TSLA, BABA, ORCL Stocks Upgraded Today

Oracle stock received a price-target hike ahead of earnings next week

Jun 13, 2017 at 9:29 AM
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Analysts are weighing in on electric vehicle maker Tesla Inc (NASDAQ:TSLA), Chinese e-commerce stock Alibaba Group Holding Ltd (NYSE:BABA), and software concern Oracle Corporation (NYSE:ORCL). Here's a quick roundup of today's bullish brokerage notes on shares of TSLA, BABA, and ORCL.

TSLA Stock Could Hit $1K

Analysts at Berenberg upgraded Tesla stock to "buy" from "hold," and lifted their price target to a whopping $464 from $193 -- a premium of 29% to TSLA's close of $359.01 on Monday. Billionaire investor and Tesla shareholder Ron Baron took it a step further, predicting TSLA stock to trade at "about $500 to $600 next year," and "$1,000 in 2020." Meanwhile, Tesla Inc said the Model X is the first SUV to garner a five-star crash rating across the board.

After touching a record high of $376.87 on Friday, the shares of TSLA pulled back with the broader equities market. However, TSLA stock managed a win yesterday, and a short squeeze could drive the shares even higher. Short interest represents more than a quarter of the stock's total available float, representing a week's worth of pent-up buying demand, at TSLA's average pace of trading.

Raymond James Sees 37% Upside for BABA Stock

Alibaba stock is again on the receiving end of bullish analyst attention, after Raymond James raised its price target to $190 from $160. Not only does this represent all-time-high territory for BABA shares, but it stands at a 36.6% premium to last night's close at $139.08. Still, Alibaba is up 58.4% year-to-date, and hit a record high of $148.29 on June 9, and options traders are likely betting on more upside. For example, seven of the 10 biggest jumps in open interest during the past two weeks belonged to call options, including heavy action at the January 2018 170-strike call. BABA stock is up 1.7% in pre-market trading, after the company's cloud unit announced a collaboration with Equinix. 

ORCL Stock Receives Raised Price Target, Estimates

Wedbush this morning raised its price target to $44 from $43 on Oracle stock, and lifted its quarterly earnings estimates, pushing the shares up 0.4% in electronic trading. ORCL settled at $44.85 on Monday, after finding familiar support in the $43.50-$44 region, which is also home to its 100-day moving average. Oracle stock has gained 16.6% in 2017, but options buyers have been more bearish than usual in the past two weeks. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day put/call volume ratio of 3.42 is higher than 98% of all other readings from the past year. Oracle Corporation will report earnings next Wednesday, June 21.

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