NetApp, Plug Power, Wynn Resorts Upgraded

NetApp, Plug Power, and Wynn Resorts stocks are on analysts' bullish radar today

Apr 6, 2017 at 10:05 AM

Analysts are weighing in on data storage specialist NetApp Inc. (NASDAQ:NTAP), energy stock Plug Power Inc (NASDAQ:PLUG), and casino operator Wynn Resorts, Limited (NASDAQ:WYNN). Here's a quick roundup of today's bullish brokerage notes on shares of NTAP, PLUG, and WYNN.

NetApp Receives Well-Deserved Bullish Notes

NTAP received an upgrade to "market perform" from "underperform" at JMP following yesterday's analyst day. In addition, Morgan Stanley, UBS, and Credit Suisse raised their price targets on the stock, boosting it 0.5% to $41.10 this morning. Year-over-year, NetApp Inc. shares have now advanced 60%. More positive brokerage attention could be just around the corner, too. Despite the stock's huge long-term gains, NTAP has received just five "buy" or better ratings, outweighed by 16 "holds" and three "strong sell" opinions.

Plug Power Pulls Back, Despite Price-Target Hike

Just a day after leaping on a potential tie-up with Amazon, PLUG is 2.1% lower at $2.20. Today's negative price action comes even after the stock received a price-target hike to $3 from $1.75 at Cowen, marking territory not charted in over two years. Plug Power Inc stock remains up 49% week-to-date, though, which could encourage short sellers to jump ship. Specifically, 21.3% of the equity's float is dedicated to short interest, which would take two weeks to cover, at PLUG's average daily volume.

Options Traders Upbeat Toward Red-Hot Wynn Resorts Stock

WYNN is up 1% at $117.83, and just a chip-shot from Monday's roughly two-year high of $119.80. Fanning the stock's bullish flames is Morgan Stanley's upward price-target revision, to $124 from $119 -- territory not charted since April 2015. Wynn Resorts, Limited shares have had a phenomenal run in 2017, advancing almost 36%. This helps explain why options traders are so bullish on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). During the past two weeks, speculators have bought to open 18,553 WYNN call options, doubling the 9,238 puts purchased.

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