Schaeffer's Trading Floor Blog

Analyst Downgrades: Tesla Motors Inc (TSLA), J.C. Penney Company, Inc., and First Solar, Inc.

Analysts downwardly revised their ratings on TSLA, JCP, and FSLR

by 2/19/2014 9:35 AM
Stocks quoted in this article:

Analysts are weighing in today on electric car manufacturer Tesla Motors Inc (NASDAQ:TSLA), department store chain J.C. Penney Company, Inc. (NYSE:JCP), and alternative energy concern First Solar, Inc. (NASDAQ:FSLR). Here's a quick roundup of today's bearish brokerage notes.

  • FBR initiated coverage on TSLA with a "market perform" rating, ahead of the company's fourth-quarter earnings announcement tonight. Yesterday, meanwhile, the stock received a couple of bullish brokerage notes, which sent the shares to their highest point yet, at $206.00. Options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have also been betting bullishly on Tesla Motors Inc during the past 10 weeks. The equity's 50-day call/put volume ratio of 1.77 is just 10 percentage points shy of a 12-month peak, showing the recent rate of call buying, relative to put buying, is nearing annual-high levels. At last check, TSLA was trading 1.20% lower out of the gate at $201.33.

  • This morning, Citigroup joined the majority of brokerage firms covering JCP by initiating a "neutral" rating on the stock. To be specific, 11 of the 20 analysts weighing in have dished out "hold" suggestions, while six maintain "strong sell" ratings, and just three have endorsed the stock as a "strong buy." Meanwhile, the consensus 12-month price target comes in at $7.69, representing expected upside of 25.9% from the stock's current price. Since bottoming at an all-time low of $4.90 on Feb. 5, the stock has been making headway toward the brokers' average price target, tacking on 24.7% to trade at $6.11.

  • Finally, FBR offered up an initial rating of "market perform" for FSLR this morning. While the stock sports a 12-month gain of 56.4% to perch at $56.36, short interest increased 18.6% during the last two reporting periods, now accounting for a lofty 16.4% of the equity's float. It would take nearly four sessions to cover these bearish bets, at First Solar, Inc.'s average daily volume.

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