Schaeffer's Trading Floor Blog

Analyst Upgrades: Tesla Motors Inc (TSLA), Facebook Inc (FB), and QUALCOMM, Inc. (QCOM)

Analysts upwardly revised their ratings on TSLA, FB, and QCOM

by 10/15/2013 9:23 AM
Stocks quoted in this article:

Analysts are weighing in today on electronic vehicle maker Tesla Motors Inc (NASDAQ:TSLA), social networking site Facebook Inc (NASDAQ:FB), and tech concern QUALCOMM, Inc. (NASDAQ:QCOM). Here's a quick roundup of today's bullish brokerage notes.

  • TSLA -- which has soared roughly 558% during the past year -- was upgraded to "outperform" from "neutral," and saw its price target lifted to $240 at Wedbush Securities, after the auto concern raised its unit expectations for 2017 by 50%. However, there is still plenty of doubt lingering among the brokerage bunch. Tesla Motors Inc maintains six "buy" or better ratings, compared to six "holds" and one "sell" suggestion. What's more, the stock's average 12-months price target of $164.82 denotes a discount to yesterday's closing price of $179.72. In other words, further upgrades and/or price-target boosts could be on the horizon for TSLA.

  • Up close to 154% on a year-over-year basis to wink at the $49.51 level, FB scored a price-target hike to $60 from $45 at Evercore Partners, following yesterday's acquisition news. The security has outperformed the broader S&P 500 Index (SPX) by nearly 89 percentage points during the most recent three-month time frame, yet skepticism continues to grow toward Facebook Inc. Short interest soared by more than 70% over the last two reporting periods, bringing the number of shorted shares to about 40 million. This ample amount of sideline cash could trigger a short-squeeze situation, should the equity continue along its upward trajectory.

  • Stifel Nicolaus initiated coverage of QCOM with a "buy" recommendation this morning, which could help add to the stock's year-to-date advance of 9.5%. Meanwhile, QUALCOMM, Inc. -- currently docked at $67.75 -- sports a 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.72, confirming calls bought to open have nearly quadrupled puts during the past two weeks. This ratio ranks in the 80th percentile of its annual range, signaling speculators have been scooping up bullish options over bearish at a faster-than-usual pace.

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