Analyst Update: Anadarko, Bojangles, and Finisar

Analysts adjusted their ratings and price targets on Anadarko Petroleum Corporation (APC), Bojangles Inc (BOJA), and Finisar Corporation (FNSR)

Mar 11, 2016 at 2:40 PM
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Analysts are weighing in on gas-and-oil stock Anadarko Petroleum Corporation (NYSE:APC), restaurant interest Bojangles Inc (NASDAQ:BOJA), and data communications concern Finisar Corporation (NASDAQ:FNSR). Here's a quick roundup of today's brokerage notes on APC, BOJA, and FNSR.

  • APC is yet another name enjoying sector tailwinds and bullish attention from Goldman Sachs, which upgraded the stock to "buy" from "neutral," and raised its price target to $58 from $50. Anadarko Petroleum Corporation also notified its employees today that it will cut about 1,000 jobs as part of its efforts to reduce capital expenditures in 2016. APC is up 9.3% at $46.43, bringing  its month-to-date gain to 22.3%, and bearish option traders could be hitting the bricks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), APC has a 50-day put/call volume ratio of 1.39 -- just 1 percentage point shy of an annual high.
  • Stephens raised its rating on BOJA to "overweight" from "equal-weight," after the company reported fourth-quarter earnings above expectations. Meanwhile, Jefferies, Barclays, and Piper Jaffray cut their price targets on the stock, which is nonetheless soaring 20.9% to $18.17. Bojangles Inc hit a record low of $13.39 at the beginning of February, encouraging a recent batch of short sellers. But the equity could keep its rally going if these bears back off soon -- nearly 12% of BOJA's available float is currently wrapped up in short interest, accounting for about seven days of trading, at the stock's average daily volume.
  • FNSR reported better-than-predicted earnings for its fiscal third quarter last night, earning it an upgrade to "buy" and a price-target hike to $19.50 from Craig-Hallum, along with price-target increases from B. Riley, Piper Jaffray, and Goldman Sachs. Finisar Corporation has gapped 19.2% higher to sit at $16.90, and could top its 320-day moving average for the first time since last June. But the shares could see further upward momentum should more analysts come around. At the moment, only two of the 11 brokerage firms providing coverage rate the stock better than a "hold."
For other stocks in analysts' crosshairs, read Analyst Upgrades: Seadrill Ltd, Symantec Corporation, and Ulta Salon, Cosmetics & Fragrance, Inc. and Analyst Downgrades: Potash Corporation of Saskatchewan (USA), AK Steel Holding Corporation, and Sunrun Inc.

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