Stocks quoted in this article:
Analysts are weighing in today on alternative energy concerns SolarCity Corp (NASDAQ:SCTY) and Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE), plus car rental service Hertz Global Holdings, Inc. (NYSE:HTZ). Here's a quick roundup of today's bearish brokerage notes.
- Goldman Sachs and Baird slashed their price targets on SCTY to $85 from $88, and to $75 from $81, respectively, after the company last night forecast deeper-than-expected losses for the current quarter. (Roth, meanwhile, upped its price target by $15 to $80.) While SolarCity Corp has tacked on 29.3% so far in 2014 to trade at $73.11, short interest grew 6.7% during the latest reporting period, bringing the total number of shares sold short to 9.7 million. This accounts for more than one-fourth of the equity's available float.
- BofA-Merrill Lynch downgraded YGE to "neutral" from "buy," while Deutsche Bank cut its price target to $8 from $10, after the shares plunged 8.3% yesterday on relatively lousy fourth-quarter earnings results. Elsewhere, the average 12-month price target among analysts comes in at $7.36, denoting a 36% premium to the shares' current price of $5.36. Ratings-wise, Yingli Green Energy Hold. Co. Ltd. (ADR) has received only two "strong buy" endorsements and two "hold" suggestions.
- Spinoff news and a fourth-quarter earnings miss for HTZ led J.P. Morgan Securities to drop its price target on the stock to $33 from $35. Though Hertz Global Holdings, Inc. has had a rocky start to 2014, shedding 4.5% so far to trade at $27.32, five analysts maintain "strong buy" endorsements on the stock, while only one has dished out a "strong sell" suggestion. Furthermore, the consensus 12-month price target of $30.40 represents expected upside to the shares' current price.