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GOOG

Alphabet

$745.91

4.14 (0.56%)

, GOOGL

Alphabet Class A

$765.84

3.87 (0.51%)

12:18
07/29/16
07/29
12:18
07/29/16
12:18

On The Fly: Top stock stories at midday

The Wall Street averages were mixed this morning in a reflection of the mixed nature of the most closely watched earnings reports from last night and this morning, as two of the biggest names in tech impressed and the two largest U.S. energy companies disappointed. The Dow, while still the laggard, is well off its lows and back above the flat line, while the Nasdaq and S&P have moved to session highs near noon. Oil prices have also recovered and moved back into positive territory, but still remain near a three-month low. ECONOMIC EVENTS: In the U.S., gross domestic product grew at only a seasonally adjusted annual rate of 1.2% in the second quarter, well below the 2.6% growth economists had forecast. The Chicago PMI Business Barometer Index came in at 55.8, better than the 54.0 reading expected. The University of Michigan's consumer sentiment survey fell to 90.0 in the final read for July, down from June's 93.5 reading. Baker Hughes' weekly rig count is expected to be reported near 1 pm ET. In Asia, the Bank of Japan said it would double its ETF asset purchase target to Y6T from Y3.3T but left unchanged its other policy tools, including the monetary base target and the deposit rate. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced nearly 5% after Google's parent company announced better-than-expected second quarter results, which sparked several price target hikes from Wall Street analysts. Similarly, Amazon (AMZN) shares are up 1.5% near noon on the heels of the e-commerce and cloud giant posting its third consecutive record profit... On the other end of the spectrum, earnings at Exxon Mobil (XOM) missed expectations, with the company blaming sharply lower commodity prices, weaker refining margins and the "volatile industry environment." Chevron (CVX) surprised with a quarterly loss as the company recorded impairments and other non-cash charges totaling $2.8B on certain assets where revenue from expected oil and gas production is expected to be insufficient to recover costs... Merck (MRK) reported better than expected quarterly profits and raised the bottom end of its full-year earnings range, while pharmaceutical industry peer AbbVie (ABBV) reported better than expected sales and profits and raised its fiscal year outlook "reflecting strong underlying business performance year-to-date and the expected continued positive trends" over the rest of the year. MAJOR MOVERS: Among the notable gainers was Newell Brands (NWL), which gained almost 6% near noon after reporting quarterly results. Additionally, Molson Coors (TAP) rose about 4% after Citi analyst Wendy Nicholson upgraded the stock to Buy, citing the recent pullback in the shares. The analyst is optimistic that both the AB InBev (BUD)/SABMiller (SBMRY) and Molson Coors/MillerCoors transactions will close in early Fall, which is a view supported by the news this morning that SABMiller's Board has now met formally and intends to recommend unanimously the revised and final offer announced by Anheuser-Busch InBev. Among the noteworthy losers was Seres Therapeutics (MCRB), which dropped over 73% after the company announced it did not achieve primary endpoint in its Phase 2 clinical study of SER-109 for the prevention of multiply recurrent Clostridium difficile infection. Also lower was Stericycle (SRCL), which slipped about 16% after the company reported inline results, but gave an earnings per share outlook that was well below consensus. Imperial Capital analyst Scott Levine downgraded Stericycle to Underperform following the results. Additionally, Wynn Resorts (WYNN) slid more than 5% after the company reported stronger than expected second quarter results, but said that it would not be able to operate as many tables in one of its Macau casinos as it had previously expected. Following the announcement, the stock was downgraded to Reduce from Neutral at Nomura and to Underperform from Outperform at CLSA. INDEXES: Near midday, the Dow was up 6.99, or 0.04%, to 18,463.34, the Nasdaq was up 19.75, or 0.38%, to 5,174.74, and the S&P 500 was up 6.62, or 0.31%, to 2,176.68.

