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)

Jul 22, 2016 at 9:26 AM
facebook X logo linkedin

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

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI