Analyst Upgrades: Citrix, Bob Evans Farms, and Monster

Analysts upwardly revised their ratings and price targets on Citrix Systems, Inc. (NASDAQ:CTXS), Bob Evans Farms Inc (NASDAQ:BOBE), and Monster Beverage Corp (NASDAQ:MNST)

Jun 12, 2015 at 9:23 AM
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Analysts are weighing in today on cloud computing stock Citrix Systems, Inc. (NASDAQ:CTXS), breakfast fanatic Bob Evans Farms Inc (NASDAQ:BOBE), and drink producer Monster Beverage Corp (NASDAQ:MNST). Here's a quick roundup of today's bullish brokerage notes on CTXS, BOBE, and MNST.

  • Building off its big gains from yesterday, CTXS is 1.6% higher in electronic trading after a round of bullish analyst attention. Notably, Needham and BofA-Merrill Lynch each raised their outlook to "buy," with the latter setting its price target at $82 -- territory the stock hasn't explored since late 2012. Option traders are surely pleased, as 1.43 calls have been bought to open for each put during the past 10 sessions at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). As of its close yesterday at $70.39, Citrix Systems, Inc. has added over 10% in 2015.

  • BOBE is benefiting this morning from an upgrade to "buy" from "hold" -- as well as a price-target hike to $57 from $50 -- at Miller Tabak, with the shares pointed 5.4% higher ahead of the open. This comes after the company yesterday announced its plans to consider transaction strategies for its restaurant properties. The stock could use a pick-me-up, as it's been mostly churning between $43 and $47 since its gigantic bear gap in early March. Many traders are betting against an upside move. Specifically, short interest increased nearly 13% during the last two reporting periods, and now accounts for 12.4% of Bob Evans Farms Inc's float. At typical daily volumes, it would take bears over seven sessions to repurchase their shorted shares. BOBE settled yesterday at $46.10. Looking ahead, the company will report earnings next Tuesday evening.

  • UBS this morning raised its assessment on MNST to "buy" from "neutral," and bumped its price target to $154 from $148, representing all-time highs for the stock. Considering the security's dominant technical performance (up over 80% in the past year to trade at $127.17), more bullish notes may be on the way. Of the 14 covering brokerage firms, eight rate Monster Beverage Corp a "hold," with the remaining six sporting "buy" or better endorsements. Also, there's a chance for a sentiment shift among option traders to spark the shares. MNST's Schaeffer's put/call open interest ratio (SOIR) comes in at 1.30 -- just 8 percentage points from an annual put-skewed extreme. Ahead of the open, the shares are 1.4% higher.
 

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