Analyst Upgrades: Intel Corporation, Intuit Inc., and Ross Stores, Inc.

Analysts upwardly revised their ratings on Intel Corporation (NASDAQ:INTC), Intuit Inc. (NASDAQ:INTU), and Ross Stores, Inc. (NASDAQ:ROST)

Nov 20, 2015 at 9:27 AM
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Analysts are weighing in on blue chip Intel Corporation (NASDAQ:INTC), QuickBooks parent Intuit Inc. (NASDAQ:INTU), and discount retailer Ross Stores, Inc. (NASDAQ:ROST). Here's a quick roundup of today's bullish brokerage notes on INTC, INTU, and ROST.

  • INTC is being met with applause on Wall Street, after the company yesterday upped its dividend and offered upbeat guidance. Specifically, JMP Securities raised its opinion on the stock to "market outperform" from "market perform," while no fewer than six analysts raised their price targets on the stock, with Exane BNP Paribas setting the highest bar, at $40 -- territory not charted in roughly 15 years. Technically speaking, Intel Corporation has rallied sharply off its late-August lows, tacking on 38% to trade at $34.30 -- and pointed 0.6% higher ahead of the bell. If this trend continues, the weaker bearish hands in the options pits could be forced to throw in the towel, creating tailwinds. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), INTC's 10-day put/call volume ratio of 1.71 ranks in the 85th percentile of its annual range.
  • INTU is surging pre-market, up 9.5% after the firm reported a surprise quarterly profit and upped its full-year outlook. Adding to the positive buzz, no fewer than seven analysts lifted their price targets, including UBS, which set its sights on $120 -- uncharted waters for Intuit Inc. This morning, the stock is set to explore triple-digit territory for just the second time since a late-August post-earnings bear gap. On the sentiment front, short-term traders have been gravitating toward puts over calls. INTU's Schaeffer's put/call open interest ratio (SOIR) sits at 1.26, outstripping 89% of comparable readings from the past year. Last night, the shares closed at $97.42.
  • ROST is set to gap 8% higher at the open, after the retailer last night reported better-than-expected quarterly results and bumped up its full-year profit forecast, citing encouraging traffic patterns and strong sales of men's apparel. This news has also prompted Cowen and Company, Wedbush, and Bernstein to hike their price targets. Technically speaking, Ross Stores, Inc. could definitely use help on the charts, sitting 2% lower year-to-date, as of Thursday's close at $46.20. Option bulls are likewise hoping for a breakout. ROST's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.72 ranks above 68% of comparable readings recorded over the last 12 months, hinting at a stronger-than-usual appetite for bullish bets over bearish in recent months.
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