ORCL, NVS, ANF Stocks Upgraded Today

ORCL stock is set for record highs after earnings

Jun 22, 2017 at 9:24 AM
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Analysts are weighing in on software stock Oracle Corporation (NYSE:ORCL), drugmaker Novartis AG (ADR) (NYSE:NVS), and retailer Abercrombie & Fitch Co. (NYSE:ANF). Here's a quick roundup of today's bullish brokerage notes on shares of ORCL, NVS, and ANF.

Oracle Stock Set for All-Time Highs After Earnings

It looks like Oracle is set to be the next software stock to rally after earnings, following the company's strong fiscal fourth-quarter results. Specifically, ORCL shares are up more than 11% in pre-market trading, which would have them trading in record-high territory. They closed last night at $46.33, up 20.5% year-to-date, and analysts are expecting more gains. Wedbush was one of several brokerage firms to weigh in, upgrading Oracle stock to "outperform" from "neutral," and raising its price target to $56 from $44. This seems to be the sort of price action options traders were betting on, since almost four ORCL calls were bought to open for every put during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). 

Heart Drug Lifts Novartis Stock

Novartis stock is up 3% in electronic trading, thanks to positive trial results from canakinumab, its drug for heart attack victims. NVS has added 13.3% year-to-date to close yesterday at $82.56, and if these pre-market gains come to fruition, they'd put the shares at an annual high. Elsewhere, Leerink weighed in with a price-target hike to $88 from $77, and that brokerage firm may not be the last. That is, Novartis is fast approaching its average 12-month price target of $85.75. 

ANF Stock Tries to Hold Positive YTD Territory

Shares of Abercrombie & Fitch were upgraded to "hold" from "sell" at Wunderlich, which joins seven other brokerage firms that have issued the same neutral rating. The stock was last seen at $12.05, pennies above its year-to-date breakeven mark, though the 200-day moving average quickly thwarted its last two breakout attempts. At the ISE, CBOE, and PHLX, options buyers have grown increasingly skeptical amid the retail malaise of late. ANF stock has a 10-day put/call volume ratio of 3.50 across the exchanges, good enough to rank in the 92nd annual percentile. 


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