Analyst Downgrades: Micron Technology, Zoetis, and Etsy

Analysts downwardly revised their ratings on Micron Technology, Inc. (NASDAQ:MU), Zoetis Inc (NYSE:ZTS), and Etsy Inc (NASDAQ:ETSY)

Jun 26, 2015 at 9:44 AM
facebook X logo linkedin


Analysts weighed in on chipmaker Micron Technology, Inc. (NASDAQ:MU), animal health issue Zoetis Inc (NYSE:ZTS), and e-commerce concern Etsy Inc (NASDAQ:ETSY). Here's a quick roundup of today's bearish brokerage notes on MU, ZTS, and ETSY.

  • MU is down 16.4% at $20.08 -- an annual-low  -- after the firm's fiscal third-quarter earnings and dire current-quarter revenue outlook was met with a round of downbeat analyst notes. Included in the bunch was a price-target cut to $30 from $34 at Cowen and Company, which cited concerns over a buildup in inventory and lackluster expectations for DRAM and NAND. Morgan Stanley, meanwhile, offered up the most skeptical outlook, lowering its price target to $19 from $21. It's already been a tough year for Micron Technology, Inc., which was off more than 31% even before today's fall. While analysts have been taking a hatchet to their ratings recently, there is still plenty of room for more bearish brokerage notes. Currently, 81% of those covering the shares maintain a "buy" or better rating.

  • ZTS popped to a record high of $55.38 yesterday, following reports that Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is looking to bid on the company. Today, the stock is retreating from this notable milestone -- down 8.2% at $50.82 -- after receiving mixed messages from BMO. Specifically, the brokerage firm reduced its outlook to "market perform" from "outperform," but boosted its price target to $57 from $51. As indicated, the security has been a technical standout, rallying more than 17% year-to-date. Option traders have been rolling the dice on additional gains, by buying to open calls over puts at a faster-than-usual clip in recent months. Zoetis Inc's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 5.99 ranks in the 83rd annual percentile.

  • It's been a rough ride for ETSY since going public in mid-April, down 54% and fresh off Monday's record low at $13.78. The stock is extending these losses today -- off 4.8% at $14.18 -- after Wedbush once again lowered its price target, this time to $9 from $13. This skepticism is seen elsewhere on the Street, with speculators at the ISE, CBOE, and PHLX buying to open 1.41 puts for each call over the past two weeks. Additionally, short interest jumped 23.2% in the latest reporting period, and now accounts for a healthy 7.5% of Etsy Inc'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