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CBS

CBS

$56.13

1.2 (2.18%)

, P

Pandora

$14.86

0.7 (4.94%)

10:26
10/04/16
10/04
10:26
10/04/16
10:26

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CBS (CBS) upgraded to Buy from Sell at UBS with analyst Doug Mitchelson saying he sees any deal with Viacom (VIA) as priced into CBS shares already. He also has increased confidence in consensus estimates for CBS and sees further upside if the national TV ad market and CBS' ratings remain strong. 2. Pandora (P) upgraded to Conviction Buy from Buy at Goldman with analyst Heath Terry saying he sees significant upside to out-year estimates from premium radio and on-demand subscriptions. He expects competition to ease as new entrants slow and existing providers focus on profitability and limit "free" models. 3. Las Vegas Sands (LVS) upgraded to Buy from Neutral at BofA/Merrill with analyst Shaun Kelley saying shares remain fairly under-owned and thinks estimate revisions will move higher due to market momentum, better ROI for Parisian, Cotai infrastructure additions, and optionality from Japan and real estate. 4. KBR (KBR) upgraded to Buy from Hold at Deutsche Bank with analyst Chad Dillard saying yesterday's 10% post-guidance cut selloff is overdone and backward-looking. 5. West Marine (WMAR) upgraded to Buy from Neutral at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

CBS

CBS

$56.13

1.2 (2.18%)

P

Pandora

$14.86

0.7 (4.94%)

KBR

KBR

$14.43

0.8 (5.87%)

WMAR

West Marine

$8.15

-0.12 (-1.45%)

CBS CBS
$56.13

1.2 (2.18%)

10/04/16
UBSW
10/04/16
UPGRADE
UBSW
Buy
CBS upgraded to Buy from Sell at UBS
09/22/16
09/22/16
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. CBS (CBS) downgraded to Market Perform from Outperform at Telsey Advisory with analyst Tom Eagan saying that CBS will probably merge with Viacom (VIA, VIAB). 2. Jabil Circuit (JBL) downgraded to Hold from Buy at Needham with analyst Sean Hannan saying that 2017 will unlikely be a "robust year." 3. Pearson (PSO) downgraded to Neutral from Outperform at Exane BNP Paribas. 4. Syntel (SYNT) downgraded to Market Perform from Outperform at Barrington with analyst Vincent Colicchio saying he's "increasingly concerned that the challenging environment will continue to negatively impact the company's business." 5. FMC Technologies (FTI) downgraded to Neutral from Accumulate at Seaport Global wit analyst Mark Brown saying upstream customers have "little appetite" for deepwater development spending. 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
TLSY
09/22/16
DOWNGRADE
TLSY
Market Perform
CBS downgraded on likely Viacom merger at Telsey Advisory
As noted earlier, Telsey downgraded CBS (CBS) to Market Perform from Outperform. Analyst Tom Eagan says that CBS will probably merge with Viacom (VIA, VIAB). The analyst believes that it will take "years" for Viacom to be turned around, and he says that Viacom's fiscal 2017 EBITDA will come in 18% below its fiscal 2015 level. The analyst expects the company's credit rating to be downgraded by S&P. CBS target to $57 from $67.
10/04/16
UBSW
10/04/16
UPGRADE
Target $66
UBSW
Buy
CBS upgraded to Buy at UBS
As reported previously, UBS analyst Doug Mitchelson upgraded CBS (CBS) to Buy from Sell. The analyst sees any deal with Viacom (VIA) as priced into CBS shares already. He also has increased confidence in consensus estimates for CBS and sees further upside if the national TV ad market and CBS' ratings remain strong. Mitchelson raised his price target to $66 from $52 on CBS shares.
P Pandora
$14.86

0.7 (4.94%)

