Analyst Upgrades: Fitbit Inc, Hawaiian Holdings, Inc., and Terex Corporation

Analysts upwardly revised their ratings and price targets on Fitbit Inc (NYSE:FIT), Hawaiian Holdings, Inc. (NASDAQ:HA), and Terex Corporation (NYSE:TEX)

by Karee Venema

Published on Jan 27, 2016 at 9:39 AM
Updated on Jan 27, 2016 at 9:43 AM

Analysts are weighing in on wearable device maker Fitbit Inc (NYSE:FIT), regional airline issue Hawaiian Holdings, Inc. (NASDAQ:HA), and construction concern Terex Corporation (NYSE:TEX). Here's a quick roundup of today's bullish brokerage notes on FIT, HA, and TEX.

  • Despite a rare bearish brokerage note from RBC earlier this week, most analysts are upbeat about FIT. Citigroup jumped on the bullish bandwagon, and initiated coverage with a "buy/high risk" rating and a $35 price target -- more than double last night's close at $16.77, and territory FIT has not seen since mid-November. Specifically, the brokerage firm waxed optimistic on Fitbit Inc's latest product cycle, due out later this year. As such, the shares are 2.7% higher at $17.21, paring their year-to-date deficit to 42%.

  • HA is up 7% out of the gate at $34.63, after the company's fourth-quarter earnings report was met with an upgrade to "buy" from "hold" and a price-target hike to $40 from $35 at Deutsche Bank. Sterne Agee also chimed in on the stock, boosting its price target to $58 from $50 -- in never-before seen territory. On the charts, the shares entered a period of consolidation after topping out at a record peak of $40.13 in early December, but found a foothold atop their rising 120-day moving average. Short-term option traders, meanwhile, are more put-skewed than usual, per Hawaiian Holdings, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 0.61 -- in the 80th annual percentile.

  • After tacking on nearly 37% yesterday on news of an unsolicited buyout bid from Chinese construction firm Zoomlion, TEX is trading over 6% higher this morning at $21.76. Helping boost the shares is an upgrade to "neutral" from "underweight" at J.P. Morgan Securities. The brokerage firm also raised its price target to $24 from $19, as did Barclays (to $25 from $15). Technically, this recent burst of buying power runs counter to the equity's long-term trajectory, with TEX off 26% from its late-May annual high of $29.32. What's more, yesterday's rally was contained by the equity's 200-day moving average -- a trendline that has served as resistance over the past year.

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