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PB

Prosperity Bancshares

$65.35

-0.18 (-0.27%)

, CRVS

Corvus Pharmaceuticals

$11.84

-0.25 (-2.07%)

10:33
08/03/17
08/03
10:33
08/03/17
10:33

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Prosperity Bancshares (PB) initiated with an Overweight at Barclays. 2. Corvus Pharmaceuticals (CRVS) initiated with an Outperform at Wedbush. 3. Molecular Templates (MTEM) initiated with a Buy at Ladenburg. 4. PVH Corp. (PVH) reinstated with a Buy at BofA/Merrill. 5. Esquire Financial (ESQ) initiated with a Buy at Sandler O'Neill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

PB

Prosperity Bancshares

$65.35

-0.18 (-0.27%)

CRVS

Corvus Pharmaceuticals

$11.84

-0.25 (-2.07%)

MTEM

Molecular Templates

$5.50

4.96 (918.52%)

PVH

PVH Corp.

$120.51

0.78 (0.65%)

ESQ

Esquire Financial

$14.80

-0.09 (-0.60%)

  • 18

    Sep

PB Prosperity Bancshares
$65.35

-0.18 (-0.27%)

06/05/17
MSCO
06/05/17
UPGRADE
MSCO
Equal Weight
Prosperity Bancshares upgraded to Equal Weight from Underweight at Morgan Stanley
06/05/17
MSCO
06/05/17
UPGRADE
MSCO
Equal Weight
Prosperity Bancshares upgraded to Equal Weight on valuation at Morgan Stanley
As previously reported, Morgan Stanley upgraded Prosperity Bancshares to Equal Weight from Underweight. Analyst Ken Zerbe changed his view citing balanced risk/reward following a period of underperformance year-to-date.
06/05/17
MSCO
06/05/17
NO CHANGE
MSCO
Midcap Bank sector upgraded to In-Line at Morgan Stanley
Morgan Stanley analyst Ken Zerbe upgraded the Midcap Bank sector to In-Line from Cautious citing the group's underperformance year-to-date and better earnings from lower deposit betas. The firm's top picks are SVB Financial (SIVB), Signature Bank (SBNY), KeyBanc (KEY), and Citizens Financial (CFG). Note the analyst upgraded People's United (PBCT) and Prosperity Bancshares (PB) to Equal Weight citing valuations.
08/03/17
LEHM
08/03/17
INITIATION
Target $72
LEHM
Overweight
Prosperity Bancshares initiated with an Overweight at Barclays
Barclays analyst Matthew Keating started Prosperity Bancshares with an Overweight rating and $72 price target. The analyst sees the company benefiting from accelerating organic loan growth accelerating and a recovering Texas economy.
CRVS Corvus Pharmaceuticals
$11.84

-0.25 (-2.07%)

08/02/17
WEDB
08/02/17
INITIATION
Target $26
WEDB
Outperform
Corvus Pharmaceuticals initiated with an Outperform at Wedbush
Wedbush initiated Corvus Pharmaceuticals with an Outperform and a $26 price target.
08/03/17
WEDB
08/03/17
INITIATION
WEDB
Outperform
Corvus Pharmaceuticals initiated on positive strategy at Wedbush
As noted earlier, Wedbush started coverage of Corvus with a $26 price target and an Outperform rating. Analyst Robert Driscoll thinks that the company's "strategy of focusing on the majority of patients who do not initially...benefit from current immune checkpoint approaches will pay off as clinical data matures." The analyst says that the company's lead drug, CPI-444, "has demonstrated anti-tumor activity," and he thinks a second drug, CPI-444, is "differentiated" on tolerability.
05/01/17
FBCO
05/01/17
DOWNGRADE
Target $10
FBCO
Underperform
Corvus Pharmaceuticals downgraded to Underperform at Credit Suisse
Credit Suisse downgraded Corvus Pharmaceuticals to Underperform from Outperform due to "underwhelming" efficacy data that was presented at AACR earlier in April. The analyst lowered his market penetration assumptions in two indications to a peak of 20% in renal cell focus, 15% in 2L non-small cell lung cancer given less impactful data than he was expecting. He remains at a 35% probability of success for both indications.
04/05/17
COWN
04/05/17
NO CHANGE
COWN
Outperform
Corvus Pharmaceuticals risk/reward favorable heading into ASCO, says Cowen
Cowen analyst Boris Peaker noted Corvus Pharmaceuticals shares have sold off 50% following the release of initial Phase 1/1b data for its drug to treat advanced solid tumors. The analyst said RCC and NSLC cohort data show mono activity and combo synergy, which will provide a path forward. He now sees a favorable risk/reward heading into the ASCO meeting in June. Peaker reiterated his Outperform rating on Corvus Pharmaceuticals shares.
MTEM Molecular Templates
$5.50

4.96 (918.52%)

08/03/17
LTCO
08/03/17
INITIATION
Target $10
LTCO
Buy
Molecular Templates initiated with a Buy at Ladenburg
Ladenburg Thalmann analyst Kevin DeGeeter started Molecular Templates with a Buy rating and $10 price target. The analyst believes the company's Engineered Toxin Bodies platform offers a differentiated mechanism.
PVH PVH Corp.
$120.51

0.78 (0.65%)

07/17/17
BUCK
07/17/17
INITIATION
Target $127
BUCK
Buy
PVH Corp. assumed with a Buy at Buckingham
Buckingham analyst Eric Tracy assumed coverage of PVH Corp. with a Buy rating and $127 price target.
08/03/17
BOFA
08/03/17
INITIATION
Target $146
BOFA
Buy
PVH Corp. reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Heather Balsky resumed coverage on PVH Corp with a Buy and a $146 price target given strong international growth, further upside in North America if retail improves, and positive earnings revisions.
05/30/17
FBCO
05/30/17
UPGRADE
Target $136
FBCO
Outperform
PVH Corp. upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Christian Buss upgraded PVH Corp. to Outperform and raised his price target for the shares to $136 from $114. The company's international opportunity could add an incremental $2.1B in revenue and $3.00 in earnings per share, Buss tells investors in a research note. He sees international markets as de-risking softness in North America.
06/26/17
UBSW
06/26/17
NO CHANGE
Target $128
UBSW
Buy
PVH Corp. likely to raise guidance, says UBS
UBS analyst Michael Binetti met with PVH management and came away confident the company has the most visible path to double digit earnings growth in his coverage universe. He said trends are running ahead of plan, adding that he expects the company to raise guidance. He expects PVH to continue rolling up licenses and thinks the company is getting serious about acquiring another major brand. Binetti reiterated his Buy rating and raised his price target to $128 from $120 on PVH shares.
ESQ Esquire Financial
$14.80

-0.09 (-0.60%)

08/03/17
SDLR
08/03/17
INITIATION
Target $17
SDLR
Buy
Esquire Financial initiated with a Buy at Sandler O'Neill
Sandler O'Neill analyst Nicholas Cucharale initiated Esquire Financial with a Buy and a $17 price target saying it is poised for a ramp in profitability.

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M

Macy's

$21.07

0.44 (2.13%)

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Wal-Mart

$96.62

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$55.88

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BASF

$27.39

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Teva

$13.70

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CBS

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AFL

Aflac

$85.00

-0.05 (-0.06%)

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  • 01

    Dec

GBL

GAMCO Investors

, WTS

Watts Water

$72.65

0.15 (0.21%)

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WTS

Watts Water

$72.65

0.15 (0.21%)

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  • 04

    Dec

CC

Chemours

$53.31

0.45 (0.85%)

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  • 01

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AIMT

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$35.74

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  • 28

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$12.02

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General Motors

$44.47

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