Notable Upgrades: Alibaba Group (BABA), 8×8 Inc. (EGHT), EOG Resources, Inc. (EOG), Akorn, Inc. (AKRX), Avanir Pharmaceuticals (AVNR)

In a report published Tuesday, UBS analysts initiated coverage on Alibaba Group Holding (BABA) with a ‘Buy’ rating and $100 price target. The firm’s 12 month-base case estimate would suggest a potential upside of 17% from the stock’s current pps.

On valuation measures, Alibaba Group shares are currently priced at 39.24x this year’s forecasted earnings compared to the industry’s 7.18x earnings multiple. Ticker has a forward and price/sales ratio of 36.69 and 22.57, respectively. EPS is $2.17. Currently there are 6 analysts that rate BABA a ‘Buy’, while 2 rate it a ‘Hold’. No analyst rates it a ‘Sell’. BABA has a median Wall Street price target of $100.00 with a high target of $125.00.

Since its IPO, shares of Hangzhou, China-based company have traded between a low of $84.92 and a high of $99.70 and are now at $85.44.

8×8 Inc. (EGHT) was upgraded by B. Riley from a ‘Neutral’ rating to a ‘Buy’ rating in a research note issued on Tuesday.

In the past 52 weeks, shares of San Jose, California-based company, which provides UCC services in the cloud for small and medium businesses, have traded between a low of $5.69 and a high of $12.42. Shares are down 44.96% year-over-year and 42.46% year-to-date.

EOG Resources, Inc.. (EOG) had its rating upgraded to ‘Outperform’ from ‘Market Perform’ by analysts at Bernstein on Tuesday.

On valuation measures, EOG Resources shares are currently priced at 19.08x this year’s forecasted earnings compared to the industry’s 16.23x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.25 and 13.69, respectively. Price/Sales for the same period is 3.04 while EPS is $4.39. Currently there are 22 analysts that rate EOG a ‘Buy’, while 8 rate it a ‘Hold’. No analyst rates it a ‘Sell’. EOG has a median Wall Street price target of $120.00 with a high target of $140.00.

In the past 52 weeks, shares of Houston, Texas-based company have traded between a low of $78.01 and a high of $118.89 and are now at $84.98. Shares are down 5.98% year-over-year ; up 0.16% year-to-date.

WallachBeth is out with a report this morning initiating coverage of Akorn, Inc. (AKRX) with a ‘Buy’ rating and $43 price target, implying 27.55% expected return. The firm believes Akorn has a maturing generic pipeline, bolstered by its 2014 acquisitions, with 93 products on file with the FDA and a portfolio of acquired branded drugs. Shares of the manufacturer of niche hospital drugs closed at $33.71 in Monday’s trading session.

AKRX shares are currently priced at 83.44x this year’s forecasted earnings, which makes them expensive compared to the industry’s 8.83x earnings multiple. Ticker has a forward P/E of 21.34 and t-12 price-to-sales ratio of 8.87. EPS for the same period is $0.40.

In the past 52 weeks, shares of Lake Forest, Illinois-based firm have traded between a low of $19.55 and a high of $39.48. Shares are up 69.82% year-over-year and 36.92% year-to-date.

Avanir Pharmaceuticals, Inc. (AVNR) – Piper Jaffray says the Phase II data Aliso Viejo, California-based company presented for AVP-923 in Alzheimer’s agitation at the American Neurological Association Monday looks better than expected. Piper reiterates an ‘Overweight’ rating on the stock with a $21 price target. The firm’s price objective suggests a potential upside of 78.26% from the stock’s previous close.

In the past 52 weeks, AVNR has traded between a low of $2.62 and a high of $13.09 and are now at $11.78. Shares are up 159.47% year-over-year and 250.60% year-to-date.

Be the first to comment

Leave a Reply

Your email address will not be published.


*