Schaeffer's Trading Floor Blog

Analyst Downgrades: The Procter & Gamble Company, Comcast Corporation, and Charles Schwab Corp

Analysts downwardly revised their ratings on PG, CMCSA, and SCHW

by 6/30/2014 9:32 AM
Stocks quoted in this article:

Analysts are weighing in today on consumer goods concern The Procter & Gamble Company (NYSE:PG), broadcast entertainment provider Comcast Corporation (NASDAQ:CMCSA), and financial services firm Charles Schwab Corp (NYSE:SCHW). Here's a quick roundup of today's bearish brokerage notes.

  • PG -- which is down a slim 2.7% this month to trade at $78.68 -- watched its price target drop to $87 from $88 at B. Riley last night. The firm's revision isn't far off the consensus 12-month price target among analysts, which stands at $87.32, or 11% above the shares' current perch. Ratings-wise, 10 brokerage firms have dished out "buy" or better endorsements on The Procter & Gamble Company, while eight maintain lukewarm "hold" recommendations. In fundamental news, meanwhile, former PG CEO Bob McDonald will be nominated by President Barack Obama to head the U.S. Department of Veterans Affairs.

  • Although CMCSA has gained 12.6% from its April 15 year-to-date low of $47.74 to perch at $53.77, Evercore lowered its price target on the stock to $62 from $63 last night. Meanwhile, in the options pits, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.81 ranks higher than 82% of comparable readings taken in the last 12 months. Simply stated, short-term speculators are more put-biased than usual toward Comcast Corporation right now. A continuation of the shares' upward trajectory could cause some of these option bears to hit the exits, potentially adding fuel to the stock's fire.

  • UBS slapped SCHW with a price-target cut to $32 from $33 this morning, even though the shares have tacked on 7.7% in June to trade at $27.14. Elsewhere, Charles Schwab Corp sports nine "hold" or worse ratings, compared to just three "strong hold" recommendations, and the average 12-month price target of $28.44 denotes slim expected upside to the stock's current price. As such, the door is still open for more upgrades and/or price-target hikes, which could give the equity an extra boost up the charts.

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