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CSX

CSX

$46.93

0.3 (0.64%)

, SCSS

Select Comfort

$25.87

0.84 (3.36%)

09:18
04/20/17
04/20
09:18
04/20/17
09:18

On The Fly: Pre-market Movers

UP AFTER EARNINGS: CSX (CSX), up 6% after reporting quarterly results, announcing a dividend increase, and a new $1B share repurchase program... Select Comfort (SCSS), up 13.5%... Sherwin-Williams (SHW), up 3.7%... American Express (AXP), up 2.3%... Datawatch (DWCH), up 12%... BB&T (BBT), up 1.6%... SLM (SLM), up 3.2%. ALSO HIGHER: KCG Holdings (KCG), up 11.1% after being acquired by Virtu Financial (VIRT). Virtu Financial is up 7.4% following the announcement... Aldeyra (ALDX) up 6.7% after ADX-102 in Sjogren-Larsson Syndrome was granted Orphan Drug designation by the FDA. DOWN AFTER EARNINGS: Verizon (VZ), down 2.8%... Plexus (PLXS), down 9.4%... Philip Morris (PM), down 3.7%... eBay (EBAY), down 2.8%... Travelers (TRV), down 1.6%. ALSO LOWER: Whitestone REIT (WSR), down 8.1% after filing to sell 8.1M shares of common stock.

CSX

CSX

$46.93

0.3 (0.64%)

SCSS

Select Comfort

$25.87

0.84 (3.36%)

SHW

Sherwin-Williams

AXP

American Express

DWCH

Datawatch

$7.10

-0.05 (-0.70%)

BBT

BB&T

SLM

Sallie Mae

$11.53

0.04 (0.35%)

KCG

KCG Holdings

VIRT

Virtu Financial

$14.95

-0.3 (-1.97%)

ALDX

Aldeyra

$5.20

0.4 (8.33%)

VZ

Verizon

PLXS

Plexus

$58.22

0.7 (1.22%)

PM

Philip Morris

EBAY

eBay

$33.86

-0.165 (-0.49%)

TRV

Travelers

WSR

Whitestone REIT

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CSX CSX
$46.93

0.3 (0.64%)

03/24/17
LEHM
03/24/17
NO CHANGE
Target $55
LEHM
Overweight
CSX price target raised to $55 from $50 at Barclays
Barclays analyst Brandon Oglenski raised his price target for CSX to $55 after introducing new estimates to reflect his best estimate of what he thinks new CEO Hunter Harrison can achieve. The analyst notes that his near $4 in earnings per share for 2020 represents a doubling of earnings from current levels. Harrison acted quickly at CP, with most margin improvement realized in less than three years, Oglenski tells investors in a research note. He keeps an Overweight rating on CSX.
03/15/17
03/15/17
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. Netflix (NFLX) upgraded to Hold from Underperform at Jefferies with analyst John Janedis saying he believes Netflix's international growth opportunity is larger than he had expected. The company's original content is performing well, mobile consumption is growing and competition appears limited, Janedis tells investors in a research note. 2. CSX (CSX) upgraded to Overweight from Neutral at Atlantic Equities. 3. Amec Foster Wheeler (AMFW) was upgraded to Neutral from Underperform at Exane BNP Paribas and to Outperform from Market Perform at Raymond James. 4. Harley-Davidson (HOG) upgraded to Neutral from Underperform at Longbow. 5. Finisar (FNSR) upgraded to Buy from Hold at Jefferies with analyst James Kisner saying the current valuation discounts no recovery in China and no resolution of recent technical issues. The analyst views the company's issues as temporary and upped his price target for the shares to $34 from $32. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/17
WOLF
03/15/17
NO CHANGE
WOLF
Wolfe cuts Railroads to Market Weight, downgrades Norfolk Southern
Wolfe Research analyst Scott Group downgraded the Railroad sector to Market Weight from Overweight saying the risk/reward profiles are more balanced following the recent expansion of valuations. Group coupled the sector cut with a downgrade of Norfolk Southern (NSC) to Peer Perform from Outperform. The analyst thinks the company's operating ratio improvement could disappoint relative to CSX (CSX). He believes CSX has the best earnings story in the space under CEO Hunter Harrison.
03/15/17
ATLE
03/15/17
UPGRADE
Target $57
ATLE
Overweight
CSX upgraded to Overweight from Neutral at Atlantic Equities
Atlantic Equities analyst Lindsay Bettiol upgraded CSX to Overweight with an increased price target of $57.
SCSS Select Comfort
$25.87

0.84 (3.36%)

04/20/17
BOFA
04/20/17
NO CHANGE
Target $21.5
BOFA
Underperform
BofA/Merrill says its not the time to climb into Select Comfort
BofA/Merrill analyst Curtis Nagle said Select Comfort reported a strong Q1 beat but he continues to see earnings risk for the year. The analyst sees execution risk to the new 360 bed line rollout in mid Q2 given a past track record of inconsistent performance, pricing is likely to be flat which will limit ticket growth, and said the company has a greater reliance on driving comp traffic, which has been volatile. Curtis said Select Comfort has limited broad market appeal due to its highly niche product and reiterated his Underperform rating, but raised his price target to $21.50 from $18 on shares.
04/20/17
STFL
04/20/17
NO CHANGE
STFL
Select Comfort reported 'strong' results, 'conservative' guidance, says Stifel
Stifel analyst John Baugh says that Select Comfort reported "strong" Q1 results, and the analyst is upbeat about the company's new 360 Smart Bed product line. He thinks its guidance is "conservative," given what he sees as "its strong start to the year." He raised his price target on the shares to $32 from $27 and keeps a Buy rating on the stock.
04/20/17
PIPR
04/20/17
NO CHANGE
Target $32
PIPR
Overweight
Select Comfort price target raised to $32 from $25 at Piper Jaffray
Piper Jaffray analyst Peter Keith raised his price target for Select Comfort to $32 following the company's "first beat-and-raise quarter in two years." The analyst views the increased guidance as "reasonable" and keeps an Overweight rating on the shares.
04/11/17
RAJA
04/11/17
DOWNGRADE
RAJA
Market Perform
Select Comfort downgraded to Market Perform on valuation at Raymond James
Raymond James analyst Budd Bugatch downgraded Select Comfort to Market Perform from Outperform ahead of the April 19 earnings report citing more balanced risk/reward following the stock's recent outperformance.
SHW Sherwin-Williams

02/01/17
SUSQ
02/01/17
NO CHANGE
Target $350
SUSQ
Positive
Sherwin-Williams price target raised to $350 from $330 at Susquehanna
Susquehanna analyst Don Carson raised his price target on Sherwin-Williams to $350 from $330 following Q4 results. The analyst cited the abatement of the labor constraints that negatively impacted Q3 results and the expectation the company will grow U.S. architectural volumes at twice the market rate. Carson reiterated his Positive rating on Sherwin-Williams shares.
04/03/17
KEYB
04/03/17
UPGRADE
Target $375
KEYB
Overweight
Sherwin-Williams upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Michael Sison upgraded Sherwin-Williams to Overweight saying the Valspar acquisition, which should close in Q2, will provide "consistent" earnings growth and margin expansion through the 2019. The analyst has a $375 price target for the shares.
02/07/17
MSCO
02/07/17
NO CHANGE
Target $335
MSCO
Overweight
Sherwin-Williams price target raised to $335 from $300 at Morgan Stanley
Morgan Stanley analyst Vincent Andrews raised Sherwin-Williams price target to $335 and reiterated his Overweight rating. Andrews is more positive on the US housing market than either global auto OEM or other OEM and industrial end markets and believes the company has the ability to prices in excess inflation faster.
04/18/17
MSCO
04/18/17
NO CHANGE
MSCO
Contractor survey indicates strength in home improvement, says Morgan Stanley
Morgan Stanley analysts led by Vincent Andrews said the firm's recent contractor survey indicates strong home improvement trends over the last 3 months and points to an optimistic outlook ahead for the Spring season. The analyst said results support a constructive view for Home Depot (HD), Lowe's (LOW), and Sherwin-Williams (SHW).
AXP American Express

03/24/17
TIGR
03/24/17
INITIATION
TIGR
Neutral
American Express initiated with a Neutral at Tigress Financial
Tigress Financial analyst Ivan Feinseth initiated American Express with a Neutral saying business performance remains weak due to increasing competition and the loss of its largest customer and views shares as fairly valued.
04/20/17
JPMS
04/20/17
NO CHANGE
Target $94
JPMS
Overweight
JPMorgan says American Express 'becoming great again,' ups target to $94
In a research note titled "Becoming Great Again," JPMorgan analyst Richard Shane raised his price target for American Express shares to $94 from $90 following the company's Q1 results. The analyst expects a positive reaction when the market opens. The earnings beat was driven by strong top-line growth while American Express' loan growth continues ahead of the industry, Shane tells investors in a post-earnings research note. He keeps an Overweight rating on the shares.
04/20/17
OPCO
04/20/17
NO CHANGE
Target $93
OPCO
Outperform
American Express fundamentals already shifting more positive, says Oppenheimer
Oppenheimer analyst Ben Chittenden continues to like the American Express story and says the Q1 results only reinforce why he likes it. The analyst believes this is a company where sentiment is very negative yet the fundamentals are already shifting more positive. While competition is clearly more intense post crisis, American Express is managing through it, he adds. Chittenden reiterates an Outperform rating and $93 price target on the shares.
03/24/17
03/24/17
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. American Express (AXP) initiated with a Neutral at Tigress Financial. 2. Zosano Pharma (ZSAN) initiated with an Overweight at Piper Jaffray. 3. SkyWest (SKYW) initiated with an In-Line at Imperial Capital. 4. Statoil (STO) initiated with an Underperform at Macquarie. 5. Cogent (CCOI) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
DWCH Datawatch
$7.10

-0.05 (-0.70%)

BBT BB&T

12/20/16
HDLY
12/20/16
DOWNGRADE
HDLY
Neutral
BB&T downgraded to Neutral from Buy at Hilliard Lyons
01/11/17
UBSW
01/11/17
INITIATION
Target $49
UBSW
Neutral
BB&T initiated with a Neutral at UBS
UBS analyst Saul Martinez started BB&T with a Neutral rating and $49 price target.
03/06/17
HDLY
03/06/17
DOWNGRADE
HDLY
Neutral
BB&T downgraded to Neutral from Buy at Hilliard Lyons
Hilliard Lyons analyst Andrew Stapp downgraded BB&T with a $51 price target due to valuation. The analyst now expects FED hikes in 2017 to be earlier than perceived and is now modeling rate hikes in March and September versus June and December previously.
01/23/17
HDLY
01/23/17
UPGRADE
HDLY
Buy
BB&T upgraded to Buy from Neutral at Hilliard Lyons
SLM Sallie Mae
$11.53

0.04 (0.35%)

01/30/17
WEDB
01/30/17
INITIATION
Target $13
WEDB
Outperform
Sallie Mae initiated with an Outperform at Wedbush
Wedbush initiated Sallie Mae with an Outperform and a $13 price target.
12/07/16
DADA
12/07/16
NO CHANGE
DADA
Sallie Mae price target raised to $13 from $9 at DA Davidson
DA Davidson analyst Arren Cyganovich raised his price target on Sallie Mae citing reduced political risk and his belief that it deserves a higher multiple given its status as " a high-growth, high-return (specialty) bank." The analyst expects the company to benefit from higher interest rates,and he keeps a Buy rating on the shares.
01/11/17
SBSH
01/11/17
NO CHANGE
Target $13.5
SBSH
Buy
Citi sees continued outperformance for Sallie Mae shares
Citi analyst Michael Kaye sees "room for continued outperformance" even with Sallie Mae shares up 60% post the U.S. election. The stock will further benefit from "strong" earnings growth and potential for Trump-related upside, Kaye tells investors in a research note. He raised his price target for Sallie shares to $13.50 from $12 and keeps a Buy rating on the name.
12/07/16
JEFF
12/07/16
INITIATION
Target $12.5
JEFF
Buy
Sallie Mae initiated with a Buy at Jefferies
Jefferies analyst John Hecht started Sallie Mae with a Buy rating and $12.50 price target. The company is an "ideal investment" to play the secular growth in student lending, Hecht tells investors in a research note.
KCG KCG Holdings

07/14/16
07/14/16
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. Procter & Gamble (PG) upgraded to Buy from Neutral at UBS with analyst Stephen Powers saying the risk/reward is positive given the company's changes over the past six months. 2. Dick's Sporting (DKS) upgraded to Outperform from Sector Perform at RBC Capital with the firm saying it thinks that the company has a number of potential positive catalysts going forward, including reduced disruption from the Sports Authority's liquidation in the second quarter and third quarter and potential benefits from the liquidation next year, along with reduced spending on e-commerce in 2017. 3. GlaxoSmithKline (GSK) upgraded to Buy from Hold at Jefferies with analyst Jeffrey Holford saying fears of a dividend cut are overdone and the company's improving yield quality will continue to attract investors. 4. Southern Company (SO) upgraded to Overweight from Equal Weight at Barclays with analyst Daniel Ford saying the risk/reward is improving as it transforms to an infrastructure company. 5. Barrick Gold (ABX) and Randgold (GOLD) upgraded to Buy from Hold and Kinross Gold (KGC) upgraded to Hold from Underperform at Jefferies with analyst Christopher LaFemina upgrading the stocks after his firm increased its gold price forecasts to reflect ongoing elevated macro risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/17
WELS
04/03/17
DOWNGRADE
WELS
Market Perform
KCG Holdings downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Christopher Harris downgraded KCG Holdings (KCG) to Market Perform saying the offer from Virtu Financial (VIRT) "seems fair." The analyst admits that he has "no edge" on the deal's prospects. His $16-$18 price target range for KCG reflects the company's standalone value.
06/07/16
BUCK
06/07/16
INITIATION
Target $17
BUCK
Buy
KCG Holdings initiated with a Buy at Buckingham
Target $17.
03/16/17
UBSW
03/16/17
NO CHANGE
Target $20
UBSW
Buy
Virtu deal for KCG has significant execution risk, says UBS
UBS analyst Alex Kramm sees the potential for significant execution risk if Virtu Financial (VIRT) succeeds in its bid for KCG Holdings (KCG). Kramm questions whether the bid for KCG signals Virtu has lost patience with the macro environment and with its attempt at growth if they are willing to bring on a decent amount of execution risk. As a result, the analyst feels perhaps Virtu was not as well positioned as once thought. However, Kramm maintained his Buy rating and $20 price target on Virtu shares.
VIRT Virtu Financial
$14.95

-0.3 (-1.97%)

ALDX Aldeyra
$5.20

0.4 (8.33%)

09/26/16
HCWC
09/26/16
INITIATION
Target $18
HCWC
Buy
Aldeyra initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Corey Davis started Aldeyra Therapeutics with an Outperform rating and $18 price target. Few on Wall Street appreciate how large the market could be for Aldeyra's NS2 "aldehyde trap," Davis tells investors in a research note.
07/01/16
STFL
07/01/16
INITIATION
Target $5.5
STFL
Buy
Aldeyra initiated with a Buy at Stifel
Stifel analyst Adam Walsh initiated Aldeyra with a Buy and $5.50 price target saying its novel aldehyde trap platform has broad applicability in inflammatory diseases and holds promise for treating rare genetic disorders of aldehyde metabolism.
07/01/16
07/01/16
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. Netflix (NFLX) initiated with a Buy at Canaccord, with analyst Michael Graham noting the stock's 30% decline since last December. Graham sees a long runway for international subscriber growth and believes it will be a key metric through next year at least. 2. GameStop (GME) initiated with an Outperform at Macquarie, with analyst Ben Schachter saying he believes the shift to digital will be somewhat gradual, and GameStop's experienced management team will be able to generate significant cash from its existing business, even as the model evolves into a more diversified multi-channel/multi-category retailer. 3. Concert Pharmaceuticals (CNCE) initiated with a Buy at Stifel, with analyst Adam Walsh saying his bullish thesis centers on two key pipeline assets: AVP-786 in P3 trials for Alzheimer's agitation; and CTP-543, in P1 studies for alopecia areata. Both drugs have blockbuster potential in his view, targeting unmet medical needs with no approved treatments. 4. Aldeyra (ALDX) initiated with a Buy at Stifel, with analyst Adam Walsh saying its novel aldehyde trap platform has broad applicability in inflammatory diseases and holds promise for treating rare genetic disorders of aldehyde metabolism. 5. Celanese (CE) initiated with a Positive at Susquehanna, reflecting the stock's current risk/reward. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
VZ Verizon

04/19/17
STFL
04/19/17
NO CHANGE
STFL
Dycom could obtain $300M in revenue from Verizon, says Stifel
After Verizon (VZ) announced a three year agreement to purchase fiber from Corning (GLW), Stifel analyst Noelle Dilts says that Verizon's upcoming deployment of fiber could generate $300M of additional annual revenue for Dycom (DY). The analyst estimates that Verizon's deployment could add 64c to Dycom's annual EPS. She raised her price target on the shares to $120 from $112 and keeps a Buy rating on the stock.
04/19/17
ARGS
04/19/17
NO CHANGE
ARGS
Corning price target raised to $33 from $30 at Argus
Argus analyst Jim Kelleher increased his price target on Corning (GLW) after the company announced a $1.05B fiber supply deal with Verizon (VZ). The analyst says that Corning's valuation is attractive and keeps a Buy rating on the shares.
04/19/17
04/19/17
NO CHANGE

Zayo Group has negative read through from Verizon deal, says Pacific Crest
After Verizon (VZ) agreed to buy fiber from Corning (GLW), Pacific Crest analyst Brandon Nispel says the deal indicates that Verizon prefers to build a fiber network on its own instead of leasing one from a third party. The analyst views this development as negative for Zayo which is building and looking to lease fiber networks. He keeps a Sector Weight rating on the stock.
04/19/17
04/19/17
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. ING Group (ING) initiated with a Buy at Jefferies. 2. T-Mobile (TMUS) was initiated with a Buy at SunTrust while Sprint (S), Verizon (VZ), and AT&T (T) were initiated with a Hold. 3. DXC Technology (DXC) initiated with an Overweight at JPMorgan. 4. LendingClub (LC) coverage resumed with a Hold at Stifel. 5. Halliburton (HAL) and Schlumberger (SLB) were initiated with a Buy at HSBC while Baker Hughes (BHI) was initiated with a Hold. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
PLXS Plexus
$58.22

0.7 (1.22%)

01/20/17
CRSS
01/20/17
DOWNGRADE
CRSS
Sell
Plexus downgraded to Sell from Hold at Cross Research
01/20/17
NEED
01/20/17
NO CHANGE
Target $60
NEED
Buy
Plexus price target raised to $60 from $52 at Needham
Needham analyst Sean Hannan raised his price target for Plexus to $60 from $52 saying that while the company's Q1 report and Q2 guidance was not without noise, he believes "the big picture" remains as the story in progress of accelerating new program ramps in the second half of 2017 and into 2018. The analyst expects execution at Plexus to continue and reiterates a Buy rating on the shares.
12/15/16
LBOW
12/15/16
DOWNGRADE
LBOW
Neutral
Plexus downgraded to Neutral from Buy at Longbow
Longbow downgraded Plexus citing valuation.
04/04/17
JPMS
04/04/17
INITIATION
Target $65
JPMS
Neutral
Plexus initiated with a Neutral at JPMorgan
JPMorgan analyst Paul Coster started Plexus with a Neutral rating and $65 price target. The analyst views the stock as fairly valued at current levels.
PM Philip Morris

02/17/17
WELS
02/17/17
NO CHANGE
WELS
Philip Morris likely to raise iQOS guidance, says Wells Fargo
Wells Fargo expects Philip Morris (PM) to announce on February 22 that it will file an FDA application to commercialize its iQOS smokeless cigarettes in the U.S. The firm predicts that the company will also raise its 2020 iQOS incremental profit target by $0.3B to $1.0-$1.5B. Wells sees a 70% chance of Philip Morris acquiring Altria Group (MO), and it says that such a deal could enable iQOs to obtain an additional $10B in operating income from iQOS by 2025. Wells keeps Outperform ratings on Philip Morris and Altria.
02/08/17
SBSH
02/08/17
NO CHANGE
SBSH
Citi says 'fairly unlikely' Philip Morris buys Altria Group
It is "fairly unlikely," although not impossible, that Philip Morris (PM) acquires Altria Group (MO), Citi analyst Adam Spielman tells investors in a research note. The analyst points out that according to Bloomberg, there is greater speculation that Altria Group will be bid for than for any other major company. Spielman does not believe Philip Morris buying Altria would generate adequate financial returns. He notes the takeover speculation is triggered by British American Tobacco's (BAT) decision to buy Reynolds American (RAI), the number two player in U.S. tobacco.
01/17/17
WELS
01/17/17
NO CHANGE
WELS
Wells sees Reynolds American deal upping chances of Philip Morris, Altria tie-up
After Reynolds American (RAI) announced that it has reached an agreement with British American Tobacco (BTI) under which BAT will acquire the 57.8% of RAI common stock that BAT does not currently own, Wells Fargo analyst Bonnie Herzog said she sees the deal increasing the likelihood of Philip Morris (PM) acquiring Altria (MO) as scale becomes increasingly critical. Applying the deal multiple for Reynolds' deal, Herzog estimates that Altria is worth at least $76 per share in a potential takeover.
01/18/17
SBSH
01/18/17
DOWNGRADE
Target $60
SBSH
Neutral
Reynolds American downgraded to Neutral from Buy at Citi
Citi analyst Adam Spielman downgraded Reynolds American (RAI) to Neutral from Buy citing its deal to be acquired fully by British American Tobacco (BTI). He adds that he sees the proposed deal putting further pressure on Altria (MO) and Philip Morris (PM) to recombine.
EBAY eBay
$33.86

-0.165 (-0.49%)

04/20/17
JMPS
04/20/17
NO CHANGE
JMPS
eBay outlook has improved, says JMP Securities
After eBay reported in-line Q1 results and lower than expected Q2 guidance, JMP Securities analyst Ronald Josey says he is nonetheless more upbeat about the company's growth outlook. The analyst says that the company has improved its user experience, while its structured data rollout could enable its GMV growth to accelerate in 2H17. The analyst keeps a Market Perform rating on the stock, citing valuation.
04/12/17
ARGS
04/12/17
NO CHANGE
ARGS
eBay price target raised to $39 from $36 at Argus
Argus analyst Joseph Bonner increased his price target on eBay after the company announced the sale of its Indian e-commerce business to privately held Flipkart and made a $500M investment in Flipkart. The analyst says that the deal creates "needed scale" for eBay India that could enable it to withstand increased competition and survive. The analyst keeps a Buy rating on eBay.
04/20/17
MONN
04/20/17
DOWNGRADE
Target $17.5
MONN
Neutral
eBay downgraded to Neutral from Buy at Monness Crespi
Monness Crespi analyst James Cakmak downgraded eBay to Neutral saying he sees insufficient upside to estimates to justify the lofty valuation. The analyst said the path to double-digit growth may be pushed out 2019 and limited potential to outperform topline expectations in 2017. Further, the analyst sees margin pressures from product mix towards StubHub and rising development spend for the backend, and limited opportunities for multiple expansion.
04/20/17
UBSW
04/20/17
NO CHANGE
Target $38
UBSW
Buy
eBay results solid as turnaround continues, says UBS
UBS analyst Eric Sheridan said eBay reported solid Q1 results, which painted an improving trend in user growth and U.S. GMV trends. The analyst said guidance continues to be framed in terms of necessary investments in traffic/user growth, structured data, and advertising business transition. Sheridan continues to view eBay as a Buy, citing improving core operations, capitol allocation, and further value realization for its faster growing businesses. Sheridan has a $38 price target on eBay shares.
TRV Travelers

01/10/17
GSCO
01/10/17
DOWNGRADE
Target $107
GSCO
Sell
Travelers downgraded to Sell from Neutral at Goldman
Goldman analyst Michael Nannizzi downgraded Travelers to Sell and lowered its price target to $107 from $116. The analyst said shares are up 10% since the election and sees fewer catalysts ahead given its large muni portfolio and lack of rate action to date.
01/17/17
MACQ
01/17/17
UPGRADE
MACQ
Outperform
Travelers upgraded to Outperform from Underperform at Macquarie
Macquarie analyst Amit Kumar upgraded Travelers two notches to Outperform from Underperform with a $134 price target. The analyst expects Travelers to significantly benefit from the improving US business environment due to Trump's focus on business and a lower corporate tax rate.
02/13/17
FBRC
02/13/17
DOWNGRADE
Target $119
FBRC
Market Perform
Travelers downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Randy Binner downgraded Travelers to Market Perform citing valuation and pricing challenges in the auto segment and broader commercial lines. The analyst has a $119 price target for the shares.
01/26/17
JPMS
01/26/17
NO CHANGE
Target $120
JPMS
Neutral
JPMorgan incrementally cautious after Travelers meeting
JPMorgan analyst Sarah DeWitt says she's incrementally cautious on shares of Travelers after meeting with the company's management. The analyst says she didn't receive "significant comfort" that auto insurance losses won't deteriorate further while higher U.S. inflation could mean reserve releases slow. The analyst adds that management "appeared slightly less inclined" to pursue acquisitions. DeWitt keeps a Neutral rating on Travelers with a $120 price target.
WSR Whitestone REIT

08/19/16
BARD
08/19/16
DOWNGRADE
Target $15
BARD
Neutral
Whitestone REIT downgraded to Neutral at Baird
As reported previously, Baird analyst RJ Milligan downgraded Whitestone REIT to Neutral from Outperform. The analyst cited the recent strong performance and sees limited upside given expectations for slowing FFO growth driven by fewer acquisitions and higher than expected disposition cap rates. Milligan lowered his price target to $15 from $16 on Whitestone REIT shares.
07/14/16
HDLY
07/14/16
DOWNGRADE
HDLY
Neutral
Whitestone REIT downgraded to Neutral from Long-Term Buy at Hilliard Lyons
Hilliard Lyons analyst Carol Kemple downgraded Whitestone REIT to Neutral.
08/19/16
BARD
08/19/16
DOWNGRADE
BARD
Neutral
Whitestone REIT downgraded to Neutral from Outperform at Baird

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