Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc. (AAPL), Tesla Motors Inc (TSLA), and Cisco Systems, Inc.

Analysts upwardly revised their ratings on AAPL, TSLA, and CSCO

by 7/1/2013 9:03 AM
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Analysts are weighing in today on tech giant Apple Inc. (NASDAQ:AAPL) electric vehicle maker Tesla Motors Inc (NASDAQ:TSLA), and networking issue Cisco Systems, Inc. (NASDAQ:CSCO). Here's a quick roundup of today's bullish brokerage notes.

  • Despite a year-to-date loss of more than 25%, AAPL was upgraded to "strong buy" from "outperform" at Raymond James today, amid reports that the company has applied for a trademark for "iWatch" in Japan. However, Apple Inc. is no stranger to bullish attention from the brokerage bunch. The stock currently boasts 24 "strong buys" and five "buy" endorsements, compared to nine "holds" and not a single "sell" suggestion. What's more, the security's average 12-month price target of $538.74 reflects expected upside of about 35.9% from Friday's closing price of $396.53. In other words, a round of downgrades and/or price-target cuts could be in the cards for AAPL.

  • TSLA -- which has more than tripled in value this year alone to trade at $107.36 -- saw its price target lifted to $130 at Jefferies this morning, which is a contrast to Friday's analyst attention. Meanwhile, sentiment in the near-term options pits has been bearishly skewed toward Tesla Motors Inc. The stock's Schaeffer's put/call open interest ratio (SOIR) checks in at 1.75, indicating puts nearly double calls among options scheduled to expire within the next three months. In fact, this ratio is just 4 percentage points shy of a yearly peak, signaling short-term options players have rarely been more put-heavy toward the equity during the last 12 months.

  • Up nearly 42% on a year-over-year basis to wink at the $24.17 level, CSCO scored a price-target hike to $28 from $25 at Piper Jaffray ahead of the open. The stock has also outperformed the broader S&P 500 Index (SPX) by north of 17 percentage points during the past two months, yet put players continue to favor Cisco Systems, Inc. The security's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.66 ranks higher than 82% of similar readings taken within the last 52 weeks, signaling traders have picked up puts over calls at a faster clip just 18% of the time during the past year.

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