Stock Analysts’ Downgrades for September, 14th (DDC, GM, IDR, MXWL, OPK, QSR, RDEIY, SNV, UBS, VWR)
Dominion Diamond Corp (TSE:DDC) (NYSE:DDC) was downgraded by analysts at Scotiabank from a sector perform rating to a tender rating. They currently have C$17.35 price target on the stock.
General Motors (NYSE:GM) (TSE:GMM.U) was downgraded by analysts at Standpoint Research from a buy rating to a hold rating.
Indra Sistemas SA (BME:IDR) was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a buy rating to a neutral rating.
Maxwell Technologies (NASDAQ:MXWL) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Maxwell leads the growing ultracapacitor market and benefits from increasing demand for its utility infrastructure, renewable energy, public transportation and space programs. It is also making progress in the high-voltage capacitor market. Maxwell signed a joint development agreement with a leading global automotive OEM as well as a global tier one automotive supplier, to develop a specific electric vehicle platform. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues. Moreover, Maxwell is witnessing significant competition and pricing pressure in the Chinese hybrid transit vehicle market. Again, the company's share price underperformed the broader industry in the last year.”
Opko Health (AMEX:OPK) was downgraded by analysts at J P Morgan Chase & Co from an overweight rating to a neutral rating.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Restaurant Brands shares have widely outpaced its industry over the past year. Going forward, various sales-boosting initiatives like improving services, reimaging restaurants, menu innovation along with continued expansion should drive the top line. In fact, the company believes that there is opportunity to grow both the Tim Hortons and Burger King brands across the world. The acquisition of Popeye’s also bodes well as it adds a solid brand to its portfolio, which should further ramp up unit growth and aid in reducing costs. Moving ahead, the company aims to continue focusing on guest satisfaction and franchisee profitability, which it believes will drive long-term growth of brands. However, rising costs along with negative currency translation might dent the company’s profitability, while a soft consumer spending environment could keep comps under pressure.”
Red Electrica Corporacion SA (OTC:RDEIY) was downgraded by analysts at Societe Generale from a hold rating to a sell rating.
Synovus Financial Corp. (NYSE:SNV) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shares of Synovus have outperformed the industry year to date. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. We believe the company’s organic and inorganic growth strategies position the company well for the future. Further, Synovus’ focus on balance-sheet growth encourages us. The company’s impressive capital deployment activities reflect its strong capital position. Though escalating expenses remain a concern, the margin pressure also seems to be easing on the back of gradually improving rate scenario.”
UBS AG (NYSE:UBS) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shares of UBS Group AG have underperformed the industry on NYSE in the last six months. The company’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework. However, UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates to achieve CHF 2.1 billion in net cost reductions by the end of 2017. Further, the company’s strong capital position remains a tailwind.”
VWR Corporation (NASDAQ:VWR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “VWR’s second-quarter earnings report was quite impressive, with both the top and the bottom line beating the Zacks Consensus Estimate. Geographically, the company recorded growth in Americas during the reported quarter driven by strong sales of equipment and instrumentation. Management is also looking forward to the long-term synergy benefits from the proposed merger with Avantor. The merger is expected to strengthen VWR’s business across the Americas and Europe. While we await the merger to close in the fourth quarter of 2017 we note that the stock price has already reached close to Avantor’s offer price and hence the short-term upside potential of VWR is limited now. On the flip side, a drop in EMEA-APAC sales was disappointing. Moreover, foreign currency was a major dampener. VWR’s poor margin scenario also raises concern.”
William Demant Holdings (OTCMKTS:WILYY) was downgraded by analysts at Jefferies Group LLC from a hold rating to an underperform rating.
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