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Fly News Breaks for January 31, 2020
AMGN, MDC, WWE, KEX, ORLY
Jan 31, 2020 | 09:57 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. O'Reilly Automotive (ORLY) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Horvers saying his concerns are mounting around the record warm winter, moderating consumer spending, fading inflation tailwinds, and valuation. 2. Kirby (KEX) downgraded to Hold from Buy at Jefferies and Stifel as well as to Neutral from Buy at BofA. 3. WWE (WWE) downgraded to Hold from Buy at Loop Capital, to In Line from Outperform at Evercore ISI, and to Equal Weight from Overweight at Morgan Stanley. 4. M.D.C. Holdings (MDC) downgraded to Underweight from Equal Weight at Wells Fargo with analyst Truman Patterson saying while he remains secular bulls on Homebuilding and the equities, he expects the equity will lag the group's performance over the coming 12 months. 5. Amgen (AMGN) downgraded to Underperform from Neutral at Baird with analyst Brian Skorney saying Amgen is a "great company and the strong execution in the face of some serious headwinds has been more than reflected in the stock." 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 ORLY;KEX;WWE;MDC;AMGN From the Last 2 Days
AMGN
Mar 26, 2024 | 07:08 EDT
JPMorgan estimates Amgen (AMGN) without its obesity pipeline is worth $240-$250 per share and that the market is assigning $30-$40 per share of value to Maritide. While the competitive bar for Maritide is high and moving higher based on Novo Nordisk's (NVO) recent pipeline updates, the obesity market is also "unprecedented in terms of size," the analyst tells investors in a research note. The firm estimates peak sales for Maritide of $6B, equating to mid-single-digit share within the incretin space. JPMorgan believes this supports a value roughly in-line with what is reflected in Amgen's current share price. It sees a positive risk/reward scenario given the recent pullback but maintains a Neutral rating on the name with a $290 price target. The firm says Amgen is viewed as the best positioned name beyond Eli Lilly (LLY) and Novo to have a role in the obesity space.