Analyst Upgrades: Boyd Gaming, Campbell Soup, Fossil Group

Analysts upwardly revised their ratings and price targets on Boyd Gaming Corporation (NYSE:BYD), Campbell Soup Company (NYSE:CPB), and Fossil Group Inc (NASDAQ:FOSL)

Josh Selway

Feb 17, 2016 at 9:56 AM

Analysts are weighing in on casino operator Boyd Gaming Corporation (NYSE:BYD), canned food giant Campbell Soup Company (NYSE:CPB), and accessories retailer Fossil Group Inc (NASDAQ:FOSL). Here's a quick roundup of today's bullish brokerage notes on BYD, CPB, and FOSL.

BYD is up 0.5% at $16.90, after Sterne Agee CRT raised its price target to $23 after the company reported a slimmer year-over-year loss in the fourth quarter and a rise in revenue. However, the bottom-line results missed estimates, prompting Susquehanna and Nomura to lower their price targets to $21 and $19, respectively. Differing views from analysts isn't unusual for Boyd Gaming Corporation, as Wall Street is split 50/50 between "strong buy" and "hold" ratings. On the charts, the shares have been grinding lower since their multi-year peak of $21.20 in early November, and are now in danger of closing below their 10-month moving average for the first time since September 2014.

CPB has been trending higher since late 2013, and that doesn't look to end any time soon. The shares are up 2.3% today at $60.81, after the company raised its earnings outlook for the year ahead of next week's earnings report. Campbell Soup Company is now closing in on its March 1998 all-time high of $62.88. Price-target hikes from BofA-Merrill Lynch (to $61) and Morgan Stanley (to $54) should help this cause. Option traders, meanwhile, have taken a decidedly put-focused stance on the food stock. Specifically, CPB's Schaeffer's put/call open interest ratio (SOIR) is an elevated 3.52, outranking 96% of all readings from the past year.

FOSL has exploded out of the gate, following the company's stellar fourth-quarter earnings results. Additionally, Mizuho bumped its price target to $36 from $30, and now the stock is up 25.9% at $43.39. Still, Fossil Group Inc is 48% lower on a year-over-year basis, and these technical troubles have brought short sellers to the table. Currently, over one-fifth of FOSL's float is controlled by short sellers, and it would take them nearly eight sessions to buy back their bets, at average daily volumes.

Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Follow @Schaeffers

The $25K Day Trading Barrier is Gone

The long-standing Pattern Day Trader (PDT) rule that required many traders to maintain a $25,000 account balance is no longer standing in the way.

That means more traders can actively pursue short-term opportunities without the barrier that kept so many on the sidelines.

Now it's all about having the right strategy.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.

👉 Sign up now to receive the next trade