GOOG

Alphabet

$745.91

4.14 (0.56%)

GOOGL

Alphabet Class A

$765.84

3.87 (0.51%)

AMZN

Amazon.com

$752.61

15.94 (2.16%)

XOM

Exxon Mobil

$88.47

-1.73 (-1.92%)

CVX

Chevron

$101.66

-0.13 (-0.13%)

MRK

Merck

$58.71

0.28 (0.48%)

ABBV

AbbVie

$66.27

1.55 (2.39%)

NWL

Newell Brands

$52.43

3.04 (6.16%)

TAP

Molson Coors

$101.97

4.22 (4.32%)

BUD

AB InBev

$129.48

3.555 (2.82%)

SBMRY

SABMiller

$57.55

1.3 (2.31%)

MCRB

Seres Therapeutics

$35.77

0.68 (1.94%)

SRCL

Stericycle

$105.93

-0.55 (-0.52%)

WYNN

Wynn Resorts

$104.66

2.42 (2.37%)

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GOOG Alphabet
$745.91

4.14 (0.56%)

07/29/16
OPCO
07/29/16
NO CHANGE
Target $970
OPCO
Outperform
Alphabet price target raised to $970 from $958 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Alphabet (GOOG) to $970 from $958 following "strong" Q2 results. The analyst says concerns of share loss to Facebook (FB) seem unfounded, and notes that Alphabet continues to gain share from traditional media/legacy display. He reiterates an Outperform rating on Alphabet's shares.
07/29/16
JEFF
07/29/16
NO CHANGE
Target $1000
JEFF
Buy
Alphabet price target raised to $1,000 from $925 at Jefferies
Jefferies analyst Brian Pitz raised his price target for Alphabet to $1,000 saying the company's Q2 beat reflects accelerating growth at Google Websites, namely mobile search and YouTube. The analyst continues to believe that online video is the biggest online ad growth driver and YouTube is the premier vehicle to play that trend. He reiterates a Buy rating on Alphabet. The shares are up 4% to $798.60 in pre-market trading.
07/29/16
JPMS
07/29/16
NO CHANGE
Target $950
JPMS
Overweight
Alphabet price target raised to $950 from $920 at JPMorgan
JPMorgan analyst Doug Anmuth raised his price target for Alphabet to $950 saying the company's revenue growth accelerated in Q2. The analyst reiterates an Overweight rating on the shares.
07/29/16
NEED
07/29/16
NO CHANGE
Target $900
NEED
Buy
Alphabet price target raised to $900 from $825 at Needham
Needham analyst Kerry Rice raised his price target for Alphabet to $900 from $825 after the company delivered "strong" Q2 upside highlighted by accelerating Google Website's growth and rising operating margin year over year in its Google segment. Mobile search was the key growth driver in Q2 with YouTube and programmatic supplementing the "strong" growth, the analyst tells investors in a research note. Needham has a Buy rating on the shares.
GOOGL Alphabet Class A
$765.84

3.87 (0.51%)

07/29/16
PACS
07/29/16
NO CHANGE
PACS
Alphabet 'hit a home run,' says Pacific Crest
Pacific Crest analyst Evan Wilson says that Alphabet exceeded Q2 expectations by a large amount. The analyst says he's still "excited" about the company's revenue growth, expense control and cash return levels. He raised his price target on the shares to $960 from $910 and recommends buying the stock.
AMZN Amazon.com
$752.61

15.94 (2.16%)

07/29/16
RBCM
07/29/16
NO CHANGE
RBCM
Amazon.com price target raised to $840 from $800 at RBC Capital
After Amazon reported better than expected results, RBC Capital analyst Mark Mahaney says that investors were concerned about the company's lower than expected Q3 operating income guidance. The analyst notes that the company's retail growth accelerated, while AWS outperformed last quarter. Moreover,, Mahaney expects Amazon's revenue growth to remain strong while its margins continue to rise going forward. He keeps an Outperform rating on the shares.
07/29/16
OPCO
07/29/16
NO CHANGE
Target $941
OPCO
Outperform
Amazon.com price target raised to $941 from $930 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Amazon.com to $941 from $930 following "exceptional" Q2 results on revenue and margins. The analyst says Amazon.com is one of the few large-cap companies benefiting from the secular shift to eCommerce, continuing to gain share of U.S. eCommerce with its deep product selection, low-cost express delivery through its Prime program, and breakthrough success of Kindle and other emerging media content. Helfstein reiterates an Outperform rating on the shares.
07/29/16
NEED
07/29/16
NO CHANGE
NEED
Hold
Needham remains cautious on Amazon.com given accelerating investments
Following Amazon's quarterly results, Needham analyst Kerry Rice says he expects gross margin to expand, but heavy investment in content and infrastructure in the second half of 2016 may moderate consolidated segment operating income, or CSOI, growth. While Rice is encouraged by the accelerating revenue growth and higher levels of operating income, he remains "somewhat cautious" on Amazon.com given the expectations for accelerated investment in the second half of the year. Needham has a Hold rating on the shares.
07/29/16
BMOC
07/29/16
NO CHANGE
BMOC
Amazon investments to limit Q3 profit, says BMO Capital
BMO Capital analyst Daniel Salmon says that Amazon's Q3 operating profit guidance came in below expectations largely because of investments that the company is making in capacity for the holiday season and in content for its digital offering. The analyst thinks that the company's consolidated margins will increase going forward, and he says that AWS posted strong results. Salmon raised his price target on the shares to $875 from $800 and keeps an Outperform rating on the stock.
XOM Exxon Mobil
$88.47

