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GRUB

GrubHub

$51.62

-0.54 (-1.04%)

10:39
10/13/17
10/13
10:39
10/13/17
10:39

GrubHub impact from Facebook online food delivery minimal, says KeyBanc

KeyBanc said Facebook (FB) is growing its presence in online food ordering/delivery by partnering with several third-party aggregators and online ordering software vendors. The firm's analyst said the headlines are a negative for GrubHub but fundamentally the impact will be small.

GRUB GrubHub
$51.62

-0.54 (-1.04%)

09/26/17
WEDB
09/26/17
NO CHANGE
Target $60
WEDB
Outperform
Wedbush remains bullish on GrubHub despite Amazon competition
Wedbush analyst Aaron Turner maintains his long-term bullish view on shares of GrubHub (GRUB) and believes it is best positioned to benefit from the secular shift to digital in the restaurant take-out and delivery market. The analyst thinks Amazon (AMZN) is a "formidable opponent" for GrubHub and its recent partnership with Olo represents its continued commitment to the space. However, Turner believes the lack of wide-spread adoption of the Amazon restaurants platform by non-chains and the lack of prominence of the restaurants offering within its app continue to hamper diner adoption. Ultimately, he sees the market opportunity as large enough to support multiple businesses with GrubHub leading the way. The analyst reiterated an Outperform rating on GrubHub's shares, but lowered his price target on the stock to $60 from $63.
10/04/17
KEYB
10/04/17
NO CHANGE
Target $54
KEYB
Overweight
KeyBanc sees Yelp as underappreciated
KeyBanc analyst Brad Erickson says that checks with service providers and restaurants have him incrementally positive that Yelp's (YELP) positioning versus the competition is "strong" and that restaurants' appetite for local ad spending could improve once the GrubHub (GRUB)/Eat24 deal closes. Steady execution against a conservative outlook could drive this multiple higher, he contends, adding that he remains a buyer of Yelp. Erickson reiterates an Overweight rating and $54 price target on Yelp's shares.
10/05/17
SBSH
10/05/17
DOWNGRADE
Target $56
SBSH
Neutral
GrubHub downgraded to Neutral from Buy at Citi
Citi analyst Mark May downgraded GrubHub to Neutral citing valuation with the shares up 44% year-to-date. Shares are up $6 since GrubHub announced the acquisition of Eat24 from Yelp, May tells investors in a research note. His analysis, however, suggests that the transaction, as well as the smaller pending Foodler and OrderUp acquisitions, is only worth $4 per share to GrubHub's equity. The analyst raised his price target for the stock to $56 from $52.
10/05/17
10/05/17
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. Mallinckrodt (MNK) downgraded to Hold from Buy at Canaccord with analyst Dewey Steadman saying he sees a lack of near-term catalysts and believes the story will take time to evolve. 2. GrubHub (GRUB) downgraded to Neutral from Buy at Citi with analyst Mark May citing valuation with the shares up 44% year-to-date. 3. Coach (COH) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the stock is likely to enter a "period of digestion" as the company integrates Kate Spade and as investors "grapple with" its new reporting structure. 4. PNC Financial (PNC) downgraded to Equal Weight from Overweight at Stephens with analyst Terry McEvoy saying he views the shares as fairly valued following the stock's outperformance relative to Super Regional bank peers year-to-date. 5. Six Flags (SIX) downgraded to Long-Term Buy from Buy at Hilliard Lyons with analyst Jeffrey Thomison citing recent share appreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SHLX

Shell Midstream

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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%)

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  • 20

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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%)

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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%)

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VZ

Verizon

$48.65

0.25 (0.52%)

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SGMS

Scientific Games

$42.85

0.1 (0.23%)

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  • 08

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AAOI

Applied Optoelectronics

$42.29

-1.45 (-3.32%)

, XME

SPDR S&P Metals & Mining

$32.73

0.15 (0.46%)

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Options
Largest borrow rate increases among liquid names »

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AAOI

Applied Optoelectronics

$42.29

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XME

SPDR S&P Metals & Mining

$32.73

0.15 (0.46%)

CBI

CB&I

$15.85

-0.19 (-1.18%)

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  • 07

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General news
Treasury Action: yields stabilized above lows »

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HRL

Hormel Foods

$31.34

-0.17 (-0.54%)

08:44
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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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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

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0.412 (5.82%)

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  • 22

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GALT

Galectin Therapeutics

$2.51

0.22 (9.61%)

08:44
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Initiation
Galectin Therapeutics initiated  »

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MDGL

Madrigal Pharmaceuticals

$47.52

0.51 (1.08%)

08:42
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Initiation
Madrigal Pharmaceuticals initiated  »

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  • 22

    Oct

RMBL

RumbleON

$9.30

0.3 (3.33%)

08:42
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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%)

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  • 02

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GEMP

Gemphire Therapeutics

$9.54

-0.08 (-0.83%)

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EBAY

eBay

$37.97

0.48 (1.28%)

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eBay analyst commentary  »

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GPC

Genuine Parts

$98.04

1.18 (1.22%)

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  • 19

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BANR

Banner Corp.

$61.29

0.54 (0.89%)

, PUB

People's Utah Bancorp

$32.85

0.2 (0.61%)

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

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BANR

Banner Corp.

$61.29

0.54 (0.89%)

PUB

People's Utah Bancorp

$32.85

0.2 (0.61%)

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  • 26

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MTG

MGIC Investment

$13.54

0.43 (3.28%)

08:37
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MGIC Investment analyst commentary  »

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ADBE

Adobe

$153.00

2.62 (1.74%)

08:37
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  • 22

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IFMK

iFresh

$12.15

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CRBP

Corbus Pharmaceuticals

$7.00

-0.05 (-0.71%)

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CLS

Celestica

$12.33

0.01 (0.08%)

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