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CMI

Cummins

$142.20

0.42 (0.30%)

, CERN

Cerner

$49.78

0.01 (0.02%)

10:37
12/01/16
12/01
10:37
12/01/16
10:37

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cummins (CMI) downgraded to Outperform from Buy at CLSA with analyst Kristine Kubacki citing valuation. 2. Cerner (CERN) downgraded to Market Perform from Outperform at Leerink with analyst David Larsen saying he believes there are several macro-headwinds putting pressure on the company's business model that he does not expect to alleviate any time soon. 3. McDonald's (MCD) and Wendy's (WEN) downgraded to Neutral from Buy at Guggenheim. 4. QuintilesIMS (Q) was downgraded to Market Perform from Strong Buy at Raymond James and to Market Perform from Outperform at William Blair. 5. National Oilwell (NOV) downgraded to Sell from Neutral at Seaport Global with analyst Richard Hastings citing premium 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.

CMI

Cummins

$142.20

0.42 (0.30%)

CERN

Cerner

$49.78

0.01 (0.02%)

MCD

McDonald's

$118.15

-1.125 (-0.94%)

WEN

Wendy's

$12.57

-0.31 (-2.41%)

Q

symbol changed to IQV

$74.07

-2.76 (-3.59%)

NOV

National Oilwell

$38.43

1.07 (2.86%)

  • 07

    Feb

CMI Cummins
$142.20

0.42 (0.30%)

12/01/16
12/01/16
DOWNGRADE
Target $150

Outperform
Cummins downgraded to Outperform on valuation at CLSA
As previously reported, CLSA downgraded Cummins to Outperform from Buy. Analyst Kristine Kubacki changed her rating citing valuation and maintained its $150 price target.
11/07/16
EVER
11/07/16
UPGRADE
EVER
Buy
Cummins upgraded to Buy from Hold at Evercore ISI
Evercore ISI analyst David Raso upgraded Cummins to Buy and raised its price target to $144 from $114 based on lowered expectations, valuation, and accelerating inflation. The analyst said Cummins' heavy exposure to emerging markets and expectations that 2018 North America heavy truck markets will return to growth are a key driver for the upgrade.
11/07/16
11/07/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Time Warner (TWX) upgraded to Outperform from Neutral at Credit Suisse with analyst Omar Sheikh citing attractive valuation. 2. Waste Management (WM) upgraded to Overweight from Equal Weight at Barclays with analyst Jon Windham saying the recent pullback in shares provides a buying opportunity given the company's "strong" underlying fundamentals. 3. Parker-Hannifin (PH) upgraded to Buy from Hold at Evercore ISI and to Overweight from Equal Weight at Morgan Stanley. 4. Biogen (BIIB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Joshua Schimmer saying the company still has time to "get its act together to maximize the value of its SMA franchise, and stop being M&A disciplined/pipeline-undisciplined." 5. Cummins (CMI) upgraded to Buy from Hold at Evercore ISI with analyst David Raso citing lowered expectations, valuation, and accelerating inflation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/01/16
LYON
12/01/16
DOWNGRADE
LYON
Outperform
Cummins downgraded to Outperform from Buy at CLSA
CERN Cerner
$49.78

0.01 (0.02%)

11/10/16
DBAB
11/10/16
DOWNGRADE
DBAB
Hold
Cerner, Allscripts downgraded to Hold on ACA uncertainty at Deutsche Bank
As previously reported, Deutsche Bank analyst George Hill downgraded Cerner (CERN) and Allscripts (MDRX), both to Hold from Buy, citing the "high likelihood" that the Affordable Care Act gets repealed or significantly scaled back following the election of Donald Trump. Given the likely repeal, and uncertainty on what will replace the ACA, Hill sees a less certain outlook for hospital based IT spending. Hill cut his price target on Cerner to $50 from $58 and on Allscripts to $11 from $14.
12/01/16
12/01/16
DOWNGRADE
Target $50

Market Perform
Cerner downgraded to Market Perform at Leerink
As previously reported, Leerink analyst David Larsen downgraded Cerner to Market Perform from Outperform as he believes there are several macro-headwinds putting pressure on the company's business model that he does not expect to alleviate any time soon. The analyst notes that these headwinds include a sharp slow-down in growth due to the end of Meaningful Use, incremental cost pressure and uncertainty on providers and physicians due to the possible repeal of the Affordable Care Act from the new Trump administration. Larsen also lowered is price target on the shares to $50 from $65.
11/17/16
KEYB
11/17/16
NO CHANGE
KEYB
Cerner outlook still positive, says KeyBanc
KeyBanc analyst Donald Hooker says that President-elect Trump's victory "creates near-term uncertainty for Cerner's population health businesses." However, the analyst expects the company's revenue cycle businesses to continue to grow by at least 10%. He predicts that the company will exploit the Trump Administration's more favorable stance towards drug development by providing information to life sciences companies. He keeps a $77 price target and an Outperform rating on the shares.
12/01/16
LEER
12/01/16
DOWNGRADE
LEER
Market Perform
Cerner downgraded to Market Perform from Outperform at Leerink
MCD McDonald's
$118.15

-1.125 (-0.94%)

12/01/16
12/01/16
DOWNGRADE

Neutral
McDonald's downgraded to Neutral on valuation, macro headwinds at Guggenheim
As previously reported, Guggenheim downgraded McDonald's to Neutral from Buy and maintained its $127 price target. Analyst Matthew DiFirsco sees limited upside to current valuation and increased potential macro headwinds from rising gasoline prices, and the impact from higher interest rates on franchise investment. Further, the analyst increased risk to 2017 earnings upside due to US dollar appreciation and maintains his outlook for near-term negative US same-store-sales.
12/01/16
GUGG
12/01/16
DOWNGRADE
GUGG
Neutral
McDonald's downgraded to Neutral from Buy at Guggenheim
11/21/16
JPMS
11/21/16
NO CHANGE
Target $127
JPMS
Overweight
McDonald's removed from Analyst Focus List at JPMorgan
JPMorgan analyst John Ivankoe removed McDonald's from his firm's Analyst Focus List citing a less positive stance on the shares following the company's event in Australia. The analyst believes share upside is becoming more limited. He keeps an Overweight rating on McDonald's with a $127 price target.
11/29/16
FBCO
11/29/16
NO CHANGE
FBCO
Outperform
McDonald's removed from Focus List at Credit Suisse
Credit Suisse analyst Jason West removed McDonald's from the Focus List citing higher valuation, limited near-term catalysts, and limited benefits from Trump's stated goals to lower corporate/consumer taxes. West rates McDonald's an Outperform with a $128 price target.
WEN Wendy's
$12.57

-0.31 (-2.41%)

12/01/16
GUGG
12/01/16
DOWNGRADE
GUGG
Neutral
Wendy's downgraded to Neutral from Buy at Guggenheim
Guggenheim analyst Matthew DiFrisco downgraded Wendy's to Neutral citing limited upside to current valuation, increased potential macro headwinds from rising gasoline prices, and the impact from higher interest rates on franchise investment near-term. DiFrisco continues to view franchisee adoption of Image Activation falling short of management's 60% target as the greatest risk to valuation.
11/29/16
11/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
On The Fly: Top five analyst downgrades: 1. Wendy's (WEN) downgraded to Neutral from Buy at Goldman with analyst Karen Holthouse citing valuation with the stock up 23% over the past month. 2. SAIC (SAIC) downgraded to Neutral from Buy at Citi with analyst Jonathan Raviv citing the recent rally in the shares and some overhang from the pending contract transition. 3. BioMarin (BMRN), Johnson & Johnson (JNJ), and Vertex (VRTX) were downgraded to Equal Weight from Overweight at Barclays. 4. Nivalis Therapeutics (NVLS) downgraded to Market Perform Raymond James, to Hold from Buy at Stifel, to Market Perform from Outperform at Cowen, and to Neutral from Outperform at Baird. 5. U.S. Steel (X) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/16
GSCO
11/28/16
DOWNGRADE
GSCO
Neutral
Wendy's downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Karen Holthouse downgraded Wendy's to Neutral citing valuation with the stock up 23% over the past month. The analyst views the current risk/reward as balanced and keeps a $12.50 price target for the shares.
11/25/16
ARGS
11/25/16
UPGRADE
Target $15
ARGS
Buy
Wendy's upgraded to Buy from Hold at Argus
Argus analyst John Staszak upgraded Wendy's to Buy with a $15 price target saying the company has revitalized its brand over the last three years by selling more than 800 company-owned restaurants. The sale of these restaurants has boasted free cash flow as franchisees are responsible for most capital expenditures and sale proceeds are providing capital for share buybacks and dividend increases, the analyst wrote. Staszak said by year end, franchisees will own 95% of all Wendy's restaurants and only 5% will be company-owned. The company and franchisees have remodeled 30% of restaurants, which are generating significantly greater revenue than older locations, Staszak said.
Q symbol changed to IQV
$74.07

-2.76 (-3.59%)

12/01/16
12/01/16
DOWNGRADE

Market Perform
QuintilesIMS downgraded to Market Perform at William Blair
As previously reported, William Blair analyst John Kreger downgraded QuintilesIMS to Market Perform from Outperform, citing concerns about the legacy Quintiles core CRO business. Transitional issues could keep bookings softer, which could limit revenue growth over the next one to two years, warned Kreger, who added that he still thiks the merger of IMS and Quintiles makes strategic sense as data become increasingly important.
12/01/16
WBLR
12/01/16
DOWNGRADE
WBLR
Market Perform
QuintilesIMS downgraded to Market Perform from Outperform at William Blair
12/01/16
12/01/16
DOWNGRADE

Market Perform
QuintilesIMS downgraded to Market Perform from Strong Buy at Raymond James
Raymond James analyst Michael Baker downgraded QuintilesIMS to Market Perform from Strong Buy citing product development challenges and integration risks. The analyst said QuintilesIMS Product Development as-contracted book-to-bill was "underwhelming" at .95x for Q3 and soft new business awards, the loss of Takeda to PRA Health Sciences, and recent cancellations will impact results over the next few quarters. Further, the combination of the central labs and the CRO will likely take longer than expected, the analyst wrote.
11/30/16
LEHM
11/30/16
INITIATION
Target $90
LEHM
Overweight
QuintilesIMS reinstated with an Overweight at Barclays
Barclays analyst Douglas Tsao reinstated QuintilesIMS with an Overweight and a $90 price target.
NOV National Oilwell
$38.43

1.07 (2.86%)

10/03/16
SBSH
10/03/16
DOWNGRADE
Target $30
SBSH
Sell
National Oilwell downgraded to Sell from Neutral at Citi
Citi analyst Scott Gruber downgraded National Oilwell to Sell and cut his price target to $30 from $37 citing recent share strength and expectations estimates will fall materially in Q4 and 2017, compressing the multiple. Gruber reduced his already below Street estimates to reflect a lower bottom in active floating rig count and limited end market improvement.
12/01/16
GHSC
12/01/16
DOWNGRADE
Target $34
GHSC
Sell
National Oilwell downgraded to Sell from Neutral at Seaport Global
Seaport analyst Richard Hastings downgraded National Oilwell to Sell with a $34 price target citing premium valuation.
10/31/16
SOCG
10/31/16
UPGRADE
SOCG
Hold
National Oilwell upgraded to Hold from Sell at Societe Generale
11/07/16
SBSH
11/07/16
UPGRADE
SBSH
Neutral
National Oilwell upgraded to Neutral from Sell at Citi

TODAY'S FREE FLY STORIES

JMBA

Jamba

$9.14

-0.01 (-0.11%)

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FULT

Fulton Financial

$18.65

0.1 (0.54%)

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Earnings
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AMGN

Amgen

$192.33

3.05 (1.61%)

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AMGN

Amgen

$192.33

3.05 (1.61%)

16:34
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Breaking Hot Stocks news story on Amgen »

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FL

Foot Locker

$50.37

0.16 (0.32%)

16:32
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Foot Locker makes strategic investment in Carbon38 »

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EPE

EP Energy

$2.48

0.17 (7.36%)

16:32
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EP Energy sees FY18 $600M-$650M of oil and gas expenditures, »

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DRI

Darden

$98.06

-0.98 (-0.99%)

16:31
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Hot Stocks
Darden names Dave George as COO »

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RAD

Rite Aid

$2.29

-0.02 (-0.87%)

, WBA

Walgreens Boots Alliance

$77.40

0.93 (1.22%)

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Rite Aid provides update on sale of assets to Walgreens Boots Alliance »

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RAD

Rite Aid

$2.29

-0.02 (-0.87%)

WBA

Walgreens Boots Alliance

$77.40

0.93 (1.22%)

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ZION

Zions Bancorp

$54.16

0.43 (0.80%)

16:30
01/22/18
01/22
16:30
01/22/18
16:30
Earnings
Zions Bancorp reports Q4 adjusted EPS 80c, consensus 73c »

Harris H. Simmons,…

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  • 22

    Jan

EPE

EP Energy

$2.48

0.17 (7.36%)

16:30
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Hot Stocks
EP Energy reports preliminary FY17 production results of 82,300MBoe/d »

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16:30
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Options
Preliminary option volume of 20.3M today »

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RMD

ResMed

$87.51

-1.17 (-1.32%)

16:30
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Hot Stocks
Breaking Hot Stocks news story on ResMed »

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  • 22

    Jan

EMR

Emerson

$73.26

0.12 (0.16%)

16:29
01/22/18
01/22
16:29
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16:29
Initiation
Emerson initiated  »

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  • 06

    Feb

JUNO

Juno Therapeutics

$86.00

18.19 (26.83%)

, CELG

Celgene

$102.91

0.26 (0.25%)

16:28
01/22/18
01/22
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01/22/18
16:28
Downgrade
Juno Therapeutics, Celgene rating change  »

Juno Therapeutics…

JUNO

Juno Therapeutics

$86.00

18.19 (26.83%)

CELG

Celgene

$102.91

0.26 (0.25%)

03/08/13
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  • 22

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HSGX

Histogenics

16:28
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Syndicate
Breaking Syndicate news story on Histogenics »

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  • 26

    Feb

TD

Toronto-Dominion

$59.72

0.47 (0.79%)

, AMTD

TD Ameritrade

$55.88

0.71 (1.29%)

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TD Bank Group comments on expected impact of TD Ameritrade's Q1 earnings »

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TD

Toronto-Dominion

$59.72

0.47 (0.79%)

AMTD

TD Ameritrade

$55.88

0.71 (1.29%)

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VR

Validus

$67.29

20.57 (44.03%)

, AIG

AIG

$61.00

-0.55 (-0.89%)

16:26
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VR

Validus

$67.29

20.57 (44.03%)

AIG

AIG

$61.00

-0.55 (-0.89%)

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PRK

Park National

$107.18

-0.82 (-0.76%)

16:25
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Earnings
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FBK

FB Financial

$43.82

0.13 (0.30%)

16:25
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Earnings
FB Financial reports Q4 adjusted EPS 60c, consensus 53c »

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NBTB

NBT Bancorp

$37.79

0.08 (0.21%)

16:24
01/22/18
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16:24
Earnings
NBT Bancorp reports Q4 EPS 50c, consensus 67c »

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PFBC

Preferred Bank

$65.89

-1.05 (-1.57%)

16:22
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Earnings
Preferred Bank reports Q4 EPS 52c, consensus 88c »

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PAA

Plains All American

$23.05

0.56 (2.49%)

16:21
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DOV

Dover

$104.84

0.43 (0.41%)

16:21
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16:21
Initiation
Dover initiated  »

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ESTE

Earthstone Energy

$11.29

0.04 (0.36%)

16:20
01/22/18
01/22
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16:20
Hot Stocks
Earthstone Energy sees FY18 CapEx $170M »

Sees FY18 average daily…

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  • 15

    May

IEX

IDEX Corp.

$137.71

-0.64 (-0.46%)

16:20
01/22/18
01/22
16:20
01/22/18
16:20
Initiation
IDEX Corp. initiated  »

IDEX Corp. initiated with…

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  • 30

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