Schaeffer's Trading Floor Blog

Analyst Downgrades: LinkedIn Corp, General Motors Company, and Lowe's Companies, Inc.

Analysts downwardly revised their ratings on LNKD, GM, and LOW

by 2/7/2014 9:24 AM
Stocks quoted in this article:

Analysts are weighing in today on professional networking site LinkedIn Corp (NYSE:LNKD), automotive specialist General Motors Company (NYSE:GM), and home improvement retailer Lowe's Companies, Inc. (NYSE:LOW). Here's a quick roundup of today's bearish brokerage notes.

  • The brokerage bunch was not too thrilled about LNKD's 2014 revenue forecast, as more than a dozen firms downwardly adjusted their positions on the stock. Among the bears on Wall Street were Cantor Fitzgerald and Evercore, which both slashed their respective price targets to $240 from $260 this morning. Ahead of last night's quarterly event, LinkedIn was up more than 80% on a year-over-year basis to perch at $223.45. Plus, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.56 ranks in the 77th annual percentile, meaning pre-earnings options bettors were picking up long calls over long puts at an accelerated rate during the past two weeks.

  • Deutsche Bank and RBC both dropped their respective price targets on GM to $48 from $52, following yesterday morning's poorly received fourth-quarter earnings report. Year-to-date, the equity has shed almost 14% to trade at $35.23, yet 10 of GM's covering analysts maintain "buy" or better endorsements. What's more, the average 12-month price target for General Motors Company comes in at $47.25, which stands in territory yet to be explored by the shares.

  • LOW -- which has lost about 6% since the start of 2014 to trade at $46.58 -- received a downgrade to "neutral" from "buy" at Goldman Sachs this morning. For comparison, nine analysts maintain "strong buy" endorsements, while eight have offered up tepid "hold" suggestions. Meanwhile, the average 12-month price target among covering analysts is $52.52, which represents expected upside to LOW's current price.

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