Analyst Downgrades: Nike Inc, Intuitive Surgical, Inc., and Royal Gold, Inc

Analysts downwardly revised their ratings and price targets on Nike Inc (NKE), Intuitive Surgical, Inc. (ISRG), and Royal Gold, Inc (USA) (RGLD)

Dec 6, 2016 at 9:59 AM
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Analysts are weighing in on Dow component Nike Inc (NYSE:NKE), robotic surgery specialist Intuitive Surgical, Inc. (NASDAQ:ISRG), and gold stock Royal Gold, Inc (USA) (NASDAQ:RGLD). Here's a quick roundup of today's bearish brokerage notes on NKE, ISRG, and RGLD.

  • NKE is off 2.6% at $50.52 this morning after Cowen and Company downgraded the stock to "market perform" from "outperform," and its cut price target to $54 from $59. The brokerage cited concerns Nike Inc could see accelerated losses to competitors Under Armour Inc (NYSE:UA) and Germany-based Adidas AG, after its survey found consumer preference for Nike apparel dwindling. NKE has been steadily declining on the charts, giving back more than 23% year-over-year. But options traders seem to be betting on a rebound for the blue-chip stock. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), NKE's 10-day call/put volume ratio of 3.09 rests 3 percentage points from an annual high. 

  • Leerink slashed its price target on ISRG to $755 from $810 -- still representing all-time-high territory, and a 20.7% premium over current levels. The stock is off 1.8% at $625.55, trimming its year-to-date lead to 14.5%. After spending much of the year rising atop its 80-day moving average, Intuitive Surgical, Inc. peaked at a record high of $727.25 in October, and has since been taking a breather. Meanwhile, the majority of analysts remain in the security's bullish corner, with 11 out of 17 brokerages rating the shares a "buy" or better. 

  • RGLD is shaking of a price-target cut to $86 from $99 at Barclays, up 0.6% at $71.41, even as gold prices continue to slip. Like many of its fellow gold stocks, Royal Gold, Inc (USA) has had a standout year, nearly doubling on the charts, and finding a strong ally in its 200-day moving average, which has stepped up as support in recent weeks. Though options volume on RGLD tends to be light on an absolute basis, speculators have been taking an extremely call-skewed approach of late. Specifically, the stock holds a 10-day call/put volume ratio of 32.77 at the ISE, CBOE, and PHLX -- higher than 99% of all comparable readings from the past 12 months. 
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