Sanofi-Aventis Downgraded by Zacks to Underperform (SNY)
Sanofi-Aventis (NYSE:SNY) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Friday, AnalystRatings.Net reports. They currently have a $44.00 price target on the stock. Zacks‘ price target would suggest a potential downside of 8.26% from the company’s current price.
Zacks‘ analyst wrote, “We are downgrading Sanofi to Underperform following its lackluster performance in the second quarter of 2013 and the lowered guidance. Second quarter earnings were down 18.5% at CER from the year-ago period. The company now expects business earnings per share to decrease in a band of 7% to 10% from 2012 levels (previous guidance: flat-to-down 5%). Sanofi lowered its guidance primarily due to an adjustment in Brazil. We remain concerned about generic erosion confronting most of Sanofi’s key drugs. Additionally, pipeline failures have put immense pressure on Sanofi. In view of these challenges, we see little reason for investors to hold on to the stock at current levels.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company downgraded shares of Sanofi-Aventis (NYSE:SNY) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, August 21st. Separately, analysts at Berenberg Bank upgraded shares of Sanofi-Aventis (NYSE:SNY) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 7th. Finally, analysts at Natixis downgraded shares of Sanofi-Aventis (NYSE:SNY) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 1st.
One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Sanofi-Aventis currently has a consensus rating of “Hold” and a consensus target price of $51.00.
Shares of Sanofi-Aventis (NYSE:SNY) traded up 0.21% during mid-day trading on Friday, hitting $48.06. The stock had a trading volume of 624,949 shares. Sanofi-Aventis has a 52-week low of $42.20 and a 52-week high of $55.94. The stock has a 50-day moving average of $50.63 and a 200-day moving average of $51.72. The company has a market cap of $127.4 billion and a price-to-earnings ratio of 28.61.
Sanofi-Aventis is a pharmaceutical group engaged in the research, development, manufacture and marketing of healthcare products.
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