Analyst Upgrades: eBay, Organovo, Chesapeake Energy

Analysts upwardly revised their ratings on eBay Inc (NASDAQ:EBAY), Organovo Holdings Inc (NYSEMKT:ONVO), and Chesapeake Energy Corporation (NYSE:CHK)

by Josh Selway

Published on Jun 29, 2015 at 9:28 AM
Updated on Jul 9, 2020 at 11:49 AM

Analysts are weighing in today on e-commerce giant eBay Inc (NASDAQ:EBAY), drugmaker Organovo Holdings Inc (NYSEMKT:ONVO), and commodity concern Chesapeake Energy Corporation (NYSE:CHK). Here's a quick roundup of today's bullish brokerage notes on EBAY, ONVO, and CHK.

  • EBAY saw its price target lifted at both J.P. Morgan Securities and Evercore ISI, after the company announced the spin-off date for its PayPal division. The former brokerage firm set its mark at $64 -- all-time high territory -- while the latter moved its expected price up to $55, although that marks a discount to Friday's close at $61.03. The shares have been strong this year, adding 8.8% -- and touching a June 5 record high of $63.30 along the way -- and option traders expect more upside. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) eBay Inc's 10-day call/put volume ratio comes in at 4.44, which is only 9 percentage points from an annual high. Analysts haven't been as impressed, as 58% say EBAY is a "hold" or worse. The shares could get a lift, if additional bullish notes come down the pike.

  • Even though the stock has dropped nearly 46% in 2015 to trade at $3.93, Jefferies started ONVO with a "buy" recommendation and a $5 price target. Elsewhere, Organovo Holdings Inc has been a favorite among short sellers. Almost 28% of the security's float is sold short, which would take bears almost four whole weeks to repurchase, at the sock's normal daily volumes. Echoing this pessimistic outlook is ONVO's Schaeffer's put/call open interest ratio (SOIR), which at 1.14 lands in the 86th percentile of its annual range. 

  • CHK has been a long-term laggard on the charts, dropping 61% in the past 12 months to finish Friday at $11.16, after matching Thursday's six-year low of $11. The stock is trading higher in electronic trading, though, as Sterne Agee CRT raised its outlook to "buy" and increased its price target to $13 from $9, saying CHK has plenty of liquidity to stabilize its balance sheet in the years to come. Most analysts don't feel the same way. Of the 20 brokerage firms covering Chesapeake Energy Corporation, 17 rate it a "hold" or worse. 



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