Analysts upwardly revised their ratings and price targets on Texas Instruments Incorporated (TXN), Ixia (XXIA), and Starbucks Corporation (SBUX)
Analysts are weighing in on tech stocks
Texas Instruments Incorporated (NASDAQ:TXN) and
Ixia (NASDAQ:XXIA), as well as coffee giant
Starbucks Corporation (NASDAQ:SBUX). Here's a quick roundup of today's bullish brokerage notes on TXN, XXIA, and SBUX.
- After closing Monday at a 15-year peak of $66.22, TXN is on track to tap an even higher high, up 7.6% ahead of the bell in what feels like déjà vu from last quarter. The company reported strong second quarter earnings last night, along with an upbeat outlook, earning it no fewer than 21 price-target hikes, including one from Drexel Hamilton to $82 from $71. Texas Instruments Incorporated is ahead 21% year-to-date already, and could stand to see even more love from the brokerage bunch, where less than one-third of the analysts following the stock maintain a rating better than "hold." Another round of bullish brokerage notes could help the shares extend their run in multi-year-high territory.
- XXIA received an upgrade to "buy" at Stifel, boosting the shares 1.7% in pre-market trading. At Monday's close, Ixia was down more than 12% on the year, at $10.92, although the stock recently broke out above its 160-day moving average for the first time since early November. While half of analysts providing coverage rate XXIA a "strong buy" -- and not one recommends selling the stock -- there are signs pessimism is building among traders. Specifically, short interest on XXIA climbed 10.5% during the most recent two-week reporting period.
- SBUX is quickly erasing all memory of last week's earnings disappointment, up 1.3% ahead of the open. Boosting the stock is Goldman Sachs, which added SBUX to its "Americas Conviction Buy" list and reiterated its bullish "buy" rating. Specifically, the brokerage firm waxed optimistic on the company's future sales growth and risk/reward setup, saying SBUX could be headed "towards historical levels." Finishing Monday at $57.95, the shares are just above their year-over-year breakeven mark, and optimistic option buyers are likely cheering the rally. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 2.25 sits just 2 percentage point from an annual high.
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