Tesla Inc. (NASDAQ: TSLA) was started with an Underperform rating and assigned a $280 price target at Jefferies. That target that is more than $100 under the current share price of about $385. The firm noted that the coverage comes with a heavy heart as its achievements to-date and vision are impressive, but the firm does not believe that Tesla’s vertically integrated business model can be scaled up as profitably and quickly as the consensus thinks and valuation multiples imply.
Under Armour Inc. (NYSE: UAA) was downgraded to Underperform from Market Perform at Wells Fargo. Its shares were down 2.4% at $17.37 on Monday and were indicated down another 2.9% or so at 16.90 on Tuesday. Under Armour has a 52-week range of $15.92 to $40.14, and it had a $19.81 consensus target price.
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Other key analyst calls were seen as follows:
Cimarex Energy (NYSE: XEC) was started as Outperform and assigned a $135 price target (versus a $107.25 close) at Imperial Capital.
Farmland Partners Inc. (NYSE: FPI) was started as Market Perform at Raymond James. At $8.90, it has a 52-week range of $8.06 to $11.97. The consensus target price was $9.75.
Hologic Inc. (NASDAQ: HOLX) was reiterated as Buy with a $56 price target (versus a $37.36 close) at Argus.
Hudson Pacific Properties Inc. (NYSE: HPP) was started with a Buy rating and assigned a $39 price target (versus $31.81 close) at Goldman Sachs. This REIT focuses on Class-A properties focused on technology, media and entertainment tenants in Northern and Southern California and the Pacific Northwest.
Intuit Inc. (NASDAQ: INTU) was started with an Outperform rating at William Blair.
Itron Inc. (NASDAQ: ITRI) was downgraded to Hold from Buy with a $78 price target (versus a $76.50 close) at Canaccord Genuity.
Kilroy Realty Corp. (NYSE: KRC) was started as Neutral at Goldman Sachs.
Melco Resorts & Entertainment Ltd. (NASDAQ: MLCO) was raised to Buy from Neutral with a $29 price target (versus a $23.01 close) at Instinet.
MyoKardia Inc. (NASDAQ: MYOK) was reiterated as Outperform and the price target was raised to $55 from $45 at Credit Suisse.
NetApp Inc. (NASDAQ: NTAP) was raised to Buy from Neutral with a $45 price target (versus a $40.63 close) at UBS.
Orbital ATK Inc. (NYSE: OA) was downgraded to Hold from Buy at Argus after the Northrup Grumman acquisition was announced.
Procter & Gamble Co. (NYSE: PG) was reiterated as Buy at Merrill Lynch, which raised its price objective to $100 from $98. Jefferies reiterated its Buy rating and raised its target to $104 from $103. Shares closed at $93.15 on Monday.