Analyst Upgrades: Alder, Ambarella, and Starwood Hotels

Analysts upwardly revised their ratings and price targets on Alder Biopharmaceuticals Inc (ALDR), Ambarella Inc (AMBA), and Starwood Hotels & Resorts Worldwide Inc (HOT)

Mar 29, 2016 at 9:26 AM
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Analysts are weighing in on drugmaker Alder Biopharmaceuticals Inc (NASDAQ:ALDR), semiconductor stock Ambarella Inc (NASDAQ:AMBA), and hospitality interest Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT). Here's a quick roundup of today's bullish brokerage notes on ALDR, AMBA, and HOT.
 
  • ALDR is up 1.1% in electronic trading after Credit Suisse raised its price target on the stock to $40 from $35. This comes after the shares' nearly 50% gain yesterday on encouraging drug data to settle at $25.70. Alder Biopharmaceuticals Inc is already rated a "strong buy" by both analysts providing coverage -- despite a 22.2% year-to-date loss -- but others are more skeptical of the stock. For example, almost 14% of ALDR's float is sold short, and it would take these bears almost seven sessions to cover their positions, at average daily volumes. 
  • Morgan Stanley upgraded AMBA to "overweight" from "equal weight," stating, "Recent headwinds have bottomed and are likely to become tailwinds." Ambarella Inc is set to pop 5.8% at the open after closing at $40.71 Monday, though it's still off 27% in 2016 amid overhead pressure from its 60-day moving average. But while short interest is still running high, option traders appear to be eyeing a bounce. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 2.41 sits above 94% of all readings from the past year.
  • HOT received a price-target hike to $95 from $93 at Susquehanna last night, after analysts reported that Marriott International Inc (NASDAQ:MAR) is expected to walk away from the buyout battle after China's Anbang Insurance made a higher offer. What's more, Marriott could stand to collect a more than $400 million "breakup fee" if it doesn't agree to terms with Starwood Hotels & Resorts Worldwide Inc. In the meantime, option traders have been picking up calls at a faster-than-usual clip. HOT's 10-day ISE/CBOE/PHLX call/put volume ratio comes in at 13.52 -- in the 77th percentile of its annual range. The shares settled at $83.75 on Monday.
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