Analyst Upgrades: FedEx Corporation, NVIDIA Corporation, and Oracle Corporation

Analysts upwardly revised their ratings and price targets on FedEx Corporation (FDX), NVIDIA Corporation (NVDA), and Oracle Corporation (ORCL)

Dec 14, 2016 at 9:10 AM
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Analysts are weighing in on shipment specialist FedEx Corporation (NYSE:FDX), semiconductor stock NVIDIA Corporation (NASDAQ:NVDA), and software guru Oracle Corporation (NYSE:ORCL). Here's a quick roundup of today's bullish brokerage notes on FDX, NVDA, and ORCL.

  • FDX hit a record high of $201.57 yesterday -- despite The Wall Street Journal reporting the company's struggles handling holiday orders -- before settling at $201.02. In response to the technical milestone, Baird raised its price target to $209 from $191. For the most part, analysts are already on FedEx Corporation's bullish bandwagon. Specifically, 60% of brokerage firms tracking the stock rate it a "strong buy," with not a single "sell" opinion to be found. Looking ahead, FDX is scheduled to report earnings next Tuesday night.

  • NVDA is 1.5% higher pre-market, following an upgrade to "buy" from "hold" at Evercore ISI. The shares have been blistering higher in 2016, adding nearly 177% at $91.17 to pace the broader S&P 500 Index (SPX). An exodus among short sellers could reinforce buying power on NVIDIA Corporation, too. Nearly 14% of the stock's float is sold short, which would take over a week to cover, at NVDA's average daily trading rate.

  • J.P. Morgan Securities upped its price target on ORCL to $42 from $41, ahead of today's meeting between President-elect Donald Trump and several of Silicon Valley's top execs, including Oracle co-CEO Safra Catz. Not to mention, the tech giant's earnings report is due tomorrow night. In any case, the brokerage firm's upwardly revised price target matches the stock's annual high notched in March, and represents a slight premium to Tuesday's close at $40.76. Options players don't appear to be hopeful. Oracle Corporation sports a 10-day put/call volume ratio of 1.35 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- in the lofty 84th percentile of its annual range.
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