Apple, Garmin, Netflix Upgraded

Apple, Garmin, Netflix shares are on analysts' bullish radar today

Mar 6, 2017 at 9:19 AM
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Analysts are weighing in on iPhone maker Apple Inc. (NASDAQ:AAPL), navigation expert Garmin Ltd. (NASDAQ:GRMN), and FANG stock Netflix, Inc. (NASDAQ:NFLX). Here's a roundup of today's bullish brokerage notes on AAPL, GRMN, and NFLX shares.

Analysts Target $160 Level for Apple Stock

AAPL is edging lower ahead of the open, despite a price-target hike to $160 from $140 at Citigroup, while BMO Capital reiterated its price target at the same level. The latter firm expressed optimism in the installed base for Apple Inc.'s iPhone, as well as the company's goal to double service revenue. The stock hit an all-time high of $140.28 last Thursday, closing Friday at $139.78, and options traders remain bullish. AAPL's 10-day call/put volume ratio of 1.96 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is ranked in the 85th annual percentile, meaning calls have been bought to open over puts at a faster-than-usual clip. 

Goldman Sachs Upgrades Garmin Shares

Goldman Sachs this morning upgraded GRMN to "neutral" from "sell," joining the overwhelming majority of analysts on Wall Street. This skepticism is seen among options traders, too, based on the stock's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.81, higher than 75% of all similar readings taken in the past year. This pessimism comes even as GRMN has been grinding higher since early 2016, last seen at $51.52, with its 200-day moving average offering strong support during the most recent pullback. If Garmin Ltd. continues to climb the charts, a fresh round of bullish analyst attention and/or a capitulation from bearish traders could provide an extra lift. 

UBS Says Netflix Concerns "Misplaced"

NFLX is on pace to open 1.4% higher, thanks to an upgrade to "buy" from "neutral" at UBS, which also boosted its price target to $175 from $136. The firm added, "We do see the potential for Netflix to exceed Street subscriber growth expectations and believe that concerns regarding competition and content costs are misplaced." Netflix, Inc. hit a record peak of $145.95 on Feb. 13, closing Friday at $139.14 -- up 42% year-over-year. While NFLX has been climbing on the charts, short interest has been steadily declining, falling by roughly 56% since last March. Elsewhere, the company continues to expand its presence in India

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