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GS

Goldman Sachs

$242.64

-0.25 (-0.10%)

, GM

General Motors

$37.38

1.365 (3.79%)

16:14
01/10/17
01/10
16:14
01/10/17
16:14

On The Fly: Top stock stories for Tuesday

Stocks had a mixed open with the Nasdaq in positive territory and the Dow and S&P lower. The Dow suffered under the weight of a downgrade of Goldman Sachs (GS), which has accounted for a big part of the advance of the blue chip index since early November. The Dow and S&P shrugged off their early losses to join the Nasdaq in positive territory, though the Dow was unable to continue its momentum and finished the day a bit below where it started, while the Nasdaq closed at another new record level. ECONOMIC NEWS: In the U.S., the NFIB gauge of small business optimism rose 7.4 points in December to a 12-year high of 105.8. The JOLTS report showed job openings rose 71,000 to 5.5M in November. Wholesale inventories bounced 1.0% in November, with sales up 0.4%. In Asia, China's consumer price index rose 2.1% in December, while the producer price index rose 5.5% last month, continuing the inflationary upswing that began in September. COMPANY NEWS: Shares of General Motors (GM) rose 3.7% after the company announced above consensus 2017 earnings per share guidance and the addition of $5B to its stock buyback authorization... Shares of Yahoo (YHOO) gained 2.3% after the company announced that it will change its name to "Altaba" once the sale of its core internet business to Verizon (VZ) is concluded. Among the company's remaining assets will be Yahoo's stake in Alibaba (BABA) and Yahoo Japan. Additionally, Yahoo said that several longtime directors, including CEO Marissa Mayer, will step down following the completion of the deal... Shares of Valeant Pharmaceuticals (VRX) advanced 6.8% after the drugmaker agreed to sell its CeraVe, AcneFree and AMBI skincare brands to L'Oreal (LRLCY) for $1.3B in cash and to divest Dendreon to Sanpower Group for about $820M... Meanwhile, Wal-Mart (WMT) is readying another round of workforce reductions before the end of January, according to a report by the Wall Street Journal. The company intends to cut hundreds of jobs both at headquarters and regional personnel that supports stores, the publication added. MAJOR MOVERS: Among the notable gainers was Illumina (ILMN), which advanced 16.6% after analysts responded positively to the company's unveiling of the NovaSeq Series, a new and scalable sequencing architecture "expected one day to enable a $100 genome." Also higher was Sarepta Therapeutics (SRPT), which gained 21% after the company disclosed sales data for the launch of its Duchenne muscular dystrophy drug Exondys 51. Among the noteworthy losers was Ascena Retail (ASNA), which dropped about 10% after cutting its fiscal 2017 and fourth quarter earnings per share guidance as well as reporting a November/December same-store sales decline. Also lower was Williams Companies (WMB), which fell 10.7% after the company and Williams Partners (WPZ) announced a financial repositioning under which Williams will forfeit payments for a larger stake in the partnership. INDEXES: The Dow dropped 31.85, or 0.16%, to 19,855.53, the Nasdaq gained 20.00, or 0.36%, to 5,551.82, and the S&P 500 was unchanged at 2,268.90.

GS

Goldman Sachs

$242.64

-0.25 (-0.10%)

GM

General Motors

$37.38

1.365 (3.79%)

WMT

Wal-Mart

$68.25

-0.46 (-0.67%)

YHOO

Yahoo

$42.30

0.96 (2.32%)

VZ

Verizon

$52.77

0.09 (0.17%)

BABA

Alibaba

$96.69

1.97 (2.08%)

VRX

Valeant

$16.41

1.0601 (6.91%)

LRLCY

L'Oreal

$36.50

0.285 (0.79%)

ILMN

Illumina

$165.04

23.5 (16.60%)

BIO

Bio-Rad

$188.74

0.36 (0.19%)

SRPT

Sarepta

$37.89

6.63 (21.21%)

ASNA

Ascena Retail

$5.41

-0.6 (-9.98%)

WMB

Williams

$28.47

-3.46 (-10.84%)

WPZ

Williams Partners

$38.67

0.01 (0.03%)

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GS Goldman Sachs
$242.64

-0.25 (-0.10%)

12/21/16
12/21/16
DOWNGRADE
Target $240

Neutral
Goldman Sachs downgraded due to valuation at Atlantic Equities
As previously reported, Atlantic Equities downgraded Goldman Sachs to Neutral from Overweight. Analyst Christopher Wheeler said Goldman will be a major beneficiary of a better tone to capital markets post-election but said shares have rallied strongly through his $240 price target.
01/10/17
01/10/17
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. Moody's (MCO) was downgraded to Equal Weight from Overweight at Barclays and to Neutral from Buy at UBS. 2. Goldman Sachs (GS) and Comerica (CMA) were downgraded to Sell from Neutral at Citi. 3. T-Mobile (TMUS) downgraded to Neutral from Buy at MoffettNathanson. 4. AMAG Pharmaceuticals (AMAG) downgraded to Market Perform from Outperform at Leerink and to Neutral from Buy at Janney Capital. 5. BP (BP) downgraded to Market Perform from Outperform at BMO Capital analyst Brendan Warn citing his belief that the company will make a major acquisition this year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/17
SBSH
01/10/17
DOWNGRADE
Target $225
SBSH
Sell
Goldman Sachs downgraded to Sell from Neutral at Citi
Citi analyst Keith Horowitz downgraded Goldman Sachs (GS) to Sell with a $225 price target, representing 6% downside from current levels. While higher interest rates benefit fixed income trading, the path is "relatively uncertain and the bar is relatively high" for Goldman, Horowitz tells investors in a research note. The analyst believes U.S. bank stocks do not offer compelling risk/reward profiles following the recent rally. Horowitz this morning also downgraded Comerica (CMA) to Sell while keeping Buy ratings on Wells Fargo (WFC) and Bank of America (BAC).
01/06/17
UBSW
01/06/17
NO CHANGE
Target $285
UBSW
Buy
Goldman Sachs price target raised to $285 from $234 at UBS
UBS analyst Brennan Hawken raised his price target on Goldman Sachs $285 from $234 citing its earnings power and expectations for the bank to take market share as the revenue environment improves. Hawken reiterated his Buy rating on Goldman Sachs shares.
GM General Motors
$37.38

