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ABBV

AbbVie

$87.28

2.53 (2.99%)

, MKC

McCormick

$100.82

4.37 (4.53%)

09:55
09/28/17
09/28
09:55
09/28/17
09:55

Early notable gainers among liquid option names on September 28th

Notable gainers among liquid option names this morning include AbbVie (ABBV) $89.49 +4.74, McCormick (MKC) $101.25 +4.78, Abbott (ABT) $54.26 +2.11, Transocean (RIG) $10.84 +0.41, and Frontier Communications (FTR) $12.84 +0.47.

ABBV

AbbVie

$87.28

2.53 (2.99%)

MKC

McCormick

$100.82

4.37 (4.53%)

ABT

Abbott

$54.27

2.12 (4.07%)

RIG

Transocean

$10.66

0.23 (2.21%)

FTR

Frontier Communications

$12.37

0.17 (1.39%)

  • 28

    Sep

  • 02

    Oct

  • 18

    Oct

  • 08

    Nov

ABBV AbbVie
$87.28

2.53 (2.99%)

09/25/17
JEFF
09/25/17
NO CHANGE
Target $200
JEFF
Buy
Jefferies explains how Amgen can re-rate higher like AbbVie
Jefferies analyst Michael Yee believes the 2018-2020 consensus estimates for Amgen (AMGN) may be too low if Mylan's (MYL) biosimilar of Neulasta doesn't get approved next month. The Biosimilar User Fee Act date is October 9. Investors may become more confident in the durability of Amgen's franchise given that AbbVie (ABBV) defended Humira and re-rated to a higher valuation, Yee tells investors in a research note. The key issue keeping Amgen's price-to-earnings multiple below peers at 12 to 13 times over the past couple of years is investor fear of biosimilars primarily against Neulasta and Enbrel, Yee argues. He sees a failed approval for Mylan as setting the tone for a higher multiple like AbbVie. The analyst has a Buy rating on Amgen shares with a $200 price target.
09/25/17
09/25/17
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. Under Armour (UAA) downgraded to Neutral from Buy at Guggenheim. 2. VF Corp. (VFC) downgraded to Sector Weight from Overweight at KeyBanc with analyst Edward Yruma saying the company's "consistent" results are adequately reflected in the current valuation. 3. Quest Diagnostics (DGX) downgraded to Market Perform from Outperform at Raymond James with analyst Nicholas Jansen citing the preliminary 2018 Clinical Laboratory Fee Schedule, or CLFS, rates released Friday evening, which creates an overhang. 4. AbbVie (ABBV) downgraded to Neutral from Buy at UBS with analyst Marc Goodman saying that shares are up 40% year-to-date. 5. Albemarle (ALB) downgraded to Neutral from Outperform at Baird with analyst Ben Kallo saying he thinks near-term execution is largely priced into the stock and he believes the shares are fully valued at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/17
FBCO
09/27/17
NO CHANGE
Target $17
FBCO
Outperform
Coherus Biosciences price target lowered to $17 from $24 at Credit Suisse
Credit Suisse analyst Alethia Young lowered her price target for Coherus Biosciences (CHRS) to $17 from $24 as she is pushing her worldwide launch timeline assumption to 2022 from 2020 for the biosimilar Humira from AbbVie (ABBV). The analyst reiterates an Outperform rating on Coherus Biosciences shares.
09/28/17
JEFF
09/28/17
NO CHANGE
Target $107
JEFF
Buy
AbbVie Humira settlement increases visibility, says Jefferies
Jefferies analyst Jeffrey Holford said AbbVie's (ABBV) settlement of its patent fight with Amgen (AMGN) over Humira provides incremental reassurance that biosimilars are unlikely to launch in the U.S. before 2023. While there will still be "noise" on this issue given the many biosimilar developers, he recommends investors focus on AbbVie's pipeline, whose value should become more visible within the next year. Holford keeps a Buy rating and $107 price target on AbbVie shares.
MKC McCormick
$100.82

4.37 (4.53%)

