Time Warner, GoPro, Snap Downgraded

Shares of Time Warner, GoPro, and Snap received bearish analyst attention ahead of today's open

Mar 6, 2017 at 10:00 AM
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Analysts are weighing in on media stock Time Warner Inc (NYSE:TWX), camera maker GoPro Inc (NASDAQ:GPRO), and Snapchat parent Snap Inc (NYSE:SNAP). Here's a quick roundup of today's bearish brokerage notes on TWX, GPRO, and SNAP shares.

Time Warner Stock Dropped to "Neutral" at UBS

UBS this morning downgraded TWX to "neutral" from "buy," which is in line with the general opinion on the Street. Specifically, 12 of 21 brokerage firms maintain a "hold" rating on the stock, which was last seen 0.3% lower at $98.48. However, widening the view on the charts reveals Time Warner Inc shares have continued to grind higher since news of AT&T Inc.'s (NYSE:T) buyout offer broke back in October, touching a 15-year high of $99.29 on March 1. 

GoPro Stock Hit With Another "Sell" Rating

Wall Street is again punishing GPRO shares, with Goldman Sachs this morning slashing its rating to "sell" from "neutral," and setting a price target of $6 -- representing a record low. The analysts cited a competitive action camera market and the company's poor transition into the drone market as reasons for the bearish attention. GoPro Inc stock was last seen 2.5% lower at $8.62, a sight all too familiar for shareholders, who've watched the stock price evaporate since its all-time high of $98.47 in October 2014. Now just one of 13 covering analysts recommends buying GPRO shares. 

SNAP Rises More Despite Wall Street Concerns

In its third day as a publicly traded company, SNAP stock is up 1% at $27.35, despite even more bearish attention. For one, Needham initiated coverage with an "underperform" assessment, suggesting Snap Inc is a "lottery-like stock." Financial publication Barron's also weighed in, saying the stock was "ridiculously valued," especially in comparison to rival Facebook Inc (NASDAQ:FB). Still, SNAP's Wall Street debut has largely been billed a success, with the shares hitting a high of $29.44 on Friday. 

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