Analyst Upgrades: Honeywell, Alibaba Group, and Tesla

Analysts upwardly revised their ratings and price targets on Honeywell International Inc. (HON), Alibaba Group Holding Ltd (BABA), and Tesla Motors Inc (TSLA)

Apr 25, 2016 at 9:27 AM
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Analysts are weighing in on industrials interest Honeywell International Inc. (NYSE:HON), online retailer Alibaba Group Holding Ltd (NYSE:BABA), and electric auto stock Tesla Motors Inc (NASDAQ:TSLA). Here's a quick roundup of today's bullish brokerage notes on HON, BABA, and TSLA.
  • No fewer than seven brokerage firms raised their price targets on HON over the weekend, after the company reported better-than-predicted first-quarter earnings on Friday, when the stock settled at $114.17. Jefferies set the highest target, at $130 -- in all-time-high territory for the stock, which hit a record peak of $116.56 last Tuesday. Honeywell International Inc. bounced off of its 40-day moving average at the end of February -- around the time the company dropped its pursuit of United Technologies Corporation (NYSE:UTX) -- and has since been bounding higher. Analysts seem to be impressed, as only one of the 14 providing coverage doesn't recommend buying the stock.
  • BABA is pointed 0.4% lower ahead of the open, after closing Friday at $79.89. This, despite a price-target hike to $109 from $91 at Deutsche Bank. Longer term, though, the stock has added almost 35% since hitting a year-to-date low of $59.25 in February. Short interest remains elevated on BABA, but recent options traders may be eyeing more gains for the shares, with nearly three Alibaba Group Holding Ltd calls bought to open for each put over the past 10 sessions at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The corresponding call/put volume ratio of 2.87 ranks in the high 84th percentile of its annual range.
  • Goldman Sachs increased its price target on TSLA to $245 from $202 -- still a discount to the stock's Friday finish at $253.75. More broadly speaking, a skeptical trend has been seen among other analysts. On the charts, Tesla Motors Inc is sitting 0.5% lower ahead of the bell. Still, the stock has outperformed the S&P 500 Index (SPX) by more than 21 percentage points over the last three months. Meanwhile, at the ISE, CBOE, and PHLX, TSLA's 10-day call/put volume ratio of 1.14 is higher than two-thirds of all readings taken in the past 12 months.
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