Apple, Community Health Systems, Jounce Therapeutics Upgraded

Apple Inc. (AAPL), Community Health Systems (CYH), and Jounce Therapeutics Inc (JNCE) are winning support from Wall Street analysts

Alex Eppstein
Feb 21, 2017 at 9:31 AM
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Analysts are weighing in on Dow stock Apple Inc. (NASDAQ:AAPL), hospital operator Community Health Systems (NYSE:CYH), and drugmaker Jounce Therapeutics Inc (NASDAQ:JNCE). Here's a roundup of today's bullish brokerage notes on AAPL, CYH, and JNCE shares.

Apple's iPhone 10, China Prospects Impress Analysts

Deutsche Bank boosted its price target on AAPL to $125 from $115, while Morgan Stanley raised its price target to $154 from $150 -- all-time-high territory -- citing potentially "outsized growth" in China next year. Separately, Cowen reiterated its "outperform" rating, amid rising expectations Apple Inc. could embrace wireless charging for the iPhone 10/X. The shares have been impressive, tagging a record high of $136.27 last week before settling Friday at $135.72. Not surprisingly, options traders are in the stock's bullish corner. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AAPL has racked up a 10-day call/put volume ratio of 1.89 -- in the top quartile of its annual range.

Community Health Systems Soars on Earnings, Upgrade

CYH is poised to jump about 23% at the open, following an earnings beat. The news prompted Mizuho Securities to up its opinion to "neutral" from "underperform," and bump its price target to $7.50 from $3, citing the company's "reasonable" 2017 outlook. This bodes well for Community Health Systems shares, which have been fighting back since bottoming at $4.15 in early November, landing at $6.90 on Friday afternoon. Short sellers could be feeling the heat, though. Over one-quarter of the stock's float is sold short, which would take about seven sessions to cover, at CYH's typical trading volume.

Analysts Applaud Rookie Jounce Therapeutics

Cowen, Baird, and J.P. Morgan Securities initiated coverage on JNCE with the equivalent of a "buy" rating, with the latter two setting price targets at $30 and $28, respectively -- previously unexplored waters. The stock went public earlier this year, and since opening at $18 on Day 1, has gained over 10% -- ending last week at $19.90. Jounce Therapeutics Inc could roll higher on today's positive brokerage notes. Plus, with scant attention from Wall Street so far, additional bullish initiations could serve as a boon.

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