Analyst Upgrades: Activision Blizzard, Inc., First Solar, Inc., and Teva Pharmaceutical Industries Ltd

Analysts upwardly revised their ratings on Activision Blizzard, Inc. (ATVI), First Solar, Inc. (FSLR), and Teva Pharmaceutical Industries Ltd (ADR) (TEVA)

by Alex Eppstein

Published on Aug 5, 2015 at 9:04 AM

Analysts are weighing in today on video game developer Activision Blizzard, Inc. (NASDAQ:ATVI), alternative energy issue First Solar, Inc. (NASDAQ:FSLR), and drugmaker Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA). Here's a quick roundup of today's bullish brokerage notes on ATVI, FSLR, and TEVA.

  • ATVI is in the bullish limelight, after the company topped Wall Street's expectations in the earnings confessional and upped its full-year outlook. No fewer than seven brokerage firms raised their price targets on the stock, with Wedbush setting the highest bar, at $37. After settling at $25.67 yesterday, Activision Blizzard, Inc. is poised to jump 6.8% at the open, which would put it in uncharted waters. Taking a step back, the positive attention mentioned above is hardly unique. In fact, all 17 analysts tracking ATVI have doled out "buy" or better ratings, and its consensus 12-month price target of $28.69 represents record-high territory. However, an unwinding among short stock positions could provide a sizable boost. Over 13% of the equity's float is sold short, representing more than six sessions' worth of pent-up buying power, at ATVI's average daily volume.

  • FSLR is on track to soar 10% out of the gate, following the company's standout second-quarter earnings report -- including its first revenue beat in five quarters. Adding to the momentum, Cowen and Company boosted its opinion to "outperform" from "market perform" and its price target to $65 from $62, while Baird lifted its target to $69 from $66. On the flip side, Needham trimmed its expectations to $70 from $73. Today's anticipated bull gap is a welcome development, considering First Solar, Inc. closed at $44.50 yesterday -- a hair's breadth below its year-to-date flatline. Traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been gambling on a pop in recent months. FSLR's 50-day call/put volume ratio of 2.14 ranks in the 89th percentile of its annual range.

  • TEVA saw its rating upped to "hold" from "sell," and its price target lifted to $72 from $51, at Berenberg. Relative to the stock's performance and the existing sentiment backdrop, though, the assessment isn't particularly impressive. After all, over two-thirds of covering analysts rate the security a "buy" or better. Additionally, Teva Pharmaceutical Industries Ltd has surged 23% in 2015 to rest at $70.69 -- less than 2% from Berenberg's new price target. Digging deeper on the charts, the shares are just a stone's throw away from their record high of $72.31, touched late last month on the heels of some well-received M&A news.

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