Analyst Upgrades: AstraZeneca plc, Electronic Arts Inc., and Pandora Media Inc

Analysts upwardly revised their ratings and price targets on AstraZeneca plc (ADR) (AZN), Electronic Arts Inc. (EA), and Pandora Media Inc (P)

Sep 12, 2016 at 9:23 AM
facebook X logo linkedin


Analysts are weighing in on drugmaker AstraZeneca plc (ADR) (NYSE:AZN), video game stock Electronic Arts Inc. (NASDAQ:EA), and music discovery platform Pandora Media Inc (NYSE:P). Here's a quick roundup of today's bullish brokerage notes on AZN, EA, and P.

  • AZN saw its rating upgraded to a "buy" from a "hold" at Jefferies, while the brokerage firm raised its price target to 5,800P from 5,400P, citing high hopes for the drugmaker's lung cancer combination immunotherapy. As such, the stock is 1.3% higher in electronic trading, after settling Friday at $32.20. More broadly speaking, AstraZeneca plc shares have been a mixed bag -- rallying hard off their mid-June lows around $27, but struggling since hitting an annual high of $35.04 in early August. Meanwhile, options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 60.50 calls for every put in the last 10 days -- a ratio that sits just 2 percentage points from an 12-month peak.
  • EA's price target was raised to $87 from $83 at Stifel. The stock ended last week at $79.86, taking a breather after running to a record high of $84.45 on Sept. 6. Despite outperforming over the long haul, Electronic Arts Inc. has been a target of short sellers. Despite a nearly 20% drop in short interest over the past two reporting periods, 6.4% of the stock's float is still dedicated to these bearish bets. At EA's typical daily volume, it would take one week to cover -- hinting at the potential for a short-squeeze rally.
  • P, which is set to join Amazon.com, Inc. (NASDAQ:AMZN) in offering new music streaming services, received an upgrade to a "buy" from a "neutral at SunTrust Robinson -- which lifted its price target by $6 to $18, as well. This has given Pandora Media Inc a 4% boost in pre-market trading. Last Friday, the stock ended at $13.62, and it's been steadily rising since its April lows just above $8. Yet, P's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.51 ranks in the 97th annual percentile, hinting at a stronger-than-usual bias toward long puts over calls.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI