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COST

Costco

$167.11

-12.95 (-7.19%)

, AMZN

Amazon.com

$987.71

23.54 (2.44%)

10:36
06/19/17
06/19
10:36
06/19/17
10:36

Costco slide deepens as Deutsche joins Goldman with downgrade

The shares of Costco (COST) are declining after Deutsche Bank downgraded the stock today, citing increased competition and fading catalysts. The rating change in the wake of Amazon's (AMZN) deal for Whole Foods (WFM) echoes concerns expressed by Goldman Sachs in its own downgrade of Costco on Friday. DEUTSCHE DOWNGRADE: Analyst Paul Trussell downgraded Costco shares to Hold from Buy, stating that competition is intensifying as Amazon and Wal-Mart (WMT) are both launching new in-store and online initiatives at an accelerated pace. Amazon's takeover of Whole Foods is "a game changer," as it threatens Costco's "competitive moat in groceries," the analyst stated. Additionally, Trussell believes that Costco's online system is weaker than that of its peers, noting that its online sales rose only 11% year-over-year in its second and third quarters. The analyst added that several of the retailer's previous catalysts, including its special dividend and its switch to co-branded Visa (V) cards from American Express (AXP), have played out, while there do not appear to be "a pipeline of new catalysts." Trussell trimmed his price target on Costco to $172 from $187. GOLDMAN: Analyst Matthew Fassler downgraded Costco to Neutral from Buy and removed it from his firm's Conviction List, arguing that Amazon's "ongoing interest in consumables," along with Costco's "fading...catalysts" will put a ceiling on Costco's stock. Costco's competitive advantage was based on its natural and organic food offerings, along with "consumables not easily available on Amazon," according to Fassler. In the wake of the Whole Foods deal, Amazon will probably be able to provide such items more efficiently and at lower prices than retailers that currently sell them, the analyst stated. Additionally, Fassler and Trussell agree on the status of Costco's positive catalysts, saying that they are "passed or are peaking." He cut his price target on the stock to $176 from $197. PRICE ACTION: In morning trading, Costco fell 2% to $163.70. Over the last two sessions, Costco shares have declined over 9%.

COST

Costco

$167.11

-12.95 (-7.19%)

AMZN

Amazon.com

$987.71

23.54 (2.44%)

WMT

Wal-Mart

$75.01

-0.23 (-0.31%)

V

Visa

$94.45

0.28 (0.30%)

AXP

American Express

$81.57

0.12 (0.15%)

WFM

Bought by AMZN

$42.68

9.62 (29.10%)

  • 20

    Jun

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    Aug

COST Costco
$167.11

-12.95 (-7.19%)

06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Wal-Mart, Costco could be hurt by Whole Foods deal, says RBC Capital
RBC Capital analyst Scot Ciccarelli warns that Wal-Mart (WMT) and Costco (COST) could be hurt by the Whole Foods deal. The analyst says that "combining Whole Foods' high-end reputation with a logistics juggernaut like Amazon is clearly a danger" to Costco and Walmart. He thinks that Whole Foods could extend the hours in which it allows customers to buy products online and pick them up in stores, and he thinks that food delivery could become much more popular in the wake of the deal. He notes that Wal-Mart has spent a great deal of time and money on "improving its fresh and omni-channel offerings." The analyst says that Costco will be more protected due to what he sees as its "differentiated retail experience."
06/19/17
COWN
06/19/17
NO CHANGE
Target $1125
COWN
Outperform
Amazon Prime the long-term driver of retail business, says Cowen
Cowen analyst John Blackledge said Amazon's (AMZN) Prime service is the long-term driver of its retail business and as they continuously improve their value proposition, it will drive higher Prime subscriptions and further market share gains. Those gains may have a negative impact on Costco (COST) and Sam's Club (WMT) as the warehouse clubs have seen opposite trends as Prime has increased subscriptions, added Blackledge, who reiterated his Outperform rating and $1,125 price target on Amazon.com shares.
06/16/17
06/16/17
DOWNGRADE

