Schaeffer's Trading Floor Blog

Analyst Upgrades: SunPower Corporation, Tesla Motors Inc (TSLA), and T-Mobile US Inc

Analysts upwardly revised their ratings on SPWR, TSLA, and TMUS

by 8/1/2014 9:00 AM
Stocks quoted in this article:

Analysts are weighing in today on solar concern SunPower Corporation (NASDAQ:SPWR), electric automaker Tesla Motors Inc (NASDAQ:TSLA), and telecom name T-Mobile US Inc (NYSE:TMUS). Here's a quick roundup of today's bullish brokerage notes.

  • SPWR reported second-quarter earnings and announced plans for a new factory last night, and was met with a pair of bullish brokerage notes this morning. Specifically, Brean Capital upgraded the stock to "buy" from "hold," and RBC upped its price target to $36 from $35, to go along with a "sector perform" rating. SunPower Corporation has had a solid year, tacking on 23.2% in 2014 to trade at $36.73, and if it continues to muscle higher, additional upgrades could be on the way. Specifically, six out of 10 covering analysts give the shares a tepid "hold" recommendation (compared to four "strong buys").

  • TSLA also entered the earnings confessional yesterday afternoon and topped expectations. What's more, the shares subsequently saw their price target raised to $170 from $163 at J.P. Morgan Securities, and are trading higher in pre-market activity. On a longer-term basis, Tesla Motors Inc has fared well, advancing more than 48% year-to-date to hover near $223.30. Nevertheless, skepticism abounds toward the equity, as more than one-quarter of TSLA's float is sold short. Should the stock keep driving higher, a short-squeeze situation could materialize.

  • Finally, TMUS grabbed headlines yesterday, with the big news being a buyout offer from French telecom name Iliad SA. These developments are being applauded on the Street, where T-Mobile US Inc has received price-target hikes from J.P. Morgan Securities (to $40 from $36) and Nomura (to $32 from $30). From a broader perspective, however, the brokerage bunch is mixed toward the equity. Nine covering analysts have given TMUS a "buy" or better endorsement, whereas eight have doled out either a "hold" or "sell" rating. Plus, the consensus 12-month price target of $35.21 is less than 7% from the stock's current perch at $32.94.

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