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GS

Goldman Sachs

$218.66

-1.52 (-0.69%)

, STZ

Constellation Brands, also tag STZ.B

$196.67

-1.85 (-0.93%)

10:37
07/24/17
07/24
10:37
07/24/17
10:37

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Goldman Sachs (GS) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying the market seems to be pricing in an inflection in Goldman's trading revenue despite the recent weakness, suggesting a recovery is needed to justify 2018 consensus estimates. 2. Constellation Brands (STZ) downgraded to Neutral from Conviction Buy at Goldman Sachs. 3. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees further downside risk from weaker volumes and believes 2018 will be another year of volume decline and limited margin offset. 4. athenahealth (ATHN) downgraded to Underweight from Equal-Weight at First Analysis with analyst Frank Sparacino saying the valuation at current share levels is ahead of the underlying fundamentals in the short term. 5. PPG (PPG) was downgraded to Hold from Buy at SunTrust and to Neutral from Buy at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

GS

Goldman Sachs

$218.66

-1.52 (-0.69%)

STZ

Constellation Brands, also tag STZ.B

$196.67

-1.85 (-0.93%)

SAM

Boston Beer

$131.10

-6.2 (-4.52%)

ATHN

athenahealth

$155.93

12.13 (8.44%)

PPG

PPG

$105.45

-0.92 (-0.86%)

  • 01

    Aug

  • 01

    Aug

  • 17

    Oct

GS Goldman Sachs
$218.66

-1.52 (-0.69%)

07/24/17
UBSW
07/24/17
DOWNGRADE
Target $230
UBSW
Neutral
Goldman Sachs downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded Goldman Sachs (GS) to Neutral and cut his price target for the shares to $230 from $255. The bank closed Friday down $2.12 to $220.18. The market seems to be pricing in an inflection in Goldman's trading revenue despite the recent weakness, suggesting a recovery is needed to justify 2018 consensus estimates, Hawken tells investors in a research note. The analyst sees better opportunities for investors, such as Morgan Stanley (MS), as he has "limited confidence" in a revenue recovery at Goldman.
07/19/17
07/19/17
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. AMC Entertainment (AMC) downgraded to Equal Weight from Overweight at Barclays with analyst Kannan Venkateshwar saying he sees increased risk after China indicated over the weekend that the government has blocked banks from funding AMC's parent, Chinese real estate conglomerate Dalian Wanda. 2. Chipotle (CMG) downgraded to Market Perform from Outperform at BMO Capital and Wells Fargo. 3. Goldman Sachs (GS) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Kleinhanzl saying he sees a weakening revenue outlook following the investment bank's second quarter results. 4. PayPal (PYPL) downgraded to Hold from Buy at SunTrust with analyst Andrew Jeffrey citing valuation, "long-term competitive risk, and uncertain Venmo monetization." 5. First Solar (FSLR) downgraded to Hold from Buy at Standpoint Research with analyst Ronnie Moas saying the stock is fairly valued after jumping 70% over the past three months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/17
OPCO
07/19/17
NO CHANGE
Target $256
OPCO
Outperform
Goldman Sachs price target raised to $256 from $251 at Oppenheimer
Oppenheimer analyst Chris Kotowski raised his price target for Goldman Sachs to $256 from $251 as he still thinks there is a "reasonable probability" of a FICC rebound once long-term rates go up and thinks the market is awarding a near zero value to this. The analyst reiterates an Outperform rating on the shares.
07/19/17
KBWI
07/19/17
DOWNGRADE
KBWI
Market Perform
Goldman Sachs downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl downgraded Goldman Sachs to Market Perform from Outperform and cut his price target for the shares to $230 from $260. The analyst sees a weakening revenue outlook following the investment bank's Q2 results.
STZ Constellation Brands, also tag STZ.B
$196.67

-1.85 (-0.93%)

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.
07/24/17
GSCO
07/24/17
DOWNGRADE
GSCO
Neutral
Constellation Brands downgraded to Neutral from Conviction Buy at Goldman Sachs
Goldman analyst Judy Hong downgraded Constellation Brands to Neutral from Conviction Buy with a $210 price target, down from $212. The analyst's earnings estimates are still above consensus but said recent Mexican peso appreciation limits margin upside and results in a her trimming earnings estimates.
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.
06/30/17
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.
SAM Boston Beer
$131.10

-6.2 (-4.52%)

07/24/17
GSCO
07/24/17
DOWNGRADE
GSCO
Sell
Boston Beer downgraded to Sell from Neutral at Goldman Sachs
Goldman analyst Judy Hong downgraded Boston Beer to Sell with a $110 price target saying she sees further downside risk from weaker volumes and believes 2018 will be another year of volume decline and limited margin offset. The analyst lowered her overall US beer volume forecast to down .7% in 2017, versus flat, and down .3% in 2018, versus up .1%, to reflect industry wide softness and sees continued challenges in Boston Beer's core beer and cider portfolio.
04/28/17
04/28/17
UPGRADE
Target $179

Positive
Boston Beer upgraded to Positive, shares have bottomed, says Susquehanna
As previously reported, Susquehanna upgraded Boston Beer to Positive from Neutral and raised its price target to $179. Analyst Pablo Zuanic said shares have bottomed and positive catalysts for the rest of the year should drive upside.
06/12/17
COWN
06/12/17
NO CHANGE
Target $126
COWN
Underperform
Boston Beer shares should be sold, says Cowen
Cowen analyst Vivien Azer believes shares of Boston Beer should be sold as its market leading positions within craft beer and cider remain under pressure and represent the potential for continued share losses and risk for further downside guidance revisions. Azer maintained he Underperform rating and $126 price target on Boston Beer shares.
05/08/17
SUSQ
05/08/17
NO CHANGE
Target $179
SUSQ
Positive
Susquehanna conviction in Boston Beer increased following investor event
Susquehanna analyst Pablo Zuanic said he has increased conviction in Boston Beer following its investor seminar. Zuanic said there are significant changes taking place at Boston Beer, including new marketing initiatives, brand messaging, sales and distribution push, and a more disciplined approach to cost management. Zuanic reiterated his Positive rating and $179 price target on Boston Beer shares.
ATHN athenahealth
$155.93

12.13 (8.44%)

07/21/17
PIPR
07/21/17
NO CHANGE
Target $171
PIPR
Overweight
athenahealth price target raised to $171 from $152 at Piper Jaffray
Piper Jaffray analyst Sean Wieland raised his price target for athenahealth to $171 saying the company's participation in Medicare's "Qualified Entity Certification Program" provides a competitive advantage. The analyst rolled forward his valuation to FY18 estimates following the Q2 earnings report and reiterates an Overweight rating on the shares.
07/24/17
UBSW
07/24/17
NO CHANGE
Target $175
UBSW
Buy
athenahealth price target raised to $175 from $157 at UBS
UBS analyst Michael Cherny raised his price target on athenahealth to $175 from $157 following Q2 results. The analyst noted the company returned to better than expected growth from sequentially better macro trends, growth in hospital business, and the emerging focus on corporate costs, which he sees as a key positive. Cherny reiterated his Buy rating on athenahealth shares.
07/24/17
LEER
07/24/17
NO CHANGE
Target $155
LEER
Market Perform
athenahealth price target raised to $155 from $140 at Leerink
Leerink analyst David Larsen raised his price target for athenahealth to $155 from $140 following earnings. While the analyst is more positive on the stock, the recent rally in his view largely accounts for Elliott Management's involvement and he believes the company is still facing the same industry headwinds that it was facing 3 months ago. Larsen reiterates a Market Perform rating on the shares.
07/24/17
FANA
07/24/17
DOWNGRADE
Target $125
FANA
Underweight
athenahealth downgraded to Underweight from Equal-Weight at First Analysis
First Analysis analyst Frank Sparacino downgraded athenahealth to Underweight while raising his price target for the shares to $125 from $99. The valuation at current share levels is ahead of the underlying fundamentals in the short term, Sparacino tells investors in a research note. He views the risk/reward as unfavorable.
PPG PPG
$105.45

-0.92 (-0.86%)

07/24/17
RHCO
07/24/17
DOWNGRADE
RHCO
Hold
PPG downgraded on growth ,margin outlook at SunTrust
As noted earlier, SunTrust downgraded PPG to Hold from Buy. Following the company's Q2 results, analyst James Sheehan predicts that the company's EPS will increase just 4% this year due to input cost pressure and low coatings demand. He expects the stock to "remain range-bound" until the company's revenue and/or margins rebound.
07/24/17
BOFA
07/24/17
DOWNGRADE
Target $115
BOFA
Neutral
PPG downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Steve Byrne downgraded PPG to neutral and retained its $115 price target citing sluggish fundamentals and limited near-term catalysts and sees better relative value elsewhere in the group. The analyst said Q2 organic growth was zero and is concerned about the impact from a deceleration in global auto production and said PPG's ability to pass through rising raw material costs is unclear.
07/24/17
RHCO
07/24/17
DOWNGRADE
RHCO
Hold
PPG downgraded to Hold from Buy at SunTrust
07/24/17
JPMS
07/24/17
INITIATION
Target $365
JPMS
Neutral
Sherwin-Williams reinstated with a Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas reinstated coverage of Sherwin-Williams (SHW) with a Neutral rating and $365 price target. The anlayst prefers PPG (PPG) for its valuation.

TODAY'S FREE FLY STORIES

NFLX

Netflix

$190.12

0.56 (0.30%)

, DIS

Disney

$111.27

0.7 (0.63%)

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FOX

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MSGN

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AMCX

AMC Networks

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VIAB

Viacom

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VIA

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XOM

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ONCE

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ALK

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ORCL

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HUM

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KND

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CME

CME Group

$151.07

0.65 (0.43%)

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SPPI

Spectrum

$19.04

0.38 (2.04%)

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SO

Southern Company

$51.31

-0.21 (-0.41%)

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BHP

BHP Billiton

$43.08

0.74 (1.75%)

, XOM

Exxon Mobil

$83.03

0.13 (0.16%)

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BHP Billiton

$43.08

0.74 (1.75%)

XOM

Exxon Mobil

$83.03

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BDRBF

Bombardier

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TWX

Time Warner

$90.25

0.6 (0.67%)

, CMCSA

Comcast

$39.71

0.59 (1.51%)

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TWX

Time Warner

$90.25

0.6 (0.67%)

CMCSA

Comcast

$39.71

0.59 (1.51%)

CMCSK

Comcast

SNE

Sony

$44.84

0.39 (0.88%)

FOX

21st Century Fox

FOXA

21st Century Fox

$34.99

0.11 (0.32%)

LGF.A

Lionsgate

$32.99

0.49 (1.51%)

DIS

Disney

$111.27

0.7 (0.63%)

VIAB

Viacom

$30.24

0.53 (1.78%)

VIA

Viacom

$34.40

0.25 (0.73%)

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03/06/13
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EQIX

Equinix

$457.85

-2.5 (-0.54%)

17:17
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MET

MetLife

$51.41

-1.08 (-2.06%)

17:11
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Metlife failed to pay some pensions, Reuters reports »

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  • 12

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GM

General Motors

$40.95

0.14 (0.34%)

17:06
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TCEHY

Tencent

$50.31

-0.231 (-0.46%)

, BABA

Alibaba

$173.55

1.8 (1.05%)

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TCEHY

Tencent

$50.31

-0.231 (-0.46%)

BABA

Alibaba

$173.55

1.8 (1.05%)

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AMZN

Amazon.com

$1,179.14

4.88 (0.42%)

16:50
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  • 18

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HUM

Humana

$253.64

3.03 (1.21%)

, KND

Kindred Healthcare

$8.60

0.45 (5.52%)

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HUM

Humana

$253.64

3.03 (1.21%)

KND

Kindred Healthcare

$8.60

0.45 (5.52%)

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ORCL

Oracle

$48.30

-1.89 (-3.77%)

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CSX

CSX

$52.93

-4.38 (-7.64%)

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VRX

Valeant

$19.71

0.03 (0.15%)

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KMF

Kayne Anderson Midstream/Energy Fund

$13.78

0.09 (0.66%)

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Kayne Anderson Midstream/Energy Fund announces distribution of 30c per share »

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KYN

Kayne Anderson MLP

15:59
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Kayne Anderson MLP announces distribution of 45c per share for Q4 »

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KED

Kayne Anderson Energy

$16.68

-0.01 (-0.06%)

15:56
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KYE

Kayne Anderson Energy

$10.19

-0.01 (-0.10%)

15:53
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CSX

CSX

$52.93

-4.38 (-7.64%)

15:18
12/16/17
12/16
15:18
12/16/17
15:18
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CSX announces death of CEO E. Hunter Harrison »

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CBOE

CBOE Holdings

$126.37

0.31 (0.25%)

11:22
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12/16
11:22
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11:22
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CBOE should not be treated as 'set and forget,' Barron's says »

Bitcoin futures have…

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DIS

Disney

$111.27

0.7 (0.63%)

, FOXA

21st Century Fox

$34.99

0.11 (0.32%)

11:17
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Periodicals
Disney/Fox 'a murky web of deals within deals,' Barron's says »

Walt Disney's (DIS)…

DIS

Disney

$111.27

0.7 (0.63%)

FOXA

21st Century Fox

$34.99

0.11 (0.32%)

FOX

21st Century Fox

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ALK

Alaska Air

$70.83

1.44 (2.08%)

10:53
12/16/17
12/16
10:53
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10:53
Periodicals
Alaska air should bounce back in 2018, Barron's says »

While shares of Alaska…

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ONCE

Spark Therapeutics

$46.37

1.16 (2.57%)

10:42
12/16/17
12/16
10:42
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10:42
Periodicals
Spark Therapeutics selloff may be overdone, Barron's says »

Spark Therapeutics shares…

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  • 12

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