Notable Upgrades: Ambarella (AMBA), Bank of America (BAC), BlackRock (BLK), Avago (AVGO), Sun Life Financial (SLF)

In a report published Thursday, Ladenburg Thalmann analysts initiated coverage on Ambarella, Inc. (AMBA) with a ‘Buy’ rating and $96 price target.

On valuation measures, Ambarella Inc. shares currently have a PEG and forward P/E ratio of 1.16 and 19.75, respectively. Price/sales for the same period is 7.56 while EPS is $2.35. Currently, there are 5 analysts that rate AMBA a ‘Buy’, 6 rate it a ‘Hold’. No analyst rates it a ‘Sell’. AMBA has a median Wall Street price target of $105.00 with a high target of $123.00.

Analysts at Wells Fargo (WFC) are out with a report this morning upgrading shares of Bank of America Corporation (BAC) with a ‘Outperform’ from ‘Market Perform’ rating.

In the past 52 weeks, shares of Charlotte, North Carolina-based banking giant have traded between a low of $14.60 and a high of $18.48 and are now at $16.08.

Shares are down 0.27% year-over-year and 10.29% year-to-date.

Analysts at Credit Suisse (CS) upgraded their rating on the shares of BlackRock, Inc. (BLK). In a research note published on Thursday, the firm lifted the name with a ‘Outperform’ from ‘Neutral’ rating and set a 12-month base case estimate of $382 per share.

On valuation measures, BlackRock Inc. shares are currently priced at 15.28x this year’s forecasted earnings compared to the industry’s 11.29x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.40 and 13.61, respectively. Price/Sales for the same period is 4.38 while EPS is $19.82. Currently, there are 10 analysts that rate BLK a ‘Buy’, 9 rate it a ‘Hold’. No analyst rates it a ‘Sell’. BLK has a median Wall Street price target of $378.00 with a high target of $430.00.

Avago Technologies Limited (AVGO) was upgraded to ‘Market Outperform’ from ‘Market Perform’ by JMP Securities analysts on Thursday. The broker also set its price target on the stock at $165.

AVGO is currently printing a normal average trading volume with the issue trading 2.12 million shares, compared to the average volume of 3.74 million. The stock began trading this morning at $128.54 to currently trade 1.25% higher from the prior days close of $127.17. On an intraday basis it has gotten as low as $124.80 and as high as $129.05.

On valuation measures, Avago Technologies Ltd. shares are priced at 33.78x this year’s forecasted earnings, compared to the industry’s 11.35x earnings multiple. The company’s current year and next year EPS growth estimates stand at 80.60% and 7.90% compared to the industry growth rates of 12.50% and 25.60%, respectively. AVGO has a t-12 price-to-sales ratio of 5.13. EPS for the same period registers at $3.81.

AVGO shares have declined 0.09% in the last 4 weeks and 10.73% in the past three months. Over the past 5 trading sessions the stock has gained 6.53%. The Singapore-based company, which is currently valued at $35.21 billion, has a median Wall Street price target of $165.00 with a high target of $185.00.

Avago Technologies Ltd. is up 45.73% year-over-year, compared with a 2.77% loss in the S&P 500.

Sun Life Financial Inc. (SLF) had its rating hiked to ‘Outperform’ from ‘Neutral’ by Macquarie today.

SLF shares recently gained $1.31 to $32.30. The stock is down 14.96% year-over-year and has lost roughly 11.60% year-to-date. In the past 52 weeks, shares of Toronto, Canada-based company have traded between a low of $27.87 and a high of $38.71.

Sun Life Financial Inc. closed Wednesday at $30.99. The name has a current market cap of $19.72 billion.

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