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)

Jan 27, 2016 at 9:39 AM
facebook twitter linkedin


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.

Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners