FedEx, Snap, Urban Outfitters Stock Upgraded

Analysts are weighing in on delivery specialist FedEx Corporation (NYSE:FDX), Snapchat parent Snap Inc (NYSE:SNAP), and retailer Urban Outfitters. Here's a quick roundup of today's bullish brokerage notes on shares of FDX, SNAP, and URBN stock.

Higher Margins Could Fuel FedEx Stock 

FDX stock is set to open almost 3% higher, even though the company's fiscal third-quarter earnings missed estimates. Providing the pre-market lift is FedEx Corporation's expectation of higher margins in the coming quarters. Analysts are providing positive feedback, with J.P. Morgan Securities one of several brokerages to raise its price target, eyeing a move up to $236 -- record-high territory, and a 23% premium to last night's close of $191.84. FDX shares have already added roughly 18% year-over-year, but short interest has been ticking higher, increasing 18% in the last two reporting periods alone. 

Snap Stock Snags Second "Buy" Rating

Bullish analysts are once again weighing in on SNAP stock, with Drexel Hamilton initiating coverage with a "buy" rating and $30 price target. Analysts added, "We view Snap as a platform for the imagination that unlocks the creativity of its users and allows uninhibited expression with friends." The shares will now try to unlock some gains, adding 1.9% ahead of the open, after finishing Tuesday at $20.38. Snap Inc tagged a record high of $29.44 on March 3, it's second day of trading, while falling as low as $18.90 last Friday. 

URBN Stock Gets an Upgrade, Despite Technical Woes

URBN shares yesterday hit an annual low of $22.16 before closing at $22.58, and have now lost almost 45% since their November high of $40.80. Still, KeyBanc is staying optimistic, upgrading the retail stock to "overweight" from "sector weight." This upbeat outlook does not appear to be shared by URBN options traders. Urban Outfitters has a Schaeffer's put/call open interest ratio (SOIR) of 4.20. Not only does this mean put open interest is four times that of call open interest among options expiring within three months, but this reading is an annual high, revealing the highest put-skew in the past 52 weeks on URBN stock.