Notable Downgrades: Symantec Corp. (SYMC), Cree, Inc. (CREE), Marathon Petroleum (MPC), JetBlue Airways (JBLU)

RBC Capital reported on Monday that they have lowered their rating for Symantec Corp. (SYMC). The firm has downgraded SYMC from an ‘Outperform’ to a ‘Sector Perform’ rating and set a $26 p/sh price target on the stock.

RBC Capital’s price objective implies a potential upside of 8.69% from ticker’s current trading pps of $23.92.

SYMC shares are currently priced at 18.81x this year’s forecasted earnings compared to the industry’s 15.31x earnings multiple. Ticker has a forward P/E of 11.97 and t-12 price-to-sales ratio of 2.53. EPS for the same period is $1.28.

In the past 52 weeks, shares of Mountain View, California-based company have traded between a low of $17.95 and a high of $25.67. Shares are down 4.09% year-over-year ; up less than 2% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Analysts at Goldman Sachs (GS) downgraded their ‘Buy’ rating on the shares of Cree, Inc. (CREE). In a research note published on Monday, the investment bank lowered the shares of the multinational manufacturer of semiconductor LED materials to ‘Neutral’ and removed the company from “Americas Buy” list.

Cree, Inc. shares are currently priced at 40.83x this year’s forecasted earnings compared to the industry’s 22.89x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.05 and 19.49, respectively. Price/Sales for the same period is 3.09 while EPS is $1.01. Currently there are 4 analysts that rate CREE a ‘Strong Buy’, 5 rate it a ‘Buy’ and 7 rate it a ‘Hold’. No analysts rate it a sell. CREE has a median Wall Street price target of $53.00 with a high target of $70.00.

In the past 52 weeks, shares of Durham, North Carolina-based company have traded between a low of $41.09 and a high of $75.98 and are now at 41.19. Shares are down 30.42% year-over-year and 33.99% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Shares of Marathon Petroleum Corp (MPC) were downgraded to a ‘Sector Perform’ rating from ‘Sector Outperform’ by Howard Weil on Monday. The firm also cut its 12-month base case estimate to $99 from $109.

MPC shares recently lost $0.90 to $85.96. In the past 52 weeks, shares of Findlay, Ohio-based company, which together with its subsidiaries, is engaged in refining, transporting, and marketing petroleum products primarily in the United States, have traded between a low of $61.32 and a high of $97.70. Shares are up 26.91% year-over-year ; down 6.07% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Bank of America/Merrill (BAC) is out with a report this morning downgrading shares of JetBlue Airways Corporation (JBLU) to an ‘Underperform’ from ‘Neutral’ rating and $10.50 price target, implying 10.63% expected downside from the stock’s current price-per-share.

JetBlue shares recently lost $0.43 to $11.76. The stock is up more than 80% year-over-year and has gained roughly 38% year-to-date. In the past 52 weeks, shares of the Long Island City, New York-based company have traded between a low of $6.51 and a high of $12.83.

JetBlue Airways Corporation, which closed Monday at $12.19, has a total market cap of $3.43 billion.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

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