Schaeffer's Trading Floor Blog

Analyst Upgrades: First Solar, Coinstar, and OpenTable

Analysts upwardly revised their ratings on FSLR, CSTR, and OPEN

by 12/12/2012 9:07 AM
Stocks quoted in this article:

Analysts are weighing in today on alternative energy concern First Solar, Inc. (NASDAQ:FSLR - 31.08), automated kiosk provider Coinstar, Inc. (NASDAQ:CSTR - 50.81), and restaurant reservation website OpenTable Inc (NASDAQ:OPEN - 46.94). Here's a quick roundup of today's bullish brokerage notes.

  • FSLR -- which has gained more than 15% so far this month -- saw its price target lifted to $28 from $21 at Susquehanna this morning. The shares have also outperformed the broader S&P 500 Index (SPX) by nearly 40 percentage points during the past 40 days. Nevertheless, bearish speculation remains alive and well on FSLR. Short interest accounts for a whopping 44% of the equity's available float. It would take nearly six sessions to unwind these pessimistic bets, at the stock's average pace of trading. From a contrarian perspective, the security could end up reaping the benefits of a short-covering rally down the road.

  • Up more than 4% in pre-market trading, CSTR was upgraded to "outperform" from "market perform" at Northland Capital today, amid reports that the company has partnered with Verizon Communications Inc. (NYSE:VZ) to launch Redbox Instant by Verizon. CSTR has climbed roughly 15% during the past year, yet near-term puts outstrip calls, as evidenced by the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.12. This ratio is just four percentage points shy of a bearish peak, meaning short-term options players have rarely been more put-heavy toward the equity during the last 12 months.

  • OPEN was started with an "overweight" endorsement at J.P. Morgan ahead of the bell, which could help add to the stock's year-to-date gain of about 20%. Meanwhile, traders have been showing a preference for calls over puts lately. The equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio stands at 2.00, indicating calls bought to open have doubled puts during the last two weeks. This ratio ranks higher than 69% of comparable readings taken within the past year, reflecting a stronger-than-usual appetite for calls over puts.

permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.