NVDA stock will be in focus ahead of earnings this week
Analysts are weighing in on chip name NVIDIA Corporation (NASDAQ:NVDA), food delivery service GrubHub Inc (NYSE:GRUB), and UGG maker Deckers Outdoor Corp (NYSE:DECK). Here's a quick roundup of today's bullish brokerage notes on shares of NVDA, GRUB, and DECK.
NVDA Stock Flirts With Record Highs Ahead Of Earnings
NVDA stock is up 1.4% to trade at $169.59, after B. Riley raised its price target on the chipmaker to $200 from $135 -- in uncharted territory. NVIDIA stock is up 190% year-over-year, and touched a record high of $170.07 on Friday. The shares could be poised for higher highs later this week following the company's earnings release on Thursday.
Analysts are decidedly split over NVDA stock. Of the 27 brokerages covering NVDA, 11 still rate it a "hold" or worse, leaving the door open for upgrades that could send the shares even higher.
Upgrade Sends GrubHub Stock to New Highs
GrubHub stock is up 3.9% to trade at $54.63 -- and just touched an all-time high of $55.65 -- after Morgan Stanley upgraded the food delivery stock to "overweight" from "equal weight," while also upping its price target to $59 from $43. The upgrade comes fresh off the heels of GrubHub's earnings release last week, and plans to buy
Yelp's Eat 24 business. GRUB stock has tacked on 45% year-to-date.
Despite short interest decreasing by 3.8% during the last reporting period, over 18 million shares of GRUB are sold short, accounting for a whopping 30% of the stock's total available float. A continued short squeeze could send GRUB stock to new heights, as it would take more than 12 sessions to buy back these bearish bets, at the equity's average pace of trading.
Deckers Stock Edges Higher After Price-Target Boost
Deckers Outdoor stock is up 0.2% to trade at $64.26, after Morgan Stanley raised its price target to $61 from $59 -- however, the new target still represents a discount to DECK's current price. The shares have pulled back 11.6% since peaking at $72.71 in early June, but have found support lately at their 80-day moving average, which is now in the vicinity of Deckers' post-earnings
bull gap in May. Analysts remain on the fence, however. Of the 12 brokerages covering DECK stock, nine rate it a "hold."