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FB

Facebook

$121.47

-0.3 (-0.25%)

, AMZN

Amazon.com

$785.33

5.33 (0.68%)

12:49
11/23/16
11/23
12:49
11/23/16
12:49

Oppenheimer calls Facebook, Amazon most attractive 'FANG' members on pullback

Commenting on the post-election rotation into industrial and financial stocks at the expense of multinational technology stocks, Oppenheimer analyst Jason Helfstein told investors that he sees the valuations of the "FANG" stocks - Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOG; GOOGL) - as attractive given upcoming catalysts. Among the "FANG" names, the analyst views Facebook and Amazon as the most appealing at current levels. PULLBACK CREATES OPPORTUNITY: Oppenheimer's Helfstein noted that the Internet sector has lagged behind small-cap and industrial companies in the wake of Donald Trump's election victory. While there has been some rebalancing after the initial pullback, the analyst believes investors continue to ask questions about the President-elect's impact on net neutrality, immigration, regulation and international trade. Trading below their historical premium and with potential positive catalysts ahead, FANG valuations appear attractive after the recent selloff, Helfstein argued, adding that he sees Facebook and Amazon as the most appealing. AD MONETIZATION: The analyst pointed out that Facebook's potential positive catalysts include faster than expected ad monetization driven by its "Video First" strategy, Instagram engagement and Dynamic Product Ads. However, he noted that measurement issues are building, with increased pressure for third-party accountability, and fake news threatens engagement. STRONG HOLIDAY SEASON: As for Amazon, Helfstein told investors in a research note that he expects stable consumer spending to support a strong holiday shopping season, while stable Amazon Web Services pricing should continue to drive solid top-line growth and margin expansion, underpinned by its strong leadership, bundling strategy and partnerships. Nonetheless, the analyst pointed out that margins, driven by a longer investment cycle in Europe, India and China, and higher pricing for Google/Facebook's product ads, continue to be primary concerns. GOOGLE CATALYSTS: The analyst sees YouTube's continuing momentum, reaccelerating ad budgets post-election and increased focus on PLAs during holiday season as Alphabet's main catalysts ahead. He also noted that the company's "AI-centric" smart devices should begin to get consumer attention, while Cloud is gaining share off a small base, leveraging machine learning and artificial intelligence capabilities. Nonetheless, share loss to social video ads is a long-term overhang and incremental investment in content/ new businesses may dilute margins, he added. UPSIDE POTENTIAL FOR NETFLIX: Helfstein believes there is potential upside to his estimates for Netflix if fourth quarter international sub growth shows the same moderation as in the third quarter, while post-grandfathering domestic ARPU sets up stronger revenue in 2017. However, the analyst noted that he expects to see a stronger domestic competitive environment and tougher international comps in the first quarter. PRICE ACTION: In early afternoon trading, shares of Facebook have dropped nearly 1% to $120.45, and Amazon's stock has slipped 1% to $777.63. Meanwhile, shares of Netflix are fractionally down to $117.81, and Alphabet's class A shares have slipped a bit over 1% to $776.68.

FB

Facebook

$121.47

-0.3 (-0.25%)

AMZN

Amazon.com

$785.33

5.33 (0.68%)

NFLX

Netflix

$118.04

0.08 (0.07%)

GOOG

Alphabet

$768.27

-0.93 (-0.12%)

GOOGL

Alphabet Class A

$785.00

0.2 (0.03%)

  • 23

    Nov

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    Nov

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    Nov

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    Dec

  • 15

    Jan

FB Facebook
$121.47

-0.3 (-0.25%)

11/18/16
RBCM
11/18/16
NO CHANGE
RBCM
Internet stock weakness creates buying opportunity, says RBC Capital
EBC Capital analyst Mark Mahaney says that the 5%-10% decline in Internet stocks since the election has created more attractive long-term opportunities. The analyst does not expect the Trump Administration's policies to have a major impact on the fundamentals of the Internet sector. His favorite large-cap names in the sector are, in order, Netflix (NFLX), Facebook (FB), and Priceline (PCLN). His favorite small-cap names are, in order, Yelp (YELP), Criteo (CRTO), and GoDaddy (GDDY).
11/17/16
PIPR
11/17/16
NO CHANGE
PIPR
Piper sees Trump-related Internet selloff as 'rare opportunity'
Piper Jaffray analyst Gene Munster says he would be "buying the fear" priced into Internet mega-caps. Concerns of President-Elect Trump's impact on tech companies are being largely extrapolated from sound bites that are unlikely to manifest during Trump's presidency, Munster tells investors in a research note. The selloff in "best-in-class" large cap internet stocks Apple (AAPL), Amazon.com (AMZN), Alphabet (GOOG), Facebook (FB) and Netflix (NFLX) presents a "rare opportunity," Munster writes. He believes Trump's threats towards Amazon are without merit and that net neutrality is unlikely to be reversed. He finds the valuations for each of the mega-caps "very attractive."
11/21/16
DBAB
11/21/16
NO CHANGE
Target $150
DBAB
Buy
Deutsche says buy Facebook following recent weakness
Deutsche Bank analyst Lloyd Walmsley views Facebook's $6B share repurchase beginning in 2017 as a "welcome launch" of a capital return program. The stock represents an "outstanding value" following the recent selloff, Walmsley tells investors in a research note. He recommends that investors add to positions at current levels and keeps a Buy rating on Facebook with a $150 price target.
11/23/16
OPCO
11/23/16
NO CHANGE
OPCO
Facebook, Amazon.com most attractive on post-election pullback, says Oppenheimer
Oppenheimer analyst Jason Helfstein notes that there has been a rotation into industrial and financial stocks post-election, at the expense of multinational technology stocks. However, he sees some potential positive catalysts for "FANG" names, namely Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Google (GOOG; GOOGL), with the first two looking the most attractive at current levels. The analyst points out that Facebook's potential positive catalysts include faster than expected ad monetization driven by "Video First" strategy, Instagram engagement and Dynamic Product Ads. As for Amazon, he expects stable consumer spending to support a strong holiday shopping season.
AMZN Amazon.com
$785.33

5.33 (0.68%)

11/18/16
OPCO
11/18/16
NO CHANGE
OPCO
Public cloud infrastructure market will be $62B by 2020, says Oppenheimer
Oppenheimer analyst Timothy Horan says "the race is on" for public cloud providers to get as much of their customers' data on their respective cloud platforms as possible. The analyst believes Amazon (AMZN) Web Services, Microsoft (MSFT), and Alphabet's Google (GOOG; GOOGL) have ambitions to become the dominant OS of the cloud, and to do so these companies will aim to have integrated solutions from the infrastructure layer to services through first-party offerings and/or the development of a strong partner channel. He views AWS as the primary wholesale cloud platform and Microsoft as the enterprise platform. However, given the relative immaturity of the market and the massive $1T opportunity, all three have been successful focusing on multiple segments, Horan adds, noting that he expects the public cloud infrastructure market to be $62B by 2020.
11/21/16
SBSH
11/21/16
NO CHANGE
Target $16
SBSH
Buy
Citi fields Pandora questions after Amazon on-demand launch
Citi analyst Mark Kelley says he's received a lot of questions from investors over the last few days on the impact from potentially lower prices for Pandora's (P) on-demand offering after Amazon (AMZN) launched a competing service. Amazon's on-demand offering costs $7.99 per month for Prime users, or $3.99 if you only want to listen on your echo device. Non-Prime users must pay $9.99 per month. The launch by Amazon has caused some speculation in the press that Apple (AAPL) is going to lower its prices, Kelley tells investors in a research note. The analyst does not expect Pandora to lower the price of on-demand to $7.99 per month. Kelley still believes on-demand music is the way the industry moves forward and he remains bullish on Pandora's long-term opportunity. The analyst has a Buy rating on the shares with a $16 price target.
11/21/16
BARD
11/21/16
NO CHANGE
BARD
Outperform
Baird expects Amazon.com distribution announcement with Patterson
Following industry conversions, Baird analyst Jeff Johnson expects Patterson Companies (PDCO) to announce an Amazon.com (AMZN) distribution agreement tomorrow. What the analyst hadnt considered and is now hearing is that Amazon could fulfill orders placed through Patterson's order portal, lowering Patterson's fulfillment costs and given the company breathing room as it pursues DSO deals. Johnson rates Patterson a Neutral with a $48 price target.
NFLX Netflix
$118.04

0.08 (0.07%)

11/21/16
BMUR
11/21/16
INITIATION
Target $145
BMUR
Buy
Netflix initiated with a Buy at Brean Capital
Brean Capital analyst Alan Gould started Netflix with a Buy rating and $145 price target. The company has created an "unstoppable lead" in the internet TV business and is positioned to dominate the business long term, Gould tells investors in a research note. He believes Netflix over the next 15 years can attract 300M global subscribers and generate over $25 of earnings per share. The stock closed Friday up 18c to $115.21.
11/21/16
11/21/16
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. Netflix (NFLX) initiated with a Buy at Brean Capital. 2. Allergan (AGN) initiated with a Market Perform at William Blair. 3. Myovant Sciences (MYOV) was initiated with an Overweight at Barclays, an Outperform at JMP Securities, an Outperform at Baird, a Buy at Citi, and an Outperform at Cowen. 4. RA Pharmaceuticals (RARX) was initiated with a Buy at Jefferies, a Buy at SunTrust, and an Outperform at Credit Suisse. 5. ZTO Express (ZTO) was initiated with a Buy ratings at Citi and Goldman and an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/18/16
MACQ
11/18/16
NO CHANGE
MACQ
Netflix mentioned positively at M Science
GOOG Alphabet
$768.27

-0.93 (-0.12%)

11/11/16
LOOP
11/11/16
NO CHANGE
LOOP
Loop Capital sees U.S.-centric internet names outperforming in near-term
Following the election of Donald Trump as President and the Republican sweep in D.C., large cap internet names, those with more international revenues, and China-based companies have been underperforming, noted Loop Capital analyst Blake Harper. Larger caps, such as Alphabet (GOOG), Amazon (AMZN) and Facebook (FB), could continue to see more pressure given the potential for more restrictive trade and antitrust policies, while internet companies the large majority of their revenues from the U.S. and a narrower market focus - such as Angie's List (ANGI), Care.com (CRCM), GrubHub (GRUB), Quotient (QUOT), Bankrate (RATE), LendingTree (TREE), TrueCar (TRUE) and Yelp (YELP) - should outperform in the near-term, contends Harper.
GOOGL Alphabet Class A
$785.00

0.2 (0.03%)

11/10/16
STFL
11/10/16
UPGRADE
Target $1900
STFL
Buy
Stifel calls Priceline a dominant franchise, upgrades to Buy
Stifel analyst Scott Devitt last night upgraded Priceline (PCLN) to Buy from Hold and upped his price target for the shares to $1,900 from $1,650. The company, given its recent growth execution and ability to "navigate competitive and macro headwinds," fits alongside other dominant internet franchises such as Amazon (AMZN), Google (GOOG, GOOGL), Facebook (FB) and Alibaba BABA), Devitt tells investors in a research note.

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BWLD

Buffalo Wild Wings

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Forest City

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Digi International

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Belden reiterates $13.82 per share offer to Digi International board »

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Babcock & Wilcox

$15.99

0.46 (2.96%)

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B&W names D. Paul Scavuzzo Chief Commercial Officer »

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XPLR

Xplore Technologies

$2.31

-0.0124 (-0.53%)

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Xplore Technologies receives second rugged tablet follow-on order »

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BA

Boeing

$152.16

-0.09 (-0.06%)

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Periodicals
Trump wants to cancel Boeing Air Force One order »

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RLJ

RLJ Lodging Trust

$23.38

0.86 (3.82%)

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RLJ Lodging Trust announces sale of two hotels in NYC for $286M »

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SEIC

SEI Investments

$48.16

1.2 (2.56%)

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SEI Investments signs three-year contract extension with Veritas Investment »

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NUE

Nucor

$65.10

2.07 (3.28%)

09:02
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Nucor to acquire Southland Tube for $130M »

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MSTX

Mast Therapeutics

$0.08

0.0009 (1.08%)

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CNSL

Consolidated Communications

$27.21

-1.17 (-4.12%)

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NLSN

Nielsen

$42.41

0.34 (0.81%)

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Conference/Events
Nielsen to host 2016 analyst day »

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CMG

Chipotle

$396.27

-3.76 (-0.94%)

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Chipotle says sales haven't recovered as much as previously expected »

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RGSE

Real Goods Solar

$0.51

0.0596 (13.23%)

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Breaking Syndicate news story on Real Goods Solar »

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REI

Ring Energy

$12.15

-0.81 (-6.25%)

08:59
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Ring Energy 6.5M share Spot Secondary priced at $11.50 »

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NSTG

NanoString

$21.99

-0.15 (-0.68%)

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T

AT&T

$38.63

0.02 (0.05%)

, TWX

Time Warner

$93.34

-0.46 (-0.49%)

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AT&T CEO says Time Warner review should be 'straightforward' »

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Redbook Store Sales data reported »

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TDOC

Teladoc

$18.45

0.5 (2.79%)

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