Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (TSLA), Monsanto Company (MON), and AbbVie Inc (ABBV)
Analysts are weighing in today on electric automaker Tesla Motors Inc (NASDAQ:TSLA), agricultural concern Monsanto Company (NYSE:MON), and biopharmaceutical firm AbbVie Inc (NYSE:ABBV). Here's a quick roundup of today's bullish brokerage notes on TSLA, MON, and ABBV.
- TSLA is up 2.6% this morning at $255.70 on reports Panasonic is sending hundreds of employees to the car producer's Gigafactory in Nevada to prepare to make lithium-ion batteries next year. On top of this, Baird raised its price target to $335 from $275, marking a 31% premium to current levels. The shares have been solid on the charts, adding 15% in 2015. Option traders have been betting on more upside, too. Tesla Motors Inc's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.35 is higher than three-fourths of comparable readings from the past year. On a separate note, TSLA will hold its annual shareholder meeting tomorrow.
- MON's second takeover bid for Syngenta AG (ADR) (NYSE:SYT) has been rejected, with the latter company citing regulatory concerns. Regardless, Monsanto Company is up 0.6% on the day at $114.62, as it received an upgrade at Atlantic Equities to "neutral" from "underweight." Analysts are split on the stock. While seven brokerage firms say it's a "strong buy," six others deem it only a "hold." Going by its recent price action, the bearish attention seems more deserving. MON has dropped 9% since touching a 2015 high of $126 on Feb. 25.
- Thanks to a pair of price-target hikes, ABBV has added 0.6% this morning to hit $67.90. Specifically, Jefferies upped its price target to $90 from $86, while Credit Suisse raised its mark to $72 from $69. The Street already has a decidedly bullish stance on the shares, with 80% of brokerage firms calling them a "strong buy," and not a single "sell" to be found. On the charts, AbbVie Inc has been gaining lately, outpacing the S&P 500 Index (SPX) by almost 15 percentage points over the past three months.