Analysts upwardly revised their ratings and price targets on FB, AXP, and SWKS
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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