Schaeffer's Trading Floor Blog

Analyst Downgrades: Twenty-First Century Fox Inc, Time Warner Inc, and DuPont

Analysts downwardly revised their ratings on FOXA, TWX, and DD

by 7/23/2014 9:22 AM
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Analysts are weighing in today on TV titans Twenty-First Century Fox Inc (NASDAQ:FOXA) and Time Warner Inc (NYSE:TWX), as well as big-cap chemical company E I Du Pont De Nemours And Co (NYSE:DD). Here's a quick roundup of today's bearish brokerage notes.

  • FOXA -- which is in hot pursuit of TWX -- was downgraded to "underperform" from "outperform" at Cowen and Company this morning. In addition, the brokerage firm slashed its price target to $29 from $38, the former of which would represent a new annual low for the shares. On the charts, Twenty-First Century Fox Inc is down 5.2% year-to-date, closing at $33.34 yesterday, yet most analysts remain optimistic. In fact, the security boasts 13 "strong buys" and one "buy" endorsement, compared to one lukewarm "hold" and not a single "sell" recommendation.

  • Cowen and Company also offered its two cents on TWX -- which is attempting to dodge a hostile takeover by FOXA -- downgrading the equity to "market perform" from "outperform." The shares are up nearly 30% in 2014, and touched a decade-plus peak on Monday, as the aforementioned bid sent the security soaring on July 16. Most analysts are already in the bullish camp, though. Time Warner Inc has earned 16 "strong buy" opinions and one "buy," compared to five "holds" and no "sells." On Tuesday, TWX finished at $86.78.

  • Finally, DD -- which closed at $64.95 yesterday -- is still feeling the heat from Monday's weaker-than-expected earnings and guidance. This morning, J.P. Morgan Securities downgraded the stock to "neutral" from "overweight," and Susquehanna last night trimmed its price target on E I Du Pont De Nemours And Co to $75 from $80. From a longer-term perspective, the equity is now clinging to its year-to-date breakeven level, and is testing support in the $64.50 neighborhood.

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