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TIF

Tiffany

$81.88

3.74 (4.79%)

, T

AT&T

$39.61

0.065 (0.16%)

12:06
11/29/16
11/29
12:06
11/29/16
12:06

On The Fly: Top stock stories at midday

The market opened with relative quiet and has moved in a narrow range despite better than expected economic reports, including a very optimistic consumer confidence reading and an upwardly revised estimate of third quarter GDP growth. The market has drifted toward the high end of its range in the past hour, but only the Nasdaq has been able to gather any upside momentum. ECONOMIC NEWS: In the U.S., third quarter GDP growth was upwardly revised to a 3.2% annual rate from the previously reported estimate of a 2.9% pace, helped by a big service-led boost to consumption and a smaller than expected downward inventory adjustment. The Case Shiller home price index rose 0.13% to 191.78 in September for the 20-city index, after a 0.38% gain in August. Consumer confidence surged 6.3 points to 107.1 in November, which was better than expected. According to data compiled by Adobe Digital Insights, shoppers spent $3.45B on Cyber Monday, marking the largest online sales day in U.S. history and easily surpassing prior estimates. In Asia, Japan's unemployment rate came in at 3% in October, unchanged from the previous month. Japan's retail sales fell 0.1% from a year before. In Europe, German consumer prices rose 0.1% in November. COMPANY NEWS: Shares of Tiffany & Co. (TIF) have gained over 4% after the company's third quarter results exceeded analysts' expectations, though the luxury jeweler said it needs to see more positive data before considering the quarter "an inflection point"... Shares of UnitedHealth Group (UNH) have advanced about 3.5% near noon after the company backed its fiscal 2016 guidance and provided better than expected guidance for fiscal 2017... AT&T (T) last night unveiled its new over-the-top offering DIRECTV NOW. The product will launch November 30 with four tiers of channel packages: $35 per month for 60+ channels, $50 for 80+ channels, $60 for 100+ channels, and $70 for 120+ channels. Time Warner's (TWX) HBO and Cinemax can be added for $5 per month. AT&T also said that it will offer an Apple (AAPL) TV to customers who sign up for a 3-month pre-paid package, and an Amazon (AMZN) Fire TV stick included with 1 month pre-paid DIRECTV NOW package. MAJOR MOVERS: Among the notable gainers was Thor Industries (THO), which advanced about 14% after reporting better than expected first quarter results. Also higher was Momenta Pharmaceuticals (MNTA), which gained almost 3% after a confirmatory Phase 3 clinical study of M923, a biosimilar HUMIRA candidate developed in collaboration with Shire's (SHPG) Baxalta, met its primary endpoint. Among the noteworthy losers was Amicus Therapeutics (FOLD), which dropped 22% after ruling out accelerated approval for its migalastat product and confirming the need for additional data following its consultation with the FDA. Also lower was Mallinckrodt (MNK), which fell nearly 9% despite announcing better than expected fourth quarter adjusted earnings per share and revenue. Additionally, Delphi Automotive (DLPH) dropped about 4% after Morgan Stanley analyst Adam Jonas downgraded the stock to Underweight as he believes an acceleration of electric vehicle strategy by the company's OEM customers will negatively impact growth and result in greater up-front R&D costs. INDEXES: Near midday, the Dow was up 29.96, or 0.16%, to 19,127.86, the Nasdaq was up 33.54, or 0.62%, to 5,402.35, and the S&P 500 was up 7.06, or 0.32%, to 2,208.78.

TIF

Tiffany

$81.88

3.74 (4.79%)

T

AT&T

$39.61

0.065 (0.16%)

AAPL

Apple

$111.57

-0.22 (-0.20%)

AMZN

Amazon.com

$766.77

-13.6 (-1.74%)

TWX

Time Warner

$93.20

0.3 (0.32%)

UNH

UnitedHealth

$157.71

5.6 (3.68%)

THO

Thor Industries

$102.76

12.315 (13.62%)

MNTA

Momenta

$13.90

-0.25 (-1.77%)

SHPG

Shire

$174.84

-0.39 (-0.22%)

FOLD

Amicus

$8.32

-0.58 (-6.52%)

MNK

Mallinckrodt

$52.69

-4.9785 (-8.63%)

DLPH

Delphi

$63.60

-2.72 (-4.10%)

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TIF Tiffany
$81.88

3.74 (4.79%)

11/23/16
OPCO
11/23/16
NO CHANGE
Target $87
OPCO
Outperform
Tiffany price target raised to $87 from $80 at Oppenheimer
Oppenheimer analyst Brian Nagel raised his price target for Tiffany to $87 from $80 ahead of results. While the analyst is concerned that a still challenged sales backdrop and higher expenses could weigh on results, longer term he is increasingly optimistic that internal merchandising and marketing efforts have the potential to fuel improved results, particularly as macro pressures potentially subside. Nagel reiterates an Outperform rating on the shares.
11/14/16
JEFF
11/14/16
NO CHANGE
Target $100
JEFF
Buy
Tiffany price target raised to $100 from $85 at Jefferies
Jefferies analyst Randal Konik raised his price target for Tiffany to $100 saying the company has a strong positioning in a growing market. Fashion jewelry fundamentals are improving while tourism headwinds are abating, Konik tells investors in a research note. The analyst reiterates a Buy rating on the shares.
11/17/16
JEFF
11/17/16
NO CHANGE
Target $100
JEFF
Buy
Jefferies sees 'robust' traffic at Tiffany flagship store amid Trump protests
After spending three days monitoring Tiffany's 5th Avenue flagship store in Manhattan to gauge traffic patterns and any Trump Tower protest related issues, Jefferies analyst Randal Konik concluded the store's traffic "was robust, not weak." Street police activity was high but didn't inhibit entrance to the store, Konik tells investors in a research note titled "5th Ave Flagship Store Checks Over Three Days Show 'Huuuuge' Strength." He believes investors are concerned that protests surrounding Trump Tower and high security will disrupt Tiffany's 5th Avenue store business. Konik keeps a Buy rating on Tiffany with a $100 price target.
11/29/16
SBSH
11/29/16
NO CHANGE
Target $79
SBSH
Neutral
Citi keeps Neutral on Tiffany despite improvements in Q3
Citi analyst Paul Lejuez says that while Tiffany's Q3 results showed signs of improvement, he remains concerned over the company's ability to connect with the millennial customer in the U.S. He also believes the recent strengthening of the U.S. dollar could act as a headwind to Q4 and FY17. Lejuez expects Tiffany shares to trade higher today but he keeps a Neutral rating on the name with a $79 price target.
T AT&T
$39.61

0.065 (0.16%)

11/02/16
PIVT
11/02/16
UPGRADE
Target $106
PIVT
Buy
Time Warner upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Brian Wieser upgraded Time Warner (TWX) to Buy with a $106 price target following the company's Q3 results. The analyst sees value in the stock due to the pending buyout by AT&T (T).
11/04/16
DBAB
11/04/16
NO CHANGE
Target $108
DBAB
Buy
Time Warner risk/reward remains attractive, says Deutsche Bank
Deutsche Bank analyst Bryan Kraft believes Time Warner's (TWX) attractive risk/reward "remains in place." The analyst continue to see limited downside if the takeover by AT&T (T) is not approved by regulators. Time Warner trades at only 9% above its pre-deal speculation stock price, Kraft tells investors in a research note, while pointing out that he has a $95 standalone 12-month valuation for the shares. The analyst keeps a Buy rating on the shares with a $108 price target.
11/08/16
OPCO
11/08/16
DOWNGRADE
OPCO
Perform
AT&T downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Timothy Horan downgraded AT&T (T) to Perform saying CenturyLink's (CTL) dividend is "relatively more attractive." The analyst this morning upgraded CenturyLink to Outperform. Horan also believes AT&T's acquisition of Time Warner (TWX) will face higher regulatory hurtles than CenturyLink's deal for Level 3 (LVLT). He expects the Time Warner deal to take 15 months to complete versus nine months for the Level 3 acquisition.
11/08/16
11/08/16
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. Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank and to Neutral from Buy at Northcoast. 2. AT&T (T) downgraded to Perform from Outperform at Oppenheimer with analyst Timothy Horan saying CenturyLink's (CTL) dividend is "relatively more attractive." 3. Bank of America (BAC) and Citizens Financial (CFG) downgraded to Hold from Buy at Deutsche Bank. 4. OneMain (OMF) downgraded to Market Perform from Outperform at Keefe Bruyette, to Neutral from Buy at Guggenheim, to Underperform from Buy at BofA/Merrill, to Neutral from Buy at Janney Capital, to Market Perform from Outperform at FBR Capital, and to Neutral from Outperform at Wedbush. 5. KeyCorp (KEY) and Goldman Sachs (GS) downgraded to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AAPL Apple
$111.57

-0.22 (-0.20%)

11/29/16
UBSW
11/29/16
NO CHANGE
Target $127
UBSW
Buy
Apple procurement estimates suggest risk to next two quarters, says UBS
UBS analyst Steven Milunovich said Apple's procurement numbers for the December and March quarters have been revised downward, putting consensus estimates for the two quarters at risk. The analyst is leaving his estimates unchanged, but notes his view remains below consensus. He said many investors are looking to 2018, when high retention rates and an aging installed base could drive significant upgrades for the next iteration of the iPhone. Milunovich reiterated his Buy rating and $127 price target on Apple shares.
11/23/16
RSBL
11/23/16
NO CHANGE
RSBL
Apple trimming March quarter component order forecast, says Rosenblatt
Rosenblatt believes Apple has starting trimming its March quarter component order forecast following last week's December quarter production cut. The firm's analyst now expects orders to drop to 40M-43M units from 45M-46M, and believes March quarter's iPhone shipment consensus forecast of 52M-54M may be at risk.
11/21/16
ADAM
11/21/16
NO CHANGE
Target $140
ADAM
Buy
Apple continues to dominate industry operating profits, says Canaccord
Canaccord analyst T. Michael Walkley said Apple captured a strong share of the premium-tier global smartphone market during Q3 and believes they will continue to extend their leading market share position. He noted Apple will continue to generate strong profit share despite iPhone sales moderating in North America over the past several weeks. Walkley expects steady iPhone 7 sales will help Apple return to growth in Q1 2017 and reiterated his Buy rating and $140 price target on the shares.
11/23/16
CLVD
11/23/16
NO CHANGE
CLVD
Neutral
Apple iPhone 7 supply remains constrained, says Cleveland Research
Cleveland Research said its near-term work remains encouraging on iPhone 7 demand and mix, with checks indicating that supply of iPhone 7 seems to be normalizing in most channels and tightness persists for the 7+. Discussions also suggest growing optimism for the next iPhone refresh, said the firm, which has a Neutral rating on Apple shares.
AMZN Amazon.com
$766.77

-13.6 (-1.74%)

11/28/16
OPCO
11/28/16
NO CHANGE
OPCO
Initial eCommerce data points show stable trends, says Oppenheimer
Oppenheimer analyst Jason Helfstein says initial eCommerce data points show stable trends ahead of Cyber-Monday, after Adobe (ADBE) and ComScore (SCOR) released online retail sales data for Thanksgiving and Black Friday. The analyst notes that Adobe recorded $5.3B in online spending during the two-day period, over 18% year over year, same as last year, but points out that the company does not measure Amazon (AMZN) sales, as data reflects sales from "Adobe Marketing Cloud" clients. On the other hand, Helfstein says comScore data showed "significant" acceleration, with spending over 18% year over year to $3.3B during the two-day period.
11/28/16
SBSH
11/28/16
NO CHANGE
Target $960
SBSH
Buy
Citi trims Amazon price target on lower AWS estimates
To reflect the reduced storage prices announced last week by Amazon Web Services, Citi analyst Mark May cut his AWS revenue and consolidated segment operating income for 2017 by 3% and 9%, respectively. The analyst, however, does not view the price reductions as an indication of competitive pressures or a threat to long-term margin outlook for AWS. May lowered his price target for Amazon.com shares to $960 from $965 and keeps a Buy rating on name. His new price target reflects 23% upside from current levels.
11/28/16
CLVD
11/28/16
NO CHANGE
CLVD
Amazon expanding lab distribution capabilities, says Cleveland Research
Cleveland Research said Amazon.com (AMZN) has been expanding its capabilities towards larger customers and can now offer purchase orders adn volume based specific pricing, causing larger customers to reevaluate Amazon as a possible distributor for both Lab and non-Lab purchases. The firm believes Stanford University has recently decided not to renew its Thermo Labs (TMO) primary lab distribution contract and the scool will start using both Amazon and Thermo for its lab product needs.
11/29/16
LBOW
11/29/16
NO CHANGE
LBOW
Fitbit 'dominated' best seller lists on Black Friday, says Longbow
Longbow analyst Joe Wittine says that Fitbit (FIT) "dominated" best-seller lists on Black Friday, propelled by steep discounts at Amazon (AMZN) and Target (TGT). However, the analyst adds that Internet searches for Fitbit on Black Friday dropped 11% versus Black Friday 2015. He keeps a Neutral rating on the stock.
TWX Time Warner
$93.20

0.3 (0.32%)

11/17/16
11/17/16
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. Microsoft (MSFT) upgraded to Buy from Neutral at Goldman with analyst Heather Bellini saying Azure is the number two market share vendor in the cloud space, and has grown 100% or more year-over-year eight of the last 10 quarters. 2. Time Warner (TWX) upgraded to Buy from Sell at MoffettNathanson. 3. First Solar (FSLR) upgraded at JMP Securities with analyst Joseph Osha citing valuation. 4. KBR (KBR) upgraded to Buy from Neutral at BofA Merrill Lynch with analyst Anna Kaminskaya saying she expects structurally higher defense spending to drive a re-rating in KBR and sees less risk of cost overruns in the E&C business given lower reliance on fixed priced contracts and diversification into smaller sized service projects. 5. Liberty Interactive (QVCA) upgraded to Buy from Neutral at BofA Merrill Lynch with analyst Heather Balsky saying she has increased confidence in a return to positive US sales growth and expects multiple expansion as sales improve. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/16
11/07/16
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. Time Warner (TWX) upgraded to Outperform from Neutral at Credit Suisse with analyst Omar Sheikh citing attractive valuation. 2. Waste Management (WM) upgraded to Overweight from Equal Weight at Barclays with analyst Jon Windham saying the recent pullback in shares provides a buying opportunity given the company's "strong" underlying fundamentals. 3. Parker-Hannifin (PH) upgraded to Buy from Hold at Evercore ISI and to Overweight from Equal Weight at Morgan Stanley. 4. Biogen (BIIB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Joshua Schimmer saying the company still has time to "get its act together to maximize the value of its SMA franchise, and stop being M&A disciplined/pipeline-undisciplined." 5. Cummins (CMI) upgraded to Buy from Hold at Evercore ISI with analyst David Raso citing lowered expectations, valuation, and accelerating inflation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/17/16
MOFT
11/17/16
UPGRADE
MOFT
Buy
Time Warner upgraded to Buy from Sell at MoffettNathanson
UNH UnitedHealth
$157.71

5.6 (3.68%)

10/19/16
LEER
10/19/16
NO CHANGE
Target $175
LEER
Outperform
UnitedHealth price target raised to $175 from $165 at Leerink
Leerink analyst Ana Gupte raised her price target for UnitedHealth to $175 from $165 after the company reported a "solid beat and raise" Q3, giving her more confidence in the strength of the company's diversified platform and execution while also offering positive read-across for Commercial Fully Insured & Individual fundamentals to the rest of the group. The analyst reiterates an Outperform rating on the shares.
11/09/16
BERN
11/09/16
NO CHANGE
BERN
Health insurers to see multiple catalysts from Trump presidency, says Bernstein
Bernstein analyst Lance Wilkes says that "repealing and replacing Obamacare will be Trump's primary focus." The analyst expects health insurers to benefit from from the repeal of ACA taxes and the elimination of requirements to spend a certain percentage of revenue on medical costs. Wilkes expects Anthem (ANTM) and Blue Cross/Blue Shield providers to benefit from the elimination of public exchanges and broad coverage requirements. Other health insurers include Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
11/09/16
MZHO
11/09/16
DOWNGRADE
Target $135
MZHO
Neutral
UnitedHealth downgraded to Neutral on Republican win at Mizuho
As previously reported, Mizuho analyst Sheryl Skolnick downgraded UnitedHealth to Neutral from Buy citing Donald Trump's election and the move to a GOP Congress. Following the election results, Skolnick sees an "extreme risk" for the ACA to be repealed and replaced and for the loss of the Medicaid expansion, both of which she notes have been primary drivers of results for hospitals and health plans. She cut her price target on the stock to $135 from $169.
11/09/16
MZHO
11/09/16
DOWNGRADE
MZHO
Neutral
UnitedHealth downgraded to Neutral from Buy at Mizuho
THO Thor Industries
$102.76

12.315 (13.62%)

09/28/16
WLSD
09/28/16
UPGRADE
WLSD
Buy
Thor Industries upgraded to Buy from Gradually Accumulate at Wellington Shields
07/29/16
RHCO
07/29/16
UPGRADE
RHCO
Buy
Thor Industries upgraded on multiple catalysts at SunTrust
As noted earlier, SunTrust upgraded Thor to Buy from Neutral. Analyst Michael Swartz predicts that the company will benefit from higher than expected accretion and synergies from its Jayco acquisition, as well as 20%-40% growth in industry volumes by 2020. Target $90.
09/13/16
NRCS
09/13/16
UPGRADE
Target $95
NRCS
Buy
Thor Industries upgraded to Buy from Neutral at Northcoast
Northcoast analyst Seth Woolf upgraded Thor Industries to Buy with a $95 price target. The analyst said the recent move in shares still doesn't reflect full accretion of the Jayco acquisition nor the strategic benefits. Woolf believes that the Jayco deal gives the company the best product portfolio in the industry. This is particularly true as it relates to Thor's ability to ride the wave of younger consumers entering the channel via entry-level travel trailers, the analyst wrote.
08/19/16
WDLK
08/19/16
DOWNGRADE
Target $80
WDLK
Hold
Thor Industries downgraded to Hold from Buy at Wunderlich
Wunderlich analyst Rommel Dionisio downgraded Thor Industries to Hold citing the recent rally in the shares. The analyst keeps an $80 price target for the name.
MNTA Momenta
$13.90

-0.25 (-1.77%)

11/22/16
AGIS
11/22/16
INITIATION
Target $15
AGIS
Hold
Momenta initiated with a Hold at Aegis
Aegis analyst Difei Yang iniatied Momenta with a Hold and a $15 price target.
09/07/16
MAXM
09/07/16
DOWNGRADE
MAXM
Sell
Momenta downgraded to Sell from Hold at Maxim
09/02/16
LEER
09/02/16
NO CHANGE
LEER
Outperform
Teva third Copaxone patent invalidated as expected, says Leerink
Leerink analyst Jason Gerberry says Teva (TEVA) suffered a largely expected loss in its Copaxone 40mg patent battle, with the Patent Trial and Appeal Board, or PTAB, ruling a third patent invalid. The analyst believes the company will likely appeal the loss, along with PTAB rulings rendered last week that other Copaxone patents were invalid. Gerberry sees the bull case scenario of Teva securing patent exclusivity of the Copaxone 40mg as unlikely and says a settlement with Momenta (MNTA) and Novartis (NVS) is the most logical course of action to mitigate 2017-2018E EPS risk. He reiterates an Outperform rating on Teva's shares.
10/11/16
LEHM
10/11/16
UPGRADE
Target $19
LEHM
Overweight
Momenta upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Douglas Tsao upgraded Momenta Pharmaceuticals to Overweight after attending the consolidated Copaxone 40mg trial. The analyst sees low risk of Momenta being blocked from the 40mg opportunity past 2018 and views the stock's risk/reward as "compelling" at current levels. Tsao believes there is a "good likelihood" that Sandoz, Momenta's partner, launches Copaxone 40mg at-risk as soon as February 2017 upon FDA approval when the 30-month stay expires. The analyst raised his price target for Momenta shares to $19 from $13.
SHPG Shire
$174.84

-0.39 (-0.22%)

11/09/16
SBSH
11/09/16
NO CHANGE
SBSH
Citi sees Healthcare 'relief rally' after Trump win
Citi analyst Andrew Baum expects a "'relief rally" to drive near-term sector outperformance for names in the Healthcare space given the "inability of the Democrats to attain the Presidency, the House or Congress." Longer term, however, the analyst still sees "significant continued legislative risk" for pharma reimbursement. Baum prefers GlaxoSmithKline (GSK), AstraZeneca (AZN), Shire (SHPG) and Roche (RHHBY) among European majors and Bristol-Myers (BMY) and Eli Lilly (LLY) in the U.S.
11/02/16
LEER
11/02/16
NO CHANGE
Target $198
LEER
Outperform
Shire price target lowered to $198 from $234 at Leerink
Following a modest Q3 miss, Leerink analyst Jason Gerberry lowered his price target for Shire to $198 from $234 to reflect a more conservative outlook on key franchises due to out-year competitive pressures. The analyst reiterates an Outperform rating on the stock as he believes concerns around pricing look overdone and shares are attractively valued.
11/01/16
BTIG
11/01/16
NO CHANGE
Target $242
BTIG
Buy
Shire's recent weakness overdone, says BTIG
BTIG analyst Timothy Chiang believes the recent selloff in Shire is overdone and that weakness in the Hematology segment was impacted by the timing of large orders. The analyst maintains his Buy rating and $242 price target on Shire shares.
11/14/16
JPMS
11/14/16
NO CHANGE
JPMS
JPMorgan says Merrimack could fit as target for Shire
JPMorgan analyst Anupam Rama believes Merrimack Pharmaceuticals (MACK) could fit as a potential target for Shire (SHPG). The $1B deal size would be manageable, Rama tells investors in a research note after Ben Harrington's Betaville blog, citing sources, reported Friday that Shire is among the companies participating in Merrimack's strategic review process. Assuming a 40% premium to the intraday Merrimack share price, the deal would be 1% accretive in 2019 and 2% accretive in 2020, Rama estimates.
FOLD Amicus
$8.32

-0.58 (-6.52%)

10/07/16
GSCO
10/07/16
NO CHANGE
GSCO
Smid-cap Biotech sector upgraded to Attractive from Neutral at Goldman
Goldman analyst Salveen Richter upgraded the Smid-cap biotechnology to Attractive and said he favors and companies with near-term pipeline data or regulatory events where he has conviction.Names he recommends are Buy rated BioMarin (BMRN), bluebird bio (BLUE), GW Pharma (GWPH), Incyte (INCY), Kite (KITE), and Sage (SAGE).
11/29/16
COWN
11/29/16
NO CHANGE
Target $12
COWN
Outperform
Amicus price target lowered to $12 from $15 at Cowen
Cowen analyst Ritu Baral lowered her price target on Amicus to $12 from $15 after the FDA told the company it could not file the Galafold NDA with current data and that data from a new trial is expected in 2019. Baral maintained her Outperform rating on Amicus, stating that the planned GI trial has a good chance of success.
07/20/16
JPMS
07/20/16
NO CHANGE
Target $13
JPMS
Overweight
Amicus risk/reward 'compelling' at current levels, says JPMorgan
JPMorgan analyst Anupam Rama views the risk/reward for shares of Amicus Therapeutics at current levels as "compelling." After declining 39% year-to-date, Amicus is essentially only pricing in outside the U.S. Galafold sales in Fabry disease plus cash, Rama tells investors in a research note. Very little credit is being given to the company's U.S. migalastat, Zorblisa or the Pompe program, which all have events in the second half of 2016, the analyst contends. Rama thinks only one of the three need to hit for the stock to trade "materially higher," with upside ranging from 20%-100%-plus on a single success, and "meaningfully more upside" potential on multiple positive updates. Rama reiterates an Overweight rating on Amicus with a $13 price target.
08/22/16
GSCO
08/22/16
NO CHANGE
GSCO
Goldman lists companies to be in focus after Medivation deal
After Pfizer (PFE) announced it has agreed to acquire Medivation (MDVN) for $81.50 per share in cash, Goldman Sachs analyst Salveen Richter said he expects a focus on other commercial small-to-mid-cap cancer companies, including Incyte (INCY), Seattle Genetics (SGEN), ARIAD (ARIA) and Exelixis (EXEL). Also noting that Sanofi (SNY), which was pursuing Medivation, has recently suggested an interest in a rare disease transaction up to potentially as large as $20B, he would expect rare disease companies of that size - such as BioMarin (BMRN), Amicus (FOLD) and Ultragenyx (RARE) - to be in focus as well.
MNK Mallinckrodt
$52.69

-4.9785 (-8.63%)

11/17/16
WELS
11/17/16
NO CHANGE
WELS
Outperform
Mallinckrodt drop on short-seller report a buying opportunity, says Wells Fargo
Wells Fargo analyst David Maris said the 12% drop in Mallinckrodt on the heels of a new report from short-seller Citron Research presents a buying opportunity, as he believes the assertion that Acthar has no clinical data is incorrect. Maris noted the report came out during Mallinckrodt's quiet period, which is something that had previously happened with a prior Citron report on the company, but the company tells him that the CEO's previous answer to a question regarding Acthar's exposure to Medicaid and Medicare was accurate. Maris keeps an Outperform rating on Mallinckrodt shares.
11/17/16
RAJA
11/17/16
INITIATION
Target $72
RAJA
Outperform
Mallinckrodt initiated with an Outperform at Raymond James
Raymond James initiated Mallinckrodt with an Outperform and a $72 price target.
11/18/16
RAJA
11/18/16
INITIATION
Target $72
RAJA
Outperform
Mallinckrodt initiated with an Outperform and $72 price target at Raymond James
Raymond James analyst Elliot WIlbur initiated Mallinckrodt with an Outperform and a $72 price target saying negative sector sentiment combined with further allegations from short sellers have created a compelling entry point. Wilbur believes Mallinckrodt provides one of the most sustainable top and bottom line growth trajectories in specialty pharmaceuticals and notes Achar has only a 3% penetration rate of the total addressable market, giving it a long runway of growth.
11/21/16
UBSW
11/21/16
NO CHANGE
Target $92
UBSW
Buy
Mallinckrodt weakness does not make sense, says UBS
UBS analyst Marc Goodman attended Mallinckrodt investors meetings and came away believing investors misunderstand the company story. The analyst said the company's Acthar drug, which has come under fire, has little relevance to the overall story. Goodman said the company has focused on enhancing clinical and health-economics data to help support better coverage and it is working. He said its emerging pipeline is under-appreciated. Goodman reiterated his Buy rating and $92 price target on Mallinckrodt shares.
DLPH Delphi
$63.60

-2.72 (-4.10%)

11/29/16
MSCO
11/29/16
DOWNGRADE
MSCO
Underweight
Delphi downgraded to Underweight from Equal Weight at Morgan Stanley
11/29/16
11/29/16
DOWNGRADE
Target $59

Underweight
Delphi downgraded to Underweight on electrification risk at Morgan Stanley
As previously reported, Morgan Stanley downgraded Delphi to Underweight from Equal Weight and lowered its price target to $59 from $75. Analyst Adam Jonas believes an acceleration of electric vehicle strategy by Delphi's OEM customers will negatively impact growth, lower margins for ICE powertrain, and result in greater up-front RD&E costs. The analyst sees diminishing economic returns given changing OEM priorities to re-engineer propulsion systems to electric from internal combustion, creating material earnings growth risk.
11/09/16
11/09/16
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. JPMorgan (JPM) downgraded to Neutral from Outperform at Baird with analyst David George noting the stock's outperformance and the higher re-rating of its valuation multiple. 2. GoPro (GPRO) downgraded to Neutral from Outperform at Wedbush, to Market Perform from Outperform at Raymond James, and to Sell from Neutral at Dougherty. 3. Universal Health (UHS) downgraded to Neutral from Buy at BofA/Merrill, to Neutral from Buy at Mizuho, and to Market Perform from Outperform at Avondale. 4. Globus Medical (GMED) downgraded to Market Perform from Outperform at JMP Securities, to Perform from Outperform at Oppenheimer, and to Market Perform from Outperform at William Blair. 5. Delphi (DLPH) and Magna (MGA) were downgraded to Underperform from Buy at BofA/Merrill while the firm downgraded Lear (LEA), American Axle (AXL), Adient (ADNT), and BorgWarner (BWA) to Underperform from Neutral. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/22/16
BREN
11/22/16
INITIATION
Target $70
BREN
Hold
Delphi initiated with a Hold at Berenberg
Target $70.

TODAY'S FREE FLY STORIES

AVA

Avista

$51.40

0.1 (0.19%)

18:47
09/22/17
09/22
18:47
09/22/17
18:47
Hot Stocks
Avista receives commission decision in Oregon natural gas rate case »

Avista's natural gas…

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  • 05

    Nov

BMWYY

BMW

$34.00

0.083 (0.24%)

18:40
09/22/17
09/22
18:40
09/22/17
18:40
Periodicals
BMW to build new 8 series in Dingolfing from 2018, Reuters reports »

BMW intends to build its…

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CSCO

Cisco

$33.37

0.67 (2.05%)

18:20
09/22/17
09/22
18:20
09/22/17
18:20
Hot Stocks
Cisco completes acquisition of Springpath »

Cisco announced that it…

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  • 22

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    Sep

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    Sep

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    Sep

  • 05

    Oct

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    Oct

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    Oct

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    Oct

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    Oct

  • 15

    Nov

  • 07

    Dec

  • 11

    Dec

BMY

Bristol-Myers

$63.36

0.03 (0.05%)

18:12
09/22/17
09/22
18:12
09/22/17
18:12
Hot Stocks
Bristol-Myers announces FDA approval of Opdivo »

Bristol-Myers announced…

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  • 24

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  • 18

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  • 08

    Nov

  • 09

    Nov

  • 05

    Mar

INSE

Inspired Entertainment

$13.60

0.3 (2.26%)

17:38
09/22/17
09/22
17:38
09/22/17
17:38
Hot Stocks
Inspired Entertainment COO Wilson leaving by reason of redundancy »

On September 21, Inspired…

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  • 28

    Sep

MNOV

MediciNova

$6.18

0.3 (5.10%)

17:30
09/22/17
09/22
17:30
09/22/17
17:30
Syndicate
Breaking Syndicate news story on MediciNova »

MediciNova files $200M…

03/08/13
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  • 26

    Sep

ISRG

Intuitive Surgical

$1,031.52

1.31 (0.13%)

17:25
09/22/17
09/22
17:25
09/22/17
17:25
Conference/Events
Intuitive Surgical to host special shareholder meeting »

Special Shareholder…

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  • 22

    Sep

GD

General Dynamics

$205.41

-0.31 (-0.15%)

17:21
09/22/17
09/22
17:21
09/22/17
17:21
Hot Stocks
General Dynamics Electric Boat awarded $341.2M government contract modification »

General Dynamics Electric…

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CHRS

Coherus Biosciences

$12.85

0.3 (2.39%)

17:19
09/22/17
09/22
17:19
09/22/17
17:19
Syndicate
Breaking Syndicate news story on Coherus Biosciences »

Coherus Biosciences files…

03/08/13
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  • 25

    Sep

FIBK

First Interstate

$36.90

0.3 (0.82%)

17:18
09/22/17
09/22
17:18
09/22/17
17:18
Syndicate
First Interstate files to sell $250M of Class A common stock »

The shelf registration…

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NRCIA

National Research, also tag NRCIB

$37.45

0.55 (1.49%)

, NRCIB

National Research, also tag NRCIA

$54.30

0.31 (0.57%)

17:08
09/22/17
09/22
17:08
09/22/17
17:08
Hot Stocks
National Research launches metric to measure healthcare consumer loyalty »

NRC Health launched the…

NRCIA

National Research, also tag NRCIB

$37.45

0.55 (1.49%)

NRCIB

National Research, also tag NRCIA

$54.30

0.31 (0.57%)

03/08/13
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03/06/13
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CC

Chemours

$51.79

-0.16 (-0.31%)

, HON

Honeywell

$141.75

0.89 (0.63%)

16:58
09/22/17
09/22
16:58
09/22/17
16:58
Hot Stocks
Chemours files appeal concerning SNAP 20 rule to regulate HFCs »

The Chemours Company (CC)…

CC

Chemours

$51.79

-0.16 (-0.31%)

HON

Honeywell

$141.75

0.89 (0.63%)

03/08/13
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03/06/13
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AGN

Allergan

$204.65

1.99 (0.98%)

16:57
09/22/17
09/22
16:57
09/22/17
16:57
Hot Stocks
Allergan receives refusal to file letter from FDA for Vraylar »

Allergan announced that…

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  • 25

    Sep

HON

Honeywell

$141.75

0.89 (0.63%)

, CC

Chemours

$51.79

-0.16 (-0.31%)

16:51
09/22/17
09/22
16:51
09/22/17
16:51
Hot Stocks
Honeywell, Chemours seek rehearing of D.C Court decision regarding SNAP program »

Honeywell (HON) and…

HON

Honeywell

$141.75

0.89 (0.63%)

CC

Chemours

$51.79

-0.16 (-0.31%)

03/08/13
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03/06/13
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JOE

Saint Joe Co.

$18.60

0.45 (2.48%)

16:46
09/22/17
09/22
16:46
09/22/17
16:46
Hot Stocks
Breaking Hot Stocks news story on Saint Joe Co. »

Fairholme raises stake in…

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16:40
09/22/17
09/22
16:40
09/22/17
16:40
General news
Moody's downgrades UK's rating to Aa2, changes outlook to stable »

Moody's Investors…

A

Agilent

$65.78

-0.14 (-0.21%)

, MRK

Merck

$65.13

-0.47 (-0.72%)

16:36
09/22/17
09/22
16:36
09/22/17
16:36
Hot Stocks
Agilent receives expanded FDA approval for the use of Dako PD-L1 IHC 22C3 »

Agilent Technologies…

A

Agilent

$65.78

-0.14 (-0.21%)

MRK

Merck

$65.13

-0.47 (-0.72%)

03/08/13
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  • 22

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  • 08

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  • 30

    Nov

TYHT

Shineco

$3.23

-0.45 (-12.23%)

16:35
09/22/17
09/22
16:35
09/22/17
16:35
Hot Stocks
Shineco enters into strategic cooperation to establish Apocynum Industrial Park »

Shineco announced that…

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ARCI

Appliance Recycling

$1.16

0.03 (2.65%)

16:34
09/22/17
09/22
16:34
09/22/17
16:34
Hot Stocks
Appliance Recycling gets written notice of default »

On September 20,…

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RNVA

Rennova Health

$0.22

0.0086 (4.07%)

16:31
09/22/17
09/22
16:31
09/22/17
16:31
Hot Stocks
Rennova Health announces 1 for 15 reverse stock split »

Rennova Health announced…

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ARCI

Appliance Recycling

$1.16

0.03 (2.65%)

16:31
09/22/17
09/22
16:31
09/22/17
16:31
Hot Stocks
Breaking Hot Stocks news story on Appliance Recycling »

Appliance Recycling gets…

03/08/13
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03/06/13
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16:30
09/22/17
09/22
16:30
09/22/17
16:30
Options
Preliminary option volume of 13.9M today »

Preliminary option volume…

EKSO

Ekso Bionics

$1.28

0.14 (12.28%)

16:23
09/22/17
09/22
16:23
09/22/17
16:23
Hot Stocks
Ekso Bionics awarded government contract »

The Department of…

03/08/13
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03/06/13
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UNH

UnitedHealth

$193.03

-2.18 (-1.12%)

, AET

Aetna

$153.57

0.18 (0.12%)

16:22
09/22/17
09/22
16:22
09/22/17
16:22
General news
On The Fly: Top stock stories for Friday »

The major averages…

UNH

UnitedHealth

$193.03

-2.18 (-1.12%)

AET

Aetna

$153.57

0.18 (0.12%)

ANTM

Anthem

$182.86

-0.64 (-0.35%)

CI

Cigna

$182.74

0.61 (0.33%)

AAPL

Apple

$151.89

-1.5 (-0.98%)

FSLR

First Solar

$51.41

2.65 (5.43%)

FINL

Finish Line

$9.73

0.51 (5.53%)

ASND

Ascendis Pharma

$34.24

6.5 (23.43%)

VSAR

Versartis

$2.68

-18.925 (-87.62%)

ICPT

Intercept

$61.59

-12.11 (-16.43%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 22

    Sep

  • 22

    Oct

DLR

Digital Realty

$114.51

-1.72 (-1.48%)

16:19
09/22/17
09/22
16:19
09/22/17
16:19
Syndicate
Breaking Syndicate news story on Digital Realty »

Digital Realty files…

03/08/13
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03/06/13
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