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EXPE

Expedia

$117.30

0.85 (0.73%)

, PYPL

PayPal

$41.40

-0.05 (-0.12%)

10:25
01/10/17
01/10
10:25
01/10/17
10:25

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Expedia (EXPE) was initiated with a Sell at Citi and resumed with an Equal Weight at Morgan Stanley. 2. PayPal (PYPL) was initiated with a Buy at Berenberg and a Hold at Loop Capital. 3. trivago (TRVG) was initiated with an Outperform at Cowen, an Overweight at Morgan Stanley, a Neutral at Goldman, a Neutral at Citi, a Buy at BofA/Merrill, a Hold at Deutsche Bank, and an Overweight at JPMorgan. 4. Aegion (AEGN) initiated with a Buy at Canaccord. 5. WWE (WWE) initiated with a Buy at MKM Partners. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

EXPE

Expedia

$117.30

0.85 (0.73%)

PYPL

PayPal

$41.40

-0.05 (-0.12%)

TRVG

trivago

$11.89

-0.02 (-0.17%)

AEGN

Aegion

$23.00

-0.88 (-3.69%)

WWE

WWE

$18.94

0.18 (0.96%)

  • 10

    Jan

EXPE Expedia
$117.30

0.85 (0.73%)

01/09/17
PIPR
01/09/17
NO CHANGE
Target $70
PIPR
Overweight
TripAdvisor pact with Hilton another positive step, says Piper Jaffray
Piper Jaffray analyst Michael Olson said the addition of Hilton (HLT) inventory to TripAdvisor's (TRIP) Instant Book platform shows increased industry support for the platform and should give the IB platform more potential to match or beat the lowest price offered on other sites. He also notes the deal with Hilton comes after TripAdvisor added Expedia (EXPE) to the platform several weeks ago. Olson keeps an Overweight rating and $70 price target on TripAdvisor shares.
01/10/17
MSCO
01/10/17
INITIATION
Target $135
MSCO
Equal Weight
Expedia resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Brian Nowak resumed coverage on Expedia with an Equal Weight and a $135 price target. The analyst lowered estimates due to higher competition and expects acquisition costs to rise.
01/10/17
SBSH
01/10/17
INITIATION
Target $105
SBSH
Sell
Expedia initiated with a Sell at Citi
Citi analyst Mark May started Expedia with a Sell rating and $105 price target. The company's growth could slow more than the consensus currently estimates as recent acquisitions comp and trivago investments ramp, May tells investors in a research note. The analyst sees near-term risk to shares to the $100 level with "sell-side sentiment at all-time highs" and valuation multiples "near recent highs."
01/10/17
SBSH
01/10/17
INITIATION
Target $1800
SBSH
Buy
Priceline initiated with a Buy at Citi
Citi analyst Mark May started Priceline Group (PCLN) with a Buy rating and $1,800 price target. Priceline is the "clear market leader" in hotel bookings, a market which should grow at 10% annually over the next three years, May tells investors in a research note. The analyst this morning also initiated Expedia (EXPE) at Sell and trivago (TRVG) and TripAdvisor (TRIP) at Neutral.
PYPL PayPal
$41.40

-0.05 (-0.12%)

01/05/17
BMOC
01/05/17
INITIATION
Target $47
BMOC
Outperform
PayPal initiated with an Outperform at BMO Capital
BMO Capital initiated PayPal with an Outperform and a $47 price target.
01/05/17
01/05/17
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. Adobe (ADBE) was initiated with an Outperform and FireEye (FEYE) was initiated with a Market Perform at BMO Capital. 2. Hilton (HLT) initiated with a Buy at Goldman and a Sell at Berenberg. 3. Hershey (HSY) initiated with a Sell at Berenberg. 4. PayPal (PYPL) initiated with a Buy at Guggenheim. 5. Mondelez (MDLZ) initiated with a Buy at Berenberg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/17
LOOP
01/10/17
INITIATION
Target $44
LOOP
Hold
PayPal initiated with a Hold at Loop Capital
Loop Capital analyst Joseph Vafi initiated PayPal with a Hold and a $44 price target.
01/10/17
BREN
01/10/17
INITIATION
Target $51
BREN
Buy
PayPal initiated with a Buy at Berenberg
Berenberg analyst Jean Beaubois initiated PayPal with a Buy and a $51 price target. The analyst expects total payment value, or TPV, growth will continue to surprise on the upside. Management is guiding for growth in the mid-20%s, while he assumes volume growth closer to 30% over the next 3-5 years.
TRVG trivago
$11.89

