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Analyst Upgrades: Plug Power Inc, SINA Corp, and Weibo Corp (ADR)

Analysts issued bullish notes on PLUG, SINA, and WB

by 8/15/2014 9:00 AM
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Analysts are upwardly revising their ratings today on fuel-cell specialist Plug Power Inc (NASDAQ:PLUG), online media company SINA Corp (NASDAQ:SINA), and Beijing-based microblogging platform Weibo Corp (ADR) (NASDAQ:WB). Here's a quick look at today's bullish brokerage notes on PLUG, SINA, and WB.

  • Roth Capital raised its price target on PLUG to $6.15 from $4.75, just one day after the alternative energy firm's second-quarter earnings sparked a single-day gain of 4.3%. However, this upwardly revised target implies expected upside of just $0.04 to PLUG's Thursday close at $6.11. Shares of Plug Power Inc are paring their post-earnings gains this morning, off 1.4% ahead of the bell. A rush to cover by short sellers could help the stock regain its bullish momentum; currently, 25% of PLUG's float is dedicated to short interest.

  • SINA last night topped second-quarter profit estimates, sending the stock up about 5% in pre-market action. The stronger-than-forecast showing by SINA Corp has elicited price-target hikes from Piper Jaffray (to $70 from $65) and Brean Capital (to $67 from $65). SINA closed Thursday's session at just $47.82, down 43.2% year-to-date -- but most analysts have expectations in the same bullish ballpark as Piper Jaffray and Brean. The stock's consensus 12-month price target is $69.94, in territory SINA hasn't explored since mid-March.

  • WB, which is majority-owned by SINA, has shed 4.5% in electronic trading after reporting an in-line second-quarter loss. Since April, the stock's rally attempts have repeatedly fizzled in the $20.50-$22.50 region, and WB closed Thursday at $21.46 -- squarely in the middle of this resistance zone. Meanwhile, quite a few bears are betting on Weibo Corp (ADR) to decline. Short interest rose by 18.6% during the past two reporting periods, and now represents 41.5% of the equity's float, or 5.5 times WB's average daily trading volume.

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