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USB

U.S. Bancorp

$52.05

-0.125 (-0.24%)

, WFC

Wells Fargo

$55.65

-0.06 (-0.11%)

12:08
12/22/16
12/22
12:08
12/22/16
12:08

Icahn says banks have too many regulations

Carl Icahn is speaking on CNBC. Publicly traded U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).

USB

U.S. Bancorp

$52.05

-0.125 (-0.24%)

WFC

Wells Fargo

$55.65

-0.06 (-0.11%)

MS

Morgan Stanley

$42.97

-0.4 (-0.92%)

BAC

Bank of America

$22.51

-0.125 (-0.55%)

GS

Goldman Sachs

$240.12

-1.32 (-0.55%)

C

Citi

$60.52

-0.235 (-0.39%)

JPM

JPMorgan

$86.55

-0.2 (-0.23%)

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    Jan

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    Jan

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    Jan

  • 28

    Feb

  • 14

    Jul

  • 12

    Oct

USB U.S. Bancorp
$52.05

-0.125 (-0.24%)

12/21/16
ATLE
12/21/16
DOWNGRADE
ATLE
Neutral
U.S. Bancorp downgraded to Neutral from Overweight at Atlantic Equities
12/21/16
12/21/16
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. Procter & Gamble (PG) downgraded to Hold from Buy at Stifel with analyst Astrachan citing "recent negative FX movement, moderate anticipated input cost inflation, and continued heightened geopolitical uncertainty." 2. JetBlue (JBLU) downgraded to Market Perform from Outperform at Raymond James with analyst Savanthi Syth saying shares will be range bound near-term due to RASM pressures from capacity growth new market expansion, and increased cost inflation. 3. Barrick Gold (ABX) downgraded to Hold from Buy at TD Securities analyst Greg Barnes saying shares have significantly outperformed in 2016 and sees fewer company-specific catalysts in 2017. 4. New York Community Bancorp (NYCB) and Astoria Financial (AF) were downgraded to Underperform at FBR Capital. 5. Goldman Sachs (GS) and U.S. Bancorp (USB) were downgraded to Neutral from Overweight at Atlantic Equities. 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
SUSQ
12/01/16
DOWNGRADE
Target $53
SUSQ
Neutral
U.S. Bancorp downgraded to Neutral due to valuation at Susquehanna
As previously reported, Susquehanna downgraded U.S. Bancorp to Neutral from Positive and raised its price target to $53 from $51. Analyst Jack Micenko changed his view due to valuation and said most of the optimism around economic growth, higher rates, reduced regulation, and lower taxes is reflected in shares.
12/05/16
BARD
12/05/16
NO CHANGE
BARD
Baird suggests booking banking stock gains at current levels
Baird is telling investors to book banking stock gains at current levels as the shares are already discounting significant fundamental improvement in 2017 and 2018. The firm has raised estimates on its banking coverage to reflect benefits from rate increases and sees slight upside if corporate tax rates are lowered, but they remain skeptical the economy can absorb significant Fed tightening without slowing.
WFC Wells Fargo
$55.65

-0.06 (-0.11%)

12/01/16
SUSQ
12/01/16
DOWNGRADE
Target $56
SUSQ
Neutral
Wells Fargo downgraded to Neutral due to valuation at Susquehanna
As previously reported, Susquehanna downgraded Wells Fargo to Neutral from Positive and raised its price target to $56 from $53. Analyst Jack Micenko changed his view due to valuation and said most of the optimism around economic growth, higher rates, reduced regulation, and lower taxes is reflected in shares.
12/12/16
OPCO
12/12/16
NO CHANGE
OPCO
Outperform
Opco says 'let the bet ride' on bank stocks, ups price targets
Oppenheimer analyst Chris Kotowski says that while "one cannot remain as bullish on the group as when the stocks were cheap," investors should "let the bet ride" on bank stocks. The analyst maintains a "somewhat overweight stance" on the space, but points out the shares are getting more fully valued. Kotowski's favorite names remain Bank of America (BAC), Citi (C), CIT Group (CIT) and Goldman Sachs (GS). He raised his price target for Bank of America to $25 from $19, for Citi to $72 from $65 and for Goldman to $252 from $228.
12/14/16
JPMS
12/14/16
NO CHANGE
JPMS
Neutral
JPMorgan views Wells Fargo's Resolution Plan failure as significant
The failure of Wells Fargo's Resolution Plan is a "significant" issue with the potential for "material" consequences if Wells does not pass the next submission in March 2017, JPMorgan analyst Vivek Juneja tells investors in a research note. This adds to other issues that surfaced this week for Wells, including Prudential Financial no longer distributing insurance policies through Wells and FINRA opening up a hotline for the bank's brokers who were fired to report issues related to improper termination, the analyst contends. Juneja believes the issues add to Wells' reputational challenges and will likely pressure earnings by increasing expenses. He keeps a Neutral rating on the shares.
MS Morgan Stanley
$42.97

-0.4 (-0.92%)

12/21/16
12/21/16
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. Sunoco (SUN) upgraded to Outperform from Neutral at Credit Suisse with analyst John Edwards saying valuation is "underappreciated" and said a dividend cut is unlikely given options available for Sunoco and Energy Transfer Equity (ETE) to execute before reducing payouts. 2. BP (BP) and Statoil (STO) were upgraded to Buy from Neutral at UBS. 3. Citi (C) and Bank of America (BAC) were upgraded to Overweight from Neutral at Atlantic Equities while Morgan Stanley (MS) was upgraded to Neutral from Underweight. 4. Air Products (APD) upgraded to Buy from Neutral at Monness Crespi with the firm saying it thinks that Air Products will benefit from consolidation in the industry. It says that Air Products' balance sheet will enable it to "easily bid on and win new projects" and exploit divestitures in the sector. 5. Monster Beverage (MNST) upgraded to Buy from Hold at Jefferies with analyst Kevin Grundy calling the stock his top large cap growth pick in Consumer Products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/06/16
UBSW
12/06/16
NO CHANGE
Target $48
UBSW
Buy
Morgan Stanley valuation driven by improving investor sentiment, says UBS
UBS analyst Brennan Hawken met with Morgan Stanley management, who revealed they have an alternative plan to deal with the DOL fiduciary rule delay. The firm said they intend to push forward with a flat revenue sharing program, which will apply to both transactional and fee-based assets, resulting in greater resiliency of the revenues and modest tailwinds. Hawken believes the potential for improving investor risk appetite should drive a higher valuation. Hawken reiterated his Buy rating and $48 price target on Morgan Stanley shares.
12/21/16
ATLE
12/21/16
UPGRADE
ATLE
Neutral
Morgan Stanley upgraded to Neutral from Underweight at Atlantic Equities
BAC Bank of America
$22.51

-0.125 (-0.55%)

12/21/16
ATLE
12/21/16
UPGRADE
ATLE
Overweight
Bank of America upgraded to Overweight from Neutral at Atlantic Equities
12/15/16
12/15/16
UPGRADE
Target $26

Outperform
Bank of America upgraded to Outperform at Raymond James
As previously reported, Raymond James analyst Michael Rose upgraded Bank of America to Outperform from Market Perform, saying he views the stock as a general proxy for the health of the economy, for which he sees "better days ahead" under the Trump administration. Rose set a $26 price target on BofA shares.
12/21/16
ATLE
12/21/16
UPGRADE
Target $25
ATLE
Overweight
Bank of America upgraded due rising rates, lower taxes at Atlantic Equities
As previously reported, Atlantic Equities upgraded Bank of America to Overweight from Neutral with a $25 price target. Analyst Christopher Wheeler said Bank of America will be a major beneficiary of rising rates, strong capital markets, and potentially lower tax rates.
GS Goldman Sachs
$240.12

-1.32 (-0.55%)

12/21/16
ATLE
12/21/16
DOWNGRADE
ATLE
Neutral
Goldman Sachs downgraded to Neutral from Overweight at Atlantic Equities
12/21/16
12/21/16
DOWNGRADE
Target $240

Neutral
Goldman Sachs downgraded due to valuation at Atlantic Equities
As previously reported, Atlantic Equities downgraded Goldman Sachs to Neutral from Overweight. Analyst Christopher Wheeler said Goldman will be a major beneficiary of a better tone to capital markets post-election but said shares have rallied strongly through his $240 price target.
C Citi
$60.52

-0.235 (-0.39%)

12/21/16
ATLE
12/21/16
UPGRADE
ATLE
Overweight
Citi upgraded to Overweight from Neutral at Atlantic Equities
12/21/16
ATLE
12/21/16
UPGRADE
Target $70
ATLE
Overweight
Citi upgraded to Overweight on lower domestic taxes at Atlantic Equities
As previously reported, Atlantic Equities upgraded Citi to Overweight from Neutral with a $70 price target. Analyst Christopher Wheeler said Citi shares have lagged its peer group since the election due to lower relative domestic earnings but said the company will also benefit from lower domestic tax rates and expects shares to "catch up" in 2017.
JPM JPMorgan
$86.55

-0.2 (-0.23%)

11/11/16
RBCM
11/11/16
NO CHANGE
RBCM
Banks to benefit from higher interest rates, says RBC Capital
RBC Capital believes that the Fed is committed to raising interest rates, and it expects FOMC members' forecast to show they expect two rate increases to occur in 2017. The firm expects higher rates to boost banks' net interest margin, raising their profits. It identifies Bank of America (BAC), JPMorgan (JPM), Citizens Financial (CFG),M&T Bank (MTB), and Regions Financial (RF) as being among the banks most likely to benefit from short-term rate increases.
11/18/16
11/18/16
INITIATION
Target $65

Underweight
American Express initiated with an Underweight at Stephens
As previously reported, Stephens analyst started American Express (AXP) with an Underweight rating and $65 price target, citing rising rates, shrinking markets as American Express ramps up rewards to maintain share, and the risk to 2017 EPS guidance. The analyst expects competition from bank peers, such as JPMorgan (JPM) and Citi (C), to continue to pressure American Express' earnings.

TODAY'S FREE FLY STORIES

ATUS

Altice USA

$20.48

0.62 (3.12%)

13:45
11/20/17
11/20
13:45
11/20/17
13:45
Conference/Events
Morgan Stanley European telecom analysts hold analyst/industry conference call »

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HBI

Hanesbrands

$19.64

0.14 (0.72%)

13:40
11/20/17
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13:40
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13:40
Options
Higher option volume in Hanesbrands driven by a call spread »

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LLL

L3 Technologies

$188.16

3.77 (2.04%)

13:30
11/20/17
11/20
13:30
11/20/17
13:30
Initiation
L3 Technologies initiated  »

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  • 28

    Nov

RXDX

Ignyta

$14.90

0.05 (0.34%)

13:30
11/20/17
11/20
13:30
11/20/17
13:30
Initiation
Ignyta initiated  »

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  • 28

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BKD

Brookdale Senior Living

$10.43

0.01 (0.10%)

13:30
11/20/17
11/20
13:30
11/20/17
13:30
Options
Bullish option play in Brookdale Senior Living »

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03/08/13
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ADI

Analog Devices

$90.42

-0.06 (-0.07%)

13:26
11/20/17
11/20
13:26
11/20/17
13:26
Technical Analysis
Technical View: Analog Devices hits new 52-week high »

The stock is up over 3.6%…

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  • 21

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    Jan

CVS

CVS Health

$70.05

-0.63 (-0.89%)

, AET

Aetna

$174.65

1.45 (0.84%)

13:25
11/20/17
11/20
13:25
11/20/17
13:25
Periodicals
CVS, Aetna could reach deal by end of November, WSJ reports »

Amazon (AMZN) threat is…

CVS

CVS Health

$70.05

-0.63 (-0.89%)

AET

Aetna

$174.65

1.45 (0.84%)

AMZN

Amazon.com

$1,129.88

-7.41 (-0.65%)

FB

Facebook

$179.00

-0.59 (-0.33%)

GOOG

Alphabet

$1,019.09

-13.41 (-1.30%)

GOOGL

Alphabet Class A

$1,035.89

-12.58 (-1.20%)

NFLX

Netflix

$193.20

-2.31 (-1.18%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 20

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AMC

AMC Entertainment

$12.63

-0.32 (-2.47%)

13:25
11/20/17
11/20
13:25
11/20/17
13:25
Options
AMC Entertainment call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 29

    Nov

13:25
11/20/17
11/20
13:25
11/20/17
13:25
Conference/Events
Cowen consumer analyst holds an analyst/industry conference call »

Consumer: Beverages,…

AUPH

Aurinia Pharmaceuticals

$5.14

-0.05 (-0.96%)

13:18
11/20/17
11/20
13:18
11/20/17
13:18
Conference/Events
Aurinia Pharmaceuticals management to meet with Seaport Global »

Meetings to be held in…

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03/08/13
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03/06/13
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  • 20

    Nov

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    Nov

$NSD

NASDAQ Market Internals

13:17
11/20/17
11/20
13:17
11/20/17
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
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$NYE

NYSE Market Internals

13:16
11/20/17
11/20
13:16
11/20/17
13:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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EA

Electronic Arts

$108.82

-2.78 (-2.49%)

13:12
11/20/17
11/20
13:12
11/20/17
13:12
Periodicals
EA's 'Battlefront 2' physical sales 60% lower than 'Battlefront,' Eurogamer says »

Electronic Arts'…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 27

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    Jan

GES

Guess

$17.30

-0.36 (-2.04%)

13:10
11/20/17
11/20
13:10
11/20/17
13:10
Options
Defensive option play in Guess ahead of earnings »

Defensive option play in…

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03/08/13
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03/06/13
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13:10
11/20/17
11/20
13:10
11/20/17
13:10
General news
FX Action: USD-JPY »

FX Action: USD-JPY has…

RGC

Regal Entertainment

$15.83

-0.34 (-2.10%)

13:05
11/20/17
11/20
13:05
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13:05
Options
Regal Entertainment call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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MMM

3M

$233.21

3.85 (1.68%)

13:03
11/20/17
11/20
13:03
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13:03
Periodicals
Minn. seeks to add punitive damages to 3M suit, Bloomberg reports »

Minnesota State Attorney…

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  • 28

    Nov

MDT

Medtronic

$79.36

-0.13 (-0.16%)

, LOW

Lowe's

$81.60

1.38 (1.72%)

12:59
11/20/17
11/20
12:59
11/20/17
12:59
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

MDT

Medtronic

$79.36

-0.13 (-0.16%)

LOW

Lowe's

$81.60

1.38 (1.72%)

ADI

Analog Devices

$90.42

-0.06 (-0.07%)

DLTR

Dollar Tree

$94.61

-0.02 (-0.02%)

HRL

Hormel Foods

$33.28

0.16 (0.48%)

CPB

Campbell Soup

$50.29

0.57 (1.15%)

BURL

Burlington Stores

$105.94

1.21 (1.16%)

SIG

Signet Jewelers

$76.49

-0.09 (-0.12%)

DSW

DSW

$22.42

0.27 (1.22%)

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  • 21

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  • 01

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CMPR

Cimpress

$122.17

3.09 (2.59%)

12:58
11/20/17
11/20
12:58
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12:58
Conference/Events
Cimpress management to meet with SunTrust »

Meeting to be held in New…

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  • 20

    Nov

INTU

Intuit

$156.55

0.9 (0.58%)

, A

Agilent

$69.52

0.73 (1.06%)

12:58
11/20/17
11/20
12:58
11/20/17
12:58
Earnings
Notable companies reporting after market close »

Notable companies…

INTU

Intuit

$156.55

0.9 (0.58%)

A

Agilent

$69.52

0.73 (1.06%)

PANW

Palo Alto Networks

$142.68

-0.04 (-0.03%)

URBN

Urban Outfitters

$27.90

1.45 (5.48%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
Barclays

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  • 20

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  • 17

    Jan

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    Jan

BBY

Best Buy

$56.62

0.79 (1.42%)

12:52
11/20/17
11/20
12:52
11/20/17
12:52
Conference/Events
Best Buy management to meet with SunTrust »

Group dinner to be held…

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03/06/13
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  • 20

    Nov

  • 20

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    Nov

POST

Post Holdings

$81.06

0.11 (0.14%)

12:50
11/20/17
11/20
12:50
11/20/17
12:50
Recommendations
Post Holdings analyst commentary  »

Post Holdings price…

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KO

Coca-Cola

$45.71

-0.005 (-0.01%)

12:50
11/20/17
11/20
12:50
11/20/17
12:50
Options
Call buyers in Coke after an Investor Day »

Call buyers in Coke after…

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AFSI

AmTrust

$9.05

-0.06 (-0.66%)

12:48
11/20/17
11/20
12:48
11/20/17
12:48
Conference/Events
AmTrust management to meet with SunTrust »

Meeting to be held in…

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  • 20

    Nov

TAL

TAL Education

$28.53

-1.23 (-4.13%)

12:45
11/20/17
11/20
12:45
11/20/17
12:45
Options
Tal Education Group call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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