Analysts upwardly revised their ratings and price targets on Nike Inc (NKE), Monster Beverage Corporation (MNST), and Yelp Inc (YELP)
Analysts are weighing in on Dow stock
Nike Inc (NYSE:NKE), drink distributor
Monster Beverage Corporation (NASDAQ:MNST), and social media issue
Yelp Inc (NYSE:YELP). Here's a quick roundup of today's bullish brokerage notes on NKE, MNST, and YELP.
- NKE is set to jump 2.2% higher at the open, after the apparel manufacturer reported better-than-expected quarterly earnings, prompting a pair of bullish brokerage notes. Specifically, Jefferies and Susquehanna raised their respective price targets to $75 and $64 -- the former in record-high territory, with Jefferies predicting "margin recovery, China growth and improved signature bball" next year. That said, at least four other analysts trimmed their price targets. Since bottoming at $49.01 in early November, Nike Inc has been muscling higher, up 5.7% at $51.79 -- with an assist from the $50 half-century level. And with a majority of analysts still doling out "hold" or worse assessments, NKE stock has plenty of room to run on future upgrades.
-
Jefferies upgraded its rating on MNST to a "buy," and boosted its price target into all-time-high territory, at $58. Moreover, the brokerage firm dubbed the stock its top large-cap growth pick in the sector, citing accelerated sales growth, an attractive valuation, and strategic optionality should The Coca-Cola Co (NYSE:KO) acquire the remaining 82% of outstanding shares. Given these positive drivers, Monster Beverage Corporation is perched nearly 4% higher pre-market, after settling yesterday at $43.54. The stock badly needs a boost, too, considering it's lost 11% of its value since the start of the quarter. In the options pits, bears have been piling on. Specifically, MNST has amassed a 10-day put/call volume ratio of 3.29 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- in the high 94th percentile of its annual range.
- YELP was dubbed RBC Capital's top 2017 small-cap internet pick, lifting the shares 0.8% ahead of the bell. At $37.14, it's been a sensational year for the shares, up 29%. As such, short sellers have been hitting the exits lately, with short interest plummeting nearly 25% in the most recent reporting period. That said, one-tenth of Yelp Inc's float remains dedicated to short interest. At the stock's average trading levels, this represents one week's worth of pent-up buying power.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check.