Analyst Upgrades: Pier 1, Netflix, and Marvell Tech

Analysts upwardly revised their ratings on Pier 1 Imports Inc (PIR), Netflix, Inc. (NFLX), and Marvell Technology Group Ltd. (MRVL)

Apr 9, 2015 at 9:37 AM
facebook twitter linkedin


Analysts are weighing in today on home furnishings retailer Pier 1 Imports Inc (NYSE:PIR), streaming titan Netflix, Inc. (NASDAQ:NFLX), and semiconductor concern Marvell Technology Group Ltd. (NASDAQ:MRVL). Here's a quick roundup of today's bullish brokerage notes on PIR, NFLX, and MRVL.

  • After announcing a per-share quarterly earnings beat and a dividend hike, PIR scored some analyst love. Specifically, Wedbush raised its opinion on Pier 1 Imports Inc to "outperform" from "neutral," while hiking its price target to $16 from $13.50. On the charts, PIR -- which closed at $12.65 yesterday -- is 5.7% higher today to $13.36, bringing its year-over-year deficit to 27%. Accordingly, put activity has been prominent in the options pits, as PIR's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.06 stands in the 88th annual percentile. Wedbush excluded, the brokerage bunch is wary of PIR too, as 77% of covering analysts rate the stock a "hold" or worse.

  • BMO raised its price target on NFLX to $450 from $400 while keeping its "market perform" rating, echoing a late-session price-target hike to $510 from $460 -- in uncharted territory -- from Goldman Sachs. At last check, the shares of Netflix, Inc. were down about 0.6% to $439, bringing their year-to-date lead to 28.5% (thanks to a January post-earnings bull gap). Yesterday, the stock closed at $441.35, and north of its 20-day moving average for the first time since early March. Although NFLX has been a technical outperformer , the brokerage bunch is divided on the equity, as 48% of covering analysts rate it a "hold" or worse. Additionally, NFLX's average 12-month price target of $451.03 represents just a 2.2% premium to yesterday's closing price, showing that additional price-target hikes and/or analyst upgrades could be on the horizon.

  • The shares of MRVL are pointed 1.6% higher to $15.24, after Cowen and Company initiated coverage on the equity with an "outperform" rating and a $20 price target -- in a neighborhood not explored in four years. Looking back, Marvell Technology Group Ltd. has been sliding, with the shares down 10.6% from their Feb. 20 two-year high of $16.78 to close Wednesday at an even $15. However, traders have been picking up calls at an annual-high clip, as MRVL's 50-day ISE/CBOE/PHLX call/put volume ratio of 11.48 is the highest such reading taken over the past year. Mirroring this indicator is the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.22, which stands in the 22nd percentile of its annual range. Said another way, short-term speculators have rarely been this call-skewed over the past year.
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners