Analyst Upgrades: Amazon.com, Inc., Cisco Systems, Inc., and Imperva Inc

Analysts upwardly revised their ratings and price targets on Amazon.com, Inc. (NASDAQ:AMZN), Cisco Systems, Inc. (NASDAQ:CSCO), and Imperva Inc (NYSE:IMPV)

Karee Venema

Sep 23, 2016 at 9:13 AM

Analysts are weighing in on e-commerce name Amazon.com, Inc. (NASDAQ:AMZN), Dow stock Cisco Systems, Inc. (NASDAQ:CSCO), and cybersecurity firm Imperva Inc (NYSE:IMPV). Here's a quick roundup of today's bullish brokerage notes on AMZN, CSCO, and IMPV.

After rallying to a record high of $805.89 yesterday in the wake of an upbeat analyst note, AMZN saw its price target raised to $950 from $855 at Mizuho. While the shares are 0.2% lower in pre-market trading, AMZN stock remains up 19% year-to-date, based on last night's close at $804.70. Not surprisingly, most analysts are already in AMZN's bullish corner, with 26 of 29 maintaining a "buy" or better rating on the stock. Separately, Amazon.com, Inc.'s Echo could be getting some competition, with Bloomberg reporting Apple Inc. (NASDAQ:AAPL) is moving forward with its version of the smart-home device.

Raymond James raised its price target on CSCO to $34 from $32 -- representing expected upside of 7.4% to last night's close at $31.66, and a move into territory not seen since November 2007. On the sentiment front, short sellers have been throwing in the towel on CSCO, given the stock's impressive 16.6% year-to-date lead. Short interest plunged 17.5% in the most recent reporting period, and now accounts for less than 1% of Cisco Systems, Inc.'s available float. Elsewhere, the tech firm has been in the M&A spotlight of late, with rumors swirling it could be preparing to scoop up a cybersecurity company.

IMPV is one of the names being tossed around as a potential takeover target for Cisco, according to Bloomberg. This buyout buzz has been building for awhile, with International Business Machines Corp. (NYSE:IBM) and ForcePoint also in the mix of possible suitors. Regardless, the shares of IMPV are up 16.5% in electronic trading, after JMP Securities raised its price target on the stock to $56 from $50. Today's projected price pop could have Imperva Inc -- which closed last night at $43.39 -- breaking out above recent resistance near $48. This could certainly have short sellers spooked, too. Although short interest plunged 23.6% in the two most recent reporting periods, these bearish bets still account for a healthy 9.5% of IMPV's float, or six times its average daily trading volume.

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

Follow @Schaeffers

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade. Professional traders have rushed into the market and are making a mint. Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.