Analyst Upgrades: bluebird bio Inc, Tilly's Inc, and Chevron Corporation

Analysts upwardly revised their ratings and price targets on bluebird bio Inc (BLUE), Tilly's Inc (TLYS), and Chevron Corporation (CVX)

Dec 1, 2016 at 10:08 AM
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Analysts are weighing in on drugmaker bluebird bio Inc (NASDAQ:BLUE), retail stock Tilly's Inc (NYSE:TLYS), and oil interest Chevron Corporation (NYSE:CVX). Here's a quick roundup of today's bullish brokerage notes on BLUE, TLYS, and CVX.

  • BLUE is soaring 20.3% higher to $72.63 this morning after the company reported positive results in an early phase trial of its multiple myeloma treatment. The news was met with price-target hikes from no fewer than four brokerage firms, including Goldman Sachs, which set the highest bar, at $141 -- a 94% premium over current levels, and a region not seen since September 2015. Today's rally has bluebird bio Inc well into positive year-to-date territory, and the stock could see even more gains, should short sellers begin to back off. At present, short interest represents roughly one-quarter of BLUE's available float, or a week's worth of trading, at average daily volumes. 

  • A third-quarter earnings beat has TLYS up 28.5% at $12.68 -- fresh off a new annual high of $12.80 -- widening its 2016 lead to over 91%. At least four analysts have already raised their price targets on the stock as a result, including B. Riley, which revised its target to $14 from $12. It looks like today could be a repeat of last quarter's post-earnings pop, but Tilly's Inc could stand to benefit from more bullish attention from the brokerage bunch. Currently, four out of seven firms following the security rate it a lukewarm "hold." 

  • Independent Research upgraded CVX to "buy" from "hold," while also raising its price target on the stock to $130 from $108 -- representing two-year high territory. Along with an overall rise in oil prices, the move has Chevron Corporation trading 2.1% higher at $113.88, after tapping a nearly two-year high of $113.95 earlier. CVX has added an impressive 27% on the charts so far this year, and options traders seem to be betting on further gains. Specifically, the stock holds a 10-day call/put volume ratio of 0.90 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- higher than nearly three-fourths of all readings from the past year. 
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