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Fly News Breaks for April 20, 2016
HSY, EAT, BA, INTC, REGN
Apr 20, 2016 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Regeneron (REGN) downgraded to Market Perform at Wells Fargo by analyst Jim Birchenough after his calls with retinal specialists indicated growth headwinds for Eylea and concerns regarding the impact of proposed Medicare Part B changes in the retinal disease space. He said that feedback suggests Eylea's market share gains against Lucentis and Avastin have tempered while the drug's traction in displacing laser for diabetic macular edema has been limited. 2. Intel (INTC) downgraded to Market Perform at Northland with analyst Tom Sepenzis saying the PC market is not showing any signs of stabilization. The analyst also said that Intel's data center business is producing weaker growth, and will likely be challenged by ARM-based competition within the next 12 months. 3. Boeing (BA) downgraded to Underperform at BofA/Merrill by analyst Ronald Epstein, who cited disappointing cash generation for the 787 program. The analyst said Boeing needs to generate at least an average unit profit of $30M on the 907 current undelivered 787 units in the current program accounting block in order to burn off the 787 deferred production costs that reached $28.5B as of Q4 2015. He believes a $16M average unit profit is more likely and that Boeing will likely take a charge on the 797 program and/or extend the block size. 4. Brinker (EAT) downgraded to Equal Weight at Barclays with analyst Jeffrey Bernstein saying its fundamentals remain challenged. The company was also downgraded to Neutral at BTIG, as analyst Peter Saleh said Chili's sales challenges could continue tor the next several quarters. 5. Hershey (HSY) downgraded two notches to Underperform at BofA/Merrill by analyst Bryan Spillane, who said there is a lack of near-term catalysts to drive estimates and valuation higher. He adds that his 2016 expectations have moderated due to the sluggish start to U.S. chocolate sales, slow pace in cost structure improvements in China and likely reinvestment. 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 REGN;INTC;BA;EAT;HSY From the Last 2 Days
EAT
Apr 18, 2024 | 08:08 EDT
Evercore ISI raised the firm's price target on Brinker to $50 from $48 and keeps an In Line rating on the shares. After a weather impaired January and February, the firm had hoped for a mid-quarter acceleration in restaurant industry same-store sales growth, but "trends remained lackluster," the analyst tells investors in a Q1 preview for the group. The firm estimates fast food industry same-store sales growth of 1.5% in Q1 and a casual dining segment same-store sales decline of 1%, noting that it recently lowered top-line forecasts for much of its coverage because of the sluggish trends lately.
BA
Apr 17, 2024 | 16:32 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
BA
Apr 17, 2024 | 11:59 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
BA
Apr 17, 2024 | 10:36 EDT
Says without approximately $200M impact Boeing (BA) 737 MAX 9 from grounding, United (UAL) would have reported a quarterly profit.
BA
Apr 17, 2024 | 08:51 EDT
Northcoast downgraded Boeing to Sell from Neutral with a $140 price target. The stock in premarket trading is down 1% to $168.80. The analyst expects Boeing's quarterly earnings report in two weeks to prompt concerns about the company's underlying fundamentals and ultimately shift investor focus to liquidity and acquisition concerns. Negative expectations are embedded in the lower share price, but investors may not be discounting structural issues, such as Boeing's balance sheet stability or future cash liabilities, the analyst tells investors in a research note. Northcoast believes the 787 production challenges and the Federal Aviation Administration investigation uncertainties do not appear to be reflected in consensus estimates. The firm's channel checks confirm unexpected changes were already made to the Dreamliner production schedule "that would normally indicate some type of problem not yet been communicated to The Street." Its survey results point to a 787 program build rate of two jets per month, as opposed to Boeing's claim of five.
BA
Apr 17, 2024 | 08:30 EDT
Northcoast analyst Chris Olin downgraded Boeing to Sell from Neutral with a $140 price target.