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AABA

Altaba

$66.59

-0.33 (-0.49%)

, BABA

Alibaba

$177.39

-0.56 (-0.31%)

05:52
09/22/17
09/22
05:52
09/22/17
05:52

Altaba price target raised to $77 from $70 at UBS

UBS analyst Eric Sheridan raised his price target for Altaba (AABA) shares to $77 and keeps a Buy rating on the name. Three months into its trading, the market is still a applying a "deep discount" to any potential tax efficiency on asset value to the company's stakes in Alibaba (BABA) and Yahoo Japan (YAHOY), Sheridan tells investors in a research note. After speaking with tax experts, the analyst believes there are tax efficient structures with precedence that Altaba can leverage. Further, the possibility of a federal tax cut provides additional optionality for tax efficiency, Sheridan adds.

AABA

Altaba

$66.59

-0.33 (-0.49%)

BABA

Alibaba

$177.39

-0.56 (-0.31%)

YAHOY

Yahoo Japan

$8.90

-0.08 (-0.89%)

  • 03

    Oct

AABA Altaba
$66.59

-0.33 (-0.49%)

09/01/17
MKMP
09/01/17
NO CHANGE
Target $76
MKMP
Buy
MKM ups Altaba price target to $76 on higher Alibaba outlook
MKM Partners analyst Rob Sanderson raised his price target for Altaba (AABA) shares to $76 from $62 to reflect a higher outlook for the value of the company's Alibaba (BABA) stake. His new sum-of-the-parts valuation embeds a 12-month price target for Alibaba of $220, current value for other assets and the full 40% tax liability. The pretax value of Altaba's assets is now $95 per share, Sanderson tells investors in a research note. He sees tax efficiencies on the stake, upside in the value of Yahoo Japan (YAHOY) and sale of patents in excess of fair value as potential upside scenarios for Altaba. The analyst keeps a Buy rating on the shares. Altaba closed yesterday down 8c to $64.08.
07/17/17
UBSW
07/17/17
NO CHANGE
Target $69
UBSW
Buy
Altaba price target raised to $69 from $58 at UBS
UBS analyst Eric Sheridan raised his price target on Altaba (AABA) to $69 from $58 following its transformation from Yahoo. The analyst said tax efficient structures could allow the company to monetize its Alibaba (BABA) and Yahoo Japan stakes and the possibility of a federal tax cut provides additional optionality for tax efficiency. Sheridan reiterated his Buy rating on Altaba 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.
06/28/17
JPMS
06/28/17
INITIATION
Target $65
JPMS
Overweight
Altaba initiated with an Overweight at JPMorgan
JPMorgan analyst Doug Anmuth started Altaba (AABA) with an Overweight rating and $65 price target. The analyst cites expected upside in Alibaba (BABA), the ability for Altaba to close its 31% valuation discount over time, and expected Yahoo Japan (YAHOY) upside for his bullish thesis.
BABA Alibaba
$177.39

-0.56 (-0.31%)

09/12/17
MSCO
09/12/17
NO CHANGE
MSCO
Augmented Reality the next 'killer app' to power Apple, says Morgan Stanley
A team of Morgan Stanley analysts including Katy Huberty, Brian Nowak and Grace Chen, among others, state in a new note to investors that they view Augmented Reality, or AR, as a revolutionary trend that can be "the next killer app" to extend the life of the smartphone market and accelerate device upgrades, led by Apple's (AAPL) iPhone. The analysts, who compare the impact of AR to the launch of Apple's App Store nearly a decade ago, add that they "don't expect the Android ecosystem to stand still in response." Huberty and the team raised the firm's "bull case" valuation of Apple, which they see taking the lead in AR, to $253 from $203. While they see Apple as "the clear leader" in AR, Google (GOOG) and Tencent (TCEHY) are also well-positioned and "interesting use cases" in e-commerce could benefit Alibaba (BABA) and Amazon (AMZN), they add.
09/07/17
DBAB
09/07/17
NO CHANGE
Target $199
DBAB
Buy
Alibaba price target lowered to $199 from $208 at Deutsche Bank
Deutsche Bank analyst Alan Hellawell lowered his price target for Alibaba shares to $199 after recalibrating his estimates to reflect higher investment for the rest of fiscal year 2018. The analyst reduced his profit estimates to reflect Alibaba's intention to grow B2C market share and rising video spend. Hellawell maintains his FY18 revenue growth estimate of 48.5% on "continuously improving ad personalization and other data analytics tools increasing merchant ROI." The analyst reiterates a Buy rating on Alibaba.
09/06/17
JPMS
09/06/17
NO CHANGE
Target $200
JPMS
Overweight
Alibaba price target lowered to $200 from $205 at JPMorgan
JPMorgan analyst Alex Yao lowered his price target for Alibaba Group Holding to $200 saying he expects the company's s FY18 non-GAAP EBITDA margin to decline to 43% from 47% in FY17 due to investments across B2C promotions, New Retail and video content. The analyst sees a "mixed outlook" for return on investment, but believes the investments "pave the way for long-term sustainable earnings growth." Yao keeps an Overweight rating on Alibaba.
YAHOY Yahoo Japan
$8.90

-0.08 (-0.89%)

