Russian Internet Stock Shrugs Off a Downgrade

Yandex was hit with a rare downgrade, while IBM took a pre-earnings price-target cut

Jul 17, 2017 at 10:45 AM
facebook twitter linkedin


Analysts are weighing in on tech company International Business Machines Corp. (NYSE:IBM), banking company Wells Fargo & Co (NYSE:WFC), and internet tech company Yandex NV (NASDAQ:YNDX). Here's a quick roundup of today's bearish brokerage notes on shares of IBM, WFC, and YNDX.

IBM Hit with Pre-Earnings Price-Target Cut

Barclays cut its price target on IBM to $132 from $141 earlier. Ahead of tomorrow evening's earnings report, International Business Machines has attracted quite a bit of skepticism from analysts; the stock sports 13 "hold" or "sell" ratings, compared to five "buy" or better endorsements.

IBM stock is down 0.5% at $153.41 this morning, deepening its year-to-date loss to 7.6%. The technical underperformer has lately been stymied by resistance at its 60-day moving average and the overhead $156 level.

KBW, BMO Cut Price Targets on Wells Fargo

KBW cut its price target on Wells Fargo to $61 from $62 earlier, with BMO following soon after with a cut to $49 from $50. These negative notes follow Friday's earnings-related slide for WFC shares, and the stock has slipped another 0.5% to $54.70 at last look. WFC has created a series of lower highs since its March all-time high of $59.99, but analysts maintain a median 12-month price target of $59.50 -- suggesting more negative notes could be on tap.

YNDX Downgraded After Breakout Uber Rally

VTB Capital downgraded YNDX stock to "hold" from "buy," but raised its price target by 10% to $34. This comes just after YNDX shares reached a roughly three-year-high of $32.44 last Thursday, when Yandex announced its partnership with Uber.

It's a rare downgrade for YNDX, which previously boasted 100% "buy" ratings from analysts. At last check, the stock is up 0.7% at $31.83, up 58% year-to-date.

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners