Analyst Update: Alibaba Group Holding Ltd, DSW Inc., and Syros Pharmaceuticals Inc

Analysts revised their ratings and price targets on Alibaba Group Holding Ltd (BABA), DSW Inc. (DSW), and Syros Pharmaceuticals Inc (SYRS)

by Celeste Taylor

Published on Aug 30, 2016 at 3:24 PM

Analysts are weighing in on Chinese e-commerce concern Alibaba Group Holding Ltd (NYSE:BABA), shoe retailer DSW Inc. (NYSE:DSW), and biotech stock Syros Pharmaceuticals Inc (NASDAQ:SYRS). Here's a quick roundup of today's brokerage notes on BABA, DSW, and SYRS.

  • BABA is up 1.3% at $96.10, after Andrew Left of Citron Research said that he is long on the shares. The noted short seller also chimed in on Facebook Inc (NASDAQ:FB), although the outlook wasn't so rosy. Regardless, today's upside move puts the shares of BABA up more than 62% from their mid-February year-to-date low at $59.25 -- and within a chip-shot of their Aug. 15 annual high of $98.86. While analysts have been quickly climbing on board BABA's bullish bandwagon, a capitulation from some of the weaker bearish hands could create fresh tailwinds for Alibaba Group Holding Ltd. Short interest accounts for almost 10% of BABA's available float, or more than four sessions' worth of pent-up buying demand, at the equity's average pace of trading.
  • Similar to sector peer Abercrombie & Fitch Co. (NYSE:ANF), DSW is taking it on the chin after delivering its earnings report this morning, currently down 11% at $23.13. The footwear retailer beat per-share earnings estimates, but reported lower sales year-over-year. DSW has been on the receiving end of some mixed analyst attention, with Deutsche Bank cutting its price target to $22 from $23, while Jefferies raised its price target to $28 from $26. DSW is down over 20% year-over-year, and is set to end the week beneath its 10-week moving average for the first time since early July. Some near-term options traders are likely kicking rocks, as the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.37 is higher than just 12% of all other readings from the past year, pointing to a bigger-than-usual call bias heading into earnings.

  • SYRS is up 12% at $13.10, after its founders Nathanael Gray and Richard Young published encouraging research on a CDK12 and CDK13 inhibiting compound, THZ531, which could help treat aggressive cancers. Phase 1 and 2 trials of the compound should begin in the first half of 2017. Meanwhile, JMP Securities reiterated its "market outperform" rating and $22 price target for the Wall Street freshman. Syros Pharmaceuticals Inc jumped to a record high of $21.50 shortly after going public on June 30, only to give up more than 60% and hit a record low of $8.61 in early August. Thanks to today's gains, though, SYRS is trading back above its initial public offering (IPO) price of $12.50, and earlier hit a six-week high of $15.56.
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