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YHOO

Yahoo

$41.68

-0.11 (-0.26%)

, VZ

Verizon

$50.50

0.23 (0.46%)

12:43
10/19/16
10/19
12:43
10/19/16
12:43

Piper's Munster says Verizon likely 'posturing' with talk about Yahoo deal

Piper Jaffray analyst Gene Munster called Yahoo's (YHOO) Q3 earnings report a "non-event," saying that the biggest question for the company right now remains the impact of its data breach on its agreement with Verizon (VZ). Media reports suggesting Verizon could use the breach to break the deal are likely "posturing" and a public negotiating tactic to try to get a lower price, said Munster, who adds that downside seems "somewhat limited" given the deal size. Munster, who noted that every $1B adjustment to the deal would represent about $1 to the stock, keeps an Overweight rating on Yahoo shares, citing the upside potential presented by its stake in Alibaba (BABA).

YHOO

Yahoo

$41.68

-0.11 (-0.26%)

VZ

Verizon

$50.50

0.23 (0.46%)

BABA

Alibaba

$103.83

0.49 (0.47%)

  • 20

    Oct

  • 02

    Nov

  • 07

    Nov

  • 24

    Jan

YHOO Yahoo
$41.68

-0.11 (-0.26%)

10/19/16
SUSQ
10/19/16
NO CHANGE
Target $48
SUSQ
Positive
Yahoo price target raised to $48 from $44 at Susquehanna
Susquehanna analyst Shyam Patil raised his price target on Yahoo (YHOO) to $48 from $44 following Q3 results. The analyst said the company tried to provide traffic metrics to show that the recent security breach did not effect search numbers. In addition, the analyst feels the market is pricing in a larger valuation cut than what would possibly occur if Verizon (VZ) was able to make a case to lower its takeover price. Patil reiterated his Positive rating on Yahoo shares.
10/18/16
10/18/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: Yahoo (YHOO) downgraded to Hold from Buy at Needham with analyst Laura Martin saying shares now trade above her previous $40 price target. 2. Chipotle (CMG) downgraded to Underperform from Market Perform at Raymond James with analyst Brian Vaccaro saying he believes the lost sales, still down 15-20% after the initial E.coli incident, could prove to be permanent and reflect the "new normal," increasing downside risk in the stock. 3. Prudential (PRU) downgraded to Market Perform from Outperform at FBR Capital with analyst Randy Binner saying he's taking some risk off the table ahead of the third quarter earnings reports. 4. DDR Corp. (DDR) downgraded to Neutral from Outperform at Boenning & Scattergood with analyst Floris van Dijkum saying DDR could suffer higher than expected dilution due to asset sales like the recently closed upstate New York portfolio and said there could be more downward pressure on NAV based on further disposals. 5. Carrizo Oil & Gas (CRZO) downgraded to Neutral from Buy at Goldman analyst John Nelson citing valuation. 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
NEED
10/18/16
DOWNGRADE
NEED
Hold
Yahoo downgraded to Hold from Buy at Needham
Needham analyst Laura Martin downgraded Yahoo to Hold saying shares now trade above her previous $40 price target, she worries Verizon (VZ) will walk away or renegotiate the acquisition price lower due to the 2014 hacking event, and lowered FY16 estimates to the low end of guidance.
09/28/16
SBSH
09/28/16
NO CHANGE
SBSH
Buy
Citi hopes Disney does not acquire Twitter
Citi analyst Jason Bazinet lays out four reasons for why he doesn't like Disney (DIS) pursuing an acquisition of Twitter (TWTR). Going back 15 years, the analyst can't think of a single web-based property that was successfully acquired by a traditional media firm. Two, he calls Twitter trends "troubling." Three, Bazinet estimates a cash offer would lower Disney's stock by $5 per share while an equity offer would drop its stock by $9. Four, the analyst feels it is unclear how Disney's content will help Twitter. Bazinet thinks both Yahoo (YHOO) and Twitter lost "significant money" when they streamed NFL content over the web. The analyst hopes Twitter is acquired by somebody other than Disney. He keeps a Buy rating on Disney shares. Both Loop Capital and Mizuho this morning downgraded Twitter to sell ratings.
VZ Verizon
$50.50

0.23 (0.46%)

09/19/16
WELS
09/19/16
NO CHANGE
WELS
Concerns about Frontier Communications leverage overdone, says Wells Fargo
Wells Fargo says that some investors have expressed concern about Frontier's leverage ratio. Specifically, the firm says there are some worries that if Frontier has difficulty integrating the Verizon (VZ) assets it purchased, it may trigger bank covenants. However, Wells says that Frontier's synergy realization and subscription outlook have improved since Q2. Wells adds that the company's dividend is "very secure neat-term," and it keeps an Outperform rating on the shares.
09/23/16
BOFA
09/23/16
NO CHANGE
Target $55
BOFA
Buy
BofA thinks Verizon deal stays on track despite Yahoo data breach
Bank of America Merrill Lynch analyst Justin Post said that Yahoo's (YHOO) disclosure of the massive data breach impacting over 500M of its users is clearly a negative for the company that could result in email account closures, but he does not anticipate a major impact on Yahoo's business related to this breach, citing as evidence the fact that he is not aware of any significant business impairment or financial liability related to security breaches at LinkedIn (LNKD) in 2012 and at eBay (EBAY) in 2014. Post adds that the Target (TGT) data breach, which did include credit card info, is not directly comparable to Yahoo's breach. For Verizon (VZ) to back out of its acquisition agreement, Post thinks the company would need to assume Yahoo acted in bad faith during negotiations and that the Yahoo asset is impaired or comes with significant liability, neither of which he sees as being the case. The analyst keeps a Buy rating on Yahoo and bumped his target on the shares to $55 from $53, citing an increased price target on Alibaba (BABA) that a peer at the firm recently set.
09/23/16
RHCO
09/23/16
NO CHANGE
RHCO
Yahoo hack is probably not a material adverse change, says SunTrust
After Yahoo (YHOO) reported that over 500M of its accounts had been hacked, SunTrust analyst Robert Peck thinks that the news is probably not a material adverse change, or MAC, that would jeopardize the company's acquisition by Verizon (VZ). He notes that the sales contract says that a MAC will not be triggered by "any failure by Yahoo to meet its internal or published projections, budgets, plans, or forecasts of its revenues, earnings, or other financial performance or results of operations." The analyst says that the hack "may be manageable," since a majority of the victims could be e-mail users who are sticky. He keeps a Neutral rating on Yahoo.
BABA Alibaba
$103.83

0.49 (0.47%)

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.
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.

TODAY'S FREE FLY STORIES

WTI

W&T Offshore

$1.97

0.03 (1.55%)

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ALNY

Alnylam

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1.445 (3.54%)

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    Dec

$NYE

NYSE Market Internals

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CVO

Cenveo

$6.84

-0.16 (-2.29%)

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Breaking Hot Stocks news story on Cenveo »

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$NSD

NASDAQ Market Internals

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CLRB

Cellectar Biosciences

$1.33

-0.04 (-2.92%)

16:15
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Cellectar, INC Research enter into Work Order »

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INSW

International Seaways

$14.40

0.86 (6.35%)

16:12
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Breaking Hot Stocks news story on International Seaways »

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BFS

Saul Centers

$66.45

-0.96 (-1.42%)

16:09
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Saul Centers raises quarterly dividend 8.5% to 51c from 47c per share »

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ASNA

Ascena Retail

$8.04

-0.07 (-0.86%)

16:08
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Ascena Retail names David Jaffe chairman of the board »

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MORN

Morningstar

16:08
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Morningstar raises quarterly dividend to 23c from 22c per share »

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SAND

Sandstorm Gold

$3.83

-0.19 (-4.73%)

16:07
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16:07
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16:07
Syndicate
Breaking Syndicate news story on Sandstorm Gold »

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ACIU

AC Immune

$14.93

2.88 (23.90%)

, RHHBY

Roche

$27.86

0.78 (2.88%)

16:05
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Hot Stocks
AC Immune partner Genentech presents 'important' data on Alzheimer's therapy »

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ACIU

AC Immune

$14.93

2.88 (23.90%)

RHHBY

Roche

$27.86

0.78 (2.88%)

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MDVX

Medovex

$1.50

0.03 (2.04%)

16:03
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16:03
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Hot Stocks
Breaking Hot Stocks news story on Medovex »

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BDC

Belden

$78.79

-1.69 (-2.10%)

16:01
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Hot Stocks
Belden extends shareholder rights agreement »

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GENE

Genetic Technologies

$1.19

-0.01 (-0.83%)

15:59
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Breaking Hot Stocks news story on Genetic Technologies »

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FLO

Flowers Foods

$19.26

2.2325 (13.11%)

15:53
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HAL

Halliburton

$54.22

-0.21 (-0.39%)

15:50
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Options
Halliburton Dec 48.5 puts for a nickel per contract »

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  • 23

    Jan

BIIB

Biogen

$289.54

4.24 (1.49%)

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VLO

Valero

$67.84

-0.535 (-0.78%)

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SKLN

Skyline Medical

$2.94

-0.01 (-0.34%)

15:36
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Skyline Medical files to sell 1.925M units »

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HMNY

Helios and Matheson

$4.26

-0.08 (-1.84%)

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FLO

Flowers Foods

$19.10

2.07 (12.16%)

15:32
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Flowers Foods rating change  »

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WBA

Walgreens Boots Alliance

$84.28

-0.71 (-0.84%)

, RAD

Rite Aid

$8.20

0.045 (0.55%)

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Periodicals
Walgreens near finalizing Rite Aid divestiture package, CTFN reports »

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WBA

Walgreens Boots Alliance

$84.28

-0.71 (-0.84%)

RAD

Rite Aid

$8.20

0.045 (0.55%)

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  • 05

    Jan

BAS

Basic Energy

$0.44

-0.0039 (-0.89%)

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$NYE

NYSE Market Internals

15:16
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NYSE market internals summary »

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