Analyst Upgrades: Tesla Motors Inc, Micron Technology, Inc., and Nike Inc

Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (TSLA), Micron Technology, Inc. (MU), and Nike Inc (NKE)

Dec 22, 2016 at 9:23 AM
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Analysts are weighing in on electric car maker Tesla Motors Inc (NASDAQ:TSLA), semiconductor stock Micron Technology, Inc. (NASDAQ:MU), and Dow component Nike Inc (NYSE:NKE). Here's a quick roundup of today's bullish brokerage notes on TSLA, MU, and NKE.

  • TSLA received an upgrade to "buy" at CrispIdea Research, which also raised its price target on the stock to $219 from $179. The firm cited strong performance in the third quarter, but also noted that "cash flow expectations remain volatile," and added, "We will however still keep our antennas up on deliveries, FCF and cost containment." Tesla Motors Inc has given back 13.5% year-to-date at $207.70. And despite a recent rebound, the stock seems to be hitting a wall at the overhead $210 mark. Not to mention, with a 14-day Relative Strength Index (RSI) of 66, TSLA is on the verge of being overbought, suggesting a breather could be just around the corner.

  • An upbeat quarterly earnings report has MU soaring 12.5% ahead of the bell, on pace to tap a new annual high at the open. The stock also saw its rating raised to "buy" at Summit Redstone and Needham, while no fewer than 13 brokerage firms increased their price targets on Micron Technology, Inc. The shares have been shooting higher since May, and at $20.58, have more than doubled from their January low. Today's potential pop appears to be just what recent options traders have been hoping for. Across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have purchased more than four MU calls for each put over the past 10 weeks -- yielding a call/put volume ratio that ranks higher than 82% of the last year's readings.

  • NKE is getting another boost from the brokerage bunch today, set to add 0.6% at the open after Guggenheim added the stock to its "Best Idea" list, replacing Amazon.com, Inc (NASDAQ:AMZN). The brokerage cited expectations for strong revenue and gross margin growth in 2017. Closing last night at $52.30, Nike Inc has found solid support above the round $50 level, as well as the ascending 160-week moving average. There is still plenty of room for analyst upgrades to lift the shares further. At present, more than half of the firms following NKE maintain a rating of "hold" or worse.
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