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WFC

Wells Fargo

$43.83

-0.45 (-1.02%)

07:02
10/04/16
10/04
07:02
10/04/16
07:02

Wells Fargo downgraded to Underperform from Market Perform at Raymond James

Raymond James analyst David Long downgraded Wells Fargo to Underperform and reduced estimate saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook.

  • 23

    Oct

WFC Wells Fargo
$43.83

-0.45 (-1.02%)

09/21/16
JPMS
09/21/16
DOWNGRADE
Target $48
JPMS
Neutral
Wells Fargo downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Vivek Juneja downgraded Wells Fargo to Neutral saying the "tough" Senate hearings and "mounting public scrutiny" will likely result in additional investigations that could pressure expenses. There is "significant uncertainty about how much some issues will cost and how long they will take," Juneja tells investors in a research note. He believes Wells will need to spend a lot more on litigation and that its revenues "will likely face some slowdown in growth." Juneja cut his price target for the shares to $48 from $53.50. Wells Fargo closed yesterday up 55c to $46.56.
09/21/16
09/21/16
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. Wells Fargo (WFC) downgraded to Neutral from Overweight at JPMorgan with analyst Vivek Juneja saying the "tough" Senate hearings and "mounting public scrutiny" will likely result in additional investigations that could pressure expenses. 2. Skechers (SKX) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Jay Sole saying he believes consumers shift towards pure fashion styles and away from athletic footwear is causing Skechers to adjust assortment, resulting in slower sales growth. 3. American Airlines (AAL) downgraded to Market Perform from Outperform at Raymond James analyst Savanthi Syth citing relative valuation and lowered estimates to reflect the new mechanics contract. 4. Boston Beer (SAM) downgraded to Underperform from Market Perform at Cowen with analyst Vivien Azer citing its string of disappointing monthly Nielsen data and structural headwinds to the company's core assets, which present meaningful earnings risk. 5. Children's Place (PLCE) downgraded to Neutral from Overweight at Piper Jaffray with analyst Stephanie Wissink saying the firm's recent survey of moms pointed to a "step down" in mindshare. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/22/16
DBAB
09/22/16
NO CHANGE
Target $50
DBAB
Buy
Wells Fargo price target lowered to $50 from $59 at Deutsche Bank
Deutsche Bank analyst Matt O'Connor lowered his price target for Wells Fargo to $50 saying it's "tough to argue for much upside in the near term." The analyst, however, believes that over the next year, Wells Fargo's issues should subside and its "attractive valuation should be more relevant." After laying out the bull and bear thesis on the shares, O'Connor sees 5%-12% relative upside in the name. He keeps a Buy rating on Wells Fargo.
09/28/16
DBAB
09/28/16
UPGRADE
Target $11.5
DBAB
Buy
Huntington Bancshares upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Matt O'Connor upgraded Huntington Bancshares to Buy saying the 15% pullback in the shares since the FirstMerit (FMER) deal was announced is overdone. The analyst views industry-wide concerns surrounding consumer indirect auto lending as overblown and he raised his price target for Huntington shares to $11.50 from $10.50. Going into the Q3 results for U.S. banks, O'Connor likes JPMorgan (JPM) and Wells Fargo (WFC) and is cautious on Fifth Third (FITB).

TODAY'S FREE FLY STORIES

DDAIF

Daimler AG

$72.82

-0.09 (-0.12%)

, PCAR

Paccar

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CNH Industrial

$11.34

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NAV

Navistar

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CMI

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$159.00

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SBUX

Starbucks

$59.51

-0.45 (-0.75%)

09:50
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MITL

Mitel

$7.32

0.08 (1.11%)

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WHR

Whirlpool

$192.96

-2.2 (-1.13%)

09:48
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SFM

Sprouts Farmers Market

$21.55

0.17 (0.80%)

09:47
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09:45
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New Home Sales to be reported at 10:00 »

May New Home Sales will…

GPMT

Granite Point Mortgage

09:44
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Syndicate
Breaking Syndicate news story on Granite Point Mortgage »

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  • 23

    Jun

GPMT

Granite Point Mortgage

09:43
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Syndicate
Breaking Syndicate news story on Granite Point Mortgage »

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  • 23

    Jun

MDSO

Medidata

$80.25

4.25 (5.59%)

09:42
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06/23
09:42
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Conference/Events
Medidata management to meet with Piper Jaffray »

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  • 27

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LPI

Laredo Petroleum

09:41
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Conference/Events
Laredo Petroleum management to meet with Piper Jaffray »

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  • 27

    Jun

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    Jun

IFF

International Flavors

09:41
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International Flavors to settle trade secret lawsuit with ZoomEssence for $56M »

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GPMT

Granite Point Mortgage

09:40
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Syndicate
Granite Point Mortgage indicated to open at $18-$19, IPO priced at $19.50 »

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  • 23

    Jun

LGF.A

Lionsgate

09:40
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Conference/Events
Lionsgate management to meet with B. Riley »

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  • 27

    Jun

NGD

New Gold

, GILD

Gilead

$70.48

2.98 (4.41%)

09:40
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06/23
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Options
Unusually active option classes on open June 23rd »

Unusual total active…

NGD

New Gold

GILD

Gilead

$70.48

2.98 (4.41%)

ORCL

Oracle

VRX

Valeant

AMD

AMD

$14.38

0.4 (2.86%)

DIS

Disney

SLV

iShares Silver Trust

CAT

Caterpillar

COST

Costco

$159.79

-3.36 (-2.06%)

TWTR

Twitter

03/08/13
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  • 28

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STML

Stemline

$8.50

0.15 (1.80%)

09:39
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Stemline presents updated stage 1 and 2 data from SL-401 trial »

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  • 23

    Jun

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LGF

Use LGF.A, LGF.B

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Use LGF.A, LGF.B management to meet with B. Riley »

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  • 27

    Jun

INN

Summit Hotel Properties

09:38
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Summit Hotel Properties management to meet with Canaccord »

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  • 27

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IMGN

ImmunoGen

$5.82

-0.2 (-3.32%)

09:38
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  • 27

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REGN

Regeneron

$526.53

4.51 (0.86%)

09:36
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ETSY

Etsy

$14.68

0.48 (3.38%)

09:36
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Several private equity firms have reached out to Etsy, Dealreporter says »

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CAT

Caterpillar

09:36
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Technical Analysis
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HQY

HealthEquity

$51.05

-0.39 (-0.76%)

09:36
06/23/17
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Conference/Events
HealthEquity management to meet with Barrington »

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  • 27

    Jun

APLP

Archrock Partners LP

$13.66

0.61 (4.67%)

09:35
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Downgrade
Archrock Partners LP rating change  »

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09:35
06/23/17
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General news
U.S. new home sales preview: »

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