Analyst Update: Boot Barn Holdings Inc, NeoPhotonics Corp, and Morgan Stanley

Analysts adjusted their ratings and price targets on Boot Barn Holdings Inc (NYSE:BOOT), NeoPhotonics Corp (NYSE:NPTN), and Morgan Stanley (NYSE:MS)

by Josh Selway

Published on Feb 3, 2016 at 2:37 PM

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.

  • 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. 

  • 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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