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MDLZ

Mondelez

$43.86

0.16 (0.37%)

, WFM

Bought by AMZN

$41.79

-0.07 (-0.17%)

11:22
08/16/17
08/16
11:22
08/16/17
11:22

Pershing Square: ADP has similar downside risk as Air PRoducts

Pershing Square's Bill Ackman said on the Q2 earnings call that Mondelez (MDLZ) has been hit unfairly by Whole Foods (WFM) sale, and that growth has been hurt by sales in Brazil, Middle East. Ackman also commented that ADP (ADP) has similar downside risk as Air Products (APD), similar upside as CP Rail (CP).

MDLZ

Mondelez

$43.86

0.16 (0.37%)

WFM

Bought by AMZN

$41.79

-0.07 (-0.17%)

ADP

ADP

$111.58

1.89 (1.72%)

APD

Air Products

$147.57

0.76 (0.52%)

CP

Canadian Pacific

$155.70

0.32 (0.21%)

  • 16

    Aug

  • 17

    Aug

  • 23

    Aug

  • 23

    Aug

  • 24

    Aug

  • 25

    Sep

MDLZ Mondelez
$43.86

0.16 (0.37%)

08/03/17
WELS
08/03/17
NO CHANGE
WELS
Mondelez new CEO 'unconventional' but can 'inject fresh ideas,' says Wells Fargo
After Mondolez announced that its CEO would resign and named Dirk Van de Put as her successor, Wells Fargo calls the choice "unconventional." However, the firm thinks that, as an outsider, he will be able to "inject fresh ideas." Wells keeps an Outperform rating on the shares.
06/19/17
FBCO
06/19/17
NO CHANGE
FBCO
Hershey buy of Nestle assets could be type of 'poison pill,' says Credit Suisse
Credit Suisse analyst Robert Moskow analyzed several scenarios after Nestle's (NSRGY) recent announcement of a strategic review of its U.S. confectionery business. Buying Nestle candy would double Mondelez's (MDLZ) U.S. market share to 10%, but Moskow wonders if such a deal could compromise Mondelez' ability to eventually buy Hershey (HSY) at a later date. As for the latter, Hershey would generate "massive" synergies of 9% of sales and the deal could work as a type of "poison pill" to deter a bid from Mondelez or Kraft Heinz (KHC), said Moskow. However, he doesn't think Hershey would want to buy an asset that would dilute its topline growth rate at this point. He added that he sees "little to no chance" of Lindt, the number three in U.S. candy, being interested in Nestle's assets.
07/25/17
PIPR
07/25/17
UPGRADE
Target $49
PIPR
Overweight
Mondelez upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery upgraded Mondelez to Overweight and raised his price target for the shares to $49 from $48. Favorable sugar and cocoa costs provide a boost to margins, Lavery tells investors in a research note. The analyst expects the company's cash build will be applied to buybacks.
07/25/17
07/25/17
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. Mondelez (MDLZ) upgraded to Overweight from Neutral at Piper Jaffray with analyst Michael Lavery saying favorable sugar and cocoa costs provide a boost to margins. 2. Big Lots (BIG) upgraded to Buy from Hold at Deutsche Bank analyst Paul Trussell saying the current valuation is "compelling" given the disconnect between the company's "impressive" operating profit growth and multiple. 3. Werner (WERN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ken Hoexter saying truckload utilization and rates are turning positive. 4. Atlassian (TEAM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Sanjit Singh saying has increased confidence in expansion trends of the user base and said there are clear signs of pricing power, supporting 30% topline growth and 40% free cash flow CAGR over the next 3 years. 5. DSW (DSW) upgraded to Buy from Hold at Deutsche Bank with analyst Paul Trussell saying the shares offer an "intriguing non-apparel value play." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
WFM Bought by AMZN
$41.79

-0.07 (-0.17%)

