More Analyst Love for Papa John's, Activision Blizzard Stocks

More analysts are jumping on the ATVI bandwagon

Sep 5, 2019 at 10:11 AM
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Papa John's International, Inc. (NASDAQ:PZZA) just received another positive analyst note, as Credit Suisse upgraded its stance to "outperform" from "neutral" and raised its price target to $56 from $45, citing confidence in the company's recent appointment of Rob Lynch as CEO. In response, PZZA shares are trading up 3.4% to $49.78, holding less than 4 points above the 200-day moving average.

As we noted yesterday, Wall Street is starting to identify a breakout for Activision Blizzard, Inc. (NASDAQ:ATVI), and more firms are getting behind the video game stock this morning. Stephens came in with an upgrade to "overweight" and a $13 price-target increase to $65, based on its view that recent game launches should provide tailwinds for the shares. ATVI stock was last seen up 4.6% at $55.97, as it nears the 320-day moving average for the first time since last November. The equity's up almost 25% since its Aug. 15 low of $44.91.

Another name on analysts' radar this morning is LYFT Inc (NASDAQ:LYFT). Deutsche Bank began coverage with a "buy" designation and $70 price target, and Citigroup upped its price target to $75 from $70. This comes a day after the stock hit an all-time low of $44.75, as it's dropped roughly 21% in just the past month.

LYFT options traders, meanwhile, will surely be keeping a close eye on the $70 as expiration approaches for the September series in the coming weeks. Peak open interest on the security is at the September 70 call and put, with the similar open interest at these strikes hinting at potential spread activity. LYFT shares were last seen up 2% at $47.32,


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