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JPM

JPMorgan

$86.24

-0.84 (-0.96%)

, WFC

Wells Fargo

$54.50

-0.3 (-0.55%)

20:25
01/12/17
01/12
20:25
01/12/17
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include JPMorgan (JPM), consensus $1.44... Wells Fargo (WFC), consensus $1... Bank of America (BAC), consensus 38c... BlackRock (BLK), consensus $5.04... PNC Financial (PNC), consensus $1.84... Infosys (INFY), consensus 23c... First Republic Bank (FRC), consensus $1.01... First Horizon National (FHN), consensus 25c.

JPM

JPMorgan

$86.24

-0.84 (-0.96%)

WFC

Wells Fargo

$54.50

-0.3 (-0.55%)

BAC

Bank of America

$22.92

-0.15 (-0.65%)

BLK

BlackRock

$378.29

-2.66 (-0.70%)

PNC

PNC Financial

$117.93

-2.85 (-2.36%)

INFY

Infosys

$15.25

0.06 (0.39%)

FRC

First Republic

$91.85

-0.64 (-0.69%)

FHN

First Horizon

$20.27

-0.31 (-1.51%)

  • 12

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    Jan

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    Jan

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    Apr

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    Jul

  • 12

    Oct

JPM JPMorgan
$86.24

-0.84 (-0.96%)

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.
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.
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.
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.
WFC Wells Fargo
$54.50

-0.3 (-0.55%)

01/10/17
SBSH
01/10/17
DOWNGRADE
Target $225
SBSH
Sell
Goldman Sachs downgraded to Sell from Neutral at Citi
Citi analyst Keith Horowitz downgraded Goldman Sachs (GS) to Sell with a $225 price target, representing 6% downside from current levels. While higher interest rates benefit fixed income trading, the path is "relatively uncertain and the bar is relatively high" for Goldman, Horowitz tells investors in a research note. The analyst believes U.S. bank stocks do not offer compelling risk/reward profiles following the recent rally. Horowitz this morning also downgraded Comerica (CMA) to Sell while keeping Buy ratings on Wells Fargo (WFC) and Bank of America (BAC).
01/03/17
BARD
01/03/17
NO CHANGE
Target $58
BARD
Outperform
Wells Fargo a favorite bank to buy on weakness at Baird
Baird analyst David George believes the risk/reward for the banks is not attractive, as he thinks the increase in interest rates is already discounted into banking shares as investor sentiment is pervasively bullish, which has resulted in a poor setup for the banks heading into 2017. However, he would be a buyer of Wells Fargo on any weakness. George maintained his Outperform rating and $58 price target on Wells Fargo shares.
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.
BAC Bank of America
$22.92

-0.15 (-0.65%)

01/09/17
WELS
01/09/17
NO CHANGE
WELS
Bank of America added to Priority Stock List at Wells Fargo
Wells Fargo added Bank of America to its Priority Stock List and identifies it as its top pick among large cap banks. The firm has "growing confidence" that the bank can benefit from multiple catalysts, including higher rates, prudent balance sheet growth, capital market improvement, and cost reductions.
01/11/17
UBSW
01/11/17
DOWNGRADE
Target $23
UBSW
Neutral
Bank of America downgraded to Neutral from Buy at UBS
UBS analyst Saul Martinez downgraded Bank of America after assuming coverage of the name. The analyst views the valuation as full following the stock's outperformance since interest rates troughed in mid- 2016. He lowered his price target for the shares to $23 from $24.
01/11/17
SOCG
01/11/17
UPGRADE
SOCG
Buy
Bank of America upgraded to Buy from Hold at Societe Generale
BLK BlackRock
$378.29

-2.66 (-0.70%)

01/04/17
GSCO
01/04/17
DOWNGRADE
GSCO
Neutral
BlackRock downgraded to Neutral from Buy at Goldman
Goldman analyst Alexander Blostein downgraded BlackRock to Neutral with a $403 price target citing valuation and modest near-term earnings risks from a negative mix shift in its AUM and rising rates creating choppier near-term conditions for fixed income flows.
07/15/16
KBWI
07/15/16
DOWNGRADE
Target $383
KBWI
Market Perform
BlackRock downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Robert Lee downgraded BlackRock to Market Perform saying the company's "strong organic growth prospects" are largely priced into the shares at current levels. The analyst lowered his price target for the shares to $383 from $390 following BlackRock's Q2 results.
10/14/16
DBAB
10/14/16
DOWNGRADE
Target $32
DBAB
Hold
Invesco downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded Invesco (IVZ) to Hold saying implementation of the Department of Labor rule in Q4 and Q1 will drive accelerating outflows in active mutual fund products. The analyst lowered his price target for the shares to $32 from $36. Bedell now favors BlackRock (BLK) in the Asset Managers space although he did lower his price target for the name to $416 from $418.
08/08/16
GSCO
08/08/16
DOWNGRADE
GSCO
Buy
BlackRock downgraded to Buy from Conviction Buy at Goldman
Goldman analyst Alexander Blostein removed BlackRock from the Conviction Buy List given expectations for a deceleration in near-term organic fee rate growth, which will limit multiple expansion. The analyst maintains his Buy rating and $400 price target saying BlackRock will deliver industry leading organic growth, but a more difficult mix shift could pressure the firm's overall fee rate/organic revenue growth.
PNC PNC Financial
$117.93

-2.85 (-2.36%)

01/11/17
UBSW
01/11/17
INITIATION
Target $128
UBSW
Neutral
PNC Financial initiated with a Neutral at UBS
UBS analyst Saul Martinez started PNC Financial with a Neutral rating and $128 price target.
10/17/16
10/17/16
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. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham. 2. AMD (AMD) upgraded to Perform from Underperform at Oppenheimer with analyst Rick Schafer citing lower balance sheet risk and improved near-term sales trends ahead of the company's third quarter results. 3. Groupon (GRPN) upgraded to Outperform from Neutral at Wedbush with analyst Aaron Turner saying he expects the company's "large valuation discrepancy" relative to peers to close following its third quarter earnings report. 4. Michael Kors KORS) upgraded to Mixed from Negative at OTR Global. 5. PNC Financial (PNC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar saying PNC is well positioned to benefit from rising rates and it is making progress on a range of strategic initiatives, including expansion in the Southeast and in the Chicago area, where increased brand awareness has led to good growth in both retail and commercial banking. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/16
BOFA
10/25/16
NO CHANGE
BOFA
PNC Financial added to US 1 List, First Republic removed at BofA/Merrill
11/29/16
KBWI
11/29/16
DOWNGRADE
Target $114
KBWI
Market Perform
PNC Financial downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Brian Klock downgraded PNC Financial to Market Perform citing valuation with the shares up 30% since August 15. The analyst raised his price target for the shares to $114 from $98.
INFY Infosys
$15.25

0.06 (0.39%)

01/04/17
UBSW
01/04/17
UPGRADE
UBSW
Neutral
Infosys upgraded to Neutral from Sell at UBS
01/06/17
LYON
01/06/17
DOWNGRADE
LYON
Underperform
Infosys downgraded to Underperform from Outperform at CLSA
12/01/16
BOFA
12/01/16
DOWNGRADE
BOFA
Neutral
Infosys downgraded to Neutral from Buy at BofA/Merrill
11/11/16
11/11/16
NO CHANGE

Infosys invests in TidalScale
Infosys has made an investment in TidalScale, a provider of Software-Defined Servers that deliver in-memory performance at any scale, are self-optimizing, use standard hardware, and are compatible with all applications and operating systems. The investment will be completed on or before November 24.
FRC First Republic
$91.85

-0.64 (-0.69%)

11/16/16
11/16/16
DOWNGRADE

Equal Weight
First Republic downgraded to Equal Weight on valuation at Morgan Stanley
As previously reported, Morgan Stanley downgraded First Republic to Equal Weight from Overweight and reduced its Midcap Bank industry view to Cautious. Analyst Ken Zerbe said First Republic has outperformed peers year-to-date and views shares as fairly valued. Zerbe raised his price target on First Republic to $85 from $77.
12/20/16
12/20/16
UPGRADE
Target $100

Outperform
First Republic upgraded to Outperform from Market Perform at FBR Capital
FBR Capital analyst Paul Miller upgraded First Republic to Outperform saying the company is growing assets and earnings at an accelerated pace relative to peers. The analyst raised his price target for the shares to $100 from $85.
12/19/16
MAXM
12/19/16
NO CHANGE
MAXM
Maxim raises FY17 estimates, targets for several regional banks
Maxim analyst Michael Diana raised his price targets and 2017 EPS estimates for a number of small to mid-cap regional banks - including Access National (ANCX), Cullen/Frost (CFR), ConnectOne Bancorp (CNOB), Customers Bancorp (CUBI), First Community Financial Partners (FCFP), First Republic (FRC), County Bancorp (ICBK), M B T Financial (MBTF), Nicolet Bankshares (NCBS), QCR Holdings (QCRH), SVB Financial (SIVB), Sterling Bancorp (STL) TriState Capital (TSC) - citing interest rate hikes and rising valuations amid expectations for faster economic growth and lower regulatory burdens. He notes, however, that his revised 2017 EPS estimates assume fewer than three Fed rate hikes in 2017.
01/09/17
WELS
01/09/17
DOWNGRADE
WELS
Market Perform
First Republic downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Jared Shaw downgraded First Republic to Market Perform citing the stock's "high" valuation. The analyst raised his price target range for the shares to $89-$91 from $84-$86.
FHN First Horizon
$20.27

-0.31 (-1.51%)

01/09/17
WELS
01/09/17
UPGRADE
WELS
Market Perform
First Horizon upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo analyst Jared Shaw upgraded First Horizon to Market Perform citing a better outlook for economic growth as well as his expectations for four rate hikes over the next 24 months. The analyst raised his price target range for the shares to $18-$20 from $14-$15.
11/28/16
JEFF
11/28/16
UPGRADE
Target $22
JEFF
Buy
First Horizon upgraded to Buy from Hold at Jefferies
Jefferies analyst Casey Haire upgraded First Horizon National saying the shares do not fully reflect upside potential from a better environment for capital markets activity. The analyst raised his price target for the shares to $22 from $18.
01/05/17
JPMS
01/05/17
UPGRADE
Target $24
JPMS
Overweight
First Horizon upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Steven Alexopoulos upgraded First Horizon National to Overweight saying the rising interest rate environment should drive peer leading earnings growth in 2017 and beyond. The analyst raised his price target for the shares to $24 from $20.
12/15/16
BOFA
12/15/16
UPGRADE
Target $21
BOFA
Neutral
First Horizon upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Erika Najarian upgraded First Horizon to Neutral and raised its price target to $21 from $16 citing an improved outlook for growth from rising rates, a stronger economic outlook, lower taxes, and potential deregulation but said shares are fully valued.

TODAY'S FREE FLY STORIES

08:56
12/12/17
12/12
08:56
12/12/17
08:56
General news
Redbook Store Sales data reported »

Week of 12/9 Redbook…

BAC

Bank of America

$28.94

-0.11 (-0.38%)

, T

AT&T

$36.90

0.17 (0.46%)

08:55
12/12/17
12/12
08:55
12/12/17
08:55
Options
Notable open interest changes for December 12th »

Monday's total…

BAC

Bank of America

$28.94

-0.11 (-0.38%)

T

AT&T

$36.90

0.17 (0.46%)

AAPL

Apple

$172.67

3.3 (1.95%)

MU

Micron

$43.01

-0.2 (-0.46%)

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

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  • 19

    Dec

  • 09

    Jan

08:55
12/12/17
12/12
08:55
12/12/17
08:55
General news
Treasury Action: yields extended their rise »

Treasury Action: yields…

HI

Hillenbrand

$45.10

-0.45 (-0.99%)

08:55
12/12/17
12/12
08:55
12/12/17
08:55
Conference/Events
Hillenbrand to host investor day »

Investor Day to be held…

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

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  • 12

    Dec

ARGX

Argenx

$54.47

24.02 (78.88%)

08:54
12/12/17
12/12
08:54
12/12/17
08:54
Technical Analysis
Technical View: Argenx falls after filing to sell $150M in ADSs »

In premarket trading the…

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

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URBN

Urban Outfitters

$32.27

-0.82 (-2.48%)

08:53
12/12/17
12/12
08:53
12/12/17
08:53
Recommendations
Urban Outfitters analyst commentary  »

Urban Outfitters price…

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

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  • 08

    Jan

H

Hyatt

$71.90

-0.39 (-0.54%)

08:53
12/12/17
12/12
08:53
12/12/17
08:53
Syndicate
Hyatt 2.7M share Block Trade priced at $71.00 »

The deal priced at the…

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

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  • 25

    Mar

  • 12

    Dec

AGN

Allergan

$172.76

4.96 (2.96%)

08:53
12/12/17
12/12
08:53
12/12/17
08:53
Hot Stocks
Allergan receives FDA clearance for CoolSculpting treatment »

Allergan announced that…

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

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  • 25

    Mar

GRMN

Garmin

$61.96

-0.31 (-0.50%)

08:52
12/12/17
12/12
08:52
12/12/17
08:52
Recommendations
Garmin analyst commentary  »

Garmin price target…

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

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08:50
12/12/17
12/12
08:50
12/12/17
08:50
General news
FX Action: The dollar »

FX Action: The dollar…

ESL

Esterline

$70.80

0.95 (1.36%)

08:49
12/12/17
12/12
08:49
12/12/17
08:49
Recommendations
Esterline analyst commentary  »

Esterline price target…

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

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BA

Boeing

$283.16

-2.74 (-0.96%)

08:48
12/12/17
12/12
08:48
12/12/17
08:48
Recommendations
Boeing analyst commentary  »

Boeing price target…

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

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RYCEY

Rolls-Royce

$11.08

-0.145 (-1.29%)

08:46
12/12/17
12/12
08:46
12/12/17
08:46
Hot Stocks
Rolls-Royce launches R2 Data Labs to accelerate data innovation »

Rolls-Royce has launched…

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

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AAOI

Applied Optoelectronics

$40.52

1.83 (4.73%)

, ROKU

Roku

$47.98

3.19 (7.12%)

08:45
12/12/17
12/12
08:45
12/12/17
08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

AAOI

Applied Optoelectronics

$40.52

1.83 (4.73%)

ROKU

Roku

$47.98

3.19 (7.12%)

RSX

Market Vectors Russia ETF

$22.01

0.44 (2.04%)

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

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HIBB

Hibbett Sports

$20.20

0.05 (0.25%)

08:43
12/12/17
12/12
08:43
12/12/17
08:43
Technical Analysis
Technical View: Hibbett Sports moves higher on light volume »

In pre-market trading the…

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

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V

Visa

$112.37

-0.23 (-0.20%)

08:42
12/12/17
12/12
08:42
12/12/17
08:42
Periodicals
Visa innovation chief had history of employee affairs before firing, Recode says »

Former Visa executive Jim…

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

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  • 19

    Dec

ATRO

Astronics

$42.06

-1.19 (-2.75%)

08:40
12/12/17
12/12
08:40
12/12/17
08:40
Recommendations
Astronics analyst commentary  »

Astronics price target…

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

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08:40
12/12/17
12/12
08:40
12/12/17
08:40
General news
U.S. headline PPI rose 0.4% in November with the core rate up 0.3% »

U.S. headline PPI rose…

08:40
12/12/17
12/12
08:40
12/12/17
08:40
General news
Breaking General news story  »

Week of 12/9 Redbook to…

PEGI

Pattern Energy

08:38
12/12/17
12/12
08:38
12/12/17
08:38
Downgrade
Pattern Energy rating change  »

Pattern Energy downgraded…

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

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PTLA

Portola Pharmaceuticals

$51.78

-1.24 (-2.34%)

08:38
12/12/17
12/12
08:38
12/12/17
08:38
Hot Stocks
Portola Pharmaceuticals: CHMP requests additional information for betrixaban MAA »

Portola Pharmaceuticals…

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

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  • 02

    Feb

08:38
12/12/17
12/12
08:38
12/12/17
08:38
Conference/Events
House Energy & Commerce Committee to hold a hearing »

The Subcommittee on…

SINA

Sina

$99.59

2.57 (2.65%)

, WB

Weibo

$104.00

3.76 (3.75%)

08:37
12/12/17
12/12
08:37
12/12/17
08:37
Periodicals
Sina to sell gaming subsidiary stake to Whole Easy, Mijiao, Marbridge Daily says »

Whole Easy Internet…

SINA

Sina

$99.59

2.57 (2.65%)

WB

Weibo

$104.00

3.76 (3.75%)

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

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TIK

Tel-Instrument

$2.30

-0.05 (-2.13%)

08:35
12/12/17
12/12
08:35
12/12/17
08:35
Hot Stocks
Tel-Instrument announces over $1M in new orders »

Tel-Instrument…

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

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NEP

NextEra Energy Partners

$39.47

-0.62 (-1.55%)

08:34
12/12/17
12/12
08:34
12/12/17
08:34
Upgrade
NextEra Energy Partners rating change  »

NextEra Energy Partners…

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

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