Analyst Update: Hawaiian Holdings, JA Solar, QLogic

Analysts adjusted their ratings on Hawaiian Holdings, Inc. (HA), JA Solar Holdings Co., Ltd. (ADR) (JASO), and QLogic Corporation (QLGC)

Jan 30, 2015 at 12:21 PM
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Analysts are weighing in today on Hawaiian Airlines parent Hawaiian Holdings, Inc. (NASDAQ:HA), alternative energy concern JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), and networking specialist QLogic Corporation (NASDAQ:QLGC). Here's a quick look at today's brokerage notes on HA, JASO, and QLGC.

  • Shares of HA are in free fall this morning, down over 26% to hit $19.59, following in-line fourth-quarter earnings and news that a key revenue measure for the company will decline in the first quarter. (However, the security is still up a staggering 92.8% on a year-over-year basis.) In response, Cowen and Company cut its price target to $24 from $27, while Deutsche Bank raised its price target to $31 from $27 while underscoring a "buy" rating. Meanwhile, bearish sentiment in Hawaiian Holdings, Inc.'s options pits is ramping up, with the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.58 resting in the 87th percentile of its annual range. The brokerage bunch is divided on the stock, with 43% rating it a "strong buy," and the remaining 57% doling out a "hold" rating.

  • On the other hand, JASO is up about 1.2% today to trade at $7.87, after RBC bumped its price target by $1 to $13 while upgrading the stock to "outperform" from "sector perform." Year-over-year, the equity has shed over 14% of its value. The brokerage bunch is still optimistic about JA Solar Holdings Co., Ltd. (ADR), though, with three out of four covering analysts rating the stock a "buy" or better. Even so, sentiment in the options pits is bearish, with JASO's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.97 sitting higher than all but 18% of similar readings taken in the last year. It is worth noting that near-term options for JASO are historically cheap, per its Schaeffer's Volatility Index (SVI) of 54%, which is in the 16th percentile of its annual range.

  • QLGC is also headed higher today, up roughly 3.4% to hit $13.12, while notching a two-year high of $14.20 along the way. Last night, QLogic Corporation released an impressive earnings report, prompting three brokerage firms to up their price targets on the stock. Specifically, RBC raised its price target to $15 from $13 while underscoring an "outperform" rating, BMO lifted its price target to $15.50 from $14.50 while upgrading its expectation to "outperform" from "market perform," and D.A. Davidson increased its price target to $18 while reiterating a "buy" recommendation. Despite the good news, sentiment in the options pits is bearish, with QLGC's Schaeffer's put/call open interest ratio (SOIR) of 0.60 sitting higher than 80% of all similar readings taken over the past year.

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