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MO

Altria Group

$65.28

-1.6556 (-2.47%)

, AAL

American Airlines

$50.49

0.49 (0.98%)

10:16
07/31/17
07/31
10:16
07/31/17
10:16

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Altria Group (MO) upgraded to Sector Perform from Underperform at RBC Capital with analyst Nik Modi saying he believes the FDA's tobacco announcement on Friday was "very much in line" with industry expectations despite the surprise to investors. 2. American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen. 3. Baidu (BIDU) upgraded to Buy from Neutral at Nomura Instinet with analyst Jialong Shi-NIHK citing accelerating revenue momentum driven by news feed ads and an undervalued video business. 4. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham citing valuation. The firm also ended its pair trade call of going long Citi (C) and short Wells Fargo. 5. GoPro (GPRO) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Yuuji Anderson saying valuation better reflects efforts to driver better product cycles through software improvements. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

MO

Altria Group

$65.28

-1.6556 (-2.47%)

AAL

American Airlines

$50.49

0.49 (0.98%)

BIDU

Baidu

$220.00

19 (9.45%)

WFC

Wells Fargo

$53.84

0.54 (1.01%)

GPRO

GoPro

$8.10

0.04 (0.50%)

  • 03

    Aug

  • 07

    Aug

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    Aug

  • 09

    Aug

  • 08

    Sep

  • 12

    Oct

  • 15

    Jan

MO Altria Group
$65.28

-1.6556 (-2.47%)

07/31/17
07/31/17
UPGRADE
Target $62

Sector Perform
Altria Group upgraded to Sector Perform at RBC Capital
As previously reported, RBC Capital analyst Nik Modi upgraded Altria Group to Sector Perform from Underperform, as he believes the FDA's tobacco announcement on Friday was "very much in line" with industry expectations despite the surprise to investors. Modi, who still thinks tobacco stocks can perform despite major overhangs, keeps a $62 price target on Altria.
07/28/17
JEFF
07/28/17
NO CHANGE
JEFF
FDA plan could be positive for tobacco industry profit growth, says Jefferies
Jefferies analyst Owen Bennett said the FDA plan to pursue cutting nicotine in cigarettes is a positive for future profit growth, arguing it could lead to more favorable tax treatment and volume growth in vapor. However the key question will now be who is positioned to take advantage, he tells investors. Shares of tobacco product companies are sharply lower after the FDA announced its new proposal.
07/31/17
RBCM
07/31/17
UPGRADE
RBCM
Sector Perform
Altria Group upgraded to Sector Perform from Underperform at RBC Capital
07/31/17
WELS
07/31/17
NO CHANGE
WELS
Altria Group still likely to be acquired after FDA news,says Wells Fargo
After the FDA announced a new approach towards nicotine Friday, Wells Fargo expects Altria (MO) to be "a big beneficiary" of the approach, since it will spur much higher purchases of reduced-risk products and smokeless cigarettes, leading to share gains for Altria, according to the firm. Wells believes that the FDA's announcement may increase the value of Altria to "close to $90 per share" from $80 per share previously, and it continues to expect the company to be acquired by Philip Morris (PM). Wells thinks that tobacco stocks could experience an "overhang in the near-term," but it says the news "could be positive" for the sector over the longer term, as it thinks the large tobacco companies will ultimately benefit from the change in consumption trends. British American Tobacco (BTI) is another publicly traded company in the sector.
AAL American Airlines
$50.49

0.49 (0.98%)

