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BA

Boeing

$156.49

1.1 (0.71%)

, AMZN

Amazon.com

$768.66

1.33 (0.17%)

16:35
12/09/16
12/09
16:35
12/09/16
16:35

On The Fly: Stocks end week at record highs ahead of Fed meeting

The Dow, the Nasdaq and the S&P all finished higher in every day of this week, which was a feat the three major averages had not accomplished in five years. The indexes all finished the week at fresh all-time records as the post-election "Trump rally" regained momentum ahead of the Federal Reserve meeting next week. MACRO NEWS: In the U.S., Markit's services PMI dipped to 54.6 in the final November print. The ISM non-manufacturing index rose 2.4 points to 57.2 in November. The Labor Market Conditions Index rose 1.5 points in November. The international trade deficit widened in October to $42.6B. Third quarter productivity growth remained estimated at a 3.1% rate. Factory orders climbed 2.7% in October. The JOLTS report indicated that job openings fell 97,000 to 5.53M in October. Initial jobless claims fell 10,000 to 258,000 in the week ended December 3. December consumer sentiment surged 4.2 points to 98.0 in preliminary print from the University of Michigan survey. Wholesale sales rose 1.4% in October, while inventories fell 0.4%... In Europe, the European Central Bank announced a continuation of its asset-buying program, although a reduced pace of purchases is set to start from April next year. Benchmark interest rates were left unchanged, as expected. The PMI for the Eurozone's manufacturers and service providers rose to 53.9 in November. Eurozone retail sales grew by 1.1% in October. GDP for the Eurozone grew 0.3% on a quarterly basis. In Italy, 60% of Italians voted against the constitutional reforms promoted by Prime Minister Matteo Renzi to scrap the Senate of many of its legislative powers and modernize the country's institutional framework... In Asia, in a surprise move, the Reserve Bank of India left rates unchanged at its meeting. The RBI was expected to cut rates at least 25bp, and potentially 50bp. Japan cut its reading of third quarter economic growth to an annualized 1.3%. China's total FX reserves fell to $3.051T in November. Chinese trade data for November showed that exports rose 0.1%, while imports rose 6.7%. China's producer prices rose 3.3% in November, while consumer inflation picked up more than expected to 2.3% from a year earlier. COMPANY NEWS: Time magazine announced that Donald Trump has been named its Person of the Year for 2016. Speaking with the publication, the President-elect talked about the drug industry, suggesting that some stock analysts may have misinterpreted his intentions and vowed that he is "going to bring down drug prices." Johnson & Johnson (JNJ), Merck (MRK), Eli Lilly (LLY), Novartis (NVS), Pfizer (PFE), Celgene (CELG), Biogen (BIIB) and Amgen (AMGN) were among the stocks trading lower following the release of Time's interview... Boeing (BA) made headlines after Donald Trump tweeted that the latest Air Force One order should be canceled. Speaking briefly at Trump tower, the President-elect cited the high costs of converting the Boeing jumbo jet for presidential use as the reason for a possible deal cancelation. The President-elect also met with SoftBank (SFTBF) CEO and Sprint (S) chairman Masayoshi Son at Trump Tower. Following the visit, Trump said in a tweet that Masayoshi has agreed to invest $50B in the U.S. and create 50,000 new jobs. Speaking in a Wall Street Journal interview after, the SoftBank CEO said that the pledge of a $50B U.S. investment will come from his company's previously-announced $100B tech investment fund. Son noted that he likes Trump "very much," and declined to comment on his current interest in T-Mobile (TMUS), the report noted... Amazon (AMZN) announced Amazon Go, a new kind of store with no registers and no checkout required. In the test store format, which will open to the public in early 2017, shoppers scan as they go with their Amazon Go app, shop as normal, and leave the store with the items billed to their Amazon.com account... The Coca-Cola Company (KO) announced that its CEO Muhtar Kent will step down in May 2017 and will be succeeded by James Quincey, the company's president and COO... Under Armour (UA) and Major League Baseball announced a 10-year partnership that names the athleticwear maker as the official uniform provider to MLB... In M&A news, Verizon (VZ) announced a deal to sell a portfolio of 24 data center sites and their operations to Equinix (EQIX) for $3.6B in cash. Consolidated Communications (CNSL) agreed to acquire FairPoint Communications (FRP) in an all-stock merger transaction valued at approximately $1.5B, including debt. Roper Technologies (ROP) announced that it has entered into a definitive agreement to acquire Deltek from private equity firm Thoma Bravo in an all cash transaction valued at $2.8B. Synchronoss Technologies (SNCR) entered into a definitive agreement to acquire Intralinks Holdings (IL) for approximately $821M in equity value. Additionally, Synchronoss announced an agreement to divest a portion of its activation business to Sequential Technology International. Abbott (ABT) announced that it has filed a complaint to terminate its proposed acquisition of Alere (ALR) based on the substantial loss in the latter's value since the time of their merger agreement. The Independent Directors of Sky plc (SKYAY) announced that the company has received an approach from 21st Century Fox (FOX, FOXA), agreeing on an offer price of GBP10.75 per share in cash. Stillwater Mining (SWC) agreed to be acquired by Sibanye Gold (SBGL) for $18 per share in cash, representing an aggregate enterprise value of $2.2B... Among companies that announced quarterly results this week, Bob Evans Farms (BOBE), Francesca's (FRAN), Dave & Buster's (PLAY), lululemon (LULU), Tailored Brands (TLRD), Costco (COST), and Broadcom (AVGO) advanced following their reports, while Michaels (MIK), Vera Bradley (VRA), Oxford Industries (OXM), Sears Holdings (SHLD), and H&R Block (HRB), declined. INDEXES: For the week, the Dow rose 3.06% to 19,756.85, the Nasdaq advanced 3.58% to 5,444.50, and the S&P 500 gained 3.08% to 2,259.53.

BA

Boeing

$156.49

1.1 (0.71%)

AMZN

Amazon.com

$768.66

1.33 (0.17%)

UA

Under Armour

$28.81

-0.01 (-0.03%)

SFTBF

SoftBank

$68.31

-0.532 (-0.77%)

S

Sprint

$8.48

-0.26 (-2.97%)

TMUS

T-Mobile

$56.74

-1.81 (-3.09%)

JNJ

Johnson & Johnson

$112.26

1.27 (1.14%)

MRK

Merck

$61.23

1.11 (1.85%)

LLY

Eli Lilly

$67.85

0.66 (0.98%)

NVS

Novartis

$69.74

2.15 (3.18%)

PFE

Pfizer

$31.70

0.76 (2.46%)

CELG

Celgene

$113.39

0.33 (0.29%)

BIIB

Biogen

$287.75

-1.79 (-0.62%)

AMGN

Amgen

$143.45

2.86 (2.03%)

MYL

Mylan

$36.51

0.45 (1.25%)

ESRX

Express Scripts

$72.48

1.73 (2.45%)

KO

Coca-Cola

$42.00

1.02 (2.49%)

CNSL

Consolidated Communications

$27.38

-0.25 (-0.90%)

FRP

FairPoint

$19.05

-0.2 (-1.04%)

VZ

Verizon

$51.49

0.36 (0.70%)

EQIX

Equinix

$346.03

-0.43 (-0.12%)

ROP

Roper Technologies

$185.80

2.51 (1.37%)

SNCR

Synchronoss

$41.21

0.42 (1.03%)

IL

Intralinks

$13.09

0.04 (0.31%)

ABT

Abbott

$39.20

0.52 (1.34%)

ALR

Alere

$37.58

0.23 (0.62%)

SKYAY

Sky

$49.95

10.29 (25.95%)

FOX

21st Century Fox

$27.92

-0.56 (-1.97%)

FOXA

21st Century Fox

$28.21

-0.43 (-1.50%)

SWC

Stillwater Mining

$17.32

2.64 (17.98%)

SBGL

Sibanye Gold

$7.10

-1.26 (-15.07%)

BOBE

Bob Evans

$54.64

-0.13 (-0.24%)

FRAN

Francesca's

$21.19

-1.07 (-4.81%)

PLAY

Dave & Buster's

$57.18

0.56 (0.99%)

LULU

lululemon

$69.30

0.46 (0.67%)

TLRD

Tailored Brands

$27.18

0.92 (3.50%)

COST

Costco

$159.70

2.11 (1.34%)

AVGO

Broadcom

$179.09

8.38 (4.91%)

MIK

Michaels

$23.53

-0.23 (-0.97%)

VRA

Vera Bradley

$12.95

0.13 (1.01%)

OXM

Oxford Industries

$62.74

0.33 (0.53%)

SHLD

Sears

$11.93

-0.83 (-6.50%)

HRB

H&R Block

$22.95

0.16 (0.70%)

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BA Boeing
$156.49

1.1 (0.71%)

10/28/16
10/28/16
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. L-3 Communications (LLL) initiated with an Outperform at Baird and a Hold at Vertical Research. 2. Twilio (TWLO) initiated with a Neutral at MUFG. 3. Cotiviti Holdings (COTV) assumed with an Overweight at JPMorgan. 4. Raytheon (RTN) and General Dynamics (GD) were initiated with a Buy at Vertical Research while the firm initiated Boeing (BA) and Northrop Grumman (NOC) with a Hold. 5. Allscripts (MDRX) assumed with an Overweight at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/08/16
MSCO
12/08/16
NO CHANGE
MSCO
Boeing could raise dividend 20%-50%, says Morgan Stanley
Morgan Stanley analyst Rajeev Lalwani estimates that Boeing could announce a 20%-50% dividend increase during its upcoming annual dividend update. His base case estimate is a 30% hike, and he thinks that the increase could possibly trigger a "re-rating" of the stock.The analyst keeps a $155 price target and an Overweight rating on the shares.
10/28/16
VERT
10/28/16
INITIATION
VERT
Hold
Boeing initiated with a Hold at Vertical Research
11/28/16
BERN
11/28/16
NO CHANGE
BERN
Boeing new executive to bring outside perspective, says Bernstein
Bernstein analyst Douglas Hamed says that the new CEO of Boeing Commercial Aircraft, Kevin McAllister, "should bring a perspective about competitors and aircraft services that Boeing (BA) lacks today," since he has been working at GE (GE). The analyst notes that Boeing's commercial unit has to make new decisions about its platform and is looking to launch a new services business. McAllister keeps a $176 price target and an Outperform rating on Boeing.
AMZN Amazon.com
$768.66

1.33 (0.17%)

