Take-Two Interactive, Coherent Stocks Hit Record Highs After Earnings

TTWO, HALO, and COHR are all set for big post-earnings moves

by Josh Selway

Published on Nov 8, 2017 at 9:34 AM

Analysts are weighing in on Grand Theft Auto parent Take-Two Interactive Software, Inc. (NASDAQ:TTWO), biotech Halozyme Therapeutics, Inc. (NASDAQ:HALO), and photonics stock Coherent, Inc. (NASDAQ:COHR). Here's a quick roundup of today's bullish brokerage notes on shares of TTWO, HALO, and COHR.

TTWO Shares Set for Record Highs After Earnings

Better-than-expected fiscal second-quarter sales and a strong holiday season outlook has Take-Two Interactive stock 12.3% higher out of the gate at $119.56 -- a new record high. At least four price-target hikes came through, too, including Jefferies' increase to $140 from $123.

Heading into today's trading, TTWO shares were already boasting a year-to-date advance at almost 116%. Short-term options traders have seemingly been expecting more upside, too. The security has a Schaeffer's put/call open interest ratio (SOIR) of 0.37, ranking in the 27th annual percentile, pointing to a heavy call-skew among options expiring within three months.

Halozyme Therapeutics Crushes Short Sellers with Strong Earnings

Halozyme Therapeutics last night reported a top- and bottom-line beat, and BMO and Canaccord Genuity responded with price-target increases to $18 and $19, respectively. The shares have opened 6% higher to trade at $17.58, which has them flirting with the $18 area, a level that's recently acted as a technical ceiling. Still, HALO stock touched a roughly two-year high of $18.43 last month, and came into today's trading up almost 90% during the past 12 months.

More upside could drive Halozyme short sellers to the exits. These bearish bets account for nearly 13% of the equity's float, or 13 times its average daily volume. This is even after a 32.7% plunge over the past two reporting periods. A continuation of this short-covering trend could result in tailwinds.

Coherent Stock on Pace for Record Highs After Earnings

As of last night's close at $265.37, Coherent stock had already more than doubled during the past 12 months, touching a record high of $281 on Sept. 19. The shares are now up another 13.9% at $303.85 this morning -- a fresh record high -- after the company last night reported an earnings and revenue beat for the fiscal fourth-quarter. This was followed up by at least four price-target hikes, including Susquehanna's new $355 price target, which represents upside of almost 34% to Tuesday's settlement.

Short sellers have been on the wrong side of this trade. Short interest jumped 15.7% in the most recent reporting period to 1.97 million shares -- the most in nearly eight years. It would take almost a week to cover these shares, at the average pace of trading, pointing to plenty of sideline cash available to help fuel COHR stock's surge.


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