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VRX

Valeant

$11.03

-0.17 (-1.52%)

, YHOO

Tag AABA

$46.59

-0.02 (-0.04%)

16:32
03/17/17
03/17
16:32
03/17/17
16:32

On The Fly: Stocks end week higher as Fed raises benchmark interest rate

Stocks ended the week higher after the Federal Reserve's announcement of an interest rate raise and the release of the new administration's preliminary 2018 budget proposal, which includes a $54M increase in defense spending with corresponding cuts in many other areas of the federal government. MACRO NEWS: The Federal Reserve increased its benchmark interest rate a quarter point given increased confidence that the economy is poised for more robust growth. This is the second raise in the last three months. However, the central bank maintained its view that this will be the first of three hikes this year, which put at ease some fears that the Fed may get more aggressive in its tightening plans. In other central bank news, the Bank of England's Monetary Policy Committee voted by a majority of 8-1 to maintain its Bank Rate at 0.25% and kept its asset buying program unchanged... In the U.S., the Producer Price Index rose 0.3% in February, with the core rate up 0.3% as well. The Consumer Price Index edged up 0.1% in February with the core up 0.2%. The Empire State manufacturing index fell 2.3 points to 16.4 in March. February retail sales rose 0.1%, with the ex-auto component up 0.2%. Business inventories rose 0.3% in January, with sales up 0.2%. The NAHB homebuilder sentiment index surged 6 points to 71 in March. Jobless claims fell 2,000 to 241,000 in the week ended March 11. Housing starts rebounded 3.0% to a 1.29M rate in February. The Philly Fed manufacturing index for March fell 10.5 points to 32.8. The JOLTS report showed job openings rose 87,000 to 5.6M in January. Industrial production was flat in February. Consumer sentiment rose 1.3 points to 97.6 in the March preliminary print from the University of Michigan survey... In Asia, China's industrial production climbed 6.3% in the January to February period from a year ago, while retail sales increased 9.5%... In Europe, Eurozone industrial production rose 0.6% year-on-year. COMPANY NEWS: Bill Ackman's Pershing Square announced that it exited its investment in Valeant Pharmaceuticals (VRX), selling over 27M shares at a significant loss. On Friday, Jeffrey Ubben's ValueAct disclosed its purchase of 3M shares in Valeant, giving it a 5.2% stake in the debt-laden drugmaker... In M&A news, Intel (INTC) announced a definitive agreement to acquire Mobileye (MBLY) for $63.54 per share in cash, representing an equity value of approximately $15.3B and an enterprise value of $14.7B. Euronet Worldwide (EEFT) announced that it made a proposal to acquire all shares outstanding of MoneyGram (MGI) for $15.20 in cash. This comes less than two months after MoneyGram agreed to merge with Alibaba's (BABA) affiliate Ant Financial. Under the January agreement, Ant Financial would acquire MoneyGram for $13.25 per share in cash. Air Methods (AIRM) announced it has entered into a definitive agreement to be acquired by affiliates of American Securities for $43 per share in cash. 3M (MMM) announced it is acquiring Scott Safety from Johnson Controls (JCI) for a total enterprise value of $2B... Yahoo (YHOO) said board member Thomas McInerney will serve as its CEO when the Verizon (VZ) deal closes, while Alexi Wellman will take on the chief financial officer role. Current Yahoo CEO Marissa Mayer will remain in her role until the deal's closing, upon which the company will be change its name to "Altaba." Later in the week, the Department of Justice indicted four people, one in Canada and three in Russia, in connection with the 2013 Yahoo data breach that led to Verizon asking for a price reduction for its planned deal to purchase its operating business... General Motors (GM) announced it will add or retain approximately 900 jobs across three Michigan facilities during the next 12 months. The 900 jobs are in addition to the 7,000 jobs and $1B in U.S. investments the company announced earlier this year. Meanwhile, President Donald Trump met with automakers' CEOs in Detroit, after which the Environmental Protection Agency confirmed that it will revisit the previous administration's rule that finalized standards to increase fuel economy to the equivalent of 54.5 mpg for cars and light-duty trucks by Model Year 2025. Other publicly traded automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY)... Tesla (TSLA) 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... Twitter (TWTR) made headlines on Thursday after McDonald's (MCD) said its account had been compromised after its corporate account sent out a tweet insulting President Donald Trump. A day earlier, media reports said that hundreds of accounts of the social media network had also been hacked, and were branded with the Turkish flag and messages sent out in the Turkish language... GoPro (GPRO) announced 270 job cuts and pre-announced that its first quarter earnings would be at the high end of guidance... Among companies that announced quarterly results this week, DSW (DSW), Arena Pharmaceuticals (ARNA), NeoPhotonics (NPTN), Oracle (ORCL), Williams-Sonoma (WSM), and Vivint Solar (VSLR) advanced following their reports, while Tilly's (TLYS), Rubicon Project (RUBI), Achaogen (AKAO), Guess (GES), Adobe Systems (ADBE), Tiffany (TIF), and Caleres (CAL) declined. INDEXES: For the week, the Dow rose 0.05% to 20,914.62, the Nasdaq advanced 0.65% to 5,901.00, and the S&P 500 gained 0.22% to 2,378.25.

VRX

Valeant

$11.03

-0.17 (-1.52%)

YHOO

Tag AABA

$46.59

-0.02 (-0.04%)

VZ

Verizon

$50.39

0.35 (0.70%)

INTC

Intel

$35.28

0.135 (0.38%)

MBLY

Mobileye

$60.51

-0.23 (-0.38%)

GM

General Motors

$36.33

-0.75 (-2.02%)

DDAIF

Daimler AG

$76.48

-0.36 (-0.47%)

FCAU

Fiat Chrysler

$11.47

-0.11 (-0.95%)

F

Ford

$12.48

-0.22 (-1.73%)

HMC

Honda

$31.04

-0.15 (-0.48%)

NSANY

Nissan

$19.98

0.055 (0.28%)

TM

Toyota

$112.21

-1.03 (-0.91%)

VLKAY

Volkswagen

$30.30

-0.595 (-1.93%)

TSLA

Tesla

$261.50

-0.55 (-0.21%)

TWTR

Twitter

$15.08

-0.11 (-0.72%)

MCD

McDonald's

$128.64

0.66 (0.52%)

GPRO

GoPro

$8.57

0.06 (0.71%)

EEFT

Euronet

$83.49

-0.07 (-0.08%)

BABA

Alibaba

$105.61

-0.02 (-0.02%)

AIRM

Now private 4/17

$42.98

-0.025 (-0.06%)

MMM

3M

$192.36

2.05 (1.08%)

JCI

Johnson Controls

$41.97

0.2 (0.48%)

DSW

DSW

$20.40

-0.22 (-1.07%)

ARNA

Arena Pharmaceuticals

$1.55

-0.02 (-1.27%)

NPTN

NeoPhotonics

$9.17

-0.09 (-0.97%)

ORCL

Oracle

$45.66

-0.07 (-0.15%)

WSM

Williams-Sonoma

$49.60

0.35 (0.71%)

VSLR

Vivint Solar

TLYS

Tilly's

$9.05

0.06 (0.67%)

RUBI

Rubicon Project

$5.80

0.04 (0.69%)

AKAO

Achaogen

$22.39

-0.68 (-2.95%)

GES

Guess

$11.30

0.45 (4.15%)

