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ORCL

Oracle

$45.73

2.68 (6.23%)

, TSLA

Tesla

$262.05

6.32 (2.47%)

16:23
03/16/17
03/16
16:23
03/16/17
16:23

On The Fly: Top stock stories for Thursday

Stocks began the session in positive territory as the rally that followed yesterday's rate announcement from the Federal Reserve looked ready to continue. The averages saw their highs a short time after the open and then slowly lost ground until crossing into negative ground. Stocks drifted in negative territory for most of the remainder of the day while oil prices also drifted and closed slightly lower. ECONOMIC EVENTS: In the U.S., jobless claims fell 2,000 to 241,000 in the week ended March 11, after the prior week's 20,000 jump to 243,000. Housing starts rebounded 3.0% to a 1.29M rate in February after tumbling 1.9% to a 1.25M rate in January. The Philly Fed manufacturing index for March fell 10.5 points to 32.8 after surging 19.7 points higher to 43.3 in February. The JOLTS report showed job openings rose 87,000 to 5.6M in January after declining 92,000 to 5.5M in December. Gas inventories drew down by 53 billion cubic feet versus the consensus forecast for a 57 billion cubic feet draw. In Europe, the Bank of England's Monetary Policy Committee voted by a majority of 8-1 to maintain its Bank Rate at 0.25% and keeps its asset buying program unchanged. COMPANY NEWS: Shares of Oracle (ORCL) gained about 6.25% after the company reported stronger than expected profits and said that its cloud business had grown 85% year-over-year in its third fiscal quarter. JPMorgan and JMP Securities responded by upgrading their ratings on the stock, while research firm Canaccord increased its price target following the report... Tesla's (TSLA) stock rose 2.5% after the electric car maker announced offerings of $250M of common stock and $750M of convertible notes. The additional capital is needed as the company moves forward on its production of the Model 3 sedan and to strengthen its balance sheet, with Tesla CEO Elon Musk participating in the fundraising by purchasing $25M of the company's stock... 3M (MMM) announced that it has entered into a definitive agreement to acquire Scott Safety from Johnson Controls (JCI) for a total enterprise value of $2B... Twitter (TWTR) made headlines again today following yesterday's media reports saying that hundreds of accounts have been hacked, including those owned by popstar Justin Bieber and Forbes, and were branded with the Turkish flag and messages sent out in the Turkish language. This morning, McDonald's (MCD) said that its account had also been compromised after its corporate account sent out a tweet insulting President Donald Trump... Meanwhile, Snap (SNAP) closed below $20 for the first time since its IPO, sliding 4.25% to end the day at $19.89. Another research firm was bearish on the stock today, as MoffettNathanson analyst Michael Nathanson initiated coverage of Snapchat's parent with a Sell rating and a $15 price target. MAJOR MOVERS: Among the notable gainers was GoPro (GPRO), which advanced 15.8% after the action camera manufacturer announced 270 job cuts and pre-announced that its first quarter earnings would be at the high end of guidance. Also higher was Williams-Sonoma (WSM), which gained about 2.4% after reporting fourth quarter adjusted earnings per share that topped consensus estimates and saying it will raise its quarterly dividend by 5%. Among the noteworthy losers was Guess (GES), which dropped 11.4% after the apparel and accessories company reported quarterly earnings that missed expectations and offered weak guidance. Also lower was Biogen (BIIB), which slipped 4.7% after two research firms cut the stock to neutral-equivalent ratings. Leerink cited a slower than expected start for the company's spinal muscular atrophy drug Spinraza and the completion of several important catalysts as the reasons behind the downgrade, while Morgan Stanley said it was moving to the sidelines due to limited upside for the stock in the near-term. INDEXES: The Dow fell 15.55, or 0.07%, to 20,934.55, the Nasdaq lost 0.71, or 0.01%, to 5,900.76, and the S&P 500 declined 3.88, or 0.16%, to 2,381.38.

ORCL

Oracle

$45.73

2.68 (6.23%)

TSLA

Tesla

$262.05

6.32 (2.47%)

SNAP

Snap

$19.89

-0.88 (-4.24%)

TWTR

Twitter

$15.19

0.16 (1.06%)

MCD

McDonald's

$127.98

0.1 (0.08%)

MMM

3M

$190.31

-0.89 (-0.47%)

JCI

Johnson Controls

$41.77

-0.16 (-0.38%)

GPRO

GoPro

$8.51

1.16 (15.78%)

WSM

Williams-Sonoma

$49.25

1.13 (2.35%)

GES

Guess

$10.85

-1.38 (-11.28%)

BIIB

Biogen

$278.96

-13.68 (-4.67%)

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ORCL Oracle
$45.73

2.68 (6.23%)

03/16/17
JMPS
03/16/17
UPGRADE
JMPS
Market Perform
Oracle upgraded to Market Perform from Underperform at JMP Securities
JMP Securities analyst Patrick Walravens upgraded Oracle to Market Perform following the company's Q3 results. The analyst raised his earnings estimates and believes the stock at current levels offers fair value. JPMorgan this morning upgraded Oracle to Overweight.
03/16/17
BERN
03/16/17
NO CHANGE
BERN
Oracle 'continuing to turn the corner,' says Bernstein
After Oracle reported stronger than expected Q3 results, Bernstein analyst Mark Moerdler says that the company "is continuing to turn the corner." The analyst notes that the average rate of return of the company's organic cloud bookings growth came in at 50%-60%. He is impressed by this metric and believes that the company is "continuing to turn the corner," driven by its cloud business. Moerdler expects the company's multiple to expand going forward and he keeps an Outperform rating on the shares.
03/16/17
03/16/17
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. Oracle (ORCL) was upgraded to Market Perform from Underperform at JMP Securities and to Overweight from Neutral at JPMorgan. 2. GoPro (GPRO) upgraded to Neutral from Sell at Citi with analyst Stanley Kovler saying the recent stabilization in revenue as well as the company's "significant" restructuring initiatives accelerate its path to profitability to 2017 from 2019. These developments should, at the very least, stave off the bear scenario for a few quarters, Kovler tells investors in a research note. He raised his price target for GoPro shares to $9 from $8. 2. TJX (TJX) upgraded to Conviction Buy from Buy at Goldman with analyst Matthew Fassler saying the company offers long-term secular growth along with near-term catalysts. The analyst expects TJX to grow market share at the expense of department stores. 4. Inovio (INO) upgraded to Buy from Hold at Maxim with analyst Jason McCarthy saying it has multiple earlier stage programs moving forward with more significant data points coming in 2017 while it moves closer to its pivotal study in cervical dysplasia. He notes that his model assumes that VGX-3100 is commercialized in 2021 for cervical dysplasia. 5. Quest Diagnostics (DGX) upgraded to Neutral from Underperform at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/16/17
ADAM
03/16/17
NO CHANGE
Target $49
ADAM
Buy
Oracle price target raised to $49 from $45 at Canaccord
Canaccord analyst Richard Davis raised his price target on Oracle to $49 from $45 as he believes its momentum could carry the shares another 10%. Davis believes Oracle's outlook is pretty good and that 2018 should be better as earnings growth should be in the double-digits. He keeps a Buy rating on the shares.
TSLA Tesla
$262.05

6.32 (2.47%)

03/09/17
BERN
03/09/17
INITIATION
BERN
Market Perform
Tesla initiated at Bernstein
As noted earlier, Bernstein analyst A.M. Sacconaghi, Jr started Tesla. with a Market Perform rating and a $250 price target. The analyst thinks that electric vehicles could account for 40% of the auto market in 20 years, and he says that Tesla has three key competitive advantages over its competitors, including a lead in battery technology,unparalleled consumer awareness and brand, and good vertical integration. However, in the near-term the analyst is worried by the company's margin outlook and customer experience which he calls "not strong."
03/16/17
UBSW
03/16/17
NO CHANGE
Target $160
UBSW
Sell
Tesla capital capital raise not enough to address liquidity concerns, says UBS
UBS analyst Colin Langan questioned whether Tesla's latest capital raise of $1B would be enough to fully address the company' liquidity concerns. He said the raise was at the low end of expectations, which could imply another raise later on. Langan reiterated his Sell rating and $160 price target on Tesla shares, citing liquidity and execution as the company's main risks.
03/09/17
03/09/17
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. Tesla (TSLA) initiated at Bernstein. 2. Snap (SNAP) initiated with a Sector Perform at FBN Securities. 3. Mercury Systems (MRCY) initiated with an Overweight at JPMorgan. 4. Versartis (VSAR) initiated with an Overweight at Barclays. 5. First Bank (FRBA) initiated with a Hold at Sandler O'Neill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/16/17
BARD
03/16/17
NO CHANGE
Target $368
BARD
Outperform
Tesla capital raise removes an overhang, says Baird
Baird analyst Ben Kallo views Tesla's capital raise positively and said it removes an overhang on the shares. He feels the raise will help de-risk the Model 3 launch, as it should provide additional capital for Model 3 production equipment and help the company invest in the gigafactory. Kallo sees additional catalysts ahead and reiterated his Buy rating and $368 price target on Tesla shares.
SNAP Snap
$19.89

