Analyst Upgrades: Kite Pharma Inc, Pandora Media Inc, and Whiting Petroleum Corp

Analysts upwardly revised their ratings and price targets on Kite Pharma Inc (KITE), Pandora Media Inc (P), and Whiting Petroleum Corp (WLL)

Jul 13, 2016 at 9:05 AM
facebook twitter linkedin


Analysts are weighing in on drugmaker Kite Pharma Inc (NASDAQ:KITE), streaming broadcaster​ Pandora Media Inc (NYSE:P), and oil-and-gas stock Whiting Petroleum Corp (NYSE:WLL). Here's a quick roundup of today's bullish brokerage notes on KITE, P, and WLL.

  • Stifel bumped its price target on KITE up to $74 from $63, in waters not charted since December 2015. With upbeat drug news from sector peer Juno Therapeutics Inc (NASDAQ:JUNO) serving as additional tailwind, the stock has jumped 7.5% pre-market after settling at $46.96 yesterday, as it attempts to dig out of a nearly 24% year-to-date deficit. The bulls have been buzzing around Kite Pharma Inc for quite some time, despite its long-term technical struggles. For instance, eight of nine analysts rate the stock a "buy," versus one "hold" and not a single "sell." Likewise, KITE call buying has transpired at a rapid-fire rate in recent months.

  • P's rating was lifted to "overweight" from "neutral" at Piper Jaffray, which also upwardly revised its price target to $18 from $12. This comes as little surprise, as the shares have been red-hot in recent months -- adding 84% since their mid-February lows to rest at $13.07. Plus, Pandora Media Inc is pointed another 4.3% higher ahead of the bell. Suffice it to say, conditions may be getting uncomfortable for short sellers, who account for over 27% of the stock's float. At P's average trading levels, it would take nearly eight sessions to cover those positions, hinting at ample sideline cash.

  • WLL saw Credit Suisse raise its opinion to "outperform" and its price target to $14 -- a 59% premium to Tuesday's close at $8.80. The bullish note has the stock 2.4% higher in electronic trading, though it's lost 39% since its early June highs. Meanwhile, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been wagering on extended losses for Whiting Petroleum Corp. The stock's 50-day put/call volume ratio of 1.32 ranks just 4 percentage points from an annual high.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!
 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1