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GRUB

GrubHub

$45.68

2.36 (5.45%)

, AMZN

Amazon.com

$987.71

23.54 (2.44%)

14:34
06/19/17
06/19
14:34
06/19/17
14:34

Wedbush names GrubHub as potential next target for Amazon

Research firm Wedbush hypothetized Monday that Amazon (AMZN) could look to acquire food delivery company GrubHub (GRUB) following its Whole Foods (WFM) deal. POSSIBLE AMAZON TARGET: In an investor note Monday, Wedbush's Aaron Turner argued that GrubHub "may be" Amazon's next acquisition target after Whole Foods. The ecommerce leader already tried an internally-developed delivery platform but achieved "minimal success." Meanwhile, GrubHub has continued to successfully expand into new markets and an acquisition would allow Amazon to dominate food delivery, Turner argues. The hypothetical merger would be a "nice complement" to the Whole Foods buy given their similar geographic and demographic overlap, the analyst contends, adding that Amazon could unlock synergies between GrubHub's infrastructure and, for example, its own grocery delivery push. Turner also believes it's "not insignificant" that GrubHub is already fully integrated with Amazon's Echo device, arguing that that relationship could help "grease the pan" for a potential takeover. Assuming a similar premium to Whole Foods, the analyst calls a deal price around $55 per share "well within the realm of possibility." Turner reiterates an Outperform rating and $50 target on GrubHub. PRICE ACTION: Shares of GrubHub are up 5.3% to $45.62 in afternoon trading.

GRUB

GrubHub

$45.68

2.36 (5.45%)

AMZN

Amazon.com

$987.71

23.54 (2.44%)

WFM

Bought by AMZN

$42.68

9.62 (29.10%)

GRUB GrubHub
$45.68

2.36 (5.45%)

06/15/17
06/15/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GrubHub (GRUB) initiated with a Market Perform at Wells Fargo. 2. Delphi (DLPH) initiated with an Outperform at Raymond James. 3. Arena Pharmaceuticals (ARNA) initiated with an Overweight at Cantor. 4. Arris (ARRS) initiated with a Buy at BTIG. 5. Celestica (CLS) reinstated with a Neutral at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/28/17
OPCO
04/28/17
NO CHANGE
Target $48
OPCO
Outperform
GrubHub price target raised to $48 from $42 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for GrubHub to $48 from $42 after the company reported better than expected Q1 results, which should dispel competition concerns. The analyst reiterates an Outperform rating on the shares.
05/22/17
ROTH
05/22/17
NO CHANGE
ROTH
Buy
Roth says Facebook headline risk may be greater than business impact on GrubHub
After Facebook (FB) rolled out of its "Order Food" button last week, Roth Capital analyst Darren Aftahi noted that the social media giant's initial partners, Slice and delivery.com, have smaller footprints than GrubHub (GRUB) and Yelp's (YELP) eat24, which leads him to believe that the headline risk may be greater than the business impact. However, he cautions that the thinks Facebook's ambition to become a full-service local directory platform increases long-term risk for Yelp. Aftahi keeps a Buy rating on GrubHub and a Sell rating on Yelp.
06/15/17
WELS
06/15/17
INITIATION
Target $45
WELS
Market Perform
GrubHub initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Peter Stabler started GrubHub with a Market Perform rating and $45 price target. The analyst sees growing competition and believes the current valuation adequately reflects GrubHub's "opportunity and leadership position."
AMZN Amazon.com
$987.71

23.54 (2.44%)

06/19/17
PIVT
06/19/17
NO CHANGE
Target $32
PIVT
Sell
Amazon could renegotiate or terminate United Natural contract, says Pivotal
Pivotal Research analyst Ajay Jain said regardless of the change of control provisions under United Natural Foods' (UNFI) contract with Whole Foods (WFM), there is no way to characterize the acquisition by Amazon (AMZN) as a non-event. Based on Albertson's United Foods contract cancellation in 2015, the analyst believes it will not be difficult for Amazon to renegotiate or terminate the United Natural Foods contract, if it so pleases. Jain said Whole Foods has more leverage over United Natural and the ability to demand further pricing concessions and will have more control over the supply chain through Amazon, making it unlikely the current agreement is truly binding. Jain rates United Natural Foods a Sell with a $32 price target.
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."
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.
WFM Bought by AMZN
$42.68

9.62 (29.10%)

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
PIVT
06/19/17
UPGRADE
Target $42
PIVT
Hold
Whole Foods upgraded to Hold from Sell at Pivotal Research

TODAY'S FREE FLY STORIES

GM

General Motors

$39.42

0.32 (0.82%)

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WFC

Wells Fargo

$54.25

0.19 (0.35%)

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EADSY

Airbus

$23.06

-0.01 (-0.04%)

11:27
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Airbus in talks to sell all or part of Premium Aerotec, Reuters says »

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DGX

Quest Diagnostics

$102.11

0.56 (0.55%)

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    Nov

IRBT

iRobot

$76.14

-3.8 (-4.75%)

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XLNX

Xilinx

$69.33

0.42 (0.61%)

, SNPS

Synopsys

$80.36

0.3 (0.37%)

10:47
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XLNX

Xilinx

$69.33

0.42 (0.61%)

SNPS

Synopsys

$80.36

0.3 (0.37%)

CDNS

Cadence Design

$38.88

0.45 (1.17%)

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    Sep

UTX

United Technologies

$115.01

0.51 (0.45%)

