Notable Upgrades: JetBlue Airways (JBLU), Avago Technologies (AVGO), Seagate (STX), King Digital (KING), MGIC Investment (MTG)

Analysts at Raymond James are out with a report this morning upgrading shares of JetBlue Airways Corporation (JBLU) with a ‘Outperform‘ from ‘Market Perform‘ rating.

JetBlue Airways Corp. shares are currently priced at 15.82x this year’s forecasted earnings, which makes them quite inexpensive compared to the industry’s 53.89x earnings multiple. Ticker has a forward P/E of 10.57 and t-12 price-to-sales ratio of 0.97. EPS for the same period is $1.19.

In the past 52 weeks, shares of Long Island City New York-based air carrier have traded between a low of $7.61 and a high of $18.83 and are now at $18.80. Shares are up 105.68% year-over-year and 14.25% year-to-date.

Analysts at DA Davidson upgraded their rating on the shares of Avago Technologies Limited (AVGO). In a research note published on Monday, the firm lifted the name with a ‘Buy‘ from ‘Neutral‘ rating and set a 12-month base case estimate of $150 from $125 per share.

On valuation measures, Avago Technologies Ltd. shares are currently priced at 73.17x this year’s forecasted earnings compared to the industry’s 7.43x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.50 and 14.35, respectively. Price/Sales for the same period is 6.17 while EPS is $1.76. Currently there are 15 analysts that rate AVGO a ‘Buy’, 4 rate it a ‘Hold’. No analyst rates it a ‘Sell’. AVGO has a median Wall Street price target of $139.00 with a high target of $150.00.

Seagate Technology Public Limited Company (STX) was raised to ‘Strong Buy‘ from ‘Buy‘ and it was given a $65 price target at Needham on Monday.

STX is up $0.74 at $54.50 on heavy volume. Midway through trading Monday, nearly 2 million shares of Seagate Technology PLC have exchanged hands as compared to its average daily volume of 3.57 million shares. The stock ranged in a price between $53.97-$54.96 after having opened the day at $54.80 as compared to the previous trading day’s close of $53.76.

In the past 52 weeks, shares of Dublin, Ireland-based company have traded between a low of $48.49 and a high of $69.40. Shares are up 10.75% year-over-year ; down 18.43% year-to-date.

King Digital Entertainment plc (KING) was upgraded to ‘Overweight‘ from ‘Neutral‘ by JP Morgan (JPM) analysts on Monday.

KING is currently printing a higher than average trading volume with the issue trading 1.17 million shares, compared to the average volume of 2.67 million. The stock began trading this morning at $15.80 to currently trade 2.68% higher from the prior days close of $14.90. On an intraday basis it has gotten as low as $15.17 and as high as $15.88.

King Digital Entertainment PLC shares are priced at 8.55x this year’s forecasted earnings, compared to the industry’s 34.57x earnings multiple. The company’s current year and next year EPS growth estimates stand at (13.9%) and 1.00% compared to the industry growth rates of 19.50% and 21.10%, respectively. KING has a t-12 price-to-sales ratio of 2.07. EPS for the same period registers at $1.79.

KING shares have advanced 12.03% in the last 4 weeks and declined 5.76% in the past three months. Over the past 5 trading sessions the stock has gained 3.04%.

The Dublin, Ireland-based company, which is currently valued at $4.83 billion, has a median Wall Street price target of $20.00 with a high target of $27.00.

MGIC Investment Corp. (MTG) was reiterated an ‘Overweight’ by Barclays analysts on Monday. The broker also raised its price target on the stock to $14 from $11, implying 27% expected return.

On valuation measures, MGIC Investment Corp. shares are currently priced at 15.17x this year’s forecasted earnings compared to the industry’s 15.75x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.14 and 10.09, respectively. Price/Sales for the same period is 3.31 while EPS is $0.64. Currently there are 8 analysts that rate MTG a ‘Buy’, 3 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’. MTG has a median Wall Street price target of $11.00 with a high target of $14.00.

In the past 52 weeks, shares of Milwaukee, Wisconsin-based private mortgage insurer have traded between a low of $7.16 and a high of $9.78 and are now at $9.70. Shares are up 9.50% year-over-year and 1.39% year-to-date.

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