Notable Downgrades: AGCO Corporation (AGCO), SanDisk (SNDK), Alibaba Group (BABA), Bank of America (BAC)

Analysts at JP Morgan (JPM) downgraded AGCO Corporation (AGCO) from ‘Neutral‘ to ‘Underweight‘ in a research report issued to clients on Thursday.

The target price for AGCO is lowered from $44 to $42.

On valuation measures, AGCO Corp. stock it’s trading at a forward P/E multiple of 16.19x, and at a multiple of 11.07x this year’s estimated earnings. The t-12-month revenue at AGCO Corp. is $9.72 billion. AGCO ‘s ROE for the same period is 10.72%.

Shares of the $4.27 billion market cap company are down 8.36% year-over-year ; up 9.65% year-to-date.

AGCO Corp., currently with a median Wall Street price target of $47.00 and a high target of $56.00, dropped $1.17 to $48.27 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

SanDisk Corp. (SNDK) was downgraded from ‘Positive‘ to ‘Neutral‘ at Susquehanna.

Shares have traded today between $65.30 and $68.30 with the price of the stock fluctuating between $63.00 to $108.77 over the last 52 weeks.

SanDisk Corp. shares are currently changing hands at 16.04x this year’s forecasted earnings, compared to the industry’s 26.77x earnings multiple. Ticker has a t-12 price/sales ratio of 2.29. EPS for the same period registers at $4.23.

Shares of SNDK have lost $3.27 to $67.85 in mid-day trading on Thursday, giving it a market cap of $14.45 billion. The stock traded as high as $108.77 in July 16, 2014.

Alibaba Group Holding Limited (BABA) was reiterated a ‘Buy’ by Brean Capital analysts on Thursday. The broker also cut its price target on the stock to $97 from $110.

BABA shares recently lost 0.23 to $84.44. In the past 52 weeks, shares of China’s e-commerce giant have traded between a low of $80.03 and a high of $120.00. Shares are down 18.54% year-to-date.

Bank of America Corporation (BAC) was reiterated as ‘Outperform’ with a $21 from $22 price target on Thursday by Oppenheimer.

BAC shares recently gained $0.28 to $15.92. The stock is down 1.26% year-over-year and has lost roughly 12.30% year-to-date. In the past 52 weeks, shares of the Charlotte, North Carolina-based banking giant have traded between a low of $14.37 and a high of $18.21.

Bank of America Corporation closed Wednesday at $15.64. The name has a total market cap of $167.42 billion.

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