Schaeffer's Trading Floor Blog

Upgrades & Downgrades: CAT, ISIL, FSLR, AIG, and Z

Analysts adjusted their ratings on CAT, ISIL, FSLR, AIG, and Z

by 9/14/2011 11:09 AM
Stocks quoted in this article:

Analysts are weighing in today on construction equipment concern Caterpillar Inc. (CAT - 83.41), integrated circuit specialist Intersil Corporation (ISIL - 11.12), alternative energy issue First Solar, Inc. (FSLR - 89.39), insurance giant American International Group, Inc. (AIG - 23.94), and real estate site Zillow, Inc. (Z - 35.06). Here's a quick roundup of today's upgrades and downgrades of note.

  • Shares of CAT have shed 1.9% so far today, after Wells Fargo cut its price target on the Dow component to $116 from $131. The stock is struggling beneath newfound resistance at its 80-week moving average, which was breached last Friday for only the second time since October 2009. Going forward, downtrending CAT could be at risk of more negative notes; Zacks tallies no fewer than 13 "buy" or better ratings, leaving plenty of room for potential downgrades.
  • Meanwhile, ISIL has edged fractionally higher, lifted by an upgrade to "hold" from "sell" at Citigroup. Late Monday, the tech firm slashed its revenue forecast, but CEO Dave Bell reassured investors that "inventory is stabilizing." As a result, the stock muscled higher yesterday, and ISIL is now testing resistance at its 10-week moving average. This trendline hasn't been surmounted on a weekly closing basis since May 27.
  • As for FSLR, the solar stock joined sector peer Suntech Power (STP) on Jefferies' bad side this morning. The brokerage firm trimmed its price target on FSLR to $125 from $132, prompting a 1.7% decline in the shares at last look. The shares wrapped up the month of August below the round-number $100 region for the first time since June 2007, and FSLR's decline has accelerated since breaching this key century-level support. Now, the stock is sitting on a steep year-to-date decline of 30.1%.
  • AIG was hit with a pair of price-target cuts today. Credit Suisse lowered its target to $29 from $32, while Deutsche Bank dropped its forecast to $29 from $31. The stock is down 0.9% today, with AIG clinging desperately to tenuous support at its 20-day moving average.
  • Finally, Z has swallowed a loss of 6.5% on the heels of a new "sell" rating at Craig-Hallum. The Wall Street newcomer is now set to snap a three-week winning streak atop its 10-day moving average. Today's "sell" suggestion is the first outright bearish note for Z, with Zacks reporting that the two other analysts tracking the shares maintain middling "hold" ratings.


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