Analyst Upgrades: Macy's Inc, QUALCOMM, Inc., and Teva Pharmaceutical Industries Ltd

Analysts upwardly revised their ratings and price targets on Macy's Inc (M), QUALCOMM, Inc. (QCOM), and Teva Pharmaceutical Industries Ltd (TEVA)

Oct 31, 2016 at 9:41 AM
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Analysts are weighing in on department store Macy's Inc (NYSE:M), digital communications stock QUALCOMM, Inc. (NASDAQ:QCOM), and drugmaker Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA). Here's a quick roundup of today's bullish brokerage notes for M, QCOM, and TEVA.

  • M saw its rating upgraded to "buy" from "hold" at Deutsche Bank, which also increased its price target to $45 from $40. The upbeat note has the shares 2.4% higher at $36.43. Nevertheless, Macy's Inc has still surrendered 29% on a year-over-year basis. That hasn't stopped options traders from placing bullish bets on the stock. M sports a 50-day call/put volume ratio of 2.49 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ranking near the top quartile of its annual range.
  • Nomura boosted its assessment of QCOM to "buy" from "neutral," and lifted its price target to $80 from $55 -- two-year-high territory for the shares. Out of the gate, the stock has popped 0.6% at $68.83, extending its year-to-date lead to nearly 38%. On the fundamental front, QUALCOMM, Inc. -- which just made a $38 billion purchase -- is scheduled to report earnings this Wednesday night, and expectations across Wall Street look pretty high. Most notably, the stock sports a 10-day ISE/CBOE/PHLX call/put volume ratio of 4.37, outstripping 88% of all comparable readings taken in the last 12 months.
  • TEVA is off 1% at $41.91, despite an upgrade to "outperform" from "neutral" at Credit Suisse -- though the brokerage firm did trim its price target to $52 from $59. On the charts, the shares have had it rough, and two weeks ago, touched a two-year low of $41.67. But, like Credit Suisse, most analysts have taken a glass-half-full approach toward Teva Pharmaceutical Industries Ltd. Eleven out of 17 rate the stock a "buy" or better, without a single "sell" opinion to be found.
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