NEW YORK ( TheStreet) -- The following stocks slumped to 52-week lows on Thursday: Credity Suisse ( CS), RadioShack ( RSH), Zipcar ( ZIP) and Cypress Semiconductor ( CY).
Credit Suisse "We view Credit Suisse as a quality franchise -- taking market share across most of its business lines," Bank of America Merrill Lynch analysts wrote in an April 26 report. "The bank has a reasonable Tier 1 ratio, a tough regulator, and it never needed direct government support. While the share price has suffered recently from negative EPS momentum, at the current valuation we see plenty of room for rerating and maintain a Buy recommendation." Shares of Credit Suisse hit a 52-week low on Thursday of $19.47. The stock's 52-week high of $43.24 was set on June 1. Credit Suisse trades at an estimated price-to-earnings ratio for next year of 5.7 times; the average for banks is 10.99. For comparison, UBS AG ( UBS) has a higher forward P/E of 7.08. The stock has fallen 16.4% year to date.