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DISCA

Discovery

$21.35

-0.06 (-0.28%)

, MO

Altria Group

$64.87

1.08 (1.69%)

10:20
09/26/17
09/26
10:20
09/26/17
10:20

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Neutral from Sell at UBS with analyst Doug Mitchelson saying the risk/reward is balanced with the shares down 22% year-to-date. 2. Altria Group (MO) upgraded to Outperform from Market Perform at Cowen with analyst Vivien Azer citing its notable pullback following the late July FDA announcement and a bigger than expected price increase which reinforces the durability of its earnings growth. 3. L Brands (LB) upgraded to Overweight from Neutral at Atlantic Equities with analyst Daniela Nedialkova saying recent Victoria Secret visits are highly encouraging with a number of changes that should drive a positive inflection in comps over the next several months. 4. Boston Beer (SAM) upgraded to Neutral from Underperform at Credit Suisse with analyst Laurent Grandet saying the market sentiment remains "overly negative," which creates a more balanced spread between upside and downside scenarios. 5. British American Tobacco (BTI) upgraded to Outperform from Market Perform at Cowen with analyst Vivien Azer saying she views the weakness from FDA risk and foreign exchange movements as having created an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

DISCA

Discovery

$21.35

-0.06 (-0.28%)

MO

Altria Group

$64.87

1.08 (1.69%)

LB

L Brands

$42.77

1.87 (4.57%)

SAM

Boston Beer

$159.25

6.25 (4.09%)

BTI

British American Tobacco

$62.01

0.02 (0.03%)

  • 02

    Nov

DISCA Discovery
$21.35

-0.06 (-0.28%)

09/26/17
UBSW
09/26/17
UPGRADE
Target $23
UBSW
Neutral
Discovery upgraded to Neutral from Sell at UBS
UBS analyst Doug Mitchelson upgraded Discovery Communications to Neutral saying the risk/reward is balanced with the shares down 22% year-to-date. The stock now reflects the "broad media secular challenges," Mitchelson tells investors in a research note. He lowered his price target for the shares to $23 from $25.
09/05/17
WELS
09/05/17
UPGRADE
Target $116
WELS
Outperform
Disney upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Marci Ryvicker upgraded Disney (DIS) to Outperform and raised her price target for the shares to $116 from $109. The owner of ESPN and ABC closed Friday up 31c to $101.50. Concerns over potential dilution from the BAMTech stake and the streaming apps are "widely overdone," Ryvicker tells investors in a research note where she also downgraded Viacom (VIAB). She expects the TV ecosystem will soon undergo on an accelerated push into over-the-top. As such, investors may need to start increasing exposure to media companies with solid streaming strategies, such as CBS (CBS), 21st Century Fox (FOXA), and Disney, and lessen exposure to those that do not, such as Viacom and Scripps Networks (SNI)/Discovery Communications (DISCA), Ryvicker argues. The analyst likes the current entry point for Disney shares.
09/14/17
FBCO
09/14/17
UPGRADE
FBCO
Neutral
Discovery upgraded to Neutral from Underperform at Credit Suisse
09/19/17
09/19/17
NO CHANGE

Cowen lowers price targets on media companies
Cowen analyst Doug Crentz cut his price targets for several media companies, as he believes that the margin pressure on TV networks will continue. The analyst believes that consensus estimates for TV broadcasters are too high, as he expects that the decline in the sector's EBITDA margin will more than double this year, driven by lower ad and affiliate revenue. He believes that two "deep-pocketed, low margin competitors -Netflix (NFLX) and Amazon (AMZN) - are the root of the problem. He cut his price target on Viacom (VIAB) to $31 from $41, on Discovery (DISCA) to $19 from $25, on Fox (FOXA) to $29 from $32, on CBS (CBS) to $69 from $70 and on Disney (DIS) to $94 from $95.
MO Altria Group
$64.87

1.08 (1.69%)

09/21/17
STFL
09/21/17
NO CHANGE
Target $72
STFL
Buy
Altria cigarette price hike earlier, larger than expected, says Stifel
Stifel analyst Christopher Growe noted that Altria just announced its second cigarette price increase this year. The rise of 10c per pack was 2c per pack more than he expected and came two months earlier than the company's typical November hike. With volumes declining at an accelerated pace in 2017, due in particular to the large excise tax increase in California, he sees the accelerated rate of price increases as encouraging and thinks it reflects both consolidation in the industry and a desire to reinvest back into the business. He keeps a Buy rating and $72 price target on Altria shares.
09/26/17
COWN
09/26/17
UPGRADE
Target $71
COWN
Outperform
Altria Group upgraded to Outperform at Cowen
As reported previously, Cowen analyst Vivien Azer upgraded Altria Group to Outperform from Market Perform citing its notable pullback following the late July FDA announcement and a bigger than expected price increase which reinforces the durability of its earnings growth. Azer raised her price target to $71 from $64 on Altria shares.
09/26/17
COWN
09/26/17
UPGRADE
COWN
Outperform
Altria Group upgraded to Outperform from Market Perform at Cowen
08/30/17
MSCO
08/30/17
NO CHANGE
MSCO
Overweight
British American Tobacco recent weakness appears overdone, says Morgan Stanley
Morgan Stanley analyst Matthew Grainger said he views some degree of weakness in U.S. and European tobacco stocks since "FDA Friday" - when the agency announced plan to pursue reduced nicotine content in cigarettes - as warranted, but he views the impact on British American Tobacco (BTI) as being overstated by the stock's 11% pullback. For Altria Group (MO), which is down 14% since that day, he sees the move as having returned the stock to appropriate valuation levels, he added. Grainger lowered his price target for Altria to $65 from $68, kept his Philip Morris (PM) price target of $120 unchanged and maintains his British American target at GBP60.
LB L Brands
$42.77

1.87 (4.57%)

09/22/17
GSCO
09/22/17
NO CHANGE
GSCO
Buy
Goldman Sachs incrementally more bullish on Victoria's Secret recovery timeline
Following a meeting with L Brands Chairman and CEO, Les Wexner, Goldman analyst Lindsay Drucker Mann is encouraged by his view that the Victoria Secret's business bottomed around May/June. Wexner said he is is more bullish on the Victoria Secret lingerie business than he has in 5 years, and Mann is encouraged by his view reiterating her Buy rating.
09/26/17
09/26/17
UPGRADE
Target $56

Overweight
L Brands upgraded to Overweight on sales inflection at Atlantic Equities
As previously reported, Atlantic Equities upgraded L Brands to Overweight from Neutral with a $56 price target. Analyst Daniela Nedialkova said recent Victoria Secret visits are highly encouraging with a number of changes that should drive a positive inflection in comps over the next several months. The analyst expects sales trends to inflect through year-end and have a solid positive pace through 2018, which should re-rate shares higher.
09/26/17
ATLE
09/26/17
UPGRADE
ATLE
Overweight
L Brands upgraded to Overweight from Neutral at Atlantic Equities
09/21/17
BERN
09/21/17
NO CHANGE
Target $57
BERN
Outperform
Victoria's Secret brand remains 'strong,' says Bernstein
Bernstein analyst Jamie Merriman says he surveyed 500 women across the U.S. in July about the strength of Victoria's Secret's brand, and overall the results support his view that it remains a "strong brand" with the power to drive sales growth. The analyst reiterates an Outperform rating and $57 price target on the shares.
SAM Boston Beer
$159.25

6.25 (4.09%)

07/24/17
GSCO
07/24/17
DOWNGRADE
GSCO
Sell
Boston Beer downgraded to Sell from Neutral at Goldman Sachs
Goldman analyst Judy Hong downgraded Boston Beer to Sell with a $110 price target saying she sees further downside risk from weaker volumes and believes 2018 will be another year of volume decline and limited margin offset. The analyst lowered her overall US beer volume forecast to down .7% in 2017, versus flat, and down .3% in 2018, versus up .1%, to reflect industry wide softness and sees continued challenges in Boston Beer's core beer and cider portfolio.
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.
09/14/17
MACQ
09/14/17
INITIATION
Target $140
MACQ
Underperform
Boston Beer initiated with an Underperform at Macquarie
Macquarie analyst Caroline Levy initiated Boston Beer with an Underperform and a $140 price target. Levy expects the company to continue to struggle due to its inability to find a significant new niche in the market, a weaker craft beer category, and increased competition from a "flood" of new entrants.
09/26/17
FBCO
09/26/17
UPGRADE
Target $150
FBCO
Neutral
Boston Beer upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse analyst Laurent Grandet upgraded Boston Beer to Neutral and raised his price target for the shares to $150 from $140. The market sentiment remains "overly negative," which creates a more balanced spread between upside and downside scenarios, Grandet tells investors in a research note. Further, the analyst believes the likelihood of a takeout "goes higher" if Samuel Adams rejuvenation efforts ultimately fail next year.
BTI British American Tobacco
$62.01

0.02 (0.03%)

09/26/17
COWN
09/26/17
UPGRADE
COWN
Outperform
British American Tobacco upgraded to Outperform at Cowen
As reported previously, Cowen analyst Vivien Azer upgraded British American Tobacco (BTI) to Outperform from Market Perform as she views the weakness from FDA risk and foreign exchange movements as having created an attractive entry point. She said given its consistent market share gains and earnings growth, the stock's discount to Philip Morris (PM) looks overdone.
09/26/17
COWN
09/26/17
UPGRADE
COWN
Outperform
British American Tobacco upgraded to Outperform from Market Perform at Cowen
08/11/17
GSCO
08/11/17
INITIATION
GSCO
Neutral
British American Tobacco reinstated with a Neutral at Goldman Sachs

TODAY'S FREE FLY STORIES

TECK

Teck Resources

$29.75

-0.58 (-1.91%)

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CMG

Chipotle

$305.63

18.98 (6.62%)

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Chipotle

$305.63

18.98 (6.62%)

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H

Hyatt

$79.73

-0.02 (-0.03%)

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  • 25

    Mar

FLS

Flowserve

$44.05

1.18 (2.75%)

22:07
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  • 22

    Feb

FLS

Flowserve

$44.05

1.18 (2.75%)

22:07
02/19/18
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22:07
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  • 22

    Feb

ANAB

AnaptysBio

$126.45

6.59 (5.50%)

, SNY

Sanofi

$39.91

0.19 (0.48%)

20:02
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02/19
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Hot Stocks
On The Fly: Top five weekend stock stories »

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$126.45

6.59 (5.50%)

SNY

Sanofi

$39.91

0.19 (0.48%)

REGN

Regeneron

$332.15

-1.03 (-0.31%)

SNAP

Snap

$20.42

0.67 (3.39%)

GE

General Electric

$15.05

0.2 (1.35%)

DIS

Disney

$106.53

1.35 (1.28%)

GOOG

Alphabet

$1,094.80

5.28 (0.48%)

GOOGL

Alphabet Class A

$1,095.50

4.14 (0.38%)

LRCX

Lam Research

$187.91

2.2 (1.18%)

C

Citi

$76.82

-0.26 (-0.34%)

CMI

Cummins

$165.60

0.58 (0.35%)

JPM

JPMorgan

$114.68

-0.83 (-0.72%)

JNJ

Johnson & Johnson

$133.15

1.92 (1.46%)

WMT

Walmart

$104.78

1.55 (1.50%)

PFE

Pfizer

$36.26

0.55 (1.54%)

CSCO

Cisco

$44.33

0.25 (0.57%)

ABBV

AbbVie

$118.60

3.7 (3.22%)

PEP

PepsiCo

$111.06

0.09 (0.08%)

MMM

3M

$236.67

1.8 (0.77%)

BMY

Bristol-Myers

$68.96

-0.02 (-0.03%)

UTX

United Technologies

$129.26

-0.74 (-0.57%)

TXN

Texas Instruments

$104.47

-0.1 (-0.10%)

ABT

Abbott

$60.17

0.67 (1.13%)

HOV

Hovnanian

$2.24

0.12 (5.66%)

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    Oct

CUB

Cubic

19:34
02/19/18
02/19
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Hot Stocks
Cubic names president, CEO Bradley Feldmann as Chairman of the Board »

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  • 19

    Feb

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  • 14

    Jun

HCLP

Hi-Crush Partners

$12.40

0.25 (2.06%)

19:10
02/19/18
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Earnings
Breaking Earnings news story on Hi-Crush Partners »

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  • 20

    Feb

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HCLP

Hi-Crush Partners

$12.40

0.25 (2.06%)

19:08
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Earnings
Hi-Crush Partners reports Q4 diluted EPS 47c, consensus 51c »

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  • 20

    Feb

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FSS

Federal Signal

$19.40

0.15 (0.78%)

19:04
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Federal Signal declares dividend of 7c per share »

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BCE

BCE

$44.49

-0.02 (-0.04%)

19:03
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BCE reports results of Series AC, AD Preferred Share conversions »

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  • 26

    Feb

PRGX

PRGX Global

$7.95

0.35 (4.61%)

18:38
02/19/18
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PRGX Global announces appointment of new Chief Product Officer »

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  • 23

    May

CRMT

America's Car-Mart

$46.25

0.6 (1.31%)

18:37
02/19/18
02/19
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18:37
Earnings
America's Car-Mart reports Q3 revenue $$147M, consensus $136.24M »

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  • 20

    Feb

TAX

Liberty Tax

18:30
02/19/18
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18:30
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Liberty Tax Service taps Nicole Ossenfort to be CEO »

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TAX

Liberty Tax

18:29
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18:29
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Shaun York to be Chief Operating Officer for Liberty Tax Service »

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TAX

Liberty Tax

18:28
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18:28
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Liberty Tax names Ryan Dodson Chief Strategy Officer »

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HLX

Helix Energy

18:27
02/19/18
02/19
18:27
02/19/18
18:27
Earnings
Helix Energy reports Q4 EPS 34c, may not compare consensus (1C) »

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  • 20

    Feb

EMES

Emerge Energy

$7.77

0.12 (1.57%)

, CNI

Canadian National

$76.18

-0.68 (-0.88%)

18:17
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02/19
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18:17
Hot Stocks
Emerge Energy Services responds to industry-wide railroad service issues »

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EMES

Emerge Energy

$7.77

0.12 (1.57%)

CNI

Canadian National

$76.18

-0.68 (-0.88%)

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WM

Waste Management

$85.15

1.13 (1.34%)

18:09
02/19/18
02/19
18:09
02/19/18
18:09
Hot Stocks
Waste Management announces cash dividend »

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BRK.A

Berkshire Hathaway

$306,000.00

1.01 (0.00%)

, BRK.B

Berkshire Hathaway

$203.79

-0.11 (-0.05%)

18:07
02/19/18
02/19
18:07
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18:07
Hot Stocks
JM announces Eric Cremer as New Chief Human Resources Officer »

Johns Manville, a…

BRK.A

Berkshire Hathaway

$306,000.00

1.01 (0.00%)

BRK.B

Berkshire Hathaway

$203.79

-0.11 (-0.05%)

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