Analyst Upgrades: Deere & Company, Panera Bread Co, and TESARO Inc

Analysts upwardly revised their ratings and price targets on Deere & Company (DE), Panera Bread Co (PNRA), and TESARO Inc (TSRO)

by Alex Eppstein

Published on Oct 10, 2016 at 9:28 AM
Updated on Oct 11, 2016 at 8:40 AM

Analysts are weighing in on heavy machinery maker Deere & Company (NYSE:DE), restaurant stock Panera Bread Co (NASDAQ:PNRA), and biotech TESARO Inc (NASDAQ:TSRO). Here's a quick roundup of today's bullish brokerage notes on DE, PNRA, and TSRO.

  • DE is pointed 1.6% higher pre-market, after Wells Fargo upwardly revised its rating to "outperform" from "market perform." The stock settled Friday at $86.30, but is quickly approaching a stubborn layer of resistance around $88, which has already rejected the shares twice this year. If that happens, bullish options traders could turn tail on Deere & Company, exacerbating selling pressure. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), DE has amassed a call/put volume ratio of 1.03 -- in the high 73rd percentile of its annual range.

  • Longbow Research upped its opinion of PNRA to "buy" from "neutral." However, the shares have had a rough go of it lately, tumbling from record-high levels north of $224 to trade at $189.28. Amid this pullback, Panera Bread Co put buyers have been out in force, scooping up bearish bets at a near-extreme clip. Specifically, PNRA's 50-day ISE/CBOE/PHLX put/call volume ratio of 2.01 sits just 1 percentage point shy of a 12-month peak.

  • Fresh off some encouraging trial data, TSRO is feeling the love on Wall Street. BofA-Merrill Lynch raised its assessment to "buy" from "neutral," and was one of at least seven analysts to boost its price target on the stock. Moreover, RBC -- which upped its price target by $6 to $128 -- said TESARO Inc's "Niraparib is the PARP inhibitor to beat and there is no legitimate competitive threat near-term." As such, the shares are perched 15.6% higher ahead of the open, and on track to hit a record peak this morning. Short sellers, meanwhile, are in trouble. Over 28% of TSRO's float is sold short, which would take nearly two weeks to cover, at the stock's typical trading levels.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.
Wall Street Reclaims Two Key Trendlines This Week
U.S.-China tensions and dire economic data still weigh, though
Dell Stock Jumps on Upbeat First Quarter
DELL announced an upbeat first-quarter report
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.