, COL

Rockwell Collins

$130.48

0.09 (0.07%)

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UTX

United Technologies

$115.01

0.51 (0.45%)

COL

Rockwell Collins

$130.48

0.09 (0.07%)

BA

Boeing

$256.45

0.41 (0.16%)

EADSY

Airbus

$23.06

-0.01 (-0.04%)

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  • 23

    Sep

GPRO

GoPro

$10.75

-0.19 (-1.74%)

10:33
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Key events may create 'short squeeze' in GoPro stock, Barron's says »

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HMC

Honda

$29.91

0.18 (0.61%)

, RACE

Ferrari

$113.47

-0.1 (-0.09%)

10:17
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HMC

Honda

$29.91

0.18 (0.61%)

RACE

Ferrari

$113.47

-0.1 (-0.09%)

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ORCL

Oracle

$48.16

0.19 (0.40%)

10:07
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Periodicals
Oracle shares could return 20% in a year, Barron's says »

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SIX

Six Flags

$58.96

1.14 (1.97%)

09:59
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Six Flags may have peaked, Barron's says »

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  • 28

    Sep

ONCE

Spark Therapeutics

$85.15

-1.95 (-2.24%)

, AVXS

AveXis

$92.11

-4.03 (-4.19%)

09:51
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ONCE

Spark Therapeutics

$85.15

-1.95 (-2.24%)

AVXS

AveXis

$92.11

-4.03 (-4.19%)

RGNX

Regenxbio

$28.25

-1.15 (-3.91%)

BOLD

Audentes Therapeutics

$27.31

-0.1 (-0.36%)

VYGR

Voyager Therapeutics

$17.50

-0.22 (-1.24%)

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AET

Aetna

$153.57

0.18 (0.12%)

, ANTM

Anthem

$182.86

-0.64 (-0.35%)

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Aetna

$153.57

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ANTM

Anthem

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CNC

Centene

$92.22

1.48 (1.63%)

CI

Cigna

$182.74

0.61 (0.33%)

HNT

Health Net

HUM

Humana

$239.09

0.45 (0.19%)

MOH

Molina Healthcare

$65.32

2.81 (4.50%)

UNH

UnitedHealth

$193.03

-2.18 (-1.12%)

WCG

WellCare

$167.16

1.1 (0.66%)

AOBC

American Outdoor Brands

$15.01

-0.15 (-0.99%)

RGR

Sturm, Ruger

$51.00

-1.85 (-3.50%)

WMT

Wal-Mart

$79.53

-0.48 (-0.60%)

PEP

PepsiCo

$111.85

-0.95 (-0.84%)

TGT

Target

$58.99

0.66 (1.13%)

AAPL

Apple

$151.89

-1.5 (-0.98%)

MSFT

Microsoft

$74.41

0.2 (0.27%)

AMZN

Amazon.com

$955.10

-9.55 (-0.99%)

TWTR

Twitter

$17.61

0.03 (0.17%)

GOOGL

Alphabet Class A

$943.26

-4.29 (-0.45%)

GOOG

Alphabet

$928.53

-3.92 (-0.42%)

FB

Facebook

$170.54

-0.57 (-0.33%)

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AVA

Avista

$51.40

0.1 (0.19%)

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BMWYY

BMW

$34.00

0.083 (0.24%)

18:40
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BMW to build new 8 series in Dingolfing from 2018, Reuters reports »

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CSCO

Cisco

$33.37

0.67 (2.05%)

18:20
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Cisco completes acquisition of Springpath »

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BMY

Bristol-Myers

$63.36

0.03 (0.05%)

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Bristol-Myers announces FDA approval of Opdivo »

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INSE

Inspired Entertainment

$13.60

0.3 (2.26%)

17:38
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Inspired Entertainment COO Wilson leaving by reason of redundancy »

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  • 28

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MNOV

MediciNova

$6.18

0.3 (5.10%)

17:30
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Breaking Syndicate news story on MediciNova »

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  • 26

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ISRG

Intuitive Surgical

$1,031.52

1.31 (0.13%)

17:25
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Conference/Events
Intuitive Surgical to host special shareholder meeting »

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  • 22

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GD

General Dynamics

$205.41

-0.31 (-0.15%)

17:21
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General Dynamics Electric Boat awarded $341.2M government contract modification »

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CHRS

Coherus Biosciences

$12.85

0.3 (2.39%)

17:19
09/22/17
09/22
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17:19
Syndicate
Breaking Syndicate news story on Coherus Biosciences »

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  • 25

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FIBK

First Interstate

$36.90

0.3 (0.82%)

17:18
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17:18
Syndicate
First Interstate files to sell $250M of Class A common stock »

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NRCIA

National Research, also tag NRCIB

$37.45

0.55 (1.49%)

, NRCIB

National Research, also tag NRCIA

$54.30

0.31 (0.57%)

17:08
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National Research, also tag NRCIB

$37.45

0.55 (1.49%)

NRCIB

National Research, also tag NRCIA

$54.30

0.31 (0.57%)

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CC

Chemours

$51.79

-0.16 (-0.31%)

, HON

Honeywell

$141.75

0.89 (0.63%)

16:58
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Chemours files appeal concerning SNAP 20 rule to regulate HFCs »

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CC

Chemours

$51.79

-0.16 (-0.31%)

HON

Honeywell

$141.75

0.89 (0.63%)

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