Analyst Upgrades: Under Armour Inc, Wendy's Co, and AT&T Inc.

Analysts upwardly revised their ratings and price targets on Under Armour Inc (NYSE:UA), Wendy's Co (NASDAQ:WEN), and AT&T Inc. (NYSE:T)

Josh Selway

Apr 5, 2016 at 9:37 AM

Analysts are weighing in on athletic apparel maker Under Armour Inc (NYSE:UA), fast food stock Wendy's Co (NASDAQ:WEN), and telecommunications titan AT&T Inc. (NYSE:T). Here's a quick roundup of today's bullish brokerage notes on UA, WEN, and T.

UA is looking for yet another strong second quarter, and it appears to be on the right track early, with FBR upping its price target on the stock to $118 -- representing all-time-high territory. The shares have been notching higher lows and highs since their post-earnings bull gap in late January to trade at $82.60, and could be poised for more gains if the pessimism across Wall Street unwinds. For example, over 15% of Under Armour Inc's float is sold short, and it'd take short sellers more than two weeks to cover their positions, at average daily volumes.

After finding support around the $9 level in mid-February, WEN has surged higher to trade at $10.85. This price action has apparently impressed Evercore ISI, which initiated coverage with a "buy" rating -- though 69% of analysts still say the stock's a "hold" or worse. Over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), however, speculators have been betting on a breakout. During the past 10 weeks, nearly 6,600 Wendy's Co calls have been bought to open across these exchanges, compared to just 200 puts.

T has been on fire in 2016, gaining 14.3% at $39.33, and hitting a seven-year high of $39.72 just last week. Macquarie has responded to this technical performance by starting coverage with an "outperform" label, which matches the general opinion on the Street. To be more specific, 14 of the 23 analysts that cover AT&T Inc. recommend buying it, while none consider it a "sell."

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