Notable Upgrades: Rentrak Corporation (RENT), EMCORE Corp (EMKR), Tesla Motors (TSLA), Level 3 Communications, Inc. (LVLT), Netflix (NFLX)

Analysts at Wunderlich initiated coverage on Rentrak Corporation (RENT) with a ‘Buy’ rating and a $75 price target in a research report issued to clients on Thursday. The firm’s PT implies 33.23% expected return.

Rentrak Corporation shares are currently priced at 58.35x next year’s forecasted earnings compared to the industry’s -0.18x earnings multiple. Ticker has a PEG and forward P/E ratio of -19.46 and 58.19, respectively. Price/Sales for the same period is 7.87 while EPS is ($0.35). Currently there are 2 analysts that rate RENT a ‘Strong Buy’, 2 rate it a ‘Buy’ and 1 rates it a ‘Hold’. No analysts rate it a sell. RENT has a median Wall Street price target of $64.50 with a high target of $72.00.

In the past 52 weeks, shares of Portland, Oregon-based media measurement and information company have traded between a low of $31.39 and a high of $69.00 and are now at $55.93. Shares are up 76.44% year-over-year and 47.61% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Shares of EMCORE Corporation (EMKR) rallied 26% on Thursday after announcing the sale of its Space Photovoltaics business to Veritas Capital.

The semiconductor company said it will sell its Space Photovoltaics business to private equity firm Veritas Capital for $150 million in cash and the assumption of certain liabilities. The transaction, which is subject to approval by EMCORE’s shareholders, is currently expected to close in Dec. 2014 or January 2015.

Following the news, EMCORE had its price target raised to $10 from $6.50 at B. Riley. The firm’s new PT suggests a potential upside of 84.84% from the stock’s current price.

EMCORE Corporation shares are currently priced at 38.50x next year’s forecasted earnings compared to the industry’s 22.77x earnings multiple. Approximately 5.37M shares have already changed hands, compared to the stock’s average daily volume of 105,081 shares. Ticker has a PEG ratio of -1.39 and t-12 price/sales of 0.76. EPS is ($0.59). Currently there are only 3 analysts that rate EMKR a ‘Buy’. No analysts rate it a sell. EMKR has a median Wall Street price target of $6.50 with a high target of $8.00.

In the past 52 weeks, shares of Albuquerque, New Mexico-based company have traded between a low of $3.50 and a high of $5.90 and are now at $5.41. Shares are up 14.16% year-over-year and 5.47% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Shares of Tesla Motors (TSLA) are up $3.52, or 1.37%, to $264.94 in mid-day trading Thursday. The gains may be attributed to Tesla CEO Elon Musk who was quoted as saying in Wall Street Journal that the technology needed to create a fully autonomous car will be ready in five or six years, and the result will be a car far less likely to harm occupants and others on the road.

“They will be a factor of 10 safer than a person [at the wheel] in a six-year time frame,” Musk said in an interview with the Journal. “Once the technology is available, it likely would take several more years, however, to work out the regulatory impediments,” he said.

In other Tesla news, analysts at Pacific Crest said in a research note this morning they believe Tesla won’t be hurt by electric vehicle space struggles.

TSLA shares are currently priced at 80.76x next year’s forecasted earnings, which makes them expensive compared to the industry’s 21.29x earnings multiple. Ticker has a forward P/E of 80.81 and t-12 price-to-sales ratio of 13.37. EPS for the same period is ($1.11).

In the past 52 weeks, shares of Palo Alto, California-based electric car maker have traded between a low of $116.10 and a high of $291.42 and are now at $264.55. Shares are up 59.46% year-over-year and 76.20% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Level 3 Communications, Inc. (LVLT) was upgraded by DA Davidson from a ‘Neutral’ rating to a ‘Buy’ rating in a research note issued on Thursday. The firm currently has a $54.00 price target on the stock, up from their previous price target of $50. DA Davidson’s price objective suggests a potential upside of 13.13% from the stock’s current pps. Level 3 was also initiated with a ‘Overweight’ and $55.00 price target at JP Morgan (JPM).

LVLT shares are currently priced at 133.35x this year’s forecasted earnings, compared to the industry’s -39.90x earnings multiple. Ticker has a forward P/E of 24.92 and t-12 price-to-sales ratio of 1.71. EPS for the same period is $0.36.

In the past 52 weeks, shares of Broomfield, Colorado-based firm have traded between a low of $25.75 and a high of $49.22 and are now at $47.74. Shares are up 74.63% year-over-year and 44.05% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

ITG Research analysts have raised Netflix’s (NFLX) Q3 domestic streaming revenue to $881.3M from $877.3M, above guidance of $877M and consensus of $876.3M.

NFLX shares recently gained 45.88 to $460.41. The stock is up more than 50% year-over-year and has gained roughly 25% year-to-date. In the past 52 weeks, shares of Los Gatos, California.-company have traded between a low of $282.80 and a high of $489.29.

Netflix, Inc. is currently valued at $27.67B.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

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