Analyst Update: Fitbit, Aerie Pharma, Targa Resources

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

Dec 21, 2015 at 11:34 AM
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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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