Alphabet, Intuit, Halliburton Downgraded

Alphabet, Intuit, and Halliburton received bearish analyst attention ahead of today's open

Mar 27, 2017 at 10:13 AM
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Analysts are weighing in on tech stock Alphabet Inc (NASDAQ:GOOGL), tax expert Intuit Inc. (NASDAQ:INTU), and oil services giant Halliburton Company (NYSE:HAL). Here's a quick roundup of today's bearish brokerage notes on shares of GOOGL, INTU, and HAL.

Alphabet Stock Hit with Price-Target Cut After Google Ads Mishaps

As Alphabet deals with the fallout from the Google ads debacle, Instinet cut its price target on GOOGL stock to $925 from $950. So far today, the shares have shed 0.3% to trade at $832.43, though they remain comfortably above their year-to-date breakeven level of $792.45. Still, put buying has hit an annual extreme relative to call buying. Specifically, Alphabet Inc has a 10-day put/call volume ratio of 1.11 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which is a 52-week high. 

Intuit Stock Keeps Sliding After Analyst Notes

INTU is down 0.8% today to trade at $118.76, and has now lost 7.5% since its record high of $128.45 on Feb. 24. Although RBC upped its price target to $125 from $111, Goldman Sachs removed the stock from its "Americas Conviction Buy" list. Most analysts are already on the bearish side of the fence. By the numbers, nine brokerage firms rate Intuit Inc. shares a "hold" or worse, versus just four "strong buy" recommendations.

Halliburton Shares Breach 200-Day Moving Average

HAL is off 3% today at $47.90, putting the shares on pace for their first close below the 200-day moving average in almost a year. On top of the broad-market headwinds, Goldman Sachs weighed in with a price-target cut to $66 from $71. More negative analyst attention could be forthcoming, too, considering 20 of 23 brokerage firms have "strong buy" opinions on the stock. Interestingly, short interest on Halliburton Company has been falling fast. In the last two reporting periods, specifically, short interest is down 20%. Yet, the shares have failed to capitalize on the short-covering activity, hinting at underlying weakness in HAL stock.

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