-0.88 (-4.24%)

03/15/17
03/15/17
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. Snap (SNAP) initiated with an Underweight at Cantor. 2. Pattern Energy (PEGI) initiated with a Neutral at Goldman. 3. Windstream (WIN) reinstated with a Neutral at JPMorgan. 4. ClearOne (CLRO) resumed with a Buy at B. Riley. 5. REV Group (REVG) initiated with an Outperform 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.
03/14/17
CANT
03/14/17
INITIATION
Target $18
CANT
Underweight
Cantor calls Snap valuation 'rich', starts shares at Underweight
Cantor Fitzgerald analyst Youssef Squali initiated shares of Snap after the closing bell with an Underweight rating and $18 price target. Under most scenarios, the stock's valuation is "rich," Squali told investors in a research note. He points out that the Snap's business model is unproven while its management team is "untested." The analyst also highlights the company's slowing growth trends in daily active users as well as its "intense" competitive landscape. Snap closed the trading day down 51c to $20.58.Target $18.
03/16/17
MOFT
03/16/17
INITIATION
Target $15
MOFT
Sell
Snap initiated with a Sell at MoffettNathanson
MoffettNathanson analyst Michael Nathanson started Snap with a Sell rating and $15 price target.
03/16/17
03/16/17
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. Snap (SNAP) initiated with a Sell at MoffettNathanson. 2. Alliant Energy (LNT) initiated with a Neutral at UBS. 3. Carbonite (CARB) initiated with a Buy at Craig-Hallum. 4. Dermira (DERM) initiated with an Underperform at Raymond James. 5. Exelixis (EXEL) initiated with a Perform at Oppenheimer. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
TWTR Twitter
$15.19

0.16 (1.06%)

02/15/17
02/15/17
NO CHANGE

Odeon sees Twitter CEO stock buy bump as opportunity to short
Odeon's Jahanara Nissar would view any strength in Twitter shares after CEO Jack Dorsey publicized his purchase of shares as an opportunity to short the stock. Nissar said the stock purchase probably means a takeover is unlikely near-term, as Dorsey couldn't buy if Twitter was engaged in talks, adding the he bought a "very small" position relative to his overall holdings.
03/02/17
AGIS
03/02/17
INITIATION
Target $22
AGIS
Hold
Snap initiated with a Hold at Aegis
Aegis analyst Victor Anthony started Snap (SNAP) shares with a Hold rating and $22 price target. On its first day of trading, the stock is 51%, or $8.73, to $25.73. The analyst lists slow user growth and no growth in some regions as one of this concerns. He points out Twitter (TWTR) has the same issue. Anthony is also concerned by Facebook's (FB) "ease" in replicating parts of Snapchat's product across its ecosystem.
03/08/17
WBLR
03/08/17
NO CHANGE
WBLR
Social advertising exec sees Facebook spending rising, says William Blair
After meeting with two separate executives who head social media spending and video at a "large, digital-only agency," William Blair analyst Ralph Schackart said he came away with the impression that social and Facebook (FB) will grow again in 2017, noting that the head of social expects her clients' Facebook spending to grow around 35% this year and for their Twitter (TWTR) budgets to decline 20%-30%, with some of that due to a spending shift to Facebook. The analyst, who thinks Facebook shares have near-term upside potential to $160-$165 and still believes it can be a "$200-plus stock," keeps an Outperform rating on the name.
02/28/17
AGIS
02/28/17
INITIATION
Target $22
AGIS
Snap Inc. initiated with a $22 price target at Aegis
Aegis analyst Victor Anthony initiated coverage on Snap Inc. (SNAP) pre-IPO with a year-end $22 price target. Anthony is concerned about Snap's slow user growth and no growth in some regions, comparing it to Twitter's (TWTR) issues, the ease of which Facebook (FB) has replicated parts of Snap's products, Snap's lack of an ecosystem, inferior ad capabilities, an ad mix heavily weighted towards brand versus direct response, advertisers view Snap as experimental spend, lack of a defined path towards profitability, and zero investor control over corporate governance. However, the analyst's checks within the ad industry indicate marketers are "enthusiastic" about creating ads to get in front of Snap's demographic,its most valuable asset. Anthony believes Snap will be a sustained ad share gainer over the next two years, which should be enough to drive upside to the offering price range.
MCD McDonald's
$127.98

