Analyst Upgrades: Tesla Motors Inc, Mobileye NV, and Oclaro, Inc.

Analysts upwardly revised their ratings and price targets on electric automaker Tesla Motors Inc (TSLA), as well as tech stocks Mobileye NV (MBLY) and Oclaro, Inc. (OCLR)

Jan 19, 2017 at 9:54 AM
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Analysts are weighing in on electric automaker Tesla Motors Inc (NASDAQ:TSLA), as well as former TSLA partner Mobileye NV (NYSE:MBLY) and optical components maker Oclaro, Inc. (NASDAQ:OCLR). Here's a quick roundup of today's bullish analyst notes on TSLA, MBLY, and OCLR stocks.

  • TSLA is up 3.8% at $247.20, after an upgrade to "overweight" from "equal weight" by Morgan Stanley, which also hiked its price target to $305 -- all-time high territory -- from $242. The brokerage firm cited a "supportive political environment," due to CEO Elon Musk's recent ties with President-elect Donald Trump, as well as improved expectations for TSLA's Model 3 launch. J.P. Morgan Securities also issued a price-target hike to $188 from $180. Separately, Panasonic expressed interest in expanding its partnership with Tesla Motors, with the company stating it is "deeply interested in Tesla's self-driving system." TSLA has been on a tear upward since its late-2016 bottom near the $180 level, gaining roughly 24% in three months. Even with its recent technical strength, near-term option players are more put-skewed than at any point in the last 12 months, with TSLA's Schaeffer's put/call open interest ratio (SOIR) of 1.86 docked at an annual high. An unwinding of these bets could provide further tailwinds for Tesla Motors Inc.

  • MBLY is trading 4.3% higher at $43.84, after Goldman Sachs raised its rating to "buy" from "neutral," and raised its price target to $50 from $40. The shares are now up more than 30% from their late-December lows, and could close north of their 20-month moving average for the first time since August. In the option pits, bulls have been ramping up their exposure to Mobileye NV, with 4.20 calls bought to open for every put option over the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio is higher than 88% of all other readings from the past year, pointing to a healthier-than-usual appetite for long calls over puts.

  • OCLR is up 14.6% at $9.32, after delivering an upbeat fiscal second-quarter outlook, and being bombarded with optimistic analyst attention in the hours since, including a trio of price-target hikes from Stifel, Craig-Hallum, and B. Riley, to $12, $14, and $15.50, respectively. OCLR has added more than 180% in the past year, though the shares have been churning in the $8-$10 range since early November. Some investors still maintain a healthy sense of skepticism toward Oclaro, Inc., however. Short interest grew 20.5% over the last reporting period, and now accounts for more than 10% of OCLR's float.
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