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Fly News Breaks for August 30, 2016
MRO, RICE, SIG, MANT, IMPV, ADSK
Aug 30, 2016 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Autodesk (ADSK) downgraded to Sell from Neutral at Rosenblatt, as analyst Kirk Adams believes the shares are "priced for perfection" through fiscal year 2020. 2. Pacific Crest analyst Rob Owens downgraded Imperva (IMPV) to Sector Weight from Overweight, saying the company's fundamentals continue to be challenged. The analyst sees a "limited number" of strategic suitors for Imperva and thinks the current share price could prevent "meaningful upside" should a buyer step in. Owens coupled the downgrade with upgrades this morning of Barracuda (CUDA) and Fortinet (FTNT) to Overweight. 3. ManTech (MANT) downgraded to Underperform from Market Perform at Wells Fargo, with analyst Ed Caso citing valuation. Caso believes the shares are "ahead of themselves" and he keeps a $33-$34 price target range for the name. 4. Signet Jewelers (SIG) downgraded to Neutral from Overweight at JPMorgan by analyst Anne Samuel, citing fundamental headwinds after the company lowered its 2017 outlook. 5. Seaport Global analysts led by Mike Kelly downgraded Rice Energy (RICE) and Marathon Oil (MRO), each to Neutral from Buy, citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For ADSK;IMPV;MANT;SIG;RICE;MRO From the Last 2 Days
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MRO
Apr 17, 2024 | 07:05 EDT
Wells Fargo analyst Roger Read raised the firm's price target on Marathon Oil to $39 from $36 and keeps an Overweight rating on the shares. Based on robust operational momentum, the firm sees potential upside to FY24 U.S. onshore oil production estimate, translating to another year of higher-than-expected U.S. supply growth. Continued D&C efficiency improvements, incremental cost deflation, and a focus on high grading should combine to create positive momentum throughout 2024, Wells adds. Marathon remains the firm's top pick of oil-weighted E&Ps.