Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc. (AAPL), Twitter Inc, and SunPower Corporation

Analysts issued bullish notes on AAPL, TWTR, and SPWR

by 7/9/2014 8:37 AM
Stocks quoted in this article:

Analysts are upwardly revising their ratings today on iPad producer Apple Inc. (NASDAQ:AAPL), microblogging innovator Twitter Inc (NYSE:TWTR), and alternative energy issue SunPower Corporation (NASDAQ:SPWR). Here's a quick look at today's bullish brokerage notes on AAPL, TWTR, and SPWR.

  • Mizuho upped its price target on AAPL to $105 from $90 and backed its "buy" rating, with the newly revised forecast implying expected upside of more than 10% from Tuesday's close at $95.35. By comparison, most brokerage firms have very modest expectations for Apple Inc., as the stock's average 12-month price target weighs in at $96.91. However, the mood on Wall Street is far from gloomy -- AAPL still boasts 76% "buy" or better ratings.

  • Following yesterday's steep sell-off in the shares, Pivotal Research lifted its price target on TWTR to $37 from $34, but reiterated a tepid "hold" rating. Twitter Inc finished Tuesday at $37.41, bringing its year-to-date deficit to 41.2%. Short sellers appear to be driving the action in TWTR of late; short interest rose by 8.7% during the most recent reporting period, and now accounts for 6.6% of the stock's float.

  • Cowen and Company raised its price target on SPWR to $50 from $40 and backed its "outperform" recommendation, with the brokerage predicting upside of nearly 35% from yesterday's close at $37.06. SunPower Corporation tends to outperform during the month of July, and could be on the verge of a bounce. Amid Tuesday's broad-market pullback, SPWR met up with the $36 level -- a former layer of resistance that could now act as support to push the shares higher.

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