Analyst Downgrades: GoPro Inc, Valeant Pharmaceuticals Intl Inc, and Apple Inc.

Analysts downwardly revised their ratings on GoPro Inc (NASDAQ:GPRO), Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and Apple Inc. (NASDAQ:AAPL)

by Josh Selway

Published on Dec 14, 2015 at 9:29 AM
Updated on Dec 14, 2015 at 9:34 AM

Analysts are weighing in on action camera maker GoPro Inc (NASDAQ:GPRO), drugmaker Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and tech titan Apple Inc. (NASDAQ:AAPL)Here's a quick roundup of today's bearish brokerage notes on GPRO, VRX, and AAPL.

  • GPRO is set to drop 6% this morning, after the shares were hit with another downgrade. This time it was Morgan Stanley who weighed in, reducing its outlook to "underweight" from "equal weight," and slashing its price target to $12 from $23. More downgrades could be forthcoming for GoPro Inc, since the majority of analysts still rate it a "buy" or better. The equity has dropped almost 70% in 2015, settling at $19.15 on Friday. 
  • VRX is edging higher in pre-market trading, even though RBC cut its price target to $194 from $206. Then again, this still represents more than twice the security's current level, last seen at $93.06. The stock has dropped over 57% in the past three months in the wake of Citron Research's short-seller report. As a result, Valeant Pharmaceuticals Intl Inc has reportedly hired an attorney, as well as public relations specialists. Option traders are hoping the shares can make up some of their lost ground. VRX's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 2.75, which ranks higher than 89% of all comparable readings from the past year. 
  • AAPL got hit with a price-target cut to $150 from $155 at Barclays, and is now looking at a 1.3% drop out of the gate. In addition, Morgan Stanley trimmed its target to $143 from $152, citing an expected drop in iPhone unit sales. The shares closed last week at $113.18, hanging on to a 2.5% year-to-date lead. Most other analysts maintain a bullish outlook for Apple Inc. Twenty-two of the 31 brokerage firms with coverage on the stock say it's a "buy" or better, and AAPL's average 12-month price target of $148.31 stands in never-before-charted territory. 

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
First Week in April Provides More Coronavirus-Related Volatility
A slew of coronavirus-related news sent markets on another weekly roller coaster ride
Netflix Stock Heading into Historically Bullish Quarter
NFLX's 10-day moving average has stepped up as support lately
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.