BWLD, LVS, and STM stocks are volatile after earnings
Analysts are weighing in on restaurant chain Buffalo Wild Wings (NASDAQ:BWLD), casino stock Las Vegas Sands Corp. (NYSE:LVS), and semiconductor concern STMicroelectronics NV (NYSE:STM). Here's a quick roundup of today's bullish brokerage notes on shares of BWLD, LVS, and STM.
Buffalo Wild Wings Stock Pops on Big Earnings Beat
Buffalo Wild Wings stock is up a whopping 17.4% to trade at $118.75, after the restaurant reported better-than-expected third-quarter earnings and raised its full-year profit forecast. As a result, Dougherty upgraded BWLD to "buy" from "neutral," while at least six brokerage firms raised their price targets -- including a hike to $160 from $145 by Maxim, a 35% premium to current trading levels. BMO, on the other hand, cut its price target to $120 from $130.
Heading into today's trading, Buffalo Wild Winds shares were struggling, down 34.5% year-to-date, Not surprisingly, 14 of 19 analysts following the security rated it a lukewarm "hold" at last night's close.
Las Vegas Sands Stock Swings Lower After Earnings
Las Vegas Sands reported third-quarter earnings and revenue that topped forecasts, and said it plans to spend $1.1 billion in renovating its Macau properties. And while Morgan Stanley, Instinet, and Deutsche Bank upped their price targets, the latter two did so to $57 -- a discount to last night's close. This may be why LVS stock is down 2.5% this morning to trade at $61.35
Nevertheless, LVS shares remain up 15% year-to-date, and short sellers have started throwing in the towel. Short interest on the security fell 6.1% in the two most recent reporting periods to 7.71 million shares, the fewest since mid-August.
Strong Earnings Sends STMicroelectronics Stock To Multi-Year High
STMicroelectronics stock is up 8.1% at $22.60, and hit a 13-year high of $22.80 earlier, after the company posted a third-quarter earnings beat and raised its full-year outlook. What's more, Craig-Hallum raised its price target to $26 from $21 -- territory not charted since March 2004.
STM shares have now nearly doubled in value in 2017, and a short squeeze could fuel the stock's fire. Short interest on the security grew 7.3% during the past two reporting periods to 7.42 million shares -- the most since mid-March.