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JPM

JPMorgan

$67.52

-0.22 (-0.32%)

, C

Citi

$48.61

0.14 (0.29%)

16:20
10/14/16
10/14
16:20
10/14/16
16:20

On The Fly: Top stock stories for Friday

Stocks opened in positive territory following solid earnings reports from some of the nation's largest banks. The averages tacked on additional gains in the opening hour but began to lose momentum following the disappointing University of Michigan consumer confidence reading. Once a lid was put on the market the indexes began to drift in a narrow range and traded that way into the close. Investors are preparing themselves for the earnings season to begin in earnest next week, when the volume will pick up and several more banks along with a number of the biggest names in tech will be reporting. ECONOMIC NEWS: In the U.S., retail sales rose 0.6% in September, matching the consensus estimate. If autos and gas are removed, the core reading was up 0.3%, also matching expectations. The Producer Prices Index for September rose 0.3%, versus estimates for a 0.2% increase. When food and energy are removed, the core reading was up 0.2%, versus the 0.1% forecast. The preliminary University of Michigan consumer confidence reading for October came in at 87.9, which is a 13-month low and well below the consensus forecast of 92. Business inventories increased 0.2% in August, above the expected 0.1% for the month. In a speech at a conference of policymakers and top academics, Federal Reserve Chair Janet Yellen said the Fed may need to run a "high-pressure" economy in order to reverse damage from the crisis that depressed output and sidelined workers. Baker Hughes reported the U.S. rig count was up 15 rigs from last week to 539. In Asia, China's consumer price index rose 1.9%, while its producer price index increased 0.1% in September. COMPANY NEWS: Three major U.S. banks reported quarterly results this morning. Both JPMorgan (JPM) and Citigroup (C) announced better than expected third quarter earnings per share and revenue, with the later benefiting from strong demand in its investment banking and trading businesses. Wells Fargo (WFC), which is still looking to move beyond the public outrage over its sales tactics scandal that resulted in its CEO's departure just days ago, also reported better than expected earnings per share and revenue for the quarter. However, the stocks did not have much of a reaction to the reports, with none of them seeing moves of even 1%... Shares of Twitter (TWTR) fell 5.12% following a report by The Financial Times that Salesforce (CRM) had ruled out a bid for the microblog service operator, citing an exclusive interview with CEO Marc Benioff. Shares of Salesforce jumped 5.15% following the news... Hershey (HSY) announced that John Bilbrey, the company's chairman, president and CEO, is retiring as CEO on July 1, 2017. As part of the company's succession planning process, the board has appointed a special committee to direct the search for a new CEO. Additionally, Hershey reiterated its 2016 outlook. MAJOR MOVERS: Among the notable gainers was Advanced Micro Devices (AMD), which advanced 4% after the company and Alibaba (BABA) announced a collaboration to strengthen research and cooperation related to the use of AMD Radeon Pro GPU technology in Alibaba Cloud's global datacenters. Also higher was Terex (TEX), which gained 5.23% after BofA Merrill Lynch analyst Ross Gilardi upgraded the stock two notches to Buy from Underperform, saying the $1.3B sale of its Material Handling and Ports Solutions, or MHPS, unit to Konecranes provides "unprecedented financial flexibility." Among the noteworthy losers was Natural Health Trends (NHTC), which slipped 16.13% after the company reported preliminary third quarter revenue. Also lower was bluebird bio (BLUE), which slid 13.3% after Cantor Fitzgerald analyst Elemer Piros downgraded the stock to Sell, citing a lack of catalysts in the near-term as he thinks initial data on improved transduction efficiency in beta-thalassemia and severe sickle cell disease may not become available until 2018. TheStreet's Adam Feuerstein said the selloff may be a "classic event trade," reporting that a buyside source said that "Goldman brokers over-hyped" the company's R&D day and now trades are winding down. Additionally, ARIAD (ARIA) dropped 14.77% after the former presidential candidate Bernie Sanders stated in a tweet that the company has raised the price of a leukemia drug to "almost $199,000 a year." INDEXES: The Dow rose 39.44, or 0.22%, to 18,138.38, the Nasdaq gained 0.83, or 0.02%%, to 5,214.16, and the S&P 500 advanced 0.43, or 0.02%%, to 2,132.98.

JPM

JPMorgan

$67.52

-0.22 (-0.32%)

C

Citi

$48.61

0.14 (0.29%)

WFC

Wells Fargo

$44.71

-0.04 (-0.09%)

TWTR

Twitter

$16.88

-0.91 (-5.12%)

CRM

Salesforce

$74.27

3.64 (5.15%)

HSY

Hershey

$96.43

0.78 (0.82%)

AMD

AMD

$6.75

0.26 (4.01%)

BABA

Alibaba

$101.85

-0.3 (-0.29%)

TEX

Terex

$25.14

1.25 (5.23%)

NHTC

Natural Health Trends

$22.80

-4.385 (-16.13%)

BLUE

bluebird bio

$56.57

-8.67 (-13.29%)

ARIA

ARIAD

$11.14

-1.935 (-14.80%)

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JPM JPMorgan
$67.52

-0.22 (-0.32%)

10/06/16
10/06/16
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. Tesla (TSLA) downgraded to Neutral from Buy at Goldman with analyst David Tamberrino saying he sees incremental risk to Tesla's business related to management's willingness to deploy capital for M&A, and he believes that any delay in the company's new Model 3 launch will be detrimental to shares. 2. JPMorgan (JPM) downgraded to Hold from Buy at Sandler O'Neill with analyst Jeffery Harte citing relative share outperformance. 3. Abercrombie & Fitch (ANF) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jessica Schmidt saying the elevated promotions add to other headwinds, including the fact that the teen space is "overstored" and faces soft consumer demand and weak tourism. 4. American Express (AXP) downgraded to Reduce from Neutral at Nomura with analyst Bill Carcache saying the combination of weaker than expected revenues and higher than expected expenses will weigh on the shares. 5. Lowe's (LOW) downgraded to Neutral from Buy at Cleveland Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
SDLR
10/06/16
DOWNGRADE
Target $72
SDLR
Hold
JPMorgan downgraded to Hold from Buy at Sandler O'Neill
Sandler O'Neill analyst Jeffery Harte downgraded JPMorgan to Hold citing relative share outperformance and maintained his $72 price target on shares.
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).
10/11/16
COMP
10/11/16
INITIATION
Target $50
COMP
Sell
JPMorgan initiated with a Sell at Compass Point
Compass Point analyst Charles Peabody initiated JPMorgan with a Sell and a $50 price target saying he expects earning growth to slow further in 2017 due to higher credit costs, tougher capital markets, and headwinds in wealth management, mortgage bank, and cards.
C Citi
$48.61

0.14 (0.29%)

10/11/16
COMP
10/11/16
INITIATION
Target $39
COMP
Sell
Citi initiated with a Sell at Compass Point
Compass Point analyst Charles Peabody initiated Citi with a Sell and a $39 price target saying earnings continue to look week combined with soft international and capital markets.
09/16/16
09/16/16
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. 21st Century Fox (FOX, FOXA) downgraded to Market Perform from Outperform at Bernstein with analyst Jason Park citing a reduction in his estimates for the company's Star India business. 2. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities. 3. Citi (C) downgraded to Neutral from Buy at Goldman with analyst Richard Ramsden saying Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. 4. McCormick (MKC) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard citing valuation. 5. Novavax (NVAX) downgraded to Neutral from Overweight at Piper Jaffray, to Neutral from Overweight at JPMorgan, to Neutral from Buy at Ladenburg, to Neutral from Outperform at Wedbush, and to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/16/16
GSCO
09/16/16
DOWNGRADE
GSCO
Neutral
Citi downgraded to Neutral from Buy at Goldman
Goldman analyst Richard Ramsden downgraded Citi to Neutral and lowered his price target on the shares to $50 from $52. The analyst said Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. Ramsden's analysis suggests growth in higher return businesses, such as credit cards and wealth management, and expense discipline will not be enough to increase ROE all the way to its 10% target. Citi remains a capital returns story, constrained by the utilization of deferred tax assets, the analyst wrote in his report.
10/10/16
OPCO
10/10/16
NO CHANGE
OPCO
Oppenheimer technical analyst upgrades Financials, downgrades Consumer Staples
Oppenheimer technical analyst Ari Wald upgraded the Financials sector to Market Weight and downgraded Consumer Staples to Underweight in next step in the firm's "cyclical rotation road map." Wald identified Ameriprise (AMP), Bank of America (BAC), Citi (C), Goldman Sachs (GS), Lincoln National (LNC) and SunTrust (STI) as six stocks breaking higher that he sees as likely to benefit from internal market rotation.
WFC Wells Fargo
$44.71

