Analysts are weighing in on defense stock AeroVironment, Inc. (NASDAQ:AVAV), Samsung Electronics supplier Universal Display Corporation (NASDAQ:OLED), and retailer Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI). Here's a quick roundup of today's brokerage notes on shares of AVAV, OLED, and OLLI.
AeroVironment Soars After Encouraging Earnings Report
Aerovironment stock is up 14.5% to trade at $45.05 -- an annual high -- after the company reported better-than-expected quarterly results. The upbeat report prompted at least three brokerages to raise their price targets, including a hike to $40 from $35 at Canaccord Genuity. AVAV stock has had an excellent year, up 68%. Analysts remain skeptical, however. All five of the brokerages covering AVAV stock rate it a tepid "hold," suggesting there's potential for additional bullish brokerage attention in the near term.
Deutsche Bank Sets Lofty Target For Universal Display
Universal Display stock is up 5% to trade at $116.71, after Deutsche Bank initiated coverage with a "buy" rating, as well as a price target of $135. The new target implies expected upside of about 16% from OLED's current price, and stands in uncharted territory for the stock. The security has more than doubled year-to-date, and is now on pace to take back the all-important 50-day moving average.
Despite Universal Display's positive price action, short sellers continue to pile on. Short interest has increased by 15.8% during the last two reporting periods, and represents a healthy 8% of OLED's total available float.
OLLI Earnings Beat Prompts Round Of Price-Target Hikes
Ollie's Bargain Outlet stock is down 1% to trade at $43.00, despite reporting
sales and earnings above analyst expectations. As a result, no fewer than three brokerages raised their price targets, including to $50 from $48 at Jefferies. OLLI stock has added 66% year-over-year, and recently hit a record high of $46.08 on Aug. 1.
There is reason to believe the equity can rise even more. While short interest has decreased in recent weeks, it still represents 14% of Ollie's total available float. Furthermore, it would take more than 14 days for the shorts to fully cover their positions. This represents a major source of potential buying power that could provide OLLI with tailwinds.