Western Digital, ServiceNow, Boeing Upgraded

Analysts upwardly revised their ratings and price targets on data storage firm Western Digital Corp (WDC), cloud stock ServiceNow Inc (NOW), and aerospace company Boeing Co (BA)

Jan 26, 2017 at 10:00 AM
facebook X logo linkedin


Analysts are weighing in on data storage firm Western Digital Corp (NASDAQ:WDC), cloud stock ServiceNow Inc (NYSE:NOW), and aerospace company Boeing Co (NYSE:BA). Here's a quick look at today's bullish brokerage notes on WDC, NOW, and BA.

Analysts Hike Price Targets For Western Digital

WDC is 1.5% higher at $81.23, fresh off a new annual high of $81.67, after the data storage company delivered an earnings win. The stock has since received no fewer than 14 price-target hikes, including a lift to $122 from $95 at Craig-Hallum -- never-before-seen territory. WDC has been climbing steadily from its May 2016 low near $35, up 86% year-over-year. Now appears to be a prime time to buy options on Western Digital Corp, too. Its Schaeffer's Volatility Index (SVI) of 40% sits lower than 83% of all other readings from the past year, indicating near-term options are attractively priced, from a historical perspective.

ServiceNow Price Targets Raised After Earnings

NOW is up 4.9% at $90.62 -- and earlier hit a new all-time high of $92.98 -- after the cloud company delivered better-than-expected earnings. NOW has received no fewer than 12 price-target hikes, including one to $110 from $100 at Cowen and Company. ServiceNow Inc shares recently took a sharp bounce off their 200-day moving average, and the stock has roughly doubled since its February lows. Short interest rose 5.3% in the latest reporting period, and now accounts for 4.5% of NOW's float. It would take almost eight sessions to cover these bearish bets, at NOW's average trading volume, meaning an exodus of short sellers could fuel the shares higher.

Boeing's Post-Earnings Boom Attracts Analyst Attention

BA is up 0.7% at $168.57 -- and tagged a record peak of $169.25 not long ago -- adding to yesterday's 4.2% post-earnings pop. BA has since attracted no fewer than seven price-target hikes, including one to $200 from $185 at Jefferies. BA is up 45% year-over-year, and recently bounced off its rising 30-day moving average. Though Boeing Co's short interest dropped 13% in the latest reporting period, it would still take shorts more than a week to cover the remaining bearish bets, at BA's average pace of trading. If short sellers continue to exit their positions, the resulting short squeeze could help BA fly even higher.

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