12/07/16
ROTH
12/07/16
NO CHANGE
ROTH
Google Home Service Ads expansion could increase sector risk, says Roth Capital
Roth Capital analyst Darren Aftahi says that, according to 949Local, Google (GOOGL; GOOG) has plans to expand its Home Services Ads to Los Angeles and then nationwide by the end of 2017. The analyst believes Google's move, along with recent announcements by Facebook (FB) and Amazon (AMZN) further validates the space, but also increases competitive risk to Angie's List (ANGI) and Yelp (YELP).
12/07/16
JPMS
12/07/16
UPGRADE
Target $910
JPMS
Overweight
AutoZone upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Christopher Horvers upgraded AutoZone (AZO) to Overweight citing improved fundamentals and expectations for comp acceleration amid easier comparisons. Sentiment of Amazon (AMZN) risk has become a "consensus thesis for bears" and will help push AutoZone higher if comps accelerate to 3% in two quarters, Horvers tells investors in a research note. He upped his price target for the shares to $910 from $808.
12/08/16
COWN
12/08/16
NO CHANGE
Target $1050
COWN
Outperform
Cowen names Amazon as a best idea for 2017
Cowen analyst John Blackledge named Amazon as one of the firm's "Best Ideas For 2017" as the company continues to take share in "non-core" retail markets. Apparel, consumables, and grocery represent about a $1.5T addressable market in the U.S. alone, and with only about 3% share in those markets Amazon has "a lot of runway ahead," Blackledge tells investors. The company also has a large international opportunity while AWS is well positioned to benefit from the continued migration to the cloud, said Blackledge, who keeps an Outperform rating and $1,050 price target on Amazon shares.
12/08/16
SBSH
12/08/16
NO CHANGE
SBSH
Citi replaces Amazon with Alphabet as top U.S. Internet pick
Citi analyst Mark May replaced Amazon.com (AMZN) with Alphabet (GOOGL, GOOG) as his top stock pick in the U.S. Internet space. Recent channel checks suggest Alphabet's core search growth may not slow as much as most are forecasting, which could drive upside to Q4 and 2017 estimates, May tells investors in a research note. He believes Pixel handset sales could also drive revenue upside. Facebook (FB) is May's second pick in the sector with Amazon moving to third.
UA Under Armour
$28.81

-0.01 (-0.03%)

10/26/16
RHCO
10/26/16
NO CHANGE
RHCO
Under Armour 'fundamentals intact,' says SunTrust
After Under Armour cut its long-term operating income guidance, SunTrust analyst Pamela Quintiliano says that the reduced guidance reflects increased investments and a negative mix shift to footwear and international. However, the analyst thinks that the company's fundamentals remain intact. Moreover, she thinks that the company will benefit from colder weather this winter than in winter 2015, as well as its entrance into Kohl's (KSS) and product innovations. She cut her price target to $40 from $55 but keeps a Buy rating on the stock.
10/26/16
ATLE
10/26/16
DOWNGRADE
ATLE
Neutral
Under Armour downgraded to Neutral from Overweight at Atlantic Equities
12/06/16
COWN
12/06/16
DOWNGRADE
Target $54
COWN
Market Perform
Nike cut to Market Perform on possible worsening of market share loss at Cowen
As reported previously, Cowen analyst John Kernan downgraded Nike (NKE) to Market Perform from Outperform citing the potential for share losses to competitors Under Armour (UA) and adidas (ADDYY) to accelerate. He also cites Nike's elevated inventories and higher promotion levels in North America. The analyst sees a risk to guidance for the second half of 2017. Kernan lowered his price target to $54 from $59 on Nike shares.
12/02/16
OTRG
12/02/16
NO CHANGE
OTRG
Under Armour planning Family Footwear channel expansion, says OTR Global
OTR Global said Under Armour is planning to open distribution to the Family Footwear channel in June, starting with Famous Footwear.
SFTBF SoftBank
$68.31

-0.532 (-0.77%)

08/23/16
08/23/16
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. Square (SQ) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying he now feels more confident in the company's growth and profitability outlook and its competitive position following three quarters of consistent execution. 2. BHP Billiton (BHP) upgraded to Buy from Hold at Jefferies with analyst Christopher LaFemina saying he believes fundamentals have "clearly improved," citing supply that has declined in most cases and demand that has stabilized. 3. SoftBank (SFTBF) upgraded to Overweight from Neutral at JPMorgan with analyst Jun Tanabe citing improved earnings at Sprint (S), the growth in value of its stake in Alibaba (BABA), and the stability of cash flow in its domestic mobile business. 4. Allscripts (MDRX) upgraded to Outperform from Market Perform at Leerink with analyst David Larsen saying he believes that the company's core fundamentals are improving "significantly." 5. Westlake Chemical (WLK) upgraded to Outperform from Sector Perform at RBC Capital with analyst Arun Viswanathan saying that the company's merger with Axiall (AXLL) "creates a new way to play chlor-alkali," as well as synergies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/23/16
JPMS
08/23/16
UPGRADE
JPMS
Overweight
SoftBank upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jun Tanabe upgraded SoftBank (SFTBF) to Overweight from Neutral and raised his price target on the stock to Y9,930 from Y6,500, citing improved earnings at Sprint (S), the growth in value of its stake in Alibaba (BABA), and the stability of cash flow in its domestic mobile business.
12/07/16
OPCO
12/07/16
NO CHANGE
Target $70
OPCO
Outperform
T-Mobile price target raised to $70 from $55 at Oppenheimer
Oppenheimer analyst Timothy Horan raised his price target for T-Mobile (TMUS) to $70 from $55 as he views it as the best way to play the deregulatory/technology driven consolidation. The analyst notes that President-Elect Trump met with Masayoshi Son of SoftBank (SFTBF), who agreed to invest $50B in the U.S. Horan believes the meeting will likely be a precursor to a Sprint (S)/T-Mobile/Dish (DISH) merger to create a discounted quad-play service company. The analyst reiterates an Outperform rating on T-Mobile' shares, and points out that the company has improved its network and taken share from AT&T (T)/Verizon (VZ).
S Sprint
$8.48

-0.26 (-2.97%)

10/13/16
MACQ
10/13/16
NO CHANGE
MACQ
DISH the 'big winner" in Sprint's spectrum value, says Macquarie
Macquarie analyst Amy Yong said Sprint's creation of of spectrum-leaseback transactions has boosted the company's liquidity position by up to $7B and finally placed an implied value to its spectrum portfolio of $117B. The analyst raised Sprint's price target to $8 from $7 but said the "big winner" is Dish (DISH) where Sprint's spectrum value at $1.85/MHz-PoP implies upside to her $66 price target and brings her valuation for DISH closer to $94 per share.
09/20/16
PIPR
09/20/16
NO CHANGE
PIPR
Overweight
Piper survey shows decline in iPhone upgrade interest
Piper Jaffray analyst Gene Munster says his firm's survey of 403 U.S. iPhone owners suggests that interest in an iPhone 7 upgrade declined after the announcement of the device. The data contradicts "generally positive" initial demand indicators including from carriers including T-Mobile (TMUS) and Sprint (S), Munster tells investors in a research note. The analyst questions iPhone 7 demand into Apple's (AAPL) March and June quarters but remains confident in his thinking for flattish growth for iPhone 7 versus iPhone 6. Munster reiterates an Overweight rating on Apple.
11/21/16
DBAB
11/21/16
NO CHANGE
DBAB
Buy
Deutsche says buy American Tower, Crown Castle after pullbacks
Deutsche Bank analyst Matthew Niknam recommends buying shares of American Tower (AMT) and Crown Castle (CCI) following the recent selloffs. The analyst thinks estimates have bottomed, fundamentals are "very strong" and that fears of a possible Sprint (S) and T-Mobile (TMUS) merger are overblown.
TMUS T-Mobile
$56.74

-1.81 (-3.09%)

11/02/16
MSCO
11/02/16
NO CHANGE
Target $60
MSCO
Overweight
T-Mobile price target raised to $60 from $58 at Morgan Stanley
Morgan Stanley analyst Simon Flannery raised T-Mobile's price target to $60 following the Q3 report citing progress in subscriber growth. He believes 2016 guidance remains conservative and that the company can sustain strong long-term subscriber growth and reiterates his Overweight rating.
12/05/16
NEED
12/05/16
NO CHANGE
Target $58
NEED
Buy
Gigamon setting up well for the next 12-24 months, says Needham
Needham analyst Alex Henderson believes Gigamon (GIMO) looks to be setting up well for the next 12-24 months, and believes its investors can look forward to a "sharp expansion" in Service Provider on the heels of the Verizon (VZ) win and continued expansion at AT&T (T) and T-Mobile (TMUS). Moreover, the analyst anticipates a rebound in Europe as the new sales head revitalizes growth into CY2H, and expects "strong growth" in cloud as the Amazon (AMZN) Web Services platform starts to ramp in 2H17 and into CY18. Additionally, Henderson thinks Gigamon is likely to "strongly beat" the Q4 quarter. He reiterates a Buy rating and $58 price target on Gigamon's shares.
JNJ Johnson & Johnson
$112.26

1.27 (1.14%)

11/29/16
LEHM
11/29/16
DOWNGRADE
Target $125
LEHM
Equal Weight
Johnson & Johnson downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoff Meacham downgraded Johnson & Johnson to Equal Weight and lowered its price target to $125 from $130. The analyst said risk/reward is less compelling and said shares could become a source of funds due to Remicade biosimilar risk, slowing med tech utilization, reduced pipeline impact, and a move away from defensive names.
12/02/16
GSCO
12/02/16
NO CHANGE
Target $82
GSCO
Buy
Jardiance CV death risk reduction indication a positive for Lilly, says Goldman
Goldman Sachs analyst Jami Rubin said his estimate, and the current consensus estimate, for Jardiance sales assumed that Eli Lilly (LLY) would get a new indication for Jardiance to reduce the risk of cardiovascular death in type 2 diabetes patients, but he still views the news as positive for sentiment given some investor nervousness and the recent solanezumab disappointment. The indication differentiates Jardiance from Johnson & Johnson's (JNJ) Invokana and AstraZeneca's (AZN) Farxiga, adds Rubin, who has a Buy rating and $82 price target on Lilly shares.
11/29/16
11/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
On The Fly: Top five analyst downgrades: 1. Wendy's (WEN) downgraded to Neutral from Buy at Goldman with analyst Karen Holthouse citing valuation with the stock up 23% over the past month. 2. SAIC (SAIC) downgraded to Neutral from Buy at Citi with analyst Jonathan Raviv citing the recent rally in the shares and some overhang from the pending contract transition. 3. BioMarin (BMRN), Johnson & Johnson (JNJ), and Vertex (VRTX) were downgraded to Equal Weight from Overweight at Barclays. 4. Nivalis Therapeutics (NVLS) downgraded to Market Perform Raymond James, to Hold from Buy at Stifel, to Market Perform from Outperform at Cowen, and to Neutral from Outperform at Baird. 5. U.S. Steel (X) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/16
WELS
11/28/16
NO CHANGE
WELS
Actelion could be acquired for $215 per share, says Wells Fargo
After Johnson & Johnson (JNJ) said that it's in preliminary talks about a deal with Actelion (ALIOF), Wells Fargo estimates that J&J could buy Actelion for $215 per share. The firm thinks that other bidders could emerge for Actelion. It estimates that the deal could be accretive to J&J's EPS by about 5%. Wells keeps an Outperform rating on J&J.
MRK Merck
$61.23

1.11 (1.85%)

