JPMorgan Chase, Fitbit, T-Mobile Upgraded

JPMorgan Chase, Fitbit, and T-Mobile stocks are on analysts' bullish radar today

Apr 25, 2017 at 9:19 AM
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Analysts are weighing in on Dow stock JPMorgan Chase & Co. (NYSE:JPM), wearables expert Fitbit Inc (NYSE:FIT), and telecom T-Mobile US Inc (NASDAQ:TMUS). Here's a quick roundup of today's bullish brokerage notes on shares of JPM, FIT, and TMUS.

JPMorgan Upgraded After Monday's Breakout

Guggenheim upgraded JPM stock to "buy" from "neutral." The move comes right after the shares gapped 3.5% higher on Monday to $87.50, thanks to the broader relief rally. Longer term, shares of JPMorgan Chase & Co. have advanced almost 37% in the past 12 months, and are pointed another 0.8% higher pre-market. Not surprisingly, JPM options traders have been placing upside bets at an accelerated rate. During the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 1.68 calls for every put -- outstripping 80% of all comparable readings from the past year.

Fitbit Receives a Rare Bullish Brokerage Note

Benchmark started coverage on FIT stock with a "buy" rating and a $10 price target, explaining, "With a new product cycle on the horizon, an early developing wearable ecosystem and the optionality of digital health, we believe the shares are attractively valued." Ahead of the opening bell, Fitbit Inc shares are perched 2.1% higher, but are trying to dig themselves out of a 22.7% year-to-date hole, at $5.66. No wonder 15 of 18 analysts rate underperforming FIT stock a "hold" or worse.

T-Mobile Earnings Beat Prompts Price-Target Hikes

TMUS reported better-than-expected earnings and subscriber growth, winning it applause on Wall Street. Specifically, no fewer than four analysts upped their price targets on the stock, with Jefferies setting the highest bar at $80 -- a record high. Yesterday, T-Mobile US Inc settled at $65.93 after hitting at an all-time intraday best of $65.97. And just as bullish brokerage notes could bolster TMUS stock, so also could a short-squeeze situation. After all, 20.3 million shares are sold short, which would take six sessions to cover, at average daily trading volumes.

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