Analyst Upgrades: Facebook Inc, Groupon Inc, and Walgreens Boots Alliance Inc

Analysts upwardly revised their ratings and price targets on Facebook Inc (FB), Groupon Inc (GRPN), and Walgreens Boots Alliance Inc (WBA)

Oct 17, 2016 at 9:28 AM
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Analysts are weighing in on social media stock Facebook Inc (NASDAQ:FB), daily deals site Groupon Inc (NASDAQ:GRPN), and pharmacy firm Walgreens Boots Alliance Inc (NASDAQ:WBA). Here's a quick roundup of today's bullish brokerage notes on FB, GRPN, and WBA.

  • Pivotal Research upped its price target on FB to $175 from $167, while Credit Suisse raised its outlook to $170 from $154, both marking record-high territory for the stock. It's hard to criticize the brokerage firms for their optimistic perspectives, considering the shares have soared 22.2% year-to-date at $127.88 -- thanks to a steady stream of positive news. And by no means are Pivotal Research and Credit Suisse the only ones on Facebook Inc's bullish bandwagon. In fact, 29 of 31 covering analysts rate the stock a "buy" or better, with not a single "sell" opinion to be found.

  • GRPN is pointed 6.4% higher in pre-market trading, boosted by a bullish note from Wedbush. Specifically, the brokerage firm raised its rating to "outperform" from "neutral," and increased its price target to $6.50 -- in annual-high territory. Already, Groupon Inc shares have had a stellar 2016, running 63% higher to Friday's settlement at $5.01. Meanwhile, expectations have been building in the options pits. Based on data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open nearly 10 calls for every put over the last two weeks. GRPN's resultant 10-day call/put volume ratio of 9.83 outstrips 69% of all comparable readings from the past year.
  • WBA hasn't had the best year, down 8% in 2016 at $78.31. But that didn't stop Jefferies from upgrading its assessment to "buy" from "hold," and lifting its price target to $95 from $87 -- near the stock's October 2015 annual high. On the other hand, Cowen slashed its price target on Walgreens Boots Alliance Inc to $95 from $102. Amid the mixed attention, the shares are up 1.6% in electronic trading, which could frustrate some recent put buyers. Specifically, WBA's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.20 ranks in the 71st annual percentile. Looking ahead, Walgreens will report earnings on Thursday morning.
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