-0.04 (-0.09%)

10/04/16
10/04/16
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 Underperform from Market Perform at Raymond James with analyst David Long 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. 2. Kinder Morgan (KMI) downgraded to Hold from Buy at Stifel analyst Selman Akyol citing valuation. 3. GrubHub (GRUB) downgraded to Hold from Buy at Stifel with analyst John Egbert citing valuation. 4. Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Evercore ISI with analyst Robert Ottenstein saying reports that Bai Brands is looking for a new owner are credible and could change investor's psychology on the stock and its Allied Brands business. 5. Dollar Tree (DLTR) downgraded to Neutral from Buy at Cleveland Research with the firm saying sales trends appear to have slowed further at Family Dollar as the company struggles with increased price competition, difficult comps, and strategy headwinds. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/16
RAJA
10/04/16
DOWNGRADE
RAJA
Underperform
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.
10/10/16
UBSW
10/10/16
UPGRADE
Target $44
UBSW
Neutral
Wells Fargo upgraded to Neutral from Sell at UBS
UBS analyst Brennan Hawken upgraded Wells Fargo to Neutral saying the risk/reward appears more balanced after the significant underperformance of the shares. The analyst believes Wells' earnings outlook remains uncertain, however. He keeps a $44 price target for the shares.
10/13/16
BOFA
10/13/16
NO CHANGE
Target $48
BOFA
Buy
'Healing process' may now start for Wells shares, BofA/Merrill says
BofA/Merrill analyst Erika Najarian believes the departure of CEO, Chairman and President John Stumpf could begin a "healing process" for the shares of Wells Fargo. Consensus feedback from investors post the Congressional hearings is that Stumpf retiring may be a necessary step for the bank to begin putting the cross-sell controversy behind it, Najarian tells investors in a research note. The analyst expects the shares to react positively today on the news. She has a Buy rating on Wells Fargo with a $48 price target. The shares are down 9c to $45.23 in pre-market trading.
TWTR Twitter
$16.88

-0.91 (-5.12%)

10/11/16
EVER
10/11/16
UPGRADE
Target $17
EVER
Hold
Twitter upgraded to Hold from Sell at Evercore ISI
Evercore ISI analyst Ken Sena upgraded Twitter (TWTR) to Neutral citing the recent pullback in the shares. The analyst notes that the selloff "from a stalled sale process" has put the stock more in-line with his unchanged price target of $17. Sena thinks Twitter's guidance for Q3 "may prove sufficiently conservative."
10/11/16
DBAB
10/11/16
NO CHANGE
Target $22
DBAB
Buy
Twitter guidance could meet, exceed estimates, says Deutsche Bank
Deutsche Bank analyst Ross Sandler says that for the first time in a year, Twitter's guidance could meet or exceed consensus expectations. The analyst sees a good risk/reward profile for shares into the company's Q3 results. He notes that his channel checks point to a "high-end of the range" revenue with "slightly up" monthly active users for Q3. Twitter's NFL live video project "has been by all accounts a smashing success," Sandler tells investors in a research note. He keep a Buy rating on Twitter with a $22 price target.
10/11/16
10/11/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Hold from Sell at Evercore ISI with analyst Ken Sena citing the recent pullback in the shares. 2. Tyson Foods (TSN) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow saying he thinks that the company's "strong underlying fundamentals" should enable its fiscal 2017 profits to beat expectations, and he says that the shares are undervalued. 3. Virgin America (VA) upgraded to Neutral from Underweight at JPMorgan with analyst Jamie Baker saying regulatory approval of the pending Alaska Air (ALK) takeover "remains more likely than not." 4. Cummins (CMI) was upgraded to Conviction Buy from Neutral and Caterpillar (CAT) was upgraded to Buy from Neutral at Goldman. 5. Carbonite (CARB) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Schwartz saying he sees "substantial upside" from current levels due to valuation and fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/16
RAJA
10/14/16
NO CHANGE
RAJA
Raymond James said Salesforce not bidding for Twitter a significant positive
Raymond James said reports Salesforce (CRM) will not bid for Twitter (TWTR) is a significant positive for shares and could set the stage for a sustained stock recovery and breakout in the stock.
CRM Salesforce
$74.27

