Analyst Upgrades: Fiat Chrysler Automobiles NV, Amgen, Inc., and Microsoft Corporation

Analysts upwardly revised their ratings and price targets on auto stock Fiat Chrysler Automobiles NV (FCAU), biotech Amgen, Inc. (AMGN), and tech giant Microsoft Corporation (MSFT)

Jan 6, 2017 at 10:53 AM

Analysts are weighing in on auto stock Fiat Chrysler Automobiles NV (NYSE:FCAU), biotech Amgen, Inc. (NASDAQ:AMGN), and tech giant Microsoft Corporation (NASDAQ:MSFT). Here's a quick roundup of today's bullish brokerage notes on FCAU, AMGN, and MSFT.

FCAU is up 7% at $10.50 -- a new annual high -- after a round of bullish analyst attention. Goldman Sachs added FCAU to its "Conviction Buy" list, and hiked its price target to $17.50 from $10.60, while Evercore ISI upgraded the shares to "buy" from "sell," and raised its price target to €10 from €6. FCAU shares are now up 71% since their October lows, with several minor pullback attempts contained by FCAU's 10- and 20-day moving averages. Near-term option players are decidedly call-skewed, with Fiat Chrysler Automobiles NV's Schaeffer's put/call open interest ratio (SOIR) of 0.31 sitting just 4 percentage points from an annual low.
AMGN is up 3.2% at $157.82, after a U.S. judge issued a ruling banning sales of Praluent, a cholesterol drug sold by rivals Sanofi SA (ADR) (NYSE:SNY) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN), citing patent infringement. Following the ruling, Baird raised its price target on AMGN to $165 from $157. Today's move puts AMGN shares back above their late October bear gap, as well as their 200-day moving average. Option bears may be kicking rocks today, with Amgen, Inc.'s put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) showing 1.43 puts bought to open for every call during the last two weeks, a reading that sits higher than 89% of all others from the past 12 months.
MSFT is trading 0.3% higher at $62.50, after Nissan announced it would integrate Microsoft Corporation's Cortana technology into some of its vehicles. In addition, Barclays issued a price-target hike to $70 from $65 for the stock. MSFT has tacked on more than 30% since late June, touching a record high of $64.10 in December. In MSFT's option pits, near-term players have been unusually put-skewed, with MSFT's SOIR of 1.11 sitting higher than 98% of all other readings from the past year. An unwinding of these positions could push MSFT even higher.

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.