Analyst Upgrades: Apple Inc., Pandora Media Inc, and QUALCOMM, Inc.

Analysts upwardly revised their ratings and price targets on Apple Inc. (AAPL), Pandora Media Inc (P), and QUALCOMM, Inc. (QCOM)

Apr 12, 2016 at 9:41 AM
facebook X logo linkedin


Analysts are weighing in on Mac maker Apple Inc. (NASDAQ:AAPL), Internet radio provider Pandora Media Inc (NYSE:P), and tech stock QUALCOMM, Inc. (NASDAQ:QCOM). Here's a quick roundup of today's bullish brokerage notes on AAPL, P, and QCOM.
 
  • Goldman Sachs reiterated its "conviction list buy" rating on AAPL, expecting the company to beat consensus earnings expectations in roughly two weeks. Additionally, Goldman cited "extremely strong" pent-up iPhone 7 demand, and said the stock could be "on the cusp of entering a cycle of earnings upgrades." In early trading, Apple Inc. has edged 0.4% higher to trade at $109.44, but is only slightly higher on a year-to-date basis. Goldman Sachs isn't the only brokerage firm backing AAPL, as 26 of 32 analysts have handed out a "buy" or better endorsement.
  • P has rocketed 2.9% higher to $8.40, after Citigroup initiated coverage with a "buy" rating and $16 price target -- nearly doubling last night's settlement price. The bullish note may be a bit of a surprise, considering Pandora Media Inc sports a year-to-date loss of roughly 36%, with recent rebound attempts stifled by the stock's 80-day moving average. Short sellers have been flocking to the shares amid their long-term technical troubles. During the last two reporting periods, short interest on P jumped 13.1%, and now accounts for 15.2% of its total float. At the stock's average trading levels, it would take one week to buy back these bearish bets.
  • QCOM saw its price target raised to $49 from $47 at Mizuho Securities. At last check, however, the stock was down 0.5% at $50.74. Since its March 7 high at $53.52, QUALCOMM, Inc. has been struggling to make headway under the weight of its descending 160-day moving average -- more or less trapped between the trendline and the round-number $50 level. This isn't terribly surprising, considering the stock's dreadful track record in April. Meanwhile, short-term options traders are more put-focused than usual. QCOM's Schaeffer's put/call open interest ratio (SOIR) of 1.01 ranks in the 94th percentile of its annual range.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI