Analyst Upgrades: GoPro, Ambarella, and Exxon Mobil

Analysts upwardly revised their ratings on GoPro, Inc. (NASDAQ:GPRO), Ambarella Inc (NASDAQ:AMBA), and Exxon Mobil Corporation (NYSE:XOM)

Jul 22, 2015 at 9:10 AM
facebook X logo linkedin


Analysts are weighing in on wearable camera maker GoPro, Inc. (NASDAQ:GPRO), semiconductor concern Ambarella Inc (NASDAQ:AMBA), and oil-and-gas issue Exxon Mobil Corporation (NYSE:XOM). Here's a quick roundup of today's bullish brokerage notes on GPRO, AMBA, and XOM.

  • Since taking a sharp bounce off its 80-day moving average earlier this month, GPRO has tacked on 25.6% to trade at $62.04. The equity looks poised to extend this positive price action today, after the company's better-than-expected earnings report and upbeat current-quarter revenue forecast was met with a round of bullish brokerage attention. Specifically, the stock received price-target hikes from Wedbush (to $76), Raymond James (to $71), Barclays (to $71), Baird (to $70), and Dougherty (to $70). While today's projected price move is good news for a recent crop of option traders, it's bad news for short sellers. Short interest jumped 12.6% in the latest reporting period, and now accounts for nearly 18% of GoPro, Inc.'s available float. A capitulation from some of the weaker bearish hands could create tailwinds for GPRO going forward.

  • AMBA -- which supplies GPRO with video processors -- saw its price target raised to $122 from $120 at Canaccord Genuity overnight, the second such boost the brokerage firm has issued in as many weeks. The stock is modestly higher in electronic trading -- and on track to add to its impressive 133% year-to-date advance -- which could prompt more analysts to follow in Canaccord Genuity's bullish footsteps. Currently, 45.5% of covering analysts maintain a lukewarm "hold" rating on the outperformer, while the average 12-month price target of $105.27 stands at a discount to Tuesday's settlement at $118.18. Ambarella Inc is tentatively slated to unveil its own quarterly results in early September.

  • Despite crude oil's recent struggles, Goldman Sachs raised XOM to "conviction buy" from "buy." On the charts, the stock has been tracking crude's slide -- shedding 22% since hitting a record high of $104.76 last July. In fact, the security tagged a three-year low of $81.43 yesterday, before settling at $81.66. Option traders, meanwhile, have been eyeing more downside, per Exxon Mobil Corporation's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.84 -- in the 83rd annual percentile. Simply stated, puts have been bought to open over calls at a faster-than-usual clip in recent months.
Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI