Analyst Upgrades: Facebook Inc, First Solar, Inc., and Paypal Holdings Inc

Analysts upwardly revised their ratings and price targets on Facebook Inc (FB), First Solar, Inc. (FSLR), and Paypal Holdings Inc (PYPL)

Apr 28, 2016 at 9:24 AM
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Analysts are weighing in on social media giant Facebook Inc (NASDAQ:FB), solar energy stock First Solar, Inc. (NASDAQ:FSLR), and payment processor Paypal Holdings Inc (NASDAQ:PYPL). Here's a quick roundup of today's bullish brokerage notes on FB, FSLR, and PYPL.
  • FB is set to pop 11.4% -- into all-time-high territory -- at the opening bell, after the social media maven reported first-quarter earnings results that blew past analysts' estimates, as well as a plan to change the company's share structure. The brokerage bunch has met the news with enthusiasm, as no fewer than 24 analysts raised their price targets on Facebook Inc, to a range between $120 and $165. While call buyers were active in Wednesday's session, when the shares settled at $108.89, some lingering option bears may be feeling the heat today. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio of 0.63 sits in the 89th percentile of its annual range.
  • FSLR reported first-quarter earnings well above expectations last night, but revenue fell short, sending the shares 3.7% lower in pre-market trading. The company also announced the appointment of a new CEO, and raised the lower end of its full-year earnings outlook. Janney increased its price target on First Solar, Inc. to $89 from $86 -- a 43.5% premium over the shares' Wednesday close of $62.03, and a level not seen since 2011 -- while Goldman Sachs lowered its target by $4 to $92. Despite today's expected dip, FSLR is perched atop its supportive 160-day moving average, which could contain losses. In fact, a bounce from this level could send bears running to the hills. Short sellers have been backing off from FSLR lately, and additional short-covering could be a boon for the shares. Also, the stock could stand to benefit from an unwinding of pessimism in the options pits.
  • PYPL is up 3% in pre-market trading, and could make a run at a new record high today, after settling at $40.01 on Wednesday. The company unveiled better-than-expected quarterly earnings, and has received price-target hikes from at least 11 brokerage firms so far. Baird set its target the highest, at $48, but the shares could rally even higher should analysts upgrade their ratings. At the moment, 13 brokerage firms have a "hold" or worse recommendation on the stock. Paypal Holdings Inc has had a strong year on the charts, already up 10.5% in 2016.
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