Notable Downgrades: Cree (CREE), Iconix Brand Group (ICON), Valeant Pharma (VRX), Repligen Corp (RGEN), The Men’s Wearhouse (MW)

Goldman Sachs (GS) reported on Friday that they have lowered their rating for Cree, Inc. (CREE). The firm has downgraded CREE from ‘Neutral’ to ‘Sell’.

Cree Inc. recently traded at $24.64, a loss of $2.38 over Thursday’s closing price. The name has a current market capitalization of $2.54 billion.

Analysts at Monness Crespi & Hardt downgraded Iconix Brand Group, Inc. (ICON) from ‘Buy’ to ‘Neutral’ in a research report issued to clients on Friday.

On valuation measures, Iconix Brand Group Inc. stock it’s trading at a forward P/E multiple of 3.26x, and at a multiple of 2.80x this year’s estimated earnings. The t-12-month revenue at Iconix Brand Group Inc. is $391.08 million. ICON ‘s ROE for the same period is 14.45%.

Valeant Pharmaceuticals International, Inc. (VRX) was reiterated a ‘Buy’ at Guggenheim. The firm however, slashed its price target on the name by 35% to $195 from $300.

Shares of VRX have gained $3.45 to $82.22 in midday trading on Friday, giving it a market cap of roughly $28 billion. The stock traded as high as $263.81 on August 6, 2015.

Analysts at Jefferies downgraded Repligen Corporation (RGEN) from ‘Buy’ to ‘Hold’ in a research report issued to clients on Friday.

Shares of the $866.53 million market cap company are up 31.63% year-over-year and 63.54% year-to-date. Repligen Corp., currently with a median Wall Street price target of $38 and a high target of $44, dropped $6.05 to $26.33 in recent trading.

The Men’s Wearhouse, Inc. (MW) was downgraded by Goldman from a ‘Buy’ rating to a ‘Neutral’ rating in a research report issued to clients today.

MW closed at $40.10 on Thursday and is currently trading down $17.33. In the past 52 weeks, shares of Houston, Texas-based specialty apparel retailer have traded between a low of $21.44 and a high of $66.18 and are now trading at $22.77.

Shares are down 8.25% since the beginning of the year.

Be the first to comment

Leave a Reply

Your email address will not be published.


*