Amazon, Deutsche Bank, AK Steel Upgraded

Amazon, Deutsche Bank, and AK Steel stocks are on analysts' bullish radar today

Apr 24, 2017 at 9:24 AM
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Analysts are weighing in on FANG stock Amazon, bank concern Deutsche Bank AG (USA) (NYSE:DB), and steel specialist AK Steel Holding Corporation (NYSE:AKS). Here's a quick roundup of today's bullish brokerage notes on AMZN stock, DB stock, and AKS stock.

Analysts Applaud AMZN Stock Ahead of Earnings 

Instinet, Goldman Sachs, and Wedbush all raised their price targets on AMZN stock, placing them at record-high levels. Wedbush set the loftiest goal of all, at $1,250, citing expectations of "substantial earnings growth." Amazon stock ended last week at $898.53, up nearly 20% so far in 2017, and another big move could be in store following this Thursday night's earnings report. As the shares have risen, short sellers have been turning tail. During the last two reporting periods, short interest on AMZN stock fell almost 20%, and currently accounts for just 1.2% of its total float. Ahead of the opening bell, Amazon shares are up 1.1%.

Deutsche Bank Stock Set to Gap Higher

DB stock is pointed 10% higher in electronic trading, following a round of upbeat brokerage notes. Specifically, Macquarie boosted its rating to "outperform" from "underperform," while Kepler Cheuvreux re-initiated its "buy" opinion, saying, "We expect Deutsche Bank to revive its global franchise based on both macro-economic improvements, especially the next round of asset rotation and specific actions." These positive notes are apparently overshadowing a price-target reduction at J.P. Morgan Securities. On the charts, Deutsche Bank AG shares have been less than impressive, up just 2% year-to-date at $16.72. Meanwhile, short sellers have been aggressively betting on losses, ahead of Thursday morning's earnings report. Specifically, short interest on DB stock spiked over 49% in the two most recent reporting periods, and now sits at 42 million shares.

AK Steel Stock Upgraded Despite Recent Woes

AKS shares are up 3% in pre-market trading, after Macquarie upped its rating to "outperform" from "neutral," and lifted its price target to $8.10 from $7.30. The bullish note hits the Street just ahead of AK Steel Holding Corporation earnings, due out tomorrow morning. Technically speaking, the stock has had a rough ride since topping out at $11.39 in early December, settling at $6.72 on Friday. But AKS options traders have kept the faith. The shares sport a 10-day call/put volume ratio of 13.20 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- in the 84th annual percentile.


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