Analyst Update: DISH Network Corp, Nevro Corp, and SINA Corp

Analysts revised their ratings and price targets on DISH Network Corp (DISH), Nevro Corp (NVRO), and SINA Corp (SINA)

Aug 9, 2016 at 2:05 PM
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Analysts are weighing in on cable service provider DISH Network Corp (NASDAQ:DISH), medical device company Nevro Corp (NYSE:NVRO), and tech stock SINA Corp (NASDAQ:SINA). Here's a quick roundup of today's brokerage notes on DISH, NVRO, and SINA.

  • DISH is up 2.6% at $52.63, following an upgrade to "outperform" from "neutral" at Macquarie. The brokerage firm said DISH Network Corp could see benefits from an upcoming spectrum auction, and waxed optimistic about a potential merger scenario with telecom heavyweights T-Mobile US Inc (NASDAQ:TMUS) and Verizon Communications Inc. (NYSE:VZ). Today's positive price action is just more of the same, considering the stock has recovered more than 35% since hitting a two-year low of $38.85 in February, with recent pullbacks contained by its 80-day moving average. Before today, 10 of 12 analysts rated the stock a "hold" or worse, leaving plenty of room for further upgrades to propel DISH even higher.
  • NVRO is the latest healthcare stock to make a big move, surging 15.4% to $93.43 -- fresh off a new all-time high of $94.53 -- after the company turned in a revenue beat and upwardly revised full-year forecast. No fewer than four brokerage firms raised their price targets, including Leerink. Specifically, the brokerage boosted its price target to $120 from $95, citing strong sales of the firm's Senza HF10 pain management system. The stock is currently up 81% year-over-year, and could find support going forward near $86, home to its previous highs. This latest move likely has short sellers kicking rocks. Short interest on the stock jumped 6.1% in the latest reporting period, and now accounts for 29.4% of NVRO's float, an amount that would take over two weeks of trading -- at Nevro Corp's average daily volume -- to cover.
  • SINA is up 13.5% at $66.23 -- and earlier hit a two-year high of $66.65 -- after the firm's second-quarter earnings exceeded expectations. In wake of the earnings win, Brean raised SINA's price target to $65 from $55, and Jefferies boosted its price target to $67 from $64. SINA Corp now sits up almost 58% year-over-year, thanks in part to several recent bounces off its 80-day moving average. In the options pits, however, SINA's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 1.99 is higher than 92% of all other annual readings, meaning puts have been bought to open over calls at a near-annual-high clip.
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