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

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