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GS

Goldman Sachs

$219.80

8.0495 (3.80%)

, WFC

Wells Fargo

$52.39

0.527 (1.02%)

10:49
11/30/16
11/30
10:49
11/30/16
10:49

Deutsche says bank stocks may not be pricing in economic strength

Deutsche Bank upgraded Goldman Sachs (GS) to Buy from Hold and raised its price target on many other bank stocks, saying that their shares may have adjusted upward for expectations of rising rates but may not be fully pricing in the strengthening economy. OVERALL OUTLOOK: Banks should benefit from strong economic growth, higher interest rates and lower tax rates, wrote Deutsche Bank analyst Matt O'Connor. Stronger economic growth should cause banks' loan growth and fee revenues to accelerate, but these positive catalysts "may not be" reflected in bank stocks in the way that the anticipation of rising interest rates has already been, O'Connor contended. GOLDMAN SACHS: Goldman's potential revenue growth, "good cost control" and below peer valuation leave it looking "well-positioned for a stronger macro environment," according to O'Connor. Meanwhile, Goldman's capital market businesses, as well as its lending operations, should benefit from a strengthening economy, added the analyst. He raised his price target on the shares to $255 from $180 in addition to upgrading the shares. WELLS FARGO, HUNTINGTON: Despite rising over 20%, Huntington still trades significantly below its peer average, likely due to concerns about its indirect consumer auto loans and worries about its acquisition of FirstMerit, O'Connor stated. However, if the economy accelerates, its auto loans should be "fine," and investors' concerns about the acquisition will probably dissipate "over the next quarter or two" as cost savings kick in, the analyst stated. Wells Fargo is trading 14% below its large regional peers on continued worries about its cross selling activities and related areas, the analyst stated. The discount should decline as regulatory and legal issues will probably get solved, O'Connor believes. He identified Huntington and Wells Fargo as his favorite regional bank stocks and kept Buy ratings on both names. O'Connor increased his price target on Huntington to $15 from $12 and raised his price target on Wells to $60 from $49. OTHER TARGET INCREASES: O'Connor raised his price target on BB&T (BBT) to $48 from $42, on JPMorgan (JPM) to $90 from $73, on PNC (PNC) to $120 from $99, and on SunTrust (STI) to $58 from $50. He kept Buy ratings on all the aforementioned stocks. The analyst also increased his price targets on Bank of America (BAC), Citi (C), Citizens Financial (CFG), First Horizon (FHN), Fifth Third (FITB), KeyCorp (KEY), Morgan Stanley (MS), M&T Bank (MTB), Regions Financial (RF), and US Bancorp (USB). PRICE ACTION: In morning trading, Goldman rallied 3.3% to $218.83, while Huntington rose 2% to $12.54 and Wells Fargo added 1.2% to $52.50.

GS

Goldman Sachs

$219.80

8.0495 (3.80%)

WFC

Wells Fargo

$52.39

0.527 (1.02%)

HBAN

Huntington Bancshares

$12.28

0.02 (0.16%)

BBT

BB&T

$44.94

0.79 (1.79%)

JPM

JPMorgan

$79.76

0.84 (1.06%)

PNC

PNC Financial

$110.45

1.19 (1.09%)

STI

SunTrust

$51.93

0.79 (1.54%)

BAC

Bank of America

$20.84

0.62 (3.07%)

C

Citi

$56.42

0.9 (1.62%)

CFG

Citizens Financial

$33.20

0.81 (2.50%)

FHN

First Horizon

$19.08

0.355 (1.90%)

FITB

Fifth Third

$25.39

0.01 (0.04%)

KEY

KeyCorp

$17.42

0.41 (2.41%)

MS

Morgan Stanley

$41.32

0.72 (1.77%)

MTB

M&T Bank

$142.55

2.46 (1.76%)

RF

Regions Financial

$13.52

0.335 (2.54%)

USB

U.S. Bancorp

$49.57

0.47 (0.96%)

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GS Goldman Sachs
$219.80

8.0495 (3.80%)

11/30/16
11/30/16
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. Goldman Sachs (GS) upgraded to Buy from Hold at Deutsche Bank with analyst Matt O'Connor saying leverage to higher rates is mostly reflected in bank stock prices following their post-election advance so far, but that higher loan growth and fee volumes from a stronger economy may not be. 2. Charles River upgraded to Equal Weight from Underweight at Barclays with analyst Douglas Tsao saying Charles River is the biggest beneficially of the increased biopharma R&D and views valuation as balanced at current levels. 3. Celanese (CE) upgraded to Buy from Neutral at Goldman with analyst Robert Koort saying he believes Celanese is poised to outperform given continued strong execution by management with focus on mix improvement, strong cash flow generation, and shareholder friendly deployment. 4. MAA (MAA) upgraded to Outperform from Market Perform at BMO Capital with analyst John Kim citing valuation. 5. Super Micro Computer (SMCI) upgraded to Buy from Neutral at DA Davidson with analyst Mark Kelleher saying he expects the company to report strong December quarter results and predicts that it will benefit from the rollout of Intel's (INTC) Sky Lake product and the strong growth of its own storage product. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/29/16
KBWI
11/29/16
UPGRADE
Target $240
KBWI
Outperform
Goldman Sachs upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl upgraded Goldman Sachs to Outperform saying the company should benefit more than peers from a better trading environment. The analyst raised his price target for the shares to $240 from $185.
11/29/16
DBAB
11/29/16
UPGRADE
DBAB
Buy
Goldman Sachs upgraded to Buy from Hold at Deutsche Bank
11/30/16
11/30/16
UPGRADE

