Analyst Update: Fitbit, Aerie Pharma, Targa Resources

Analysts adjusted their ratings on Fitbit Inc (FIT), Aerie Pharmaceuticals Inc (AERI), and Targa Resources Corp (TRGP)

by Alex Eppstein

Published on Dec 21, 2015 at 11:34 AM
Updated on Jun 29, 2020 at 4:17 PM

Analysts are weighing in today on fitness device maker Fitbit Inc (NYSE:FIT), drugmaker Aerie Pharmaceuticals Inc (NASDAQ:AERI), and natural gas concern Targa Resources Corp (NYSE:TRGP). Here's a quick roundup of today's brokerage notes on FIT, AERI, and TRGP.

  • FIT is up 2.3% today at $28.36 after Pacific Crest said the company's holiday sales have been "exploding" since Black Friday. This represents a change of pace for a stock that's lost nearly one-quarter of its value quarter-to-date. Positive analyst attention is nothing new for Fitbit Inc, though. Over two-thirds of covering brokerage firms have doled out "buy" or better opinions, while not a single "sell" recommendation is on the books.

  • AERI is on fire after being named a top smid-cap for 2016-17 by RBC. Specifically, the stock is up 4.7% at $24.36, and has rallied 176% since touching an early May all-time low of $8.84. Option traders could be feeling the heat from today's gains. Aerie Pharmaceuticals Inc has racked up a 10-day put/call volume ratio of 2.40 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), with long puts more than doubling calls

  • TRGP saw its rating reduced to "underperform" from "outperform" at Credit Suisse, which also slashed its price target to $36 from $79. As a result, the shares are 6.8% lower at $24, and earlier hit a record low of $23.33. A capitulation among bullish option traders could extend the negative momentum, too. Targa Resources Corp's 10-day ISE/CBOE/PHLX call/put volume ratio of 9.37 ranks near the top quartile of its annual range, indicating speculators have been buying to open calls over puts at a faster-than-usual clip of late.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Microsoft Corporation, Nike Inc, and Aegerion Pharmaceuticals, Inc. and Analyst Downgrades: Allegiant Travel Company, Ralph Lauren Corp, and QUALCOMM, Inc.

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