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TSN

Tyson Foods

$69.03

-5.35 (-7.19%)

, SEDG

SolarEdge

$17.22

0.04 (0.23%)

10:25
10/07/16
10/07
10:25
10/07/16
10:25

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tyson Foods (TSN) downgraded to Sell from Hold at Pivotal Research with analyst Timothy Ramey citing the broiler price-fixing alleged in the class action complaint filed on September 2. 2. SolarEdge (SEDG) was downgraded to Sell from Neutral at Goldman while the firm also downgraded First Solar (FSLR) to Neutral from Buy. 3. CIT Group (CIT) downgraded to Hold from Buy at Stifel with analyst Christopher Brendler saying investors should sell into the rally that will result from the "impressive" price that the company received for its aircraft business and the approval of its capital plan by the Fed. 4. Fifth Third (FITB) downgraded to Hold from Buy at Jefferies with analyst Ken Usdin saying the shares are reasonably valued following the recent rally. 5. Blackhawk (HAWK) downgraded to Neutral from Buy at BofA/Merrill with analyst David Chu saying the firm's channel checks indicate that conversions to EMV, the new standard for chip-based debit/credit card transactions, are taking longer than expected, which he believes could impact Blackhawk's 2016 guidance and expectations for 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TSN

Tyson Foods

$69.03

-5.35 (-7.19%)

SEDG

SolarEdge

$17.22

0.04 (0.23%)

FSLR

First Solar

$39.75

0.01 (0.03%)

CIT

CIT Group

$37.39

0.99 (2.72%)

FITB

Fifth Third

HAWK

Blackhawk

$31.15

0.75 (2.47%)

  • 12

    Oct

  • 20

    Oct

  • 23

    Oct

TSN Tyson Foods
$69.03

-5.35 (-7.19%)

10/07/16
PIVT
10/07/16
DOWNGRADE
PIVT
Sell
Tyson Foods downgraded to Sell from Hold at Pivotal Research
Pivotal analyst Timothy Ramey downgraded Tyson Foods to Sell and slashed his price target to $40 from $100 due to the broiler price-fixing alleged in the class action complaint filed on September 2. Ramey said the complain alleges supply collusion occurred through nonpublic data exchange; detailed industry reports compiled on a daily or weekly basis by Agri Stats. Supposedly, the data has telling clues as to the identity of the other industry participants, making it is easy for the industry to collude on production cuts since they provide non-public information to Agri Stats on future production intentions. The analyst wondered why margins improved dramatically over the past seven years in a historically undisciplined industry. Ramey believes the class-action suit has merit and will lead to intense scrutiny of the broiler industry and questions the sustainability of chicken margins. He expects Tyson shares will be pressured until this complex issue is resolved and damages could be very substantial.
06/07/16
JEFF
06/07/16
NO CHANGE
Target $70
JEFF
Buy
Jefferies recommends Tyson Foods following recent selloff
Jefferies analyst Akshay Jagdale attributes the recent selloff in protein stocks to the recent rally in grain prices and decline in pork margins. The analyst recommends buying shares of Tyson Foods (TSN) but continues to see "significant further potential downside" in Sanderson Farms (SAFM). Jagdale lowered his price target for Tyson to $70 and keeps a Buy rating on the name. He keeps a Hold rating on Hormel Foods (HRL) with a reduced price target of $34 and Underperform rating on Sanderson with a price target of $60.
07/26/16
CLVD
07/26/16
NO CHANGE
CLVD
Buy
Tyson Foods estimates raised further above consensus at Cleveland Research
Cleveland Research analyst Mike Piken raised Tyson Foods' FY16 and FY17 estimates further above consensus on improved chicken and beef outlook. The analyst is modeling Q3 earnings of $1.11, versus consensus of $1.05, driven by expectations for stronger beef EBIT margins, raised Q4 to $1.08, versus consensus of $1.06, to reflect a strong start for Pork, revised FY16 to $4.40, above consensus of $4.33, and FY17 to $4.79, versus consensus of $4.60. Piken rates Tyson a Buy.
09/19/16
SPHN
09/19/16
NO CHANGE
Target $85
SPHN
Overweight
Stephens makes Tyson Foods new Best Idea in Food and Agribusiness
Stephens analyst Farha Aslam is making Tyson Foods her firm's new Best Idea in Food and Agribusiness as she believes the company is well positioned for long-term growth. Consumers' growing interest in protein rich foods is creating opportunities to innovate new products, create brands in previously commodity categories, and improve margins, she added. Aslam reiterates an Overweight rating and $85 price target on the shares.
SEDG SolarEdge
$17.22

0.04 (0.23%)

10/06/16
GSCO
10/06/16
DOWNGRADE
GSCO
Sell
SolarEdge downgraded to Sell from Neutral at Goldman
10/06/16
GSCO
10/06/16
DOWNGRADE
GSCO
Sell
SolarEdge downgraded to Sell from Neutral at Goldman
Goldman analyst Brian Lee downgraded SolarEdge to Sell from Neutral and lowered his price target to $13 from $19, with Lee saying he believes there will be increased challenges to SolarEdge's growth due to "a reversal in market share gains and intensifying pricing pressure."
09/08/16
09/08/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Underperform, $160 target at Cowen with analyst Jeffrey Osborne saying the company is well positioned for the long term but has a "material amount of execution risk" over the next 12 to 18 months. 2. AutoNation (AN) initiated with a Buy at CL King. 3. Wingstop (WING) initiated with an Overweight at KeyBanc. 4. Vivint Solar (VSLR), Sunrun (RUN), and SolarEdge (SEDG) initiated with an Outperform at JMP Securities with the firm initiated First Solar (FSLR) and SunPower (SPWR) with an Underperform. The firm also initiated Canadian Solar (CSIQ) with a Market Perform. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/16
ADAM
09/23/16
INITIATION
Target $27
ADAM
Buy
SolarEdge coverage assumed with a Buy at Canaccord
Target $27.
FSLR First Solar
$39.75

0.01 (0.03%)

10/06/16
GSCO
10/06/16
DOWNGRADE
GSCO
Neutral
First Solar downgraded to Neutral from Buy at Goldman
Goldman analyst Brian Lee downgraded First Solar to Neutral from Buy with a price target of $42, saying 2017 system bookings "appear unlikely to materialize" this late in the second half of 2016.
10/06/16
GSCO
10/06/16
DOWNGRADE
GSCO
Neutral
First Solar downgraded to Neutral from Buy at Goldman
09/30/16
09/30/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Amazon.com (AMZN) initiated with a Buy at Guggenheim. 2. Wal-Mart (WMT) initiated with an Overweight at KeyBanc and a Buy at Guggenheim. 3. Harley-Davidson (HOG) initiated with a Hold at Jefferies. 4. Coach (COH) was initiated with a Buy at Guggenheim while the firm initiated Michael Kors (KORS) with a Neutral. 5. First Solar (FSLR) initiated with a Buy at Williams Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/16
WILL
09/30/16
INITIATION
Target $50
WILL
Buy
First Solar initiated with a Buy at Williams Capital
Williams Capital analyst Cynthia Motz initiated First Solar with a Buy and a $50 price target.
CIT CIT Group
$37.39

0.99 (2.72%)

10/07/16
STFL
10/07/16
DOWNGRADE
STFL
Hold
CIT Group downgraded to Hold from Buy at Stifel
04/29/16
BOFA
04/29/16
DOWNGRADE
BOFA
Underperform
CIT Group downgraded to Underperform from Buy at BofA/Merrill
04/29/16
BOFA
04/29/16
DOWNGRADE
BOFA
Follow-up: CIT Group downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded CIT Group to Underperform from Buy. The firm's analyst said the restructuring to a complex franchise from a simplified bank may be extended until 2018 or longer, due to additional restructuring, a revised strategy, and a management overhaul. BofA/Merrill sees limited earnings visibility and believes sentiment will remain poor until the commercial air exit is complete and execution on the strategic plan shows progress.
10/07/16
STFL
10/07/16
DOWNGRADE
STFL
Hold
CIT Group downgraded at Stifel
As noted earlier, Stifel downgraded CIT to Hold from Buy. Analyst Christopher Brendler says that investors should sell into the rally that will result from the "impressive" price that the company received for its aircraft business and the approval of its capital plan by the Fed. The analyst says he is "skeptical" about the company's remaining business, while the company's planned share buyback will take time to materialize. Target to $41 from $40.
FITB Fifth Third

10/06/16
WEDB
10/06/16
INITIATION
WEDB
Neutral
Fifth Third initiated with a Neutral at Wedbush
Wedbush analyst Peter Winter initiated Fifth Third with a Neutral rating.
10/06/16
WEDB
10/06/16
INITIATION
Target $22
WEDB
Neutral
Fifth Third initiated with a Neutral at Wedbush
Wedbush analyst Peter Winter initiated Fifth Third with a Neutral and a $22 price target.
10/07/16
JEFF
10/07/16
DOWNGRADE
Target $22
JEFF
Hold
Fifth Third downgraded to Hold from Buy at Jefferies
Jefferies analyst Ken Usdin downgraded Fifth Third Bancorp to Hold saying the shares are reasonably valued following the recent rally. The analyst raised his price target for the stock to $22 from $19.50.
10/05/16
10/05/16
DOWNGRADE

Equal Weight
Fifth Third downgraded to Equal Weight at Stephens
As previously reported, Stephens analyst Terry McEvoy downgraded Fifth Third (FITB) to Equal Weight from Overweight on valuation. The analyst now sees the underlying value and capital flexibility from the company's investment in Vantiv (VNTV) as being largely reflected in the stock's valuation and have more comfort in future expense trends. Given the outperformance at Fifth Third, McEvoy believes investors should take profits and move into KeyCorp (KEY).
HAWK Blackhawk
$31.15

0.75 (2.47%)

09/21/16
09/21/16
UPGRADE

Outperform
Blackhawk upgraded to Outperform on valuation at CLSA
As previously reported, CLSA upgraded Blackhawk to Outperform from Market Perform and raised its price target to $36 from $34. Analyst Tom McCrohan said the recent pullback in shares provides a buying opportunity and said his overall thesis of operating leverage, EMV and earnings quality remains unchanged.
09/21/16
LYON
09/21/16
UPGRADE
LYON
Outperform
Blackhawk upgraded to Outperform from Underperform at CLSA
07/22/16
BOFA
07/22/16
UPGRADE
Target $41
BOFA
Buy
Blackhawk upgraded to Buy from Neutral at BofA/Merrill
Price target $41.
10/07/16
BOFA
10/07/16
DOWNGRADE
Target $34
BOFA
Neutral
Blackhawk downgraded to Neutral from Buy at BofA/Merrill
BofA Merrill Lynch analyst David Chu downgraded Blackhawk to Neutral from Buy, stating that the firm's channel checks indicate that conversions to EMV, the new standard for chip-based debit/credit card transactions, are taking longer than expected, which he believes could impact Blackhawk's 2016 guidance and expectations for 2017. Chu cut his price target on Blackhawk shares to $34 from $41.

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Tesla

$314.07

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WBA

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ANY

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MRUS

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