Analyst Upgrades: Tesla Motors Inc, Mobileye NV, and Cyberark Software Ltd

Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (NASDAQ:TSLA), Mobileye NV (NYSE:MBLY), and Cyberark Software Ltd (NASDAQ:CYBR)

Jul 5, 2016 at 9:20 AM
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Analysts are weighing in on electric car concern Tesla Motors Inc (NASDAQ:TSLA), tech stock Mobileye NV (NYSE:MBLY), and cybersecurity firm Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's bullish brokerage notes on TSLA, MBLY, and CYBR.

  • TSLA shrugged off reports of an investigation into a fatal accident involving its Model S sedan Friday to finish 2% higher at $216.50. However, the shares are down 3.3% ahead of the bell, as Tesla Motors Inc's lower-than-expected second-quarter delivery numbers appear to be sparking concern among speculators. Nevertheless, Baird reiterated its "outperform" rating and $338 price target -- in never-before-seen territory. Most analysts remain skeptical toward TSLA, though, with 75% maintaining a "hold" or worse suggestion.

  • Baird also chimed in on MBLY, boosting its price target to $55 from $50, while RBC Capital also raised its price target to $53 from $47. This follows last week's well-received news of a big blue-chip partnership, which helped send shares of MBLY to a year-to-date high of $49. While MBLY eventually settled the week at $47.11 -- up 11.4% on the year -- the stock is down 0.9% in electronic trading, amid broad-market headwinds. Short sellers are likely keeping a close eye on this price action. Short interest jumped 14.3% during the last two reporting periods, and now accounts for roughly one-quarter of Mobileye NV's available float.

  • CYBR is 2.6% higher ahead of the bell, after Barclays upgraded the stock's rating to "overweight" from "equal weight" and raised its price target to $60 from $44. Additionally, Cyberark Software Ltd unveiled changes to its board of directors. The shares have been rallying off their mid-February annual low of $31.50, up 53.6% as of last Friday's close at $48.37. More upside could be on the horizon, too, should short sellers capitulate to CYBR's positive price action. A healthy 7.3% of the stock's float is sold short, or nearly three times the equity's average daily trading volume.
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