Devon Energy, Procter & Gamble, Solaredge Upgraded

Devon Energy Corp (DVN), Procter & Gamble Co (PG), and ​Solaredge Technologies Inc (SEDG) are winning support from Wall Street analysts

by Alex Eppstein

Published on Feb 15, 2017 at 9:10 AM

Analysts are weighing in on oil-and-gas stock Devon Energy Corp (NYSE:DVN), blue chip Procter & Gamble Co (NYSE:PG), and solar equipment maker Solaredge Technologies Inc (NASDAQ:SEDG). Here's a roundup of today's bullish brokerage notes on DVN, PG, and SEDG shares.

Earnings, Price-Target Hikes Boost Devon Energy

DVN swung to a fourth-quarter profit and beat the Street's consensus earnings estimate. Deutsche Bank, Goldman Sachs, and Susquehanna responded with price-target hikes, helping boost the stock 1.4% pre-market. Last night, Devon Energy Corp settled at $45.94, having more than doubled in the past 12 months. Understandably, options traders have been targeting calls over puts in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), DVN has amassed a 50-day call/put volume ratio of 2.24 -- outstripping four-fifths of all readings from the past year.

Peltz Takes P&G Stake, Soros Dumps Shares

PG has tacked on 2% ahead of the open, after SEC filings last night revealed Nelson Peltz's Trian Fund Management has taken a $3.5 billion stake in the consumer packaged goods company. On the other hand, Soros Fund Management dissolved its interest in Procter & Gamble Co. Responding to these developments, Jefferies lifted its price target to $101 from $99, representing uncharted territory for the shares. Generally speaking, though, analysts are split on PG -- with eight doling out "buy" or better endorsements, compared to eight "hold" or worse ratings. Yesterday, the Dow stock ended at $87.86, and has advanced 4.5% year-to-date.

Solaredge Earnings Win Cheers From Goldman Sachs

SEDG's earnings report is being well-received on Wall Street -- despite its per-share profit falling a penny short of the consensus view -- with the shares up 4% pre-market. Adding fuel to the fire, Goldman Sachs raised its price target to $10 from $9. This is still a huge discount to Tuesday's settlement price at $14.45, however. Digging deeper on the charts, despite Solaredge Technologies Inc showing some recent strength, the shares have surrendered 45.6% year-over-year. Short sellers have piled on amid the prolonged pullback, with over half of the stock's total float dedicated to short interest.

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