Schaeffer's Trading Floor Blog

Analyst Downgrades: TripAdvisor Inc, JPMorgan Chase & Co., and Qihoo 360 Technology Co Ltd

Analysts downwardly revised their ratings on TRIP, JPM, and QIHU

by 5/5/2014 9:29 AM
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Analysts are weighing in today on travel website TripAdvisor Inc (NASDAQ:TRIP), financial firm JPMorgan Chase & Co. (NYSE:JPM), and Chinese Internet concern Qihoo 360 Technology Co Ltd (NYSE:QIHU). Here's a quick roundup of today's bearish brokerage notes.

  • TRIP -- which announced this morning it has acquired London-based Tripbod -- received a price-target cut to $87 from $90 at Susquehanna in pre-market trading. Technically speaking, TripAdvisor Inc has shed about 18% over the past two months to trade at $82.60. However, the equity has remained popular among short-term option players. In fact, TRIP's Schaeffer's put/call open interest ratio (SOIR) of 0.57 ranks in the bottom 10% of its 12-month range, indicating call open interest (compared to put open interest) is nearing annual-low levels among options expiring within the next three months. Of note, the travel website is slated to report first-quarter earnings after the close tomorrow, May 6.

  • After forecasting a 20% decline for markets revenue in the second quarter on Friday, JPM saw its price target cut to $64 from $66 at Morgan Stanley, and to $68 from $72 at Citigroup. Elsewhere, JPMorgan Chase & Co. -- which has lost 8.4% over the past month to trade at $55.58 -- maintains mostly bullish brokerage recommendations, with 15 of the 20 covering analysts dishing out "buy" or better endorsements. Furthermore, the average 12-month price target of $64.90 represents expected upside of nearly 17% from the shares' current perch.

  • QIHU -- which is down about 19% on a two-month basis to trade at $88.38 -- received a $21 price-target cut to $125 at Nomura this morning. Elsewhere, the brokerage crew has been slow to react to Qihoo 360 Technology Co Ltd's negative price action. The average 12-month price target among covering analysts comes in at $131.90, denoting a 49.2% premium to the shares' current perch. Ratings-wise, nine analysts maintain "strong buy" recommendations, while just one has dished out a "hold" rating, with not one "sell" suggestion in sight.

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