Analysts upwardly revised their ratings and price targets on United Continental Holdings Inc (UAL), Sophiris Bio Inc (SPHS), and VMware, Inc. (VMW)
Analysts are weighing in on airline stock
United Continental Holdings Inc (NYSE:UAL), biotech
Sophiris Bio Inc (NASDAQ:SPHS), and tech stock
VMware, Inc. (NYSE:VMW). Here's a quick roundup of today's bullish brokerage notes on UAL, SPHS, and VMW.
- News that Scott Kirby -- president of American Airlines Group Inc (NASDAQ:AAL) -- will be taking the same position at UAL has lifted the latter company's stock over 4% in electronic trading. What's more, Raymond James upgraded the shares to "outperform" from "market perform," while Henry Harteveldt, a travel sector analyst, tweeted that UAL "got a star player" in Kirby. Most analysts are already bullish on United Continental Holdings Inc, with six of nine rating the stock a "strong buy," and zero "sells" on the books. This optimism comes despite UAL's 18% decline in 2016, last seen at $46.95.
- SPHS is looking at a 6.5% jump when the market opens, after Piper Jaffray initiated coverage with an "overweight" recommendation and a $7 price target -- more than double the stock's Monday close at $3.37. This bullish note comes after Sophiris Bio Inc on Friday said it has closed the public offering it announced a week ago. At the same time, analysts are already pretty high on SPHS, as its average 12-month price target comes in at a lofty $7.83 -- not surprising, considering the shares' 89% gain in 2016.
- VMW has gapped higher twice in the past four months, and has surged 33% year-to-date gain, as of yesterday's close at $75.23. The stock is looking to continue this strong showing today, up 1.3% in pre-market trading, after SunTrust Robinson upgraded its opinion to "buy" from "neutral," and boosted its price target to $92 from $64. Elsewhere, short sellers, for some reason, continue to pile on. During the past two reporting periods, short interest on VMware, Inc. increased by 18%, and now a record 23.7 million shares are sold short. Going by VMW's average daily trading pace, this translates into a stunning 12.6 days' worth of buying power -- meaning the stock could have more room to run, if these bears begin to cover.
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