Analyst Upgrades: Netflix, Inc., International Business Machines Corp., and Genocea Biosciences Inc

Analysts upwardly revised their ratings and price targets on Netflix, Inc. (NFLX), International Business Machines Corp. (IBM), and Genocea Biosciences Inc (GNCA)

by Kirra Fedyszyn

Published on Apr 1, 2016 at 9:24 AM

Analysts are weighing in on streaming media giant Netflix, Inc. (NASDAQ:NFLX), tech stock International Business Machines Corp. (NYSE:IBM), and biotech concern Genocea Biosciences Inc (NASDAQ:GNCA). Here's a quick roundup of today's bullish brokerage notes on NFLX, IBM, and GNCA.
  • RBC increased its price target on IBM to $155 from $135 -- more in line with the stock's Thursday close of $151.45. International Business Machines Corp. is ahead 10% so far in 2016, rallying about 30% from its mid-February five-year low of $116.90. However nine out of 16 analysts following IBM still rate it a "hold" or worse. And at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio of 0.89 is higher than three-fourths of all readings in the last 12 months. And unwinding of this lingering bearish sentiment in the face of IBM's strong technical performance could help keep its rally going.
  • After nearly doubling in value on Thursday to settle at $7.74 -- thanks to some upbeat drug data --  GNCA received a price-target hike at Stifel, to $13 from $11. The shares are set to drop 4% at the open, after yesterday's surge sent Genocea Biosciences Inc's 14-day Relative Strength Index (RSI) to 78 -- in overbought territory. Still, an unwinding of bearish sentiment from short sellers could soon help the stock add to its now 47% year-to-date lead. In fact, it would take nearly four weeks to cover all of GNCA's shorted shares, at the stock's average pace of trading.
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