06/22/17
DBAB
06/22/17
NO CHANGE
DBAB
Buy
Deutsche sees Qatar interest in American as positive for U.S. airline stocks
Deutsche Bank analyst Michael Linenberg notes that several U.S. air carriers have made cross-border investments over the past several years and he saw it as "only a matter of time" before a non-US carrier would consider buying into an attractively valued U.S. airline. He views Qatar Airways' interest in acquiring an approximately 10% stake in American (AAL) as a positive for U.S. airline stocks that reinforces their relative "cheapness." The analyst, who thinks the fact that the U.S. airline industry is on track to account for more than 50% of global airline profits again in 2017 does not appear to be fully appreciated, has Buy ratings on American, Delta (DAL), Southwest (LUV) and United (UAL).
06/29/17
BOFA
06/29/17
NO CHANGE
BOFA
BofA/Merrill raises Airline estimates, Delta and Southwest best positioned
BofA/Merrill analyst Andrew Didora raised Airline estimates and price target to reflect lower fuel pricing and remains positive on the industry said to remain selective into second-half 2017. The analyst believes Buy rated Delta Air Lines (DAL) and Southwest (LUV) are best positioned for sequential unit revenue improvement in the second half due to decelerating and easing comps and raised their price targets to $71 and $75 from $64 and $62, respectively. The analyst expects capacity to increase modestly in 2018 to +3.4% from +2.8% in 2017 and expects Delta to accelerate capacity growth to +1.9% and Southwest to +5%. As part of the sector note, Didora raised Buy rated United Continental's (UAL) price target to $105 from $85, Alaska Air's (ALK) to $120 from $115, Spirit Airlines' (SAVE) down to $68 from $75, and raised Underperform rated American Airlines' (AAL) to $42 from $40 and lowered Hawaiian Holdings' (AAL) to $43 from $47.
07/10/17
OPCO
07/10/17
NO CHANGE
OPCO
Oppenheimer recommends buying American Airlines, United Continental
Oppenheimer analyst Ari Wald continues to make the case that interest rates are bottoming, reflationary sectors are positioned for a stronger second half, and market internals should strengthen as well. The analyst sees additional upside for both Banks and Transports, and within the last, its high-conviction idea is to keep buying airlines, such as Alaska Air (ALK), American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV), and United Continental (UAL). Elsewhere in Transports, Wald is bullish on the breakout in shares of FedEx (FDX) and Old Dominion (ODFL), and views Norfolk Southern (NSC) and Landstar System (LSTR) as attractive pre-breakout candidates.
07/31/17
COWN
07/31/17
UPGRADE
COWN
Outperform
American Airlines upgraded to Outperform from Market Perform at Cowen
BIDU Baidu
$220.00

19 (9.45%)

07/28/17
MACQ
07/28/17
UPGRADE
MACQ
Outperform
Baidu upgraded to Outperform from Neutral at Macquarie
07/31/17
NOMU
07/31/17
UPGRADE
Target $241
NOMU
Buy
Baidu upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst Jialong Shi-NIHK upgraded Baidu to Buy with a $241 price target citing accelerating revenue momentum driven by news feed ads, and an undervalued video business.
07/31/17
OPCO
07/31/17
NO CHANGE
Target $250
OPCO
Outperform
Baidu price target raised to $250 from $200 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Baidu to $250 from $200 following better than expected Q2 results and guidance. The analyst reiterates an Outperform rating on the shares.
07/28/17
MACQ
07/28/17
UPGRADE
Target $252
MACQ
Outperform
Macquarie upgrades Baidu to Outperform on shift to AI
Macquarie analyst Wendy Huang upgraded Baidu to Outperform from Neutral and raised her price target for the shares to $252 from $189 following the company's Q2 results. Baidu's strategic shift from O2O to artificial intelligence should lead to sustainable margin recovery, Huang tells investors in a research note. The shares in midday trading are up 11%, or $21.81, to $222.81.
WFC Wells Fargo
$53.84

0.54 (1.01%)

07/31/17
BMOC
07/31/17
DOWNGRADE
BMOC
Market Perform
Citi downgraded on valuation, lack of catalysts at BMO Capital
As noted earlier, BMO Capital downgraded Citi (C) to Market Perform from Outperform. Analyst James Fotheringham downgraded the stock based on valuation and lack of catalysts. In conjunction with this note, he upgraded Wells Fargo (WFC) to Outperform from Market Perform and ended his pair trade call of going long Citi and short Wells Fargo. Target on Citi is $65.
07/31/17
BMOC
07/31/17
UPGRADE
BMOC
Market Perform
Wells Fargo upgraded on valuation at BMO Capital
As noted earlier, BMO Capital upgraded Wells Fargo (WFC) to Market Perform from Underperform. Analyst JamesFotheringham upgraded the stock based on valuation. In conjunction with the note, the firm downgraded Citi (C) to Market Perform from Outperform, and ended its pair trade call of going long Citi and short Wells Fargo. Target on Wells Fargo is $49.
07/31/17
BMOC
07/31/17
UPGRADE
BMOC
Market Perform
Wells Fargo upgraded to Market Perform from Underperform at BMO Capital
07/21/17
07/21/17
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. Johnson & Johnson (JNJ) was downgraded to Sell from Neutral at BTIG and to Underweight from Neutral at Atlantic Equities. 2. Wells Fargo (WFC) downgraded to Sell from Hold at Berenberg with analyst James Chappell saying the bank's competitive advantages have been eroded. 3. RH (RH) downgraded to Hold from Buy at Deutsche Bank with analyst Adam Sindler citing valuation with the stock up 36% over the past month and 15% this week alone. 4. Union Pacific (UNP) downgraded to Hold from Buy at Deutsche Bank with analyst Amit Mehrotra saying moderating volumes as well as risks to industrial production in the second half of the year and beyond will limit share upside over the medium term. 5. Check Point (CHKP) downgraded to Neutral from Overweight at Piper Jaffray with analyst Andrew Nowinski saying with the stock up 27% year-to-date, the valuation has now "reached a peak" given the decelerating billings, product/subscription and free cash flow growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GPRO GoPro
$8.10

0.04 (0.50%)

06/07/17
ADAM
06/07/17
NO CHANGE
Target $72
ADAM
Buy
Ambarella transition to continue for several quarters, says Canaccord
Canaccord analyst Matthew Ramsay noted Ambarella reported better than expected Q1 results reflecting strength in several end markets, including professional and home security, automotive, wearable cameras, offset by a decline in drone sales from Tier-2 customers. The company maintained flat guidance while the analyst believes the company will remain in transition until the computer vision family of products is detailed further to investors. Ramsay maintained his Buy rating and $72 price target on Ambarella shares.
07/31/17
07/31/17
UPGRADE
Target $7.5

Equal Weight
GoPro upgraded to Equal Weight on valuation at Morgan Stanley
As previously reported, Morgan Stanley upgraded GoPro to Equal Weight from Underweight with a $7.50 price target. Analyst Yuuji Anderson said valuation better reflects efforts to driver better product cycles through software improvements.
07/31/17
MSCO
07/31/17
UPGRADE
MSCO
Equal Weight
GoPro upgraded to Equal Weight from Underweight at Morgan Stanley
04/27/17
ADAM
04/27/17
NO CHANGE
Target $72
ADAM
Buy
Ambarella has compelling potential opportunity with Amazon, says Canaccord
Canaccord analyst Matthew Ramsay believes the future of Ambarella (AMBA) will be driven by a combination of image capture and computer vision artificial intelligence processing in several end markets, including security, drone, and automotive cameras. Ramsay believes its first computer vision application will come in Amazon's (AMZN) new Echo Look camera. He believes despite the decline of GoPro (GPRO) business, investors are beginning to understand Ambarella's complex sensor fusion logic algorithm and computer vision hardware roadmaps. Ramsay reiterated his Buy rating and $72 price target on Ambarella shares.

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Trinity Industries

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Lpath

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Progressive

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TMO

Thermo Fisher

$172.57

-0.32 (-0.19%)

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SMBC

Southern Missouri Bancorp

$31.18

-0.05 (-0.16%)

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IEP

Icahn Enterprises

$50.00

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

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Icahn Enterprises

$50.00

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NVTA

Invitae

$9.60

0.05 (0.52%)

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NVTA

Invitae

$9.60

0.05 (0.52%)

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MU

Micron

$30.38

0.76 (2.57%)

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INSY

Insys Therapeutics

$9.17

-0.11 (-1.19%)

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AKTX

Akari Therapeutics

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JMBA

Jamba

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HIL

Hill International

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TGT

Target

$55.65

-0.47 (-0.84%)

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NBEV

New Age Beverages

$3.51

-0.49 (-12.25%)

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ATW

Atwood Oceanics

$6.26

0.22 (3.64%)

, ESV

Ensco

$4.28

0.12 (2.88%)

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NSRGY

Nestle

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