Broadcom, Yum! Brands, Cara Therapeutics Upgraded

Broadcom, Yum! Brands, and Cara Therapeutics shares are on analysts' bullish radar today

Mar 10, 2017 at 9:20 AM
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Analysts are weighing in on semiconductor stock Broadcom Ltd (NASDAQ:AVGO), Taco Bell parent Yum! Brands, Inc. (NYSE:YUM), and biotech Cara Therapeutics Inc (NASDAQ:CARA). Here's a roundup of today's bullish brokerage notes on AVGO, YUM, and CARA shares.

Broadcom Looks to Stay Hot After Price-Target Hike

AVGO has been one of the hottest stocks on the Street, already up 25.6% year-to-date to trade at $222.01. Barclays is now betting on more upside, raising its price target to $250 from $240, which represents record-high territory. Options traders have been upping the bullish ante, too. Broadcom Ltd's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 1.84, ranking in the 69th annual percentile. 

Yum! Brands Stock Could Be Heading to $90

Evercore ISI raised its rating on YUM to "outperform," with the analysts saying they believe the shares could be trading at $90 by the end of 2018 due to earnings growth and ongoing share repurchases. The majority of analysts following Yum! Brands, Inc., are lukewarm, issusing nine "hold" ratings versus eight "buy" or better recommendations. While YUM has continued to slide on the charts following last month's bear gap, the shares' rising 200-day moving average -- a trendline that has offered support for nearly a year -- is quickly approaching. The stock closed Thursday at $63.81. 

Janney Undeterred By Cara Therapeutics' Quarterly Results

CARA is on pace to open 8.5% lower, after the company reported a bigger-than-expected fourth-quarter loss. However, brokerage firm Janney sees "numerous catalysts" in early 2017 that could boost the stock, and raised its price target to $20 from $18. Cara Therapeutics Inc has been soaring in recent months, roughly tripling in value since its November low to trade at $17.49. Near-term options traders are unusually put-skewed, however, based on CARA's Schaeffer's put/call open interest ratio (SOIR) of 1.31, which ranks just 2 percentage points from an annual high. 

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