Analyst Coverage for October 10th, 2019

Published on: 10 Oct, 2019

Analyst Coverage for stocks on October 10th, 2019

Cisco Downgraded to Neutral

Cisco Systems, Inc. (NASDAQ: CSCO) shares declined by 2.3% on Thursday after Goldman Sachs downgraded the stock to a neutral rating. The firm noted uncertainties around trade policies that could potentially hurt Cisco’s bottom line. Additionally, Goldman also slashed its 12-month price target on the stock from USD 48 to USD 56 per share.

Apple upgraded to Buy from Neutral

Apple Inc. (NASDAQ: AAPL) shares edged higher by 1.1% on Thursday after Longbow upgraded the stock from a neutral to a buy amid demand for its new iPhone models. Longbow analyst said it expects Apple to top forecasts for its fourth quarter due to increased iPhone production and demand.

Morgan Stanley upgraded from hold to Buy

Morgan Stanley (NYSE: MS) share climbed 2% higher after Sandler O’Neill analyst upgraded the stock from a hold to a buy. The analyst said its valuation relative to other banks is “unwarranted.”

Kroger downgraded from Buy to Hold

The Kroger Co. (NYSE: KR) fell by 2.7% after Jefferies analyst downgraded the stock from a buy to a hold. The firm said its confidence in the Company has dwindled because of its ability to meet its grocery strategy and management abilities.

JPMorgan slashes Disney fourth quarter estimates

JPMorgan slashed Disney’s (NYSE: DIS) fourth quarter estimates due to its massive spending on its Disney+ streaming platform and its integration of Fox. The firm lowered its fourth quarter earnings estimates from USD 1.05 per share to USD 0.95 per share. Additionally, the firm also lowered its full-year 2020 earnings expectations from USD 6.30 per share to USD 5.50 per share.

Goldman and UBS Slash Netflix Price Target

Goldman Sachs and UBS both slashed their price targets for Netflix (NASDAQ: NFLX), citing concern over the Company’s subscriber growth. Goldman expects Netflix to report subscriber growth “modestly below guidance,” while UBS says the Company will report disappointing subscriber figures once again. UBS anticipates that Netflix will report stronger U.S. subscriber trends, however, expects international growth to be lower, citing weakness it markets like Brazil and the U.K. Goldman lowered it price targets to USD 360 per share from USD 420 per share, but reiterated its buy rating. UBS lowered its price target to USD 370 per share from USD 420 per share, but also reiterated its buy rating.


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Bryan Shin



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