06/16/17
GSCO
06/16/17
INITIATION
Target $101
GSCO
Neutral
McCormick initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Adam Samuelson started McCormick with a Neutral rating and $101 price target. The analyst views the valuation as full and believes e-commerce disruption risk is high.
06/16/17
06/16/17
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. Hasbro (HAS) initiated with a Buy at Argus. 2. Kindred Biosciences (KIN) initiated with a Buy at Aegis. 3. Stanley Black & Decker (SWK) was initiated with a Buy at Seaport Global and resumed with an Outperform at Raymond James. 4. McCormick (MKC) initiated with a Neutral at Goldman Sachs. 5. Texas Instruments (TXN) resumed with a Market Perform 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.
06/30/17
FBCO
06/30/17
NO CHANGE
Target $108
FBCO
Outperform
McCormick sets up for 'beat-and-raise' Q3 report, says Credit Suisse
Credit Suisse analyst Robert Moskow said he was surprised by the negative reaction in McCormick shares following the company's Q2 report and reiteration of its FY17 earnings outlook. He thinks strong volume growth, international price increases and easier gross margin comparisons will drive Q3 results and give management sufficient visibility to raise its earnings guidance at that time. The analyst, who notes that his $4.53 EPS estimate for 2018 is well above consensus, keeps an Outperform rating on McCormick shares.
07/28/17
JEFF
07/28/17
UPGRADE
Target $110
JEFF
Buy
McCormick upgraded to Buy from Hold at Jefferies
Jefferies analyst Akshay Jagdale upgraded McCormick to Buy and raised his price target for the shares to $110 from $95. The analyst believes the recent underperformance provides a good entry point and thinks the RB Foods acquisition will accelerate earnings growth .
ABT Abbott
$54.27

2.12 (4.07%)

09/28/17
BMOC
09/28/17
NO CHANGE
BMOC
Dexcom price target lowered to $62 from $90 at BMO Capital
BMO Capital analyst JoanneK.Wuensch lowered her price target on Dexcom (DXCM) after Abbott (ABT) received FDA approval for a competing product. The analyst says the approval was unexpected, but she says that Dexcom's product is "materially superior." She thinks that the company's "long-term growth story remains intact," and she keeps an Outperform rating on the shares.
09/28/17
COWN
09/28/17
NO CHANGE
Target $64
COWN
Outperform
Dexcom price target lowered to $64 from $90 at Cowen
Cowen analyst Doug Schenkel lowered his price target on Dexcom (DXCM) to $64 from $90 and lowered his estimates to reflect the approval of the Abbott (ABT) Libre, with a dosing claim, at least a year earlier than expected. The claim is important because it is a precursor for CMS reimbursement, said Schenkel. He keeps his Outperform rating on Dexcom pending additional details and based on the magnitude of its glucose monitoring opportunity.
09/28/17
NORL
09/28/17
DOWNGRADE
Target $60
NORL
Market Perform
Dexcom downgraded to Market Perform from Outperform at Northland
Northland analyst Suraj Kalia downgraded Dexom (DXCM) to Market Perform and cut its price target to $60 from $85 following the surprise PMA approval of Abbott's (ABT) Libre flash glucose monitor for a 10-day use. The analyst said Libre received a concomitant nonadjunctive to fingersticks label, which came as a surprise, and removes a key competitive advantage for Dexcom.
09/28/17
WBLR
09/28/17
NO CHANGE
WBLR
Outperform
William Blair sees Dexcom retaining advantage over Abbott
William Blair analyst Margaret Kaczor says that while she didn't think Abbott's (ABT) Libre Flash Glucose Monitoring device would receive a dosing claim given the product's "inferior accuracy," Libre still lacks DexCom's (DXCM) alerts and alarms that proactively protect the patient from glycemic excursions. Libre's dosing may shift the competitive dynamic "modestly in Abbott's favor versus Street expectations," but more importantly, its approval should be market expansive as it creates a new type of glucose monitoring category in the United States, Kaczor tells investors in a research note. The analyst believes DexCom will retain a "material technological and brand advantage." Further, the company has a "rich product pipeline" including its own 10-day G6 sensor that is nearing approval, the analyst adds. She keeps an Outperform rating on Dexcom. Kaczor thinks the stock, at last night's price between $55 and $56, adequately prices in risk of share loss in the category. Dexcom in premarket trading is down 29% to $47.93.
RIG Transocean
$10.66

0.23 (2.21%)

