Analyst Update: Yandex NV, L Brands Inc, and T2 Biosystems Inc

Analysts revised their ratings and price targets on Yandex NV (NASDAQ:YNDX), L Brands Inc (NYSE:LB), and T2 Biosystems Inc (NASDAQ:TTOO)

by Karee Venema

Published on Apr 12, 2016 at 3:00 PM

Analysts are weighing in on tech stock Yandex NV (NASDAQ:YNDX), retailer L Brands Inc (NYSE:LB), and in vitro diagnostics firm T2 Biosystems Inc (NASDAQ:TTOO). Here's a quick roundup of today's brokerage notes on YNDX, LB, and TTOO.

  • YNDX is up 7.2% at $16.79, after Goldman Sachs raised its outlook on the shares to "buy" from "neutral" and its price target to $19.90 from $15.50. Today's positive price action just extends the stock's recent rally off its Jan. 20 year-to-date low of $11.00. Short sellers, meanwhile, have been betting on a reversal of fortune for Yandex NV, with short interest surging nearly 64% in the two most recent reporting period to 3.6 million shares -- the most since early December.

  • Goldman Sachs also chimed in on LB, removing the stock from its "conviction buy" list, and lowering its rating to "neutral" from "buy," citing concern over the recent restructuring at Victoria's Secret. While CNBC's Jim Cramer said he was a "little disappointed" with the note, shares of LB are off 0.04% at $79.25 -- widening their month-to-date deficit to almost 10% -- and on track to notch their lowest close since Aug. 25. In the options pits, put players are circling, with put volume running at four times the average intraday pace this afternoon. Longer term, L Brands Inc's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 7.15 ranks in the bearishly skewed 81st annual percentile.

  • TTOO was hit with price-target cuts from BTIG and Canaccord Genuity (to $12), as well as Leerink (to $11), after the firm offered up lower-than-expected preliminary first-quarter sales. At last check, the shares of T2 Biosystems Inc were off 11.7% at $9.36 -- after earlier plunging nearly 19%. This negative price action is nothing new for the stock, which has shed half its value year-over-year. What's more, a recent rally attempt was quickly halted by the equity's 200-day moving average, a trendline not conquered on a closing basis since last June. Should the shares of T2 Biosystems Inc continue to slide, another round of negative analyst notes could be on the horizon. Currently, four of the five brokerages covering TTOO maintain a "buy" or better rating.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Apple Inc., Pandora Media Inc, and QUALCOMM, Inc. and Analyst Downgrades: Alcoa Inc, Juniper Networks, Inc., and Starbucks Corporation.

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