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WMT

Wal-Mart

$78.77

1.23 (1.59%)

, CSCO

Cisco

$31.21

-0.17 (-0.54%)

16:38
05/19/17
05/19
16:38
05/19/17
16:38

Stocks bounce back from mid-week slide to finish slightly lower

Stocks finally saw some volatility, dropping sharply on Wednesday following reports President Trump may have obstructed justice by asking then FBI Director James Comey to drop his investigation of Michael Flynn's ties to Russia. The averages suffered their worst session of the year, but the pullback was short-lived, as investors once again stepped in to "buy the dip," recouping the majority of the mid-week losses with advances on Thursday and Friday. MACRO NEWS: In the U.S., the Empire State manufacturing index fell to a seven-month low of -1.0 in May from 5.2 in April. The Philly Fed index rebounded 16.8 points to 38.8 in May, which was stronger than expected. The leading index rose 0.3% to 126.9 in April, setting a fresh record high going back to 1959. The NAHB homebuilder sentiment index rose 2 points to a reading of 70 in May. Housing starts fell 2.6% to a 1.17M rate in April while building permits declined 2.5% to a 1.23M rate, both of which were a bit worse than expected. Industrial production grew 1.0% in April, which was better than the 0.4% consensus forecast. 232,000 initial jobless claims were reported for the week of May 13, which was below the 240,000 that were forecast... In Brazil, the country's stock market and currency plummeted after a Brazilian newspaper reported that there was a secret recording of Brazil's new President Michel Temer that would implicate him in a national bribery scandal. Temer went on to say after the report that he does not plan to resign. COMPANY NEWS: Shares of Wal-Mart (WMT) advanced over 3% on Thursday after the world's largest retailer broke with the recent trend of poor results from its smaller competitors. Wal-Mart's earnings and revenues topped expectations as it reported a U.S. same-store sales increase of 1.4% and strong e-commerce growth... Cisco (CSCO) dropped by more than 7% the same day as several Wall Street analysts called its April quarter results "solid" although the company guided below expectations for the July-end quarter... Among other companies that announced quarterly results this week, Target (TGT), L Brands (LB), trivago (TRVG), Weibo (WB) and Sina (SINA) advanced immediately following their reports, while Dick's Sporting Goods (DKS) and American Eagle (AEO) declined... Shares of a number of cybersecurity solutions providers - including Proofpoint (PFPT), FireEye (FEYE), Fortinet (FTNT), Check Point (CHKP) and Symantec (SYMC) - were among the best performers on Wall Street on Monday amid headlines about the "WannaCry" ransomware cyberattack that hit businesses, hospitals and government agencies in at least 150 countries... Qualcomm (QCOM) launched the next salvo in its ongoing battle with Apple (AAPL) over disputed royalties, filing a complaint in a U.S. court against the four manufacturers of the company's iPhones and iPads on charges of breaching their license agreements and other commitments... Twitter (TWTR) co-founder Biz Stone announced on Tuesday that he is returning to the company full time in a yet-to-be-named role with a focus on guiding the company culture and shaping "the experience internally so it's also felt outside the company"... Etsy (ETSY) shares jumped over 20% on Tuesday after the new CEO of the online craft marketplace operator responded to activist shareholders who disclosed stakes in the company by noting that it is now reviewing its strategic and operational plans. Later in the week, athenahealth (ATHN) similarly surged by over 20% after activist investor Elliott Associates reported a 9.2% economic exposure in the company and said it may discuss a broad range of "operational and strategic matters" with athenahealth's management... Shares of pharmacy chain operators CVS (CVS), Rite Aid (RAD), and Walgreens Boots Alliance (WBA) slid on Wednesday after CNBC reported that Amazon (AMZN) is getting more serious about breaking into the pharmacy market... In M&A news, Patheon (PTHN) agreed to be acquired by Thermo Fisher (TMO) for $35.00 per share in cash in a transaction that represents a purchase price of approximately $7.2B, including the assumption of debt. The New York Post reported that SiriusXM (SIRI) is in active talks about a bid for Pandora (P), though CNBC's David Faber subsequently said the companies are not reaching an agreement on price. INDEXES: The Dow lost about 0.45% to close at 20,804.84, the S&P 500 fell about 0.39% to close at 2,381.73, and the Nasdaq declined about 0.64% to close at 6,083.70.

WMT

Wal-Mart

$78.77

1.23 (1.59%)

CSCO

Cisco

$31.21

-0.17 (-0.54%)

TGT

Target

$55.99

0.16 (0.29%)

TWTR

Twitter

$18.35

-0.16 (-0.86%)

PFPT

Proofpoint

$82.18

1.28 (1.58%)

FEYE

FireEye

$14.94

-0.22 (-1.45%)

FTNT

Fortinet

$40.04

0.37 (0.93%)

CHKP

Check Point

$108.42

-0.27 (-0.25%)

SYMC

Symantec

$29.02

-0.725 (-2.44%)

PTHN

Bought by TMO

$34.61

-0.07 (-0.20%)

TMO

Thermo Fisher

$171.53

-0.21 (-0.12%)

TRVG

trivago

$19.01

-0.57 (-2.91%)

WB

Weibo

$78.31

-0.73 (-0.92%)

SINA

Sina

$102.11

0.6 (0.59%)

ETSY

Etsy

$13.31

0.18 (1.37%)

DKS

Dick's Sporting

$40.80

-0.59 (-1.43%)

QCOM

Qualcomm

$57.67

1.55 (2.76%)

AAPL

Apple

$152.96

0.42 (0.28%)

CVS

CVS Health

$76.32

-0.3 (-0.39%)

RAD

Rite Aid

$3.46

0.03 (0.87%)

WBA

Walgreens Boots Alliance

$80.61

-0.84 (-1.03%)

AMZN

Amazon.com

$959.84

1.35 (0.14%)

AEO

American Eagle

$10.85

-0.03 (-0.28%)

ATHN

athenahealth

$130.39

0.32 (0.25%)

P

Pandora

$9.24

-0.18 (-1.91%)

SIRI

SiriusXM

$4.91

0.05 (1.03%)

LB

L Brands

$48.99

-0.7 (-1.41%)

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WMT Wal-Mart
$78.77

1.23 (1.59%)

05/18/17
BMOC
05/18/17
UPGRADE
BMOC
Market Perform
Wal-Mart upgraded to Market Perform from Underperform at BMO Capital
05/18/17
BARD
05/18/17
NO CHANGE
Target $85
BARD
Outperform
Wal-Mart price target raised to $85 from $80 at Baird
Baird analyst Peter Benedict said Wal-Mart's report of a 1.5% increase in U.S. traffic in Q1 was encouraging and that the company is making good progress in its e-commerce and omni-channel strategy. Adding that the company's in-store execution continues to improve, he believes Wal-Mart's recent momentum can persist and he raised his price target on the stock to $85 from $80. Benedict keeps an Outperform rating on Wal-Mart.
05/19/17
BMOC
05/19/17
UPGRADE
BMOC
Market Perform
Wal-Mart upgraded on outlook improvement at BMO Capital
As noted earlier, BMO Capital upgraded Wal-Mart to Market Perform from Underperform. Analyst Wayne Hood says the outlook of the company's sales and transaction growth has improved in the wake of its Q1 results. However, he adds that the retailer continues to face "many challenges." Target to $80 from $63.
05/19/17
COWN
05/19/17
NO CHANGE
Target $83
COWN
Outperform
Wal-Mart e-commerce business remains in early innings, says Cowen
Cowen analyst Oliver Chen said Wal-Mart continues to execute in a difficult retail environment. He noted e-commerce sales were up 63% during the quarter and he believes they remain in the early innings. Chen believes Wal-Mart will continue to innovate and execute and thus reiterated his Outperform rating and $83 price target on Wal-Mart shares.
CSCO Cisco
$31.21

-0.17 (-0.54%)

