Schaeffer's Trading Floor Blog

Analyst Downgrades: Juniper Networks, Inc., SINA Corp, and Morgan Stanley

Analysts downwardly revised their ratings on JNPR, SINA, and MS

by 2/26/2014 9:39 AM
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Analysts are weighing in today on network infrastructure expert Juniper Networks, Inc. (NYSE:JNPR), Chinese online media concern SINA Corp (NASDAQ:SINA), and financial firm Morgan Stanley (NYSE:MS). Here's a quick roundup of today's bearish brokerage notes.

  • Though JNPR has tacked on 18% already this year to perch at $26.72, Piper Jaffray downgraded the stock to "neutral" from "overweight" this morning. In the options pits, however, the equity sports a Schaeffer's put/call open interest ratio (SOIR) of 0.40, with calls outnumbering puts by a margin of 5-to-2 among options expiring within three months. This ratio ranks just 6 percentage points from a 12-month low, further highlighting the heavier-than-usual demand for calls over puts among short-term speculators.

  • SINA saw a post-earnings decline of 9.3% yesterday to land at $68.98. As such, the stock received another bearish brokerage note overnight, when Jefferies cut its price target to $82 from $85. Elsewhere, investors also appear to be upping the bearish ante on SINA Corp. Over the past two reporting periods, short interest on the equity grew 33.7%, and now accounts for 4.5 million shares. This isn't surprising, considering SINA's year-to-date drop of more than 17%.

  • MS -- which has shed 5.3% year-to-date to trade at $29.71 -- received a price-target cut to $38 from $39 at UBS earlier today. By comparison, the average 12-month price target among analysts comes in at $33.72, denoting a slim premium to Morgan Stanley's current price. Ratings-wise, the equity has received nine "strong buy" endorsements, and eight tepid "hold" suggestions. Meanwhile, the company just announced that it reached "an agreement in principle" with the Securities and Exchange Commission, where MS will pay $275 million to settle litigation stemming from the financial crisis.

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