Notable Upgrades: Ciena (CIEN), Yahoo (YHOO), CyberArk Software (CYBR), Costco (COST), First Solar (FSLR)

Analysts at Northland Capital are out with a report this morning upgrading shares of Ciena Corporation (CIEN) with an ‘Outperform’ from ‘Market Perform’ rating. The firm set its price target for the company at $25/shr.

In the past 52 weeks, shares of Hanover, Maryland-based company have traded between a low of $17.65 and a high of $26.50 and are now at $20.08.

Shares are up 37.07% year-over-year and 24.21% year-to-date.
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Yahoo! Inc. (YHOO) was reiterated a ‘Buy’ by Sun Trust Rbsn Humphrey analysts on Thursday. The broker also raised its price target on the stock to $45 from $40.
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Analysts at JP Morgan (JPM) upgraded their rating on the shares of CyberArk Software, Ltd. (CYBR). In a research note published on Thursday, the firm lifted the name with an ‘Overweight’ from ‘Underweight’ rating.

On valuation measures, CyberArk Software Ltd. shares are currently priced at 81.82x this year’s forecasted earnings, compared to the industry’s 6.89x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.93 and 45.74, respectively. Price/Sales for the same period is 7.90 while EPS is $0.52.

Currently there are 8 analysts that rate CYBR a ‘Buy’, 5 rate it a ‘Hold’. One analyst rates it a ‘Sell’.

CYBR has a median Wall Street price target of $63.50 with a high target of $72.
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Costco Wholesale Corporation (COST) was reiterated as ‘Equal Weight’ with a $160 from $150 price target on Thursday by Barclays. Costco’s target was also raised to $175 from $165 at Argus, noting traffic, renewals, underlying sales remain strong.
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First Solar, Inc. (FSLR) rating of ‘Outperform’ was reiterated today at Oppenheimer with a price target increase of $66 from $61 (versus a $58.85 previous close).

FSLR was down $6.25 at $52.60 in midday trade, moving within a 52-week range of $39.18 to $65.50. The name, valued at $5.31 billion, opened at $54.32.

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