Tesla, Netflix, Adobe Upgraded

Tesla, Netflix, and Adobe stocks are on analysts' bullish radar today

Mar 17, 2017 at 9:58 AM
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Analysts are weighing in on electric car maker Tesla Inc (NASDAQ:TSLA), streaming giant Netflix, Inc. (NASDAQ:NFLX), and software stock Adobe Systems Incorporated (NASDAQ:ADBE). Here's a quick roundup of today's bullish brokerage notes on TSLA, NFLX, and ADBE shares.

Tesla Raises More Capital Than Planned

TSLA is up 0.6% this morning at $263.77, following news the company raised roughly $1.2 billion -- 20% more than expected -- via a stock offering and sale of convertible senior notes. What's more, Goldman Sachs bumped its price target to $187 from $185 -- though this obviously represents a huge discount to current trading levels. This is par for the course, however, as analysts have mostly dismissed Tesla Inc's nearly 24% year-to-date advance. At the moment, 81% of covering brokerage firms call Tesla stock a "hold" or worse, suggesting upgrades could be on the horizon. 

Analyst Compares Netflix Stock to Jesus

NFLX is down 0.1% this morning at $144.24 following one of the strangest analyst notes in recent memory. Specifically, Bernstein initiated coverage on Netflix stock with an "outperform" rating, saying "If Jesus were a stock, he'd be Netflix. You either believe or you don't." There seem to be plenty of believers, since NFLX shares hit a record peak of $146.50 yesterday, and now boast a year-to-date gain of 16.6%. Still, short-term options traders are unusually put-skewed, based on the equity's Schaeffer's put/call open interest ratio (SOIR) of 1.12 -- just 2 percentage points from an annual high. 

Adobe Stock Soars to New Heights After Earnings Beat

Analysts are rushing to raise their outlooks on ADBE, after the company blew past Wall Street's earnings and revenue estimates. Several brokerages raised their price targets, including Wunderlich, which set its target at $145 -- all-time-high territory -- while upgrading the shares to "buy" from "hold." Adobe Systems Incorporated has been unstoppable on the charts in recent years, surging higher since late 2012, and was last seen up 6.1% at $129.80, earlier touching a record high of $130.30. Unsurprisingly, short sellers continue to throw in the towel, with short interest dropping 8.7% in the most recent reporting period. 

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