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Fly News Breaks for January 28, 2020
IHRT, MCO, WING, WFC, GRMN
Jan 28, 2020 | 10:13 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Garmin (GRMN) upgraded to Neutral from Underperform at Credit Suisse with analyst Robert Spingam saying the headwinds for ADS-B sales in the Aviation segment are less severe than he previously expected, and when combined with other favorable dynamics, he sees the segment sustaining positive growth in FY20-21. 2. Wells Fargo (WFC) upgraded to Neutral from Underperform at Baird with analyst David George saying its decline since his downgrade but since then has seen the company work on its regulatory issues, improve efficiency and infrastructure investments, and changed its leadership. 3. Wingstop (WING) upgraded to Buy from Neutral at Northcoast. 4. Moody's (MCO) upgraded to Outperform from Market Perform at BMO Capital with analyst Jeffrey Silber saying further upside in Moody's stock price exists despite missing its recent strong performance and sees its forward-looking estimates as "conservative". Silber adds that while the company is facing tough rating comps in the second half of 2020, he does not see any drivers in the near term that would slow debt issuance. 5. iHeartMedia (IHRT) upgraded to Buy from Neutral at B. Riley FBR with analyst Zack Silver saying he sees a "compelling setup" for the shares over the next year. 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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