Analyst Update: Harley-Davidson Inc, Ironwood Pharmaceuticals, Inc., and Trina Solar Limited

Analysts revised their ratings and price targets on Harley-Davidson Inc (HOG), Ironwood Pharmaceuticals, Inc. (IRWD), and Trina Solar Limited (ADR) (TSL)

Jul 15, 2016 at 2:33 PM
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Analysts are weighing in on motorcycle maker Harley-Davidson Inc (NYSE:HOG), biotech stock Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD), and alternative energy issue Trina Solar Limited (ADR) (NYSE:TSL)Here's a quick roundup of today's brokerage notes on HOG, IRWD, and TSL.

  • HOG is 0.9% lower at $48.09, after Stifel lowered its rating on the stock to "hold" from "buy." The shares are up nearly 6% in 2016, and recently climbed back above their 200-day moving average -- a trendline that had been ushering Harley-Davidson Inc lower since late 2014. Perhaps it's no coincidence that call buying has picked up in HOG's options pits of late, per the stock's 10-day call/put volume ratio of 1.17 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- in the 62nd percentile of its annual range, and its highest reading in more than two months. Outside of the options arena, though, it's a completely different story.
  • IRWD is up 8.4% at $13.61, fresh off a new annual high of $13.73, and widening its year-to-date lead to 17%, after Mizuho increased its price target to $24 from $16 -- representing record-high territory for the shares. Specifically, the brokerage firm said IRWD could be a breakout story over the next year, due to its "double-digit top-line growth, a good pipeline, straightforward accounting, and no financing needs." Analysts are split on Ironwood Pharmaceuticals, with four giving out a "strong buy" rating and four maintaining a "hold." But traders have been more pessimistic. More than 12% of IRWD's total float is sold short, accounting for over two weeks' worth of trading, at the stock's typical daily volume. An unwinding of these bearish bets in the face of the stock's uptrend could create fresh tailwinds.
  • TSL received a downgrade to "market perform" from "outperform" at Cowen and Company, sending the shares down 4.5% to $8.32. The stock has plummeted 25% so far this year, hitting a two-year low of $6.91 in late June. While two-thirds of analysts give Trina Solar Limited a lukewarm "hold" rating, the stock's recent performance hasn't shaken options traders, who have bought to open more than 28 calls for each put over the last two weeks. Plus, the resultant 10-day ISE/CBOE/PHLX call/put volume ratio of 28.28 ranks higher than 97% of all readings in the last 12 months.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Alere Inc, AT&T Inc., and Sodastream International Ltd and Analyst Downgrades: Chipotle Mexican Grill, Inc., Delta Air Lines, Inc., and NVIDIA Corporation.

 

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