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Fly News Breaks for October 11, 2017
Oct 11, 2017 | 10:24 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) upgraded to Buy from Hold at Jefferies with analyst Jeffrey Holford saying J&J's Pharma division is "under-modeled" by analysts and will drive above-consensus revenue and earnings growth. 2. Visa (V) and MasterCard (MA) were upgraded to Outperform from Market Perform at Wells Fargo. 3. Colgate-Palmolive (CL) upgraded to Buy from Hold at SunTrust with analyst William Chappell saying the recent three consecutive quarters of weak results is an "anomaly" given the company's long term track record of consistent mid-single-digit or higher organic growth. 4. AbbVie (ABBV) upgraded to Outperform from Market Perform at Cowen with analyst Steve Scala saying AbbVie "showed the best" of all the companies at Cowen's Annual Therapeutics Conference last week. 5. PayPal (PYPL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst James Faucette calling it among the few large companies that can deliver high-teens revenue and 20% EPS growth. 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 JNJ;V;MA;CL;ABBV;PYPL From the Last 2 Days
Oct 16, 2017 | 13:13 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Johnson & Johnson (JNJ), consensus $1.80... UnitedHealth (UNH), consensus $2.56... Goldman Sachs (GS), consensus $4.17... Morgan Stanley (MS), consensus 81c... CSX (CSX), consensus 51c... Progressive (PGR), consensus 35c... Comerica (CMA), consensus $1.19... W.W. Grainger (GWW), consensus $2.56... Harley-Davidson (HOG), consensus 40c... Synovus Financial (SNV), consensus 65c... Tile Shop (TTS), consensus 5c.
Oct 16, 2017 | 07:46 EDT
18th World Conference on Lung Cancer is being held in Yokohama, Japan on October 15-18.
Oct 16, 2017 | 07:21 EDT
Jefferies analyst Jeffrey Holford keeps AbbVie (ABBV) as his top global Pharmaceuticals pick for October, followed by Roche (RHHBY), Novartis (NVS), Bayer (BAYRY), Johnson & Johnson (JNJ), Eli Lilly (LLY) and GlaxoSmithKline (GSK). The analyst raised his price target for AbbVie shares to $115 from $107 and keeps a Buy rating on the name. Among his other target changes include bumping Eli Lilly's to $100 from $96.
Oct 16, 2017 | 05:36 EDT
Jefferies analyst Jeffrey Holford downgraded Bristol-Myers Squibb (BMY) to Hold saying the shares, following the recent rally, have "significant downside risk" should lung cancer trial CheckMate-227 fail. Further, other consolidation targets, such as AbbVie (ABBV), may have become more attractive, potentially threatening Bristol's downside protection, Holford tells investors in a research note. He attributes the recent rise in Bristol shares to takeover speculation and favorable flows into Biopharma names. Holford still sees "significant potential upside" if CM-227 reads out positively, but he only assigns a 50% probability to this. He lowered his price target for Bristol-Myers shares to $71 from $72. The stock closed Friday down 6c to $65.29.
Oct 16, 2017 | 05:19 EDT
Citi analyst Amit Hazan believes Friday's FDA approval of TransEnterix's (TRXC) Senhance Surgical Robotic System should be viewed far less in the context of a competitive threat to Intuitive Surgical's (ISRG) da Vinci and more of another sign that the FDA has "eased its bar" for approval. The TransEnterix Senhance system is "at least currently not in the same league as da Vinci," Hazan tells investors in a research note titled "Intuitive's First US Competitor Arrives, Sort Of." He admits, however, that Intuitive is increasingly likely to see new competition, from Medtronic (MDT) first and then Johnson & Johnson's (JNJ) joint venture "much later," on time or earlier than expected. Hazan still expects Intuitive to dominate, however, and keeps a Buy rating on the shares. The stock sold off 3% in after-hours trading on Friday following TransEnterix's announcement.
Oct 15, 2017 | 16:20 EDT
PayPal (PYPL) vaulted over American Express (AXP) in terms of market value this week, with the payments company's shares gaining almost 75% since the start of 2017, according to The Wall Street Journal. Its market capitalization stands at about $83B, almost double the $47B value it had when it spun off from eBay (EBAY), and just $6B less than Morgan Stanley's (MS) and $10B less than that of Goldman Sachs (GS), the publication noted. Reference Link
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