Analyst Upgrades: General Electric Company, TESARO Inc, and Yelp Inc

Analysts upwardly revised their ratings and price targets on General Electric Company (GE), TESARO Inc (TSRO), and Yelp Inc (YELP)

by Celeste Taylor

Published on Jun 30, 2016 at 10:13 AM

Analysts are weighing in on Dow stock General Electric Company (NYSE:GE), biotech TESARO Inc (NASDAQ:TSRO), and online review site Yelp Inc (NYSE:YELP). Here's a quick roundup of today's bullish brokerage notes on GE, TSRO, and YELP.

  • GE is up 1.1% at $30.88, Goldman Sachs raised its price target to $29 from $28. Additionally, General Electric Company's financial division -- GE Capital -- was officially removed from the "too big to fail" list. GE stock is up almost 16% over the last 12 months, but its latest rally attempts have been contained in the $31-$32 region. Option traders, meanwhile, have been loading up on puts in recent weeks. The stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at a top-heavy 1.57, higher than 86% of all other readings from the past year.
  • Analysts were quick to chime in on TSRO, after the stock more than doubled in value yesterday -- and hit a record high of $80.69 -- on well-received drug data. At least five brokerage firms issued price-target hikes, including one from Raymond James to $100 from $57. Jefferies, meanwhile, boosted its price target to $75, while also downgrading TSRO to "hold" from "buy." At last check, the stock was off 3.2% at $74.92, after TESARO Inc unveiled a $300 million public stock offering. However, in the wake of Wednesday's surge, TSRO's 14-day Relative Strength Index (RSI) settled at 79, well in overbought territory, suggesting a near-term pullback may have been in the cards.
  • YELP ​is up 0.9% at $29.45, after MKM Partners upgraded the stock to "buy" from "neutral," saying a rebound in sales productivity will continue to fuel Yelp Inc's revenue growth. YELP has staged a remarkable recovery over the last few months, with the shares doubling since hitting a three-year low in February. Plus, prior to today, the shares had outperformed the broader S&P 500 Index (SPX) by 45 percentage points over the previous 60 sessions. Should YELP continue this momentum, there's plenty of room for more bullish brokerage notes. Currently, 73% of analysts covering the shares maintain a "hold" or worse rating.
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