Schaeffer's Trading Floor Blog

Analyst Upgrades: AT&T, TripAdvisor, and Walt Disney

Analysts upwardly revised their ratings on T, TRIP, and DIS

by 11/12/2012 8:56 AM
Stocks quoted in this article:

Analysts are weighing in today on wireless communications giant AT&T Inc. (NYSE:T - 33.54), online travel site TripAdvisor, Inc. (NASDAQ:TRIP - 34.31), and entertainment giant The Walt Disney Company (NYSE:DIS - 47.06). Here's a quick roundup of today's bullish brokerage notes.

  • T saw its price-target lifted to $33.50 from $31.50 at Macquarie ahead of the opening bell, which could add to the equity's year-over-year gain of 14%. Nevertheless, near-term bears have taken a shine to the stock lately. Schaeffer's put/call open interest ratio (SOIR) for T checks in at 2.03, confirming puts more than double calls among options slated to expire over the next three months. This ratio is docked in the 88th percentile of its annual range, meaning short-term traders have been more put-heavy toward the security just 12% of the time during the past year.

  • Up nearly 4% in pre-market trading, TRIP was upgraded to "overweight" from "underweight" at Morgan Stanley this morning. The stock currently boasts a year-to-date advance of about 36%, but that hasn't stopped skeptics from swarming TRIP. Short interest on the security rose by nearly 7% during the last two reporting periods, and now represents roughly 17% of the equity's available float. In fact, it would take almost seven days to unwind these bearish bets, at the stock's average daily trading volume.

  • DIS -- which has climbed more than 28% during the past year -- was raised to "buy" from "neutral" at Citigroup today. Meanwhile, calls seem to be ruling the options pits as of late. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day call/put volume ratio of 2.81 for DIS, indicating calls bought to open have nearly tripled puts during the past two weeks. This ratio ranks in the 89th annual percentile, conveying traders have been picking up calls over puts at a faster-than-usual pace.

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