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Workday reports Q3 EPS 3c, consensus (4c)
Reports Q3 revenue $409.6M, consensus $400.44M..
On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Workday (WDAY) upgraded to Neutral from Underperform at Wedbush with analyst Steve Koenig citing second-half 2016 sales potential, following a first-half which he thinks wasn't as good as generally perceived. 2. Dillard's (DDS) upgraded to Outperform from Neutral at Credit Suisse with analyst Michael Exstein citing the company's consistency in capital allocation and its valuation, which he says is at the low end of its historic trading range. 3. Cypress Energy (CELP) upgraded to Buy from Hold at Stifel analyst Michael Hoffman saying the CEO is upbeat on the company's outlook and its ability to maintain its distribution at current levels. 4. Huntington Bancshares (HBAN) upgraded to Buy from Hold at Deutsche Bank with analyst Matt O'Connor saying the 15% pullback in the shares since the FirstMerit (FMER) deal was announced is overdone. 5. Hi-Crush Partners (HCLP) upgraded to Neutral from Sell at UBS with analyst Shneur Gershuni saying recent commentary from oil field service companies indicate an increase in sand demand and intensity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
Workday price target raised to $100 from $90 at Oppenheimer
Oppenheimer analyst Brian Schwartz raised his price target for Workday to $100 saying his customer survey makes him "increasingly comfortable" with the company's current business momentum. The analyst is "optimistic "about bookings and growth trends and sees low risk to estimates. Schwartz continues to view Workday as top 2016 pick with an Outperform rating.
Workday price target raised to $110 from $98 at Canaccord
Canaccord analyst Richard Davis raised his price target on Workday to $110 from $98 as the company has grown into its current valuation and the stock will continue to advance on a sustainable basis in a bullish environment. Davis reiterated his Buy rating on Workday shares.
Piper sees ServiceNow Q3 earnings report as catalyst
Piper Jaffray analyst Alex Zukin says his recent conversations with industry partners indicate "strong" renewal and net new business in ServiceNow's (NOW) Q3. He expects the company to outperform consensus expectations. Zukin sees the earnings report as a catalyst and points out that shares of ServiceNow are down 12% year-to-date while trading at a 14% discount to Workday (WDAY). The analyst reiterates an Overweight rating on ServiceNow with a $90 price target.
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