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USFD

US Foods

$28.47

0.08 (0.28%)

, SYY

Sysco

$52.48

0.15 (0.29%)

07:42
08/08/17
08/08
07:42
08/08/17
07:42

Food distributors outlook positive into June quarter results, says Wells Fargo

Wells Fargo says that sentiment on the food distributors has deteriorated due to worries about inflation and Amazon's (AMZN)possible entry into the space. However, the firm thinks that inflation is "a net positive" for the sector, while the three largest companies in the sector look set to benefit from share gains and M&A accretion. Wells is most upbeat on US Foods (USFD)and Sysco (SYY), citing reductions in their valuation and their efforts to increase volume and margins. Wells thinks the stocks have reached attractive entry points as it believes that investors are exaggerating the Amazon threat. It keeps Outperform ratings on US Foods and Sysco.

USFD

US Foods

$28.47

0.08 (0.28%)

SYY

Sysco

$52.48

0.15 (0.29%)

AMZN

Amazon.com

$992.27

4.69 (0.47%)

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USFD US Foods
$28.47

0.08 (0.28%)

05/16/17
FBCO
05/16/17
NO CHANGE
Target $35
FBCO
Outperform
US Foods added to U.S. Focus List at Credit Suisse
Credit Suisse analyst reinstated coverage of US Foods with an Outperform rating and raised his price target to $35 from $32, saying that the company's Q1 results illustrate that its momentum remains strong and that its cash return potential is underappreciated. The firm also added US Foods to its US Focus List.
06/07/17
FBCO
06/07/17
NO CHANGE
FBCO
US Foods removed from U.S. Focus List at Credit Suisse
Credit Suisse removed U.S. Foods from its U.S. Focus List citing the departure of the primary analyst.
06/16/17
RBCM
06/16/17
NO CHANGE
RBCM
Amazon deal shouldn't directly hurt foodservice distributors, says RBC Capital
RBC Capital said Amazon's (AMZN) deal for Whole Foods (WFM) should not have a direct negative impact on foodservice distributors such as Sysco (SYY), US Foods (USFD) and Performance Food Group (PFGC), noting that there is not enough dock space at Whole Foods to help the e-commerce giant service restaurant needs, though they do acknowledge that combo may take a "small share" from restaurant occasions.
06/26/17
GUGG
06/26/17
NO CHANGE
GUGG
Food distributor decline 'seems overdone,' says Guggenheim
Guggenheim analyst John Heinbickel says that the decline of food distributors in the wake of Amazon's (AMZN) acquisition of Whole Foods (WFM) "seems overdone." The analyst thinks the notion that Amazon will look to enter the food distribution business is "highly unlikely...especially in the near to intermediate term". He says that such an initiative would require "a separate, dedicated supply chain as well as a field-level sales force," both of which would be "challenging" to launch. The analyst adds that customers in the sector have "inertia," especially vis-a-vis fresh food. He recommends buying food distributors Performance Food Group (PFGC) and US Foods (USFD) on weakness.
SYY Sysco
$52.48

0.15 (0.29%)

05/15/17
LOOP
05/15/17
INITIATION
Target $61
LOOP
Buy
Sysco initiated with a Buy at Loop Capital
Loop Capital analyst Andrew Wolf initiated Sysco with a Buy rating and $61 price target, noting that his 2017 and 2018 profit forecasts are above consensus and expressing a positive view on the company's strategic focus on boosting returns on existing assets.
06/26/17
BOFA
06/26/17
NO CHANGE
BOFA
Sysco pullback on Amazon concerns overdone, says BofA/Merrill
BofA/Merrill analyst Marisa Sullivan said the pullback in Sysco (SYY) shares following the Amazon.com (AMZN) merger announcement with Whole Foods (WFM) is overdone and provides an attractive buying opportunity. The analyst said B2B food service distribution is more complex than retail and requires a differentiated network and notes many independent customers use Sysco and other large distributors for the value-added products and services offered. Further, Sysco has scale advantages that would be costly and difficult to replicate such as high operational efficiencies and customer density, Sullivan wrote.
06/23/17
JPMS
06/23/17
NO CHANGE
Target $57
JPMS
Overweight
Sysco removed from Analyst Focus List at JPMorgan
JPMorgan analyst John Ivankoe removed Sysco (SYY) from the firm's Analyst Focus List, citing increased risk that Amazon (AMZN) becomes a disruptor to the foodservice distribution industry following its deal to buy Whole Foods. However, Ivankoe keeps an Overweight rating and $57 price target on Sysco shares.
AMZN Amazon.com
$992.27

4.69 (0.47%)

08/04/17
CHLM
08/04/17
NO CHANGE
Target $95
CHLM
Buy
Applied Optoelectronics selloff a buying opportunity, says Craig-Hallum
Craig-Hallum analyst Richard Shannon attributes Applied Optoelectronics' soft Q3 guidance to lower 40G sales, likely at Amazon (AMZN), though he noted that its Q3 gross margin guidance of 43.0-44.5% was still "quite strong." While the transition to 100G from 40G hurts near term, Shannon thinks Applied is getting 100G share at Amazon, he tells investors, adding that the company appears to be establishing a strong position in CWDM4 modules. He thinks Applied can gain share if it executes, which he notes it has done in the past, and he maintains his Buy rating and $95 target on the stock, which has plunged in pre-market trading after its report and guidance last night.
08/07/17
COWN
08/07/17
NO CHANGE
Target $86
COWN
Outperform
Cowen continues to favor Wal-Mart over Target despite turnaround progress
Cowen analyst Oliver Chen said Target's (TGT) positive pre-announcement and Wal-Mart's (WMT) momentum give him confidence about Q2, but his firm's proprietary survey indicates cautious trends in the quarter, including declines in visitor rates, declines in satisfaction, and growth in visitor overlap with Amazon (AMZN). While acknowledging that Target's turnaround remains on track, he said he still prefers Wal-Mart shares. Chen maintains his Outperform rating and $86 price target on Wal-Mart shares and his Market Perform rating on Target shares.
08/07/17
TIGR
08/07/17
DOWNGRADE
TIGR
Neutral
Whole Foods downgraded to Neutral from Buy at Tigress Financial
Tigress Financial analyst Ivan Feinseth downgraded Whole Foods Market (WFM) saying he sees no other takeover bids emerging to rival Amazon.com's (AMZN).
08/07/17
MZHO
08/07/17
INITIATION
Target $1250
MZHO
Buy
Amazon.com reinstated with a Buy at Mizuho
Mizuho analyst James Lee reinstated Amazon with a Buy and a $1,250 price target.

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AET

Aetna

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NKE

Nike

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0.75 (0.89%)

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EZPW

Ezcorp

$10.58

0.075 (0.71%)

14:45
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Conference/Events
Ezcorp management to meet with Jefferies »

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CNDT

Conduent

$22.30

0.12 (0.54%)

14:37
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Conduent management to meet with Jefferies »

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INTC

Intel

$46.14

-0.77 (-1.64%)

, ADI

Analog Devices

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-2.19 (-2.31%)

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INTC

Intel

$46.14

-0.77 (-1.64%)

ADI

Analog Devices

$92.82

-2.19 (-2.31%)

MCHP

Microchip

$79.10

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ON

ON Semiconductor

$18.44

-0.665 (-3.48%)

MPWR

Monolithic Power

$129.88

-2.99 (-2.25%)

AMD

AMD

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-0.03 (-0.09%)

NVDA

Nvidia

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2.33 (0.88%)

QCOM

Qualcomm

$73.16

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SIMO

Silicon Motion

$54.13

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MXIM

Maxim Integrated

$58.13

-1.61 (-2.70%)

TXN

Texas Instruments

$107.78

-2.03 (-1.85%)

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BRC

Brady

$44.20

0.15 (0.34%)

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IBTX

Independent Bank

$67.05

(0.00%)

, GBNK

Guaranty Bancorp

$29.95

(0.00%)

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Conference/Events
Guaranty Bancorp to host special shareholder meeting »

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Independent Bank

$67.05

(0.00%)

GBNK

Guaranty Bancorp

$29.95

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14:20
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General news
FOMC began its 2-day meeting and will announce its decision at 14 ET Wednesday »

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CRM

Salesforce

$158.62

-0.235 (-0.15%)

, AAPL

Apple

$222.01

1.22 (0.55%)

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Salesforce

$158.62

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AAPL

Apple

$222.01

1.22 (0.55%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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ATRS

Antares Pharma

$3.47

0.175 (5.31%)

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FB

Facebook

$165.12

-0.285 (-0.17%)

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PAYX

Paychex

$73.06

-1.5 (-2.01%)

, ADP

ADP

$147.62

-1.5 (-1.01%)

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Recommendations
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PAYX

Paychex

$73.06

-1.5 (-2.01%)

ADP

ADP

$147.62

-1.5 (-1.01%)

SQ

Square

$94.22

8.16 (9.48%)

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NTES

NetEase

$214.55

4.41 (2.10%)

14:00
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Upgrade
NetEase rating change  »

Follow-up: NetEase…

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ADP

ADP

$147.41

-1.71 (-1.15%)

13:55
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Options
ADP put volume heavy and directionally bearish »

Bearish flow noted in ADP…

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GTS

Triple-S

$20.33

-0.7 (-3.33%)

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NTES

NetEase

$214.61

4.47 (2.13%)

13:47
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SPOT

Spotify

$182.29

5.41 (3.06%)

, GOOG

Alphabet

$1,184.00

10.62 (0.91%)

13:46
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13:46
Periodicals
Spotify asks EU for stronger regulations against U.S. rivals, Reuters reports »

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SPOT

Spotify

$182.29

5.41 (3.06%)

GOOG

Alphabet

$1,184.00

10.62 (0.91%)

GOOGL

Alphabet Class A

$1,192.91

13.13 (1.11%)

AMZN

Amazon.com

$1,957.44

22.94 (1.19%)

EBAY

eBay

$32.72

-1 (-2.97%)

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HIMX

Himax

$5.87

-0.03 (-0.51%)

13:45
09/25/18
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Options
Himax call volume above normal and directionally bullish »

Bullish option flow…

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13:45
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General news
FOMC Forecast revisions »

FOMC Forecast revisions…

SHOP

Shopify

$163.33

1.06 (0.65%)

, AMZN

Amazon.com

$1,957.00

22.5 (1.16%)

13:43
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13:43
Periodicals
Shopify CEO welcomes competition from Amazon, Bloomberg reports »

Shopify's (SHOP) CEO…

SHOP

Shopify

$163.33

1.06 (0.65%)

AMZN

Amazon.com

$1,957.00

22.5 (1.16%)

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CHRS

Coherus Biosciences

$16.35

0.3 (1.87%)

13:40
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09/25
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Coherus Biosciences receives European Commission approval for UDENYCA »

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LMT

Lockheed Martin

$344.92

7.27 (2.15%)

13:36
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09/25
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13:36
Hot Stocks
U.S. Army awards Lockheed Martin $289M HIMARS contract »

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