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WFM

Whole Foods

$29.33

1.37 (4.90%)

, KR

Kroger

$29.25

-0.12 (-0.41%)

09:53
10/07/16
10/07
09:53
10/07/16
09:53

Whole Foods FY17 earnings risk not fully appreciated, says Pivotal Research

Pivotal Research said recent chatter involving Kroger (KR) and Whole Foods (WFM) follows a steady stream of bogus takeover rumors that seem to surface with little or no reasonable basis. The firm's analyst said this appears to be another head fake that distracts from core challenges facing Whole Foods ahead of 4Q16 results in early November and potential disappointing FY17 guidance. Pivotal said although Whole Foods multiple is not demanding, the extent of a FY17 earnings risk is not fully appreciated by the Street.

WFM

Whole Foods

$29.33

1.37 (4.90%)

KR

Kroger

$29.25

-0.12 (-0.41%)

WFM Whole Foods
$29.33

1.37 (4.90%)

07/26/16
07/26/16
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. Disney (DIS) and Time Warner (TWX) downgraded to Market Perform from Outperform at FBR Capital with analyst Barton Crocket saying Disney's stock "will struggle to deliver much upside" from current levels. The analyst lowered his price target for the shares to $108 from $111. The analyst downgraded Time Warner citing valuation. 2. Chipotle (CMG) downgraded to Sell from Hold at Stifel with analyst Paul Westra citing the firm's belief that the U.S. economy will probably enter a recession within nine months. 3. Whole Foods (WFM) downgraded to Sell from Neutral at Goldman with analyst Stephen Tanal saying Whole Foods is losing share in its core natural and organic business to a variety of competitors that have raised the bar and driven a consistent deceleration in Whole Foods' same-store-sales and its first negative comps in the fourth quarter of 2016 since 2009. 4. BJ's Restaurants (BJRI) downgraded to Sell from Buy at Stifel with analyst Paul Westra citing the firm's belief that the U.S. economy will probably enter a recession within nine months. 5. Yahoo (YHOO) downgraded to Equal Weight from Overweight at Morgan Stanley with analysts led by Brian Nowak saying shares going forward will solely be viewed as a trading vehicle for its 15% Alibaba (BABA) stake with the investment thesis related to shares closing the estimated 39% liquidity discount to fair market value. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/04/16
FBCO
08/04/16
NO CHANGE
Target $40
FBCO
Outperform
Whole Foods added to US Focus List at Credit Suisse
09/23/16
LEHM
09/23/16
INITIATION
Target $30
LEHM
Equal Weight
Whole Foods initiated with an Equal Weight at Barclays
Barclays analyst Karen Short started Whole Foods Market with an Equal Weight rating and $30 price target.
10/07/16
SBSH
10/07/16
NO CHANGE
Target $39
SBSH
Buy
Citi says Whole Foods buyout would be uncharacteristic for Kroger
Citi analyst Alvin Concepcion weighs in on the speculation yesterday that Kroger (KR) could be interested in acquiring Whole Foods (WFM) for $40 per share. There are challenges that reduce the likelihood of a deal, and such a transaction could be uncharacteristic for Kroger, Concepcion tells investors in a research note. For one, the acquisition would be expensive, the analyst contends. And two, Kroger would have to lever up to 3.5 times net debt/EBITDA, he adds. The analyst keeps a Buy rating on Kroger with a $39 price target. Whole Foods yesterday closed up 5% to $29.33 amid the takeout rumor.
KR Kroger
$29.25

-0.12 (-0.41%)

08/29/16
SBSH
08/29/16
NO CHANGE
Target $43
SBSH
Buy
Kroger Q2 sales could miss expectations, says Citi
Citi analyst Alvin Concepcion believes Kroger is likely to meet Q2 earnings expectations but that its sales could fall short of estimates. Kroger is likely to post Q2 ID ex-fuel sales of 1.6%, below the consensus of 2.5%, due to worsening deflation, Concepcion tells investors in a pre-earnings research note. Volume was healthy, but likely not enough to offset the deflationary pressure, the analyst argues. The Q2 earnings release could drive further share weakness, which would present a buying opportunity, Concepcion writes. He lowered his price target for Kroger shares to $43 from $44 and keeps a Buy rating on the name.
09/12/16
WELS
09/12/16
NO CHANGE
WELS
Kroger long-term risk/reward positive, says Wells Fargo
Wells Fargo says that Kroger's revised EPS guidance should ease investors' concerns and limit the decline of the stock. Wells trimmed its valuation range on the stock to $37-$38 from $40-$41 based on the company's comp deceleration and its belief that Kroger may have difficulty generating EBIT growth in 2017. Nonetheless, the firm thinks that the stock's current valuation makes its long-term risk/reward ratio positive. It keeps an Outperform rating on the shares.
09/23/16
LEHM
09/23/16
INITIATION
Target $33
LEHM
Equal Weight
Kroger initiated with an Equal Weight at Barclays
Barclays analyst Karen Short started Kroger with an Equal Weight rating and $33 price target.

