Analyst Update: Transocean, Dreamworks, Amazon

Analysts adjusted their ratings and price targets on Transocean LTD (NYSE:RIG), Dreamworks Animation Skg Inc (NASDAQ:DWA), and Amazon.com, Inc. (NASDAQ:AMZN)

by Josh Selway

Published on Jan 12, 2016 at 1:33 PM
Updated on Jun 29, 2020 at 4:22 PM

Analysts are weighing in today on offshore driller Transocean LTD (NYSE:RIG), entertainment stock Dreamworks Animation Skg Inc (NASDAQ:DWA), and e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN). Here's a quick roundup of today's brokerage notes on RIG, DWA, and AMZN.

  • It's no secret commodity stocks have been hurting, and RIG has been no exception. The shares have been consistently knocking out new lows recently, notching a new all-time bottom of $9.78 earlier. On top of sliding oil futures, Transocean LTD is being weighed down by a price-target cut to $11 from $13 at UBS. The stock was last seen down 4.2% at $9.91, and short sellers couldn't be happier. Almost 35% of RIG's float is sold short, which is the equivalent of nearly 12 days' worth of buying power, at normal daily volumes. 

  • DWA is going the other direction, with the shares picking up 4.6% at $25.55, following an upgrade to "outperform" at FBR. The stock is now trying to re-take its 20-day moving average, a level that guided the shares higher throughout December. Option traders are set to cash in if Dreamworks Animation Skg Inc does extend its rally. DWA's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at an astonishing 16.63 -- just 8 percentage points from an annual high

  • AMZN is also edging higher today, last seen up 0.3% at $619.95. The Street is apparently responding to a price-target hike at UBS to $750 from $700 -- representing all-time-high territory for the stock. After a brilliant 2015, Amazon.com, Inc. has swooned with the broader market this year, but option traders don't expect the losses to last. The stock's 10-day call/put volume ratio at the ISE, CBOE, and PHLX still shows call buying has an edge, coming in at 1.19 -- higher than nearly 70% of all other readings from the past 12 months.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Apple Inc., Intel Corporation, and The Coca-Cola Co and Analyst Downgrades: Twitter Inc, Eldorado Gold Corp (USA), and Alcoa Inc.

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