Analyst Update: Twilio Inc, Weatherford International Plc, and Integrated Device Technology Inc

Analysts are weighing in on Twilio Inc (TWLO), Weatherford International Plc (WFT), and Integrated Device Technology Inc (IDTI)

Nov 1, 2016 at 3:18 PM
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Analysts are weighing in on cloud stock Twilio Inc (NYSE:TWLO), oil company Weatherford International Plc (NYSE:WFT), and chip stock Integrated Device Technology Inc (NASDAQ:IDTI). Here's a quick roundup of today's brokerage notes on TWLO, WFT, and IDTI.

  • TWLO is trading up 3.9% at $35.42, after Oppenheimer initiated coverage with an "outperform" rating and a $50 price target – more than a 40% premium over the stock's current perch, but still nearly a 30% discount to the Wall Street rookie's all-time high of $70.96, notched in late September. Before today's surge, TWLO sported a 14-day Relative Strength Index (RSI) of 28 -- in "oversold" territory, suggesting that even without the Oppenheimer boost, a bounce may have been in the cards for the cloud stock. Twilio Inc will report earnings on Thursday, Nov. 3, and earlier this month issued well-received guidance.
  • WFT is sitting 11.8% lower at $4.25 -- and earlier touched a 17-year low of $3.83, landing itself on the short-sale restricted list -- after confirming it would remain within its debt covenants by the end of the year. WFT has already given up more than 30% in the past week, due to lackluster earnings on Oct. 25 -- and possibly in light of recent oil-and-gas M&A news. Adding to that, D.A. Davidson last night cut its price target on WFT to $8 from $9. The struggling oil stock is down nearly 50% year-to-date, with several rally attempts since April squashed by its 160-day moving average. In the option pits, a number of WFT call buyers are likely kicking rocks, given that Weatherford International Plc's (NYSE:WFT) Schaeffer's put/call open interest ratio (SOIR) of 0.37 sits in the bottom 5% of its annual range, suggesting near-term option players have rarely been more call-skewed over the last 12 months. 

  • IDTI is up 10.5% at $22.88, after delivering well-received earnings and scoring a subsequent price-target hike to $25 from $23 at Brean Capital. In addition, Roth Capital said it expects the company's forward growth to match or top reduced current-quarter guidance, and reiterated a "buy" endorsement and $26 price target on IDTI. The chip stock has spent the past few months bouncing along support in the $19-$20 area, but has struggled to break north of the $23-$24 area since a February bear gap. Today's analyst optimism is nothing new for Integrated Device Technology Inc, which is rated a "buy" or better by nine of the 10 brokerage firms covering the stock.
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