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Fly News Breaks for August 31, 2016
CGI, APPS, PSTG, SAN, PNC
Aug 31, 2016 | 10:15 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. PNC Financial (PNC) upgraded to Outperform from Market Perform at Keefe Bruyette after transferring coverage to analyst Brian Klock. The analyst views the current valuation as attractive and sees opportunity for multiple expansion given PNC's diversified revenue stream. He upped the price target for the shares to $96 from $93. 2. Banco Santander (SAN) upgraded to Buy from Hold at Deutsche Bank, citing strong earnings momentum and an attractive valuation. 3. Pure Storage (PSTG) upgraded to Outperform from Perform at Oppenheimer by analyst Ittai Kidron, who thinks "too much negativism" is priced into the shares at current levels. The analyst believes FlashBlade can more than double Pure's addressable market longer term. Kidron set a $15 price target for the shares. 4. Digital Turbine (APPS) upgraded to Buy from Neutral at Ladenburg Thalmann, as analyst Jon Hickman believes new partner roll-outs in 2017 should improve revenue growth. The analyst raised his price target for the shares to $2.35 from $1.15. 5. Celadon Group (CGI) upgraded to Outperform from Market Perform at Avondale. 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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