Notable Downgrades: LinkedIn (LNKD), SunEdison (SUNE), Valeant (VRX), Barclays (BCS)

LinkedIn Corporation (LNKD) was downgraded from ‘Overweight’ to ‘Equal-Weight’ at Morgan Stanley (MS). The investment bank cited business social network’s slower enterprise growth among other negative factors.

Shares have traded today between $107.99 and $112.00 with the price of the stock fluctuating between $98.25 to $267.28 over the last 52 weeks.

Shares of LinkedIn have lost $6.45 to $109.13 in late morning trading on Wednesday, giving it a market cap of roughly $14.4 billion. The stock traded as high as $267.28 in March 24, 2015.

Analysts at Avondale downgraded SunEdison, Inc. (SUNE) from ‘Market Outperform’ to ‘Market Perform’ in a research report issued to clients on Wednesday. The renewable energy company said on Wednesday they had delayed filing their 10-K form for the year ended December 31, 2015 beyond an extended deadline due to problems with their IT systems.

Shares of the $604.46 million market cap company dropped $0.17 to $1.90 in recent trading. The name is down 91.38% year-over-year and 59.14% year-to-date.

Nomura reported on Wednesday that they have lowered their rating for Valeant Pharmaceuticals International, Inc. (VRX). The firm has downgraded VRX from ‘Buy’ to ‘Neutral’ and slashed its price target to $60 from $175. The name was also lowered to $40 from $75 at Canaccord Genuity, and to $53 from $106 at Jefferies.

Valeant Pharmaceuticals recently traded at $35.62, a gain of $2.11 over Tuesday’s closing price. The name has a current market cap of $12.15 billion.

Barclays PLC (BCS) had its rating lowered from ‘Outperform’ to ‘Market Perform’ by analysts at Keefe Bruyette on Wednesday.

Currently there are 15 analysts that rate BCS a ‘Buy’, 1 analyst rates it a ‘Sell’, and 5 rate it a ‘Hold’.

BCS was up $0.01 at $9.32 as of 8:28 a.m. pacific time, moving within a 52-week range of $8.52 to $18.05. The name, valued at $50.02 billion, opened at $9.33.

On valuation measures, Barclays PLC ADR shares are currently priced at 58.25x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.55. EPS for the same period registers at $0.16.

As for passive income investors, the bank pays stockholders $0.78 per share annually in dividends, yielding 8.09%.

Be the first to comment

Leave a Reply

Your email address will not be published.


*