Analyst Update: Sunedison, Cal-Maine, United Tech

Analysts adjusted their ratings on Sunedison Inc (SUNE), Cal-Maine Foods Inc (CALM), and United Technologies Corporation (UTX)

Aug 31, 2015 at 12:12 PM
facebook twitter linkedin

Analysts chimed in on clean energy company Sunedison Inc (NYSE:SUNE), egg-producing concern Cal-Maine Foods Inc (NASDAQ:CALM), and blue-chip tech firm United Technologies Corporation (NYSE:UTX). Here's a quick roundup of today's brokerage notes on SUNE, CALM, and UTX.

  • SUNE is up 2.5% at $10.56, thanks to some upbeat analyst attention. Macquarie initiated coverage on Sunedison Inc with an "outperform" rating and a $20 price target, while J.P. Morgan Securities started coverage at "overweight" and said the "recent sell-off" is "overdone." Technically, SUNE recently bounced off an all-time low at $8.10 and is now battling overhead resistance from its 10-day moving average. SUNE has a rather high amount of short interest -- a third of the stock's float is sold short -- but it will likely take a bigger rebound before the skeptics get spooked.

  • CALM is also bucking the overall market trend, advancing 6.1% to trade at $53.32, after receiving an upgrade to "buy" from "hold" at BB&T. Technically, Cal-Maine Foods Inc's jump has positioned the shares back above their 20-week moving average, which was breached during the recent market weakness. The egg producer may also receive a boost in the form of a short-covering rally -- as 33% of the equity's float is sold short, representing more than three weeks' worth of pent-up buying demand, at CALM's average pace of trading.
  • UTX has slipped 1.1% to $92.20 this afternoon, due to a pair of negative analyst notes. Cowen and Company lowered United Technologies Corporation's price target to $116 from $119, while Barclays downgraded the stock to "equal weight" from "overweight" and lowered its target to $100 from $120. A major reason for the cuts is that 6% of UTX's overall sales come from China, and we all know how things are going overseas. Thanks to this month's struggles, the shares are set to finish below their 50-month moving average for the first time since the Great Recession.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Twitter Inc, Planet Fitness Inc, and Paypal Holdings Inc and Analyst Downgrades: Seadrill Ltd, Southern Copper Corp, and Regis Corporation.

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1