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LPLA

LPL Financial

$33.01

2.12 (6.86%)

07:11
10/12/16
10/12
07:11
10/12/16
07:11

Wells doesn't see many 'obvious buyers' of LPL Financial

Wells Fargo analyst Christopher Harris found the Reuters article saying LPL Financial (LPLA) hired Goldman Sachs (GS) to explore strategic alternatives as a surprise. Recent actions by the company, including a levered stock buyback in December, would seem to suggest a focus on remaining independent, Harris tells investors in a research note. The analyst doesn't see "too many obvious" buyers of the company and thinks investors should not chase the stock on the Reuters story. A private equity transaction would be complicated by the fact that LPL is already fairly levered, the analyst contends. He keeps a Market Perform rating on the shares. JPMorgan this morning downgraded LPL to Neutral.

  • 02

    Nov

LPLA LPL Financial
$33.01

2.12 (6.86%)

04/05/16
04/05/16
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. Bruker (BRKR) downgraded to Underperform and Market Perform at BofA/Merrill and Leerink, respectively. Leerink analyst Dan Leonard cited the recent rally in the shares and his belief that margin expansion in 2017 and beyond could be more challenging than implied in the current stock price. BofA/Merrill cited valuation and lack of upside to FY!6 organic revenue growth targets. 2. Capital One (COF) downgraded to Underperform at Oppenheimer by analyst Ben Chittenden, who said the company's borrower base is facing headwinds. He notes that 25% of Capital One's loan book is made up of exposure to consumers with FICO scores under 660, energy, or taxi cab medallion companies. 3. Hormel Foods (HRL) downgraded to Underweight at BB&T due to the company's growth to slow in Q4 before dropping off significantly in 2017. BB&T predicts that Hormel's premium multiple will contract if its growth does slow, and it predicts that the stock will deliver a negative return. 4. LPL Financial (LPLA) downgraded to Sell at Goldman by analyst Conor Fitzgerald, who cited relative valuation, slower revenue growth, lack of buyback capacity, and execution risk on the Department of Labor's fiduciary rule. 5. People's United (PBCT) downgraded to Underweight at Morgan Stanley citing valuation, below peer profitability, and weaker loan and earnings growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/22/16
FBCO
08/22/16
DOWNGRADE
Target $28
FBCO
Neutral
LPL Financial downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Christian Bolu downgraded LPL Financial to Neutral citing more balanced risk/reward and maintained its $28 price target
09/26/16
MSCO
09/26/16
INITIATION
Target $27
MSCO
Underweight
LPL Financial initiated with an Underweight at Morgan Stanley
Morgan Stanley analyst Michael Cyprys initiated LPL Financial with an Underweight and a $27 price target. The analyst expects LPL to be pressured by the DOL Fiduciary Rule which could accelerate the shift towards lower cost asset fee-based products and away from transaction based economics.
10/12/16
JPMS
10/12/16
DOWNGRADE
Target $31
JPMS
Neutral
LPL Financial downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Kenneth Worthington downgraded LPL Financial to Neutral saying the share rally on takeover speculation provides an opportunity to exit the name. LPL has the potential to be an attractive buyout target, but any deal would come with "significant 'baggage,'" Worthington tells investors in a research note. The legal liability could be material in front of the implementation of new Department of Labor rules, the analyst contends. Worthington raised his price target for LPL shares to $31 from $30.

TODAY'S FREE FLY STORIES

AZN

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STAY

Extended Stay America

$17.45

0.26 (1.51%)

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Extended Stay lifts FY17 revenue view to $1.29B-$1.31B from $1.28B-$1.305B 

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NTDOY

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NOK

Nokia

$5.37

-0.06 (-1.11%)

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NTDOY

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-0.6 (-1.90%)

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EQGP

EQT GP

$26.75

-0.39 (-1.44%)

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POL

PolyOne

$37.39

-0.02 (-0.05%)

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STAY

Extended Stay America

$17.45

0.26 (1.51%)

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FCAU

Fiat Chrysler

$11.65

1.11 (10.53%)

, GOOG

Alphabet

$871.73

-0.57 (-0.07%)

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Periodicals
Fiat Chrysler seeks more self-driving supplier partners, Reuters reports »

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$11.65

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GOOG

Alphabet

$871.73

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GOOGL

Alphabet Class A

$889.14

0.3 (0.03%)

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NTDOY

Nintendo

$31.05

-0.6 (-1.90%)

06:51
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Earnings
Nintendo reports FY16 profit per share Y853.87 vs. Y137.4 last year »

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Front-month WTI crude prices are down 1% »

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EXAS

Exact Sciences

$23.80

-1.09 (-4.38%)

06:50
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Technical Analysis
Exact Sciences hits new 52-week high after results »

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BWA

BorgWarner

$41.06

0.22 (0.54%)

06:49
04/27/17
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Earnings
BorgWarner now sees FY17 EPS $3.50-$3.60, consensus $3.41 »

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  • 27

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SDPI

Superior Drilling

$0.79

-0.0099 (-1.24%)

06:49
04/27/17
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Earnings
Breaking Earnings news story on Superior Drilling »

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DOW

Dow Chemical

$64.33

-0.48 (-0.74%)

06:48
04/27/17
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Hot Stocks
Breaking Hot Stocks news story on Dow Chemical »

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DOW

Dow Chemical

$64.33

-0.48 (-0.74%)

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BWA

BorgWarner

$41.06

0.22 (0.54%)

06:47
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Earnings
BorgWarner sees Q2 EPS 87c-91c, consensus 87c »

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RHHBY

Roche

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-0.207 (-0.64%)

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RHHBY

Roche

$32.20

-0.207 (-0.64%)

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Earnings
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BWA

BorgWarner

$41.06

0.22 (0.54%)

06:46
04/27/17
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Earnings
BorgWarner reports Q1 EPS 89c, consensus 84c »

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XRF

China Rapid Finance

06:45
04/27/17
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Syndicate
China Rapid Finance 10M share IPO price range lowered to $6.00-$7.00 »

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  • 27

    Apr

DOW

Dow Chemical

$64.33

-0.48 (-0.74%)

06:45
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Earnings
Dow Chemical reports Q1 operating EPS $1.04, consensus 98c »

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HP

Helmerich & Payne

$65.21

-0.18 (-0.28%)

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Earnings
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  • 27

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RHHBY

Roche

$32.20

-0.207 (-0.64%)

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Hot Stocks
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BSX

Boston Scientific

$25.97

0.23 (0.89%)

06:44
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Earnings
Boston Scientific baks FY17 adj. EPS view of $1.22-$1.26, consensus $1.25 »

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