Stocks quoted in this article:
Analysts are weighing in today on rare-earths specialist Molycorp, Inc. (NYSE:MCP - 16.07), Finnish telecom stock Nokia Corporation (NYSE:NOK - 2.27), and car-sharing concern Zipcar, Inc. (NASDAQ:ZIP - 10.63). Here's a quick roundup of today's bearish brokerage notes.
- After the company last night confessed to softer-than-forecast second-quarter revenue, MCP today was hit with a couple of price-target cuts. Dahlman Rose dropped its target to $36, while ThinkEquity slashed its forecast to $15. MCP, which settled Thursday at $16.07, sports a lofty average 12-month price target of $35.90 -- which means additional negative notes could be in store. In electronic trading, the shares have plummeted 15.7%, putting MCP on pace to open at a new two-year low of $13.53.
- NOK was cut to "sell" from "neutral" at Goldman Sachs, but the stock has shrugged off this downgrade to rally 3.1% in pre-market action. With 20 out of 22 analysts already maintaining a "hold" or "sell" rating on the security, it seems that today's bearish note is simply another drop in the bucket. Despite the early advance, NOK remains pinned below resistance at its 80-day moving average, which has served as a technical roadblock since early April.
- Last night, ZIP made waves by taking a hatchet to its revenue guidance -- and analysts are punishing the stock for it this morning. Needham downgraded the shares to "hold" from "buy," while Cowen and J.P. Morgan both cut their ratings to "neutral." Morgan Stanley chimed in with a downgrade to "underweight" from "overweight," and Oppenheimer lowered the stock to "perform" from "outperform." ZIP has spiraled to a loss of 35% ahead of the bell, and the shares are currently poised to open at a new record low of $6.95.