Analyst Upgrades: Facebook, Kinross Gold, Cisco Systems

Analysts upwardly revised their ratings and price targets on Facebook Inc (FB), Kinross Gold Corporation (USA) (KGC), and Cisco Systems, Inc. (CSCO)

Feb 11, 2016 at 9:58 AM
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Analysts are weighing in on social media giant Facebook Inc (NASDAQ:FB), gold interest Kinross Gold Corporation (USA) (NYSE:KGC), and networking services provider Cisco Systems, Inc. (NASDAQ:CSCO). Here's a quick roundup of today's bullish brokerage notes on FB, KGC, and CSCO.

  • MKM Partners raised its price target on FB to $135 from $130. Facebook Inc reported strong quarterly financials at the end of January, sending the shares to an all-time high of $117.59 earlier this month, but they have since pulled back as the tech sector faced strong headwinds. Today, the stock is 1.1% lower at $99.86, and while analysts are still firmly in FB's corner, option traders have yet to back off their bearish bets. Specifically, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 50-day put/call volume ratio of 0.58 is higher than 99% of all readings from the last 12 months.

  • KGC reported strong fourth-quarter revenue last night, prompting CIBC, BofA-Merrill Lynch, and TD Securities to raise their price targets on the stock, to $2.80, $2.65, and $2.50, respectively. As a result -- and thanks to surging gold futures -- the shares are up 9.3% at $2.81 today, adding to their impressive year-to-date gains. In fact, Kinross Gold Corporation has outperformed the S&P 500 Index (SPX) by more than 53 percentage points over the last three months. The stock could still benefit from further upgrades, too -- only three of the 14 brokerages providing coverage rate KGC better than a "hold."

  • After reporting better-than-expected fiscal second-quarter results last night, CSCO has popped 8.8% to trade at $24.49. No fewer than eight brokerages adjusted their price targets on Cisco Systems, Inc., including Raymond James, which increased its target by $1 to $28. In addition, Jefferies upgraded the stock to "buy" from "hold." Option bears could be headed for the exits today, as the stock puts more distance between itself and its late-January annual low of $22.46. At the ISE, CBOE, and PHLX, the equity's 10-day put/call volume ratio of 1.51 is in the top percentile of its annual range, showing extreme pessimism going into yesterday's earnings.
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