Analyst Upgrades: Visa Inc, Advanced Micro Devices, Inc., and Proofpoint Inc

Analysts upwardly revised their ratings and price targets on Visa Inc (NYSE:V), Advanced Micro Devices, Inc. (NASDAQ:AMD), and Proofpoint Inc (NASDAQ:PFPT)

Karee Venema

Jul 22, 2016 at 9:26 AM

PYPL
PFPT
AMD
V

Analysts are weighing in on Dow stock Visa Inc (NYSE:V), chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD), and IT firm Proofpoint Inc (NASDAQ:PFPT). Here's a quick roundup of today's bullish brokerage notes on V, AMD, and PFPT.

After closing last night at $78.79, V is pointed 1.3% higher in electronic trading -- and could take aim at its late-April record high of $81.73. Boosting the shares is a newly announced partnership with Paypal Holdings Inc (NASDAQ:PYPL), a second-quarter profit beat, and no fewer than six price-target hikes. BMO and Cowen and Company offered up the most optimistic outlook, raising their respective price targets to $100. Since hitting their most recent low of $73.25 amid the post-"Brexit" broad-market sell-off, shares of Visa Inc have added nearly 8%. Against this backdrop, options traders have been initiating long calls over puts at faster-than-usual clip. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), V's 10-day call/put volume ratio of 2.37 ranks in the 69th annual percentile.

AMD's better-than-expected second-quarter earnings and strong current-quarter revenue forecast were met with applause from the brokerage bunch. Included in the batch of at least eight upwardly revised price targets was one from Craig-Hallum to $7.50 from $6 -- a nearly 44% premium to last night's close at $5.22, and territory not charted since May 2012. Against this backdrop -- and running counter to one analyst's downbeat projection -- AMD stock is up 10.9% ahead of the bell, on pace to notch a fresh four-year high out of the gate and add to its already impressive 82% year-to-date lead. Should the stock maintain its momentum, more short sellers could be encouraged to jump ship. Short interest on Advanced Micro Devices, Inc. dropped 16.4% in the two most recent reporting periods, but still accounts for a lofty 11.8% of the stock's available float.

PFPT is poised to pop 10.7% out of the gate, after the company turned in a solid earnings report and boosted its full-year forecast. What's more, even though Pacific Crest downgraded the stock to "sector weight" from "overweight," no fewer than nine other brokerage firms raised their price targets. A number of analysts are eyeing a move into uncharted territory, including Northland Securities, which upped its price target to $100 from $85. Longer term, shares of Proofpoint Inc have bounced 84% off their early February annual low of $35.56, and closed last night at $65.27. Short-term options traders have rarely been as put-heavy toward the stock as they are now, though. Specifically, PFPT's Schaeffer's put/call open interest ratio (SOIR) of 1.52 ranks in the 85th annual percentile.

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

Follow @Schaeffers

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade. Professional traders have rushed into the market and are making a mint. Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.