Schaeffer's Trading Floor Blog

Analyst Downgrades: 3D Systems Corporation, American International Group Inc, and The Boeing Company

Analysts downwardly revised their ratings on DDD, AIG, and BA

by 3/12/2014 9:40 AM
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Analysts are weighing in today on 3-D printing firm 3D Systems Corporation (NYSE:DDD), global insurance firm American International Group Inc (NYSE:AIG), and aerospace concern The Boeing Company (NYSE:BA). Here's a quick roundup of today's bearish brokerage notes.

  • While DDD enjoyed an upgrade at Stephens yesterday, the stock was hit with a price-target cut to $60 at BofA-Merrill Lynch this morning. The brokerage firm also reiterated an "underperform" rating on DDD. The equity has had a terrible time on the charts since the start of 2014, already dropping 35.8% to trade at $59.53. As such, short interest spiked 55% over the last two reporting periods, now accounting for 23.8 million shares. This represents about one-fourth of 3D Systems Corporation's available float.

  • AIG -- which is sitting just 3% lower on a year-to-date basis at $49.49 -- received a downgrade to "hold" from "buy" at Deutsche Bank earlier today. In American International Group Inc's options pits, short-term speculators have been leaning toward the call side of late, as the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.53 ranks 4 percentage points from a 12-month low. In other words, call open interest (relative to put open interest) among options expiring within the next three months is nearing annual-high levels.

  • UBS cut its price target on BA to $127 from $137, amid the company's most recent airline issues. On the charts, the equity is positioned13.6% below its all-time high of $144.57 ( tagged on Jan. 22) to trade at $124.87, yet 15 of its 21 covering analysts maintain "buy" or better endorsements. Plus, the average 12-month price target of $153.75 represents significant upside to the shares' current price.

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