American International Group, GameStop, Gilead Sciences Downgraded

American International Group, GameStop, Gilead Sciences received bearish analyst attention ahead of today's open

Mar 13, 2017 at 10:10 AM
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Analysts are weighing in on insurance giant American International Group Inc (NYSE:AIG), video game retailer GameStop Corp. (NYSE:GME), and drug stock Gilead Sciences, Inc. (NASDAQ:GILD). Here's a quick roundup of today's bearish brokerage notes on AIG, GME, and GILD shares.

Deutsche Bank Downgrades AIG Stock

AIG has swung 0.2% higher to trade at $62.89, even after a downgrade to "sell" from "hold" at Deutsche Bank, which also trimmed its price target by $4 to $57. The brokerage firm specifically expressed concern the board has not yet found a replacement for outgoing CEO Peter Hancock, which "indicates indecision." While the stock has given back some ground since topping out at a post-financial-crisis high of $67.47 in January, it still sports a 19% year-over-year advance. Meanwhile, analysts' outlooks are mixed, with half the brokerage firms calling American International Group Inc a "buy" or better, and the other half deeming it just a "hold." 

GameStop Stock Slide Continues 

Telsey Advisory Group downgraded GME shares to "market perform" from "outperform," and cut its price target to $27 from $28. At last check, the stock was off 2.6% at $24.52, bringing its 12-month deficit to 20.3%. As such, GameStop Corp. remains a name that could fall victim to additional bearish attention from the Street, since the vast majority of covering brokerage firms still maintain a "buy" or better opinion on the long-time underperforming stock. 

Goldman Sachs Trims Outlook for Gilead Sciences

GILD is continuing its downtrend, last seen 0.8% lower at $67.65, after Goldman Sachs reduced its price target to $68 from $70. The shares have been stair-stepping lower since flirting with triple-digit territory last April, yet options traders continue to buy calls at an alarming rate. Specifically, Gilead Sciences, Inc. has a 10-day call/put volume ratio of 3.27 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which tops 90% of all readings from the past year. Elsewhere, the drugmaker has been thrust into the M&A rumor mill.

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