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)

Feb 17, 2016 at 9:56 AM
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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. 
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