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TWX

Time Warner

, MDLZ

Mondelez

$43.62

-0.4 (-0.91%)

20:25
08/01/17
08/01
20:25
08/01/17
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Time Warner (TWX), consensus $1.19... Mondelez (MDLZ), consensus 46c... Dominion Energy (D), consensus 67c... Southern Company (SO), consensus 71c... Humana (HUM), consensus $3.08... Fidelity National Information Services (FIS), consensus 97c... Cardinal Health (CAH), consensus $1.24... Molson Coors (TAP), consensus $2.15... Vulcan Materials (VMC), consensus $1.20... Restaurant Brands (QSR), consensus 45c... AutoNation (AN), consensus 97c... Party City (PRTY), consensus 26c.

TWX

Time Warner

MDLZ

Mondelez

$43.62

-0.4 (-0.91%)

D

Dominion

$77.30

0.12 (0.16%)

SO

Southern Company

$48.53

0.6 (1.25%)

HUM

Humana

$230.77

-0.43 (-0.19%)

FIS

FIS

$91.87

0.65 (0.71%)

CAH

Cardinal Health

$77.33

0.07 (0.09%)

TAP

Molson Coors

$89.19

0.21 (0.24%)

VMC

Vulcan Materials

$119.20

-3.92 (-3.18%)

QSR

Restaurant Brands

$59.25

-0.33 (-0.55%)

AN

AutoNation

$41.97

-0.41 (-0.97%)

PRTY

Party City

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TWX Time Warner

07/13/17
BOFA
07/13/17
DOWNGRADE
Target $39
BOFA
Neutral
AT&T downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst David Barden downgraded AT&T (T) to Neutral from Buy and cut its price target to $39 from $46 on reduced visibility into catalysts such as corporate tax reform and potential headwinds from the Time Warner (TWX) merger. Barden expects the associated overhang of $40B in new equity issuance and the tightening of the deal spread will increasingly pressure AT&T's stock. Additionally, the analyst trimmed Q2 estimates due to a seasonally difficult quarter saying video, voice, and broadband metrics are expected to be challenging and AT&T is losing share in each category.
04/24/17
OPCO
04/24/17
NO CHANGE
OPCO
Sprint, DISH the only assets for sale, says Oppenheimer
Oppenheimer analyst Timothy Horan noted that wireless companies will be allowed to discuss M&A, and says he sees Sprint (S) and possibly DISH (DISH) as the only assets for sale. The analyst believes the most likely outcome is for consolidation around the four major wireless providers, something along the lines of Charter (CHTR)/Sprint, T-Mobile (TMUS)/Comcast (CMCSA; CMCSK), Verizon (VZ)/DISH, with AT&T's (T) position "fairly solidified" with DirectTV/Time Warner (TWX). Further, Horan suspects Sprint will be sold first, most likely to Charter, although T-Mobile is a possibility and could be the controlling company/management and likely paying a premium for Sprint.
04/20/17
04/20/17
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. Amazon.com (AMZN) downgraded to Peer Perform from Outperform at Wolfe Research with analyst Scott Mushkin saying shares are approaching his price target and he expects increasing competition through year-end. 2. Time Warner (TWX) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying shares are trading near the value of AT&T's (T) offering price. 3. Molson Coors (TAP) downgraded to Market Perform from Outperform at Cowen with analyst Vivien Azer citing expectations for persistent beer volume headwinds. The analyst believes alcohol consumption could be pressured for at least the next decade, partly due to increased cannabis use, and a contraction in the alcohol cycle. Azer said Molson is uniquely exposed to the increasingly vibrant and growing cannabis markets and notes there is an inverse relationship between cannabis use and alcohol consumption over time. 4. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi with analyst James Cakmak saying he sees insufficient upside to estimates to justify the lofty valuation. The analyst said the path to double-digit growth may be pushed out 2019 and limited potential to outperform topline expectations in 2017. Further, the analyst sees margin pressures from product mix towards StubHub and rising development spend for the backend, and limited opportunities for multiple expansion. 5. Ruth's Hospitality (RUTH) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Vaccaro citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/17
05/03/17
DOWNGRADE

Hold
Wunderlich downgrades Charter on valuation, sees some level of M&A priced in
As previously reported, Wunderlich analyst Matthew Harrigan downgraded Charter (CHTR) to Hold from Buy, citing valuation. He thinks that the current stock price imbeds some expectation for merger activity, apart from an eventual collapse of the Liberty Broadband (LBRDA) and Liberty Ventures (LVNTA) ownership structure, he tells investors. While a theoretical merger with Verizon (VZ) is "at least as strategically compelling" as AT&T's (T) deal for Time Warner (TWX), Harrigan thinks that price and regulatory hurdles could be difficult to overcome. He cut his price target on Charter to $350 from $360.
MDLZ Mondelez
$43.62

-0.4 (-0.91%)

07/25/17
PIPR
07/25/17
UPGRADE
Target $49
PIPR
Overweight
Mondelez upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery upgraded Mondelez to Overweight and raised his price target for the shares to $49 from $48. Favorable sugar and cocoa costs provide a boost to margins, Lavery tells investors in a research note. The analyst expects the company's cash build will be applied to buybacks.
07/25/17
07/25/17
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. Mondelez (MDLZ) upgraded to Overweight from Neutral at Piper Jaffray with analyst Michael Lavery saying favorable sugar and cocoa costs provide a boost to margins. 2. Big Lots (BIG) upgraded to Buy from Hold at Deutsche Bank analyst Paul Trussell saying the current valuation is "compelling" given the disconnect between the company's "impressive" operating profit growth and multiple. 3. Werner (WERN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ken Hoexter saying truckload utilization and rates are turning positive. 4. Atlassian (TEAM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Sanjit Singh saying has increased confidence in expansion trends of the user base and said there are clear signs of pricing power, supporting 30% topline growth and 40% free cash flow CAGR over the next 3 years. 5. DSW (DSW) upgraded to Buy from Hold at Deutsche Bank with analyst Paul Trussell saying the shares offer an "intriguing non-apparel value play." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/19/17
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.
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.
D Dominion
$77.30

0.12 (0.16%)

06/09/17
FBCO
06/09/17
NO CHANGE
FBCO
Outperform
Credit Suisse says Millstone bill still a potential positive for Dominion
After Connecticut lawmakers called a special session for June 30 in an attempt to pass a number of bills that were not taken up, Credit Suisse analyst Michael Weinstein said the there is a chance a "Millstone bill" intended to stabilize the profitability of Dominion's Millstone Power Station will be addressed. The analyst, who attributes Dominion's recent underperformance to diminishing prospects of Millstone legislation, said a failure to pass one this year would leave this as a potential positive catalyst next year. He keeps an Outperform rating on Dominion shares.
04/03/17
TUDR
04/03/17
DOWNGRADE
TUDR
Hold
Dominion downgraded to Hold from Buy at Tudor Pickering
02/03/17
JMPS
02/03/17
NO CHANGE
Target $42
JMPS
Outperform
Dominion allows isobutanol option with Intrexon to expire, says JMP Securities
JMP Securities analyst Jason Butler said that Intrexon (XON) management confirmed in conversations with him yesterday after the markets closed that Dominion (D) allowed its option with Intrexon Energy Partners for isobutanol production facilities in North America to expire without opting in. While "somewhat disappointing," Butler said he remains confident that Intrexon and the IEP joint venture, which was formed with undisclosed investors that do not include Dominion, are making progress and Dominion's decision should not impact IEP's ability to continue advancing its efforts toward commercial production. He reiterates an Outperform rating and $42 price target on Intrexon shares.
01/25/17
FBCO
01/25/17
INITIATION
Target $81
FBCO
Outperform
Dominion initiated with an Outperform at Credit Suisse
Credit Suisse analyst Michael Weinstein started Dominion with an Outperform rating and $81 price target.
SO Southern Company
$48.53

0.6 (1.25%)

07/10/17
MACQ
07/10/17
UPGRADE
Target $52
MACQ
Outperform
Southern Company upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Angie Storozynski "cautiously" upgraded Southern Company to Outperform citing discounted valuation and maintained a $52 price target on shares. The analyst said the company likely has equity issuances this quarter, asset write-downs, and continued nuclear capex, but views the $11% discounted valuation as compelling following containment of the Kemper "overhang."
08/01/17
SBSH
08/01/17
NO CHANGE
Target $60
SBSH
Buy
Scana decision a 'modest hit' to Fluor, says Citi
Citi analyst Andrew Kaplowitz views Scana's (SCG) decision to cease construction of the two new nuclear units at the V.C. Summer site in South Carolina as a "modest hit" to Fluor (FLR), which has been the construction contractor on site since early 2015. While not a good outcome for Fluor, the ultimate impact to the stock "should be fairly limited and contained," Kaplowitz tells investors in a research note. He notes that both Scana's V.C. Summer and Southern Company's (SO) Vogtle nuclear projects combined represented about $6.4B of Fluor's backlog at the end of Q1. He believes Scana's project was the slightly smaller of the two, and estimates Fluor is looking at a 15c hit to annual earnings and will be faced with having to take about $3B out of backlog. Kaplowitz has a Buy rating on Fluor with a $60 price target.
08/01/17
08/01/17
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. Rockwell Collins (COL) upgraded to Buy from Hold at Canaccord with analyst Ken Herbert saying the selloff when Boeing (BA) said it would establish an avionics unit that could eventually bring more work in-house. 2. American Airlines (AAL) and Spirit Airlines (SAVE) were upgraded to Overweight from Neutral at JPMorgan. 3. Cabot Oil & Gas (COG) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Drew Venker saying Cabot offers "excellent" risk/reward in a volatile oil/gas price environment and said downside is limited from lower gas prices, due to a strong balance sheet and free cash flow. 4. Southern Company (SO) upgraded to Buy from Hold at Deutsche Bank with analyst Jonathan Arnold citing news that Scana (SCG) plans to abandon its two new nuclear units at the V.C. Summer site in South Carolina. 5. National Grid (NGG) upgraded to Buy from Hold at Berenberg with analyst Andrew Fisher citing the selloff in shares which creates favorable risk/reward. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/01/17
DBAB
08/01/17
UPGRADE
Target $52
DBAB
Buy
Southern Company upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Jonathan Arnold upgraded Southern Company (SO) to Buy and raised his price target for the shares to $52 from $50 following news that Scana (SCG) plans to abandon its two new nuclear units at the V.C. Summer site in South Carolina. The shares now offer a "sufficiently attractive risk/reward" despite the "still-complicated story" around the company's two megaprojects, Kemper and Vogtle, Arnold tells investors in a research note. Following Scana's press release, the analyst thinks incremental costs to complete Vogtle, which Southern Company is continuing to evaluate, "may not be as dramatic as some fears."
HUM Humana
$230.77

-0.43 (-0.19%)

06/28/17
SBSH
06/28/17
INITIATION
Target $275
SBSH
Buy
Humana initiated with a Buy at Citi
Citi analyst Ralph Giacobbe started Humana with a Buy rating and $275 price target. The company has built a "strong and coveted" Medicare Advantage franchise that should deliver "strong" growth, the analyst contends. He also believes a potential takeout will provide valuation support.
07/13/17
FBCO
07/13/17
NO CHANGE
Target $250
FBCO
Outperform
Humana price target raised to $250 from $245 at Credit Suisse
Credit Suisse analyst Scott Fidel raised his price target for Humana to $250 from $245 ahead of Q2 results. He reiterates an Outperform rating on the shares.
06/28/17
06/28/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Altaba (AABA) initiated with an Overweight at JPMorgan. 2. Aetna (AET) and Humana (HUM) were initiated with a Buy at Citi. The firm also added Aetna to its Focus List. 3. CVS Health (CVS) and Walgreens Boots Alliance (WBA) were initiated with a Hold at Needham. 4. Oaktree Capital (OAK) initiated with a Hold at Jefferies. 5. General Motors (GM) resumed with an Overweight 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.
06/23/17
LEER
06/23/17
NO CHANGE
LEER
Outperform
Draft version of Senate healthcare bill better than expected, says Leerink
Leerink analyst Ana Gupte said she views the draft version of the Senate healthcare bill as better than expected, stating that stabilization of the Exchanges and risk stabilization is a direct positive for health insurers and indirect positive for facility operators. The Senate bill maintains the House bill's plan to repeal all "ObamaCare" industry fees and taxes, which is a positive for Managed Care and Medical Technology players, Gupte adds. She keeps Outperform ratings on Anthem (ANTM), UnitedHealth (UNH), Cigna (CI), Humana (HUM), WellCare (WCG), Molina Healthcare (MOH) and acute care hospital operators HCA Holdings (HCA), Tenet (THC) and LifePoint (LPNT).
FIS FIS
$91.87

0.65 (0.71%)

05/03/17
COMP
05/03/17
DOWNGRADE
Target $83
COMP
Neutral
FIS downgraded to Neutral from Buy at Compass Point
As previously reported, Compass Point downgraded FIS to Neutral from Buy and lowered its price target to $83 from $86. Analyst John Williams said his thesis is played out, shares lack near-term catalysts, and valuation appears full.
07/19/17
WEDB
07/19/17
NO CHANGE
WEDB
Visa, Cognizant added to Best Ideas List, FIS removed at Wedbush
Pre-open, Wedbush added Visa (V) and Cognizant (CTSH) to the Best Ideas List, and removed FIS (FIS) . Analyst Moshe Katri believes Cognizant digital revenue mix is 600 bps higher than reported, placing it as a top digital player among Tier 1 peers, which should provide incremental revenue growth and shield it from pricing compression in the legacy business. Katri thinks Visa's cost synergies from VE integration will prove conservative given Visa's knowledge of the business model and substantial pricing differential between VE and MasterCard (MA), as Visa continues to renew VE's book of business. Finally, the firm's research department removed FIS primarly due to lack of near-term catalysts.
07/13/17
OPCO
07/13/17
NO CHANGE
Target $96
OPCO
Outperform
FIS price target raised to $96 from $90 at Oppenheimer
Oppenheimer analyst Glenn Greene raised his price target for FIS to $96 from $90 ahead of Q2 results, saying he remains encouraged by its growth, margin expansion, and earnings prospects. The analyst reiterates an Outperform rating on the shares.
05/03/17
OPCO
05/03/17
NO CHANGE
Target $90
OPCO
Outperform
FIS price target raised to $90 from $85 at Oppenheimer
Oppenheimer analyst Glenn Greene raised his price target for FIS to $90 from $85 following relatively mixed Q1 results, and as margins surprise to upside again. The analyst believes FIS's core IFS business remains healthy, GFS's growth/profitability profile is significantly improved, the demand environment appears stable, and deal/pipeline activity remains solid. He reiterates an Outperform rating on the shares.
CAH Cardinal Health
$77.33

0.07 (0.09%)

05/17/17
JEFF
05/17/17
INITIATION
Target $77
JEFF
Hold
Cardinal Health initiated with a Hold at Jefferies
Jefferies analyst Brian Tanquilut started Cardinal Health with a Hold rating and $77 price target. Management's recent guidance cut "has put the stock in the investor penalty box" until signs of abating generic pricing pressure emerge, the analyst contends.
07/13/17
FBCO
07/13/17
NO CHANGE
Target $87
FBCO
Outperform
Cardinal Health price target raised to $87 from $81 at Credit Suisse
Credit Suisse analyst Erin Wilson Wright raised her price target for Cardinal Health to $87 from $81 given the company's recent acquisition of Medtronic's patient recovery business. The analyst reiterates an Outperform rating on the shares.
05/17/17
05/17/17
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. CoreSite Realty (COR) initiated with a Market Perform at Wells Fargo. 2. Acceleron (XLRN) initiated with a Sell at Goldman Sachs. 3. Cardinal Health (CAH) initiated with a Hold at Jefferies. 4. Concho Resources (CXO) assumed with an Overweight at Piper Jaffray. 5. Triangle Capital (TCAP) initiated with a Buy at Wunderlich. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/03/17
BARD
07/03/17
NO CHANGE
Target $75
BARD
Neutral
Cardinal Health confirms deal to buy Liberty Medical, says Baird
Baird analyst Eric Coldwell said that Cardinal Health has confirmed a deal to buy Liberty Medical, a direct-to-patient provider of diabetes supplies and products that is well known for its commercials featuring actor Wilford Brimley. The small deal, which is immaterial to his model, enhances Cardinal's direct-to-patient platform primarily in diabetes and likely also adds volume in ostomy and urology, Coldwell tells investors. He keeps a Neutral rating and $75 price target on Cardinal Health shares.
TAP Molson Coors
$89.19

0.21 (0.24%)

05/04/17
05/04/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Garmin (GRMN) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation and less likelihood for upside surprises throughout the remainder of 2017 due to tough comparisons. The analyst lowered his price target for the shares to $50 from $55. 2. Square (SQ) downgraded to Neutral from Buy at Guggenheim with the firm citing valuation and maintained a $20 price target on shares. 3. Tractor Supply (TSCO) downgraded to Perform from Outperform at Oppenheimer with analyst Brian Nagel citing concerns about the company's "modest" earnings growth could drive multiple contraction. The analyst thinks a guidance cut is likely when Tractor reports second quarter results in July. 4. Molson Coors (TAP) downgraded to Hold from Buy at Societe Generale with analyst Andrew Holland saying investments will impact margins. 5. MEDNAX (MD) downgraded two notches to Underperform from Buy at BofA/Merrill with the firm's analyst citing concerns cost pressures and worsening top line trends. The analyst lowered its price target to $57 from $75. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/04/17
FBCO
05/04/17
NO CHANGE
Target $95
FBCO
Neutral
Molson Coors price target lowered to $95 from $106 at Credit Suisse
Credit Suisse analyst Credit Suisse lowered his price target for Molson Coors to $95 from $106 after Q1 results disappointed investors as sales were broadly in line but EBITDA declined nearly 4% due to an unexpected spike in MG&A costs that management said was attributed to "investing ahead of the curve." The analyst reiterates a Neutral rating on the shares.
05/04/17
SOCG
05/04/17
DOWNGRADE
Target $98
SOCG
Hold
Molson Coors downgraded to Hold, 2017 a transition year, says Societe Generale
Soceite General analyst Andrew Holland downgraded Molson Coors to Hold from Buy and lowered its price target to $98 from $117 saying investments will impact margins. Molson's CEO said 2017 is a "transition" year as the company invests in several areas that should improve competitiveness, but will largely offset the cost savings from the Miller integration, the analyst believes. Holland cut Molson earnings estimates to reflect the increased spend and said concerns over US trade and Mexico and Ingredion's performance are concerning.
VMC Vulcan Materials
$119.20

-3.92 (-3.18%)

03/29/17
SBSH
03/29/17
INITIATION
Target $140
SBSH
Buy
Vulcan Materials initiated with a Buy at Citi
Citi analyst Scott Schrier started Martin Vulcan Materials with a Buy rating and $140 price target. The analyst is "encouraged by the approaching ramp-up in infrastructure spending."
05/10/17
RHCO
05/10/17
NO CHANGE
RHCO
Vulcan Materials Q1 EBITDA likely to beat expectations, says SunTrust
SunTrust analyst Rohit Seth expects Vulcan's Q1 EBTIDA to come in at $159M, versus the consensus outlook of $143M. The analyst says that the company may have been hurt by rainy weather in California, but he still expects its Q1 EBITDA to exceed the consensus outlook. He keeps a $141 price target and a Buy rating on the shares.
03/30/17
03/30/17
NO CHANGE

SunTrust sees multiple 'winners' from CA transportation bill
SunTrust analyst Rohit Seth predicts that Vulcan Materials (VMC), Forterra (FRTA), and U.S. Concrete (USCR) will be the "winners" of the $52.4B California transportation bill announced yesterday. The analyst estimates that 80% of new spending could benefit concrete makers, and he identifies Vulcan Materials as the biggest winner. He estimates that the bill could boost the company's revenue by 3.5% and raise its adjusted EBTIDA by 7%. He keeps Buy ratings on all three stocks.
03/30/17
SBSH
03/30/17
NO CHANGE
Target $140
SBSH
Buy
Citi 'cautiously optimistic' on new California transportation bill
Citi analyst Scott Schrier notes California governor Jerry Brown yesterday joined with Senate President pro Tempore Kevin de Leon and Assembly Speaker Anthony Rendon to announce a transportation bill to address infrastructure spending needs in the state. The Road Repair and Accountability Act of 2017 invests $52B over the next decade, split evenly between state and local investments, Schrier tells investors in a research note. The analyst notes that California is Vulcan Materials' second largest state. Schrier is "cautiously optimistic" that the measure can move forward since Senator Beall originally introduced a transportation bill in 2015, which ultimately did not pass. He has a Buy rating on Vulcan with a $140 price target.
QSR Restaurant Brands
$59.25

-0.33 (-0.55%)

07/12/17
NOMU
07/12/17
INITIATION
Target $73
NOMU
Buy
Restaurant Brands initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Mark Kalinowski initiated Restaurant Brands with a Buy and a $73 price target due to its strong long-term unit growth across a diverse brand portfolio is under-appreciated by the market. The analyst expects G&A savings at Popeyes, mobile app rollouts in 4-8 months, and an reacceleration in same-store-sales.
06/14/17
06/14/17
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. Oneok (OKE) upgraded to Buy from Neutral at UBS with analyst Shneur Gershuni saying the merger with Oneok Partners (OKS) will create an attractive 6% yield growing at around 10%. 2. ASML (ASML) upgraded to Buy from Neutral at Citi with analyst Amit Harchandani saying the valuation, with the stock under-performing semi peers year-to-date, has "turned supportive again." 3. Restaurant Brands (QSR) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Bittner saying the company's "accretive" cap-structure opportunities aren't appreciated while the recent Popeye's acquisition provides a tool to accelerate unit growth. 4. HCP (HCP) upgraded two notches, to Outperform from Underperform, at Raymond James. Analyst Jonathan Hughes is more constructive on HCP's attractive asset mix following an extensive transformation over the past year and said it now has the highest exposure among the Big Three Healthcare REITs to medical office buildings and life science assets and the lowest exposure to the more volatile senior housing operating sector. 5. Cheesecake Factory (CAKE) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson arguing that shares as oversold after yesterday's nearly 10% pullback following the company's downward revision of its comp guidance for the current quarter. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/14/17
OPCO
06/14/17
UPGRADE
Target $70
OPCO
Outperform
Restaurant Brands upgraded to Outperform from Perform at Oppenheimer
Oppenheimer analyst Brian Bittner upgraded Restaurant Brands to Outperform saying the company's "accretive" cap-structure opportunities aren't appreciated while the recent Popeye's acquisition provides a tool to accelerate unit growth. The analyst sees upside to 2018 earnings expectations and set a $70 price target for the shares.
06/14/17
OPCO
06/14/17
UPGRADE
OPCO
Outperform
Restaurant Brands upgraded to Outperform from Perform at Oppenheimer
AN AutoNation
$41.97

-0.41 (-0.97%)

02/06/17
02/06/17
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. AutoNation (AN) downgraded to Hold from Buy at Evercore ISI with analyst Michael Montani saying calendar year 2017 is shaping up to be an investment year and reduced estimates. The analyst said the AutoNation USA brand extension strategy means fewer franchised acquisitions and more pre-open expense for this year and next. 2. LabCorp (LH) downgraded to Neutral from Outperform at Baird with analyst Whit Mayo saying he is less convinced the company can grow earnings double digits in 2017, the current valuation is above historical averages, and he does not see an M&A deal that would meaningfully alter the risk/reward. 3. Tiffany (TIF) downgraded to Neutral from Buy at Mizuho and to Hold from Buy at HSBC. 4. CVS Health (CVS) downgraded to Neutral from Overweight at Atlantic Equities. 5. NVIDIA (NVDA) downgraded to Neutral from Buy at Roth Capital with analyst Brian Alger saying he "struggles" to articulate a valuation-driven for the stock meaningfully above current trading levels. Nonetheless, the analyst expects another "outstanding result" when the company announces earnings this week. He raised his price target on the shares to $120 from $95. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/20/17
03/20/17
NO CHANGE

Susquehanna cautious on auto dealers due to falling profits
Susquehanna analyst Ali Faghri said he was cautious on the auto dealers citing weak Q4 financial results as gross profits deteriorated, inventory levels have become elevated, and used car price declines are accelerating. Faghri favors Penske Automotive (PAG) and KarMax (KMX) due to their diverse business model but he sees a downside bias to Autonation (AN), Lithia Motors (LAD), and Group 1 Automotive. (GPI).
06/08/17
06/08/17
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. AutoNation (AN) upgraded to Buy from Neutral at Northcoast. 2. Kite Pharma (KITE) upgraded to Buy from Neutral at BTIG with analyst Dane Leone saying data from Novartis (NVS) and Juno (JUNO) have failed to deliver any recognizable differentiation, though Leone gives Kite "a clear win" for the manufacturing of Axi-Cel versus peers. 3. Infosys (INFY) upgraded to Buy from Hold at HSBC with analyst Yogesh Aggarwal citing "undemanding" valuation and low expectations. 4. DSW (DSW) upgraded to Neutral from Underperform at Cleveland Research. 5. BHP Billiton (BHP) upgraded to Buy from Neutral at UBS with analyst Glyn Lawcock citing its current valuation, attractive yield, and upcoming catalysts that include asset disposals, approval of the attractive Spence Growth Option, and expectations for a new chairman in the near-term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/17
NRCS
06/08/17
UPGRADE
NRCS
Buy
AutoNation upgraded to Buy from Neutral at Northcoast
PRTY Party City

10/25/16
GSCO
10/25/16
INITIATION
Target $17
GSCO
Neutral
Party City initiated with a Neutral at Goldman
Goldman analyst Stephen Tanal initiated Party City with a Neutral and a $17 price target citing fair valuation on a slower back half of earnings growth.
10/26/16
10/26/16
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. Mylan (MYL) initiated with a Buy at Mizuho. 2. Five Below (FIVE) initiated with a Buy at Longbow. 3. NetSuite (N) reinstated with an Underperform at BofA/Merrill. 4. Adient (ADNT) initiated with a Buy at Northcoast. 5. Party City (PRTY) initiated with a Neutral at Goldman. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/02/16
BMOC
11/02/16
INITIATION
Target $18
BMOC
Market Perform
Party City initiated with a Market Perform at BMO Capital
BMO Capital analyst Wayne Hood initiated Party City with a Market Perform and an $18 price target.

TODAY'S FREE FLY STORIES

JPM

JPMorgan

$97.99

0.37 (0.38%)

18:12
10/18/17
10/18
18:12
10/18/17
18:12
Hot Stocks
SEC names JPMorgan exec Redfearn Director of Division of Trading and Markets »

The Securities and…

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    Nov

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    Feb

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    Apr

  • 14

    Jul

  • 12

    Oct

VZ

Verizon

$48.65

0.25 (0.52%)

18:10
10/18/17
10/18
18:10
10/18/17
18:10
Periodicals
Verizon targets spring start of delayed online TV service, Bloomberg says »

Verizon web TV…

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  • 19

    Oct

  • 01

    Nov

STLD

Steel Dynamics

$36.44

0.27 (0.75%)

18:04
10/18/17
10/18
18:04
10/18/17
18:04
Hot Stocks
Steel Dynamics CEO optimistic conditions in place to benefit FY18 consumption »

CEO Mark Millet said:…

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  • 19

    Oct

CE

Celanese

$104.03

-0.24 (-0.23%)

18:03
10/18/17
10/18
18:03
10/18/17
18:03
Earnings
Celanese increases price for acetyls and engineered materials products »

Celanese will increase…

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STLD

Steel Dynamics

$36.44

0.27 (0.75%)

18:01
10/18/17
10/18
18:01
10/18/17
18:01
Earnings
Steel Dynamics reports Q3 ex-items EPS 66c, consensus 66c »

Reports Q3 revenue $2.4B,…

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  • 19

    Oct

OPTT

Ocean Power

$2.00

0.56 (38.89%)

17:59
10/18/17
10/18
17:59
10/18/17
17:59
Syndicate
Ocean Power files to sell common stock in 'best efforts' offering »

No amount was provided.…

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  • 20

    Oct

TOSBF

Toshiba, also use TOSYY

$3.02

-0.03 (-0.98%)

, TOSYY

Toshiba, also use TOSBF

$18.20

-0.11 (-0.60%)

17:58
10/18/17
10/18
17:58
10/18/17
17:58
Periodicals
Japan regulators probing Toshiba reporting practices for FY16/17, Nikkei says »

Japan's Securities…

TOSBF

Toshiba, also use TOSYY

$3.02

-0.03 (-0.98%)

TOSYY

Toshiba, also use TOSBF

$18.20

-0.11 (-0.60%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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PNW

Pinnacle West

$87.34

-0.42 (-0.48%)

17:53
10/18/17
10/18
17:53
10/18/17
17:53
Hot Stocks
Pinnacle West raises quarterly divided 6.1% to 69.5c per share »

Pinnacle West…

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  • 03

    Nov

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    Nov

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    Nov

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    Nov

GILD

Gilead

$80.01

-0.23 (-0.29%)

17:46
10/18/17
10/18
17:46
10/18/17
17:46
Hot Stocks
FDA grants regulatory approval to Kite's Yescarta »

Kite, a Gilead company,…

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  • 20

    Oct

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    Nov

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    Feb

POT

Potash

$19.24

0.08 (0.42%)

, AGU

Agrium

$107.73

0.55 (0.51%)

17:37
10/18/17
10/18
17:37
10/18/17
17:37
Hot Stocks
Potash, Agrium: India approves proposed merger of equals transaction »

Potash Corporation of…

POT

Potash

$19.24

0.08 (0.42%)

AGU

Agrium

$107.73

0.55 (0.51%)

03/08/13
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03/06/13
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03/06/13
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VMI

Valmont

$160.85

1.9 (1.20%)

17:36
10/18/17
10/18
17:36
10/18/17
17:36
Earnings
Valmont lowers FY17 adjusted EPS view to $6.90-$7.04 from $7.06, consensus $7.09 »

Annual guidance was…

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  • 19

    Oct

NVO

Novo Nordisk

$50.13

0.82 (1.66%)

17:36
10/18/17
10/18
17:36
10/18/17
17:36
Hot Stocks
Novo Nordisk receives positive 16-0 vote from FDA Advisory Committe »

Novo Nordisk announced…

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  • 18

    Oct

CHFS

CHF Solutions

$8.30

-0.69 (-7.68%)

17:35
10/18/17
10/18
17:35
10/18/17
17:35
Syndicate
Breaking Syndicate news story on CHF Solutions »

CHF Solutions files to…

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  • 06

    Nov

VTGN

VistaGen Therapeutics

$1.31

0.04 (3.15%)

17:33
10/18/17
10/18
17:33
10/18/17
17:33
Syndicate
Breaking Syndicate news story on VistaGen Therapeutics »

VistaGen Therapeutics…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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LLNW

Limelight Networks

$4.48

0.12 (2.75%)

, URI

United Rentals

$144.32

0.98 (0.68%)

17:32
10/18/17
10/18
17:32
10/18/17
17:32
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS:…

LLNW

Limelight Networks

$4.48

0.12 (2.75%)

URI

United Rentals

$144.32

0.98 (0.68%)

KMI

Kinder Morgan

$18.58

-0.1 (-0.54%)

ADBE

Adobe

$153.00

2.62 (1.74%)

CNAT

Conatus

$5.15

0.05 (0.98%)

EBAY

eBay

$37.97

0.48 (1.28%)

HXL

Hexcel

$58.94

0.39 (0.67%)

CCI

Crown Castle

$100.96

-0.42 (-0.41%)

ESTE

Earthstone Energy

$10.54

-0.15 (-1.40%)

PEGI

Pattern Energy

RXDX

Ignyta

$16.25

1.9 (13.24%)

HCA

HCA Healthcare

$77.45

0.63 (0.82%)

KLAC

KLA-Tencor

$108.09

0.08 (0.07%)

03/08/13
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    Oct

VMI

Valmont

$160.85

1.9 (1.20%)

17:31
10/18/17
10/18
17:31
10/18/17
17:31
Earnings
Valmont reports Q3 adjusted EPS $1.56, consensus $1.61 »

Reports Q3 revenue…

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  • 19

    Oct

AGEN

Agenus

$4.71

0.04 (0.86%)

17:31
10/18/17
10/18
17:31
10/18/17
17:31
Syndicate
Breaking Syndicate news story on Agenus »

Agenus files $250M mixed…

03/08/13
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  • 24

    Oct

PEGI

Pattern Energy

17:31
10/18/17
10/18
17:31
10/18/17
17:31
Hot Stocks
Pattern Energy sees Q3 operating loss greater than Q316 »

On October 18, Pattern…

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  • 19

    Oct

GE

General Electric

$23.12

-0.07 (-0.30%)

17:25
10/18/17
10/18
17:25
10/18/17
17:25
Periodicals
General Electric CEO cutting expenses, employees, WSJ reports »

General Electric's…

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  • 20

    Oct

UNB

Union Bankshares

$47.10

-0.8 (-1.67%)

17:20
10/18/17
10/18
17:20
10/18/17
17:20
Hot Stocks
Union Bankshares sees Q418 charge of $3.2M on plan termination »

On October 18, the board…

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OIS

Oil States

$23.75

-0.2 (-0.84%)

17:19
10/18/17
10/18
17:19
10/18/17
17:19
Earnings
Oil States lowers Q3 revenue view to $164M from $165M-$185M, consensus $177.77M »

Oil States anticipates…

03/08/13
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03/08/13
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03/06/13
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  • 27

    Oct

AXP

American Express

$92.08

0.39 (0.43%)

17:18
10/18/17
10/18
17:18
10/18/17
17:18
Hot Stocks
American Express says on track to cut $1B in costs by end of the year »

Says on track to cut $1B…

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  • 18

    Oct

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    Oct

  • 08

    Nov

OIS

Oil States

$23.75

-0.2 (-0.84%)

17:16
10/18/17
10/18
17:16
10/18/17
17:16
Hot Stocks
Breaking Hot Stocks news story on Oil States »

Oil States lowers Q3…

03/08/13
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03/08/13
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  • 27

    Oct

AXP

American Express

$92.08

0.39 (0.43%)

17:08
10/18/17
10/18
17:08
10/18/17
17:08
Hot Stocks
American Express says 'right time' for leadership transition »

Comments taken from Q3…

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  • 18

    Oct

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    Oct

  • 08

    Nov

APRN

Blue Apron

$5.30

-0.08 (-1.49%)

17:06
10/18/17
10/18
17:06
10/18/17
17:06
Hot Stocks
Blue Apron to cut roughly 6% of total workforce, inclur roughly $3.5M in expense »

Blue Apron said in a…

03/08/13
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  • 02

    Nov

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