05/18/17
JEFF
05/18/17
NO CHANGE
Target $37
JEFF
Buy
Cisco guidance 'not as bad as you think,' says Jefferies
Jefferies analyst George Notter says that while Cisco Systems' revenue guidance for the July quarter "looked poor," the outlook is "not as bad as you think." The company's transition to subscription models is having a bigger top line impact than management is suggesting, Notter tells investors in a post-earnings research note. He believes, however, that Cisco's fundamental business is better than perceived. The analyst continues to like the stock's risk/reward and keeps a Buy rating on the name with a $37 price target.
05/18/17
DBAB
05/18/17
NO CHANGE
Target $40
DBAB
Buy
Cisco price target lowered to $40 from $42 at Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath lowered his price target for Cisco Systems to $40 from $42 following the Q3 results and keeps a Buy rating on the name. The Q4 outlook came in weaker than expected but the Q3 print was "solid," Bhagavath tells investors in a post-earnings research note. He sees Cisco as being "increasingly acquisitive to drive exogenous growth."
05/18/17
SBSH
05/18/17
NO CHANGE
Target $36
SBSH
Buy
Cisco weakness a buying opportunity, says Citi
Citi analyst Jim Suva believes Cisco Systems' "good" Q3 results were overshadowed by its "concerning" outlook for Q4. The analyst lowered his price target for the shares to $36 from $37 and keeps a Buy rating on the name. The analyst notes Cisco's earnings and cash flow could benefit by 16% to 20% under the Trump administration's proposed lower U.S. taxes. Suva recommends buying the shares on the post-earnings pullback.
05/19/17
DBAB
05/19/17
NO CHANGE
DBAB
Buy
Cisco added to short-term buy list at Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath added Cisco Systems to his firm's short-term buy saying the recent selloff in the shares is overdone. The analyst views the June 28 analyst day and upcoming product launches as near-term catalysts.
TGT Target
$55.99

0.16 (0.29%)

03/01/17
WOLF
03/01/17
DOWNGRADE
WOLF
Underperform
Target downgraded to Underperform from Peer Perform at Wolfe Research
03/01/17
BERN
03/01/17
NO CHANGE
BERN
Dollar General unlikely to be affected by Target price cuts, says Bernstein
Bernstein analyst Brandon Fletcher says that Dollar General's (DG) stock fell due to worries about Target's (TGT) price cuts. however, Fletcher does not believe that there is significant overlap between the two companies' customer base or between their geographic markets, so he does not expect Dollar General to be signficantly affected by Targets moves. The analyst keeps a $91 price target and an Outperform rating on Dollar General.
05/09/17
CLVD
05/09/17
NO CHANGE
CLVD
Neutral
Target Q1 comps likely ahead, but outlook remains cautious, says Cleveland
Cleveland Research analyst Scott Bender said Target sales appear to have improved in Q1 against easier comps and sees upside to consensus comp expectations for the quarter. However, the channel outlook remains cautious as there are concerns that EDLP could hurt sales, and the merchandising re-organization could cause disruptions. Bender has a Neutral rating on Target.
05/17/17
BARD
05/17/17
NO CHANGE
Target $55
BARD
Neutral
Target Q1 results a positive step, but visibility still low, says Baird
Baird analyst Peter Benedict said Target's Q1 earnings beat was "a step in the right direction," but he adds that the bar was low and visibility remain limited. Week-to-week results remain volatile and driving positive comps remains the key for a re-rating of the stock, contends Benedict, who keeps a Neutral rating and $55 price target on Target shares.
TWTR Twitter
$18.35

-0.16 (-0.86%)

04/27/17
SBSH
04/27/17
NO CHANGE
Target $12
SBSH
Sell
Citi cuts Twitter target to $12 on 'soft' revenue trends
Citi analyst Mark May says that while Twitter's user metrics improved in Q1, its revenue trends "remain soft." The analyst cut his price target for the shares to $12 from $13 and keeps a Sell rating on the name. It is "unclear how overall engagement is trending and the value of the newly added users," May tells investors in a post-earnings research note. He believes tougher event and user comparisons, as well as heightened competition for digital advertising dollars, could result in continued headwinds for Twitter. The stock closed yesterday up 8%, or $1.16, to $15.82.
05/18/17
AGIS
05/18/17
NO CHANGE
Target $12
AGIS
Sell
Aegis Capital sees sequential weakness in Twitter users
Aegis Capital analyst Victor Anthony said in a pre-open note that the firm's Twitter tracker is "seeing sequential weakness" of 3%-4% in April monthly and daily active users versus March. Those trends are persisting midway through May, with MAU and DAU declining another 2%-3% from April. The analyst notes that Twitter management previously cautioned that its strong Q1 numbers were partly seasonal, and his data now appears to confirm that. Beyond the apparently slumping audience metrics, Anthony argues that visibility into when negative advertising trends might reverse is "low," and he reiterates a Sell rating and $12 target on the shares.
04/27/17
JMPS
04/27/17
NO CHANGE
JMPS
Twitter ad revenue rebound 'will take some time,' says JMP Securities
JMP Securities analyst Ronald Josey says that Twitter's Q2 guidance miss despite the acceleration of its user growth shows that "it will take some time" for the company's ad revenue to increase. The analyst views the stock as "fairly valued," and keeps a Market Perform rating on the shares.
04/27/17
COWN
04/27/17
NO CHANGE
Target $12
COWN
Underperform
Twitter Q1 surprise not enough to change outlook, says Cowen
Cowen analyst John Blackledge noted Twitter reported an upside surprise in Q1, but he said it is not enough to change his outlook on the shares. The analyst noted the company's user growth is decelerating, expectations are for ad revenue to decline, and competition for social media is a concern. Blackledge reiterated his Underperform rating and $12 price target on Twitter shares.
PFPT Proofpoint
$82.18

1.28 (1.58%)

05/15/17
JMPS
05/15/17
NO CHANGE
JMPS
CyberArk, Proofpoint should gain from ransomware attack, says JMP Securities
JMP Securities analyst Erik Suppiger says that CyberArk (CYBR) and ProofPoint (PFPT) are particularly well-positioned in the wake of the recent ransomware attack. The analyst says that those companies' solutions "most acutely address ransomware attacks." He recommends buying both stocks but is more upbeat on CyberArk, as he thinks that the stock's 12% decline in the wake of its earnings creates a buying opportunity.
04/21/17
RBCM
04/21/17
NO CHANGE
RBCM
Proofpoint reported 'impressive' Q1 results, says RBC Capital
RBC Capital analyst Matthew Hedberg says that Proofpoint reported "impressive" Q1 results and guidance. The analyst thinks that the company has many growth drivers going forward, and he keeps a $92 price target and an Outperform rating on the shares.
04/21/17
PIPR
04/21/17
NO CHANGE
Target $90
PIPR
Overweight
Proofpoint remains a top pick for 2017 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski says Proofpoint remains a top pick for 2017 after reporting "yet another solid quarter." He believes the company has multiple growth drivers that are still in the early innings and that consensus estimates remain conservative. The analyst reiterates an Overweight rating on Proofpoint with a $90 price target.
04/20/17
BARD
04/20/17
DOWNGRADE
Target $77
BARD
Neutral
Proofpoint downgraded to Neutral at Baird
As reported previously, Baird analyst Jayson Noland downgraded Proofpoint to Neutral from Outperform citing concerns about sales execution that have accelerated lately. The analyst sees downside risk to earnings, though he said the company is still best-in-class in network security. Noland lowered his price target to $77 from $92 on Proofpoint shares.
FEYE FireEye
$14.94

-0.22 (-1.45%)

05/03/17
STFL
05/03/17
NO CHANGE
STFL
FireEye price target raised to $20 from $17 at Stifel
Stifel analyst Gur Talpaz raised his price target on FireEye after the company reported better than expected Q1 results and provided full-year guidance that beat expectations. He keeps a Buy rating on the shares.
05/03/17
WEDB
05/03/17
NO CHANGE
WEDB
FireEye 2H17 expectations too high, says Wedbush
Wedbush analyst Steve Koenig says that expectations for FireEye's 2H17 results are too high, given its current product revenue trajectory and the "nascent state of" its new products. The analyst , however, believes that the company's new products could significantly boost its revenue and possibly lead to it selling itself. However. he keeps a Neutral rating on the stock.
05/15/17
OPCO
05/15/17
NO CHANGE
OPCO
FireEye poised for increased demand after ransomware attack, says Oppenheimer
Oppenheimer analyst Shaul Eyal notes that according to media reports, a global ransomware attack was launched and infected up to 200,000 computers in at least 150 countries on Friday. The analyst believes the "biggest ransomware outbreak ever" could serve as a wake-up call for many organizations and countries delaying a review of their cybersecurity hygiene. In that regard, Eyal believes all cybersecurity vendors under his coverage, namely Check Point (CHKP), CyberArk (CYBR), Fortinet (FTNT), Imperva (IMPV), Mimecast (MIME), Palo Alto Networks (PANW), Splunk (SPLK), Symantec (SYMC), Verint (VRNT), but most notably FireEye (FEYE), are poised for increased demand, particularly in the EMEA region where the attacks were largely focused.
05/03/17
05/03/17
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. McDonald's (MCD) upgraded to Buy from Neutral at Goldman Sachs with analyst Karen Holthouse citing positive consumer reviews of the "Experience of the Future" roll-out, and believes digital/delivery could be incremental sales drivers for a multi-year comp cycle. 2. FireEye (FEYE) upgraded to Outperform from Market Perform at William Blair with analyst Jonathan Ho citing new product launches and refresh opportunities post the company's first quarter results. 3. Mondelez (MDLZ) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson citing the company's first quarter earnings report and saying the stock should not be trading in-line with the U.S.-based food group average, Dickerson tells investors in a research note. 4. First Solar (FSLR) upgraded to Hold from Sell at Axiom. 5. Oasis Petroleum (OAS) upgraded to Buy from Hold at SunTrust with analyst Neal Dingamann saying rig activity could double to four rigs by mid-year, well results are hitting record levels, differentials/marketing results could soon be the best in company history, and the balance sheet is solid, among other reasons. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FTNT Fortinet
$40.04

0.37 (0.93%)

04/21/17
BMOC
04/21/17
UPGRADE
BMOC
Outperform
Fortinet upgraded to Outperform from Market Perform at BMO Capital
04/21/17
04/21/17
UPGRADE

Outperform
Fortinet upgraded to Outperform on valuation, share gains at BMO Capital
As previously reported, BMO Capital upgraded Fortinet to Outperform from Market Perform and raised its price target to $46 from $44. Analyst Keith Bachman thinks Fortinet's price leadership, expanded sales capabilities, product portfolio, and leadership within SMB are helping to drive share gains. In addition, Bachman said one of the key drivers of his upgrade of Fortinet is valuation.
04/17/17
STFL
04/17/17
NO CHANGE
STFL
'Positive set-up' in Fortinet seen at Stifel
After Stifel conducted checks with IT security resellers, Stifel analyst Gur Talpaz says that firewall trends beat expectations, while "the majority of resellers saw an increase in their Fortinet (FTNT) business." As a result, the analyst thinks that "a positive set-up" in Fortinet stock has been created.
CHKP Check Point
$108.42

-0.27 (-0.25%)

04/24/17
04/24/17
UPGRADE

Buy
Check Point upgraded to Buy on increasing wallet share at Cleveland Research
As previously reported, Cleveland Research upgraded Check Point to Buy from Neutral. The firm's partner checks are trending inline to ahead of internal target for the quarter and is positive on an improving outlook through 2017 given increasing wallet share in cloud firewall and next-gen endpoint, and expectations for additional bundling upside.
04/28/17
04/28/17
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. Western Digital (WDC) upgraded to Overweight on NAND strength at Morgan Stanley with analyst Wamsi Mohan citing better industry trends in both hard disk drives and memory. 2. Check Point (CHKP) upgraded to Equal Weight from Underweight at Barclays with analyst Saket Kalia saying accelerating billings growth in the double digits suggests the company's market position is strengthening. 3. Align Technology (ALGN) upgraded to Outperform from Neutral at Baird with analyst Jeff Johnson citing its many growth levers and many data points suggesting a new level of acceptance for clear aligner therapy. Johnson said the company's revenue acceleration feels like it has staying power, suggesting the stock could trade in historical ranges reserved for preeminent medtech growers. Johnson raised his price target to $155 from $105 on Align Technology shares. 4. Trimble (TRMB) upgraded to Buy from Neutral at Dougherty with analyst Jon Fisher citing the inflection in revenue, earnings beat, and second quarter outlook for growth. 5. United Rentals (URI) upgraded to Buy from Neutral at BofA/Merrill with analyst Ross Gilardi saying pieces are in place for a seasonal rate improvement. 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
LEHM
04/28/17
UPGRADE
Target $112
LEHM
Equal Weight
Check Point upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Saket Kalia upgraded Check Point Software to Equal Weight saying accelerating billings growth in the double digits suggests the company's market position is strengthening. The analyst raised his price target for the shares to $112 from $95 following Check Point's Q1 results.
SYMC Symantec
$29.02

-0.725 (-2.44%)

05/19/17
RBCM
05/19/17
DOWNGRADE
RBCM
Sector Perform
Symantec downgraded on valuation at RBC Capital
As noted earlier, RBC Capital downgraded Symantec to Sector Perform from Outperform. Analyst Matthew Hedberg downgraded the stock based on valuation. Target $32.
05/19/17
RBCM
05/19/17
DOWNGRADE
RBCM
Sector Perform
Symantec downgraded to Sector Perform from Outperform at RBC Capital
05/19/17
05/19/17
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. Macquarie analyst Amy Yong downgraded Pandora (P) to Neutral from Outperform and trimmed her price target to $11 saying potential M&A is to "tough to call" and fundamentals are "choppy." The analyst believes Pandora could sell Ticketfly which would free up financial capacity and help management focus on the core business, but said if neither a sale or M&A materializes, its standalone strategy will be the focus. 2. Wells Fargo analyst Jeff Farmer downgraded Bloomin' Brands (BLMN) to Market Perform saying Street estimates could prove aggressive due to labor costs while share repurchases are decelerating. 3. Deutsche Bank analyst Tiffany Kanaga downgraded The Buckle (BKE) to Sell, citing a lack of near-term support post the Q1 report and continued long-term concerns. 4. HSBC analyst Steve McGarry downgraded Shire (SHPG) to Reduce, saying that while the hereditary angioedema data are positive, investors should avoid the "hemophilia risk." 5. RBC Capital analyst Matthew Hedberg downgraded Symantec (SYMC) to Sector Perform from Outperform, 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.
05/18/17
05/18/17
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. Symantec (SYMC) downgraded to Neutral from Buy at UBS with analyst Fatima Boolani citing a more balanced risk/reward. 2. Jack in the Box (JACK) downgraded to Sector Weight from Overweight at KeyBanc and to Market Perform from Outperform at Telsey Advisory. 3. Grainger (GWW) downgraded to Sell from Hold at Deutsche Bank with analyst John Inch saying the company is "positioned to quickly lose share" as competitors respond with price cuts of their own. 4. Stratasys (SSYS) downgraded to Hold from Buy at Jefferies with analyst James Kisner citing the recent rally in the shares and uncertainty around the timing of new manufacturing opportunities. The analyst raised his price target for the stock to $30 from $24 following the company's first quarter results. 5. Endologix (ELGX) was downgraded to Equal Weight from Overweight at Stephens, to Neutral from Buy at BTIG, and to Hold from Buy at Stifel. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PTHN Bought by TMO
$34.61

-0.07 (-0.20%)

05/16/17
JEFF
05/16/17
DOWNGRADE
Target $35
JEFF
Hold
Patheon downgraded to Hold from Buy at Jefferies
Jefferies analyst David Windley downgraded Patheon (PTHN) to Hold saying he sees little risk to the Thermo Fisher (TMO) takeover deal ultimately closing by year-end 2017. The believes the offer fairly values Patheon. The analyst raised his price target for the shares to $35 from $32.
05/15/17
EVER
05/15/17
DOWNGRADE
EVER
In Line
Patheon downgraded to In Line from Outperform at Evercore ISI
Patheon (PTHN) has agreed to be acquired by Thermo Fisher (TMO) for $35 per share.
05/15/17
WBLR
05/15/17
DOWNGRADE
WBLR
Market Perform
Patheon downgraded to Market Perform from Outperform at William Blair
Patheon (PTHN has agreed to be acquired by Thermo Fisher (TMO) for $35.00 per share in cash.
05/15/17
PIPR
05/15/17
DOWNGRADE
Target $35
PIPR
Neutral
Patheon downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Sean Wieland downgraded Patheon (PTHN) to Neutral from Overweight and raised his price target to $35 from $33 to reflect the company's agreement to be acquired by Thermo Fisher (TMO). In his downgrade note, Wieland added that Catalent (CTLT) is comparable to Patheon and would trade at $36 if the same valuation as used in Thermo Fisher's deal is applied.
TMO Thermo Fisher
$171.53

-0.21 (-0.12%)

05/18/17
CANT
05/18/17
INITIATION
Target $194
CANT
Overweight
Thermo Fisher initiated with an Overweight at Cantor
Cantor Fitzgerald analyst Bryan Brokmeier initiated Thermo Fisher with an Overweight rating, as he sees significant opportunity for organic growth and for M&A. He set a $194 price target on Thermo Fisher, which he calls a "key beneficiary" of continued strength in biopharma.
05/19/17
05/19/17
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. Bernstein initiated Nvidia (NVDA) with an Outperform and a $165 price target. 2. Cantor Fitzgerald initiated Thermo Fisher (TMO) with an Overweight rating and $194 price target. 3. Pacific Crest initiated IBM (IBM) with a Sector Weight rating. 4. Conduent (CNDT) initiated with a Market Perform rating and $18 price target at Cowen. 5. JMP Securities started coverage of Spring Bank Pharmaceuticals (SBPH) with a $20 price target and an Outperform rating. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TRVG trivago
$19.01

-0.57 (-2.91%)

05/16/17
MSCO
05/16/17
NO CHANGE
Target $25
MSCO
Overweight
trivago price target raised to $25 following Q1 beat at Morgan Stanley
Morgan Stanley analyst Brian Nowak said trivago's Q1 best indicates strong business momentum, monetization opportunity and strategic positioning. The analyst expects continued growth in revenue per referral, but at a moderating pace, while improving optimization and monetization. The analyst rates trivago an Overweight.
02/02/17
COWN
02/02/17
NO CHANGE
Target $1800
COWN
Outperform
Cowen sees Priceline as best positioned online travel company
Cowen analyst Kevin Kopelman said he sees Priceline (PCLN) as the best positioned online travel company heading into Q4 results. He sees 2017 as a bumper year for return business as hotel industry data points also look good for the major online travel players. Kopelman reiterated his Outperform rating and raised his price target to $1,800 from $1,700 on Priceline shares and named it his top pick, followed by Expedia (EXPE), trivago (TRVG), and TripAdvisor (TRIP).
02/22/17
COWN
02/22/17
DOWNGRADE
Target $13
COWN
Market Perform
trivago downgraded to Market Perform from Outperform at Cowen
Cowen analyst Kevin Kopelman downgraded trivago (TRVG) to Market Perform and lowered its price target to $13 from $15 to reflect increased competition from key competitor Tripadvisor (TRIP). Tripadvisor announced it is weighting the introduction of a major brad ad spend initiative and the analyst estimates the company will spend $200M by FY18. Further, Priceline (PCLN) is investing in meta-search with its acquisition of Momondo and Alphabet's (GOOGL) travel meta-search products continue to gain traction, all or which create risk to trivago's margin expansion plans.
02/22/17
02/22/17
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. UPS (UPS) downgraded to Neutral from Buy at BofA/Merrill with analyst Ken Hoexter citing a more muted growth outlook combined with higher capex targets. 2. Ralph Lauren (RL) downgraded to Underweight from Neutral at Atlantic Equities. 3. Charter (CHTR) downgraded to Neutral from Buy at MoffettNathanson with analyst Craig Moffett citing valuation. 4. trivago (TRVG) was downgraded to Market Perform from Outperform at Cowen, while TripAdvisor (TRIP) was downgraded to Underperform from Market Perform. 5. First Solar (FSLR) downgraded to Underperform from Neutral at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
WB Weibo
$78.31

-0.73 (-0.92%)

05/17/17
LEHM
05/17/17
NO CHANGE
Target $85
LEHM
Overweight
Weibo price target raised to $85 from $66 at Barclays
Barclays analyst Gregory Zhao raised his price target for Weibo to $85 citing accelerating revenue growth and margin expansion following the company's Q1 results. The analyst believes the "bull case" is playing out and keeps an Overweight rating on the shares.
04/18/17
BNCH
04/18/17
INITIATION
Target $65
BNCH
Buy
Weibo initiated with a Buy at Benchmark
Benchmark analyst Fawne Jiang initiated Weibo with a Buy rating and $65 price target.
05/17/17
HSBC
05/17/17
NO CHANGE
Target $83
HSBC
Buy
Weibo price target raised to $83 from $59 at HSBC
HSBC analyst Chi Tsang raised Buy rated Weibo's price target to $83 from $59 citing the better than expected Q1 report and new features and revenue shares that increase forecasts.
05/17/17
SBSH
05/17/17
NO CHANGE
Target $92
SBSH
Buy
Weibo price target raised to $92 from $70 at Citi
Citi analyst Alicia Yap raised her price target for Weibo shares to $92 following the company's Q1 results. Weibo is benefiting from the ad budget shift to social platforms as well as improving user engagement, Yap tells investors in a post-earnings research note. She keeps a Buy rating on the shares.
SINA Sina
$102.11

0.6 (0.59%)

04/18/17
BNCH
04/18/17
INITIATION
Target $110
BNCH
Buy
SINA initiated with a Buy at Benchmark
Benchmark analyst Fawne Jiang initiated SINA with a Buy rating and $110 price target.
12/12/16
LYON
12/12/16
INITIATION
Target $85
LYON
Outperform
SINA initiated with an Outperform at CLSA
CLSA analyst Man Ho Lam initiated SINA with an Outperform and an $85 price target.
11/22/16
BMUR
11/22/16
NO CHANGE
Target $100
BMUR
Buy
SINA shares remain undervalued, says Brean Capital
Brean Capital analyst Fawne Jiang said SINA (SINA) reported strong Q3 results driven by robust growth from Weibo (WB) on the back of continued user growth and accelerated monetization. Jiang believes SINA shares are undervalued as she expects to see continued growth, improved margins, and cost controls. Jiang reiterated her Buy rating and $100 price target on SINA shares.
11/21/16
THCP
11/21/16
NO CHANGE
Target $81
THCP
Buy
SINA price target raised to $81 from $62 at TH Data Capital
TH Data Capital analyst Tian Hou raised the firm's price target on SINA (SINA) to $81 from $62 in advance of the company's Q3 report, due out after the close tonight. Hou expects SINA's results to be at least in line with consensus, driven by Weibo (WB), and believes Sina's portal business may have bottomed.
ETSY Etsy
$13.31

0.18 (1.37%)

05/17/17
05/17/17
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 Neutral from Outperform at Macquarie with analyst Tim Nollen saying the company's exposure to cable and "outsized" subscriber declines at ESPN "have again become a focal point in investors' minds." 2. Pandora (P) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Heath Terry saying he was wrong in thinking the market would focus on new subscription products and a return to profitability by the fourth quarter. 3. Square (SQ) downgraded to Neutral from Buy at BTIG with analyst Mark Palmer citing valuation following the strong rally and removed his $20 price target. 4. AMD (AMD) downgraded to Hold from Buy at Loop Capital with analyst Betsy Van Hees saying she believes the stock is fairly valued and is already pricing in "a lot," including the launches of RYZEN CPUs, Vega GPUs and the new EPYC server chip. 5. Etsy (ETSY) downgraded to Hold from Buy at Loop Capital with analyst Blake Harper saying with Etsy's new management team undertaking an internal strategic and operational review, an imminent sale of the company 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.
05/17/17
LOOP
05/17/17
DOWNGRADE
Target $13
LOOP
Hold
Etsy downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Blake Harper downgraded Etsy to Hold with an unchanged price target of $13. The shares rallied yesterday 21%, or $2.41, to $13.73 after TPG and Dragoneer disclosed activist stakes. With Etsy's new management team undertaking an internal strategic and operational review, an imminent sale of the company is unlikely, Harper tells investors in a research note. Further, the analyst believes a potential acquisition has been priced in following yesterday's rally. Harper does not see a "meaningful catalyst" for the shares until Etsy reports its Q2 earnings almost three months from now.
05/03/17
MAXM
05/03/17
NO CHANGE
Target $13
MAXM
Buy
Maxim still sees value in Etsy shares
After Etsy reported Q1 sales, EBITDA and EPS that missed consensus and did not offer guidance in light of the management changes it also announced last night, Maxim analyst Tom Forte said he still sees significant potential in the business model and value in the stock. Forte said he was encouraged that the company said trends rebounded in March after February's weakness and he believes the company's issuance of guidance with its Q2 report could give new management an opportunity to reset the bar. He lowered his price target on Etsy to $13 from $17 but maintains a Buy rating on the shares, which are down more than 16% to $9.50 in pre-market trading.
05/17/17
MAXM
05/17/17
NO CHANGE
Target $17
MAXM
Buy
Etsy shares can trade even higher, says Maxim
Maxim analyst Tom Forte noted the 21% pop in Etsy shares after the company said it is reviewing its strategy and would consider all options following the disclosure of two investors' combined 8% stake in the company. He raised his price target on Etsy to $17 from $13 as he sees further upside from either new management leveraging the company's high-potential business model or from the board opting to sell the company. Forte, who keeps a Buy rating on Etsy, estimates based on similar transactions that a sale could result in a share price of at least $16 if the board opts to go that route.
DKS Dick's Sporting
$40.80

-0.59 (-1.43%)

05/17/17
SBSH
05/17/17
NO CHANGE
Target $55
SBSH
Buy
Dick's Sporting post-earnings selloff overdone, says Citi
Citi analyst Kate McShane views yesterday's selloff in shares of Dick's Sporting Goods as overdone. The stock is trading near department store multiples despite being an "industry leader that should benefit from competitor distress," McShane tells investors in a research note. She lowered her price target for Dick's to $55 from $65 and keeps a Buy rating on the name.
05/17/17
ADAM
05/17/17
NO CHANGE
Target $54
ADAM
Buy
Dick's Sporting selloff appears overdone, says Canaccord
Canaccord analyst Camilo Lyon noted Dick's Sporting Goods reported mixed Q1 results, citing lower than expected comps due to unfavorable March weather. As a result, the company lowered its comp guidance, leading to a selloff in the shares. Lyon believes the selloff is overdone and the weakness is a buying opportunity. Lyon reiterated his Buy rating but lowered his price target to $54 from $67 on Dick's Sporting shares.
05/17/17
RBCM
05/17/17
NO CHANGE
RBCM
Dick's Sporting weakness overdone, says RBC Capital
After Dick's reported lower than expected Q1 comp sales, RBC Capital analyst Scot Ciccarelli notes that the company's trends "improved sharply" last month. He adds that the company should benefit from slowed store growth and cheaper wholesale prices. The analyst says that the stock is "too inexpensive to sell at current levels," and notes that the shares' valuation is 20% below that of Best Buy (BBY). He cut his price target on Dick's to $50 from $61 but keeps an Outperform rating on the shares.
05/17/17
STFL
05/17/17
NO CHANGE
STFL
Dick's Sporting weakness overdone, says Stifel
Stifel analyst Scott Devitt says that the decline in Dick's stock following its Q1 comp miss was "too severe." He notes that the company's comp growth accelerated to 5% in April . Devitt is pleased by the company's decision to slow its store growth, saying that the move will boost its margins and free cash flow. The analyst cut his price target on the stock to $54 from $65 but keeps a Buy rating.
QCOM Qualcomm
$57.67

1.55 (2.76%)

05/04/17
FBCO
05/04/17
NO CHANGE
FBCO
Escalation of Qualcomm/Apple dispute will not go very far, says Credit Suisse
Credit Suisse analyst Kulbinder Garcha notes that Qualcomm (QCOM) is reportedly seeking to ban the import of Apple's (AAPL) iPhone into the U.S. through ITC, according to Bloomberg. If it turns out to be true, is the former's response to Apple's recent action of withholding royalty payments to its contract manufacturers, he points out. However, the analyst believes the escalation of the dispute between both companies is unprecedented and will not go very far. Further, Garcha argues that a relationship of co-dependence may remain despite a "messy marriage."
05/01/17
KEYB
05/01/17
NO CHANGE
KEYB
Qualcomm shares no longer pose risk, says KeyBanc
After Qualcomm (QCOM) reported that Apple (AAPL) is withholding its royalty payments, KeyBanc says that Qualcomm no longer carries significant risk. The firm says it recommends buying Qualcomm stock due to increases in the company's profits, its diversification away from mobile in the wake of the NXP deal, and its attractive dividend yield.
05/02/17
WELS
05/02/17
NO CHANGE
WELS
Qualcomm results have negative read through for Apple, says Wells Fargo
Wells Fargo says that Qualcomm's (QCOM) results imply that about 51M of Apple's (AAPL) iPhones were shipped last quarter versus the consensus outlook of 52.2M. The firm says that Qualcomm's results "pose some risk" to Wells' March quarter outlook for revenue $53.4B and EPS of $2.07, although the consensus outlook is $53B and $2.02. Wells expects Apple to report "solid" gross margins for its March quarter, but it sees "some risk" to its June quarter estimates which are also above consensus levels. Wells keeps a Market Perform rating on the shares.
05/03/17
BERN
05/03/17
NO CHANGE
BERN
Apple results mixed, says Bernstein
Bernstein analyst A.M. Sacconaghi, Jr says that Apple's (AAPL) Q2 results were mixed, as iPhone sales were modestly weak, while iPad and Mac revenue beat expectations. The analyst adds that the company's Q3 guidance was slightly below the consensus outlook, although its gross margin guidance "was better than feared." Sacconaghi, Jr says that iPhone sales came in below normal seasonality, as iPhone growth in China "was notably weak." However, the analyst thinks that China sales could increase more than other regions when the iPhone 8 is released. Finally, the analyst says that Apple's gross margin guidance was boosted by its lower accrued payments to Qualcomm, but the analyst warns that Qualcomm could "dramatically undermine iPhone sales" by taking retaliatory steps against Apple. Sacconaghi, Jr keeps a $160 price target and an Outperform rating on Apple.
AAPL Apple
$152.96

0.42 (0.28%)

05/15/17
MSCO
05/15/17
DOWNGRADE
Target $305
MSCO
Equal Weight
Tesla downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Adam Jonas downgraded Tesla (TSLA) to Equal Weight with an unchanged price target of $305. The electric carmaker closed Friday up $1.71 to $324.81. The bull thesis on Tesla centers around the company becoming the next Amazon (AMZN) or Apple (AAPL), Jonas tells investors in a research note. The analyst, however, questions if the risks of taking on the tech giants is sufficiently discounted in the share price. He expects "much larger and more well capitalized" competitors to unveil strategies that directly address sustainable transport and mobility. Regarding the numbers, Jonas now expects Tesla to remain loss-making on a U.S. GAAP basis until late 2019. His also expects the company to burn $3.1B of cash in 2017, greater than his previous estimate of $2.3B. Further, the analyst believes expectations for the Model 3 launch "appear to have recovered substantially" over the last four months.
05/16/17
ADAM
05/16/17
NO CHANGE
Target $180
ADAM
Buy
Apple price target raised to $180 from $165 at Canaccord
Canccord analyst T. Michael Walkley raised his price target on Apple to $180 from $165 in anticipation of strong demand expected for new iPhone products launching in September. The analyst increased his 2018 iPhone estimates as he believes consumers have started to delay iPhone purchases ahead of the anticipated new devices. Walkley reiterated his Buy rating on Apple shares.
05/17/17
UBSW
05/17/17
NO CHANGE
Target $165
UBSW
Buy
Apple shares could reach $200 longer term, says UBS
UBS analyst Steven Milunovich believes Apple's uniqueness might justify a higher multiple as it is a premium brand in tech design rather than retail. The analyst feels the stock has a potential of $200 per share longer-term if the company can grow post iPhone 8. Milunovich reiterated his Buy rating and maintained his $165 price target on Apple shares.
05/17/17
MSCO
05/17/17
NO CHANGE
Target $177
MSCO
Overweight
Apple target raised to $177 at Morgan Stanley after survey shows rising loyalty
Morgan Stanley analyst Katy Huberty reported that the firm's recent survey of 1,000 U.S. consumers shows a rising iPhone retention rate, with 92% of iPhone owners who see upgrading their phone in the next 12 months saying they plan to stick to an iPhone, up from the 86% retention rate in last year's survey. Apple's (AAPL) 92% loyalty rate "dwarfs" that of all other vendors, with its biggest competitor, Samsung (SSNLF), seeing a 77% retention rate, she noted. Huberty, who sees Apple being positioned to gain increasing U.S. smartphone share, raised her price target on Apple to $177 from $161 and keeps an Overweight rating on the stock.
CVS CVS Health
$76.32

-0.3 (-0.39%)

05/05/17
LEER
05/05/17
NO CHANGE
Target $90
LEER
Outperform
CVS Health should retain Aetna, says Leerink
Leerink analyst David Larsen remains positive on CVS Health (CVS) following the company's earnings call. The analyst believes that as investors look to 2018, CVS will have major headwinds behind it, including volume loss from narrow networks and promotion rationalization in retail. Larsen sees a "significant positive catalyst" in a potential Anthem (ANTM) win later this year, and does not believe there is real risk to the Aetna (AET) business. He reiterates an Outperform rating and $90 price target on CVS' shares.
04/28/17
04/28/17
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. CVS Health (CVS) initiated with a Buy at Tigress Financial. 2. Snap (SNAP) initiated with a Hold at Canaccord. 3. Patterson-UTI (PTEN) resumed with an Overweight at Morgan Stanley. 4. Pier 1 Imports (PIR) initiated with a Neutral at Citi. 5. Restoration Hardware (RH) initiated with a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/27/17
TIGR
04/27/17
INITIATION
TIGR
Buy
CVS Health initiated with a Buy at Tigress Financial
Tigress Financial started CVS Health with a Buy rating saying "significant upside" potential exists in the shares. The analyst views the weakness over the last 12 months as a buying opportunity.
05/11/17
CLVD
05/11/17
UPGRADE
CLVD
Buy
Aetna upgraded to Buy from Neutral at Cleveland Research
Cleveland Research analyst Steve Willoughby upgraded Aetna (AET) to Buy saying recent research indicates an expanding relationship with CVS likely beginning on January 1, 2018. The analyst believes an enhanced partnership with CVS will generate significant savings for Aetna and support stronger 2018 MA growth, on top of additional earnings growth of 2-7%.
RAD Rite Aid
$3.46

0.03 (0.87%)

04/12/17
COWN
04/12/17
NO CHANGE
Target $90
COWN
Outperform
Cowen confidence fading on Walgreens/Rite Aid deal
Cowen analyst Charles Ryhee said although his confidence has faded a bit on whether the deal for Walgreens (WBA) to buy Rite Aid (RAD) will close, he still puts the probability at 60%. He feels if the FTC did not think the parties had a case they would have made that clear already. Rhee said his sources tell him there are continued reports the FTC is concerned about the viability of Fred's (FRED) to absorb the acquisition of Rite Aid stores. Ryhee maintained his Outperform rating and lowered his price target to $90 from $95 on Walgreens shares.
04/25/17
GUGG
04/25/17
DOWNGRADE
GUGG
Neutral
Rite Aid downgraded to Neutral from Buy at Guggenheim
03/21/17
DBAB
03/21/17
NO CHANGE
DBAB
Deutsche says Rite Aid could fall 53% if Walgreens deal fails
Deutsche Bank analyst George Hill points out that according to recent media reports, the Federal Trade Commission still has issues with Walgreens Boots Alliance's (WBA) proposed acquisition of Rite Aid (RAD) as well as Fred's (FRED) as a buyer of divested stores. Should the deal fail to close, Walgreens shares have downside to the $73-$79 range, or up to 14%, Hill tells investors in a research note, citing his analysis. Rite Aid shares, the analyst suspects, could fall to $2.25 per share, or 53% from current levels, the analyst contends. He believes a key to Walgreens' decision to certify compliance with the second request could be the current makeup of the FTC, which has three vacant seats along with a Democratic Commissioner and Republican Chairperson. Hill has a Buy rating on Walgreens with a $92 price target, which he notes excludes Rite Aid.
04/11/17
LEER
04/11/17
NO CHANGE
Target $90
LEER
Outperform
Leerink incrementally more cautious on Walgreens, Rite Aid deal
After reviewing the Rite Aid (RAD)/Fred's (FRED) remedy in more detail, Leerink analyst David Larsen says the odds of the Walgreens Boots Alliance (WBA)/Rite Aid deal going through are 50/50. The analyst notes that shares of the latter appear to be trading as if the deal will not go through. Larsen is incrementally more cautious on the deal, but believes that the odds of the transaction going through are "decent." He reiterates an Outperform rating and $90 price target on Walgreens' shares.
WBA Walgreens Boots Alliance
$80.61

-0.84 (-1.03%)

04/18/17
LEER
04/18/17
NO CHANGE
LEER
Market Perform
Cardinal Health struggles may be benefitting AmerisourceBergen, says Leerink
Leerink analyst David Larsen noted that Cardinal Health (CAH) pointed to generic pricing and sell-side pressure and incremental investments as primary reasons for its FY18 and FY19 adjusted EPS forecasts missing expectations, but he believes there may be other challenges the business is facing too. Cardinal's loss of Prime Therapeutics and Walgreens' (WBA) recent wins from CVS Health (CVS) are other factors that may have hurt Cardinal, said Larsen, who added that both of those will benefit AmerisourceBergen (ABC). The analyst, who also said he is incrementally more cautious on McKesson (MCK) and Owens & Minor (OMI) after Cardinal's call, has an Outperform rating on AmerisourceBergen and Market Perform ratings on Cardinal Health, McKesson and O&M.
04/05/17
BOFA
04/05/17
NO CHANGE
BOFA
Walgreens Boots Alliance shares defended at BofA/Merrill
AMZN Amazon.com
$959.84

1.35 (0.14%)

05/08/17
DBAB
05/08/17
NO CHANGE
Target $81
DBAB
Hold
Wal-Mart price target raised to $81 from $71 at Deutsche Bank
Deutsche Bank analyst Paul Trussell raised his price target for Wal-Mart (WMT) to $81 saying his view on the shares is "increasingly positive." Fundamentals are improving and Jet.com has the potential to help position Wal-Mart as a legitimate contender versus Amazon.com (AMZN) in the long-term, Trussell tells investors in a research note. The analyst keeps a Hold rating on the shares.
05/15/17
OPCO
05/15/17
NO CHANGE
Target $1100
OPCO
Outperform
Amazon.com price target raised to $1,100 from $970 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Amazon.com to $1,100 from $970 on valuation. While the analyst still believes Amazon is a "must own" within large-cap given a number of greenfield opportunities, and the leading position in global eCommerce, he also believes Street estimates may be aggressive on margins given the need to invest in domestic grocery infrastructure, domestic home decor/furniture infrastructure, Prime in India, Prime in China, Prime in Mexico, Alexa R&D, global video content, Prime Now, Prime Music and AdTech business. Helfstein reiterates an Outperform rating on the shares.
05/17/17
ROTH
05/17/17
DOWNGRADE
Target $1.3
ROTH
Sell
Plug Power downgraded to Sell from Neutral at Roth Capital
Roth Capital analyst Craig Irwin downgraded Plug Power to Sell from Neutral and cut his price target to $1.30 from $2.25 following the company's "weak" Q1 earnings report. Anchor customer Wal-Mart (WMT) will "dramatically" reduce purchases in 2017 and the company's deal with Amazon (AMZN) is dilutive, not additive, to guidance, said Irwin. Backlog was not disclosed, which raises Irwin's suspicion that the company has received material debookings, he added.
AEO American Eagle
$10.85

-0.03 (-0.28%)

05/12/17
RBCM
05/12/17
NO CHANGE
RBCM
Abercrombie has less than 25% chance of carrying out deal, says RBC Capital
After Abercrombie & Fitch (ANF) confirmed that it had preliminary talks with several parties regarding a potential deal, RBC Capital analyst Brian Tunick says there is less than a 25% chance of a deal occurring. Among the hurdles are the large declines in the stocks of a number of companies that have bought retailers recently, Abercrombie & Fitch's high overseas exposure, and its "still struggling adult brand," according to the analyst. However, Tunick says there is some strategic rationale for a deal between American Eagle (AEO) and Abercrombie & Fitch. Such a transaction would give the combined company "landlord clout and real estate rationalization control; and "promotional and positioning control over three teen/young adult brands," according to the analyst. He thinks the combined company could generate EPS of about $1.50 by fiscal 2019, but warns that the deal would be dilutive to Abercrombie & Fitch in the nearer term and could erode value as other recent deals in the sector have done. The analyst keeps an Underperform rating on Abercrombie & Fitch and an Outperform rating on American Eagle.
05/17/17
DBAB
05/17/17
DOWNGRADE
DBAB
Hold
American Eagle downgraded to Hold from Buy at Deutsche Bank
04/27/17
COWN
04/27/17
NO CHANGE
COWN
Cowen cautious on mall retail, recommends buying high luxury
Cowen analyst Oliver Chen said he remains cautious on mall-based retail stocks as he sees sideways movement with downside risk to earnings and multiples due to constant pricing pressure, consumer preference shift, and uncertainty from mall anchor closures. Chen is specifically cautious on L Brands (LB), Nordstrom's (JWN), and American Eagle (AEO) and recommends buying high-luxury or high-value stocks in the retail space.
05/09/17
WOLF
05/09/17
DOWNGRADE
WOLF
Underperform
American Eagle downgraded to Underperform from Peer Perform at Wolfe Research
ATHN athenahealth
$130.39

0.32 (0.25%)

05/19/17
LEER
05/19/17
NO CHANGE
Target $140
LEER
Market Perform
athenahealth price target raised to $140 from $105 at Leerink
Leerink analyst David Larsen raised his price target for athenahealth to $140 citing the involvement of activist investor Elliott Associates. Elliott has run a "large number of successful campaigns" that have resulted in returns of 26%-plus across a large sample of investments, Larsen tells investors in a research note. He expects the activist to pursue a "wide array of strategic options" in an effort to unlock shareholder value. Larsen keeps a Market Perform rating on athenahealth.
05/19/17
RBCM
05/19/17
NO CHANGE
RBCM
athenahealth price target raised to $150 from $120 at RBC Capital
RBC Capital increased its price target on athenahealth after activist Elliott Associates became involved in the company. The analyst thinks that Elliott's involvement lowers downside risk, and he says that athenahealth could be acquired for $135-$150 per share. However, he thinks that the company's staggered board and its CEO could create "challenges to activism." But he thinks the activist stake should raise the stock's floor, and he keeps a Buy rating on the name.
05/19/17
OPCO
05/19/17
NO CHANGE
Target $154
OPCO
Outperform
athenahealth price target raised to $154 from $119 at Oppenheimer
Oppenheimer analyst Mohan Naidu raised his price target for athenahealth to $154 after hosting investor meetings with management. The analyst hopes the presence of Elliott Management "doesn't drastically change the focus on creating the disruptive next-generation healthcare platform for near-term gain." He notes that management expressed confidence in their new guidance. Naidu keeps an Outperform rating on athenahealth.
05/19/17
JEFF
05/19/17
UPGRADE
Target $135
JEFF
Hold
athenahealth upgraded to Hold from Underperform at Jefferies
Jefferies analyst Sean Dodge upgraded athenahealth to Hold saying the involvement of activist Elliott Associates limits near-term downside and increases the chances of a sale. The analyst remains concerned about the company's fundamentals, however. A sale is a low probability event but can't be ruled out, Dodge tells investors in a research note. He upped his price target for athenahealth to $135 from $95.
P Pandora
$9.24

-0.18 (-1.91%)

05/19/17
MACQ
05/19/17
DOWNGRADE
Target $11
MACQ
Neutral
Pandora downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Amy Yong downgraded Pandora (P) to Neutral from Outperform and trimmed her price target to $11 saying potential M&A is to "tough to call" and fundamentals are "choppy." Yong said Liberty SiriusXM (LSXMA) is expected to remain financially disciplined and opportunistic, and unlikely to pay a substantial premium for Pandora. The analyst believes Pandora could sell Ticketfly which would free up financial capacity and help management focus on the core business, but said if neither a sale or M&A materializes, its standalone strategy will be the focus. As a result, Yong trimmed Pandora ad and subscription estimates to reflect the increasingly competitive environment and said profitability remains a question.
05/18/17
RHCO
05/18/17
NO CHANGE
RHCO
Pandora could be acquired for $12 per share, says SunTrust
After The New York Post reported that merger talks between Pandora (P) and Sirius XM (SIRI) have resumed, SunTrust analyst Matthew Thornton says that Pandora can be acquired for a per share price of "$9+-$12+." He thinks that other suitors besides Sirius could include Tencent (TCEHY), Spotify, and Google (GOOG,GOOGL) However, the analyst adds that Pandora's new features have not impacted the company's fundamentals significantly, while the launch of its new products has been delayed. He cut his price target on the shares to $10.50 from $16 but kept a Buy rating on the stock.
SIRI SiriusXM
$4.91

0.05 (1.03%)

04/19/17
04/19/17
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. Ultragenyx (RARE) was downgraded to Neutral from Buy at H.C. Wainwright and to Neutral from Outperform at Wedbush. 2. Grainger (GWW) downgraded to Underperform on pricing risks at Credit Suisse with analyst Andrew Buscaglia telling investors he sees more uncertainty around its pricing strategy for its highest margin mid-sized customers and continued gross margin declines in 2018 that will weigh on shares. Buscaglia believes Grainger is the most susceptible to the Amazon (AMZN) threat as evidenced by its pricing actions to its more profitable smaller-medium sized customers and said its move online makes it more susceptible to competitive pricing. 3. Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette with analyst Kyle Voigt citing the company's first quarter results. 4. Regions Financial (RF) downgraded to In Line from Outperform at Evercore ISI with analyst John Pancari citing limit upside to valuation given mounting earnings headwinds. 5. Sirius XM (SIRI) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Benjamin Swinburne telling investors the business is maturing and growth is slowing. Swinburne said Sirius is executing well, but the benefit from new car turnover has likely peaked and not longer adds material to the subscription base, and adds used car growth has also peaked. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/17
MSCO
04/19/17
DOWNGRADE
Target $4.8
MSCO
Underweight
Sirius XM downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne downgraded Sirius XM to Underweight from Equal Weight telling investors the business is maturing and growth is slowing. Swinburne said Sirius is executing well, but the benefit from new car turnover has likely peaked and not longer adds material to the subscription base, and adds used car growth has also peaked.
04/11/17
MACQ
04/11/17
NO CHANGE
Target $5.85
MACQ
Outperform
Sirius XM focus should be on CRB, not Pandora, says Macquarie
Macquarie analyst Amy Young said Pandora (P) interest and digital threats remain in he background, but the greater unknown for Sirius (SIRI) is the upcoming CRB hearing this month to determine the royalty rate through 2022. The analyst expects a 100bps bump in 2018, similar to 2012, with a 50bps escalator through 2022, and other costs to remain under control, which should offset R&D/marketing investments for 360L. Young remains bullish on Sirius' the resiliency of Sirius core model and continues to expect net adds, free cash flow, and buybacks to exceed expectations. The analyst has an Outperform rating and $5.85 price target on Sirius XM shares.
LB L Brands
$48.99

-0.7 (-1.41%)

04/26/17
04/26/17
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. Big Lots (BIG) upgraded to Strong Buy from Market Perform at Raymond James with analyst Dan Wewer saying all productivity metrics continue to improve as the company has pruned back underperforming stores and has focused on sales, productivity, EBIT%, ROIC, FCF, dividend growth, and buybacks. Wewer notes Big Lots' short interest has reached 33% and could be a benefit as the company delivers on on earnings and guidance. 2. Dynegy (DYN) upgraded to Hold from Sell at Deutsche Bank with analyst Abe Aza citing a balanced risk/reward with the stock down 30% since February's "disappointing" New England capacity auction results. The analyst raised his price target for the shares to $7 from $6. 3. L Brands (LB) upgraded to Buy on core comp, margin opportunity at Buckingham with the firm saying the worst of trends at Victoria's Secret are past and believes core comps and margin can improve going forward. 4. Wynn Resorts (WYNN) upgraded to Buy from Hold at Union Gaming. 5. BHP Billiton (BHP) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/26/17
BUCK
04/26/17
UPGRADE
BUCK
Buy
L Brands upgraded to Buy on core comp, margin opportunity at Buckingham
Buckingham upgraded L Brands to Buy and raised its price target to $60 from $52 saying the worst of trends at Victoria's Secret are past and believes core comps and margin can improve going forward. The firm's analyst said Jan Singer, new Victoria's Secret CEO, is focused on regaining share and expects the company's core bra business to improve in 2H 2017, re-rating shares higher.
05/04/17
JEFF
05/04/17
NO CHANGE
Target $35
JEFF
Underperform
Jefferies says L Brands Q1 shows Victoria's Secret 'under assault'
Weighing in on L Brands' Q1 earnings report this morning, Jefferies analyst Randal Konik argues that the "only thing that matters" is the mounting proof that its Victoria's Secret monopoly is losing market share "every single day." Core lingerie remains lower and the PINK brand is slowing, indicating accelerating share losses, Konik says, adding that L Brands' enterprise value is "way too high." The analyst reiterates an Underperform rating and $35 price target on the shares.

TODAY'S FREE FLY STORIES

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

18:01
11/17/17
11/17
18:01
11/17/17
18:01
Hot Stocks
S&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices »

S&P Dow Jones Indices…

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

BRCD

Brocade

IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

AVGO

Broadcom

$271.86

-0.25 (-0.09%)

TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

LMOS

Lumos Networks

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

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  • 28

    Nov

  • 06

    Dec

WGL

WGL Holdings

$84.32

-0.14 (-0.17%)

18:01
11/17/17
11/17
18:01
11/17/17
18:01
Earnings
WGL Holdings reports Q4 adjusted EPS (17c), consensus (19c) »

Reports Q4 revenue…

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

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TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

, LMOS

Lumos Networks

17:58
11/17/17
11/17
17:58
11/17/17
17:58
Hot Stocks
Tactile Systems to replace Lumos Networks in S&P 600 at open on 11/22 »

EQT Infrastructure…

TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

LMOS

Lumos Networks

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

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  • 28

    Nov

IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

, MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

17:56
11/17/17
11/17
17:56
11/17/17
17:56
Hot Stocks
Breaking Hot Stocks news story on Invesco Mortgage, MKS Instruments »

Invesco Mortgage to…

IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

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

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

17:55
11/17/17
11/17
17:55
11/17/17
17:55
Hot Stocks
MKS Instruments to replace Brocade in S&P 400 at open on 11/22 »

S&P 500 constituent…

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

BRCD

Brocade

AVGO

Broadcom

$271.86

-0.25 (-0.09%)

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

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  • 06

    Dec

UQM

UQM Technologies

$1.18

0.015 (1.29%)

17:24
11/17/17
11/17
17:24
11/17/17
17:24
Syndicate
Breaking Syndicate news story on UQM Technologies »

UQM Technologies files to…

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

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GS

Goldman Sachs

$238.02

-1.35 (-0.56%)

17:23
11/17/17
11/17
17:23
11/17/17
17:23
Periodicals
Goldman Sachs has $510M lawsuit dismissed, Reuters reports »

A $510M lawsuit that…

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

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VICL

Vical

$1.94

-0.02 (-1.02%)

17:18
11/17/17
11/17
17:18
11/17/17
17:18
Hot Stocks
Breaking Hot Stocks news story on Vical »

Biotechnology Value Fund…

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

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LGND

Ligand

$140.31

-1.4 (-0.99%)

17:18
11/17/17
11/17
17:18
11/17/17
17:18
Hot Stocks
Ligand director sells 5,000 common shares »

In a regulatory filing,…

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

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LGND

Ligand

$140.31

-1.4 (-0.99%)

17:17
11/17/17
11/17
17:17
11/17/17
17:17
Hot Stocks
Ligand CFO sells 6,559 common shares »

In a regulatory filing,…

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

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LGND

Ligand

$140.31

-1.4 (-0.99%)

17:17
11/17/17
11/17
17:17
11/17/17
17:17
Hot Stocks
Ligand CEO sells 5,269 common shares »

In a regulatory filing,…

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

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MBI

MBIA

$9.01

0.13 (1.46%)

17:15
11/17/17
11/17
17:15
11/17/17
17:15
Hot Stocks
Breaking Hot Stocks news story on MBIA »

Fine Capital Partners…

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

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RBCN

Rubicon

$8.07

0.1218 (1.53%)

17:03
11/17/17
11/17
17:03
11/17/17
17:03
Hot Stocks
Breaking Hot Stocks news story on Rubicon »

Bandera Partners reports…

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

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ANCB

Anchor Bancorp

$24.75

-0.1 (-0.40%)

17:02
11/17/17
11/17
17:02
11/17/17
17:02
Hot Stocks
Anchor Bancorp announces stock repurchase program, 10b5-1 trading plan »

Anchor Bancorp announced…

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

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GIFI

Gulf Island Fabrication

$12.30

-0.1 (-0.81%)

16:58
11/17/17
11/17
16:58
11/17/17
16:58
Syndicate
Breaking Syndicate news story on Gulf Island Fabrication »

Gulf Island Fabrication…

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

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MPB

Mid Penn Bancorp

$31.09

0.59 (1.93%)

16:51
11/17/17
11/17
16:51
11/17/17
16:51
Hot Stocks
Mid Penn Bancorp, Scottdale shareholders approve merger »

Mid Penn Bancorp and The…

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

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CALD

Callidus Software

$28.95

0.3 (1.05%)

16:49
11/17/17
11/17
16:49
11/17/17
16:49
Initiation
Callidus Software initiated at First Analysis »

Callidus Software…

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

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GIFI

Gulf Island Fabrication

$12.30

-0.1 (-0.81%)

16:46
11/17/17
11/17
16:46
11/17/17
16:46
Hot Stocks
Breaking Hot Stocks news story on Gulf Island Fabrication »

Piton Capital Partners…

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

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GE

General Electric

$18.21

-0.04 (-0.22%)

16:42
11/17/17
11/17
16:42
11/17/17
16:42
Hot Stocks
General Electric CEO acquires 60,000 common shares »

In a regulatory filing…

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

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NRE

Northstar Realty Europe

$14.20

0.05 (0.35%)

16:33
11/17/17
11/17
16:33
11/17/17
16:33
Syndicate
Breaking Syndicate news story on Northstar Realty Europe »

Northstar Realty Europe…

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

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  • 28

    Nov

  • 29

    Nov

  • 30

    Nov

FHN

First Horizon

$18.40

0.1 (0.55%)

, CBF

Capital Bank

$39.95

0.25 (0.63%)

16:33
11/17/17
11/17
16:33
11/17/17
16:33
Hot Stocks
First Horizon, Capital Bank agree to sell two branches to Apex Bank »

First Horizon (FHN) and…

FHN

First Horizon

$18.40

0.1 (0.55%)

CBF

Capital Bank

$39.95

0.25 (0.63%)

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

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LII

Lennox

$194.25

-0.75 (-0.38%)

16:32
11/17/17
11/17
16:32
11/17/17
16:32
Hot Stocks
Lennox executive sells 2,500 common shares »

In a regulatory filing,…

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

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  • 28

    Nov

TBNK

Territorial Bancorp

$30.99

0.21 (0.68%)

16:31
11/17/17
11/17
16:31
11/17/17
16:31
Hot Stocks
Territorial Bancorp declares special cash dividend of 30c per share »

Payable on December 20.…

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

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TRTN

Triton International

$40.07

-0.77 (-1.89%)

16:30
11/17/17
11/17
16:30
11/17/17
16:30
Hot Stocks
Triton International's Hanau sells 10,000 common shares »

In a regulatory filing,…

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

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16:30
11/17/17
11/17
16:30
11/17/17
16:30
Options
Preliminary option volume of 21.1M today »

Preliminary option volume…

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