It has been a frustrating decline, but we still view this weakness in the stock as a long-term buying opportunity.
Get this delivered to your inbox, and more info about our products and services.
The shares are down about 7% in premarket trading.
We're adding back half the 80 shares we sold around $190 in May, and upgrading our rating to 1.
We're also downgrading the stock in conjunction with the sale.
We're taking half of the cash raised from the sale to add to one of the portfolio's recent spinoffs.
We're taking a small portion of the freed-up cash to nibble on shares of a second name.
We're downgrading it back to our 2 rating, meaning we would wait for a pullback before considering adding more shares.
