Analysts upwardly revised their price targets on Facebook Inc (FB), Skechers USA Inc (SKX), and Hologic, Inc. (HOLX)
Analysts are weighing in today on social network Facebook Inc (NASDAQ:FB), footwear firm Skechers USA Inc (NYSE:SKX), and medical technology firm Hologic, Inc. (NASDAQ:HOLX). Here's a quick roundup of today's bullish brokerage notes on FB, SKX, and HOLX.
- FB is down 2.7% ahead of the bell, as concerns over a massive surge in quarterly spending outweighs enthusiasm over impressive user-growth statistics. However, no fewer than 19 analysts upped their price targets overnight, with Piper Jaffray setting the highest bar, at $146. On a longer-term basis, Facebook Inc has had an impressive run to reach Wednesday's close at $96.99, and the stock hit a record high of $99.24 just last week. Accordingly, option traders have been piling on FB's bullish bandwagon. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open three calls for every put. The resultant call/put volume ratio of 3.00 ranks in the 91st percentile of its annual range -- and the stock's pre-market drop seems to confirm that FB failed to live up to traders' lofty expectations.
- SKX is fresh off a second-quarter earnings beat, and this morning is basking in upbeat analyst attention. Specifically, five brokerages have raised their price targets on the stock, led by Susquehanna's hike to $165 from $127. Ahead of the open, Skechers USA Inc is poised to pop over 12%, adding to its astronomical 132.5% year-to-date advance, as of Wednesday's close at $128.44. The shares are now set to take out yesterday's record high of $129.06. On the Street, sentiment toward SKX is mixed. While 100% of covering analysts have doled out "buy" or better recommendations, the stock's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.55 rests just 5 percentage points from an annual bearish peak.
- HOLX, too, is coming off a standout turn in the earnings confessional. Last night, the company reported better-than-expected fiscal third-quarter results, and raised its full-year guidance. As a result, no fewer than nine brokerage firms boosted their price targets, and Goldman Sachs set the loftiest outlook, lifting its target to $48 from $43. There's plenty of room for additional upbeat brokerage notes, as half of the analysts tracking Hologic, Inc. have handed out "hold" or worse ratings, and the stock's consensus 12-month price target of $36.97 sits below last night's close at $38.03. This morning, HOLX is poised to add to its year-to-date gain of 42.2% -- and notch a new record high -- with the stock up nearly 9% in electronic trading.
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