Notable Upgrades: Alphabet Inc. (GOOG), Avago Technologies (AVGO), SolarCity (SCTY), Ciena Corp (CIEN), SunPower (SPWR)

Analysts at Pacific Crest are out with a report today raising shares of Alphabet Inc. (GOOG) to $850 from $820.

Alphabet Inc. shares are currently priced at 31.40x this year’s forecasted earnings, compared to the industry’s 9.64x earnings multiple. Ticker has a forward P/E of 21.83 and trailing-12 price-to-sales ratio of 7.09. EPS for the same period is $23.72.

In the past 52 weeks, shares of Mountain View, California-based search giant have traded between a low of $486.23 and a high of $775.96 and are now at $744.86.

Shares are up 40.45% since the beginning of the year.

Analysts at RBC Capital Markets upgraded their rating on the shares of Avago Technologies Limited (AVGO). In a research note published on Monday, the firm lifted the name with a ‘Top Pick’ from ‘Outperform’ rating and set a 12-month base case estimate of $170 from $155 per share.

On valuation measures, Avago Technologies shares are currently priced at 29.76x this year’s forecasted earnings, compared to the industry’s 10.04x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.54 and 13.81, respectively. Price/Sales for the same period is 5.68, while EPS is $4.85. Currently there are 24 analysts that rate AVGO a ‘Buy’, 2 rate it a ‘Hold’. No analyst rates it a ‘Sell’.

AVGO has a median Wall Street price target of $171 with a high target of $185.

SolarCity Corporation (SCTY) was reiterated an ‘Overweight’ by Morgan Stanley (MS) analysts on Monday. The broker also raised its price target on the stock to $104 from $86.

SCTY is down $0.27 at $56.64 on normal volume. Midway through trading Monday, 3.12 million shares of SolarCity Corp. have exchanged hands as compared to its average daily volume of 5.04 million shares. The stock has ranged in a price between $55.40 to $58.50 after having opened the day at $57.40.

Ciena Corporation (CIEN) was upgraded to ‘Buy’ from ‘Hold’ by Jefferies analysts on Monday.

CIEN is currently printing a higher than average daily trading volume with the issue trading 3.1 million shares, compared to the average volume of 3.54 million. The stock began trading this morning at $19.96 to currently trade 2.27% higher from the prior days close of $19.80. On an intraday basis it has gotten as low as $19.85 and as high as $20.29.

SunPower Corporation (SPWR) was reiterated as ‘Overweight’ with a $43 from $41 price target on Monday by Morgan Stanley.

CIEN shares recently gained $0.46 to $20.26. The stock is up 2.75% year-over-year and has gained roughly 2% year-to-date. In the past 52 weeks, shares of Hanover, Maryland-based company have traded between a low of $17.86 and a high of $26.50.

Ciena Corp. closed Friday at $19.80. The name has a total market cap of $2.75 billion.

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