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