AERI shares are set to open at record highs on upbeat drug news
Analysts are weighing in on tech stock HP Inc (NYSE:HPQ), biotech Aerie Pharmaceuticals Inc (NASDAQ:AERI), and streaming name Netflix, Inc. (NASDAQ:NFLX). Here's a quick roundup of today's bullish brokerage notes on shares of HPQ, AERI, and NFLX.
HPQ Stock Set for New Highs After Earnings
HP reported adjusted earnings of 40 cents per share on revenue of $12.39 billion for the fiscal second quarter, better than analysts were expecting. Wall Street was quick to chime in, too, with HPQ stock receiving no fewer than five price-target hikes, including one to $22 from $20 at BofA-Merrill Lynch -- territory not charted since February 2011.
After closing last night at $19.01, HPQ stock is set to pop 4% out of the gate to a new six-year high. HPQ shares were already up 28% heading into today's trading, and today's projected price move could draw more bullish brokerage notes. Of the 16 analysts covering HP Inc, nine maintain a tepid "hold" rating.
AERI Stock Signals Record High After Strong Glaucoma Drug Data
AERI stock is up 39% in electronic trading -- set to open at an all-time peak -- after the company reported strong data for its glaucoma treatment. Adding fuel to the bullish flames is Canaccord Genuity's upwardly revised price target to $60 from $56. Today's expected price action would have Aerie Pharmaceuticals breaking out above recent from its 30-day moving average. Plus, AERI shares could get an additional boost, should some of the weaker bearish hands jump ship. Short interest accounts for 12.3% of AERI's available float, or 10.6 times the stock's average pace of trading.
Piper Jaffray Raises Price Target on NFLX Stock
Piper Jaffray increased its price target on Netflix stock to $190, well above its May 15 record high of $161.78, with the brokerage firm suggesting the Street may be low-balling the positive impact of global streaming. As such, NFLX shares are up 2% ahead of the bell, after settling last night at $157.75. This is just more of the same for the stock, which has surged 27.4% in 2017. NFLX options traders, however, have been buying to open puts relative to calls at a faster-than-usual clip recently. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Netflix's 10-day put/call volume ratio of 0.97 ranks in the 85th annual percentile.