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CMCSA

Comcast

$39.01

0.72 (1.88%)

, CMCSK

Comcast

$58.00

(0.00%)

20:47
05/07/17
05/07
20:47
05/07/17
20:47

On The Fly: Top five weekend stock stories

1. Comcast (CMCSA) and Charter (CHTR) are forming a wireless partnership as the cable giants potentially ready a challenge to established carriers, according to the Wall Street Journal. Elsewhere in dealmaking, Sinclair (SBGI) is reportedly nearing an acquisition of Tribune Media (TRCO), while oil tanker firm DHT (DHT) rejected a bid from Frontline (FRO) and AkzoNobel (AKZOY) was said to prepare a similar rebuff of PPG (PPG). 2. Centrist Emmanuel Macron defeated right-wing leader Marine Le Pen in the French presidential election Sunday, concluding a campaign season which had seen Le Pen criticize the European Union and threaten a "Frexit" referendum. 3. Following its Q1 earnings report Friday, Warren Buffett's Berkshire Hathaway (BRK.A) held its annual shareholder meeting this weekend, where the famed investor lamented missing the meteoric ascent of Alphabet (GOOG) and Amazon (AMZN), conceded that he thought IBM (IBM) "would do better" than it has, and said his bet on American Airlines (AAL), Delta (DAL), United (UAL) and Southwest (LUV) should return a "fair amount" if the carriers avoid price wars. 4. Disney's (DIS) "Guardians Of The Galaxy Vol. 2" kicked off the summer movie season with $145M in the U.S., debuting more than 54% above its 2014 predecessor. 5. Amazon, TJX (TJX), Ross Stores (ROST), Burlington Stores (BURL), Novartis (NVS), General Motors (GM), Ford (F), OceanFirst Financial (OCFC), Regeneron (REGN) and Mohawk (MHK) saw positive mention in Barron's, while Tesla (TSLA) was discussed more cautiously.

CMCSA

Comcast

$39.01

0.72 (1.88%)

CMCSK

Comcast

$58.00

(0.00%)

CHTR

Charter

$334.78

12.18 (3.78%)

SBGI

Sinclair Broadcast

$36.95

0.2 (0.54%)

TRCO

Tribune Media

$40.29

0.7 (1.77%)

DHT

DHT Holdings

$4.58

0.01 (0.22%)

FRO

Frontline

$6.33

-0.01 (-0.16%)

AKZOY

AkzoNobel

$28.53

-0.66 (-2.26%)

PPG

PPG

$110.56

0.67 (0.61%)

BRK.A

Berkshire Hathaway

$250,000.00

460 (0.18%)

BRK.B

Berkshire Hathaway

$166.55

0.21 (0.13%)

GOOG

Alphabet

$927.13

-4.53 (-0.49%)

GOOGL

Alphabet Class A

$950.28

-4.44 (-0.47%)

AMZN

Amazon.com

$934.15

-3.38 (-0.36%)

IBM

IBM

$155.05

-4 (-2.51%)

AAL

American Airlines

$44.51

0.6 (1.37%)

DAL

Delta Air Lines

$48.70

0.06 (0.12%)

UAL

United Continental

$75.30

0.39 (0.52%)

LUV

Southwest

$58.40

0.06 (0.10%)

DIS

Disney

$111.99

0.82 (0.74%)

TJX

TJX

$78.69

-0.28 (-0.35%)

ROST

Ross Stores

$64.70

0.13 (0.20%)

BURL

Burlington Stores

$101.54

1.68 (1.68%)

NVS

Novartis

$77.82

0.01 (0.01%)

GM

General Motors

$33.77

0.62 (1.87%)

F

Ford

$11.14

0.14 (1.27%)

OCFC

OceanFirst Financial

$28.10

-0.13 (-0.46%)

REGN

Regeneron

$429.00

-5.31 (-1.22%)

MHK

Mohawk

$232.20

-0.36 (-0.15%)

TSLA

Tesla

$308.35

12.89 (4.36%)

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CMCSA Comcast
$39.01

0.72 (1.88%)

04/20/17
BTIG
04/20/17
NO CHANGE
BTIG
Comcast should try 'hail mary' Charter acquisition, says BTIG
BTIG analyst Rich Greenfield makes the case that Comcast's (CMCSA) "window for M&A is simply to enticing too ignore" and lays out six potential targets that would "truly be transformative," with his top pick among the group being Charter (CHTR). A combination of Charter with Comcast would have "all of the benefits of the legacy Time Warner Cable deal with even more scale" and even though odds of approval are no better than 50/50, it is worth throwing that "hail-mary," Greenfield tells investors. The other five possible deals that Greenfield makes the case for are Disney (DIS), Verizon (VZ), Netflix (NFLX), T-Mobile (TMUS) and Snap Inc.'s (SNAP) Snapchat.
04/24/17
OPCO
04/24/17
NO CHANGE
OPCO
Sprint, DISH the only assets for sale, says Oppenheimer
Oppenheimer analyst Timothy Horan noted that wireless companies will be allowed to discuss M&A, and says he sees Sprint (S) and possibly DISH (DISH) as the only assets for sale. The analyst believes the most likely outcome is for consolidation around the four major wireless providers, something along the lines of Charter (CHTR)/Sprint, T-Mobile (TMUS)/Comcast (CMCSA; CMCSK), Verizon (VZ)/DISH, with AT&T's (T) position "fairly solidified" with DirectTV/Time Warner (TWX). Further, Horan suspects Sprint will be sold first, most likely to Charter, although T-Mobile is a possibility and could be the controlling company/management and likely paying a premium for Sprint.
04/26/17
FBCO
04/26/17
NO CHANGE
Target $37
FBCO
Outperform
Hulu stake could be for sale this year, says Credit Suisse
Credit Suisse analyst Omar Sheikh notes that Comcast (CMCSA; CMCSK) will be free to sell its 30% stake in Hulu from the end of 2017. The analyst believes there is a $100B domestic revenue opportunity for targeted TV advertising long-term, which vertically integrated networks/distributors will be in a strong position to exploit. Therefore, Sheikh argues that it would make sense for 21st Century Fox (FOX; FOXA) to acquire Comcast's stake in Hulu, if it becomes available, subject to valuation and appropriate programming supply agreements. He reiterates an Outperform rating and $37 price target on 21st Century Fox's shares.
04/20/17
WELS
04/20/17
NO CHANGE
WELS
Comcast shares attractive into Q1 results, says Wells Fargo
Wells Fargo says that Comcast's stock is very attractive ahead of its Q1 results. The firm increased its Q1 cable network and film estimates for the company, and raised its overall Q1 estimates above consensus levels. It keeps an Outperform rating on the shares.
CMCSK Comcast
$58.00

(0.00%)

02/03/17
OPCO
02/03/17
NO CHANGE
OPCO
Content/application acquisitions more likely for Verizon, says Oppenheimer
Oppenheimer analyst Timothy Horan says that while he does see a merger with Charter (CHTR) and especially with Comcast (CMCSA) working financially, he believes Verizon (VZ) has its sights set on becoming a platform for digital content/apps monetized with programmatic advertising. This, combined with using wireless technologies to replace wireline broadband, could be "very disruptive to the cable industry," he adds. The analyst sees further acquisitions of content/application companies as more likely for Verizon.
CHTR Charter
$334.78

12.18 (3.78%)

05/03/17
05/03/17
DOWNGRADE

Hold
Wunderlich downgrades Charter on valuation, sees some level of M&A priced in
As previously reported, Wunderlich analyst Matthew Harrigan downgraded Charter (CHTR) to Hold from Buy, citing valuation. He thinks that the current stock price imbeds some expectation for merger activity, apart from an eventual collapse of the Liberty Broadband (LBRDA) and Liberty Ventures (LVNTA) ownership structure, he tells investors. While a theoretical merger with Verizon (VZ) is "at least as strategically compelling" as AT&T's (T) deal for Time Warner (TWX), Harrigan thinks that price and regulatory hurdles could be difficult to overcome. He cut his price target on Charter to $350 from $360.
05/03/17
UBSW
05/03/17
NO CHANGE
Target $380
UBSW
Buy
Charter price target raised to $380 from $345 at UBS
UBS analyst John Hodulik raised his price target on Charter to $380 from $345 following Q1 results. The analyst noted the company is working its way through the clean-up of the Time Warner Communications promotions, which hampered growth but do not change his fundamental thesis on the industry or the company. Hodulik said trends are starting to turn, with Spectrum pricing and packaging and additional merger synergies leading him to raise his price target. Hodulik reiterated his Buy rating on Charter shares.
05/03/17
RHCO
05/03/17
NO CHANGE
RHCO
Charter weakness creates buying opportunity, says SunTrust
After Charter reported weaker than expected Q1 results, SunTrust analyst Greg Miller says that the miss is a "near-term hiccup," and he thinks that his long-term positive thesis on the stock remains intact. He recommends buying the shares on weakness.
05/03/17
WDLK
05/03/17
DOWNGRADE
WDLK
Hold
Charter downgraded to Hold from Buy at Wunderlich
SBGI Sinclair Broadcast
$36.95

0.2 (0.54%)

11/03/16
SPHN
11/03/16
UPGRADE
SPHN
Overweight
Sinclair Broadcast upgraded to Overweight from Equal Weight at Stephens
01/25/17
SPHN
01/25/17
NO CHANGE
SPHN
FCC Chairman change positive for Nexstar, Sinclair Broadcast, says Stephens
Stephens analyst Kyle Evans notes that President Donald Trump named Ajit Pai the new Federal Communications Commission Chairman, which he sees as a positive for TV broadcasters, especially Nexstar (NXST) and Sinclair Broadcast (SBGI) as they would be the most likely to benefit if the FCC relaxed M&A restrictions.
05/04/17
WELS
05/04/17
NO CHANGE
WELS
Sinclair Broadcast weakness overdone, says Wells Fargo
Wells Fargo blamed the decline in Sinclair's (SBGI) stock on what it sees as the company's "soft" Q2 guidance and Time Warner's (TWX) comments about soft national ad trends. However, Wells says that Sinclair's reiteration of its 2017-2018 free cash flow guidance and "continued diversification" are more important. Wells says that the stock's weakness is overdone and keeps an Outperform rating on the stock.
03/02/17
WELS
03/02/17
NO CHANGE
WELS
Tribune Media worth $37-$51 per share, says Wells Fargo
After Reuters reported that Sinclair Broadcast (SBGI) is interested in Tribune's (TRCO) assets, Wells Fargo estimates that the sum of the parts valuation of Tribune is $37-$51 per share. The firm says that the most likely scenario is that Tribune will sell WGNA and some of its stations to Sinclair. Wells raised its price target on Tribune to $40-$44 from $32-$34 and keeps an Outperform rating on the shares.
TRCO Tribune Media
$40.29

0.7 (1.77%)

06/01/16
06/01/16
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. Nike (NKE) downgraded to Neutral from Buy at BofA/Merrill and to Equal Weight from Overweight at Morgan Stanley. Morgan Stanley analysts led by Jay Sole saying the U.S. athletic apparel category has weakened and competition is increasing and BofA/Merrill analyst Robert Ohmes arguing the he believes Nike is losing share in North American for the first time since 2010 and Under Armour (UA) and adidas are now leading market share growth. 2. Tribune Media (TRCO) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Ryan Fiftal saying shares are up 20% year-to-date but local TV stations have underperformed national and TV comps, skewing risk/reward to the downside. 3. Celgene (CELG) downgraded to Neutral from Buy at BTIG with analyst Dane Leone saying he is unsure of upside to current consensus estimates as the bulk of company sales growth through 2020 is reliant on Revlimid penetrating Non-Hodgkin Lymphoma's, and a number of new promising therapies are under development for B-cell malignancies. 4. Medtronic (MDT) downgraded to Neutral from Buy at BTIG with analyst Sean Lavin basing the downgrade on full valuation and recent operating margin misses that are pressuring forward estimates. 5. Patterson-UTI (PTEN) and Precision Drilling (PDS) downgraded to Underperform from Neutral at Credit Suisse with analyst James Wicklund saying current spot market dayrates will likely fall when incremental rigs go to work. 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
WELS
04/20/17
DOWNGRADE
WELS
Market Perform
Tribune Media downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Marci Ryvicker downgraded Tribune Media to Market Perform saying she no longer believes the company is going to be sold at a share price materially higher than current levels. Ryvicker lowered her estimates to reflect a tougher Q1 and cut her price target range for the shares to $38-$40 from $40-$44.
04/19/17
WELS
04/19/17
DOWNGRADE
WELS
Market Perform
Tribune Media downgraded to Market Perform from Outperform at Wells Fargo
DHT DHT Holdings
$4.58

0.01 (0.22%)

12/20/16
MAXM
12/20/16
INITIATION
Target $7.5
MAXM
Buy
DHT Holdings resumed with a Buy at Maxim
Maxim resumed coverage on Nordic American Tankers with a Buy and a $7.50 price target.
03/09/17
FBCO
03/09/17
NO CHANGE
Target $8
FBCO
Neutral
Credit Suisse views Frontline, DHT Holdings potential deal as 'a win-win'
Credit Suisse analyst Gregory Lewis notes that Frontline's (FRO) initial waltz with DHT Holdings (DHT) was short lived as the latter quickly rebuffed the implied $5.09 offer price. Nonetheless, the analyst believes that should the deal close he would view it as "a win-win" for both Frontline and DHT Holdings shareholders. He would expect the deal to increase economies of scale for Frontline and increase its stock liquidity, two things that should drive a higher valuation. Lewis reiterates a Neutral rating and $8 price target on Frontline's shares.
11/03/16
PART
11/03/16
UPGRADE
PART
Buy
DHT Holdings upgraded to Buy from Hold at Pareto
09/26/16
WELS
09/26/16
INITIATION
WELS
Market Perform
DHT Holdings initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Webber started DHT Holdings with a Market Perform rating and $5-$6 price target range.
FRO Frontline
$6.33

-0.01 (-0.16%)

AKZOY AkzoNobel
$28.53

-0.66 (-2.26%)

04/21/17
JPMS
04/21/17
NO CHANGE
Target $110
JPMS
Overweight
PPG would be worth over $130/share with Akzo deal, says JPMorgan
JPMorgan analyst Jeffrey Zekauskas believes PPG Industries (PPG) will bid higher for AkzoNobel (AKZOY) given the accretion potential of the deal. A bid above EUR 90 per share will likely prove attractive to the Akzo shareholder, Zekauskas tells investors in a research note. The analyst believes PPG would be worth in excess of $130 per share following a takeover of Akzo. He continues to view PPG as a good long-term investment and keeps an Overweight rating on the shares with a $110 price target.
03/14/17
BOFA
03/14/17
UPGRADE
BOFA
Neutral
AkzoNobel upgraded to Neutral from Underperform at BofA/Merrill
04/21/17
FBCO
04/21/17
NO CHANGE
Target $109
FBCO
Outperform
PPG price target raised to $109 from $104 at Credit Suisse
Credit Suisse analyst Christopher Parkinson raised his price target for PPG (PPG) to $109 from $104 after the company posted a "solid" Q1 performance. While Q2 will still present challenges from raw material inflation and key markets remain sluggish, the analyst feels the prospect of an AkzoNobel (AKZOY) deal will keep relative performance moving in the right direction. He reiterates an Outperform rating on PPG's shares.
03/23/17
RBCM
03/23/17
NO CHANGE
RBCM
AkzoNobel could be acquired for EUR100 per share, says RBC Capital
After PPG (PPG) made a second, EUR 88 per share bid for Akzo Nobel (AKZOY) and the bid was rejected, RBC Capital analyst Arun Viswanathan says that a hypothetical EUR 100 per share bid is "a fair value and one Akzo might be more willing to accept." The analyst says that such a deal would be accretive for PPG if it was done in all cash.
PPG PPG
$110.56

0.67 (0.61%)

03/15/17
ATLE
03/15/17
UPGRADE
Target $125
ATLE
Overweight
PPG upgraded to Overweight from Neutral at Atlantic Equities
Atlantic Equities analyst Colin Isaac upgraded PPG to Overweight and raised his price target for the shares to $125 from $110.
BRK.A Berkshire Hathaway
$250,000.00

460 (0.18%)

03/20/17
MSCO
03/20/17
INITIATION
Target $275000
MSCO
Equal Weight
Berkshire Hathaway initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Kai Pan initiated Berkshire Hathaway with an Equal Weight and a $275,000 price target saying valuation is fair.
03/20/17
03/20/17
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. Monness Crespi analyst James Cakmak initiated Snap (SNAP) with a Buy and a $25 price target. 2. Workday (WDAY) initiated with a Buy at BofA/Merrill. 3. Berkshire Hathaway (BRK.A) initiated with an Equal Weight at Morgan Stanley. 4. MeetMe (MEET) initiated with a Buy at Canaccord. 5. ARC Document (ARC) resumed with a Buy at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/22/17
02/22/17
NO CHANGE

Morgan Stanley would not dismiss possibility of Berkshire buying an airline
With Warren Buffett's Berkshire Hathaway (BRK.A) recently disclosing an increase to its overall airline exposure, making the firm a number one or two holder for each of the "Big 4," Morgan Stanley polled investors and found that about 60% do not expect this to be a step towards a full-scale acquisition. However, analyst Rajeev Lalwani said the prospect of Berkshire buying an airline is a possibility that is "not worth dismissing," citing the historical precedent of Buffett's involvement in the rail industry and eventual deal to buy Burlington Northern SantaFe in 2009. The top four U.S. airlines include American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV) and United Continental (UAL).
BRK.B Berkshire Hathaway
$166.55

0.21 (0.13%)

01/03/17
ARGS
01/03/17
INITIATION
ARGS
Hold
Berkshire Hathaway initiated with a Hold at Argus
Argus analysts Stephen Biggar and Mike Jaffe started coverage of Berkshire Hathaway with a Hold rating. The analysts expect the company's earnings growth to come in below that of the market in 2017, and they are concerned about the company's succession plan for Chairman and CEO Warren Buffet and Vice Chairman Charlie Munger. The analysts say that the men "will be difficult to replace." They believe that the stock appears to be fairly valued at current levels.
GOOG Alphabet
$927.13

-4.53 (-0.49%)

05/03/17
OPCO
05/03/17
NO CHANGE
Target $70
OPCO
Outperform
Akamai price target lowered to $70 from $80 at Oppenheimer
Oppenheimer analyst Timothy Horan lowered his price target for Akamai (AKAM) to $70 from $80 after the company reported a "solid quarter," but guidance implies that its media business is under secular pressure, as despite very aggressive price declines last year it is still losing market share with further competition to hit from Google (GOOG; GOOGL) and other new entrants. The analyst reiterates an Outperform rating on Akamai's shares.
04/28/17
OPCO
04/28/17
NO CHANGE
Target $1050
OPCO
Outperform
Alphabet price target raised to $1050 from $1000 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Alphabet to $1050 from $1000 after the company reported better than expected Q1 results. The analyst says that Alphabet appears to be "firing on all cylinders" as Websites gross revenue growth accelerated, YouTube brand safety issue has been taken care of, YouTube user engagement is increasing, YouTube TV now launched in five cities, and other bets thriving, with stable to declining losses. Helfstein reiterates an Outperform rating on the shares.
04/28/17
WEDB
04/28/17
NO CHANGE
WEDB
Alphabet 'TAC pressures are an issue,' says Wedbush
After Alphabet (GOOG, GOOGL) reported stronger than expected Q1 results, Wedbush analyst James Dix says that traffic acquisition costs are "an issue" for the company, as sites TAC as a percentage of Sites revenue rose to 10.4% from 8.5% during the same period a year earlier. Additionally, the analyst says that it's too early to assess the impact on Alphabet of Amazon's new ad products and YouTube's difficulties. He keeps a Neutral rating on Alphabet.
04/28/17
NEED
04/28/17
NO CHANGE
Target $1050
NEED
Buy
Alphabet price target raised to $1050 from $935 at Needham
Needham analyst Kerry Rice raised his price target for Alphabet to $1050 from $935 after the company posted "another solid quarter" with Q1 revenue and EPS exceeding expectations. Looking ahead, the analyst believes the trends driving solid growth over the last few quarters are sustainable, and expects operating margin to modestly expand in 2017. He reiterates a Buy rating on the shares.
GOOGL Alphabet Class A
$950.28

-4.44 (-0.47%)

04/28/17
GSCO
04/28/17
NO CHANGE
Target $1100
GSCO
Conviction Buy
Alphabet price target raised to $1,100 from $970 at Goldman Sachs
Goldman Sachs analyst Heather Bellini raised Alphabet's price target to $1,100 from $970 saying the company continues to be exposed to some of the best secular growth drivers in tech and reiterates a Conviction Buy rating.
AMZN Amazon.com
$934.15

-3.38 (-0.36%)

04/28/17
NEED
04/28/17
NO CHANGE
Target $1150
NEED
Buy
Amazon.com price target raised to $1150 from $1100 at Needham
Needham analyst Kerry Rice raised his price target for Amazon.com to $1150 from $1100 after the company reported "solid Q1 results" with revenue and CSOI beating expectations. The analyst reiterates a Buy rating on the shares.
04/28/17
04/28/17
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 Sector Weight from Overweight at KeyBanc with analyst Edward Yruma saying while first quarter results were "impressive," increased competition may "dampen near-term upside." 2. U.S. Steel (X) downgraded to Underperform, price target $18 at Macquarie with analyst Aldo Mazzaferrociting a reduced earnings outlook. The analyst expects the company to miss the earnings rebound from better market conditions due to the expanded and accelerated long-term asset revitalization program that will result in production outages, higher maintenance spending, and lost sales. 3. Gigamon (GIMO) downgraded to Market Perform from Outperform at William Blair, to Neutral from Buy at Dougherty, and to Neutral from Outperform at Credit Suisse. 4. Mattel (MAT) downgraded to Hold from Buy at Argus with analyst John Staszak citing concerns about falling revenues and increasing losses. 5. Expedia (EXPE) downgraded to Hold from Buy at Stifel with analyst Scott Devitt 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.
04/28/17
OPCO
04/28/17
NO CHANGE
OPCO
Outperform
Amazon.com eCommerce gross profit stable, says Oppenheimer
Oppenheimer analyst Jason Helfstein notes that Amazon.com reported better Q1 results on eCommerce and its normal conservative forward quarter guidance, with the high end of revenue guidance 2% above the Street's estimate. However, the analyst points out that AWS reported the smallest year over year EBIT margin improvement, suggesting it is doubling-down on headcount related to software and value-added services. The analyst has an Outperform rating on the shares.
05/04/17
BMOC
05/04/17
UPGRADE
BMOC
Outperform
Sysco upgraded on attractive attributes at BMO Capital
As noted earlier, BMO Capital upgraded Sysco to Outperform from Market Perform. Analyst Kelly Bania says that investors may rotate into Sysco, given what she sees as the company's "similar financial profile to consumer staple stocks" and its lower risk compared with many of the names in that category. The analyst says that food service volumes appear to be steady, while the company is more protected from Amazon (AMZN) than many consumer staple names. Target to $60 from $56.
IBM IBM
$155.05

-4 (-2.51%)

04/19/17
SOCG
04/19/17
DOWNGRADE
SOCG
Sell
IBM downgraded to Sell from Hold at Societe Generale
04/19/17
BOFA
04/19/17
NO CHANGE
Target $200
BOFA
Buy
IBM pullback a buying opportunity, says BofA/Merrill
BofA/Merrill analyst Wamsi Mohan said IBM's full year guidance remains unchanged and achievable driven by the new Mainframe cycle ramp, lower dilution from prior M&A, completion of deal previously pushed out, and improving trends in GBS. The analyst said the 3.5% dividend yield limits incremental downside and views the weakness as a buying opportunity. Mohan has a Buy rating and a $200 price target on shares.
04/19/17
JEFF
04/19/17
NO CHANGE
Target $135
JEFF
Underperform
IBM price target lowered to $135 from $145 at Jefferies
Jefferies analyst James Kisner lowered his price target for IBM shares to $135 saying last night's earnings results were "poor quality" given the large contribution from intellectual property income and an artificially low tax rate. The analyst views the quarter as supporting his view that IBM's recently poor earning quality "masks ongoing secular headwinds that will likely result in disappointment for investors." He reiterates an Underperform rating on IBM. The stock in premarket trading is down 5% to $161.12.
04/20/17
ARGS
04/20/17
NO CHANGE
ARGS
IBM a value play that's 'becoming a growth story,' says Argus
After IBM reported lower than expected revenue and what Argus analyst Jim Kelleher sees as "weak" gross margins, the analyst says that the stock remains a value play, given its decline from its peak prices above $215. However, the analyst thinks that the company is on the path to becoming a unique cloud and cognitive paltform" and is transitioning to "a growth story." The analyst is upbeat on the company's Watson solution and keeps a $192 price target and a Buy rating on the stock.
AAL American Airlines
$44.51

0.6 (1.37%)

04/27/17
JPMS
04/27/17
DOWNGRADE
Target $52
JPMS
Neutral
American Airlines downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jamie Baker downgraded American Airlines (AAL) to Neutral saying he's troubled by the company's $1B wealth transfer to labor groups. American disclosed yesterday that it chose to harmonize its flight attendant and pilot wage rates with those of Delta (DAL) and United (UAL), driving increases of roughly 5% and 8%, respectively, over the remainder of current contracts, Baker tells investors in a research note. This will drive an estimated $230M in increased 2017 labor expense, followed by increases of $350M in both 2018 and 2019, the analyst adds. The agreement "establishes a worrying precedent" both for American and the industry, Baker tells investors. The analyst cut his price target for American shares to $52 from $59. The stock closed yesterday down 21c to $46.40.
04/27/17
04/27/17
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. Eli Lilly (LLY) downgraded to Hold from Buy at Argus with analysts Katelyn Bayone and John Eade citing valuation. 2. American Airlines (AAL) downgraded to Neutral from Overweight at JPMorgan with analyst Jamie Baker saying he's troubled by the company's $1B wealth transfer to labor groups. The analyst cut his price target for American shares to $52 from $59. 3. Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Baird with analyst David Tarantino citing disappointing first quarter results. The analyst also cited its weak guidance and a disappointing update on core operating fundamentals. Tarantino believes shares will remain range bound until the company demonstrates more top-line momentum. Tarantino lowered his price target to $160 from $170 on Buffalo Wild Wings shares. 4. Wyndham (WYN) downgraded to Underperform from Peer Perform at Wolfe Research with the firm saying shares are rich given earnings headwinds and should trade at a discount to timeshare peers. 5. RBS (RBS) downgraded to Sell from Hold at Investec. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/23/17
STFL
03/23/17
NO CHANGE
STFL
American Airlines added to Select List at Stifel
Stifel analyst Joseph W. DeNardi says that American Airlines (AAL) is "significantly" undervalued, given the growth and the value of its loyalty program. The analyst now identifies American as his top airline pick and added it to the firm's Select List, replacing Southwest (LUV).
03/22/17
03/22/17
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. Morgan Stanley analyst Rajeev Lalwani downgraded American Airlines (AAL) to Equal Weight from Overweight, calling it one of the most leveraged cyclical names in the airlines group, with weak margins, a high debt profile, and facing pricing pressures from rising capacity in key markets. 2. Cowen analyst Gautam Khanna downgraded TransDigm (TDG) to Market Perform from Outperform. The analyst cited the outside prospect of a Department of Defense inquiry, the potential elimination of the interest deductibility for tax purposes, high financial leverage, and headline risks. 3. KeyBanc analyst Todd Thomas downgraded L Brands (LB) to Underweight from Sector Weight with a $40 price target to reflect both high C-mall exposure and emerging headwinds in its Victoria Secret and Bath and Body Works brands. 4. Citi analyst Kate McShane downgraded Kate Spade (KATE) to Neutral, saying the potential takeout premium priced into the shares has created a more balanced risk/return setup. The analyst raised her price target for the shares to $24 from $18. 5. Stifel downgraded General Mills (GIS) to Hold from Buy and lowered its price target to $60 from $67, as analyst Christopher Growe voiced increased concerns regarding sales improvement at the company and the related margin improvement outlook. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DAL Delta Air Lines
$48.70

0.06 (0.12%)

04/04/17
EVER
04/04/17
NO CHANGE
Target $56
EVER
Outperform
Delta Air Lines weakness a buying opportunity, says Evercore ISI
Evercore ISI analyst Duane Pfenningwerth recommends looking beyond Delta's March monthly passenger unit revenue as he expects an acceleration into the June quarter given his increased confidence in domestic and leisure, and Delta's commitment to keep capacity in check. The analyst would use weakness as a buying opportunity and reiterates his Buy rating and a $56 price target.
03/22/17
MSCO
03/22/17
NO CHANGE
MSCO
US Airlines industry downgraded to In-Line from Attractive at Morgan Stanley
Morgan Stanley analyst Rajeev Lalwani downgraded the US Airlines sector to In-Line from Attractive due to increasing domestic supply, estimated at +4-5% for 2017/2018, margin deterioration stagnated pricing. Lalwani is forecasting flat RASM in 2017/2018 versus consensus of +1% and maintained said higher supply/lower fuel costs maintain his consensus earnings and restrain valuations. The analyst prefers high quality names Delta Air Lines (DAL), Southwest (LUV), and Alaska Air (ALK) and downgraded American Airlines (AAL) to Equal Weight given leverage and mix.
04/13/17
SBSH
04/13/17
NO CHANGE
Target $63
SBSH
Buy
Citi says Delta cheapest way to play airlines earnings recovery
Citi analyst Kevin Crissey reiterates a Buy rating Delta Air Lines following the company's Q1 results and upped his price target for the shares to $63 from $62. The quarter contained no surprised while the Q2 outlook is supportive of a pricing recovery, Crissey tells investors in a research note. Delta shares offer the "cheapest, lowest risk" way to play the airlines earnings recovery in 2018, the analyst contends.
UAL United Continental
$75.30

0.39 (0.52%)

03/20/17
STFL
03/20/17
NO CHANGE
STFL
Airlines loyalty programs undervalued, says Stifel
Stifel analyst Joseph DeNardi believes that investors are undervaluing airlines' loyalty programs and that airlines can remedy this situation by disclosing the financial metrics of their loyalty programs. He raised his price target on American (AAL) to $95 from $65, on Delta (DAL) to $75 from $65, on United Continental (UAL) to $125 from $95 and on Southwest (LUV) to $80 from $65. As noted earlier, he upgraded Alaska Air to Buy from Hold with a $145 price target.
04/11/17
BUCK
04/11/17
NO CHANGE
BUCK
United Continental long-term outlook remains positive, says Buckingham
Buckingham analyst Daniel McKenzie says that investors are worried that United Continental's capacity increases slated for this summer could trigger reactions by competitors and revenue misses. However, he says that the company's pre-tax earnings should rise by $2.5B in 2017 and 2018, versus the 17% decline in pre-tax earnings that the Street expects. He continues to believe that the company's EPS can reach $11 in one to three years, enabling its stock to rise to $125-$135. The analyst keeps a Buy rating on the shares.
04/18/17
COWN
04/18/17
NO CHANGE
Target $75
COWN
Market Perform
United Continental shares should react positively to guidance, says Cowen
Cowen analyst Helane Becker noted United Continental reported adjusted Q1 earnings ahead of consensus and gave good Q2 guidance, suggesting an improving revenue environment. Becker expects the shares to react positively to the guidance and expects the company to continue to spend time and commit to improved customer relations. Becker maintained her Market Perform rating and $75 price target on United Continental shares.
LUV Southwest
$58.40

0.06 (0.10%)

03/13/17
UBSW
03/13/17
NO CHANGE
UBSW
Buy
Weakness in airline sector a buying opportunity, says UBS
UBS analyst Darryl Genovisi said the recent dip in airline shares provides a buying opportunity. The analyst noted most of the airlines have cut their PRASM guidance for Q1 and with the miss already priced in and a better outlook for Q2, investors should be buyers of the group. Genovisi prefers United Continental (UAL) followed by Delta (DAL) and Southwest (LUV).
DIS Disney
$111.99

0.82 (0.74%)

04/24/17
LOOP
04/24/17
DOWNGRADE
Target $118
LOOP
Hold
Disney downgraded to Hold from Buy at Loop Capital
Loop Capital analyst David Miller downgraded Disney to Hold from Buy citing valuation following the stock hitting a 52-week high on Friday. The strength in the stock over the last nine months has appropriately priced in the company's growth rate, said Miller, who maintains a $118 price target on Disney shares.
05/05/17
SBSH
05/05/17
NO CHANGE
SBSH
Netflix tops Citi's list of potential takeover targets for Apple
With over 90% of Apple's (AAPL) nearly $250B of cash sitting overseas, a one-time 10% repatriation tax would give the company $220B for acquisitions or buybacks, Citi analyst Jim Suva tells investors in a research note titled "Addressing the Problem of Too Much Cash." The analyst identified seven potential takeover targets for the iPhone market using five filters: strategic fit, global scale, transaction size, few non-strategic assets and the likely impact on Apple's share price. The analyst's potential targets for Apple are Netflix (NFLX), Disney (DIS), Hulu, Activision Blizzard (ATVI), Electronic Arts (EA), Take-Two Interactive (TTWO) and Tesla (TSLA). Each of these names bring some strategic benefit to Apple, Suva argues. The analyst gave Netflix the highest likelihood of being acquired with a 40% probability. Disney is next at 25%, with the rest at 10% or below. Suva believes a hybrid approach to the large cash position may be Apple's best path. The iPhone maker, for example, could acquire Netflix with one-third of the cash and use the remaining two-thirds for buybacks, Suva contends.
04/24/17
04/24/17
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. Disney (DIS) downgraded to Hold from Buy at Loop Capital with analyst David Miller citing valuation following the stock hitting a 52-week high on Friday. The strength in the stock over the last nine months has appropriately priced in the company's growth rate, said Miller, who maintains a $118 price target on Disney shares. 2. Groupon (GRPN) downgraded to Underweight on lackluster ad spend at Morgan Stanley with analyst Brian Nowak saying its recent local advertiser survey indicate lackluster forward advertiser spending and believes Groupon will need to spend more in order to grow North America Local Billings, which the Street seems to be underestimating. 3. Grainger (GWW) downgraded to Market Perform from Outperform at William Blair with analyst Ryan Merkel citing a lack of confidence in the company's repricing strategy. 4. Bank of America (BAC) downgraded to Hold from Buy at Berenberg with analyst James Chappell saying it is time to take profits. Interest rates unlikely to rise as much as has been priced into bank equity valuations, Chappell tells investors in a research note. Further, regulation and tax reform are likely to take longer than expected and not be as beneficial for the banks as many might have hoped, the analyst adds. He upped his price target for Bank of America shares to $22 from $15. 5. DuPont Fabros (DFT) downgraded to Hold from Buy at Stifel with analyst Matthew Heinz saying shares are fully valued and demand patterns have shifted. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TJX TJX
$78.69

-0.28 (-0.35%)

12/19/16
12/19/16
NO CHANGE

Wells Fargo identifies retailers best positioned for Trump policies
Wells Fargo identifies Burlington Stores (BURL), TJX (TJX), Ross Stores (ROST), Tiffany (TIF), Signet Jewelers (SIG), Ulta Beauty (ULTA) and Foot Locker (FL) as the retailers that are best positioned to benefit from upcoming federal policy changes.
02/10/17
SUSQ
02/10/17
INITIATION
Target $92
SUSQ
Positive
TJX initiated with a Positive at Susquehanna
Target $92.
03/16/17
GSCO
03/16/17
UPGRADE
Target $97
GSCO
Conviction Buy
TJX upgraded to Conviction Buy from Buy at Goldman
Goldman Sachs analyst Matthew Fassler upgraded TJX to Conviction Buy saying the company offers long-term secular growth along with near-term catalysts. The analyst expects TJX to grow market share at the expense of department stores. He has a $97 price target for the shares.
03/16/17
03/16/17
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. Oracle (ORCL) was upgraded to Market Perform from Underperform at JMP Securities and to Overweight from Neutral at JPMorgan. 2. GoPro (GPRO) upgraded to Neutral from Sell at Citi with analyst Stanley Kovler saying the recent stabilization in revenue as well as the company's "significant" restructuring initiatives accelerate its path to profitability to 2017 from 2019. These developments should, at the very least, stave off the bear scenario for a few quarters, Kovler tells investors in a research note. He raised his price target for GoPro shares to $9 from $8. 2. TJX (TJX) upgraded to Conviction Buy from Buy at Goldman with analyst Matthew Fassler saying the company offers long-term secular growth along with near-term catalysts. The analyst expects TJX to grow market share at the expense of department stores. 4. Inovio (INO) upgraded to Buy from Hold at Maxim with analyst Jason McCarthy saying it has multiple earlier stage programs moving forward with more significant data points coming in 2017 while it moves closer to its pivotal study in cervical dysplasia. He notes that his model assumes that VGX-3100 is commercialized in 2021 for cervical dysplasia. 5. Quest Diagnostics (DGX) upgraded to Neutral from Underperform at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ROST Ross Stores
$64.70

0.13 (0.20%)

03/01/17
03/01/17
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. Intel (INTC) downgraded to Underperform from Market Perform at Bernstein with analyst Stacy Rasgon saying the beginnings of a multi-year structural downturn are beginning to show. The analyst believes Intel's datacenter growth is "beginning to crack" amid compressing margins and an increasingly competitive environment. "The world seems to be moving against Intel's strengths," Rasgon writes. 2. Palo Alto Networks (PANW) downgraded to Equal Weight from Overweight at Morgan Stanley, to Market Perform at William Blair, to Neutral from Outperform at Baird, and to Neutral from Overweight at JPMorgan. 3. Waste Management (WM) downgraded to Equal Weight from Overweight at Barclays with analyst Jon Windham citing high valuations in the municipal solid waste space following the recent rally. Most of the upside from potential tax reform is already reflected in Waste Management shares, Windham tells investors in a research note. He raised his price target for the name to $73 from $70. 4. Signet Jewelers (SIG) downgraded to Market Perform from Outperform at Telsey Advisory. 5. Ross Stores (ROST) downgraded to Neutral from Buy at Citi with analyst Paul Lejuez saying the risk/reward is more balanced with the shares close to his unchanged price target to $72. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/01/17
SBSH
03/01/17
DOWNGRADE
Target $72
SBSH
Neutral
Ross Stores downgraded to Neutral from Buy at Citi
Citi analyst Paul Lejuez downgraded Ross Stores to Neutral saying the risk/reward is more balanced with the shares close to his unchanged price target to $72.
02/10/17
SUSQ
02/10/17
INITIATION
Target $80
SUSQ
Positive
Ross Stores initiated with a Positive at Susquehanna
Target $80.
BURL Burlington Stores
$101.54

1.68 (1.68%)

04/05/17
04/05/17
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. Burlington Stores (BURL) initiated with an Outperform at William Blair. 2. Booz Allen (BAH) was initiated with an In Line while CSRA (CSRA) was initiated with an Outperform at Evercore ISI. 3. Guidance Software (GUID) initiated with an Overweight at Piper Jaffray. 4. Acacia Communications (ACIA) initiated with a Neutral at B. Riley. 5. Keysight Technologies (KEYS) initiated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/17
WBLR
04/05/17
INITIATION
WBLR
Outperform
Burlington Stores initiated with an Outperform at William Blair
William Blair analyst Daniel Hofkin started Burlington Stores with an Outperform rating saying off-price retailers are "poised for further solid growth." The analyst views Burlington's current valuation as offering an attractive risk/reward profile.
03/03/17
BMOC
03/03/17
NO CHANGE
BMOC
Burlington Stores to benefit most from mall closures, says BMO Capital
BMO Capital analyst John Morris says that many "lower tiered malls" are poised to close over the next couple years" as hundreds of department stores are shut down. The analyst thinks that Burlington can add more stores than any other discount retailer and therefore can benefit most from mall closures. He keeps an Outperform rating on Burlington.
04/28/17
WOLF
04/28/17
INITIATION
Target $113
WOLF
Outperform
Burlington Stores initiated with an Outperform at Wolfe Research
Wolfe Research initiated Burlington Stores with an Outperform and a $113 price target due to product breadth and assortment, secular growth in a difficult retail landscape, strong inventory metrics, and consistent earnings growth, among other reasons.
NVS Novartis
$77.82

0.01 (0.01%)

04/05/17
COWN
04/05/17
DOWNGRADE
Target $77
COWN
Market Perform
Novartis downgraded to Market Perform from Outperform at Cowen
Cowen analyst Steve Scala downgraded Novartis to Market Perform and lowered his price target for the shares to $77 from $87. The analyst believes the company's earnings growth looks below the industry average given the current weakness in Alcon and Entresto's slow rollout.
04/18/17
WELS
04/18/17
NO CHANGE
WELS
Allergan partnership a 'promising free option,' says Wells Fargo
Wells Fargo analyst David Maris views Allergan's (AGN) partnership with Novartis (NVS) to conduct a Phase IIb study using its cenicriviroc and Novartis's lead FXR agonist for the treatment of nonalcoholic steatohepatitis as a "promising free option." The deal is a way to maximize Allergan's shots-on-goal in combination NASH treatments, Maris tells investors in a research note. He has an Outperform rating on Allergan shares.
04/05/17
04/05/17
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. AstraZeneca (AZN) downgraded to Neutral from Buy at UBS. 2. Novartis (NVS) downgraded to Market Perform from Outperform at Cowen with analyst Steve Scala saying he believes the company's earnings growth looks below the industry average given the current weakness in Alcon and Entresto's slow rollout. 3. MSG Networks (MSGN) downgraded to Neutral following NY Post report at Macquarie with analyst Tim Nollen citing valuation and maintained its $26 price target. 4. Generac (GNRC) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jeffrey Hammond citing concerns that increased pricing incentives and normalizing storm activity are impacting the growth for the company's Residential home standby business. 5. Amgen (AMGN) downgraded to Hold from Buy at Jefferies with analyst Eun Yang saying she believes upside in the stock will likely be "muted" after her payor poll indicated continuing reimbursement challenges for Repatha, Amgen's PCSK9 inhibitor to treat high cholesterol. Yang also sees a "scarcity of blockbuster potential pipeline products" and feels a transformative acquisition is unlikely. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/21/17
ROTH
04/21/17
NO CHANGE
Target $12
ROTH
Buy
Conatus price target raised to $12 from $4 at Roth Capital
Roth Capital analyst Sa'ar Yaniv raised his price target for Conatus (CNAT) to $12 from $4 following discussions with management, 2016 results, assessment of the competitive cirrhosis space, and clarity from the Novartis (NVS) deal. The analyst believes Conatus' shares are undervalued and reiterates a Buy rating on the stock.
GM General Motors
$33.77

0.62 (1.87%)

05/02/17
JPMS
05/02/17
NO CHANGE
JPMS
Overweight
General Motors April sales only modestly softer, says JPMorgan
JPMorgan analyst Ryan Brinkman views General Motors' April sales report as only modestly softer than expected as the the lower unit sales can be largely explained by a decline in less profitable sales to fleet customers. Of more concern is the fall-off in segment mix, but average transaction prices continue to rise, Brinkman tells investors in a research note. He keeps on Overweight rating on GM.
04/25/17
JPMS
04/25/17
NO CHANGE
Target $48
JPMS
Overweight
GM Supreme Court ruling an 'incremental negative,' says JPMorgan
JPMorgan analyst Ryan Brinkman views the Supreme Court's decision to not hear and review General Motors' appeal regarding an earlier decision by a lower court to allow liability lawsuits to proceed against the company for deaths, injuries and economic value losses associated with vehicles sold prior to its bankruptcy in 2009 as an "incremental negative." The judgement significantly reduces the likelihood of a quick resolution of the pending lawsuits, but does not materially change the likelihood of GM having to pay further liabilities, Brinkman tells investors in a research note. He believes the news is a not a "game changer" for GM. The analyst keeps an Overweight rating on the shares with a $48 price target.
03/29/17
RBCM
03/29/17
NO CHANGE
Target $37
RBCM
Sector Perform
General Motors two class stock proposal a 'non-starter,' says RBC Capital
RBC Capital analyst Joseph Spak noted that the rating agencies have indicated that the Greenlight Capital's proposed "dividend" shares would be treated as General Motors debt for credit metric purposes, meaning GM would lose its investment grade rating if it pursued Einhorn's plan, which he believes makes the proposal a "non-starter." If GM successfully builds out its mobility solutions and services, Spak thinks a tracking stock on those could be an alternative to unlock value, he tells investors. Spak keeps a Sector Perform rating and $37 price target on GM shares.
04/24/17
BOFA
04/24/17
NO CHANGE
Target $42
BOFA
Neutral
General Motors Q1 likely strong but strength may fade, says BofA/Merrill
BofA/Merrill analyst John Murphy said General Motors' Q1 is set up to be another strong quarter driven by a production/inventory build in North America ahead of crossover launches and K2XX downtime. However, the analyst has a more conservative view of current industry environment and notes managements comments on potential challenges to its outlook including growth in South American and in adjacent businesses. Murphy rates General Motors a Neutral with a $42 price target.
F Ford
$11.14

0.14 (1.27%)

02/26/17
GSCO
02/26/17
DOWNGRADE
Target $41
GSCO
Neutral
Allison Transmission downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Jerry Revich downgraded Allison Transmission (ALSN) to Neutral from Buy with an unchanged price target of $41. The manufacturer of fully-automatic transmissions for trucks closed Friday up 24c to $36.79. The stock, currently trading at an 8% free cash flow yield versus 13% in Sept. 2013, offers limited upside and a balanced risk/reward profile, Revich tells investors in a research note. He also believes that the range of competitive transmission options is rising. Ford (F) is gaining share with its automotive engine and transmission, Revich points out.
05/02/17
JPMS
05/02/17
NO CHANGE
JPMS
Overweight
Ford truck demand healthy in April, says JPMorgan
JPMorgan analyst Ryan Brinkman noted that Ford's April sales of its least profitable class of vehicles - cars - fell by about 18% compared to last year, while its most profitable segment - trucks- declined by "a much more modest" 0.6% and F-Series sales rose 3.7% from last April. Ford's average transaction prices increased strongly and by a good deal more than the industry, Brinkman also noted. He keeps an Overweight rating on Ford shares, which are down about 4% in afternoon trading.
02/10/17
02/10/17
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. Ford (F) upgraded to Hold from Underperform at Jefferies with analyst Philippe Houchois upgraded Ford (F) Motor to Hold saying the company's "bad news" in the last six months has been sufficiently priced into the shares. While cyclical risks remain, Ford should benefit the most of the big three from infrastructure spending, border adjusted tax reform and exposure to a Russian auto recovery, Houchois tells investors in a research note. He raised his price target for the shares to $12 from $10. 2. CSX (CSX) upgraded to Outperform from Market Perform at Avondale. 3. Jack in the Box (JACK) upgraded to Buy from Hold at SunTrust with analyst Jake Bartlett saying he expects the company to benefit from fewer discounts in the sector and market share gains going forward. 4. Cigna (CI) upgraded to Outperform from Sector Perform at RBC Capital with analyst Frank Morgan saying the company is well positioned as a standalone entity. The analyst believes Cigna has "multiple positive levers" to drive earnings higher and sees a likelihood for "significant" capital deployment. Morgan raised his price target for the shares to $172 from $151. 5. Enerplus (ERF) upgraded to Outperform from Market Perform at BMO Capital with analyst Ray Kwan 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.
02/10/17
JEFF
02/10/17
NO CHANGE
Target $36
JEFF
Hold
Jefferies switches preference to Ford from General Motors
Jefferies analyst Philippe Houchois switched his preference to Ford Motor (F) shares from General Motors (GM) after upgrading the former to Hold. The analyst keeps a Hold rating on GM with a $36 price target. Matching last years' $6B-plus adjusted free cash "is looking challenging," Houchois tells investors in a research note.
OCFC OceanFirst Financial
$28.10

-0.13 (-0.46%)

01/30/17
SDLR
01/30/17
DOWNGRADE
Target $32
SDLR
Hold
OceanFirst Financial downgraded to Hold from Buy at Sandler O'Neill
Sandler O'Neill analyst Frank Schiraldi downgraded OceanFirst to Hold saying shares are approaching fair value and maintained its $32 price target.
REGN Regeneron
$429.00

-5.31 (-1.22%)

05/05/17
ADAM
05/05/17
UPGRADE
Target $484
ADAM
Buy
Regeneron upgraded to Buy at Canaccord
As reported previously, Canaccord analyst John Newman upgraded Regeneron to Buy from Hold. The analyst cited the strong investor sentiment toward the Dupixent launch, which he believes will drive the shares higher into Q2 and Q3 earnings. He also believes there will be less focus on Eylea revenues, despite slowing growth. Newman raised his price target to $484 from $375 on Regeneron shares.
05/05/17
UBSW
05/05/17
NO CHANGE
Target $489
UBSW
Buy
Regeneron price target raised to $489 from $446 at UBS
UBS analyst Carter Gould raised his price target on Regeneron to $489 from $446 following Q1 results. The analyst lowered his Eylea U.S. sales estimates based on Q1 trends, but he saw positives in the Dupixent update, including strong demand in atopic dermatitis. Also, the company has seen positive proof-of-concept data in eosinophilic esophagitis, which he noted was not in Street models. Gould reiterated his Buy rating on Regeneron shares.
05/05/17
ADAM
05/05/17
UPGRADE
ADAM
Buy
Regeneron upgraded to Buy from Hold at Canaccord
05/05/17
LEER
05/05/17
NO CHANGE
Target $493
LEER
Outperform
Regeneron price target raised to $493 from $448 at Leerink
Leerink analyst Geoffrey Porges raised his price target for Regeneron to $493 from $448 following quarterly results, and given the strength of peer company multiples and greater conviction about long-term profitability. The analyst reiterates an Outperform rating on the shares.
MHK Mohawk
$232.20

-0.36 (-0.15%)

05/01/17
STFL
05/01/17
NO CHANGE
STFL
Mohawk results 'somewhat better' than stock reaction, says Stifel
Stifel analyst John Baugh says that Mohawk's Q1 results "were somewhat better than the stock reaction would indicate." The analyst says that the company continues to make investments, while the increase in its raw material costs should moderate throughout the year. Baugh thinks that the company's Q2 EPS guidance miss was caused by incorrect modeling by the Street. Baugh raised his price target on the shares to $260 from $255 and keeps a Buy rating on the stock.
04/11/17
NOMU
04/11/17
INITIATION
Target $280
NOMU
Buy
Mohawk initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Michael Wood started Mohawk Industries with a Buy rating and $280 price target. The stock is one of the analyst's top ideas in the Building Products sector.
04/11/17
NOMU
04/11/17
INITIATION
Target $74
NOMU
Buy
Owens Corning initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Michael Wood started Owens Corning (OC) with a Buy rating and $74 price target. The stock is one of the analyst's top ideas in the Building Products sector along with Mueller Water (MWA), Mohawk Industries (MHK) and Armstrong World (AWI).
05/01/17
BARD
05/01/17
NO CHANGE
Target $262
BARD
Outperform
Mohawk results fell short of high expectations, says Baird
Baird analyst Timothy Wojs said Mohawk results were in line but fell short of high expectations as revenue timing and higher raw materials costs created a near-term price/cost mismatch. He believes the mismatch will be made up in the second half of the year as the company reiterated its full year guidance. Wojs reiterated his Outperform rating and raised his price target to $262 to $245 on Mohawk shares.
TSLA Tesla
$308.35

12.89 (4.36%)

05/04/17
BARD
05/04/17
NO CHANGE
Target $368
BARD
Outperform
Continued execution will drive Tesla shares higher, says Baird
Baird analyst Ben Kallo said Tesla shares should be bought at current levels following solid Q1 results. The analyst said the company beat estimates, displayed strong automotive and Telsa Energy margins, kept Model 3 production on track for July, and should ramp production of the Model 3 to around 5,000 vehicles per week by the end of the year. Kallo believes continued execution will continue to drive the shares higher. Kallo reiterated his Outperform rating and $368 price target on Tesla shares.
05/04/17
05/04/17
NO CHANGE

Bernstein worried about slowing demand for Tesla Model S, Model X
Bernstein analyst A.M. Sacconaghi, Jr is more worried about slowing demand for Tesla's Model S and Model X vehicles after the company reported that its deposits fell $48M last quarter versus the previous quarter. The analyst is also worried that Tesla will experience gross margin pressure in 2H17 as the Model 3 ramps and its depreciation expense increases significantly. Sacconaghi, Jr says that Tesla appears to be "fairly to modestly overvalued at current levels" and keeps a Market Perform rating on the shares.
05/04/17
LEHM
05/04/17
NO CHANGE
Target $165
LEHM
Overweight
Barclays points out the negatives in Tesla's quarter
While auto gross margin was good at 27.8%, Tesla's Q1 earnings were below consensus and $650M of the $1.25B the carmaker raised in its March offering has been burned, Barclays analyst Brian Johnson tells investors in a post-earnings research note titled "Enlightened but not ignorant." Further, customer deposits were down nearly $50M in the quarter, the analyst adds. Johnson says that while recent conversations with Tesla bulls left him "enlightened," he still wanted to point out the negatives in the quarter. The analyst keeps an Underweight rating on the shares with a $165 price target. The stock, despite being fundamentally overvalued, can "continue to work" over the next few months given the media hype surrounding the Model 3 launch, Johnson writes. Tesla in premarket trading is down 2%, or $6.02, to $305.00 following last night's earnings report.

TODAY'S FREE FLY STORIES

SNE

Sony

$48.38

-0.22 (-0.45%)

20:47
05/21/18
05/21
20:47
05/21/18
20:47
Hot Stocks
Sony targets operating cash flow of Y2T as part of its mid-range plan »

The company states:…

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  • 21

    May

BOFI

BofI Holding

$41.97

0.29 (0.70%)

20:40
05/21/18
05/21
20:40
05/21/18
20:40
Downgrade
BofI Holding rating change at Compass Point »

BofI Holding downgraded…

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SNE

Sony

$48.38

-0.22 (-0.45%)

20:32
05/21/18
05/21
20:32
05/21/18
20:32
Hot Stocks
Sony confirms to acquire 60% equity interest in DH Publishing which manages EMI »

Mubadala Investment…

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  • 21

    May

SNE

Sony

$48.38

-0.22 (-0.45%)

20:25
05/21/18
05/21
20:25
05/21/18
20:25
Conference/Events
Sony to hold IR Day 2018 »

Sony IR Day 2018 to be…

03/08/13
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  • 21

    May

TJX

TJX

$84.66

-0.15 (-0.18%)

, AZO

AutoZone

$665.68

13.03 (2.00%)

20:25
05/21/18
05/21
20:25
05/21/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

TJX

TJX

$84.66

-0.15 (-0.18%)

AZO

AutoZone

$665.68

13.03 (2.00%)

KSS

Kohl's

$65.47

1.79 (2.81%)

AAP

Advance Auto Parts

$119.18

0.93 (0.79%)

EV

Eaton Vance

$58.05

0.52 (0.90%)

TOL

Toll Brothers

$43.60

0.43 (1.00%)

IGT

International Game

$29.75

-0.655 (-2.15%)

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  • 22

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ADBE

Adobe

$238.00

-0.04 (-0.02%)

19:54
05/21/18
05/21
19:54
05/21/18
19:54
Recommendations
Adobe analyst commentary at JPMorgan »

Adobe adds the missing…

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  • 21

    May

SNE

Sony

$48.38

-0.22 (-0.45%)

19:36
05/21/18
05/21
19:36
05/21/18
19:36
Periodicals
Breaking Periodicals news story on Sony »

Sony to buy out remaining…

03/08/13
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  • 21

    May

K

Kellogg

$60.77

0.58 (0.96%)

19:28
05/21/18
05/21
19:28
05/21/18
19:28
Conference/Events
Kellogg management to meet with JPMorgan »

Meetings to be held New…

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  • 24

    May

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    May

ST

Sensata

$52.58

(0.00%)

19:24
05/21/18
05/21
19:24
05/21/18
19:24
Earnings
Sensata backs FY18 EPS view $3.57-$3.73 following valves business sale »

Consensus $3.66. The…

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  • 21

    May

ST

Sensata

$52.58

(0.00%)

19:22
05/21/18
05/21
19:22
05/21/18
19:22
Hot Stocks
Sensata enters $173M deal to sell its valves business to Pacific Industrial Co »

Sensata Technologies…

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  • 21

    May

ELLI

Ellie Mae

$104.16

0.35 (0.34%)

19:20
05/21/18
05/21
19:20
05/21/18
19:20
Conference/Events
Ellie Mae management to meet with JPMorgan »

Meeting to be held in…

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  • 22

    May

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    May

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    May

  • 12

    Jun

FB

Facebook

$184.48

1.79 (0.98%)

19:19
05/21/18
05/21
19:19
05/21/18
19:19
Periodicals
U.K. lawmakers seek answers from Facebook CEO on data misuse, Reuters says »

U.K. lawmakers want…

03/08/13
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  • 03

    Jun

BA

Boeing

$363.95

12.71 (3.62%)

19:18
05/21/18
05/21
19:18
05/21/18
19:18
Periodicals
Boeing Charleston workers to vote on union representation on May 31, WSJ says »

The U.S. National Labor…

03/08/13
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  • 30

    May

ESLOY

Essilor

$0.00

(0.00%)

19:17
05/21/18
05/21
19:17
05/21/18
19:17
Conference/Events
Essilor management to meet with JPMorgan »

Meeting to be held in…

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  • 23

    May

WIX

Wix.com

$85.45

-3.25 (-3.66%)

, SHOP

Shopify

$144.58

-2.45 (-1.67%)

19:06
05/21/18
05/21
19:06
05/21/18
19:06
Recommendations
Wix.com, Shopify, Adobe analyst commentary at JPMorgan »

After Magento deal, Adobe…

WIX

Wix.com

$85.45

-3.25 (-3.66%)

SHOP

Shopify

$144.58

-2.45 (-1.67%)

ADBE

Adobe

$238.00

-0.04 (-0.02%)

03/08/13
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03/06/13
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03/06/13
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  • 21

    May

  • 12

    Jun

MU

Micron

$55.48

2.11 (3.95%)

19:05
05/21/18
05/21
19:05
05/21/18
19:05
Conference/Events
Micron management to meet with Jefferies »

Meeting to be held in New…

03/08/13
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03/06/13
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  • 21

    May

  • 22

    May

  • 30

    May

GSM

Ferroglobe

$11.35

0.36 (3.28%)

, CRMT

America's Car-Mart

$54.60

-0.05 (-0.09%)

19:00
05/21/18
05/21
19:00
05/21/18
19:00
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS:…

GSM

Ferroglobe

$11.35

0.36 (3.28%)

CRMT

America's Car-Mart

$54.60

-0.05 (-0.09%)

MU

Micron

$55.48

2.11 (3.95%)

MUFG

Mitsubishi UFJ

$6.45

-0.01 (-0.15%)

AKAM

Akamai

$76.46

1.13 (1.50%)

ADBE

Adobe

$238.00

-0.04 (-0.02%)

PSTG

Pure Storage

$23.60

-0.065 (-0.27%)

NDSN

Nordson

$139.50

4.45 (3.30%)

IGT

International Game

$29.75

-0.655 (-2.15%)

LBY

Libbey

$6.84

-0.27 (-3.80%)

ARDX

Ardelyx

$5.65

-0.15 (-2.59%)

SAIL

SailPoint

$22.43

-0.16 (-0.71%)

CADE

Cadence Bancorp

$29.07

0.01 (0.03%)

TWOU

2U

$95.50

-0.16 (-0.17%)

MYOK

MyoKardia

$48.30

-3.45 (-6.67%)

SHOP

Shopify

$144.58

-2.45 (-1.67%)

AIR

AAR Corp.

$47.70

0.74 (1.58%)

03/08/13
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03/08/13
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03/06/13
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  • 21

    May

  • 21

    May

  • 21

    May

  • 21

    May

  • 22

    May

  • 22

    May

  • 22

    May

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    May

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    May

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    May

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    May

  • 22

    May

  • 24

    May

  • 30

    May

  • 06

    Jun

  • 07

    Jun

  • 12

    Jun

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    Jun

  • 13

    Jun

  • 26

    Jun

  • 10

    Jul

  • 10

    Sep

  • 24

    Sep

  • 22

    May

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    May

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    May

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    May

  • 24

    May

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    May

AVA

Avista

$52.62

0.07 (0.13%)

18:55
05/21/18
05/21
18:55
05/21/18
18:55
Hot Stocks
CFIUS says no unresolved security concerns over Hydro One-Avista deal »

Hydro One Limited and…

03/08/13
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DEST

Destination Maternity

$2.68

-0.03 (-1.11%)

18:40
05/21/18
05/21
18:40
05/21/18
18:40
Hot Stocks
Investors say Destination Maternity needs 'fresh perspectives' »

Nathan G. Miller and…

03/08/13
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  • 23

    May

ARWR

Arrowhead

$9.78

-0.21 (-2.10%)

18:35
05/21/18
05/21
18:35
05/21/18
18:35
Conference/Events
Arrowhead management to meet with Jefferies »

Meeting to be held in New…

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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  • 24

    May

JHX

James Hardie

$17.32

(0.00%)

18:31
05/21/18
05/21
18:31
05/21/18
18:31
Earnings
James Hardie reports FY18 net profit $146.1M vs. $276.5M last year »

Reports FY18 revenue…

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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WST

West Pharmaceutical

$90.13

0.88 (0.99%)

18:27
05/21/18
05/21
18:27
05/21/18
18:27
Conference/Events
West Pharmaceutical management to meet with Jefferies »

Meeting to be held in San…

03/08/13
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  • 21

    May

  • 23

    May

  • 19

    Jun

SSRM

SSR Mining

$10.30

0.02 (0.19%)

18:20
05/21/18
05/21
18:20
05/21/18
18:20
Conference/Events
SSR Mining management to meet with Jefferies »

Meeting to be held in…

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  • 23

    May

PDCE

PDC Energy

$65.33

1.57 (2.46%)

18:18
05/21/18
05/21
18:18
05/21/18
18:18
Hot Stocks
PDC Energy Amidon sells 8,045 common shares »

In a regulatory filing,…

03/08/13
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  • 19

    Aug

GSM

Ferroglobe

$11.35

0.36 (3.28%)

18:15
05/21/18
05/21
18:15
05/21/18
18:15
Conference/Events
Ferroglobe management to meet with Jefferies »

Meeting to be held in w…

03/08/13
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03/06/13
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03/06/13
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  • 22

    May

  • 22

    May

  • 22

    May

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