Schaeffer's Trading Floor Blog

Analyst Downgrades: Intel Corporation, Citigroup Inc, and Ford Motor Company

Analysts downwardly revised their ratings on INTC, C, and F

by 4/2/2014 9:44 AM
Stocks quoted in this article:

Analysts are weighing in today on tech heavyweight Intel Corporation (NASDAQ:INTC), financial firm Citigroup Inc (NYSE:C), and automaker Ford Motor Company (NYSE:F). Here's a quick roundup of today's bearish brokerage notes.

  • INTC -- which is 0.6% lower year-to-date to perch at $25.76 -- received a price-target cut to $25 from $27 at Nomura, after yesterday outlining new innovation plans in China. Despite being a technical laggard, Intel Corporation has been popular among option bulls of late. In fact, the stock sports a 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.98, which ranks higher than 81% of comparable readings taken during the past 12 months. In other words, calls have been bought to open over puts at a near-annual-high rate during the past two weeks.

  • C -- which is down 8.3% on a year-to-date basis to trade at $47.80 -- saw its price target dropped to $52.50 from $55 at J.P. Morgan Securities this morning. Should Citigroup Inc's technical and fundamental woes continue, more downgrades and/or price-target cuts may be on the way, which could create additional pressure on the shares. Currently, 14 of the 21 covering analysts maintain "strong buy" recommendations on C, and the average 12-month price target of $59.07 represents significant expected upside to the stock's current price.

  • After F reported sales for March that topped analysts' expectations yesterday, Nomura overnight initiated coverage on the stock with a "neutral" rating and a price target of $15. Ford Motor Company has been in a technical rut for the past six months, losing close to 6% to trade at $16.18. Should the equity's downward trajectory continue, a potential round of price-target cuts may be in the cards, which could shove F further south. Right now, the consensus 12-month price target among covering analysts comes in at $17.97, denoting expected upside to the shares' current perch.

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