Analyst Upgrades: Facebook, Inc., Tenet Healthcare Corporation, and NIKE, Inc.

Analysts upwardly revised their ratings on Facebook Inc (NASDAQ:FB), Tenet Healthcare Corp (NYSE:THC), and Nike Inc (NYSE:NKE)

by Alex Eppstein

Published on Jun 26, 2015 at 9:21 AM

Analysts are weighing in today on social network Facebook Inc (NASDAQ:FB), hospital operator Tenet Healthcare Corp (NYSE:THC), and sports apparel issue Nike Inc (NYSE:NKE). Here's a quick roundup of today's bullish brokerage notes on FB, THC, and NKE.

  • Mizuho initiated coverage on FB with a "buy" rating. This is business as usual for the shares, which have received 25 "buy" or better endorsements, relative to two "holds" and not a single "sell." What's more, Facebook Inc's consensus 12-month price target of $97.17 sits in territory yet to be explored. This bullish bias is the product of the stock's long-term outperformance, as it's up 31% year-over-year, and hit a record high of $89.40 yesterday before closing at $87.98.

  • THC soared 12.2% yesterday -- leading S&P 500 Index (SPX) components -- as the Supreme Court's ruling on Obamacare lifted a number of healthcare stocks. In response, no fewer than three brokerage firms boosted their price targets on Tenet Healthcare Corp, including Jefferies (to $70), Leerink (to $60), and Mizuho (to $68.20). Also, Wells Fargo upgraded the stock to "outperform." Collectively, these bullish notes have THC sitting 1.3% higher ahead of the bell. Longer term, the stock has tacked on nearly 11% in 2015 -- most of that earned yesterday -- and is trading at levels not seen since early November. Short sellers may be starting to feel the heat, as close to 7% of the security's float is sold short -- or about a week's worth of trading, at typical daily volumes.

  • NKE is basking in the glow of strong quarterly results and an upwardly revised fiscal 2016 sales forecast, with no fewer than 13 brokerage firms upping their price targets on the equity. Setting the highest bar is Evercore ISI, which boosted its target to $140 from $120. Last night, Nike Inc ended at $105.22, or 2% below its record high of $107.45 from earlier this week -- a milestone that will likely be toppled today, as the shares are up 3.1% pre-market. However, traders at  the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) are counting on a pullback. NKE's 50-day put/call volume ratio across these exchanges is 0.82, which rests just 5 percentage points from a 52-week peak.

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