08/01/17
PIPR
08/01/17
NO CHANGE
Target $1200
PIPR
Overweight
Piper survey shows 16% plan to use grocery delivery in 2017
Piper Jaffray analyst Michael Olson says his firm's survey of 1,366 consumers suggests 16% of adult consumers expect to use a grocery delivery service in 2017. Amazon.com (AMZN) is well positioned to capture market share, through both the company's existing initiatives and the Whole Foods (WFM) acquisition, Olson tells investors in a research note. The analyst recommends buying shares of Amazon.com on the recent weakness. He believes selloffs around margin-related misses can prove to be good buying opportunities. Olson keeps an Overweight rating on Amazon with a $1,200 price target. The shares closed yesterday down 3%, or $32.26, to $987.78.
07/11/17
WELS
07/11/17
DOWNGRADE
Target $42
WELS
Market Perform
Whole Foods downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Zachary Fadem downgraded Whole Foods Market (WFM) to Market Perform saying a competing takeover bid to Amazon's (AMZN) is a "very low probability." The analyst lowered his price target for the shares to $42 from $45. Sprouts Farmers Market (SFM) is Fadem's top pick in grocery.
07/19/17
JEFF
07/19/17
NO CHANGE
JEFF
Jefferies lays out stocks 'overly discounting' Amazon risk
Amazon.com's (AMZN) planned purchase of Whole Foods Market (WFM) has further widened the valuation spread between consumer stocks the market views as resistant to the Aamzon threat and those viewed as vulnerable, Jefferies analysts including Andy Barish and Daniel Binder tells investors in a research note. They believe this dynamic has created opportunities. Specifically, the analysts feel shares of Wal-Mart (WMT), Hain Celestial (HAIN), Foot Locker (FL) and Advance Auto Parts (AAP) are "overly discounting" potential risk from Amazon. Jefferies also believes Casey's General Stores (CASY), Lamb Weston (LW), Murphy USA (MUSA), Monster Beverage (MNST), Starbucks (SBUX) and Ulta Beauty (ULTA) are "well insulated" from Amazon disruption.
08/07/17
TIGR
08/07/17
DOWNGRADE
TIGR
Neutral
Whole Foods downgraded to Neutral from Buy at Tigress Financial
Tigress Financial analyst Ivan Feinseth downgraded Whole Foods Market (WFM) saying he sees no other takeover bids emerging to rival Amazon.com's (AMZN).
ADP ADP
$111.58

1.89 (1.72%)

08/03/17
MSCO
08/03/17
DOWNGRADE
MSCO
Underweight
ADP downgraded to Underweight from Equal Weight at Morgan Stanley
08/14/17
STFL
08/14/17
NO CHANGE
Target $108
STFL
Hold
Stifel analysis suggests ADP's margins are 'reasonable'
Stifel analyst David Grossman says that while he looks forward to Pershing Square's presentation Thursday, his analysis suggests ADP's margins are "reasonable" based on its business model and current mix of business. Management and the board has worked hard to balance growth and profitability against stability, Grossman tell investors in a research note partially titled, "They May Have a Case, Though Not Immediately Obvious to Us." The analyst believes any effort to improve margins will need to be viewed in the context of that trade-off. He also questions how much near-term opportunity has already been priced in the shares post Pershing's involvement. Grossman has a Hold rating on ADP with a $108 price target.
08/16/17
JPMS
08/16/17
NO CHANGE
Target $99
JPMS
Neutral
ADP 'reasonably priced' ahead of Pershing webcast, says JPMorgan
JPMorgan analyst Tien-tsin Huang views ADP as "reasonably priced" ahead of Pershing Sqaure's activist webcast tomorrow morning. Pershing's involvement, however, could be a "net win" for the company longer-term, Huang tells investors in a research note. The analyst keeps a Neutral rating on ADP with a $99 price target.
08/03/17
08/03/17
DOWNGRADE
Target $100

Underweight
ADP downgraded to Underweight at Morgan Stanley
As previously reported, Morgan Stanley downgraded ADP to Underweight from Equal Weight and raised its price target to $100 from $98. Analyst Danyal Hussain said there are not quick "fixes" to ADP's strategy, even with an activist investor, as margin expansion opportunities are limited and notes the stock has been pricing in improving fundamentals, which are likely to disappoint.
APD Air Products
$147.57

0.76 (0.52%)

