BOX, OLLI, PANW Stocks Upgraded Today

Shares of Box and Ollie's Bargain Outlet are poised to hit new highs this morning

by Josh Selway

Published on Jun 1, 2017 at 9:21 AM

Analysts are weighing in on content collaboration specialist Box Inc (NYSE:BOX), retailer Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI), and cybersecurity stock Palo Alto Networks Inc (NYSE:PANW). Here's a quick roundup of today's bullish brokerage notes on shares of BOX, OLLI, and PANW.

BOX Stock Eyes New Highs After Earnings

Box stock is up 6.5% ahead of the open, after the company posted better-than-expected first-quarter earnings. A handful of brokerages have since weighed in, with MUFG Securities upgrading the shares to "overweight" from "neutral," while also upping its price target to $23 from $17.50 -- representing all-time-high territory. BOX stock closed yesterday at $18.70, up 49% year-over-year, but short-term options traders were still unusually put-focused coming into the event. This is according to the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.99, which is an annual high. 

OLLI Stock Could Hit Record Highs After Earnings Beat

Ollie's Bargain Outlet stock is also set to rise after earnings, with the shares edging up 0.4% in pre-market trading. Several price-target hikes have come through, with Jefferies and Piper Jaffray setting the highest marks at $48. OLLI stock is a long-term outperformer, rallying 64.1% over the past 12 months to trade at $41.15, and the shares could now take aim at their record high of $42.60 from May 26. An unwinding of short interest could help the security climb the charts, too, since short sellers control more than 13 days' worth of buying power, based on average daily trading volumes. 

PANW Stock Set to Gap Higher After Results

Strong fiscal third-quarter earnings and a better-than-expected current-quarter outlook have Palo Alto Networks stock up 12.5% in electronic trading. Analysts are rushing to raise their outlooks, too. Stifel was one of several brokerages to raise its price target, predicting a move up to $180 -- representing a nearly 52% premium to last night's close at $118.59. While today's pre-market move would put PANW stock back in positive territory on a year-to-date basis, it would still leave the shares just shy of their 200-day moving average. Still, this could be a good day for Palo Alto options traders, who've continued to target calls over puts. For instance, PANW has a 50-day call/put volume ratio of 1.88 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which tops three-fourths of readings from the past year. 

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