Analyst Downgrades: Apple Inc., Box Inc, and Costco Wholesale Corporation

Analysts downwardly revised their ratings and price targets on Apple Inc. (AAPL), Box Inc (BOX), and Costco Wholesale Corporation (COST)

Jun 2, 2016 at 9:28 AM
facebook X logo linkedin


Analysts are weighing in on iPhone parent Apple Inc. (NASDAQ:AAPL), content collaboration specialist Box Inc (NYSE:BOX), and retail stock Costco Wholesale Corporation (NASDAQ:COST). Here's a quick roundup of today's bearish brokerage notes on AAPL, BOX, and COST.

  • AAPL is pointed 0.7% lower pre-market, after Goldman Sachs cut its price target on the stock to $124 from $136. In addition, the brokerage firm lowered its full-year earnings estimates and iPhone sales forecast, citing lower growth expectations industrywide. On the charts, Apple Inc. has been battling back from its May 12 annual low of $89.47 to trade at $98.46, but was stonewalled around the $100 century level -- and continues to face pressure from its descending 40-day moving average. Further losses could trigger additional bearish brokerage attention, considering 24 of 29 analysts maintain "buy" or better opinions on AAPL.

  • Despite last night's narrower-than-expected first-quarter loss, BOX received a downgrade to "neutral" from "overweight" at J.P. Morgan Securities -- which also slashed its price target to $14 from $18. On top of that, Canaccord Genuity lowered its target price to $16 from $18, though the firms' analysts added they're "buyers on the dip." As such, Box Inc -- which settled last night at $12.81 -- is bracing for a 7.3% plunge at the open. This ought to lift of the spirits of short sellers. Over one-quarter of the stock's float is sold short, representing more than four weeks' worth of trading, at BOX's usual daily volumes.

  • Unlike yesterday, when COST won support from Wall Street, the stock is being met with skepticism this morning. Specifically, Sterne Agee CRT trimmed its price target to $176 from $179, after the big-box retailer reported flat same-store sales. "Memorial Day cushioned blow from modestly softer traffic trends in May, but core comparable sales was below our estimate nonetheless," the brokerage firm wrote in a note to clients. Ahead of the open, Costco Wholesale Corporation shares are down 1.1%, following Wednesday's settlement at $152.52. Meanwhile, across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have been buying to open puts over calls at a breakneck rate. COST's 10-day put/call volume ratio of 1.73 ranks in the 94th annual percentile.
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