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Fly News Breaks for January 17, 2017
LGF.B, LGF.A, MIK, AXP, NFLX, DIS
Jan 17, 2017 | 09:58 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Buy from Neutral at Goldman with analyst Drew Borst saying he believes accelerating fiscal 2018 earnings growth will result in price to earnings mean reversion and drive shares higher over the next 12 months. 2. Netflix (NFLX) upgraded to Buy from Neutral at Mizuho with analyst Neil Doshi saying he sees material room for International subscriber growth and believes the U.S. should see growth in 2017 as well, aided by more cord cutting. Doshi, who raised his 2017 net subscriber addition estimate to 4.6M from 3.5M, raised his price target on Netflix shares to $152 from $112, but added that his upgrade " is not a call on fourth quarter of 2016 earnings," as he thinks quarterly results should be in-line with expectations and that the company's first quarter subscriber guidance should "be bracketable with Street estimates." 3. American Express (AXP) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Shane saying he sees the company as best positioned among its card issuer peers to capitalize on lower personal and corporate tax rates. 4. Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman citing valuation. 5. Lionsgate (LGF.A, LGF.B) upgraded to Outperform from Market Perform at Bernstein with analysts Todd Juenger and Jason Park saying the firm's survey indicates that most subscribers of Lionsgate's Starz place a high value on the network. The analysts raised their target on the shares to $31 from $22. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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