Analyst Upgrades: Akamai Technologies, Inc., AK Steel Holding Corporation, and Juniper Networks, Inc.

Analysts upwardly revised their ratings and price targets on Akamai Technologies, Inc. (AKAM), AK Steel Holding Corporation (AKS), and Juniper Networks, Inc. (JNPR)

by Alex Eppstein

Published on Oct 26, 2016 at 9:41 AM

Analysts are weighing in on cloud concern Akamai Technologies, Inc. (NASDAQ:AKAM), commodity stock AK Steel Holding Corporation (NYSE:AKS), and tech issue Juniper Networks, Inc. (NYSE:JNPR). Here's a quick roundup of today's bullish brokerage notes for AKAM, AKS, and JNPR.

  • AKAM reported better-than-expected earnings last night, winning cheers on Wall Street. Specifically, no fewer than 11 analysts raised their price targets on the stock, with Deutsche Bank and B. Riley setting the highest bars, both at $75. Out of the chute, Akamai Technologies, Inc. is 12.4% higher at $66.40, its highest perch in nearly a year. As such, option bears could be scrambling for the exits. AKAM's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.84 outranks 84% of all readings from the past year.
  • Just a day after exploding on earnings, AKS has gained another 5% at $5.53, thanks to a round of bullish analyst notes. Specifically, BofA-Merrill Lynch raised its opinion to "buy," while Jefferies, Cowen, and BMO all lifted their price targets. Year-to-date, AK Steel Holding Corporation shares have rocketed more than 147%, turning up the heat on short sellers. After all, roughly 29% of the stock's float is sold short, which would take one week to cover, at AKS' typical daily trading volume.
  • JNPR has jumped 10.1% this morning at $26.12, buoyed by an earnings beat and impressive guidance, as well as a raft of bullish brokerage notes. At least eight analysts lifted their price targets on the stock, with J.P. Morgan Securities, Cowen, and Barclays setting their sights the highest, at $28 -- which would mark a year-to-date high. Despite today's bullish gap, Juniper Networks, Inc. remains on an 5.4% deficit for 2016. Shifting to the options pits, short-term traders are extremely call-focused at the moment. JNPR's Schaeffer's put/call open interest ratio (SOIR) rests at an annual low of 0.46, with calls doubling puts among options in the front three-months' series.
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