Schaeffer's Trading Floor Blog

Analyst Upgrades: Pfizer Inc., Expedia Inc, and Wynn Resorts, Limited

Analysts upwardly revised their ratings on PFE, EXPE, and WYNN

by 5/2/2014 9:32 AM
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Analysts are weighing in today on biopharmaceutical concern Pfizer Inc. (NYSE:PFE), online travel company Expedia Inc (NASDAQ:EXPE), and casino operator Wynn Resorts, Limited (NASDAQ:WYNN). Here's a quick roundup of today's bullish brokerage notes.

  • Credit Suisse lifted its price target on PFE to $36 from $34 overnight, as the drug maker prepared a fresh buyout offer AstraZeneca plc (ADR) (NYSE:AZN). (The offer has since been rejected.) Since the start of 2014, Pfizer Inc has put worth a lackluster performance, advancing just 1.7% to trade at $31.15. Meanwhile, in the options pits, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.57 ranks lower than 79% of comparable readings from the past year, indicating short-term speculators are more call-heavy than usual toward PFE right now. Elsewhere, the blue chip will take its turn in the earnings confessional bright and early Monday morning.

  • After posting stronger-than-expected first-quarter earnings last night, EXPE received a handful of price-target hikes, including moves to $80 from $72, and to $82 from $80, at J.P. Morgan Securities and Cantor, respectively. (Susquehanna, meanwhile, lowered its price target by $5.) As Expedia Inc is down 9.7% from its Feb. 21 record high of $81.78 to trade at $73.87, option traders have been more put-focused than usual toward the equity. This is evidenced by the fact that EXPE's SOIR of 1.05 ranks in the top one-fourth of its 12-month range.

  • WYNN received a handful of positive brokerage notes, following its upbeat trip to the earnings confessional last night. Among the bulls on Wall Street were Deutsche Bank and Barclays, which upped their price targets to $265 from $255, and to $240 from $229, respectively. While Wynn Resorts, Limited has shed about 15% over the past two months to trade at $206.63, the stock is poised to erase some of those losses in today's session, which could perhaps shake loose some of the skepticism from WYNN's options players. The equity's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.39 ranks just 5 percentage points from a 12-month peak, demonstrating puts have been bought to open over calls at a near-annual-high rate during the past 10 weeks.

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