Analyst Upgrades: Tesla Motors Inc, Charter Communications, Inc., and TJX Companies Inc

Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (NASDAQ:TSLA), Charter Communications, Inc. (NASDAQ:CHTR), and TJX Companies Inc (NYSE:TJX)

by Karee Venema

Published on May 18, 2016 at 9:29 AM
Updated on May 18, 2016 at 9:58 AM

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.

  • 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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