1.365 (3.79%)

12/01/16
12/01/16
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. Alcoa (AA) initiated with a Sell at Deutsche Bank. 2. Akorn (AKRX) initiated with a Sell at Goldman. 3. General Motors (GM) initiated with an Outperform at Macquarie, while the firm initiated Fiat Chrysler (FCAU) with an Underperform and Ford (F) with a Neutral. 4. Mobileye (MBLY) initiated with a Buy at Needham. 5. Alarm.com (ALRM) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/20/16
BMOC
12/20/16
INITIATION
Target $38
BMOC
Market Perform
General Motors initiated with a Market Perform at BMO Capital
BMO Capital analyst Richard Carlson initiated General Motors with a Market Perform and a $38 price target.
12/09/16
JPMS
12/09/16
NO CHANGE
Target $43
JPMS
Overweight
JPMorgan more concerned about Tesla after spending day with GM
JPMorgan analyst Ryan Brinkman is even more concerned that Tesla (TSLA) will have a difficult time realizing its profit objectives in the increasingly competitive market for electric vehicles after spending a day with General Motors (GM). GM is first to market amongst all automakers globally with a "modestly" priced battery electric vehicle with substantial range, or in excess of 238 miles, Brinkman tells investors in a research note after meeting with GM CFO Chuck Stevens and test driving the new Chevrolet Bolt EV. Further, the analyst points out that GM plans to extend the Bolt beyond sales to consumers and into ride-sharing applications, including of the autonomous variety. Bolt represents "solid competition" for the upcoming Tesla Model 3 at a time when the electric vehicle pricing model is "challenged" with a number of automakers chasing a still limited number of vehicle customers, Brinkman contends. He thinks Tesla will find it increasingly more difficult to profitably compete. The analyst reiterates an Overweight rating on GM and an Underweight rating on Tesla. Shares of Tesla are trading down $1.31 to $190.98 in pre-market trading.
12/28/16
PIPR
12/28/16
NO CHANGE
PIPR
Piper lays out top Auto and Truck picks into 2017
Piper Jaffray analyst Alexander Potter ranked his auto- and truck-related stocks in order of conviction heading into 2017. His top three names are General Motors (GM), Delphi (DLPH) and Mobileye (MBLY). Mobileye offers the most "compelling upside potential" at almost 70%, but also the most risk, Potter tells investors in a research note on the Autos, Trucks, and Advanced Mobility space. As such, the stock sits third behind GM and Delphi in order of preference. After a strong showing in 2016, the analyst thinks most of the truck stocks will struggle to outperform in 2017. He calls Allison Transmission (ALSN) a notable Underweight.
WMT Wal-Mart
$68.25

-0.46 (-0.67%)

01/06/17
CLVD
01/06/17
NO CHANGE
CLVD
Wal-Mart Holiday sales slightly below channel expectations, says Cleveland
Cleveland Research said Wal-Mart Holiday sales appear slightly below channel expectations and lowered its comp estimate to the low end of guidance to up 1% from 1-1.5% prior, versus consensus of 1.4%.
12/13/16
KEYB
12/13/16
NO CHANGE
KEYB
Wal-Mart could be hurt by border adjustment legislation, says KeyBanc
KeyBanc believes that Wal-Mart could be hurt by border adjustment legislation being considered by House Republicans. According to the firm, "the border adjustment taxes an item that is imported from a foreign country and rebates it when it is exported outside of the country." Wal-Mart could be significantly hurt by such legislation because it has "more limited ability to pass along higher costs," KeyBanc stated. The firm keeps a $90 price target and an Overweight rating on Wal-Mart.
11/23/16
UBSW
11/23/16
NO CHANGE
Target $100
UBSW
Buy
Dollar Tree price target raised to $100 from $90 at UBS
UBS analyst Michael Lasser raised his price target on Dollar Tree (DLTR) to $100 from $90 following Q3 results. The analyst said the company's results eased a number of fears and demonstrated it could hold its own against competitors such as Wal-Mart (WMT). Dollar Tree exhibited comp growth, and its merger with Family dollar is providing synergies within its guidance, said Lasser, who reiterated his Buy rating on the shares.
01/05/17
OPCO
01/05/17
NO CHANGE
OPCO
Traditional chains fighting back as Amazon remains leader, says Oppenheimer
Oppenheimer analyst Brian Nagel says that during the Holiday season his firm ordered one item from eight Hardlines/Broadlines retailers and performed an informal test to see how the shopping experience compared to Amazon (AMZN). While the analyst notes that the e-commerce giant remains the leader online, he says traditional chains are fighting back with sharper pricing and improvements to fulfillment and return capabilities. Among traditional chains, Bed Bath & Beyond (BBBY), Costco (COST), and Wal-Mart (WMT) performed best on pricing, while Best Buy (BBY) scored as the best in fulfillment, Nagel says.
YHOO Yahoo
$42.30

