Analyst Upgrades: Apple Inc., Advanced Micro Devices, Inc., and Barracuda Networks Inc

Analysts upwardly revised their ratings and price targets on Apple Inc. (AAPL), Advanced Micro Devices, Inc. (AMD), and Barracuda Networks Inc (CUDA)

by Alex Eppstein

Published on Oct 12, 2016 at 9:13 AM

Analysts are weighing in on iPhone parent Apple Inc. (NASDAQ:AAPL), chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD), and data protection stock Barracuda Networks Inc (NYSE:CUDA). Here's a quick roundup of today's bullish brokerage notes on AAPL, AMD, and CUDA.

  • AAPL could make a run at a seventh consecutive daily win -- its longest streak since February 2015 -- with the shares edging higher in electronic trading. Boosting the stock is a price-target hike to $130 from $120 at Mizuho, in territory not charted since last July. Specifically, the brokerage firm sees Apple Inc.'s per-share earnings and revenue coming up in-line or slightly above estimates for the fourth quarter, and said the company could benefit from the Galaxy Note 7 issues at Samsung. As the stock muscles higher -- notching its highest close of 2016 yesterday at $116.30 -- options traders have grown bullish. AAPL's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio rests at an annual high of 2.48.

  • Credit Suisse bumped its assessment of AMD up to "neutral" from "underperform," and raised its price target to $7 from $5.50 -- something that's become a pattern in recent weeks. As such, the stock is pointed 1.2% higher pre-market, after closing yesterday at $6.50 -- up over 126% in 2016. Despite Advanced Micro Devices, Inc.'s impressive gains, short sellers haven't been shying away. During the most recent reporting period, short interest spiked nearly 14%, and now accounts for over 12% of AMD's float. On the other hand, analysts have become more optimistic toward the shares in recent years.

  • Fresh off a better-than-expected earnings report, CUDA is basking in positive analyst attention. Specifically, Piper Jaffray upgraded its rating to "overweight" from "neutral," and was one of at least four brokerage firms to lift its price target on the stock. Not surprisingly, Barracuda Networks Inc is poised to pop 12% at the open. Plus, after closing yesterday at $23.33, the shares could make a run at their annual high of $25.77. Assuming these gains materialize, additional bullish attention could be around the corner. After all, the majority of analysts tracking CUDA regard the outperformer as either a "hold" or a "strong sell."
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!


  
 

Partnercenter


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


Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
Tiffany Stock Drops as Takeover Talks Dissipate
LVMH was to acquire Tiffany & Co in a billion-dollar deal
Coty Stock Glows Up with Possible Kardashian Cosmetics Line
The trendy cosmetics company is in talks with reality TV star Kim Kardashian West over a line of beauty products
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.