With the stock market regularly rallying to new all-time highs, traders and investors are all but certain that some stocks are overpriced and doomed to fall.
In his new U.S. Monthly Chartbook, Goldman Sachs’ David Kostin compiled a list of 40 stocks that are trading well above Goldman analysts’ price targets.
Most of these stocks fall under the technology category.
Of these stocks, 11 would have to tumble by more than 20% to get back to Goldman’s estimate of fair value.
Sector: Hard drives
Recent Price: $36.70
Downside to Target: 21.0%
Seagate's market share degradation, margin pressure and stock price declines were recently noted by Needham and Co.
Source: Goldman Sachs, Barron's
Sector: Computer and office supplies
Recent Price: $20.60
Downside to Target: 22.3%
HP was recently the subject of a column entitled 'Will Hewlett-Packard survive its missteps?' in the San Jose Mercury News.
Source: Goldman Sachs, SJMN
Recent Price: $46.56
Downside to Target: 24.8%
Some First Solar technology remains 'mediocre' compared with peers, according to the Motley Fool.
Source: Goldman Sachs, Motley Fool
Recent Price: $14.86
Downside to Target: 26.0%
Cablevision remains in the crosshairs of New York City's comptroller over excessive executive pay and poorly performing shares.
Source: Goldman Sachs, Deadline.com
Sector: Online content
Recent Price: $52.58
Downside to Target: 27.7%
TripAdvisor recently became the subject of a prank that allowed a homeless shelter to get into their rankings of top UK lodgings.
Source: Goldman Sachs, HospitalityNet
Recent Price: $23.95
Downside to Target: 33.2%
Intel's chairman recently warned the company must 'fundamentally change' as the PC market dries up.
Source: Goldman Sachs, New York Times
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