0.96 (2.32%)

10/21/16
10/21/16
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. Yahoo (YHOO) downgraded to Hold from Buy at Jefferies with analyst Brian Fitzgerald citing valuation. 2. Skechers (SKX) downgraded to Neutral from Buy at Citi with analyst Corinna Van der Ghinst saying visibility over the next 12 months is "challenging." 3. Signature Bank (SBNY) downgraded to Market Perform from Outperform at BMO Capital with analyst Lana Chan saying the New York taxi portfolio is a lingering concern and a proactive reserve build or mark down would relieve an overhang. 4. Union Pacific (UNP) downgraded to Market Perform from Outperform at Cowen with analyst Walter Spracklin saying trends in pricing and margins are a concern and appear to be company specific. 5. Gastar Exploration (GST) downgraded to Market Perform from Outperform at FBR Capital analyst Chad Mabry citing valuation after the stock rallied 25%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/05/17
RHCO
01/05/17
NO CHANGE
RHCO
Verizon likely to proceed with Yahoo acquisition, says SunTrust
After Bloomberg reported that Verizon (VZ) was seeking a $5.5B loan, SunTrust analyst Kunal Madhukar says that, assuming the report is accurate, the loan would probably be used to finance Verizon's takeover of Yahoo's (YHOO) core business. The analyst says that if the report is accurate, the deal will probably proceed. Madhukar keeps a Hold rating on Yahoo.
10/28/16
OPCO
10/28/16
NO CHANGE
Target $1000
OPCO
Outperform
Alphabet price target raised to $1000 from $970 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Alphabet (GOOG) to $1000 from $970 following "strong" Q3 results. The analyst believes Alphabet continues to benefit from the same trends, namely demand for mobile clicks driven by improved ad formats, YouTube ads and shift to programmatic. Further, he sees Google Cloud as the fastest growing unit, and expects increased investor focus in 2017. Meanwhile, Helfstein sees no material signs of share loss to Facebook (FB), with Alphabet gaining from Yahoo (YHOO)/Microsoft (MSFT) and other search players. The analyst reiterates an Outperform rating on Alphabet's shares.
10/25/16
OPCO
10/25/16
NO CHANGE
Target $970
OPCO
Outperform
Oppenheimer remains bullish on Alphabet ahead of earnings
Oppenheimer analyst Jason Helfstein remains bullish on Alphabet (GOOG; GOOGL) ahead of its Q3 earnings release. However, the analyst sees more headwinds than in the Q2 as agency holding company results suggest a slowdown in large-company ad spending on U.S. presidential/political in U.S./Europe. On the positive side, Helfstein says U.S. retail sales remains healthy and YouTube usage remains strong. Furthermore, he expects moderate ad spend increase in Asia/Europe/Latin America and share gains from Yahoo (YHOO)/Microsoft (MSFT). The analyst reiterates an Outperform rating and $970 price target on the shares.
VZ Verizon
$52.77

0.09 (0.17%)

01/03/17
BTIG
01/03/17
NO CHANGE
BTIG
BTIG views Zayo as potential target for cable operators
An acquisition of Zayo Group (ZAYO) could extend the fiber footprint of cable operators like Comcast (CMCSA), BTIG analyst Walter Piecyk tells investors in a research note. He views Zayo's $13B enterprise value as "digestible" for the cable companies, but notes Verizon Communications (VZ) or Crown Castle (CCI) could be interested in a competitive bid should Zayo be "put in play." Shares of Zayo are up 16c to $33.02 in afternoon trading.
01/03/17
01/03/17
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. Evercore ISI analyst Vijay Jayant upgraded Disney (DIS) to Buy from Hold, named it Top Pick for 2017, and raised its price target to $120 from $103. Jayan believes Disney's valuation reflects well-understood short-term growth challenges at ESPN and tough Studio and Consumer Products growth comparisons. 2. Wells Fargo analyst Marci Ryvicker upgraded 21st Century Fox (FOXA) to Outperform saying the market could be surprised by the synergies from the Sky deal. The analyst also believes concerns over the Regional Sports Networks being excluded from the streaming bundles are overblown. She expects consensus estimates to go up not down and raised her price target range for the shares to $33-$35 from $28-$30. 3. Citi analyst Michael Rollins upgraded Verizon (VZ) Communications to Buy from Neutral and raised his price target for the shares to $60 from $55. 4. Evercore ISI upgraded PACCAR (PCAR) to Buy from Hold and raised its price target to $77 from $59, with analyst David Raso saying he is incrementally bullish on the Industrials and Machinery sector since his pre-US election sector upgrade. 5. Credit Suisse upgraded Xerox (XRX) to Outperform from Neutral. Analyst Kulbinder Garcha changed his rating following the Conduent (CNDT) spin-off citing a more focused printing business, potential upside to cost savings, and management's realistic vision and a well laid out long-term strategy to offset end market decline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/17
SBSH
01/03/17
UPGRADE
Target $60
SBSH
Buy
Verizon upgraded to Buy from Neutral at Citi
Citi analyst Michael Rollins upgraded Verizon Communications to Buy and raised his price target for the shares to $60 from $55. The shares closed Friday down 36c to $53.38. The stock can reach $69 if everything were to go the company's way with respect to spectrum, tax reform, and its growth strategy for 5G, Rollins tells investors in a research note. He sees potential for valuation expansion citing Verizon's improving cash flow and expanding addressable market for revenue.
BABA Alibaba
$96.69

