Notable Downgrades: Alibaba Group (BABA), Symantec (SYMC), Fossil Group (FOSL), JA Solar Holdings (JASO)


Analysts at Wedbush downgraded Alibaba Group Holding Limited (BABA) from ‘Outperform‘ to ‘Neutral‘ in a research report issued to clients on Wednesday.

On valuation measures, Alibaba Group Holding Ltd. ADR stock it’s trading at a forward P/E multiple of 19.66x, and at a multiple of 46.60x this year’s estimated earnings. The t-12-month revenue at Alibaba Group is $12.27 billion. BABA ‘s ROE for the same period is 24.55%.

Alibaba Group Holding, currently with a median Wall Street price target of $106.00 and a high target of $137.00, dropped $4.51 to $72.83 in recent trading.

Shares of the $182.98 billion market cap company are down 25.59% since the beginning of the year.

Symantec Corporation (SYMC) was reiterated an ‘Equal Weight’ by Barclays analysts on Wednesday. The broker however, cut its price target on the stock to $24 from $26. Meanwhile, RBC Capital Markets lowered their SYMC 12-month base case estimate to $24 from $26 citing the sale of Veritas for $6.3 billion as a less tax-friendly outcome.

Symantec Corp. recently traded at $21.68, a gain of $0.34 over Tuesday’s closing price. The name has a current market capitalization of $14.83 billion.

As for passive income investors, the company pays shareholders $0.60 per share annually in dividends, yielding 2.60%.

Fossil Group, Inc. (FOSL) was reiterated as ‘Perform’ with a $70 from $85 price target on Wednesday by Oppenheimer.

FOSL was down $1.14 at $60.97 in midday trade, moving within a 52-week range of $56.96 to $115.20. The name, valued at $2.98 billion, opened at $57.00.

On valuation measures, Fossil Group Inc. shares are currently priced at 9.12x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 0.88. EPS for the same period registers at $6.69.

JA Solar Holdings Co., Ltd. (JASO) rating of ‘Outperform’ was reiterated today at RBC Capital Markets with a price target decrease of $10 from $13 (versus a $7.85 previous close).

JASO shares recently lost $0.10 to $7.75. In the past 52 weeks, shares of Shanghai, China-based company have traded between a low of $6.67 and a high of $10.80.

Shares are down 14.02% year-over-year and 4.15% year-to-date.

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