-0.02 (-0.17%)

01/10/17
COWN
01/10/17
INITIATION
Target $15
COWN
Outperform
trivago initiated with an Outperform at Cowen
Cowen analyst Kevin Kopelman initiated trivago (TVGO) with an Outperform rating citing the firm's proprietary analysis, which shows the company has a 100% rate monetization advantage over key competitor TripAdvisor (TRIP). He also cited secular growth in online booking, competition among booking site advertisers, and geographic expansion. Kopelman has a $15 price target on trivago shares.
01/10/17
MSCO
01/10/17
INITIATION
Target $17
MSCO
Overweight
trivago initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Biran Nowak initiated trivago with an Overweight and a $17 price target citing its growing user base, ability to deliver qualified referrals, and increased ad revenue.
01/10/17
GSCO
01/10/17
INITIATION
Target $14
GSCO
Neutral
trivago initiated with a Neutral at Goldman
Goldman analyst Heath Terry initiated trivago with a Neutral and a $14 price target given reliance on advertising spend, increasing competition for paid traffic as competitors expend margin to accelerate growth, and declining supplier commission rates.
01/10/17
BOFA
01/10/17
INITIATION
Target $15
BOFA
Buy
trivago initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Nat Schindler initiated trivago with a Buy and a $15 price target saying it has the best top-line growth under coverage and remains in growth mode.
AEGN Aegion
$23.00

-0.88 (-3.69%)

11/22/16
SIDC
11/22/16
UPGRADE
Target $31
SIDC
Buy
Aegion upgraded to Buy from Neutral at Sidoti
Sidoti analyst Tate Sullivan upgraded Aegion to Buy and raised his price target for the shares to $31 from $21.
11/11/16
11/11/16
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. Aegerion (AEGN) resumed with a Neutral at JPMorgan. 2. Lamb Weston (LW) initiated with a Buy at Stifel, initiated with an Overweight at Barclays, and an Equal Weight at Morgan Stanley. 3. bluebird bio (BLUE) initiated with a Market Perform at BMO Capital. 4. Alder Biopharmaceuticals (ALDR) initiated with an Outperform at BMO Capital. 5. ACADIA (ACAD) 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.
01/10/17
ADAM
01/10/17
INITIATION
Target $30
ADAM
Buy
Aegion initiated with a Buy at Canaccord
Canaccord analyst Bobby Burleson initiated Aegion with a Buy and a $30 price target given an improving macro backdrop for key end-markets, a revamped story that brings broader infrastructure exposure and lower upstream oil and gas risk, and room for valuation expansion.
11/23/16
GHSC
11/23/16
DOWNGRADE
Target $25
GHSC
Neutral
Aegion downgraded to Neutral from Accumulate at Seaport Global
Seaport Global analyst Ryan Cassil downgraded Aegion to Neutral citing recent shares strength and raised its price target to $25 from $22.
WWE WWE
$18.94

0.18 (0.96%)

09/09/16
PACS
09/09/16
NO CHANGE
PACS
Formula One deal 'a reasonable valuation proxy' for WWE, says Pacific Crest
After Liberty Media (LMCA) agreed to buy Formula One for $8B, Pacific Crest analysts Evan Wingren and Andy Hargreaves say that Formula One was acquired for about 4.4 times EV/sales and about 17 times its LTM EV/EBITDA. They says that WWE trades at about 15 times EV/EBITDA and about two times EV/Sales, while WWWE's revenue growth and EBTIDA growth are significantly faster than those of Formula One. The analysts keeps a $24 price target and Overweight rating on WWE.
10/28/16
WELS
10/28/16
DOWNGRADE
WELS
Market Perform
WWE downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Eric Katz downgraded WWE to Market Perform citing the company's Q3 miss and subscriber disappointment. The stock closed flattish for the day post earnings as investors ran with CEO Vince McMahon's comment that WWE is "open for business" when it comes to a potential sale. This is a typical CEO statement and a sale in the near-term is unlikely, Katz tells investors in a research note. McMahon is not "itching to sell right now," the analyst contends. He cut his price target range for WWE shares to $18-$20 from $23-$25.
10/28/16
PACS
10/28/16
DOWNGRADE
PACS
Sector Weight
WWE downgraded to Sector Weight from Overweight at Pacific Crest
Pacific Crest analyst Evan Wingren downgraded WWE to Sector Weight saying declining U.S. subscriber additions and engagement create "material doubt" that the company's long-term U.S. subscriber goals are attainable. The analyst has a $19 fair value estimate for the shares following WWE's Q3 results. Wells Fargo this morning also downgraded WWE.
01/09/17
MKMP
01/09/17
INITIATION
Target $23
MKMP
Buy
WWE initiated with a Buy at MKM Partners
MKM Partners initiated WWE with a Buy and a $23 price target.

TODAY'S FREE FLY STORIES

02:40
01/18/17
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General news
FX Update: The dollar recouped some of yesterday's lost ground »

FX Update: The dollar…

C

Citi

$58.38

-1.25 (-2.10%)

, GS

Goldman Sachs

$235.74

-8.56 (-3.50%)

20:25
01/17/17
01/17
20:25
01/17/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

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Citi

$58.38

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GS

Goldman Sachs

$235.74

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USB

U.S. Bancorp

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TD Ameritrade

$45.87

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NTRS

Northern Trust

$88.15

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Fastenal

$48.26

0.205 (0.43%)

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Commerce Bancshares

$55.90

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  • 25

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  • 15

    Mar

TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

, TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

20:05
01/17/17
01/17
20:05
01/17/17
20:05
Periodicals
Toshiba says considers spinoff of memory chip unit, Bloomberg reports »

Toshiba (TOSBF) is…

TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

WDC

Western Digital

$71.62

0.62 (0.87%)

03/08/13
Wedge Partners
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03/06/13
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  • 25

    Jan

TM

Toyota

$118.41

-1.4 (-1.17%)

, AIQUY

Air Liquide

$21.97

-0.245 (-1.10%)

19:56
01/17/17
01/17
19:56
01/17/17
19:56
Hot Stocks
Thirteen energy, transport, industrial companies launch 'Hydrogen Council' »

Toyota (TM) announced…

TM

Toyota

$118.41

-1.4 (-1.17%)

AIQUY

Air Liquide

$21.97

-0.245 (-1.10%)

ALSMY

Alstom

NGLOY

Anglo American

$8.14

0.1 (1.24%)

BAMXY

BMW Group

DDAIF

Daimler AG

$75.35

-0.24 (-0.32%)

HMC

Honda

$29.66

-0.42 (-1.40%)

HYMLF

Hyundai Motor Co

RDS.A

Royal Dutch Shell

$55.54

0.06 (0.11%)

RDS.B

Royal Dutch Shell

$58.91

0.24 (0.41%)

LNAGF

Linde AG

$161.90

-0.15 (-0.09%)

TOT

Total

$51.51

-0.08 (-0.16%)

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

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  • 02

    Feb

NYT

New York Times

$13.50

-0.1 (-0.74%)

19:30
01/17/17
01/17
19:30
01/17/17
19:30
Hot Stocks
New York Times releases internal report on newsroom strategy »

The New York Times has…

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03/08/13
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03/06/13
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03/06/13
Barclays

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ENRJ

EnerJex Resources

19:19
01/17/17
01/17
19:19
01/17/17
19:19
Hot Stocks
EnerJex announces NYSE acceptance of plan to meet listing standards »

EnerJex Resources…

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03/06/13
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03/06/13
Barclays

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GS

Goldman Sachs

$235.74

-8.56 (-3.50%)

19:19
01/17/17
01/17
19:19
01/17/17
19:19
Periodicals
Goldman Sachs compliance chief to step down, Reuters says »

Goldman Sachs compliance…

03/08/13
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03/08/13
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03/06/13
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03/06/13
Barclays

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TWTR

Twitter

$16.96

-0.29 (-1.68%)

19:13
01/17/17
01/17
19:13
01/17/17
19:13
Periodicals
Twitter phases out 'buy' button, TechCrunch says »

Twitter appears to be…

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03/08/13
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03/06/13
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03/06/13
Barclays

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  • 28

    Feb

HSBC

HSBC

$41.18

0.02 (0.05%)

19:04
01/17/17
01/17
19:04
01/17/17
19:04
Periodicals
HSBC CEO: Trading ops generating 20% of London revenue may move, Bloomberg says »

HSBC CEO Stuart Gulliver…

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03/08/13
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03/06/13
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03/06/13
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HSBC

HSBC

$41.18

0.02 (0.05%)

19:02
01/17/17
01/17
19:02
01/17/17
19:02
Periodicals
HSBC CEO: 10% RoE may be new goal, Bloomberg says »

