Tesla, Cypress Semiconductor, Sunoco Upgraded

Tesla, Cypress Semiconductor, and Sunoco stocks are on analysts' bullish radar today

by Alex Eppstein

Published on Apr 10, 2017 at 9:26 AM

Analysts are weighing in on electric automaker Tesla Inc (NASDAQ:TSLA), chip stock Cypress Semiconductor Corporation (NASDAQ:CY), and energy issue Sunoco LP (NYSE:SUN). Here's a quick roundup of today's bullish brokerage notes on shares of TSLA, CY, and SUN.

Tesla Receives Well-Deserved Upgrade

Piper Jaffray upgraded TSLA to "overweight" from "neutral," and raised its target price to $368 from $223 -- well into all-time-high territory. Last week, the shares hit a record peak of $304.88, before settling Friday at $302.54. Given Tesla Inc stock's technical exploits, more upgrades could be just around the corner. After all, 13 of 16 analysts rate the equity a "hold" or worse. Short-covering activity could further bolster the stock, with nearly one-quarter of its float dedicated to these bearish bets. Ahead of the bell, TSLA stock is up 2.1%, and on track for even higher highs.

Cypress Semiconductor Pointed Higher After Bullish Note

CY has tacked on 1.6% in electronic trading, after SunTrust Robinson upwardly revised its rating to "buy" from "hold." The stock has had a strong year, soaring 66.5% in the last 12 months to trade at $13.59. Not surprisingly, options traders have been swarming Cypress Semiconductor Corporation calls over puts. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have purchased more than 4,000 CY calls in the last two weeks, compared to roughly 300 put options.

Sunoco Stock Testing Key Trendline

SUN received an upgrade to "hold" from "underperform" at Jefferies, which also lifted its price target to $29 from $20. Following suit, Baird boosted its opinion to "outperform" from "neutral." On Friday, Sunoco LP shares settled at $29.40, roughly in line with their 320-day moving average, and the highest close since early February. If SUN stock can break out above this trendline, additional upgrades could come down the pike. Currently, 10 of 14 analysts rate the shares a "hold" or a "sell."


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