Apple, Advanced Micro Devices, FireEye Upgraded

Apple, Advanced Micro Devices, and FireEye stocks are on analysts' bullish radar today

Mar 20, 2017 at 9:26 AM
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Analysts are weighing in on iPhone 8 parent Apple Inc. (NASDAQ:AAPL), chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD), and cybersecurity stock FireEye Inc (NASDAQ:FEYE). Here's a quick roundup of today's bullish brokerage notes on AAPL, AMD, and FEYE shares.

Don't Sell Apple Stock Yet, Says Barron's

AAPL stock is trading 0.3% higher ahead of the bell, after closing last week at $139.99. Boosting Apple shares is another price-target hike to $155 -- this time from Cowen and Company -- as well as a bullish weekend write-up in Barron's. The financial publication said even though AAPL has rallied 32% year-over-year, "Don't sell yet. Wait at least until the end of summer ... when buzz for the coming 10-year anniversary iPhone is likely to hit a peak" and AAPL stock could climb an additional 10% (subscription required).

Today's upside will have Apple Inc. stock within striking distance of last Thursday's record high at $141.02, and options traders are likely cheering. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AAPL's 10-day call/put volume ratio of 2.08 ranks 10 percentage points from a 12-month peak. In other words, calls have been bought to open over puts at a near-annual-high clip. In other AAPL news, CEO Tim Cook threw his support behind trade with China.

AMD Stock Price Target Hiked Ahead of First Trading Day on SPX

Ahead of its first trading day on the S&P 500 Index (SPX), AMD stock saw its price target raised to $12 at Susquehanna and to $16 at Jefferies. Against this backdrop, AMD shares are up 1% in pre-market trading, after settling Friday at $13.49 -- 381% higher year-over-year. A continued rise could encourage more analysts to upwardly revise their outlooks. Currently, 10 of 20 brokerages maintain a lukewarm "hold" rating on Advanced Micro Devices, Inc., while the average 12-month price target of $12.18 stands at a discount to the stock's present trading level.

FireEye Shares Pop After BofA-Merrill Lynch Upgrade

FEYE shares are set to soar 6% at the open, after BofA-Merrill Lynch raised its rating to "buy" from "hold" and its price target to $18 from $13.50 -- representing expected upside of nearly 68% to Friday's close at $10.73. The brokerage firm cited three key drivers for growth, including new leadership in its sales department, and that Wall Street's low second-half expectations for FireEye Inc "is an opportunity for a positive surprise." FEYE stock could certainly use a boost, considering it's down nearly 10% in 2017, and hit a record low of $10.35 on March 9. Short sellers have been bracing for more downside, too. Short interest jumped 13% in the two most recent reporting periods, and now accounts for 16.8% of FEYE stock's available float.

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