2017-05-18 10:32:23PGR   - $41.37
0.21 (0.51%) , SHAK… 10:3205/18/17 05/1810:32 05/18/1710:32 | On The Fly: Top five analyst upgradesCatch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Progressive (PGR) upgraded to Hold from Sell at Deutsche Bank with analyst Joshua Shanker saying his concerns over the company's margins "are not longer apt" and that sees no catalyst to the downside. 2. Shake Shack (SHAK) upgraded to Outperform from Neutral at Wedbush with analyst Nick Setyan saying the valuation at current share levels is attractive given Shake Shack's "industry-leading growth trajectory. 3. CarMax (KMX) upgraded to Outperform from Neutral at Wedbush with analyst Seth Basham saying the company's CAF credit losses will probably rise less in 2017 than in 2016, reducing "the risk of a credit-driven blowout." 4. Bank of Montreal (BMO) upgraded to Buy from Neutral at Citi with analyst Ian Sealey citing the recent pullback in the shares of Canadian banks as he sees "strong" book value and dividend growth over the longer term. 5. BioLineRx (BLRX) upgraded to Buy from Hold at Maxim with analyst Jason Kolbert saying the company is now closer to being a pivotal company after announcing it will initiate a Phase 3 program for BL-8040 in stem cell mobilization later this year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. PGR - $41.37
0.21 (0.51%) SHAK KMX - $62.45
2.43 (4.05%) BMO - $68.35
0.7 (1.03%) BLRX - $0.83
-0.0138 (-1.64%) | |
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- $41.37
0.21 (0.51%) - 05/18/17
- DBAB
05/18/17
UPGRADETarget $40
DBAB
Hold Progressive upgraded to Hold with no downside catalyst at Deutsche Bank Deutsche Bank analyst Joshua Shanker upgraded Progressive to Hold from Sell and raised his price target for the shares to $40 from $35. The analyst says his concerns over the company's margins "are not longer apt" and that sees no catalyst to the downside. - 04/10/17
- KBWI
04/10/17
UPGRADETarget $45
KBWI
Outperform Progressive upgraded to Outperform from Market Perform at Keefe Bruyette Keefe Bruyette analyst Meyer Shields upgraded Progressive to Outperform and raised his price target for the shares to $45 from $39. - 04/13/17
- WBLR
04/13/17
NO CHANGEWBLR
Outperform Progressive operating EPS have potential to double by 2019, says William Blair William Blair analyst Adam Klauber said auto insurance pricing power is on the rise, pointing to increasing average personal auto combined ratio for the top 10 auto insurers as proof. With this stress expected to result in a jump in auto premiums, Klauber said Progressive "stands out" among insurers best positioned to take advantage, estimating that it has the potential to double its operating EPS from 2016 to 2019. The analyst keeps an Outperform rating on Progressive shares. - 05/17/17
- DBAB
Progressive upgraded to Hold from Sell at Deutsche Bank - 05/05/17
05/05/17
UPGRADETarget $39
Buy Shake Shack upgraded to Buy on valuation, reset expectations at Buckingham As previously reported, Buckingham upgraded Shake Shack to Buy from Neutral and maintained a $39 price target. Analyst John Zolidis said shares have declined almost 16% year-to-date while it has passed the most difficult comps and new Shacks continue to open at robust volumes. The analyst also said the company reset guidance and believes it can begin to exceed estimates, and remains excited about growth opportunities and best in class store metrics. - 05/05/17
- RHCO
Shake Shack SSS weakness creates buying opportunity, says SunTrust SunTrust analyst Jake Bartlett says that Shake Shak's lower than expected SSS has created a buying opportunity. He says that "the slowdown was weather related and isolated to March." Moreover, he notes that the company accelerated the pace of its planned new restaurant openings. He trimmed his price target to $48 from $50 but keeps a Buy rating. - 05/05/17
- BUCK
Shake Shack upgraded to Buy from Neutral at Buckingham - 05/18/17
- WEDB
05/18/17
UPGRADETarget $43
WEDB
Outperform Shake Shack upgraded to Outperform from Neutral at Wedbush Wedbush analyst Nick Setyan upgraded Shake Shack to Outperform and raised his price target for the shares to $43 from $33. The burger chain closed yesterday up 52c to $36.65. The valuation at current share levels is attractive given Shake Shack's "industry-leading growth trajectory," Setyan tells investors in a research note. The analyst sees upside potential to current EBITDA estimates from new unit outperformance, margin leverage and same-store-sales growth. - $62.45
2.43 (4.05%) - 03/20/17
Susquehanna cautious on auto dealers due to falling profits Susquehanna analyst Ali Faghri said he was cautious on the auto dealers citing weak Q4 financial results as gross profits deteriorated, inventory levels have become elevated, and used car price declines are accelerating. Faghri favors Penske Automotive (PAG) and KarMax (KMX) due to their diverse business model but he sees a downside bias to Autonation (AN), Lithia Motors (LAD), and Group 1 Automotive. (GPI). - 04/05/17
- MSCN
CarMax Q1 tracking 'very strong,' says MScience MScience said CarMax's Q1 is "very strong" with same-store-sales tracking to +8-10% versus consensus of +5%. - 05/18/17
- WEDB
05/18/17
UPGRADEWEDB
Outperform CarMax upgraded to Outperform from Neutral at Wedbush - 05/18/17
- WEDB
05/18/17
UPGRADEWEDB
Outperform CarMax upgraded on credit improvement at Wedbush As noted earlier, Wedbush upgraded CarMax to Outperform from Neutral. Analyst Seth Basham says that the company's CAF credit losses will probably rise less in 2017 than in 2016, reducing "the risk of a credit-driven blowout." He also believes that the company's core business will continue to be strong. Target to $70 from $60. - $68.35
0.7 (1.03%) - 12/07/16
- ADAM
Bank of Montreal upgraded to Buy from Hold at Canaccord - 12/07/16
- ADAM
Bank of Montreal upgraded to Buy at Canaccord As reported previously, Canaccord analyst Gabriel Dechaine upgraded Bank of Montreal to Buy from Hold citing its strong operating leverage trend, its U.S. retail business performance, and a favorable geographic footprint. Dechaine raised his price target to C$99 from C$91 on Bank of Montreal shares. - 03/01/17
- SCOT
03/01/17
UPGRADESCOT
Outperform Bank of Montreal upgraded to Outperform from Sector Perform at Scotiabank - 05/18/17
- SBSH
Bank of Montreal upgraded to Buy from Neutral at Citi Citi analyst Ian Sealey upgraded Bank of Montreal to Buy with an unchanged price target of C$110. The analyst cites the recent pullback in the shares of Canadian banks as he sees "strong book" value and dividend growth over the longer term. - $0.83
-0.0138 (-1.64%) - 05/18/17
- MAXM
05/18/17
UPGRADETarget $3
MAXM
Buy BioLineRx upgraded to Buy from Hold at Maxim Maxim analyst Jason Kolbert upgraded BioLineRx to Buy from Hold as the company is now closer to being a pivotal company after announcing it will initiate a Phase 3 program for BL-8040 in stem cell mobilization later this year. Kolbert, who believes the stock can start to outperform in 2017, raised his price target on BioLineRx to $3 from $1. - 04/18/17
- RODM
04/18/17
NO CHANGETarget $4
RODM
Buy BioLineRx price target raised to $4 from $3 at Rodman & Renshaw Rodman & Renshaw analyst Joseph Pantginis raised his price target for BioLineRx to $4 saying BL-8040 stem-cell mobilization data "continue to point in right direction." The analyst keeps an Outperform rating on the shares. - 02/13/17
- RODM
02/13/17
INITIATIONTarget $3
RODM
Buy BioLineRx initiated with a Buy at Rodman & Renshaw Rodman & Renshaw analyst Joseph Pantginis started BioLineRx with a Buy rating and $3 price target. - 09/07/16
BioLineRx partnering with Roche company in cancer therapy research BioLineRx (BLRX) has entered into a collaboration with Genentech, a member of the Roche (RHHBY) Group, to support several Phase 1b studies investigating BioLineRx's BL-8040 in combination with Atezolizumab, Genentech's anti-PDL1 cancer immunotherapy, in multiple cancer indications. The Phase 1b studies will evaluate the clinical response, safety and tolerability of the combination of these therapies, as well as multiple pharmacodynamic parameters, in hematologic malignancies and solid tumors. Under the agreement, Genentech will sponsor and conduct several Phase 1b trials in multiple solid cancer indications. In addition, BioLineRx will sponsor and conduct a Phase 1b study in acute myeloid leukemia patients. The studies are designed to evaluate the safety and efficacy of the combination of BL-8040 and Atezolizumab. Upon completion of the studies, both parties will have the option to expand the collaboration to include a pivotal registration study. Additional details of the collaboration were not disclosed. |