Schaeffer's Trading Floor Blog

Analyst Downgrades: ATML, ETFC, and WTW

Analysts downwardly revised their ratings on Atmel, E*Trade Financial, and Weight Watchers

by 5/3/2012 9:31 AM
Stocks quoted in this article:

Analysts are weighing in today on semiconductor stock Atmel Corporation (ATML - 8.99), discount broker E*Trade Financial Corporation (ETFC - 10.46), and diet guru Weight Watchers International, Inc. (WTW - 76.01). Here's a quick roundup of today's bearish brokerage notes.

  • Following its first-quarter results, ATML has been hammered with negative analyst notes today. Capstone Investments and Craig-Hallum both downgraded the stock to "hold" from "buy"; FBR cut its price target to $10 from $14; ThinkEquity trimmed its target to $12 from $13, and Barclays reduced its target to $11 from $12. ATML is down 10.5% ahead of the bell, with the stock set to deepen its 52-week loss of 39%.
  • BGB Securities started coverage of ETFC with a rare "sell" rating. Most analysts are on the fence, with nine out of 11 firms doling out a lukewarm "hold" rating. Checking out the charts, the iffy technical outlook could be the reason for this general skepticism. Since early February, the stock has been ushered higher by its 10-week and 20-week moving averages -- but ETFC remains pinned below resistance in the $11-$11.50 area, which has been giving the shares trouble since last August.
  • WTW was hit with a trio of negative notes this morning. Barclays lowered its target to $84 from $92, J.P. Morgan cut its target to $81 from $88, and Wedbush pared its target to $68 from $82. Apparently, brokers are none too pleased with the company's full-year financial guidance, which hit the Street last night. WTW is poised to plunge nearly 14% at the open, after spending the past several sessions unsuccessfully testing newfound resistance at its 40-day moving average.


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