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APRN

Blue Apron

$6.73

-0.63 (-8.56%)

, AMZN

Amazon.com

$1,001.81

1.18 (0.12%)

10:55
07/17/17
07/17
10:55
07/17/17
10:55

Street Check: Analyst made prescient call on Blue Apron ahead of Amazon report

The shares of Blue Apron (APRN) are sliding following a media report saying Amazon (AMZN) has filed a trademark that makes it appear the e-commerce giant is getting into the meal kit business. In a note to investors last week, Northcoast analyst Chuck Cerankosky initiated coverage of the recently public Blue Apron with a Sell rating, saying he sees the company facing considerable competition. The Fly published a summary of Northcoast's note on the day it was circulated. MEAL KIT BUSINESS: Amazon has filed a trademark to get into the meal kit business, according to a report by TheStreet. Amazon Technologies revealed in the July 6 trademark application that it is planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings. SELL BLUE APRON: In a research note to investor on July 11, Northcoast's Cerankosky started Blue Apron with a Sell rating and a $2 price target. While he pointed out that Blue Apron produces and markets "high-quality, convenience-oriented fresh food" in the form of recipe-ready meal kits, the company faces considerable competition, not the least of which is the emerging focus at certain conventional supermarkets to sell meal kits. Blue Apron is not a technology company just because orders are received digitally, Cerankosky noted, adding that the company's cost structure has a very high labor content due to the need to hand assemble various food ingredients for each order into boxes that include ice packs, alongside shipping costs. PRICE ACTION: In morning trading, shares of Blue Apron have dropped about 9% to $6.72. Blue Apron, which made its initial public offering June 29 on the New York Stock Exchange, opened at $10 per share and closed at $10.02 on that day.

APRN

Blue Apron

$6.73

-0.63 (-8.56%)

AMZN

Amazon.com

$1,001.81

1.18 (0.12%)

  • 27

    Jul

  • 10

    Aug

APRN Blue Apron
$6.73

-0.63 (-8.56%)

AMZN Amazon.com
$1,001.81

1.18 (0.12%)

07/17/17
ROTH
07/17/17
NO CHANGE
Target $55
ROTH
Buy
GrubHub price target raised to $55 from $47 at Roth Capital
Roth Capital analyst Darren Aftahi raised his price target for GrubHub (GRUB) to $55 from $47 saying that despite Amazon's (AMZN) expansion into restaurant delivery, near-term risk may be overstated as only about 3.8% of his survey respondents use it in comparison to the former's 20.3% response rate. The analyst reiterates a Buy rating on the shares.
07/17/17
UBSW
07/17/17
NO CHANGE
Target $1200
UBSW
Buy
Amazon.com price target raised to $1,200 from $1,100 at UBS
UBS analyst Eric Sheridan raised his price target on Amazon.com to $1,200 from $1,100 to reflect its long-tailed opportunities, including Prime membership, which has increased shopping velocity among members. Sheridan, who reiterated his Buy rating on Amazon shares, also cites its advertising opportunity, cloud computing penetration, and third-party mix in its core retail operations.
06/30/17
RBCM
06/30/17
NO CHANGE
RBCM
Amazon.com lead over online competitors increasing, says RBC Capital
After RBC Capital conducted a survey of 2000 U.S. online shoppers, RBC Capital analyst Mark S.F. Mahaney says that a record 93% chose Amazon as their favorite online shopping site. Amazon had a 75 point lead on selection and a 68 point lead on convenience. He noted that only 7% have purchased groceries on Amazon but 13% plan to do so. Mahaney keeps a $1,100 price target and an Outperform rating on Amazon.
06/28/17
OPCO
06/28/17
DOWNGRADE
OPCO
Perform
Whole Foods downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Rupesh Parikh downgraded Whole Foods (WFM) to Perform from Outperform, stating that while he believes Amazon's (AMZN) buyout price undervalues the company, it now appears less likely a strategic player will make a new bid.

TODAY'S FREE FLY STORIES

HK

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JBL

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EVTCY

Evotec

$51.15

2.3099 (4.73%)

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Conference/Events
Evotec management to meet with Deutsche Bank »

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GPRO

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07:30
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Options
Unusual put flow in option market yesterday »

Notable put activity was…

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CARB

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$22.30

-0.5 (-2.19%)

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  • 02

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NEWS

NewStar Financial

$12.13

0.23 (1.93%)

07:30
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Hot Stocks
Breaking Hot Stocks news story on NewStar Financial »

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JRVR

James River Group

$41.95

-0.08 (-0.19%)

07:27
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Initiation
James River Group initiated  »

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MDB

MongoDB

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Syndicate
MongoDB IPO deal range increased to $20.00-$22.00 »

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NFLX

Netflix

$202.68

3.19 (1.60%)

07:26
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PSX

Phillips 66

$90.87

-3.56 (-3.77%)

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  • 27

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VZ

Verizon

$48.09

0.23 (0.48%)

07:25
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Periodicals
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VLO

Valero

$77.42

-0.66 (-0.85%)

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SNDX

Syndax

$12.76

0.39 (3.15%)

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IMDZ

Immune Design

$10.10

-0.85 (-7.76%)

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CVS

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CVS

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$72.44

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Conference/Events
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  • 17

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IPXL

Impax

$19.95

-0.85 (-4.09%)

07:24
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  • 09

    Nov

ANDV

Andeavor

$103.82

-1.55 (-1.47%)

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Recommendations
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TCMD

Tactile Systems

$30.87

-1.05 (-3.29%)

07:23
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Initiation
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  • 07

    Nov

AGN

Allergan

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  • 20

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GRPN

Groupon

$4.70

0.07 (1.51%)

07:22
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Initiation
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  • 01

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FANG

Diamondback Energy

$102.60

1.23 (1.21%)

07:21
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