Analyst Downgrades: Yelp Inc, EMC Corporation, and Metlife Inc

Analysts downwardly revised their ratings and price targets on Yelp Inc (YELP), EMC Corporation (EMC), and Metlife Inc (MET)

by Alex Eppstein

Published on Jul 13, 2016 at 9:29 AM

Analysts are weighing in on consumer review site Yelp Inc (NYSE:YELP), tech stock EMC Corporation (NYSE:EMC), and insurance issue Metlife Inc (NYSE:MET). Here's a quick roundup of today's bearish brokerage notes on YELP, EMC, and MET.

  • YELP is off 3% pre-market, after seeing its rating cut to "underperform" from "market perform" at Wells Fargo. This may come as a surprise, considering the social media stock has more than doubled since its February lows to settle yesterday at $30.38 -- earning a number of positive analyst notes along the way. Elsewhere on the sentiment front, short interest represents 16.6% of Yelp Inc's float, or more than a week's worth of pent-up buying power, at the stock's average daily volume.

  • Ahead of EMC's earnings report next Monday night, Macquarie lowered its assessment of the stock to "neutral" from "outperform." This is par for the course, considering roughly three-fifths of analysts rate the shares a "hold" -- with the rest sporting "buy" or better opinions. Technically speaking, EMC Corporation has been stair-stepping its way higher in 2016, and closed Tueday at $27.61 -- just a hair's breadth south of its 40-day moving average.

  • MET is getting rocked with negative attention, set to drop 1.1% at the open, with Deutsche Bank lowering its rating to "hold" from "buy," and trimming its price target to $44 from $47. In a similar vein, KBW cut its target price to $51 from $54. That's not to say Metlife Inc deserves any better -- the stock, which settled at $40.76 yesterday, has surrendered 15.5% year-to-date. In fact, a further capitulation among bullish brokerage firms could exacerbate losses. After all, despite MET's woeful track record, 10 of 12 analysts recommend buying the stock, with not a single "sell" rating on the books.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


With This Lithium Stock, It Will Be Better to Be Too Early Than Too Late
Click to continue to advertiser's site.
American Airlines Drops on Jobs Update
American Airlines said it will reduce management and support staff by 30%
June Kicks Off With Slew of Economic Data
June begins with another round of retail earnings
With This Lithium Stock, It Will Be Better to Be Too Early Than Too Late
Click to continue to advertiser's site.