2017-05-19 10:23:13P   - $9.29
-0.135 (-1.43%) , BLMN - $20.59
-0.3 (-1.44%) … 10:2305/19/17 05/1910:23 05/19/1710:23 | On The Fly: Top five analyst downgradesCatch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Macquarie analyst Amy Yong downgraded Pandora (P) to Neutral from Outperform and trimmed her price target to $11 saying potential M&A is to "tough to call" and fundamentals are "choppy." The analyst believes Pandora could sell Ticketfly which would free up financial capacity and help management focus on the core business, but said if neither a sale or M&A materializes, its standalone strategy will be the focus. 2. Wells Fargo analyst Jeff Farmer downgraded Bloomin' Brands (BLMN) to Market Perform saying Street estimates could prove aggressive due to labor costs while share repurchases are decelerating. 3. Deutsche Bank analyst Tiffany Kanaga downgraded The Buckle (BKE) to Sell, citing a lack of near-term support post the Q1 report and continued long-term concerns. 4. HSBC analyst Steve McGarry downgraded Shire (SHPG) to Reduce, saying that while the hereditary angioedema data are positive, investors should avoid the "hemophilia risk." 5. RBC Capital analyst Matthew Hedberg downgraded Symantec (SYMC) to Sector Perform from Outperform, 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. P - $9.29
-0.135 (-1.43%) BLMN - $20.59
-0.3 (-1.44%) BKE - $16.23
-1.1715 (-6.73%) SHPG - $190.00
7.83 (4.30%) SYMC - $29.74
-0.38 (-1.26%) | |
|---|
- $9.29
-0.135 (-1.43%) - 05/19/17
- MACQ
05/19/17
DOWNGRADETarget $11
MACQ
Neutral Pandora downgraded to Neutral from Outperform at Macquarie Macquarie analyst Amy Yong downgraded Pandora (P) to Neutral from Outperform and trimmed her price target to $11 saying potential M&A is to "tough to call" and fundamentals are "choppy." Yong said Liberty SiriusXM (LSXMA) is expected to remain financially disciplined and opportunistic, and unlikely to pay a substantial premium for Pandora. The analyst believes Pandora could sell Ticketfly which would free up financial capacity and help management focus on the core business, but said if neither a sale or M&A materializes, its standalone strategy will be the focus. As a result, Yong trimmed Pandora ad and subscription estimates to reflect the increasingly competitive environment and said profitability remains a question. - 05/18/17
- RHCO
Pandora could be acquired for $12 per share, says SunTrust After The New York Post reported that merger talks between Pandora (P) and Sirius XM (SIRI) have resumed, SunTrust analyst Matthew Thornton says that Pandora can be acquired for a per share price of "$9+-$12+." He thinks that other suitors besides Sirius could include Tencent (TCEHY), Spotify, and Google (GOOG,GOOGL) However, the analyst adds that Pandora's new features have not impacted the company's fundamentals significantly, while the launch of its new products has been delayed. He cut his price target on the shares to $10.50 from $16 but kept a Buy rating on the stock. - 05/17/17
On The Fly: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Neutral from Outperform at Macquarie with analyst Tim Nollen saying the company's exposure to cable and "outsized" subscriber declines at ESPN "have again become a focal point in investors' minds." 2. Pandora (P) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Heath Terry saying he was wrong in thinking the market would focus on new subscription products and a return to profitability by the fourth quarter. 3. Square (SQ) downgraded to Neutral from Buy at BTIG with analyst Mark Palmer citing valuation following the strong rally and removed his $20 price target. 4. AMD (AMD) downgraded to Hold from Buy at Loop Capital with analyst Betsy Van Hees saying she believes the stock is fairly valued and is already pricing in "a lot," including the launches of RYZEN CPUs, Vega GPUs and the new EPYC server chip. 5. Etsy (ETSY) downgraded to Hold from Buy at Loop Capital with analyst Blake Harper saying with Etsy's new management team undertaking an internal strategic and operational review, an imminent sale of the company is unlikely. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. - 05/17/17
- GSCO
Pandora downgraded to Buy from Conviction Buy at Goldman Sachs Goldman analyst Heath Terry removed Pandora from the Conviction Buy List given the slower than expected launch of Premium. Terry said he was wrong in thinking the market would focus on new subscription products and a return to profitability by Q4. Investors are clearly more focused on execution issues of unexpected financing needs and attempts to sell its recently acquired ticketing business, along with increasing competition, the analyst wrote. Terry continues to rate Pandora a Buy with a $16 price target given the significant strategic value of the user base, home screen position, and advertising inventory data, and believes a strategic actions are likely. - $20.59
-0.3 (-1.44%) - 05/19/17
- WELS
05/19/17
DOWNGRADETarget $22
WELS
Market Perform Bloomin' Brands downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo analyst Jeff Farmer downgraded Bloomin' Brands to Market Perform saying Street estimates could prove aggressive due to labor costs while share repurchases are decelerating. The analyst lowered his price target for the shares to $22 from $24. - 02/23/17
- FBCO
02/23/17
DOWNGRADEFBCO
Neutral Bloomin' Brands downgraded to Neutral from Outperform at Credit Suisse - 02/23/17
02/23/17
DOWNGRADETarget $19
Neutral Bloomin' Brands downgraded to Neutral at Credit Suisse As previously reported, Credit Suisse analyst Jason West downgraded Bloomin' Brands to Neutral from Outperform following weak Q4 results and outlook, and as he sees few fundamental catalysts from here. The analyst also lowered his price target on the shares to $19 from $21. - 04/13/17
- OTRG
Bloomin' Brands upgraded to Mixed from Negative at OTR Global OTR Global upgraded Bloomin' Brands to Mixed saying checks indicate Q1 same-store-sales are flat to up slightly year-over-year. - $16.23
-1.1715 (-6.73%) - 05/19/17
- DBAB
05/19/17
DOWNGRADETarget $16
DBAB
Sell The Buckle downgraded to Sell from Hold at Deutsche Bank Deutsche Bank analyst Tiffany Kanaga downgraded The Buckle to Sell citing a lack of near-term support post the Q1 report and continued long-term concerns. The analyst expects negative same-store-sales to drive a 20% decline in earnings in each of the next three years. She keeps a $16 price target for the shares. - 05/23/16
- KEYB
Some retailers better positioned than others to adopt to trends, says KeyBanc After attending the Shoptalk conference, KeyBanc says that some retailers are better positioned than others to adopt to changing trends in the sector. Better positioned retailers include those "with compelling experiences," including Nordstrom (JWN), and those "with strong consumers connections," such as Lululemon (LULU), VF Corp (VFC), Oxford Industries (OXM), and Under Armour (UA), according to the firm. Conversely, retailers with large store footprints, particularly those with a significant presence in malls, "will continue to see pressure," KeyBanc believes. Among the companies in the latter category are L Brands (LB), Zumiez (ZUMZ), The Buckle (BKE), and Francesca's (FRAN), according to the firm. - 04/07/17
- DBAB
04/07/17
UPGRADETarget $16
DBAB
Hold The Buckle upgraded to Hold from Sell at Deutsche Bank Deutsche Bank analyst Tiffany Kanaga upgraded The Buckle to Hold saying she sees near-term valuation support with the stock down 52% in the past year. The analyst believes the retailer's good momentum can extend at least into April. She upped her price target for the shares to $16 from $15. - $190.00
7.83 (4.30%) - 03/07/17
- LEHM
03/07/17
INITIATIONLEHM
Overweight Shire reinstated with an Overweight at Barclays After his firm dropped coverage in June 2016, Barclays analyst Emmanuel Papadakis reinstated Shire with an Overweight rating and GBP 65 price target. The rating is unchanged from last year. - 03/07/17
- LEHM
European Pharma raised to Positive from Neutral at Barclays Barclays analyst Emmanuel Papadakis rolled out coverage of the European Pharmaceuticals space and upgraded his sector view to Positive from Neutral. The analyst has "high conviction that the recent transformational era of R&D innovation is set to continue," which he believes will allow the sector to retain pricing power. Papadakis put Overweight ratings on AstraZeneca (AZN), Roche (RHHBY) and Shire (SHPG), with Astra his top pick. The analyst put an Equal Weight rating on GlaxoSmithKline (GSK) and Underweight ratings on Sanofi (SNY), Novartis (NVS) and Novo Nordisk (NVO). - 04/10/17
- STFL
Shire new HAE drug likely to be momentum driver, says Stifel Stifel analyst Annabel Samimy says that there is a high probability that Shire's SHP643, a SubQ, once- or twice-monthly prophylactic treatment for hereditary angioedema, will be successful, as the analyst says that the drug would "present a meaningful advance to current prophylactic treatment" of the disease. The analyst thinks that the treatment could expand the market for prophylaxis, as the current standard of care is administered through IV, and she expects it to create momentum for Shire's stock. Samimy notes that Phase 3 data on the drug is expected to be released soon. She keeps a $250 price target and a Buy rating on the shares. - 05/19/17
- HSBC
05/19/17
DOWNGRADEHSBC
Reduce Shire downgraded to Reduce from Hold at HSBC HSBC analyst Steve McGarry downgraded Shire to Reduce saying that while the hereditary angioedema data are positive, invesotrs should avoid the "hemophilia risk." The analyst believes the Baxalta deal could hurt return on invested capital if competition in hemophilia "gets notably more severe." He lowered his price target for Shire shares to 4,450p from 4,550p. - $29.74
-0.38 (-1.26%) - 05/18/17
- UBSW
05/18/17
DOWNGRADETarget $33
UBSW
Neutral Symantec downgraded to Neutral at UBS As previously reported, UBS analyst Fatima Boolani downgraded Symantec to Neutral from Buy on a more balanced risk/reward. The analyst said the consensus bullish view of earnings and growth expectations is already priced into the stock. Boolani raised her price target to $33 from $31 on Symantec shares. - 05/18/17
On The Fly: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Symantec (SYMC) downgraded to Neutral from Buy at UBS with analyst Fatima Boolani citing a more balanced risk/reward. 2. Jack in the Box (JACK) downgraded to Sector Weight from Overweight at KeyBanc and to Market Perform from Outperform at Telsey Advisory. 3. Grainger (GWW) downgraded to Sell from Hold at Deutsche Bank with analyst John Inch saying the company is "positioned to quickly lose share" as competitors respond with price cuts of their own. 4. Stratasys (SSYS) downgraded to Hold from Buy at Jefferies with analyst James Kisner citing the recent rally in the shares and uncertainty around the timing of new manufacturing opportunities. The analyst raised his price target for the stock to $30 from $24 following the company's first quarter results. 5. Endologix (ELGX) was downgraded to Equal Weight from Overweight at Stephens, to Neutral from Buy at BTIG, and to Hold from Buy at Stifel. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. - 05/19/17
- RBCM
05/19/17
DOWNGRADERBCM
Sector Perform Symantec downgraded to Sector Perform from Outperform at RBC Capital - 05/19/17
- RBCM
05/19/17
DOWNGRADERBCM
Sector Perform Symantec downgraded on valuation at RBC Capital As noted earlier, RBC Capital downgraded Symantec to Sector Perform from Outperform. Analyst Matthew Hedberg downgraded the stock based on valuation. Target $32. |