0.1 (0.08%)

03/02/17
FBCO
03/02/17
NO CHANGE
Target $137
FBCO
Outperform
McDonald's price target raised to $137 from $130 at Credit Suisse
Credit Suisse analyst Jason West raised his price target for McDonald's to $137 from $130 following the company's annual investor day. The analyst noted that updated long-term guidance came in generally better than expected. He reiterates an Outperform rating on the shares.
01/18/17
NOMU
01/18/17
NO CHANGE
Target $136
NOMU
Buy
McDonald's sales comp forecasts lowered at Nomura
Nomura analyst Mark Kalinowski lowered Q4 and Q1 US comp estimates for McDonald's following recent a recent franchisee survey. The analyst lowered hisQ4 US same-store sales forecast by 70bp, to -1.2%, versus consensus of down 1.4%, blaming an adverse December, mainly blaming the weather. In addition, he lowered Q1 US same-store sales forecasts by 240bp, to down 1.9%, versus consensus of down .6%. Based on these changes, and also currencies that continue to move against McDonald's, Kalinowski lowered his full-year 2016 and full-year 2017 earnings estimates by 2c 4c, respectively, to $5.71 and $6.19. Based on the lower base of anticipated earnings coming off of 2017, he also reduced our full-year 2018 earnings forecast by 4c, to $6.79. The analyst retains his Buy rating on McDonald's and lowered its price target to $136 from $137 and said he does not view winter weather as an especially worrisome issue from a 12-month outlook perspective.
02/27/17
NOMU
02/27/17
NO CHANGE
Target $136
NOMU
Buy
Nomura continues to recommend McDonald's
Nomura analyst Mark Kalinowski said McDonald's is hosing its biennial analyst meeting on March 1, earlier than the usual autumn meeting, as it wants to showcase some of the new menu products and platforms coming out. He expects the Signature Crafted semi-customization platform may be introduced nationwide in the U.S. during the middle of 2017 and expects to hear how McDonald's plans to win back traffic into its stores, particularly in the U.S. Kalinowski continues to encourage investors buy McDonald's ahead of what he expects to be a return to positive U.S. same-store-sales in Q2 and reiterates his Buy rating and $136 price target.
01/24/17
RHCO
01/24/17
NO CHANGE
RHCO
McDonald's 'turnaround' still 'intact,' says SunTrust
SunTrust analyst Jake Bartlett says that McDonald's lost market share in Q4, but he thinks that the fast food giant's "turnaround" remains "intact." He predicts that the company will gain market share in Q4 and over the longer term. Bartlett trimmed his price target on the stock to $137 from $140 but keeps a Buy rating on the shares.
MMM 3M
$190.31

-0.89 (-0.47%)

