PTLA, MU, BBRY Stocks Upgraded Today

Analysts continue to weigh in on BlackBerry stock after earnings

Jun 26, 2017 at 9:26 AM
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Analysts are weighing in on drugmaker Portola Pharmaceuticals Inc (NASDAQ:PTLA), semiconductor stock Micron Technology, Inc. (NASDAQ:MU), and smartphone maker BlackBerry Ltd (NASDAQ:BBRY). Here's a quick roundup of today's bullish brokerage notes on shares of PTLA, MU, and BBRY.

Analysts Applaud Portola After FDA Approval

Portola Pharmaceuticals on Friday surged to an annual high of $57.90, after the Food and Drug Administration approved the company's blood thinner to prevent clots. This morning, PTLA is set to rally another 3.5%, as several analysts weigh in on the stock. Specifically, Credit Suisse, Cowen, and Morgan Stanley all lifted their price targets on Portola shares, to $58, $70, and $70, respectively -- all in uncharted territory. A short squeeze could help PTLA stock get closer to those targets; short interest represents nearly two weeks' worth of pent-up buying demand, at the equity's average pace of trading.

MU Stock Scores Pre-Earnings Price-Target Hike

Micron Technology will step up to the earnings plate on Thursday, June 29. Ahead of the event, Cowen and Company lifted its price target on MU shares to $38 from $34. Micron stock has been on fire since mid-2016, more than doubling over the past year to touch an annual high of $32.93 on June 9, while closing Friday at $31.73. Micron Technology's recent earnings history is also encouraging, with the stock moving notably higher in the session after its last two earnings reports. Most analysts are already in MU stock's corner, though, with 15 out of 16 offering up "buy" or better opinions. At last check, MU is headed 2.2% higher in pre-market action.

BlackBerry Stock Scores Pair of Price-Target Boosts

BlackBerry last week reported weaker-than-expected quarterly sales, sending the shares of BBRY to their lowest close in over a month. The stock settled Friday at $9.71, and below their 50-day moving average for the first time since late March. Nevertheless, Deutsche Bank today lifted its price target to $7.50 from $7 -- though the new target is still a discount to BBRY's current price -- and TD Securities lifted its target to $11.50 from $10. Still, BlackBerry stock is pointed 0.6% lower ahead of the bell, likely to the delight of most analysts. BBRY boasts just two "buy" or better endorsements, compared to 10 "hold" or worse ratings, even though the stock remains more than 40% higher year-to-date.

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