ADBE

Adobe

$127.01

4.66 (3.81%)

TIF

Tiffany

$92.42

2.44 (2.71%)

CAL

Caleres

$27.95

-3.7 (-11.69%)

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VRX Valeant
$11.03

-0.17 (-1.52%)

03/14/17
STFL
03/14/17
NO CHANGE
STFL
Valeant Pershing move to hurt sentiment but restructuring positive, says Stifel
After Valeant's top shareholder, Pershing Square, announced the offering of its 27.2M share stake in the company, Stifel analyst Annabel Samimy says that the transaction will hurt sentiment towards Valeant. However, the analyst continues to believe that the company's recent restructuring was an important, step that produced meaningful benefits for the company, and she says that it "remains committed to its $5B debt repayment target by early 2018." She keeps a Buy rating on the stock.
03/14/17
BMOC
03/14/17
NO CHANGE
Target $15
BMOC
Market Perform
Pershing exit sends 'poor signal' for Valeant future, says BMO Capital
BMO Capital analyst Gary Nachman believes the sale of Pershing Square's stake "sends a poor signal regarding the road ahead" for Valeant Pharmaceuticals. The analyst is surprised that Pershing decided to sell its entire investment. The timing is noteworthy since new management is just beginning to implement a number of its strategic initiatives, Nachman tells investors in a research note. The analyst cut his price target for Valeant shares to $15 from $19 and keeps a Market Perform rating on the name.
03/15/17
ADAM
03/15/17
NO CHANGE
Target $12
ADAM
Hold
Valeant price target lowered to $12 from $17 at Canaccord
Canaccord analyst Neil Maruoka lowered his price target on Valeant to $12 from $17 following the sale of Pershing Square's 27.2M share stake. The analyst stills sees the divesting of major assets as a challenge and the sale by Pershing as underscoring his concerns about the company's lower growth. Maruoka maintained his Hold rating on Valeant shares.
03/17/17
WELS
03/17/17
NO CHANGE
WELS
Underperform
Wells Fargo finds 'new significant negative' for Valeant
Wells Fargo analyst David Maris says the FDA's new guidance posted today on what is needed for generic Xifaxan is a "game changing development that makes it much easier for generics to show bioequivalence." The likelihood of Xifaxan generics entering the market in 2023 or earlier just "increased dramatically," Maris tells investors in a research note. He views today's guidance as a "new significant negative" for Valeant Pharmaceuticals. The stock is down 3c to $11.17 in late morning trading. Maris has an Underperform rating on Valeant with a $10-$13 price target range.
YHOO Tag AABA
$46.59

-0.02 (-0.04%)

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.
01/24/17
OPCO
01/24/17
NO CHANGE
Target $52
OPCO
Outperform
Yahoo sale will be completed despite hacking disclosure, says Oppenheimer
Following Q4 results, Oppenheimer analyst Jason Helfstein notes that Yahoo (YHOO) pushed back the closing of the core sale to Verizon (VZ) from Q1 to Q2, citing "work required to meet closing conditions." The analyst believes that the sale will be completed regardless of Yahoo's most recent hacking disclosure, as it provided engagement data showing minimal impact and since Verizon needs its content scale to create a profitable ad tech stack, if they are going to build a competitive "third stack" to help publishers compete with Facebook (FB) and Google (GOOG; GOOGL). He reiterated an Outperform on Yahoo's stock but lowered his price target on the shares to $52 from $54 to reflect movements in the share prices of Alibaba (BABA) and Yahoo Japan.
01/24/17
RBCM
01/24/17
NO CHANGE
RBCM
Yahoo results increase probability of deal closing, says RBC Capital
RBC Capital analyst Mark Mahaney says that Yahoo's (YHOO) "improved" Q4 results increase the chances that Verizon (VZ) will close on its acquisition of the Internet conglomerate. However, Mahaney keeps a Sector Perform 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.
VZ Verizon
$50.39

0.35 (0.70%)

02/21/17
MOFT
02/21/17
UPGRADE
Target $54
MOFT
Buy
Verizon upgraded to Buy from Neutral at MoffettNathanson
MoffettNathanson analyst Craig Moffett upgraded Verizon(VZ) to Buy and raised its price target to $54 from $53 saying its 2017 earnings trajectory is better than AT&T's (T) and most, if not all, of the bad news is reflected in valuation.
02/22/17
SBSH
02/22/17
NO CHANGE
SBSH
Citi says Comcast could rally 20% with acquisition of Verizon
Citi analyst Michael Rollins believes 2017 will be the year of mergers and acquisitions in the Wireless space. The analyst sees "many motivations" for deals, including capacity shortages, subscale economics and thwarting 5G incursions. Rollins sees four combinations as the most likely: Verizon (VZ) for DISH (DISH), Sprint (S) for T-Mobile (TMUS), Charter (CHTR) for T-Mobile, and Comcast (CMCSA) for Verizon. If buying DISH, the analyst sees Verizon shares rallying 14%. If buying T-Mobile, the analyst sees Sprint shares rallying 5%. If buying T-Mobile, the analyst sees Carter shares rising by 4%. If buying Verizon, the analyst sees Comcast shares rising by 20%.
02/21/17
02/21/17
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. Verizon (VZ) upgraded to Buy from Neutral at MoffettNathanson by analyst Craig Moffett, who said its 2017 earnings trajectory is better than AT&T's (T) and most, if not all, of the bad news is reflected in valuation. 2. Community Health (CYH) upgraded to Neutral from Underperform at Mizuho by analyst Dr. Sheryl Skolnick, who believes Community Health may have given itself some breathing room ahead of its looming 2018/19 maturity wall and taken some credit induced pressure off the stock with its inline Q4 EBITDA report and reasonable 2017 guidance. 3. Meritor (MTOR) upgraded to Overweight from Sector Weight at KeyBanc by analyst Brett Hoselton, who said higher North America Class 8 production and net new business will likely drive revenue growth ahead of consensus expectations. 4. Viper Energy (VNOM) upgraded to Strong Buy from Market Perform at Raymond James by analyst John Freeman, who has increased confidence Viper can outperform significantly following additional clarity into the company's drilling inventory and views Viper as a potential candidate to be added to the Alerian MLP index later this year. 5. Laredo Petroleum (LPI) upgraded to Overweight from Neutral at Piper Jaffrayby analyst Kashy Harrison, citing valuation and the company's improved balance sheet. The analyst sees upside to 2018 consensus production estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, URL
02/23/17
FBRC
02/23/17
NO CHANGE
Target $44
FBRC
Underperform
DISH buildout plan suggests lack of takeover interest, says FBR Capital
FBR Capital analyst David Dixon believes DISH's (DISH) network build plans suggest a lack of interest from potential buyers. The lack of a takeover suitor is the main driver behind DISH's decision to swap assets with EchoStar (SATS), Dixon tells investors in a post-earnings research note. He notes that to DISH bulls, Verizon (VZ) is the most logical buyer. The analyst, however, sees Verizon leaning towards a cable or content deal over time. Verizon's larger strategic threat is cable, not lack of spectrum, Dixon argues. He also believes a Sprint (S) and T-Mobile (TMUS) would remove a potential buyer for DISH spectrum. The analyst keeps an Underperform rating on DISH shares with a $44 price target.
INTC Intel
$35.28

0.135 (0.38%)

