Analyst Upgrades: Starbucks Corporation, Cyberark Software Ltd, and Micron Technology, Inc.

Analysts upwardly revised their ratings and price targets on Starbucks Corporation (NASDAQ:SBUX), Cyberark Software Ltd (NASDAQ:CYBR), and Micron Technology, Inc. (NASDAQ:MU)

by Josh Selway

Published on Dec 10, 2015 at 9:04 AM

Analysts are weighing in coffee giant Starbucks Corporation (NASDAQ:SBUX), cybersecurity concern Cyberark Software Ltd (NASDAQ:CYBR), and chipmaker Micron Technology, Inc. (NASDAQ:MU). Here's a quick roundup of today's bullish brokerage notes on SBUX, CYBR, and MU. 

  • SBUX is up nearly 50% in 2015, closing Wednesday at $61.18 -- not far from the stock's all-time high of $64 from late October. Piper Jaffray thinks the shares have more room to run, as the brokerage firm named Starbucks Corporation one of its top picks for 2016. Bullish analyst attention is nothing new though, as 20 of 24 covering brokerage firms call the shares a "buy" or better. And the security certainly could extend its long-term technical success if bears continue to flee. Over the past two reporting periods, short interest on SBUX has plummeted by over 49%. 
  • CYBR is set to jump 4.2% out of the gate, after J.P Morgan Securities upgraded the equity to "overweight" from "underweight." Cyberark Software Ltd remains almost 2% lower in 2015, closing yesterday at $38.91, but if it can extend today's potential rally, more analysts could jump on the bullish bandwagon and add fuel to its fire. Specifically, 45% of analysts with coverage on CYBR say it's a "hold" or "strong sell." 
  • MU is up 0.8% in electronic trading, after being a named a top pick for 2016 by J.P. Morgan Securities. Still, the shares have shed 59.1% year-to-date to trade at $14.32 -- less than a point from their late-August annual low of $13.50. Micron Technology, Inc. could soon face more pressure on the charts, too, if option bulls begin unwinding their bets. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) , MU's 10-day call/put volume ratio stands at an elevated 3.48, outranking 85% of all similar readings from the past year. 
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