Analysts adjusted their ratings and price targets on Boot Barn Holdings Inc (BOOT), NeoPhotonics Corp (NPTN), and Morgan Stanley (MS)
Analysts are weighing in today on retailer Boot Barn Holdings Inc (NYSE:BOOT), circuit maker NeoPhotonics Corp (NYSE:NPTN), and financial firm Morgan Stanley (NYSE:MS). Here's a quick roundup of today's brokerage notes on BOOT, NPTN, and MS.
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BOOT has stormed 31.1% higher to $7.25, after the company's unexpectedly strong quarterly showing. What's more, an upgrade to "buy" from "neutral" at B. Riley is overshadowing a price-target cut to $15 from $19 at Jefferies. However, Boot Barn Holdings Inc's gains today have been capped by its descending 20-day moving average, the same trendline that's blocked previous breakout attempts since the stock's bear gap in early August. In fact, the shares have tumbled over 78% since then, touching an all-time low of $5.20 just yesterday. Shorts have been betting on more downside, and in the most recent reporting period, short interest jumped by 14.3%. It would take bears over a week to buy back their shares, at BOOT's normal trading volumes.
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An upgrade to "strong buy" from "outperform" at Raymond James has NPTN trying to break out above the $10 level once again, with the shares up 14.5% at $9.96. NeoPhotonics Corp is now positioned to take back its 10-week moving average -- which guided the stock to its four-year high of $11.49 in December -- for the first time in a month. Even though NPTN has slightly underperformed the S&P 500 Index (SPX) in recent months, the general sentiment on Wall Street is bullish. Specifically, 80% of analysts say the stock is a "buy" or better.
- MS is just another financial stock taking it on the chin, with the Financial Select Sector SPDR ETF (XLF) sliding 1.7% today. Specifically, the stock has lost 2.2% at $23.96 -- and earlier hit a two-year low of $23.29 -- following a downgrade to "underweight" at Atlantic Equities. Amid Morgan Stanley's recent struggles, short sellers have been piling on. In fact, short interest surged over 25% during the last two reporting periods, but still only accounts for 0.9% of the equity's available float.
For other stocks in analysts' crosshairs, read
Analyst Upgrades: Intel Corporation, Skyworks Solutions Inc, and Edwards Lifesciences Corp and
Analyst Downgrades: Chipotle Mexican Grill, Inc., Tesla Motors Inc, and Yahoo! Inc.
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