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Fly News Breaks for July 17, 2018
GT, DE, CAT, GNRC, MTW, SBGI, TRCO, NFLX
Jul 17, 2018 | 11:37 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ANALYSTS SPLIT ON NETFLIX AFTER EARNINGS: Despite continuing to like Netflix's story, Deutsche Bank analyst Bryan Kraft downgraded Netflix (NFLX) to Hold from Buy as he believes that the "slowdown in growth" requires a "reevaluation of value." Meanwhile, both BMO Capital and Stifel upgraded the stock to Buy-equivalent ratings as they see the post-earnings weakness in the shares as a buying opportunity. BMO analyst Daniel Salmon raised Netflix to Outperform, with a $400 price target, saying the decline in the stock price following quarterly results offers investors an attractive level to build positions. Stifel also upgraded Netflix to Buy from Hold, with a $406 price target. Analyst Scott Devitt cited the potential for near-term subscription add expectations to reset, a strong second half of the year content slate, and a domestic and international runway, which supports a doubling of the company's subscriber base in the next five to ten years. STEPHENS SEES OPPORTUNITY IN TRIBUNE SELLOFF: Stephens analyst Kyle Evans upgraded Tribune Media (TRCO) to Overweight from Equal Weight while lowering his price target for the shares to $41 from $45. Statements from the FCC and reports by Reuters on Monday created investor concern around whether Sinclair Broadcast (SBGI) will be able to close its proposed acquisition of Tribune, Evans told investors. The analyst said he believes the FCC will allow Sinclair to remedy its concerns about proposed divestiture buyers and that Sinclair will comply with all requirements in an effort to close the deal. He believes a combination of the two companies "remains the best possible outcome for both parties." GOLDMAN SACHS DOWNGRADES MACHINERY MAKERS: Goldman Sachs analyst Jerry Revich downgraded Manitowoc (MTW) to Sell from Neutral and lowered his price target to $22 from $30 as part of his broader note on the machinery cycle. The analyst also downgraded Generac (GNRC) to Sell from Neutral with an unchanged price target of $45 and removed Caterpillar (CAT) and Deere (DE) from the firm's Conviction Buy lists. GOLDMAN ALSO DOWNGRADES GOODYEAR: Goldman Sachs analyst David Tamberrino downgraded Goodyear Tire & Rubber (GT) to Sell from Neutral and lowered his price target for the shares to $18 from $25. The analyst said he sees the "tough backdrop" for the company continuing amid raw material price increases. Further, Goodyear's pricing power "remains elusive," Tamberrino told investors in a research note.
News For NFLX;TRCO;SBGI;MTW;GNRC;CAT;DE;GT From the Last 2 Days
GNRC
Apr 23, 2024 | 08:27 EDT
Roth MKM analyst Chip Moore raised the firm's price target on Generac to $135 from $120 and keeps a Neutral rating on the shares ahead of its Q1 results. The company's core trends are improving heading into the print, though the firm will also look for better visibility on the commercial and industrial demand and the clean energy portfolio to get more constructive, the analyst tells investors in a research note. Roth MKM adds that it is positive on Generac's strategy and potential, though it still finds risk/reward on the stock as "balanced at current levels".
DE
Apr 23, 2024 | 07:42 EDT
Cyngn (CYN) has been chosen to supply its DriveMod Tuggers for industrial automation to John Deere's (DE) operation in Dubuque, Iowa. Cyngn is a supplier of AI-powered autonomous vehicle and data solutions based in Menlo Park, CA.
MTW
Apr 22, 2024 | 05:05 EDT
Barclays lowered the firm's price target on Manitowoc to $12 from $15 and keeps an Underweight rating on the shares ahead of the Q1 report. Earnings momentum in the machinery and constructing group could soften in the first half of 2024, which could test the sector's multiple framework, the analyst tells investors in a research note.