Analyst Upgrades: JCPenney, First Solar, and ACADIA

Analysts upwardly revised their ratings on J C Penney Company Inc (JCP), First Solar, Inc. (FSLR), and ACADIA Pharmaceuticals Inc. (ACAD)

Feb 24, 2015 at 9:20 AM

Analysts are weighing in today on department store chain J C Penney Company Inc (NYSE:JCP), alternative energy issue First Solar, Inc. (NASDAQ:FSLR), and drugmaker ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Here's a quick roundup of today's bullish brokerage notes on JCP, FSLR, and ACAD.

JCP is pointed 1.5% higher ahead of the open, after Piper Jaffray underscored the stock's status as a "Top Pick for 2015," along with an "overweight" rating and $12 price target. The bullish note comes as little surprise, considering J C Penney Company Inc has advanced 30.7% year-to-date to trade at $8.47. Options traders are in the bulls' corner, as well. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 4.65 ranks just 4 percentage points from a 12-month high. Looking ahead, JCP will report fourth-quarter earnings Thursday evening, and the Street is looking for a per-share profit of 11 cents.

FSLR, which will step into the confessional tonight, is up 15% ahead of the bell. Powering the move higher is news of a potential joint venture with sector peer SunPower Corporation (NASDAQ:SPWR), as well as a subsequent upgrade to "buy" from "hold" at Deutsche Bank -- which also raised its price target to $68 from $60. On the charts, First Solar, Inc. has had a solid start to 2015, tacking on more than 11% to trade at $49.64. Option bulls have responded, too, as the equity's 10-day ISE/CBOE/PHLX call/put volume ratio of 3.31 sits in the 81st percentile of its annual range.

Finally, ACAD has surged 18.5% year-to-date to perch at $37.62, and is pointed 1.7% higher -- and headed for record-high territory -- in pre-market trading, after H.C. Wainwright initiated coverage with a "buy" rating and $50 price target. This bullish brokerage attention is just more of the same for ACADIA Pharmaceuticals Inc., which has received seven "strong buy" recommendations, compared to one "hold" and not a single "sell." Meanwhile, the company will divulge fourth-quarter numbers after the close this Thursday, with at least one group of option players gambling on post-event upside.

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