Analyst Update: Activision, Buffalo Wilds Wings, MEI Pharma

Analysts adjusted their ratings on Activision Blizzard, Inc. (ATVI), Buffalo Wild Wings (BWLD), and MEI Pharma Inc (MEIP)

Feb 6, 2015 at 12:21 PM
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Analysts are weighing in today on video game developer Activision Blizzard, Inc. (NASDAQ:ATVI), fast-casual restaurateurBuffalo Wild Wings (NASDAQ:BWLD), and pharmaceutical firm MEI Pharma Inc (NASDAQ:MEIP). Here's a quick look at today's brokerage notes on ATVI, BWLD, and MEIP.

  • ATVI is up 2.1% this afternoon to hit $22.28, after issuing lackluster guidance for 2015. In response, no fewer than seven brokerage firms adjusted their price targets on Activision Blizzard, Inc., including Brean, BMO, Barclays and Pacific Crest, which all cut their predictions to $25 while reiterating "outperform" or equivalent ratings. Benchmark was the lone firm to hike its target price, raising it to $26.06. From a longer-term perspective, ATVI has gained about 10.4% year-to-date. However, sentiment in the stock's options pits is bearish, with ATVI's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.17 sitting in the 87th percentile of its annual range.

  • Shares of BWLD notched an all-time high of $195.83, after the company reported excellent same-store sales, overshadowing a fourth-quarter earnings miss. At least five brokerage firms reacted to the news by raising their price targets on the equity, with the most dramatic moves coming from Stephens, which hiked its prediction by $40 to $210, and Buckingham, which elevated its estimate to $132 from $113. Despite Buffalo Wild Wings' positive price action of late, sentiment in the security's options pits is bearish, as its 50-day ISE/CBOE/PHLX put/call volume ratio of 1.25 is higher than 85% of all equivalent annual readings.

  • MEIP is up 2.3% in intraday trading to hit $4.04, after Wells Fargo issued an "outperform" rating for its first ever prediction on the equity. The endorsement is somewhat surprising, given that MEI Pharma Inc is down nearly 53.2% year-over-year. However, all five covering analysts rate the stock a "strong buy." Option traders aren't nearly as optimistic on MEIP, per its Schaeffer's put/call open interest ratio of 0.60, which sits in the 69th percentile of its annual range. Simply stated, near-term options traders are more put-heavy than usual.
 

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