Schaeffer's Trading Floor Blog

Analyst Upgrades: Tesla Motors Inc (TSLA), Lululemon Athletica inc., and Hewlett-Packard Company

Analysts upwardly revised their ratings on TSLA, LULU, and HPQ

by 2/18/2014 9:18 AM
Stocks quoted in this article:

Analysts are weighing in today on electric car manufacturer Tesla Motors Inc (NASDAQ:TSLA), yoga apparel maker Lululemon Athletica inc. (NASDAQ:LULU), and technology expert Hewlett-Packard Company (NYSE:HPQ). Here's a quick roundup of today's bullish brokerage notes.

  • Baird and Litchfield Hills upped their price targets on TSLA to $215 from $187, and to $222 from $188, respectively, ahead of the company's turn on the earnings stage after tomorrow's close. It's no secret Tesla Motors Inc is a technical powerhouse, having tacked on 435.2% over the past 12 months to perch at $198.23. Not to mention, the stock broke through the round-number $200 mark for the first time ever last week. With that being said, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.96 ranks 9 percentage points from an annual low, indicating short-term speculators have rarely been more call-heavy toward TSLA during the past year.

  • Following LULU's five-day uptick of 7.7% to $51.05, Oppenheimer upgraded the stock to "outperform" from "perform" this morning. Meanwhile, short interest on Lululemon Athletica inc. grew 7.1% in the latest reporting period, and now accounts for 16.1% of the equity's available float. It would currently take one week to cover these bearish bets, at LULU's average pace of trading.

  • Ahead of its fiscal first-quarter earnings report Thursday evening, HPQ received another positive brokerage note, as Brean increased its price target for the stock to $34 from $32 this morning. Technically speaking, Hewlett-Packard Company tagged a two-year high of $30.13 on Friday, and now sports a year-over-year gain of 78.8% at $30.02. Still, 13 of the 18 covering analysts maintain skeptical "hold" or worse ratings, and the stock's average 12-month price target of $29.71 denotes a slight discount to Friday's closing price.

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