Analyst Update: Symantec Corporation, OraSure Technologies, Inc., and Vodafone Group Plc

Analysts revised their ratings and price targets on Symantec Corporation (SYMC), OraSure Technologies, Inc. (OSUR), and Vodafone Group Plc (ADR) (VOD)

by Alex Eppstein

Published on Jun 13, 2016 at 12:58 PM

Analysts are weighing in on software stock Symantec Corporation (NASDAQ:SYMC), diagnostics developer OraSure Technologies, Inc. (NASDAQ:OSUR), and telecom titan Vodafone Group Plc (ADR) (NASDAQ:VOD)Here's a quick roundup of today's brokerage notes on SYMC, OSUR, and VOD.

  • SYMC has jumped 6.7% to trade at $18.46, after the company's decision to buy Blue Coat Systems for roughly $4.7 billion was met with cheers on Wall Street. Specifically, Cowen raised its price target on Symantec Corporation to $21 from $19.50 -- territory not charted in over a year. On the charts, the upside gap has helped the stock extend its year-to-date gains to 9.2%. Meanwhile, open interest among options expiring in the next three months is extremely put-skewed. Specifically, SYMC's Schaeffer's put/call open interest ratio (SOIR) checks in at a top-heavy 4.17 -- in the 89th annual percentile.
  • OSUR has tumbled 14.1% at $6.68, following a downgrade to "market perform" from "outperform" at Raymond James. The brokerage firm cited competition in the HIV test business and a "more challenging than anticipated" hepatitis C market as the rationale behind the bearish note. OraSure Technologies, Inc. is now testing its 120-day moving average, which contained a previous downside move last month. While the shares are currently on the short-sale restricted list, short interest has been growing recently. During the last two reporting periods, short interest on OSUR jumped over 22%.
  • A downgrade to "neutral" and a price-target cut to 225P at Macquarie has sent VOD 1.9% lower at $30.58. Currently, the stock is on track for its lowest closing price in three months, and last week it got hammered after the sale of the company's New Zealand unit. Macquarie's bearish outlook represents quite the change of pace among analysts covering Vodafone Group Plc, with 100% doling out "strong buy" opinions heading into today. On the other hand, short-term put open interest is at an extreme level, considering VOD's SOIR of 1.25 outstrips all readings taken in the prior year.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Agios Pharmaceuticals Inc, Alibaba Group Holding Ltd, and Royal Gold, Inc (USA) and Analyst Downgrades: Chipotle Mexican Grill, Inc., Emerge Energy Services LP, and Baidu Inc (ADR).

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