Analyst Downgrades: General Electric Company, Infoblox Inc, and Michael Kors Holdings Ltd

Analysts downwardly revised their ratings and price targets on General Electric Company (GE), Infoblox Inc (BLOX), and Michael Kors Holdings Ltd (KORS)

May 12, 2016 at 10:00 AM
facebook X logo linkedin


Analysts are weighing in on digital industrial firm General Electric Company (NYSE:GE), tech stock Infoblox Inc (NYSE:BLOX), and accessories retailer Michael Kors Holdings Ltd (NYSE:KORS). Here's a quick roundup of today's bearish brokerage notes on GE, BLOX, and KORS.

  • J.P. Morgan Securities resumed coverage on GE with an "underweight" rating and a $27 price target, sending the stock 0.7% lower at $30.12. Since hitting a seven-year high of $32.05 to end March, the shares have been charting a series of lower highs and lows to test the round $30 level. As a result, bearish options traders have been setting their sights on General Electric Company. Across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 1.86 puts for every call during the last two weeks -- and the corresponding put/call volume ratio sits just 6 percentage points from a 12-month high.
  • BLOX saw its price target trimmed to $16 from $17 at D.A. Davidson, following a lackluster earnings report earlier this week. However, a reported buyout bid from Thoma Bravo has the stock 20.2% higher at $18.41. This represents the shares' best single-day percentage gain since Dec. 1. Short sellers are getting singed on Infoblox Inc's upside gap. After rising 22.2% in the latest reporting period, short interest now accounts for 14% of BLOX's float, or 4.5 times the stock's average daily trading level.
  • Following a disastrous day for retailers, KORS was hit with a price-target cut to $45 from $48 at Canaccord Genuity. As such, the stock is 1.3% lower at $43.43 -- though it may be getting ready to bounce, considering its 14-day Relative Strength Index (RSI) has dropped to 24, well into oversold territory. If Michael Kors Holdings Ltd can rebound, the stock is actually set to benefit from a round of bullish brokerage attention, as 12 of 17 analysts maintain tepid "hold" opinions.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI