Analyst Upgrades: QUALCOMM, Inc., Microsoft Corporation, and salesforce.com, inc.

Analysts upwardly revised their ratings and price targets on QUALCOMM, Inc. (QCOM), Microsoft Corporation (MSFT), and salesforce.com, inc. (CRM)

by Kirra Fedyszyn

Published on Jan 13, 2016 at 9:28 AM

Analysts are weighing in on technology interests QUALCOMM, Inc. (NASDAQ:QCOM)Microsoft Corporation (NASDAQ:MSFT), and salesforce.com, inc. (NYSE:CRM). Here's a quick roundup of today's bullish brokerage notes on QCOM, MSFT, and CRM.

  • QCOM is set to pop 2.6% over its Tuesday close of $46.52, thanks to an upgrade to "positive" from "neutral" at Susquehanna. The brokerage firm also raised its price target on QUALCOMM, Inc. to $60 from $53, and suggested that the worst is over for the company. The security has been sliding on the charts since mid-2014, and hit a new five-year low of $45.33 on Monday. But if this upgrade, alongside a new joint venture, sparks a big rally for the shares, bullish option traders should be thrilled. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), QCOM calls have been bought to open nearly 5-to-1 over puts during the last 10 trading days. What's more, the resulting call/put volume ratio of 4.80 is higher than 87% of all comparable readings from the last year.
  • Morgan Stanley upgraded MSFT to "overweight" from "equal weight," and boosted its price target to $66 from $57, sending the shares 2.3% higher in pre-market trading. The brokerage cited confidence in Microsoft's "strong" position in cloud-based services and "less risk in Windows," but not everyone is convinced. Six of 21 analysts still say MSFT is a "hold" or "sell." Since hitting a near 15-year high just before the end of the year, MSFT has trended lower with the broader equities market, and could run into a speed bump in the formerly supportive $52-$54 region. MSFT closed Tuesday at $52.78.
  • CRM is pointed 0.5% higher ahead of the open, as Brean Capital initiated coverage on the security with a "buy" rating and a price target of $100 -- a 34% premium over salesforce.com, inc.'s Tuesday close of $74.46. The stock has been trending higher for years, and added more than 32% in 2015 alone, hitting an all-time high of $82.90 in November. It's little wonder that 28 out of 31 brokerages currently call CRM a "buy" or better. But there is still room for more optimism on the options side. Specifically, the stock's 50-day put/call volume ratio of 0.59 is higher than 71% of the past year's readings. Should these bears abandon their positions, the shares could be on their way to new highs.

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