Analyst Upgrades: NVIDIA Corporation, Global Payments Inc, and Northrop Grumman Corporation

Analysts upwardly revised their ratings on NVIDIA Corporation (NVDA), Global Payments Inc (GPN), and Northrop Grumman Corporation (NOC)

by Alex Eppstein

Published on Dec 16, 2015 at 9:05 AM
Updated on Dec 16, 2015 at 9:07 AM

Analysts are weighing in on visualization specialist NVIDIA Corporation (NASDAQ:NVDA), commercial transaction concern Global Payments Inc (NYSE:GPN), and security company Northrop Grumman Corporation (NYSE:NOC). Here's a quick roundup of today's bullish brokerage notes on NVDA, GPN, and NOC. 

  • MKM Partners added NVDA to its list of "Top Stock Picks for 2016." The honor is well-deserved, considering the stock has surged over 64% year-to-date to sit at $32.97, and earlier this month touched a nearly eight-year high of $33.81. Ahead of the bell, NVIDIA Corporation is up another 0.2%. Not everyone's boarded the bullish bandwagon, though. In fact, over half of the analysts tracking NVDA have designated it a "hold" or worse. Long story short, there's plenty of room for future upgrades to keep the shares streaking up the charts.
  • GPN announced last night it is buying rival Heartland Payment Systems, Inc. (NYSE:HPY) for $4.3 billion. The news has been well-received by analysts, where Susquehanna, Cowen and Company, and Citigroup have each raised their price targets on Global Payments Inc. Nonetheless, the stock is bracing for a 10% drop out of the chute, after closing at $71.42 yesterday -- not far from its Dec. 10 record high of $74.64. Expectations have been ramping up at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). GPN's 20-day call/put volume ratio across that trio of exchanges is 6.69, meaning traders have bought to open nearly seven calls for every put over the past month.
  • NOC saw its rating lifted to "overweight" from "neutral" at J.P. Morgan Securities, which also boosted its price target to $212 from $201 -- deeper into uncharted territory. On the charts, the shares have advanced an impressive 27.4% in 2015 to rest at $187.84 -- within striking distance of their late-October all-time peak of $193.99, fueled by a potentially lucrative Air Force contract. Nonetheless, option traders have been betting bearishly on Northrop Grumman Corporation in recent months. The stock's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.92 outstrips 80% of all comparable readings taken during the past 52 weeks. Likewise, NOC's Schaeffer's put/call open interest ratio (SOIR) of 2.01 indicates short-term put open interest doubles call open interest -- and also rests in the 91st percentile of its annual range. In pre-market trading, the shares are pointed 1.1% higher.
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