Neutral
Costco downgraded to Neutral from Conviction Buy at Goldman Sachs
As previously reported, Goldman downgraded Costco (COST) to Neutral from Conviction Buy and lowered its price target to $176 from $197. Analyst Matthew Fassler believes Costco's valuation will be capped due to Amazon's (AMZN) ongoing moves into consumables, online investments by Wal-Mart (WMT) and fading fundamental catalysts. He believes Amazon will offer superior pricing and delivery competency versus incumbents but does not anticipate meaningful erosion in warehouse business trends any time soon.
06/19/17
DBAB
06/19/17
DOWNGRADE
Target $172
DBAB
Hold
Costco downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Paul Trussell downgraded Costco (COST) to Hold and lowered his price target for the shares to $172 from $187. Positive pipeline catalysts have played out while competition is intensifying with Amazon.com (AMZN) and Wal-Mart (WMT) accelerating in-store and online efforts, Trussell tells investors in a research note titled "Past Its Prime? Downgrade to Hold." He believes Amazon's acquisition of Whole Foods (WFM) is a "game changer" for Costco's "competitive moat in grocery."
AMZN Amazon.com
$987.71

23.54 (2.44%)

06/19/17
KEYB
06/19/17
NO CHANGE
KEYB
Wal-Mart outlook still positive after Whole Foods deal, says KeyBanc
KeyBanc says that Wal-Mart (WMT) stock should be bought in the wake of the Whole Foods (WFM) deal, as the firm remains confident in Wal-Mart's ability to achieve 5%-9% earnings growth in fiscal 2018. The analyst says that the market shares of both Amazon and Wal-Mart have room to grow, and it believes that Amazon will continue to skew towards upper class Americans in the wake of the Whole Foods deal. The firm keeps a $90 price target and an Outperform rating on Wal-Mart.
06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Food retailers, distributors weakness overdone, says RBC Capital
RBC Capital analyst Bill Kirk says that the weakness in food retailers and distributors in reaction to Amazon's (AMZN) acquisition of Whole Foods (WFM) was overdone. The analyst says he doesn't expect Amazon to "drastically change" the prices in Whole Foods' physical stores. Instead, he expects it to exploit the company's brand through Prime and its "high-population density real estate." Other food retailers include Sprouts Farmers Market (SFM) and Kroger (KR), while Smart & Final Stores (SFS) and Supervalu (SVU) are food distributors.
06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Amazon.com logistics to get boost from Whole Foods deal, says RBC Capital
RBC Capital analyst Mark Mahaney says that the acquisition of Whole Foods (WFM) will provide Amazon (AMZN) with "shipping-to-home logistics" opportunities and " a way to increase the utilization of its delivery capacity."
WMT Wal-Mart
$75.01

-0.23 (-0.31%)

V Visa
$94.45

0.28 (0.30%)

04/21/17
OPCO
04/21/17
NO CHANGE
Target $100
OPCO
Outperform
Visa price target raised to $100 from $95 at Oppenheimer
Oppenheimer analyst Glenn Greene raised his price target for Visa to $100 from $95 after the company reported strong upside Q2 results. The analyst reiterates an Outperform rating on the shares.
04/21/17
FBCO
04/21/17
NO CHANGE
Target $105
FBCO
Outperform
Visa price target raised to $105 from $100 at Credit Suisse
Credit Suisse analyst Moshe Orenbuch raised his price target for Visa to $105 from $100 following a Q2 beat on higher revenues and lower taxes. The analyst reiterates an Outperform rating on the shares.
04/21/17
BERN
04/21/17
NO CHANGE
BERN
Visa price target raised to $110 from $105 at Bernstein
Bernstein analyst Lisa Ellis says that Visa reported "strong" results, and the analyst expects the stock's positive momentum to continue going forward. She raised her price target on the shares to $110 from $105 and continues to identify the stock as her top pick.
05/24/17
SBSH
05/24/17
NO CHANGE
Target $100
SBSH
Buy
Citi tells investors to stay long Visa
After hosting investor meetings with CFO Vasant Prabhu, Citi analyst Donald Fandetti tells investors to stay long Visa shares. The analyst expects the stock to "grind higher" into the June 22 investor day and would not be surprised to see another 2017 guidance raise. He keeps a Buy rating on Visa with a $100 price target.
AXP American Express
$81.57

0.12 (0.15%)

04/28/17
JEFF
04/28/17
NO CHANGE
Target $85
JEFF
Hold
American Express price target raised to $85 from $75 at Jefferies
Jefferies analyst John Hecht raised his price target for American Express to $85 after hosting investor meetings with management. The analyst is encouraged by the company's "continued progress in a post-Costco environment" but keeps a Hold rating on the shares.
05/19/17
WELS
05/19/17
NO CHANGE
WELS
Wells downgrades Credit Card sector on credit concerns
Wells Fargo analyst Jason Harbes downgraded his rating on the Credit Card space to Market Weight from Overweight after attending Card Forum 2017 in Austin, Texas. The analyst keeps Overweight ratings on Synchrony (SYF) and Discover (DFS) and Market Perform ratings on American Express (AXP) and Capital One (COF). Credit trends have recently deteriorated primarily due to weaker underwriting, Harbes tells investors in a research note. The analyst is also concerned about slowing receivables growth following an extended period of acceleration from 2012-2016. He lowered his price target for Synchrony to $30 from $35, for Discover to $70 from $80 and for Capital One to $85 from $88. The analyst keeps an $80 target on American Express.
05/19/17
WELS
05/19/17
NO CHANGE
WELS
Credit card sector lowered to Market Weight from Overweight at Wells Fargo
Wells Fargo cut its rating on the credit card sector to Market Weight from Overweight. The firm noted that the sector's net chargeoffs increased to 3.6% last quarter, representing a four year high. The firm is also worried about slowing receivables growth and increased competition in the space. Despite the downgrade, it continues to recommend Discover (DFS) and Synchrony (SYF). It lowered its price target on Discover to $70 from $80 and cut its price target on Synchrony to $30 from $35. It keeps Market Perform ratings on American Express (AXP) and Capital One (COF).
06/13/17
UBSW
06/13/17
NO CHANGE
Target $74
UBSW
Buy
Hilton price target raised to $74 from $64 at UBS
UBS analyst Robin Farley raised her price target on Hilton (HLT) to $74 from $64 following meetings with management. The analyst cited the renegotiation of a new credit card branding agreement with AmEx (AXP), current valuation, and the raising of unit growth estimates. Farley reiterated her Buy rating on Hilton shares.
WFM Bought by AMZN
$42.68

9.62 (29.10%)

06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Concerns over dollar stores 'way overdone,' says RBC Capital
RBC Capital analyst Scot Ciccarelli says that concerns about the dollar stores in the wake of the Whole Foods deal were "way overdone,." The analyst thinks that they compete in "a very different segment and customer base" than Whole Foods. Publicly traded dollar stores include Family Dollar (FDO) and Dollar General (DG).
06/19/17
PIVT
06/19/17
UPGRADE
Target $42
PIVT
Hold
Whole Foods upgraded to Hold from Sell at Pivotal Research

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FactSet

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SAVE

Spirit Airlines

$34.15

0.44 (1.31%)

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JBLU

JetBlue

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0.25 (1.34%)

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ALGT

Allegiant Travel

$133.95

3.85 (2.96%)

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AAL

American Airlines

$47.70

0.64 (1.36%)

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UAL

United Continental

$59.44

0.64 (1.09%)

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LUV

Southwest

$55.12

0.19 (0.35%)

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AMPH

Amphastar

$16.27

0.17 (1.06%)

, AVDL

Avadel Pharmaceuticals

$9.45

-0.16 (-1.66%)

18:59
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Hot Stocks
Amphastar announces FDA approval of Neostigmine Methylsulfate Injection, USP »

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Amphastar

$16.27

0.17 (1.06%)

AVDL

Avadel Pharmaceuticals

$9.45

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ACN

Accenture

$138.16

0.26 (0.19%)

18:58
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Accenture chief marketing & communications officer Taylor to retire Aug 31, 2018 »

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SPR

Spirit AeroSystems

$78.07

-0.38 (-0.48%)

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Boeing

$254.32

-2.13 (-0.83%)

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Spirit AeroSystems finalizes agreement with Boeing »

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MOH

Molina Healthcare

$64.54

-0.78 (-1.19%)

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UnitedHealth

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Senator Collins opposes Graham-Cassidy ACA repeal bill »

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Centene

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CI

Cigna

$181.44

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ANTM

Anthem

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HUM

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Aetna

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Breaking General news story  »

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CATM

Cardtronics

$26.10

-3.17 (-10.83%)

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IVTY

Invuity

$7.80

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18:10
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Invuity analyst commentary at Piper Jaffray »

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CBO: Graham-Cassidy ACA repeal bill to reduce number of insured by 'millions' »

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WellCare

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Cigna

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Anthem

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Genuine Parts

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AA

Alcoa

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Freeport McMoRan

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Alcoa, Freeport McMoRan, Teck Resources, Newmont Mining, Warrior Met Coal, Cleveland-Cliffs analyst commentary at Morgan Stanley »

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Teck Resources

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Newmont Mining

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Warrior Met Coal

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FTK

Flotek

$5.40

0.04 (0.75%)

17:49
09/25/17
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Earnings
Flotek cuts Q3 revenue view by $5M, consensus $90.9M »

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