Schaeffer's Trading Floor Blog

Analyst Downgrades: Facebook Inc (FB), Transocean LTD, and The Buckle, Inc.

Analysts downwardly revised their ratings on FB, RIG, and BKE

by 3/17/2014 9:26 AM
Stocks quoted in this article:

Analysts are weighing in today on social networking kingpin Facebook Inc (NASDAQ:FB), oil-and-gas company Transocean LTD (NYSE:RIG), and casual apparel retailer The Buckle, Inc. (NYSE:BKE). Here's a quick roundup of today's bearish brokerage notes.

  • Argus turned the tables on FB this morning, when the brokerage firm downgraded the stock's rating to "hold" from "buy." Elsewhere, the equity -- which has advanced more than 154% over the past 12 months to perch at $67.72 -- saw a 10.3% spike in short interest during the past two reporting periods, bringing the total number of shares sold short to 37.7 million. This ample amount of sideline cash may trigger short-covering activity in the near term, which could provide additional technical support for Facebook Inc.

  • RIG -- which has lost 21.4% year-to-date to trade at $38.84 -- received a price-target cut to $50 from $60 at Credit Suisse earlier today. To no surprise, investors have grown increasingly bearish on Transocean LTD. Short interest climbed 38.2% over the past two reporting periods, and now accounts for 10.3% of the equity's available float. It would take more than a week to cover these bearish bets, at the shares' average pace of trading.

  • Cowen and Company lowered its price target on BKE to $45 from $50, following the company's fourth-quarter earnings report on Friday. Other brokerage firms appear to be bearish toward The Buckle, Inc., as well. Currently, the stock sports five "hold" ratings, and three "sell" or worse suggestions. Plus, the average 12-month price target of $45.60 is just a stone's throw away from the shares' current perch at $45.19. Technically speaking, BKE took a hit last week, plunging 5.5%.

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