Blue Apron Stock Bounces as IPO Underwriters Initiate Coverage

Analysts issued less-than-bullish price-target hikes for BA and TWTR

Jul 24, 2017 at 1:31 PM
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Analysts are weighing in on meal-kit service company Blue Apron Holdings Inc (NYSE:APRN), Dow component Boeing Co (NYSE:BA), and social media stock Twitter Inc (NYSE:TWTR). Here's a quick roundup of today's bullish brokerage notes on shares of APRN, BA, and TWTR.

APRN Heats Up as Brokerages Start Coverage

Blue Apron stock is up a whopping 14.3% to trade at $7.49, after no fewer than seven brokerages started coverage on the stock. SunTrust Robinson and Canaccord Genuity initiated coverage with "buy" ratings, while RBC and Oppenheimer gave APRN an "outperform" rating. These bullish endorsements outnumbered a trio of lukewarm recommendations from Raymond James, Morgan Stanley, and Barclays, all of which initiated Blue Apron shares with the equivalent of a "hold" this morning.

APRN is back up after last week's news of Amazon's rival meal-kit service caused the stock to gap drastically lower. Even with today's big surge, the stock is down 25% since its June 29 initial public offering (IPO) price of $10.

Boeing Leads the Dow Ahead of Quarterly Results

Boeing stock is up 0.1% to trade at $212.30, after a price-target hike to $200 from $170 at Canaccord Genuity. The brokerage firm maintains a "hold" rating on the aerospace stock, which last Friday hit a record high of $212.20. Up 36% year-to-date, BA has racked up the biggest gain among the 30 Dow components in 2017.

Boeing Co is expected to release earnings before the market opens on Wednesday, July 26. Short-term speculators are leaning toward puts over calls ahead of the event, as evidenced by Schaeffer's put/call open interest ratio (SOIR) of 1.76. This ratio registers in the skeptically skewed 74th percentile of its annual range. 

Twitter Attracts Price-Target Hikes After Record Win Streak

Twitter stock is down 0.4% to trade at $20.03, after Wedbush raised its price target to $16 from $14 and Macquarie boosted its target to $21 from $16. Both firms maintain a "neutral" rating on TWTR.

Just last Friday, Twitter broke its longest winning streak on record -- and despite a positive start out of the gate, now appears on track for a second straight daily loss. Echoing the unenthusiastic nature of today's Wedbush hike -- which reflects expectations for TWTR to shed more than 20% from last Friday's close at $20.11 -- all but one of the 23 analysts following TWTR rate it a "hold" or worse. 


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