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NOC

Northrop Grumman

$267.03

1.34 (0.50%)

, OA

Orbital ATK

$110.04

1.65 (1.52%)

20:02
09/17/17
09/17
20:02
09/17/17
20:02

On The Fly: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Northrop Grumman (NOC) is said to be nearing a purchase of Orbital ATK (OA), a deal that could be worth more than $7.5B, according to The Wall Street Journal, citing people familiar with the matter. A deal could be announced as soon as Monday, sources said. 2. The National Highway Traffic Safety Administration has taken an interim step toward prompting the recall of 1.3M 2011-2017 Ford (F) Explorers, including 2016-2017 Explorer Police Interceptor models, according to Bloomberg. This comes over a year after the NHTSA first started looking into odors and exhaust issues in the vehicles, the publication noted. 3. Goldman Sachs (GS) is rarely thought of as an underdog, but it might be right now, Ben Levisohn wrote in this week's edition of Barron's. Goldman's decline is a result of its own missteps, Levisohn noted, adding that if it can correct its problems, its stock may be able to close the performance gap with its peers. 4. New Line Cinema and Warner Bros. (TWX) horror movie "It" declined a scant 51% to $60M in its second weekend, the biggest sophomore outing ever for the genre. Overseas, The R-rated film adaption of Stephen King's novel grossed $60.3M in its second weekend from 56 markets for a foreign tally of $152.6M and a stunning $371.3M worldwide. 5. Align Technology (ALGN), Analog Services (ADI), Caterpillar (CAT), E-Trade Financial (ETFC), Red Hat (RHT), Cullen/Frost (CFR), and Affiliated Managers (AMG) saw positive mentions in Barron's, while FedEx (FDX) was mentioned cautiously.

NOC

Northrop Grumman

$267.03

1.34 (0.50%)

OA

Orbital ATK

$110.04

1.65 (1.52%)

F

Ford

$11.62

0.06 (0.52%)

GS

Goldman Sachs

$225.22

-1.63 (-0.72%)

TWX

Acquired by T

$101.87

0.86 (0.85%)

ALGN

Align Technology

$184.50

-0.36 (-0.19%)

ADI

Analog Devices

$83.84

1.5 (1.82%)

CAT

Caterpillar

$121.37

0.89 (0.74%)

ETFC

E-Trade

$41.06

0.34 (0.83%)

RHT

Red Hat

$107.30

-0.44 (-0.41%)

CFR

Cullen/Frost

$89.10

1.03 (1.17%)

AMG

Affiliated Managers

$179.87

1.3 (0.73%)

FDX

FedEx

$214.83

0.31 (0.14%)

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NOC Northrop Grumman
$267.03

1.34 (0.50%)

09/06/17
STFL
09/06/17
NO CHANGE
STFL
Stifel says United Tech deal strategic, not a sign of M&A 'floodgates opening'
Stifel analyst Joseph DeNardi said one of the only risks he sees to defense stocks' multiples would be a shift in cash deployment strategy from a focus on dividends and buybacks to M&A. However, he views United Technologies' (UTX) planned acquisition of Rockwell Collins (COL) as strategic and largely focused on its desire to regain leverage against Boeing (BA) and Airbus (EADSY) and not indicative of the M&A "floodgates opening" in the defense sector. Other publicly traded companies in the defense space include BAE Systems (BAESY), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).
05/10/17
VERT
05/10/17
UPGRADE
VERT
Buy
Northrop Grumman upgraded to Buy from Hold at Vertical Research
Vertical Research analyst Robert Stallard upgraded Northrop Grumman to Buy from Hold with a $270 price target telling investors defense sector fundamentals remain positive and share underperformance versus peers provides a buying opportunity.
08/08/17
MSCO
08/08/17
INITIATION
Target $279
MSCO
Equal Weight
Northrop Grumman initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Rajeev Lalwani initiated Northrop Grumman with an Equal Weight and a $279 price target saying its leading revenue profile is offset by light free cash flow yields and margin growth.
08/08/17
08/08/17
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. Amazon.com (AMZN), Alphabet (GOOG, GOOGL), and Facebook (FB) were reinstated with a Buy at Mizuho, while eBay (EBAY) and Twitter (TWTR) were reinstated with an Underperform. 2. Broadridge (BR) initiated with a Neutral at DA Davidson. 3. Brighthouse Financial (BHF) initiated with an Overweight at Barclays. 4. Akcea Therapeutics (AKCA) WAS initiated with an Outperform at BMO Capital and Cowen, an Outperform at Wells Fargo, as well as a Buy at Stifel. 5. Lockheed Martin (LMT) and Raytheon (RTN) were initiated with an Overweight at Morgan Stanley, while Northrop Grumman (NOC) was initiated with an Equal Weight, and General Dynamics (GD) was initiated with an Underweight at the firm. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
OA Orbital ATK
$110.04

1.65 (1.52%)

06/05/17
GSCO
06/05/17
INITIATION
Target $106
GSCO
Neutral
Orbital ATK reinstated with a Neutral at Goldman Sachs
Goldman analyst Noah Poponak reinstated Oribtial ATK with a Neutral and a $106 price target saying medium-term fundamental inputs are balanced and valuation is not overly compelling.
08/14/17
ARGS
08/14/17
UPGRADE
ARGS
Buy
Orbital ATK upgraded on valuation cash flow outlook at Argus
As noted earlier, Argus upgraded Orbital ATK to Buy from Hold. Analyst David Coleman upgraded the stock based on valuation and his belief that its cash flow can increase. He notes that the company expects its results to accelerate in 2H17 and expects to hit milestones in 2H17 that will boost its cash flow. Coleman believes that the company will benefit from increased U.S. defense spending in 2017-2018. Target $120.
08/14/17
08/14/17
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. International Paper (IP) upgraded to Buy from Neutral at DA Davidson with analyst Steven Chercover citing the 18% upside to his price target of $62 as well as the 3.5% dividend yield. 2. Masimo (MASI) upgraded to Buy from Neutral with analyst Sean Lavin saying he is more bullish on the Philips (PHG) agreement leading to increased revenue and margins, and the recent share pullback has provided a buying opportunity. Further, the analyst thinks Johnson & Johnson (JNJ) could be an acquirer of Masimo as it sells its products into the OR and ICU markets and would "massively" expand operating margins, and notes Philips may see the value of Masimo's products and make a bid. 3. NetApp (NTAP) upgraded to Buy from Hold at Maxim with analyst Nehal Chokshi saying channel checks indicate the company's hybrid cloud capabilities have gained traction. 4. Orbital ATK (OA) upgraded to Buy from Hold at Argus with analyst David Coleman citing valuation and his belief that its cash flow can increase. 5. Werner (WERN) upgraded to Overweight from Equal Weight at Stephens with analyst Brad Delco saying it is an attractive way to play an inflection in TL fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/17
ARGS
08/14/17
UPGRADE
ARGS
Buy
Orbital ATK upgraded to Buy from Hold at Argus
F Ford
$11.62

0.06 (0.52%)

08/04/17
08/04/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fluor (FLR) was downgraded to Hold from Buy at Deutsche Bank and to Neutral from Buy at DA Davidson. 2. Teva (TEVA) was downgraded to Market Perform from Outperform at Cowen, to Neutral from Outperform at Credit Suisse, and to Underperform from Outperform at RBC Capital. 3. Ford (F) downgraded to Neutral from Buy at Nomura Instinet with analyst Anindya Das citing uncertainties surrounding North America and European growth. 4. Avon Products (AVP) downgraded to Hold from Buy at Deutsche Bank with analyst Faiza Alwy saying the Chief Executive Officer change suggests that a business recovery, should there be one, is more than 12 months away. 5. CommScope (COMM) was downgraded to Hold from Buy at Cross Research, to Neutral from Buy at Longbow, and to Equal Weight from Overweight at Barclays. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/04/17
NOMU
08/04/17
DOWNGRADE
Target $11.6
NOMU
Neutral
Ford downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Anindya Das downgraded Ford to Neutral and cut its price target to $11.60 from $14 due to uncertainties surrounding North America and European growth. Das believes competitors are set to "chip" away share in midsize SUVs and expects the model cycle to turn against Ford in full-size pickups in 2019. Ford is also more susceptible to the effects of Brexit and less likely to fully benefit from a European recovery ex-UK given its relatively higher share of the UK auto market. The analyst also sees pressure on European volumes due to the potential implementation of a free trade deal between the EU and Japan that would phase out the 10% levy on Japan imports, and notes Japanese automakers are no longer exposes to additional tariff risks following Trump's decision to drop the border-adjustment tax.
06/21/17
GUGG
06/21/17
INITIATION
Target $13
GUGG
Neutral
Ford initiated with a Neutral at Guggenheim
Guggenheim analyst Emmanuel Rosner started Ford with a Neutral rating and $13 price target.
06/13/17
WOLF
06/13/17
INITIATION
Target $10
WOLF
Peer Perform
Ford initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Chris Bottiglieri initiated Ford with a Peer Perform and a $10 price target citing risks from high gross leverage, increasing spending requirements, conservative positioning, and increasing competition.
GS Goldman Sachs
$225.22

-1.63 (-0.72%)

07/24/17
07/24/17
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. Goldman Sachs (GS) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying the market seems to be pricing in an inflection in Goldman's trading revenue despite the recent weakness, suggesting a recovery is needed to justify 2018 consensus estimates. 2. Constellation Brands (STZ) downgraded to Neutral from Conviction Buy at Goldman Sachs. 3. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees further downside risk from weaker volumes and believes 2018 will be another year of volume decline and limited margin offset. 4. athenahealth (ATHN) downgraded to Underweight from Equal-Weight at First Analysis with analyst Frank Sparacino saying the valuation at current share levels is ahead of the underlying fundamentals in the short term. 5. PPG (PPG) was downgraded to Hold from Buy at SunTrust and to Neutral from Buy at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/17
WELS
08/09/17
INITIATION
Target $265
WELS
Outperform
Goldman Sachs resumed with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Goldman Sachs (GS) with an Outperform rating and $265 price target. The analyst prefers Goldman over Morgan Stanley (MS), saying the bank has about "twice as fast" organic revenue growth for more than 20 years, and "much faster" earnings growth over 15 years. Mayo named Citi (C) his top pick among the Large-Cap banks.
08/11/17
HSBC
08/11/17
DOWNGRADE
HSBC
Hold
Goldman Sachs downgraded to Hold from Buy at HSBC
09/12/17
KBWI
09/12/17
NO CHANGE
KBWI
Market Perform
Keefe Bruyette 'somewhat skeptical' of Goldman Sachs revenue targets
Keefe Bruyette analyst Brian Kleinhanzl noted that Goldman Sachs co-COO Harvey Schwartz identified $5B in revenue opportunities that the company sees over the next 3 years, though he is "somewhat skeptical" of the bank's ability to hit these targets given that its strategy requires penetrating new markets or segments outside of its traditional strengths. The analyst, who thinks Goldman remains a "show-me stock," keeps a Market Perform rating on the shares.
TWX Acquired by T
$101.87

0.86 (0.85%)

08/07/17
EVER
08/07/17
DOWNGRADE
EVER
In Line
Time Warner downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Vijay Jayant dowgnraded Time Warner (TWX) to In Line saying shares are trading 5% below the $108 merger price with AT&T (T).
08/04/17
LEHM
08/04/17
DOWNGRADE
LEHM
Equal Weight
Time Warner downgraded to Equal Weight from Overweight at Barclays
08/03/17
JEFF
08/03/17
DOWNGRADE
Target $105
JEFF
Hold
Time Warner downgraded to Hold from Buy at Jefferies
Jefferies analyst John Janedis downgraded Time Warner (TWX) to Hold saying the AT&T (T) takeover appears on track to close in Q4. The analyst keeps a $105 price target for the shares.
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.
ALGN Align Technology
$184.50

-0.36 (-0.19%)

09/11/17
PIPR
09/11/17
NO CHANGE
Target $200
PIPR
Overweight
Align Technology price target raised to $200 from $188 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien raised his price target for Align Technology to $200 after attending the Invisalign GP Summit this past weekend. The analyst left the meeting feeling the company's iTero is much more vital to the general practitioner workflow than previously thought and that moving teeth is growing into an increasingly important piece of the GP practice. He calls Align a "one of a kind" name and tells investors to build positions at current levels. O'Brien keeps an Overweight rating on the shares.
09/15/17
GSCO
09/15/17
NO CHANGE
Target $210
GSCO
Buy
Align Technology price target raised to $210 from $185 at Goldman Sachs
Goldman analyst Robert Jones raised Align Technology's price target to $210 to reflect an increased multiple for the group and improved traction in the teen segment and a push into international markets. Shares of Align Technology are Buy rated.
09/06/17
PIPR
09/06/17
NO CHANGE
PIPR
Overweight
Align patent expirations to have minimal impact, says Piper Jaffray
About 40 of Align Technology's patents are about to expire, which will allow competitors for the first time to plan cases using computer assistance, Piper Jaffray analyst Matt O'Brien tells investors in a research note. The analyst, however, believes only a "modest part" of Align's revenue, maybe $20M-$30M, could be at risk. He still sees the company growing in its traditional range of 15%-25% on the top-line and encourages investors to build positions in the name. Olson raised his price target for Align Technology shares to $188 from $176 and keeps an Overweight rating on the name.
08/18/17
WBLR
08/18/17
NO CHANGE
WBLR
Outperform
Align selloff on ClearCorrect takeover overdone, says William Blair
William Blair analyst John Kreger believes the selloff yesterday in shares of Align Technology after Straumann announced that it was acquiring ClearCorrect is overdone. The analyst does not think Straumann buying ClearCorrect affects Align's growth outlook He continues to expect Align's success at migrating traditional orthodontics to clear aligners will attract new competitors. Kreger keeps an Outperform rating on Align shares.
ADI Analog Devices
$83.84

1.5 (1.82%)

06/15/17
RAJA
06/15/17
INITIATION
RAJA
Market Perform
Analog Devices initiated with a Market Perform at Raymond James
Raymond James analyst Chris Caso resumed coverage on Analog Devices with a Market Perform saying earnings and cash flow post linear are in line peers.
06/14/17
RHCO
06/14/17
NO CHANGE
RHCO
Analog Devices to forecast double digit EPS growth, says SunTrust
SunTrust analyst William Stein expects Analog Devices to unveil "a new business model" that will include EPS growth of at least 10% at its Analyst Day next Tuesday. He thinks that more investors will believe that the stock deserves its current premium following the Analyst Day. Stein keeps a $101 price target and a Buy rating on the shares.
08/31/17
NOMU
08/31/17
UPGRADE
Target $80
NOMU
Neutral
Analog Devices upgraded to Neutral from Reduce at Nomura Instinet
Nomura Instinet analyst Romit Shah upgraded Analog Devices to Neutral and raised its price target to $80 from $72.50 following Q3 resutls and guidance. The analyst said Q3 results were "solid" and guidance was based in part on improved profitability. Shah also said the "speedy" appointment of Prashanth Mahendra-Rajah as CFO is a positive as he has a solid track record of driving shareholder value and is well regarded.
09/12/17
JPMS
09/12/17
NO CHANGE
JPMS
JPMorgan lays out iPhone content winners and losers into launch event
JPMorgan analyst Harlan Sur believes Apple's (AAPL) launch event today will be positive for Broadcom (AVGO) and Qorvo (QRVO) as well as Micron (MU) and Intel (INTC). The analyst sees content gains by Broadcom in wireless charging, touch controller, Wi-Fi/Bluetooth and GPS connectivity, and by Qorvo in low band power amplifier duplexers share and antenna tuning. Other companies with significant Apple exposure that would benefit from increased unit sales and/or modest content gains include Intel, Skyworks (SWKS), Knowles (KN), Micron, Cypress Semiconductor (CY), NXP Semiconductors (NXPI) and Texas Instruments (TXN), Sur tells investors in a research note. The analyst sees Analog Devices' (ADI) blended content at Apple declining as he believes the company will not be the touch controller for the OLED-version of the iPhone.
CAT Caterpillar
$121.37

0.89 (0.74%)

09/06/17
GHSC
09/06/17
INITIATION
Target $120
GHSC
Neutral
Caterpillar initiated with a Neutral at Seaport Global
Seaport Global analyst Michael Shlisky initiated Caterpillar with a Neutral and $120 price target citing the recent run in the stock.
09/06/17
09/06/17
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. Caterpillar (CAT) initiated with a Neutral at Seaport Global. 2. Liberty Global (LBTYA) initiated with a Buy at Deutsche Bank. 3. TransUnion (TRU) initiated with a Buy at SunTrust. 4. Inovio (INO) initiated with a Buy at Citi. 5. e.l.f. Beauty (ELF) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/14/17
BMOC
09/14/17
NO CHANGE
BMOC
Caterpillar price target raised to $150 from $130 at BMO Capital
Following Caterpillar's Analyst Day, BMO Capital analyst Joel Tiss believes that the company's " revamped strategy focused on improving the customer experience should pay dividends." The analyst estimates that the company's EPS can reach $9-$11 if its generates its "baseline revenue" figure of $55B. He raised his price target on the shares to $150 from $130 and keeps an Outperform rating on the stock.
09/14/17
STFL
09/14/17
NO CHANGE
Target $125
STFL
Hold
Stifel 'encouraged' by Caterpillar analyst day, keeps stock at Hold
After attending Caterpillar's analyst day meeting, Stifel analyst Stanley Elliott said he came away "encouraged," though he notes expectations into the event were high and he would have hoped for a few more specifics. He keeps a Hold rating and $125 price target on Caterpillar shares following the event.
ETFC E-Trade
$41.06

0.34 (0.83%)

09/08/17
LEHM
09/08/17
INITIATION
Target $45
LEHM
Overweight
E-Trade initiated with an Overweight at Barclays
Barclays analyst Jeremy Campbell started E-Trade with an Overweight rating and $45 price target. The analyst initiated U.S. Brokers, Asset Managers & Exchanges with a Neutral industry view.
07/13/17
07/13/17
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. HP Inc. (HPQ), 3D Systems (DDD), and Stratasys (SSYS) were initiated with a Neutral at Susquehanna. 2. Danaher (DHR) initiated with a Market Perform at Wells Fargo. 3. E-Trade (ETFC) and TD Ameritrade (AMTD) were initiated with a Buy at Rosenblatt, while Charles Schwab (SCHW) was initiated with a Neutral. 4. C&J Energy Services (CJ) initiated with a Buy at Jefferies. 5. BIO-key (BKYI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/21/17
WELS
07/21/17
NO CHANGE
WELS
E-Trade shares should be up more, says Wells Fargo
Wells Fargo believes that E-Trade's stock should be up more after the company reported stronger than expected Q2 results and announced what the firm calls "an aggressive capital return plan." Wells increased its longer term EPS estimates for the company by more than 10% and keeps an Outperform rating on the shares.
07/24/17
RHCO
07/24/17
NO CHANGE
RHCO
E-Trade price target raised to $49 from $43 at SunTrust
SunTrust analyst Douglas Mewhirter increased his price target on E-Trade after the company reported Q2 results that he called "strong." The analyst raised his EPS estimates for the company and keeps a Buy rating on the shares.
RHT Red Hat
$107.30

-0.44 (-0.41%)

09/05/17
09/05/17
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. Owens-Illinois (OI) initiated with a Neutral at UBS. 2. Akamai (AKAM) initiated with a Neutral at Credit Suisse. 3. Zealand Pharma (ZEAL) was initiated with a Buy at Needham and Guggenheim while being initiated with an Overweight at Morgan Stanley. 4. YogaWorks (YOGA) was initiated with an Outperform at Cowen, an Overweight at Stephens, and a Buy at Roth Capital and Guggenheim. 5. Red Hat (RHT) initiated with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/17
MOFT
09/06/17
INITIATION
Target $135
MOFT
Buy
Red Hat initiated with a Buy at MoffettNathanson
MoffettNathanson analyst Adam Holt initiated Red Hat with a Buy and a $135 price target.
09/08/17
KEYB
09/08/17
INITIATION
Target $121
KEYB
Overweight
Red Hat resumed with an Overweight at KeyBanc
KeyBanc analyst Alex Kurtz resumed coverage of Red Hat with an Overweight rating and $121 price target. The analyst believes the company's products continue to have a strong secular position.
09/13/17
JMPS
09/13/17
NO CHANGE
Target $122
JMPS
Outperform
Red Hat price target raised to $122 after open source event at JMP Securities
After attending the Open Source Summit North America, JMP Securities analyst Greg McDowell said open source is not only growing but accelerating "exponentially," adding that he believes Red Hat has been and should continue to be a beneficiary of the trend. Given that the summit left him feeling better about Red Hat's prospects, he raised his price target on the stock to $122 from $107. McDowell keeps an Outperform rating on Red Hat shares ahead of the company's earnings report on September 25.
CFR Cullen/Frost
$89.10

