Analyst Upgrades: Cracker Barrel, Home Depot, and NVIDIA

Analysts upwardly revised their ratings and price targets on Cracker Barrel Old Country Store, Inc. (CBRL), Home Depot Inc (HD), and NVIDIA Corporation (NVDA)

Jun 2, 2016 at 9:54 AM
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Analysts are weighing in on restaurateur Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), retailer Home Depot Inc (NYSE:HD), and visual computing stock NVIDIA Corporation (NASDAQ:NVDA). Here's a quick roundup of today's bullish brokerage notes on CBRL, HD, and NVDA.

  • Following yesterday's earnings-induced bull gap and record high, CBRL received a price-target hike to $178 from $166 at Maxim. The stock is up 0.5% at $165.01 after dropping out of the gate, potentially due to its 14-day Relative Strength Index (RSI) reading -- which settled Wednesday at 75, in overbought territory. Despite Cracker Barrel Old Country Store, Inc.'s technical tenacity, short interest on the stock is sky high. Roughly one-quarter of the equity's float is shorted, representing nearly four weeks of pent-up buying power, at CBRL's average trading levels.

  • HD was started with a "buy" rating at BTIG. In early trading, though, the stock is off 0.1% at $131.75 -- just south of its year-to-date breakeven mark. Options traders have high hopes for Home Depot Inc. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 1.66 calls for every put in the past two weeks. The corresponding call/put volume ratio outstrips 86% of all other readings taken in the last year.

  • NVDA is up 1% at $47.26 -- just off a new all-time high of $47.54 -- after Goldman Sachs initiated coverage with a "buy" rating and a $54 price target. Yet, there's still a ton of skepticism being levied toward NVIDIA Corporation on Wall Street. Half of the analysts tracking the shares maintain a "hold" or worse recommendation. Also, NVDA's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.19 ranks in the 82nd percentile of its annual range. A capitulation among these skeptics could create tailwinds for the tech stock.
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