Schaeffer's Trading Floor Blog

Analyst Downgrades: Amazon.com, Inc., Apple Inc. (AAPL), and Potash Corp./Saskatchewan (USA)

Analysts downwardly revised their ratings on AMZN, AAPL, and POT

by 1/31/2014 9:43 AM
Stocks quoted in this article:

Analysts are weighing in today on online retailer Amazon.com, Inc. (NASDAQ:AMZN), electronics expert Apple Inc. (NASDAQ:AAPL), and agriculture giant Potash Corp./Saskatchewan (USA) (NYSE:POT). Here's a quick roundup of today's bearish brokerage notes.

  • AMZN took an earnings hit last night, sending the shares 8% lower right out of the gate to trade at $370.58. Subsequently, the stock received more than a dozen brokerage notes, both positive and negative. Included in the mix were Citigroup and Cantor, which cut their price targets to $454 from $457, and to $415 from $425, respectively. Heading into the quarterly announcement, Amazon.com, Inc. maintained 22 "buy" or better endorsements, six "holds," and not a single "sell" or worse suggestion. Plus, its average 12-month price target of $423.69 represents expected upside from its current perch.

  • AAPL -- which has already shed more than 11% in 2014 to trade at $495.92 -- saw its price target drop 5% to $650 at Exane BNP Paribas this morning. Elsewhere, the brokerage crew is optimistic toward Apple Inc., as the equity is looking at a consensus 12-month price target of $598.85, and 27 "buy" or better recommendations (compared to nine "holds" and zero "sell" or worse ratings).

  • POT has lost more than 3% this week to trade at $30.71, partly due to yesterday morning's poorly received earnings report. With that being said, Raymond James and RBC cut their price targets by $1 to $36 and C$34, respectively, while Canaccord Genuity dropped its price target by $2 to $30. (Meanwhile, TD Securities upped its rating on the stock.) In the options pits, however, activity on Potash Corp./Saskatchewan (USA) among the short-term traders has been more call-heavy than usual, as the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.71 is lower than 83% of comparable readings from the past year.

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