09/25/17
09/25/17
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. General Motors (GM) upgraded to Buy from Hold at Deutsche Bank with analyst Rod Lache saying GM's autonomous vehicles will be ready for commercial deployment, without human drivers, much sooner than widely expected and possibly years ahead of competitors. 2. Ross Stores (ROST) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying he left meetings with management more positive on the off-price sector and believes the company is well positioned for double-digit growth. 3. Under Armour (UA, UAA) upgraded to Overweight from Sector Weight at KeyBanc with analyst Edward Yruma saying the addition of a new chief operating officer along with a renewed focus on improving financial performance point to a near-term inflection for the shares. 4. Transocean (RIG) upgraded to Buy from Neutral at UBS with analyst Angie Sedita citing "early signs of a slow recovery." 5. Box (BOX) upgraded to Outperform from Market Perform at Raymond James with analyst Brian Peterson saying risk/reward is compelling at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/25/17
UBSW
09/25/17
UPGRADE
UBSW
Buy
Transocean upgraded to Buy from Neutral at UBS
UBS analyst Angie Sedita upgraded Transocean and other offshore drillers to Buy citing "early signs of a slow recovery." The analyst believes a bottom has been reached in offshore utilization for both floaters and jackups and that demand will slowly move higher in 2018. She views current valuations in the space as compelling and raised her price target for Transocean shares to $15 from $9.
09/01/17
CLKS
09/01/17
UPGRADE
CLKS
Buy
Transocean upgraded to Buy from Neutral at Clarksons Platou
08/31/17
08/31/17
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. FMC Corporation (FMC) upgraded to Buy from Underperform at BofA/Merrill with analyst Steve Byrne double upgrading FMC following survey results that indicate ag sales are likely to increase 1-3% rather than decline 1-3%, as previously expected. 2. Owens Corning (OC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Stephen East saying he sees an "inexpensive valuation" versus peers and has increased comfort in Owens' ability to achieve or surpass this year's targets. Hurricane Harvey is a boost to the company's roofing business, but its insulation replacement "may be the bigger winner," East tells investors. 3. ChannelAdvisor (ECOM) upgraded to Overweight from Equal-Weight at First Analysis with analyst Lawrence Berlin citing increased confidence in the company's ability to accelerate growth and hit its mid-teen growth targets after meeting with management. 4. Abercrombie & Fitch (ANF) upgraded to Sector Perform from Underperform at RBC Capital with analyst Brian Tunick saying a return to profitability in the second half of 2017 is more likely following Q2 results that suggest that turnaround efforts are yielding results faster than anticipated. 5. Transocean (RIG) upgraded to Overweight from Equalweight at Capital One with analyst Joseph Gibney saying the group is exhibiting some modest "green shoots" and sees upside to Transocean on a relative basis even in a long/measured recovery and some semblance of contracting pickup. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FTR Frontier Communications
$12.37

0.17 (1.39%)

08/03/17
HDLY
08/03/17
DOWNGRADE
HDLY
Underperform
Frontier Communications downgraded to Underperform at Hilliard Lyons
Hilliard Lyons analyst David Burks downgraded Frontier to Underperform from Neutral.
05/08/17
JPMS
05/08/17
NO CHANGE
JPMS
Overweight
TiVo deal with Frontier a 'major positive,' says JPMorgan
JPMorgan analyst Sterling Auty views TiVo's (TIVO) multi-year product deal and IP licensing portfolio renewal with Frontier Communications (FTR) as a "major positive." The analyst believes TiVo's positive momentum is not reflected in its share price. The stock remains undervalued, Auty tells investors in a research note.
05/03/17
COWN
05/03/17
DOWNGRADE
Target $2
COWN
Market Perform
Frontier Communications downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Gregory Williams downgraded Frontier Communications to Market Perform from Outperform as he believes the dividend cut solves little of the fundamental issues facing the company. Although the cut will provide financial flexibility he finds it difficult to recommend a stock that is set up for what may be downward revisions in free cash flow guidance. Williams lowered his price target to $2 from $4 on Frontier Communications shares.
05/03/17
COWN
05/03/17
DOWNGRADE
COWN
Market Perform
Frontier Communications downgraded to Market Perform from Outperform at Cowen

TODAY'S FREE FLY STORIES

SHLX

Shell Midstream

$26.61

-0.44 (-1.63%)

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AGN

Allergan

$187.15

-10.63 (-5.37%)

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BOLD

Audentes Therapeutics

$25.41

0.31 (1.24%)

08:50
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Conference/Events
William Blair biotech analyst holds an analyst/industry conference call »

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  • 20

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General news
U.S. initial jobless claims dropped 22k to 222k in the October 14 week »

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GATX

GATX

$64.28

0.33 (0.52%)

08:48
10/19/17
10/19
08:48
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08:48
Earnings
GATX reports Q3 EPS $1.25, consensus 97c »

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  • 19

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ABT

Abbott

$55.77

0.71 (1.29%)

08:48
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10/19
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Recommendations
Abbott analyst commentary  »

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VZ

Verizon

$48.65

0.25 (0.52%)

08:47
10/19/17
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Hot Stocks
Verizon says wireless service revenue to improve by end of 2017 »

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  • 19

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SGMS

Scientific Games

$42.85

0.1 (0.23%)

