Analyst Update: Chemours, EP Energy, and Epizyme

Analysts adjusted their ratings and price targets on Chemours Co (CC), EP Energy Corp (EPE), and Epizyme Inc (EPZM)

Mar 14, 2016 at 3:13 PM
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Analysts are weighing in on chemical concern Chemours Co (NYSE:CC), oil-and-gas issue EP Energy Corp (NYSE:EPE), and drug stock Epizyme Inc (NASDAQ:EPZM). Here's a quick roundup of today's brokerage notes on CC, EPE, and EPZM.

  • CC has surged 6.6% to trade at $6.95, following an upgrade to "buy" from "neutral" at Goldman Sachs -- which also raised its price target to $10 from $6. Specifically, the brokerage firm said a bottoming titanium dioxide market could help the stock, as could the company's "cost cutting and asset optimization effort." Currently, Chemours Co is on track for its highest close since early November. If the shares can build on their recent momentum, additional upgrades could be in the cards, with 80% of analysts still rating them a "hold" or worse.
  • EPE is smarting on a downgrade to "accumulate" from "buy" at KLR, which cited the company's valuation as the basis of the negative note. Further contributing to the selling pressure is a drop in crude oil prices. At last check, EP Energy Corp has fallen 4.9% at $4.89, and has pulled back 34% from its near-term high of $7.44 touched one week ago. This certainly comes as a welcome development for short sellers. Despite short interest falling 11.3% during the latest reporting period, 13.6 million EPE shares are still sold short -- an amount that would take over one week to cover, at typical trading levels.
  • H.C. Wainwright bumped its rating on EPZM up to "buy," and increased its price target to $25. The move has the shares 8.1% higher at $11.15 -- though they remain 30% lower year-to-date. Nevertheless, short-term option traders are extremely call-skewed toward Epizyme Inc. The stock's Schaeffer's put/call open interest ratio (SOIR) checks in at an annual low of 0.15, with calls outstripping puts by a more than 6-to-1 basis among options with a shelf-life of three months or less.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Johnson & Johnson, Transocean LTD, and Tesla Motors Inc and Analyst Downgrades: Finish Line Inc, Hibbett Sports, Inc., and Clean Energy Fuels Corp.

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