Schaeffer's Trading Floor Blog

Analyst Upgrades: Verizon Communications, Wynn Resorts, and Oracle

Analysts upwardly revised their ratings on VZ, WYNN, and ORCL

by 2/1/2013 9:02 AM
Stocks quoted in this article:

Analysts are weighing in today on wireless communications provider Verizon Communications Inc. (NYSE:VZ - 43.61), casino operator Wynn Resorts, Limited (NASDAQ:WYNN - 125.22), and software issue Oracle Corporation (NASDAQ:ORCL - 35.51). Here's a quick roundup of today's bullish brokerage notes.

  • Up more than 16% on a year-over-year basis, VZ was raised to "overweight" from "neutral" at Piper Jaffray ahead of the opening bell. However, despite today's vote of confidence, most of the covering analysts maintain a wary attitude toward the stock. VZ currently sports 12 "strong buy" endorsements, compared to 17 "holds," and one "strong sell" suggestion. What's more, Thomson Reuters shows an average 12-month price target of $47.11 for the equity, representing expected upside of just 8% to Thursday's closing price of $43.61.

  • WYNN received some bullish attention this morning, after reporting fourth-quarter revenue that topped analysts' expectations yesterday. Janney Capital upgraded the stock to "buy" from "neutral," while also boosting its price target to $175 from $120. (Meanwhile, Barclays also issued an upward price-target adjustment.) The equity has climbed more than 11% so far this year, yet near-term puts easily outstrip calls, as evidenced by WYNN's Schaeffer's put/call open interest ratio (SOIR) of 1.71. This ratio ranks higher than 84% of similar annual readings, meaning short-term traders are more put-heavy toward the stock than usual.

  • ORCL -- which has advanced more than 23% over the last 12 months -- was lifted to "outperform" from "market perform" at BMO today. Meanwhile, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio sits at 1.21, confirming puts bought to open have outnumbered calls during the past two weeks. This ratio arrives in the 74th percentile of its annual range, indicating speculators have been scooping up puts over calls at an accelerated pace.

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