Analyst Upgrades: CF Industries, Square, Tableau Software

Analysts upwardly revised their ratings and price targets on CF Industries Holdings, Inc. (CF), Square Inc (SQ), and Tableau Software Inc (DATA)

Aug 23, 2016 at 9:14 AM

DATA
SQ
CF

Analysts are weighing in on fertilizer firm CF Industries Holdings, Inc. (NYSE:CF), payment processing specialist Square Inc (NYSE:SQ), and tech stock Tableau Software Inc (NYSE:DATA). Here's a quick roundup of today's bullish brokerage notes on CF, SQ, and DATA.

CF received an upgrade to "buy" at UBS, which also lifted its target price to $28 from $22. The bullish note has the stock pointed 3.2% higher in pre-market trading, which shareholders would gladly welcome -- considering CF Industries Holdings, Inc. has surrendered 42% year-to-date at $23.69, making it one of the worst S&P 500 Index (SPX) performers of 2016. In fact, earlier this month, the shares touched a nearly six-year low of $20.77. Amid these technical woes, short sellers have been active. Short interest on CF spiked 8.7% during the most recent reporting period, and now accounts for 13.4% of the stock's total float.

SQ has jumped 3.5% ahead of the bell, after having its rating upgraded to a "buy" at Stifel. Amid some encouraging fundamental developments for the company -- including a solid turn in the earnings confessional -- the shares have been running hot since flirting with the $8.50 level in late June, and settled yesterday at $11.82. Based on these technicals, Square Inc may be in line for additional upgrades, considering 11 of 18 analysts rate the stock a lukewarm "hold." SQ could also be on the cusp of a short-squeeze situation, as it would take 6.4 days to cover the roughly 17 million shares sold short, at typical trading levels.

Barclays raised its price target on DATA to $71 from $59, while Baird lifted its target price to $65 from $60, following the firm's C-suite shakeup. Ahead of the bell, the stock has rocketed 7.2% higher, after settling yesterday at $54.87. Tableau Software Inc has now jumped 50% since its post-bear gap lows in February. Meanwhile, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), call options have been in demand. Specifically, traders have bought to open 10.26 calls for every put, yielding a call/put volume ratio that ranks in the bullishly skewed 89th percentile of its annual range.

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