Review Of Analyst Downgrades This Week - Part VIII
By Robert Broens: Analysts have been sending out their research reports to their clients again this week. The following is a review of the most important downgrades for the week of May 28 till June the 1st.
Frontline
Deutsche Bank lowered its advice for Frontline (FRO) from hold to sell with a $2 price target. Shares in the shipping company have seen a rollercoaster ride this year moving up from $4 in January to $8 in March before falling back to $4 at this moment. Deutsche Bank's sell warning comes after shares have already fallen significantly. Analysts point out that there is more downside potential for the shares as the company's fleet continues to age which limits the potential earnings upside in a recovery. Furthermore the net asset value of the company is still negative.
Seagate Technology PLC
Barclays Capital lowered its advice for Seagate Technology PLC (STX) from overweight to equal weightComplete Story »
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