Schaeffer's Trading Floor Blog

Analyst Downgrades: AGU, JDSU, and NVDA

Analysts downwardly revised their ratings on Agrium, JDS Uniphase, and Nvidia

by 5/25/2012 9:20 AM
Stocks quoted in this article:

Analysts are weighing in today on agricultural chemical company Agrium Inc. (AGU - 80.71), communications equipment specialist JDS Uniphase Corporation (JDSU - 9.91), and PC graphics giant Nvidia Corporation (NVDA - 12.11). Here's a quick roundup of today's bearish brokerage notes.

  • National Bank Financial started coverage of AGU with an "underperform" rating and $71 price target, with the brokerage firm predicting downside of about 12% from Thursday's close at $80.71. Most analysts have much higher hopes for the stock, which has gained upwards of 20% so far in 2012. The average 12-month price target for AGU arrives at $102.91 -- in territory the shares haven't explored since July 2008.

  • JDSU was hit with a price-target cut to $15 from $18 at Jefferies, even as the brokerage firm maintained its "buy" recommendation. The stock has been locked in a short-term slump lately, with JDSU trending lower beneath its 10-day and 20-day moving averages since the start of April. However, the shares are now resting on support in the $9-10 neighborhood, which has served as a technical floor for well over two years.

  • ThinkEquity cut its price target on NVDA to $13 from $14 and backed its "hold" rating, which happens to be the majority opinion on Wall Street. Currently, the stock has garnered 17 "hold" ratings from brokerage firms, compared to 12 "buy" or better recommendations. From a technical standpoint, NVDA has shed 12.6% of its value year-to-date, but the stock is now resting on support in the $12 region. This area contained NVDA's lows during the second half of 2011, and could continue to provide a technical backstop.

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