Campbell Soup, Dick's Sporting Goods, Freeport-McMoRan Downgraded

Campbell Soup Company (CPB), Dick's Sporting Goods Inc (DKS), and Freeport-McMoRan Inc (NYSE:FCX) have received bearish analyst attention on Wall Street

Feb 21, 2017 at 10:04 AM
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Analysts are weighing in on food firm Campbell Soup Company (NYSE:CPB), athletics retailer Dick's Sporting Goods Inc (NYSE:DKS), and mining stock Freeport-McMoRan Inc (NYSE:FCX). Here's a quick roundup of today's bearish brokerage notes on CPB, DKS, and FCX shares.

Bearish Analysts Bombard Campbell Soup

CPB is up 0.3% at $58.64, trying to recover from last week's post-earnings slide. The stock is also shaking off a trio of price-target cuts at RBC, Barclays, and Stifel. On a year-over-year basis, shares of Campbell Soup Company are currently down about 3%, and they could struggle to break higher with the 320-day moving average looming just overhead. For one reason or another, options traders have been extremely tilted toward calls over puts. CPB's Schaeffer's put/call open interest ratio (SOIR) sits at an annual low of 0.34.

Dick's Sporting Goods Gets Well-Deserved Downgrade

Oppenheimer reduced its rating on DKS to "perform" from "outperform," but the stock is up 0.7% at $50.13. It's been tough sledding the past few months, since the shares notched an early December high near $63. In fact, Dick's Sporting Goods Inc could be vulnerable to additional downgrades, based on its technical struggles. Specifically, three-quarters of the analysts tracking the stock rate it a "buy" or better, with not a single "sell" suggestion to be found.

Grasberg Drama, Downgrade Drop Freeport-McMoRan

FCX has sunk 5.9% to trade at $14.04, amid an intense labor disruption at the company's Indonesian Grasberg mine. Deutsche Bank responded by cutting its rating to "sell" from "hold," and slashing its price target to $12.50 from $14. This is more of the same from the brokerage community, where 75% of analysts maintain "hold" or worse opinions toward Freeport-McMoRan Inc. This is somewhat mystifying, as FCX stock has outperformed over the long haul, adding 77% on a year-over-year basis.

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