Schaeffer's Trading Floor Blog

Analyst Update: General Electric Company, Avis Budget Group Inc., and Rocket Fuel Inc

Analysts adjusted their ratings on GE, CAR, and FUEL

by 8/6/2014 1:40 PM
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Analysts are weighing in today on Dow component General Electric Company (NYSE:GE), car rental concern Avis Budget Group Inc. (NASDAQ:CAR), and artificial intelligence developer Rocket Fuel Inc (NASDAQ:FUEL). Here's a quick look at today's brokerage notes on GE, CAR, and FUEL.

  • Bernstein weighed in on GE today, raising its outlook on the equity to "outperform" from "market perform," amid optimism toward the company's recent portfolio realignments. As a result, the stock is 1.9% higher this afternoon -- outperforming its fellow Dow components. Longer term, though, GE is down 9% year-to-date to trade at $25.51, and sentiment among the brokerage bunch is split. For example, five "buy" or better recommendations have been levied toward the equity, compared to five "holds" and not a single "sell." Meanwhile, the consensus 12-month price target of $29.78 stands at a 16.7% premium to current trading levels, and in territory not charted by General Electric Company since August 2008.

  • CAR is up 1.1% today -- extending its year-to-date lead to 49% -- after Monday night's better-than-expected earnings report and upwardly revised forecast prompted no fewer than three price-target hikes. The most optimistic outlook came from MKM Partners, which boosted its price target for CAR by $5 to $80, representing expected upside of 32.7% from the stock's current perch at $60.27. The security could benefit from another round of bullish brokerage notes, considering the average 12-month price target of $59 sits below present trading levels. Additionally, half of the six analysts covering the equity have doled out a "hold" or "strong sell" suggestion toward Avis Budget Group Inc.

  • After FUEL downwardly revised its full-year revenue guidance on inventory concerns, Evercore, Piper Jaffray, and Credit Suisse all cut their respective price targets on the equity. Needham, meanwhile, reduced its outlook for the shares to "buy" from "strong buy." Against this backdrop, the stock has shed 27.3% in today's session to trade at $18.00, and earlier tagged a fresh record low of $17.60. Today's bearish gap should be pleasing to one group of traders; specifically, short sellers. At present, nearly 24% of Rocket Fuel Inc's float is sold short.

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