Analyst Update: FireEye, Macy's, and Shake Shack

Analysts adjusted their ratings on FireEye Inc (FEYE), Macy's, Inc. (M), and Shake Shack Inc (SHAK)

Feb 24, 2015 at 11:48 AM
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Analysts are weighing in today on cybersecurity firm FireEye Inc (NASDAQ:FEYE), retailer Macy's, Inc. (NYSE:M), and restaurant chain Shake Shack Inc (NYSE:SHAK). Here's a quick look at today's brokerage notes on FEYE, M, and SHAK.

  • This morning, FBR raised its price target on FEYE to $53 from $45 while reiterating an "outperform" recommendation, prompting the shares to advance about 0.2% to reach $43.45. Looking back, FireEye Inc is in rally mode, with the stock gaining 75% since hitting an annual low of $24.81 on Oct. 13. However, put activity in the options pits is nearing a peak, as FEYE's Schaeffer's put/call open interest ratio (SOIR) of 0.96 sits just 2 percentage points away from an annual high. Simply stated, short-term traders have rarely been more put-skewed over the past year.

  • M predicted weaker-than-expected full-year earnings and revenue earlier today, sending the shares down about 3.6% to reach $61.88. In response, Deutsche Bank cut its price target on the equity by $1 to $71 while underscoring a "buy" rating. Prior to today's drop, Macy's Inc. had been performing well, with the shares up about 10% year-over-year. Accordingly, sentiment in the stock's options pits was optimistic ahead of the retailer's quarterly results -- M's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.04 rests in the 88th percentile of its annual range.

  • No fewer than seven brokerage firms initiated coverage on Wall Street freshman SHAK this morning, sending the shares up about 4.1% to hit $43.31. Most firms handed out the equivalent of a "hold" rating, with price targets south of the stock's current price, but Stifel initiated coverage with a "buy" recommendation and $50 price target. In a note to clients, Goldman Sachs cited "millennial relevancy [and] growing awareness outside of existing markets" as positive drivers for SHAK, but attributed its tepid "neutral" rating and $36 price target to valuation concerns. On the charts, Shake Shack Inc has struggled to muscle north of its Jan. 30 opening price of $47, which has emerged as resistance.
 

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