TODAY'S FREE FLY STORIES

DB

Deutsche Bank

$19.13

-0.58 (-2.94%)

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AES

AES Corp.

$11.93

0.18 (1.53%)

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LBTYA

Liberty Global

$36.99

0.56 (1.54%)

06:11
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AES

AES Corp.

$11.93

0.18 (1.53%)

06:10
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AES Corp. sees 8%-10% annual growth in EPS, cash flow through 2020 »

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AES

AES Corp.

$11.93

0.18 (1.53%)

06:09
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Earnings
AES Corp. reports Q4 adjusted EPS 35c, consensus 36c »

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SHOO

Steven Madden

$37.15

-0.1 (-0.27%)

06:09
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02/27
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Upgrade
Steven Madden rating change  »

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  • 28

    Feb

SYT

Syngenta

$85.27

0.3 (0.35%)

06:09
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02/27
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Periodicals
ChemChina's Syngenta bid seen receiving conditional EU approval, Reuters says »

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BCRX

BioCryst

$5.49

-0.11 (-1.96%)

06:08
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  • 27

    Feb

JCP

J.C. Penney

$6.46

-0.4 (-5.83%)

06:08
02/27/17
02/27
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06:08
Downgrade
J.C. Penney rating change  »

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Hot Stocks
Buffett says market 'not in bubble territory' or 'anything of the sort' »

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WMT

Wal-Mart

$72.39

1.08 (1.51%)

, KR

Kroger

$33.29

0.3 (0.91%)

06:06
02/27/17
02/27
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06:06
Periodicals
Wal-Mart launching price-comparison test in U.S., targeting Aldi, Reuters says »

Wal-Mart (WMT) is…

WMT

Wal-Mart

$72.39

1.08 (1.51%)

KR

Kroger

$33.29

0.3 (0.91%)

PG

Procter & Gamble

$91.05

-0.08 (-0.09%)

UN

Unilever; also tag UL

$46.91

0.33 (0.71%)

UL

Unilever; also tag UN

$47.12

0.22 (0.47%)

CAG

Conagra Brands

$41.16

0.66 (1.63%)

03/08/13
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LJPC

La Jolla

$19.87

1.65 (9.06%)

06:05
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  • 19

    Mar

INVH

Invitation Homes

$21.60

0.02 (0.09%)

06:05
02/27/17
02/27
06:05
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06:05
Initiation
Invitation Homes initiated  »

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PEG

PSEG

$45.61

1.36 (3.07%)

06:04
02/27/17
02/27
06:04
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06:04
Downgrade
PSEG rating change  »

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UCP

UCP, Inc.

$11.35

-0.05 (-0.44%)

06:03
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Hot Stocks
Breaking Hot Stocks news story on UCP, Inc. »

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  • 27

    Feb

LAUR

Laureate Education

$13.24

0.06 (0.46%)

06:03
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02/27
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Initiation
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UCP

UCP, Inc.

$11.35

-0.05 (-0.44%)

06:02
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Earnings
UCP, Inc. reports Q4 EPS 89c with benefits, consensus 18c »

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  • 27

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SNAP

Snap Inc.

06:01
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  • 02

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GRAM

Grana y Montero

$3.32

-1.77 (-34.77%)

06:00
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INVH

Invitation Homes

$21.60

0.02 (0.09%)

05:59
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Initiation
Invitation Homes initiated  »

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AAPL

Apple

$136.66

0.13 (0.10%)

, EBAY

eBay

$34.06

0.46 (1.37%)

05:58
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Periodicals
Tech firms plan to file brief in favor of transgender rights, Axios reports »

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AAPL

Apple

$136.66

0.13 (0.10%)

EBAY

eBay

$34.06

0.46 (1.37%)

IBM

IBM

$181.35

-0.3 (-0.17%)

MSFT

Microsoft

PYPL

PayPal

$43.07

0.54 (1.27%)

CRM

Salesforce

$81.78

-0.29 (-0.35%)

YELP

Yelp

$33.46

-0.01 (-0.03%)

BOX

Box

$17.93

0.41 (2.34%)

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AFL

Aflac

$71.71

-0.01 (-0.01%)

05:57
02/27/17
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FTI

TechnipFMC

$32.30

-0.58 (-1.76%)

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DDS

Dillard's

$57.00

2.32 (4.24%)

, ISIL

Intersil

05:55
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Hot Stocks
Dillard's to replace Intersil in S&P 400 as of 2/28 open »

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DDS

Dillard's

$57.00

2.32 (4.24%)

ISIL

Intersil

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INCY

Incyte

$131.21

9.26 (7.59%)

, SE

Spectra Energy

$40.68

-0.32 (-0.78%)

05:55
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Incyte to replace Spectra Energy in S&P 500 as of 2/28 open »

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INCY

Incyte

$131.21

9.26 (7.59%)

SE

Spectra Energy

$40.68

-0.32 (-0.78%)

ENB

Enbridge

$41.34

-0.37 (-0.89%)

03/08/13
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