Analysts upwardly revised their ratings and price targets on TSLA, KITE, and VJET
Analysts are weighing in on electric automaker Tesla Inc (NASDAQ:TSLA), drug stock Kite Pharma Inc (NASDAQ:KITE), and 3-D printing issue Voxeljet AG (ADR) (NYSE:VJET). Here's a quick roundup of today's bullish brokerage notes on shares of TSLA, KITE, and VJET.
Guggenheim Eyes Record Highs For Tesla Stock
TSLA produced a record 25,418 vehicles in the first quarter, prompting Guggenheim to up its target price to $320 -- uncharted waters for the stock, which settled Friday at $278.30. Ahead of the bell, Tesla Inc shares have added 3.6%, ready to build on their 30% year-to-date advance, and potentially topple their annual high of $287.39. Another round of upbeat analyst attention could bolster the stock's ascent. Thirteen of 16 brokerage firms rate TSLA stock a "hold" or worse, leaving plenty of room for upgrades.
Kite Pharma Wins a Pair of Price-Target Hikes
KITE is 5% higher pre-market, after Canaccord Genuity and Maxim Group hiked their respective price targets to $90 and $100. Both marks would represent all-time peaks for Kite Pharma Inc shares, which closed Friday at $78.49 -- up 71% year-over-year. The shares could also get a lift from upbeat non-Hodgkin lymphoma drug data, following the firm's Food and Drug Administration (FDA) submission for its CAR-T therapy. A gap higher at the open could batter bearish options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). During the past two weeks, KITE stock has amassed a top-heavy put/call volume ratio of 2.08 across those exchanges, in the pessimistically positioned 85th percentile of its annual range.
Citigroup Throws Support Behind Beaten-Down Voxeljet
Citigroup raised its rating on VJET to "buy" from "sell." This, despite the stock being down 56% year-over-year at $2.69, and fresh off Friday's post-earnings record low of $2.61. In electronic trading, Voxeljet AG shares have tacked on nearly 6%. This could have short sellers nervous, considering it would take close to three weeks to cover all the shorted VJET shares, based on the stock's average daily trading volume.