09/14/16
PACS
09/14/16
NO CHANGE
PACS
Pandora deal negative, says Pacific Crest
Pacific Crest analyst Andy Hargreaves says that Pandora's deals with music labels create a business model that "is fraught with a lack of limited control of content costs and a lack of incremental leverage on operating expenses." The analyst says that the agreement "cedes control of (Pandora's) content costs to the major labels," significantly reducing his confidence in the company's profitability going forward. He keeps an Underweight rating on the stock.
09/14/16
RHCO
09/14/16
NO CHANGE
RHCO
Pandora improved monetization could offset higher royalties, says SunTrust
After Pandora announced direct deals with most of the major music labels, SunTrust analyst Robert Peck says that the deals will enable the company "to launch new interactive services and enhance existing products." He thinks that improved monetization as a result of more expensive ads could enable it to offset "potential cost increases" stemming from higher royalties. He keeps an $18 price target and Buy rating on the shares.
09/14/16
ADAM
09/14/16
NO CHANGE
Target $18
ADAM
Buy
Pandora price target raised to $18 from $14 at Canaccord
Canaccord analyst Michael Graham raised his price target on Pandora to $18 from $14 citing its long anticipated direct sound recording licensing deals with Universal Music Group, Sony Music, and over 40 independent labels. The analyst said management is hopeful of also signing Warner Music Group, providing the company with catalogs to launch an on-demand service by year-end. Graham reiterated his Buy rating on Pandora shares.
10/04/16
GSCO
10/04/16
UPGRADE
Target $19
GSCO
Conviction Buy
Pandora upgraded to Conviction Buy from Buy at Goldman
Goldman analyst Heath Terry added Pandora to the Conviction Buy List and raised his price target to $19 from $17. Terry sees sees significant upside to out-year estimates from premium radio and on-demand subscriptions. He expects competition to ease as new entrants slow and existing providers focus on profitability and limit "free" models.
KBR KBR
$14.43

0.8 (5.87%)

06/29/16
KEYB
06/29/16
NO CHANGE
KEYB
KBR weakness significantly overdone, says KeyBanc
KeyBanc believes that KBR could benefit from Brexit as the U.k. may look to increase security spending in the wake of its departure from the EU, according to the firm. The firm thinks that investors are undervaluing the company's Magnolia LNG project. It keeps a $24 price target and Overweight rating on the shares.
06/28/16
MKMP
06/28/16
INITIATION
MKMP
Neutral
KBR initiated with a Neutral at MKM Partners
09/27/16
DBAB
09/27/16
NO CHANGE
Target $14
DBAB
Hold
Deutsche sees 'realistic path' to KBR becoming $20-$25 stock
Deutsche Bank analyst Chad Dillard says he sees a "realistic path" towards KBR becoming a $20-$25 stock as the market beings to appreciate the company's transformation to a government/technical services company. The analyst, however, keeps a Hold rating on KBR with a $14 price target. The engineering and construction company closed yesterday up 10c to $14.50. Consensus estimates for 2017-2018 are too high and a reset in expectations could cause near-term price volatility, Dillard tells investors in a research note. He is "warming" to KBR's transformation but expects a more attractive entry point "down the road."
10/04/16
DBAB
10/04/16
UPGRADE
Target $16
DBAB
Buy
KBR upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Chad Dillard upgraded KBR to Buy saying yesterday's 10% post-guidance cut selloff is overdone and backward-looking. The market is under-appreciating the company's transformation to a lower-risk government/technical services firm, Dillard tells investors in a research note. He upped his price target for KBR shares to $16 from $14.
WMAR West Marine
$8.15

-0.12 (-1.45%)

06/21/16
RILY
06/21/16
DOWNGRADE
Target $10
RILY
Neutral
West Marine downgraded to Neutral from Buy at B. Riley
B. Riley analyst Jimmy Baker downgraded West Marine to Neutral saying he sees risk to the company's guidance after channel checks indicated soft East Coast usage trends. The analyst lowered his price target for the shares to $10 from $12.
10/04/16
RILY
10/04/16
UPGRADE
Target $10
RILY
Buy
West Marine upgraded to Buy from Neutral at B. Riley
B. Riley analyst Jimmy Baker upgraded West Marine to Buy and keeps a $10 price target for the shares.
09/08/16
SIDC
09/08/16
DOWNGRADE
SIDC
Neutral
West Marine downgraded to Neutral from Buy at Sidoti

TODAY'S FREE FLY STORIES

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WAT

Waters

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CR

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BCO

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XOM

Exxon Mobil

$81.08

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TXMD

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MYL

Mylan

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MCD

McDonald's

$128.65

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HSY

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SSNLF

Samsung

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SSNLF

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MRK

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EFX

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TGT

Target

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Huron

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ERIC

Ericsson

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QCOM

Qualcomm

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