This morning, UBS reduced its price target on shares of JC Penney (JCP) to $4 as sales are recovering slower than expected. In the report, UBS also lowered its EPS estimates on the retailer while reiterating its sell rating. Shares of JCP were higher on Wednesday, climbing 2.7% despite the UBS report.
Goldman Sachs removed Oasis Petroleum (OAS) from its conviction buy list as the company is seeing higher costs and lower production volumes. In the report, Goldman set a $53 price target. Shares of Oasis Petroleum were relatively flat today, trading just above $39 per share.
And Bank of America downgraded shares of Angie's List (ANGI) from buy to neutral as consensus estimates appear too high for the company. In the report, Bank of America noted that the stock has gained more than 24% since the beginning of the year and is due for a pullback. Bank of America has a $22 price target on the stock. Shares of Angie's List were sharply lower on the news, falling nearly 10% today.
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