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)

Dec 22, 2015 at 9:25 AM
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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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