Schaeffer's Trading Floor Blog

Analyst Upgrades: GT Advanced Technologies Inc, LinkedIn Corp, and SunEdison Inc

Analysts upwardly revised their ratings on GTAT, LNKD, and SUNE

by 8/26/2014 8:52 AM
Stocks quoted in this article:

Analysts are weighing in today on LED specialist GT Advanced Technologies Inc (NASDAQ:GTAT), professional networking name LinkedIn Corp (NYSE:LNKD), and solar issue SunEdison Inc (NYSE:SUNE). Here's a quick roundup of today's bullish brokerage notes on GTAT, LNKD, and SUNE.

  • GTAT has been a technical standout, more than doubling in value this year to rest at $17.93. In fact, during the last month, the shares have outperformed the broader S&P 500 Index (SPX) by nearly 29 percentage points. This on-chart strength may be what prompted Piper Jaffray to resume coverage of GT Advanced Technologies Inc with an "overweight" rating. A short-covering rally could be forthcoming, as well, as 35.5% of the stock's float is dedicated to short interest. At GTAT's average daily trading volume, it would take more than a week to cover these bearish bets.

  • LNKD has been on a tear recently, besting the SPX by close to 38 percentage points during the past 60 sessions. In fact, at $222.48, the shares are sitting nearly 64% higher from their annual low of $136.02, touched in early May. Elsewhere, First Analysis initiated coverage of LinkedIn Corp, handing out an "overweight" rating, along with a $280 price target. On the options front, however, sentiment is tilted in a bearish direction. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.14 ranks just 11 percentage points from an annual acme. A capitulation among these option bears could provide LNKD with a tailwind.

  • Finally, SUNE is up 72.5% in 2014 to trade at $22.51, ushered higher by its ascending 20-week moving average and recently boosted by a better-than-expected second-quarter earnings report. Accordingly, FBR upped its price target on the shares to $28 from $20, and affirmed its "outperform" opinion. This is business as usual for SunEdison Inc, as 80% of covering analysts have doled out "buy" or better recommendations, and the equity's consensus 12-month price target of $26.79 stands in territory not charted for more than five years.

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