SBUX, SHAK, and GOLD Stocks Get Bull Notes

SBUX has enjoyed several bull notes this year

Jul 3, 2019 at 12:39 PM
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Stocks are on the rise ahead of the early close today for U.S. markets. Three names making notable moves in the abbreviated session are coffee giant Starbucks Corporation (NASDAQ:SBUX), burger chain Shake Shack Inc (NYSE:SHAK), and gold miner Barrick Gold Corp (NYSE:GOLD). Here's how the shares of SBUX, SHAK, and GOLD are trading.

Stifel Note Sparks Another High for SBUX

SBUX shares are trading at fresh record highs today thanks to yet another bull note. Stifel lifted its price target to $86 from $65, predicting strong same-store sales growth going forward. Starbucks stock was last seen trading up 2.4%, right near the all-time peak of $87.57 it just tagged. It's been in an almost nonstop uptrend during the past year, adding close to 80% in the past 12 months. In the options pits today, new positions are opening at the weekly 7/5 86- and 87-strike puts.

Option Bulls Target SHAK

Stifel also weighed in on SHAK stock, upping its price target by $10 to $60 -- though this is still well below today's trading price of $71.72. The shares hit an annual high of $73.11 on Monday, and have gained 58% year-to-date. Options traders have been betting bullishly in the meantime, with Shake Shack's 10-day call/put volume ratio at the

International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) coming in at 3.83. This reading ranks in the 93rd annual percentile, showing a stronger-than-usual demand for long calls over puts recently.

BMO Upgrades Rating on Barrick Gold Stock

GOLD shares are trading up 1.1% at $15.77, after BMO upgraded its opinion to "outperform" from "market perform," and moved its price target up to $20 from $14.50. Barrick hit a 52-week high of $16.45 on June 25, and sports a solid gain of 11% in 2019. Those wishing to speculate either way with options should know that the equity's Schaeffer's Volatility Index (SVI) of 27% ranks in the low 4th annual percentile, meaning near-term premiums appear muted at the moment.

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