Stocks quoted in this article:
Analysts are upwardly revising their ratings today on banking giant Citigroup Inc (NYSE:C), alternative energy issue First Solar, Inc. (NASDAQ:FSLR), and satellite radio firm Sirius XM Holdings Inc. (NASDAQ:SIRI). Here's a quick look at today's bullish brokerage notes on C, FSLR, and SIRI.
- On the heels of Monday's earnings report, analysts are upping their price targets on C. Oppenheimer hiked its target to $68, UBS lifted its target to $61, and Societe Generale boosted its target to $53. Citigroup Inc shares last traded at $48.42, representing a roughly 17% discount to the stock's average 12-month price target of $58.25. C gapped higher yesterday as traders responded to its second-quarter earnings beat -- but the stock is now trading just below resistance at its 200-day moving average, which has acted as a ceiling since late January.
- J.P. Morgan Securities weighed in on a number of solar stocks this morning, and lifted its price target on FSLR to $76 from $75 along the way. The brokerage firm maintains an "overweight" rating on First Solar, Inc., which has rallied 15.8% in 2014 to trade at $63.27. Since October 2012, FSLR has been guided higher by support at its rising 10-month moving average. In light of the equity's long-term uptrend, additional bullish notes could be on the horizon; currently, only 38% of analysts have deemed FSLR worthy of a "buy" rating.
- SIRI garnered a price-target hike to $4.25 from $3.75 at Pivotal Research, with the firm backing its "buy" recommendation on the equity. The newly revised target implies expected upside of 25.4% to SIRI's Monday close at $3.39. It's been a rough year for shares of Sirius XM Holdings Inc., with the stock down 2.9% since the start of 2014. Nevertheless, most analysts expect SIRI to snap out of its doldrums and break out to new highs. Pivotal's freshly hiked forecast is right in line with the stock's consensus 12-month price target, which stands at $4.28 -- 2.4% above the multi-year high of $4.18 SIRI touched back in October 2013.