12/07/16
12/07/16
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. 3M (MMM) upgraded to Sector Perform from Underperform at RBC Capital with analyst Deane Dray citing her belief that President-elect Trump's policies will provide "a second wind" to the economic expansion and the recent downturn in the stock. 2. Discover (DFS) upgraded to Outperform from Neutral at Wedbush. 3. Patterson-UTI (PTEN) upgraded to Neutral from Underweight at JPMorgan with analyst Sean Meakim citing the company's frac exposure and improved balance sheet. 4. AutoZone (AZO) upgraded to Overweight from Neutral at JPMorgan with analyst Christopher Horvers citing improved fundamentals and expectations for comp acceleration amid easier comparisons. 5. Avery Dennison (AVY) upgraded to Neutral from Underperform at BofA/Merrill with analyst George Staphos citing relative valuation and macro factors and said Avery is positive correlated to the U.S. 10-year yield. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/13/16
JPMS
12/13/16
NO CHANGE
JPMS
Neutral
3M outlook for FY17 'a bit better' than expected at JPMorgan
JPMorgan analyst C. Stephen Tusa Jr. noted that 3M management maintained their FY16 EPS estimate of $8.15-8.20, but now see Q4 results coming in at the low end of that view. The company also gave FY17 EPS guidance of $8.45-$8.80, which compares to his estimate of $8.50 and the consensus forecast of $8.66, he noted. With sentiment "mostly negative" ahead of the event, the analyst said he expects a "modestly positive" reaction to the guidance and kept a Neutral rating on 3M shares.
02/06/17
BARD
02/06/17
NO CHANGE
BARD
Align Technology could see competitive clear aligner launches ramp, says Baird
Baird said additional details regarding 3M's (MMM) new clear aligner system were posted to the FDA website today, as was a new approval for Dentsply Sirona's (XRAY) MTM clear aligner system. The firm expects 3M's Clear Tray Aligner to be a "full" system, while checks indicate Dentsply's approval modestly expands MTM's overall capabilities. The firm's analyst remains confident in Align Technology's (ALGN) ability to deliver mid-teens+ revenue growth but evidence is growth in that competitive clear aligner launches may ramp later this year.
12/19/16
ROTH
12/19/16
NO CHANGE
Target $9
ROTH
Buy
Roth Capital remains bullish on Mitek Systems
Roth Capital analyst Darren Aftahi remains "quite bullish" on Mitek Systems (MITK), and believes its Mobile ID business should continue to flourish. The analyst sees Gemalto's (GTOMY) recent acquisition of 3M's (MMM) identity management business as not being a competitive threat to Mitek Systems' consumer-facing mobile business, as most of 3M's business was focused around hardware, chip-sets and centered on government-facing entities. He reiterates a Buy rating and $9 price target on Mitek Systems' shares.
JCI Johnson Controls
$41.77

-0.16 (-0.38%)

03/13/17
GSCO
03/13/17
DOWNGRADE
Target $44
GSCO
Neutral
Johnson Controls downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Joseph Ritchie downgraded Johnson Controls to Neutral and lowered his price target for the shares to $44 from $48. The company's guidance is weighted to the second half of 2017, making the stock a show me story for the rest of its fiscal year, Ritchie contends.
03/13/17
OPCO
03/13/17
NO CHANGE
Target $34
OPCO
Outperform
Aqua Metals price target raised to $34 from $16 at Oppenheimer
Oppenheimer analyst Colin Rusch raised his price target for Aqua Metals (AQMS) to $34 from $16 after the company's recent filings and in light of its strategic agreement with Johnson Controls (JCI). The analyst continues to believe this agreement is transformative for Aqua Metals as it provides the company with stable, clearly priced demand for five years, and provides a key licensee for its technology and a partner for using the value-added product of its AquaRefining process. He reiterates an Outperform rating on Aqua Metals' shares.
03/06/17
JPMS
03/06/17
INITIATION
Target $44
JPMS
Neutral
Johnson Controls initiated with a Neutral at JPMorgan
JPMorgan analyst C. Stephen Tusa started Johnson Controls with a Neutral rating and $44 price target. The analyst sees a balanced risk/reward profile at current share levels.
03/06/17
03/06/17
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. Snap (SNAP) initiated with an Underperform at Needham. 2. Johnson Controls (JCI) initiated with a Neutral at JPMorgan. 3. Regency Centers (REG) reinstated with an Equal Weight at Barclays. 4. Limbach Holding (LMB) initiated with a Buy at Roth Capital. 5. Enbridge (ENB) coverage resumed with an Outperform 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.
GPRO GoPro
$8.51

1.16 (15.78%)

