Share on StockTwits

Analysts’ downgrades for Friday, July 4th:

Balfour Beatty plc (LON:BBY) was downgraded by analysts at RBC Capital to a sector performer rating. They currently have GBX 200 ($3.41) target price on the stock, down from their previous target price of GBX 246 ($4.19).

Balfour Beatty plc (LON:BBY) was downgraded by analysts at Numis Securities Ltd to a hold rating. They currently have GBX 223 ($3.80) target price on the stock.

Cairn Energy PLC (LON:CNE) was downgraded by analysts at Tudor Pickering to a hold rating. They currently have GBX 230 ($3.92) price target on the stock.

CU Bancorp (NASDAQ:CUNB) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. The firm currently has $20.70 target price on the stock.

Duluth Metals Limited (TSE:DM) was downgraded by analysts at CIBC from a sector perform rating to an underperform rating.

Genel Energy PLC (LON:GENL) was downgraded by analysts at Numis Securities Ltd to an add rating. Numis Securities Ltd currently has GBX 1,136 ($19.35) price target on the stock.

Hertz Global Holdings (NYSE:HTZ) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. Zacks currently has $27.50 target price on the stock.

Shire PLC (NASDAQ:SHPG) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. The firm currently has $249.00 price target on the stock. Zacks’ analyst wrote, “Shire reported first quarter 2014 earnings of $2.36 per ADS, beating the Zacks Consensus Estimate of $2.22. Quarterly revenues increased 18% to $1.3 billion, in line with the Zacks Consensus Estimate. The acquisition of ViroPharma is expected to boost the bottom line by 7% in 2014. AbbVie recently proposed to acquire Shire for 20.44 in cash and 0.7988 AbbVie shares per Shire share. The proposal was initially made on May 30, 2014. However, Shire reiterated that its board has already considered the proposal in detail and unanimously rejected it as it believes that the proposal fundamentally undervalues Shire and its prospects. With the proposed acquisition, the stock has been holding up steady in the last few days. However, we do not see further upside potential at the current levels and downgrade our recommendation to Neutral. “

Standard Chartered PLC (LON:STAN) was downgraded by analysts at Maybank Kim Eng to a hold rating. The firm currently has GBX 1,230.11 ($20.95) target price on the stock.

SunCoke Energy (NYSE:SXC) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. Zacks currently has $21.40 target price on the stock.

Target (NYSE:TGT) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. The firm currently has $54.00 price target on the stock. Zacks’ analyst wrote, “Target’s troubles remain far from over. The company continues to reel under the effects of the massive data breach. Moreover, the company’s tepid foray into the Canadian market, weak e-commerce sales and subsequent dismal quarterly performances has put it on back foot. As a result, management provided a cautious outlook for the second quarter as well as for the fiscal given the near-term challenges. Management expects pressured operating margins and comps triggering a downtrend in the Zacks Consensus Estimate. Though the company has diverted resources to enhance domestic and online sales as well as to improve Canadian operations, but it will prove to be a time consuming affair. Therefore, we downgrade our long term recommendation on the stock to Underperform.”

Wynn Resorts, Limited (NASDAQ:WYNN) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. They currently have $223.00 price target on the stock. Zacks’ analyst wrote, “Despite strong first quarter results, we revert to a Neutral recommendation on Wynn Resorts from Outperform owing to broader macro pressures in the countries where it operates. Adjusted earnings of $2.32 per share comfortably surpassed the Zacks Consensus Estimate of $2.11 and increased 14.3% year over year owing to top-line growth. Net revenue grew 9.8% year over year and beat the Zacks Consensus Estimate on the back of solid business in Macau. However, sustained weaknesses in demand in the U.S and credit growth concerns in China led to the downgrade. Moreover, China’s crackdown on illegal money transfers, tighter restrictions on visas and an impending smoking ban continue to remain concerns. Further, stiff competition and limited diversity also act as headwinds for the company. “

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.