10/25/16
RHCO
10/25/16
NO CHANGE
RHCO
Merck shares should be bought after early FDA approval, says SunTrust
After Merck announced that the FDA had approved the company's Keytruda treatment for the first-line metastatic non-small cell lung cancer with tumor proportion scores of 50% or higher, SunTrust analyst John Boris says that such patients represent about 30% "of the prevalent first-line population." He adds that the approval was earlier than expected and gives Keytruda an approximately 15 month lead over competing drugs in NSCLC. The analyst thinks that the early approval will enable the company's 2021 revenue to beat expectations by a significant amount, and he recommends buying the stock on the news.
10/13/16
10/13/16
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. Merck (MRK) upgraded to Buy from Neutral at BofA/Merrill with analyst Colin Bristow citing its opportunity in first line lung cancer. 2. Viacom (VIA, VIAB) upgraded to Market Perform from Underperform at Wells Fargo and to Buy from Underperform at BofA/Merrill. 3. TD Ameritrade (AMTD) and Charles Schwab (SCHW) were upgraded to Buy from Neutral at BofA/Merrill. 4. Talend (TLND) upgraded to Buy from Neutral at Goldman with analyst Jesse Hulsing saying the company will benefit from analytic workloads moving to the cloud. 5. CSC (CSC) upgraded to Buy from Neutral 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.
10/19/16
LEER
10/19/16
NO CHANGE
LEER
Roche Tecentriq approval increases competition, says Leerink
Leerink analyst Seamus Fernandez says that the FDA approval of Roche's (RHHBY) Tecentriq in second-line non-small cell lung cancer patients regardless of PD-L1 expression comes as no surprise given its previously reported overall survival advantage. Nonetheless, the analyst believes it creates new competition for Bristol-Myers' (BMY) Opdivo and Merck's (MRK) Keytruda in this setting.
10/24/16
RHCO
10/24/16
NO CHANGE
RHCO
Merck Keytruda to have several positive catalysts, says SunTrust
SunTrust analyst John Boris says that several trials of Merck's Keytruda will be stopped early "across multiple tumor types," providing a positive catalyst. Boris says that Keytruda should be approved for 1LNSCLC on or before December 24 and KN-21 chemo combo compendium listing in 1H17. He keeps a $73 price target and Buy rating on Merck.
LLY Eli Lilly
$67.85

0.66 (0.98%)

12/02/16
EVER
12/02/16
NO CHANGE
EVER
Hold
Eli Lilly expanded indication bodes well for Jardiance growth, says Evercore ISI
Evercore ISI analyst John Scotti said the FDA approval of Jardiance's sNDA for the reduction of CV mortality allows Eli Lilly's salesforce to directly promote the CV death indication, which he believes bodes well for the growth of the Jardiance franchise. The company, which has maintained that updates to the label and treatment guidelines expected in 2017 are likely to cause an inflection in the drug's sales, said the updated label should be on-line by next week, added Scotti, who has a Hold rating on Lilly shares.
12/09/16
COWN
12/09/16
NO CHANGE
Target $368
COWN
Outperform
Alzheimer's meeting essentially a 'best case' for Biogen, says Cowen
Cowen analyst Eric Schmidt noted Biogen (BIIB) and Eli Lilly (LLY) each released antibody datasets at the Clinical Trials on Alzheimer's Disease meeting, which increased his optimism in the antibody hypothesis. The data showed Biogen's aducanumab to be safe and efficacious, said Schmidt, who estimates the drug's chances of success in Phase 3 at around 60%. Schmidt, who said he sees the possibility that this drug could be one of the largest the industry has ever seen, reiterated his Outperform rating and $368 price target on Biogen shares.
12/09/16
RBCM
12/09/16
NO CHANGE
RBCM
Biogen has positive read through on Lilly data, says RBC Capital
RBC Capital analyst Michael Yee says that Eli Lilly's (LLY) Alzheimer's drug, Solanezumab, performed better than expected in a clinical trial. After investors thought that the drug was "a total disappointment" following Lilly's announcement that it had missed its primary endpoint, additional data showed that the treatment improved "several clinical cognitive and functional endpoints " by 7%-15% versus placebo, while the primary endpoint improvement was statistically significant during weeks 28-64, although not at the end of the 80 week trial, Yee reported. Based on the data, the analyst thinks that "a better...more potent drug" like Biogen's (BIIB) Alzheimer's treatment, aducanumab "is more likely to work." He keeps an Outperform rating on Biogen.
NVS Novartis
$69.74

2.15 (3.18%)

12/05/16
MAXM
12/05/16
NO CHANGE
Target $77
MAXM
Buy
Kite Pharma BLA submission a milestone for entire CAR-T space, says Maxim
Maxim analyst Jason McCarthy noted that Kite Pharma's rolling BLA submission for KTE-C19 for the treatment of relapsed/refractory non-Hodgkin lymphoma is the first BLA filed for a CAR-T therapy, calling the event "a milestone not just for Kite but for the entire CAR-T space." In a survey of 100 doctors, over two-thirds said they believe CAR-T could change how they treat lymphoma and 86% were impressed with the ZUMA-1 data, noted McCarthy, who added that Kite has also received positive feedback from payers. He keeps a Buy rating and $77 price target on Kite shares.
11/30/16
RHCO
11/30/16
NO CHANGE
RHCO
GlycoMimetics has positive read through from deal, says SunTrust
SunTrust analyst Yatin Suneja says that Novartis' (NVS) recent acquisition of Selexys Pharmaceuticals "provides further clinical and commercial validation for the selectin class of adhesion molecules as meaningful therapeutic targets." The analyst notes that the acquisition came after Selexys' SelG1, which utilizes a P-selectin antibody, showed positive Phase II data in sickle cell disease. GlycoMimetics (GLYC) develops selectin antagonists. The analyst expects interest in the name to accelerate as more data is announced. Suneja keeps a Buy rating on the shares.
12/01/16
LEER
12/01/16
NO CHANGE
LEER
Outperform
bluebird bio data looks 'impressive,' says Leerink
Leerink analyst Michael Schmidt notes that bluebird bio (BLUE) announced first clinical data from its ongoing Phase I study of anti-BCMA CAR-T product candidate "bb2121" in relapsed/refractory multiple myeloma, and says it looks 'impressive." While he cautions that the data is still "somewhat immature," the early results justify the high level of excitement around the potential of anti-BCMA CAR-T therapy in relapsed/ refractory myeloma, as several other companies including Juno Therapeutics (JUNO), Kite Pharma (KITE) and Novartis (NVS) have stated plans to also develop anti-BCMA-CART product candidates. Schmidt reiterates an Outperform rating on bluebird bio's shares.
11/10/16
11/10/16
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. Priceline (PCLN) upgraded to Buy from Hold at Stifel while the firm upgraded Expedia (EXPE) to Hold from Sell. 2. IBM (IBM) upgraded to Buy from Neutral at BofA/Merrill with analyst Wamsi Mohan expecting 2017 profits to grow as earnings have stabilized and negative revisions are unlikely and expects tailwinds from moderating pace of investments and savings from restructuring efforts. 3. L-3 Communications (LLL) and Northrop Grumman (NOC) upgraded to Overweight from Equal Weight at Barclays while the firm upgraded Lockheed Martin (LMT) to Equal Weight from Underweight. 4. Microsoft (MSFT) upgraded to Neutral from Underweight at Atlantic Equities. 5. Novartis (NVS) upgraded to Buy from Hold at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PFE Pfizer
$31.70

0.76 (2.46%)

11/29/16
11/29/16
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. Pfizer (PFE) upgraded to Overweight from Equal Weight at Barclays with analyst Geoff Meacham saying he sees a greater likelihood that Pfizer will be able to access its cash overseas under the new administration, which could be used to acquire growth assets and return capital to shareholders. 2. Comerica (CMA) upgraded to Outperform from Market Perform at Keefe Bruyette. 3. Tractor Supply (TSCO) upgraded to Buy from Neutral at Northcoast with analyst Chuck Cerankosky saying he expects the company to benefit from colder weather and the improving US economy and said product assortments and promotions have also been adjusted to the new economics of the energy patch and its impact on this company's customers. 4. Del Frisco's (DFRG) upgraded to Outperform from Neutral at Credit Suisse with analyst Jason West saying it is a key beneficiary of improved high-end consumer and corporate spending. 5. Veracyte upgraded to Buy from Neutral at Janney Capital with analyst Paul Knight saying the company's "disciplined test development, commercialization, and reimbursement processes" insulate it from a number of problems plaguing the pharma sector. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/02/16
GUGG
12/02/16
INITIATION
GUGG
Neutral
Pfizer initiated with a Neutral at Guggenheim
12/02/16
12/02/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Exxon Mobil (XOM) initiated at BMO Capital. 2. Pfizer (PFE) initiated with a Neutral at Guggenheim. 3. DuPont Fabros (DFT) initiated with a Neutral at Guggenheim. 4. Acadia (ACHC) resumed with a Buy at Jefferies. 5. Shire (SHPG) initiated with a Buy at Societe Generale. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/29/16
LEHM
11/29/16
UPGRADE
Target $38
LEHM
Overweight
Pfizer upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Geoff Meacham upgraded Pfizer to Overweight and raised its price target to $38 from $37. Meacham sees a greater likelihood that Pfizer will be able to access its cash overseas under the new administration, which could be used to acquire growth assets and return capital to shareholders.
CELG Celgene
$113.39

0.33 (0.29%)

11/28/16
OPCO
11/28/16
INITIATION
Target $141
OPCO
Outperform
Celgene initiated with an Outperform at Oppenheimer
Oppenheimer analyst Leah Cann initiated Celgene with an Outperform rating and $141 price target, estimating that revenue will grow at a compound annual growth rate of 19% per year for the next five years and that its GAAP EPS can grow by a 31% CAGR over the same span.
12/01/16
WBLR
12/01/16
NO CHANGE
WBLR
Celgene, Zoetis among top healthcare picks at William Blair
William Blair analysts named their top health care picks for 2017, identifying Evolent Health (EVH) as their top HC Services and HC IT pick, Zoetis (ZTS) as their top dental and animal health pick,and Pacific Biosciences (PACB) as their top diagnostic services and life sciences choice, The firm identified ARIAD (ARIA), Celgene (CELG) and SAGE Therapeutics (SAGE) as their top biotech choices. It named Edwards Lifesciences (EW), Nevro (NVRO), and K2M Group (KTWO) as its favorite med tech picks.
11/23/16
PIPR
11/23/16
NO CHANGE
PIPR
Piper says CAR-T researchers must heed risks highlighted by Juno news
Piper Jaffray analyst Joshua Schimmer said the CAR-T field has "taken another step back" after Juno Therapeutics (JUNO) put a hold on its JCAR015 trial again due to fatal cerebral edema and cautioned companies exploring these therapies to be mindful of "unnecessarily aggressive development and under-appreciation of the potent and possibly highly toxic nature" of the approach. However, Schimmer expressed his confidence that companies he covers in the CAR-T space - namely bluebird bio (BLUE), Cellectis (CLLS), Celgene (CELG), Bellicum Pharmaceuticals (BLCM), Lion Biotechnologies (LBIO) and NantKwest (NK) - will "respect the power of these platforms and remember patients' lives are more important than stock prices."
11/09/16
PIPR
11/09/16
NO CHANGE
PIPR
Piper sees improving environment for Biopharma M&A
The biotech sector is seeing a "massive relief rally" given the "surprise trifecta" of a Republican sweep, the voting down of Prop 61 in California and U.S. dollar weakness, Piper Jaffray analyst Joshua Schimmer tells investors in a research note. The door is now open to discuss potential repatriation of cash outside the U.S., which could be a green light on mergers and acquisitions, the analyst adds. He points out that Amgen (AMGN) and Gilead (GILD) hold the most overseas cash, with Celgene (CELG) and Biogen (BIIB) holding several billion as well. Schimmer believes the broader environment may be improving for M&A. He cautions, though, that the election of Trump does not remove the "major drug pricing overhang question."
BIIB Biogen
$287.75

-1.79 (-0.62%)

12/08/16
BERN
12/08/16
NO CHANGE
BERN
Biogen results should be interpreted with caution, says Bernstein
Bernstein cautions that Biogen's Alzheimer's disease trial data had a large discontinuation between the double blind stage and the open label and thus, results should be interpreted with caution.
12/09/16
PIPR
12/09/16
NO CHANGE
PIPR
Overweight
Piper says Biogen still has 'best shot on goal' in Alzheimer's with aducanumab
Piper Jaffray analyst Joshua Schimmer noted that Biogen presented additional detailed analyses from the ongoing Phase 1b PRIME study in Alzheimer's disease and said the clinical data is increasingly supportive of aducanumab's benefit. While some questions remain, Schimmer is "increasingly confident" that Biogen has "cracked the code on this important unmet need with a safety profile that is adequate relative to the disease process." The analyst adds that there may be a bit of a data vacuum from this program until later in 2018, though he also expects SPINRAZA to provide near-term positive catalysts for Biogen, on which he keeps an Overweight rating.
AMGN Amgen
$143.45

2.86 (2.03%)

11/07/16
MZHO
11/07/16
INITIATION
Target $164
MZHO
Buy
Amgen initiated with a Buy at Mizuho
Mizuho analyst Salim Syed initiated Amgen with a Buy rating and a $164 price target.
11/08/16
ARGS
11/08/16
NO CHANGE
ARGS
Amgen weakness creates buying opportunity, says Argus
After Amgen's stock sunk 10% following its Q3 results, Argus says that the decline was triggered by "news that pricing power for Enbrel would be limited in 2017." However, the firm says that the company's growth outlook is "solid," while it has launched "promising new drugs." The firm keeps a Buy rating on the stock.
11/08/16
11/08/16
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. Adient (ADNT) initiated with a Neutral at JPMorgan. 2. JinkoSolar (JKS) initiated with a Buy at Craig-Hallum. 3. Amgen (AMGN), Gilead (GILD), and Celgene (CELG) initiated with a Buy at Mizuho while the firm initiated Biogen (BIIB) with a Neutral. 4. BioScrip (BIOS) resumed with a Buy at Jefferies. 5. SQM (SQM) initiated with a Market Perform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MYL Mylan
$36.51

0.45 (1.25%)

10/26/16
10/26/16
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. Mylan (MYL) initiated with a Buy at Mizuho. 2. Five Below (FIVE) initiated with a Buy at Longbow. 3. NetSuite (N) reinstated with an Underperform at BofA/Merrill. 4. Adient (ADNT) initiated with a Buy at Northcoast. 5. Party City (PRTY) initiated with a Neutral at Goldman. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/16
MZHO
10/25/16
INITIATION
Target $49
MZHO
Buy
Mylan initiated with a Buy at Mizuho
Mizuho analyst Irina Koffler initiated Mylan with a Buy and a $49 price target.
10/10/16
10/10/16
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. Mylan (MYL) upgraded to Strong Buy from Market Perform at Raymond James with Elliot WIlbur saying the Department of Justice settlement over EpiPen rebates eliminates a significant overhang on shares enabling the focus to be back on fundamentals. 2. Under Armour (UA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying "noise" from the Sports Authority's bankruptcy is fading while distribution expansion could lead to sales re-acceleration over the next 12-18 months. 3. Deere (DE) and AGCO (AGCO) were upgraded to Outperform from Market Perform at Wells Fargo. 4. Dow Chemical (DOW) upgraded to Buy from Neutral at UBS with analyst John Roberts saying the merger with DuPont (DD) could gain regulatory approval and that the stock is "now too cheap to ignore." 5. Exelixis (EXEL) upgraded to Overweight from Neutral at Piper Jaffray with analyst Edward Tenthoff saying the data are "good enough" to file a supplemental new drug application and could drive off-label front-line RCC use. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/16
WELS
10/10/16
NO CHANGE
WELS
Mylan settlement does not end EpiPen issue, says Wells Fargo
In a research note titled "Forget After Hrs. Quarterbacking - It is Not Back to Normal," Wells Fargo analyst David Maris says Mylan questions still remain after the company's lowered 2016 outlook and $465M Department of Justice settlement. One of Mylan's earnings levers, EpiPen pricing, is now off the table going forward, Maris tells investors in a research note. The analyst disagrees with investors that think the settlement puts the EpiPen pricing issue largely behind the company. The deal with the DOJ addresses only the Centers for Medicare and Medicaid Services portion of the issue, it does nothing to answer the original issue of EpiPen pricing and consumers, Maris contends. He points out that Mylan also disclosed in Friday's regulatory filing, but not in its press release, an SEC investigation by the Division of Enforcement. Maris says he's "not too excited" and doesn't gauge how good the news is by the after-hours share rally of 10%. He believes Mylan is "not back to normal" and keeps a Market Perform rating on the stock with a $43-$45 price target range. The shares are up 12% in pre-market trading to $40.35. Raymond James this morning upgraded Mylan to Strong Buy.
ESRX Express Scripts
$72.48

1.73 (2.45%)

10/28/16
JPMS
10/28/16
NO CHANGE
JPMS
Express Scripts weakness a buying opportunity, says JPMorgan
10/27/16
LEER
10/27/16
NO CHANGE
Target $75
LEER
Market Perform
Express Scripts price target lowered to $75 from $80 at Leerink
Leerink analyst David Larsen lowered his price target for Express Scripts (ESRX) to $75 from $80 on stagnant volumes, weakening competitive position, and greater risk to Anthem (ANTM) contract. The analyst reiterates a Market Perform on Express Scripts' shares.
11/04/16
DBAB
11/04/16
UPGRADE
Target $70
DBAB
Hold
Express Scripts upgraded to Hold from Sell at Deutsche Bank
Deutsche Bank analyst George Hill last night upgraded Express Scripts (ESRX) to Hold and raised his price target for the shares to $70 from $69. The analyst says he's "increasing confident" that Express "will serve and monetize" the Anthem (ANTM) contract through 2019. The two companies may even 'find their way to a resolution," Hill tells investors in a research note following the company's earnings conference cal. He believes 2017 consensus estimates for Express are likely too low.
11/03/16
DBAB
11/03/16
UPGRADE
DBAB
Hold
Express Scripts upgraded to Hold from Sell at Deutsche Bank
KO Coca-Cola
$42.00

1.02 (2.49%)

12/09/16
WELS
12/09/16
NO CHANGE
WELS
Outperform
Wells Fargo calls new Coca-Cola CEO 'great leader'
Wells Fargo analyst Bonnie Herzog believes the retirement of Coca-Cola CEO Muhtar Kent and the appointment of James Quincey as his replacement was a highly anticipated announcement. The analyst calls Quincey a "great leader" and she expects a "smooth" transition. Herzog keeps an Overweight rating on Coca-Cola with a $49-$51 price target range.
10/21/16
MAXM
10/21/16
NO CHANGE
Target $57
MAXM
Buy
Dunkin' Brands pullback an opportunity to build position, says Maxim
Maxim analyst Stephen Anderson believes the most important takeaway from yesterday's quarterly report from Dunkin' Brands (DNKN) is the improvement at the flagship Dunkin' Donuts brand in the U.S., not the top-line miss. The analyst noted the company cut its unit growth forecast for 2016, but expects a boost in 2017 development, and also believes the ready-to-drink bottled coffee deal recently signed with Coca-Cola (KO) is important. Anderson continues to name Dunkin' as his top pick for the rest of this year and recommends buying on yesterday's pullback. He has a Buy rating and $57 price target on Dunkin' Brands shares.
09/29/16
STFL
09/29/16
DOWNGRADE
STFL
Hold
Coca-Cola downgraded following Pepsi results at Stifel
As noted earlier, Stifel analyst Mark Swartzberg downgraded Coca-Cola (KO) to Hold from Buy. The analyst downgraded the stock after Pepsi (PEP) reported better than expected Q3 results. The analyst says that Coca-Cola's and Pepsi's organic EPS growth appears to be similar, but he believes that Pepsi is less vulnerable to foreign exchange fluctuations. Additionally, he believes that Coca Cola European Bottlers (CCE) is a better investment than Coca-Cola because of the large amount of revenue synergies which that Coca Cola European Bottlers has identified.
09/29/16
09/29/16
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. Coca-Cola (KO) downgraded to Hold from Buy at Stifel with analyst Mark Swartzberg saying that Coca-Cola's and Pepsi's organic EPS growth appears to be similar, but he believes that Pepsi is less vulnerable to foreign exchange fluctuations. 2. Fitbit (FIT) downgraded to Underweight from Sector Weight at Pacific Crest analyst Brad Erickson citing his channel checks which indicated that Charge 2, the company's flagship holiday product, is off to a slow start. 3. Discovery (DISCA) downgraded to Market Perform from Outperform at Barrington with analyst James Goss saying that Brexit and sports costs are dragging on its international results and foreign exchange tailwinds are moderating in many geographies. 4. Sonus (SONS) downgraded to Underperform from Market Perform at Cowen with analyst Paul Silverstein saying the firm's industry checks uncovered operational challenges and ongoing employee and executive churn. 5. Alcobra (ADHD) downgraded to Hold from Buy at Cantor and to Perform from Outperform at Oppenheimer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CNSL Consolidated Communications
$27.38

-0.25 (-0.90%)

11/03/16
DRXL
11/03/16
UPGRADE
DRXL
Buy
Consolidated Communications upgraded to Buy from Hold at Drexel Hamilton
12/05/16
DRXL
12/05/16
DOWNGRADE
DRXL
Hold
Consolidated Communications downgraded to Hold from Buy at Drexel Hamilton
Drexel Hamilton analyst Barry Sine downgraded Consolidated Communications to Hold due to recent shares strength.
11/03/16
11/03/16
UPGRADE
Target $26

Buy
Follow-up: Consolidated Communications upgraded on valuation at Drexel Hamilton
As previously reported, Drexel Hamilton upgraded Consolidated Communications to Buy from Hold with a $26 price target. Analyst Barry Sine changed his view on shares citing the strong quarter and recent share weakness.
12/06/16
RAJA
12/06/16
UPGRADE
RAJA
Market Perform
Consolidated Communications upgraded to Market Perform at Raymond James
Raymond James upgraded Consolidated Communications (CNSL) to Market Perform following its announced acquisition by Fairpoint (FRP).
FRP FairPoint
$19.05

-0.2 (-1.04%)

05/05/16
05/05/16
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. FairPoint (FRP) upgraded to Buy at Drexel Hamilton by analyst Barry Sine, who said the company is back on track following better than expected Q1 results. The analyst said broadband subscriber growth turned positive and the company is close to a return to pre-strike subscriber levels and residential phone lines posted their smallest decline since the company acquired Verizon's northern New England landline business in 2007. 2. Continental Resources (CLR) upgraded to Strong Buy at Raymond James with analyst John Freeman saying Continental offers attractive leverage to the turn in oil prices with its exposure to Mid-continent resource plays and its peer-leading Bakken position. 3. Essex Property Trust (ESS) upgraded to Outperform at Raymond James by analyst Buck Horne, who believes concerns over a slowing California/tech-sector job growth and new supply in certain submarkets are overdone. 4. Parsley Energy (PE) upgraded to Strong Buy at Raymond James with analyst John Freeman saying the company has some of the most economic acreage in the country and believes shares still have room to run before it reflect the full potential of the asset base. 5. NXP Semiconductors (NXPI) upgraded to Buy at Goldman by analyst Toshiya Hari, who said above-industry growth and cost synergies from the Freescale (FSL) acquisition will drive the stock higher. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/05/16
DRXL
05/05/16
UPGRADE
Target $15
DRXL
Buy
FairPoint upgraded to Buy at Drexel Hamilton
As previously reported, Drexel Hamilton upgraded FairPoint to Buy from Hold with a $15 price target. Analyst Barry Sine said the company is back on track following the better than expected Q1 report. Broadband subscriber growth turned positive and the company is close to a return to pre-strike subscriber levels and residential phone lines posted their smallest decline since the company acquired Verizon's northern New England landline business in 2007, Sine said.
05/05/16
DRXL
05/05/16
UPGRADE
DRXL
Buy
FairPoint upgraded to Buy from Hold at Drexel Hamilton
07/29/16
DRXL
07/29/16
DOWNGRADE
DRXL
Hold
FairPoint downgraded to Hold from Buy at Drexel Hamilton
VZ Verizon
$51.49

0.36 (0.70%)

10/27/16
JEFF
10/27/16
NO CHANGE
JEFF
Oclaro, Lumentum pullbacks a buying opportunity, says Jefferies
Jefferies analyst James Kisner attributes today's weakness in shares of Oclaro (OCLR), Lumentum (LITE) and Finisar (FNSR) to "misguided sympathy" with Infinera (INFN), which reported results last night and commented on softness at some carrier and bandwidth wholesale customers. Infinera is facing company specific issues and doesn't have exposure to China or the Verizon (VZ)metro 100G buildout, which are both major drivers for Oclaro and Lumentum, said Kisner, who recommends using today's pullback in those two names as a buying opportunity.
12/07/16
ADAM
12/07/16
NO CHANGE
Target $420
ADAM
Buy
Equinix deal with Verizon both strategic and accretive, says Canaccord
Canaccord analyst Paul Morgan views Equinix's (EQIX) deal for Verizon's (VZ) data center portfolio very favorably, saying it is both strategic and accretive. The deal boosts Equinix revenues and offers strong synergies with the Federal government, said Morgan, who thinks the company was able to cherry-pick a portfolio with high geographic overlap and avoided a non-core asset overlap. Morgan reiterated his Buy rating and $420 price target on Equinix shares.
EQIX Equinix
$346.03

-0.43 (-0.12%)

11/03/16
RHCO
11/03/16
NO CHANGE
RHCO
Equinix should be bought on recent volatility, says SunTrust
SunTrust analyst Greg Miller says that Equinix reported "strong" results, while the selloff of the data center group is "overblown." He says that Equinix is the best positioned company in the data center sector to exploit enterprise cloud adoption and overall IT outsourcing. Miller keeps a Buy rating on the shares.
10/19/16
PACS
10/19/16
NO CHANGE
PACS
Equinix weakness creates attractive entry point, says Pacific Crest
Pacific Crest analyst Michael Bowen says that Equinix's long-term trends "are firmly intact," while the company should benefit from additional hyperscale capacity in 2017. He is positive about the stock ahead of the company's results.
12/01/16
GUGG
12/01/16
INITIATION
Target $390
GUGG
Buy
Equinix initiated with a Buy at Guggenheim
Guggenheim initiated Equinix with a Buy and a $390 price target.
ROP Roper Technologies
$185.80

2.51 (1.37%)

10/19/16
ARGS
10/19/16
INITIATION
ARGS
Hold
Roper Technologies initiated with a Hold at Argus
Argus analysts Stephen Biggar and Mike Jaffe initiated Roper Technologies with a Hold saying the company has faced earnings pressure in recent quarters due to weakness in the energy sector and global economic challenges and expects it to post mixed results in 2016, followed by relatively modest improvement next year.
07/20/16
RAJA
07/20/16
INITIATION
Target $206
RAJA
Strong Buy
Roper Technologies initiated with a Strong Buy at Raymond James
Raymond James analyst Brian Gesuale initiated Roper Technologies with a Strong Buy and $206 price target saying he is constructive on the company's methodology of perpetual capital deployment into asset-light businesses that continually enhance the firm's cash return on investment, and enabling free cash flow to compound rapidly.
12/07/16
ADAM
12/07/16
NO CHANGE
Target $187
ADAM
Hold
Roper Technologies price target raised to $187 from $175 at Canaccord
Canaccord analyst John Quealy raised his price target on Roper Technologies to $187 from $175 after the company announced it would buy Deltek for $2.8B in cash. The analyst said Roper's core growth and margin expansion story remains intact longer-term and sees a premium as warranted given its track record of value creation. Quealy maintained his Hold rating on Roper shares, but admitted the company continues to set the pace for the broader industrial technology market.
08/01/16
JPMS
08/01/16
UPGRADE
Target $157
JPMS
Neutral
Roper Technologies upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst C. Stephen Tusa upgraded Roper Technologies to Neutral saying the risk/reward is more balanced following the year-to-date underperformance of the shares. The analyst keeps a $157 price target for the name.
SNCR Synchronoss
$41.21

0.42 (1.03%)

12/07/16
WELS
12/07/16
NO CHANGE
WELS
Synchronoss deal has positive aspects, says Wells Fargo
After Synchronoss Technologies,(SNCR) agreed to buy secure content collaboration provider IntraLinks Holdings (IL), Wells Fargo says that the "transformative deal" will boost Synchronoss' revenue growth to the high teens level versus 12% now while reducing its high level of reliance on AT&T (T) for revenue. The firm thinks that the company's "growth and margin profile is more attractive after the deal than before it." It keeps an Outperform rating on the stock.
12/07/16
STFL
12/07/16
DOWNGRADE
STFL
Hold
Intralinks downgraded to Hold from Buy at Stifel
Stifel analyst Gur Talpaz downgraded Intralinks (IL) which is being acquired by Synchronoss (SNCR) for $13 per share.
11/08/16
JPMS
11/08/16
NO CHANGE
Target $65
JPMS
Overweight
Synchronoss price target raised to $65 from $56 at JPMorgan
JPMorgan analyst Sterling Auty raised his price target for Synchronoss Technologies to $65 saying the company's activation business review would lead to a higher multiple. If the unit is sold, the market will likely assign a higher multiple on the remaining cloud business, Auty tells investors in a post-earnings research note. He keeps an Overweight rating on Synchronoss.
12/09/16
LTCO
12/09/16
DOWNGRADE
LTCO
Neutral
Intralinks downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst Glenn Mattson downgraded Intralinks (IL) to Neutral citing the proposed acquisition of Synchronoss (SNCR).
IL Intralinks
$13.09

0.04 (0.31%)

12/07/16
CHLM
12/07/16
DOWNGRADE
CHLM
Hold
Intralinks downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum downgraded Intralinks (IL) to Hold as it is being acquired by Synchronoss (SNCR) for $13 per share.
ABT Abbott
$39.20

0.52 (1.34%)

10/25/16
RBCM
10/25/16
NO CHANGE
RBCM
Abbott should be bought on recent weakness, says RBC Capital
After Abbott reported slightly stronger than expected Q3 results, RBC Capital analyst Glenn Novarro predicts that the company's 2016 EPS will come in at $2.63, excluding its acquisition of Alere. The analyst thinks that Abbott's EPs can rise to $2.93 in 2018, excluding the Alere deal, driven by lower interest costs and higher synergies. He says that recent weakness in the stock has been caused by issues that are "either transient or can be offset." The analyst keeps a $48 price target and Outperform rating on the stock.
10/11/16
COWN
10/11/16
NO CHANGE
Target $85
COWN
Outperform
Cowen says St. Jude advisory common for the industry
While Dear Doctor letters are never a positive, St. Jude Medical's (STJ) medical device advisory relating to a low rate of premature battery depletion in the high voltage portfolio is common in the Cardiac Rhythm Management industry, Cowen analyst Joshua Jennings tells investors in a research note. The analyst sees limited risk to St. Jude's franchise and still expects the takeover by Abbott Laboratories' (ABT) to close by the end of the year. Jennings keeps an Outperform rating on St. Jude shares with an $85 price target. The stock is down 1% to $80.19 in pre-market trading.
10/20/16
LEER
10/20/16
NO CHANGE
Target $45
LEER
Market Perform
Abbott selloff overdone as long-term fundamentals remain intact, says Leerink
Leerink analyst Danielle Antalffy believes the selloff in Abbott's shares is overdone, as long-term fundamentals remain intact. With another "solid" quarter in hand, despite a weaker than expected Nutritionals performance, the analyst believes the company seems to remain "solidly" on track to deliver improving operational results in 2017, after a year in which it is reshaping the portfolio by acquiring higher-growth assets and shedding slower, lower-margin businesses. Antalffy reiterates a Market Perform rating on the stock but lowered her price target on the shares to $45 from $48.
12/08/16
ADAM
12/08/16
NO CHANGE
Target $52
ADAM
Buy
Legal rights in favor of Alere in buyout fight, says Canaccord
Canaccord analyst Mark Massaro noted Abbot (ABT) filed a lawsuit to terminate its acquisition of Alere (ALR), which sent the latter's stock below where it was prior to the original deal being struck. The analyst said the legal jurisdiction is in Delaware, which heavily favors Alere, who said they will take whatever actions are necessary to make Abbott complete the transaction. Alere is confident the deal will be completed at the agreed upon terms, with the company in a good position to have its Arriva Medical business reimbursement restored by the CMS, said Massaro, who raised his price target to $52 from $50 and reiterated his Buy rating on Alere shares.
ALR Alere
$37.58

0.23 (0.62%)

09/29/16
ADAM
09/29/16
NO CHANGE
Target $53
ADAM
Buy
Alere risk-reward looks 'quite good' as deal debate nears end, says Canaccord
Canaccord analyst Mark Massaro said he is optimistic that a conclusion of Abbott (ABT) and Alere's (ALR) merger fight is "not far off" and he still believes Abbott will ultimately acquire Alere, though he also thinks the merger may be decided by a judge. Massaro puts a 65% probability on the likelihood the deal closes at the $56 deal price, a 30% chance that Abbott buys Alere at a lower price nearer to $50 per share, and only a 5% chance the deal breaks, making the risk-reward ratio in Alere shares at current levels "quite good," he tells investors. He trimmed his price target on Alere to $53 from $56 an keeps a Buy rating on the stock.
09/19/16
JEFF
09/19/16
NO CHANGE
Target $48
JEFF
Buy
Abbott unit sale does not impact Alere transaction, says Jefferies
Jefferies analyst Jeffrey Holford believes Abbott's (ABT) sale of its Medical Optics business to Johnson & Johnson (JNJ) does not imply an increased probability that the Alere (ALR) deal will close. After speaking to Abbott management, Holford thinks the proceeds from the sale are more likely to be targeted towards the St. Jude Medical (STJ) acquisition. He believes that deal has a higher probability of closing than Alere. Holford has a Buy rating on Abbott with a $48 price target.
08/24/16
PIPR
08/24/16
NO CHANGE
PIPR
Abbott, Alere likely to agree to reduced takeover price, says Piper Jaffray
Piper Jaffray analyst Alex Olvera believes that Abbott (ABT) is building evidence to bolster its case that Alere (ALR) has undergone a material adverse change since Abbott agreed to acquire it. However, the analyst says he thinks that Delaware, where any litigation between the companies would occur, has never ruled that a material adverse change has occurred in any other case. Consequently, Olvera says there is "a high probability" that the takeover price for Alere will be lowered by 10%-15%. There is a "medium probability" that the cash component of the offer will be reduced and replaced with stock or Contingent Value Rights, according to the analyst. Finally, there is a "low probability" of the merger being terminated, he wrote.
SKYAY Sky
$49.95

10.29 (25.95%)

07/19/16
RBCM
07/19/16
UPGRADE
RBCM
Outperform
Sky upgraded to Outperform from Underperform at RBC Capital
RBC Capital analyst Wilton Fry double upgraded Sky to Outperform from Underperform with a GBP 1,100 price target.
02/26/16
GSCO
02/26/16
UPGRADE
GSCO
Buy
Sky upgraded to Buy from Neutral at Goldman
12/09/16
RBCM
12/09/16
NO CHANGE
RBCM
RBC likes Sky's over 6% risk arbitrage spread
RBC Capital analyst Wilton Fry views the risk arbitrage spread on Sky's (SKYAY) closing price in London as attractive. The analyst calculates a 6.2% spread based on 21st Century Fox's (FOXA) offer of GBP 10.75 less the value of any future dividend. Sky is due to pay a dividend of 12.6p in March. Fry does not expect a competing bid, but says Vodafone (VOD) is the only other company for which Sky would make a good strategic fit.
FOX 21st Century Fox
$27.92

-0.56 (-1.97%)

09/16/16
09/16/16
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. 21st Century Fox (FOX, FOXA) downgraded to Market Perform from Outperform at Bernstein with analyst Jason Park citing a reduction in his estimates for the company's Star India business. 2. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities. 3. Citi (C) downgraded to Neutral from Buy at Goldman with analyst Richard Ramsden saying Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. 4. McCormick (MKC) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard citing valuation. 5. Novavax (NVAX) downgraded to Neutral from Overweight at Piper Jaffray, to Neutral from Overweight at JPMorgan, to Neutral from Buy at Ladenburg, to Neutral from Outperform at Wedbush, and 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.
09/26/16
UBSW
09/26/16
NO CHANGE
Target $92
UBSW
Neutral
Consumer satisfaction with competitors has caught up to Netflix, says UBS
UBS analyst Doug Mitchelson said that the firm's Evidence Lab survey indicated that U.S. consumer satisfaction with Amazon Prime Video (AMZN) and Hulu - the joint venture owned by Time Warner (TWX), Comcast (CMCSA), 21st Century Fox (FOXA), and Disney (DIS) - has now caught up to Netflix (NFLX), advising that investors should "continue to monitor competitive threats closely" as Netflix leads the category but demand for consumer media time, attention and wallet has intensified. The analyst, who added that Netflix's "pricing power remains unclear" based on the firm's survey work, keeps a Neutral rating and $92 price target on Netflix shares.
09/15/16
BERN
09/15/16
DOWNGRADE
BERN
Market Perform
21st Century Fox downgraded to Market Perform from Outperform at Bernstein
09/06/16
RHCO
09/06/16
NO CHANGE
Target $18
RHCO
Neutral
SunTrust sees 'limited' list of Twitter suitors, says activist action unlikely
SunTrust analyst Robert Peck reiterated his belief that Twitter (TWTR) is unlikely to sell itself in 2016 in a new note to investors, but noted that investors have asked him who would be interested if Twitter were open to a sale. While giving his opinion on potential acquirers - which he sees possibly including Google (GOOG), Facebook (FB), Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), AT&T (T), Verizon (VZ), Disney (DIS), Fox (FOXA), and Alibaba (BABA) - Peck said the company's high price and "unique" asset limit the potential buyers and gave his view that a PE buyer is highly unlikely given the company's lack of free cash flow. Additionally, Peck thinks activist action at Twitter seems "extremely unlikely" despite "unsubstantiated investor conjecture" and media reports. The analyst keeps Neutral rating and $18 price target on Twitter shares.
FOXA 21st Century Fox
$28.21

-0.43 (-1.50%)

11/22/16
JEFF
11/22/16
NO CHANGE
Target $35
JEFF
Buy
21st Century Fox shares could see renewed focus, says Jefferies
Jefferies analyst John Janedis believes shares of 21st Century Fox could see renewed focus from investors following the recent underperformance relative to peers. The analyst believes Fox's international cable network assets are underappreciated and he raised his price target for the shares to $35 from $32. Janedis maintains a Buy rating on Fox.
10/27/16
PACS
10/27/16
NO CHANGE
PACS
21st Century Fox should be owned into Q1 results, says Pacific Crest
Pacific Crest analyst Andy Hargreaves says that 21st Century Fox can meet consensus Q1 estimates, and he believes that that the stock will probably rise if the company does so. The analyst says that the stock is his favorite among TV networks, and he recommends owning the shares ahead of the earnings.
10/14/16
RBCM
10/14/16
NO CHANGE
RBCM
21st Century Fox setup into results positive, says RBC Capital
RBC Capital analyst Steven Cahall thinks that 21st Century Fox's stock will react positively to its Q1 results despite the weak performance of its films and "mild weakness" in broadcast ratings. If no other problems emerge, the stock can rise, the analyst believes. He thinks that the stock's valuation is attractive
SWC Stillwater Mining
$17.32

2.64 (17.98%)

06/09/16
06/09/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Fitbit (FIT) initiated with an Outperform at Wedbush. 2. Stryker (SYK) initiated with a Buy at Guggenheim. 3. Medtronic (MDT) initiated with a Neutral at Guggenheim. 4. Edwards Lifesciences (EW) initiated with a Neutral at Guggenheim. 5. Stillwater Mining (SWC) reinstated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/09/16
BOFA
06/09/16
INITIATION
Target $13
BOFA
Buy
Stillwater Mining reinstated with a Buy at BofA/Merrill
BofA/Merrill reinstated Stillwater Mining with a Buy rating and $13 price target on shares.
08/01/16
BMOC
08/01/16
NO CHANGE
BMOC
Stillwater Mining price target raised to $17 from $12 at BMO Capital
BMO Capital analyst David Gagliano increased his price target on Stillwater, citing the company's "solid" 1H16 production and cash costs, along with what he sees as an "encouraging update" on the company's Blitz project.He keeps an Outperform rating on the shares.
02/24/16
GSCO
02/24/16
DOWNGRADE
GSCO
Neutral
Stillwater Mining downgraded to Neutral from Buy at Goldman
Goldman analyst Andrew Quail downgraded Stillwater to Neutral and lowered his price target to $8 from $11 on shares. The analyst downgraded shares given a deterioration in palladium prices and outlook, and muted demand.
SBGL Sibanye Gold
$7.10

-1.26 (-15.07%)

07/05/16
MACQ
07/05/16
UPGRADE
MACQ
Neutral
Sibanye Gold upgraded to Neutral from Underperform at Macquarie
07/01/16
MACQ
07/01/16
UPGRADE
MACQ
Neutral
Sibanye Gold upgraded to Neutral from Underperform at Macquarie
10/12/16
SBSH
10/12/16
UPGRADE
SBSH
Neutral
Sibanye Gold upgraded to Neutral from Sell at Citi
03/15/16
MACQ
03/15/16
DOWNGRADE
MACQ
Underperform
Sibanye Gold downgraded to Underperform from Neutral at Macquarie
BOBE Bob Evans
$54.64

-0.13 (-0.24%)

12/06/16
OPCO
12/06/16
NO CHANGE
Target $55
OPCO
Outperform
Bob Evans price target raised to $55 from $50 at Oppenheimer
Oppenheimer analyst Brian Bittner raised his price target for Bob Evans to $55 from $50 after the company delivered a Q2 EPS beat and "surprisingly" raised 2017 guidance for the second consecutive quarter. The analyst reiterates an Outperform rating on the shares.
05/17/16
05/17/16
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. Intel (INTC) initiated with an Underperform at CLSA. 2. Qualcomm (QCOM) initiated with an Outperform at CLSA. 3. Bob Evans (BOBE) initiated with a Buy at Maxim. 4. Broadcom Limited (AVGO) initiated with an Outperform at CLSA. 5. SecureWorks (SCWX) initiated with a Buy at BofA/Merrill, Goldman, Stifel and SunTrust. It was also initiated with an Outperform at RBC Capital, William Blair, Barclays and JPMorgan. Furthermore, it was initiated with a Neutral at Citi, Credit Suisse and UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/17/16
MAXM
05/17/16
INITIATION
Target $59
MAXM
Buy
Bob Evans initiated with a Buy at Maxim
Target $59.
12/06/16
MAXM
12/06/16
NO CHANGE
Target $58
MAXM
Buy
Bob Evans break-up potential rising, says Maxim
Maxim analyst Stephen Anderson attributes the positively reaction to Bob Evans' Q2 results primarily to the fact that company named J.P. Morgan to evaluate potential strategies for value creation, which he take as evidence that management is more serious about a potential separation of the Bob Evans Restaurants and BEF Foods businesses. The analyst, who now sees greater potential for a split that would provide a catalyst for additional upside, has a Buy rating and $58 price target on Bob Evans shares.
FRAN Francesca's
$21.19

-1.07 (-4.81%)

11/16/16
NOMU
11/16/16
DOWNGRADE
NOMU
Neutral
Francesca's downgraded to Neutral due to valuation at Nomura
As previously reported, Nomura downgraded Francesca's to Neutral from Buy citing valuation.
11/16/16
NOMU
11/16/16
DOWNGRADE
NOMU
Neutral
Francesca's downgraded to Neutral from Buy at Nomura
11/15/16
FBRC
11/15/16
DOWNGRADE
Target $14
FBRC
Underperform
Francesca's downgraded to Underperform from Market Perform at FBR Capital
FBR Capital analyst Susan Anderson downgraded Francesca's to Underperform citing heightened promotional trends and an unattractive risk/reward profile. The analyst has a $14 price target for the shares.
11/15/16
FBRC
11/15/16
DOWNGRADE
Target $19
FBRC
Market Perform
American Eagle downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Susan Anderson downgraded American Eagle (AEO) to Market Perform citing heightened promotional trends. The analyst cut her price target for the shares to $19 from $22. Anderson this morning also downgraded Francesca's (FRAN) and Abercrombie & Fitch (ANF) to Underperform from Market Perform.
PLAY Dave & Buster's
$57.18

0.56 (0.99%)

12/07/16
WELS
12/07/16
NO CHANGE
WELS
Dave & Buster's price target raised to $57-$60 from $52-$55 at Wells Fargo
After Dave & Buster's reported stronger than expected Q3 results, Wells Fargo says the results show that the company's demand is far less vulnerable to slumps than other casual dining names. The firm says that the company's fundamentals are "solid," while its competitive and cannibalization headwinds have diminished. Wells keeps an Outperform rating on the shares.
12/07/16
BMOC
12/07/16
NO CHANGE
BMOC
Dave & Buster's price target raised to $59 from $48 at BMO Capital
BMO Capital analyst Andrew Strelzik raised his price target on Dave & Buster's after the company reported higher than expected Q3 EPS and raised its EPS guidance. The analyst believes that the company is one of the most direct plays on consumer spending and could be one of the biggest beneficiaries of corporate tax reform given its 37% average tax rate over the past few years. As a result, the analyst says that the company "may be the ultimate Trump trade." He keeps an Outperform rating on the stock.
10/12/16
10/12/16
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. AB InBev (BUD) reinstated with an Outperform at Credit Suisse. 2. GrubHub (GRUB) initiated with a Buy at Argus. 3. Dave & Buster's (PLAY) initiated with an Outperform at Wells Fargo. 4. Buckeye Partners (BPL) initiated with a Neutral at Credit Suisse. 5. Luminex (LMNX) initiated with an Outperform at Avondale. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/12/16
WELS
10/12/16
INITIATION
WELS
Outperform
Dave & Buster's initiated with an Outperform at Wells Fargo
Wells Fargo analyst Jeff Farmer started Dave & Buster's with an Outperform rating and $46-$49 price target range. The company's highest quality in the sector unit growth and improving same-store-sales should drive multiple expansion, Farmer tells investors in a research note.
LULU lululemon
$69.30

0.46 (0.67%)

12/08/16
OPCO
12/08/16
NO CHANGE
Target $75
OPCO
Outperform
lululemon price target raised to $75 from $70 at Oppenheimer
Oppenheimer analyst Anna Andreeva raised her price target for lululemon to $75 from $70 following quarterly results. The analyst believes lululemon is still one of rare 13%-15% top-line growth stories in consumer, with bottom-line inflection finally following, despite athletic landscape losing some steam. She reiterates an Outperform rating on the shares.
12/08/16
WEDB
12/08/16
NO CHANGE
WEDB
lululemon price target raised to $81 from $70 at Wedbush
Wedbush analyst Morry Brown raised his price target on lululemon, as he believes that the company reported "strong" Q3 results. The analyst expects the company's earnings power to increase in 2017 and 2018. He continues to identify the stock as a best idea and reiterates an Outperform rating on the shares.
12/08/16
ADAM
12/08/16
NO CHANGE
Target $47
ADAM
Speculative Buy
Canaccord says lululemon results do little to alleviate concerns
Canaccord analyst Camilo Lyon note lululemon topped Q3 estimates, but he said the results did little to alleviate his concerns for 2017. The analyst said comparable sales growth was driven by conversion gains, while traffic was still negative. He believes gross margins will continue to trend lower as comps moderate. While the athleisure trend decelerates and technical denim gains momentum, the company will have a hard time maintaining its mid-single digit comp trajectory, said Lyon, who reiterated his Sell rating but raised his price target to $47 from $44 on lululemon shares.
12/08/16
12/08/16
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. AMD (AMD) upgraded two notches to Buy from Underperform at BofA/Merrill with analyst Vivek Arya indicating that PC gaming and AI/Deep learning Industries are still in the early stages and AMD is a vendor that can challenge incumbents Intel (INTC) and NVIDIA (NVDA) for market share. 2. lululemon (LULU) upgraded to Buy from Sell at Evercore ISI, to Buy from Neutral at Mizuho, and to Neutral from Underperform at BofA/Merrill. 3. Hess Corp. (HES) upgraded to Overweight from Neutral at JPMorgan with analyst Arun Jayaram saying the company can post upside 2017 and 2018 oil growth versus expectations as it boosts Bakken activity levels. 4. Juniper (JNPR) upgraded to Buy from Neutral at Nomura with analyst Jeffrey Kvaal saying Juniper's new QFX family of data center switches is poised to grow rapidly in 2017 and total switching unit growth could be upwards of 12% in 2017. 5. Scotts Miracle-Gro (SMG) upgraded to Buy from Underperform at BofA/Merrill with analyst Christopher Carey saying Scotts has become a leader in hydroponics, a category primed to see significant growth for years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TLRD Tailored Brands
$27.18

0.92 (3.50%)

12/08/16
MZHO
12/08/16
UPGRADE
MZHO
Buy
Tailored Brands upgraded to Buy from Neutral at Mizuho
12/08/16
WDLK
12/08/16
NO CHANGE
Target $30
WDLK
Buy
Tailored Brands price target raised to $30 from $20 at Wunderlich
Wunderlich analyst Eric Beder raised his price target for Tailored Brands to $30 following the company's better than expected Q3 results. Joseph A. Bank's turnaround gained momentum earlier than expected, Beder tells investors in a research note. He keeps a Buy rating on Tailored Brands.
12/05/16
DBAB
12/05/16
DOWNGRADE
Target $21
DBAB
Hold
Tailored Brands downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Paul Trussell downgraded Tailored Brands to Hold saying the risk/reward is balanced with the stock up 31% post the U.S. election. The analyst lowered his price target for the shares to $21 from $22.
09/01/16
JRCO
09/01/16
UPGRADE
JRCO
Accumulate
Tailored Brands upgraded to Accumulate from Hold at Johnson Rice
Johnson Rice upgraded Tailored Brands to Accumulate citing attractive risk/reward after the pullback in shares and expects an in line Q2 report.
COST Costco
$159.70

2.11 (1.34%)

11/09/16
EDJN
11/09/16
UPGRADE
EDJN
Buy
Costco upgraded to Buy from Hold at Edward Jones
12/08/16
FBCO
12/08/16
INITIATION
Target $175
FBCO
Outperform
Costco initiated with an Outperform at Credit Suisse
Credit Suisse analyst Edward Kelly assumed coverage on Costco with an Outperform and a $175 price target.
12/08/16
12/08/16
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. Alibaba (BABA) coverage assumed with an Overweight at Morgan Stanley. 2. BioMarin (BMRN) initiated with a Buy at Gabelli. 3. Costco (COST) initiated with an Outperform at Credit Suisse. 4. Expedia (EXPE) initiated with an Outperform at CLSA while TripAdvisor (TRIP) was initiated with an Underperform. 5. Cree (CREE) initiated with an Outperform at JMP Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/09/16
11/09/16
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. Costco (COST) upgraded to Buy from Hold at Edward Jones. 2. U.S. Steel (X) and Commercial Metals (CMC) were upgraded to Buy from Hold at Jefferies. 3. Sysco (SYY) upgraded to Equal Weight from Underweight at Barclays with analyst Karen Short citing greater confidence in the company's three-year plan following its first quarter results. 4. Lockheed Martin (LMT) upgraded to Buy from Hold at Deutsche Bank with analyst Myles Walton saying 2016 should be the first year of positive defense spending outlays since 2010 after the Republicans retained control of Congress and added the White House. 5. McKesson (MCK) upgraded to Buy from Neutral at Mizuho with analyst Ann Hynes saying she believes rhetoric on drug pricing will now "diminish significantly" following Donald Trump's presidential victory. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AVGO Broadcom
$179.09

8.38 (4.91%)

12/09/16
OPCO
12/09/16
NO CHANGE
Target $215
OPCO
Outperform
Broadcom price target raised to $215 from $200 at Oppenheimer
Oppenheimer analyst Rick Schafer raised his price target for Broadcom (AVGO) to $215 from $200 following the company's "beat and raise." The analyst continues to see Broadcom as mispriced for several reasons, including industry leading capital return and margin profile, organically growing top-line tied to favorable long-term secular trends, additional accretion from Brocade (BRCD) yet to be layered into estimates, and ample dry powder for further M&A. He remains a long-term buyer and reiterates an Outperform rating on Broadcom's shares.
12/09/16
ADAM
12/09/16
NO CHANGE
Target $250
ADAM
Buy
Broadcom remains a top large cap idea, says Canaccord
Canaccord analyst T. Michael Walkley noted Broadcom reported strong Q4 results and issued guidance above the Street's estimates. He said management continues to execute on synergy targets and increased its long-term operating margin targets to 45% from 40%, positioning the company for solid long-term sales and earnings growth with industry leading margins. Walkley reiterated his Buy rating and $250 price target on Broadcom shares.
12/09/16
DBAB
12/09/16
NO CHANGE
Target $225
DBAB
Buy
Broadcom price target raised to $225 from $205 at Deutsche Bank
Deutsche Bank analyst Ross Seymore raised his price target for Broadcom to $225 saying the company reported a "solid" Q4 beat on cost efficiencies. Rising cash returns should reduce the valuation discount, Seymore tells investors in a post-earnings research note. He reiterates a Buy rating on Broadcom.
12/09/16
BMUR
12/09/16
NO CHANGE
Target $210
BMUR
Buy
Broadcom poised for above average growth, says Brean Capital
Brean Capital analyst Michael Burton believes Broadcom is poised for above average growth with industry leading profitability and reasonable valuation. He noted the company's beat and raise Q4 results and how its strategy of leveraging its financial model is paying off. Burton reiterated his Buy rating and raised his price target to $210 from $205 on Broadcom shares.
MIK Michaels
$23.53

-0.23 (-0.97%)

12/07/16
12/07/16
DOWNGRADE

Market Perform
Michaels downgraded to Market Perform after earnings at Raymond James
As previously reported, Raymond James analyst Dan Wewer downgraded Michaels to Market Perform from Outperform following the company's Q3 report and adjustment to FY16 guidance. The company's the EBIT% expansion, which reached a lifetime high in FY15, is coming to an end as it seems Michaels can no longer protect share and further enhance margins, said Wewer, who added that downside risk could be limited by the decision to upsize its share repurchase program.
12/02/16
JPMS
12/02/16
NO CHANGE
Target $26
JPMS
Neutral
JPMorgan sees sales risk for Michaels, cuts estimates
JPMorgan analyst Christopher Horvers said the continued softness and volatility in retail, particularly from mature retailers such as Target (TGT), makes him "wary" of the outlook for Michaels (MIK). He is also cautious on management's ability to continue to drive upside as the company's successful turnaround heads into its fourth year. Ahead of the earnings report due on Tuesday, December 6, Horvers lowered his estimates for Michaels and cut his price target on the stock to $26 from $29, while keeping a Neutral rating on the shares.
12/07/16
RAJA
12/07/16
DOWNGRADE
RAJA
Market Perform
Michaels downgraded to Market Perform from Outperform at Raymond James
12/07/16
12/07/16
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. Apple (AAPL) downgraded to Mixed from Positive at OTR Global with the firm's analyst citing checks that indicate November iPhone 7 and 7 Plus sell-through in China is below October levels. 2. Glatfelter (GLT) downgraded to Market Perform from Outperform at BMO Capital and to Neutral from Buy at DA Davidson. 3. Kellogg (K) downgraded to Neutral from Outperform at Credit Suisse with analyst Robert Moslow saying he believes expectations for breakfast cereal stabilization in 2017 are overly optimistic and consensus estimates need to go lower to reflect continued challenges in cereals and company specific problems in the wholesome snacks category. 4. Michaels (MIK) downgraded to Market Perform from Outperform at Raymond James with analyst Dan Wewer citing the company reported quarterly results and adjusted its fiscal 2016 guidance. 5. AMC Networks (AMCX) downgraded to Sell from Neutral at MoffettNathanson. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
VRA Vera Bradley
$12.95

0.13 (1.01%)

10/05/16
KEYB
10/05/16
DOWNGRADE
KEYB
Sector Weight
Vera Bradley downgraded to Sector Weight at KeyBanc
As previously reported, KeyBanc analyst Edward Yruma downgraded Vera Bradley (VRA) to Sector Weight from Overweight, as he sees risk to its earnings. Yruma thinks the brand's reboot has been successful, as reflected by the 20% year-over-year rise in shares, but with gross margins at their highest since 2010, sales need to increase to drive earnings, he tells investors. In the handbag space, Yruma prefers Coach (COH), on which he keeps an Overweight rating.
07/06/16
BARD
07/06/16
NO CHANGE
BARD
Neutral
Handbag search traffic trends improved in June, says Baird
Baird analyst Mark Altschwager reports that search traffic trends for handbag brands, which historically has been a helpful directional indicator for comps, improved in June compared to May. Trends notably improved for Coach (COH), Tory Burch and Vera Bradley (VRA), noted Altschwager, who added that the search data is tracking above the firm's modeled comp expectations for Michael Kors (KORS) and consistent with the firm's expectations for Coach and Vera. The firm has Neutral ratings on Coach, Vera Bradley and Michael Kors shares.
10/05/16
KEYB
10/05/16
DOWNGRADE
KEYB
Sector Weight
Vera Bradley downgraded to Sector Weight from Overweight at KeyBanc
03/24/16
WDLK
03/24/16
UPGRADE
Target $24
WDLK
Buy
Vera Bradley upgraded to Buy from Hold at Wunderlich
Wunderlich analyst Eric Beder upgraded Vera Bradley to Buy with a $24 price target.
OXM Oxford Industries
$62.74

0.33 (0.53%)

09/28/16
LYON
09/28/16
INITIATION
LYON
Outperform
Oxford Industries initiated with an Outperform at CLSA
CLSA analyst Rick Patel initiated Oxford Industries with an Outperform rating and a $78 price target.
12/07/16
TLSY
12/07/16
DOWNGRADE
TLSY
Market Perform
Oxford Industries downgraded to Market Perform at Telsey Advisory
12/07/16
RHCO
12/07/16
NO CHANGE
RHCO
Oxford Industries weakness creates buying opportunity, says SunTrust
After Oxford reported stronger than expected Q3 results but provided weaker than expected Q4 guidance, SunTrust analyst Pamela Quintiliano blames the guidance miss on traffic declines, especially at the company's Tommy B unit. Nevertheless, she says that its brands "remain compelling," while it is "effectively working to combat traffic challenges." She thinks that the weakness in the name creates a long-term buying opportunity, and she keeps a Buy rating on the shares.
11/15/16
SBSH
11/15/16
INITIATION
Target $84
SBSH
Buy
Oxford Industries initiated with a Buy at Citi
Citi analyst Corinna Van der Ghinst started Oxford Industries with a Buy rating and $84 price target.
SHLD Sears
$11.93

-0.83 (-6.50%)

02/09/16
EVER
02/09/16
NO CHANGE
EVER
Sears is not a viable retailer, says Evercore ISI
Evercore ISI does not believe Sears is a viable retailer in its current form, and a liquidity event is a matter of when, not if. The firm's analyst said Sears' cash situation has deteriorated, making additional debt issuance more likely in 2016 with a larger liquidity event possible in 2017. Evercore has a base case of $4 per share on Sears based on its SOTP analysis.
03/17/16
EVER
03/17/16
NO CHANGE
EVER
Sears could trade as low as $3 per share, says Evercore ISI
02/09/16
EVER
02/09/16
NO CHANGE
EVER
Sell
Sears liquidity event a matter of 'when, not if,' says Evercore ISI
Evercore ISI analyst Greg Melich said the preliminary Q4 financials released by Sears showed comparable sales were worse than he expected at the flagship brand and at Kmart and that its margins were also worse than he thought. Sear's cash situation has gotten worse, making additional debt issuance more likely in 2016, Melich tells investors, adding that he believes "a liquidity event is a matter of when not if," and may be possible in 2017 at the current burn rate. The analyst keeps a Sell rating on Sears shares.
HRB H&R Block
$22.95

0.16 (0.70%)

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.
11/28/16
BTIG
11/28/16
DOWNGRADE
BTIG
Sell
H&R Block downgraded on Trump outlook at BTIG
As noted earlier, BTIG downgraded H&R Block to Sell from Neutral. Analyst Mark Palmer notes that President-elect Trump has said he wants to put H&R Block out of business by simplifying the tax code. Palmer thinks that the chances of this vision becoming reality has increased significantly. Target $18.
11/28/16
BTIG
11/28/16
DOWNGRADE
BTIG
Sell
H&R Block downgraded to Sell from Neutral at BTIG
11/16/16
11/16/16
DOWNGRADE
Target $25

Equal Weight
H&R Block downgraded on election risk at Morgan Stanley
As previously reported, Morgan Stanley downgraded H&R Blobk to Equal Weight from Overweight and lowered its price target to $25 from $26. Analyst Thomas Allen views the election results as a negative as it increases the risk of a simplified tax code and the potential repeal of ACA removes an industry tailwind. Allen also sees risk to margins from Refund Advances as the benefits seem to have diminished and are more commonplace.

TODAY'S FREE FLY STORIES

C

Citi

$66.58

-0.02 (-0.03%)

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GOOG

Alphabet

$910.67

-0.31 (-0.03%)

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Alphabet Class A

$926.18

-1.48 (-0.16%)

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Google expected to release Android O today »

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Alphabet

$910.67

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Alphabet Class A

$926.18

-1.48 (-0.16%)

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  • 24

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WFC

Wells Fargo

$51.68

-0.12 (-0.23%)

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Elizabeth Warren criticizes Wells Fargo's board changes, BI says »

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MSFT

Microsoft

$72.49

0.09 (0.12%)

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Microsoft's Xbox One X to launch on November 7, Business Insider reports »

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  • 05

    Sep

GE

General Electric

$24.55

-0.2 (-0.81%)

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Jeff Immelt becomes front-runner to head Uber, Recode says »

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  • 11

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GS

Goldman Sachs

$222.15

0.73 (0.33%)

, C

Citi

$66.58

-0.02 (-0.03%)

06:08
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06:08
Periodicals
Goldman Sachs receives approval to trade equities in Saudi Arabia, Reuters says »

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GS

Goldman Sachs

$222.15

0.73 (0.33%)

C

Citi

$66.58

-0.02 (-0.03%)

CS

Credit Suisse

$14.88

0.18 (1.22%)

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  • 17

    Oct

KOS

Kosmos

$6.91

0.16 (2.37%)

06:05
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06:05
Hot Stocks
Kosmos announces admission to trading on London Stock Exchange »

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CTRV

ContraVir Pharmaceuticals

$0.60

0.0098 (1.66%)

06:03
08/21/17
08/21
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06:03
Hot Stocks
ContraVir Pharmaceuticals issued new U.S. patent for expansion of cyclophilin »

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  • 20

    Oct

T

AT&T

$37.37

-0.23 (-0.61%)

, TWX

Time Warner

$101.19

-0.42 (-0.41%)

06:03
08/21/17
08/21
06:03
08/21/17
06:03
Periodicals
AT&T's proposed Time Warner takeover reaches late-stage point, WSJ reports »

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T

AT&T

$37.37

-0.23 (-0.61%)

TWX

Time Warner

$101.19

-0.42 (-0.41%)

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  • 06

    Sep

ADP

ADP

$104.41

-0.27 (-0.26%)

06:01
08/21/17
08/21
06:01
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06:01
Hot Stocks
ADP board rejects Pershing Square nominees for 2017 annual meeting »

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  • 11

    Sep

SPX

S&P 500

06:00
08/21/17
08/21
06:00
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06:00
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S&P 500: Pivot points »

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GDX

Market Vector Gold Miners

$22.93

-0.1 (-0.43%)

05:59
08/21/17
08/21
05:59
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05:59
Technical Analysis
Market Vector Gold Miners: Pivot points »

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GLD

SPDR Gold Trust

$122.30

-0.19 (-0.16%)

05:58
08/21/17
08/21
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05:58
Technical Analysis
SPDR Gold Trust: Pivot points »

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NUGT

Direxion Gold Miners Bull

$32.21

-0.56 (-1.71%)

05:58
08/21/17
08/21
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Technical Analysis
Direxion Gold Miners Bull: Pivot points »

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KBR

KBR

$14.92

-0.02 (-0.13%)

05:57
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08/21
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KBR awarded PMC contract by OMV Offshore Abu Dhabi GmbH »

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JNUG

Direxion Daily Jr Gld Mnrs Bull 3X Shrs

$18.02

-0.03 (-0.17%)

05:57
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Technical Analysis
Direxion Daily Jr Gld Mnrs Bull 3X Shrs: Pivot points »

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DUST

Direxion Daily Gold Miners Bear 3X ETF

$26.95

0.37 (1.39%)

05:57
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Technical Analysis
Direxion Daily Gold Miners Bear 3X ETF: Pivot points »

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JDST

Direxion Daily Junior Gold Miners Index Bear 3x Shares

$61.01

0.04 (0.07%)

05:57
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Technical Analysis
Direxion Daily Junior Gold Miners Index Bear 3x Shares: Pivot points »

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VXX

iPath S&P 500 VIX Short-Term Futures

$13.30

-0.36 (-2.64%)

05:55
08/21/17
08/21
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05:55
Technical Analysis
iPath S&P 500 VIX Short-Term Futures: Pivot points »

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XIV

VelocityShares Daily Inverse VIX Short-Term ETN

$73.89

2.39 (3.34%)

05:55
08/21/17
08/21
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05:55
Technical Analysis
VelocityShares Daily Inverse VIX Short-Term ETN: Pivot points »

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TVIX

VelocityShares Daily 2x VIX Short-Term ETN

$21.25

-1.03 (-4.62%)

05:55
08/21/17
08/21
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05:55
Technical Analysis
VelocityShares Daily 2x VIX Short-Term ETN: Pivot points »

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SVXY

ProShares Short VIX Short-Term Futures

$70.66

2.42 (3.55%)

05:55
08/21/17
08/21
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05:55
Technical Analysis
ProShares Short VIX Short-Term Futures: Pivot points »

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USO

United States Oil Fund

$9.97

0.35 (3.64%)

05:54
08/21/17
08/21
05:54
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05:54
Technical Analysis
United States Oil Fund: Pivot points »

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XOP

SPDR Oil Exploration and Production Fund

$29.46

0.36 (1.24%)

05:53
08/21/17
08/21
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Technical Analysis
SPDR Oil Exploration and Production Fund: Pivot points »

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$26.11

0.44 (1.71%)

05:53
08/21/17
08/21
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05:53
Technical Analysis
VelocityShares 3x Inv Natural Gas ETN: Pivot points »

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