Analyst Upgrades: Tesla Motors Inc, Nike Inc, and Cyberark Software Ltd

Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (NASDAQ:TSLA), Nike Inc (NYSE:NKE), and Cyberark Software Ltd (NASDAQ:CYBR)

by Karee Venema

Published on Mar 21, 2016 at 9:48 AM
Updated on Mar 21, 2016 at 10:44 AM

Analysts are weighing in on electric car company Tesla Motors Inc (NASDAQ:TSLA), athletic apparel firm Nike Inc (NYSE:NKE), and cybersecurity stock Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's bullish brokerage notes on TSLA, NKE, and CYBR.

  • Optimism is building on TSLA ahead of the company's March 31 Model 3 reveal. Argus, for example, boosted its rating on the stock to "buy" from "hold," and set a price target at $333 -- well into record-high territory. The upgrade has shares of TSLA up 2.1% out of the gate to $237.65 -- extending their lead over the critical 200-day moving average, which was toppled last Friday for the first time this year. A continued shift in sentiment could create additional tailwinds for Tesla Motors Inc. Currently one-third of the equity's float is sold short, while 64% of analysts maintain a "hold" or worse opinion.

  • Ahead of tomorrow's quarterly earnings announcement, NKE was added to J.P. Morgan Securities' "U.S. Equity Analyst Focus" list as a growth strategy pick. The brokerage firm also raised its price target on the shares to $72 from $67.50 -- a 13% premium to NKE's current perch at $63.91. Technically, NKE has bounced 16% from its Feb. 8 year-to-date low of $55.04. Short-term option traders, meanwhile, are much more call-skewed than usual. Specifically, Nike Inc's Schaeffer's put/call open interest ratio (SOIR) of 0.53 sits below 97% of all comparable readings taken in the past year.

  • Goldman Sachs initiated coverage on a number of cybersecurity stocks, and for CYBR, this resulted in an upbeat "buy" recommendation and $51 price target. As such, the shares have edged higher amid a more bearish start for the broader equities market, last seen up 1.2% at $42.13. Longer term, CYBR has rallied more than 33% off its earnings-induced Feb. 12 annual low of $31.50, and short sellers have been jumping ship. In fact, short interest is down 19.9% in the most recent reporting period, but still represents a healthy 9% of Cyberark Software Ltd's available float. A continued unwinding of these bearish bets could help fuel CYBR's fire.
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