Analyst Update: Wynn Resorts, Limited, Dollar Tree, Inc., and AMC Networks Inc.

Analysts adjusted their ratings on Wynn Resorts, Limited (WYNN), Dollar Tree, Inc. (DLTR), and AMC Networks Inc (AMCX)

by Josh Selway

Published on Jan 22, 2015 at 2:23 PM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on casino operator Wynn Resorts, Limited (NASDAQ:WYNN), discount store chain Dollar Tree, Inc. (NASDAQ:DLTR), and media company AMC Networks Inc (NASDAQ:AMCX). Here's a quick look at today's brokerage notes on WYNN, DLTR, and AMCX.

  • WYNN is up 2.9% today at $146.16, after Union Gaming initiated coverage with a "buy" rating and $175 price target -- a nearly 20% premium to its current perch. The brokerage firm apparently expects the casino name to break out from its technical funk -- or to flourish in spite of lackluster revenue trends in Macau -- as WYNN has lost 29% in the past 52 weeks. This optimism isn't rare, though, as half of covering analysts rate Wynn Resorts, Limited a "strong buy," with not a single "sell" to be found. Elsewhere, options traders are also upbeat. WYNN's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.58 ranks in the 94th annual percentile of its annual range, meaning calls have been bought to open over puts at a faster-than-usual rate.

  • DLTR gapped higher this morning -- last seen up 3.5% at $70.22 -- after Family Dollar Stores, Inc. (NYSE:FDO) shareholders approved the merger between the two companies. Also boosting DLTR is a price-target hike to $98 from $72 at Barclays, which reiterated its "overweight" opinion. In the stock's options pits, near-term speculators are more put-heavy than normal, according to Dollar Tree, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 1.52. This reading sits only 1 percentage point from an annual high.

  • AMCX has gained 2.9% today to trade at $66.31, as Nomura upgraded the stock to a "buy" and boosted its price target by $10 to $80. The brokerage firm cited AMC Networks Inc's strong lineup of shows -- including "Better Call Saul," the highly anticipated "Breaking Bad" spinoff -- and its buyout potential. While the equity is off 1.7% on a year-over-year basis, it has outperformed the S&P 500 Index (SPX) in the past three months. If this recent trend continues, AMCX could enjoy tailwinds as short sellers jump ship. Nearly 8% of the stock's float is sold short, accounting for over eight sessions' worth of pent-up buying demand, at normal trading levels. In fact, some bearish traders are already throwing in the towel, as short interest decreased by over 17% in the past month.

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