Analyst Upgrades: Finish Line Inc, Medivation Inc, and McDonald's Corporation

Analysts upwardly revised their ratings and price targets on Finish Line Inc (FINL), Medivation Inc (MDVN), and McDonald's Corporation (MCD)

Mar 28, 2016 at 9:26 AM
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Analysts are weighing in on athletic apparel retailer Finish Line Inc (NASDAQ:FINL), biopharmaceutical stock Medivation Inc (NASDAQ:MDVN), and restaurant chain McDonald's Corporation (NYSE:MCD). Here's a quick roundup of today's bullish brokerage notes on FINL, MDVN, and MCD.
  • BB&T and Monness Crespi Hardt both upgraded FINL to "buy," while Brean Capital raised its price target on the stock by $1 to $22 -- a healthy 15.4% premium over Thursday's closing price of $19.07. On the charts, Finish Line Inc has been trending steadily higher since mid-November -- up 5.5% year-to-date -- and the shares have lately been enjoying support atop their 60-day moving average. And while short interest remains elevated, option traders have been seemingly bullish in recent months, buying to open 5.15 FINL calls for each put in the last 50 sessions on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- a ratio higher than 87% of comparable readings in the past year.
  • MDVN received a price-target hike to $48 from $45 at Barclays, after the company announced Thursday that it is beginning a late-stage trial for its prostate cancer treatment. Medivation Inc is down 1.4% in pre-market trading, however, on track to give back a portion of Thursday's 8.1% gain, which had the stock settle at $42.57 and north of its 120-day moving average -- a trendline that has been ushering the shares lower since last June. In the options pits, speculative players have been picking up long calls relative to puts on lightly traded MDVN at breakneck speed. In fact, the equity's 10-day call/put volume ratio on the ISE, CBOE, and PHLX sits at 28.18 -- in the 97th percentile of its annual range.
  • Cowen and Company raised its price target on MCD to $125 from $116 -- in line with the stock's latest all-time high, tagged last Wednesday. Longer term, McDonald's Corporation has surged 41% since hitting a three-year low of $87.50 in August, and settled at $123.29 Thursday. But despite the security's recent strength, not everyone is in MCD's corner. Of the 23 analysts providing coverage, 13 rate the stock a "hold" or worse. And option traders appear to be expecting a pullback, too. At the ISE, CBOE, and PHLX, MCD's 10-day put/call volume ratio of 3.06 is at an annual bearish peak. Another round of bullish brokerage notes and/or a capitulation from option bears could create fresh tailwinds for MCD.
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