-1.73 (-1.92%)

06/02/16
BOFA
06/02/16
DOWNGRADE
BOFA
Neutral
Exxon Mobil downgraded to Neutral from Buy at BofA/Merrill
07/05/16
FBCO
07/05/16
NO CHANGE
FBCO
Outperform
Fluor scope on 'imminent' project could be multiple billions, says Credit Suisse
Credit Suisse Jamie Cook noted that the Tengizchevron joint venture, which is 50% owned by Chevron (CVX), 25% by ExxonMobil (XOM), 20% owned by KazMunayGas, and 5% owned by Lukoil, has announced plans to move forward with the TCO project, adding that Fluor (FLR) has been doing extensive work on TCO with its JV partner WorleyParsons and that most investors believed the likelihood of this project moving forward was "minimal." Cook, who believes Fluor's scope on this project could be "north of a couple billion" and that the company could book this award in Q2 or Q3 of this year, has an Outperform rating on Fluor shares.
06/02/16
06/02/16
DOWNGRADE

Neutral
Exxon Mobil downgraded to Neutral on valuation at BofA/Merrill
As previously reported, BofA/Merrill downgraded Exxon Mobil to Neutral from Buy. Analysts led by Doug Leggate said Exxon's strong relative performance discount's long-term oil at around $73/bbl and said shares appear to be fairly valued.
06/02/16
06/02/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Exxon Mobil (XOM) downgraded to Neutral from Buy at BofA/Merrill with analysts led by Doug Leggate saying Exxon's strong relative performance discount's long-term oil at around $73/bbl and said shares appear to be fairly valued. 2. Intuitive Surgical (ISRG) downgraded to Neutral from Buy at Goldman with analyst David Roman saying the risk/reward looks balanced at current share levels. Roman lowered his price target for the stock to $674 from $690. 3. DeVry (DV) downgraded to Neutral from Outperform at Credit Suisse with analyst Trace Urdan saying he no longer feels confident in his investment thesis following the resignation of CFO Tim Wiggins. 4. Franklin Resources (BEN) downgraded to Sell from Neutral at UBS with analyst Brennan Hawken arguing the company is the most exposed to the Department of Labor's fiduciary rule of the names he covers given its reliance on the broker sold channel coupled with weak investment performance. He cut his price target for the shares to $28 from $39. 5. Progressive (PGR) downgraded to Sell from Neutral at Citi with analyst James Naklicki saying consensus margin and earnings expectations are too optimistic. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CVX Chevron
$101.66

-0.13 (-0.13%)

05/17/16
ARGS
05/17/16
NO CHANGE
ARGS
Chevron price target raised to $118 from $100 at Argus
Argus raised its price target on Chevron citing the increase in crude oil prices and its belief that the company's dividend is secure. The firm says that the company's cash flow should be boosted by its recently completed projects. Argus keeps a Buy rating on the shares.
04/13/16
LYON
04/13/16
NO CHANGE
LYON
Russian oil minister sees 'loosely-framed' oil output deal, Reuters reports
Russian oil minister Alexander Novak said he expects the upcoming oil output freeze deal to be signed by some of world's top oil producers when they meet in Doha to be "loosely-framed with few detailed commitments," according to Reuters, citing sources recounting Novak's comments during a closed-door briefing. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
04/04/16
JEFF
04/04/16
NO CHANGE
Target $110
JEFF
Buy
Jefferies says Chevron still top pick in Integrated Oil
Jefferies analyst Jason Gammel says Chevron his firm's top pick in the Integrated Oil sector. The company is positioned to generate the highest organic production growth in the space and its free cash flow generation should "improve significantly" through 2018, Gammel tells investors in a research note. He believes Chevron can fund its dividend with free cash flow with a Brent oil price as low as $50 per barrel. The analyst keeps a Buy rating on the stock with a $110 price target.
MRK Merck
$58.71

0.28 (0.48%)

07/18/16
07/18/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 3D Systems (DDD) downgraded to Underweight from Neutral and Stratasys (SSYS) downgraded to Neutral from Overweight at Piper Jaffray with analyst Troy Jensen saying his channel checks and quarterly 3D printing survey indicated the industry experienced a "significant slowdown in system demand" in the June quarter. 2. Infosys (INFY) downgraded to Neutral from Outperform at Credit Suisse and to Neutral from Buy at Nomura. Credit Suisse analyst Anantha Narayan downgraded Infosys citing a lack of near-term catalysts for shares to move higher amid the company's slowing growth. 3. KB Home (KBH) downgraded to Neutral from Buy at Buckingham with the firm citing moderating 2017 earnings growth, leverage and inconsistent execution, and recent share strength. 4. CONSOL (CNX) and Devon Energy (DVN) downgraded to Accumulate from Buy at KLR Group with analyst John Gerdes citing valuation. 5. Merck (MRK) downgraded to Market Perform from Outperform at BMO Capital with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/18/16
BMOC
07/18/16
DOWNGRADE
BMOC
Market Perform
Merck downgraded on valuation at BMO Capital
As noted earlier, BMO Capital downgraded Merck to Market Perform from Outperform. The firm downgraded the stock based on valuation. Target $62.
07/18/16
BMOC
07/18/16
DOWNGRADE
BMOC
Market Perform
Merck downgraded to Market Perform from Outperform at BMO Capital
07/14/16
JEFF
07/14/16
NO CHANGE
JEFF
AbbVie remains Jefferies' Top Pick in Global Pharma
Jefferies analyst Jeffrey Holford says AbbVie (ABBV) remains his firm's Top Pick in Global Pharmaceuticals, followed by Eli Lilly (LLY), Novartis (NVS), GlaxoSmithKline (GSK) and Zoetis (ZTS). The analyst this morning upgraded GSK to Buy from Hold. Holford also remains positive on Roche (RHHBY), Abbott (ABT) and Pfizer (PFE). The analyst's least preferred names are Novo Nordisk (NVO), Johnson & Johnson (JNJ) and Merck (MRK). The Q2 earnings season offers "few clear beat and raise" stories and looks weakest for AstraZeneca (AZN) against preliminary consensus, Holford tells investors in a pre-earnings research note.
ABBV AbbVie
$66.27

1.55 (2.39%)

07/01/16
MZHO
07/01/16
NO CHANGE
Target $8
MZHO
Buy
OraSure, AbbVie HVC agreement termination not a negative, says Mizuho
Mizuho analyst Eric Criscuolo believes the termination of OraSure's (OSUR) HCV co-promotion agreement with AbbVie (ABBV) is less a negative than may appear. The analyst does not forecast a negative impact to product sales, and sees the $12M per year in exclusivity revenue from 2017-2019 that goes away as the biggest downside since the deal never had the positive impact that was expected. Furthermore, expenses will fall and OraSure's HCV control will increase, Criscuolo tells investors in a research note, adding that a "potentially lucrative" international HCV contract and additional molecular customers make him positive on growth drivers. He reiterates a Buy rating and $8 price target on OraSure's shares.
06/15/16
RBCM
06/15/16
DOWNGRADE
RBCM
Sector Perform
Infinity Pharmaceuticals downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded Infinity (INFI) after the company announced a restructuring and said it hoped duvelisib as a monotherapy would have provided a larger clinical benefit for patients with advanced indolent non-Hodgkin lymphoma. The firm says it's unclear if the FDA will accept a filing by Infinity, while it's also unclear if AbbVie (ABBV) will continue its partnership with the company. Target to $2 from $12.
06/16/16
LEER
06/16/16
NO CHANGE
Target $104
LEER
Outperform
Vertex remains ahead in cystic fibrosis, says Leerink
During their Annual R&D Update, Leerink analyst Geoffrey Porges says Galapagos (GLPG) presented the development plans for its cystic fibrosis franchise, in partnership with AbbVie (ABBV), which is a current threat to Vertex (VRTX). The announcement represents an "aggressive timeline" that would allow for a pivotal phase 3 for Galapagos' triple combination to begin in 2018 as a best case scenario, Porges tells investors in a research note. Nonetheless, the analyst believes Vertex's next generation combinations are much further along in development, with the company currently having a number of dual combination phase 3 trials underway. Porges reiterates an Outperform rating and $104 price target on Vertex's shares.
NWL Newell Brands
$52.43

