NVDA, C, FB Stocks Upgraded Today

Citigroup stock could hit fresh multi-year highs today

Jun 9, 2017 at 9:29 AM
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Analysts are weighing in on semiconductor stock NVIDIA Corporation (NASDAQ:NVDA), banking giant Citigroup Inc (NYSE:C), and social media concern Facebook Inc (NASDAQ:FB). Here's a quick roundup of today's bullish brokerage notes on shares of NVDA, C, and FB.

More Highs in Store for NVDA Stock

Nvidia stock is again on the receiving end of bullish analyst attention, with Susquehanna raising its price target to $140 from $110 -- though this is still a discount to the shares' Thursday close at $159.94. NVDA stock had a huge session yesterday, rallying to a record high of $160, and it's now up 50% year-to-date. Options traders could be betting on more upside, too, since the June 160 call has seen one of the largest increases in open interest during the past five days. NVDA is up another 2.2% in pre-market trading -- on track to open at an all-time peak.

C Stock Stares Down Fresh Highs

Citigroup stock yesterday hit an eight-year high of $63.82 after the U.S. House passed a bill to overhaul Dodd-Frank, before closing at $63.21 -- up 6.4% year-to-date. C stock is set to open 1% higher today, after UBS upgraded it to "neutral" from "sell," and set a $64 price target. Most analysts are even more bullish on the bank stock, since 11 of 16 rate it a "strong buy," leaving little room for more upbeat brokerage notes.

Piper Jaffray Reaffirms Bullish Call on FB Stock

Piper Jaffray reiterated its "outperform" rating on Facebook stock, along with its $160 price target, saying the social media company's revenue could triple by 2022. This represents all-time-high territory for FB shares, which settled at $154.71 yesterday, after touching a record of $154.73. Facebook is now up 34.5% in 2017. Meanwhile, it looks like a good time to buy near-term FB options, since its Schaeffer's Volatility Index (SVI) of 17% ranks below 88% of readings from the past year. In other words, volatility expectations for short-term options are unusually muted at the moment.   

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