Barclays Morning Research Summary: Commodities, Comcast And Healthcare In Focus

Barclays has downgraded Plains GP Holdings LP PAGP, while revising the price targets of Comcast Corporation CMCSA, Johnson & Johnson JNJ, Juno Therapeutics Inc JUNO and Plains All American Pipeline, L.P. PAA.

The brokerage has downgraded Plains GP to Equal Weight from Overweight on dividend concerns. However, analyst Christine Cho raised the price target to $11 from $8.

Related Link: Plains GP Holdings Downgraded At Barclays On Dividend Concerns

Meanwhile, Barclays has raised the price target of Comcast to $69 (prior: $65), Johnson & Johnson to $125 (prior: $120) and Plains All American to $30 (prior: $23). The brokerage has an Overweight rating on Comcast and Johnson & Johnson, while remaining Equal Weight on Plains All American.

In addition, Barclays slashed the price target of Juno Therapeutics by 27 percent to $35 after it announced the death of two cancer patients in a mid-stage study of JCAR015. That said, the brokerage remains Equal Weighted on the stock.

Related Link: Juno Therapeutics Plunges 30% After 2 Patient Deaths From Lead Cancer Drug

"[W]e are lowering our PT on JUNO to $35 (from $48), reflecting a delay in approval on the ROCKET trial, lowered probability of success for this trial, and an higher discount rate - pending clarity on the potential impact on other programs," analyst Jonathan Eckard wrote in a note.

At Time Of Writing...

  • Plains GP shares were flat at $9.90.
  • Plains All American rose 1.30 percent to $27.18.
  • Comcast gained 0.47 percent to $66.57.
  • Johnson & Johnson were up 0.02 percent to $122.52.
  • Juno Therapeutics plunged 32.08 percent to $27.73.
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Posted In: Analyst ColorBiotechDowngradesHealth CarePrice TargetCommoditiesReiterationMarketsAnalyst RatingsGeneralBarclaysJonathan Eckard
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