Analyst Upgrades: BlackBerry Ltd, Relypsa Inc, and Facebook Inc

Analysts upwardly revised their ratings and price targets on BlackBerry Ltd (BBRY), Relypsa Inc (RLYP), and Facebook Inc (FB)

by Kirra Fedyszyn

Published on Dec 22, 2015 at 9:25 AM

Analysts are weighing in on phone maker BlackBerry Ltd (NASDAQ:BBRY), biotech concern Relypsa Inc (NASDAQ:RLYP), and social media giant Facebook Inc (NASDAQ:FB). Here's a quick roundup of today's bullish brokerage notes on BBRY, RLYP, and FB.

  • BBRY is up 0.3% in electronic trading, after closing at $8.72 on Monday, as Imperial Capital raised its price target on the stock to $9 from $7. BlackBerry Ltd has been making a comeback since hitting a multi-year low of $5.96 in September, and broke out above its 32-week moving average after reporting solid earnings last week. Still, more than 75% of analysts covering the stock give it a "hold" rating or worse, leaving plenty of room for more upbeat analyst attention. What's more, BBRY's short interest ratio points to more than 16 days' of pent-up buying demand, at the stock's typical volumes, should the shorts hit the bricks.
  • RLYP is set to pop 3.1% ahead of the bell, as Wedbush issued a price-target hike to $86 from $75. This new target sits at a 217% premium over the stock's Monday closing price of $27.10, and well into record-high territory. Relypsa Inc is sitting on a 12% year-to-date loss, but with help from some buyout buzz, the shares have been clawing their way back from an all-time low of $10.26, touched two months ago. Currently seven of the eight brokerages covering RLYP maintain a "strong buy" rating. But, one-fifth of the stock's available float is still sold short. At Relypsa's average pace of trading, it would take more than three days for bears to cover these positions.
  • FB is pointed 0.6% higher over its Monday close of $104.77, after being named one of FBR's top seven stocks in the technology, media, and telecommunications sector for 2016. Facebook Inc has taken a breather since hitting an all-time high of $110.65 in early November, but has found support atop its 10-week moving average. While 28 out of 29 analysts rate it a "buy" or better, option traders may not be convinced. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), FB has a 10-day put/call volume ratio of 0.54 -- a reading in the 84th bearish percentile for the past year.
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