Analyst Upgrades: Barrick Gold, Cheniere Energy, Himax

Analysts upwardly revised their ratings and price targets on Barrick Gold Corporation (USA) (ABX), Cheniere Energy, Inc. (LNG), and Himax Technologies, Inc. (ADR) (HIMX)

Feb 23, 2016 at 9:54 AM
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Analysts are weighing in on gold stock Barrick Gold Corporation (USA) (NYSE:ABX), energy interest Cheniere Energy, Inc. (NYSEMKT:LNG), and chipmaker Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). Here's a quick roundup of today's bullish brokerage notes on ABX, LNG, and HIMX.

  • ABX is trading 4.2% higher at $13.36, thanks to price-target hikes from Jefferies, Credit Suisse, Deutsche Bank, and BMO. The brokerages increased their targets to a range between $11 and $15 after ABX announced a promising production forecast during its investor day on Monday. Barrick Gold Corporation has been trending higher since hitting a nearly 26-year low of $5.91 last September, and the stock is up 81.2% already in 2016. ABX could certainly benefit from more bullish attention from analysts, as nine out of 15 still rate the shares a "hold" or worse.
  • Goldman Sachs raised its rating on LNG to "buy" from "neutral," while cutting its price target to $46 from $52 -- still a healthy premium over the stock's current value of $31.65, up 4.4% from Monday's close. Cheniere Energy, Inc. announced a steeper-than-expected fourth-quarter loss on Friday, but the stock continues to recover from its Feb. 8 two-year low of $22.80. As evidenced by today's bullish note, most analysts are optimistic on LNG, with five out seven rating the stock a "buy" or better -- and not a "sell" to be found.
  • HIMX hit a new annual high of $9.03 today, and is currently currently up 2.5% at $8.96 after Craig-Hallum upgraded the stock to "buy" with a price target of $11. This brokerage boost is helping Himax Technologies, Inc. extend its year-to-date gain to 9.3%. But option traders are not so optimistic. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio ranks higher than 97% of all readings taken in the past year -- indicating traders have rarely bought to open HIMX puts at a faster rate relative to calls.
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