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FIT

Fitbit

$13.10

-0.24 (-1.80%)

, GRMN

Garmin

$48.33

0.35 (0.73%)

08:25
10/17/16
10/17
08:25
10/17/16
08:25

Fitbit Charge 2 launch has met expectations in U.S., says Longbow

Longbow analyst Joe Wittine said his channel checks indicate that the launch of Fitbit's (FIT) Charge 2 device has met "conservative" initial expectations in the U.S. and is exceeding expectations in Europe, disputing "a couple calls to the contrary." Additionally, his contacts see no reason to doubt Q4 holiday demand for Fitbit, noted Wittine, who keeps a Buy rating on the stock. The analyst also noted that his checks indicate Garmin's (GRMN) Fitness sales are growing in the low-20% range, providing potential for upside, though he keeps a Neutral rating on its shares.

FIT

Fitbit

$13.10

-0.24 (-1.80%)

GRMN

Garmin

$48.33

0.35 (0.73%)

  • 26

    Oct

  • 02

    Nov

  • 08

    Dec

FIT Fitbit
$13.10

-0.24 (-1.80%)

09/29/16
09/29/16
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. Coca-Cola (KO) downgraded to Hold from Buy at Stifel with analyst Mark Swartzberg saying that Coca-Cola's and Pepsi's organic EPS growth appears to be similar, but he believes that Pepsi is less vulnerable to foreign exchange fluctuations. 2. Fitbit (FIT) downgraded to Underweight from Sector Weight at Pacific Crest analyst Brad Erickson citing his channel checks which indicated that Charge 2, the company's flagship holiday product, is off to a slow start. 3. Discovery (DISCA) downgraded to Market Perform from Outperform at Barrington with analyst James Goss saying that Brexit and sports costs are dragging on its international results and foreign exchange tailwinds are moderating in many geographies. 4. Sonus (SONS) downgraded to Underperform from Market Perform at Cowen with analyst Paul Silverstein saying the firm's industry checks uncovered operational challenges and ongoing employee and executive churn. 5. Alcobra (ADHD) downgraded to Hold from Buy at Cantor and to Perform from Outperform at Oppenheimer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/16
MZHO
09/29/16
NO CHANGE
MZHO
Fitbit shares defended at Mizuho
09/29/16
MZHO
09/29/16
NO CHANGE
MZHO
Fitbit Charge 2 checks remain strong, pullback unwarranted, says Mizuho
Mizuho's checks indicate Fitbit's Charge 2 sell through remains strong with favorable reviews, despite investor concerns. The firm's analyst views the pullback in Fitbit shares as unwarranted, especially since Q3 guidance assume minimal unit sales, and expects the Charge 2 to compete well and serve as a catalyst for Holiday season into Spring 2017. Mizuho continues to believe in Fitbit's long-term opportunity to maintain dominant share with in the increasingly growing global market for wearables while pursing opportunities in the healthcare industry.
10/07/16
CLVD
10/07/16
NO CHANGE
CLVD
Cleveland Research is cautious on Fitbit heading into Q4 and Q1 2027
Cleveland Research is cautious on Fitbit heading into Q4 and Q1 2027 saying new product uptake is muted and is concerned about inventory levels.
GRMN Garmin
$48.33

0.35 (0.73%)

08/24/16
GSCO
08/24/16
DOWNGRADE
Target $46
GSCO
Sell
Garmin downgraded to Sell from Neutral at Goldman
Goldman analyst Simona Jankowski downgraded Garmin to Sell citing valuation and near peak multiple. The analyst expects the key Fitness/Outdoor segment growth to slow in Q2 to 7% in 2017 from 29% in Q2 2016 resulting in share underperformance. Jankowski sees several negative catalysts over the next few months that include increased competitor product launches, increased competition from new emerging consumer electronics categories, and difficult comps.
08/24/16
08/24/16
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. Garmin (GRMN) downgraded to Sell from Neutral at Goldman with analyst Simona Jankowski citing valuation and near peak multiple. 2. Express (EXPR) downgraded to Hold from Buy at Deutsche Bank. 3. New Media (NEWM) downgraded to Sell from Neutral at Citi with analyst Jason Bazinet saying New Media bulls see $1B of M&A by year end, further synergies, organic revenues stabilizing in the fourth quarter of 2017, and a robust, sustainable dividend. However, Bazinet believes the bear case is more likely with no additional M&A, top-line trends that fall short of stable revenues by Q4 of 2017, and growing investor anxiety about the sustainability of the dividend. 4. Nordson (NDSN) downgraded to Perform from Outperform at Oppenheimer with analyst Christopher Glynn citing valuation. 5. Westfield Financial (WFD) downgraded to Underperform from Neutral at Macquarie citing disappointing first half 2016 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/30/16
GSCO
08/30/16
NO CHANGE
GSCO
Sell
Garmin's Fitness/Outdoor sales to decelerate, says Goldman
Goldman analyst Simona Jankowski expects Garmin's (GRMN) Fitness/Outdoor sales to decelerate in 2H 2016/2017, leading to share underperformance, following Fitbit's new product launches. The analyst notes increasing direct competition in wearables and share of wallet competition from new consumer categories such as VR headsets, cameras and drones for the holidays, and reiterates his Sell rating on Garmin.
09/08/16
BERN
09/08/16
NO CHANGE
BERN
Impact of Apple Watch likely to be 'limited' in near-term, says Bernstein
After Apple (AAPL) announced changes to its Apple Watch, Bernstein analyst A.M. Sacconaghi, Jr. says that the device's "relatively high price, continued tepid battery life and the absence of unique health monitoring capabilities will likely limit its overall impact near-term." Fitbit (FIT) and Garmin (GRMN) market watches that compete with Apple Watch. The analyst keeps a $125 price target and Outperform rating on Apple.

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BBY

Best Buy

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Anixter

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AZZ

AZZ Inc.

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FITB

Fifth Third

$25.33

0.71 (2.88%)

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MDT

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PHM

PulteGroup

$23.08

-0.24 (-1.03%)

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PulteGroup reports backlog of 9,323 homes at Q1-end »

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GPK

Graphic Packaging

$13.58

0.04 (0.30%)

06:35
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Graphic Packaging reports Q1 EPS 14c, consensus 12c »

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EPZM

Epizyme

$14.90

0.35 (2.41%)

06:34
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FDA grants Fast Track designation to Epizyme's tazemetostat »

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CIT

CIT Group

$44.29

0.69 (1.58%)

06:34
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Earnings
CIT Group reports Q1 EPS ex-items 80c, consensus 59c »

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PHM

PulteGroup

$23.08

-0.24 (-1.03%)

06:34
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PulteGroup reports Q1 value of net new orders up 16% to $2.4B »

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BA

Boeing

$182.06

1.68 (0.93%)

, EADSY

Airbus

$20.02

0.84 (4.38%)

06:33
04/25/17
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Periodicals
Boeing nears decision on 737-10 jet launch, Reuters reports »

Boeing (BA) is close to a…

BA

Boeing

$182.06

1.68 (0.93%)

EADSY

Airbus

$20.02

0.84 (4.38%)

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PHM

PulteGroup

$23.08

-0.24 (-1.03%)

06:33
04/25/17
04/25
06:33
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06:33
Earnings
PulteGroup reports Q1 EPS 28c, consensus 29c »

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SVU

Supervalu

$3.85

0.01 (0.26%)

06:32
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Supervalu reports Q4 retail identical store sales down 5.8% »

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NLSN

Nielsen

$41.59

0.59 (1.44%)

06:32
04/25/17
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Earnings
Nielsen sees FY17 GAAP EPS $1.40-$1.46 , consensus $2.68 »

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FBC

Flagstar Bancorp

$28.69

0.31 (1.09%)

06:32
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Earnings
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NLSN

Nielsen

$41.59

0.59 (1.44%)

06:31
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Earnings
Nielsen reports Q1 EPS 20c, consensus 48c »

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SVU

Supervalu

$3.85

0.01 (0.26%)

06:31
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Earnings
Supervalu reports Q4 adjusted EPS 13c, consensus 9c »

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BHI

Baker Hughes

$58.65

0.97 (1.68%)

06:30
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Earnings
Baker Hughes reports Q1 adjusted EPS (4c), consensus (21c) »

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LLY

Eli Lilly

$83.42

1.53 (1.87%)

06:29
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Eli Lilly backs FY17 EPS view of $4.05-$4.15, consensus $4.11 »

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WHR

Whirlpool

$174.80

3.29 (1.92%)

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CAPR

Capricor Therapeutics

$3.09

0.08 (2.66%)

06:28
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Conference/Events
Capricor Therapeutics to host conference call »

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LLY

Eli Lilly

$83.42

1.53 (1.87%)

06:27
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Earnings
Eli Lilly reports Q1 EPS 98c, consensus 96c »

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WEGRY

Weir Group

$12.91

0.71 (5.82%)

06:27
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