1.03 (1.17%)

07/31/17
JPMS
07/31/17
DOWNGRADE
Target $88
JPMS
Underweight
Cullen/Frost downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Steven Alexopoulos downgraded Cullen/Frost to Underweight and lowered his price target for the shares to $88 from $100. Management commentary on the Q2 earnings call "threw cold water" on the company's earnings growth potential in the years ahead, Alexopoulos tells investors in a research note. He sees the current premium valuation of the shares at risk.
08/10/17
RAJA
08/10/17
DOWNGRADE
RAJA
Underperform
Cullen/Frost downgraded to Underperform from Market Perform at Raymond James
Raymond James analyst David Long downgraded Cullen/Frost to Underperform citing rich valuation and believes its decision to materially increase deposit costs in certain categories will negatively impact near-to intermediate-term results.
08/28/17
RHCO
08/28/17
NO CHANGE
RHCO
Texas bank weakness creates buying opportunity, says SunTrust
SunTrust analyst Jennifer Demba predicts that the flooding in Texas will negatively impact the stocks of banks based in the state. She thinks that the "probable" weakness of the following bank stocks will create buying opportunities: Zions Bancorp (ZION), Cullen/Frost (CFR), Prosperity Bancshares (PB), and Texas Capital (TCBI).
05/19/17
WEDB
05/19/17
UPGRADE
WEDB
Neutral
Cullen/Frost upgraded to Neutral from Underperform at Wedbush
Wedbush analyst Peter Winter upgraded Cullen/Frost to Neutral citing valuation and maintained a $92 price target. The analyst said loan growth has been solid and outlook is positive and the loan pipeline is building.
AMG Affiliated Managers
$179.87

1.3 (0.73%)

06/05/17
06/05/17
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. Apple (AAPL) downgraded to Sector Weight from Overweight at Pacific Crest with analyst Andy Hargreaves saying upside from the launch of iPhone 8 is already reflected in the shares. An "extremely strong iPhone 8 cycle" is being priced into the stock while little weight is being given to gross margins, supply issues, or the likelihood for declines beyond the iPhone 8, Hargreaves tells investors in a research note. 2. Perrigo (PRGO) downgraded to Underperform from Sector Perform at RBC Capital with analyst Randall Stanicky saying the growth rate of the company's U.S. consumer business "has structurally re-rated lower" amid pricing headwinds and share losses. 3. Endocyte (ECYT) downgraded to Neutral from Outperform at Wedbush and to Market Perform from Outperform at Cowen. 4. Affiliated Managers (AMG) was downgraded to Neutral from Buy at Citi while Federated Investors (FII) was downgraded to Sell from Neutral. 5. Veeva (VEEV) downgraded to Equal Weight from Overweight at Morgan Stanley with the firm's analyst saying the 60%+ move in shares year-to-date captures much of the near-term upside in the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/02/17
FBCO
05/02/17
NO CHANGE
Target $194
FBCO
Outperform
Credit Suisse sees Affiliated Managers as 'undervalued'
Following Q1 results, Credit Suisse analyst Craig Siegenthaler reiterated an Outperform rating on Affiliated Managers' stock as he believes it is undervalued relative to its long-term EPS growth prospects. While the analyst is slightly less positive on the company's growth prospects, he still expects Affiliated Managers' EPS to grow above 10%/year. Siegenthaler also thinks its flows may reaccelerate over the next two quarters as its large PE fund raising effort will begin in Q2 and should continue for the next 12 months. He reiterated an Outperform rating on the stock, and lowered his price target on the shares to $194 from $196.
05/02/17
SBSH
05/02/17
NO CHANGE
Target $185
SBSH
Buy
Affiliated Managers removed from Focus List at Citi
Citi analyst William Katz removed Affiliated Managers Group from his firm's U.S. Focus List citing a lack of short-term catalysts. The analyst lowered his price target for the shares to $185 from $205 following the company's Q1 results and keeps a Buy rating on the name. He still sees value in Affiliated Managers.
06/05/17
SBSH
06/05/17
DOWNGRADE
Target $180
SBSH
Neutral
Affiliated Managers downgraded to Neutral from Buy at Citi
Citi analyst William Katz downgraded Affiliated Managers to Neutral and lowered his price target for the shares to $180 from $185 after reordering his rankings in the Asset Manager space. The analyst believes "winners must have a combination of Active, Passive, Alternatives, digital delivery and risk management acumen."
FDX FedEx
$214.83

0.31 (0.14%)

09/15/17
09/15/17
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. Equifax (EFX) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg citing news of a major hack on the company's data that could have lasting effects. 2. FedEx (FDX) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing TNT issues following the cyber-attack in June that knocked out multiple systems. 3. Carnival (CCL) downgraded to Neutral from Outperform at Credit Suisse with analyst Tim Ramskil saying he is worried that his estimate of absolute industry capacity growth in 2018-2021 is double that of the last five years. 4. American Airlines (AAL), United Continental (UAL), and Spirit Airlines (SAVE) were downgraded to Neutral from Overweight at JPMorgan. 5. Acuity Brands (AYI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Richard Kwas saying his firm's electrical channel checks indicate the 8% consensus organic revenue growth estimate for FY18 does not have upside. The analyst thinks shares are likely range-bound in the $160-$200 range "for the time being." He believes a "material step up" in tiered solutions growth is needed for gross margin to outperform expectations. 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
FBCO
09/15/17
NO CHANGE
Target $242
FBCO
Outperform
FedEx 2020 operating income target may still be achievable, says Credit Suisse
Credit Suisse analyst Allison Landry acknowledges that the damage to FedEx from the cyber attack on TNT is likely significant and she is not recommending that investors buy into FedEx's Q1 report next week. However, to the extent that the company can convince that the TNT situation is contained and that it can still achieve its targeted operating income improvement of $1.2B-$1.5B by 2020, she thinks the report could remove an overhang and be a positive catalyst for the stock. The analyst, who thinks a path to the 2020 target may still be achievable, keeps an Outperform rating on FedEx and raised her price target on the shares to $242 from $237.
09/15/17
UBSW
09/15/17
DOWNGRADE
UBSW
Neutral
FedEx downgraded to Neutral from Buy at UBS
UBS analyst Thomas Wadewitz downgraded FedEx to Neutral with a $233 price target to reflect TNT issues following the cyber-attack in June that knocked out multiple systems. Wadewitz said it is remains unclear if international operation, delivery confirmation and billing systems are fully running and thinks the resulting impact on volumes could last, reducing FedEx's ability to deliver 10%-15% earnings growth in 2018/19. The analyst believes FedEx risk/reward is balanced in the near-term and sees less clarity in FY18 with risk from TNT.
09/14/17
SBSH
09/14/17
NO CHANGE
SBSH
Buy
Citi sees 'tricky' setup into FedEx's Q1 results
Citi analyst Christian Wetherbee thinks the setup is "tricky" into FedEx's Q1 results next week. The stock has rallied off the post-cyber-attack lows into what should be a "messy" quarter, Wetherbee tells investors in a pre-earnings research note. He estimates the earnings per share impact of the TNT cyber-attack to be in the 50c-$1.00 range for FY18. As a result, Wetherbee expects FedEx to cut its full-year guidance. He recommends buying the shares on any post-earnings weakness, however. The company's long-term story "remains quite attractive," Wetherbee writes. He keeps a Buy rating on FedEx with a $235 price target and continues to see long-term value of $260-$290 per share.

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Victory Capital

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