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ADP

ADP

$117.38

1.75 (1.51%)

06:31
07/31/17
07/31
06:31
07/31/17
06:31

ADP upgraded to In Line from Underperform at Evercore ISI

Evercore ISI analyst David Togut upgraded ADP to In Line with a $115 price target following disclosure of Bill Ackman's recently disclosed stake in the company. The analyst expects shares to respond more to the Ackman's shareholder creating value ideas rather than underlying business fundamentals.

ADP ADP
$117.38

1.75 (1.51%)

07/27/17
BARD
07/27/17
NO CHANGE
Target $95
BARD
Neutral
Baird sees Ackman revisting prior play book at ADP
Baird analyst Mark Marcon noted that Bill Ackman previously owned a position in ADP (ADP) from 2009-2011 and agitated for changes that included rationalizing its balance sheet and spinning off non-core businesses, followed by the company spinning off CDK and buying back stock. With Ackman now reportedly back in the stock, he expects a renewal of the play book, but believes shareholder value enhancement from buy backs would be "modest" given the stock's current level. "Ironically," ADP also suggested competitive wins against Paychex (PAYX) on its earnings call today, but that stock is also rising following the Ackman news, Marcon said. He keeps a Neutral rating on ADP shares.
07/21/17
WBLR
07/21/17
DOWNGRADE
WBLR
Market Perform
Paychex downgraded to Market Perform from Outperform at William Blair
William Blair analyst Timothy McHugh downgraded Paychex (PAYX) to Market Perform citing his updated industry model. The analyst this morning also downgraded ADP (ADP) to Market Perform.
07/21/17
WBLR
07/21/17
DOWNGRADE
WBLR
Market Perform
ADP downgraded to Market Perform from Outperform at William Blair
William Blair analyst Timothy McHugh downgraded ADP to Market Perform citing his updated industry model.
07/18/17
07/18/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Underweight from Equal Weight at Barclays with analyst Blayne Curtis saying he is "unconvinced" that AMD products will gain enough traction to support the current valuation. 2. ADP (ADP) downgraded to Equal Weight from Overweight at Barclays with analyst Darrin Peller citing valuation and the potential for lingering political driven uncertainty to impact bookings growth. The analyst lowered his price target for the shares to $105 from $110. 3. Cirrus Logic (CRUS) downgraded to Underweight from Equal Weight at Barclays with analyst Blayne Curtis saying the company's content story "stalls" in fiscal year 2019. 4. FMC Corporation (FMC) downgraded to Neutral from Buy at Seaport Global with analyst Michael Harrison saying competitor Bayer recently noted high inventories of crop protection chemicals in Brazil that creates a more cautious view of FMC's second half earnings. 5. Dominion Diamond (DDC) was downgraded to Hold from Buy at Gabelli and to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

FL

Foot Locker

$39.80

7.95 (24.96%)

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XRT

S&P Retail Index SPDR

$41.59

0.98 (2.41%)

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FTI

TechnipFMC

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0.175 (0.66%)

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$NSD

NASDAQ Market Internals

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AMD

AMD

$11.25

0.18 (1.63%)

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AMD calls outpace puts 4:1 as shares advance »

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TSLA

Tesla

$312.50

1.2 (0.39%)

, AMZN

Amazon.com

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AMZN

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CHRW

C.H. Robinson

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0.45 (0.56%)

LSTR

Landstar System

$96.80

1.75 (1.84%)

XPO

XPO Logistics

$74.29

0.1035 (0.14%)

JBHT

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WMT

Wal-Mart

$96.94

-2.68 (-2.69%)

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$NYE

NYSE Market Internals

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MDXG

MiMedx

$11.36

-0.58 (-4.86%)

12:12
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XOP

SPDR Oil Exploration and Production Fund

$34.83

0.525 (1.53%)

12:00
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Defensive short-term option play in SPDR Oil Exploration and Production ETF »

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TNK

Teekay Tankers

$1.41

0.01 (0.71%)

11:55
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Conference/Events
Teekay Tankers to host special shareholder meeting »

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  • 17

    Nov

TWX

Time Warner

$88.53

0.52 (0.59%)

, VIA

Viacom

$30.10

-0.65 (-2.11%)

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TWX

Time Warner

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VIA

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VIAB

Viacom

$23.69

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LGF.A

Lionsgate

$32.32

1.28 (4.12%)

LGF.B

Lionsgate

$30.70

1.17 (3.96%)

DIS

Disney

$103.61

0.01 (0.01%)

FOX

21st Century Fox

$28.60

0.65 (2.33%)

FOXA

21st Century Fox

$29.32

0.59 (2.05%)

CMCSA

Comcast

$37.07

-0.11 (-0.30%)

CMCSK

Comcast

SNE

Sony

$46.20

0.1 (0.22%)

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ANF

Abercrombie & Fitch

$15.49

2.9398 (23.42%)

11:50
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HFWA

Heritage Financial

$30.60

0.3 (0.99%)

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EEM

MSCI Emerging Markets Index

$46.81

0.215 (0.46%)

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108K iShares Emerging Markets Fund Dec 44.5 puts bought for 22c »

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ANF

Abercrombie & Fitch

$16.00

3.45 (27.49%)

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M

Macy's

$20.63

0.38 (1.88%)

11:30
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ANF

Abercrombie & Fitch

$15.94

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  • 17

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AAPL

Apple

$171.10

2.02 (1.19%)

11:24
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Periodicals
Apple delays release of HomePod to early 2018, TechCrunch reports »

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V

Visa

$110.15

-0.87 (-0.78%)

, MA

MasterCard

$148.53

-1.7995 (-1.20%)

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V

Visa

$110.15

-0.87 (-0.78%)

MA

MasterCard

$148.53

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GLD

SPDR Gold Trust

$122.32

0.92 (0.76%)

11:20
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Far downside put buyers in SPDR Gold ETF as the metal trades higher »

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$NSD

NASDAQ Market Internals

11:17
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$NYE

NYSE Market Internals

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TSLA

Tesla

$312.50

1.2 (0.39%)

, WMT

Wal-Mart

$97.67

-1.952 (-1.96%)

11:05
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Periodicals
Wal-Mart to test new Tesla electric trucks, CNBC reports »

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Tesla

$312.50

1.2 (0.39%)

WMT

Wal-Mart

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-1.952 (-1.96%)

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