Analyst Upgrades: Nordstrom, Inc., Advanced Micro Devices, Inc., and Eli Lilly and Co

Analysts upwardly revised their ratings and price targets on retailer Nordstrom, Inc. (JWN), semiconductor stock Advanced Micro Devices, Inc. (AMD), and biotech Eli Lilly and Co (LLY)

Jan 18, 2017 at 9:48 AM
facebook X logo linkedin


Analysts are weighing in on retailer Nordstrom, Inc. (NYSE:JWN), semiconductor stock Advanced Micro Devices, Inc. (NASDAQ:AMD), and biotech Eli Lilly and Co (NYSE:LLY). Here's a quick roundup of today's bullish brokerage notes on JWN, AMD, and LLY.

  • JWN is down 1.3% at $43.76, despite some bullish analyst attention from Credit Suisse, which upgraded JWN to "outperform" from "neutral," and issued a price-target hike to $58 from $48, calling Nordstrom, Inc. "one of the best franchises in the retail sector," and "differentiated from other mall anchors." In addition, the analyst predicted "outsized earnings growth relative to peers." Despite its history of outperforming in the first year of presidential cycles, JWN has stair-stepped nearly 14% lower over the past month, as brick-and-mortar retailers continue to report lackluster holiday sales. There are plenty of shorts rooting against the stock, with nearly 20% of JWN's float sold short, which would take nearly a week and a half to cover, at the equity's average daily volume.

  • AMD is 0.2% higher at $9.83, thanks to a price-target hike to $9 from $7 from Barclays. AMD absolutely crushed it in 2016, but has dropped more than 21% since tagging a nine-year high in late December, and yesterday ended lower for a fifth straight day. In the option pits, Advanced Micro Devices, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 0.98 is in the 90th percentile of its annual range, indicating near-term options traders are much more put-heavy than usual.

  • LLY is trading up 0.6% at $77.29, after news broke that the biotech would be purchasing CoLucid Pharmaceuticals Inc (NASDAQ:CLCD), which specializes in migraine medications, for $960 million. LLY also received a price-target hike to $92 from $85 by Goldman Sachs -- in annual-high territory. LLY is up 20% since its November lows, though the shares could be running into resistance at their 320-day moving average -- a trendline that blocked several other rally attempts over the past 12 months. In the option pits, Eli Lilly and Co's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 9.67 sits just 8 percentage points from an annual peak, hinting at a much healthier-than-usual appetite for long calls over puts of late.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI