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Analysts upwardly revised their ratings on Catalyst Pharmaceutical Partners, Inc. (CPRX), Starbucks Corporation (SBUX), and Sunedison Inc (SUNE)
Analysts are weighing in today on drugmaker Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX), coffee king Starbucks Corporation (NASDAQ:SBUX), and alternative energy issue Sunedison Inc (NYSE:SUNE). Here's a quick roundup of today's bullish brokerage notes on CPRX, SBUX, and SUNE.
- CPRX was started with a "buy" rating and $7 price target at SunTrust Robinson. As such, the shares are pointed more than 4% higher ahead of the bell, which could add to their impressive year-to-date advance of 25.6% -- as of Tuesday's close at $3.73. Given these impressive technicals, it should come as little surprise that the brokerage bunch is fully behind Catalyst Pharmaceutical Partners, Inc. All of the analysts following the stock have handed out "strong buy" recommendations, while CPRX's consensus 12-month price target of $7.50 roughly doubles current trading levels -- and sits in uncharted territory, as well.
- SBUX saw its price target upped by $5 to $107 at Piper Jaffray, which also underscored its "overweight" opinion. Technically speaking, the shares have started off 2015 with a bang, adding nearly 14% year-to-date to trade at $93.45. In fact, over the last two months, Starbucks Corporation has outperformed the broader S&P 500 Index (SPX) by close to 13 percentage points. As with CPRX, analysts are firmly in the bulls' corner when it comes to SBUX. Fifteen out of 19 brokerage firms following the stock rate it a "buy" or better, compared to four "holds" and not a single "sell."
- SUNE rallied 3.7% yesterday to settle at $23.29 -- benefiting from big news within the solar industry -- bringing the equity's year-to-date lead to 19.4%. Analysts have responded, with Cowen and Company lifting its price target to $35 from $33 (and reiterating an "outperform" rating), and Needham raising its target to $31 from $28 (while maintaining a "buy" opinion). Not everyone is bullish on Sunedison Inc, however. Nearly one-third of the stock's float is sold short, which would take more than seven sessions to repurchase, at typical daily trading levels. In other words, SUNE could be on the verge of a short-covering rally. Ahead of the open, the shares are up roughly 1%.