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Analyst Update: F5 Networks, Inc., Chevron Corporation, and Tesla Motors Inc

Analysts are weighing in on F5 Networks, Inc. (FFIV), Chevron Corporation (CVX), and Tesla Motors Inc (TSLA)

Oct 31, 2016 at 3:20 PM
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Analysts are weighing in on tech stock F5 Networks, Inc. (NASDAQ:FFIV), oil-and-gas issue Chevron Corporation (NYSE:CVX), and electric car maker Tesla Motors Inc (NASDAQ:TSLA). Here's a quick roundup of today's brokerage notes on FFIV, CVX, and TSLA.

  • FFIV has added 2.7% to $138.24 -- and earlier hit a four-year high of $138.55 -- after FBN Securities raised its price target on the stock to $140 from $120, citing "healthy demand for existing products," and noting the expectation for a "steady ramp in sales" with the launch of new products due in November. F5 Networks, Inc. saw a raft of upbeat analyst attention after last week's earnings beat, and the stock has added 15.6% over the past three sessions since reporting, bringing its year-to-date gains to nearly 43%. Yet, there is still plenty of room for the brokerage bunch to lift opinions further -- at the moment, 18 out of 23 analysts rate FFIV a "hold" or "strong sell."
  • CVX received a round of bullish brokerage attention today, including an upgrade to "buy" from "neutral" at Goldman Sachs, which also raised its price target by $10 to $118, and added the stock to its "Americas Conviction Buy" list -- while taking the opposite approach to sector peer Exxon Mobil Corporation (NYSE:XOM). No fewer than four other firms raised their price targets on the oil stock, as well. The news has Chevron Corporation extending its post-earnings rally, up 1% to $104.85 today, despite a sharp pullback in crude oil prices. Option bulls should be pleased with this price action. CVX's 50-day call/put volume ratio of 1.21 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than 90% of all readings in the past year.

  • TSLA is down 1.1% at $197.74 as traders respond to the company's latest product reveals, including its new Powerwall 2 home battery unit and a line of solar panels made to look like regular roofing shingles. Together with the company's electric cars, CEO Elon Musk called the lineup "sort of the integrated future." On the upbeat side, FBN Securities is responding to last week's earnings results, maintaining its bullish "outperform" rating and $260 price target -- a 31.5% premium over current levels. But despite Tesla Motors Inc's 17.6% year-to-date loss, and failure to maintain a foothold above the $200 level, the stock has seen an abundance of bullish betting in the options pits. Specifically, TSLA's 10-day ISE/CBOE/PHLX call/put volume ratio of 1.30 ranks just 10 percentages points from an annual high. An unwinding of these optimistic bets could spell more trouble for the shares. 
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