Analyst Upgrades: Adobe Systems, Philip Morris, Whiting Petro

Analysts upwardly revised their ratings and price targets on Adobe Systems Incorporated (NASDAQ:ADBE),Philip Morris International Inc. (NYSE:PM), and Whiting Petroleum Corp (NYSE:WLL)

Karee Venema
Mar 23, 2016 at 9:13 AM
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Analysts are weighing in on software company Adobe Systems Incorporated (NASDAQ:ADBE), tobacco firm Philip Morris International Inc. (NYSE:PM), and oil-and-gas stock Whiting Petroleum Corp (NYSE:WLL). Here's a quick roundup of today's bullish brokerage notes on ADBE, PM, and WLL.

  • Analysts continue to wax optimistic on ADBE, following last week's standout earnings report. The latest bullish brokerage note comes from Deutsche Bank, which boosted its price target on ADBE to $120 from $110 -- representing a 30% premium to last night's close at $92.56. The shares have been on fire recently, up 30% from their Feb. 8 annual low of $71.27, and fresh off Friday's record peak of $98.00. Option traders have been growing more bullish, too. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Adobe Systems Incorporated's 10-day call/put volume ratio has jumped to 1.37 from 0.95 in the past two weeks, and now sits in the 65th annual percentile.

  • Cowen and Company raised its price target on PM to $109 from $98, while underscoring its "outperform" rating -- as takeover talks among its sector peers heat up. This echoes the generally bullish bias seen among the brokerage bunch, as 64% of those covering the stock maintain a "buy" or better rating. The short-term options crowd, meanwhile, is more put-heavy than usual, per PM's Schaeffer's put/call open interest ratio (SOIR) of 0.96 -- in the 70th percentile of its annual range. Technically, shares of Philip Morris International Inc. hit a record high of $99.33 last Thursday, and closed last night not far from here, at $96.74.

  • WLL is pointed 2.2% lower in electronic trading, as declining oil prices overshadow a price-target hike to $9 from $5 from Deutsche Bank. Since hitting a record low of $3.35 in late February, the shares of WLL have bounced 144% to trade at $8.16. While analysts have begun taking note, speculators are still skeptical. Not only does the equity's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.02 sit in 76th annual percentile, but more than one-quarter of Whiting Petroleum Corp's float is sold short.
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