Analyst Upgrades: Alphabet Inc, Biogen Inc, and Intel Corporation

Analysts upwardly revised their ratings and price targets on Alphabet Inc (NASDAQ:GOOGL), Biogen Inc (NASDAQ:BIIB), and Intel Corporation (NASDAQ:INTC)

Josh Selway

Nov 7, 2016 at 9:35 AM

Analysts are weighing in on Google parent Alphabet Inc (NASDAQ:GOOGL), biotech stock Biogen Inc (NASDAQ:BIIB), and Dow stock Intel Corporation (NASDAQ:INTC). Here's a quick roundup of today's bullish brokerage notes for GOOGL, BIIB, and INTC.

GOOGL popped 1.5% at the open to $793.20 following a bullish note from brokerage firm Baird. The analysts reiterated their "outperform" opinion and $930 price target, saying they believe the company's Maps business "will grow into a $5 billion incremental revenue business over the next 3-4 years." Alphabet Inc currently sits just 2% above its year-to-date breakeven mark, while options traders have shown an unusual appetite for long puts lately. Specifically, GOOGL's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 0.84, which is higher than 87% of the past year's readings.

BIIB is up 5.2% at $291.40, after the company announced positive late-stage trial results for its spinal muscular atrophy treatment, Spinraza. In the meantime, Piper Jaffray upgraded its outlook to "overweight" from "neutral," falling in line with the general opinion across Wall Street. That is, 10 of 16 analysts recommend buying Biogen Inc, and none say it's a "sell." Year-over-year, however, BIIB is still in the red.

A price-target increase to $45 from $42 at Susquehanna has INTC 1.9% higher at $34.25. Prior to this morning's rally, the stock had been struggling since its post-earnings bear gap last month, and is slightly lower in 2016. Despite this, options traders appear hopeful. During the past 10 weeks at the ISE, CBOE, and PHLX, Intel Corporation has posted a call/put volume ratio of 2.36, which is just 3 percentage points from a 12-month high.

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