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BAC

Bank of America

$25.87

0.42 (1.65%)

, WFC

Wells Fargo

$53.61

-1.6 (-2.90%)

16:14
10/13/17
10/13
16:14
10/13/17
16:14

On The Fly: Top stock stories for Friday

Stocks opened in positive territory and remained there throughout the day. The University of Michigan consumer confidence reading was above 100, topping expectations and fortifying the market's small upside move. Several more banks will be reporting to begin next week as the pace of earnings reporting is set to pick up significant steam. ECONOMIC EVENTS: In the U.S., the preliminary University of Michigan survey for October showed consumer sentiment surged 6.0 points to a 13-year high reading of 101.1. business inventories rose 0.7% in August, with sales up 0.7% as well, as forecast. Retail sales surged in September, as expected, with a 1.6% headline rise and a 1.0% ex-auto gain both coming in a little stronger than forecast. The Consumer Prices Index rose 0.5%, with the core rate up 0.1% in September, which was not as hot as feared. In energy news, Baker Hughes reported that the U.S. rig count is down 8 rigs from last week to 928. COMPANY NEWS: Shares of Bank of America (BAC) rose 1.55% after the lender's headline earnings topped expectations and it noted that its revenue across its four lines of business grew 4%. Conversely, Wells Fargo (WFC) slipped 2.72% after its earnings missed expectations due to accruals for legal charges related to its pre-crisis mortgage-related regulatory investigations... Insurers and hospital operators were pressured after President Trump announced plans to cut off subsidy payments to insurers selling Affordable Care Act Coverage, a decision which leaked out after he signed an executive order pushing for new regulations to support cheap, loosely regulated health plans. Centene (CNC) was among the hardest hit on the news, though Morgan Stanley analyst Zack Sopcak said he views today's weakness in Centene as particularly "exaggerated" and presents a buying opportunity... Meanwhile, Bloomberg reported that Qualcomm (QCOM) has filed lawsuits in China seeking to ban the sale and manufacturing of Apple (AAPL) iPhones in the country where most iPhones are made... In addition, Nikkei Asian Review reported that SoftBank (SFTBF) has reached a broad agreement to combine Sprint (S), of which it owns 83%, with T-Mobile (TMUS), which is 64% owned by Deutsche Telekom (DTEGY). A deal could be announced as early as this month, Nikkei reported. MAJOR MOVERS: Among the noteworthy gainers was Spartan Motors (SPAR), which rallied 4.4% after Craig-Hallum analyst Steven Dyer raised his price target on the shares to $20 from $13. Also higher was HP Inc. (HPQ), which gained 6.45% after the company provided better-than-expected adjusted earnings per share guidance for fiscal 2018. Among the notable losers was Antares Pharma (ATRS), which plunged 37.8% after it said that that the FDA has identified deficiencies that preclude the continuation of the discussion of labeling and postmarketing requirements/commitments of XYOSTED for testosterone replacement therapy. Also lower was Applied Optoelectronics (AAOI), which fell 20.11% after reporting third quarter preliminary results that fell short of estimates. INDEXES: The Dow rose 30.71, or 0.13%, to 22,871.72, the Nasdaq gained 14.29, or 0.22%, to 6,605.80, and the S&P 500 advanced 2.24, or 0.09%, to 2,553.17.

BAC

Bank of America

$25.87

0.42 (1.65%)

WFC

Wells Fargo

$53.61

-1.6 (-2.90%)

CNC

Centene

$90.62

-3.065 (-3.27%)

QCOM

Qualcomm

$52.82

-0.18 (-0.34%)

AAPL

Apple

$156.99

0.99 (0.63%)

SFTBF

SoftBank

$88.90

1.6 (1.83%)

S

Sprint

$7.12

-0.025 (-0.35%)

TMUS

T-Mobile

$61.39

0.11 (0.18%)

DTEGY

Deutsche Telekom

$18.27

0.07 (0.38%)

SPAR

Spartan Motors

$15.35

0.65 (4.42%)

HPQ

HP Inc.

$21.69

1.285 (6.30%)

ATRS

Antares Pharma

$2.32

-1.41 (-37.80%)

AAOI

Applied Optoelectronics

$47.01

-11.83 (-20.11%)

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BAC Bank of America
$25.87

0.42 (1.65%)

07/18/17
NOMU
07/18/17
NO CHANGE
Target $27
NOMU
Buy
Bank of America NII softness could weight on shares, says Nomura Instinet
Nomura Instinet analyst Steven Chubak said Bank of America reported a modest core beat but the NII miss and elevated bar for Q3 could result in modest share underperformance. The analyst remains encouraged by fee income resiliency, favorable credit trends, strong capital build, and compelling risk/reward, and reiterates his Buy rating and $27 price target.
07/11/17
BARD
07/11/17
NO CHANGE
BARD
Big bank set-up not great, would sell into extended rally, says Baird
Baird analyst David George does not see a great set-up for money-center banks heading into Q2 earnings. He said the trade looks crowded and he would be a seller into an extended rally. George said the risk/reward is less attractive following the sector's most recent rally as economic growth remains muted and the pace of NIM expansion may slow. George believes the biggest potential catalyst would be a gradual steepening of the yield curve and pick-up on loan growth.
06/09/17
RBCM
06/09/17
NO CHANGE
RBCM
House financial reform bill unlikely to advance in Senate, says RBC Capital
RBC Capital analyst Gerard Cassidy says that the financial regulation reform bill passed yesterday by the House would help the banking sector but probably won;t be passed by the Senate. Large publicly traded banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
08/09/17
WELS
08/09/17
INITIATION
WELS
Outperform
Bank of America resumed with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Bank of America with an Outperform rating and $30 price target.
WFC Wells Fargo
$53.61

-1.6 (-2.90%)

09/26/17
DBAB
09/26/17
DOWNGRADE
Target $136
DBAB
Hold
PNC Financial downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Matt O'Connor downgraded PNC Financial (PNC) to Hold as he seeks to lessen exposure to traditional banks. The analyst sees net interest income growth slowing and credit costs inching up as the Fed raises short rates and the yield curve flattens. He believes a number of positives are priced into PNC shares. O'Connor upped his price target for the stock to $136 from $130. The analyst continues to prefer banks with a "turnaround angle," like Goldman Sachs (GS) and Wells Fargo (WFC), and remains positive on capital markets businesses like Morgan Stanley (MS). O'Connor this morning also downgraded JPMorgan (JPM) to Hold.
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.
10/06/17
VERF
10/06/17
INITIATION
VERF
Sell
Wells Fargo initiated with a Sell at Vertical Group
Vertical Group analyst Richard Bove initiated earlier shares of Wells Fargo with a Sell rating and $49.67 price target.
09/28/17
NOMU
09/28/17
DOWNGRADE
NOMU
Neutral
U.S. Bancorp downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Bill Carcache downgraded U.S. Bancorp (USB) to Neutral saying he sees downside risk to net interest income and provision expectations. Consensus expects U.S. Bancorp's loan growth to accelerate to 6% by 2018, which is too optimistic given the bank's recent comments, the analyst contends. He lowered his price target for the shares to $55 from $57. Carcache remains bullish on Wells Fargo (WFC) and raised his price target for the shares to $65 from $64.
CNC Centene
$90.62

-3.065 (-3.27%)

10/13/17
10/13/17
NO CHANGE
Target $103

Overweight
Morgan Stanley sees Centene pullback on Trump ACA order as buying opportunity
As previously reported, Morgan Stanley analyst Zack Sopcak said he views today's weakness in Centene shares following President Trump's executive order to cut off ACA subsidy payments as a buying opportunity, highlighting three reasons that the move lower is particularly "exaggerated." First, New York AG Eric Schneiderman has said his state and a coalition of other, including California, plan to sue if subsidies were cut off, so the legal fight may delay the impact. Second, Centene has previously said it submitted two bids in most markets; one assuming Cost Sharing Reduction, or CSR, payments, one without. Third, following its pending Fidelis acquisition, he estimates total Centene exposure to exchanges to be about 8%, with roughly 60% of those receiving CSRs. Sopcak reiterate his Overweight rating and $103 price target on Centene, which is down 6% to $88 per share near midday.
10/13/17
MSCO
10/13/17
NO CHANGE
MSCO
Centene weakness a buying opportunity, says Morgan Stanley
10/02/17
BERN
10/02/17
NO CHANGE
BERN
Bernstein does not anticipate ACA fix/repeal before 2018 election
While noting the resignation of Health Secretary Tom Price, Bernstein analyst Lance Wilkes says he does not anticipate an Affordable Care act fix or ACA repeal before the 2018 election. The analyst expects tax reform will "suck the oxygen out of the room" until close to the election. A fix for 2019 is possible, but faces the headwind of the 2018 election campaign, he contends, adding that he believes CSR funding could be included in a trade for the upcoming budget and the Health Insurance Fee could be suspended as part of tax reform, but both are not highly likely at this point. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
10/13/17
LEER
10/13/17
NO CHANGE
LEER
Ending of ACA subsidies most negative for Centene, says Leerink
Leerink analyst Ana Gupte says the shutting off of the cost sharing subsidies on Affordable Care Act exchanges is most negative for Centene (CNC). The company is "highly profitable" on the exchanges at 15% of earnings, Gupte tells investors in a research note. Molina Healthcare (MOH) and Anthem (ANTM) are exposed on the top line but are losing money, the analyst adds. She notes that UnitedHealth (UNH), Humana (HUM) and Aetna (AET) have exited the exchanges while WellCare (WCG) has not been on them. Centene in premarket trading is down 6% to $88.00 while Molina is down 3% to $61.50.
QCOM Qualcomm
$52.82

-0.18 (-0.34%)

09/22/17
RBCM
09/22/17
NO CHANGE
Target $9.5
RBCM
Sector Perform
BlackBerry can use $1.6B of cash on acquisitions, says RBC Capital
RBC Capital analyst Paul Treiber says BlackBerry (BBRY) has $2.36B in cash after the $940M award from Qualcomm (QCOM). The company can use up to $1.6B of the cash on acquisitions, which may be accretive to earnings and the stock price, Treiber tells investors in a research note. He fells an acquisition of a company with organic growth above BlackBerry's targeted 10%-15% software growth "would be a tailwind to BlackBerry's organic growth." Treiber expects in-line Q2 results from BlackBerry on September 28 and keeps a Sector Perform rating on the shares.
09/15/17
09/15/17
UPGRADE
Target $62.5

Outperform
Qualcomm upgraded to Outperform on 3D sensing opportunity at Northland
As previously reported, Northland analyst Tom Sepenzis upgraded Qualcomm (QCOM) to Outperform from Market Perform on expectations for market share gains in 2018, particularly at the high end, as he sees the company and partner Himax (HIMX) as well positioned to become the "de facto leading 3D sensing solution" with Android manufacturers who follow the lead of Apple's (AAPL) new iPhone X. From what he understands, handset makers that want to use its SLiM structured light solution will have to use Qualcomm's next generation Snapdragon chipset too, he tells investors. Sepenzis keeps a $62.50 price target on Qualcomm shares.
09/15/17
NORL
09/15/17
UPGRADE
NORL
Outperform
Qualcomm upgraded to Outperform from Market Perform at Northland
09/15/17
09/15/17
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. Dish (DISH) upgraded to Neutral from Sell at Citi with analyst Jason Bazinet saying the valuation seems fair following the recent weakness in the shares. 2. First Solar (FSLR) upgraded to Buy from Hold at Deutsche Bank with analyst Vishal Shah saying channel checks indicate that "robust" U.S. demand is driving module prices higher. 3. Southwest (LUV) upgraded to Overweight from Neutral at JPMorgan with analyst Jamie Baker saying the recent correction in Southwest shares makes for a "compelling" risk-to-reward profile. 4. Qualcomm (QCOM) upgraded to Outperform from Market Perform at Northland with analyst Tom Sepenzis citing expectations for market share gains in 2018, particularly at the high end, as he sees the company and partner Himax (HIMX) as well positioned to become the "de facto leading 3D sensing solution" with Android manufacturers who follow the lead of Apple's (AAPL) new iPhone X. 5. Harsco (HSC) upgraded to Buy from Hold at Argus with analyst David Coleman saying cost cutting initiatives, returns on prior investments, and improving end market demand have resulted in above Street results in the first half of 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AAPL Apple
$156.99

0.99 (0.63%)

10/12/17
LSCM
10/12/17
NO CHANGE
Target $13
LSCM
Buy
Lake Street checks confirm Apple supply chain issues impacting Himax
Lake Street analyst Jaeson Schmidt says recent channel checks indicate the "well-rumored" supply chain issues at Apple (AAPL) and pushouts at Android manufacturers could create headwinds the rest of this year for Himax Technologies and cause 2018 to be more second half weighted than originally expected. The analyst, while admitting his upgrade of Himax two weeks ago was premature, keeps a Buy rating on the shares. Himax has not lost these sockets, but rather is being impacted by timetable shifts, Schmidt tells investors in a research note. He still believes the 3D sensing market has the potential to drive significant growth for the company longer-term. The analyst lowered his 2017 earnings per share estimate for Himax to 9c from 12c and 2018 estimate to 30c from 38c.
10/11/17
MSCO
10/11/17
NO CHANGE
Target $199
MSCO
Overweight
Apple target raised to $199 on higher U.S. iPhone estimates at Morgan Stanley
Morgan Stanley analyst Katy Huberty said the firm's smartphone survey conducted after Apple's September product launch showed that iPhone retention and "switcher" rates, or the percentage of non-iPhone users expected to move to an iPhone, have increased from the firm's last check in April. Given the new survey data, the firm's estimate of North American iPhone shipments was raised to 74M from 72M units and, keeping the rest of the world unchanged, that drives its global iPhone upgrade forecast to 268M units from 266M. Noting this increased forecast, along with "surprisingly bullish" Apple Watch demand revealed in the survey, Huberty raised her price target on Apple shares to $199 from $194 and keeps an Overweight rating on the stock.
10/11/17
PIPR
10/11/17
NO CHANGE
Target $196
PIPR
Overweight
Piper teen survey shows Apple remains dominant brand
Piper Jaffray analyst Michael Olson says his firm's s bi-annual teen survey shows Apple's place as the dominant device brand among teens remains intact. Of the over 6,000 teens surveyed, 78% have an iPhone, up from 76% in the spring, and 82% anticipate their next phone to be an iPhone, Olson tells investors in a research note. The Apple Watch was the top smartwatch among teens, garnering 12%, with the Samsung Gear next on the list at 2%, the analyst adds. He maintains an Overweight rating on Apple with a $196 price target.
10/13/17
LEHM
10/13/17
NO CHANGE
Target $161
LEHM
Equal Weight
Apple price target raised to $161 from $146 at Barclays
Barclays analyst Mark Moskowitz raised his price target for Apple to $161 while keeping an Equal Weight rating on the shares. Industry and media "noise" over supply chain constraints impacting iPhone AX volumes are likely to persist into the first half of 2018, Moskowitz tells investors in a research note titled "Bring in 'Da Noise, Bring Up 'Da Margin." This should ease by next year's June quarter, however, setting the stage for bigger year-over-year unit growth as well as higher gross margin trends, the analyst adds.
SFTBF SoftBank
$88.90

1.6 (1.83%)

08/14/17
UBSW
08/14/17
NO CHANGE
Target $450
UBSW
Buy
Charter price target raised to $450 from $380 at UBS
UBS analyst John Hodulik raised his price target on Charter to $450 from $380 following his review of potential strategic options for the company. The analyst looked at the increasing M&A speculation and said many of the options come with significantly higher leverage than its current ratio. He believes it can be increased and supported with free cash flow while maintaining its investment grade rating. Hodulik said applying a conservative multiple would suggest significant upside to the shares setting a possible floor for a suitor. Hodulik reiterated his Buy rating on Charter shares.
12/07/16
OPCO
12/07/16
NO CHANGE
Target $70
OPCO
Outperform
T-Mobile price target raised to $70 from $55 at Oppenheimer
Oppenheimer analyst Timothy Horan raised his price target for T-Mobile (TMUS) to $70 from $55 as he views it as the best way to play the deregulatory/technology driven consolidation. The analyst notes that President-Elect Trump met with Masayoshi Son of SoftBank (SFTBF), who agreed to invest $50B in the U.S. Horan believes the meeting will likely be a precursor to a Sprint (S)/T-Mobile/Dish (DISH) merger to create a discounted quad-play service company. The analyst reiterates an Outperform rating on T-Mobile' shares, and points out that the company has improved its network and taken share from AT&T (T)/Verizon (VZ).
09/29/17
09/29/17
NO CHANGE

SoftBank eyes acquisitions to create $300B asset-management arm, Bloomberg says
SoftBank Group (SFTBF) is looking at further acquisitions in the financial sector in an effort to establish a $300B asset management arm that would include its $93B Vision Fund over the next four to five years, Bloomberg reports, citing people familiar with the matter. SoftBank, which agreed to acquire Fortress Investment Group (FIG) for $3.3B in February, is mulling investments in the space such as acquiring traditional investment firms or taking stakes in major private equity shops like KKR (KKR). Reference Link
S Sprint
$7.12

-0.025 (-0.35%)

09/25/17
CHLM
09/25/17
NO CHANGE
CHLM
Initial Apple iPhone 8 likely weaker than previous iPhones, says Craig-Hallum
Craig-Hallum analyst Anthony Stoss says that initial Apple (AAPL) iPhone 8/8 Plus sales are likely weaker than previous generation iPhone launches as consumers wait for the iPhone X set to go on sale for preorders October 27th and live in store's November 3rd. The analyst believes lack of carrier sweetheart deals like with the iPhone 7 launch have led to lower consumer demand, with Sprint (S) being the only carrier currently offering a free 64GB iPhone 8 with eligible trade-in of select devices. Stoss also thinks consumers waiting for the iPhone X is a "strong" positive for STMicroelectronics (STM) as he believes it likely has about $6-$8 in content in the iPhone X versus $3-$4 in the iPhone 8/8 Plus.
09/26/17
JEFF
09/26/17
NO CHANGE
JEFF
Buy
T-Mobile shares could be worth over $90 with Sprint deal, says Jefferies
A merger between T-Mobile (TMUS) and Sprint (S) would make for a much stronger number three player in wireless and bring "massive" synergies, but regulatory approval, while not out of the question, remains uncertain, Jefferies analyst Mike McCormack tells investors in a research note. The analyst's initial pro forma analysis, which assumes an all-stock transaction at current market prices and synergies ramping to a $4.5B run rate in year three, suggests T-Mobile could be worth more than $90 per share in a deal scenario, or 43% above the current price. The stock closed yesterday down $1.17 to $62.89. McCormack also continues to see "significant value" in T-Mobile on a standalone basis. He has a Buy rating on the shares with an $80 price target.
09/27/17
KEYB
09/27/17
UPGRADE
Target $170
KEYB
Overweight
SBA Communications upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Brandon Nispel upgraded SBA Communications (SBAC) to Overweight saying fears surrounding carrier consolidation has created a buying opportunity. Even with potential churn from customer consolidation, SBA's organic growth should accelerate into 2018 and 2019 with "carrier LTE-Advanced investments paving the way for 5G," Nispel tells investors in a research note. He also believes e combined T-Mobile (TMUS) and Sprint (S) would require more sites, not fewer. The analyst established a $170 price target for shares of SBA Communications.
09/28/17
RAJA
09/28/17
NO CHANGE
RAJA
DOJ appointment catalyst for CenturyLink, Level 3 deal, says Raymond James
Makan Delrahim was finally confirmed by the Senate yesterday as head of the Department of Justice Antitrust Division, Raymond James analyst Frank Louthan tells investors in a research note. He believes not having an antitrust head is at least partially to blame for the delay in mergers and acquisitions in the Technology & Communications space this year, including outstanding transactions like CenturyLink (CTL)/Level 3 Communications (LVLT) and AT&T (T)/Time Warner (TWX), as well as potential deals like Sprint (S)/T-Mobile U.S. (TMUS). The appointment of Delrahim is a catalyst for the approval of CenturyLink's acquisition of Level 3, where the Department of Justice has been the bottleneck, Louthan writes.
TMUS T-Mobile
$61.39

0.11 (0.18%)

10/13/17
JPMS
10/13/17
NO CHANGE
Target $225
JPMS
Overweight
Netflix price target raised to $225 from $210 at JPMorgan
JPMorgan analyst Doug Anmuth raised his price target for Netflix (NFLX) shares to $225 ahead of the company's Q3 results on Monday, October 16. The analyst cites the recent price increase as well as the T-Mobile (TMUS) promotion for his higher target. He upped his estimate for Q3 U.S. net subscriber additions to 800,000 from 765,000 but lowered his Q4 estimate to 1.65M from 1.7M as he expects price increase-related churn to potentially offset the T-Mobile promotion. Netflix remains one of Anmuth's top two large-cap picks.
DTEGY Deutsche Telekom
$18.27

0.07 (0.38%)

09/01/17
SBSH
09/01/17
NO CHANGE
Target $77
SBSH
Buy
T-Mobile has upside with or without Sprint merger, says Citi
Citi analyst Michael Rollins says investor feedback has been mixed on the idea of T-Mobile (TMUS) possibly buying Sprint (S) at its current price or a premium. Investors are concerned that stand-alone T-Mobile can repurchase shares and create more value over the next five years without Sprint, Rollins tells investors in a research note. The analyst sees upside potential for T-Mobile shares with or without a Sprint merger and remains a buyer of the stock. The company should build "meaningful" cash and balance sheet flexibility over the next two years, Rollins contends. The analyst, however, continues to prefer a Sprint merger, even if T-Mobile pays a premium. He raised his price target for the shares to $77 from $70, which reflects a 75% probability of T-Mobile remaining a standalone company at a $75 per share value, and a 25% probability of an $81 per share M&A value. Rollins keeps a Buy rating on T-Mobile.
05/19/17
GSCO
05/19/17
UPGRADE
GSCO
Conviction Buy
Deutsche Telekom upgraded to Conviction Buy from Neutral at Goldman Sachs
01/23/17
JPMS
01/23/17
NO CHANGE
JPMS
JPMorgan says odds of T-Mobile, Sprint merger have 'increased dramatically'
JPMorgan analyst Philip Cusick believes T-Mobile (TMUS), Sprint (S) and DISH (DISH) are in play and that a combination of any of them could happen. In addition, each of the three companies could become targets for larger wireless players, domestic cable companies, Internet giants and foreign buyers, Cusick tells investors in a research note. He thinks the likelihood for a Sprint and T-Mobile tie-up in the near term has "increased dramatically" since September, from 10% to over 35%, including now a greater than 50% chance of announcement and 70% chance of approval if announced. Parents Softbank (SFTBY) and Deutsche Telekom (DTEGY) have increased their preference for a deal in the last six months and that the value of $5B of annual synergies "is enough to smooth over most disagreements on relative value," Cusick contends. He sees the most likely case as Sprint/Softbank buying T-Mobile, but feels a more even merger or even Deutsche Telekom/T-Mobile paying a premium to retain a majority of the combined company is possible.
SPAR Spartan Motors
$15.35

