Analyst Update: Analog Devices, Inc., Stage Stores, Inc., and Target Corporation

Analysts adjusted their ratings on Analog Devices, Inc. (NASDAQ:ADI), Stage Stores Inc (NYSE:SSI), and Target Corporation (NYSE:TGT)

by Alex Eppstein

Published on May 20, 2015 at 12:04 PM

Analysts are weighing in today on semiconductor firm Analog Devices, Inc. (NASDAQ:ADI), as well as retailers Stage Stores Inc (NYSE:SSI) and Target Corporation (NYSE:TGT). Here's a quick roundup of today's brokerage notes on ADI, SSI, and TGT.

  • ADI jumped to a 14-year high of $66.58 earlier -- and was last seen up 3.8% at $65.89 -- after the company's earnings beat prompted a rush of bullish analyst attention. Specifically, no fewer than 11 brokerage firms raised their price targets, with the loftiest expectations set by Pacific Crest -- which raised its target to $74 from $66. Over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have been buying to open Analog Devices, Inc. puts over calls at a rapid-fire rate in recent months. The stock's 50-day put/call volume ratio of 1.55 ranks in the 88th percentile of its annual range.

  • SSI is just below breakeven today, at $16.48, following a slimmer-than-expected first-quarter lossThe shares have also received mostly negative brokerage attention, with Nomura, SunTrust Robinson, and B. Riley cutting their price targets -- though the latter also upgraded the security to "buy" from "neutral." Longer term, Stage Stores Inc has been a technical laggard, dropping 29% since hitting an annual high of $23.26 in late March. This has captured the attention of short sellers. During the two most recent reporting periods, short interest on SSI swelled 27.4%, and now makes up 11.4% of its total float. At the stock's average daily trading volume, it would take nearly three weeks to buy back all these bearish bets.

  • TGT is up 0.9% at $78.60, after Sterne Agee CRT lifted its price target by $2 to $73 on the retailer's first-quarter earnings beat and raised guidance. Long term, the shares are now up 37.4% year-over-year, and have been consolidating atop their supportive 120-day moving average for the past week. Despite this encouraging technical set-up, analysts remain skeptical. Twelve of 19 brokerage firms consider Target Corporation a "hold" or worse, and the stock's consensus 12-month price target of $79.82 is just a chip-shot away. In other words, the security could benefit from an additional round of positive analyst attention.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Google Postpones Android Reveal, "Now is Not the Time to Celebrate"
"Now is not the time to celebrate," Google said in a message on its website
ZNGA Zooms to 8-Year High on Billion-Dollar Deal
ZNGA is planning to buy Peak for $1.8 billion
Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....