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Analysts are upwardly revising their ratings today on electric automaker Tesla Motors Inc (NASDAQ:TSLA), food and beverage giant PepsiCo, Inc. (NYSE:PEP), and pastry chain Krispy Kreme Doughnuts (NYSE:KKD). Here's a quick look at today's bullish brokerage notes on TSLA, PEP, and KKD.
- TSLA continues to attract positive attention from analysts, with Deutsche Bank upgrading the stock to "buy." Shares of Tesla Motors Inc are up 2.9% in pre-market trading, after closing Friday at $248.13 -- up nearly 65% year-to-date. The continued bullish momentum in TSLA could eventually force some of the bears into hitting the exits. Currently, 26.7% of the equity's float is sold short, representing 4.3 times TSLA's average daily trading volume.
- UBS upgraded PEP to "buy" from "neutral," and simultaneously increased its price target to $100 from $97. The new target implies expected upside of 10.8% from PepsiCo, Inc.'s Friday finish at $90.29. The shares have recently found support at their 50-day and 80-day moving averages, bringing their 2014 gain to nearly 9%. Most analysts are already bullish on PEP, as the stock boasts 69% "buy" ratings.
- KKD scored an upgrade to "outperform" from "neutral" at Wedbush, and the brokerage firm also increased its price target to $24 from $18. The upwardly revised target is in line with KKD's average 12-month price target of $23.83, which is 53.3% north of the stock's Friday close at $15.54. That's a fairly ambitious consensus forecast; KKD is off more than 19% year-to-date, and is currently pinned below resistance at its 40-day moving average. Looking ahead, Krispy Kreme Doughnuts is tentatively slated to report its fiscal second-quarter earnings during the final week in August.