Facebook, Cirrus Logic, Qorvo Upgraded

Analysts upwardly revised their ratings and price targets on FB, CRUS, and QRVO

Feb 2, 2017 at 9:27 AM
facebook X logo linkedin

Analysts are weighing in on social media stock Facebook Inc (NASDAQ:FB), as well as Apple Inc. (NASDAQ:AAPL) suppliers Cirrus Logic, Inc. (NASDAQ:CRUS) and Qorvo Inc (NASDAQ:QRVO). Here's a roundup of today's bullish brokerage notes on FB, CRUS, and QRVO.

Facebook Eyes Fresh Highs After Earnings

FB's earnings beat was met with a flurry of bullish analyst notes. No fewer than 15 brokerage firms raised their price targets on the stock -- with Susquehanna and Raymond James setting the highest bar, at $180 -- even as Pivotal Research lowered its rating and price target to "hold" and $135, respectively. As such, the shares are pointed 0.3% higher pre-market, after settling at $133.23 yesterday, on track to topple their previous record high. Today's bullish analyst attention is just more of the same for FB, which has received 30 "buy" or better ratings, versus three "holds" and not one "sell."

Cirrus Logic Braces For Post-Earnings Slide

CRUS is set to plunge 9.7% out of the gate on a weak outlook, despite topping earnings estimates and subsequently receiving applause on the Street. Specifically, Oppenheimer, Craig-Hallum, and Needham boosted their price targets. On the other hand, Canaccord Genuity trimmed its target to $68 from $70. Today's potential plunge would mark a sharp reversal for CRUS, which touched a record high of $64.16 yesterday before settling at $63.96. Heavy losses could provoke a round of downgrades, as eight of 11 analysts rate the stock a "buy" or better, compared to three "holds" and not a single "sell" opinion.

Current-Quarter Guidance Slams Qorvo

QRVO is basking in brokerage attention this morning, following a generally upbeat earnings report. No fewer than four analysts raised their price targets on the shares -- though BMO downgraded its rating to "market perform" from "outperform," and was one of three brokerage firms to slash its price target. After closing Wednesday at $64.55 -- up 22.4% in 2017, and fresh off an annual high of $65.97 -- QRVO is pointed 5.7% lower ahead of the open, pressured by a disappointing current-quarter forecast. This could be a coup for short sellers, who upped their positions by 7.7% in the latest two-week reporting period. Nearly one-tenth of the stock's available float is now sold short, representing 8.5 sessions of trading, at QRVO's typical daily volumes.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.

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