Schaeffer's Trading Floor Blog

Analyst Upgrades: Royal Caribbean and Crown Castle International

Analysts upwardly revised their ratings on RCL and CCI

by 10/30/2012 10:05 AM
Stocks quoted in this article:

Even as Hurricane Sandy pummels the east coast -- causing U.S. markets to remain closed for a second day in a row -- a few analysts are weighing in today on stocks such as cruise company Royal Caribbean Cruises Ltd. (NYSE:RCL - 33.59) and wireless infrastructure provider Crown Castle International Corp. (NYSE:CCI - 66.46). Here's a quick roundup of today's bullish brokerage notes.

  • RCL -- which boasts a year-to-date advance of nearly 36% -- scored a price-target hike to $37 from $34 at Jefferies this morning. Meanwhile, calls are dominating the options pits, as evidenced by the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 13.17. Or in simpler terms, traders have bought to open more than 13 calls for every put during the past two weeks. This ratio ranks higher than 91% of comparable readings taken during the past year, meaning speculators have been buying calls over puts at a near annual-high clip.

  • CCI saw its price target lifted to $73 from $67 at RBC today, which could add to the equity's year-over-year gain of about 57%. Elsewhere, short-term traders are showing a strong penchant for calls over puts. In fact, the equity's Schaeffer's put/call open interest ratio (SOIR) checks in at 0.10, confirming calls outnumber puts by a margin of 10 to one among the front three-months' series of options. This ratio is just one percentage point above a yearly low, indicating near-term speculators have rarely been more call-heavy toward CCI during the last 52 weeks.

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