Notable Upgrades: Facebook (FB), SolarEdge (SEDG), First Solar (FSLR), Expedia (EXPE)

Facebook, Inc. (FB) was reiterated a ‘Buy’ by Canaccord Genuity analysts on Thursday. The broker also raised its price target on the stock to $135 from $115, noting it still thinks there is fuel in FB’s tank to deliver continued strong growth and upside to estimates. Set against a reasonable valuation relative to the growth, firm sees continued room for the stock to keep working through a seasonally strong fourth-quarter.

On valuation measures, Facebook Inc. Cl A shares are currently priced at 110.77x this year’s forecasted earnings, compared to the industry’s 14.11x earnings multiple. Ticker has a forward P/E of 39.81 and t-12 price-to-sales ratio of 20.00. EPS for the same period is $0.98.

Over the past year, shares of Menlo Park, California-based company have traded between a low of $72 and a high of $110.65 and are now at $109.

Shares are up 37.20% year-over-year, and 33.22% year-to-date. FB today hit an all time-high of $110.65.

SolarEdge Technologies, Inc. (SEDG) was reiterated as ‘Buy’ with a $34 from $42 price target on Thursday by Needham. The name was also upgraded to ‘Outperform’ from ‘Market Perform’ at Avondale.

On valuation measures, SolarEdge Technologies Inc. shares are currently priced at 81.76x this year’s forecasted earnings, compared to the industry’s 12.82x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.42 and 10.92, respectively. Price/Sales for the same period is 2.08 while EPS is $0.27.

Currently there are 6 analysts that rate SEDG a ‘Buy’, 2 rate it a ‘Hold’. No analyst rates it a ‘Sell’. SEDG has a median Wall Street price target of $36.50 with a high target of $45.

First Solar, Inc. (FSLR) rating of ‘Buy’ was reiterated today at Argus with a price target increase of $87 from $78 (versus a $58.66 previous close).

FSLR is up $0.10 at $58.76 on normal volume. Midway through trading Thursday, more than 802K shares of First Solar Inc. have exchanged hands as compared to its average daily volume of 1.85 million shares. The stock has ranged in a price between $57.70 to $59.41 after having opened the day at $58.94.

In the past 52 weeks, shares of Tempe, Arizona-based company have traded between a low of $39.18 and a high of $65.50.

Shares are up 31.52% since the beginning of the year.

Expedia Inc. (EXPE) was upgraded to ‘Outperform’ from ‘Perform’ by Oppenheimer analysts on Thursday. The broker however, lowered its price target on the stock to from $157.

EXPE is currently printing a higher than average trading volume with the issue trading 5.58 million shares, compared to the average volume of 2.23 million. The stock began trading this morning at $139.00 to currently trade 3.64% higher from the prior days close of $134.17. On an intraday basis it has gotten as low as $137.00 and as high as $140.50.

Expedia shares have advanced 9.78% in the last 4 weeks and 10.58% in the past three months. Over the past 5 trading sessions the stock has gained 6.65%. The Bellevue, Washington-based company, which is currently valued at $18.05 billion, has a median Wall Street price target of $150 with a high target of $180.

Expedia Inc. is up 61.20% year-over-year, compared with a 3.50% gain in the S&P 500.

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