Buy
Deutsche ups Goldman Sachs to Buy, says stronger economy not yet priced in
As previously reported, Deutsche Bank analyst Matt O'Connor upgraded Goldman Sachs (GS) to Buy from Hold, offering the opinion that leverage to higher rates is mostly reflected in bank stock prices following their post-election advance so far, but that higher loan growth and fee volumes from a stronger economy may not be. After having updated his earnings models to more closely reflect a combination of stronger economic growth, higher interest rates and lower regulations and tax rates, O'Conner said Goldman is now one of his top, listing Huntington Bancshares (HBAN) and Wells Fargo (WFC) as his top large regional bank choices.
WFC Wells Fargo
$52.39

0.527 (1.02%)

11/28/16
JEFF
11/28/16
DOWNGRADE
Target $58
JEFF
Hold
Wells Fargo downgraded to Hold from Buy at Jefferies
Jefferies analyst Ken Usdin downgraded Wells Fargo to Hold citing valuation with the shares up 15% since the U.S. election. The analyst raised his price target for the shares to $58 from $50.
11/28/16
11/28/16
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. AbbVie (ABBV) downgraded to Neutral from Buy at Citi. 2. Citi (C), Wells Fargo (WFC), and Regions Financial (RF) were downgraded to Hold from Buy at Jefferies with analyst Ken Usdin citing valuation. 3. Hilton (HLT) and Marriott (MAR) were downgraded to Hold from Buy at Evercore ISI. 4. H&R Block (HRB) downgraded to Sell from Neutral at BTIG with analyst Mark Palmer noting that President-elect Trump has said he wants to put H&R Block out of business by simplifying the tax code. 5. Tupperware Brands (TUP) downgraded to Sell from Neutral at B. Riley with analyst Linda Bolton Weiser saying the stock has not moved lower to reflect post-election currency devaluations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/18/16
11/18/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underperform from Market Perform at BMO Capital with analyst James Fotheringham saying that the shares don't reflect the impact of its "recent cross-selling issues." 2. Gap (GPS) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez citing expectations that the company's brands will continue to struggle. 3. Citi (C) downgraded to Neutral from Outperform at Macquarie with analyst David Konrad saying investors should shift exposure to names that have more leverage to capital markets and increased economic activity and away from global banks. 4. Torchmark (TMK) downgraded to Underperform from Neutral at BofA/Merrill with analyst Seth Weiss citing relative valuation. 5. First Solar (FSLR) downgraded to Sell from Neutral at UBS with analyst Julien Dumoulin-Smith saying the recently issued 2017 guidance "is not the trough in expectations." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
HBAN Huntington Bancshares
$12.28

0.02 (0.16%)

11/28/16
JEFF
11/28/16
DOWNGRADE
Target $14
JEFF
Hold
Huntington Bancshares downgraded to Hold from Buy at Jefferies
Jefferies analyst Ken Usdin downgraded Huntington Bancshares to Hold citing valuation following the "strong relative performance" of shares since the U.S. election. The analyst raised his price target for the stock to $14 from $12.
11/30/16
NOMU
11/30/16
UPGRADE
NOMU
Buy
Huntington Bancshares upgraded to Buy from Neutral at Nomura
Nomura analyst Bill Carcache upgraded Huntington Bancshares to Buy based on expectations of the successful execution of its recently completed acquisition of FirstMerit. Carcache believes the market is underestimating the magnitude of its inflection in returns and expects returns to inflect in 2017.
11/22/16
MACQ
11/22/16
UPGRADE
Target $14
MACQ
Outperform
Huntington Bancshares upgraded to Outperform from Neutral at Macquarie
Macquarie analyst John Moran upgraded Huntington Bancshares to Outperform with a $14 price target based on improving fundamentals from the FirstMerit transaction and the recent steepening of the yield curve. Moran said shares look attractive based on his outlook for above peer ROTCE at almost 15% in 2018.
BBT BB&T
$44.94

0.79 (1.79%)

11/15/16
BMOC
11/15/16
DOWNGRADE
BMOC
Market Perform
BB&T downgraded to Market Perform from Outperform at BMO Capital
11/15/16
BMOC
11/15/16
DOWNGRADE
BMOC
Market Perform
BB&T downgraded on valuation, lack of catalysts at BMO Capital
As noted earlier, BMO Capital downgraded BB&T to Market Perform from Outperform. Analyst Lana Chan downgraded the stock based on valuation and her belief that the company lacks positive catalysts going forward. Target to $45 from $43.
11/14/16
MSCO
11/14/16
DOWNGRADE
Target $42
MSCO
Underweight
BB&T downgraded to Underweight on relative valuation at Morgan Stanley
As previously reported, Morgan Stanley upgraded BB&T to Underweight from Equal Weight and raised its price target to $42 from $37. Analysts led by Betsy Graseck said the Republican sweep is positive for all financial stocks due to increased growth, higher rates, lower taxes, and less regulation but downgraded BB&T due to relative valuation and sees risks to slower cost savings and increased competition.
11/14/16
MSCO
11/14/16
DOWNGRADE
MSCO
Underweight
BB&T downgraded to Underweight from Equal Weight at Morgan Stanley
JPM JPMorgan
$79.76

0.84 (1.06%)

11/18/16
11/18/16
INITIATION
Target $65

Underweight
American Express initiated with an Underweight at Stephens
As previously reported, Stephens analyst started American Express (AXP) with an Underweight rating and $65 price target, citing rising rates, shrinking markets as American Express ramps up rewards to maintain share, and the risk to 2017 EPS guidance. The analyst expects competition from bank peers, such as JPMorgan (JPM) and Citi (C), to continue to pressure American Express' earnings.
11/11/16
RBCM
11/11/16
NO CHANGE
RBCM
Banks to benefit from higher interest rates, says RBC Capital
RBC Capital believes that the Fed is committed to raising interest rates, and it expects FOMC members' forecast to show they expect two rate increases to occur in 2017. The firm expects higher rates to boost banks' net interest margin, raising their profits. It identifies Bank of America (BAC), JPMorgan (JPM), Citizens Financial (CFG),M&T Bank (MTB), and Regions Financial (RF) as being among the banks most likely to benefit from short-term rate increases.
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.
11/09/16
BARD
11/09/16
DOWNGRADE
Target $72
BARD
Neutral
JPMorgan downgraded to Neutral at Baird
As reported previously, Baird analyst David George downgraded JPMorgan to Neutral from Outperform. The analyst noted its outperformance and the higher re-rating of its valuation multiple. George believes investors should reduce their risk heading into a potential interest rate hike. He maintained his $72 price target on JPMorgan shares.
PNC PNC Financial
$110.45

1.19 (1.09%)

10/17/16
ARGS
10/17/16
UPGRADE
Target $98
ARGS
Buy
PNC Financial upgraded to Buy from Hold at Argus
Argus analyst Stephen Biggar upgraded PNC Financial to Buy with a $98 price target. The analyst said PNC is well positined to benefit from rising rates and it is making progress on a range of strategic initiatives, including expansion in the Southeast and in the Chicago area, where increased brand awareness has led to good growth in both retail and commercial banking. Further, Biggar said the company is benefiting from strong capital levels and a high loan-to-deposit ratio, and from its investment in BlackRock, which provides healthy recurring dividends.
10/25/16
BOFA
10/25/16
NO CHANGE
BOFA
PNC Financial added to US 1 List, First Republic removed at BofA/Merrill
10/17/16
10/17/16
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. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham. 2. AMD (AMD) upgraded to Perform from Underperform at Oppenheimer with analyst Rick Schafer citing lower balance sheet risk and improved near-term sales trends ahead of the company's third quarter results. 3. Groupon (GRPN) upgraded to Outperform from Neutral at Wedbush with analyst Aaron Turner saying he expects the company's "large valuation discrepancy" relative to peers to close following its third quarter earnings report. 4. Michael Kors KORS) upgraded to Mixed from Negative at OTR Global. 5. PNC Financial (PNC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar saying PNC is well positioned to benefit from rising rates and it is making progress on a range of strategic initiatives, including expansion in the Southeast and in the Chicago area, where increased brand awareness has led to good growth in both retail and commercial banking. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/29/16
KBWI
11/29/16
DOWNGRADE
Target $114
KBWI
Market Perform
PNC Financial downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Brian Klock downgraded PNC Financial to Market Perform citing valuation with the shares up 30% since August 15. The analyst raised his price target for the shares to $114 from $98.
STI SunTrust
$51.93

0.79 (1.54%)

11/15/16
STPT
11/15/16
DOWNGRADE
STPT
Hold
SunTrust downgraded to Hold from Buy at Standpoint Research
11/23/16
COMP
11/23/16
DOWNGRADE
COMP
Neutral
SunTrust downgraded to Neutral from Buy at Compass Point
11/18/16
WELS
11/18/16
DOWNGRADE
WELS
Market Perform
SunTrust downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Matthew Burnell downgraded SunTrust to Market Perform saying the stock will not outperform in a rising interest rate environment given the bank's "below-peer level of asset sensitivity." The analyst raised his price target range for the shares to $52-$54 from $49-$51.
11/23/16
COMP
11/23/16
DOWNGRADE
COMP
Neutral
SunTrust downgraded on valuation at Compass Point
As noted earlier, Compass Point downgraded SunTrust to Neutral from Buy. Analyst Scott Valentin downgraded the stock based on valuation. Target to $54 from $48.
BAC Bank of America
$20.84

0.62 (3.07%)

11/29/16
KBWI
11/29/16
UPGRADE
Target $23
KBWI
Outperform
Bank of America upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl upgraded Bank of America to Outperform citing expectations for improved operating and regulatory environments. The valuation remains reasonable despite the recent rally, Kleinhanzl tells investors in a research note. The analyst raised his price target for the shares to $23 from $17.50.
11/16/16
BARD
11/16/16
DOWNGRADE
BARD
Neutral
Bank of America downgraded to Neutral from Outperform at Baird
11/16/16
11/16/16
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. Sysco (SYY) downgraded to Neutral from Outperform at Credit Suisse with analyst Edward Kelly saying Sysco shares are up 50% over the last 18 months and now views risk/reward as balanced. 2. Teva (TEVA) downgraded to Hold from Buy at Jefferies, to Equal Weight from Overweight at Morgan Stanley, and to Neutral from Buy at BTIG. 3. Bank of America (BAC) Capital One (COF) downgraded to Neutral from Outperform at Baird while the firm downgraded Fifth Third (FITB) to Underperform from Neutral. 4. Zions Bancorp (ZION) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at Bernstein. 5. Yingli Green Energy (YGE) downgraded to Sell from Buy at Axiom while the firm downgraded SolarCity (SCTY) and JA Solar (JASO) to Sell from Hold. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/16/16
11/16/16
DOWNGRADE
Target $18

Neutral
Bank of America downgraded to Neutral from Outperform at Baird
As previously reported, Baird analyst David George downgraded Bank of America to Neutral from Buy as he believes the post-election rally has largely discounted the potential benefits of rising interest rates, lower taxes, and more aggressive capital return. George raised his price target to $18 from $17 on Bank of America shares.
C Citi
$56.42

0.9 (1.62%)

11/28/16
JEFF
11/28/16
DOWNGRADE
Target $63
JEFF
Hold
Citi downgraded to Hold from Buy at Jefferies
Jefferies analyst Ken Usdin downgraded Citi to Hold citing valuation with the shares up 12% post the U.S. election. The analyst raised his price target for the shares to $63 from $58.
CFG Citizens Financial
$33.20

0.81 (2.50%)

11/17/16
WEDB
11/17/16
DOWNGRADE
Target $31
WEDB
Neutral
Citizens Financial downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Peter Winter downgraded Citizens Financial Group to Neutral citing valuation following the recent share rally. The analyst raised his price target for the shares to $31 from $30.
11/16/16
BERN
11/16/16
DOWNGRADE
BERN
Market Perform
Citizens Financial downgraded on valuation at Bernstein
As noted earlier, Bernstein downgraded Citizens Financial to Market Perform from Outperform. Analyst Kevin St. Pierre downgraded the stock, along with several other mid-sized banks, based on valuation. He says that mid-cap bank stocks have risen 33% since their June trough, entirely based on multiple expansion ,and he "struggles to find compelling upside" in any of them at these historically high levels. Citizens Financial target to $32 from $29.
11/16/16
BERN
11/16/16
DOWNGRADE
BERN
Market Perform
Citizens Financial downgraded to Market Perform from Outperform at Bernstein
11/29/16
KBWI
11/29/16
UPGRADE
Target $36
KBWI
Outperform
Citizens Financial upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Klock upgraded Citizens Financial to Outperform to reflect his shift towards banks that have the best positioning in a rising rate environment. The analyst raised his price target for the shares to $36 from $27.
FHN First Horizon
$19.08

0.355 (1.90%)

09/26/16
HOVD
09/26/16
DOWNGRADE
HOVD
Market Perform
First Horizon downgraded to Market Perform from Outperform at Hovde Group
11/28/16
JEFF
11/28/16
UPGRADE
Target $22
JEFF
Buy
First Horizon upgraded to Buy from Hold at Jefferies
Jefferies analyst Casey Haire upgraded First Horizon National saying the shares do not fully reflect upside potential from a better environment for capital markets activity. The analyst raised his price target for the shares to $22 from $18.
08/23/16
WELS
08/23/16
DOWNGRADE
WELS
Underperform
First Horizon downgraded to Underperform from Market Perform at Wells Fargo
Wells Fargo analyst Jared Shaw downgraded First Horizon to Underperform saying premium valuation likely eliminates the company as a near-term seller and sees a chance of potential dilution if management acquires another institution.
01/11/16
01/11/16
UPGRADE

On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Underweight at JPMorgan... Air Products (APD) upgraded to Overweight from Sector Weight at KeyBanc... Amedisys (AMED) upgraded to Market Perform from Underperform at Raymond James... Ameriprise (AMP) upgraded to Outperform from Neutral at Credit Suisse... Analog Devices (ADI) upgraded to Outperform from Market Perform at Wells Fargo... Apple (AAPL) upgraded to Buy from Neutral at Mizuho... BAE Systems (BAESY) upgraded to Overweight from Neutral at JPMorgan... BNP Paribas (BNPQY) upgraded to Buy from Hold at Deutsche Bank... BNY Mellon (BK) upgraded to Conviction Buy from Neutral at Goldman... Banco Santander (SAN) upgraded to Outperform from Underperform at Exane BNP Paribas... Beiersdorf (BDRFF) upgraded to Neutral from Sell at Goldman... CEVA (CEVA) upgraded to Buy from Neutral at Ladenburg... Celanese (CE) upgraded to Buy from Neutral at SunTrust... Children's Place (PLCE) upgraded to Overweight at Morgan Stanley... Citizens Financial (CFG) upgraded to Buy from Neutral at Goldman... Clayton Williams (CWEI) upgraded to Market Perform from Underperform at Cowen... Concho Resources (CXO) upgraded to Outperform from Market Perform at Cowen... Crane (CR) upgraded to Buy from Hold at Vertical Research... Credit Agricole (CRARY) upgraded to Buy from Hold at Deutsche Bank... Denbury Resources (DNR) upgraded to Market Perform from Underperform at Cowen... Devon Energy (DVN) upgraded to Overweight from Equal Weight at Barclays... Discover (DFS) upgraded to Buy from Hold at Evercore ISI... Energen (EGN) upgraded to Outperform from Market Perform at Cowen... FS Investment (FSIC) upgraded to Buy from Hold at Cantor... First Horizon (FHN) upgraded to Buy from Hold at Evercore ISI... General Dynamics (GD) upgraded to Outperform from Market Perform at Cowen... General Motors (GM) upgraded to Outperform from Neutral at Credit Suisse... Genesco (GCO) upgraded to Overweight at Morgan Stanley... Hanesbrands (HBI) upgraded to Buy from Neutral at Nomura... Imperva (IMPV) upgraded to Buy from Neutral at Guggenheim... International Paper (IP) upgraded to Outperform from Sector Perform at RBC Capital... KeyCorp (KEY) upgraded to Buy from Neutral at Goldman... LVMH (LVMUY) upgraded to Neutral from Underperform at Credit Suisse... Laredo Petroleum (LPI) upgraded to Outperform from Market Perform at Cowen... Marathon Oil (MRO) upgraded to Overweight from Equal Weight at Barclays... Medifast (MED) upgraded to Buy from Neutral at Sidoti... Melco Crown (MPEL) upgraded to Overweight from Equal Weight at Morgan Stanley... Mellanox (MLNX) upgraded to Outperform on leverage to data growth at Credit Suisse... NASDAQ (NDAQ) upgraded to Neutral from Sell at Goldman... Newfield Exploration (NFX) upgraded to Outperform from Market Perform at Wells Fargo... OMA Airports (OMAB) upgraded to Neutral from Sell at Goldman... ONEOK (OKE) upgraded to Buy from Hold at Argus... Owens Corning (OC) upgraded on favorable risk/reward at RBC Capital... Patterson-UTI (PTEN) upgraded to Outperform from Market Perform at Wells Fargo... Pinnacle Foods (PF) upgraded to Outperform from Market Perform at BMO Capital... Pioneer Natural (PXD) upgraded to Equal Weight from Underweight at Barclays... RPC, Inc. (RES) upgraded to Outperform from Market Perform at Wells Fargo... RSP Permian (RSPP) upgraded to Outperform from Market Perform at Cowen... Rayonier Advanced Materials (RYAM) upgraded to Sector Perform from Underperform at RBC Capital... Regal-Beloit (RBC) upgraded to Overweight from Equal Weight at Morgan Stanley... Sanderson Farms (SAFM) upgraded to Overweight from Neutral at JPMorgan... Santander Mexico (BSMX) upgraded to Neutral from Underperform at BofA/Merrill... Southwest (LUV) upgraded to Equal Weight from Underweight at Morgan Stanley... Spectra Energy Partners (SEP) upgraded to Overweight from Equal Weight at Barclays... Superior Energy (SPN) upgraded to Outperform from Market Perform at Wells Fargo... Syntel (SYNT) upgraded to Neutral from Underweight at JPMorgan... U.S. Silica (SLCA) upgraded to Outperform from Market Perform at Wells Fargo... United Bankshares (UBSI) upgraded to Neutral at Boenning & Scattergood... Virtu Financial (VIRT) upgraded to Buy from Neutral at Goldman... Weatherford (WFT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Goldman... Whiting Petroleum (WLL) upgraded to Outperform from Market Perform at Wells Fargo... Wyndham (WYN) upgraded to Hold from Sell at Deutsche Bank.
FITB Fifth Third
$25.39

0.01 (0.04%)

11/18/16
COMP
11/18/16
DOWNGRADE
Target $25.5
COMP
Neutral
Fifth Third downgraded to Neutral from Buy at Compass Point
Compass Point analyst Scott Valentin downgraded Fifth Third to Hold and raised its price target to $25.50 from $23 on valuation and said Trumps victory has pushed bank stocks to new near-term highs.
11/16/16
BERN
11/16/16
DOWNGRADE
BERN
Market Perform
Fifth Third downgraded based on valuation at Bernstein
As noted earlier, Bernstein downgraded Fifth Third to Market Perform from Outperform. Analyst Kevin St. Pierre downgraded the stock, along with several other mid-cap banks, based on valuation. He says that mid-cap bank stocks have risen 33% since their June trough, entirely based on multiple expansion ,and he "struggles to find compelling upside" in any of them at these historically high levels. Fifth Third price target to $26 from $23.
11/16/16
BARD
11/16/16
DOWNGRADE
Target $21
BARD
Underperform
Fifth Third downgraded to Underperform from Neutral at Baird
Baird analyst David George downgraded Fifth Third to Underperform from Neutral as he thinks shares now reflect most of the benefit from the company's Project North Star efficiency program and that, more broadly, the post-election rally has largely discounted the potential benefits of rising interest rates, lower taxes, and more aggressive capital return in the bank space. However, he raised his price target for Fifth Third shares to $21 from $19.
KEY KeyCorp
$17.42

0.41 (2.41%)

11/21/16
STPT
11/21/16
DOWNGRADE
STPT
Hold
KeyCorp downgraded to Hold from Buy at Standpoint Research
11/29/16
KBWI
11/29/16
DOWNGRADE
Target $18
KBWI
Market Perform
KeyCorp downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Brian Klock downgraded KeyCorp to Market Perform citing valuation with the shares up 46% since May 15. The analyst raised his price target for the shares to $18 from $15.
11/16/16
BERN
11/16/16
DOWNGRADE
BERN
Market Perform
KeyCorp downgraded to Market Perform from Outperform at Bernstein
11/16/16
BERN
11/16/16
DOWNGRADE
BERN
Market Perform
KeyCorp downgraded based on valuation at Bernstein
As noted earlier, Bernstein downgraded KeyCorp to Market Perform from Outperform. Analyst Kevin St. Pierre downgraded the stock, along with several other mid-sized banks, based on valuation. He says that mid-cap bank stocks have risen 33% since their June trough, entirely based on multiple expansion ,and he "struggles to find compelling upside" in any of them at these historically high levels. KeyCorp target to $19 from $17.
MS Morgan Stanley
$41.32

0.72 (1.77%)

11/18/16
MACQ
11/18/16
DOWNGRADE
MACQ
Neutral
Citi downgraded to Neutral from Outperform at Macquarie
Macquarie analyst David Konrad downgraded Citi (C) to Neutral saying investors should shift exposure to names that have more leverage to capital markets and increased economic activity and away from global banks. He believes the valuations of global banks may "remain suppressed" amid decreased trade and currency volatility. The analyst has a $57 price target for the shares. Citi closed yesterday up 82c to $55.45. Konrad this morning also upgraded Goldman Sachs (GS) to Outperform and reiterated an Outperform rating on Morgan Stanley (MS).
10/06/16
SDLR
10/06/16
DOWNGRADE
Target $33
SDLR
Hold
Morgan Stanley downgraded to Hold from Buy at Sandler O'Neill
Sandler O'Neill analyst Jeffery Harte downgraded Morgan Stanley to Hold citing relative share outperformance and maintained his $33 price target on shares.
10/20/16
GUGG
10/20/16
UPGRADE
GUGG
Buy
Morgan Stanley upgraded to Buy from Neutral at Guggenheim
10/20/16
GUGG
10/20/16
UPGRADE
Target $39
GUGG
Buy
Morgan Stanley upgraded to Buy on improved mix at Guggenheim
As previously reported, Guggenheim upgraded Morgan Stanley to Buy from Neutral with a $39 price target. Analyst Eric Wasserstrom raised estimates to reflect improved revenue mix and operating leverage following the better than expected Q3 report. He believes improved mix of its business and asset composition will benefit Morgan Stanley's future CCAR stress tests and result in greater excess regulatory capital and views risk/reward as positive.
MTB M&T Bank
$142.55

2.46 (1.76%)

06/27/16
RBCM
06/27/16
NO CHANGE
RBCM
Some banks have reached attractive entry points, says RBC Capital
RBC Capital believes that banks may be hurt by the Fed's decision to delay raising interest rates in the wake of Brexit, and the firm admits that ucertainty regarding the EU membership of other countries could hurt U.S. banks going forward. However, the firm adds that "a silver lining" could be a boost to banks' fixed income businesses. Additionally, the firm thinks that the 10% decline in the shares of some banks "seems to be a bit premature," with the valuation of a number of banks falling to "low levels." It recommends that investors buy the following bank stocks: lBB&T (BBT), Huntington Bancshares (HBAN), JPMorgan (JPM), KeyCorp (KEY), M&T Bank (MTB), Northern Trust (NTRS), PNC Financial (PNC) and U.S. Bancorp (USB). The firm adds that "risk oriented investors should look to buy" Bank of America (BAC) and Citi (C).
07/05/16
PIPR
07/05/16
INITIATION
Target $119
PIPR
Neutral
M&T Bank assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Kevin Barker assumed coverage of M&T Bank with a Neutral rating and $119 price target.
10/06/16
WEDB
10/06/16
INITIATION
Target $117
WEDB
Neutral
M&T Bank initiated with a Neutral at Wedbush
Wedbush analyst Peter Winter initiated M&T Bank with a Neutral and a $117 price target.
RF Regions Financial
$13.52

0.335 (2.54%)

11/14/16
FBRC
11/14/16
UPGRADE
Target $15
FBRC
Outperform
Regions Financial upgraded to Outperform from Market Perform at FBR Capital
FBR Capital analyst Stephen Moss upgraded Regions Financial to Outperform and upped his price target for the shares to $15 from $10.50. The company has "more upside levers" than most banks in the new political environment, Moss tells investors in a research note.
11/16/16
PIPR
11/16/16
DOWNGRADE
Target $13
PIPR
Neutral
Regions Financial downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Kevin Barker downgraded Regions Financial to Neutral citing valuation. The analyst believes the stock has moved "too far, too fast." He raised his price target for Regions to $13 from $11.50.
11/28/16
JEFF
11/28/16
DOWNGRADE
Target $14
JEFF
Hold
Regions Financial downgraded to Hold from Buy at Jefferies
Jefferies analyst Ken Usdin downgraded Regions Financial to Hold citing valuation with the stock up 21% since November 8. The analyst raised his price target for the shares to $14 from $11.50.
USB U.S. Bancorp
$49.57

0.47 (0.96%)

11/28/16
JEFF
11/28/16
UPGRADE
Target $57
JEFF
Buy
U.S. Bancorp upgraded to Buy from Hold at Jefferies
Jefferies analyst Ken Usdin upgraded U.S. Bancorp to Buy citing the company's "consistent earnings performances" and "diversified income streams." The analyst raised his price target for the shares to $57 from $48.
11/14/16
MSCO
11/14/16
DOWNGRADE
MSCO
Underweight
U.S. Bancorp downgraded to Underweight from Equal Weight at Morgan Stanley
11/14/16
MSCO
11/14/16
DOWNGRADE
Target $49
MSCO
Underweight
U.S. Bancorp downgraded to Underweight on relative valuation at Morgan Stanley
As previously reported, Morgan Stanley upgraded U.S. Bancorp to Underweight from Equal Weight and raised its price target to $49 from $46. Analysts led by Betsy Graseck said the Republican sweep is positive for all financial stocks due to increased growth, higher rates, lower taxes, and less regulation but downgraded U.S. Bancorp citing relative valuation and sees risks of slower loan growth, deteriorating credit, lower fee growth, and declining NIM.
11/16/16
PIPR
11/16/16
DOWNGRADE
Target $48
PIPR
Neutral
U.S. Bancorp downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Kevin Barker downgraded U.S. Bancorp to Neutral saying the stock is fully valued following the recent rally. The analyst has a $48 price target for the shares.

TODAY'S FREE FLY STORIES

HIL

Hill International

09:31
12/05/16
12/05
09:31
12/05/16
09:31
Hot Stocks
Hill International receives $15.5M facilities management contract from ADNOC »

Hill International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MSFT

Microsoft

$59.25

0.05 (0.08%)

, GOOG

Alphabet

$750.50

2.58 (0.34%)

09:30
12/05/16
12/05
09:30
12/05/16
09:30
Periodicals
Microsoft's Home Hub to go beyond Google Home, Amazon Echo, Windows Central says »

Microsoft's rumored…

MSFT

Microsoft

$59.25

0.05 (0.08%)

GOOG

Alphabet

$750.50

2.58 (0.34%)

GOOGL

Alphabet Class A

$764.46

0.13 (0.02%)

AMZN

Amazon.com

$740.34

-3.31 (-0.45%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 15

    Jan

CLC

Clarcor

, PH

Parker-Hannifin

09:30
12/05/16
12/05
09:30
12/05/16
09:30
Recommendations
Clarcor, Parker-Hannifin analyst commentary  »

Clarcor price target…

CLC

Clarcor

PH

Parker-Hannifin

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 08

    Dec

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    Dec

  • 20

    Dec

ASUR

Asure Software

$8.48

0.21 (2.54%)

09:30
12/05/16
12/05
09:30
12/05/16
09:30
Hot Stocks
Asure Software appoints Eyal Goldstein as Chief Revenue Officer »

Asure Software announced…

03/08/13
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03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 12

    Dec

BDC

Belden

09:30
12/05/16
12/05
09:30
12/05/16
09:30
Earnings
Belden sees FY16 adjusted EPS $5.20-$5.30, consensus $5.24 »

Sees FY16 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

09:30
12/05/16
12/05
09:30
12/05/16
09:30
General news
Chicago Fed dove Evans sees growth picking up »

Chicago Fed dove Evans…

BDC

Belden

09:29
12/05/16
12/05
09:29
12/05/16
09:29
Earnings
Belden sees Q4 adjusted EPS $1.36-$1.46, consensus $1.40 »

Sees Q4 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

BDC

Belden

09:28
12/05/16
12/05
09:28
12/05/16
09:28
Hot Stocks
Breaking Hot Stocks news story on Belden »

