Analyst Upgrades: Tesla Motors Inc, Raytheon Company, and Exxon Mobil Corporation

Analysts upwardly revised their ratings on Tesla Motors Inc (TSLA), Raytheon Company (RTN), and Exxon Mobil Corporation (XOM)

by Josh Selway

Published on Oct 12, 2015 at 9:25 AM
Updated on Oct 12, 2015 at 9:26 AM

Analysts are weighing in on electric automaker Tesla Motors Inc (NASDAQ:TSLA), defense firm Raytheon Company (NYSE:RTN), and oil giant Exxon Mobil Corporation (NYSE:XOM). Here's a quick roundup of today's bullish brokerage notes on TSLA, RTN, and XOM.

  • Looking to bounce back after a tough weekTSLA is 0.8% higher in electronic trading, thanks to an upgrade to "hold" from "sell" at S&P Capital IQ. Since closing July at $266.15, the security has struggled, falling 17.1% to $220.69 -- and into negative year-to-date territory. Amid this downturn, option bears have stepped in. Tesla Motors Inc's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) comes in at 1.03 -- higher than nearly two-thirds of all similar readings from the past 12 months. 

  • RTN will look to benefit this morning from an upgrade to "overweight" from "neutral" at J.P. Morgan Securities, which also raised its price target to $130 from $121. Meanwhile, Barclays raised its price target to $120 from $115, and Citigroup bumped its target to $130 from $124. All three price targets mark all-time-high territory for the stock, which settled at $111.64 on Friday -- 3% above its year-to-date flatline. Most on the Street are already behind Raytheon Company. Of the 15 brokerage firms covering the shares, 12 say they're a "strong buy." 

  • XOM has gained 0.6% ahead of the open, after Barclays -- which weighed in on several energy names this morning -- upgraded the stock's rating to "equal weight" from "underweight," and bumped its price target to $85 from $80. The equity is in need of some good news, as it's looking at a 14.3% year-to-date hole, as of its close at $79.26 on Friday. Regardless, option traders have remained bullish on Exxon Mobil Corporation. The stock's 10-day ISE/CBOE/PHLX call/put volume ratio of 2.49 is only 1 percentage point from an annual high. In short, call buying has been much more popular than normal lately. 
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