Analyst Upgrades: Facebook, American Express, Skyworks

Analysts upwardly revised their ratings and price targets on social media stock Facebook Inc (FB), credit card company American Express Company (AXP), and semiconductor stock Skyworks Solutions Inc (SWKS)

Jan 20, 2017 at 11:04 AM
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Analysts are weighing in on social media stock Facebook Inc (NASDAQ:FB), credit card company American Express Company (NYSE:AXP), and semiconductor stock Skyworks Solutions Inc (NASDAQ:SWKS). Here's a quick roundup of today's bullish brokerage notes on FB, AXP, and SWKS.

  • FB is up fractionally at $127.57, after Pacific Crest resumed coverage of the stock with an "overweight" rating and $150 price target -- in all-time high territory -- noting that the stock is well-positioned to take advantage of growth opportunities. FB is up more than 35% year-over-year, and recently reclaimed its 100-day moving average, and broke out above resistance in the $124-$125 area. Near-term Facebook Inc option players are more put-heavy than usual, with FB's Schaeffer's put/call open interest ratio (SOIR) of 0.74 sitting higher than 97% of all other readings from the past 12 months.

  • AXP is down 0.4% at $76.42, after the company reported fourth-quarter adjusted earnings that came in under analysts' expectation. Despite the profit miss, an upbeat fiscal 2017 forecast and a round of optimistic analyst attention has helped AXP pare its losses. No fewer than six brokerage firms issued price-target hikes for AXP, including one to $91 from $85 at Bernstein -- in the range of a new annual high. American Express Company shares are up by more than 28% from their mid-October lows, and look to be testing a foothold atop their 30-day moving average. Elsewhere, AXP's SOIR of 1.89 sits just 4 percentage points from an annual peak, indicating a heavier-than-usual put-skew among near-term option traders.

  • SWKS has jumped 12.1% to trade at $87.82 -- and earlier hit a new 12-month high at $88.90 -- after the firm delivered better-than-expected earnings last night, along with upbeat guidance, and announced a $500 million share buyback. Analysts have been quick to weigh in, with no fewer than 13 brokerage firms issuing price-target hikes, including Oppenheimer, which raised its price target to $105 from $100. Today's move has SWKS breaking out above the $80-$82 region that has contained the shares since December 2015. Skyworks Solutions Inc option bears may be sweating, with SWKS' 10-day put/call volume ratio of 1.32 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) resting higher than 79% of all other readings from the past year.
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