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DWDP

DowDuPont

$70.29

0.265 (0.38%)

, LGF.A

Lionsgate

$30.34

0.2 (0.66%)

10:27
09/15/17
09/15
10:27
09/15/17
10:27

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. DowDuPont (DWDP) initiated with an Overweight at JPMorgan. 2. Lionsgate (LGF.A) initiated with an Outperform at FBN Securities. 3. Sage Therapeutics (SAGE) initiated on huge potential at RBC Capital. 4. Verifone (PAY) initiated with a Neutral at Citi. 5. Oclaro (OCLR) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

DWDP

DowDuPont

$70.29

0.265 (0.38%)

LGF.A

Lionsgate

$30.34

0.2 (0.66%)

SAGE

Sage Therapeutics

$64.85

-5.52 (-7.84%)

PAY

Verifone

OCLR

Oclaro

$8.77

-0.18 (-2.01%)

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DWDP DowDuPont
$70.29

0.265 (0.38%)

09/13/17
NOMU
09/13/17
NO CHANGE
Target $82
NOMU
Buy
DowDuPont price target raised to $82 from $77 at Nomura Instinet
Nomura Instinet analyst Aleksey Yefremov raised his price target for DowDuPont to $82 saying the company's plan to transfer $8B in sales from Materials Co. to Specialty Co. justifies a higher target multiple. The conclusion of the portfolio review and unanimous approval by the board signals that the risks of internal disagreements within the company has diminished considerably, Yefremov tells investors in a research note. He expects investor interest in DowDuPont to improve and keeps a Buy rating on the shares.
09/13/17
COWN
09/13/17
UPGRADE
Target $80
COWN
Outperform
DowDuPont upgraded to Outperform at Cowen
As reported previously, Cowen analyst Charles Neivert upgraded DowDuPont to Outperform as he believes the Specialty Products and Materials Science realignment is a major step in upgrading the eventual spinco earnings. He also likes that each segment can operate independently, which should provided an uplift in EBITDA from post synergy levels. Neivert raised his price target to $80 from $60 on DowDuPont shares.
09/13/17
09/13/17
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. Micron (MU) upgraded to Buy from Neutral at Goldman Sachs with analyst Mark Delaney saying DRAM pricing could rise in the fourth quarter and the cycle could remain tight in 2018. 2. DowDuPont (DWDP) upgraded to Outperform from Market Perform at Cowen with analyst Charles Neivert saying he believes the Specialty Products and Materials Science realignment is a major step in upgrading the eventual spinco earnings. 3. Finish Line (FINL) upgraded to Positive from Neutral at Susquehanna with analyst Sam Poser saying he gives the company a 75% probability of being bought out, with a 25% chance the stock falls to $8 as a standalone entity. 4. Lydall (LDL) upgraded to Buy from Neutral at Sidoti with analyst Edward Marshall citing expectation the company's offerings will outpace the automotive peers due to market penetration and concentration in the fibers segment. 5. SQM (SQM) upgraded to Buy from Neutral at BofA/Merrill and to Hold from Underperform at Santander. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/15/17
JPMS
09/15/17
INITIATION
Target $80
JPMS
Overweight
DowDuPont initiated with an Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas started DowDuPont with an Overweight rating and $80 price target. The analyst estimates the 2018 and 2019 free cash flow yields at 5.8% and 7.9%, respective, which he finds attractive.
LGF.A Lionsgate
$30.34

0.2 (0.66%)

06/27/17
06/27/17
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. JPMorgan analyst Alex Yao resumed coverage of Alibaba (BABA) Group with an Overweight rating and $190 price target following a period of restriction. The rating is unchanged and the price target is raised from $140. 2. SunTrust analyst Terry Tillman initiated Salesforce (CRM) with a Buy and a $110 price target and views its as a core holding for large-cap investors. 3. Citi analyst Joel Beatty started Arena Pharmaceuticals (ARNA) with a Buy rating and $23 price target. 4. Deutsche Bank analyst Bryan Kraft started Lionsgate Class A (LGF.A) shares with a Hold rating and $29 price target. 5. Cantor Fitzgerald analyst Louise Chen assumed coverage of Amarin (AMRN) with an Overweight rating and $10 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/21/17
07/21/17
NO CHANGE

Lionsgate price target raised to $36 from $29 at Loop Capital
Loop Capital analyst David Miller said that while Lionsgate shares have grinded higher as the company "continues to do what it has always done very well," he also has confidence that it is well ahead of plan on Starz synergies and that it has potential from "second-window" sales of streaming rights and orders from OTT platforms. Miller raised his price target on Lionsgate B shares to $36 from $29 and keeps a Buy rating on the name.
08/30/17
08/30/17
NO CHANGE
Target $35

Overweight
Lionsgate shares remain attractive, says Piper Jaffray
After analyzing the company's film studio, Piper Jaffray analyst Stan Meyers says shares of Lionsgate remain attractive for a "fast growing studio" with expanding margins and solid free cash flow generation. The analyst remains upbeat on the company as Starz transitions into a growth story and it continues to deliver high quality TV content while "systematically assembling a de-risked, diversified film slate." Meyers' base case scenario points to a $35 valuation, which is his price target, $26 in the bear case and $40 in the bull case. He keeps an Overweight rating on Lionsgate.
09/15/17
FBNS
09/15/17
INITIATION
Target $37.71
FBNS
Outperform
Lionsgate initiated with an Outperform at FBN Securities
FBN Securities analyst Robert Routh started Lionsgate with an Outperform rating and $37.71 current fair value estimate, which represents upside of 26.8%. The company has proven it can adapt to an "ever-changing landscape" and recent deals, such as the acquisition of Starz, positions Lionsgate well for "predictable and sustainable" growth moving forward, the analyst contends.
SAGE Sage Therapeutics
$64.85

-5.52 (-7.84%)

09/14/17
BMOC
09/14/17
NO CHANGE
BMOC
Sage Therapeutics price target lowered to $80 from $84 at BMO Capital
After Sage's Brexanolone drug missed the primary and secondary endpoints of its Phase 3 trial involving Super-Refractory Status Epilepticus, or SRSE, patients, BMO Capital analyst Gary Nachman no longer expects the drug to be used as a treatment for SRSE at all. However, he significantly raised his estimates for the revenue that the drug will generate as a treatment for post-partum depression and major depressive disorder. The analyst trimmed his price target on Sage to $80 from $84 but keeps an Outperform rating on the shares.
09/14/17
RBCM
09/14/17
INITIATION
Target $117
RBCM
Outperform
Sage Therapeutics initiated with an Outperform at RBC Capital
RBC Capital analyst Brian Abrahams started Sage Therapeutics with an Outperform rating and $117 price target.
09/15/17
RBCM
09/15/17
INITIATION
RBCM
Outperform
Sage Therapeutics initiated on huge potential at RBC Capital
As noted earlier, RBC Capital started coverage of Sage with a $117 price target and an Outperform rating. Analyst Brian Abraham identified the company as one of his favorite small/mid-cap biotech names. The analyst says that it "could emerge as the next high-profile, high-opportunity mid-cap biotech," and he believes that it has reached a good entry point ahead of upcoming data.
09/13/17
09/13/17
NO CHANGE

Needham still upbeat on Sage Therapeutics after endpoint miss
After Sage's Brexanolone drug missed the primary and secondary endpoints of its Phase 3 trial involving Super-Refractory Status Epilepticus, or SRSE, patients, Needham analyst Danielle Brill says the results do not impact her view of the drug's efficacy in post-partum depression, or PPD,. She says that PPD is much easier to treat than SRSE, while the drug;s mechanism of action is different in PPD versus SRSE. The analyst notes that the drug demonstrated that it lowered PPD by statistically significant amounts in a previous trial. She cut her price target on the stock to $86 from $95 but keeps a Buy rating on the shares.
PAY Verifone

