PG&E Corp. (NYSE: PCG) had a double whammy of woes in 2017 with wildfires in California and the recent flooding and mudslides that haven’t helped matters. Guggenheim lowered its rating to Sell on January 2, and Goldman Sachs lowered its rating to Neutral on the same day.
PG&E shares closed down just six cents at $43.82 on Friday, but that is down from a $44.83 close on the last day of 2017. The stock has a 52-week range of $41.61 to $71.57, and its consensus target price is now under $55.
Rite Aid Corp. (NYSE: RAD) was a company that 24/7 Wall St. sees as a potential turnaround stock for later in 2018, but its stock remains battered from its 2017 highs. Evercore ISI started Rite Aid as Underperform and assigned a $1.50 price target on January 5. That was after previously closing at $2.08.
Rite Aid shares managed to rise to $2.39 after this call, and the troubled retail pharmacy chain was trading at $1.97 at the end of 2017. It has a 52-week range of $1.38 to $8.77 and a consensus analyst target of $2.07.
Snap Inc. (NYSE: SNAP) still wants to tout itself as a camera company, but the rest of us know better. Multiple analysts now see even more downside, since the social media player is having a hard time generating more users and keeping advertisers interested in a product that disappears so quickly.
Snap was downgraded to Underperform from Market Perform at Raymond James on January 12, noting that user growth will remain challenging. We also saw Morgan Stanley, with an Underperform rating, lower its price target to $10 from $11 in another cautious call. Snap was downgraded to Hold from Buy with a $15 price target at Jefferies on January 8. Cowen even cut the stock to Underperform from Market Perform with an $11 target on January 4.
Snap ended the week of January 12 with a 3.3% drop to $14.11, in a 52-week range of $11.28 to $29.44. It still somehow has a $17 billion market cap. The consensus target price was $12.33 on last look, and its stock was at $15.38 during the first two trading days of 2018.
Southern Co. (NYSE: SO) was downgraded to Sell from Neutral at Goldman Sachs on January 11, and the price target is now $45. On January 12, JPMorgan initiated the stock with an Underweight rating and a $46 price target.
It closed out Friday with a 0.9% loss for the day at $44.84, and shares hit a year low, as the 52-week range is now $44.44 to $53.51. Southern has a $50.03 consensus price target. While the $50 billion power generation provider has close to a 5% yield, this stock was $47.20 earlier in the week, and it closed out 2017 at $48.09.
Under Armour Inc. (NYSE: UAA) has seen two very cautious calls in 2018. The sports apparel maker was downgraded to Negative from Neutral with an $11 price target (versus a $15.98 close ahead of the call) at Susquehanna. This is the same as a Sell rating elsewhere, and the firm feels no serious turnaround is in sight. CFRA Research (S&P) also lowered Under Armour’s rating to Sell with a note that further weakness is expected while it is also being very promotional to generate more sales.
Under Armour shares most recently closed at $15.12, in a 52-week range of $11.40 to $31.06 and with a consensus price target of $13.91.