Q2 STOCKS TO BUY

Analyst Update: Invesco Ltd., Weatherford International Plc, and BlackBerry Ltd

Analysts revised their ratings and price targets on Invesco Ltd. (IVZ), Weatherford International Plc (WFT), and BlackBerry Ltd (BBRY)

Jun 24, 2016 at 2:42 PM
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Analysts are weighing in on financial concern Invesco Ltd. (NYSE:IVZ), oil stock Weatherford International Plc (NYSE:WFT), and phone maker BlackBerry Ltd (NASDAQ:BBRY)Here's a quick roundup of today's brokerage notes on IVZ, WFT, and BBRY.

  • IVZ is down 12.8% at $25.83 -- the worst performer on the S&P 500 Index (SPX) today -- with a price-target hike to $35 from $34 at Deutsche Bank doing nothing to slow the financial stock's post-"Brexit" slide. This price action has IVZ down 33% year-over-year, and recent option bulls could be kicking rocks as a result. Over the past 10 weeks on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 11.08 Invesco Ltd. calls for each put. What's more, the resulting 50-day call/put volume ratio ranks in the 97th percentile of its annual range.
  • Imperial Capital initiated coverage on WFT with an "in-line" rating and a $7 price target, but the shares are following the lead of crude oil and the broader market, down 5.4% at $5.95 -- bringing their year-to-date loss to 29%. Still, the stock may have found an ally in its 30-day moving average -- a trendline below which Weatherford International Plc hasn't closed in three weeks. Options trader have been particularly call-heavy toward WFT of late. In fact, call open interest nearly doubles put open interest among options expiring in three months or less, per the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.51 -- lower than 93% of comparable readings in the past year.
  • Following Thursday's mixed quarterly earnings results, BBRY received price-target cuts from CIBC, MKM Partners, and RBC -- all to a range between $7 and $7.50. The new targets still represent a premium over today's trading levels, with the stock last seen off 4.5% at $6.69. BlackBerry Ltd has now shed 28% in 2016, and has been running into trouble at its previously supportive 60-day moving average over the past week or so. Overall, the brokerage bunch has had little love for BBRY, with 15 out of 17 analysts giving the stock a "hold" or worse recommendation.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Oracle Corporation, AlarmCom Hldg Inc, and Emerge Energy Services LP and Analyst Downgrades: AT&T Inc., Sonic Corporation, and Southwest Airlines Co.

 
 

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