Analyst Downgrades: GoPro, Walt Disney, and Marvell

Analysts downwardly revised their ratings on GoPro Inc (NASDAQ:GPRO), Walt Disney Co (NYSE:DIS), and Marvell Technology Group Ltd. (NASDAQ:MRVL)

Sep 8, 2015 at 9:53 AM
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Analysts are weighing in on wearable camera maker GoPro Inc (NASDAQ:GPRO), blue chip Walt Disney Co (NYSE:DIS), and chipmaker Marvell Technology Group Ltd. (NASDAQ:MRVL). Here's a quick roundup of today's bearish brokerage notes on GPRO, DIS, and MRVL.

  • GPRO has jumped 1.3% out of the gate to $37.31, despite a price-target cut to $50 from $70 at Baird. Longer term, shares of GPRO have surrendered 43% since hitting their most recent high of $65.49 on Aug. 10. This negative analyst note just echoes the recent trend seen among the brokerage bunch, but there's plenty of room on GoPro Inc's bearish bandwagon, should the stock resume its longer-term downtrend. No fewer than 71% of analysts maintain a "buy" or better rating, with not a single "sell" to be found. Plus, the average 12-month price target of $73.71 sits in territory not charted since last December.

  • DIS is extending its lead north of the century mark -- a level surrendered by the stock during a recent pullback -- up 1.7% at $102.69. Reports of new streaming partnerships appear to be overshadowing a price-target cut to $104 at Moffett Nathanson, which also weighed in on one social media heavyweight. On the sentiment front, option traders have been buying to open puts over calls at a near-annual-high clip in recent months. Specifically, Walt Disney Co's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.82 ranks in the 99th annual percentile.

  • J.P. Morgan Securities lowered its outlook on MRVL to "neutral" from "overweight," and cut its price target to $12 from $16.50 -- the second from the brokerage firm in recent weeks. At last check, MRVL is down 0.5% at $10.80, widening its year-to-date deficit to 26%. Meanwhile, in the options pits, short-term speculators are more put-heavy than usual, per Marvell Technology Group Ltd.'s Schaeffer's put/call open interest ratio (SOIR) of 0.36, which ranks higher than 87% of all comparable readings taken in the past year.
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