Analyst Upgrades: Alibaba Group Holding Ltd, Autodesk, Inc., and Pure Storage Inc

Analysts are weighing in on internet retailer Alibaba Group Holding Ltd (NYSE:BABA), software stock Autodesk, Inc. (NASDAQ:ADSK), and tech firm Pure Storage Inc (NYSE:PSTG). Here's a quick roundup of today's bullish brokerage notes on BABA, ADSK, and PSTG.

• BABA saw its price target bumped to $130 from $95 at MKM Partners. The positive attention is well-deserved, considering the stock -- which closed at $93.94 yesterday -- has soared since bottoming around $60 in February. Options traders have been on Alibaba Group Holding Ltd's bullish bandwagon, too. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BABA's 10-day call/put volume ratio checks in at 2.81 -- with long calls nearly tripling puts -- in the high 95th percentile of its annual range.


• Fresh off an upbeat earnings report, ADSK shares have jumped 4.4% in pre-market trading. Giving the stock an additional lift is a round of price-target hikes from the like of Barclays, Goldman Sachs, and at least six other brokerage firms. As a result, bearish options traders could be on pins and needles. Autodesk, Inc. has racked up an ISE/CBOE/PHLX put/call volume ratio of 1.37 over the past 10 days, registering in the top quartile of its 12-month range. Plus, the stock has come roaring back from its early summer sell-off, rallying 28% from its June bottom at $49.82 to hover at $63.70.


• PSTG reported a narrower-than-expected second-quarter loss and its sales came in above estimates, prompting a raft of upbeat analyst attention. Specifically, no fewer than six brokerage firms raised their price targets on the stock -- though Morgan Stanley and Raymond James cut their respective price targets to $21 and $16. Pure Storage Inc is poised to gap 14% higher at the open, which would effectively close its bear gap from earlier this month on a negative note from OTR Global. Plus, a round of short covering could add fuel to the fire, with 18.6 million shares sold short -- almost 30 times the equity's typical daily trading level. Yesterday, PSTG closed at $11.83, down 15% from its mid-August highs near $14.

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