Alaska Air, Corning, Science Applications International Downgraded

Alaska Air, Corning, and Science Applications International received bearish analyst attention

Mar 31, 2017 at 10:19 AM
facebook twitter linkedin

Analysts are weighing in on airline Alaska Air Group, Inc. (NYSE:ALK), glass stock Corning Incorporated (NYSE:GLW), and IT consultant Science Applications International Corp (NYSE:SAIC). Here's a quick roundup of today's bearish brokerage notes on shares of ALK, GLW, and SAIC.

Alaska Air Receives Rare Bearish Brokerage Note

Imperial Capital trimmed its price target on ALK to $98 from $101, but J.P. Morgan Securities raised its target price to $116 from $93.50 -- in uncharted territory. This morning, the stock is down 0.6% at $93.10, but remains up more than 13% year-over-year. Generally speaking, the brokerage bunch has been quite bullish toward Alaska Air Group, Inc. Eighty percent of analysts rate the stock a "buy" or better, without a single "sell" opinion to be found.

Red-Hot Corning Stock Slips on Downgrade

GLW is down 2.2% at $26.94, after a downgrade to "neutral" from "buy" at Citigroup -- though the brokerage firm also upped its target price to $29 from $28. Technically speaking, Corning Incorporated shares have had quite the run, adding more than 29% year-over-year. In fact, from a contrarian perspective, the stock seems due for some bullish analyst attention. Ten of 11 tracking brokerage firms have handed GLW a "hold" or "strong sell" assessment, suggesting ample opportunity for upgrades.

Science Applications International Hit with Price-Target Reductions

SAIC saw its price target cut at both Vertical Research and Cowen, to $81 and $82, respectively. Nonetheless, the stock is up 0.3% at $75.18, trying to fight back after Thursday's post-earnings bear gap. Specifically, Science Applications International Corp shares slid over 13% yesterday after disappointing quarterly revenue data, erasing their 2017 gains in the process. Short sellers have taken an active interest in the underperforming stock. Over 6% of SAIC's float is dedicated to short interest, which would take well over two weeks to cover, at its typical daily trading volume.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1