In Wednesday’s Analysts’ Actions, Wall Street analysts are siding with the bears on Twitter (TWTR) and Micron Technology (MU) but issue a bullish note for Coach (COH). Twitter’s future is looking gloomy. Morgan Stanley downgraded the company to UNDERWEIGHT from EQUAL WEIGHT and cut its price target to $24 from $36. The firm cited limited user growth and slowing engagement. Another downside is that mobile competition is rising, which is putting a lid on the company’s earnings growth. Adding to that, analysts said Twitter’s ad pricing is too high. A similar story for Micron Technology. Bank of America Merrill Lynch dropped its rating to UNDERPERFORM from NEUTRAL and reduced its price target to $12.50 from $17. Analysts said this is due to Intel’s ‘unexpected capex plan,’ which may conflict with Micron’s NAND business. Given this reason, analysts are now bearish. Morgan Stanley gave Coach some positive comments. The firm upgraded the fashion company to EQUAL WEIGHT from UNDERWEIGHT. It appears that sale trends are gradually recovering. On top of this, management initiatives should stabilize its business. Analysts are keeping their $27 price target on the stock. TheStreet’s U-Jin Lee reports in New York.
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