Analyst Upgrades: Priceline Group Inc, JinkoSolar Holding Co., Ltd., and ACADIA Pharmaceuticals Inc.
Analysts upwardly revised their ratings and price targets on Priceline Group Inc (NASDAQ:PCLN), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)
Analysts upwardly revised their ratings and price targets on Priceline Group Inc (PCLN), JinkoSolar Holding Co., Ltd. (JKS), and ACADIA Pharmaceuticals Inc. (ACAD)
Analysts are weighing in on travel stock
Priceline Group Inc (NASDAQ:PCLN), alternative energy concern
JinkoSolar Holding Co., Ltd. (NYSE:JKS), and biotech
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Here's a quick roundup of today's bullish brokerage notes for PCLN, JKS, and ACAD.
- A number of analysts have weighed in bullishly on PCLN after the company's impressive quarterly results, as the shares climb 4% ahead of the open -- into record-high territory. At least 10 price-target increases have come through since yesterday's close, including one to $1,850 from RBC. Priceline Group Inc closed Monday at $1,480.33, 16% higher year-to-date -- and could potentially see additional gains should Hillary Clinton win at the polls today. Short-term options traders have been more put-skewed than usual, though, as PCLN's Schaeffer's put/call open interest ratio (SOIR) of 1.11 ranks in the 72nd annual percentile.
- JKS is up 2% in pre-market trading, after Craig-Hallum initiated coverage with a "buy" assessment and a $36 price target -- representing 140% upside from yesterday's close of $14.99. In fact, JinkoSolar Holding Co., Ltd. hasn't traded above $36 since early 2014, as the shares have been in a steady downtrend in 2016. Not surprisingly, short sellers have taken notice. Almost 16% of the stock's float is sold short, representing seven sessions' of pent-up buying power, going by average daily volumes. Looking ahead, the company will release its quarterly earnings results ahead of the open next Wednesday, Nov. 16.
- ACAD is rallying 13% ahead of the open, thanks to better-than-expected quarterly results. BofA-Merrill Lynch followed this up with an upgrade to "buy" from "neutral," though Leerink reduced its price target to $29 from $34. ACADIA Pharmaceuticals Inc. has been dreadful on the charts since peaking above $42 back in June, closing Monday at $22.99. Nonetheless, option bulls have been upping the ante in recent weeks, with long calls outpacing long puts by a nearly 9-to-1 ratio during the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
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