Schaeffer's Trading Floor Blog

Analyst Update: Wynn Resorts, Electronic Arts, and Ctrip.com

Analysts adjusted their positions on WYNN, EA, and CTRP

by 1/7/2013 11:47 AM
Stocks quoted in this article:

While stocks are drifting into the red in late-morning trading, here's a quick update on today's latest brokerage notes, including adjustments for casino and hotel operator Wynn Resorts, Limited (NASDAQ:WYNN - 120.62), videogame developer Electronic Arts Inc. (NASDAQ:EA - 14.52), and travel services site Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP - 23.99).

  • WYNN was greeted with an upbeat note this morning, as Sterne Agee lifted its price target by $6 to $120. There could be additional target hikes ahead, should the shares exceed analysts' expectations. The consensus 12-month price target of $129.95 represents a slim 7.7% premium to the stock's current trading price. However, this upgrade news has failed to spark an upswing on the charts. WYNN is currently sitting on a 12% year-over-year gain, but is running into a technical ceiling in the $122-$124 neighborhood, which has been in effect since mid-May.

  • Stern Agee also weighed in on EA, downgrading the gaming name to "neutral" from "buy." Investors were disappointed by the move and have swatted the shares down some 2.5%, pulling its 52-week deficit to almost 26%. The brokerage bunch is bearishly skewed, though there is plenty of room for the bullish holdouts to jump ship, as EA counts nine "buy" or better endorsements, 11 "holds," and zero "sell" suggestions.

  • Finally, CTRP is moving in positive territory today, benefiting from a bullish note from Barclays. Specifically, the firm upgraded the stock to "equal weight" from "under weight," and increased its target to $26 from $15. This newly adjusted target sits well above the 12-month consensus view of $20.52, which is a near $3.50 discount to CTRP's current trading price. Should this momentum continue, and the shares add to their 6% return tacked on since the beginning of the year, other bearish brokerages could reassess their current positions. Currently, 63% of the 11 covering analysts maintain a "hold" or worse recommendation for CTRP.

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