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AMP

Ameriprise

$101.16

-1.65 (-1.60%)

, BAC

Bank of America

$16.13

-0.09 (-0.55%)

07:15
10/10/16
10/10
07:15
10/10/16
07:15

Oppenheimer technical analyst upgrades Financials, downgrades Consumer Staples

Oppenheimer technical analyst Ari Wald upgraded the Financials sector to Market Weight and downgraded Consumer Staples to Underweight in next step in the firm's "cyclical rotation road map." Wald identified Ameriprise (AMP), Bank of America (BAC), Citi (C), Goldman Sachs (GS), Lincoln National (LNC) and SunTrust (STI) as six stocks breaking higher that he sees as likely to benefit from internal market rotation.

AMP

Ameriprise

$101.16

-1.65 (-1.60%)

BAC

Bank of America

$16.13

-0.09 (-0.55%)

C

Citi

$49.28

0.21 (0.43%)

GS

Goldman Sachs

$169.83

2.68 (1.60%)

LNC

Lincoln National

$48.66

-0.54 (-1.10%)

STI

SunTrust

$45.69

-0.1 (-0.22%)

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    Nov

AMP Ameriprise
$101.16

-1.65 (-1.60%)

07/06/16
EVER
07/06/16
INITIATION
Target $110
EVER
Buy
Ameriprise initiated with a Buy at Evercore ISI
Evercore ISI analyst Thomas Gallagher started Ameriprise Financial with a Buy rating and $110 price target.
07/25/16
RBCM
07/25/16
DOWNGRADE
RBCM
Sector Perform
Ameriprise downgraded on near-term challenges at RBC Capital
As noted earlier, RBC Capital downgraded Ameriprise to Sector Perform from Outperform. RBC Capital analyst Eric Berg says that the company is facing near-term challenges, including the U.S. Department of Labor's new fiduciary rule. The rule will affect the company's life insurance company, financial adviser network, and its fund company, according to Berg. Target to $98 from $121.
10/07/16
FBCO
10/07/16
INITIATION
Target $116
FBCO
Neutral
Ameriprise initiated with a Neutral at Credit Suisse
Credit Suisse analyst John Nadel initiated Ameriprise with a Neutral and a $116 price target.
07/25/16
RBCM
07/25/16
DOWNGRADE
RBCM
Sector Perform
Ameriprise downgraded to Sector Perform from Outperform at RBC Capital
BAC Bank of America
$16.13

-0.09 (-0.55%)

09/16/16
GSCO
09/16/16
NO CHANGE
Target $19
GSCO
Conviction Sell
Bank of America operating leverage hitting an inflection, says Goldman
Goldman analyst Richard Ramsden believes Bank of America is hitting an inflection point in operating leverage driven by low single digit growth, stable credit, and absolute reductions in the expense base. The analyst believes topline growth will reach approximately 4% annually through to 2018, driven by consumer bank and wealth management initiatives. Ramsden reiterates his Conviction Buy rating on Bank of American and raised his price target to $19 from $17 given the combination of revenue growth and expense discipline.
09/13/16
SOCG
09/13/16
DOWNGRADE
Target $42
SOCG
Sell
Societe Generale cuts Citi to Sell, Bank of America to Hold
Societe Generale downgraded Citi (C) to Sell from Hold and Bank of America (BAC) to Hold from Buy. The firm has a $42 price target for shares of Citi and attributes an increased negative stance on Cards for the downgrade. Societe Generale has a $17 price target for Bank of America and cites revenue growth for the downgrade to Hold. Citi is trading down 86c to $46.93 and Bank of America is trading down 19c to $15.71.
09/13/16
SOCG
09/13/16
DOWNGRADE
SOCG
Hold
Bank of America downgraded to Hold from Buy at Societe Generale
08/25/16
GSCO
08/25/16
NO CHANGE
Target $17
GSCO
Buy
Bank of America at an inflection point, says Goldman
Goldman analyst Richard Ramsden believes Bank of America's operating leverage is at an inflection point as revenue growth and cost reductions from back office rationalization take effect. Ramsden met with CEO Moynihan and said he believes the company can grow core loans, without compromising credit quality, at mid-single digit rates, and expects the fee-based businesses to benefit from growth in checking accounts, mortgage activity, and market share gains. Ramsden believes Bank of America can achieve 10% ROTCE and views valuation as compelling. He rates shares a Buy with a $17 price target.
C Citi
$49.28

0.21 (0.43%)

09/16/16
09/16/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 21st Century Fox (FOX, FOXA) downgraded to Market Perform from Outperform at Bernstein with analyst Jason Park citing a reduction in his estimates for the company's Star India business. 2. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities. 3. Citi (C) downgraded to Neutral from Buy at Goldman with analyst Richard Ramsden saying Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. 4. McCormick (MKC) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard citing valuation. 5. Novavax (NVAX) downgraded to Neutral from Overweight at Piper Jaffray, to Neutral from Overweight at JPMorgan, to Neutral from Buy at Ladenburg, to Neutral from Outperform at Wedbush, and to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/13/16
SOCG
09/13/16
DOWNGRADE
SOCG
Sell
Citi downgraded to Sell from Hold at Societe Generale
09/16/16
GSCO
09/16/16
DOWNGRADE
GSCO
Neutral
Citi downgraded to Neutral from Buy at Goldman
Goldman analyst Richard Ramsden downgraded Citi to Neutral and lowered his price target on the shares to $50 from $52. The analyst said Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. Ramsden's analysis suggests growth in higher return businesses, such as credit cards and wealth management, and expense discipline will not be enough to increase ROE all the way to its 10% target. Citi remains a capital returns story, constrained by the utilization of deferred tax assets, the analyst wrote in his report.
GS Goldman Sachs
$169.83

2.68 (1.60%)

03/16/16
LYON
03/16/16
NO CHANGE
LYON
CLSA Technical Research says to Sell Bank of America, Goldman Sachs
CLSA Technical Research said market touched key overhead resistance provided by their 200-day moving averages last week, the majority of markets remain below these key technical resistance levels. CLSA believes the financials in particular look vulnerable after their relief rallies ran into major overhead resistance and recommends selling Bank of America (BAC) and Goldman Sachs (GS).
04/19/16
SBSH
04/19/16
NO CHANGE
Target $185
SBSH
Buy
Goldman Sachs offers the best risk/reward under coverage, says Citi
Citi analyst Keith Horowitz said Goldman Sachs offers the best risk/reward under coverage and sees significant leverage for better returns from improved market conditions and increased expense focus. The analyst rates Goldman Sachs a Buy with a $185 price target.
07/13/16
07/13/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Citi (C) initiated with a Buy, JPMorgan (JPM) initiated with a Sell, Goldman Sachs (GS) and Morgan Stanley (MS) initiated with a Hold at Berenberg. 2. Ingersoll-Rand (IR) initiated with an Outperform at BMO Capital. 3. Incyte (INCY) initiated with an Outperform at RBC Capital. 4. Williams (WMB) reinstated with a Buy at Goldman. 5. E-Trade (ETFC) initiated with a Buy at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/13/16
BREN
07/13/16
INITIATION
Target $140
BREN
Hold
Goldman Sachs initiated with a Hold at Berenberg
Target $140.
LNC Lincoln National
$48.66

-0.54 (-1.10%)

09/22/16
WELS
09/22/16
INITIATION
WELS
Market Perform
Lincoln National coverage resumed with a Market Perform at Wells Fargo
10/07/16
FBCO
10/07/16
INITIATION
Target $57
FBCO
Lincoln National initiated with a Neutral at Credit Suisse
Credit Suisse analyst John Nadel initiated Lincoln National with a Neutral and a $57 price target.
07/15/16
GSCO
07/15/16
DOWNGRADE
Target $46
GSCO
Neutral
Lincoln National downgraded to Neutral from Buy at Goldman
Goldman analyst Michael Kovac downgraded Lincoln National to Neutral and lowered its price target to $46 from $51. Kovac sees fewer growth catalysts to drive shares higher combined with a worsened macroeconomic environment that he did not foresee.
07/11/16
07/11/16
DOWNGRADE
Target $31

Underperform
Unum Group downgraded to Underperform from Market Perform at FBR Capital
FBR Capital analyst Randy Binner downgraded Unum Group (UNM) to Underperform citing the company's "lower-quality investment portfolio and lower excess capital" relative to peers. The company's U.K. group benefits business could see underwriting impacts if Brexit puts the U.K. into a recession, Binner tells investors in a research note. The analyst keeps a $31 price target for the shares and recommends a pair trade of long Lincoln National (LNC), short Unum.
STI SunTrust
$45.69

-0.1 (-0.22%)

08/16/16
08/16/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hain Celestial (HAIN) downgraded to Equal Weight from Overweight at Barclays, to Neutral from Buy at SunTrust, to Underweight from Neutral at Piper Jaffray, and to Underweight from Neutral at Atlantic Equities. 2. JPMorgan (JPM), SunTrust (STI), and Regions Financial (RF) downgraded to Market Perform from Outperform at Bernstein. 3. Performance Sports Group (PSG) downgraded to Neutral from Outperform at Wedbush with analyst James Hardiman saying the delay in the filing of the company's 10-K could cause it to default. 4. Ocean Rig UDW (ORIG) downgraded to Hold from Buy at Deutsche Bank with analyst Mike Urban saying the company's restructuring is likely unfavorable for existing equity holders. 5. Alarm.com (ALRM) downgraded to Market Perform from Outperform at Raymond James with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
WEDB
10/06/16
INITIATION
Target $47
WEDB
Neutral
SunTrust initiated with a Neutral at Wedbush
Wedbush analyst Peter Winter initiated SunTrust with a Neutral and a $47 price target.
08/16/16
BERN
08/16/16
DOWNGRADE
BERN
Market Perform
SunTrust downgraded based on valuation at Bernstein
As noted earlier, Bernstein downgraded SunTrust to Market Perform from Outperform. Analyst John McDonald downgraded the stock based on valuation. Additionally, the analyst says that banks will be hurt by an eventual downturn in credit metrics, while expectations of interest rate increases have diminished. Target remains $43.
08/16/16
BERN
08/16/16
DOWNGRADE
BERN
Market Perform
SunTrust downgraded to Market Perform from Outperform at Bernstein

TODAY'S FREE FLY STORIES

WMT

Walmart

$100.69

-0.18 (-0.18%)

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BLL

Ball Corp.

$38.39

0.49 (1.29%)

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PBYI

Puma Biotechnology

$90.85

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ADTN

Adtran

$19.50

-0.2 (-1.02%)

05:30
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PSTG

Pure Storage

$16.16

-0.31 (-1.88%)

05:27
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PSDO

Presidio

$17.74

-0.96 (-5.13%)

05:25
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JNPR

Juniper

$28.61

-0.28 (-0.97%)

05:24
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    Jan

IDTI

Integrated Device

$31.75

-0.54 (-1.67%)

, MRVL

Marvell

$23.58

-0.26 (-1.09%)

05:22
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05:22
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IDTI

Integrated Device

$31.75

-0.54 (-1.67%)

MRVL

Marvell

$23.58

-0.26 (-1.09%)

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  • 29

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WWR

Westwater Resources

$1.01

-0.0449 (-4.26%)

05:20
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IBM

IBM

$163.85

0.71 (0.44%)

, AMZN

Amazon.com

$1,304.86

-0.34 (-0.03%)

05:20
01/17/18
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Upgrade
IBM, Amazon.com, Microsoft rating change  »

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IBM

IBM

$163.85

0.71 (0.44%)

AMZN

Amazon.com

$1,304.86

-0.34 (-0.03%)

MSFT

Microsoft

$88.35

-1.25 (-1.40%)

03/08/13
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HPQ

HP Inc.

$22.88

-0.04 (-0.17%)

05:15
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01/17
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  • 18

    Jan

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    Jan

WPZ

Williams Partners

$43.01

-0.18 (-0.42%)

05:14
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WMB

Williams

$32.59

-0.62 (-1.87%)

05:14
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SPGYF

Whitecap Resources

$7.69

0.0258 (0.34%)

05:13
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WES

Western Gas Partners

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WGP

Western Gas Equity

$41.76

-0.36 (-0.85%)

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  • 22

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VLP

Valero Energy Partners

$46.58

-0.11 (-0.24%)

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  • 02

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TRGP

Targa Resources

$50.75

-0.69 (-1.34%)

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PAGP

Plains GP Holdings

$23.41

-0.73 (-3.02%)

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  • 07

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PAA

Plains All American

$22.90

-1.06 (-4.42%)

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PSXP

Phillips 66 Partners

$55.73

0.58 (1.05%)

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  • 02

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OKE

Oneok

$58.80

0.13 (0.22%)

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MPLX

MPLX

$38.28

-0.5 (-1.29%)

05:07
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DKL

Delek Logistics

$32.40

-0.1 (-0.31%)

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AETUF

ARC Resources

$11.15

-0.19 (-1.68%)

05:06
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