1.97 (2.08%)

01/09/17
STPT
01/09/17
UPGRADE
Target $113
STPT
Accumulate
Alibaba upgraded to Accumulate from Hold at Standpoint Research
Price target $113.
01/03/17
ROTH
01/03/17
NO CHANGE
Target $8.5
ROTH
Buy
Alibaba partnership further validates Remark Media KanKan, says Roth Capital
Roth Capital analyst Darren Aftahi says Remark Media's (MARK) partnership with Alibaba (BABA) Cloud for artificial intelligence further deepens its relationship with the latter. The analyst believes the opportunity is incremental to its credit scoring product with Alibaba and allows Remark Media addition monetization opportunities within Alibaba Cloud's ecosystem. While Aftahi expects P&L impact could be later in 2017, it gives him further confidence that his $5M KanKan 2017 revenue estimate could prove conservative. He reiterates a Buy rating and $8.50 on Remark Media's shares.
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.
12/28/16
EVER
12/28/16
NO CHANGE
EVER
Amazon, Alibaba named top Internet picks for 2017 at Evercore ISI
Evercore ISI Ken Sena looked ahead to what 2017 may likely bring in the Internet space, saying he believes scale in audience and infrastructure will continue to matter most. In that context, he called Amazon (AMZN) his top pick, seeing it as best positioned to leverage the growing data science trend. Alibaba (BABA), which he sees as a very attractive China ecommerce story with 440M active buyers, is another preferred recommendation, said Sena, who also listed Facebook (FB), Alphabet (GOOG), JD.com (JD), Priceline (PCLN) and Tencent (TCEHY) as additional buys in the coming year.
VRX Valeant
$16.41

1.0601 (6.91%)

01/10/17
WELS
01/10/17
NO CHANGE
WELS
Underperform
Valeant hiked prices on over 50 products last week, says Wells Fargo
Wells Fargo analyst David Maris said last night that on January 6, Valeant Pharmaceuticals implemented 95 different price increases across more than 50 products. This shows the company continues to rely on price as a means of growth and may also signal that Valeant's prescription volumes continue to remain challenged, Maris told investors in a research note. He reminds investors that Friday's price hikes "come on top of significant price increases--some of them more than 100%--taken on products in previous years and several taken in late 2016." Maris continues to believe the "new Valeant" is the "same Valeant using the same strategy and pricing levers that have been used before." The analyst keeps an Underperform rating on the shares with a $10-$13 price target range. The stock is up 12% to $17.20 in pre-market trading following the announcement of several asset sales.
01/04/17
PIPR
01/04/17
NO CHANGE
Target $11
PIPR
Underweight
Piper calls Valeant 'not investable,' cuts target to $11
Piper Jaffray analyst David Amsellem cut his price target for Valeant Pharmaceuticals to $11 from $16 and reiterates an Underweight rating on the shares. The drugmaker closed yesterday up 72c to $15.24. After taking a closer look at prescription trends across the company's U.S. business, Amsellem believes shares of Valeant are "not investable." The company faces "significant pressure" from generic competition on high-margin assets while the "picture on the whole continues to look challenging," the analyst tells investors in a research note. He believes the likelihood of "significant pressure on the shares is far higher than that of potential recovery."
01/10/17
01/10/17
NO CHANGE

Wells Fargo says Valeant debt problematic, base business still weak
Wells Fargo analyst David Maris said the proceeds announced today from Valeant's sale of its Dendreon unit, CeraVe and two other products would cover some, but not all, of the approximately $3.8B in debt the company has due in 2018. Valeant has not made clear in its press releases if these deals are dilutive to EPS, noted Maris, who believes the company's debt is problematic and base business remains weak. Maris keeps an Underperform rating on Valeant shares.
01/10/17
BMOC
01/10/17
NO CHANGE
Target $21
BMOC
Market Perform
Valeant sales of Dendreon, CeraVe a 'good start,' says BMO Capital
BMO Capital analyst Gary Nachman said Valeant's (VRX) sales of Dendreon to Sanpower Group and CeraVe, AcneFree and AMBI to L'Oreal (LRLCY) for roughly $2.1B in cash have a combined average sales multiple of 4.4x, which appears to be a "solid price" and a good start for the company as it looks to sell additional assets to address its debt. Nachman also noted that Valeant announced that its second Phase 3 study for IDP-118 was successful, though he remains cautious on the drug given that most psoriasis creams are generic at this point. The analyst keeps a Market Perform rating and $21 price target on Valeant shares, which are up nearly 13% to $17.31 in pre-market trading.
LRLCY L'Oreal
$36.50

0.285 (0.79%)

