Analyst Downgrades: Bed Bath & Beyond Inc., Infinity Pharmaceuticals Inc., and GoPro Inc

Analysts downwardly revised their ratings and price targets on Bed Bath & Beyond Inc. (BBBY), Infinity Pharmaceuticals Inc. (INFI), and GoPro Inc (GPRO)

Jun 15, 2016 at 11:03 AM
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Analysts are weighing in on home goods retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY), biotech Infinity Pharmaceuticals Inc. (NASDAQ:INFI), and tech stock GoPro Inc (NASDAQ:GPRO). Here's a quick roundup of today's bearish brokerage notes on BBBY, INFI, and GPRO.

  • BBBY is up 3.4% at $44.14, after announcing it has acquired One Kings Lane Inc., an online home furnishings retailer, for an undisclosed amount. The excitement over BBBY's newest purchase -- as well as a broader rally among retail stocks -- is overshadowing a price-target cut to $47 from $52 at UBS. Nevertheless, the stock is down nearly 37% year-over-year, and hit a five-year low of $41.26 in early February. Other analysts also seem pessimistic towards Bed Bath & Beyond Inc., with only one of 15 brokerages rating BBBY a "buy" or better. 
  • INFI is up 5.8% to $1.44, after yesterday's disastrous crash. Today's bounce comes despite a barrage of negative analyst attention, with Morgan Stanley, Jefferies, Wells Fargo, and William Blair all downgrading the stock to the equivalent of a "hold" rating. Additionally, the former two lowered their respective price targets to $1 and $1.25. However, considering Infinity Pharmaceuticals Inc. was down 81% year-to-date heading into today's session, the stock's 14-day Relative Strength Index (RSI) closed last night at 15 -- well into oversold territory. In other words, a short-term bounce may have been in the cards.
  • GPRO is trading up 4.2% at $10.124, after Longbow initiated coverage of the stock with a "neutral rating," saying the company is operating in a saturated market and that "GoPro will have a difficult time expanding to mainstream consumers that do not participate in action sports." Despite today's pop, GPRO stock remains a long-term laggard, down almost 83% year-over-year -- and fresh off a May 19 record low of $8.62. While call buying has been popular in the GPRO options pits of late, short interest on GoPro Inc shot 20% higher in the last two reporting periods. These bearish bets now account for 32% of GPRO's float. 
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