Aegean Marine, Ciena, IBM Downgraded

IBM stock's woes are continuing, following a price-target cut at Stifel

May 24, 2017 at 9:51 AM
facebook X logo linkedin

Analysts are weighing in on fuel logistics firm Aegean Marine Petroleum Network Inc. (NYSE:ANW), tech stock Ciena Corporation (NYSE:CIEN), and blue chip IBM Corp. (NYSE:IBM). Here's a quick roundup of today's bearish brokerage notes on shares of ANW, CIEN, and IBM.

ANW Stock Slaughtered After Earnings

Aegean stock has gapped 37% lower to $6.60 -- its lowest point since last August. Weighing on ANW shares is the company's first-quarter earnings miss, as well as a downgrade to "hold" from "buy" from Stifel. The brokerage firm also slashed its price target in half to $9. The stock had recently found support atop its 200-day moving average, but is now trading well below this trendline and is in the red year-to-date.

Short sellers are likely reaping the rewards of this post-earnings bear gap. Though ANW stock is short-sale restricted today, a record 6.3 million shares are currently sold short -- 24% of the security's available float.

CIEN Stock Dips After Deutsche Bank Downgrade

Analysts at Deutsche Bank cut their rating on Ciena stock to "hold" from "buy," and sliced their price target to $23 from $28. The brokerage firm said it expects CIEN to remain range-bound in the near term amid lower earnings-per-share expectations. Ciena will unveil its fiscal second-quarter results before the market opens on Thursday, June 1.

Against this backdrop, CIEN stock is trading down 3.4% at $23.53 -- a region that served as a magnet for the shares in March. Should Ciena shares continue to struggle, there's plenty of room for analysts to continue to downwardly revise their ratings. Of the 15 covering the stock, 13 maintain a "buy" or better rating, with not a single "sell" on the books.

Stifel Slashes Price Target on IBM Stock

IBM stock saw its price target cut to $182 from $192 at Stifel this morning. In response, the shares are trading down 0.1% at $151.87, though the negative price action is nothing new for Big Blue. In fact, since reporting earnings in late April, IBM shares have shed nearly 11%, a move exacerbated in early May on Warren Buffett-related woes. 

IBM options traders have kept the faith, though. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 1.65 ranks in the 77th annual percentile, meaning calls have been bought to open over puts at a faster-than-usual clip.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI