Analyst Downgrades: Zynga, Campbell Soup, ConAgra Foods

Analysts downwardly revised their ratings on Zynga Inc (ZNGA), Campbell Soup Company (CPB), and ConAgra Foods Inc (CAG)

Feb 13, 2015 at 9:40 AM
facebook X logo linkedin


Analysts are weighing in today on mobile gaming issue Zynga Inc (NASDAQ:ZNGA), as well as food concerns Campbell Soup Company (NYSE:CPB) and ConAgra Foods Inc (NYSE:CAG). Here's a quick roundup of today's bearish brokerage notes on ZNGA, CPB, and CAG.

  • ZNGA has tumbled more than 14% out of the gate to trade at $2.28, as last night's fourth-quarter revenue miss and disappointing outlook prompted a round of bearish brokerage notes. Specifically, no fewer than six brokerage firms slashed their price targets on the stock -- the worst of which came from Janney, which reduced its target to $2.25 from $2.50. Longer term, Zynga Inc has had a rough go of it, shedding more than half of its value in the last 52 weeks. Not surprisingly, bearish betting is popular on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), where ZNGA's 10-day put/call volume ratio of 0.66 sits just 2 percentage points from a 12-month peak. Adding insult to injury, rival King Digital Entertainment PLC (NYSE:KING) is surging on an earnings beat and an upbeat reaction from analysts.

  • CPB is down 2.5% to trade at $46.52 this morning, after reducing its fiscal 2015 profit and sales guidance. Also, the shares saw their price target trimmed by $1 to $42 at J.P. Morgan Securities, which likewise reiterated its "underweight" opinion. Today's slide represents a change of pace for Campbell Soup Company, which was sitting on an 8.5% year-to-date lead as of last night's close. On the sentiment front, analysts have blazed a bearish path toward the equity, handing out 11 "hold" or worse ratings, compared to a single "strong buy." Additionally, CPB's consensus 12-month price target of $42.91 stands at a discount to the current price.

  • Finally, CAG has dropped 3.1% in early trading to hover around $35.29, after cutting its 2015 profit forecast and naming a new CEO. Also weighing on the stock is a price-target cut to $37 from $38 at J.P. Morgan Securities. On the charts, this morning's pullback has ConAgra Foods Inc sitting in the red on a year-to-date basis, as a recent round of short covering has failed to lift the security. Specifically, short interest plummeted 37.3% during the latest reporting period, and now represents just 1.3% of CAG's available float.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI