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FL

Foot Locker

$34.38

-13.32 (-27.92%)

, AAP

Advance Auto Parts

$93.26

0.41 (0.44%)

16:13
08/19/17
08/19
16:13
08/19/17
16:13

Retail stocks swings could provide opportunity, Barron's says

This earnings season, retail companies are "either hitting a home run or striking out," with misses from Foot Locker (FL), Advance Auto Parts (AAP), and L Brands (LB), while Urban Outfitters (URBN) and Ross Stores (ROST) were massive winners, Ben Levisohn writes in this week's edition of Barron's. While this could be a new normal for retail stocks, the market's sudden swings could provide opportunity, the publication noted. Reference Link

FL

Foot Locker

$34.38

-13.32 (-27.92%)

AAP

Advance Auto Parts

$93.26

0.41 (0.44%)

LB

L Brands

$36.20

-1.35 (-3.60%)

URBN

Urban Outfitters

$19.27

0.33 (1.74%)

ROST

Ross Stores

$59.02

5.69 (10.67%)

FL Foot Locker
$34.38

-13.32 (-27.92%)

08/18/17
BOFA
08/18/17
DOWNGRADE
BOFA
Underperform
Foot Locker downgraded to Underperform from Neutral at BofA/Merrill
08/18/17
JPMS
08/18/17
DOWNGRADE
Target $37
JPMS
Neutral
Foot Locker downgraded to Neutral with $37 target at JPMorgan
JPMorgan analyst Matthew Boss downgraded Foot Locker to Neutral from Overweight and cut his price target for the shares to $37 from $54 citing the changing landscape in athletics post the company's Q2 miss. Three other firms downgraded Foot Locker today.
08/18/17
JPMS
08/18/17
DOWNGRADE
JPMS
Neutral
Foot Locker downgraded to Neutral from Overweight at JPMorgan
08/18/17
ADAM
08/18/17
DOWNGRADE
ADAM
Hold
Foot Locker downgraded to Hold from Buy at Canaccord
AAP Advance Auto Parts
$93.26

0.41 (0.44%)

08/16/17
GABE
08/16/17
NO CHANGE
GABE
Buy
Advance Auto Parts weakness a buying opportunity, says Gabelli
08/16/17
DBAB
08/16/17
NO CHANGE
Target $101
DBAB
Buy
Deutsche Bank sticking with Buy rating on Advance Auto Parts
Deutsche Bank analyst Mike Baker lowered his price target to $101 from $139 following the Q2 results but is sticking with his Buy rating on Advance Auto Parts. First and most importantly, the company seems to be stabilizing its market share, the first step in any turnaround, Baker tells investors in a post-earnings research note. He also believes downward earnings revisions should be behind the company and that the current share price assumes little margin recovery.
08/16/17
ATLE
08/16/17
DOWNGRADE
Target $93
ATLE
Neutral
Advance Auto Parts downgraded to Neutral from Overweight at Atlantic Equities
Atlantic Equities analyst Sam Hudson downgraded Advance Auto Parts to Neutral from Overweight with a $93 price target citing limited near-term visibility. Hudson said the challenging industry backdrop has pushed out a turnaround until FY18 at the earliest and said negative comps will persist in the second half and near-term margins are difficult to gauge.
08/16/17
08/16/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dick's Sporting (DKS) was downgraded to Neutral from Buy at Monness Crespi, Goldman Sachs, MKM Partners, Buckingham, Citi, and to Neutral from Positive at Susquehanna, while being downgraded to Hold from Buy at Deutsche Bank and to Sector Perform from Outperform at RBC Capital. 2. Teva (TEVA) downgraded to Neutral from Buy at Citi with analyst Liav Abraham saying Teva is "cheap, but not cheap enough." 3. Advance Auto Parts (AAP) downgraded to Neutral from Overweight at Atlantic Equities with analyst Sam Hudson citing limited near-term visibility. 4. SL Green Realty (SLG) and Kilroy Realty (KRC) were downgraded to Neutral from Buy at BofA/Merrill, while Gramercy Property Trust (GPT) was downgraded to Underperform from Neutral. 5. CB&I (CBI) downgraded to Hold from Buy at Jefferies with analyst Martin Englert saying he is concerned that cost overruns at the company's two LNG projects could reemerge, adding risk to 2017-2019 earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LB L Brands
$36.20

-1.35 (-3.60%)

