Analysts upwardly revised their ratings and price targets on Apple Inc. (AAPL), Twenty-First Century Fox Inc (FOXA), United States Steel Corporation (X)
Analysts are weighing in on Dow stock Apple Inc. (NASDAQ:AAPL), media magnate Twenty-First Century Fox Inc (NASDAQ:FOXA), and mining shares United States Steel Corporation (NYSE:X). Here's a roundup of today's bullish brokerage notes on AAPL, FOXA, and X.
Apple Jumps to Fresh High
AAPL saw its price target raised to $154 from $142 at Canaccord Genuity, representing record-high territory for the shares. Moreover, the brokerage firm remarked, "we believe Apple will extend its leading market share of the premium-tier smartphone market." This morning, the stock hit an annual peak of $131.14, and was last seen at $130.87 -- up 38% year-over-year. Understandably, analysts are overwhelmingly optimistic toward Apple Inc. (NASDAQ:AAPL), handing out 26 "buy" or better assessments, compared to five "holds" and a pair of "strong sells." This upbeat sentiment was reflected in the activity among yesterday's AAPL options traders.
Twenty-First Century Fox Reports Earnings Beat
FOXA reported better-than-expected earnings yesterday, but revenue fell short of estimates. Most analysts are weighing in bullishly, with at least seven raising their price targets, versus a trio cutting theirs. Technically speaking, the stock has been pretty strong -- down 1.2% today at $30.68, but still just a hair off of last week's annual high at $31.75. Twenty-First Century Fox Inc (NASDAQ:FOXA) options traders, meanwhile, have been placing bullish bets at a rapid-fire rate. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio is a top-heavy 20.29 -- in the call-skewed 98th annual percentile.
U.S. Steel Receives Fresh Upgrade
Argus Research upgraded X to a "buy" rating from a "hold," boosting the shares 2.2% this morning. The bullish note is well-deserved, considering the stock has been red-hot in the past 12-months, up 350% at $34.96. Short-term open interest on United States Steel Corporation (NYSE:X) is tilted in an upbeat direction, too, with calls outweighing puts. Specifically, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.62 sits in the low 3rd percentile of its annual range.
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