08:47
10/19/17
10/19
08:47
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Hot Stocks
Scientific Games' casino management system selected by Snoqualmie Casino »

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  • 08

    Nov

AAOI

Applied Optoelectronics

$42.29

-1.45 (-3.32%)

, XME

SPDR S&P Metals & Mining

$32.73

0.15 (0.46%)

08:45
10/19/17
10/19
08:45
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08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

AAOI

Applied Optoelectronics

$42.29

-1.45 (-3.32%)

XME

SPDR S&P Metals & Mining

$32.73

0.15 (0.46%)

CBI

CB&I

$15.85

-0.19 (-1.18%)

03/08/13
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  • 07

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08:45
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08:45
General news
Treasury Action: yields stabilized above lows »

Treasury Action: yields…

HRL

Hormel Foods

$31.34

-0.17 (-0.54%)

08:44
10/19/17
10/19
08:44
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08:44
Recommendations
Hormel Foods analyst commentary  »

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AAPL

Apple

$159.76

-0.71 (-0.44%)

, HNHPF

Hon Hai Precision

$7.49

0.412 (5.82%)

08:44
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10/19
08:44
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08:44
Periodicals
Apple, suppliers fall after report of reduced iPhone 8 orders, Bloomberg says »

Shares of Apple (AAPL)…

AAPL

Apple

$159.76

-0.71 (-0.44%)

HNHPF

Hon Hai Precision

$7.49

0.412 (5.82%)

03/08/13
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  • 22

    Oct

  • 02

    Nov

GALT

Galectin Therapeutics

$2.51

0.22 (9.61%)

08:44
10/19/17
10/19
08:44
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08:44
Initiation
Galectin Therapeutics initiated  »

Galectin Therapeutics…

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MDGL

Madrigal Pharmaceuticals

$47.52

0.51 (1.08%)

08:42
10/19/17
10/19
08:42
10/19/17
08:42
Initiation
Madrigal Pharmaceuticals initiated  »

Madrigal Pharmaceuticals…

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  • 22

    Oct

RMBL

RumbleON

$9.30

0.3 (3.33%)

08:42
10/19/17
10/19
08:42
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08:42
Syndicate
RumbleON 2.91M share Secondary priced at $5.50 »

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  • 19

    Oct

XPO

XPO Logistics

$64.76

0.12 (0.19%)

08:40
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Department of Defense boosts XPO contract by $139.5M to $2.32B »

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  • 02

    Nov

GEMP

Gemphire Therapeutics

$9.54

-0.08 (-0.83%)

08:40
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Initiation
Gemphire Therapeutics initiated  »

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EBAY

eBay

$37.97

0.48 (1.28%)

08:39
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eBay analyst commentary  »

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GPC

Genuine Parts

$98.04

1.18 (1.22%)

08:39
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Hot Stocks
Genuine Parts announces two industrial and automotive acquisitions »

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  • 19

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    Oct

BANR

Banner Corp.

$61.29

0.54 (0.89%)

, PUB

People's Utah Bancorp

$32.85

0.2 (0.61%)

08:38
10/19/17
10/19
08:38
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08:38
Conference/Events
People's Utah Bancorp to hold a conference call »

Management discusses…

BANR

Banner Corp.

$61.29

0.54 (0.89%)

PUB

People's Utah Bancorp

$32.85

0.2 (0.61%)

03/08/13
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  • 26

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  • 09

    Nov

MTG

MGIC Investment

$13.54

0.43 (3.28%)

08:37
10/19/17
10/19
08:37
10/19/17
08:37
Recommendations
MGIC Investment analyst commentary  »

MGIC Investment price…

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ADBE

Adobe

$153.00

2.62 (1.74%)

08:37
10/19/17
10/19
08:37
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08:37
Recommendations
Adobe analyst commentary  »

Adobe price target raised…

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  • 22

    Oct

  • 06

    Nov

IFMK

iFresh

$12.15

-0.1 (-0.82%)

08:37
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10/19
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iFresh announces exclusive agreement with Dragon Seeds »

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CRBP

Corbus Pharmaceuticals

$7.00

-0.05 (-0.71%)

08:36
10/19/17
10/19
08:36
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08:36
Technical Analysis
Technical View: Corbus Pharmaceuticals surges on anabasum Phase 2 results »

The stock was last up…

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CLS

Celestica

$12.33

0.01 (0.08%)

08:35
10/19/17
10/19
08:35
10/19/17
08:35
Hot Stocks
Celestica appoints Mandeep Chawla as CFO »

Celestica announced the…

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