Schaeffer's Trading Floor Blog

Analyst Downgrades: Google Inc, and Baidu

Analysts downwardly revised their ratings on GOOG and BIDU

by 2/7/2013 9:14 AM
Stocks quoted in this article:
Analyst Downgrades: Google Inc, and Baidu

Analysts are weighing in today on search engine sites Google Inc (NASDAQ:GOOG - 770.17) and Baidu, Inc. (ADR) (NASDAQ:BIDU - 98.37). Here's a quick roundup of today's bearish brokerage notes.

  • GOOG was cut to "hold" from "buy" at Pivotal Research this morning, after announcing plans to acquire Channel Intelligence Inc. for about $125 million in cash. The equity has trekked almost 9% higher in 2013, and outpaced the broader S&P 500 Index (SPX) by 6 percentage points during the past 60 sessions, yet near-term traders sport a bearish attitude toward GOOG. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.97 ranks higher than 88% of similar annual readings, indicating short-term options players have rarely been more put-heavy toward the stock within the past year.

  • BIDU -- which has surrendered nearly 25% during the last 12 months -- was lowered to "hold" from "buy" at T.H. Capital ahead of the open. However, despite today's downbeat attention, the sentiment scales among the brokerage bunch remain bullishly slanted. The equity presently boasts 10 "strong buys" and one "buy" endorsement, compared to five "holds," and not a single "sell" rating. From a contrarian perspective, this leaves plenty of room for additional downward analyst adjustments, which could exacerbate BIDU's technical troubles.

Correction: Molycorp Inc (MCP) was initially noted to have received a downgrade at J.P. Morgan Securities. The brokerage firm actually upgraded the stock to "neutral" from "underweight." We apologize for any confusion this may have caused.


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