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NFLX

Netflix

$99.80

-1.67 (-1.65%)

, TACO

Del Taco

$12.63

0.51 (4.21%)

17:58
10/17/16
10/17
17:58
10/17/16
17:58

On The Fly: After Hours Movers

UP AFTER EARNINGS: Netflix (NFLX), up 19.8%... Del Taco (TACO), up 7.7%... Celanese (CE), up 4.3%... GigPeak (GIG), up 1.5%. ALSO HIGHER: Resources Connection (RECN), up 8.9% after it said it intends to commence a modified "Dutch auction" tender at $13.50-$16.00 per share... Corrections Corp. (CXW), up 5.4% after it reported preliminary third quarter funds from operation and provided FFO guidance for fiscal 2016 and fiscal 2017... Depomed (DEPO), up 0.8% after the company agreed to add three Starboard directors to its board. DOWN AFTER EARNINGS: Badger Meter (BMI), down 6.5%... IBM (IBM), down 2.8%. ALSO LOWER: Nektar (NKTR), down 4.3% after it filed to sell $175M in common stock... Visa (V), down 1.5% after it announced that Charlie Scharf will resign as chief executive officer of the company effective December 1... Johnson & Johnson (JNJ), down 0.7% after Pfizer (PFE) announced U.S. availability of INFLECTRA, a biosimilar of REMICADE.

NFLX

Netflix

$99.80

-1.67 (-1.65%)

TACO

Del Taco

$12.63

0.51 (4.21%)

CE

Celanese

$63.58

0.21 (0.33%)

GIG

GigPeak

$2.61

0.07 (2.76%)

RECN

Resources Connection

$13.06

-0.04 (-0.31%)

CXW

CoreCivic

$14.35

0.13 (0.91%)

DEPO

Depomed

$23.83

-0.26 (-1.08%)

BMI

Badger Meter

$33.01

-0.05 (-0.15%)

IBM

IBM

$154.77

0.32 (0.21%)

NKTR

Nektar

$15.67

-0.22 (-1.38%)

V

Visa

$82.15

-0.3 (-0.36%)

JNJ

Johnson & Johnson

$118.49

0.93 (0.79%)

PFE

Pfizer

$32.50

-0.16 (-0.49%)

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NFLX Netflix
$99.80

-1.67 (-1.65%)

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).
10/13/16
PACS
10/13/16
NO CHANGE
PACS
Netflix subscription growth to reaccelerate in Q4, into 2017, says Pacific Crest
Pacific Crest analyst Andy Hargreaves expects Netflix's Q3 results to be hurt by "excess churn" caused by its price increase. However, he predicts that the company's subscription growth will reaccelerate in Q4 and into 2017, driving the stock higher. The analyst keeps a $125 price target on Netflix and recommends buying the shares.
10/12/16
MSCO
10/12/16
NO CHANGE
Target $110
MSCO
Morgan Stanley sees 'un-grandfathering' peaking for Netflix in Q3
Morgan Stanley analyst Benjamin Swinburne believes the market expects Netflix (NFLX) to report Q3 domestic net subscriber additions that fall short of the company's 300K forecast. However, he thinks the impact of "un-grandfathering" will peak in Q3 and that the percentage of U.S. members seeing price increases will begin to fade in Q4. While acknowledging that Amazon (AMZN) continues to grow as a competitor for content and time spent, Swinburne notes that local and regional players in many markets continue to struggle. The analyst keeps an Overweight rating and $110 price target on Netflix shares.
10/12/16
UBSW
10/12/16
NO CHANGE
Target $92
UBSW
Neutral
Netflix app download showing maturity in U.S., picking up in Europe, says UBS
UBS analyst Doug Mitchelson said the firm's Evidence Lab shows Netflix app download data as reflecting maturity in the U.S. and Canada but picking up in Europe. The analyst said his confidence in 10M subscriber addition estimates is increased but he is not prepared to increase his estimates. Mitchelson does not expect Q3 results and Q4 guidance to resolve the bull/bear debate and continues to expect the shares to trade in a range. Mitchelson reiterated his Neutral rating on Netflix shares.
TACO Del Taco
$12.63

0.51 (4.21%)

11/03/15
11/03/15
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A.O. Smith (AOS) initiated with a Buy at SunTrust... Actuant (ATU) initiated with a Buy at SunTrust... Allegiant Travel (ALGT) initiated with a Neutral at Credit Suisse... Brady (BRC) initiated with a Reduce at SunTrust... CIRCOR (CIR) initiated with a Neutral at SunTrust... CPI Card Group (PMTS) initiated with an Outperform at BMO Capital... Culp (CFI) initiated with a Hold at Cantor... Del Taco (TACO) initiated with a Buy at Jefferies... Dover (DOV) initiated with a Buy at SunTrust... Exterran (EXH) initiated with a Buy at Evercore ISI... Flowserve (FLS) initiated with a Neutral at SunTrust... Generac (GNRC) initiated with a Neutral at SunTrust... Graco (GGG) initiated with a Buy at SunTrust... Gulfport Energy (GPOR) reinstated with a Buy at Jefferies... HP Enterprise (HPE) initiated with a Market Perform at Bernstein... HP Inc. (HPQ) initiated with an Outperform at Bernstein... IDEX Corp. (IEX) initiated with a Neutral at SunTrust... Kansas City Southern (KSU) initiated with a Buy at Topeka... Kingfisher (KGFHY) initiated with an Underweight at JPMorgan... M&T Bank (MTB) coverage resumed with a Hold at Evercore ISI... Manitowoc (MTW) initiated with a Neutral at SunTrust... Mohawk (MHK) initiated with an Outperform at Baird... Nordson (NDSN) initiated with a Buy at SunTrust... Oshkosh (OSK) initiated with a Neutral at SunTrust... Ralph Lauren (RL) initiated with a Positive at Susquehanna... Rexnord (RXN) initiated with a Buy at SunTrust... Thermon Group (THR) initiated with a Neutral at SunTrust... ULTA Beauty (ULTA) initiated with a Hold at Stifel.
11/03/15
JEFF
11/03/15
INITIATION
Target $16
JEFF
Buy
Del Taco initiated with a Buy at Jefferies
Target $16.
01/07/16
BTIG
01/07/16
INITIATION
Target $14
BTIG
Buy
Del Taco initiated with a Buy (yesterday) at BTIG
Target $14.
01/07/16
01/07/16
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agilent (A) initiated with a Hold at Deutsche Bank... Alexion (ALXN) initiated with a Buy at SunTrust... Alibaba (BABA) initiated with an Outperform at Baird... Bruker (BRKR) initiated with a Market Perform at Avondale... Care Capital Properties (CCP) initiated with a Neutral at Mizuho... Celgene (CELG) initiated with a Buy at SunTrust... Cepheid (CPHD) initiated with an Outperform at Avondale... Community Bank System (CBU) initiated with a Neutral at Piper Jaffray... CytRx (CYTR) initiated with a Hold at Jefferies... Del Taco (TACO) initiated with a Buy (yesterday) at BTIG... Depomed (DEPO) initiated with a Neutral at Mizuho... Ensco (ESV) initiated with an Equal Weight at Stephens... FCB Financial (FCB) initiated with a Buy at Gabelli... FactSet (FDS) initiated with a Hold at Evercore ISI... Fluidigm (FLDM) initiated with a Buy at Deutsche Bank... GTT Communications (GTT) initiated with an Overweight at Stephens... IBERIABANK (IBKC) initiated with a Neutral at Piper Jaffray... Illumina (ILMN) initiated with a Hold at Deutsche Bank... InspireMD (NSPR) initiated with a Buy at Rodman & Renshaw... Johnson Controls (JCI) initiated with an Outperform at Oppenheimer... McGraw Hill Financial (MHFI) initiated with a Buy at Evercore ISI... Moody's (MCO) initiated with a Hold at Evercore ISI... Myriad Genetics (MYGN) initiated with a Buy at Deutsche Bank... NBT Bancorp (NBTB) initiated with a Neutral at Piper Jaffray... Omnicell (OMCL) initiated with a Buy at Benchmark... Ophthotech (OPHT) initiated with a Buy at SunTrust... Paycom (PAYC) initiated with an Outperform at Baird... Paylocity (PCTY) initiated with an Outperform at Baird... PerkinElmer (PKI) initiated with a Hold at Deutsche Bank... Rowan Companies (RDC) initiated with an Equal Weight at Stephens... Shopify (SHOP) initiated with an Outperform at Baird... Syngenta (SYT) initiated with a Neutral at Macquarie... Thermo Fisher (TMO) initiated with a Buy at Deutsche Bank... Trovagene (TROV) initiated with a Market Perform at Avondale... UTi Worldwide (UTIW) to host special shareholder meeting... Waters (WAT) initiated with a Hold at Deutsche Bank... Wayfair (W) initiated with a Neutral at Baird... Willis Towers Watson (WLTW) initiated with an Underweight at JPMorgan.
CE Celanese
$63.58

0.21 (0.33%)

10/06/16
KEYB
10/06/16
INITIATION
Target $80
KEYB
Overweight
Celanese initiated with an Overweight at KeyBanc
KeyBanc analyst Micahel Sison initiated Celanese with an Outperform and an $80 price target. The analyst said Celanese has an operating strategy that can generate steady growth, high margins and top tier returns in the specialty chemical sector.
10/06/16
KEYB
10/06/16
INITIATION
KEYB
Overweight
Celanese initiated with an Overweight at KeyBanc
09/07/16
09/07/16
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. Discover (DFS) downgraded to Equal Weight from Overweight at Barclays with analyst Mark DeVries downgrading the stock after lowering his rating on the U.S. Consumer Finance sector to Neutral from Positive. 2. Eastman Chemical (EMN) and Celanese (CE) were downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying he sees earnings growth risks from a secular decline in the "once dependable" filter tow business, which is used in cigarette filters. 3. Royal Caribbean (RCL) downgraded to Hold from Buy at Argus with analyst John Staszak citing the company's outlook for higher fuel costs and foreign exchange headwinds. 4. Accuride (ACW) downgraded to Hold from Buy at Gabelli. 5. Dollar General (DG) downgraded to Underperform from Peer Perform at Wolfe 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.
09/07/16
SBSH
09/07/16
DOWNGRADE
Target $73
SBSH
Neutral
Eastman Chemical downgraded to Neutral from Buy at Citi
Citi analyst P.J. Juvekar downgraded Eastman Chemical (EMN) to Neutral saying he sees earnings growth risks from a secular decline in the "once dependable" filter tow business, which is used in cigarette filters. The analyst cut his price target for the shares to $73 from $74 and notes his 2017 earnings estimates are now below consensus. Juvekar this morning also downgraded Celanese (CE) to Neutral citing a similar rationale.
GIG GigPeak
$2.61

0.07 (2.76%)

06/16/16
RAJA
06/16/16
INITIATION
Target $3.5
RAJA
Outperform
GigPeak initiated with an Outperform at Raymond James
Raymond James analyst J. Steven Smigie initiated GigPeak with an Outperform and $3.50 price target.
06/14/16
NEED
06/14/16
INITIATION
Target $3.5
NEED
Buy
GigPeak initiated with a Buy at Needham
Needham analyst N. Quinn Bolton initiated GigPeak with a Buy and $3.50 price target.
04/05/16
ROTH
04/05/16
NO CHANGE
Target $7
ROTH
Buy
Roth Capital positive on GigOptix acquisition of Magnum Semiconductor
Roth Capital analyst Krishna Shankar believes that GigOptix's "transformative acquisition" of Magnum Semiconductor positions the new company, renamed GigPeak, to emerge as a key provider of semiconductor system-on-chip and software platforms for efficient, high quality streaming of data and video. Shankar reiterates a Buy rating and raised his price target on GigOptix's shares to $7 from $5.
03/09/16
LTCO
03/09/16
INITIATION
Target $3.2
LTCO
Buy
GigOptix initiated with a Buy at Ladenburg
Target $3.20.
RECN Resources Connection
$13.06

-0.04 (-0.31%)

10/06/16
BARD
10/06/16
DOWNGRADE
Target $14
BARD
Neutral
Resources Connection downgraded to Neutral from Outperform at Baird
Baird analyst Mark Marcon downgraded Resources Connection to Neutral and lowered its price target to $14 from $16 to reflect the mixed Q1 report and implied guidance that was below expectations.
08/17/16
DBAB
08/17/16
INITIATION
Target $13
DBAB
Sell
Resources Connection initiated with a Sell at Deutsche Bank
Target $13.
04/08/16
BARD
04/08/16
NO CHANGE
Target $16
BARD
Outperform
Resources Connection weakness would be buying opportunity, says Baird
Baird expects Resources Connection to pull back moderately following mixed Q3 results, but the firm said any material pullback would be a buying opportunity. The firm reduced its estimates and its price target to reflect lower spending by financial services and a slower start to IFRS revenue recognition project work. Baird lowered its price target to $16 from $18 on Resources Connection shares but maintains an Outperform rating.
CXW CoreCivic
$14.35

0.13 (0.91%)

10/12/16
RHCO
10/12/16
UPGRADE
Target $20
RHCO
Buy
Corrections Corp. upgraded to Buy at SunTrust
As previously reported, SunTrust analyst Tobey Sommer upgraded Corrections Corp. to Buy from Neutral, as he believes that following the last two months of "uniformly negative news" that some positive news flow will begin to be mixed in again. Additionally, Sommer believes the company can continue to make a double-digit dividend payout. Even assuming that out-of-state business with CA goes to zero due to Prop 57 and that its BOP business approaches zero by 2019, Sommer has a $20 price target on the stock.
09/28/16
ADAM
09/28/16
NO CHANGE
Target $21
ADAM
Hold
Corrections Corp still challenged, but restructuring a good step, says Canaccord
Canaccord analyst Ryan Meliker believes the restructuring plans announced by Corrections Corp. of America (CXW) are a good first step to "build a cushion in cash flows and dividend coverage," though he sees a number of potential challenges that may further pressure the company. In addition to sentencing reform and contract headlines, Meliker notes the EBITDA risk posed by the renegotiation of CCA's South Texas Family Residential facility contract. The analyst keeps a Hold rating and $21 price target on CCA shares and said he continues to prefer Geo Group (GEO), on which he has a Buy rating, in the prison REIT space.
09/01/16
RHCO
09/01/16
NO CHANGE
RHCO
Geo Group, Corrections Corp. price targets lowered at SunTrust
SunTrust analyst Tobey Summer lowered his price target on Geo Group (GEO) to $32 from $38 and cut his price target on Corrections Corp (CXW) to $20 from $34. The analyst says that the companies' Bureau of Prisons business is "at risk over five years." However, he thinks that the companies' ICE and U.S. Marshals business is "substantially more secure." The analyst keeps a Buy rating on Geo and a Neutral rating on Corrections Corp.
10/12/16
RHCO
10/12/16
UPGRADE
RHCO
Buy
Corrections Corp. upgraded to Buy from Neutral at SunTrust
DEPO Depomed
$23.83

-0.26 (-1.08%)

10/04/16
MZHO
10/04/16
DOWNGRADE
MZHO
Neutral
Depomed downgraded to Neutral from Buy at Mizuho
Mizuho analyst Irina Koffler downgraded Depomed with a Buy due to valuation with a $27 price target on shares.
09/16/16
NORL
09/16/16
NO CHANGE
Target $30
NORL
Depomed price target raised to $30 to reflect takeover value at Northland
Northland raised Depomed's price target to $30 from $25 to reflect the reported $32 per share takeover value discounted by 6%. The firm's analyst said a company sale mandate could take place following issuance of a decision in Nucynta family patent litigation with a Federal District Court judge set to rule by end of September.
07/07/16
07/07/16
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. AT&T (T) downgraded to Neutral from Buy at Citi with analyst Michael Rollins citing valuation. 2. First Solar (FSLR) downgraded to Hold from Buy at Deutsche Bank with analyst Vishal Shah saying he sees downside risk to the company's 2017 earnings. 3. Depomed (DEPO) downgraded to Neutral from Buy at UBS with analyst Ami Fadia saying the company's sales guidance is at risk. 4. Red Hat (RHT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Keith Weiss saying mid-teens billings growth with flat to down margins limits upside to free-cash-flow projections and said valuation is fair to his $80 price target. 5. Bank of America (BAC) and Wells Fargo (WFC) downgraded to Market Perform from Outperform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/27/16
PIPR
07/27/16
DOWNGRADE
Target $18
PIPR
Neutral
Depomed downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst David Amsellem downgraded Depomed to Neutral citing "weak" prescription volume trends for secondary top-line drivers, particularly Gralise and Zipsor. Further, Nucynta trends continue to point to peak sales closer to $500M, below management's target of around $1B, the analyst contends. Amsellem lowered his price target for Depomed to $18 from $21.
BMI Badger Meter
$33.01

-0.05 (-0.15%)

04/20/16
BARD
04/20/16
DOWNGRADE
Target $70
BARD
Neutral
Badger Meter downgraded to Neutral at Baird
As reported previously, Baird downgraded Badger Meter to Neutral from Outperform. The firm cited valuation, as they see the stock's upside as balanced with risks. Baird raised its price target to $70 from $67 on Badger Meter shares.
04/20/16
BARD
04/20/16
DOWNGRADE
BARD
Neutral
Badger Meter downgraded to Neutral from Outperform at Baird
04/12/16
SIDC
04/12/16
INITIATION
Target $70
SIDC
Neutral
Badger Meter initiated with a Neutral at Sidoti
Target $70.
05/05/16
LTCO
05/05/16
UPGRADE
LTCO
Neutral
Badger Meter upgraded to Neutral from Sell at Ladenburg
Ladenburg upgraded Badger Meter to Neutral after the company confirmed that it is exploring options to enhance shareholder value.
IBM IBM
$154.77

0.32 (0.21%)

09/26/16
SOCG
09/26/16
UPGRADE
SOCG
Hold
IBM upgraded to Hold from Sell at Societe Generale
09/23/16
OPCO
09/23/16
NO CHANGE
OPCO
Outperform
Speculation suggests Imperva takeover in 'near sight,' says Oppenheimer
Oppenheimer analyst Shaul Eyal is not surprised to see the list of potential Imperva (IMPV) buyer candidates mentioned in an article from Bloomberg, which includes Cisco (CSCO), IBM (IBM), Fortinet (FTNT), Akamai (AKAM), and privately held Forcepoint. The analyst envisions Imperva's product line aligning particularly well with Cisco's and IBM's given the recent drive by both to expand their security offerings. Eyal sees a potential price target ranging between $55-$60 if the speculation has any merit and sufficient interest from multiple bidders. Oppenheimer has an Outperform rating on Imperva's shares.
09/06/16
EVER
09/06/16
UPGRADE
Target $45
EVER
Buy
Intel upgraded to Buy from Hold at Evercore ISI
Evercore ISI analyst C.J. Muse upgraded Intel (INTC) to Buy and raised his price target for the shares to $45 from $38. The chipmaker closed Friday up 6c to $36.08. Fears of a slowdown in its Server business and sustained weakness in PCs have led Intel shares to underperform peers thus far in 2016, Muse tells investors in a research note. The analyst expects the underperformance to change as the company's Data Center Group segment accelerates to 10%+plus growth in the second half of 2016. Further, Muse thinks Intel's "competitive moat remains" despite potential competition from ARM Holdings (ARMH) and IBM's (IBM) Power9 architecture. He sees 25% upside in Intel shares from current levels.
08/16/16
08/16/16
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. IBM (IBM) initiated with a Perform at Oppenheimer. 2. GrubHub (GRUB) initiated with a Hold at Jefferies. 3. Broadwind Energy (BWEN) initiated with an Outperform at Cowen. 4. TPI Composites (TPIC) initiated with an Overweight at JPMorgan, with an Outperform at Cowen, with a Buy at Canaccord, with an Overweight at Morgan Stanley, and with an Outperform at Raymond James. 5. Tableau (DATA) initiated with an Outperform at Oppenheimer. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
NKTR Nektar
$15.67

-0.22 (-1.38%)

08/04/16
BMUR
08/04/16
NO CHANGE
Target $18
BMUR
Buy
Nektar has promising pipeline, says Brean Capital
Brean Capital raised its price target on Nektar Therapeutics to $18 from $16 citing the company's successful launch of Movantik and other drugs as well as the promise of its pipeline of drugs. Brean Capital reiterated its Buy rating on Nektar shares.
09/30/16
PIPR
09/30/16
NO CHANGE
Target $25
PIPR
Overweight
Piper's Schimmer found Nektar validation at Celgene event
Piper Jaffray analyst Joshua Schimmer says Celgene's (CELG) analyst event provided "another indirect validation" of Nektar Therapeutics' (NKTR) oncology approach. Celgene surprisingly implicated IL-2 as one of the primary mechanisms of Revlimid, Schimmer tells investors in a research note. He views the development as supporting his "enthusiastic outlook" for NKTR-214, the company's long-acting IL-2 targeting Teffector cells. The analyst reiterates an Overweight rating on Nektar with a $25 price target.
09/30/16
BMUR
09/30/16
INITIATION
Target $23
BMUR
Buy
Nektar assumed with a Buy at Brean Capital
Brean Capital analyst Difei Yang assumed coverage of Nektar Therapeutics with a Buy rating and raised her price target for the shares to $23 from $18. The company has built an "extensive pipeline" from licensing and partnership deals, Yang tells investors in a research note.
09/28/16
ROTH
09/28/16
NO CHANGE
Target $23
ROTH
Buy
Nektar price target raised to $23 from $19 at Roth Capital
Roth Capital analyst Michael Higgins raised his price target for Nektar (NKTR) to $23 from $19 after the company and Bristol-Myers (BMY) announced a clinical collaboration to evaluate the combination of the latter's anti-PD-1 antibody, Opdivo, with NKTR-214. The analyst reiterates a Buy rating on Nektar's shares.
V Visa
$82.15

-0.3 (-0.36%)

10/17/16
DBAB
10/17/16
NO CHANGE
Target $103
DBAB
Buy
Deutsche ups price targets for Visa, MasterCard
Deutsche Bank analyst Bryan Keane expects accelerating growth to drive higher valuation multiples for the Payment Networks. The analyst raised his price target for Visa (V) to $103 from $87 and for MasterCard (MA) to $124 from $104. Keane keeps Buy ratings on both stocks.
10/17/16
PACS
10/17/16
NO CHANGE
PACS
Visa should be bought at current levels, says Pacific Crest
Pacific Crest analyst Josh Beck says that the end of Visa's fiscal 2016 should be "strong," highlighted by rock-solid Visa Europe execution and Costco strength." The analyst thinks that the stock "has real breakout potential." He keeps a $92 price target and Overweight rating on the shares.
10/05/16
BERN
10/05/16
NO CHANGE
BERN
Market Perform
Bernstein lays out six possible strategic outcomes for PayPal
After hosting a call to discuss PayPal's (PYPL) strategic options following its recently announced deals with Visa (V) and MasterCard (MA), Bernstein analyst Lisa Ellis laid out the potential strategic outcomes for PayPal that she foresees. In order from most to least likely: the most likely outcome PayPal's business model remains but that it shifts to debit centric vs. ACH; it is less likely, but a risk, that PayPal becomes a merchant acquirer; even less likely is that PayPal becomes a closed-loop. The chance that PayPal is acquired is "unlikely but less so" after the deals with the card majors, Ellis added. Lastly, she sees a "low probability" PayPal withers away or that it morphs into something else via acquisition. The firm has a Market Perform rating on PayPal shares.
10/03/16
BARD
10/03/16
NO CHANGE
Target $175
BARD
Outperform
Costco could see sluggish September comps, says Baird
Baird analyst Peter Benedict previewed September sales for Costco (COST). He believes comps could be sluggish as they are going against difficult comparisons. Looking ahead, however, he sees better traffic and sales as comparisons start to ease and members increasingly recognize the benefits of the new co-branded Visa (V) card. Benedict reiterated his Outperform rating and $175 price target on Costco shares.
JNJ Johnson & Johnson
$118.49

0.93 (0.79%)

09/19/16
LEER
09/19/16
NO CHANGE
LEER
Abbott, Johnson & Johnson transaction positive for both companies, says Leerink
Leerink analyst Danielle Antalffy says the sale of Abbott's (ABT) Medical Optics ophthalmology business to Johnson & Johnson (JNJ) is positive for both companies. The deal strengthens Abbott's balance sheet and eliminates the need for a previously expected $3B capital raise, and adds a key component to Johnson & Johnson's already-strong vision care franchise, the analyst notes.
10/07/16
RBCM
10/07/16
NO CHANGE
RBCM
Johnson & Johnson weakness creates buying opportunity, says RBC Capital
RBC Capital analyst Glenn Novarro says that Johnson & Johnson underperformed the market in Q3 due to a number of factors including Remicade biosimilar risk and the pharma pricing debate. The analyst says that "these concerns are manageable/overblown," and he expects the company to report strong Q3 results, driven by a strong pharma performance. Novoroo expects the company's Q3 revenue to come in slightly above expectations, and he predicts that the company will narrow its 2016 EPS guidance to the high end of the previous range. The analyst recommends buying the stock. He keeps a $133 price target and Outperform rating on the shares.
09/19/16
JEFF
09/19/16
NO CHANGE
Target $48
JEFF
Buy
Abbott unit sale does not impact Alere transaction, says Jefferies
Jefferies analyst Jeffrey Holford believes Abbott's (ABT) sale of its Medical Optics business to Johnson & Johnson (JNJ) does not imply an increased probability that the Alere (ALR) deal will close. After speaking to Abbott management, Holford thinks the proceeds from the sale are more likely to be targeted towards the St. Jude Medical (STJ) acquisition. He believes that deal has a higher probability of closing than Alere. Holford has a Buy rating on Abbott with a $48 price target.
08/24/16
JEFF
08/24/16
NO CHANGE
Target $210
JEFF
Buy
Cooper Companies estimates raised at Jefferies after doctor survey
Jefferies analyst Anthony Petrone reports that the firm's survey of 52 new optometry practices suggest continued gains in dailies and stable share in monthlies for Cooper Companies (COO) and that Johnson & Johnson's (JNJ) Acuvue Vita is off to slow start. Based on the survey results, and a "significant" foreign exchange tailwind, Petrone raised his estimates for Cooper and increased his price target on the shares to $210 from $190. The firm has a Buy rating on Cooper shares.
PFE Pfizer
$32.50

-0.16 (-0.49%)

09/14/16
BMOC
09/14/16
NO CHANGE
BMOC
Pfizer should exceed fiscal 2016 guidance, says BMO Capital
BMO Capital analyst Alex Arfaei says that Pfizer should exceed its fiscal 2016 guidance. The analyst says that Medivation, which Pfizer agreed to acquire, gives Pfizer another growth driver. Additionally, Pfizer has a number of other "high margin specialty drugs," according to the analyst. He says that the stock's dividend yield is "attractive," and he keeps a $40 price target and Outperform rating on the shares.
10/07/16
ROTH
10/07/16
NO CHANGE
Target $160
ROTH
Buy
ICU Medical price target raised to $160 from $132 at Roth Capital
Roth Capital analyst Chris Lewis raised his price target for ICU Medical (ICUI) to $160 from $132 after the company announced an agreement to acquire Hospira Infusion Systems from Pfizer (PFE) for $1B. The analyst is overall positive on the deal as it removes the long-standing customer concentration overhang and grows ICU Medical into a legitimate pure-play infusion therapy company with a complete product portfolio. The company also preannounced Q3 preliminary results above expectations, he notes. Lewis reiterates a Buy rating on ICU Medical's shares.
10/13/16
JEFF
10/13/16
DOWNGRADE
Target $36
JEFF
Hold
Pfizer downgraded to Hold from Buy at Jefferies
Jefferies analyst Jeffrey Holford downgraded Pfizer (PFE) to Hold citing a lack of positive catalysts. The analyst says the drivers for his upgrade to Buy have either played out or have not materialized, namely an inversion or GEP unit separation. To reflect the infusion business disposal and weaker Ibrance trends, Holford cut his mid-term earnings estimates for Pfizer by up to 7% and cut his price target for the shares to $36 from $39. The stock closed yesterday down 6c to $33.07. The analyst also sees increased risk of a major acquisition occurring over the next 12 months. In the global pharma space, Holford lists AbbVie (ABBV), Eli Lilly (LLY), Novartis (NVS) and AstraZeneca (AZN) as his top picks.
10/13/16
10/13/16
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. Bristol-Myers (BMY) downgraded to Buy from Conviction Buy at Goldman with analyst Jami Rubin saying disappointing CM-26 data adds a greater level of uncertainty to future trials. 2. Pfizer (PFE) downgraded to Hold from Buy at Jefferies with analyst Jeffrey Holford citing a lack of positive catalysts. 3. Coach (COH) downgraded to Mixed from Positive at OTR Global citing checks that indicate less competitive offerings, reduced promotions, and feedback of some share loss by store managers. 4. E-Trade (ETFC) downgraded to Neutral from Buy at BofA/Merrill. 5. Deckers Brands (DECK) downgraded to Negative from Neutral at Susquehanna with analyst Sam Poser saying he believes the health of the UGG brand is clearly at risk as the company has already started promotional activity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CELG

Celgene

$117.63

-1.24 (-1.04%)

22:25
12/04/16
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22:25
Conference/Events
Celgene to hold an analyst and investor event »

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AAPL

Apple

$109.90

0.41 (0.37%)

, ALNY

Alnylam

$41.57

-0.01 (-0.02%)

21:48
12/04/16
12/04
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On The Fly: Top five weekend stock stories »

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AAPL

Apple

$109.90

0.41 (0.37%)

ALNY

Alnylam

$41.57

-0.01 (-0.02%)

BLCM

Bellicum Pharmaceuticals

$18.72

1.74 (10.25%)

SGEN

Seattle Genetics

$66.70

-0.01 (-0.01%)

CELG

Celgene

$117.63

-1.24 (-1.04%)

UTX

United Technologies

$108.22

0.74 (0.69%)

RXN

Rexnord

$20.27

-0.72 (-3.43%)

ETP

Energy Transfer Partners

$34.38

1.16 (3.49%)

EVC

Entravision

TJX

TJX

$77.10

-0.57 (-0.73%)

FL

Foot Locker

$74.23

0.55 (0.75%)

DE

Deere

$101.50

-1.2 (-1.17%)

ARCH

Arch Coal

$79.32

1.6 (2.06%)

ELY

Callaway Golf

$11.68

-0.3 (-2.50%)

GME

GameStop

$24.27

-0.37 (-1.50%)

AEO

American Eagle

$16.17

-0.57 (-3.41%)

JCP

J.C. Penney

$9.81

0.28 (2.94%)

GOOG

Alphabet

$750.50

2.58 (0.34%)

GOOGL

Alphabet Class A

$764.46

0.13 (0.02%)

MRK

Merck

$61.13

0.37 (0.61%)

DIS

Disney

$98.50

-0.44 (-0.44%)

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  • 08

    Mar

  • 13

    Mar

TRIP

TripAdvisor

$46.46

-0.7 (-1.48%)

21:40
12/04/16
12/04
21:40
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21:40
Upgrade
TripAdvisor rating change  »

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CTXS

Citrix

$85.62

0.15 (0.18%)

21:40
12/04/16
12/04
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21:40
Upgrade
Citrix rating change  »

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XOM

Exxon Mobil

$87.04

-0.2 (-0.23%)

21:12
12/04/16
12/04
21:12
12/04/16
21:12
Periodicals
Trump widens Secretary of State search, will interview Exxon Mobil CEO, WSJ says »

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  • 05

    Dec

NVS

Novartis

$68.17

0.42 (0.62%)

, JNJ

Johnson & Johnson

$111.96

0.58 (0.52%)

21:08
12/04/16
12/04
21:08
12/04/16
21:08
Periodicals
Novartis CEO downplays possibility of Actelion bid, Reuters says »

Asked whether Novartis…

NVS

Novartis

$68.17

0.42 (0.62%)

JNJ

Johnson & Johnson

$111.96

0.58 (0.52%)

ALIOF

Actelion

$206.01

15.21 (7.97%)

03/08/13
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  • 06

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PCRFY

Panasonic

$10.58

0.19 (1.83%)

21:05
12/04/16
12/04
21:05
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21:05
Periodicals
Panasonic eyes European headlight maker ZKW, Nikkei says »

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AAPL

Apple

$109.90

0.41 (0.37%)

21:03
12/04/16
12/04
21:03
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21:03
Hot Stocks
Apple comments on U.S. autonomous cars policy, says 'excited' about potential »

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ETP

Energy Transfer Partners

$34.38

1.16 (3.49%)

20:46
12/04/16
12/04
20:46
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20:46
Hot Stocks
Army says will not grant easement for Dakota Access Pipeline »

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INCY

Incyte

$102.02

2.09 (2.09%)

, PFE

Pfizer

$31.63

0.17 (0.54%)

20:25
12/04/16
12/04
20:25
12/04/16
20:25
Conference/Events
Canaccord biotech analyst to hold a dinner meeting »

In conjunction with the…

INCY

Incyte

$102.02

2.09 (2.09%)

PFE

Pfizer

$31.63

0.17 (0.54%)

LLY

Eli Lilly

$67.71

1.74 (2.64%)

03/08/13
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AGIO

Agios Pharmaceuticals

$56.97

-1.09 (-1.88%)

20:11
12/04/16
12/04
20:11
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20:11
Hot Stocks
Agios Pharmaceuticals reports data on AG-348, AG-519 »

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  • 04

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KPTI

Karyopharm

$9.28

0.25 (2.77%)

19:59
12/04/16
12/04
19:59
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19:59
Hot Stocks
Karyopharm reports updated Phase 2b STORM data »

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  • 05

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JNJ

Johnson & Johnson

$111.96

0.58 (0.52%)

, ABBV

AbbVie

$59.43

0.27 (0.46%)

19:56
12/04/16
12/04
19:56
12/04/16
19:56
Hot Stocks
AbbVie reports data from two IMBRUVICA combination studies »

AbbVie (ABBV) announced…

JNJ

Johnson & Johnson

$111.96

0.58 (0.52%)

ABBV

AbbVie

$59.43

0.27 (0.46%)

03/08/13
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BPMC

Blueprint Medicines

$27.01

-0.99 (-3.54%)

19:50
12/04/16
12/04
19:50
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19:50
Hot Stocks
Blueprint Medicines reports Phase 1 BLU-285 data »

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  • 05

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INCY

Incyte

$102.02

2.09 (2.09%)

19:45
12/04/16
12/04
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19:45
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Incyte reports pooled analysis of five-year Jakafi data »

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  • 04

    Dec

GPRO

GoPro

$9.70

-0.12 (-1.22%)

19:42
12/04/16
12/04
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19:42
Hot Stocks
GoPro releases $299 'Karma Grip' camera stabilizer »

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KPTI

Karyopharm

$9.28

0.25 (2.77%)

19:37
12/04/16
12/04
19:37
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19:37
Hot Stocks
Karyopharm reports data from Phase 2 SAIL study »

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  • 05

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CELG

Celgene

$117.63

-1.24 (-1.04%)

19:32
12/04/16
12/04
19:32
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19:32
Hot Stocks
Acetylon reports preclinical ACY-957 data »

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GBT

Global Blood Therapeutics

$19.10

-0.1 (-0.52%)

19:30
12/04/16
12/04
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19:30
Hot Stocks
Global Blood Therapeutics reports Phase 1/2 GBT440 data »

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CELG

Celgene

$117.63

-1.24 (-1.04%)

19:27
12/04/16
12/04
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19:27
Hot Stocks
Acetylon reports initial Phase 1a/b data for citarinostat in myeloma »

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XLRN

Acceleron

$36.29

1.25 (3.57%)

, CELG

Celgene

$117.63

-1.24 (-1.04%)

19:23
12/04/16
12/04
19:23
12/04/16
19:23
Hot Stocks
Acceleron, Celgene report updated data from Phase 2 luspatercept studies »

Acceleron Pharma (XLRN)…

XLRN

Acceleron

$36.29

1.25 (3.57%)

CELG

Celgene

$117.63

-1.24 (-1.04%)

03/08/13
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ALNY

Alnylam

$41.57

-0.01 (-0.02%)

19:05
12/04/16
12/04
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19:05
Hot Stocks
Alnylam reports Phase 2 data on fitusiran in hemophilia »

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ALXN

Alexion

$122.96

0.95 (0.78%)

19:01
12/04/16
12/04
19:01
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19:01
Hot Stocks
Alexion reports data from Phase 1/2 ALXN1210 study »

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LYV

Live Nation

$27.07

-0.44 (-1.60%)

18:58
12/04/16
12/04
18:58
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18:58
Hot Stocks
Live Nation acquires 51% stake in Australia's Secret Sounds Group »

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NVS

Novartis

$68.17

0.42 (0.62%)

18:45
12/04/16
12/04
18:45
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18:45
Hot Stocks
Novartis reports Phase 2 data on CTL019 in leukemia »

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