Analyst Update: Macy's, JD.com, and OvaScience

Analysts adjusted their ratings on Macy's, Inc. (NYSE:M), JD.Com Inc (ADR) (NASDAQ:JD), and OvaScience Inc (NASDAQ:OVAS)

Nov 9, 2015 at 1:48 PM
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Analysts are weighing in today on retailer Macy's, Inc. (NYSE:M), Chinese Internet interest JD.Com Inc (ADR) (NASDAQ:JD), and biotech concern OvaScience Inc (NASDAQ:OVAS). Here's a quick roundup of today's brokerage notes on M, JD, and OVAS.

  • M was last seen trading at $46.08, down 5.8% -- and just off a two-year low of $45.83 -- after receiving two price-target cuts: to $59 from $61 at Deutsche Bank, and to $45 from $61 at J.P. Morgan Securities. Meanwhile, with two days left until Macy's, Inc. reports third-quarter earnings, options traders are bullishly aligned. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), M sports a 50-day call/put volume ratio of 1.66, in the 80th percentile of readings taken in the past year. Macy's lowered its sales outlook after its last earnings report in August, and if unseasonably warm weather hurts sales further, a change in investor sentiment could send the shares trending lower.
  • JD got some love, with Goldman Sachs beginning coverage today with a "buy" rating and a price target of $37, just shy of the stock's all-time high of $38, notched this past June. Still, JD.com Inc (ADR) was last seen down 3.5% at $28.66, as China-based stocks retreat on weak trade data. Five of the nine brokerage firms following the stock currently give it a "strong buy" endorsement, and action in the options pits suggests traders are also optimistic. At the ISE/CBOE/PHLX, JD has racked up a 10-day call/put volume ratio of 9.59, in the 90th percentile of its annual range, indicating that nearly 10 calls have been bought to open for every put over the last 10 sessions. Some of this bullish sentiment could be a result of Jim Chanos' pitch of JD.com as a long position at a conference last Friday, as a hedge to a proposed Alibaba Group Holding Ltd (NYSE:BABA) short play.

  • OVAS is continuing its downward trend, last seen off 6.8% at $11.40, after receiving a downgrade to "market perform" from "outperform" at Leerink -- which also cut its price target on the stock to $14 from $16. The brokerage firm attributed the negative note to a "sluggish" launch of Augment, OVAS' fertility treatment. OvaScience Inc has been falling hard since hitting an all-time high in March, and is currently down 74.4% year-to-date. What's more, last Thursday's quarterly earnings report did nothing for the biotech. Nearly half of the stock's float is currently sold short, accounting for more than two weeks of trading, at the stock's average daily volume. Meanwhile, a 50-day call/put volume ratio of 5.7 at the ISE/CBOE/PHLX indicates a strong preference for long calls over puts lately.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Weight Watchers International, Inc., Cytokinetics, Inc., and General Motors Company and Analyst Downgrades: FireEye Inc, QUALCOMM, Inc., and Autodesk, Inc.

 

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