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GOOGL

Alphabet Class A

$929.68

-8.14 (-0.87%)

, AMZN

Amazon.com

$968.00

-7.93 (-0.81%)

16:55
06/30/17
06/30
16:55
06/30/17
16:55

S&P, Dow finish week slightly lower as Nasdaq falls sharply

The major averages all declined on a weekly basis, though the loss for the Dow and S&P were fairly mild while the slide in the Nasdaq was more significant. Google (GOOGL) got called out by the EU, Amazon (AMZN) got called out by the President and biotech had a bad week, which all contributed to the Nasdaq's struggles. MACRO NEWS: In the U.S., durable goods orders fell 1.1% overall during May, versus the expected decline of 0.6%. If transportation items are removed from the data, the core reading showed orders were up 0.1%, versus the expected increase of 0.4%. The Chicago Fed national activity index had a reading of -0.26, versus the expected reading of 0.20. The Conference Board's consumer confidence reading rose 1.3 points to 118.9 in June, which was better than the 116.0 reading that was expected. Weekly jobless claims data showed initial claims of 244,000, versus the expected 240,000. First quarter annualized GDP growth was upwardly revised to growth of 1.4%, versus the expectation for the growth estimate to remain at 1.2%. Personal consumption in Q1 is now estimated to have grown 1.1% , versus the prior estimate of an increase of 0.6%. Personal income rose 0.4% in May, while spending increased 0.1%. The Chicago Business Barometer, also known as the Chicago PMI, surged 6.3 points to 65.7 in June, which was much better than expected. The University of Michigan's final consumer sentiment reading for June was revised up to 95.1 from the 94.5 flash reading, though that is still down from 97.1 in May. Baker Hughes reported that the U.S. rig count is down 1 rig from last week to 940, with oil rigs down 2 to 756 and gas rigs up 1 to 184... In U.S. political news, Senate Republicans delayed the vote on their new healthcare bill until after the July 4th recess as they continue to negotiate disagreements regarding the plan to repeal and replace Obamacare... In Asia, China's NBS manufacturing PMI for June came in at 51.7, versus the consensus forecast for a reading of 51, while the NBS non-manufacturing PMI ticked up 0.4 points to 54.9... In Europe, the Eurozone Consumer Price Index rose 1.3% in June, which was firmer than the expected 1.2% increase. COMPANY NEWS: The European Commission fined Alphabet's Google unit EUR 2.42B for breaching EU antitrust rules. The EC claims Google has abused its search engine market dominance by giving an illegal advantage to its comparison shopping service, while Google said it "respectfully" disagrees with the conclusions and will review the Commission's decision as it considers an appeal... President Trump took a shot at two of Jeff Bezos' properties, tweeting that the "#AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!" The tweet followed a report published in the Post that said that a framed copy of a purported Time magazine cover featuring Trump, which was hung up in at least five of the President's golf clubs, is a fake and Time magazine has asked the Trump Organization to remove the phony cover from the walls where it was on display... The Federal Reserve did not object to the capital plans of any bank, marking the first time since the CCAR tests started in 2011 that all of the financial institutions passed. After the Fed gave its thumbs up, the big six banks - JPMorgan (JPM), Bank of America (BAC), Citi (C), Wells Fargo (WFC), Goldman Sachs (GS), and Morgan Stanley - are set to return as much as $97B to shareholders, up about half from a year ago. However, while the Fed didn't object to the capital plan of Capital One (COF), it is requiring the firm to submit a new capital plan within six months that addresses identified weaknesses in its capital planning process... Merck (MRK) confirmed on Tuesday that the company's computer network was compromised as part of global hack that also affected other organizations, including Mondelez (MDLZ) and the U.K.'s WPP (WPPGY). Then, on Wednesday, FedEx (FDX) announced that subsidiary TNT Express' worldwide operations were "significantly affected" due tot the infiltration of an information system virus. FedEx said that the infiltration "could be material," though it noted that it cannot measure the financial impact of the service disruption yet... Shares of Sprint (S) advanced 2% on Tuesday after The Wall Street Journal reported that the company has put its talks about a merger with T-Mobile (TMUS) on hold as it negotiates with Comcast (CMCSA) and Charter Communications (CHTR) on a potential wireless deal. The wireless network operator and cable companies have entered a two-month exclusivity agreement, the Journal added. Following the report, T-Mobile shares slid by over 3% while Verizon (VZ) and AT&T (T) fell about 2% and 1%, respectively... Over last weekend, activist investor Dan Loeb's Third Point took a $3.5B stake in Nestle (NSRGY) and urged the foodmaking giant to improve margins, repurchase shares and dispose of noncore assets, including its 23% stake in L'Oreal (LRLCY). Then, on Tuesday, Nestle announced that its Board of Directors approved a share buyback program of up to CHF 20B, to be completed by the end of June 2020. The company also said it has determined that it will only prioritize external growth opportunities that "fit within targeted categories and geographies, deliver attractive returns, and build on the company's leadership position"... Chicago Bridge & Iron (CBI) surged this week after the Delaware Supreme Court's decision to reverse the previous decision of the Court of Chancery in CB&I's lawsuit against Westinghouse... Avis Budget (CAR) shares jumped on Monday after Alphabet's (GOOG) self-driving car unit, Waymo, announced an agreement for Avis to manage its fleet of self-driving vehicles in Arizona. Additionally, Hertz (HTZ) advanced after Bloomberg reported that Apple (AAPL) was leasing a small fleet of vehicles from the company to test self-driving technology. M&A: Rite Aid (RAD) and Walgreens Boots Alliance (WBA) announced the immediate termination of their merger agreement, citing feedback from the Federal Trade Commission that led the companies to believe they would not have obtained FTC clearance for the deal. Instead, Rite Aid has agreed to sell 2,186 stores, related distribution assets and inventory to Walgreens for an all-cash purchase price of $5.175B, which it said it will use primarily to repay existing indebtedness. Spectranetics (SPNC) jumped 26% on Wednesday after Royal Philips (PHG) announced an agreement to acquire the company for $38.50 per share in cash, which implies an enterprise value of EUR 1.9B, inclusive of Spectranetics' cash and debt. Government Properties Income Trust (GOV) fell nearly 12% on Wednesday following an announcement that it will acquire First Potomac Realty Trust (FPO) in a $1.4B deal. First Potomac also dropped 2.5% immediately following the deal announcement. EARNINGS: Shares of Nike (NKE) raced nearly 11% higher on Friday after the sneaker giant reported better than expected quarterly sales and profits. Deutsche Bank analyst Paul Trussell raised his price target for Nike to $69 saying "we can all breathe a sigh of relief" following last night's Q4 results, and several other Wall Street analysts echoed that sentiment. Among other companies that announced quarterly results this week, Darden (DRI) and Constellation Brands (STZ) advanced immediately following their reports, while Western Digital (WDC), Micron (MU) and Pier 1 Imports (PIR) declined... INDEXES: The Dow lost about 0.2% to close at 21,349.63, the S&P 500 fell about 0.6% to close at 2,423.41, and the Nasdaq declined about 2% to close at 6,140.42.

GOOGL

Alphabet Class A

$929.68

-8.14 (-0.87%)

AMZN

Amazon.com

$968.00

-7.93 (-0.81%)

NKE

Nike

$59.00

5.83 (10.96%)

MRK

Merck

$64.09

-0.25 (-0.39%)

FDX

FedEx

$217.33

2.1 (0.98%)

COF

Capital One

$82.62

1.15 (1.41%)

C

Citi

$66.88

-0.1 (-0.15%)

JPM

JPMorgan

$91.40

0.25 (0.27%)

WFC

Wells Fargo

$55.41

-0.37 (-0.66%)

BAC

Bank of America

$24.26

-0.06 (-0.25%)

MS

Morgan Stanley

$44.56

-0.19 (-0.42%)

GS

Goldman Sachs

$221.90

-2.51 (-1.12%)

NSRGY

Nestle

$87.20

-0.5 (-0.57%)

HTZ

Hertz

$11.50

0.08 (0.70%)

CAR

Avis Budget

$27.27

0.82 (3.10%)

S

Sprint

$8.21

0.06 (0.74%)

TMUS

T-Mobile

$60.62

0.32 (0.53%)

CMCSA

Comcast

$38.92

0.05 (0.13%)

CHTR

Charter

$336.85

1.11 (0.33%)

VZ

Verizon

$44.66

0.25 (0.56%)

T

AT&T

$37.73

0.11 (0.29%)

GOOG

Alphabet

$908.73

-9.06 (-0.99%)

MDLZ

Mondelez

$43.19

0.07 (0.16%)

WPPGY

WPP

$105.41

-0.15 (-0.14%)

CBI

CB&I

$19.73

-1.84 (-8.53%)

DRI

Darden

$90.44

-1.32 (-1.44%)

WDC

Western Digital

$88.60

-3.05 (-3.33%)

MU

Micron

$29.86

-1.61 (-5.12%)

SPNC

Spectranetics

$38.40

0.05 (0.13%)

PHG

Philips

$35.82

0.1 (0.28%)

GOV

Government Properties

FPO

First Potomac

RAD

Rite Aid

$2.95

0.06 (2.08%)

WBA

Walgreens Boots Alliance

$78.31

-0.06 (-0.08%)

FRED

Fred's

$9.23

-0.28 (-2.94%)

STZ

Constellation Brands, also tag STZ.B

$193.73

0.94 (0.49%)

PIR

Pier 1 Imports

$5.19

0.26 (5.27%)

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GOOGL Alphabet Class A
$929.68