0.65 (4.42%)

01/25/17
ROTH
01/25/17
INITIATION
Target $12
ROTH
Buy
Spartan Motors initiated with a Buy at Roth Capital
Roth Capital analyst Matt Koranda started Spartan Motors with a Buy rating and $12 price target saying he believes its management team has initiated a "successful turnaround process," and sees upside in shares driven by "good" execution improving the emergency response segment.
04/06/17
GHSC
04/06/17
INITIATION
Target $10
GHSC
Buy
Spartan Motors coverage assumed with a Buy at Seaport Global
Seaport Global analyst Rhem Wood assumed coverage on Spartan Motors with a Buy and a $10 price target saying it is still in the early stages of improving profitability and is wll positioned to take advantage of the growing ecommerce and final mile delivery markets.
10/13/17
CHLM
10/13/17
NO CHANGE
Target $20
CHLM
Buy
Spartan Motors price target raised to $20 from $13 at Craig-Hallum
Craig-Hallum analyst Steven Dyer raised his price target on Spartan Motors to $20 following the company's analyst day yesterday, saying its "ambitious" 2020 targets imply a 13% annual revenue growth and more than a tripling of earnings. Dyer says the recent USPS contract and operational improvements justify the higher price target given the management's "excellent" execution track record. The analyst kept his Buy rating on the stock.
HPQ HP Inc.
$21.69

1.285 (6.30%)

10/13/17
SBSH
10/13/17
NO CHANGE
SBSH
HP announcement to pressure 3D printing stocks, says Citi
HP (HPQ) at its analyst day announced two new 3D printing systems that will come to market in 2018, Citi analyst Kenneth Wong tells investors in a research note. Management suggested that the color printer will aim to significantly lower costs to drive accessibility and adoption, which could be viewed negatively for market incumbents, the analyst contends. He expects the news to pressure shares of 3D printing companies Stratasys (SSYS), 3D Systems (DDD) and voxeljet (VJET). Wong believes the early success of the Jet Fusion platform could cause customers to pause purchases to evaluate HP's new offerings.
10/13/17
NEED
10/13/17
NO CHANGE
NEED
Needham views Stratasys, 3D Systems as vulnerable to HP expansion
Needham analyst James Ricchiuti believes HP Inc.'s (HPQ) plans to enter the metals 3D printing market in 2018, as announced at yesterday's analyst meeting, makes Stratasys (SSYS) and 3D Systems (DDD) potentially vulnerable to disruption. HP has placed multiple units of its Multi-Jet Fusion printers at leading customers in the automotive, consumer products, medical and electronics markets, which could hurt the core plastics and polymer printing businesses at Stratasys and 3D, Ricchiuti tells investors in a research note. He notes HP also plans to expand into the textiles printing market, which he finds not particularly surprising. The analyst is less concerned about the competitive challenge HP represents in this market to Electronics for Imaging (EFII) and Kornit Digital (KRNT). Electronics for Imaging's Nozomi platform appears to have an early lead and there is no evidence that HP is entering the direct-to-garment printing market, where Kornit has a "commanding position," Ricchiuti contends.
10/13/17
BERN
10/13/17
NO CHANGE
BERN
HP analyst day projected confident tone, says Bernstein
Bernstein analyst A.M. Sacconaghi says yesterday's FY18 guidance at HP Inc (HPQ) analyst day was better than expected, as management struck a "very confident tone". The analyst says there is opportunity for continue revenue growth and margin improvement in the PC business that is already "firing on all cylinders" and believes the FY18 outlook is "realistic to conservative." Sacconaghi also sees potential upside on EPS and FCF thanks to cost reduction and integration of Samsung's (SSNLF) printing business.
09/01/17
SBSH
09/01/17
NO CHANGE
Target $100
SBSH
Neutral
Tech Data price target lowered to $100 from $115 at Citi
Citi analyst Jim Suva explains why shares of Tech Data (TECD) dropped 20% on last night's disappointing earnings report. The cloud is gaining traction, allowing some vendors to shift products internally as well as less distributor rebates, which is resulting in increased competition and lower financial incentives, Suva tells investors in a post-earnings research note. He views Tech Data's earnings report as a negative for Sell-rated Arrow Electronics (ARW) and Avnet (AVT) as well as Neutral-rated Synnex (SNX), but a positive for HP Inc. (HPQ) and Apple (AAPL) as top line sales of PCs and smartphones are doing well. Suva cut his price target for Tech Data shares to $100 from $115 and keeps a Neutral rating on the name.
ATRS Antares Pharma
$2.32

