Analyst Update: Nokia, Micron Tech, Chesapeake Energy

Analysts adjusted their ratings and price targets on Nokia Corporation (ADR) (NYSE:NOK), Micron Technology, Inc. (NASDAQ:MU), and Chesapeake Energy Corporation (NYSE:CHK)

Feb 1, 2016 at 3:00 PM
facebook twitter linkedin


Analysts are weighing in today on telecommunications firm Nokia Corporation (ADR) (NYSE:NOK), chipmaker Micron Technology, Inc. (NASDAQ:MU), and commodity stock Chesapeake Energy Corporation (NYSE:CHK). Here's a quick roundup of today's brokerage notes on NOK, MU, and CHK.

  • NOK is down 12.1% today at $6.33, as Wall Street weighs in on the company's patent-dispute settlement with Samsung. The losses put the shares 16.7% below breakeven on a year-over-year basis, and Canaccord Genuity is now tempering its expectations. The brokerage firm lowered its outlook to "hold" from "buy," while cutting its price target to $6.50 from $10. More downgrades could come, too, since seven out of 13 analysts still say Nokia Corporation (ADR) is a "strong buy." 

  • MU has shed 2.6% at $10.74, despite an upgrade to "neutral" from "sell" at Goldman Sachs, which also removed the stock from its "Americas Sell" list. However, the brokerage firm did cut its price target to $11 from $13. The stock has been trending lower over the past 12 months amid overhead pressure from its 20-week moving average, touching a two-year low of $9.31 on Jan. 20. These losses have brought short sellers to the table. Specifically, over the two most recent reporting periods, short interest surged by 13.5%. 

  • CHK is again on the way down, dropping 7.4% to $3.13, due to a sell-off in crude futures and a price-target cut to $6 from $7 at SunTrust Robinson, which weighed in on a bevy of oil stocks. The gas stock's epic demise -- it's trailed the S&P 500 Index (SPX) by nearly 52 percentage points over the past three months -- has led to extremely bearish tendencies from speculators. For instance, Chesapeake Energy Corporation's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 4.19 -- which is higher than 99% of all similar readings from the past year. 
For other stocks in analysts' crosshairs, read Analyst Upgrades: American Airlines Group Inc, Monster Beverage Corporation, and Xerox Corp and Analyst Downgrades: Alibaba Group Holding Ltd, Seagate Technology PLC, and United States Steel Corporation.
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

SCHAEFFER'S JULY STOCKS REPORT AD
 


 


 
Special Offers from Schaeffer's Trading Partners