Schaeffer's Trading Floor Blog

Analyst Downgrades: CZR, F, and TIBX

Analysts downwardly revised their ratings on Caesars, Ford Motor, and Tibco Software

by 6/29/2012 9:16 AM
Stocks quoted in this article:

Analysts are weighing in today on casino operator Caesars Entertainment Corporation (NASDAQ:CZR - 11.32), automaker Ford Motor Company (NYSE:F - 10.09), and tech stock Tibco Software Inc. (NASDAQ:TIBX - 26.83). Here's a quick roundup of today's bearish brokerage notes.

  • Wall Street newcomer CZR was downgraded to "underperform" from "neutral" at Bank of America-Merrill Lynch. This is the lone outright bearish rating for the stock; prior to today's negative note, all four brokerage firms following CZR maintained an iffy "hold" recommendation. The stock has been guided lower since early May by its 10-day and 20-day moving averages, and there could be more downgrades in store if CZR continues to underwhelm on the charts.

  • Citigroup cut its price target on F to $14 from $15, even as it backed a "buy" rating on the shares. The stock is down 1.3% ahead of the bell, bucking the day's bullish pre-market bias. In fact, F is on track to open the day on the south side of the $10 level, which hasn't been violated on a weekly closing basis since late November.

  • Following last night's quarterly report, TIBX was hit with a price-target cut to $37 from $40 at Susquehanna, which still maintains a "positive" rating on the stock. This new target represents a premium of nearly 38% to Thursday's close at $26.83. TIBX is poised to pop 6.2% out of the gate, building on its impressive year-to-date rally of 12.2%. This post-earnings jump should aid TIBX's rebound from support at its 20-month moving average, which has cushioned the equity's lows since last August.


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