Schaeffer's Trading Floor Blog

Analyst Upgrades: Micron Technology, Inc., Apple Inc. (AAPL), and First Solar, Inc.

Analysts upwardly revised their ratings on MU, AAPL, and FSLR

by 4/4/2014 9:21 AM
Stocks quoted in this article:

Analysts are weighing in today on semiconductor concern Micron Technology, Inc. (NASDAQ:MU), tech heavyweight Apple Inc. (NASDAQ:AAPL), and alternative energy provider First Solar, Inc. (NASDAQ:FSLR). Here's a quick roundup of today's bullish brokerage notes.

  • Brokerage firms were quick to weigh in on MU after the company posted a second-quarter earnings win and an optimistic outlook for the memory industry last night. Among the bullish crowd were Jefferies and UBS, which both lifted their price targets by $2 to $32 and $30, respectively. On the charts, Micron Technology, Inc. boasts an impressive 12-month gain of 157.8% to trade at $24.00, and is poised to advance further out of today's gate. Nevertheless, short-term option players are more put-heavy than usual toward MU right now, as the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.79 ranks higher than 89% of comparable readings from the past year. Should these bearish bettors hit the exits in the near term, MU shares could receive an additional boost on the charts.

  • AAPL -- which has tacked on just 1.4% over the past month to trade at $538.79 -- received a $5 price-target hike to $565 at BMO this morning. Currently, Apple Inc.'s SOIR of 0.83 ranks just 1 percentage point from a 12-month peak, with put open interest (relative to call open interest) nearing annual-high levels among options expiring within the next three months.

  • Citigroup raised its price target on FSLR to $87 from $63 earlier today, which isn't surprising considering the shares have rallied 18.9% from their March 18 closing price of $57.56 to trade at $68.46. Elsewhere, brokerage firms have held on to their less-optimistic positions on First Solar, Inc. Not only do 11 of the 14 covering analysts maintain "hold" or worse suggestions, but the average 12-month price target of $60.57 denotes an 11.5% discount to the stock's current price.

permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.