Analyst Update: Walt Disney, Intel, Baytex Energy

Analysts adjusted their ratings on Walt Disney Co (DIS), Intel Corporation (INTC), and Baytex Energy Corp (USA) (BTE)

Mark Fightmaster
Aug 21, 2015 at 12:40 PM
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Analysts are weighing in today on Dow components Walt Disney Co (NYSE:DIS) and Intel Corporation (NASDAQ:INTC), as well as petroleum and natural gas firm Baytex Energy Corp (USA) (NYSE:BTE). Here's a quick roundup of today's brokerage notes on DIS, INTC, and BTE.

  • To say the Dow has had a rough few days would be an understatement, and today isn't any prettier. DIS is among the blue-chip losers, 0.2% lower at $99.81 after Cowen and Company cut the entertainment firm's price target to $89 from $98. Walt Disney Co has marched consistently lower throughout the month. After hitting an all-time high of $122.08 early in August, the shares have shed 18%. Option players have caught on to DIS' rough stretch. The stock has accrued a 10-day put/call volume ratio of 0.88 across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- in the 81st annual percentile. In other words, traders have bought to open puts over calls at an accelerated clip. One technical development of note for DIS is that it is currently below its 10-month moving average. This trendline has provided rather solid support since early 2012 and it could now switch roles and act as resistance.

  • INTC is also backtracking today, shedding more than 1% to trade at $27.19 after Baird cut its price target to $25 from $32. Earlier, the shares also hit an annual low of $27.09. Intel Corporation has been in a decline since late May, and its 10-week moving average has been acting as resistance. Analysts are bullishly aligned toward INTC, though, as 17 of the 30 brokerages tracking the tech firm rate it a "hold" or better (with a substantial 15 "strong buys"). Any downgrades from the brokerage bunch could trigger further downside for INTC.

  • BTE dropped to a record low of $4.22 after the company announced that it is suspending its monthly cash dividend after the Sept. 15 payment. Baytex Energy Corp (USA) added that it is tightening its production range as it continues to focus on cost-reduction initiatives. On the sentiment front, Altacorp and National Bank Financial both lowered their ratings to "sector perform" from "outperform," and slashed their price targets, as well. Another four analysts also cut BTE's price target in reaction to this news. Speaking more broadly, four of the six analysts following BTE still rate it a "buy" or better, leaving room for more momentum-killing downgrades. Today's news has the stock nearly 8% lower at $4.67.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Salesforce.com, inc., Brocade Communications Systems, Inc., and General Growth Properties Inc and Analyst Downgrades: Hewlett-Packard Company, Chevron Corporation, and The Fresh Market Inc


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