09/20/17
09/20/17
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. Johnson & Johnson (JNJ) downgraded to Sell from Neutral at Goldman Sachs with analyst Jami Rubin saying pressure on key products combined with still-slow MD&D growth and continued strains on the consumer will leave the company with below average, long-term growth. 2. United Continental (UAL) downgraded to Market Perform at Raymond James with analyst Savanthi Syth saying an improvement in relative profitability versus legacy peers is likely to take longer than previously expected. 3. Ingersoll-Rand (IR) downgraded to Neutral from Overweight at JPMorgan with analyst C. Stephen Tusa saying he sees more relative upside and better risk/rewards elsewhere in the Electrical Equipment and Multi Industry sector. The analyst expects the company's solid execution to continue and raised his price target for the shares to $98 from $96. 4. L Brands (LB) downgraded to Market Perform from Outperform at Cowen with analyst Oliver Chen saying he sees risk to its comparable sales growth and margins if the company can not achieve elevated pricing. 5. Yahoo Japan (YAHOY) downgraded to Hold from Buy at Jefferies with analyst Hiroko Sato citing a lack of catalysts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/17
JEFF
09/20/17
DOWNGRADE
JEFF
Hold
Yahoo Japan downgraded to Hold from Buy at Jefferies
Jefferies analyst Hiroko Sato downgraded Yahoo Japan to Hold citing a lack of catalysts. The analyst sees only single-digit sales growth in FY18.

TODAY'S FREE FLY STORIES

LGF.B

Lionsgate

$27.16

-0.12 (-0.44%)

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Lionsgate

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DIS

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FOX

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FOXA

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CMCSA

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CMCSK

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T

AT&T

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0.047 (0.13%)

TWX

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0.405 (0.43%)

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ATVI

Activision Blizzard

$70.84

0.65 (0.93%)

12:05
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UNP

Union Pacific

$133.54

3.31 (2.54%)

12:05
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TXN

Texas Instruments

$105.29

0.82 (0.78%)

12:01
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Conference/Events
Texas Instruments management to meet with SunTrust »

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BHGE

Baker Hughes

$27.48

1.04 (3.93%)

12:00
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Options
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12:00
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CPB

Campbell Soup

$45.10

-0.985 (-2.14%)

, LNCE

Snyder's-Lance

$50.00

0.05 (0.10%)

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$45.10

-0.985 (-2.14%)

LNCE

Snyder's-Lance

$50.00

0.05 (0.10%)

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HBAN

Huntington Bancshares

$15.90

0.07 (0.44%)

11:50
02/21/18
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11:50
Options
Call buyers in Huntington Bancshares »

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General news
Treasury $15 B 2-year FRN reopening was weak »

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C

Citi

$77.50

1.0399 (1.36%)

11:47
02/21/18
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Periodicals
Citi creates new position to supervise EMEA commodities banking, FT says »

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XLI

Industrial Select Sector SPDR

$77.42

0.905 (1.18%)

, XLF

Financial Select Sector

$29.21

0.32 (1.11%)

11:43
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Technical Analysis
Technical Take: S&P 500 hits session highs at midday »

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XLI

Industrial Select Sector SPDR

$77.42

0.905 (1.18%)

XLF

Financial Select Sector

$29.21

0.32 (1.11%)

XLB

S&P Select Materials SPDR

$60.73

0.52 (0.86%)

XLK

Technology Select Sector SPDR

$67.79

0.55 (0.82%)

XLRE

Real Estate SPDR

$30.23

-0.145 (-0.48%)

XLP

Consumer Staples Sector SPDR

$54.16

-0.18 (-0.33%)

SPY

SPDR S&P 500 ETF Trust

$273.35

1.945 (0.72%)

SPX

S&P 500

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PFE

Pfizer

$36.31

0.3 (0.83%)

, BIIB

Biogen

$287.45

-4.42 (-1.51%)

11:43
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Periodicals
Breaking Periodicals news story on Pfizer, Biogen, Roche »

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PFE

Pfizer

$36.31

0.3 (0.83%)

BIIB

Biogen

$287.45

-4.42 (-1.51%)

RHHBY

Roche

$29.77

-0.53 (-1.75%)

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SLCA

U.S. Silica

$26.56

-4.195 (-13.64%)

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CPB

Campbell Soup

$45.44

-0.64 (-1.39%)

, LNCE

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$50.00

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Snyder's-Lance

$50.00

0.05 (0.10%)

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General news
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PCRX

Pacira

$31.25

1.1 (3.65%)

11:36
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11:36
Recommendations
Pacira analyst commentary  »

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AIDIF

Air Canada

11:35
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Conference/Events
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25K Alerian MLP Mar 9th 10.5 puts trade for 20c on ISE »

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CPB

Campbell Soup

$45.38

-0.7 (-1.52%)

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PERY

Perry Ellis

$26.32

-0.52 (-1.94%)

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NBL

Noble Energy

$29.48

0.36 (1.24%)

11:27
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Noble Energy analyst commentary  »

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DVN

Devon Energy

$32.86

-1.79 (-5.17%)

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T

AT&T

$36.92

0.15 (0.41%)

, TWX

Time Warner

$95.26

0.19 (0.20%)

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T

AT&T

$36.92

0.15 (0.41%)

TWX

Time Warner

$95.26

0.19 (0.20%)

DIS

Disney

$106.30

0.32 (0.30%)

FOX

21st Century Fox

$36.61

-0.43 (-1.16%)

SNI

Scripps Networks

$88.16

0.35 (0.40%)

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DIS

Disney

$106.34

0.36 (0.34%)

11:23
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