AAPL, PFE, ADBE Stocks Downgraded Today

Mizuho downgraded Apple stock to "neutral"

Jun 12, 2017 at 9:06 AM
facebook X logo linkedin


Analysts are weighing in on iPhone maker Apple Inc. (NASDAQ:AAPL), blue-chip pharmaceutical stock Pfizer Inc. (NYSE:PFE), and software stock Adobe Systems Incorporated (NASDAQ:ADBE). Here's a quick roundup of today's bearish brokerage notes on shares of AAPL, PFE, and ADBE.

AAPL Stock Could Breach 50-Day After Analyst Note

Coming off its worst day in over a year, Apple stock is down another 2% in electronic trading, following a bear note at Mizuho. Specifically, the brokerage firm downgraded the shares to "neutral" from "buy," setting a $150 price target, saying enthusiasm surrounding the upcoming product cycle is already priced in. Apple's struggles are part of the broader tech sell-off that's plaguing markets around the globe, and after closing Friday at $149.98, the stock is on pace to close below its 50-day for the first time since early December. This drop in AAPL shares could be bad news for options traders, since the top open interest position on the stock is the June 155 call, with roughly 104,500 contracts in residence. 

Morgan Stanley Lower Outlook on PFE Stock

Morgan Stanley cut its price target to $35 from $38 on Pfizer stock, though this still represents territory not seen since late August. PFE stock closed Friday at $32.77, slightly above its year-to-date breakeven level, but the shares have been trending lower since early March, giving up a short-term foothold above their 200-day moving average in the process. The majority of analysts are already bearish on Pfizer, with eight of 14 rating the stock a "hold" or "strong sell." 

ADBE Stock Gets First "Sell" Rating

Pivotal Research has become the first brokerage firm on the Street to recommend selling Adobe stock, downgrading the shares to "sell" from "hold" this morning. This comes as ADBE gets swept up in the broader tech swoon, with the shares pointed almost 3% lower ahead of the open. Adobe stock settled at $138.05 on Friday, meaning it's up 42.4% year-over-year. Meanwhile, the June 145 call saw the largest increase in open interest over the past five days for all ADBE options, with data from the major exchanges confirming notable buy-to-open activity here, so this weak price action could be catching some speculators off-guard. 

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI