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Fly News Breaks for May 19, 2017
PANW, SNX, LL, TMUS, ADSK
May 19, 2017 | 10:23 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Goldman Sachs analyst Brett Feldman added T-Mobile (TMUS) to the firm's Conviction Buy List and increased its price target to $81 from $74 based on potential capital returns and upside to subscriber growth forecasts. 2. Jefferies analyst John DiFucci upgraded Palo Alto Networks (PANW) to Buy and raised his price target for the shares to $150 from $130. Palo's recent operational weakness has more to do with a major product cycle than sales execution or increased competition, DiFucci tells investors. 3. Oppenheimer analyst Brian Nagel upgraded Lumber Liquidators (LL) to Outperform saying a "potentially prolonged recovery" is starting to take shape under new management. 4. Raymond James analyst Adam Tindle upgraded SYNNEX (SNX) two notches to Strong Buy from Market Perform and established a $122 price target on shares saying key metrics are "poised to inflect." 5. RBC Capital upgraded Autodesk (ADSK) to Outperform from Sector Perform. Analyst Matthew Hedberg says he has increased confidence in the transition of the company's business model after it reported stronger than expected Q1 results. 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 TMUS;SNX;ADSK;LL;PANW From the Last 2 Days
TMUS
May 23, 2017 | 20:04 EDT
Speaking at a JPMorgan investor conference Tuesday, Dish (DISH) CEO Charlie Ergen said he's searching for partners as the company looks to build a new wireless data network, reports Bloomberg. The network would be designed for the Internet of Things, and the first phase of the project could be launched by 2020 for less than $1B, Ergen noted, according to Bloomberg. Ergen added that Sprint (S) and T-Mobile (TMUS) don't share his vision. Satellite Business News reported on May 17 that Amazon (AMZN) was in talks to become a "foundational customer" of the Dish network.
PANW
May 23, 2017 | 08:26 EDT
Morgan Stanley analyst Keith Weiss said reseller checks indicate a slight "degradation" in Q3 trends, in-line with expectations, but the ongoing sales reorganization and high Q4 topline expectations create near-term risks. The analyst recommends staying on the sidelines and maintains an Equal Weight and $150 price target.
ADSK
May 23, 2017 | 08:15 EDT
Global TMT Conference is being held in Boston on May 22-24 with webcasted company presentations to begin on May 23 at 8 am; not all company presentations may be webcasted. Webcast Link
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