Analysts upwardly revised their ratings and price targets on Whiting Petroleum Corp (WLL), Regeneron Pharmaceuticals Inc (REGN), and Advanced Micro Devices, Inc. (AMD)
Analysts are weighing in on oil-and-gas stock
Whiting Petroleum Corp (NYSE:WLL), biotech
Regeneron Pharmaceuticals Inc (NASDAQ:REGN), and chipmaker
Advanced Micro Devices, Inc. (NASDAQ:AMD). Here's a quick roundup of today's bullish brokerage notes on WLL, REGN, and AMD.
- WLL is set to pop 8% at the open, as crude oil prices explore annual-high territory. Also boosting shares of Whiting Petroleum Corp is a price-target hike to $13 from $9 at Wunderlich. The stock is up roughly 29% year-to-date based on last week's settlement at $12.14, and has recently found a solid foothold above the $12 mark. Options traders seem to be eyeing more gains, too. WLL's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at a top-heavy 5.54 -- higher than 91% of all readings from the past 12 months, suggesting calls have been bought to open over puts at an accelerated clip in recent months.
- REGN is up 4.1% ahead of the bell, following an upgrade to "neutral" from "sell" at Chardan Capital, which also raised its price target on the stock to $350 from $300. Also creating a boon for REGN is news competitor Ophthotech Corp's (NASDAQ:OPHT) combination treatment for age-related macular degeneration failed to meet its primary endpoint in a late-stage trial. According to an analyst from RBC, the results mean that Regeneron Pharmaceuticals Inc's drug, Eylea, should remain the standard treatment for the disease. It's been a rough year for REGN, though, off 31% to close Friday at $372.83 -- so, it's little surprise analysts have largely been skeptical. In fact, of the 17 brokerage firms tracking the shares, 11 rate them a "hold" or worse.
- AMD could make another run at nine-year highs today -- up 1.8% in electronic trading -- after BMO raised its rating on the stock to "outperform" from "market perform" and more than doubled its price target, to $15 from $6. At $10.34, shares of Advances Micro Devices, Inc. have tacked on an incredible 260% in 2016 -- and tagged $10.66 last Thursday, their highest mark since November 2007. And while analysts are slowly beginning to raise their opinions, nearly 12% of AMD's available float remains tied up in short interest. This could create a short-covering situation, which may give the outperforming stock an additional boost.
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