Analyst Upgrades: Amazon, Advanced Micro Devices, Syros

Analysts upwardly revised their ratings and price targets on Amazon.com, Inc. (NASDAQ:AMZN), Advanced Micro Devices, Inc. (NASDAQ:AMD), and Syros Pharmaceuticals Inc (NASDAQ:SYRS)

Jul 25, 2016 at 9:29 AM
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Analysts are weighing in on e-tailer Amazon.com, Inc. (NASDAQ:AMZN), tech stock Advanced Micro Devices, Inc. (NASDAQ:AMD), and biotech Syros Pharmaceuticals Inc (NASDAQ:SYRS). Here's a quick roundup of today's bullish brokerage notes on AMZN, AMD, and SYRS.

  • AMZN -- which will join a number of notable names in the earnings confessional Thursday evening -- saw its price target raised to $835 from $775 at Wedbush. Not only does this represent a 12.1% premium to Friday's close at $744.86, but it stands in territory yet to be charted. Nevertheless, Amazon.com, Inc. has been on fire in recent months, rallying more than 57% off its early February lows near $474, and notched a record peak of $757.43 on July 12. Against this impressive technical backdrop, most analysts are in AMZN stock's bullish corner, with 29 out of 31 maintaining a "buy" or better rating, and not a single "sell" to be found.

  • Wall Street continues to wax optimistic on AMD, following the chipmaker's solid earnings report last week. Most recently, Exane BNP Paribas boosted its price target on AMD by 69% to $5.30. While this still represents a discount to last week's close at $5.84, shares of AMD are up 0.9% in electronic trading -- and could take a swipe at Friday's four-year high at $5.97. Longer term, Advanced Micro Devices, Inc. has doubled in 2016, and short-term options traders are much more call-skewed than usual. Specifically, AMD stock's Schaeffer's put/call open interest ratio (SOIR) of 0.38 rests lower than 88% of all comparable readings taken in the past year.

  • JMP Securities, Cowen and Company, Wedbush, and Piper Jaffray all initiated coverage on Wall Street freshman SYRS with the equivalent of an "outperform" rating. What's more, the former three set their price targets in the $18-$22 range, well above last week's close at $11.45 -- sending the shares of the cancer specialist up 4.8% ahead of the bell. Since opening at $15 in its June 30 debut, Syros Pharmaceuticals Inc has shed 24%, topping out at a peak of $21.50 on July 1, and hitting a bottom of $11.07 last Thursday.
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