Apple Stock Gets Mixed Messages; Coach Gets a Fresh 'Buy' Rating

Delta Air Lines stock saw its price target raised ahead of the company's Wednesday morning earnings report

Jul 11, 2017 at 9:39 AM
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Analysts are weighing in on iPhone parent Apple Inc. (NASDAQ:AAPL), airline name Delta Air Lines, Inc. (NYSE:DAL), and retail stock Coach Inc (NYSE:COH). Here's a quick roundup of today's bullish brokerage notes on shares of AAPL, DAL, and COH.

Deutsche Bank Boosts Apple Stock Price Target

Deutsche Bank raised its price target on AAPL to $132 from $130. Nevertheless, this still represents a steep discount to last night's close at $145.06, as the brokerage firm warned that expectations are too high heading into the next iPhone cycle. While Apple shares are trading down 0.3% at $144.55 this morning, they remain roughly 25% higher on the year, and are not far from their May 15 record high of $156.65.

Regardless of whether you're bullish or bearish on Apple, now's a good time to bet on the stock's near-term trajectory with options. The security's Schaeffer's Volatility Index (SVI) of 17% ranks in the 18th annual percentile, meaning low volatility expectations are currently priced into short-term AAPL options.

DAL Stock Receives Bullish Brokerage Note Ahead of Earnings

Ahead of Wednesday morning's earnings report, Delta Air Lines saw its price target raised to $54 from $52 at Imperial Capital, though this is still below Monday's settlement at $54.81. The stock has been rallying hard since taking a sharp bounce off its 200-day moving average in mid-April, up more than 25% to trade at $54.85 -- and fresh off yesterday's record high of $55.75.

DAL's surge has coincided with a sharp rise in short interest -- the bearish bets increased 26.5% in the most recent reporting period -- which speaks volumes to its underlying strength. This also points to ample sideline cash available to help boost the Delta Air Lines stock, should it continue to outperform.

MKM Partners Bullish on Coach Shares

Coach stock is down 0.2% at $47.57, even after MKM Partners initiated coverage with a "buy" recommendation. The luxury goods stock has stayed on a steady incline this year, using its 40-day moving average as support. Up more than 35% year-to-date, COH hit a two-year high of $47.87 July 7. COH's Schaeffer's Volatility Index (SVI) of 21% is in just the 6th percentile of its annual range, pointing to attractive short-term options premiums, from a historical volatility standpoint. Moreover, 16 of 21 analysts rate the stock a "buy" or better. 

 

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