Analyst Update: Oshkosh Corporation, Eagle Pharmaceuticals, Inc., and Fortinet, Inc.

Analysts adjusted their ratings on Oshkosh Corporation (NYSE:OSK), Eagle Pharmaceuticals Inc (NASDAQ:EGRX), and Fortinet Inc (NASDAQ:FTNT)

by Karee Venema

Published on Jun 16, 2015 at 1:48 PM
Updated on Jun 16, 2015 at 1:57 PM

Analysts are weighing in on industrial equipment manufacturer Oshkosh Corporation (NYSE:OSK), drugmaker Eagle Pharmaceuticals Inc (NASDAQ:EGRX), and cybersecurity specialist Fortinet Inc (NASDAQ:FTNT). Here's a quick roundup of today's brokerage notes on OSK, EGRX, and FTNT.

  • A downwardly revised full-year profit forecast prompted J.P. Morgan Securities to cut its price target on OSK to $44 from $46. As such, the shares are down 8.1% today at $46.22 -- and back in the red on a year-to-date basis. Considering the stock was staring at a nearly 6% 52-week deficit heading into today's session, option traders have been skeptical of OSK. In fact, the security's Schaeffer's put/call open interest ratio (SOIR) of 4.13 rests at an annual peak, meaning short-term speculators are more put-heavy now than they've been at any other point during the past year. Today, puts are trading at three times the average intraday pace, with buy-to-open activity detected at Oshkosh Corporation's July 45 strike.

  • Unlike fellow drugmaker Avalanche Biotechnologies Inc (NASDAQ:AAVL), EGRX is having a great day. The stock hit a record high of $82.86 earlier -- and was last seen up 5.1% at $80.91 -- after Cantor Fitzgerald boosted its price target on the shares to $95 from $65. Specifically, the brokerage firm said it expects "less near-term generic competition to the company's 50 mL form of Treanda following a favorable Markman decision in Teva's generic litigation." Longer term, the shares have surged more than fivefold in 2015 -- and an extended rise could prompt a batch of bullish brokerage initiations or another round of price-target hikes. In fact, just three analysts follow the shares (each of which maintain a "strong buy"), and the average 12-month price target of $76.33 stands at a discount to Eagle Pharmaceuticals Inc's present price.

  • Cybersecurity stocks have been on fire recently, and today, it's FTNT's turn in the spotlight. The equity topped out at an all-time peak of $42.35 not that long ago, after Oppenheimer raised its price target to $46 from $39 and upped its second-quarter revenue forecast, saying "FTNT's business is tracking ahead of guidance." More recently, the stock was up 2.9% at $42.27 -- extending its year-to-date lead to an impressive 38%. On the sentiment front, most analysts are already on the bullish bandwagon, with two-thirds of those covering the shares maintaining a "buy" or better rating. However, with Fortinet Inc's consensus 12-month price target of $42.12 sitting below current trading levels, additional upwardly revised price targets could be on the horizon. Looking ahead, the company will host its annual shareholder meeting on Friday.

A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.
Stocks Eye Notable Weekly Gains on 3-Day Surge
Stocks are eyeing big weekly gains
WW Stock Brushes Off Bull Note
Morgan Stanley upgraded the Weight Watchers parent to "overweight" from "equal weight"
IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.