-1.41 (-37.80%)

06/23/17
HCWC
06/23/17
INITIATION
Target $5
HCWC
Buy
Antares Pharma initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Corey Davis initiated Antares Pharma with a Buy and a $5 price target saying he sees further upside as its diversified business strategy finally matures in the near future. The analyst said Antares is a sum-of-the-parts story, and we believe several of those parts could come into clarity within months, including potential 3Q17 A/B-rated generic EpiPen approval, Antares' own Xyosted testosterone PDUFA date, Oct. 2017, partnered generic Byetta approval/launch, and partnered Makena auto injector Oct. 2017 PDUFA. Davis expects cash flow to breakeven in second half 2018, profitability in 2019, and said sum-of-the parts valuation results in a $5 price target.
04/20/17
RAJA
04/20/17
INITIATION
Target $4.3
RAJA
Strong Buy
Antares Pharma initiated with a Strong Buy at Raymond James
Raymond James analyst Elliot Wilbur initiated Antares Pharma with a Strong Buy and a $4.30 price target telling investors its business model diversity provides management with multiple value creation levers by playing in the generics arena targeting the $70B U.S. auto-injector and pre-filled syringe market, serving as life-cycle extension partner for branded assets facing end of life crisis or capturing full economic value of self-developed proprietary drugs.
05/10/17
JEFF
05/10/17
NO CHANGE
Target $6
JEFF
Buy
Jefferies sees Antares shares getting to $15 over time
Jefferies analyst Anthony Petrone views Antares Pharma's Q1 report as "solid" ahead of a "catalyst rich" second half of 2017. The better than expected results reflect continued strength in Sumatriptan device sales to Teva (TEVA) and a rebound in Otrexup, Petrone tells investors in a post-earnings research note. He believes four new products can win clearance in the second half of the year. Petrone sees the stock getting to $15 over time on successful launches from current pipeline products and keeps a Buy rating on Antares with a $6 price target. The stock in afternoon trading is down 4% to $2.67.
10/13/17
HCWC
10/13/17
NO CHANGE
Target $5
HCWC
Buy
Antares worth $3.30 per share without Xyosted, says H.C. Wainwright
H.C. Wainwright analyst Oren Livnat says he's "at a loss" for what caused the FDA to send a letter to Antares Pharma over Xyosted deficiencies, well into labeling discussions and just nine days before the October 20 action date. However, with the stock indicating down over 40% to near $2 per share, the analyst highlights that his sum-of-the-parts valuation still yields $3.3 per share even if Xyosted is removed entirely from his model. Livnat keeps a Buy rating on Antares with a $5 price target.
AAOI Applied Optoelectronics
$47.01

-11.83 (-20.11%)

