Schaeffer's Trading Floor Blog

Upgrades & Downgrades: YHOO, OPEN, PCLN, FITB, and STI

Analysts adjusted their ratings on YHOO, OPEN, PCLN, FITB, and STI

by 12/14/2011 10:48 AM
Stocks quoted in this article:

Analysts are weighing in today on Internet search issue Yahoo Inc. (YHOO - 14.90), restaurant reservation specialist OpenTable, Inc. (OPEN - 38.41), online travel site Priceline.com Incorporated (PCLN - 454.28), and regional lenders Fifth Third Bancorp (FITB - 11.85) and SunTrust Banks, Inc. (STI - 16.66). Here's a quick roundup of today's upgrades and downgrades of note.

  • Starting with YHOO, the tech stock has swallowed a loss of 3.4% after Goldman Sachs resumed coverage with a "sell" rating and a $14 price target. As a result of today's analyst-induced downturn, the equity is on pace to end the session beneath its 80-day moving average for the first time since Oct. 3. Most analysts maintain a more polite opinion of YHOO, with Zacks reporting 12 "buy" or better ratings, along with 13 "holds" -- and not a single other "sell" rating to be found.
  • Goldman also weighed in on a slew of other Internet issues today, doling out a middling "neutral" rating and $44 price target for OPEN along the way. Despite a negative start to the session, OPEN has bounced back to a gain of 2.4% at last look. However, due to the equity's drastic year-to-date decline of 46.8%, there are quite a few technical hurdles looming overhead to thwart OPEN's rally -- including its 40-day moving average, which is currently located just south of the round-number $40 area.
  • Continuing with the Goldman theme, PCLN scored a "buy" rating from the influential brokerage firm, along with a $610 price target. For the record, PCLN's current all-time high stands at $561.88 -- so, it's safe to say that Goldman Sachs has high hopes for the stock going forward. However, traders aren't quite convinced of the bullish prospects for PCLN, with the shares down 1.8% in mid-morning action. For the calendar year, though, the stock is resting on a healthy gain of 15.8%.
  • Despite receiving some bullish attention from Fitch earlier this week, FITB was hit with a downgrade to "market perform" from "outperform" at Bernstein late last night. The equity is off 0.5% so far today, extending a recent pullback from resistance at its 50-week moving average. This looming trendline has served as a stubborn technical ceiling for FITB since late April.
  • On the other hand, Bernstein holds a much more upbeat opinion on STI, as the brokerage firm hiked its rating on the stock to "outperform" from "market perform." STI has added 1.8% in today's trading, chipping away at its formidable year-to-date deficit of 44.5%. Of course, after tagging a fresh two-year low of $16.15 on Tuesday, beaten-down STI was probably due for a bounce.


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