Analyst Update: Energy Focus, AutoZone, PVH Corp

Analysts adjusted their ratings on Energy Focus Inc (NASDAQ:EFOI), AutoZone, Inc. (NYSE:AZO), and PVH Corp (NYSE:PVH)

Aug 27, 2015 at 1:56 PM
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Analysts chimed in on lighting specialist Energy Focus Inc (NASDAQ:EFOI), auto parts retailer AutoZone, Inc. (NYSE:AZO), and clothing company PVH Corp (NYSE:PVH). Here's a quick roundup of today's brokerage notes on EFOI, AZO, and PVH.

  • EFOI hit a five-year high of $22.47 around lunchtime, and was last seen up 11.8% at $20.80. Stoking this burst of buying power is a bullish write-up in the Wall Street Observor, which tapped Energy Focus Inc as a firm with high earnings per share growth. Today's gap higher is nothing new for the stock, which has more than quadrupled year-to-date. While only two analysts currently follow EFOI, they both maintain a "strong buy" recommendation. Meanwhile, the average 12-month price target of $20.50 is roughly in line with current trading levels. Going forward, a fresh round of upbeat analyst initiations and/or price-target hikes could add fuel to the security's fire.

  • BofA-Merrill Lynch added AZO to its "best ideas list," while upgrading the stock to "buy" from "neutral." Specifically, the brokerage firm cited lower gas prices -- as crude oil lingers near six-year lows -- and an improving employment picture as the catalyst. As a result, AZO has jumped 3.8% this afternoon to $733.25, widening its year-over-year advance to 36%. What's more, the shares are within a chip-shot of taking out their record peak of $754.90, tagged on Aug. 19. More upside could be in store, should short sellers start cashing in their losing bets. Short interest accounts for a healthy 7.2% of AutoZone, Inc.'s available float, representing 11.3 days' worth of pent-up buying demand.

  • PVH has surged 6.5% this afternoon to $118.64, after the company's strong earnings report and upwardly revised guidance was met with a price-target boost to $134 from $131 at Credit Suisse -- territory not charted since January 2014. (J.P. Morgan Securities, meanwhile, lowered its price target to $126 from $129.) Today's pop is much needed for a security that was down 13% year-to-date heading into today's session, and had been struggling near its 320-day moving average since early January. Option traders, it seems, had been bracing for a post-earnings plunge. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), PVH Corp's 50-day put/call volume ratio of 1.58 sits higher than all other comparable readings taken in the past year. In other words, puts have been bought to open over calls at an annual-high clip.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Amazon.com, Inc., SolarCity Corp, and Yelp Inc and Analyst Downgrades: Abbott Laboratories, Workday Inc, and Avago Technologies Ltd.
 

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