Analyst Upgrades: AT&T, Zillow Group, Wynn Resorts

Analysts upwardly revised their ratings and price targets on AT&T Inc. (NYSE:T), Zillow Group, Inc. - Class C (NASDAQ:Z), and Wynn Resorts, Limited (NASDAQ:WYNN)

Mar 22, 2016 at 9:26 AM
facebook twitter linkedin


Analysts are weighing in on telecommunications stock AT&T Inc. (NYSE:T), real estate firm Zillow Group, Inc. - Class C (NASDAQ:Z), and casino concern Wynn Resorts, Limited (NASDAQ:WYNN). Here's a quick roundup of today's bullish brokerage notes on T, Z, and WYNN.

  • Deutsche Bank raised its price target on T to $41 from $40, representing expected upside of 5.3% to last night's close at $38.92. The stock has had a standout year -- amid a number of new partnerships for AT&T Inc. -- up 13.1%, and fresh off last Friday's seven-year high of $39.26. Option traders, meanwhile, have been initiating long puts over long calls at a rapid-fire rate in recent months. Specifically, T's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.93 sits just 1 percentage point from a 52-week peak.

  • Z saw its rating boosted to "outperform" from "sector perform" and its price target raised to $34 from $21 at RBC, sending the shares up 5.4% in electronic trading. Today's projected pop could run into trouble near Z's 120-day moving average, however, considering this trendline put a quick halt to the stock's recent rebound off its Feb. 8 all-time low of $15.36. On the sentiment front, skepticism is steep. Short interest, for example, jumped 8.2% in the two most recent reporting periods, and now accounts form 21.5% of Zillow Group, Inc. - Class C's available float. It would take more than three weeks to cover these shorted shares, at Z's average daily pace of trading.

  • WYNN is up nearly 2% ahead of the opening bell, as analysts continue to wax optimistic on the shares. Specifically, Morgan Stanley raised its rating to "overweight" from "equal weight," with a $120 price target -- a 29% premium to Monday's settlement at $92.74, and territory not charted since before last April's bear gap. On the charts, Wynn Resorts, Limited has been soaring since hitting a six-year low of $49.95 on Jan. 14, up 86%. More upside could be had, too, should short short sellers keep jumping ship. Short interest fell 11.1% in the most recent reporting period, but still accounts for almost one-fifth of WYNN's available float.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!
 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners