Analyst Downgrades: LeapFrog, Micron, and Wynn Resorts

Analysts downwardly revised their ratings on LeapFrog Enterprises, Inc. (NYSE:LF), Micron Technology, Inc. (NASDAQ:MU), and Wynn Resorts, Limited (NASDAQ:WYNN)

Jun 12, 2015 at 9:19 AM
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Analysts are weighing in today on children's education specialist LeapFrog Enterprises, Inc. (NYSE:LF), semiconductor firm Micron Technology, Inc. (NASDAQ:MU), and casino concern Wynn Resorts, Limited (NASDAQ:WYNN). Here's a quick roundup of today's bearish brokerage notes on LF, MU, and WYNN.

  • LF is smarting on the heels of disappointing fiscal fourth-quarter numbers, dropping nearly 17% ahead of the bell. Also weighing on the shares is a trio of price-target cuts from Sterne Agee CRT (to $2), Piper Jaffray (to $1.50), and Roth Capital (to $1.50). Leading up to last night's quarterly results, it had already been a dismal 2015 for LeapFrog Enterprises, Inc. -- which has plunged 56.1% year-to-date to rest at $2.07. Amid this downtrend, short interest has been on the rise, spiking 19% during the two most recent reporting periods. Currently, over 9% of LF's float is sold short, representing more than a week's worth of trading, at typical daily volumes.

  • MU is feeling the weight of a price-target cut to $32 from $39 at Pacific Crest, off 0.6% ahead of the bell. On the charts, the stock has plunged 28.5% year-to-date to trade at $25.02 -- just a shade above its annual low of $24.94, touched earlier this week. Despite recent negative notes from analysts, the vast majority remain positive on Micron Technology, Inc. Seventeen have doled out "buy" or better recommendations, compared to three "holds" and just one "strong sell." What's more, MU's consensus 12-month price target of $37.97 stands at a 52% premium to its current perch. In other words, the stage is set for a round of downgrades and/or additional price-target reductions.

  • WYNN saw Susquehanna slash its price target to $103 from $115. The bearish note is warranted, given that the security's plummeted 30% year-to-date to rest at $104.45, and is encountering resistance at its descending 20-day moving average. On the sentiment front, analysts have taken a largely skeptical stance toward Wynn Resorts, Limited. Eleven brokerage firms have handed out tepid "hold" assessments -- more than doubling the five "buy" or better ratings.


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