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WFC

Wells Fargo

$54.25

0.19 (0.35%)

11:34
09/23/17
09/23
11:34
09/23/17
11:34

Wells Fargo hires law firm to prepare CEO for Senate appearance, Reuters says

Wells Fargo has hired law firm Sidley Austin to take the lead in preparing CEO Tim Sloan for his appearance before Congress next month to answer questions about a year-long sales practices scandal, according to Reuters, citing four sources familiar with the manner. Reference Link

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WFC Wells Fargo
$54.25

0.19 (0.35%)

09/15/17
UBSW
09/15/17
NO CHANGE
Target $56
UBSW
Neutral
Wells Fargo revenue headwinds can persist, says UBS
UBS analyst Saul Martinez said proprietary analysis suggests Wells Fargo's difficult backdrop for client acquisition remains and the recent disclosures have kept the company in the spotlight for the wrong reasons. He believes earnings growth depends on efficiency improvement and more aggressive stock buybacks. Martinez maintained his Neutral rating and lowered his price target to $56 from $59 on Wells Fargo shares.
09/14/17
SBSH
09/14/17
NO CHANGE
SBSH
Buy
Citi says business model not broken, time to buy Wells Fargo
Citi analyst Keith Horowitz proclaims now is the time to buy shares of Wells Fargo. Over the past year, the company's total return is up 7% versus 36% for peers, Horowitz tells investors in a research note. He attributes all the underperformance to lower multiple expansion. Wells now trades at the highest implied cost of equity at 10.9% on the analyst's valuation screen, which he says has historically been a very good buy indicator. Horowitz believes Wells Fargo's business improved, not broken. The company's issue is an "aggressive sales culture encouraged the wrong behavior leading to strong account generation," which had an immaterial impact to earnings, Horowitz writes. He believes the bank's fundamental outlook has not changed.
07/31/17
07/31/17
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. Altria Group (MO) upgraded to Sector Perform from Underperform at RBC Capital with analyst Nik Modi saying he believes the FDA's tobacco announcement on Friday was "very much in line" with industry expectations despite the surprise to investors. 2. American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen. 3. Baidu (BIDU) upgraded to Buy from Neutral at Nomura Instinet with analyst Jialong Shi-NIHK citing accelerating revenue momentum driven by news feed ads and an undervalued video business. 4. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham citing valuation. The firm also ended its pair trade call of going long Citi (C) and short Wells Fargo. 5. GoPro (GPRO) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Yuuji Anderson saying valuation better reflects efforts to driver better product cycles through software improvements. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/31/17
BMOC
07/31/17
DOWNGRADE
BMOC
Market Perform
Citi downgraded on valuation, lack of catalysts at BMO Capital
As noted earlier, BMO Capital downgraded Citi (C) to Market Perform from Outperform. Analyst James Fotheringham downgraded the stock based on valuation and lack of catalysts. In conjunction with this note, he upgraded Wells Fargo (WFC) to Outperform from Market Perform and ended his pair trade call of going long Citi and short Wells Fargo. Target on Citi is $65.

TODAY'S FREE FLY STORIES

IMAX

Imax

$22.60

-0.3 (-1.31%)

06:51
02/20/18
02/20
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06:51
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Imax initiated  »

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TVIX

VelocityShares Daily 2x VIX Short-Term ETN

$7.95

0.17 (2.19%)

06:50
02/20/18
02/20
06:50
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06:50
Technical Analysis
VelocityShares Daily 2x VIX Short-Term ETN: Pivot points, pivot high broken »

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TORC

ResTORbio

$18.76

0.54 (2.96%)

06:50
02/20/18
02/20
06:50
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06:50
Initiation
ResTORbio initiated  »

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TVPT

Travelport

$13.22

0.14 (1.07%)

06:50
02/20/18
02/20
06:50
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06:50
Earnings
Travelport sees FY18 adj. EPS $1.34-$1.46, consensus $1.44 »

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CVRS

Corindus

$0.95

-0.0071 (-0.74%)

06:49
02/20/18
02/20
06:49
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06:49
Hot Stocks
Corindus receives FDA 510(k) clearance for CorPath GRX System »

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SVXY

ProShares Short VIX Short-Term Futures

$12.69

-0.22 (-1.70%)

06:49
02/20/18
02/20
06:49
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06:49
Technical Analysis
ProShares Short VIX Short-Term Futures: Pivot points, pivot low broken »

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BWXT

BWX Technologies

$64.12

-0.19 (-0.30%)

06:49
02/20/18
02/20
06:49
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06:49
Hot Stocks
BWX Technologies subsidary awarded contracts for C$30M »

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    Feb

WMT

Walmart

$104.78

1.55 (1.50%)

06:48
02/20/18
02/20
06:48
02/20/18
06:48
Hot Stocks
Breaking Hot Stocks news story on Walmart »

Walmart sees FY19 CapEx…

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WMT

Walmart

$104.78

1.55 (1.50%)

06:48
02/20/18
02/20
06:48
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06:48
Hot Stocks
Walmart says moving to annual guidance framework with quarterly updates »

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SLDB

Solid Biosciences

$24.93

-1.34 (-5.10%)

, SRPT

Sarepta

$64.00

0.86 (1.36%)

06:48
02/20/18
02/20
06:48
02/20/18
06:48
Initiation
Solid Biosciences, Sarepta initiated  »

Solid Biosciences…

SLDB

Solid Biosciences

$24.93

-1.34 (-5.10%)

SRPT

Sarepta

$64.00

0.86 (1.36%)

03/08/13
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  • 01

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USO

United States Oil Fund

$12.38

0.05 (0.41%)

06:47
02/20/18
02/20
06:47
02/20/18
06:47
Technical Analysis
United States Oil Fund: Pivot points »

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TVPT

Travelport

$13.22

0.14 (1.07%)

06:47
02/20/18
02/20
06:47
02/20/18
06:47
Earnings
Travelport reports Q4 adj. EPS 35c, consensus 23c »

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WMT

Walmart

$104.78

1.55 (1.50%)

06:47
02/20/18
02/20
06:47
02/20/18
06:47
Earnings
Walmart sees FY19 net sales growth 1.5%-2%, consensus $511.94B »

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CDXC

ChromaDex

$5.39

0.01 (0.19%)

06:47
02/20/18
02/20
06:47
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06:47
Hot Stocks
ChromaDex announces two new collaborative human clinical studies on NIAGEN »

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  • 11

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XOP

SPDR Oil Exploration and Production Fund

$33.92

-0.17 (-0.50%)

06:47
02/20/18
02/20
06:47
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06:47
Technical Analysis
SPDR Oil Exploration and Production Fund: Pivot points »

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MDT

Medtronic

$83.31

0.37 (0.45%)

06:47
02/20/18
02/20
06:47
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06:47
Earnings
Medtronic backs FY18 adjusted EPS growth view of 9%-10%, consensus $4.77 »

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$31.88

0.71 (2.28%)

06:46
02/20/18
02/20
06:46
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06:46
Technical Analysis
VelocityShares 3x Inv Natural Gas ETN: Pivot points, pivot low broken »

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AGS

PlayAGS

$19.95

0.11 (0.55%)

06:46
02/20/18
02/20
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06:46
Initiation
PlayAGS initiated  »

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TLRD

Tailored Brands

$23.31

-0.01 (-0.04%)

06:45
02/20/18
02/20
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06:45
Hot Stocks
Tailored Brands launches three week custom delivery »

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  • 14

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TFX

Teleflex

$267.89

2.28 (0.86%)

06:45
02/20/18
02/20
06:45
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06:45
Hot Stocks
Teleflex subsidiary announces FDA cleared new indication for UroLift »

NeoTract, a wholly owned…

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ADM

Archer Daniels

$43.13

0.265 (0.62%)

, SYT

Syngenta

06:45
02/20/18
02/20
06:45
02/20/18
06:45
Periodicals
ADM, Syngenta settle lawsuit over biotech corn exports to China, Reuters reports »

Archer Daniels Midland…

ADM

Archer Daniels

$43.13

0.265 (0.62%)

SYT

Syngenta

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MDT

Medtronic

$83.31

0.37 (0.45%)

06:45
02/20/18
02/20
06:45
02/20/18
06:45
Earnings
Medtronic reports Q3 adjusted EPS $1.17, consensus $1.17 »

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$52.20

-1.3 (-2.43%)

06:45
02/20/18
02/20
06:45
02/20/18
06:45
Technical Analysis
VelocityShares 3x Long Natural Gas ETN: Pivot points, pivot high broken »

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PAGS

PagSeguro Digital

$30.36

1.28 (4.40%)

06:45
02/20/18
02/20
06:45
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06:45
Initiation
PagSeguro Digital initiated  »

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AERI

Aerie Pharmaceuticals

$54.90

1.25 (2.33%)

, EGRX

Eagle Pharmaceuticals

$64.78

-0.07 (-0.11%)

06:44
02/20/18
02/20
06:44
02/20/18
06:44
Hot Stocks
Aerie Pharmaceuticals appoints John LaRocca as General Counsel »

Aerie Pharmaceuticals…

AERI

Aerie Pharmaceuticals

$54.90

1.25 (2.33%)

EGRX

Eagle Pharmaceuticals

$64.78

-0.07 (-0.11%)

03/08/13
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