Analyst Upgrades: Activision Blizzard, Inc., Priceline Group Inc, and TASER International, Inc.

Analysts upwardly revised their ratings and price targets on Activision Blizzard, Inc. (ATVI), Priceline Group Inc (PCLN), and TASER International, Inc. (TASR)

by Alex Eppstein

Published on Aug 5, 2016 at 9:23 AM
Updated on Jun 24, 2020 at 10:16 AM

Analysts are weighing in on video game maker Activision Blizzard, Inc. (NYSE:ATVI), online travel portal Priceline Group Inc (NASDAQ:PCLN), and self-defense stock TASER International, Inc. (NASDAQ:TASR). Here's a quick roundup of today's bullish brokerage notes on ATVI, PCLN, and TASR.

  • ATVI is following in the post-earnings footsteps of this sector peer, up 3.4% pre-market after the company's record-setting second-quarter report. Adding fuel to the fire, no fewer than nine analysts lifted their price targets on the stock, with Jefferies setting the highest bar (at $55, and in uncharted territory). Of course, Activision Blizzard, Inc. is no stranger to big gains after earnings, and at $40.83, it isn't far from record-high levels achieved in mid-July. Strangely, short interest shot nearly 29% higher in the latest reporting period, and these bears could be left kicking rocks.

  • By contrast, it looks like PCLN shares will diverge from those of this rival following upbeat earnings. The stock has added 5.6% ahead of the bell, bolstered by a raft of over a dozen price-target hikes. Jefferies' outlook is the most ambitious of the bunch, with the brokerage firm setting its sights on $1,700 -- easily topping Priceline Group Inc's current perch at $1,359.99, as well as its record high of $1,476.52. Should the shares pop as expected, they could hit their highest level since last November. To be sure, option bears could be feeling the heat. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), PCLN has racked up a put/call volume ratio of 1.07 -- just 7 percentage points from an annual peak.

  • TASR is pointed 2.1% higher in electronic trading, benefiting from an earnings beat, as well as price-target hikes at Craig-Hallum and Ladenburg Thalmann. At $28.95, the stock has already advanced a gaudy 67.4% year-to-date, and could make a run at its annual high of $29.58 from earlier this week. If this happens, a short-squeeze situation could ensue, considering 18.9% of TASER International, Inc.'s float is sold short -- or roughly seven sessions' worth of pent-up buying power, at TASR's typical trading levels.
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