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HD

Home Depot

$152.68

2.5128 (1.67%)

, MYL

Mylan

$30.13

0.5 (1.69%)

10:37
08/16/17
08/16
10:37
08/16/17
10:37

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: Home Depot (HD) upgraded to Outperform from Market Perform at Raymond James with analyst Budd Bugatch saying the company continues to execute at a "world-class level." 2. Mylan (MYL) upgraded to Buy from Neutral at Citi with analyst Liav Abraham saying the company is best positioned to execute in a challenging operating environment for generics. 3. Biogen (BIIB) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Terence Flynn saying he continues to see optionality Aducanumab, its lead pipeline Alzheimer's drug. 4. Zions Bancorp (ZION) upgraded to Buy from Neutral at BofA/Merrill with analyst Erika Najarian saying she believes investors are discounting two catalysts for earnings upside including benefits from regulatory reform for regionals and continued improvement in expense management. 5. Paychex (PAYX) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Danyal Hussain saying expectations adequately capture downside risks and the valuation premium is the lowest since 2008. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

HD

Home Depot

$152.68

2.5128 (1.67%)

MYL

Mylan

$30.13

0.5 (1.69%)

BIIB

Biogen

$287.92

1.87 (0.65%)

ZION

Zions Bancorp

$45.13

0.14 (0.31%)

PAYX

Paychex

$55.59

0.67 (1.22%)

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HD Home Depot
$152.68

2.5128 (1.67%)

08/16/17
STFL
08/16/17
NO CHANGE
STFL
Home Depot guidance 'conservative,' says Stifel
Stifel analyst John Baugh says that Home Depot's Q2 results were "solid" and calls its 2H17 guidance "conservative." The analyst raised his estimates for the company and keeps a Buy rating on the stock.
08/15/17
BOFA
08/15/17
NO CHANGE
BOFA
Home Depot shares defended at BofA/Merrill
08/16/17
SBSH
08/16/17
NO CHANGE
Target $179
SBSH
Buy
Home Depot selloff yesterday a buying opportunity, says Citi
Citi analyst Kate McShane views yesterday's post-earnings selloff in shares of Home Depot as a buying opportunity. The company represents one of the last consistent mid-single-digit compers in Broadlines/Hardlines, McShane tells investors in a research note. She expects Home Depot to continue benefiting from home price appreciation and increasing household formation. The analyst keeps a Buy rating on the shares with a $179 price target.
08/16/17
RAJA
08/16/17
UPGRADE
Target $165
RAJA
Outperform
Home Depot upgraded to Outperform from Market Perform at Raymond James
Raymond James analyst Budd Bugatch upgraded Home Depot to Outperform from Market Perform and established a $165 price target following the Q2 report saying the company continues to execute at a "world-class level." Bugatch said shares are trading slightly below its 3-5 year median and believes a more constructive rating is warranted.
MYL Mylan
$30.13

0.5 (1.69%)

08/16/17
SBSH
08/16/17
UPGRADE
Target $42
SBSH
Buy
Mylan upgraded to Buy from Neutral at Citi
Citi analyst Liav Abraham upgraded Mylan (MYL) to Buy and raised her price target for the shares to $42 from $36. The company is best positioned to execute in a challenging operating environment for generics, Abraham tells investors in a research note. Mylan has a "differentiated and durable" generics product portfolio, "broad pipeline" of complex generics/ biosimilars and a more favorable balance sheet profile relative to peers, the analyst contends. She has Neutral ratings on Teva (TEVA) and Endo (ENDP).
08/16/17
SBSH
08/16/17
DOWNGRADE
Target $19
SBSH
Neutral
Teva downgraded to Neutral from Buy at Citi
Citi analyst Liav Abraham downgraded Teva Pharmaceutical (TEVA) to Neutral and cut her price target for the shares to $19 from $32. The analyst this morning also upgraded Mylan (MYL) to Buy. Teva is "cheap, but not cheap enough," Abraham tells investors in a research note. She needs to see the appointment of a "respected" CEO and formulation of a credible long-term strategy as well as improvement in the credit situation before getting more constructive on Teva shares.
08/09/17
BMOC
08/09/17
NO CHANGE
BMOC
Outperform
Mylan generic push outs 'disappointing, but not surprising,' says BMO Capital
BMO Capital analyst Gary Nachman said expectations for Mylan have been "very low" even before the company reported on its "challenging" second quarter. While the push out of generic Advair and Copaxone into 2018 is a disappointment, he believes this possibility has been the consensus view among investors. Nachman maintains an Outperform rating on Mylan shares.
08/10/17
COWN
08/10/17
NO CHANGE
Target $30
COWN
Market Perform
Cowen recommends investors seek better alternatives to Mylan
Cowen analyst Ken Cacciatore updated his Mylan model following underwhelming Q2 results. The analyst noted management lowered guidance meaningfully to reflect current operations. He said he has little faith in the company's ability to get complex products approved or make favorable operational and business development decisions and thus recommend investors look for better alternatives. Cacciatore maintained his Market Perform rating and lowered his price target to $30 from $43 on Mylan shares.
BIIB Biogen
$287.92

1.87 (0.65%)

07/26/17
LEER
07/26/17
NO CHANGE
Target $338
LEER
Market Perform
Biogen price target raised to $338 from $304 at Leerink
Leerink analyst Geoffrey Porges raised his price target for Biogen to $338 from $304 after the company reported better than expected Q2 results. While he notes that the Spinraza launch continues to beat expectations, Porges points out that management's cautious commentary about the U.S. market has left investors struggling to forecast the eventual revenue slowdown in the product's trajectory. The analyst reiterates Market Perform rating on the shares.
07/26/17
07/26/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Hold from Underperform at Jefferies with analyst Andy Barish saying the current valuation and consensus estimates "now reflect the reality" of Chipotle's path to recovery. 2. Biogen (BIIB) upgraded to Buy from Neutral at Goldman Sachs with analyst Terence Flynn saying the company's balance sheet is under-levered, which provides flexibility, while Aducanumab provides Alzheimer's optionality. 3. DSW (DSW) upgraded to Outperform from Neutral at Wedbush with the firm saying it is more confident that second quarter results will beat expectations and that the company will reiterate its full-year guidance after conducting checks and speaking with the company. 4. Electronic Arts (EA) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post citing a strong fiscal 2019 outlook. 5. Novartis (NVS) upgraded to Overweight from Underweight at Morgan Stanley with analyst Vincent Meunier upgrading the company two notches to Overweight from Underweight following a "massive" reset in consensus expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/16/17
GSCO
08/16/17
UPGRADE
Target $338
GSCO
Conviction Buy
Biogen upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman analyst Terence Flynn added Biogen to the Conviction Buy List and maintained a $338 price target saying he continues to see optionality Aducanumab, its lead pipeline Alzheimer's drug. He expects Phase 3 data in Q4 2019/Q1 2020 saying it could be the first disease modifying drugs on the market with a peak sales estimated at $12B. Further, the analyst views MS competition concerns as overdone and said the balance sheet is relatively under-levered.
07/26/17
BERN
07/26/17
NO CHANGE
BERN
All of Biogen's key drugs performed well last quarter, says Bernstein
Bernstein analyst Aaron Gal says that all of Biogen's key drugs had high prescribing rates last quarter. The analyst says that concerns about the company's Spinraza drug are misplaced as it did well last quarter and is getting better coverage from payers. He thinks that opportunities in neurology justify the company's investment in this area. Gal keeps a $310 price target and an Outperform rating on the shares.
ZION Zions Bancorp
$45.13

0.14 (0.31%)