03/14/17
GSCO
03/14/17
DOWNGRADE
GSCO
Neutral
Mobileye downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Alexander Duval downgraded Mobileye (MBLY) to Neutral following the takeover by Intel (INTC).
03/15/17
LEHM
03/15/17
DOWNGRADE
Target $63
LEHM
Equal Weight
Mobileye downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Brian Johnson downgraded Mobileye (MBLY) to Equal Weight on expectations the Intel (INTC) deal will go through. The analyst views Delphi (DLPH) as a key beneficiary and upped his price target for the shares to $95.
03/15/17
FBCO
03/15/17
DOWNGRADE
Target $35
FBCO
Neutral
Intel downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst John Pitzer downgraded Intel to Neutral and lowered his price target for the shares to $35 from $45. Intel is a better company than a stock, Pitzer tells investors in a research note.
03/14/17
NEED
03/14/17
DOWNGRADE
NEED
Hold
Mobileye downgraded to Hold from Buy at Needham
Needham analyst Rajvindra Gill downgraded Mobileye (MBLY) to Hold from Buy after Intel (INTC) announced its intention to acquire all of the former's outstanding ordinary shares for $63.54 per share. The analyst believes the deal clearly validates the ADAS and fully autonomous vehicle market, and views it as a positive read-through into the entire ADAS and automotive supply chain, namely ON Semiconductor (ON), Micron (MU), Cypress Semiconductor (CY), NXP Semiconductors (NXPI), NVIDIA (NVDA), Tower Semiconductor (TSEM), and Infineon (IFNNY).
MBLY Mobileye
$60.51

-0.23 (-0.38%)

03/14/17
ROTH
03/14/17
NO CHANGE
Target $43
ROTH
Buy
Intel acquisition of Mobileye strengthens automotive push, says Roth Capital
Roth Capital analyst Suji Desilva continues to be encouraged by Intel's (INTC) transition to growth areas such as cloud data center, networking and Internet of Things, and is also encouraged by the stable margin profile. The analyst regards the acquisition of Mobileye (MBLY) as a supportive of this transition with addition of key autonomous driving assets. He reiterates a Buy rating and $43 price target on Intel's shares.
GM General Motors
$36.33

-0.75 (-2.02%)

02/10/17
JEFF
02/10/17
NO CHANGE
Target $36
JEFF
Hold
Jefferies switches preference to Ford from General Motors
Jefferies analyst Philippe Houchois switched his preference to Ford Motor (F) shares from General Motors (GM) after upgrading the former to Hold. The analyst keeps a Hold rating on GM with a $36 price target. Matching last years' $6B-plus adjusted free cash "is looking challenging," Houchois tells investors in a research note.
02/15/17
JPMS
02/15/17
NO CHANGE
Target $46
JPMS
Overweight
GM European operations sale would be 'material positive,' says JPMorgan
JPMorgan analyst Ryan Brinkman believes the sale of General Motors' (GM) European operations to Peugeot (PUGOY) would be a "material positive" for shareholders. Both companies yesterday confirmed deal talks are ongoing. The potential sale would highlight GM's focus on capital returns and would help the automaker accomplish its end-of-decade margin targets as well as "substantially" improve financial returns and free cash flow, Brinkman tells investors in a research note. He reiterates an Overweight rating on GM with a $46 price target.
03/06/17
NOMU
03/06/17
UPGRADE
NOMU
Buy
General Motors upgraded to Buy from Neutral at Nomura
03/07/17
JPMS
03/07/17
NO CHANGE
Target $49
JPMS
Overweight
JPMorgan ups GM target to $49 after European unit sale
The sale of its European Opel/Vauxhall business will "substantially" enhance General Motors' margin, returns and free cash flow, JPMorgan analyst Ryan Brinkman tells investors in a research note. The deal "represents a significant coup" for GM shareholders, even though the terms were somewhat less than expectations, the analyst contends. He raised his price target for GM shares to $49 from $46 and keeps an Overweight rating on the name.
DDAIF Daimler AG
$76.48

-0.36 (-0.47%)

11/22/16
BREN
11/22/16
INITIATION
BREN
Sell
Daimler AG reinitiated with a Sell at Berenberg
Price target EUR 53.
02/08/17
SBSH
02/08/17
DOWNGRADE
SBSH
Neutral
Daimler AG downgraded to Neutral from Buy at Citi
Citi downgraded Daimler AG to Neutral and removed the shares from its Focus List Europe.
03/08/17
MSCO
03/08/17
NO CHANGE
Target $305
MSCO
Overweight
Morgan Stanley questions if Tesla might seek partner help to meet capital needs
Morgan Stanley Adam Jonas noted that Tesla (TSLA) has historically brought in strategic partners at important points in its history to participate in its capital formation - pointing to its prior deals with Daimler (DDAIF), Panasonic (PCRFY) and Toyota (TM) - and he wonders if Tesla, which is targeting higher spending for its launch of the Model 3, may now see another opportunity to explore getting help from new or existing partners to meet its capital needs. However, Jonas noted that he is "not aware of any possible initiatives in this respect." The analyst, who ascribes a valuation of $233 per share to the core automotive business, "zero valuation" for Energy generation and storage and sees upside from the value he ascribes to its Tesla Mobility segment, reiterates an Overweight rating and $305 price target on Tesla shares.
01/30/17
RBCM
01/30/17
NO CHANGE
RBCM
Auto executives say Trump policies to be a 'net positive,' says RBC Capital
RBC Capital analyst Joseph Spak says that auto executives, after speaking with Trump administration officials, predict that the administration's policies will be "net positive" for auto OEMs. Spak says that "pretty much" every company with whom he spoke says that the risk from the policies will be "manageable," The analyst adds that executives who met with administration officials expect " rationality on some of the extreme measures will prevail," while measures such as a reduced corporate tax and less regulation will provide "offsets." Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
FCAU Fiat Chrysler
$11.47

-0.11 (-0.95%)

02/03/17
02/03/17
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. Ford (F) was upgraded to Overweight from Equal Weight at Barclays, while Fiat Chrysler (FCAU) was upgraded to Equal Weight from Underweight. 2. Alcoa (AA) upgraded to Buy from Underperform at BofA/Merrill with analyst Timna Tanners upgrading Alcoa two notches to Buy from Underperform and saying she is more positive on structural demand for the global aluminum market as China seems more inclined to contain capacity and the WTO complaint filed by the US has helped send the Midwest premium up in recent weeks. The analyst raised its price target to $45 from $35. 3. Chipotle (CMG) upgraded to Hold from Sell at Maxim with analyst Stephen Anderson saying that even though its fourth quarter results were only in-line with downward revised expectations its two-year comps "improved considerably" in January, leading him to believe that the "worst may be over" for the troubled restaurant operator. The analyst, who believes "Chipotle 2.0" represents an opportunity for sales upside, raised his price target on the stock to $390 from $280. 4. Ball Corp (BLL) upgraded to Buy from Hold at Vertical Research with analyst Chip Dillon citing valuation. 5. Deckers Brands (DECK) upgraded to Neutral from Negative at Susquehanna with analyst Sam Poser saying the negative thesis is "played out" following last night's big miss. Poser is encouraged by Deckers' cost savings initiatives but said the real question is whether the company will take control of UGG distribution, inventory levels, and overall UGG brand. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/17
NTXS
02/06/17
UPGRADE
NTXS
Neutral
Fiat Chrysler upgraded to Neutral from Reduce at Natixis
02/03/17
LEHM
02/03/17
UPGRADE
Target $15
LEHM
Overweight
Ford upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Brian Johnson upgraded Ford Motor (F) to Overweight from Equal Weight and raised his price target for the shares to $15 from $13. The automaker closed yesterday down 3c to $12.28. Johnson this morning also upgraded Fiat Chrysler (FCAU) to Equal Weight and kept an Equal Weight rating on General Motors (GM). Any way you look at it, Ford looks better positioned than both GM and Fiat in a border adjustment scenario, Johnson tells investors in a research note. The analyst points out that Ford has a higher mix of its North American unit production in the U.S. relative to the other two carmakers. Should a boarder adjustment tax be levied by President Trump, the analyst estimates only $3.6B for Ford versus $10.4B for GM and $18B for Fiat. Even in a "chicken tax" scenario, or a 25% duty on cargo-carrying light trucks, Ford would be better positioned, Johnson contends.
02/03/17
LEHM
02/03/17
UPGRADE
LEHM
Equal Weight
Fiat Chrysler upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Brian Johnson upgraded Fiat Chrysler to Equal Weight saying an extended U.S. automotive cycle reduces the risk of any border adjustment scenario. The analyst raised his price target for the shares to EUR 10 from EUR 5.60.
F Ford
$12.48

