Analyst Upgrades: GrubHub Inc, Intel Corporation, and Gap Inc

Analysts upwardly revised their ratings and price targets on GrubHub Inc (GRUB), Intel Corporation (INTC), and Gap Inc (GPS)

Jul 8, 2016 at 9:59 AM
facebook twitter linkedin


Analysts are weighing in on food ordering firm GrubHub Inc (NYSE:GRUB), Dow component Intel Corporation (NASDAQ:INTC), and retail stock Gap Inc (NYSE:GPS). Here's a quick roundup of today's bullish brokerage notes on GRUB, INTC, and GPS.

  • Wedbush initiated coverage on GRUB with an upbeat "outperform" rating and a price target of $40 -- an almost 28% premium over the stock's current price of $31.33. GrubHub Inc has added 29.5% on the charts so far this year, and options traders have been busy picking up calls at an usually quick pace of late. At the same time, more than 45% of GRUB's total float still sold short -- though short interest has been slowly dropping, falling 8.1% during the most recent two-week reporting period.

  • INTC received an upgrade to "market perform" at Bernstein, while RBC raised its price target on the stock by $1 to $34. The shares are off 1.7% year-to-date, but on Thursday overtook the $33 level, which had been giving INTC trouble since early January. Options traders seem to be betting on a rally for Intel Corporation, which is up 2% at $33.88 today. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 2.26 sits just 2 percentage points from an annual bullish peak.

  • GPS is soaring 7% to $22.13, after its strong June sales report was met with no fewer than seven price-target hikes from analysts. Cowen and Company set the highest target, at $25 -- a level the shares of Gap Inc haven’t topped since early April. In fact, the stock is down 39% year-over-year, and most analysts have been taking a pessimistic view. Of 23 brokerage firms providing coverage, only three recommend buying GPS. Meanwhile, options traders have been busy ramping up their bullish bets in recent weeks, with the stock's 10-day ISE/CBOE/PHLX call/put volume ratio seated higher than 93% of the past year's readings, at 3.36. Looking back, this marks a second straight month of upbeat sales reports for the retailer.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!
 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners