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WDAY

Workday

$83.82

-6.367 (-7.06%)

, EXEL

Exelixis

$23.09

1.4 (6.45%)

10:22
02/28/17
02/28
10:22
02/28/17
10:22

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Workday (WDAY) downgraded to Sell from Neutral at Citi and to Hold from Buy at Evercore ISI. 2. Exelixis (EXEL) downgraded to Hold from Buy at Stifel with analyst Stephen Willey citing valuation. 3. Teva (TEVA) downgraded to Hold from Buy at Argus. 4. Cabot Oil & Gas (COG) downgraded to Market Perform from Outperform at Bernstein. 5. HP Enterprise (HPE) 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.

WDAY

Workday

$83.82

-6.367 (-7.06%)

EXEL

Exelixis

$23.09

1.4 (6.45%)

TEVA

Teva

$35.03

-0.38 (-1.07%)

COG

Cabot Oil & Gas

$21.76

-0.41 (-1.85%)

HPE

HP Enterprise

$22.30

-0.01 (-0.04%)

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    Mar

WDAY Workday
$83.82

-6.367 (-7.06%)

02/28/17
EVER
02/28/17
DOWNGRADE
EVER
Hold
Workday downgraded to Hold from Buy at Evercore ISI
Evercore ISI analyst Kirk Materne downgraded Workday to Hold following the Q4 report citing balanced risk/reward at these levels. Note Citi downgraded Workday to Sell today.
02/28/17
OPCO
02/28/17
NO CHANGE
Target $95
OPCO
Outperform
Workday price target raised to $95 from $88 at Oppenheimer
Oppenheimer analyst Brian Schwartz raised his price target for Workday to $95 from $88, citing the company's "solid 4Q results" and an improved financial outlook. The analyst reiterates an Outperform rating on the shares.
02/28/17
ADAM
02/28/17
NO CHANGE
Target $105
ADAM
Buy
Workday price target raised to $105 from $90 at Canaccord
Canaccord analyst Richard Davis raised his price target on Workday to $105 from $90. He noted the company will not provide billings guidance as it adopted a new accounting rule a year early and the rule along with increasing seasonality of the business makes the metric less reliable. Davis said his checks lead him to believe the company is very likely to close enough deals to propel the firm's revenue toward 30% over the next two years. Davis reiterated his Buy rating on Workday shares.
02/28/17
UBSW
02/28/17
NO CHANGE
Target $103
UBSW
Buy
Workday price target raised to $103 from $94 at UBS
UBS analyst John Byun raised his price target on Workday to $103 from $94 following strong Q4 results. The analyst cited the surprise early adoption of the new revenue accounting rule which he said is a big strategic move against the competition and should increase conversations with potential CFO buyers. Byun noted workday remains one of the fastest growing SaaS/Cloud companies and sees its financial management products gaining more traction each quarter. Byun reiterated his Buy rating on Workday shares.
EXEL Exelixis
$23.09

1.4 (6.45%)

02/28/17
STFL
02/28/17
DOWNGRADE
Target $22
STFL
Hold
Exelixis downgraded to Hold from Buy at Stifel
Stifel analyst Stephen Willey downgraded Exelixis to Hold citing valuation and raised the price target on shares to $22 from $21 following the Q4 beat.
01/30/17
DBAB
01/30/17
NO CHANGE
DBAB
Deutsche sees 'lots to like' for Biotechnology in 2017
Deutsche Bank analyst Andrew Peters says that while pricing headwinds are likely to dominate the near-term conversation, there is a "lot to like" in 2017 in the Biotechnology space. Fundamentals, when focusing on the longer term, remain strong and present an opportunity, Peters tells investors in a research note. He lists Exelixis (EXEL), BioMarin (BMRN), Prothena (PRTA) and Neurocrine (NBIX) as among his favored stocks for 2017.
01/31/17
01/31/17
NO CHANGE

Exelixis down with licensing deal seen as impacting takeover potential
Shares of Exelixis (EXEL) are moving lower after the company last night announced a licensing agreement for the commercialization and further clinical development in Japan of cabozantinib, its oncology medicine, with Takeda Pharmaceutical (TKPYY). Deutsche Bank analyst Andrew Peters said earlier today that while Exelixis' licensing agreement is "clearly encouraging" and highlights the value of cabozantinib, the news could impact "near-term expectations regarding strategic activity, as Japanese rights would be similarly valuable to maintain." Exelixis is down 4%, or 66c, to $17.62 in afternoon trading, a sign that the deal with Takeda could be dampening investor expectations of a buyout in the near-term. The company maintaining the U.S. rights is key, Peters told investors in a research note, adding that the U.S. is core to the valuation and the company's strategic positioning. The analyst has a Buy rating on Exelixis with a $20 price target.
02/28/17
LEER
02/28/17
NO CHANGE
Target $26
LEER
Outperform
Exelixis price target raised to $26 from $20 at Leerink
Leerink analyst Michael Schmidt raised his price target for Exelixis to $26 from $20 after the company reported "another strong quarter" driven by strong product sales growth, which was in-line with expectations, and milestone payments above expectations. The analyst reiterates an Outperform rating on the shares.
TEVA Teva
$35.03

-0.38 (-1.07%)

02/21/17
LEER
02/21/17
NO CHANGE
LEER
Outperform
Warning letter raises concerns on Momenta Copaxone catalyst, says Leerink
Leerink analyst Jason Gerberry notes that Momenta (MNTA) disclosed that its generic Copaxone 40mg ANDA will be delayed by an FDA warning letter at its fill-finish manufacturing partner, Pfizer (PFE). The analyst says that while a short delay to Momenta/Novartis' (NVS) g-Copaxone 40mg is not reason for concern, longer delays could diminish the market opportunity as there are four other generic challengers, but none have been able to prove bioequivalence to Teva's (TEVA) lower strength. He reiterates an Outperform rating on Momenta's shares.
02/21/17
FBCO
02/21/17
NO CHANGE
Target $42
FBCO
Outperform
Glatopa 40mg delay a 'surprising positive' for Teva, says Credit Suisse
Credit Suisse analyst Vamil Divan says the news that Pfizer (PFE) has received a warning letter at a plant that is involved with the production of Sandoz and Momenta's (MNTA) Glatopa products is a surprising positive for Teva (TEVA), noting that he has viewed Sandoz and Momenta as most likely to have the first generic Copaxone 40mg on the market. The analyst reiterated an Outperform rating on Teva's stock, and raised his price target on the shares to $42 from $41.
02/21/17
OPCO
02/21/17
NO CHANGE
OPCO
Outperform
Momenta, Sandoz partner warning letter a modest positive for Teva, says Oppenheimer
Oppenheimer analyst Derek Archila notes that Momenta (MNTA)/Sandoz announced their contract fill/finish manufacturing partner Pfizer (PFE) received an FDA warning letter for its facility that is part of the companies' Copaxone supply chain. While they stated it will not impact the generic Copaxone 20mg product, the warning letter will have to be resolved ahead of an approval of their 40mg application, the analyst says. Archila continues to view Momenta/Sandoz's generic Copaxone 40mg as the most likely to reach the market in the near-term. The news is a modest positive for Teva (TEVA), but there remains risk of a generic 40mg approval from other generic filers, he adds. Archila reiterates an Outperform rating on Teva's shares.
02/28/17
ARGS
02/28/17
DOWNGRADE
ARGS
Hold
Teva downgraded to Hold from Buy at Argus
COG Cabot Oil & Gas
$21.76

-0.41 (-1.85%)

02/28/17
BERN
02/28/17
DOWNGRADE
BERN
Market Perform
Cabot Oil & Gas downgraded to Market Perform from Outperform at Bernstein
02/06/17
02/06/17
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. CBS (CBS) upgraded to Overweight from Neutral at Atlantic Equities. 2. Delta Air Lines (DAL) was upgraded to Outperform from Market Perform and American Airlines (AAL) was upgraded to Market Perform from Underperform at Bernstein. 3. FedEx (FDX) upgraded to Outperform from Market Perform at Raymond James with analyst Patrick Tyler Brown saying he expects FedEx to stay ahead of eCommerce growth by investing, but does not see dollars of capital rising, and actually expects capex/sales to fall in coming years as sales grow. 4. U.S. Steel (X) upgraded to Buy from Hold with a $39 price target with analyst David Coleman saying earnings estimates are rising following bullish 2017 guidance. 5. Cabot Oil & Gas (COG) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Glick citing improved visibility after FERC's issuance of the certificate for Atlantic Sunrise on Friday. The analyst raised his price target for the shares to $27 from $26. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/17
SUSQ
02/06/17
UPGRADE
Target $26
SUSQ
Positive
Cabot Oil & Gas upgraded to Positive at Susquehanna
As previously reported, Susquehanna analyst Biju Perincheril upgraded Cabot Oil & Gas (COG) to Positive from Neutral following Friday's FERC approval of Williams Partners' (WPZ) Atlantic Sunrise pipeline, which he believes should lead to improved production growth visibility going forward for Cabot. Perincheril raised his price target to $26 from $23 on Cabot Oil & Gas shares, which were also upgraded this morning at JPMorgan.
02/06/17
SUSQ
02/06/17
UPGRADE
SUSQ
Positive
Cabot Oil & Gas upgraded to Positive from Neutral at Susquehanna
HPE HP Enterprise
$22.30

-0.01 (-0.04%)

02/24/17
NEED
02/24/17
DOWNGRADE
NEED
Hold
HP Enterprise downgraded to Hold from Buy at Needham
Needham analyst Richard Kugele downgraded HP Enterprise to Hold saying shares reflect nearly all of his aggregate value of the three entities and require a more positive outlook in order to remain positive.
02/24/17
BMOC
02/24/17
DOWNGRADE
BMOC
Market Perform
HP Enterprise downgraded on results, lack of catalysts at BMO Capital
As noted earlier, BMO Capital downgraded HP Enterprise to Market Perform from Outperform. Analyst Tim Long believes that the factors behind the company's "weak results and guidance could persist for several quarters." He says that the company has no significant catalysts besides its divestitures, making it unlikely that the stock will rise a great deal. Target to $24 from $27.
02/28/17
ARGS
02/28/17
DOWNGRADE
ARGS
Hold
HP Enterprise downgraded to Hold from Buy at Argus
02/24/17
02/24/17
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. HP Enterprise (HPE) downgraded to Hold from Buy at Needham and to Market Perform from Outperform at BMO Capital. 2. Wayfair (W) downgraded to Market Perform from Outperform at Raymond James with analyst Aaron Kessler saying Wayfair guided first quarter direct revenue growth below consensus and sees continued EBITDA losses near-term given continued investments in international, new businesses, categories,and logistics, and views shares are fairly valued at current levels. 3. Transocean (RIG) downgraded to Sell from Hold at Pareto. 4. Goodyear Tire (GT) downgraded to Hold from Buy at Jefferies with analyst Ashik Kurian citing valuation with the shares up 17% year-to-date and limited near-term catalysts. The analyst raised his price target for the stock to $38. 5. Jack in the Box (JACK) downgraded to Market Perform from Outperform at Cowen with analyst Andrew Charles saying he does not expect upside to 2017 guidance for Jack comps of approximately 2% and Qdoba comps of flat, given it implies a recovery in the back half of 2017 and is exacerbated by a challenging industry backdrop. Additionally, Charles believes significant G&A savings and share repurchases are reflected, making it difficult to drive material earnings upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CNX

Consol

$16.50

0.465 (2.90%)

14:30
11/17/17
11/17
14:30
11/17/17
14:30
Options
Far upside call buyer in CNX »

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XENE

Xenon Pharmaceuticals

, AMGN

Amgen

$170.77

1.39 (0.82%)

14:29
11/17/17
11/17
14:29
11/17/17
14:29
Periodicals
Xenon higher as CNBC's Tirrell reports on nonaddictive pain medicines »

Six drug companies are…

XENE

Xenon Pharmaceuticals

AMGN

Amgen

$170.77

1.39 (0.82%)

RHHBY

Roche

$28.90

0.165 (0.57%)

BIIB

Biogen

$313.98

3.7 (1.19%)

RGEN

Repligen

$33.73

1.12 (3.43%)

VRTX

Vertex

$147.94

-0.72 (-0.48%)

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RIO

Rio Tinto

$47.70

0.065 (0.14%)

14:25
11/17/17
11/17
14:25
11/17/17
14:25
Periodicals
Rio Tinto working with advisers on bid for stake in SQM, Bloomberg says »

Rio Tinto has lined up…

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VIAB

Viacom

$23.69

-0.92 (-3.74%)

14:25
11/17/17
11/17
14:25
11/17/17
14:25
Options
Viacom call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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14:25
11/17/17
11/17
14:25
11/17/17
14:25
General news
Action Economics Survey results »

Action Economics Survey…

TWX

Time Warner

$88.79

0.7799 (0.89%)

, DIS

Disney

$103.63

0.03 (0.03%)

14:23
11/17/17
11/17
14:23
11/17/17
14:23
Periodicals
'Justice League' grosses roughly $16M in opening day in China, Forbes says »

Warner Bros. (TWX) latest…

TWX

Time Warner

$88.79

0.7799 (0.89%)

DIS

Disney

$103.63

0.03 (0.03%)

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$NSD

NASDAQ Market Internals

14:17
11/17/17
11/17
14:17
11/17/17
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
11/17/17
11/17
14:16
11/17/17
14:16
Technical Analysis
NYSE market internals summary »

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PAAS

Pan American Silver

$14.77

-0.12 (-0.81%)

14:00
11/17/17
11/17
14:00
11/17/17
14:00
Conference/Events
Pan American Silver investor and analyst day »

Investor and Analyst Day…

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TJX

TJX

$70.99

1.93 (2.79%)

14:00
11/17/17
11/17
14:00
11/17/17
14:00
Options
Notable options activity in TJX as shares see strength »

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PFSW

PFSweb

$6.80

0.21 (3.19%)

13:59
11/17/17
11/17
13:59
11/17/17
13:59
Hot Stocks
PFSweb rallies after Ancora discloses activist stake »

Ancora Advisors earlier…

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RH

RH

$103.86

-0.95 (-0.91%)

13:52
11/17/17
11/17
13:52
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13:52
Recommendations
RH analyst commentary  »

RH price target raised to…

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HAIN

Hain Celestial

$38.49

1.76 (4.79%)

13:45
11/17/17
11/17
13:45
11/17/17
13:45
Options
Hain Celestial call volume above normal and directionally bullish »

Bullish option flow…

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PEG

PSEG

$51.40

0.015 (0.03%)

13:36
11/17/17
11/17
13:36
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13:36
Syndicate
Breaking Syndicate news story on PSEG »

PSEG files $129.1M mixed…

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AWK

American Water

$89.05

-0.64 (-0.71%)

13:33
11/17/17
11/17
13:33
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13:33
Hot Stocks
Indiana American Water acquires Georgetown Water System for about $6.4M »

Indiana American Water…

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COT

Cott Corp.

$16.86

0.36 (2.18%)

13:30
11/17/17
11/17
13:30
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13:30
Options
Cott Corp call buying continues »

Cott Corp call buying…

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13:30
11/17/17
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General news
FX Action: USD-JPY »

FX Action: USD-JPY…

CC

Chemours

$52.23

0.705 (1.37%)

13:27
11/17/17
11/17
13:27
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13:27
Periodicals
Chemours tells Bloomberg N.C. permit revocation 'unwarranted' »

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13:25
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General news
An exodus from U.S. high yield debt this week »

An exodus from U.S. high…

STBZ

State Bank Financial

$28.69

0.21 (0.74%)

13:25
11/17/17
11/17
13:25
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13:25
Conference/Events
State Bank Financial participates in a conference call with SunTrust »

Suntrust Bank Analyst…

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  • 17

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HIBB

Hibbett Sports

$14.85

0.8 (5.69%)

13:24
11/17/17
11/17
13:24
11/17/17
13:24
Recommendations
Hibbett Sports analyst commentary  »

Hibbett Sports price…

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  • 17

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FL

Foot Locker

$40.18

8.33 (26.15%)

13:23
11/17/17
11/17
13:23
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13:23
Recommendations
Foot Locker analyst commentary  »

Foot Locker quarter…

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  • 17

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MS

Morgan Stanley

$48.67

0.065 (0.13%)

13:20
11/17/17
11/17
13:20
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13:20
Options
Morgan Stanley calls lead puts 9:1 »

Morgan Stanley calls lead…

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$NSD

NASDAQ Market Internals

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

Volume is average for…

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$NYE

NYSE Market Internals

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

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