Belden to confirm Q4,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

INWK

InnerWorkings

$9.20

0.25 (2.79%)

09:28
12/05/16
12/05
09:28
12/05/16
09:28
Hot Stocks
InnerWorkings, GateHouse Media announce multi-year affiliation »

InnerWorkings and…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 14

    Dec

STC

Stewart

09:28
12/05/16
12/05
09:28
12/05/16
09:28
Downgrade
Stewart rating change  »

Stewart downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MEET

MeetMe

09:27
12/05/16
12/05
09:27
12/05/16
09:27
Earnings
MeetMe sees FY revenue $74.5M-$76M, consensus $75.11M »

Adjusted EBITDA for the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

OPTT

Ocean Power

$3.23

0.04 (1.25%)

09:27
12/05/16
12/05
09:27
12/05/16
09:27
Hot Stocks
Ocean Power, Sonalysts announce joint marketing agreement »

Ocean Power Technologies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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GIMO

Gigamon

, VZ

Verizon

09:27
12/05/16
12/05
09:27
12/05/16
09:27
Recommendations
Gigamon, Verizon, AT&T, T-Mobile, Amazon.com analyst commentary  »

Gigamon setting up well…

GIMO

Gigamon

VZ

Verizon

T

AT&T

TMUS

T-Mobile

$54.44

0.18 (0.33%)

AMZN

Amazon.com

$740.34

-3.31 (-0.45%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

  • 05

    Dec

  • 07

    Dec

  • 07

    Dec

  • 13

    Dec

  • 24

    Jan

MEET

MeetMe

09:27
12/05/16
12/05
09:27
12/05/16
09:27
Earnings
MeetMe sees Q4 revenue $27.5M-$29M, consensus $28.2M »

Adjusted EBITDA for the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

MOS

Mosaic

09:26
12/05/16
12/05
09:26
12/05/16
09:26
Recommendations
Mosaic analyst commentary  »

Mosaic estimates lowered…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MEET

MeetMe

09:26
12/05/16
12/05
09:26
12/05/16
09:26
Hot Stocks
MeetMe reports U.S. mobile CPMs up 14% y/y in November »

MeetMe said that its…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

MEET

MeetMe

09:26
12/05/16
12/05
09:26
12/05/16
09:26
Hot Stocks
Breaking Hot Stocks news story on MeetMe »

MeetMe reiterates Q4, FY…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

MCD

McDonald's

09:26
12/05/16
12/05
09:26
12/05/16
09:26
Technical Analysis
McDonald's extends its recent recovery »

The stock was last at…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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FRP

FairPoint

$17.00

0.25 (1.49%)

, CNSL

Consolidated Communications

$28.38

0.11 (0.39%)

09:25
12/05/16
12/05
09:25
12/05/16
09:25
Hot Stocks
On The Fly: Pre-market Movers »

FairPoint Communications…

FRP

FairPoint

$17.00

0.25 (1.49%)

CNSL

Consolidated Communications

$28.38

0.11 (0.39%)

CHK

Chesapeake

BLCM

Bellicum Pharmaceuticals

$18.72

1.74 (10.25%)

MRVL

Marvell

$14.02

0.04 (0.29%)

KITE

Kite Pharma

$50.76

0.04 (0.08%)

CERC

Cerecor

$1.75

-0.24 (-12.06%)

ETP

Energy Transfer Partners

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

  • 05

    Dec

  • 05

    Dec

  • 14

    Dec

ICE

IntercontinentalExchange

09:25
12/05/16
12/05
09:25
12/05/16
09:25
Hot Stocks
IntercontinentalExchange reports November futures ADV up 12% »

Intercontinental Exchange…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 06

    Dec

QURE

uniQure

$5.68

-0.31 (-5.18%)

09:25
12/05/16
12/05
09:25
12/05/16
09:25
Conference/Events
uniQure to host investor breakfast meeting »

Investor breakfast…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

  • 08

    Dec

BSFT

BroadSoft

$40.30

-0.35 (-0.86%)

09:25
12/05/16
12/05
09:25
12/05/16
09:25
Conference/Events
BroadSoft to host investor day »

Investor Day to be held…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

SSNLF

Samsung

09:23
12/05/16
12/05
09:23
12/05/16
09:23
Conference/Events
Samsung management to meet with JPMorgan »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

  • 06

    Dec

  • 07

    Dec

  • 08

    Dec

NEM

Newmont Mining

09:22
12/05/16
12/05
09:22
12/05/16
09:22
Technical Analysis
Newmont Mining falls in pre-market »

The shares were last down…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MSCC

Microsemi

$52.95

0.32 (0.61%)

, INTC

Intel

$34.16

0.4 (1.18%)

09:22
12/05/16
12/05
09:22
12/05/16
09:22
Recommendations
Microsemi, Intel analyst commentary  »

Microsemi price target…

MSCC

Microsemi

$52.95

0.32 (0.61%)

INTC

Intel

$34.16

0.4 (1.18%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

  • 07

    Dec

  • 14

    Dec

  • 14

    Feb

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