3.04 (6.16%)

05/09/16
JEFF
05/09/16
NO CHANGE
Target $59
JEFF
Buy
Newell Brands price target raised to $59 from $53 at Jefferies
Jefferies analyst Kevin Grundy raised his price target for Newell Brands to $59 saying the company's Q1 results were good and its outlook for FY16 is even better. The stock remains a top pick of Grundy's.
04/18/16
MSCO
04/18/16
NO CHANGE
Target $55
MSCO
Overweight
Newell Brands valuation does not reflect earnings potential, says Morgan Stanley
Morgan Stanley analysts led by Dara Mohsenian said Newell Brands' valuation does not accurately reflect strong growth potential and earnings upside following the Jardan acquisition. The analyst said overblown bear concerns have dragged down Newell's valuation and she is confident in management's ability to drive shareholder value over the next few years. Mohsenian reiterates her Overweight rating and Newell as a top HPC Pick.
04/08/16
JEFF
04/08/16
NO CHANGE
Target $51
JEFF
Buy
Newell Rubbermaid offers 'very good value' at these levels, says Jefferies
After hosting the company's NWL's VP of Investor Relations, Nancy O'Donnell, Jefferies analyst Kevin Grundy says shares of Newell Rubbermaid offer "very good value here for investors." The analyst continues to see a path to $73 per share over the next two-to-three years. Grundy views Newell as a top pick and keeps a Buy rating on the name with a $51 price target.
05/19/16
RBCM
05/19/16
NO CHANGE
RBCM
Newell Brands new CFO has several positive attributes, says RBC Capital
RBc Capital believes that Newell's (NWL) new CFO, Ralph Nicoletti, will bring "increased financial discipline," a focus on total shareholder returns, "and a very analytical, research driven approach to decision making and strategy" to the position. The firm notes that some investors have been concerned about the 36% underperformance by Tiffany's (TIF) stock during his tenrue at that company. However, RBC says that Tiffany's results have always been "volatile," particularly recently due to macro issues. RBC says that the shares of Alberto-Culver and Cigna (CI) outperformed during Nicoletti's stints as CFO of those companies. RBC keeps a $60 price target and Top Pick rating on Newell.
TAP Molson Coors
$101.97

4.22 (4.32%)

06/07/16
SUSQ
06/07/16
NO CHANGE
Target $130
SUSQ
Positive
Molson Coors investor day unlikely to move stock, says Susquehanna
Susquehanna noted the recent outperformance of Molson Coors shares and said they do not believe the company's upcoming investor day will move the shares. The firm feels better catalysts would be cost savings opportunities, plans to improve the brand portfolio, and more quantifiable explanations for the profit margin gap up for MillerCoors. Susquehanna reiterated its Positive rating and $130 price target on Molson Coors shares.
07/29/16
SBSH
07/29/16
UPGRADE
Target $115
SBSH
Buy
Molson Coors upgraded to Buy from Neutral at Citi
Citi analyst Wendy Nicholson upgraded Molson Coors (TAP) to Buy citing the recent pullback in the shares. The analyst is optimistic that both the AB InBev (BUD)/SABMiller (SBMRY) and Molson Coors/MillerCoors transactions will close in early Fall 2016. Nicholson raised her price target for the shares to $115 from $101.
05/04/16
STFL
05/04/16
NO CHANGE
STFL
Molson Coors 'underlying outlook improving,' says Stifel
After Molson Coors reported stronger than expected Q1 results, Stifel says that the company's "underlying outlook is improving," particularly in Europe and the U.S. The firm raised its price target on the name to $119 from $115 and keeps a Buy rating on the shares.
07/29/16
07/29/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Dow Chemical (DOW) upgraded to Overweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying global demand is "holding up generally well" following the company's second quarter results. 2. Molson Coors (TAP) upgraded to Buy from Neutral at Citi with analyst Wendy Nicholson citing the recent pullback in the shares. 3. Oshkosh (OSK) upgraded to Outperform from Sector Perform at RBC Capital with analyst Seth Weber saying he believes that the outlook for the company's Acess equipment and defense units has improved. 4. Pinnacle Foods (PF) upgraded to Buy from Hold at Stifel. 5. Western Digital (WDC) upgraded to Outperform from Neutral at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BUD AB InBev
$129.48

