Analysts: Tesla Motors Set to Cruise and 3 Other Research Notes to Look Over
Tesla Motors (NASDAQ:TSLA): Morgan Stanley says Tesla shares may be on cruise control for the rest of 2013, given appropriately high expectations, potential positive news flow from early European and Asian deliveries, and lack of market moving developments on Model X of Gen 3 for several months. The shares are Overweight rated.
EZchip (NASDAQ:EZCH): Benchmark Co. believes EZchip investor concerns over Cisco’s (NASDAQ:CSCO) new processor and ZTE using Broadcom’s (NASDAQ:BRCM) Sandburst processors are overblown. The firm thinks shares are pricing in a worst-case scenario and sees a buying opportunity at current levels. Benchmark Co. adds that EZchip management attempted to clarify the concerns in a press release earlier Tuesday.
Herbalife (NYSE:HLF): DA Davidson believes that Buy-rated Herbalife will announce an aggressive leveraged buyback once its audited financials are released in the next couple of weeks. The firm notes that a $2 billion tender offer at $75 per share would be accretive by $1 per share and will put the bear case at rest once and for all.
Cracker Barrel (NASDAQ:CBRL): Raymond James reiterated its Underperform rating on Cracker Barrel following an activist shareholder letter discussing the merits of levering the company’s balance sheet to pay a one-time $20 per share dividend to shareholders. The analyst views the special dividend as unlikely and remains cautious on shares given the rich valuation.