HSBC CEO Stuart Gulliver…

03/08/13
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03/06/13
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03/06/13
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CWT

California Water Service

$33.05

0.05 (0.15%)

19:01
01/17/17
01/17
19:01
01/17/17
19:01
Initiation
California Water Service initiated  »

California Water Service…

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03/08/13
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03/06/13
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03/06/13
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AWK

American Water

$72.07

1.25 (1.77%)

19:01
01/17/17
01/17
19:01
01/17/17
19:01
Initiation
American Water initiated  »

American Water initiated…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

, TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

18:59
01/17/17
01/17
18:59
01/17/17
18:59
Periodicals
Toshiba: Considering spinning off chip unit, Bloomberg reports »

Responding to a Nikkei…

TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

WDC

Western Digital

$71.62

0.62 (0.87%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 25

    Jan

KSU

Kansas City Southern

18:57
01/17/17
01/17
18:57
01/17/17
18:57
Initiation
Kansas City Southern initiated  »

Kansas City Southern…

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03/08/13
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03/06/13
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03/06/13
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  • 20

    Jan

NSC

Norfolk Southern

$108.90

-2.69 (-2.41%)

18:57
01/17/17
01/17
18:57
01/17/17
18:57
Initiation
Norfolk Southern initiated  »

Norfolk Southern…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 25

    Jan

UNP

Union Pacific

$103.37

-1.88 (-1.79%)

18:57
01/17/17
01/17
18:57
01/17/17
18:57
Initiation
Union Pacific initiated  »

Union Pacific initiated…

03/08/13
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03/08/13
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03/06/13
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03/06/13
Barclays

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  • 19

    Jan

  • 09

    May

AZO

AutoZone

$782.29

2.48 (0.32%)

18:54
01/17/17
01/17
18:54
01/17/17
18:54
Initiation
AutoZone initiated  »

AutoZone initiated with a…

03/08/13
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03/06/13
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03/06/13
Barclays

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ORLY

O'Reilly Automotive

$278.76

-0.39 (-0.14%)

18:54
01/17/17
01/17
18:54
01/17/17
18:54
Initiation
O'Reilly Automotive initiated  »

O'Reilly Automotive…

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03/06/13
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03/06/13
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  • 08

    Feb

AAP

Advance Auto Parts

$173.00

-1.79 (-1.02%)

18:54
01/17/17
01/17
18:54
01/17/17
18:54
Initiation
Advance Auto Parts initiated  »

Advance Auto Parts…

03/08/13
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03/08/13
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03/06/13
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03/06/13
Barclays

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ESTE

Earthstone Energy

$13.40

-0.18 (-1.33%)

18:51
01/17/17
01/17
18:51
01/17/17
18:51
Initiation
Earthstone Energy initiated  »

Earthstone Energy…

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

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MCK

McKesson

$148.43

1.25 (0.85%)

18:41
01/17/17
01/17
18:41
01/17/17
18:41
Upgrade
McKesson rating change  »

McKesson upgraded to…

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

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  • 25

    Jan

NRG

NRG Energy

$15.34

0.74 (5.07%)

18:38
01/17/17
01/17
18:38
01/17/17
18:38
Hot Stocks
NRG Energy says 'looks forward to an open dialogue with Elliott and Bluescape' »

NRG Energy received a…

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03/06/13
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  • 28

    Feb

LMCA

Liberty Media

$28.71

-1.53 (-5.06%)

, LMCK

Liberty Media

$28.72

-1.54 (-5.09%)

18:22
01/17/17
01/17
18:22
01/17/17
18:22
Hot Stocks
Liberty Media holders approve proposals relating to acquisition of Formula 1 »

Liberty Media announced…

LMCA

Liberty Media

$28.71

-1.53 (-5.06%)

LMCK

Liberty Media

$28.72

-1.54 (-5.09%)

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

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  • 17

    Jan

  • 17

    Jan

AUY

Yamana Gold

$3.26

0.09 (2.84%)

18:17
01/17/17
01/17
18:17
01/17/17
18:17
Hot Stocks
Yamana Gold announces resumption of operations at El Penon Mine in Chile »

Yamana Gold announced…

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

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CCJ

Cameco

$13.27

-0.02 (-0.15%)

18:14
01/17/17
01/17
18:14
01/17/17
18:14
Hot Stocks
Cameco down 9.5% after announcing FY16 results will be lower than expected »

In after-hours trading,…

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03/06/13
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03/06/13
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