-8.14 (-0.87%)

06/28/17
BARD
06/28/17
NO CHANGE
Target $28
BARD
Outperform
Baird 'incrementally positive' on Nutanix after Google partnership
Baird analyst Jayson Noland say he's "incrementally positive" on news that Nutanix (NTNX) and Google (GOOG, GOOGL) have entered into a partnership that will allow Nutanix customers to move application workloads to Google's cloud. The partnership "exemplifies meaningful progress" toward Nutanix's broader Enterprise Cloud opportunity, Noland tells investors in a research note. He has an Outperform rating on the shares with a $28 price target.
06/30/17
JMPS
06/30/17
NO CHANGE
JMPS
Alphabet Q2 outlook has improved, says JMP Securities
After speaking with search engine marketer Merkle, JMP Securities analyst Ronald Josey says that the company's spending on Google has accelerated and was up 23% year-over-year this quarter. The analyst says that the increase "compares favorably" with his estimate of a 19.5% increase for the growth of Google Websites. He believes that Alphabet's newer ad products should enable it to continue to grow and keeps a $1,095 price target and an Outperform rating on the shares.
06/26/17
DBAB
06/26/17
NO CHANGE
DBAB
Buy
Avis announcement of Waymo management pact a positive, says Deutsche Bank
Deutsche Bank analyst Chris Woronka said he views news of the multi-year fleet management contract with Alphabet's (GOOG) Waymo as a positive for Avis Budget (CAR) that came as a surprise to most. He sees the deal as an indication that logistics management and access to on-airport real estate are real assets for the rental car companies, adding that he expects news flow on Avis' involvement in autonomous driving to increase as more of these vehicles hit the road. Woronka keeps a Buy rating on Avis shares.
06/27/17
MKMP
06/27/17
NO CHANGE
MKMP
Autonomous vehicle deals positive for car rental companies, says MKM Partners
After Avis (CAR) announced a multi-year deal with on autonomous vehicles with Alphabet's (GOOG, GOOGL) Waymo and news reports stated that Hertz (HTZ) is working with Apple (AAPL) on autonomous vehicles, MKM Partners analyst Christopher Agnew says the news should ease investors' concerns about car rental companies no longer existing in five to ten years. The analyst believes that car rental companies will become "more relevant" following the launch of autonomous vehicles due to their fleet management skills. He keeps Buy ratings on Hertz and Avis.
AMZN Amazon.com
$968.00

-7.93 (-0.81%)

06/28/17
BARD
06/28/17
NO CHANGE
Target $200
BARD
Costco weakness a buying opportunity, says Baird
Baird analyst Peter Benedict said the recent pullback in Costco (COST) shares is a buying opportunity. He acknowledged the Amazon (AMZN) deal for Whole Foods (WFM) was a significant competitive development, but he believes Costco is well positioned to effectively compete in the evolving marketplace due to its superior quality/value equation, already thin margin profile, and a loyal member base. Benedict reiterated his Outperform rating and $200 price target on Costco shares.
06/30/17
RBCM
06/30/17
NO CHANGE
RBCM
Amazon.com lead over online competitors increasing, says RBC Capital
After RBC Capital conducted a survey of 2000 U.S. online shoppers, RBC Capital analyst Mark S.F. Mahaney says that a record 93% chose Amazon as their favorite online shopping site. Amazon had a 75 point lead on selection and a 68 point lead on convenience. He noted that only 7% have purchased groceries on Amazon but 13% plan to do so. Mahaney keeps a $1,100 price target and an Outperform rating on Amazon.
06/28/17
KEYB
06/28/17
NO CHANGE
KEYB
GrubHub should be bought on weakness, says KeyBanc
KeyBanc recommends buying GrubHub (GRUB) after the stock fell 9% so far this week. The firm blames the decline on fears of competition from Amazon (AMZN). However, it thinks that fears about Amazon "appear overdone," and notes that GrubHub's food delivery business is profitable. It keeps a $50 price target and Overweight rating on GrubHub.
06/28/17
OPCO
06/28/17
DOWNGRADE
OPCO
Perform
Whole Foods downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Rupesh Parikh downgraded Whole Foods (WFM) to Perform from Outperform, stating that while he believes Amazon's (AMZN) buyout price undervalues the company, it now appears less likely a strategic player will make a new bid.
NKE Nike
$59.00

5.83 (10.96%)

06/30/17
BARD
06/30/17
NO CHANGE
Target $65
BARD
Outperform
Nike results and outlook better than feared, says Baird
Baird analyst Jonathan Komp said Nike's Q4 results and guidance were better than feared and noted its key businesses are stabilizing. The analyst was encouraged by management's aggressive pivoting behind innovation, speed, and more direct consumer connections. Komp said investors with a 6-12 month time horizon should be accumulating shares at current levels. Komp reiterated his Outperform rating and raised his price target to $65 from $62 on Nike shares.
06/30/17
ADAM
06/30/17
NO CHANGE
Target $51
ADAM
Hold
Nike Q4 results low quality, guidance underwhelms, says Canaccord
Canaccord analyst Camilo Lyon said Nike's Q4 results were of poor quality despite reporting numbers better than he expected. Lyon maintained his Hold rating and $51 price target on Nike shares, citing continued deterioration of global futures orders, tough North American landscape, and its lowered guidance.
06/30/17
STFL
06/30/17
NO CHANGE
STFL
Nike reported 'solid' Q4 results, says Stifel
Stifel analyst Jim Duffy believes that Nike reported "solid" Q4 results, and the analyst thinks that the company's switch to a more direct consuemr engagement model will boost its results over the longer term. He keeps a Buy rating on the stock.
06/30/17
JEFF
06/30/17
NO CHANGE
Target $75
JEFF
Buy
Nike shares will return to 'marching higher,' says Jefferies
Jefferies analyst Randal Konik believes that with the FY18 guidance out of the way and solid core business fundamentals, shares of Nike "will return back to marching higher." The analyst reiterates a Buy rating on the shares with a $75 price target.
MRK Merck
$64.09

-0.25 (-0.39%)

06/27/17
06/27/17
NO CHANGE

Large cap pharma could benefit from upcoming executive order, says Wells Fargo
Wells Fargo says that, based on press reports, large cap pharma could benefit from President Trump's upcoming executive order on drug pricing. The firm says the articles indicate that the order will not create major reforms or do anything to lower consumers' costs or solve current pricing issues. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
06/27/17
BMOC
06/27/17
NO CHANGE
BMOC
Merck Anacetratib data could be positive despite limitations, says BMO Capital
BMO Capital analyst Alex Arfaei says that data on Merck's Anacetratib drug is "a positive surprise," given the failure of two other CEPT inhibitors. But he says that Merck's press release "strongly suggests" that the drug's CV benefit "may not be very clinically meaningful," while the drug's safety issues may prevent it from being worthwhile, given the relative weakness of its efficacy. However, the analyst says that revenue expectations for the drug were a very low $300M by 2020 ,and he now believes that the franchise could generate global sales of $1.5B-$2B. He keeps an Outperform rating on the stock.
06/06/17
BMOC
06/06/17
NO CHANGE
BMOC
Incyte should be bought on recent weakness, says BMO Capital
BMO Capital analyst M. Ian Somaiya says that data on the combination of Bristol-Myers' (BMY) Opdivo and Incyte's (INCY) epacadostat "confirmed the benefit" seen in a previous study. The analyst says that the safety of Merck's (MRK) Keytruda in combination with epacadostat is better than the standard of care. He keeps a $166 price target and Outperform rating on Incyte.
06/13/17
FBCO
06/13/17
NO CHANGE
FBCO
Outperform
Merck Keytruda trials pause doesn't seem like major concern, says Credit Suisse
After speaking with Merck, Credit Suisse analyst Vamil Divan said the company confirmed that its pause of two trials of Keytruda in multiple myeloma is not a clinical hold. While it is still difficult to draw meaningful conclusions, Divan doesn't believe this is a major concern given Keytruda's clean safety profile to date. The analyst, who adds that he doesn't see any material impact on Merck's near-term prospects in immuno-oncology from this pause, keeps an Outperform rating on the stock.
FDX FedEx
$217.33

2.1 (0.98%)

06/21/17
BARD
06/21/17
NO CHANGE
Target $230
BARD
Outperform
FedEx buyers should be aggressive on pullbacks, says Baird
Baird analyst Benjamin Hartford noted FedEx reported Q4 result that beat expectations. He said the company remains a top idea and would be an aggressive buyer on pullbacks toward the low $200's. He cited its relative valuation, company specific earnings growth, and an improving free cash flow profile supporting its multi-year outperformance. Hartford reiterated his Outperform rating and raised his price target to $230 from $222 on FedEx shares.
06/29/17
BERN
06/29/17
NO CHANGE
BERN
UPS, FedEx to benefit from growth of e-commerce, says Bernstein
Bernstein analyst David Vernon says that UPS (UPS) and FedEx (FDX) will benefit from the growth of e-commerce because the cost of labor for e-commerce deliveries is set to rise significantly. As labor costs increase, the companies' higher productivity will become more valuable, according to Vernon. The analyst keeps a Market Perform rating on FedEx and an Outperoform rating on UPS.
06/21/17
SPHN
06/21/17
NO CHANGE
Target $246
SPHN
Overweight
FedEx price target raised to $246 from $222 at Stephens
Stephens analyst Jack Atkins reiterates an Overweight rating on FedEx and raised his price target on the shares to $246 from $222 following its Q4 report and FY18 guidance, stating that he continues to believe in the company's "meaningful earnings power."
06/21/17
AGIS
06/21/17
NO CHANGE
AGIS
FedEx results 'lackluster,' says Aegis
Aegis analyst Jeffrey Kaufman says that FedEx reported "lackluster" Q4 results and provided "tepid" guidance. The analyst says that the company's "true underlying" Q4 EPS missed expectations "largely because of investment and acquisition costs." He adds that the company's fiscal 2018 EPS guidance range is about 5% below the consensus outlook. However, the analyst expects the company's EPS and cash flow to rebound into 2020, and he keeps a Buy rating on the shares.
COF Capital One
$82.62

1.15 (1.41%)

05/19/17
WELS
05/19/17
NO CHANGE
WELS
Credit card sector lowered to Market Weight from Overweight at Wells Fargo
Wells Fargo cut its rating on the credit card sector to Market Weight from Overweight. The firm noted that the sector's net chargeoffs increased to 3.6% last quarter, representing a four year high. The firm is also worried about slowing receivables growth and increased competition in the space. Despite the downgrade, it continues to recommend Discover (DFS) and Synchrony (SYF). It lowered its price target on Discover to $70 from $80 and cut its price target on Synchrony to $30 from $35. It keeps Market Perform ratings on American Express (AXP) and Capital One (COF).
05/19/17
WELS
05/19/17
NO CHANGE
WELS
Wells downgrades Credit Card sector on credit concerns
Wells Fargo analyst Jason Harbes downgraded his rating on the Credit Card space to Market Weight from Overweight after attending Card Forum 2017 in Austin, Texas. The analyst keeps Overweight ratings on Synchrony (SYF) and Discover (DFS) and Market Perform ratings on American Express (AXP) and Capital One (COF). Credit trends have recently deteriorated primarily due to weaker underwriting, Harbes tells investors in a research note. The analyst is also concerned about slowing receivables growth following an extended period of acceleration from 2012-2016. He lowered his price target for Synchrony to $30 from $35, for Discover to $70 from $80 and for Capital One to $85 from $88. The analyst keeps an $80 target on American Express.
05/01/17
DBAB
05/01/17
DOWNGRADE
Target $71
DBAB
Hold
Discover downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst David Ho downgraded Discover Financial Services (DFS) and cut his price target for the shares to $71 from $87. The analyst sees "less potent" near-term offsets to weakening credit trends. Ho this morning also upgraded Capital One (COF) to Buy and lowered his price target for Hold-rated Synchrony Financial (SYF) to $35 from $47.
06/29/17
DBAB
06/29/17
NO CHANGE
DBAB
Capital One weakness a buying opportunity, says Deutsche Bank
Deutsche Bank analyst David Ho recommends using the weakness in Capital One shares following the Federal Reserve's conditional capital plan approval as a buying opportunity. He does not believe consensus estimates need to change much but admits stock sentiment could remain negative in the near-term. The analyst sees no impact on Cabelas and the efficiency ratio guidance. Ho keeps a Buy rating on Capital One.
C Citi
$66.88

-0.1 (-0.15%)

06/09/17
UBSW
06/09/17
UPGRADE
Target $64
UBSW
Neutral
Citi upgraded to Neutral from Sell at UBS
Citi analyst Saul Martinez upgraded Citi to Neutral and raised his price target for the shares to $64 from $58. The analyst sees an improved risk/reward at current share levels. Global growth "looks resilient," protectionist policies have not emerged, and the path forward for structural reforms in the U.S. "is not as clear," Martinez tells investors in a research note. He views Citi as an attractive capital return story.
06/09/17
06/09/17
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. Zynga (ZNGA) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Brian Nowak saying the company's in-game innovation, starting with Poker, is resulting in higher engagement and monetization. 2. Citi (C) upgraded to Neutral from Sell at UBS with analyst Saul Martinez saying he sees an improved risk/reward at current share levels. Global growth "looks resilient," protectionist policies have not emerged, and the path forward for structural reforms in the U.S. "is not as clear." 3. Comerica (CMA) upgraded to Outperform from Market Perform at FBR Capital. 4. Camping World (CWH) upgraded to Buy from Neutral at Goldman Sachs with analyst David Tamberrino saying he expects growth to continue despite late-cycle concerns. 5. Humana (HUM) upgraded to Buy from Hold at Argus with analyst David Toung saying he is upbeat about its growth outlook following the termination of its merger deal with Aetna (AET). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/13/17
NOMU
04/13/17
NO CHANGE
NOMU
'Many think Wells Fargo EPS came in below expectations, says Nomura Instinet
Nomura Instinet analyst Bill Carcache says that "many investors" believe that Wells Fargo's Q1 EPS came in below expectations, given the 3c per share in reserve releases and the 7c per share profit it realized on "market-sensitive revenues" it reported. The analyst says that the "Results were characterized by softer- than-expected top-line growth, higher expenses, and lower provision." He notes that Wells Fargo, like JPMorgan (JPM) and Citi (C), reported slower loan growth. However, he keeps a Buy rating on Wells Fargo.
06/09/17
RBCM
06/09/17
NO CHANGE
RBCM
House financial reform bill unlikely to advance in Senate, says RBC Capital
RBC Capital analyst Gerard Cassidy says that the financial regulation reform bill passed yesterday by the House would help the banking sector but probably won;t be passed by the Senate. Large publicly traded banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
JPM JPMorgan
$91.40

0.25 (0.27%)

04/25/17
04/25/17
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. Best Buy (BBY) upgraded to Buy from Neutral at BofA/Merrill with analyst Denise Chai citing stronger than expected product cycles in TVs, phones, and time smart home technology, strong online growth, increased focus on high margin services like subscription warranties and in-home services, and new cost savings opportunities. 2. JPMorgan (JPM) and American Express (AXP) were upgraded to Buy from Neutral at Guggenheim while Wells Fargo (WFC) was upgraded to Neutral from Sell. 3. Crane (CR) upgraded to Outperform from Market Perform at William Blair with analyst Nicholas Heymann citing the company's first quarter results. 4. NCI Building (NCS) upgraded to Outperform from Sector Perform at RBC Capital with analyst Robert Wetenhall saying he is more confident in the outlook of the company's end markets and the growth potential of its insulated metal panels business. The analyst believes that worries about the impact of steel price fluctuations on the company's margins are overdone, as he says that hedging can reduce the impact of such fluctuations. 5. Terex (TEX) upgraded to Overweight from Neutral at JPMorgan with analyst Ann Duignan saying the stock looks undervalued based on the company's 2020 targets. Following Terex's Q1 upside and raised 2017 outlook, the analyst upped her price target for the shares to $47 from $30. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/17
FBCO
06/29/17
NO CHANGE
Target $102
FBCO
Outperform
JPMorgan price target raised to $102 after CCAR review at Credit Suisse
Factoring in a share repurchase authorization for the 2017 CCAR cycle that she notes was 15% above her forecast and carrying through a higher rate of capital return into 2018, Credit Suisse analyst Susan Roth Katzke raised her price target on JPMorgan shares to $102 from $99 after the bank received Fed approval for its CCAR plan. The analyst keeps an Outperform rating on JPMorgan.
04/25/17
GUGG
04/25/17
UPGRADE
Target $96
GUGG
Buy
JPMorgan upgraded to Buy on earnings momentum at Guggenheim
As previously reported, Guggenheim upgraded JPMorgan to Buy from Neutral with a $96 price target. Analyst Eric Wasserstrom said fundamental trends have been stronger than forecasts and believes there is upside potential in the core loan forecast of 6% in 2017, indicating sustained earnings momentum even in a period without improving macro conditions.
WFC Wells Fargo
$55.41

-0.37 (-0.66%)

05/12/17
BARD
05/12/17
NO CHANGE
Target $58
BARD
Outperform
Wells Fargo slowly turning the corner, says Baird
Baird analyst David George noted Wells Fargo updated its 2017 guidance at its analyst day and reset expectations. He believes the estimates are conservative and continues to like the longer-term risk/reward for Wells Fargo shares. Coupled with its discounted valuation, the downside should be limited, added George, who reiterated his Outperform rating and $58 price target on Wells Fargo.
05/25/17
BERN
05/25/17
NO CHANGE
BERN
Wells Fargo valuation can increase over time, says Bernstein
Bernstein analyst John McDonald says that Wells Fargo's "underlying business remains attractive," citing its "industry leading deposit base,diverse portfolio of fee businesses, large branch network" that could be optimized, and its $300B at the Fed that could be deployed as interest rates increase. The analyst says that the company is looking to cut $4B in costs and should benefit from higher rates. He thinks that its valuation can "rise over time."
BAC Bank of America
$24.26

-0.06 (-0.25%)

04/24/17
BREN
04/24/17
DOWNGRADE
Target $22
BREN
Hold
Bank of America downgraded to Hold from Buy at Berenberg
Berenberg analyst James Chappell downgraded Bank of America to Hold 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.
04/19/17
RBCM
04/19/17
NO CHANGE
RBCM
Bank of America reported 'knockout' results, says RBC Capital
RBC Capital analyst Gerard Cassidy says that Bank of America reported "knockout" Q1 results that were better than the other three "Big Four" banks. The analyst says that the company has momentum heading into the rest of the year. He keeps a $26 price target and an Outperform rating on the shares.
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.
MS Morgan Stanley
$44.56

-0.19 (-0.42%)

06/28/17
FBCO
06/28/17
NO CHANGE
Target $47
FBCO
Neutral
Morgan Stanley estimates lowered at Credit Suisse
Credit Suisse analyst Susan Roth Katzke lowered her estimates for Morgan Stanley to reflect the current low volume/low volatility trading environment. She maintains a Neutral rating and $47 price target on the stock.
06/26/17
MACQ
06/26/17
NO CHANGE
Target $51
MACQ
Outperform
Macquarie says to buy Morgan Stanley at Macquarie
Morgan Stanley analyst David Konrad recommends buying Morgan Stanley today following DFAST results and recent share underperformance. The analyst believes results came in better than expected and sees additional room for buybacks of up to $5.5B from a previous estimate of $4.9B. Konrad rates shares an Outperform with a $51 price target.
06/02/17
NOMU
06/02/17
NO CHANGE
NOMU
Goldman Sachs, Morgan Stanley Q2 EPS estimates lowered at Nomura Instinet
Nomura Instinet analyst Steven Chubak cut his Q2 EPS estimate for Goldman Sachs (GS) to $3.50 from $4.04 and lowered his Q2 EPS estimate for Morgan Stanley (MS) to 77c from 86c. The consensus EPS estimates for Goldman and Morgan Stanley are $3.92 and 84c, respectively. Chubak says that Goldman has been hurt by "weaker trading and more pronounced (investment banking) declines," while Morgan Stanley is experiencing "softer" investment banking results and "more pronounced quarter-over-quarter" fixed income declines. He keeps a Neutral rating on Goldman and a Buy rating on Morgan stanley.
GS Goldman Sachs
$221.90

-2.51 (-1.12%)

04/20/17
04/20/17
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. Starbucks (SBUX) upgraded to Buy from Hold at Stifel with analyst Mark Astrachan saying he views valuation as attractive and expects multiple expansion from accelerating U.S. comparable store sales growth to at least 5%-6% for the next four quarters starting in the June quarter. The analyst said shares have underperformed consumer and restaurant peers over the past 12 months and expects outperformance to be driven by meeting comp expectations. 2. Goldman Sachs (GS) upgraded to Overweight from Neutral at Atlantic Equities with analyst Christopher Wheeler telling investors investors shares are "oversold." The analyst expects the FICC business to bounce back and made just a small reduction in estimates to account for further cost measures. 3. Lear (LEA) upgraded to Outperform from Neutral at Baird with analyst David Leiker citing its recent underperformance despite improving fundamentals and a strong global auto backdrop. Leiker raised his price target to $161 from $160 on Lear shares. 4. Discovery (DISCA) upgraded to Neutral from Sell at Citi with analyst Jason Bazinet saying he sees little chance of material downward revisions to consensus earnings estimates. The analyst views the risk/reward as more balanced at current levels and upped his price target for the shares to $30 from $27. 5. Gap (GPS) upgraded to Neutral from Underweight at JPMorgan with analyst Matthew Boss citing the underperformance of the shares over the past 18 months and his fieldwork which suggests stability at Old Navy. The analyst raised his price target for the shares to $24 from $21. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/28/17
FBCO
06/28/17
NO CHANGE
Target $240
FBCO
Outperform
Goldman Sachs price target raised to $240 from $230 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke lowered her 2017 estimates for Goldman Sachs to reflect the current low volume/low volatility trading environment. However, assuming capital markets growth follows macroeconomic growth and the company realizes incremental operating leverage, she increased her 2018 and 2019 estimates for Goldman. Katzke increased her price target on Goldman shares to $240 from $230 and keeps an Outperform rating on the stock.
NSRGY Nestle
$87.20

-0.5 (-0.57%)

06/16/17
BERN
06/16/17
NO CHANGE
BERN
Nestle sale of U.S. confectionery business would be short-sighted,says Bernstein
After Nestle (NSRGY) said it would evaluate strategic options for its confectionery business, including a possible sale of the unit, Bernstein analyst Andrew Wood says he thinks that the review was undertaken with a view to boosting the company's shorter term financial results,. He says that a sale of the business would be "short-sighted," as it would undermine the company's status as a global confectionery leader, could hinder its ability to manage confectionery assets and will eliminate its ability to benefit from "premiumisation" in the U.s. confectionery market. The analyst keeps a Market Perform rating on Nestle.
06/19/17
FBCO
06/19/17
NO CHANGE
FBCO
Hershey buy of Nestle assets could be type of 'poison pill,' says Credit Suisse
Credit Suisse analyst Robert Moskow analyzed several scenarios after Nestle's (NSRGY) recent announcement of a strategic review of its U.S. confectionery business. Buying Nestle candy would double Mondelez's (MDLZ) U.S. market share to 10%, but Moskow wonders if such a deal could compromise Mondelez' ability to eventually buy Hershey (HSY) at a later date. As for the latter, Hershey would generate "massive" synergies of 9% of sales and the deal could work as a type of "poison pill" to deter a bid from Mondelez or Kraft Heinz (KHC), said Moskow. However, he doesn't think Hershey would want to buy an asset that would dilute its topline growth rate at this point. He added that he sees "little to no chance" of Lindt, the number three in U.S. candy, being interested in Nestle's assets.
06/26/17
JEFF
06/26/17
NO CHANGE
JEFF
Hold
Jefferies advises caution on Nestle amid Third Point rally
Jefferies analyst Martin Deboo recommends caution on Nestle with the shares up 4% on news of Third Point's activist stake. Third Point's targets will be "non-trivial to achieve" and its influence over the company is "relatively dilute," Deboo tells investors in a research note. He believes the valuation is "already anticipating a healthy degree of change." The analyst keeps a Hold rating on Nestle.
06/26/17
JPMS
06/26/17
NO CHANGE
JPMS
JPMorgan sees Kraft, Conagra, Dean rallying on Nestle speculation
JPMorgan analyst Ken Goldman expects Third Point's desire for Nestle (NSRGY) to divest assets to have an impact on shares of U.S. food producers. The analyst expects shares of Kraft Heinz (KHC), Conagra Brands (CAG) and Dean Foods (DF) to rally today on hopes of a potential accretive deal for some of Nestle's assets. The analyst thinks General Mills (GIS) shares may drop slightly on speculation that Nestle sells Cereal Partners Worldwide, which he believes would hinder the company's ability to grow cereal internationally. General Mills has a global partnership with Nestle via Cereal Partners Worldwide. Goldman also thinks Pinnacle Foods (PF) could trade down slightly with Conagra having "another potential dance partner" to do a deal.
HTZ Hertz
$11.50

0.08 (0.70%)

06/14/17
DBAB
06/14/17
NO CHANGE
Target $45
DBAB
Buy
Avis Budget negative sentiment could be easing, says Deutsche Bank
Deutsche Bank analyst Chris Woronka attributes yesterday's rally in Avis Budget (CAR) shares to J.D. Power announcing a 270 basis point positive revision, from down 10.3% to down 7.6%, to the NADA used vehicle price index for June that it initially released late Monday. The rally implies that the "overwhelmingly" negative sentiment on Avis "could be showing signs of easing," Woronka tells investors in a research note. The analyst continues to view the Manheim used vehicle value index as the single most relevant data point for the shares. He believes July is a critical month for rental price and keeps a Buy rating on Avis with a $45 price target. Hertz (HTZ) yesterday followed shares of Avis higher.
06/05/17
MKMP
06/05/17
NO CHANGE
Target $22
MKMP
Buy
Hertz price target lowered to $22 from $29 at MKM Partners
MKM Partners analyst Christopher Agnew said 2017 is a transition year for Hertz and expects headwinds to continue in Q2, but believes these are known and expects Q3 pricing trend visibility to become clearer by the time it reports Q2. The analyst lowered Hertz's price target to $22 from $29 but maintains his Buy rating.
03/22/17
MSCN
03/22/17
NO CHANGE
MSCN
MScience expects lower pricing and volumes for Hertz
MScience analyst Michael Erstad analysis indicates Hertz's (HTZ) Q1 revenues are trending at $1.935B versus consensus of $1.975B. The analyst said Enterprise captured greater share at the expense of Hertz and Avis Budget (CAR) in January but Enterprise and Hertz took share from Avis in February.
CAR Avis Budget
$27.27

0.82 (3.10%)

05/05/17
FBCO
05/05/17
NO CHANGE
Target $27
FBCO
Neutral
Avis Budget price target lowered to $27 from $38 at Credit Suisse
Credit Suisse analyst Credit Suisse lowered his price target for Avis Budget to $27 from $38 as the company's Q1 results came in worse than expectations that had been trending lower intra-quarter. The analyst reiterates a Neutral rating on the shares.
S Sprint
$8.21

0.06 (0.74%)

06/27/17
JEFF
06/27/17
NO CHANGE
JEFF
Jefferies sees Sprint takeover by Comcast, Charter as less likely
Jefferies analyst Mike McCormack says this morning's Wall Street Journal report exclusive talks between Sprint (S) and Comcast (CMCSA)/Charter (CHTR) is not surprising. He believes the cable operators are looking for better MVNO terms and that an outright acquisition or equity stake is less likely. The report provides an indication of just how far apart Sprint and T-Mobile (TMUS) may be in any discussions, McCormack tells investors in a research note. The exclusive talks may also push T-Mobile closer to DISH (DISH), the analyst adds.
05/30/17
BTIG
05/30/17
NO CHANGE
BTIG
Verizon shares could rise to $51 but outlook still mixed, says BTIG
BTIg analyst Walter Piecyk believes that Verizon's (VZ) stock can rise to $51. He notes that the company's wireless "margins and churn are still near record levels," while Sprint's (S) CEO expects prices for unlimited data plans to rise. Additionally, the analyst believes that the chances of Verizon making "a large dilutive acquisition" have decreased, while Verizon would benefit from a merger of Sprint and T-Mobile (TMUS). However, the analyst lowered his estimates for Verizon ,and he thinks that the company's dividend could be at risk over the longer term. Moreover, he warns that the stock could come under pressure if the T-Mobile/Sprint merger falls through, while a new , "well-funded" competitor could enter the wireless space. He keeps a Neutral rating on Verizon.
05/30/17
MOFT
05/30/17
NO CHANGE
MOFT
U.S. telecom sector upgraded to Neutral from Sell at MoffettNathanson
MoffettNathanson analyst Craig Moffett upgraded the U.S. telecom sector to Neutral from Sell. As reasons for the upgrade, the analyst cited valuation, lack of near-term negative catalysts, interest rate easing, and a potential merger between Sprint (S) and T-Mobile (TMUS). Other stocks in the sector include Verizon (VZ) and AT&T (T). The firm today upgraded AT&T to Neutral from Sell.
05/15/17
COWN
05/15/17
NO CHANGE
Target $70
COWN
Outperform
Sprint, T-Mobile merger not a sure thing, says Cowen
Cowen analyst Colby Synesael tells investors the near-term risk in both Sprint (S) and T-Mobile (TMUS) has increased based on the possibility of a deal not happening, the unclear nature of what the deal structure would look like, and the fact that Sprint does not need a deal like it once did. The analyst does not feel a deal between the two is a sure thing. He believes T-Mobile's fundamentals should continue to create shareholder value, while the embedded M&A premium in Sprint shares has created meaningful risk. Synesael rates Sprint Market Perform with a $6.50 target. T-Mobile is rated Outperform with a $70 price target.
TMUS T-Mobile
$60.62

0.32 (0.53%)

06/08/17
DRXL
06/08/17
INITIATION
Target $80
DRXL
Buy
T-Mobile initiated with a Buy at Drexel Hamilton
Drexel Hamilton initiated T-Mobile with a Buy and an $80 price target saying the company is "shaking up" the industry with its innovative "uncarrier" offerings and expects upside to EBITDA margins as the company adds more subscribers and network coverage.
06/08/17
06/08/17
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. T-Mobile (TMUS) initiated with a Buy at Drexel Hamilton. 2. Mesoblast (MESO) initiated with an Overweight at Cantor. 3. Sherwin-Williams (SHW) reinstated with a Conviction Buy at Goldman Sachs. 4. MuleSoft (MULE) initiated with a Perform at Oppenheimer. 5. Knowles (KN) initiated with a Buy at Dougherty. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
CMCSA Comcast
$38.92

0.05 (0.13%)

06/20/17
06/20/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philips (PHG) downgraded to Hold from Buy at Deutsche Bank with analyst Gael de-Bray citing valuation with the stock up 52% over the past year. 2. Comcast (CMCSA) downgraded to Neutral from Buy at MoffettNathanson with analyst Craig Moffett saying stocks have had a multi-year bull run and air fairly valued. 3. ADP (ADP) was downgraded to Neutral from Conviction Buy and Paychex (PAYX) was downgraded to Neutral from Buy at Goldman Sachs. 4. Boyd Gaming (BYD) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Thomas Allen saying risk/reward is more balanced following the recent strength in shares. 5. Cheesecake Factory (CAKE) downgraded to Hold from Buy at Argus with analyst John Staszak citing the company's reduction in its second quarter same-store sales guidance from an increase of 0.5%-1.5% to a decline of 1%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/20/17
MOFT
06/20/17
DOWNGRADE
MOFT
Neutral
Comcast downgraded to Neutral from Buy at MoffettNathanson
MoffettNathanson analyst Craig Moffett downgraded Comcast to Neutral and cut the Cable sector to Neutral saying stocks have had a multi-year bull run and air fairly valued.
05/30/17
COWN
05/30/17
NO CHANGE
Target $30
COWN
Outperform
TiVo shares significantly undervalued, says Cowen
Cowen analyst Robert Stone believes TiVo (TIVO) shares are poised for significant upside; as much as roughly 80%. He noted the initial U.S. ITC determination found a violation by Comcast (CMCSA) of two TiVo patents and expects that Hulu infringes on even more TiVo IP. Stone reiterated his Outperform rating and $30 price target on TiVo shares.
CHTR Charter
$336.85

1.11 (0.33%)

06/01/17
OPCO
06/01/17
INITIATION
OPCO
Perform
Charter initiated with a Perform at Oppenheimer
Oppenheimer analyst Timothy Horan initiated Charter with a Perform rating saying free cash flow growth is reflected in valuation.
06/08/17
MOFT
06/08/17
NO CHANGE
MOFT
Charter spectrum values likely falling, says MoffettNathanson
MoffettNathanson said spectrum values are likely falling rather than rising, and investors are likely overestimating what buyers are willing to pay, a negative for current spectrum owners. The firm's analyst said Charter is likely a long-term acquirer, but near-term acquisitions are unlikely given the integrations of Time Warner Cable and Bright House.
05/10/17
DBAB
05/10/17
DOWNGRADE
Target $32
DBAB
Sell
Viacom downgraded to Sell from Hold at Deutsche Bank
Deutsche Bank analyst Bryan Kraft downgraded Viacom (VIAB) to Sell after learning Charter (CHTR) re-tiered the company's most popular networks to its TV Gold package, its most expensive video tier, and into its Digi Tier. The analyst expects this to dive more revenue pressure at Viacom and cut his price target for the shares to $32 from $35.
VZ Verizon
$44.66

0.25 (0.56%)

06/12/17
JEFF
06/12/17
NO CHANGE
Target $34
JEFF
Buy
Finisar line card still not qualified at Verizon, says Jefferies
Jefferies analyst James Kisner says he's a buyer of Finisar (FNSR) ahead of the company's Q4 results after his channel checks suggested "very strong demand" for Datacom optics. His checks, however, also indicated that Finisar still isn't qualified at Verizon (VZ) for its ROADM line card. The analyst lowered his July quarter earnings per share estimate to 52c, below the consensus of 59c, to reflect "clear public datapoints" suggesting no recovery of China near-term and no benefits in the quarter from ROADM at Verizon. Nonetheless, Kisner believes Finisar's guidance could be better than feared and he sees low expectations into the print. The analyst keeps a Buy rating on Finisar with a $34 price target.
06/01/17
DRXL
06/01/17
NO CHANGE
DRXL
AT&T likely to lose share, says Drexel Hamilton
Drexel Hamilton analyst Barry Sine expects AT&T (T) to lose share, as he says that the company now has the most expensive unlimited plan among the four major carriers. He keeps a Hold rating on AT&T and prefers Verizon (VZ) over AT&T. He says that Verizon "offers a better growth profile and fewer risks."
06/22/17
JPMS
06/22/17
NO CHANGE
JPMS
Neutral
Synchronoss comments on carriers should help ease concerns, says JPMorgan
JPMorgan analyst Sterling Auty said that comments made by Synchronoss (SNCR) in a presentation to its lenders regarding AT&T (T) and Verizon (VZ) continuing to be cloud customers should help ease some of the concern investors have had around the company's cloud business. Auty keeps a Neutral rating on Synchronoss shares.
T AT&T
$37.73

0.11 (0.29%)

06/22/17
JEFF
06/22/17
NO CHANGE
Target $60
JEFF
Buy
Oracle price target raised to $60 from $52 at Jefferies
Jefferies analyst John DiFucci raised his price target on Oracle (ORCL) to $60 from $52 following the company's Q4 report, noting that the company reported its strongest new business in almost five years. DiFucci adds that he believes investors should view the company's deal with AT&T (T) as a "seminal transaction" that validates Oracle's Cloud push. He keeps a Buy rating on Oracle shares.
06/26/17
CHLM
06/26/17
NO CHANGE
Target $5
CHLM
Buy
AT&T portal ramping earlier than expected for Synacor, says Craig-Hallum
Craig-Hallum analyst George Sutton said Synacor's (SYNC) launch of the AT&T.net (T) portal has ramped up a bit earlier than he'd anticipated and noted that its website metrics suggest it is being well received by users. Sutton, who thinks success from this initiative should lead to a significant acceleration in the third quarter, keeps a Buy rating and $5 price target on Synacor shares.
GOOG Alphabet
$908.73

-9.06 (-0.99%)

06/15/17
06/15/17
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. Alphabet (GOOG, GOOGL) downgraded to Hold from Buy at Canaccord with analyst Michael Graham citing valuation. Graham maintained his $1,000 price target on Alphabet shares. 2. Mattel (MAT) downgraded to Neutral from Buy at DA Davidson with analyst Linda Bolton saying near-term business fundamentals have deteriorated after the company cut its dividend by 61%. 3. Brinker (EAT) downgraded to Neutral from Overweight at JPMorgan with analyst John Ivankoe saying he expects higher spending and weak industry trends to offset any possible sales improvement. 4. Terex (TEX) downgraded to Neutral from Buy at Goldman Sachs with analyst Jerry Revinch citing valuation. 5. Splunk (SPLK) downgraded to Neutral from Outperform at Wedbush analyst Steve Koenig citing the emergence of "meaningful competition," the "complexity" of its transition to the cloud, and "somewhat messy fundamentals." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MDLZ Mondelez
$43.19

0.07 (0.16%)

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.
05/24/17
PIPR
05/24/17
INITIATION
PIPR
Neutral
Mondelez initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery initiated Mondelez with a Neutral rating and $48 price target, saying he sees a potential 5% upside for Mondelez shares.
05/03/17
DBAB
05/03/17
UPGRADE
Target $51
DBAB
Buy
Mondelez upgraded to Buy on less 2017 risk at Deutsche Bank
Deutsche Bank analyst Rob Dickerson upgraded Mondelez to Buy from Hold and raised his price target for the shares to $51 from $49 following the company's Q1 earnings report. The stock should not be trading in-line with the U.S.-based food group average, Dickerson tells investors in a research note. After organic sales accelerated in the quarter, the risk to 2017 has been decreased, the analyst argues. He now believes 10% base business earnings growth in 2018 and 2019 is highly likely.
WPPGY WPP
$105.41

-0.15 (-0.14%)

10/31/16
PIVT
10/31/16
UPGRADE
PIVT
Buy
WPP PLC upgraded to Buy from Hold at Pivotal Research
12/08/16
JEFF
12/08/16
UPGRADE
JEFF
Buy
WPP PLC upgraded to Buy from Hold at Jefferies
Jefferies analyst Tamsin Garrity upgraded WPP PLC to Buy saying the valuation is attractive following the recent pullback. The analyst has a 1,840p price target for the shares.
11/22/16
FBCO
11/22/16
INITIATION
FBCO
Outperform
WPP PLC initiated with an Outperform at Credit Suisse
01/12/17
PIVT
01/12/17
DOWNGRADE
PIVT
Hold
WPP PLC downgraded to Hold from Buy at Pivotal Research
Pivotal Research analyst Brian Wieser downgraded WPP PLC and other names in the Internet/Advertising space citing a riskier political environment post the U.S. election. Valuations do not appropriately reflect that the environment for stocks and companies is riskier now than was the case several months ago, Wieser tells investors in a research note. He believes "significant factions" within the government support "mercantilism and populism," creating uncertainty as to what policies will take effect.
CBI CB&I
$19.73

-1.84 (-8.53%)

06/28/17
WELS
06/28/17
UPGRADE
WELS
Outperform
CB&I upgraded to Outperform from Market Perform at Wells Fargo
06/28/17
BARD
06/28/17
NO CHANGE
Target $25
BARD
Neutral
CB&I becoming more investible but risks remain, says Baird
Baird analyst Andrew Wittmann said the favorable Delaware Supreme Court ruling received by CB&I gives it a significant positive compared to the worst case scenario. The analyst said the stock is becoming more investible but balance sheet and operational risks remain. Wittmann raised his price target to $25 from $15 on CB&I shares but reiterated his Neutral rating.
06/28/17
MACQ
06/28/17
NO CHANGE
Target $14
MACQ
Underperform
CB&I price target raised to $14 from $10 at Macquarie
Macquarie analyst Sameer Rathod raised CB&I's price target to $14 following the positive court decision from the Delaware Supreme Court. The analyst removed removed $3.60 per share of nuclear liability from his price target but said the company is not completely out of the woods yet as it continues to dramatically staff up existing jobs to offset delays due to poor labor productivity, delays in pipe deliveries and prefabrication. Rathod remains concerned about CB&I's maximum draw down of debt intra quarter and reiterates an Underperform rating.
06/28/17
UBSW
06/28/17
NO CHANGE
Target $21
UBSW
Neutral
CB&I could rebound further as shorts cover, says UBS
UBS analyst Steven Fisher noted Chicago Bridge & Iron received a positive court decision from the Delaware Supreme Court, which he said reduces the legal overhang for the company. The analyst said Westinghouse could still sue CB&I for damages but it would be a separate legal process that has no guarantee of success. Fisher believes CB&I shares could see a further rebound as shorts elect to cover. Fisher maintained his Neutral rating and $21 price target on CB&I shares, which jumped 39% yesterday to close at $20.02.
DRI Darden
$90.44

-1.32 (-1.44%)

03/29/17
03/29/17
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. Dunkin' Brands (DNKN) downgraded to Sell from Neutral at Goldman with analyst Karen Holthouse saying with the stock trading at the high end of its valuation range, comp and unit growth risks in the U.S. present downside risk. 2. Darden (DRI) downgraded to Neutral from Buy at BTIG with analyst Peter Saleh saying he does not expect the acquisition to start meaningfully contributing to sales and restaurant profit growth until fiscal 2019/2020 and sees limited upside at current levels. 3. Cempra (CEMP) downgraded to Sell from Hold at Gabelli with analyst Kevin Kedra saying the company is exploring strategic options but expects valuation to diminish along with the company's balance sheet over time and sees little reason to own shares without a catalyst. 4. PPL Corp. (PPL) downgraded to Neutral from Buy at UBS. 5. Panera Bread (PNRA) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying he now sees the stock reflecting the positives of continued momentum from "Panera 2.0," opportunities for margin expansion, unit development, and share buybacks following its 25% year-to-date advance. He keeps a $260 price target on Panera shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/12/17
PIPR
05/12/17
NO CHANGE
Target $94
PIPR
Overweight
Darden price target raised to $94 from $83 at Piper Jaffray
Piper Jaffray analyst Nicole Miller Regan raised her price target for Darden Restaurants to $94 after meeting with management. Darden is taking market share "as a function of operational excellence," Regan tells investors in a research note. She encourages investors to own the shares and reiterates an Overweight rating on the name.
06/12/17
ADAM
06/12/17
NO CHANGE
Target $102
ADAM
Buy
Darden market share gains expected to continue, says Canaccord
Canaccord analyst Lynne Collier previewed Darden's Q4 results and said she expects the company to show higher same store sales and for its market share gains to continue. She believes the company's investments in the guest experience, a strong value proposition, off-premise, menu innovation and remodels will allow it to continue its gains. Collier reiterated her Buy rating and raised her price target to $102 from $90 on Darden shares.
06/26/17
OPCO
06/26/17
NO CHANGE
Target $100
OPCO
Outperform
Darden price target raised to $100 from $85 at Oppenheimer
Oppenheimer analyst Brian Bittner raised his price target for Darden Restaurants to $100 and reiterates an Outperform rating on the name. Consensus expectations for 10% annual earnings growth through 2019 appears conservative and underappreciates the Cheddar's acquisition, Bittner tells investors in a research note, citing is analysis. He views the current valuation as "not too expensive."
WDC Western Digital
$88.60

-3.05 (-3.33%)

06/27/17
AGIS
06/27/17
NO CHANGE
Target $130
AGIS
Buy
SSD ASP rises may have been 'meaningful' to Western Digital beat, says Aegis
After Western Digital positively pre-announced better than expected June quarter preliminary EPS, Aegis analyst Ananda Baruah said he believes ongoing increases in SSD average selling prices may have been a meaningful contributor to the beat. Western Digital's annual EPS run-rate over the last three quarters is now about $10.50 ahead of the vast majority of the expected $2.00-$3.00 minimum of SanDisk synergies and ahead of any contribution from Toshiba's memory business sale, which Baruah thinks could be an incremental $2.00-$5.00 regardless of sale outcome, he tells investors. The analyst keeps a Buy rating and $130 price target on Western Digital shares.
06/27/17
BTIG
06/27/17
NO CHANGE
BTIG
Western Digital fundamentals still 'quite strong,' says BTIG
BTIG analyst Edward Parker says that Western Digital's (WDC) "strong preliminary results" indicate that its "fundamentals remain quite strong." The analyst says he doesn't believe that Toshiba (TOSBF, TOSYY) can sell its share in the chip joint venture while Western Digital is seeking injunctive relief. He adds that the intensity of the battle over the joint venture shows that there is widespread optimism about the memory sector. He keeps a $120 price target and a Buy rating on Western Digital.
06/27/17
JEFF
06/27/17
NO CHANGE
Target $90
JEFF
Hold
Western Digital guidance supports NAND concerns, says Jefferies
Jefferies analyst James Kisner says Western Digital's "modest" Q4 guidance raise and reiteration of annual earnings guidance supports his concern around near-term NAND "peakiness." The analyst keeps a Hold rating on the shares with a $90 price target. He believes Western Digital's right of consent suggests it is likely to participate in some capacity in the purchase of Toshiba Memory. He thinks such a deal would only be a modest positive, however.
06/27/17
MSCO
06/27/17
NO CHANGE
MSCO
Morgan Stanley has increased confidence in $12 earnigns power
Morgan Stanley analyst Katy Huberty said Western Digital's updated guidance increases confidence in $12/share earnings power, despite Toshiba-related headlines. Huberty said June quarter upside was largely driven by NAND and 10TB Helium HDD results, indicating the company's portfolio advantages. Huberty rates Western Digital an Overweight with a $120 price target.
MU Micron
$29.86

-1.61 (-5.12%)

06/30/17
STFL
06/30/17
NO CHANGE
STFL
Micron price target raised to $60 from $47 at Stifel
Stifel analyst Kevin Cassidy raised his price target on Micron after the company reported beat and raise results. Cassidy is upbeat on the company's fundamentals and keeps a Buy rating on the stock.
06/30/17
COWN
06/30/17
NO CHANGE
Target $40
COWN
Outperform
Micron multiple remains unreasonably low, says Cowen
Cowen analyst Timothy Arcuri noted Micron posted a solid beat and raise quarterly result, with annualized profits that were double the last cycle. The analyst said fundamentals have improved but the multiple on the stock remains unreasonably low. Arcuri reiterated his Buy rating and raised his price target to $40 from $38 on Micron shares.
06/30/17
BARD
06/30/17
NO CHANGE
Target $48
BARD
Outperform
Micron price target raised to $48 from $40 at Baird
Baird analyst Tristan Gerra raised his price target on Micron to $48 from $40 following Q3 results, citing improvement in company fundamentals and a continued favorable supply/demand environment in both DRAM and NAND. Gerra reiterated his Outperform rating on Micron shares.
06/30/17
RSBL
06/30/17
NO CHANGE
Target $75
RSBL
Buy
Micron price target raised to $75 from $60 at Rosenblatt
SPNC Spectranetics
$38.40

0.05 (0.13%)

04/12/17
GUGG
04/12/17
NO CHANGE
GUGG
Spectranetics growth poised to accelerate, says Guggenheim
Guggenheim analyst Chris Pasquale expects FDA approval of Spectranetics' Stellarex device for peripheral arterial disease to spark significant growth acceleration by the company. After speaking with 25 "high-volume interventional cardiologists" about Stellarex's outlook, Pasquale says that the checks are "highly encouraging." Specifically, the analyst reports that the doctors see the drug as "a best-in-class product," and he thinks that investors could be "significantly underestimating" the outlook for the drug's market share. He keeps a $35 price target and a Buy rating on the name.
06/30/17
NORL
06/30/17
DOWNGRADE
NORL
Market Perform
Spectranetics downgraded to Market Perform from Outperform at Northland
06/29/17
NRCS
06/29/17
DOWNGRADE
NRCS
Neutral
Spectranetics downgraded to Neutral from Buy at Northcoast
06/28/17
RBCM
06/28/17
NO CHANGE
RBCM
RBC sees competing bid for Spectranetics as unlikely
RBC Capital analyst Glenn Novarro believes a competing bid for Spectranetics (SPNC) is unlikely and that Philips' (PHG) offer "signals a high probability of an on-time approval." The analyst notes Boston Scientific (BSX) is already developing a drug-eluting stent and a drug-coated balloon for peripheral artery disease and that Abbott (ABT) is integrating St. Jude while also soon closing its buyout of Alere (ALR).
PHG Philips
$35.82

0.1 (0.28%)

06/20/17
DBAB
06/20/17
DOWNGRADE
DBAB
Hold
Philips downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Gael de-Bray downgraded Philips to Hold with an unchanged price target of EUR 34 citing valuation with the stock up 52% over the past year.
06/21/17
NTXS
06/21/17
DOWNGRADE
NTXS
Neutral
Philips downgraded to Neutral from Buy at Natixis
GOV Government Properties

07/19/16
JEFF
07/19/16
DOWNGRADE
Target $17
JEFF
Underperform
Government Properties downgraded to Underperform from Hold at Jefferies
Jefferies analyst Jonathan Petersen downgraded Government Properties to Underperform with the shares up 92% since the mid-January lows. The average age of Government Properties' buildings, at 30 years, exposes the company to higher renewal risk, and the safety of the dividend is uncertain, Petersen tells investors in a research note. He keeps a $17 price target for the shares.
FPO First Potomac

06/13/17
RHCO
06/13/17
DOWNGRADE
RHCO
Hold
First Potomac downgraded to Hold from Buy at SunTrust
05/02/17
STFL
05/02/17
DOWNGRADE
Target $9.5
STFL
Sell
First Potomac downgraded to Sell from Hold at Stifel
Stifel analyst John Guinee downgraded First Potomac to Sell and maintained a $9.50 price target to reflect Net Asset Value erosion. The analyst is concerned about "mundane" lease economics, leverage, lack of rent growth in the D.C. market, and thinks the company needs a significant equity infusion for basic operations.
06/13/17
RHCO
06/13/17
DOWNGRADE
RHCO
Hold
First Potomac downgraded based on valuation at SunTrust
As noted earlier, SunTrust downgraded First Potomac to Hold from Buy. Analyst Michael Lewis downgraded the stock based on valuation. Target remains $11.
06/12/17
EVER
06/12/17
DOWNGRADE
EVER
Underperform
First Potomac downgraded to Underperform from In Line at Evercore ISI
Evercore ISI analyst Steve Sakwa downgraded Essex Property Trust to Underperform citing strong year-to-date performance and maintained a $11 price target.
RAD Rite Aid
$2.95

0.06 (2.08%)

06/29/17
JEFF
06/29/17
NO CHANGE
Target $95
JEFF
Buy
Jefferies sees Walgreens topping new synergy target
Jefferies analyst Brian Tanquilut fully expects Walgreens Boots Alliance (WBA) to exceed its new synergy target from the purchase of Rite Aid (RAD) stores. He also expects the FTC to approve the new agreement as he thinks Walgreens wouldn't have entered into it if the agency wasn't fully aware and on-board with the revised transaction. The analyst views the recent pullback in Walgreens shares as overdone and keeps a Buy rating on the name with a $95 price target.
06/30/17
COWN
06/30/17
NO CHANGE
Target $5
COWN
Outperform
Rite Aid better positioned following new agreement, says Cowen
Cowen analyst Charles Ryhee said he is positive on the new Rite Aid (RAD) agreement with Walgreens (WBA) as it better positions the company than had it remained stand-alone with no deal at all. Benefits include deleveraging, lower generic procurement costs, increased financial flexibility and "great" leverage toward PBM, which is growing faster than retail. Ryhee reiterated his Outperform rating and $4.70 price target on Rite Aid shares.
06/30/17
EVER
06/30/17
INITIATION
EVER
Underperform
Rite Aid reinstated with an Underperform at Evercore ISI
Evercore ISI analyst Ross Muken reinstated Rite Aid with an Underperform rating, versus In-Line previously, to reflect threats from online competition, structural challenges at the back-end of pharmacy given network positioning, and limited strategic options. The analyst sees downside near-term to $2.00-$2.50 per share.
06/30/17
06/30/17
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. Rite Aid (RAD) reinstated with an Underperform at Evercore ISI. 2. Hill-Rom (HRC) initiated with a Buy at Needham and Neutral at Cantor. 3. Dermira (DERM) initiated with an Outperform at Evercore ISI. 4. Coach (COH) initiated with a Buy at Canaccord. 5. WWE (WWE) initiated with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
WBA Walgreens Boots Alliance
$78.31

-0.06 (-0.08%)

06/30/17
NEED
06/30/17
UPGRADE
NEED
Buy
Walgreens Boots Alliance upgraded to Buy from Hold at Needham
06/30/17
06/30/17
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. Cabot Oil & Gas (COG) upgraded to Buy from Neutral at BofA/Merrill with analyst Doug Leggate saying Cabot 's gross Marcellus takeaway capacity will increase to 3.7 bcf/d from 2bcf/d by end of 2018 and positioned to increase free cash flow to $2B from $872M per year for 25 years. 2. Becton Dickinson (BDX) upgraded to Strong Buy from Outperform at Raymond James with analyst Lawrence Keusch saying he believes it should be a core holding based an an above average outlook for 5%-6% organic growth and mid-teens earnings increases with further potential upside. 3. Walgreens Boots Alliance (WBA) upgraded to Buy from Hold at Needham. 4. ManTech (MANT) upgraded to Buy from Hold at Loop Capital with analyst Joseph Vafi saying he sees "company-specific and secular catalysts" driving improving fundamentals and upward revisions to consensus estimates. 5. D.R. Horton (DHI) upgraded to Outperform from Market Perform at Raymond James with the firm saying it is uniquely positioned to capitalize on an unexpectedly tight and historically low existing home inventories, while new home demand remains broadly resilient despite rising prices. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FRED Fred's
$9.23

-0.28 (-2.94%)

06/29/17
DBAB
06/29/17
NO CHANGE
Target $8
DBAB
Hold
Fred's price target lowered to $8 from $16 at Deutsche Bank
Deutsche Bank analyst Paul Trussell halved his price target for Fred's (FRED) to $8 after the company's asset purchase in connection with the failed Walgreens Boots Alliance (WBA), Rite Aid (RAD) merger was terminated. Fred's is now left to execute its pharmacy transformation organically, Trussell tells investors in a research note. He believes the company faces increasing competition in the dollar store space and keeps a Hold rating on the name.
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.
06/06/17
WELS
06/06/17
NO CHANGE
WELS
Amazon may be the next threat to drug pricing, says Wells Fargo
After CNBC recently reported that Amazon (AMZN) is considering going into the prescription pharmacy business in the U.S., Wells Fargo surveyed nearly 2,900 U.S. adults and found that 54% of those polled said they would use or would probably use "Amazon Pharmacy." While the e-commerce giant has not confirmed its U.S. pharmacy interest, if it did enter the market analyst David Maris believes it could see fast adoption and "usher in a new age of price transparency." Maris also wonders if pharmacy "may be just the beginning" and if Amazon eyes the "even larger prize" of fully integrated digital healthcare. Publicly traded large-cap pharmaceuticals companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded retail pharmacy operators include CVS Health (CVS), Walgreens (WBA), Fred's (FRED) and Rite Aid (RAD).
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.
STZ Constellation Brands, also tag STZ.B
$193.73

0.94 (0.49%)

06/30/17
SUSQ
06/30/17
NO CHANGE
Target $169
SUSQ
Neutral
Constellation Brands rally should not be chased, says Susquehanna
Susquehanna analyst Pablo Zuanic noted Constellation Brands posted solid Q1 results and acknowledged the stock is a consensus buy. Despite the results, he said he would not chase the rally and he expects the stock will give back some of its gains in the quarter ahead. Zuanic raised his price target to $169 from $162 on Constellation Brands shares, but maintained his Neutral rating.
06/30/17
GSCO
06/30/17
NO CHANGE
Target $212
GSCO
Conviction Buy
Constellation Brands price target raised to $212 from $198 at Goldman Sachs
Goldman analyst Judy Hong said Constellation Brands reported a Q1 beat driven by better than expected beer margins that reached 40%, 200bps above her estimate. The analyst expects beer margins to moderate somewhat in second half 2017 but said the beat was encouraging and further earnings upside is likely. Hong raised Constellation Brands' price target to $212 from $198 and reiterated her Conviction Buy rating.
06/30/17
RHCO
06/30/17
NO CHANGE
RHCO
Constellation Brands guidance 'looks conservative,' says SunTrust
SunTrust analyst William Chappell, Jr. notes that Constellation's Q1 beer margins beat expectations ,and the analyst raised his EPS estimates for the company. The analyst expects headwinds to the company's margins to intensify for the rest of the year, but he thinks that its guidance looks conservative. He reiterates a Buy rating on the stock.
06/26/17
MSCO
06/26/17
NO CHANGE
Target $204
MSCO
Overweight
Constellation Brands no longer a Top Pick post run-up at Morgan Stanley
Morgan Stanley analyst Dara Mohsenian continues to expects Constellation Brands (STZ) to report another solid quarter above Q1 consensus estimates but said expectations are somewhat high and shares are up nearly 30% since January. The analyst is switching to Newell Brands (NWL) as a Top Pick and out of Constellation Brands following recent share strength. Mohsenian maintains an Overweight on Constellation with a $204 price target due to high earnings visibility and believes the market is mispricing long-term growth potential.
PIR Pier 1 Imports
$5.19

0.26 (5.27%)

06/29/17
06/29/17
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. Monro Muffler (MNRO) downgraded to Equal Weight from Overweight at Stephens. 2. Pier 1 Imports (PIR) downgraded to Hold from Accumulate at Johnson Rice. 3. Emcore (EMKR) downgraded to Neutral from Buy at B. Riley with analyst Dave Kang citing valuation and the cyclical nature of the CATV business. 4. INC Research (INCR) downgraded to Hold from Buy at Jefferies with analyst David Windley saying near term integration risk from the inVentiv merger is not fully incorporated into the shares. 5. Precision Drilling (PDS) downgraded to Neutral from Overweight at Piper Jaffray with analyst John Daniel saying land drilling stocks screen fairly valued. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/17
JRCO
06/29/17
DOWNGRADE
JRCO
Hold
Pier 1 Imports downgraded to Hold from Accumulate at Johnson Rice
06/29/17
LOOP
06/29/17
NO CHANGE
Target $10
LOOP
Buy
Pier 1 Imports 'disappointing' report mainly due to furniture, says Loop Capital
Loop Capital analyst Anthony Chukumba said he is "comforted" by the fact that Pier 1 Imports' disappointing Q1 results and Q2 guidance were largely driven by underperformance in one product category, outdoor furniture. Chukumba, who notes Pier 1 is much less dependent on furniture sales in the second half of the year than in the first, also said he was encouraged by the newly appointed CEO's strategic plan. He lowered his price target on Pier 1 to $10 from $12, but keeps a Buy rating on the shares, which are down 10% to $4.84 in pre-market trading.
06/29/17
JEFF
06/29/17
NO CHANGE
Target $5.9
JEFF
Hold
Pier 1 Imports shares likely to be range bound, says Jefferies
Jefferies analyst Daniel Binder expects shares of Pier 1 Imports to be range bound over the next few months after the CEO placed the entire business under review. Management has been sparse on details and a strategic plan announcement is not expected until November, Binder tells investors in a research note. The analyst lowered his price target for the shares to $5.90 from $7.25 and keeps a Hold rating on Pier 1.

TODAY'S FREE FLY STORIES

TGT

Target

$60.08

0.05 (0.08%)

10:42
10/19/17
10/19
10:42
10/19/17
10:42
Hot Stocks
Target says small-format store in Herald Square to open October 20 »

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    Nov

UAL

United Continental

$63.93

-4.06 (-5.97%)

10:40
10/19/17
10/19
10:40
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10:40
Hot Stocks
United Continental says Q3 involuntary denied boardings down 92% y/y »

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    Oct

VRX

Valeant

$12.10

-0.29 (-2.34%)

10:40
10/19/17
10/19
10:40
10/19/17
10:40
Options
Higher options volume in Valeant as one player banks a big profit »

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BP

BP

$38.81

0.09 (0.23%)

10:36
10/19/17
10/19
10:36
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10:36
Hot Stocks
BP chairman Carl-Henric Svanberg announces intention to retire »

BP announces that…

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MON

Monsanto

$121.99

-0.09 (-0.07%)

, AGCO

Agco

$70.84

-0.91 (-1.27%)

10:33
10/19/17
10/19
10:33
10/19/17
10:33
Hot Stocks
Monsanto's Climate Corp announces data connectivity agreement with Agco »

The Climate Corporation,…

MON

Monsanto

$121.99

-0.09 (-0.07%)

AGCO

Agco

$70.84

-0.91 (-1.27%)

03/08/13
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  • 31

    Oct

FCEL

FuelCell

$2.13

0.09 (4.41%)

10:31
10/19/17
10/19
10:31
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10:31
Hot Stocks
FuelCell to supply power to Navy base in Connecticut »

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  • 16

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10:30
10/19/17
10/19
10:30
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10:30
General news
EIA natural gas storage change for week ending October 13 »

Gas inventories 51 Bcf…

MU

Micron

$41.65

1.26 (3.12%)

10:30
10/19/17
10/19
10:30
10/19/17
10:30
Options
Active trading in Micron calls as shares slump Thursday »

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  • 19

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  • 23

    Oct

NKE

Nike

$52.21

-0.0915 (-0.17%)

, ADDYY

adidas

$112.54

-0.08 (-0.07%)

10:29
10/19/17
10/19
10:29
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10:29
Hot Stocks
Goldman Sachs cuts Nike rating ahead of investor day on excess inventory »

This morning, Goldman…

NKE

Nike

$52.21

-0.0915 (-0.17%)

ADDYY

adidas

$112.54

-0.08 (-0.07%)

GRPN

Groupon

$5.00

0.05 (1.01%)

03/08/13
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ULTA

Ulta Beauty

$200.90

2.59 (1.31%)

10:29
10/19/17
10/19
10:29
10/19/17
10:29
Rumors
Rumor moving shares of Ulta Beauty »

Rumor: Ulta Beauty…

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10:25
10/19/17
10/19
10:25
10/19/17
10:25
General news
Today's U.S. reports »

Today's U.S. reports…

UAL

United Continental

$64.26

-3.73 (-5.49%)

10:23
10/19/17
10/19
10:23
10/19/17
10:23
Technical Analysis
Technical View: United Continental falls after results and outlook »

The company reported Q3…

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  • 19

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MEIP

MEI Pharma

$2.48

0.15 (6.44%)

10:23
10/19/17
10/19
10:23
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10:23
Hot Stocks
MEI Pharma's pracinostat granted EU orphan designation »

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VZ

Verizon

$50.08

1.431 (2.94%)

10:20
10/19/17
10/19
10:20
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10:20
Options
Notable ratio spread in Verizon as shares rally on earnings »

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10:20
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General news
Treasury Action: yields resumed their slide »

Treasury Action: yields…

$NSD

NASDAQ Market Internals

10:17
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10:17
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10:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

10:16
10/19/17
10/19
10:16
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10:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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MRK

Merck

$63.76

0.25 (0.39%)

, TEVA

Teva

$14.61

-0.01 (-0.07%)

10:15
10/19/17
10/19
10:15
10/19/17
10:15
Periodicals
Merck wins appeal to revive NuvaRing patent case against Teva, Bloomberg says »

An appeals court said a…

MRK

Merck

$63.76

0.25 (0.39%)

TEVA

Teva

$14.61

-0.01 (-0.07%)

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ADP

ADP

$113.93

0.21 (0.18%)

10:15
10/19/17
10/19
10:15
10/19/17
10:15
Hot Stocks
Pershing Square releases additional questions for ADP »

Pershing Square Capital…

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  • 22

    Oct

  • 02

    Nov

10:15
10/19/17
10/19
10:15
10/19/17
10:15
General news
U.S. leading economic index fell 0.2% to 128.6 in September »

U.S. leading economic…

10:15
10/19/17
10/19
10:15
10/19/17
10:15
General news
Breaking General news story  »

Week of 10/13 EIA Natural…

GS

Goldman Sachs

$240.07

-1.96 (-0.81%)

10:13
10/19/17
10/19
10:13
10/19/17
10:13
Hot Stocks
Blankfein: 'Just left Frankfurt,' 'I'll be spending a lot more time there' »

Goldman Sachs Chairman…

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  • 22

    Oct

  • 23

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EVHC

Envision Healthcare

$40.70

0.05 (0.12%)

10:11
10/19/17
10/19
10:11
10/19/17
10:11
Periodicals
Starboard's Smith to pitch Envision Healthcare as long idea, Bloomberg says »

Starboard Value's…

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  • 01

    Nov

NNI

Nelnet

$51.05

-0.27 (-0.53%)

10:10
10/19/17
10/19
10:10
10/19/17
10:10
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Nelnet rating change  »

Follow-up: Nelnet…

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CZR

Caesars

$12.30

0.4 (3.36%)

10:10
10/19/17
10/19
10:10
10/19/17
10:10
Options
Short-term call buyer in Ceaser's opens a notable new position »

Short-term call buyer in…

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  • 08

    Nov

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