-0.22 (-1.73%)

02/10/17
02/10/17
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. Ford (F) upgraded to Hold from Underperform at Jefferies with analyst Philippe Houchois upgraded Ford (F) Motor to Hold saying the company's "bad news" in the last six months has been sufficiently priced into the shares. While cyclical risks remain, Ford should benefit the most of the big three from infrastructure spending, border adjusted tax reform and exposure to a Russian auto recovery, Houchois tells investors in a research note. He raised his price target for the shares to $12 from $10. 2. CSX (CSX) upgraded to Outperform from Market Perform at Avondale. 3. Jack in the Box (JACK) upgraded to Buy from Hold at SunTrust with analyst Jake Bartlett saying he expects the company to benefit from fewer discounts in the sector and market share gains going forward. 4. Cigna (CI) upgraded to Outperform from Sector Perform at RBC Capital with analyst Frank Morgan saying the company is well positioned as a standalone entity. The analyst believes Cigna has "multiple positive levers" to drive earnings higher and sees a likelihood for "significant" capital deployment. Morgan raised his price target for the shares to $172 from $151. 5. Enerplus (ERF) upgraded to Outperform from Market Perform at BMO Capital with analyst Ray Kwan citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/26/17
GSCO
02/26/17
DOWNGRADE
Target $41
GSCO
Neutral
Allison Transmission downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Jerry Revich downgraded Allison Transmission (ALSN) to Neutral from Buy with an unchanged price target of $41. The manufacturer of fully-automatic transmissions for trucks closed Friday up 24c to $36.79. The stock, currently trading at an 8% free cash flow yield versus 13% in Sept. 2013, offers limited upside and a balanced risk/reward profile, Revich tells investors in a research note. He also believes that the range of competitive transmission options is rising. Ford (F) is gaining share with its automotive engine and transmission, Revich points out.
02/10/17
JEFF
02/10/17
UPGRADE
Target $12
JEFF
Hold
Ford upgraded to Hold from Underperform at Jefferies
Jefferies analyst Philippe Houchois upgraded Ford Motor to Hold saying the company's "bad news" in the last six months has been sufficiently priced into the shares. While cyclical risks remain, Ford should benefit the most of the big three from infrastructure spending, border adjusted tax reform and exposure to a Russian auto recovery, Houchois tells investors in a research note. He raised his price target for the shares to $12 from $10.
HMC Honda
$31.04

-0.15 (-0.48%)

12/01/16
MACQ
12/01/16
DOWNGRADE
MACQ
Neutral
Honda downgraded to Neutral from Outperform at Macquarie (pre-open)
02/03/17
MACQ
02/03/17
UPGRADE
MACQ
Outperform
Honda upgraded to Outperform from Neutral at Macquarie
12/06/16
UBSW
12/06/16
UPGRADE
UBSW
Neutral
Honda upgraded to Neutral from Sell at UBS
NSANY Nissan
$19.98

0.055 (0.28%)

10/05/16
UBSW
10/05/16
DOWNGRADE
UBSW
Neutral
Nissan downgraded to Neutral from Buy at UBS
08/16/16
JPMS
08/16/16
DOWNGRADE
JPMS
Neutral
Nissan downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Akira Kishimoto downgraded Nissan to Neutral on expectations model cycle deterioration in North America will have a large impact. The analyst also upgraded the Japan Auto sector to neutral from bearish.
TM Toyota
$112.21

-1.03 (-0.91%)

02/17/17
MACQ
02/17/17
UPGRADE
MACQ
Outperform
Toyota upgraded to Outperform from Neutral at Macquarie
12/15/16
12/15/16
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. Valeant (VRX) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying the thesis that management would stabilize the business and execute asset sales has been wrong. 2. General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital with analyst David Palmer saying he believes that accelerating U.S. volume declines which occurred over the last three months will limit the company's EPS growth. 3. Toyota (TM) downgraded to Neutral from Outperform at Macquarie. 4. Zimmer Biomet (ZBH) downgraded to Sell from Neutral at UBS with analyst Matt Miksic citing a survey of 139 U.S. orthopedic surgeons, which he said shows evidence of the share gain potential of Stryker's (SYK) MAKO in the U.S. total knee market. 5. Brinker (EAT) downgraded to Underperform from Market Perform at BMO Capital with analyst Andrew Strelzik citing valuation and the company's relatively weak margin outlook. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
VLKAY Volkswagen
$30.30

-0.595 (-1.93%)

02/13/17
JEFF
02/13/17
NO CHANGE
Target $52
JEFF
Buy
Jefferies says Mobileye agreement not unexpected, but important
Mobileye's (MBLY) agreement with Volkswagen (VLKAY) is not expected given the previously disclosed memorandum of understanding, but it is important nonetheless, Jefferies analyst David Kelley tells investors in a research note. The deal substantiates Mobileye's "strong" early positioning" in the integral segment of the "rapidly developing" autonomous vehicle sector, the analyst contends. He keeps a Buy rating on the shares with a $52 price target.
02/13/17
WELS
02/13/17
NO CHANGE
WELS
Outperform
Mobileye could add to competitive advantage with VW deal, says Wells Fargo
Wells Fargo analyst Richard Kwas said that while Volkswagen (VLKAY) was expected to be announced as a customer of Mobileye's (MBLY) Road Experience Management system, the confirmation of an agreement, along with the timeline and language of the agreement, are positive. If the tie-up goes well, REM could set an industry standard and further build on Mobileye's competitive moat, Kwas tells investors. He keeps an Outperform rating on Mobileye shares, which are up 7.25% in afternoon trading.
02/13/17
RAJA
02/13/17
NO CHANGE
RAJA
Outperform
Mobileye deal with VW has longer-term value, says Raymond James
Raymond James analyst Tavis McCourt noted that Volkswagen's (VLKAY) partnership with Mobileye (MBLY) to use REM technology in its autonomous vehicles was announced back in early 2016, but only finalized today. While the pact has "no meaningful influence" near-term, it does have longer-term financial and strategic value for Mobileye, said McCourt, who keeps an Outperform rating on the shares.
TSLA Tesla
$261.50

-0.55 (-0.21%)

03/17/17
GSCO
03/17/17
NO CHANGE
Target $187
GSCO
Sell
Goldman ups Tesla target slightly to $187 after capital raise, keeps at Sell
Goldman Sachs analyst David Tamberrino edged up his price target on Tesla to $187 from $185 after the company's capital raise, which included a mix of convertible debt and stock and reflects less equity dilution than he'd previously forecast. This fundraising should leave Tesla with a high enough cash balance exiting the year, but Tamberrino forecasts another capital raise will be needed in 2018, he tells investors. Tamberrino, who downgraded Tesla to Sell on February 27, keeps that rating on the shares.
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.
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
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.
TWTR Twitter
$15.08

-0.11 (-0.72%)

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.
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.
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.
MCD McDonald's
$128.64

0.66 (0.52%)

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.
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.
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.
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.
GPRO GoPro
$8.57

0.06 (0.71%)

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.
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
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.
EEFT Euronet
$83.49

-0.07 (-0.08%)

01/26/17
RHCO
01/26/17
NO CHANGE
RHCO
Hold
Western Union could be pressured by MoneyGram acquistion, says SunTrust
After the Wall Street Journal reported, which has subsequently been confirmed, that Alibaba's (BABA) Ant Financial has agreed to acquire MoneyGram (MGI), SunTrust analyst Andrew Jeffrey said his first reaction is that the global remittance industry could become more competitive and more competitive pricing poses a greater relative risk to Western Union (WU) than to Euronet (EEFT), but he also thinks shares of each of the two could come under early pressure. Jeffrey keeps a Hold rating on Western Union shares, which are down over 2% in early trading.
03/14/17
BTIG
03/14/17
NO CHANGE
BTIG
BTIG says Western Union positive reaction to MoneyGram news makes sense
BTIG analyst Mark Palmer said he believes the uptick in Western Union (WU) shares after the announcement of Euronet's (EEFT) offer to buy competitor MoneyGram (MGI) makes some sense as Euronet may be seen as less of a competitive threat than Alibaba's (BABA) Ant Financial, which previously struck a deal to buy MoneyGram, and the bid underscores the attractiveness and potential of the global remittance space. However, speculation that if Ant was unsuccessful in its effort to acquire MoneyGram it could look to acquire VeriFone (PAY) or Green Dot (GDOT) "makes less sense," said Palmer.
03/14/17
RHCO
03/14/17
NO CHANGE
RHCO
Buy
SunTrust says buy Euronet on MoneyGram deal selloff
Euronet's (EEFT) $1.8B offer to acquire MoneyGram (MGI) is "superior in all ways" to Ant Financial's, which is owned by Alibaba (BABA), SunTrust analyst Andrew Jeffrey tells investors in a research note. He expects shares of Euronet to come under pressure this morning "as many investors simply do not like global remittance." Jeffrey recommends using the weakness to buy Euronet, however, as he feels the company has a differentiated franchise and superior management and growth strategy.
02/09/17
PIPR
02/09/17
NO CHANGE
Target $97
PIPR
Overweight
Euronet shares offer 'nice entry point,' says Piper Jaffray
Piper Jaffray analyst Jason Deleeuw says Euronet Worldwide (EEFT) shares at current levels undervalue the company's "attractive growth profile" and overstates economic risks around the Wal-Mart (WMT) money transfer contract renewal. The analyst views the economic renewal risk as manageable and reiterates an Overweight rating on the name with a $97 price target.
BABA Alibaba
$105.61

-0.02 (-0.02%)

03/08/17
COWN
03/08/17
NO CHANGE
Target $35
COWN
Underperform
TripAdvisor Chairman comments bad sign for fundamentals, says Cowen
Cowen analyst Kevin Kopelman says comments Monday night from TripAdvisor (TRIP) Chairman Greg Maffei regarding takeover potential is a bad sign for fundamentals. Maffei noted that another owner of the TripAdvisor business could see more value in its 375M unique travel users a month and that Alibaba (BABA), Facebook (FB) and Amazon.com (AMZN) may be acquirers in the space, Kopelman tells investors in a research note. The analyst interpreted Maffei's comments as "acknowledging a lack of fundamental top line or profit metrics" from TripAdvisor in the near-term. He believes, however, that the comments will increase takeout speculation in the name. Kopelman keeps an Underperform rating on TripAdvisor with a $35 price target.
01/26/17
BARD
01/26/17
NO CHANGE
Target $116
BARD
Outperform
MoneyGram deal consistent with Ant Financial expansion strategy, says Baird
Baird analyst Colin Sebastian views Alibaba (BABA) affiliate Ant Financial's deal to acquire MoneyGram (MGI) as consistent with Ant's recent efforts to expand its global payments network. The deal may help Ant expand usage of the AliPay digital wallet in the U.S., while driving additional MoneyGram transaction volume in the Asia-Pacific region, though there is significant competition in online money transfer from incumbents such as PayPal's (PYPL) Xoom, Sebastian added. He keeps an Outperform rating and $116 price target Alibaba.
AIRM Now private 4/17
$42.98

-0.025 (-0.06%)

03/15/17
SPHN
03/15/17
DOWNGRADE
SPHN
Equal Weight
Air Methods downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Dana Hambly downgraded Air Methods Air Methods following the company's buyout agreement with American Securities.
03/14/17
FLTL
03/14/17
DOWNGRADE
FLTL
Hold
Air Methods downgraded to Hold from Buy at Feltl
Feltl analyst Ben Haynor downgraded Air Methods to Hold with a $43 price target following today's buyout agreement.
03/14/17
KEYB
03/14/17
DOWNGRADE
KEYB
Sector Weight
Air Methods downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Jason Gurda downgraded Air Methods to Sector Weight citing today's takeover offer.
03/14/17
RBCM
03/14/17
NO CHANGE
RBCM
Envision unit could fetch over $2B after Air Methods deal, says RBC Capital
RBC Capital analyst Frank Morgan believes Envision Healthcare's (EVHC) AMR unit could be worth $2.1B-$2.3B, or $17-$19 per share, after peer Air Methods (AIRM) sold for a 20% premium. Envision said on the Q4 earnings call that it is exploring strategic options for the division. The analyst has an Outperform rating on Envision shares.
MMM 3M
$192.36

2.05 (1.08%)

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.
12/13/16
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.
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.
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.
JCI Johnson Controls
$41.97

0.2 (0.48%)

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.
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.
03/13/17
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.
DSW DSW
$20.40

-0.22 (-1.07%)

02/27/17
CLVD
02/27/17
DOWNGRADE
CLVD
Underperform
DSW downgraded to Underperform from Neutral at Cleveland Research
Cleveland Research analyst Daryl Boehringer downgraded DSW to Underperform saying checks indicate sluggish near-term trends. The analyst believes Q4 earnings will likely be managed by expense control with little progress on fundamentals. Boehringer said industry headwinds and increased merchandising turnover could serve as a prolong headwind into 2017 as well.
03/09/17
MZHO
03/09/17
DOWNGRADE
Target $21
MZHO
Neutral
DSW downgraded to Neutral from Buy at Mizuho
Mizuho analyst Betty Chen downgraded DSW to Neutral and lowered its price target to $21 from $25. The analyst said DSW is not immune to traffic headwinds that have continued into Q1 and sees mounting competitive pressures and has concerns cost savings programs will not offset topline and margin headwinds.
02/24/17
ADAM
02/24/17
NO CHANGE
Target $19
ADAM
Buy
DSW price target lowered to $19 from $23 at Canaccord
Canaccord analyst Camilo Lyon lowered his price target on DSW to $19 from $23 following recent retail checks. The analyst believes trends are weaker than planned, citing deep promotions to drive traffic, which underscores concerns around its competitive positioning. Lyon maintained his Buy rating on DSW shares but he sees a tough 2017.
01/03/17
STPT
01/03/17
UPGRADE
STPT
Buy
DSW upgraded to Buy from Hold at Standpoint Research
ARNA Arena Pharmaceuticals
$1.55

-0.02 (-1.27%)

01/05/17
JMPS
01/05/17
NO CHANGE
JMPS
Market Perform
JMP Securities views Arena amended agreement with Eisai 'favorably'
JMP Securities analyst Jason Butler says Arena Pharmaceuticals' (ARNA) amended agreement with Eisai (ESALY) reduces resource and capital constraints on the company while maintaining "attractive" long-term upside from Belviq success. The analyst notes that Eisai will now have full global development and marketing rights to Belviq in exchange for lowering Arena's royalties and cost contributions, which he views "favorably" as the commercial potential for it remains limited. Furthermore, the new agreement allows Arena to further focus its energies and resources in its Phase 2 pipeline assets, Butler adds. He reiterates a Market Perform on Arena Pharmaceuticals' shares.
09/15/16
FBRC
09/15/16
INITIATION
Target $6
FBRC
Outperform
Arena Pharmaceuticals initiated with an Outperform at FBR Capital
FBR Capital analyst Christopher James started Arena Pharmaceuticals with an Outperform rating and $6 price target.
09/15/16
FBRC
09/15/16
INITIATION
Target $82
FBRC
Underperform
FBR calls Alexion overvalued, starts shares at Underperform
FBR Capital analyst Christopher James initiated coverage of Alexion Pharmaceuticals (ALXN) with an Underperform rating and $82 price target. The biotech focused on patients with ultra-rare disorders closed yesterday up $2.63 to $129.42. Alexion shares are overpriced as the company is facing a competitive near-term landscape, particularly from Alnylam's (ALNY) ALN-CC5, James tells investors in a research note. Further, near-term expansion into additional indications will be challenging given the recent failed study with eculizumab in refractory generalized myasthenia gravis, the analyst contends. He also sees possible pricing pressures from biosimilars, including an Amgen (AMGN) biosimilar product in development. James this morning also initiated Achillion Pharmaceuticals (ACHN) and Arena Pharmaceuticals (ARNA) with Outperform ratings.
NPTN NeoPhotonics
$9.17

-0.09 (-0.97%)

03/15/17
CHLM
03/15/17
NO CHANGE
Target $10
CHLM
Buy
NeoPhotonics price target lowered to $10 on China delays at Craig-Hallum
Craig-Hallum analyst Richard Shannon said delays in phase 12 awards and excess inventory are driving much lower than expected China sales, leading NeoPhotonics' Q1 guidance to be even worse than anticipated. He cut his price target on the stock to $10 from $16 and thinks shares will probably trade in a range for the near-term, but he sees low downside risk and good potential reward from these levels and keeps a Buy rating on NeoPhotonics shares.
03/15/17
CHLM
03/15/17
NO CHANGE
CHLM
Buy
Oclaro a 'great buying opportunity,' says Craig-Hallum
Craig-Hallum analyst Richard Shannon believes Oclaro (OCLR) is a "great buying opportunity" at current prices. The analyst says concerns about China inventory are unfounded as there does not appear to be any ZTE (ZTCOY)-related issues, while NeoPhotonics (NPTN) dynamics are distinctly different than Oclaro's. Shannon notes that the latter's stock is "easily the cheapest" in the optical universe, suggesting very low downside risk and making it his best idea in the space. He reiterates a Buy rating on Oclaro's shares.
03/15/17
PIPR
03/15/17
NO CHANGE
Target $9
PIPR
Overweight
NeoPhotonics valuation attractive at these levels, says Piper Jaffray
Piper Jaffray analyst Troy Jensen finds the valuation of NeoPhotonics attractive following the company's "surprisingly weak" Q1 guidance. The next phase of the China 100G upgrade has been delayed by at least three months and is creating a pause in China demand, Jensen tells investors in a post-earnings research note. The analyst remains a buyer of the stock on the belief that demand in China returns and datacom remains strong. He lowered his price target for NeoPhotonics to $9 from $12.50 and reiterates an Overweight rating on the name.
01/30/17
COWN
01/30/17
INITIATION
Target $16
COWN
Outperform
NeoPhotonics initiated with an Outperform at Cowen
Cowen analyst Paul Silverstein initiated NeoPhotonics with an Outperform rating citing its position as a leading supplier of key, enabling optical components for 100G. Silverstein, who said NeoPhotonics is poised to benefit from the optical upgrade cycle, has a $16 price target on the shares.
ORCL Oracle
$45.66

-0.07 (-0.15%)

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
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.
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.
WSM Williams-Sonoma
$49.60

0.35 (0.71%)

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.
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.
VSLR Vivint Solar

10/06/16
GSCO
10/06/16
UPGRADE
GSCO
Neutral
Vivint Solar upgraded to Neutral from Sell at Goldman
Goldman analyst Brian Lee upgraded Vivint to Neutral from Sell with a $3.50 price target, saying the company is "moving on the path toward recovery."
03/17/17
JMPS
03/17/17
NO CHANGE
JMPS
Vivint Solar 'making solid progress,' says JMP Securities
After Vivint Solar reported a lower than expected EPS loss but missed slightly on the top line, JMP Securities analyst Joseph Osha says that the company "is making solid progress" with its rebuilding process. The analyst says that the company has sufficient financing to continue its business for at least another two quarters. He thinks that the stock could be worth $11 per share, but he says that the company's business environment is "very unstable," and he keeps a Market Perform rating on the shares.
10/07/16
10/07/16
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. Gap (GPS) upgraded to Hold from Sell at Deutsche Bank with analyst Paul Trussell saying the company's near-to medium-term setup is more favorable amid easing compares over the next few months and an improved apparel backdrop. 2. DuPont Fabros (DFT) upgraded to Buy from Hold at Stifel with analyst Matthew Heinz saying the company's current valuation reflects an expectation for weaker Q3 leasing activity. 3. Ralph Lauren (RL) upgraded to Conviction Buy from Buy at Goldman with analyst Lindsay Drucker Mann saying CEO Stefan Larsson's turnaround is firmly in place. 4. Restoration Hardware (RH) upgraded to Neutral from Underperform at Buckingham with the firm's analyst believing $1.60-$1.80 fiscal 2016 earnings are achievable, reducing the risk of further downward earnings revisions. 5. Vivint Solar (VSLR) upgraded to Neutral from Sell at Goldman with analyst Brian Lee saying the company is "moving on the path toward recovery." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/10/16
JMPS
11/10/16
DOWNGRADE
JMPS
Market Perform
Vivint Solar downgraded to Market Perform from Outperform at JMP Securities
TLYS Tilly's
$9.05

0.06 (0.67%)

04/06/16
ROTH
04/06/16
NO CHANGE
Target $8.5
ROTH
Buy
Tilly's may benefit from PacSun bankrupcy, says Roth Capital
Roth Capital analyst Dave King believes Tilly's (TLYS) stands to benefit over the intermediate and longer-term if PacSun (PSUN) files for chapter 11 bankruptcy, given the "significant" store overlap and similar customers. King reiterates his $8.50 price target and a Buy rating on Tilly's shares, reflecting the company's "attractive valuation," general focus on preserving product margins, and "strong" balance sheet.
08/25/16
RILY
08/25/16
UPGRADE
Target $9.5
RILY
Buy
Tilly's upgraded to Buy from Neutral at B. Riley
B. Riley analyst Jeff Van Sinderen upgraded Tilly's to Buy from Neutral after the company reported better than expected quarterly sales and earnings, noting its improved trends along with multiple expansion in the sector. Van Sinderen raised his price target on Tilly's shares to $9.50 from $8.00.
RUBI Rubicon Project
$5.80

0.04 (0.69%)

03/15/17
RILY
03/15/17
DOWNGRADE
Target $7.5
RILY
Neutral
Rubicon Project downgraded to Neutral from Buy at B. Riley
B. Riley analyst Sameet Sinha downgraded Rubicon Project to Neutral and lowered his price target for the shares to $7.50 from $10.50 after the company's Q1 outlook missed expectations.
03/03/17
SBSH
03/03/17
NO CHANGE
Target $10
SBSH
Neutral
Citi says M&A speculation likely to keep Rubicon Project near current levels
Citi analyst Mark Kelley moved his price target for Rubicon Project shares to $10, assigning it a gross profit multiple that was derived from the average price paid in the acquisitions of TubeMogul and Turn. He believes M&A speculation will likely keep the stock near current levels. Rubicon closed yesterday down 1.8% at $8.75, but has rallied about 18% over the last three months.
03/15/17
CHLM
03/15/17
DOWNGRADE
Target $8
CHLM
Hold
Rubicon Project downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst Jason Kreyer downgraded Rubicon Project to Hold and cut his price target for the shares to $8 from $9 following the company's Q4 results. B. Riley this morning also downgraded the shares.
03/16/17
JEFF
03/16/17
DOWNGRADE
Target $7.25
JEFF
Hold
Rubicon Project downgraded to Hold from Buy at Jefferies
Jefferies analyst Brian Fitzgerald downgraded Rubicon Project to Hold saying the company's "weak": Q1 guidance reflects uncertainty around its new investment initiatives. The analyst lowered his price target for the shares to $7.25 from $9.
AKAO Achaogen
$22.39

-0.68 (-2.95%)

03/06/17
WEDB
03/06/17
NO CHANGE
WEDB
Achaogen price target raised to $28 from $23 at Wedbush
Wedbush analyst Robert Driscoll says that data on Achaogen's Plazomicin has left the company well-positioned to successfully sell the drug in the U.s. and obtain a partner that will sell the drug outside the U.S. The analyst thinks that the company is an "attractive takeout candidate," and he reiterates an Outperform rating on the stock.
03/15/17
STFL
03/15/17
NO CHANGE
STFL
Investors should be opportunistic on any Achaogen weakness, says Stifel
After the FDA issued a warning letter to one of Achaogen's manufacturing facilities, Stifel analyst Stephen Willey notes that the regulatory submission timelines for the company's plazomicin drug are unchanged, while the company does not appear to be urgently looking to bring another site online. As a result, he thinks that the issue is not serious,and he tells investors " to be opportunistic on any related weakness." He keeps a Buy rating on the shares.
03/17/17
RHCO
03/17/17
NO CHANGE
Target $31
RHCO
Buy
Achaogen short report 'fundamentally flawed,' says SunTrust
SunTrust analyst Edward Nash says a short report posted earlier this week on website Seeking Alpha is "short on facts and fundamentally flawed." The report's conclusion on the EPIC and CARE studies is incorrect, at best, Nash tells investors in a research note. Further, the report made inaccurate claims about the FDA's requirements for plazomicin's new drug application submission, the analyst adds. He reiterates a Buy rating on Achaogen with a $31 price target.
03/16/17
RHCO
03/16/17
NO CHANGE
RHCO
Achaogen warning letter should not be major issue, says SunTrust
SunTrust analyst Edward Nash says that a warning letter issued by the FDA to Achaogen's manufacturing partner should be resolved relatively quickly and therefore "should not have significant impact on" the approval of the company's plazomicin drug. The firm reiterates its $31 price target and Buy rating on Achaogen.
GES Guess
$11.30

0.45 (4.15%)

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.
03/09/17
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.
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.
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.
ADBE Adobe
$127.01

4.66 (3.81%)

03/17/17
ADAM
03/17/17
NO CHANGE
Target $145
ADAM
Buy
Adobe price target raised to $145 from $125 at Canaccord
Canaccord analyst Richard Davis raised his price target on Adobe to $145 from $125 following Q1 results. The analyst believes the company has the right formula to organically expand its addressable market and cited its beat on all metrics with guidance suggesting continued strength into Q2. Davis said Adobe is the highest quality large-cap software name and reiterated his Buy rating on the shares.
03/17/17
BOFA
03/17/17
NO CHANGE
Target $160
BOFA
Buy
Adobe price target raised to $160 from $125 at BofA/Merrill
BofA Merrill Lynch analyst Kash Rangan called Adobe management conservative in maintaining their FY17 guidance after the company's strong "beat and raise" Q1 report, adding that he was surprised that net new Creative Cloud ARR and digital media ARR doubled year-over-year in the quarter. The analyst, who said the results give him more confidence in his long-term bull case, reiterates a Buy rating and raised his price target on Adobe to $160 from $125.
03/17/17
JMPS
03/17/17
NO CHANGE
JMPS
Adobe price target raised to $138 from $120 at JMP Securities
JMP Securities analyst Patrick Walravens raised his price target on Adobe as he believes that the company reported "strong" Q1 results. The analyst expects the company "to continue to drive profitable growth." He keeps an Outperform rating on the shares.
03/17/17
03/17/17
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. Adobe (ADBE) upgraded to Buy from Hold at Wunderlich with analyst Ryan Macdonald citing the company's better than expected first quarter results. The analyst raised his price target for the shares to $145 from $115. 2. L Brands (LB) upgraded to Outperform from Market Perform at FBR Capital with analyst Susan Anderson saying her survey work shows that Victoria Secret has not lost share over the past year and that same-store-sales will be better than expected in the second half of 2017. 3. Vertex (VRTX) upgraded to Outperform from Market Perform at JMP Securities with analyst Liisa Bayko saying the company's triple combo data this year could expand its cystic fibrosis patient pool by greater than 50%. Positive triple combo data could make Vertex a takeover target, Bayko adds. 4. Dean Foods (DF) upgraded to Overweight from Neutral at JPMorgan with analyst Ken Goldman raising his estimates to reflect lower raw dairy costs. The outlook for Dean's largest input, Class I milk, has softened in recent months, Goldman tells investors in a research note. The analyst raised his price target for the shares to $22 from $20. 5. Barclays (BCS) upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TIF Tiffany
$92.42

2.44 (2.71%)

03/06/17
NOMU
03/06/17
NO CHANGE
NOMU
Tiffany has multiple potential positive catalysts, says Nomura
Nomura analyst Simeon Sigel says that Tiffany has multiple potential positive catalysts. The company can add 55-95 new stores in underpenetrated markets, which would increase its EPs by 50c-90c, according to the analyst. Tiffany could increase its EPS by 25c by obtaining its diamonds from more economical sources, and it could raise its EPS by another 25c by lowering its ad costs to the historical average, according to Sigel. Finally, Tiffany could raise its EPS another 35c-70c by taking steps to lower its tax rate below the current 35c level, wrote Sigel. The analyst raised his price target on the shares to $98 from $84 and keeps a Buy rating.
03/16/17
OPCO
03/16/17
NO CHANGE
Target $105
OPCO
Outperform
Tiffany price target raised to $105 from $87 at Oppenheimer
Oppenheimer analyst Brian Nagel raised his price target for Tiffany to $105 from $87 as he is "increasingly optimistic" that fresh eyes within the company's senior ranks might bring an improved executional acumen and operating disciplines to the chain. The analyst reiterates an Outperform rating on the shares.
03/15/17
JEFF
03/15/17
NO CHANGE
Target $102
JEFF
Buy
Jefferies sees catalysts for Tiffany, reiterates $102 price target
Jefferies analyst Randal Konik reiterates a Buy rating on shares of Tiffany with a $102 price target. The company has a strong positioning in a growing market, Konik tells investors in a research note. He believes improvements in fashion jewelry, easing tourism headwinds and more innovative marketing efforts present catalyst for the stock.
03/17/17
JEFF
03/17/17
NO CHANGE
Target $110
JEFF
Buy
Tiffany price target raised to $110 after Q4 results at Jefferies
Jefferies analyst Randal Konik raised his price target for Tiffany shares to $110 from $102 following the company's Q4 results. With sales accelerating, margins strengthening and product newness accelerating soon, the stock should move higher, Konik tells investors in a research note. He reiterates a Buy rating on Tiffany.
CAL Caleres
$27.95

-3.7 (-11.69%)

03/03/17
03/03/17
UPGRADE
Target $37

Overweight
Caleres upgraded to Overweight on valuation, rising margins at Morgan Stanley
As previously reported, Morgan Stanley upgraded Caleres to Overweight from Equal Weight with a $37 price target. Analyst Jay Sole said Caleres has invested in warehousing and distribution since 2014 that should begin to drive EBIT margin expansion now, which is not reflected in valuation. Further, Allen Edmonds deal accretion should add at least 15c to FY17 and Sole's FY18 earnings forecast is now 6% above consensus.
12/07/16
SUSQ
12/07/16
UPGRADE
Target $40
SUSQ
Positive
Caleres upgraded to Positive at Susquehanna
As reported previously, Susquehanna analyst Sam Poser upgraded Caleres to Positive from Neutral citing its exceptional margin growth in the Brand Portfolio and same store sales trends at Famous Footwear. The analyst also noted its inventory positioning and easy upcoming comps. Poser raised his price target to $40 from $25 on Caleres shares.
12/13/16
KING
12/13/16
DOWNGRADE
KING
Neutral
Caleres downgraded to Neutral from Buy at CL King
CL King downgraded Caleres to Neutral citing valuation.
03/03/17
MSCO
03/03/17
UPGRADE
MSCO
Overweight
Caleres upgraded to Overweight from Equal Weight at Morgan Stanley

TODAY'S FREE FLY STORIES

HSY

Hershey

$107.44

0.34 (0.32%)

19:16
08/23/17
08/23
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19:16
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Hershey Company to acquire 1.5M common shares from Hershey Trust »

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MSADY

MS&AD Insurance

$17.08

-0.085 (-0.50%)

19:07
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19:07
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MS&AD Insurance to acquire First Capital Insurance in $1.6B deal »

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AMGN

Amgen

$169.00

-1.07 (-0.63%)

18:46
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Amgen: Lancet Oncology publishes survival analysis from KYPROLIS Phase 3 trial »

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GE

General Electric

$24.39

-0.21 (-0.85%)

, ABB

ABB

$23.13

-0.01 (-0.04%)

18:39
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08/23
18:39
08/23/17
18:39
Periodicals
GE resumes talks with ABB over industrial solutions deal, Reuters reports »

General Electric (GE) has…

GE

General Electric

$24.39

-0.21 (-0.85%)

ABB

ABB

$23.13

-0.01 (-0.04%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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LZB

La-Z-Boy

$24.95

-6.3 (-20.16%)

, AMZN

Amazon.com

$958.00

-8.9 (-0.92%)

18:17
08/23/17
08/23
18:17
08/23/17
18:17
Periodicals
La-Z-Boy in talks with Amazon over youth shopper outreach, MarketWatch reports »

La-Z-Boy (LZB) is in…

LZB

La-Z-Boy

$24.95

-6.3 (-20.16%)

AMZN

Amazon.com

$958.00

-8.9 (-0.92%)

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

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VLKAY

Volkswagen

$30.67

0.19 (0.62%)

18:14
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18:14
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18:14
Periodicals
VW to launch two-tone compact SUV, Bloomberg says »

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F

Ford

$10.71

0.06 (0.56%)

18:01
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18:01
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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%)

17:47
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08/23
17:47
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17:47
Periodicals
Boeing 'disappointed' company not chosen for cruise missile deal, Bloomberg says »

Lockheed (LMT), Raytheon…

BA

Boeing

$238.09

-1.66 (-0.69%)

LMT

Lockheed Martin

$302.84

-1.96 (-0.64%)

RTN

Raytheon

$178.19

-1.03 (-0.57%)

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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  • 23

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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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08/23
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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

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

Matson

$24.02

0.24 (1.01%)

17:28
08/23/17
08/23
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Hot Stocks
Matson upgrading its Honolulu terminal »

Matson announced that a…

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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 »

Tactile Systems files to…

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TCMD

Tactile Systems

$33.90

0.78 (2.36%)

17:23
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Syndicate
Breaking Syndicate news story on Tactile Systems »

Tactile Systems files…

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CIVI

Civitas Solutions

$18.30

-0.1 (-0.54%)

17:21
08/23/17
08/23
17:21
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Civitas Solutions analyst commentary  »

Civitas announces…

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LLL

L3 Technologies

$179.28

-1.39 (-0.77%)

17:20
08/23/17
08/23
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L3 Technologies awarded $172.9M government contract modification »

L-3 Communications Vertex…

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BA

Boeing

$238.08

-1.67 (-0.70%)

17:19
08/23/17
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Hot Stocks
Boeing awarded $222.5M government contract modification »

The Boeing…

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RTN

Raytheon

$178.19

-1.03 (-0.57%)

17:18
08/23/17
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Raytheon awarded approximately $900M government contract »

Raytheon Co., Tucson,…

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LMT

Lockheed Martin

$302.84

-1.96 (-0.64%)

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

Lockheed Martin Corp.,…

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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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HP Inc. sees Samsung deal closing in Q4 »

HP Inc. (HPQ) said it saw…

HPQ

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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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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Hot Stocks
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
08/23/17
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Hot Stocks
Rogers Corporation director sells 3,500 common shares »

In a regulatory filing,…

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GES

Guess

$12.48

0.11 (0.89%)

16:59
08/23/17
08/23
16:59
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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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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

16:56
08/23/17
08/23
16:56
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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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