Schaeffer's Trading Floor Blog

Analyst Downgrades: Google Inc, Citigroup Inc, and Amazon.com, Inc.

Analysts downwardly revised their ratings on GOOGL, C, and AMZN

by 4/21/2014 9:31 AM
Stocks quoted in this article:

Analysts are weighing in today on technology guru Google Inc (NASDAQ:GOOGL), financial kingpin Citigroup Inc (NYSE:C), and e-commerce platform Amazon.com, Inc. (NASDAQ:AMZN). Here's a quick roundup of today's bearish brokerage notes.

  • Bernstein joined the other GOOGL bears on Wall Street, slashing its price target to $700 from $750 this morning, in the wake of the stock's 3.6% earnings-induced fall to $543.34 on Thursday. Still, the average 12-month price target of $662.54 stands at a roughly 22% premium to GOOGL's current price, and 25 of the 29 covering analysts maintain their "buy" or better endorsements on the stock.

  • C -- which is down 7.5% year-to-date to trade at $48.22 -- received a $1 price-target cut to $67 at Nomura earlier today. In the options pits, meanwhile, Citigroup Inc's Schaeffer's put/call open interest ratio (SOIR) of 0.79 ranks in the bottom quartile of its 12-month range, indicating short-term speculators have been more call-heavy than usual toward the stock. Should C shares continue to fall, a capitulation of bullish bets could be in the cards, creating additional pressure on the charts.

  • Susquehanna lowered its price target on AMZN to $465 from $475, ahead of the company's Thursday evening earnings report. While Amazon.com, Inc. has dropped 18.5% year-to-date to trade at $324.91, its SOIR of 0.81 ranks the lowest of all other comparable readings from the past year, demonstrating short-term calls are being traded over puts at an annual-high pace right now.

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