Analysts Target Record Highs for 2 Dow Stocks

GoPro received a rare upgrade ahead of Thursday's earnings report

Jul 31, 2017 at 9:25 AM
facebook X logo linkedin


Analysts are weighing in on Dow stocks Boeing Co (NYSE:BA) and Microsoft Corporation (NASDAQ:MSFT), as well as wearable camera maker GoPro Inc (NASDAQ:GPRO). Here's a quick roundup of today's bullish brokerage notes on shares of BA, MSFT, and GPRO.

Boeing Price Target Raised at J.P. Morgan Securities

J.P. Morgan Securities boosted its price target on Boeing to $280 from $240, after the stock gapped to new record highs after earnings last week. This, along with a forecast for a roughly $290 billion aircraft order from Indian airlines, has BA shares trading up 0.6% ahead of the bell -- on track to hit a fresh all-time peak out of the gate.

BA stock closed last week at $241.27, up 55% year-to-date, and the best Dow stock so far in 2017. And although short interest is down 11.1% in the two most recent reporting periods, it would still take four days to cover the remaining bearish bets, at Boeing's average pace of trading. A continued round of short covering could have BA flying even higher.

Cowen Targets Record Highs for MSFT Stock

Cowen and Company raised its price target on Microsoft stock to $85 from $80, well above the record high of $74.42 the shares hit last Thursday. In response, MSFT shares are up 0.1% in electronic trading, after closing last Friday at $73.04. Longer term, the tech stock has added 17.5% in 2017, and most analysts are optimistic. Of the 24 brokerages covering Microsoft shares, 18 maintain a "buy" or better rating.

GoPro Stock Upgraded Ahead of Earnings

Ahead of Thursday evening's earnings report, GoPro saw its rating raised to "equal weight" from "underweight" at Morgan Stanley. After closing last Friday at $8.10, the shares are up 2.6% in pre-market trading, but could run out of steam near their 120-day moving average. This trendline quickly rejected GPRO's rally attempts in late April and May, and has helped usher the shares to a 38% loss since early November. 

And considering the stock has averaged a single-session post-earnings loss of 9% in the past three quarters, short-term options traders are more put-heavy than usual, per GoPro's Schaeffer's put/call open interest ratio (SOIR) of 1.44 -- in the 89th annual percentile. Peak front-month open interest of 6,172 contracts is found at the August 9 put, and data from the major options exchanges confirms significant buy-to-open activity.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI