Analyst Upgrades: Advanced Micro Devices, Dave & Buster's

Analysts upwardly revised their ratings and price targets on Advanced Micro Devices, Inc. (NASDAQ:AMD), Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY), and Lifelock Inc (NYSE:LOCK)

Josh Selway

Jun 9, 2015 at 9:24 AM

Analysts are weighing in today on semiconductor producer Advanced Micro Devices, Inc. (NASDAQ:AMD), restaurant chain Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY), and identity theft focus Lifelock Inc (NYSE:LOCK). Here's a quick roundup of today's bullish brokerage notes on AMD, PLAY, and LOCK.

AMD is getting a lift this morning from Northland, which started the shares with an "outperform" rating. The stock is pointed 2.6% higher ahead of the open, as it tries to win back some of the 13.5% it has lost in 2015, settling yesterday at $2.31. In the meantime, call buying has been through the roof on Advanced Micro Devices, Inc. Specifically, during the past two weeks, more than 6,100 calls have been bought to open at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), compared to just 19 puts.

A first-quarter earnings beat and solid sales forecast has PLAY well-positioned before the open -- and analysts jumping in. The stock has added 4.3% in electronic trading -- and is poised to jump into record-high territory -- thanks in part to price-target hikes from Jefferies (to $41) and Piper Jaffray (to $43). Dave & Buster's Entertainment, Inc., which closed yesterday at $33.25, has been carving out new highs since going public in mid-October, but it appears many speculators may be betting against the stock. For example, PLAY's Schaeffer's put/call open interest ratio (SOIR) stands at 3.16, meaning that put open interest triples call open interest among options expiring in three months or less .

Thanks to a fresh "buy" rating and $20 price target at Wunderlich Securities, LOCK is set to add 0.5% out of the gate. While the stock remains 10.8% lower year-to-date, it's up 8.5% so far in June -- similar to a couple other cybersecurity stocks -- and settled at $16.51 yesterday, its highest perch since an early January bear gap. As such, the equity's 14-day Relative Strength Index (RSI) stands at 77 -- in overbought territory. Traders continue to bet against LOCK, though, as short interest increased 12% during the most recent reporting period, and now accounts for almost 11 sessions' worth of buying power, at normal trading levels.

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