03/16/17
SBSH
03/16/17
UPGRADE
Target $9
SBSH
Neutral
GoPro upgraded to Neutral from Sell at Citi
Citi analyst Stanley Kovler upgraded GoPro to Neutral saying the recent stabilization in revenue as well as the company's "significant" restructuring initiatives accelerate its path to profitability to 2017 from 2019. These developments should, at the very least, stave off the bear scenario for a few quarters, Kovler tells investors in a research note. He raised his price target for GoPro shares to $9 from $8. The stock in pre-market trading is up 70c, or 70%, to $8.05
03/16/17
STFL
03/16/17
NO CHANGE
STFL
GoPro reported 'solid' results, says Stifel
Stifel analyst Jim Duffy believes that GoPro reported "solid" Q1 results, and the analyst is "encouraged" by its spending discipline. However, he is concerned that its cost cutting could hurt its fundamentals. The analyst keeps a $9 price target and a Hold rating on the stock.
03/16/17
JPMS
03/16/17
NO CHANGE
Target $12
JPMS
Overweight
GoPro can return to profitability, growth in 2017, says JPMorgan
After last night's "positive" preannouncement and earlier than expected restructuring, JPMorgan analyst Paul Coster says that with solid execution, GoPro can return to full-year profitability and growth in 2017. He believes the stock looks undervalued and keeps an Overweight rating on the name with a $12 price target.
WSM Williams-Sonoma
$49.25

1.13 (2.35%)

03/16/17
03/16/17
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. Biogen (BIIB) was downgraded to Equal Weight from Overweight at Morgan Stanley and Market Perform from Outperform at Leerink. 2. United Continental (UAL) downgraded to In Line from Outperform at Evercore ISI. 3. Tyson Foods (TSN) downgraded to Hold from Buy at Argus with analyst John Staszak citing the SEC probe of Tyson and other poultry producers, potential decelerating earnings in coming quarters, and a recent bird flu outbreak in two states. 4. Williams-Sonoma (WSM) downgraded to Market Perform from Outperform at William Blair with analyst Daniel Hofkin citing the company's fourth quarter results. 5. Inovio (INO) downgraded to Neutral from Overweight at Piper Jaffray with analyst Charles Duncan saying a "lack of focus and advancement for any one program" poses execution risk to the broader platform, and to shareholders. The analyst lowered his price target for the shares to $9 from $13 following the company's Q4 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/16/17
WBLR
03/16/17
DOWNGRADE
WBLR
Market Perform
Williams-Sonoma downgraded to Market Perform from Outperform at William Blair
William Blair analyst Daniel Hofkin downgraded Williams-Sonoma to Market Perform following the company's Q4 results.
03/13/17
FBCO
03/13/17
NO CHANGE
Target $44
FBCO
Neutral
Williams-Sonoma price target lowered to $44 from $50 at Credit Suisse
Credit Suisse analyst Seth Sigman lowered his price target for Williams-Sonoma to $44 from $50 ahead of Q4 results. Over the next year, the analyst believes that the combination of sluggish comps, incremental gross margin pressures from shipping and discounting, and higher investments will pressure EPS more than expected. He reiterates a Neutral rating on the shares.
02/13/17
02/13/17
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. Boeing (BA) downgraded to Underperform from Neutral at Buckingham with the firm saying at current levels, shares are priced for perfection and reflect optimistic free-cash-flow estimates. The firm's analyst expects Boeing shares to underperform on downward estimate revisions, a series of negative catalysts, and multiple compression. 2. Reynolds American (RAI) downgraded to Sector Perform from Outperform at RBC Capital. 3. Occidental Petroleum (OXY) downgraded to Neutral from Buy at Mizuho with analyst Timothy Rezvan citing valuation, muted dividend growth, and increasing unit expense trends. 4. AK Steel (AKS) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Evan Kurtz saying he is concerned about AK's exposure to electrical steel and heavy auto steel, which could prove to be headwinds this year. 5. Williams-Sonoma (WSM) downgraded to Market Perform from Outperform at Telsey Advisory with analyst Cristina Fernandez saying the company is fighting a more competitive environment and softer consumer spending by aggressively increasing promotions to maintain share. The analyst is surprised by the high level of promotions at West Elm and said some real estate contacts have noted softening store sales in December. Fernandez said the turnaround at Pottery Barn could take longer and sees limited margin expansion in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GES Guess
$10.85

-1.38 (-11.28%)

08/25/16
08/25/16
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. Netflix (NFLX) upgraded to Outperform from Market Perform at William Blair with analysts led by Ralph Schackart citing its belief the long term risk/reward is favorable. 2. L-3 Communications (LLL) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying L-3's turnaround is already underway but sees further free-cash-flow growth and further valuation upside. 3. Guess (GES) upgraded to Buy from Neutral with analyst Jeff Van Sinderen saying he believes the "end game" for Guess will be a sale of the company. 4. Transocean (RIG) upgraded to Neutral from Sell at Citi with analyst Scott Gruber saying the company has exceeded cost reductions while the backlog remains superior to peers. 5. Primoris (PRIM) upgraded to Buy from Neutral at Seaport Global with analyst Ryan Cassil saying there are fairly low expectations assumed in management's guidance of 90c-$1.10 and the possibility of project starts ahead of management's internal forecast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/25/16
PIPR
08/25/16
NO CHANGE
PIPR
Underweight
Piper stays Underweight on Guess after 'other income' drives earnings beat
Piper Jaffray analyst Erinn Murphy reiterates her Underweight rating on Guess despite its better than expected second quarter report, noting that much of its earnings beat came from "other income." While acknowledging the shares will likely rise following the "less worse" than feared results and guidance, Murphy says she is still concerned by the execution risk of adding 55 new stores in Europe and 65 new stores in Asia, the company's heightened inventory compared to its sales and the fact that she thinks management's guidance still seems aggressive. Murphy keeps a $12 price target on Guess shares.
03/10/17
RILY
03/10/17
DOWNGRADE
Target $13.5
RILY
Neutral
Guess downgraded to Neutral from Buy at B. Riley
B. Riley analyst Jeff Van Sinderen downgraded Guess to Neutral citing the slow start to Q1 in the fashion apparel and footwear industry. The analyst lowered his price target for the shares to $13.50 from $17.
03/09/17
MZHO
03/09/17
DOWNGRADE
MZHO
Underperform
Guess downgraded to Underperform from Neutral at Mizuho
Mizuho analyst Betty Chen downgraded Guess to Underperform and lowered its price target to $10 from $14. The analyst expects weakness in Americas retail and wholesale to overshadow ongoing momentum in Europe and green shoots in retail. Chen also questions the strategy to rejuvenate the Americas segment and the multi-year retail store rollout strategy in Asia and Europe.
BIIB Biogen
$278.96

-13.68 (-4.67%)

03/16/17
MSCO
03/16/17
DOWNGRADE
Target $305
MSCO
Equal Weight
Biogen downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison downgraded Biogen to Equal Weight and lowered his price target for the shares to $305 from $369.
03/16/17
03/16/17
DOWNGRADE
Target $300

Market Perform
Biogen downgraded to Market Perform at Leerink
As previously reported, Leerink analyst Geoffrey Porges downgraded Biogen to Market Perform from Outperform based on a slower than expected ramp for Spinraza, and the completion of the series of important catalysts that have evolved over the last few months. The analyst is not particularly positive about the other programs in Biogen's late stage pipeline such as BIIB074, BIIB059, STX100 and opicinumab. Porges also lowered his price target on the shares to $300 from $305.
03/16/17
03/16/17
DOWNGRADE

Equal Weight
Biogen cut to Equal Weight as Alzheimer's data awaited at Morgan Stanley
As previously reported, Morgan Stanley analyst Matthew Harrison downgraded Biogen to Equal Weight from Overweight and lowered his price target for the shares to $305 from $369, saying that he sees limited upside for the stock in the near-term. The analyst said his rating change was "not a downside call, but a timing call" as he continues to have a positive view of Alzheimer's candidate aducanumab, though its data is not due until the second half of 2019. In arriving at his $305 price target, Harrison attributes $235 for the base business and $70 per share for aducanumab.

TODAY'S FREE FLY STORIES

HSY

Hershey

$107.44

0.34 (0.32%)

19:16
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Hershey Company to acquire 1.5M common shares from Hershey Trust »

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MS&AD Insurance

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MS&AD Insurance to acquire First Capital Insurance in $1.6B deal »

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AMGN

Amgen

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GE

General Electric

$24.39

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ABB

$23.13

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GE resumes talks with ABB over industrial solutions deal, Reuters reports »

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LZB

La-Z-Boy

$24.95

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Amazon.com

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La-Z-Boy in talks with Amazon over youth shopper outreach, MarketWatch reports »

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La-Z-Boy

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Amazon.com

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VLKAY

Volkswagen

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0.19 (0.62%)

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VW to launch two-tone compact SUV, Bloomberg says »

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F

Ford

$10.71

0.06 (0.56%)

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Ford names Jason Luo as chairman, CEO of Ford China »

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BA

Boeing

$238.09

-1.66 (-0.69%)

, LMT

Lockheed Martin

$302.84

-1.96 (-0.64%)

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Boeing 'disappointed' company not chosen for cruise missile deal, Bloomberg says »

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Boeing

$238.09

-1.66 (-0.69%)

LMT

Lockheed Martin

$302.84

-1.96 (-0.64%)

RTN

Raytheon

$178.19

-1.03 (-0.57%)

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HBM

Hudbay Minerals

$8.50

0.2 (2.41%)

17:44
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Hudbay Minerals acquires 10.76M common shares of Mason Resources »

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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

17:32
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Breaking Hot Stocks news story on HP Inc. »

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GES

Guess

$12.48

0.11 (0.89%)

, TLYS

Tilly's

$9.60

0.88 (10.09%)

17:29
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On The Fly: After Hours Movers »

UP AFTER EARNINGS: Guess…

GES

Guess

$12.48

0.11 (0.89%)

TLYS

Tilly's

$9.60

0.88 (10.09%)

WSM

Williams-Sonoma

$43.40

0.55 (1.28%)

PVH

PVH Corp.

$120.04

-0.28 (-0.23%)

YUME

YuMe

$5.15

0.09 (1.78%)

HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

HEI

Heico

$81.11

-0.95 (-1.16%)

GBT

Global Blood Therapeutics

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MATX

Matson

$24.02

0.24 (1.01%)

17:28
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Matson upgrading its Honolulu terminal »

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TCMD

Tactile Systems

$33.90

0.78 (2.36%)

17:24
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Syndicate
Breaking Syndicate news story on Tactile Systems »

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TCMD

Tactile Systems

$33.90

0.78 (2.36%)

17:23
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Breaking Syndicate news story on Tactile Systems »

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CIVI

Civitas Solutions

$18.30

-0.1 (-0.54%)

17:21
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17:21
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Civitas Solutions analyst commentary  »

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LLL

L3 Technologies

$179.28

-1.39 (-0.77%)

17:20
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17:20
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L3 Technologies awarded $172.9M government contract modification »

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BA

Boeing

$238.08

-1.67 (-0.70%)

17:19
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17:19
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Boeing awarded $222.5M government contract modification »

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RTN

Raytheon

$178.19

-1.03 (-0.57%)

17:18
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17:18
Hot Stocks
Raytheon awarded approximately $900M government contract »

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LMT

Lockheed Martin

$302.84

-1.96 (-0.64%)

17:17
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17:17
Hot Stocks
Lockheed Martin awarded approximately $900M government contract »

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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

, SSNLF

Samsung

$2,020.00

-10 (-0.49%)

17:11
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17:11
Hot Stocks
HP Inc. sees Samsung deal closing in Q4 »

HP Inc. (HPQ) said it saw…

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HP Inc.

$18.86

-0.16 (-0.84%)

SSNLF

Samsung

$2,020.00

-10 (-0.49%)

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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

17:09
08/23/17
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17:09
Hot Stocks
HP Inc.: Company outgrew PC market unit growth in Q2 »

Says investing in…

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TDG

TransDigm

$271.82

-3.52 (-1.28%)

17:08
08/23/17
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17:08
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TransDigm declares special dividend of $22.00 per share »

TransDigm has authorized…

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ROG

Rogers Corporation

$115.31

-0.67 (-0.58%)

17:01
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17:01
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Rogers Corporation director sells 3,500 common shares »

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GES

Guess

$12.48

0.11 (0.89%)

16:59
08/23/17
08/23
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16:59
Hot Stocks
Breaking Hot Stocks news story on Guess »

Guess up 10% to $13.70…

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  • 23

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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

16:56
08/23/17
08/23
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16:56
Hot Stocks
HP Inc. raises FY17 free cash flow view to at least $3B from $2.3B-$2.6B »

Guidance taken from…

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