08/17/17
MSCO
08/17/17
NO CHANGE
Target $59
MSCO
Overweight
L Brands not in structural decline despite selloff, says Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger says that at 11 times 2017 earnings estimates, the market believes L Brands is in structural decline. She disagrees. The analyst admits the Victoria's Secret turnaround is taking longer than expected but she remains confident in L Brands' long-term competitive position. Greenberger keeps an Overweight rating on the shares with a slightly reduced $59 price target. The retailer is down 7% to $36.88 after reporting Q2 results.
08/18/17
SBSH
08/18/17
NO CHANGE
Target $40
SBSH
Neutral
L Brands dividend yield now over 6%, says Citi
Citi analyst Paul Lejuez says that while he still sees "several risks" in L Brands' business, the dividend yield is now over 6% after yesterday's selloff. This skews the risk/reward more positively, Lejuez tells investors in a research note. The analyst lowered his price target for the shares to $40 from $49 and keeps a Neutral rating on the name.
08/18/17
COWN
08/18/17
NO CHANGE
Target $40
COWN
Outperform
L Brands shares at lows but execution risk remains, says Cowen
Cowen analyst Oliver Chen noted L Brands shares are at multi-year lows following its Q2 results. The analyst said he is cautiously optimistic the company can hit its guidance for the full year but he believes execution is a clear risk. Chen maintained his Outperform rating and lowered his price target to $40 from $49 on L Brands shares.
08/18/17
BUCK
08/18/17
NO CHANGE
BUCK
L Brands price target lowered to $43 from $52 at Buckingham
Buckingham analyst - Kelly Halsor lowered her price target on L Brands after the company cut its full-year EPS guidance. However, she continues to expect Victoria Secret comps to rebound in 2H17 versus 1H17. She adds that fears about BBW comps turning negative are overdone, and she thinks that the stock's risk/reward ratio is positive. Halsor keeps a Buy rating on the stock.
URBN Urban Outfitters
$19.27

0.33 (1.74%)

08/16/17
KEYB
08/16/17
NO CHANGE
KEYB
Urban Outfitters may be 'finally turning the corner,' says KeyBanc
KeyBanc analyst Edward Yruma says there are "reasons to believe that Urban Outfitters is finally turning the corner. " The analyst says that the company's "controlled store count, 35%+ e-commerce penetration, and focus on differentiated merchandise" are "attractive," while the fact that the company is selling more products at regular prices could be "an early indicator of a turn." The analyst keeps a $26 price target and an Overweight rating on the stock.
08/16/17
BARD
08/16/17
NO CHANGE
Target $22
BARD
Outperform
Urban Outfitters 12 month risk/reward favorable, says Baird
Baird analyst Mark Altschwager noted Urban Outfitters reported better than expected Q2 results. The analyst said with its better earnings visibility, lean store base, clean balance sheet, brand-level operational improvements underway, and undemanding valuation metrics, he likes the 12 month risk/reward. Altschwager reiterated his Outperform rating and raised his price target to $22 from $21 on Urban Outfitters shares.
08/16/17
GSCO
08/16/17
NO CHANGE
Target $18
GSCO
Sell
Urban Outfitters still has risk to the downside, says Goldman Sachs
Goldman Sachs analyst Lindsay Drucker Mann said Urban Outfitters' Q2 report showed a notable improvement in business relative to its mid-quarter comp update in early June. However, the analyst remains Sell rated given structural pressures impacting Specialty Retailers and said its too early to have conviction for sustained positive momentum. Drucker Mann stills sees risk to the downside and said negative sentiment across the group should keep a cap on multiples. The analyst raised Urban's price target to $18 from $16.
08/16/17
RHCO
08/16/17
NO CHANGE
RHCO
Urban Outfitters Q2 results, comments encouraging, says SunTrust
SunTrust analyst Pamela Quintiliano says that Urban Outfitters' Q2 results and conference call were encouraging. The analyst says that the company's comments about the positive momentum of its apparel business "bodes well" for 2H17. She reiterates a Buy rating.
ROST Ross Stores
$59.02

5.69 (10.67%)

08/02/17
FBCO
08/02/17
NO CHANGE
Target $64
FBCO
Neutral
Ross Stores price target lowered to $64 from $70 at Credit Suisse
Credit Suisse analyst Christian Buss lowered his price target for Ross Stores to $64 from $70 given the recent deceleration of returns and widened gap between the off-price group's share price versus the rest of the retail group. The analyst also notes that the company also continues to expand square footage. He reiterates a Neutral rating on the shares.
08/18/17
RHCO
08/18/17
NO CHANGE
RHCO
Ross Stores should be bought into strength, says SunTrust
SunTrust analyst Pamela Quintiliano says that Ross Stores reported "very strong" Q2 results and continues to execute well. She thinks the company is well-positioned to continue to outperform and recommends buying the shares on strength.
08/18/17
WELS
08/18/17
NO CHANGE
WELS
Ross Stores reported 'very solid' Q2 results, says Wells Fargo
Wells Fargo says that Ross Stores reported "very solid" Q2 results "with no holes to poke at." " Wells thinks that the company dispelled investors' concerns, partly because its comp sales came in above expectations and it increased its merchant margins,. Wells keeps an Outperform rating on the shares.
08/15/17
WELS
08/15/17
NO CHANGE
WELS
TJX results bode well for off-price sector, says Wells Fargo
Wells Fargo analyst Ike Boruchow says that TJX's (TJX) better than expected Q2 results bode well for the off-price retail sector. The analyst notes that the company's merchandise margins rebounded in Q2, even though its overall gross margins came in below expectations due to "losses on inventory hedges," Other companies in the sector include Ross Stores, (ROST) and Burlington Stores (BURL). The analyst keeps Outperform ratings on all three stocks.

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