Analyst Upgrades: Activision Blizzard, Dunkin, ArcelorMittal

Analysts upwardly revised their ratings and price targets on Activision Blizzard, Inc. (ATVI), Dunkin Brands Group Inc (DNKN), and ArcelorMittal SA (ADR) (MT)

Apr 13, 2016 at 9:14 AM
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Analysts are weighing in on video game guru Activision Blizzard, Inc. (NASDAQ:ATVI), doughnut dealer Dunkin Brands Group Inc (NASDAQ:DNKN), and steel stock ArcelorMittal SA (ADR) (NYSE:MT). Here's a quick roundup of today's bullish brokerage notes on ATVI, DNKN, and MT.
 
  • Stifel bumped its price target on ATVI up to $40 from $35, representing record-high territory for the stock. The bullish note has helped the shares gain 0.7% in electronic trading, after they settled yesterday at $33.48 -- down 13.5% in 2016. Activision Blizzard, Inc. is lower on a month-to-date basis, too, which is par for the course, but it could take a bounce from its supportive 20-day moving average. Meanwhile, the brokerage crowd is stacked in ATVI's favor, with 14 of 15 analysts doling out "buy" or better endorsements, and not a single "sell" assessment to be found.
  • DNKN saw its rating upgraded to "outperform" from "buy" at CLSA. This is far from surprising, considering the stock has rallied over 14% year-to-date at $48.72. That said, not everyone's buying the hype. Dunkin Brands Group Inc's 10-day put/call volume ratio of 28.15 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) represents an annual high. Plus, the stock's short-interest ratio registers at a sky-high 12.70, meaning it would take over two weeks for short sellers to cover their positions. If DNKN keeps charging higher, a capitulation among these bears could produce tailwinds.
  • MT is pointed 6.6% higher in pre-market trading, after Credit Suisse upped its opinion to "outperform" from "neutral," while bumping its price target to $7.50. Not everyone's in the stock's bullish corner, though. Short interest spiked over 35% during the most recent reporting period, and short-term options traders have rarely been more put-focused in the past year -- based on ArcelorMittal SA's Schaeffer's put/call open interest ratio (SOIR) of 1.49, which ranks in the 90th annual percentile. The stock's technical performance doesn't warrant such skepticism, though. MT has soared 61.4% year-to-date to trade at $5.19, as commodity stocks have been all the rage.
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