08/07/17
VERT
08/07/17
UPGRADE
Target $146
VERT
Hold
Air Products upgraded to Hold from Sell at Vertical Research
Vertical Research analyst Kevin McCarthy upgraded Air Products to Hold and raised its price target to $146 saying he is taking a more constructive view given Q3 accelerated volume grwoth, a best-in-class balance sheet, benefits from a weaker US dollar, synergies from the pending mergers of Praxair and Linde, and industrial gas exposure.
08/02/17
FBCO
08/02/17
NO CHANGE
Target $158
FBCO
Outperform
Air Products price target raised to $158 from $153 at Credit Suisse
Credit Suisse analyst Christopher Parkinson raised his price target for Air Products to $158 from $153 after the company posted a Q3 beat on strong volumes. The analyst reiterates an Outperform rating on the shares.
05/01/17
DBAB
05/01/17
UPGRADE
Target $160
DBAB
Buy
Air Products upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst David Begleiter upgraded Air Products to Buy and raised his price target for the shares to $160 from $148. The analyst finds the risk/reward attractive after CEO Seifi Ghasemi reaffirmed his commitment last week to deploying $8B in capital over the next four years. The CEO expressed a high degree of confidence in deploying the capital into high return industrial gas assets rather than lower return share buybacks, Begleiter tells investors in a research note.
02/13/17
EVER
02/13/17
INITIATION
Target $131
EVER
Sell
Air Products initiated with a Sell at Evercore ISI
Evercore ISI analyst Laurent Favre initiated Air Products with a Sell and a $131 price target.
CP Canadian Pacific
$155.70

0.32 (0.21%)

07/11/17
STFL
07/11/17
NO CHANGE
STFL
Canadian Pacific price target raised to $184 from $167 at Stifel
Stifel analyst John Larkin raised his price target on Canadian Pacific citing "improving carload data across the rail group" and "the strengthening industrial economy." He keeps a Buy rating on the stock.
07/13/17
FBCO
07/13/17
NO CHANGE
Target $183
FBCO
Outperform
Canadian Pacific price target raised to $183 from $178 at Credit Suisse
Credit Suisse analyst Allison Landry raised her price target for Canadian Pacific to $183 from $178 on valuation. The analyst reiterates an Outperform rating on the shares.
08/07/17
WOLF
08/07/17
DOWNGRADE
WOLF
Peer Perform
Canadian Pacific downgraded to Peer Perform from Outperform at Wolfe Research
Wolfe analyst Scott Group downgraded Canadian Pacific to Peer Perform due to continued competition between Canadian rails, which will limit pricing and margin upside.
04/21/17
LOOP
04/21/17
DOWNGRADE
LOOP
Hold
Canadian Pacific downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Rick Paterson downgraded Canadian Pacific (CP) to Hold from Buy based on his view that the company's pivot to growth will take longer than widely thought, as it may take a while to win business away from Canadian National (CNI). However, Paterson raised his price target on Canadian Pacific shares to C$215 from C$210.

TODAY'S FREE FLY STORIES

OFIX

Orthofix

$47.73

-0.78 (-1.61%)

11:58
09/21/17
09/21
11:58
09/21/17
11:58
Conference/Events
Orthofix management to meet with SunTrust »

Meeting to be held in…

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  • 21

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LLEX

Lilis Energy

$3.99

-0.03 (-0.75%)

11:56
09/21/17
09/21
11:56
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11:56
Conference/Events
Lilis Energy management to meet with SunTrust »

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  • 21

    Sep

  • 25

    Sep

11:55
09/21/17
09/21
11:55
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11:55
General news
Treasury Action: month- and quarter-end are quickly sneaking up »

Treasury Action: month-…

ICFI

ICF International

$50.95

-0.25 (-0.49%)

11:54
09/21/17
09/21
11:54
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11:54
Conference/Events
ICF International management to meet with SunTrust »

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  • 21

    Sep

CRZBY

Commerzbank

$13.02

0.28 (2.20%)

, BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

11:53
09/21/17
09/21
11:53
09/21/17
11:53
Periodicals
German government is favoring Commerzbank-BNP Paribas merger, CNBC says »

The German government is…

CRZBY

Commerzbank

$13.02

0.28 (2.20%)

BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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MRVL

Marvell

$18.03

-0.12 (-0.66%)

11:50
09/21/17
09/21
11:50
09/21/17
11:50
Options
Put buyers active in Marvell as shares tick higher »

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  • 05

    Oct

TSLA

Tesla

$373.91

-1.19 (-0.32%)

11:48
09/21/17
09/21
11:48
09/21/17
11:48
Periodicals
Tesla to stop selling cheapest Model S this weekend, Business Insider says »

