Schaeffer's Trading Floor Blog

Analyst Upgrades: Tesla Motors Inc (TSLA), Activision Blizzard, Inc., and First Solar, Inc.

Analysts upwardly revised their ratings on TSLA, ATVI, and FSLR

by 8/6/2014 9:06 AM
Stocks quoted in this article:

Analysts are weighing in today on electric car issue Tesla Motors Inc (NASDAQ:TSLA), video game maker Activision Blizzard, Inc. (NASDAQ:ATVI), and alternative energy concern First Solar, Inc. (NASDAQ:FSLR). Here's a quick roundup of today's bullish brokerage notes on TSLA, ATVI, FSLR.

  • In the wake of reports that TSLA has settled its trademark dispute in China, Pacific Crest started the stock with an "outperform" rating, and a price target of $316 -- representing expected upside of 32.5% from last night's close at $238.49. This upbeat outlook bucks the withstanding trend witnessed among the brokerage bunch, with no fewer than 58% of covering analysts maintaining a "hold" or "sell" suggestion toward the shares. Additionally, the average 12-month price target of $224.83 represents a discount to TSLA's present price. Should Tesla Motors Inc continue to add to its 58.5% year-to-date return, an additional round of upgrades and/or price-target hikes could help propel the shares higher.

  • ATVI's stronger-than-expected second-quarter earnings report was met with no fewer than seven price-target hikes, including those from Pacific Crest -- which boosted its target price by $6 to $27 -- and Piper Jaffray, which raised its price target by $1 to $27. Bullish brokerage attention is nothing new for a stock that's rallied 25.4% year-to-date to trade at $22.36. However, with Activision Blizzard, Inc.'s consensus 12-month price target of $24.52 perched less than 10% above current trading levels, additional price-target hikes could be on the horizon. Ahead of the bell, shares of ATVI are pointed 3% higher.

  • FSLR didn't fare as well in the earnings confessional, reporting an 87% drop in second-quarter profit due to project delays. Nevertheless, RBC raised its price target on the stock to $56 from $48, while Needham upped its outlook to "buy" from "hold." Put players were active on FSLR ahead of last night's quarterly results, and with the shares down more than 2% in pre-market trading, this bearish activity in FSLR's options pits could continue today. On the charts, though, First Solar, Inc. is up 16.5% year-to-date, with the shares last seen lingering near $63.66.

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