Notable Upgrades: Apple (AAPL), Himax Technologies (HIMX), Anadarko Petroleum (APC), Netflix (NFLX), Fortinet (FTNT)

Apple Inc. (AAPL) was reiterated a ‘Buy’ with $170 price target by Brean Capital analysts on Tuesday. The broker believes that AAPL earnings could beat consensus by $0.20, and that Street numbers are materially low through 2017.

Apple shares recently lost $1.20 to $124.80. In the past 52 weeks, shares of Cupertino, California-based tech giant have traded between a low of $92.57 and a high of $134.54. Shares are up 36.35% year-over-year and 15.08% year-to-date.

Analysts at Chardan Capital Markets are out with a report this morning upgrading shares of Himax Technologies, Inc. (HIMX) with a ‘Buy‘ from ‘Sell‘ rating. The firm raised its price target for the company to $13 from $4.

Himax Technologies Inc. ADS shares are currently priced at 23.41x this year’s forecasted earnings compared to the industry’s 13.45x earnings multiple. Ticker has a forward P/E of 20.19 and t-12 price-to-sales ratio of 1.61. EPS for the same period is $0.36.

In the past 52 weeks, shares of Tainan, Taiwan-based company have traded between a low of $5.70 and a high of $10.45 and are now at $8.45. Shares are up 24.39% year-over-year ; down 0.11% year-to-date.

Anadarko Petroleum Corporation (APC) was raised to ‘Buy‘ from ‘Hold‘ at Jefferies on Tuesday.

APC is up $1.52 at $77.90 on strong volume. Midway through trading Tuesday, 2.36 million shares of Anadarko Petroleum Corp. have exchanged hands as compared to its average daily volume of 3.24 million shares. The stock has ranged in a price between $75.30 to $78.09 after having opened the day at $76.65 as compared to the previous trading day’s close of $76.38.

In the past 52 weeks, shares of The Woodlands, Texas-based oil company have traded between a low of $71.00 and a high of $113.51. Shares are down 28.12% year-over-year and 6.81% year-to-date.

Netflix, Inc. (NFLX) was reiterated as ‘Outperform’ with a $730 from $585 price target on Tuesday by Raymond James.

NFLX shares recently lost $7.28 to $654.72. The stock is up more than 40% year-over-year and has gained roughly 94% year-to-date. In the past 52 weeks, shares of Los Gatos, California-based company have traded between a low of $315.54 and a high of $706.24.

Netflix, Inc. closed Monday at $662.00. The name has a current market cap of $39.69 billion.

Shares of Fortinet Inc. (FTNT) are down $0.20 to $39.77 in midday trading. Oppenheimer this morning reiterated its ‘Outperform’ rating and increased its 12-month base case estimate on the name by 4 points to $50 a share.

FTNT is currently printing a higher than average trading volume with the issue trading 1.12 million shares, compared to the average volume of 1.49 million. The stock began trading this morning at $40.64 to currently trade 0.45% lower from the prior days close of $39.97. On an intraday basis it has gotten as low as $39.13 and as high as $40.64.

Fortinet Inc. shares are priced at 361.73x this year’s forecasted earnings, compared to the industry’s 23.24x earnings multiple. The company’s current year and next year EPS growth estimates stand at 6.30% and 31.40% compared to the industry growth rates of 16.30% and 23.20%, respectively. FTNT has a t-12 price-to-sales ratio of 8.32. EPS for the same period registers at $0.11.

FTNT shares have advanced 1.19% in the last 4 weeks and 16.19% in the past three months. Over the past 5 trading sessions the stock has lost 4.19%.

The Sunnyvale, California-based company, which is currently valued at $6.75 billion, has a median Wall Street price target of $44.00 with a high target of $50.00. Fortinet Inc. is up 58.11% year-over-year, compared with a 5.35% gain in the S&P 500.

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