Stocks quoted in this article:
Analysts are weighing in today on gaming guru Caesars Entertainment Corporation (NASDAQ:CZR - 9.00), Finnish telecom firm Nokia Corporation (NYSE:NOK - 1.80), and electronics retailer RadioShack Corporation (NYSE:RSH - 3.91). Here's a quick roundup of today's bearish brokerage notes.
- While sector peer LVS scored a bullish nod from the brokerage firm today, RBC offered up a gloomy "underperform" rating on CZR. In fact, analysts are unanimously skeptical of the stock, with not one of the four analysts following CZR deeming it worthy of a "buy" recommendation. It's been a rough ride for the Nasdaq newcomer in recent months, with the shares guided lower by resistance at their 10-day and 20-day moving averages since mid-May. Just last week, CZR broke below the $10 area and tumbled into single-digit territory, and this looming round-number level could emerge as another layer of resistance going forward.
- There's plenty of negative news for NOK this morning. In addition to a major telecom-sector profit warning, the stock was slapped with a downgrade to "underperform" from "hold" by analysts at Jefferies. As a result, the shares have slid 0.6% ahead of the bell, widening their year-to-date deficit of 62.7%. Currently, NOK is set to open just a few pennies away from its annual low of $1.77.
- Barclays cut its price target in half on RSH, dropping the forecast to $3 from $6 and backing an "equal weight" opinion. The shares are 0.3% lower as a result, extending their longer-term swoon. RSH is already down nearly 69% over the past 52 weeks, and is pinned beneath familiar resistance at its descending 10-week moving average. It's no wonder, then, that only one analyst out of 20 considers the stock a "buy."