09/06/17
09/06/17
DOWNGRADE

Neutral
Verifone downgraded to Neutral on reduced confidence at Northcoast
As previously reported, Northcoast downgraded Verifone to Neutral from Buy. Analyst Keith Housum has reduced confidence in the company's ability to grow revenues and increase profitability given the delay in reaching the point of sale market with its new Carbon and Engage platform compared to initial expectations. The analyst said the downgrade is not a call on the quarter, but on the long-term thesis of increasing difficulty for Verifone to return to a satisfactory growth trajectory, combined with losing market share for payment terminals, and increased competition.
09/12/17
BOFA
09/12/17
INITIATION
Target $19
BOFA
Underperform
Verifone initiated with an Underperform at BofA/Merrill
BofA/Merrill analyst Jason Kupferberg initiated Verifone with an Underperform and a $19 price target.
09/15/17
SBSH
09/15/17
INITIATION
Target $23
SBSH
Neutral
Verifone initiated with a Neutral at Citi
Citi analyst Peter Christiansen started Verifone Systems with a Neutral rating and $23 price target. The analyst thinks investors want more signs that the company is "emerging as a distinguishable platform provider" before seeing the stock as a primary beneficiary of secular tailwinds in the payments arena.
09/06/17
09/06/17
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. HP Enterprise (HPE) downgraded to Underperform from Neutral at BofA/Merrill with analyst Wamsi Mohan citing fiscal 2018 headwinds that include increased investment, a competitive pricing environment, and higher commodity costs. 2. Marathon Petroleum (MPC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Roger Read saying he now expects the incentive distribution rights buyout may be at the lower end of the prior 15-20 times range. 3. Verifone (PAY) downgraded to Neutral from Buy at Northcoast with analyst Keith Housum saying he has reduced confidence in the company's ability to grow revenues and increase profitability given the delay in reaching the point of sale market with its new Carbon and Engage platform compared to initial expectations. 4. Mallinckrodt (MNK) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying he believes yesterday's unfavorable district court ruling in Mallinckrodt's suit against Praxair (PX) has increased the risk of an Inomax generic potentially as soon as October 2018, compared to his prior expectation of 2031. 5. BHP Billiton (BHP) downgraded to Underperform from Neutral at Exane BNP Paribas. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
OCLR Oclaro
$8.77

-0.18 (-2.01%)

09/15/17
RAJA
09/15/17
INITIATION
Target $12
RAJA
Strong Buy
Oclaro initiated with a Strong Buy, high speed optics leader at Raymond James
Raymond James analyst Simon Leopold initiated Oclaro with a Strong Buy and a $12 price target saying it is a leader in high speed optics primarily for telco and enterprises with expansion in the web scale vertical. The analyst sees meaningful upside to shares, double digit sales growth, and gross margins remaining above historical levels.
09/14/17
RAJA
09/14/17
INITIATION
Target $12
RAJA
Strong Buy
Oclaro initiated with a Strong Buy at Raymond James
Raymond James initiated Oclaro with a Strong Buy and a $12 price target.
09/05/17
STFL
09/05/17
NO CHANGE
Target $30
STFL
Buy
Finisar estimates lowered following peer commentary at Stifel
Stifel analyst Patrick Newton has lowered his FY18 and FY19 estimates for Finisar (FNSR) and is now modeling one more step down in China following recent commentary from competitors such as Lumentum (LITE), Oclaro (OCLR) and MACOM (MTSI) indicating that China is expected to decline again sequentially in the September quarter. Based on the reduced expectations, he lowered his price target on Finisar shares to $30 from $33, but he maintains a Buy rating on the stock.
08/24/17
STFL
08/24/17
NO CHANGE
STFL
China Mobile tender positive for optical industry, says Stifel
After China Mobile (CHL) released a tender for about 42,200 WDM/OTN device boards and ports, Stifel analyst Patrick Newton says the news are a positive for the optical industry, particularly for investor sentiment. The analyst believes the China Mobile tender is indicative of a thawing in metro tenders and deployments in China, which should eventually bode positively for those exposed to China, specifically Oclaro (OCLR), Lumentum (LITE), and Finisar (FNSR). Nonetheless, Newton continues to see a challenging environment in China, but hopes the September quarter will represent a bottom for fundamentals.

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Atkore

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NOC

Northrop Grumman

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GD

General Dynamics

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AAN

Aaron's

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