Analyst Downgrades: Tesla Motors, Inc., Intel Corporation, and Broadcom Corporation

Analysts downwardly revised their ratings on Tesla Motors Inc (TSLA), Intel Corporation (INTC), and Broadcom Corporation (BRCM)

by Josh Selway

Published on Mar 13, 2015 at 9:42 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on electric automaker Tesla Motors Inc (NASDAQ:TSLA), as well as semiconductor firms Intel Corporation (NASDAQ:INTC) and Broadcom Corporation (NASDAQ:BRCM). Here's a quick roundup of today's bearish brokerage notes on TSLA, INTC, and BRCM.

  • TSLA is 1.2% lower this morning at $188.85, after Deutsche Bank reduced its earnings estimates on the stock. The brokerage firm did keep its "buy" rating on the shares, though, and reiterated a $245 price target, which is well above the stock's current perch. The majority of analysts on the Street share this positive view, as eight brokerage firms covering Tesla Motors Inc rate it a "buy" or better, with five others handing out "hold" or worse recommendations. What's more, the security's average 12-month price target of $267.82 stands at a roughly 42% premium to current trading levels. This, despite TSLA's recent struggles. The stock has dropped over 15% in 2015.

  • It's been an interesting week for INTC. A rumor about a potential partnership with Apple Inc. (NASDAQ:AAPL) had the shares booming on Wednesday, but a revised first-quarter revenue forecast sent them lower yesterday. Today, the security is sitting south of the flatline once again, off 0.2% at $30.80, after a flurry of bearish analyst attention. No fewer than 17 analysts reduced their price targets on Intel Corporation. The lowest price was set by Bernstein, which cut its price target to $28 from $30 -- a discount to current levels -- and underscored an "underperform" rating. Looking to the charts, however, INTC has been strong on the charts, maintaining a year-over-year lead of nearly 26%.

  • BRCM was cut to "hold" from "buy" at Canaccord Genuity, which also dropped its price target by $3 to $47. FBR, on the other hand, raised its price target on the shares to $52 from $50, and reiterated an "outperform" opinion. Meanwhile, options traders have taken a bearish stance over the past 10 weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Broadcom Corporation's 50-day put/call volume ratio of 1.04 is higher than 97% of all similar readings from the past year. Put differently, puts have been bought to open over calls at a rate faster than what's normally seen. BRCM was last seen 0.2% higher at $44.81, adding to its 3.2% year-to-date lead.

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