In addition to Goldman’s upgrade of this auto manufacturer’s stock, these firms also raised their ratings: Barclays, to ‘Overweight’; Bank of America, to ‘Neutral’; and Kepler Cheuvreux, to ‘Buy’.
Fiat Chrysler Automobiles N.V. (FCAU)
From Schaeffer’s Investment Research
Fiat Chrysler Automobiles N.V. (FCAU) stock is up and trading at record highs, after Goldman Sachs raised its price target to $30.10 from $22.40—about twice FCAU stock’s current price—and said it maintains a “conviction buy” rating. The Goldman analysts were encouraged by the spin-off potential the company has been exploring. FCAU stock has already tacked on 120% year-over-year.
In the options pits, traders have demonstrated a stronger-than-usual appetite for calls. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), FCAU sports a 50-day call/put volume ratio of 5.46, which ranks in the highest percentile of its annual range.
Bernie Schaeffer, Schaeffer’s Investment Research, www.SchaeffersResearch.com, 800-327-8833, August 31, 2017