3.64 (5.15%)

10/10/16
JPMS
10/10/16
NO CHANGE
Target $95
JPMS
Overweight
JPMorgan sees 'opportune entry point' for Salesforce
JPMorgan analyst Mark Murphy believes shares of Salesforce (CRM) are at an "'opportune entry point" following the recent selloff. The pullback has been driven by a "slightly soft" Q2 and concerns about a potentially expensive acquisition of Twitter (TWTR), Murphy tells investors in a research note. After speaking to industry contacts at Dreamforce, the analyst sees a path for the "overhangs to fade" with a "better pace of business in Q3/Q4" as well as the eventual fading of the Twitter discussion. Murphy reiterates an Overweight rating on Salesforce with a $95 price target in a research note titled "The Most Valuable Cloud Asset Is Undeservedly Undervalued."
10/07/16
PIPR
10/07/16
NO CHANGE
Target $100
PIPR
Overweight
Piper sees 'clouds parting' on Salesforce valuation
Salesforce CEO Marc Benioff mostly calmed nerves over a potential Twitter (TWTR) acquisition by saying at the company's analyst day, "While we look at everything, we pass on almost everything," Piper Jaffray analyst Alex Zukin tells investors in a research note. The comment does not completely take a deal for Twitter off the table, but the probability of a transformational acquisition is now "dramatically lower," Zukin contends. As such, the analyst feels the "clouds are parting" on Salesforce's valuation "with sunshine ahead." Zukin believes the company has a "clear line of sight" to $10B in revenue in FY17. He keeps an Overweight rating on the shares with a $100 price target. Salesforce closed yesterday up $2.84, or 4%, to $71.26.
10/07/16
ADAM
10/07/16
NO CHANGE
Target $95
ADAM
Buy
Salesforce worthy of investor consideration at current levels, says Canaccord
Canaccord analyst Richard Davis came away from the Salesforce (CRM) Dreamforce week more enthused about the company's outlook. The analyst noted the company is growing its revenues 3.5 times faster than it legacy peers. Davis noted the company's CEO said they are very disciplined on price when it comes to acquisitions and believes that they would not be interested in Twitter (TWTR) at its rumored asking price of $28 per share. Davis reiterated his Buy rating and $95 price target on Salesforce shares.
HSY Hershey
$96.43

0.78 (0.82%)

09/06/16
JPMS
09/06/16
INITIATION
Target $100
JPMS
Neutral
Hershey reinstated with a Neutral at JPMorgan
JPMorgan analyst Ken Goldman reinstated Hershey with a Neutral rating and $100 price target following a period of restriction. The rating is unchanged and the price target is raised from $87.
08/30/16
08/30/16
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. BofA Merrill Lynch resumed coverage on Hershey (HSY) with an Underperform rating and $100 price target, as the firm expects shares to trade on fundamentals, which are under pressure. Last night, Mondelez (MDLZ) announced it has ended discussions with Hershey regarding a possible combination of the two companies. 2. eBay (EBAY) initiated with a Long-Term Buy at Hilliard Lyons by analyst Stephen Turner , who set a $35 price target on the stock. 3. Galapagos NV (GLPG) initiated with a Buy at Janney Capital by Debjit Chattopadhyay, who said that filgotinib, the company's oral JAK inhibitor, is "shaping up to be a blockbuster." 4. Gemphire Therapeutics (GEMP) initiated with with a Buy rating and $17 price target by Canaccord Genuity analyst John Newman and with a Buy rating and $15 price target by Jefferies analyst Matthew Andrews. 5. Sophiris Bio (SPHS) initiated with an an Overweight rating and $7 price target by Piper Jaffray analyst Charles Duncan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/16
JPMS
09/23/16
NO CHANGE
JPMS
Neutral
JPMorgan says Mondelez speculation misguided, not pursuing Hershey again
JPMorgan analyst Ken Goldman noted that strength in Hershey (HSY) shares this morning was being attributed to speculation that Mondelez (MDLZ) might be back in talks to buy the company. However, after speaking with Mondelez, the analyst said it is clear that the company's stance is unchanged and there have been no new deal talks, nor does he think there will be any. Goldman keeps a Neutral rating on Hershey shares, which have given up their early gains and turned slightly negative for the session.
09/06/16
09/06/16
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. Johnson Controls (JCI) initiated with a Sector Perform at RBC Capital with analyst Deane Dray saying he thinks that the company's synergies from its merger can beat expectations, but the analyst says that the stock is already "reflecting optimism." 2. DaVita (DVA) initiated with a Neutral at Citi. 3. Hershey (HSY) reinstated with a Neutral at JPMorgan. 4. Dollar Tree (DLTR) coverage assumed with a Conviction Buy at Goldman. 5. Lockheed Martin (LMT) initiated with a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
AMD AMD
$6.75

0.26 (4.01%)

10/07/16
LEHM
10/07/16
INITIATION
Target $7
LEHM
Equal Weight
AMD initiated with an Equal Weight at Barclays
Barclays analyst Blayne Curtis started AMD with an Equal Weight rating and $7 price target. The company's transformation remains in the early stages and "still faces an uphill battle to recapture meaningful share and achieve sustained profitability," Curtis tells investors in a research note.
10/12/16
10/12/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) upgraded to Positive from Negative at OTR Global with the firm saying its checks indicate iPhone 7 launch orders are above last year's model launch, with fourth quarter order gains and stable inventories. 2. Procter & Gamble (PG) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's plans to accelerate Research & Development and advertising spending, as well as recent positive earnings surprises. 3. Barracuda (CUDA) upgraded to Overweight from Neutral at Piper Jaffray with analyst Andrew Nowinski saying the company reported "another strong quarter" and its transition to a subscription-based cloud portfolio is nearly complete. 4. AMD (AMD) upgraded to Neutral from Underperform at Credit Suisse with analyst John Pitzer saying near-term momentum will continue to offset longer-term concerns around lack of scale. 5. Motorola Solutions (MSI) upgraded to Outperform from Market Perform at BMO Capital with analyst Tim Long saying he expects organic revenue growth to return later this year and sees the company's investment in smart public safety software to help expansion beyond hardware. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/12/16
FBCO
10/12/16
UPGRADE
Target $7
FBCO
Neutral
AMD upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse analyst John Pitzer upgraded AMD to Neutral and raised its price target to $7 from $5.50 saying near-term momentum will continue to offset longer-term concerns around lack of scale. The analyst sees catalysts from conservative Q3/Q4 guidance, recent funding that significantly improved the balance sheet and liquidity, flexibility from the renegotiation of WSA, the Zen product launch in 2017, and potential monetization of its valuable IP.
10/07/16
10/07/16
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. Zillow (ZG, Z) initiated with a Buy at Needham. 2. AMD (AMD) initiated with an Equal Weight at Barclays. 3. Aflac (AFL) was initiated with an Underperform at Credit Suisse while the firm also initiated Prudential (PRU) and Assurant (AIZ) with a Neutral. 4. Fifth Third (FITB) initiated with a Neutral at Wedbush. 5. GW Pharmaceuticals (GWPH) initiated with a Buy at Goldman. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
BABA Alibaba
$101.85

-0.3 (-0.29%)

10/14/16
JPMS
10/14/16
NO CHANGE
Target $134
JPMS
Overweight
JPMorgan tweaks Alibaba, Netflix targets lower ahead of Q3 results
JPMorgan analyst Doug Anmuth lowered his price target for Alibaba (BABA) to $134 from $135 and his target for Netflix (NFLX) to $122 from $125 ahead of the Q3 reporting season. Both stocks remain Overweight rated. The analyst slightly lowered his estimates for Alibaba to reflect tougher inventory comps and increased investment spending. He remains positive on the company's overall monetization trends. On Netflix, Anmuth tweaked his 2017 average selling price forecast lower while increasing his investment spend estimate modestly. Within the Internet space, the analyst's top large-cap picks into the quarter are Alphabet (GOOGL), Facebook (FB) and Amazon.com (AMZN). Among small-caps, his top picks into earnings are Yelp (YELP), Pandora (P) and Match Group (MTCH).
09/29/16
MKMP
09/29/16
NO CHANGE
Target $130
MKMP
Buy
Alibaba soft third party tracking data a buying opportunity, says MKM Partners
MKM Partners said the 2% pullback in Alibaba shares this morning is being attributed to soft third party tracking data. The firm's analyst notes tracking data would not would not capture monetization improvement which has been the upside driver for revenue growth acceleration. MKM Partners rates Alibaba a Buy with a $130 price target.
09/29/16
DBAB
09/29/16
NO CHANGE
Target $138
DBAB
Buy
Alibaba price target raised to $138 from $109 at Deutsche Bank
Deutsche Bank analyst Alan Hellawell raised his price target for Alibaba to $138 saying his firm's recent payments survey in China reveals Alipay ranks as the "clear #1" online payment method. Alipay has an "unrivalled" 40.8% of all online transactions, and 37.4% of O2O consumption, Hellawell tells investors in a research note. The survey respondents also revealed greater intentions to expand use of Alipay over other alternatives, the analyst adds. He keeps a Buy rating on shares of Alibaba.
10/11/16
EVER
10/11/16
NO CHANGE
Target $125
EVER
Buy
Alibaba price target raised to $125 from $115 at Evercore ISI
Evercore ISI analyst Ken Sena raised Alibaba's price target to $125 due to favorable near-term macro data and steps the company has is taking into audience and logistics as fueling long-term continued growth. The analyst rates Alibaba a Buy.
TEX Terex
$25.14

1.25 (5.23%)

10/14/16
BOFA
10/14/16
UPGRADE
Target $29
BOFA
Buy
Terex upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst Ross Gilardi upgraded Terex two notches to Buy from Underperform and raised its price target to $29 from $21 saying the $1.3B sale of its Material Handling and Ports Solutions, or MHPS, to Konecranes provides "unprecedented financial flexibility." Gilardi said Terex now has the capability to cope with weak operating conditions and expects further portfolio rationalization announcements over the next 3-6 months, and potentially even the divestiture of its remaining Construction assets.
09/30/16
LYON
09/30/16
INITIATION
Target $30
LYON
Buy
Terex initiated with a Buy at CLSA
CLSA analyst Kristine Kubacki initiated Terex with a Buy and a $30 price target. Kubacki believes the new management team will aggressively pursue long overdue cost actions with respect to manufacturing footprint, portfolio rationalization and overhead, driving material earnings leverage when the cycle upswings.
09/26/16
WELS
09/26/16
NO CHANGE
WELS
Terex weakness creates buying opportunity, says Wells Fargo
Wells Fargo blames the 6.5% decline in Terex's stock Friday on Oshkosh's fiscal 2017 guidance. However, Wells says that 2017 consensus estimates for Terex already reflect revenue declines. Moreover, the firm says that the drop in the company's stock ignores the fact that it is selling some of its "lower return" discontinued operations and that the benefits from these sales are not included in consensus estimates. The firm says that the cash and marketable securities proceeds from such deals "appear to be equivalent to approximately 54% of current TEX equity market capitalization." Wells keeps an Outperform rating o nthe shares.
09/07/16
09/07/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Navistar (NAV) initiated with a Hold at Deutsche Bank. 2. Barrick Gold (ABX) initiated with a Sell at Berenberg while the firm initiated Randgold (GOLD), Kinross Gold (KGC), and Goldcorp (GG) with a Hold. 3. 3. After the close on Tuesday, Deutsche Bank analysts Nicole DeBlase, Saree Boroditsky, and Kevin Marek initiated the U.S. Machinery group with a "cautious view." Oshkosh (OSK), Caterpillar (CAT), and Wabtec (WAB) were initiated with Buy ratings at Deutsche Bank, while the firm initiated Cummins (CMI) and CNH Industrial (CNHI) with Sell ratings. The firm also initiated Deere (DE), AGCO (AGCO), Terex (TEX), PACCAR (PCAR), WABCO (WBC), and United Rentals (URI) with Hold ratings. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
NHTC Natural Health Trends
$22.80

-4.385 (-16.13%)

BLUE bluebird bio
$56.57

-8.67 (-13.29%)

10/14/16
10/14/16
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. Royal Dutch Shell (RDS.A, RDS.B) downgraded to Sell from Hold at Canaccord with the firm citing the gap between the average free cash flow generation of Shell over the past two decades and the medium-term target. 2. bluebird bio (BLUE) downgraded to Sell from Hold at Cantor with analyst Elemer Piros saying he sees a lack of catalysts as he does not expect data to be announced at this year's American Society of Hematology conference to de-risk the hemoglobinopathy programs. 3. Fluor (FLR) downgraded to Neutral from Accumulate at Seaport Global with analyst Ryan Cassil citing persistently weaker global macroeconomic trends and expectations for a continuation of weaker project activity in 2017. 4. Boston Beer (SAM) downgraded to Hold from Buy at Berenberg. 5. Estee Lauder (EL) downgraded to Neutral from Overweight at Piper Jaffray after the firm's semi-annual proprietary "Taking Stock With Teens" survey. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/16
CANT
10/14/16
DOWNGRADE
Target $37
CANT
Sell
Cantor cuts bluebird bio to Sell with $37 price target
Cantor Fitzgerald analyst Elemer Piros downgraded bluebird bio to Sell from Hold and dropped his price target for the shares to $37 from $42. The biotech focused on developing gene therapies closed yesterday down 31c to $64.24. The analyst sees a lack of catalysts as he does not expect data to be announced at this year's American Society of Hematology conference to de-risk the hemoglobinopathy programs. Bluebird disclosed yesterday that all future LentiGlobin trials going forward will use its improved manufacturing process, and those trials are just beginning, Piros tells investors in a research note. As such, initial data on improved transduction efficiency may not become available until 2018, the analyst contends. With this year's ASH meeting not a catalyst, Piros expects selling pressure on bluebird shares.
10/14/16
LEER
10/14/16
NO CHANGE
Target $80
LEER
Outperform
bluebird bio price target raised to $80 from $67 at Leerink
Leerink analyst Michael Schmidt raised his price target for bluebird bio to $80 from $67 as he sees the clinical development and regulatory path for the company's pipeline products incrementally more de-risked. While development of key product LentiGlobin in transfusion-dependent beta-thalassemia and severe sickle cell disease has been more complex than initially anticipated, the analyst believes bluebird bio is well positioned to overcome remaining technical hurdles. He reiterates an Outperform rating on the shares.
10/14/16
RHCO
10/14/16
NO CHANGE
RHCO
bluebird bio outlook has improved, says SunTrust
SunTrust analyst Edward Nash believes that the improvement in the transduction efficiency of bluebird's LentiGlobin should enable the company "to target the entire transfusion-dependent B-thalassemia population" for the first time. Nash adds that the changes should also improve LentiGlobin's efficacy in sickle cell. He reiterates a $115 price target and Buy rating on the stock.
ARIA ARIAD
$11.14

-1.935 (-14.80%)

09/26/16
LEER
09/26/16
INITIATION
Target $20
LEER
Outperform
ARIAD initiated with an Outperform at Leerink
Leerink analyst Michael Schmidt started ARIAD with an Outperform rating and $20 price target.
10/04/16
RHCO
10/04/16
INITIATION
Target $22
RHCO
Buy
ARIAD initiated with a Buy at SunTrust
Target $22.
10/13/16
COWN
10/13/16
NO CHANGE
Target $16
COWN
Outperform
ARIAD price target raised to $16 from $10 at Cowen
Cowen analyst Chris Shibutani raised his price target on ARIAD to $16 from $10 citing the execution of its turnaround strategy and a positive view on its Brigatanib drug for non-small cell lung cancer. Shibutani reiterated his Outperform rating on ARIAD shares.
09/21/16
09/21/16
NO CHANGE

RBC identifies top biotech takeover candidates
RBC Capital identified the following names as its top potential takeover candidates in the biotech space: ARIAD (ARIA), Spark Therapeutics (ONCE), BioMarin (BMRN), Aerie Pharmaceuticals (AERI), Intra-Cellular (ITCI), TESARO (TSRO), Incyte (INCY), Sarepta (SRPT), and Puma Biotechnology (PBYI). The firm thinks that investors are underestimating the positive impact that M&A will have on biotech stock prices.

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General news
FX Update: The dollar retained a generally softer bias »

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VNCE

Vince Holding

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NWBO

Northwest Biotherapeutics

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AAPL

Apple

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Microsoft

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MSFT

Microsoft

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ATKR

Atkore

$19.71

-0.11 (-0.55%)

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Syndicate
Atkore 8M share Secondary priced at $19.00 »

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BPMC

Blueprint Medicines

$26.20

-2.23 (-7.84%)

19:58
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Syndicate
Blueprint Medicines 5M share Secondary priced at $25.00 »

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LULU

lululemon

$59.84

2.6 (4.54%)

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lululemon CFO says early Q4 trends strengthened into December »

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LULU

lululemon

$59.84

2.6 (4.54%)

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lululemon CEO highlights Q3 gross margin, reports 11% comp growth in pants »

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CVX

Chevron

$114.44

1.68 (1.49%)

19:20
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Hot Stocks
Chevron announces $19.8B capital, exploratory budget for 2017 »

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X

U.S. Steel

$37.49

1.54 (4.28%)

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Periodicals
U.S. Steel CEO: Company may bring back 10,000 U.S. jobs, CNBC says »

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VNDA

Vanda

$15.40

-0.6 (-3.75%)

18:47
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Vanda settles Fanapt patent litigation with Apotex »

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AE

Adams Resources

$42.31

-0.68 (-1.58%)

, SWN

Southwestern Energy

$12.37

-0.08 (-0.64%)

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Hot Stocks
Adams Resources appoints Josh Anders as CFO »

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AE

Adams Resources

$42.31

-0.68 (-1.58%)

SWN

Southwestern Energy

$12.37

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EZPW

EZCORP

$11.80

0.05 (0.43%)

18:42
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Earnings
EZCORP reports Q4 EPS with items (31c), may not compare to consensus 6c »

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  • 08

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RICE

Rice Energy

$24.59

-0.16 (-0.65%)

18:33
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Rice Energy initiated  »

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AMZN

Amazon.com

$770.42

5.7 (0.75%)

18:30
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Periodicals
Amazon spokesperson denies 2,000 grocery stores report, CNET says »

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ICON

Iconix Brand

$9.26

0.14 (1.54%)

18:23
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Iconix Brand reports employment termination of Chief Strategy Officer Blumberg »

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PBYI

Puma Biotechnology

$39.80

-2 (-4.78%)

18:23
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Puma Biotechnology 'pleased' to complete biomarker analysis of neratinib »

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FTK

Flotek

$11.10

-2.01 (-15.33%)

18:17
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Flotek: Reviewing FourWorld Capital short report, remain confident in product »

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PBYI

Puma Biotechnology

$39.80

-2 (-4.78%)

18:09
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Hot Stocks
Puma Biotechnology 'pleased' with preliminary neratinib activity »

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PNM

PNM Resources

$32.05

0.45 (1.42%)

18:09
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PNM Resources requests an electric rate increase of $99M in New Mexico »

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BK

BNY Mellon

$48.55

0.56 (1.17%)

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BNY Mellon outage led to certain Swift payment failures, WSJ reports »

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TLRD

Tailored Brands

$18.93

0.62 (3.39%)

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Tailored Brands up 22% to $23.20 after Q3 results beat estimates »

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  • 08

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FLXS

Flexsteel Industries

$59.12

2.92 (5.20%)

, UNH

UnitedHealth

$159.40

2.08 (1.32%)

17:50
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Flexsteel names Eric Rangen chair of the board »

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FLXS

Flexsteel Industries

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UNH

UnitedHealth

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NKE

Nike

$52.10

1.53 (3.03%)

, UA

Under Armour

$27.03

1.62 (6.38%)

17:49
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Periodicals
Nike losing market share to faster-growing rivals, Barron's reports »

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NKE

Nike

$52.10

1.53 (3.03%)

UA

Under Armour

$27.03

1.62 (6.38%)

ADDYY

adidas

$76.96

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T

AT&T

$40.45

1.1 (2.80%)

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Conference/Events
AT&T management to meet with Jefferies »

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