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Options update: Target elevated as shares near 16-month low

Target Corp. (NYSE: TGT) issued a weaker than expected mid-month sales update on December 24. TGT is recently trading at $50.90. TGT will report December sales on January 10. Jeffries has a hold rating on TGT. TGT over all option implied volatility of 44 is above its 26-week average of 37 according to Track Data, suggesting larger risk.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Analyst downgrade 5-09-07: CSCO, ERTS, MDRX, MVL and THC

MOST NOTEWORTHY: Marvel Entertainment, Inc (MVL), Electronic Arts Inc (ERTS), ION Media Networks Inc (ION), Allscripts Healthcare Solutions, Inc (MDRX) and Tenet Healthcare Corp (THC) were today's noteworthy downgrades:
  • JP Morgan downgraded Marvel Entertainment (NYSE: MVL) to Neutral from Overweight based on the lack of near-term catalysts.
  • Gabelli downgraded Electronic Arts (NASDAQ: ERTS) to Hold from Buy on reduced 2008 expectations. The firm expects Electronic to lose market share given the lack of Q1 product launches.
  • CRT downgraded ION Media Networks (AMEX: ION) to Sell from Buy and recommends taking profits at these levels as shares are approaching Citadel LP's offer of $1.46 per share.
  • Jefferies downgraded Tenet Healthcare (NYSE: THC) to Underperform from Hold with a $5.50 target to reflect weak volumes.
OTHER DOWNGRADES: Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 09:29 AM

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