10/13/17
COWN
10/13/17
NO CHANGE
Target $81
COWN
Outperform
Applied Optoelectronics price target lowered to $81 from $102 at Cowen
Cowen analyst Paul Silverstein lowered his price target on Applied Optoelectronics to $81 from $102 following the company's earnings pre-announcement. He said its announcement fuels concerns regarding the trajectory of its operating model, though he does not see an increased risk in the competitive landscape as his checks show they remain a strong supplier to a fast growing Web 2.0 data center end market. Silverstein maintained his Outperform rating on Applied Optoelectronics shares, which are down about 20% in pre-market trading to $47.25.
10/13/17
NEED
10/13/17
NO CHANGE
NEED
Applied Optoelectronics price target lowered to $75 from $115 at Needham
Needham analyst Alex Henderson cut his price target on Applied Optoelectronics (AAOI) after the company pre-announced lower than expected Q3 revenue. The analyst believes that the company's top customer, Amazon (AMZN), " completely stopped buying 40G" while Applied Optoelectronics lost share at Amazon. The analyst remains upbeat on the company's 100G business, however, and keeps a Strong Buy rating on the stock.
10/13/17
CHLM
10/13/17
DOWNGRADE
Target $42
CHLM
Hold
Applied Optoelectronics downgraded to Hold from Buy at Craig-Hallum
As previously reported, Craig-Hallum analyst Richard Shannon downgraded Applied Optoelectronics (AAOI) to Hold from Buy and cut his price target to $42 from $80 following a "substantial miss" in Q3. He says the 40G issues will continue to pressure the company and offset 100G growth in the near term, warning the company's gross margins could head much lower over next 1-2 quarters as it works through its inventory. Shannon also notes rising competition from Intel (INTC), as its aggressive pricing seeks to capture market share.
10/13/17
CHLM
10/13/17
DOWNGRADE
CHLM
Hold
Applied Optoelectronics downgraded to Hold from Buy at Craig-Hallum

TODAY'S FREE FLY STORIES

YOGA

YogaWorks

$2.86

-0.04 (-1.38%)

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QURE

uniQure

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CEVA

CEVA

$45.15

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Rogers Communications

$53.75

-0.23 (-0.43%)

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SBGI

Sinclair Broadcast

$30.35

0.3 (1.00%)

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Tribune Media

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Dish

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0.86 (1.76%)

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RCI

Rogers Communications

$53.75

-0.23 (-0.43%)

07:06
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Earnings
Rogers Communications backs FY17 revenue growth view 3%-5% 

Consensus $11.34B.

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NAK

Northern Dynasty

$2.09

0.1 (5.03%)

07:06
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Initiation
Northern Dynasty initiated  »

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ESTE

Earthstone Energy

$10.54

-0.15 (-1.40%)

07:05
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Syndicate
Earthstone Energy 4.5M share Spot Secondary priced at $9.25 »

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RCI

Rogers Communications

$53.75

-0.23 (-0.43%)

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Rogers Communications raises FY17 adj operating profit growth view to 5%-6% »

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PM

Philip Morris

$112.51

-0.14 (-0.12%)

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Philip Morris CEO says Q3 results 'very strong' »

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BX

Blackstone

$33.49

0.27 (0.81%)

07:05
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Earnings
Blackstone reports Q3 ENI 69c, consensus 54c »

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ABCB

Ameris Bancorp

$49.45

0.3 (0.61%)

07:04
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Earnings
Ameris Bancorp reports Q3 adjusted EPS 63c, consensus 65c »

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V

Visa

$107.80

0.26 (0.24%)

07:04
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Visa announces security platform Visa ID Intelligence »

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PM

Philip Morris

$112.51

-0.14 (-0.12%)

07:04
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Earnings
Philip Morris revises FY17 reported EPS view to $4.75-$4.80, consensus $4.84 »

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SPX

S&P 500

07:04
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Trump thinks Republicans have votes for budget approval »

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RCI

Rogers Communications

$53.75

-0.23 (-0.43%)

07:03
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Earnings
Rogers Communications reports Q3 EPS C$1.01, consensus C$0.80 »

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PM

Philip Morris

$112.51

-0.14 (-0.12%)

07:02
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Philip Morris reports Q3 adjusted EPS $1.27, consensus $1.38 »

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ERIC

Ericsson

$5.98

0.08 (1.36%)

07:02
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Ericsson rating change  »

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TRV

Travelers

$130.02

1.37 (1.06%)

07:01
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USO

United States Oil Fund

$10.48

-0.01 (-0.10%)

07:01
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United States Oil Fund: Pivot points, pivot low edged »

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XOP

SPDR Oil Exploration and Production Fund

$33.35

-0.32 (-0.95%)

07:00
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Technical Analysis
SPDR Oil Exploration and Production Fund: Pivot points »

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$26.40

0.3 (1.15%)

06:59
10/19/17
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Technical Analysis
VelocityShares 3x Inv Natural Gas ETN: Pivot points »

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TRV

Travelers

$130.02

1.37 (1.06%)

06:59
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Breaking Hot Stocks news story on Travelers »

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$10.23

-0.17 (-1.63%)

06:58
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Technical Analysis
VelocityShares 3x Long Natural Gas ETN: Pivot points »

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TRV

Travelers

$130.02

1.37 (1.06%)

06:58
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Hot Stocks
Travelers reports Q3 book value per share $86.73 »

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