Netflix, Cabela's, Stratasys Upgraded

Netflix stock, Cabela's stock, and Stratasys stock are on analysts' bullish radar today

Apr 18, 2017 at 9:24 AM
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Analysts are weighing in on streaming entertainment issue Netflix, Inc. (NASDAQ:NFLX), retail stock Cabela's, and 3-D printing specialist Stratasys, Ltd. (NASDAQ:SSYS). Here's a quick roundup of today's bullish brokerage notes on shares of NFLX, CAB, and SSYS.

Netflix Scores Post-Earnings Price-Target Hikes

Just a day after closing near a record high at $147.25, NFLX is set to explore uncharted waters, up 0.9% pre-market. This, after last night's earnings beat was met with price-target hikes to $73 and $170 at Wedbush and Stifel, respectively. Despite being strong on the charts, Netflix, Inc. options traders remain committed to puts over calls. The shares sport a Schaeffer's put/call open interest ratio (SOIR) of 1.26 -- just 7 percentage points from an annual peak. From a contrarian perspective, an unwinding of this negativity could create tailwinds for NFLX stock.

CAB Stock Set to Soar on Bass Pro Shops Buyout

CAB shares are pointed 7.1% higher in electronic trading, after the retailer agreed to be acquired by Bass Pro Shops for $5 billion -- a $500 million discount to the previously agreed-upon price. D.A. Davidson and Stifel responded by lifting their respective price targets to $61 and $59, both significantly higher than last night's close at $53.69. Cabela's options traders could cash in on the expected bull gap. After all, call buying has been picking up in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CAB stock has amassed a 10-day call/put volume ratio of 6.50, outstripping 83% of readings from the past 12 months.

Bullish Note Bolsters Stratasys Stock

SSYS is up 5.2% ahead of the opening bell, after Piper Jaffray upgraded the stock's rating to "overweight" from "neutral," and raised its price target to $28 from $21 -- in annual-high territory. Longer term, Stratasys, Ltd. shares have been heating up in 2017, up 29% at $21.30, and a round of short-covering could catalyze their ascent. Specifically, about one-tenth of SSYS's float is sold short, representing nearly two weeks' worth of pent-up buying power, at typical daily trading volumes.

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