08/16/17
BOFA
08/16/17
UPGRADE
Target $52
BOFA
Buy
Zions Bancorp upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Erika Najarian upgraded Zions Bancorp to Buy and increased its price target to $52 from $50 following an "upbeat" management meeting. The analyst believes investors are discounting two catalysts for earnings upside including benefits from regulatory reform for regionals and continued improvement in expense management. Additionally, he expects large short interest in shares to be a tailwind.
08/09/17
WELS
08/09/17
INITIATION
Target $56
WELS
Outperform
Zions Bancorp initiated with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo started Zions Bancorp with an Outperform rating and $56 price target.
08/07/17
BARD
08/07/17
DOWNGRADE
BARD
Underperform
Zions Bancorp downgraded to Underperform from Neutral at Baird
06/05/17
MSCO
06/05/17
NO CHANGE
MSCO
Midcap Bank sector upgraded to In-Line at Morgan Stanley
Morgan Stanley analyst Ken Zerbe upgraded the Midcap Bank sector to In-Line from Cautious citing the group's underperformance year-to-date and better earnings from lower deposit betas. The firm's top picks are SVB Financial (SIVB), Signature Bank (SBNY), KeyBanc (KEY), and Citizens Financial (CFG). Note the analyst upgraded People's United (PBCT) and Prosperity Bancshares (PB) to Equal Weight citing valuations.
PAYX Paychex
$55.59

0.67 (1.22%)

07/21/17
WBLR
07/21/17
DOWNGRADE
WBLR
Market Perform
Paychex downgraded to Market Perform from Outperform at William Blair
William Blair analyst Timothy McHugh downgraded Paychex (PAYX) to Market Perform citing his updated industry model. The analyst this morning also downgraded ADP (ADP) to Market Perform.
08/16/17
08/16/17
UPGRADE
Target $55

Equal Weight
Paychex upgraded to Equal Weight on valuation at Morgan Stanley
As previously reported, Morgan Stanley upgraded Paychex to Equal Weight from Underweight with a $55 price target. Analyst Danyal Hussain said expectations adequately capture downside risks and the valuation premium is the lowest since 2008.
08/16/17
MSCO
08/16/17
UPGRADE
MSCO
Equal Weight
Paychex upgraded to Equal Weight from Underweight at Morgan Stanley
07/27/17
BARD
07/27/17
NO CHANGE
Target $95
BARD
Neutral
Baird sees Ackman revisting prior play book at ADP
Baird analyst Mark Marcon noted that Bill Ackman previously owned a position in ADP (ADP) from 2009-2011 and agitated for changes that included rationalizing its balance sheet and spinning off non-core businesses, followed by the company spinning off CDK and buying back stock. With Ackman now reportedly back in the stock, he expects a renewal of the play book, but believes shareholder value enhancement from buy backs would be "modest" given the stock's current level. "Ironically," ADP also suggested competitive wins against Paychex (PAYX) on its earnings call today, but that stock is also rising following the Ackman news, Marcon said. He keeps a Neutral rating on ADP shares.

TODAY'S FREE FLY STORIES

OFIX

Orthofix

$47.73

-0.78 (-1.61%)

11:58
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Lilis Energy

$3.99

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$18.03

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Put buyers active in Marvell as shares tick higher »

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$373.91

-1.19 (-0.32%)

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FANG

Diamondback Energy

$97.32

3.04 (3.22%)

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FINL

Finish Line

$9.43

-0.13 (-1.36%)

11:40
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Large spread in Finish Line ahead of earnings »

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SQ

Square

$28.24

-0.23 (-0.81%)

, INTC

Intel

$37.07

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INTC

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$37.07

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WASH

Washington Trust

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UNCFF

UniCredit

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0.28 (2.20%)

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OIH

Oil Services Holders Trust

$24.86

-0.33 (-1.31%)

11:30
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ICPT

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SHOR

ShoreTel

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EFX

Equifax

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GLNG

Golar LNG

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$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

11:16
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NYSE market internals summary »

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COF

Capital One

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11:15
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PEG

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