Analysts: Marathon’s Earnings Are a Problem and 3 More Notes to Contemplate
Marathon Petroleum (NYSE:MPC): Macquarie downgraded Marathon from Outperform to Neutral due to earnings concerns for the second half of the year, as well as high Street expectations and valuation. The price target was also lowered, to $83 from $94.
Broadcom (NASDAQ:BRCM): UBS downgraded Broadcom from Buy to Neutral, citing slowing smartphone growth, moderate cellular system-on-chip growth, and headline risk from combo connectivity chip share loss. The price target was lowered to $30 from $35.
OpenTable (NASDAQ:OPEN): Citigroup says that while OpenTable’s third-quarter and full-year revenue for 2013 and adjusted EBITDA guidance missed expectations, implied fourth-quarter outlook may prove too aggressive. The firm keeps a Sell rating on shares with a $58 price target following the company’s second-quarter results.
Onyx Pharmaceuticals (NASDAQ:ONXX): Jefferies downgraded Onyx from Buy to Hold, citing its valuation, but raised its price target for shares to $132 from $104. The firm sees limited upside from current levels given the likelihood of a buyout deal closing between $140 and $145 per share.