Analyst Update: Oshkosh, Eagle Pharma, Fortinet

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

Jun 16, 2015 at 1:48 PM
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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.
 

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