Analyst Downgrades: Cognizant Technology Solutions Corp, Ford Motor Company, and Harley-Davidson Inc

Analysts downwardly revised their ratings and price targets on Cognizant Technology Solutions Corp (CTSH), Ford Motor Company (F), and Harley-Davidson Inc (HOG)

by Alex Eppstein

Published on Sep 15, 2016 at 9:46 AM

Analysts are weighing in on IT consultant Cognizant Technology Solutions Corp (NASDAQ:CTSH), automaker Ford Motor Company (NYSE:F), and motorcycle stock Harley-Davidson Inc (NYSE:HOG). Here's a quick roundup of today's bearish brokerage notes on CTSH, F, and HOG.

  • CTSH was hit with another bearish brokerage note, as Goldman Sachs removed the stock from its "Americas Buy" list and slashed its rating to "neutral" from "buy." Explaining the change of heart, Goldman cited cyclical headwinds in Cognizant Technology Solutions Corp's financials and healthcare verticals, among other factors. Out of the gate, the stock has dipped 1.6% at $53.16, putting it a chip-shot from annual-low territory, just above $51. Additional pressure could result from another round of downgrades, too, considering 16 of 19 analysts still rate CTSH a "buy" or better -- with not a single "sell" opinion to be found.
  • F saw its price target trimmed to $15 from $16 at J.P. Morgan Securities. In early trading, the shares have barely budged, up a penny at $12.15. Longer term, Ford Motor Company has shed 14% of its value in 2016 -- slammed yesterday by a bleak 2017 forecast -- explaining why options traders have been so bearish toward the stock of late. Specifically, F's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.16 is just 11 percentage points from an annual peak.
  • HOG is off 1% at $50.37, after UBS trimmed its price target to $54 from $55. Nevertheless, the shares are still sitting on a healthy year-to-date lead of nearly 11%. On Wall Street, bears have been out in force. Harley-Davidson Inc's 10-day ISE/CBOE/PHLX put/call volume ratio stands at a top-heavy 6.66, oustripping 95% of all readings from the past year. Plus, 13.4% of HOG's float is sold short, representing more than two weeks' worth of pent-up buying power, at the stock's typical volumes.
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