Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (TSLA), salesforce.com, inc. (CRM), and Silver Wheaton Corp. (USA) (SLW)
Analysts are weighing in on automaker
Tesla Motors Inc (NASDAQ:TSLA), cloud concern
salesforce.com, inc. (NYSE:CRM), and mining firm
Silver Wheaton Corp. (USA) (NYSE:SLW). Here's a quick roundup of today's bullish brokerage notes on TSLA, CRM, and SLW.
- TSLA saw its price target raised to $320 from $310 at Evercore ISI -- a 53% premium to last night's settlement at $208.96. This is just the latest round of bullish brokerage attention for the automotive stock, though nine of 16 analysts still rate Tesla Motors Inc a "hold" or worse. On the charts, the shares haven't exactly set the world on fire. Since hitting a near-term high of $269.34 in early April, TSLA has surrendered 22.4% of its value, and faces a potential layer of resistance at this key trendline. Ahead of the open, though, the stock is pointed 1.1% higher.
- Barclays boosted its price target on CRM to $88 from $72 -- all-time-high territory -- ahead of next Wednesday evening's earnings report. The stock landed at $75.79 yesterday, and has spent the better part of the last two months trading sideways in the $73-$78 neighborhood. However, shares of salesforce.com, inc. recently took a bounce off of their 160-day moving average, which could help the stock break out of its range-bound pattern. Meanwhile, options traders have been gambling on a downside move at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). CRM's 10-day put/call volume ratio of 0.80 ranks in the high 91st annual percentile.
- Precious metal stocks have been on a tear recently, and SLW is no exception. Year-to-date, shares of the silver producer have advanced over 55% to rest at $19.28, and hit an annual high of $21.14 as recently as May 2. Responding to this technical tenacity, BMO upped its rating to "outperform" from "market perform," and lifted its price target to $24 from $19.50. This is par for the course, as far as the brokerage crowd is concerned. An astounding 85% of analysts consider Silver Wheaton Corp. worthy of a "buy" or better endorsement, with not a single "sell" recommendation to be found.
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