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COST

Costco

$170.15

0.09 (0.05%)

, AMZN

Amazon.com

$902.06

2.86 (0.32%)

10:23
04/21/17
04/21
10:23
04/21/17
10:23

Barclays upgrades Costco after protection from Amazon shown in survey

The shares of Costco (COST) are rising slightly after Barclays upgraded the stock to Overweight from Equal Weight. After reviewing the results of its consumer survey, the firm says that Costco is "very protected from" the Amazon (AMZN) threat impacting so many others in brick-and-mortar retailing. SURVEY RESULTS AND ANALYSIS: Barclays' survey of 600 consumers showed that more than 80% of them go to Costco in order to buy food, reported Barclays analysts Karen Short and Matthew McClintock. As a result, the analysts believe that Costco is "very protected" from Amazon. OTHER FACTORS: Easier comparisons, increased investments, and potentially higher gas prices should enable Costco's comparable sales and traffic growth to accelerate, Short and McClintock believe. Additionally, Costco may declare a special dividend or a dividend enabled by a tax break on the repatriation of overseas cash, the analysts stated. TARGET: The analysts increased their price target on Costco to $185 from $170. PRICE ACTION: In morning trading, Costco gained 0.5% to $171 per share.

COST

Costco

$170.15

0.09 (0.05%)

AMZN

Amazon.com

$902.06

2.86 (0.32%)

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    May

COST Costco
$170.15

0.09 (0.05%)

04/21/17
LEHM
04/21/17
UPGRADE
Target $185
LEHM
Overweight
Costco upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Karen Short upgraded Costco Wholesale (COST) to Overweight after her survey of 800 customers indicated more than 80% of them go to Costco stores specifically for food. This suggests the company is "very protected" from Amazon (AMZN), Short tells investors in a research note. The analyst expects Costco's traffic to accelerate amid easing comparisons into the second half of the year. Short also sees the potential for a special dividend from a tax break on foreign cash repatriation. She raised her price target for the shares to $185 from $170.
04/20/17
LEHM
04/20/17
UPGRADE
LEHM
Overweight
Costco upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Karen Short upgraded Costco to Overweight from Equal Weight, and raised her price target on shares to $185 from $170, citing a survey by the firm where results showed analytically that Costco (COST) is "very protected" from Amazon (AMZN).
04/20/17
LEHM
04/20/17
UPGRADE
LEHM
Overweight
Costco upgraded to Overweight from Equal Weight at Barclays
04/19/17
OPCO
04/19/17
NO CHANGE
OPCO
Oppenheimer bullish on Visa, MasterCard ahead of results
Oppenheimer analyst Glenn Greene reiterates Outperform ratings for MasterCard (MA) and Visa (V) and $120 and $95 price targets, respectively, heading into results. The analyst is encouraged by "solid" January intra-quarter volume growth, improving gas price trends, strong retail sales growth, and broadly positive card issuer trends. Further, Greene continues to believe that MasterCard and Visa are attractive at current levels, given their defensible market positions and strong long-term prospects. Nonetheless, he prefers Visa relative to MasterCard at present given the continuing U.S. volume boost from the Costco (COST)/USAA wins and JPMorgan Chase (JPM) Sapphire Reserve momentum, apparent conservative guidance, and Visa Europe accretion benefits.
AMZN Amazon.com
$902.06

2.86 (0.32%)

04/21/17
PIPR
04/21/17
NO CHANGE
Target $1000
PIPR
Overweight
Amazon.com Q2 margin guidance may miss consensus, says Piper Jaffray
Piper Jaffray analyst Michael Olson expects Amazon.com on April 27 to report Q1 results in-line with expectations. He believes, however, that its Q2 margin guidance may be slightly below consensus. This is consistent with most investor expectations, Olson tells investors in a pre-earnings research note. The analyst believes long-term investors should own Amazon through the Q1 earnings report. He reiterates an Overweight rating on the shares with a $1,000 price target.
04/20/17
04/20/17
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. Amazon.com (AMZN) downgraded to Peer Perform from Outperform at Wolfe Research with analyst Scott Mushkin saying shares are approaching his price target and he expects increasing competition through year-end. 2. Time Warner (TWX) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying shares are trading near the value of AT&T's (T) offering price. 3. Molson Coors (TAP) downgraded to Market Perform from Outperform at Cowen with analyst Vivien Azer citing expectations for persistent beer volume headwinds. The analyst believes alcohol consumption could be pressured for at least the next decade, partly due to increased cannabis use, and a contraction in the alcohol cycle. Azer said Molson is uniquely exposed to the increasingly vibrant and growing cannabis markets and notes there is an inverse relationship between cannabis use and alcohol consumption over time. 4. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi with analyst James Cakmak 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. 5. Ruth's Hospitality (RUTH) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Vaccaro citing 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.
04/20/17
WOLF
04/20/17
DOWNGRADE
WOLF
Peer Perform
Amazon downgraded by Wolfe Research with 'retail bloodbath' seen ahead
As previously reported, Wolfe Research downgraded Amazon.com to Peer Perform from Outperform. Analyst Scott Mushkin said shares are approaching his price target and he expects increasing competition through year-end. He expects next year to be a "bloodbath" in retail due to increased competition from Wal-Mart (WMT), traditional consumable operators, and other broadlines/specialty retailers, leading to a deceleration in Amazon sales, he tells investors. Mushkin reduced his FY17 earnings estimate to $6.52 from $6.63 and FY18 to $9.92 from $10.09 due mostly to lowered expectations in North America.

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