3.555 (2.82%)

07/13/16
ROTH
07/13/16
NO CHANGE
Target $15
ROTH
Buy
Roth Capital remains a buyer of Craft Brew amid takeover speculation
Roth Capital analyst Anton Brenner says Craft Brew Alliance's (BREW) shares have appreciated sharply recently, largely on speculation of an acquisition of the company, or of the fast-growing Kona brand, fueled by Anheuser-Busch Inbev's (BUD) 32% ownership of Craft Brew. The analyst notes that such a transaction suggests "significant upside potential." Nonetheless, he reiterates a Buy rating on Craft Brew's shares with a $15 price target primarily on the expectation of an acceleration in volume growth and profit margin expansion over the next three years.
07/19/16
STFL
07/19/16
NO CHANGE
STFL
SABMiller deal could be blocked, terms may be sweetened says Stifel
Stifel believes that a minority SABMiller (SBMRY) shareholders could "effectively block" the company's proposed acquisition by AB InBev (BUD). The firm thinks that the deal's small premium and "the illiquidity" of AB's stock that would be transferred in the alternative, partial stock offering could motivate SABMiller's shareholders to block the deal. The firm thinks that AB InBev could sweeten the terms of the deal.
07/28/16
07/28/16
DOWNGRADE

AB InBev downgraded to Hold from Add at Bank Degroof Petercam
SBMRY SABMiller
$57.55

1.3 (2.31%)

03/22/16
03/22/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. EP Energy (EPE) downgraded to Underperform and Underweight at BofA/Merrill and Capital One, respectively, with analysts saying EP Energy's planned sale of Haynesville for $420mm is not a surprise and balance sheet headwinds remain. BofA/Merrill continues to see leverage as a headwind and does not see how the company can live within its cash flow while production declines in 2016. 2. Amazon.com (AMZN) downgraded to Outperform at Raymond James by analyst Aaron Kessler, who expects Amazon's pace of margin expansion to slow and he sees increased competition to its Web Services unit from Google's (GOOG, GOOGL) Cloud Platform. 3. Copa Holdings (CPA) downgraded to Sell at Evercore ISI by analyst Duane Pfennigwerth, who cited recent shares strength. 4. Infinity Pharmaceuticals (INFI) downgraded to Underperform from Neutral at Wedbush. 5. SABMiller (SBMRY) downgraded to Underperform at CLSA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/22/16
LYON
03/22/16
DOWNGRADE
LYON
Underperform
SABMiller downgraded to Underperform from Outperform at CLSA
MCRB Seres Therapeutics
$35.77

0.68 (1.94%)

03/30/16
FBRC
03/30/16
INITIATION
Target $40
FBRC
Outperform
Seres Therapeutics initiated with an Outperform at FBR Capital
FBR Capital analyst Vernon Bernardino started Seres Therapeutics with an Outperform rating and $40 price target.
03/03/16
GUGG
03/03/16
INITIATION
Target $41
GUGG
Buy
Seres Therapeutics initiated with a Buy at Guggenheim
Target $41.
06/06/16
COWN
06/06/16
INITIATION
COWN
Outperform
Seres Therapeutics initiated with an Outperform at Cowen
Cowen analyst Ritu Baral initiated Seres Therapeutics with an Outperform citing high confidence of success in the very near-term Phase II data of lead microbiome candidate SER-109 in prevention of multiply recurrent C. Diff infection. He also sees meaningful value in MCRB's platform and pipeline including Ph2-ready SER-262 for prevention of primary CDI recurrence and Ph1/2 SER-287 in ulcerative colitis.
07/29/16
HCWC
07/29/16
INITIATION
Target $50
HCWC
Buy
Seres Therapeutics assumed with a Buy at H.C. Wainwright
H.C. Wainwright analyst Carol Ann Werther resumed coverage of Seres Therapeutics with a Buy rating and $50 price target.
SRCL Stericycle
$105.93

-0.55 (-0.52%)

