Analysts upwardly revised their ratings and price targets on Applied Materials, Inc. (AMAT), Ross Stores, Inc. (ROST), and Mobileye NV (MBLY)
Analysts are weighing in on semiconductor stock
Applied Materials, Inc. (NASDAQ:AMAT), retail stock
Ross Stores, Inc. (NASDAQ:ROST), and automotive tech expert
Mobileye NV (NYSE:MBLY). Here's a quick roundup of today's bullish brokerage notes on AMAT, ROST, and MBLY.
- An impressive fiscal third-quarter earnings report has bullish analyst notes pouring in on AMAT. Among those that raised their price targets on the stock was B. Riley, which set its mark at $39 -- territory not seen in roughly 16 years. Applied Materials, Inc. has since added 3.6% to trade at $28.69, bringing its year-to-date gain to nearly 54%, and putting the stock on pace for its fourth straight post-earnings win. Plus, the shares earlier hit a 15-year peak of $29. Options traders appear well-positioned for today's upside move, too. Specifically, AMAT's Schaeffer's put/call open interest ratio (SOIR) sits at 0.55, meaning call open interest among options expiring within three months nearly doubles put open interest.
- ROST is also surging in light of a strong earnings report, last seen 4.6% higher at $65.75, and earlier hitting a record peak of $65.93. A number of brokerage firms have since raised their price targets, with SunTrust Robinson setting the highest mark at $75. There's a chance additional bullish notes will lift Ross Stores, Inc. even higher, as almost half of covering analysts rate the stock a "hold" or a "strong sell" -- surprising, given ROST's 22% advance in 2016.
- Finally, MBLY has been unable to take advantage of bullish analyst attention from Evercore ISI, which reiterated its "buy" rating after Volvo and Uber announced a partnership centered on self-driving cars. Most analysts are already bullish on Mobileye NV, but short interest is extremely elevated. By the numbers, over 18% of MBLY's float is sold short, equating to more than a week's worth of buying power, going by the stock's average daily volumes. As alluded to, MBLY was last seen 0.4% lower at $45.86, though its rising 60-day moving average remains underfoot as potential support.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check