Stock Market News on Major Stock Downgrades (SNDA, NFLX, LNCR)

Shanda Interactive Entertainment Ltd ADR (NASDAQ:SNDA) shares slid 2.10% to $39.95 after it was downgraded at Goldman Sachs from “Neutral” to “Sell”. However, the firm raised the price target by $1 to $39.

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The firm cited that the recent outperformance and the prevailing market price is at a premium of its valuation. It also added that Shanda’s key independent asset, Ku6, is a traffic laggard vs. online video leaders and its path to profitability is unclear at this stage

So far this year, shares of SNDA have fallen about 22%, compared to a fall of 3% in S&P 500. Analysts anticipate that the company will report earnings of $2.54 a share in fiscal 2010. The median Wall Street price target on the stock is $47 and the high target is set at $55. The 50- Day Moving Average and 200-Day Moving Average prices are $42.88 and $46.48 respectively.

Netflix, Inc. (NASDAQ:NFLX) shares also downgraded by Stifel Nicolaus from “Buy” to “Hold”. Shares of NFLX are down 3.25% to $122.69.

So far this year, shares of NFLX have risen about 128%. Analysts anticipate that the company will report earnings of $2.65 a share in fiscal 2010. The median Wall Street price target on the stock is $93 and the high target is set at $133.00. The 50- Day Moving Average and 200-Day Moving Average prices are $105.45 and $75.41 respectively.

Netflix, Inc. is a subscription service streaming movies and television episodes over the Internet and sending digital versatile discs (DVDs) by mail to more than 12 million subscribers.

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Lincare Holdings Inc. (NASDAQ:LNCR) shares are down over 2% after analysts at Susquehanna lowered the rating to Neutral from Positive, citing NCR has appreciated 142% over the last year and is now within 10% of our price target. The next month represents the period of greatest uncertainty this year for LNCR investors, as CMS is expected to release bid rates for its first round of Medicare competitive bidding.

So far this year, shares of LNCR have increased over 30% and trading very near to its 52-week high of $50.18. Analysts anticipate that the company will report earnings of $2.82 a share in fiscal 2010.

The median Wall Street price target on the stock is $51 and the high target is set at $51.50 with majority of analysts have a Hold rating on the company’s stock. The stock is trading above both the 50- Day Moving Average and 200-Day Moving Average prices are $46.61 and $41.95 respectively.

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