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Fly News Breaks for June 23, 2016
POST, MU, INTU, CERN, HD
Jun 23, 2016 | 10:22 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Home Depot (HD) upgraded to Buy from Neutral at Nomura with analyst Jessica Schoen Mace saying Home Depot's comps are still solidly positive, including a high-single-digit increase in the U.S. in 2016 despite slowing year-over-year home price growth. 2. Cerner (CERN) upgraded to Buy from Neutral at SunTrust with the firm citing valuation and its belief that estimates for the company have dropped "to an achievable level." 3. Intuit (INTU) upgraded to Conviction Buy from Buy at Goldman with analyst Jesse Hulsing saying retention rate trends are improving and he has increased confidence in Quickbooks Online subscriber growth outlook for FY17. 4. Micron (MU) upgraded to Positive from Neutral at Susquehanna and to Buy from Reduce at Nomura. Nomura analyst Romit Shah's two-notch upgrade is based on recent supply shortages in memory, firmer pricing, and 20nm execution. 5. Post Holdings (POST) upgraded to Buy from Hold at BB&T. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For HD;CERN;INTU;MU;POST From the Last 2 Days
HD
Mar 18, 2024 | 16:22 EDT
Mizuho initiated coverage of Home Depot with a Buy rating and $415 price target. The analyst launched coverage of 15 companies in the consumer hardlines and consumer internet verticals with an optimistic view for the balance of 2024. The firm expects a "more subdued, yet stable" spending backdrop to become more apparent in the coming months and takes a positive view toward eight names. Its top picks include Lowe's (LOW) within core consumer hardlines and large caps, Wayfair (W) within consumer internet coverage, and Mister Car Wash (MCW) within small caps. Expectations for rate cuts into 2025 should serve as an added positive and supports a positive stance on home improvement and other home-related activity, the analyst tells investors in a research note.
MU
Mar 18, 2024 | 05:55 EDT
Barclays analyst Tom O'Malley raised the firm's price target on Micron Technology to $120 from $95 and keeps an Overweight rating on the shares. The analyst sees "another strong beat and raise" quarter from MU, largely on the back of better DRAM pricing from high bandwidth energy. The firm increased 2024 and 2025 estimates for Micron, believing weaker NAND demand will be offset by continued production discipline.