ELECT 24 Top Ad

Analyst Upgrades: Viacom, Inc., Finisar Corporation, and Oracle Corporation

Analysts upwardly revised their ratings and price targets on Viacom, Inc. (VIAB), Finisar Corporation (FNSR), and Oracle Corporation (ORCL)

Jun 17, 2016 at 10:11 AM
facebook X logo linkedin


Analysts are weighing in on entertainment stock Viacom, Inc. (NASDAQ:VIAB), data communications firm Finisar Corporation (NASDAQ:FNSR), and software producer Oracle Corporation (NYSE:ORCL)Here's a quick roundup of today's bullish brokerage notes on VIAB, FNSR, and ORCL.

  • VIAB is up 1.8% at $45.87, despite a lackluster earnings forecast, and just one day after CEO Sumner Redstone ousted five board members in the latest move in the company's battle for control. Following the management shake-up, VIAB received an upgrade to "sector perform" from "underperform" at RBC, which also raised VIAB's price target to $45 from $34. Viacom, Inc. last month topped its 10-month trendline for the first time in nearly two years, and has rallied roughly 50% since hitting a six-year low of $30.11 in February, though the stock remains down  31.3% over the last 12 months.  VIAB calls were busy yesterday, trading at two times the norm. The July 50 call saw the biggest overnight increase in open interest, with more than 1,200 contracts added.
  •  
  • FNSR is up 7.5% at $18.90 -- and fresh off a year-to-date high of $19.10 -- after reporting earnings that trumped analysts' expectations. No fewer than nine brokerage firms have hiked Finisar Corporation's price target, including hikes to $24 from Craig-Hallum, Needham, and Piper Jaffray. FNSR is up nearly 30% since the beginning of the year, and saw similar analyst attention after its last earnings report, although only four of 11 brokerage firms covering FNSR rate the stock a "buy" or better. Option players were increasingly optimistic ahead of earnings, and VIAB's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) stands at 4.96, higher than 81% of all other readings from the past year.

  • ORCL is also trading higher after earnings, currently sitting at $39.40, up 2%. ORCL's earnings beat expectations, and Chairman Larry Ellison said he expects the cloud business's "hyper-growth" to continue over the next several years. In fact, Oracle has been putting its eggs in the cloud basket for some time, including snapping up Opower Inc (NYSE:OPWR). Citigroup, Wedbush, and Raymond James all issued price-target hikes for ORCL, with the latter raising to $45 from $43. ORCL is off its March highs, but is up 8.2% for the year, and currently sits just above its 200-day moving average. In the options pits, sentiment has dramatically shifted over the past few weeks, with Oracle Corporation's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.20 sitting in the 97th 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!
 

Biden’s government just announced a new government "stimulus program"...

And it could hand you a payment for as much as $7,882 — each quarter.

See, it has to do with a recent 19-page memo from Biden’s office...

Directing the government to once again send a form of "stimulus payments" to the mailboxes of Americans during these difficult times.

Better still, you can collect these payouts every single quarter — for life...

Payments run as high as $7,882... And it only takes five minutes to sign up.

I call this the "Stimulus Stipends" program…

And Forbes recently declared that you can "retire rich" thanks to this program.

So if you want to start cashing in your quarterly payouts — courtesy of the U.S government...

Discover how to receive your FIRST "Stimulus Stipends" payment for up to $7,882 here. 
 (ad)
 

election 2024 report

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD                                                  

 
 

VOLATILITY SCORECARD

 


                                               AD                                                    
Crazy Opportunity!! Tiny AI Stock just $3
“This Type of AI Will Be Worth “Ten MSFTs.”

                                               AD                                                    

 
4 AI STOCKS TO BUY NOW
 

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD