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COST

Costco

$148.70

-1.45 (-0.97%)

, LVLT

Level 3

$47.07

0.98 (2.13%)

10:42
10/18/16
10/18
10:42
10/18/16
10:42

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Costco (COST) initiated with a Market Perform at Wells Fargo. 2. Level 3 (LVLT) initiated with an Overweight at Barclays. 3. AC Immune (ACIU) initiated with a Buy at Jefferies, an Outperform at Credit Suisse, and an Outperform at Leerink. 4. Apptio (APTI) initiated with a Neutral at Goldman, a Buy at Jefferies, an Equal Weight at Barclays, a Neutral at JPMorgan, a Buy at BofA/Merrill, an Overweight at Pacific Crest, and a Sector Perform at RBC Capital. 5. Adient (ADNT) initiated with an Outperform at Baird, a Neutral at Buckingham, and a Buy at Seaport Global. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

COST

Costco

$148.70

-1.45 (-0.97%)

LVLT

Level 3

$47.07

0.98 (2.13%)

ACIU

AC Immune

$14.43

0.47 (3.37%)

APTI

Apptio

$20.52

-0.19 (-0.92%)

ADNT

Adient

  • 18

    Oct

  • 02

    Nov

  • 03

    Nov

COST Costco
$148.70

-1.45 (-0.97%)

09/23/16
BARD
09/23/16
NO CHANGE
Target $175
BARD
Outperform
Costco weakness a buying opportunity, says Baird
Baird analyst Peter Benedict recommends buying Costco (COST) on its pullback as he believes the shares offer a compelling value proposition. The analyst also sees Costco as having a loyal membership model that remains a positive in today's challenging retail world. Benedict sees better traffic/sales later this year as comps ease and members recognize the benefits of the new co-branded Visa (V) card. He reiterated his Outperform rating and $175 price target on Costco shares.
10/18/16
WELS
10/18/16
INITIATION
WELS
Market Perform
Costco initiated at Wells Fargo
As noted earlier, Wells Fargo analyst Zachary Fadem initiated Costco with a $150-$155 price target and a Market Perform rating. Fadem thinks that the stock's long-term outlook is positive, but he advises waiting for a better entry point on the shares, all else being equal.
10/18/16
WELS
10/18/16
INITIATION
WELS
Market Perform
Costco initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Zachary Fadem started Costco Wholesale with a Market Perform rating and $150-$155 price target range.
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.
LVLT Level 3
$47.07

0.98 (2.13%)

10/13/16
GSCO
10/13/16
DOWNGRADE
Target $55
GSCO
Buy
Level 3 downgraded to Buy from Conviction Buy at Goldman
Goldman analyst Brett Feldman removed Level 3 from the Conviction Buy List and lowered its price target to $55 from $64 on a reduced outlook for revenue growth and a lower target multiple. The analyst maintains a Buy rating and said the recent pullback in Level 3 shares increases the appeal of buybacks and, theoretically, the company could repurchase 60% of its stock over 5 years.
10/14/16
JPMS
10/14/16
UPGRADE
Target $55
JPMS
Overweight
Level 3 upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick upgraded Level 3 Communications to Overweight saying expectations have been lowered along with the share price. Further, he believes a capital return announcement in the form of a stock buyback could come either on the Q3 or Q4 earnings calls. The analyst lowered his price target for Level 3 to $55 from $60 and keeps an Overweight rating on the shares.
10/14/16
10/14/16
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. ConAgra (CAG) upgraded to Outperform from Sector Perform at RBC Capital with analyst David Palmer citing valuation. 2. Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray after the firm's semi-annual proprietary "Taking Stock With Teens" survey. 3. Domino's Pizza (DPZ) upgraded to Buy from Underperform at BofA/Merrill with analyst Gregory Francfort saying he believes Domino's has further growth ahead and will take share in the fragmented $34B U.S. pizza category. 4. TSMC (TSM) upgraded to Sector Weight from Underweight at Pacific Crest with analyst Michael McConnell citing a more favorable margin outlook and share gains at the 10 nm node. 5. Level 3 (LVLT) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying expectations have been lowered along with the share price. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/18/16
LEHM
10/18/16
INITIATION
Target $54
LEHM
Overweight
Level 3 initiated with an Overweight at Barclays
Barclays analyst Amir Rozwadowski started Level 3 Communications with an Overweight rating and $54 price target. Value accretive actions by management should provide support for investors amid near-term challenges, Rozwadowski tells investors in a research note.
ACIU AC Immune
$14.43

0.47 (3.37%)

10/18/16
LEER
10/18/16
INITIATION
Target $22
LEER
Outperform
AC Immune initiated with an Outperform at Leerink
Leerink analyst Paul Matteis started AC Immune with an Outperform rating and $22 price target, citing its expanding basket of high risk/high reward Alzheimer's Disease opportunities.
10/18/16
FBCO
10/18/16
INITIATION
Target $18
FBCO
Outperform
AC Immune initiated with an Outperform at Credit Suisse
Credit Suisse analyst Alethia Young initiated AC Immune with an Outperform and a $18 price target due to the opportunity for lead asset, crenezumab primarily for Alzheimer's Disease, in Phase 3 in partnership with Roche.
10/18/16
JEFF
10/18/16
INITIATION
Target $25
JEFF
Buy
AC Immune initiated with a Buy at Jefferies
Jefferies analyst Peter Welford started AC Immune with a Buy rating and $25 price target. The company may have the broadest Alzheimer's pipeline in biotech, Welford tells investors in a research note.
APTI Apptio
$20.52

-0.19 (-0.92%)

10/18/16
JPMS
10/18/16
INITIATION
Target $23
JPMS
Neutral
Apptio initiated with a Neutral at JPMorgan
JPMorgan analyst Mark Murphy started Apptio with a Neutral rating and $23 price target.
10/18/16
BOFA
10/18/16
INITIATION
Target $26
BOFA
Buy
Apptio initiated with a Buy at BofA/Merrill
BofA/Merrill initiated Apptio with a Buy and a $26 price target.
10/18/16
PACS
10/18/16
INITIATION
Target $26
PACS
Overweight
Apptio initiated with an Overweight at Pacific Crest
Pacific Crest analyst Rob Owens started Apptio with an Overweight rating and $26 price target. The company could post 20%-plus growth for "many years to come," Owens tells investors in a research note.
10/18/16
RBCM
10/18/16
INITIATION
RBCM
Sector Perform
Apptio initiated with a Sector Perform at RBC Capital
RBc Capital analyst Ross MacMillan started coverage of Apptio with a Market Perform rating, saying that its risk/reward ratio is "balanced." The analyst says he would be more upbeat on the company's longer term outlook if its unit economics improve. Target $23.
ADNT Adient

10/18/16
GHSC
10/18/16
INITIATION
Target $60
GHSC
Buy
Adient initiated with a Buy at Seaport Global
Seaport Global initiated Adient with a Buy and a $60 price target.
10/17/16
LYON
10/17/16
INITIATION
Target $50
LYON
Adient coverage initiated with a $50 price target at CLSA
CLSA analyst Emmanuel Rosner initiated Adient with no rating and a $50 price target ahead of when-issued trading on 17 October and regular way on 31 October.
10/18/16
BUCK
10/18/16
INITIATION
Target $53
BUCK
Neutral
Adient initiated with a Neutral at Buckingham
Buckingham initiated Adient with a Neutral and a $53 price target due to the lack of revenue growth and increasing macro concerns.
10/18/16
BARD
10/18/16
INITIATION
Target $65
BARD
Outperform
Adient initiated with an Outperform at Baird
Baird analyst David Leiker initiated Adient with an Outperform rating and $65 price target. The analyst cited three drivers of earnings growth including margin improvement and China joint ventures, debt reduction, and strong new bookings supporting organic revenue growth.

TODAY'S FREE FLY STORIES

SNES

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TROX

Tronox

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RTIX

RTI Surgical

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IDSY

I.D. Systems

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Conference/Events
House Financial Services Committee to hold a hearing »

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DL

China Distance Education

$12.34

0.62 (5.29%)

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DUK

Duke Energy

$74.67

0.81 (1.10%)

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VMI

Valmont

$154.30

4.45 (2.97%)

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REXR

Rexford Industrial

$22.41

0.41 (1.86%)

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LULU

lululemon

$59.84

2.6 (4.54%)

, HZNP

Horizon Pharma

$19.39

-0.82 (-4.06%)

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LULU

lululemon

$59.84

2.6 (4.54%)

HZNP

Horizon Pharma

$19.39

-0.82 (-4.06%)

AMD

AMD

$9.56

0.11 (1.16%)

TLRD

Tailored Brands

$18.93

0.62 (3.39%)

CTRV

ContraVir Pharmaceuticals

$1.99

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AVXL

Anavex

$3.73

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HRB

H&R Block

$23.34

0.65 (2.86%)

VYGR

Voyager Therapeutics

$13.73

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CMTL

Comtech

$12.75

0.77 (6.43%)

VRNT

Verint

$38.30

0.1 (0.26%)

VNCE

Vince Holding

$4.55

0.35 (8.33%)

CASY

Casey's General Stores

$124.22

1.14 (0.93%)

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F

Ford

$13.06

0.5 (3.98%)

, BAC

Bank of America

$22.57

0.41 (1.85%)

08:55
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Options
Notable open interest changes for December 8th »

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F

Ford

$13.06

0.5 (3.98%)

BAC

Bank of America

$22.57

0.41 (1.85%)

AAPL

Apple

$111.03

1.08 (0.98%)

WFC

Wells Fargo

$57.28

1.73 (3.11%)

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  • 08

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BHI

Baker Hughes

$66.14

-0.75 (-1.12%)

08:55
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CIEN

Ciena

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Ciena

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AAPL

Apple

$111.03

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DRAM

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JCAP

Jernigan Capital

$20.21

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$DJT

DJ Transportation Average

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SHIP

Seanergy Marine

$2.20

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$DJU

DJ Utility Average

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RDUS

Radius Health

$53.50

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  • 08

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