Analyst Upgrades: Oracle Corporation, Gilead Sciences, Inc., and salesforce.com, inc.

Analysts upwardly revised their ratings and price targets on Oracle Corporation (ORCL), Gilead Sciences, Inc. (GILD), and salesforce.com, inc. (CRM)

by Kirra Fedyszyn

Published on Feb 25, 2016 at 9:29 AM

Analysts are weighing in on software producer Oracle Corporation (NYSE:ORCL), biotech stock Gilead Sciences, Inc. (NASDAQ:GILD), and cloud concern salesforce.com, inc. (NYSE:CRM). Here's a quick roundup of today's bullish brokerage notes on ORCL, GILD, and CRM.

  • ORCL is 0.7% higher in electronic trading, after Jyske Bank initiated coverage on the stock with a "buy" rating and $42 price target -- a level the shares haven’t seen since last June. Oracle Corporation fell to a two-year low of $33.13 in late January, but has been on the mend, closing at $36.63 Wednesday. Still, near-term option traders have been exceptionally put-skewed of late -- the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.11 is higher than 90% of readings taken in the past year.
  • Citigroup began coverage on GILD with a "buy" rating, boosting the shares 0.9% ahead of the bell. While Gilead Sciences, Inc., has underperformed the S&P 500 Index (SPX) in recent months, it has maintained favor with analysts and option traders alike. Currently, 12 out of 17 brokerage firms rate the security a "buy" or better, without a "sell" in sight. And at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 50-day call/put volume ratio of 2.92 is in the 98th percentile of its annual range, hinting at a healthier-than-usual appetite for bullish bets of late.
  • CRM is set to surge 10.4% over its Wednesday close of $62.52, after reporting solid fourth-quarter earnings and upping its full-year sales forecast. Since the report, no fewer than eight brokerage firms have adjusted their price targets on the stock, including Wedbush, which increased its target to $95 from $92 -- well into record-high territory. While analysts were already firmly in salesforce.com, inc.'s corner, with 28 "buy" or better ratings and just three "holds," bearish option traders could be hitting the bricks today. At the ISE, CBOE, and PHLX, CRM has racked up a 10-day put/call volume ratio of 0.81 -- higher than 92% of all readings in the last 12 months.
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