Analyst Update: GW Pharmaceuticals PLC, Advanced Micro Devices, Inc., and Fifth Third Bancorp

Analysts are weighing in on GW Pharmaceuticals PLC - ADR (GWPH), Advanced Micro Devices, Inc. (AMD), and Fifth Third Bancorp (FITB)

Oct 7, 2016 at 2:59 PM
facebook twitter linkedin


Analysts are weighing in on drugmaker GW Pharmaceuticals PLC - ADR (NASDAQ:GWPH), semiconductor stock Advanced Micro Devices, Inc. (NASDAQ:AMD), and banking concern Fifth Third Bancorp (NASDAQ:FITB). Here's a quick roundup of today's brokerage notes on GWPH, AMD, and FITB.

  • Goldman Sachs initiated coverage on GWPH with an upbeat "buy" rating and a $189 price target -- representing a 45% premium over the current price -- citing an anticipated "solid launch trajectory" for the company's Epidiolex drug. It appears traders may be less than impressed with the bullish note, however, as the shares were last seen 1.9% lower at $130.55. Of course, the dip won't be much skin off the back of shareholders, as GW Pharmaceuticals PLC is still sitting on an 88% year-to-date lead. In fact, the stock hit an all-time high of $137.88 this morning, when the shares popped higher out of the gate. While options traders have been betting on more gains for the security, short interest has been climbing. These bearish bets rose by nearly 13% during the last two reporting periods, and now represent 13.2% of GWPH's total float -- just shy of July's record-high levels.
  • AMD is down 3.2% at $6.74, after Barclays started coverage on the stock with a tepid "equal weight" rating and a price target of $7. This marks a change of pace for the equity, which has been raking in the bullish analyst attention of late. Still, more than half of the brokerage firms following Advanced Micro Devices, Inc. call it a "hold" or worse. Technically, the stock has been a powerhouse, adding 249% year-over-year. Plus, its most recent pullback was contained by its 80-day moving average, which has provided support since early March.
  • FITB is off 0.4% at $20.66, following a mixed bag of brokerage notes. Specifically, Wedbush initiated coverage on the stock with a "neutral" rating and a $22 price target, while Jefferies cut its rating to "hold" from "buy," but raised its price target to $22 from $19.50. Meanwhile, BMO and J.P. Morgan Securities increased their price targets on Fifth Third Bancorp to $20 and $21, respectively. FITB is up just 2.8% year-to-date, but has added a healthy 49% since hitting a three-year low of $13.84 in mid-February. On top of that, the shares appear to have a strong foothold at their rising 30-day moving average. Still, analysts seem to have rather low expectations for the stock. Of 25 brokerage firms tracking FITB, 19 maintain a lukewarm "hold" opinion. Plus, the average 12-month price target of $20.85 sits roughly in line with current levels.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners