Q2 STOCKS TO BUY

Analyst Upgrades: Micron Technology, Inc., Randgold Resources Ltd., and ConocoPhillips

Analysts upwardly revised their ratings and price targets on Micron Technology, Inc. (NASDAQ:MU), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), and ConocoPhillips (NYSE:COP)

Nov 28, 2016 at 10:03 AM
facebook X logo linkedin


Analysts are weighing in on semiconductor stock Micron Technology, Inc. (NASDAQ:MU), gold firm Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), and oil-and-gas stock ConocoPhillips (NYSE:COP). Here's a quick roundup of today's bullish brokerage notes on MU, GOLD, and COP.

  • MU is looking to keep its strong year going, after Deutsche Bank lifted its price target to $24 from $20. The stock -- which has doubled in value since its January low of $9.31 -- was last seen 0.3% higher at $20.18, after touching an annual high of $20.44 on Friday. Options traders certainly share Deutsche Bank's upbeat outlook. For instance, Micron Technology, Inc.'s 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) comes in at a top heavy 6.31, ranking above 86% of the past year's readings. 

  • GOLD is up 2% today at $72.51, thanks to a price-target hike to $125 from $120 at Dundee. This target sits just below the stock's three-year high of $126.55 from July. Since then, the shares have surrendered nearly 43%, breaching their 320-day moving average earlier this month amid post-election headwinds. Still, most analysts are hopeful, with two-thirds rating Randgold Resources Ltd. a "strong buy," and none calling it a "sell." 

  • COP is getting a boost from Goldman Sachs, after the brokerage firm added the stock to its "Americas Conviction Buy" list, upgraded its rating to "buy" from "neutral," and lifted its price target to $54 from $47. The shares are 1.1% higher at $46.26, but are running out of steam near their year-to-date breakeven point. Bullish or bearish, now appears to be a prime time to buy premium on ConocoPhillips. The stock's Schaeffer's Volatility Index (SVI) of 35% sits just 3 percentage points from a 12-month low, meaning the options market is pricing in unusually low volatility expectations at the moment. 
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here