Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (TSLA), Charter Communications, Inc. (CHTR), and TJX Companies Inc (TJX)
Analysts are weighing in on electric car company
Tesla Motors Inc (NASDAQ:TSLA), cable service provider
Charter Communications, Inc. (NASDAQ:CHTR), and retail stock
TJX Companies Inc (NYSE:TJX). Here's a quick roundup of today's bullish brokerage notes on TSLA, CHTR, and TJX.
- Goldman Sachs upgraded TSLA to "buy" from "neutral," saying it set low expectations for the mass-market appeal of the company's Model 3. Additionally, the brokerage firm's price target of $250 represents expected upside of 22% to last night's close at $204.66, and comes as a result of Tesla Motors Inc's "disruptive potential," and "ambitious" 500,000-vehicle target. Against this backdrop, TSLA stock is up 2.1% in electronic trading, suggesting the shares are poised to narrow their 14.7% year-to-date deficit. Options traders, meanwhile, have been initiating long puts over calls at a rapid-fire rate. In fact, the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.32 is docked at an annual high.
- CHTR -- which was halted earlier as developments over its completed acquisition of Time Warner Cable, first proposed roughly one year ago, were released -- saw its price target raised to $284 from $236 at J.P. Morgan Securities. Not only does this stand at a 26.3% premium to Tuesday's settlement at $224.91, but it sits in territory yet to be charted. Longer term, shares of Charter Communications, Inc. are up 11% on the year, and hit an all-time peak of $242.84 last Thursday. Despite this uptrend, short sellers have been increasing their bearish exposure. In the most recent reporting period, short interest jumped 10.6%, and now accounts for two-fifths of CHTR's available float.
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Following yesterday morning's strong earnings report, TJX received price-target hikes from no fewer than five brokerage firms. Goldman Sachs set the loftiest goal at $86 -- expected upside of 13.8% to last night's close at $75.59. What's more, this price target sits well above TJX's April 4 record peak of $79.20. Nevertheless, the stock is down 0.7% ahead of the bell. Although the shares have rallied 19% off their Nov. 16 annual low of $63.53, options traders have taken a glass-half-empty approach. Outside of the options pits, though, 78% of covering analysts maintain a "buy" or better rating toward TJX Companies Inc, with not a single "sell" to be found.
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