07/18/16
JEFF
07/18/16
NO CHANGE
Target $140
JEFF
Buy
Stericycle risk/reward attractive into Q2 results, says Jefferies
Jefferies analyst Sean Dodge views the risk/reward for shares of Stericycle as attractive into the company's Q2 results. The analyst believes an in-line quarter will take the stock higher. He has a Buy rating on the name with a $140 price target.
07/29/16
IMPC
07/29/16
DOWNGRADE
IMPC
Underperform
Stericycle downgraded to Underperform from In-Line at Imperial Capital
Imperial Capital analyst Scott Levine downgraded Stericycle to Underperform and lowered his price target for the shares to $93.50 from $100. The analyst wants to see a reacceleration in earnings growth and improvement in its visibility before getting more positive.
07/29/16
WLSD
07/29/16
DOWNGRADE
WLSD
Hold
Stericycle downgraded to Hold from Gradually Accumulate at Wellington Shields
05/16/16
STFL
05/16/16
NO CHANGE
STFL
Takeover of Stericycle could be 'compelling' for Waste Management, says Stifel
Stifel believes that an acquisition of Stericycle (SRCL) could be "compelling" for Waste Management (WM) if the deal could be done at 10.6 times. The firm notes that Stericycle's sales are growing at a "mid to upper digit" rate, versus 2%-3% growth at Waste Management. The firm keeps a Buy rating on Waste Management and a Hold rating on Stericycle.
WYNN Wynn Resorts
$104.66

2.42 (2.37%)

07/29/16
NOMU
07/29/16
DOWNGRADE
Target $83
NOMU
Reduce
Wynn Resorts downgraded to Reduce on Beijing table cap at Nomura
s previously reported, Nomura downgraded Wynn Resorts to Reduce from Neutral and raised its price target to $83 from $78. Analyst Harry Curtis said the soft Q2 results are the least of the company's worries. Wynn commented that it would only have a 100 table games in place for the Wynnn Palace on opening. Curtis said the allocation is a clear message from Beijing that it is serious about table cap enforcement and the 150 table reduction versus his forecast reduces earnings by $85M in 2017.
07/29/16
07/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GrubHub (GRUB) downgraded to Neutral from Buy at BofA/Merrill, to Neutral from Buy at Monness Crespi, and to Hold from Buy at Maxim. 2. Ford (F) downgraded to Neutral from Buy at Goldman with analyst Patrick Archambault saying share outperformance over the next 6-12 months will be difficult following the carmaker's weaker than expected second quarter results and profit warning for 2016. 3. Starz (STRZA) downgraded to Hold from Buy at Pivotal Research with analyst Jeffrey Wlodarczak saying the Starz/Lionsgate (LGF) pro-forma entity is fairly valued. 4. Western Digital (WDC) downgraded to Hold from Buy at Cross Research with the firm saying the company is either unwilling or unable to provide a reasonable level of precision to the newly combined businesses with SanDisk and the higher than expected cost structure, combined with compensation increases will be a drag. 5. Wynn Resorts (WYNN) downgraded to Reduce from Neutral at Nomura and to Underperform from Outperform at CLSA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/29/16
LYON
07/29/16
DOWNGRADE
LYON
Underperform
Wynn Resorts downgraded to Underperform from Outperform at CLSA
07/29/16
LYON
07/29/16
DOWNGRADE
LYON
Underperform
CLSA cuts Wynn Resorts to Underperform, says cannibalization risk underestimated
As previously reported, CLSA analyst Jon Oh downgraded Wynn Resorts to Underperform from Outperform. Along with its Q2 call, the company revealed that it expects to receive only 100 new tables for the Wynn Palace opening and expects to move a greater-than-expected 250 tables from Wynn Macau to Wynn Palace. While Oh does not think Wynn Palace's economics change in this scenario, he remains concerned that the market is underestimating the risk of self-cannibalization and a slower Macau EBITDA uplift. Oh keeps a $97 price target on the stock but believes the risk/reward ratio has become unfavorable following the stock's year-to-date rally of over 50%.

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BNC Bancorp

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Facebook

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Great Southern Bancorp

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Viacom

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FOX

21st Century Fox

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21st Century Fox

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Lionsgate

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Sony

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Tesla

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Foxconn considers $7B U.S. facility with Apple, Nikkei says »

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Sempra Energy

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Qualcomm

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