Analyst Upgrades: Yelp Inc, Activision Blizzard, Inc., and Goldcorp Inc.

Analysts upwardly revised their ratings and price targets on Yelp Inc (YELP), Activision Blizzard, Inc. (ATVI), and Goldcorp Inc. (USA) (GG)

by Kirra Fedyszyn

Published on May 6, 2016 at 9:27 AM
Updated on May 6, 2016 at 10:28 AM

Analysts are weighing in on business review site Yelp Inc (NYSE:YELP), video game maker Activision Blizzard, Inc. (NASDAQ:ATVI), and gold stock Goldcorp Inc. (USA) (NYSE:GG). Here's a quick roundup of today's bullish brokerage notes on YELP, ATVI, and GG.

  • YELP is set to shoot up 10.8% at the open, after settling at $21.42 on Thursday. The company reported stronger-than-expected first-quarter earnings last night, and no fewer than 11 brokerage firms have already chimed in with price-target hikes. Credit Suisse set the loftiest target, at $46 -- a level the shares haven’t seen since last June. In fact, Yelp Inc has been in a downtrend, under pressure from its 160-day moving average for months -- though the stock got a lift from an activist investor earlier this week. Overall, analysts are mostly bearish, with 20 of 25 rating the shares a "hold" or worse.
  • ATVI is 3.8% higher in pre-market trading, as the company also released a strong first-quarter earnings report and full-year outlook, thanks to its recent acquisition of "Candy Crush" creator King Digital Entertainment PLC. So far, at least 10 analysts have raised their price targets on the stock, to a range between $34 and $43, while the shares finished Thursday at $34.91. The brokerage bunch has generally been optimistic of late, and traders seem to be coming around, as well. Short interest on Activision Blizzard, Inc. fell by nearly 18% during the two most recent reporting periods, and now accounts for just 4% of the equity's float.
  • GG is headed 2.2% higher leading up to the open, thanks to a rise in gold prices after three straight days of losses, and a price-target hike to $17 from $16.50 at RBC. Like many of its sector peers, Goldcorp Inc. has been on a tear this year, adding 62% so far and hitting an annual high earlier this week, before settling at $18.73 on Thursday. But option traders don't seem convinced that the gains can continue. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 50-day put/call volume ratio of 0.82 sits in the 87th percentile of its annual range.
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