Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Niska Gas Storage Partners (NYSE: NKA) fell 10% today after being downgraded by an analyst.
So what: Analysts at Goldman Sachs (NYSE:GS) downgraded the stock to sell from a neutral rating because of the company's valuation, high debt, and the low price of natural gas. The price target from Goldman is $11 per share.
Now what: Nothing really earth shattering here for investors. Analyst downgrades can sometimes lead to a big move in the stock but it's usually short-term in nature. That said, I have to agree that this stock is a sell and I'd be getting out now if you didn't after the latest in a string of big earnings misses.
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