11/29/16
RBCM
11/29/16
UPGRADE
RBCM
Sector Perform
L'Oreal upgraded on make-up performance, share buyback potential at RBC Capital
As noted earlier, RBC Capital upgraded L'Oreal (LRLCY) to Sector Perform from Underperform. Analyst James Edwards upgraded the stock partly due to what he calls "the outstanding performance" of the company's make-up business. Additionally, he believes that the company could launch a significant share buyback initiative if Nestle (NSRGY) new CEO chooses to sell that company's 23% stake in L'Oreal. Edwards says that such a scenario is "a very real prospect." Target to $159 from $150.
09/09/16
BREN
09/09/16
INITIATION
BREN
Hold
L'Oreal initiated with a Hold at Berenberg
Price target EUR 172.
11/04/16
STFL
11/04/16
UPGRADE
STFL
Buy
L'Oreal upgraded to Buy from Hold at Stifel
Stifel analyst Mark Astrachan upgraded L'Oreal based on the acceleration of the company's sales growth in Q3. The analyst thinks that the acceleration indicates that the company is "gaining meaningful share" of the global beauty market, and he predicts that its sales will increase at least 4%-5% over the next two to three years.
11/29/16
RBCM
11/29/16
UPGRADE
RBCM
Sector Perform
L'Oreal upgraded to Sector Perform from Underperform at RBC Capital
RBC Capital analyst James Edwardes Jones upgraded L'Oreal to Sector Perform with a price target of EUR 159.
ILMN Illumina
$165.04

23.5 (16.60%)

01/10/17
PIPR
01/10/17
NO CHANGE
Target $170
PIPR
Overweight
Illumina price target raised to $170 from $148 at Piper Jaffray
Piper Jaffray analyst William Quirk raised his price target for Illumina to $170 saying the company's new high-throughput platform, NovaSeq, could "spawn a multi-year upgrade cycle." The shares typically perform well during upgrade cycles, Quirk tells investors in a research note. He keeps an Overweight rating on Illumina.
01/10/17
LEER
01/10/17
NO CHANGE
Target $132
LEER
Market Perform
Illumina price target raised to $132 from $114 at Leerink
Leerink analyst Puneet Souda raised his price target for Illumina to $132 from $114 after the company announced Q4 sales, 2017 revenue and EPS guidance, and announced the launch of NovaSeq high-throughput sequencing platform. The analyst says that while he sees this instrument upgrade as "meaningful," Souda believes it will only deliver additional capacity into a market already experiencing overcapacity in the near-term. He reiterates a Market Perform on the shares.
01/10/17
BOFA
01/10/17
UPGRADE
Target $175
BOFA
Buy
Illumina upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Derik de Bruin upgraded Illumina to Buy and raised its price target to $175 from $145 following the announcement of a new sequencing platform, the NovaSeq. The analyst believes the NovaSeq is a substantial improvement over the current high-end sequencing platform, the HiSeq family, and will be a major new product cycle driving top-line acceleration and approximately 20% earnings growth in 2018.
01/06/17
KING
01/06/17
UPGRADE
KING
Buy
Illumina upgraded to Buy from Neutral at CL King
BIO Bio-Rad
$188.74

0.36 (0.19%)

10/12/16
KING
10/12/16
INITIATION
Target $185
KING
Buy
Bio-Rad initiated with a Buy at CL King
Target $185.
09/07/16
JEFF
09/07/16
NO CHANGE
Target $225
JEFF
Buy
Jefferies calls Bio-Rad most under-appreciated asset it covers
Jefferies analyst Brandon Couillard raised his price target for Bio-Rad Laboratories to $225 from $200 after performing an analysis on the company's multi-year valuation creation opportunity. A "trough valuation on trough earnings make BIO the most under-appreciated asset in our universe," Couillard tells investors in a research note. The company is "on the cusp of a profit margin & ROIC inflection that is now investable," the analyst argues. He believes expectations for Bio are low and keeps a Buy rating on the name. Bio-Rad, a manufacturer and distributor of life science research and clinical diagnostics products, closed yesterday up 52c to $151.66.
SRPT Sarepta
$37.89

6.63 (21.21%)

01/06/17
JMPS
01/06/17
NO CHANGE
Target $65
JMPS
Outperform
Sarepta price target lowered to $65 after physician survey at JMP Securities
JMP Securities analyst Liisa Bayko reported the firm conducted its first survey of U.S. physicians who treat Duchenne muscular dystrophy patients to gauge early experiences with Sarepta's Exondys 51. At the end of 2016, respondents had written a prescription to about 1 in 5 eligible patients, 1 in 5 were denied coverage and about 15% were in the adjudication process, noted Bayko, who lowered her price target on Sarepta to $65 from $90 to adjust for the survey results as well as an updated pricing analysis. Bayko keeps an Outperform rating on Sarepta and said she sees potential upside to about $160 per share if Exondys 51 is approved in the EU and if all of its earlier-stage assets targeting exons 45/53 are successful.
01/10/17
PIPR
01/10/17
NO CHANGE
Target $68
PIPR
Overweight
Piper says Sarepta Q4 sales topped estimate
Piper Jaffray analyst Edward Tenthoff says Sarepta Therapeutics' Q4 Exondys 51 sales of $5.4M beat his estimate of $4.5M. The company is making good progress on reimbursement and expects payor conversions to accelerate in Q2, Tenthoff tells investors in a research note. He estimates U.S. Exondys 51 sales of $274M in 2017 with peak U.S. sales of greater than $500M. Tenthoff reiterates an Overweight rating on Sarepta with a $68 price target.
01/10/17
LEER
01/10/17
NO CHANGE
LEER
Market Perform
Leerink discusses discrepancy between Sarepta revenue, start forms
Leerink analyst Joseph Schwartz says that for Sarepta Therapeutics to meet the Q4 revenue estimate of $6.0M, he anticipated a greater than 200 start form number. The company, however, reported $5.4M in sales despite a start form number of over 250. The discrepancy between start forms and the revenue miss could be due to several factors, including the translatability of start forms to reimbursed written prescriptions and patient demographics, Schwartz tells investors in a research note. Continued push-back from payors that limit reimbursement could render the start form number inaccurate, he contends. The analyst views today's numbers from Sarepta as "encouraging," but sees room for improvement. Schwartz keeps a Market Perform rating on the shares.
01/10/17
BARD
01/10/17
NO CHANGE
Target $102
BARD
Outperform
Baird expects Sarepta 'relief rally' on launch update
Baird analyst Brian Skorney expects a "relief rally" in shares of Sarepta Therapeutics after the company announced Exondys 51 sales of $5.4M and greater than 250 patient start forms were submitted by year-end. If the shares were at $60, the sales figure would be a disappointment, but expectations have been lowered and whisper numbers were nearing negative territory, Skorney tells investors in a research note following Sarepta's JPMorgan Conference presentation. "This is just the beginning," as the company has dystrophin data coming from SRP-4053 in exon-53-amenable patients in the first half of 2017 and data plans to advance at least three additional assets, the analyst contends. Skorney keeps an Outperform rating on Sarepta with a $102 price target.
ASNA Ascena Retail
$5.41

-0.6 (-9.98%)

12/15/16
GSCO
12/15/16
INITIATION
Target $7
GSCO
Neutral
Ascena Retail initiated with a Neutral at Goldman
Goldman Sachs analyst Lindsay Drucker Mann started Ascena Retail with a Neutral rating and $7 price target.
09/20/16
09/20/16
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. Ford (F) downgraded to Neutral from Buy at Buckingham with analyst Joseph Amaturo saying he believes North American volume and pricing trends for trucks will deteriorate and is concerned that the passenger car market will remain challenged given stiff competition from Japanese and European OEMs that can heavily discount due to weak currencies. 2. General Mills (GIS) downgraded to Underperform from Neutral at Consumer Edge. 3. Ascena Retail (ASNA) downgraded to Sector Perform from Outperform at RBC Capital and to Perform from Outperform at Oppenheimer. 4. Avnet (AVT) downgraded to Hold from Buy at Stifel and to Sell from Hold at Cross Research. 5. HD Supply (HDS) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray saying it will take several quarters for the company to address its supply chain errors, and she expects the stock "to stay range bound over the medium term." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/16
RHCO
09/20/16
NO CHANGE
RHCO
Ascena Retail outlook still positive despite Q4 miss, says SunTrust
SunTrust analyst Pamela Quintiliano says that Ascena's initiatives remain on track, as the momentum of its Justice unit should continue during the holiday season. She thinks that the company has multiple additional near-term positive catalysts. The analyst cut her price target on the shares to $8 from $10 but keeps a Buy rating on the stock.
09/20/16
RBCM
09/20/16
DOWNGRADE
RBCM
Sector Perform
Ascena Retail downgraded on Q4 results at RBC Capital
As noted earlier, RBC Capital downgraded Ascena to Sector Perform from Outperform. Analyst Brian Tunick downgraded the stock based on the company's Q4 EPS miss and its lower than expected fiscal 2017 EPS guidance. Target $7.
WMB Williams
$28.47

-3.46 (-10.84%)

01/10/17
LEHM
01/10/17
DOWNGRADE
LEHM
Equal Weight
Williams downgraded to Equal Weight from Overweight at Barclays
01/10/17
JEFF
01/10/17
DOWNGRADE
Target $32
JEFF
Hold
Williams downgraded to Hold from Buy at Jefferies
Jefferies analyst Christopher Sighinolfi downgraded Williams (WMB) to Hold saying Williams Partners (WPZ) is the greater beneficiary from the company's efforts to simply its corporate structure. The analyst lowered his price target for Williams to $32.
12/19/16
12/19/16
UPGRADE
Target $35

Overweight
Williams upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley upgraded Williams (WMB) to Overweight from Equal Weight and raised its price target to $36 from $26. Analyst Tom Abrams said management has made progress stabilizing the company and is taking a "fresh loo" at the Williams/Williams Partners (WPZ) structure. He believes a consolidation transaction with Williams buying Williams Parters may be the preferred remedy and would reduce downside risk and improve free cash flow visibility.
01/10/17
BERN
01/10/17
NO CHANGE
BERN
Williams shares should be bought on weakness, says Bernstein
Bernstein analyst Jean Ann Salisbury was disappointed by Williams' (WMB) "financial repositioning" moves, as she wanted the company to continue carrying out the plan that it had announced in August. However, she notes that her free cash flow estimates for the company have not changed, and she says that its decision to eliminate its IDRs will result in greater simplicity. The analyst keeps a $35 price target and an Outperform rating on Williams and a $42 price target and an Outperform rating on Williams Partners (WPZ).
WPZ Williams Partners
$38.67

0.01 (0.03%)

12/05/16
LEHM
12/05/16
INITIATION
Target $37
LEHM
Equal Weight
Williams Partners reinstated with an Equal Weight at Barclays
Barclays analyst Christine Cho reinstated coverage of Williams Partners with an Equal Weight rating and $37 price target.
01/10/17
STFL
01/10/17
UPGRADE
STFL
Buy
Williams Partners upgraded to Buy from Hold at Stifel
Stifel analyst Selman Akyol upgraded Williams Partners after the company's "financial repositioning" moves. The analyst thinks that the changes address his previous concerns about the company's high cost of capital. He believes that the moves leave the company well-positioned for "sustainable growth" going forward. Target to $43 from $37.

TODAY'S FREE FLY STORIES

03:05
01/23/17
01/23
03:05
01/23/17
03:05
General news
FX Update: USD-JPY led broader dollar declines »

FX Update: USD-JPY led…

AAPL

Apple

$120.00

0.22 (0.18%)

, HNHPF

Hon Hai Precision

$5.10

0.05 (0.99%)

21:36
01/22/17
01/22
21:36
01/22/17
21:36
Hot Stocks
On The Fly: Top five weekend stock stories »

Catch up on the…

AAPL

Apple

$120.00

0.22 (0.18%)

HNHPF

Hon Hai Precision

$5.10

0.05 (0.99%)

QCOM

Qualcomm

$62.88

-1.56 (-2.42%)

YHOO

Yahoo

$42.05

-0.04 (-0.10%)

VZ

Verizon

$52.72

0.36 (0.69%)

CYNO

Cynosure

$43.85

-0.15 (-0.34%)

AGN

Allergan

$214.34

-0.24 (-0.11%)

KATE

Kate Spade

$17.76

-0.07 (-0.39%)

COH

Coach

$35.31

0.21 (0.60%)

KORS

Michael Kors

$42.46

0.43 (1.02%)

SSNLF

Samsung

GOOG

Alphabet

$805.02

2.845 (0.35%)

GOOGL

Alphabet Class A

$828.17

3.8 (0.46%)

GME

GameStop

$23.58

0.27 (1.16%)

PDCO

Patterson Companies

$40.84

0.15 (0.37%)

DIS

Disney

$107.66

0.38 (0.35%)

CF

CF Industries

$34.20

1.95 (6.05%)

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UAL

United Continental

$75.24

1.22 (1.65%)

21:09
01/22/17
01/22
21:09
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21:09
Hot Stocks
United says lifts domestic ground stop »

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SSNLF

Samsung

20:56
01/22/17
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Samsung reveals cause of Note7 combustion, cites several battery defects »

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PDM

Piedmont Office Realty

$21.44

0.38 (1.80%)

20:39
01/22/17
01/22
20:39
01/22/17
20:39
Upgrade
Piedmont Office Realty rating change  »

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UAL

United Continental

$75.24

1.22 (1.65%)

20:34
01/22/17
01/22
20:34
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20:34
Hot Stocks
United Air: Ground stop in place for domestic flights due to IT issue »

United Airlines tweeted…

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PAG

Penske Automotive

$52.20

-0.24 (-0.46%)

20:30
01/22/17
01/22
20:30
01/22/17
20:30
Periodicals
Penske Automotive backs off 'no haggle' experiment, Auto News says »

Speaking in an Automotive…

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03/08/13
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  • 07

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MCD

McDonald's

$122.26

0.08 (0.07%)

, HAL

Halliburton

$56.45

1.11 (2.01%)

20:25
01/22/17
01/22
20:25
01/22/17
20:25
Earnings
Notable companies reporting before Monday's open »

Notable companies…

MCD

McDonald's

$122.26

0.08 (0.07%)

HAL

Halliburton

$56.45

1.11 (2.01%)

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

Yahoo

$42.05

-0.04 (-0.10%)

, VZ

Verizon

$52.72

0.36 (0.69%)

20:13
01/22/17
01/22
20:13
01/22/17
20:13
Periodicals
SEC opens investigation into Yahoo cybersecurity breaches, WSJ says »

Yahoo (YHOO) faces an SEC…

YHOO

Yahoo

$42.05

-0.04 (-0.10%)

VZ

Verizon

$52.72

0.36 (0.69%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 24

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TM

Toyota

$118.92

-0.39 (-0.33%)

20:04
01/22/17
01/22
20:04
01/22/17
20:04
Hot Stocks
Toyota reports 2016 North America production 2.1M vehicles »

Toyota released its 2016…

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F

Ford

$12.36

-0.07 (-0.56%)

20:01
01/22/17
01/22
20:01
01/22/17
20:01
Hot Stocks
Ford says launching London trial of plug-in hybrid vans »

Ford stated Friday it is…

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  • 26

    Jan

YHOO

Yahoo

$42.05

-0.04 (-0.10%)

, VZ

Verizon

$52.72

0.36 (0.69%)

19:57
01/22/17
01/22
19:57
01/22/17
19:57
Periodicals
Yahoo faces SEC probe over cybersecurity breaches, Dow Jones says »

The probe centers on…

YHOO

Yahoo

$42.05

-0.04 (-0.10%)

VZ

Verizon

$52.72

0.36 (0.69%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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BRK.A

Berkshire Hathaway

$240,280.00

1160 (0.49%)

, BRK.B

Berkshire Hathaway

$160.21

0.8 (0.50%)

19:30
01/22/17
01/22
19:30
01/22/17
19:30
Periodicals
Berkshire Hathaway unit acquires Wilhelm Schulz, Bloomberg says »

Berkshire Hathaway…

BRK.A

Berkshire Hathaway

$240,280.00

1160 (0.49%)

BRK.B

Berkshire Hathaway

$160.21

0.8 (0.50%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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PNFP

Pinnacle Financial

$63.30

0.7 (1.12%)

, BNCN

BNC Bancorp

$33.20

0.75 (2.31%)

19:25
01/22/17
01/22
19:25
01/22/17
19:25
Hot Stocks
Pinnacle Financial to acquire BNC Bancorp in $1.9B all-stock transaction »

Pinnacle Financial…

PNFP

Pinnacle Financial

$63.30

0.7 (1.12%)

BNCN

BNC Bancorp

$33.20

0.75 (2.31%)

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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BNCN

BNC Bancorp

$33.20

0.75 (2.31%)

19:09
01/22/17
01/22
19:09
01/22/17
19:09
Earnings
BNC Bancorp reports Q4 operating EPS 43c, consensus 42c »

Reports Q4 NII $61.5M vs.…

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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FB

Facebook

$127.04

-0.51 (-0.40%)

19:04
01/22/17
01/22
19:04
01/22/17
19:04
Periodicals
Steelers receiver has 'big-time' marketing deal with Facebook, NFL.com says »

Pittsburgh Steelers wide…

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AMZN

Amazon.com

$808.33

-0.71 (-0.09%)

18:58
01/22/17
01/22
18:58
01/22/17
18:58
Hot Stocks
Amazon launches digital Dash Buttons »

Amazon has rolled out a…

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GSBC

Great Southern Bancorp

$50.60

0.4 (0.80%)

17:46
01/22/17
01/22
17:46
01/22/17
17:46
Earnings
Great Southern Bancorp reports preliminary Q4 EPS 83c, consensus 77c »

Reports preliminary Q4…

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CMCSA

Comcast

$73.57

0.96 (1.32%)

, CMCSK

Comcast

16:28
01/22/17
01/22
16:28
01/22/17
16:28
Hot Stocks
Box Office Battle: M. Night Shyamalan thriller 'Split' surprises in $40M debut »

Comcast's (CMCSA)…

CMCSA

Comcast

$73.57

0.96 (1.32%)

CMCSK

Comcast

VIA

Viacom

$44.40

1.15 (2.66%)

VIAB

Viacom

$40.23

0.43 (1.08%)

FOX

21st Century Fox

$29.55

0.34 (1.16%)

FOXA

21st Century Fox

$30.05

0.25 (0.84%)

LGF.A

Lionsgate

$28.20

0.1 (0.36%)

LGF.B

Lionsgate

$26.01

0.07 (0.27%)

DIS

Disney

$107.66

0.38 (0.35%)

SNE

Sony

$30.50

0.1 (0.33%)

TWX

Time Warner

$96.11

0.42 (0.44%)

03/08/13
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03/08/13
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03/06/13
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    Feb

TSLA

Tesla

$244.73

0.97 (0.40%)

15:46
01/22/17
01/22
15:46
01/22/17
15:46
Hot Stocks
Tesla CEO: Expect 'major' technology revisions every 12-18 months »

Responding to customer…

03/08/13
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03/06/13
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CYNO

Cynosure

$43.85

-0.15 (-0.34%)

, AGN

Allergan

$214.34

-0.24 (-0.11%)

15:37
01/22/17
01/22
15:37
01/22/17
15:37
Periodicals
Cynosure explores strategic alternatives, Bloomberg says »

Cynosure (CYNO) is…

CYNO

Cynosure

$43.85

-0.15 (-0.34%)

AGN

Allergan

$214.34

-0.24 (-0.11%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 07

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AAPL

Apple

$120.00

0.22 (0.18%)

, HNHPF

Hon Hai Precision

$5.10

0.05 (0.99%)

15:35
01/22/17
01/22
15:35
01/22/17
15:35
Periodicals
Foxconn considers $7B U.S. facility with Apple, Nikkei says »

Foxconn (HNHPF) is…

AAPL

Apple

$120.00

0.22 (0.18%)

HNHPF

Hon Hai Precision

$5.10

0.05 (0.99%)

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

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  • 31

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JPM

JPMorgan

$83.67

0.37 (0.44%)

15:23
01/22/17
01/22
15:23
01/22/17
15:23
Hot Stocks
JPMorgan Asset Management signs letter of intent to license Precidian technology »

JPMorgan Asset Management…

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SRE

Sempra Energy

$102.44

0.36 (0.35%)

, TSLA

Tesla

$244.73

0.97 (0.40%)

15:16
01/22/17
01/22
15:16
01/22/17
15:16
Hot Stocks
Sempra unit proposes to install 'tens of thousands' of vehicle charging stations »

Sempra Energy's…

SRE

Sempra Energy

$102.44

0.36 (0.35%)

TSLA

Tesla

$244.73

0.97 (0.40%)

GM

General Motors

$37.01

-0.29 (-0.78%)

F

Ford

$12.36

-0.07 (-0.56%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 26

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QCOM

Qualcomm

$62.88

-1.56 (-2.42%)

, AAPL

Apple

$120.00

0.22 (0.18%)

15:07
01/22/17
01/22
15:07
01/22/17
15:07
Hot Stocks
Qualcomm responds to Apple suit, says actively encouraged regulatory attacks »

Qualcomm (QCOM) general…

QCOM

Qualcomm

$62.88

-1.56 (-2.42%)

AAPL

Apple

$120.00

0.22 (0.18%)

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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