Tesla, Ctrip.com, Square Upgraded

Tesla Inc (TSLA), Ctrip.com International, Ltd. (ADR) (CTRP), and ​Square Inc (SQ) are winning support from Wall Street analysts

Feb 23, 2017 at 9:18 AM
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Analysts are weighing in on electric automaker Tesla Inc (NASDAQ:TSLA), travel stock Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), and payment specialist Square Inc (NYSE:SQ). Here's a roundup of today's bullish brokerage notes on TSLA, CTRP, and SQ shares.

Baird Hikes Price Target on "Undervalued" Tesla

Last night, TSLA revealed a mixed earnings report -- with a wider-than-expected quarterly loss, but sales that topped the consensus view. In addition, CEO Elon Musk said CFO Jason Wheeler will depart in April. The collective news prompted Baird to raise its price target to $368 from $338 -- in record-high territory -- explaining, "Tesla Energy's potential is still undervalued." Likewise, RBC lifted its price target to $314 from $245. On the flip side, Dougherty cut its price target to $375 from $500. Plus, Pacific Crest warned that they "view the shares with increasing skepticism given the recent run-up," especially if the Model 3 launch falls behind schedule.

Tesla Inc shares are down 1.7% ahead of the open, relative to Wednesday's close at $273.51. But the stock has been red-hot of late, touching an all-time peak of $287.39 last week. Upgrades could bolster TSLA, as well, considering 14 of 17 analysts rate the shares a "hold" or worse.

Ctrip.com Earnings Spark Wall Street Approval

CTRP is poised to shoot 5.5% higher out of the gate, following a well-received earnings report. Morgan Stanley, Raymond James, and Stifel all raised their price targets on the stock, which landed yesterday at $47.59, up 19% year-to-date. Nevertheless, options traders are extremely put-skewed toward Ctrip.com International, Ltd. The shares sport a Schaeffer's put/call open interest ratio (SOIR) of 1.44 -- just 2 percentage points from a 12-month high.

Square Signals a Post-Earnings Record High

SQ shares have advanced 11% in electronic trading, suggesting they could notch a record high out of the gate. Boosting the stock, which closed yesterday at $15.04, was a smaller-than-expected quarterly loss and a round of bullish brokerage notes. No fewer than nine analysts raised their price targets on Square Inc, with Mizuho Securities setting the highest bar, at $19 -- territory yet to be charted. Meanwhile, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open more than three SQ calls for every put over the last 10 weeks, hinting at upbeat expectations.

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