Notable Upgrades: Apple (AAPL), Canadian Solar (CSIQ), SolarCity (SCTY), Avago Technologies (AVGO), Bank of America (BAC)

Analysts at Wells Fargo (WFC) are out with a report this morning upgrading shares of Apple Inc. (AAPL) with a ‘Outperform‘ from ‘Market Perform‘ rating. The firm cites valuation after the recent decrease in the stock’s price and reassurances about China from CEO Tim Cook in an email to CNBC’s Jim Cramer.

On valuation measures, Apple Inc. shares are currently priced at 12.38x this year’s forecasted earnings, compared to the industry’s 12.34x earnings multiple. Ticker has a forward P/E of 11.07 and t-12 price-to-sales ratio of 2.62. EPS for the same period is $8.65.

Over the past year, shares of Cupertino, California-based tech giant have traded between a low of $92.00 and a high of $134.54 and are now at $107.01.

Shares are up 3.52% year-over-year ; down 5.39% year-to-date.

In a report published Tuesday, Cowen analysts initiated coverage on Canadian Solar Inc. (CSIQ) with an ‘Outperform‘ rating and $28.50 price target.

On valuation measures, Canadian Solar Inc. shares currently have a PEG and forward P/E ratio of 1.47 and 6.61, respectively. Price/sales for the same period is 0.27 while EPS is $4.39. Currently, there are 6 analysts that rate CSIQ a ‘Buy’ vs. no analysts rating it a ‘Hold’ or a ‘Sell’. CSIQ has a median Wall Street price target of $40.00 with a high target of $53.00.

In the past 52 weeks, shares of West Guelph, Canada-based company have traded between a low of $14.16 and a high of $41.12.

Shares are down 32.70% since the beginning of the year.

Investment analysts at Cowen initiated coverage on shares of SolarCity Corporation (SCTY) in a note issued to investors on Tuesday. The firm set a ‘Market Perform‘ rating and a $50 price target on the stock. The firm’s new PT would suggest a potential upside of 13% from the stock’s current price of $44.21.

SolarCity Corp., currently valued at $4.31 billion, has a median Wall Street price target of $75.50 with a high target of $105.00. Approximately 3 million shares have changed hands, compared to the stock’s average daily volume of 3.35 million.

In the past 52 weeks, shares of San Mateo, California-based company have traded between a low of $34.65 and a high of $75.90 with the 50-day MA and 200-day MA located at $52.90 and $55.10 levels, respectively. Additionally, shares of SCTY have a Relative Strength Index (RSI) and MACD indicator of 35.00 and -5.67, respectively.

SolarCity Corp. currently prints a year-to-date loss of around 18%.

Avago Technologies Limited (AVGO) was upgraded to ‘Buy‘ from ‘Outperform‘ by Credit Agricole analysts on Tuesday. The broker also set its price target on the stock at $150.

AVGO is currently printing a normal trading volume with the issue trading 2.42 million shares, compared to the average volume of 3.37 million. The stock began trading this morning at $115.00 to currently trade 0.56% higher from the prior days close of $109.94. On an intraday basis it has gotten as low as $110.49 and as high as $115.00.

Avago shares have declined 14.43% in the last 4 weeks and 16.03% in the past three months. Over the past 5 trading sessions the stock has lost 12.41%. The Singapore-based company, which is currently valued at $30.24 billion, has a median Wall Street price target of $163.50 with a high target of $185.00.

Avago Technologies Ltd. is up 46.15% year-over-year, compared with a 5.34% loss in the S&P 500.

Bank of America Corporation (BAC) was raised to ‘Neutral‘ from ‘Underperform‘ at Macquarie on Tuesday.

BAC is up $0.45 at $15.74 on heavy volume. Midway through trading Tuesday, 109 million shares of Bank of America Corp. have exchanged hands as compared to its average daily volume of 89.76 million shares. The stock has ranged in a price between $15.74-$16.20 after having opened the day at $16.20 as compared to the previous trading day’s close of $15.29.

In the past 52 weeks, shares of Charlotte, North Carolina-based banking giant have traded between a low of $14.60 and a high of $18.48.

Shares are down 4.05% yoy and 14.01% year-to-date.

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