Schaeffer's Trading Floor Blog

Analyst Upgrades: Netflix, Inc., DISH Network Corp, and Smith & Wesson Holding Corp

Analysts upwardly revised their ratings on NFLX, DISH, and SWHC

by 5/20/2014 9:21 AM
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Analysts are weighing in today on streaming content issue Netflix, Inc. (NASDAQ:NFLX), pay-TV provider DISH Network Corp (NASDAQ:DISH), and firearms concern Smith & Wesson Holding Corp (NASDAQ:SWHC). Here's a quick roundup of today's bullish brokerage notes.

  • Topeka initiated coverage on NFLX with a "buy" rating this morning, after the stock bounced more than 4% in yesterday's session to close at $364.50. Elsewhere, the 29 analysts already covering Netflix, Inc. remain divided, as the equity maintains 13 "buy" or better endorsements, 12 "holds," and four "sell" or worse suggestions. Meanwhile, the average 12-month price target comes in at $410.22, representing a modest 12.5% premium to the shares' current perch.

  • Wunderlich lifted its price target on DISH to $56 from $51 earlier today; however, the updated price target still stands at a 5.7% discount to the shares' current perch at $59.36. Stepping back, DISH Network Corp has faced some technical turbulence recently, and right now, the stock is sitting 8% below its decade-plus high of $64.52, tagged on April 3. As such, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.72 ranks in the top 25% of its annual range, demonstrating short-term option players are currently more put-focused than usual toward DISH.

  • SWHC -- which has advanced 22.2% over the past three months to trade at $15.08 -- received an upgrade to "outperform" from "neutral," and a price-target hike to $20 from $13, at Wedbush this morning. Among traders, Smith & Wesson Holding Corp has a significant amount of short interest stacked up against it, as these bearish bets currently account for roughly one-third of the equity's available float. This represents more than three weeks' worth of pent-up buying demand, at the shares' average daily volume.

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