Notable Upgrades: Tesla (TSLA), Johnson & Johnson (JNJ), HP Inc. (HPQ), Finisar (FNSR)

Tesla Motors, Inc. (TSLA) was upgraded to ‘Outperform’ from ‘Neutral’ by Robert W. Baird analysts on Monday. The broker also raised its price target on the stock to $300 from $230 noting that while they were concerned about the rate of Model X deliveries, recent data is showing accelerating production of the Model X.

TSLA began trading this morning at $212.65 to currently trade 3.81% higher from the prior days close of $207.50. On an intraday basis it has gotten as low as $210.64 and as high as $215.97.

Analysts at Goldman Sachs (GS) are out with a report this morning upgrading shares of Johnson & Johnson (JNJ) with a ‘Neutral’ from ‘Sell’ rating. The firm raised its price target on the stock to $120 from $116 pointing to the under-appreciated growth potential of J&J’s consumer division. Goldman believes JNJ’s consumer business is worth more than $40 billion.

On valuation metrics, Johnson & Johnson shares are currently priced at 19.61x this year’s forecasted earnings. Ticker has a forward P/E of 15.60 and t-12 price-to-sales ratio of 4.24. EPS for the same period is $5.48.

In the past 52 weeks, shares of New Brunswick, New Jersey-based health care company have traded between a low of $81.79 and a high of $107.99 and are now at $107.44.

So far this morning, JNJ is indicated -0.23% to $107.62. Shares are up 11.12% year-over-year and 5.62% since the beginning of the year.

HP Inc. (HPQ) was reiterated a ‘Sector Perform’ by RBC Capital Markets analysts on Monday. The broker also raised its price target on the stock to $12 from $11.

HPQ is down $0.21 at $11.50 on normal volume. Midway through morning trading Monday, 2.14 million shares of HP Inc. have exchanged hands as compared to its average daily volume of 17.18 million shares. The stock has ranged intraday in a price between $11.49 – $11.71 after having opened the day at $11.63.

In the past 52 weeks, shares of Palo Alto, California-based company have traded between a low of $8.91 and a high of $16.17.

Shares are down 18.63% year-over-year ; almost flat year-to-date.

Finisar Corp. (FNSR) rating of ‘Neutral’ was reiterated today at MKM Partners with a price target increase of $19 from $13.75 (versus a $17.15 previous close).

FNSR was down $0.16 at $16.99 in late morning trading on Monday, moving within a 52-week range of $10.66 to $23.38. The name, valued at $1.82 billion, opened at $16.87.

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