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  • 02

    Oct

FANG

Diamondback Energy

$97.32

3.04 (3.22%)

11:45
09/21/17
09/21
11:45
09/21/17
11:45
Hot Stocks
Diamondback Energy EVP Molnar sells 5,000 shares »

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FINL

Finish Line

$9.43

-0.13 (-1.36%)

11:40
09/21/17
09/21
11:40
09/21/17
11:40
Options
Large spread in Finish Line ahead of earnings »

Large spread in Finish…

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  • 22

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11:40
09/21/17
09/21
11:40
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11:40
General news
Oil Action: NYMEX crude »

Oil Action: NYMEX crude…

SQ

Square

$28.24

-0.23 (-0.81%)

, INTC

Intel

$37.07

-0.16 (-0.43%)

11:32
09/21/17
09/21
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11:32
Hot Stocks
Square names Intel's Naveen Rao to board »

Square (SQ) announced…

SQ

Square

$28.24

-0.23 (-0.81%)

INTC

Intel

$37.07

-0.16 (-0.43%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

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    Sep

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    Sep

  • 05

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    Oct

WASH

Washington Trust

$53.05

0.15 (0.28%)

11:31
09/21/17
09/21
11:31
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11:31
Hot Stocks
Washington Trust increases quarterly dividend by 1c »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

, CRZBY

Commerzbank

$13.02

0.28 (2.20%)

11:30
09/21/17
09/21
11:30
09/21/17
11:30
Periodicals
UniCredit expresses interest in Commerzbank merger, Reuters reports »

UniCredit recently…

UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

CRZBY

Commerzbank

$13.02

0.28 (2.20%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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OIH

Oil Services Holders Trust

$24.86

-0.33 (-1.31%)

11:30
09/21/17
09/21
11:30
09/21/17
11:30
Options
Short-term call buyers drilling for profits in Market Vectors Oil Services Fund »

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ICPT

Intercept

$98.12

1.92 (2.00%)

11:29
09/21/17
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11:29
Hot Stocks
Intercept sinks after FDA safety communication cites 19 patient deaths »

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SHOR

ShoreTel

11:25
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11:25
Hot Stocks
Breaking Hot Stocks news story on ShoreTel »

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EFX

Equifax

$97.46

1.46 (1.52%)

11:25
09/21/17
09/21
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11:25
Periodicals
Equifax CEO to testify to Senate panel on October 4, Bloomberg says »

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  • 22

    Oct

FSLR

First Solar

$48.85

-0.01 (-0.02%)

, SPWR

SunPower

$7.86

-0.51 (-6.09%)

11:24
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Hot Stocks
Before the Move: Watch First Solar, others ahead of ITC decision »

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FSLR

First Solar

$48.85

-0.01 (-0.02%)

SPWR

SunPower

$7.86

-0.51 (-6.09%)

CSIQ

Canadian Solar

$16.02

-0.69 (-4.13%)

JKS

JinkoSolar

$26.13

-0.16 (-0.61%)

03/08/13
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GLNG

Golar LNG

$21.15

0.66 (3.22%)

11:20
09/21/17
09/21
11:20
09/21/17
11:20
Options
Golar LNG calls active as shares see relative strength »

Golar LNG calls active as…

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$NSD

NASDAQ Market Internals

11:17
09/21/17
09/21
11:17
09/21/17
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

11:16
09/21/17
09/21
11:16
09/21/17
11:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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03/06/13
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03/06/13
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COF

Capital One

$81.16

-0.64 (-0.78%)

11:15
09/21/17
09/21
11:15
09/21/17
11:15
Options
Capital One put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 22

    Oct

  • 07

    Nov

11:15
09/21/17
09/21
11:15
09/21/17
11:15
General news
Treasury announced an $88 B 3-pronged package of coupon auctions »

Treasury announced an $88…

PEG

PSEG

$46.31

1.08 (2.39%)

11:10
09/21/17
09/21
11:10
09/21/17
11:10
Conference/Events
PSEG management to meet with Evercore ISI »

Meeting to be held in…

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03/06/13
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03/06/13
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  • 21

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  • 05

    Nov

11:08
09/21/17
09/21
11:08
09/21/17
11:08
General news
7-Yr Note Announcement CUSIP Number data reported »

7-Yr Note Announcement…

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