NEW YORK / ACCESSWIRE / May 22, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for J.C. Penney Company, Nokia Corporation, Twitter Inc, Amazon.com Inc
Another day, another downer for J.C. Penney Company, Inc.(NYSE:JCP). Yesterday, JC Penney fell after Maxim Group said JC Penney didn’t deserve to head higher (although it probably would). Today, shares of the retailer have dropped again after Wells Fargo downgraded its shares. Analyst Paul Lejuez explains why he cut JC Penney:
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JC Penney is making progress, but to see the stock up 12% post earnings (vs. the S&P 500 +1%) tells us the market may not be fully appreciating what is priced into the stock right now. We are revisiting our ”Wealth Transfer” thesis, meaning that JC Penney’s high level of debt likely leaves very little value left for equity holders, a concept which we believe is extremely important to understand for those that are intrigued by slightly better comps in Q1. Considering this dynamic, we believe the stock is overvalued at current levels and are downgrading JC Penney shares to Underperform from Market Perform…
Nokia Corporation (ADR) (NYSE:NOK) shares were up 5% to $7.62 after being upgraded to “buy” from “hold” by analysts at Jefferies (JEF).
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The firm also raised their price target to $10.31 from $7.32. The new price target suggests a 42% increase from the stock’s previous close.
Ben Rose of boutique research firm Battle Road Research today started coverage of Twitter Inc(NYSE:TWTR) with a Sell rating, and a price target of $26, writing that "we emerge with several key concerns relating to its business model and ability to scale profitably."
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"Our key concerns relate to the relative lack of maturity of Twitter’s business model, question surrounding its earnings quality, as well as balance sheet concerns, including a level of capital expenditures that cannot be covered by its projected operating cash flow," writes Rose. "An additional concern is valuation, particularly in comparison to its online advertising peers."
Amazon.com, Inc.(NASDAQ:AMZN) started streaming HBO (TWX) content that is over three years old today under the terms of the new licensing deal between the companies. Earlier this week, Netflix (NFLX +2%) CFO David Wells confirmed his firm didn't bid for the rights to HBO content as it reiterated its commitment to develop original series and license exclusive rights to content.
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SOURCE: Market Buzz Report