Breaking News Instant updates and real-time market news.

VZ

Verizon

, DHR

Danaher

09:28
10/19/17
10/19
09:28
10/19/17
09:28

On The Fly: Pre-market Movers

UP AFTER EARNINGS: Verizon (VZ), up 2.9%... Danaher (DHR), up 2.4%... Blackstone (BX), up 1.5%... Quest Diagnostics (DGX), up just under 1%... Limelight Networks (LLNW), up 13.4%... United Rentals (URI), up 2.6%. ALSO HIGHER: Gilead Sciences (GILD) is up 1.7% and BioLife Solutions (BLFS) is up 15.4% after the FDA granted regulatory approval to Kite's Yescarta... OncoSec (ONCS), up16.5% after presenting ImmunoPulse IL-12/pembrolizumab combination trial data... Corbus Pharmaceuticals (CRBP), up 25% after reporting anabasum Phase 2 study topline results. DOWN AFTER EARNINGS: Philip Morris (PM), down 2.7%... BB&T (BBT), down 2.3%... BNY Mellon (BK), down just under 1%... Dover (DOV), down 5.4%... eBay (EBAY), down 4.4%.

VZ

Verizon

DHR

Danaher

BX

Blackstone

DGX

Quest Diagnostics

LLNW

Limelight Networks

$4.48

0.12 (2.75%)

URI

United Rentals

GILD

Gilead

$80.01

-0.23 (-0.29%)

BLFS

BioLife Solutions

$6.10

0.33 (5.72%)

ONCE

Spark Therapeutics

$82.00

-0.97 (-1.17%)

CRBP

Corbus Pharmaceuticals

$7.00

-0.05 (-0.71%)

PM

Philip Morris

BBT

BB&T

BK

BNY Mellon

DOV

Dover

EBAY

eBay

$37.97

0.48 (1.28%)

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VZ Verizon

10/19/17
SBSH
10/19/17
NO CHANGE
Target $55
SBSH
Buy
Verizon shares to move up near-term on Q3 results, says Citi
Citi analyst Michael Rollins views this morning's Q3 results from Verizon Communications as positive citing the postpaid phone gains and recovering wireless service revenue. The quarter affirms the company's opportunity to improve the trajectory of wireless service revenue over the next 12 months while generating solid cash flow, Rollins tells investors in a post-earnings research note. The analyst expects Verizon shares to trade higher near-term on the back of these results. He keeps a Buy rating on the name with a $55 price target. Rollins notes Verizon's capex of $4.3B was just below his $4.4B forecast. Capex is now expected to be $16.8B, below the analyst's estimate of $17.0B.
10/16/17
10/16/17
DOWNGRADE

Perform
Crown Castle downgraded to Perform at Oppenheimer
As previously reported, Oppenheimer analyst Timothy Horan downgraded Crown Castle (CCI) to Perform from Outperform saying that recent reports denote a T-Mobile (TMUS)/Sprint (S) merger is imminent, and as it represents 40% of revenues and will be aggressively slashing supplier spending, which will offset growth in 600 MHz, FirstNet, 5G. The analyst sees a 70% probability of the deal receiving approval with major concessions and likely also attacking the wireline market and better able to compete with Verizon (VZ)/AT&T (T) on coverage/capacity.
09/20/17
OPCO
09/20/17
NO CHANGE
OPCO
Perform
Oppenheimer expects Sprint, T-Mobile merger to happen
Oppenheimer analyst Timothy Horan expect T-Mobile (TMUS) to merge with Sprint (S) in a stock-for-stock transaction at a $10 per share Sprint valuation. A T-Mobile/Sprint will be a better competitor to Verizon (VZ)/AT&T (T), the analyst says, adding that while the process is likely to have a few bumps and require time, he expects a merger to happen. Horan reiterates a Perform rating on Sprint's shares.
09/20/17
DBAB
09/20/17
NO CHANGE
DBAB
Sprint, T-Mobile merger unlikely to get regulatory approval, says Deutsche Bank
Deutsche Bank analyst Matthew Niknam continues to believe a potential merger between Sprint (S) and T-Mobile (TMUS) faces "significant hurdles" and is ultimately unlikely to get past regulatory concerns. Merits of the deal, however, are "unparalleled, and very tough to debate," Niknam tells investors in a research note following CNBC's report of progressing deal talks. He believes derivative stock reactions on the news, namely strength in AT&T (T) and Verizon (VZ) and weakness in the tower names, could be at risk of reversing. Among the towers, the analyst has Buy ratings on American Tower (AMT) and Crown Castle (CCI).
DHR Danaher

09/26/17
GSCO
09/26/17
INITIATION
Target $83
GSCO
Neutral
Danaher assumed with a Neutral at Goldman Sachs
Goldman analyst Patrick Donnelly assumed coverage on Danaher with a Neutral and $83 price target saying exposure to more challenging markets, particularly dental, present headwinds and will continue to drive below industry organic growth.
07/13/17
07/13/17
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. HP Inc. (HPQ), 3D Systems (DDD), and Stratasys (SSYS) were initiated with a Neutral at Susquehanna. 2. Danaher (DHR) initiated with a Market Perform at Wells Fargo. 3. E-Trade (ETFC) and TD Ameritrade (AMTD) were initiated with a Buy at Rosenblatt, while Charles Schwab (SCHW) was initiated with a Neutral. 4. C&J Energy Services (CJ) initiated with a Buy at Jefferies. 5. BIO-key (BKYI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/08/17
JPMS
09/08/17
NO CHANGE
Target $95
JPMS
Overweight
Danaher added to Analyst Focus List at JPMorgan
JPMorgan analyst Tycho Peterson added Danaher to his firm's Analyst Focus List saying the risk/reward looks attractive at current valuation levels. Organic growth likely bottomed out in Q2, second half targets look achievable and investor sentiment "feels largely washed out," Peterson tells investors in a research note. He reiterates an Overweight rating on the shares with a $95 price target.
07/13/17
WELS
07/13/17
INITIATION
WELS
Market Perform
Danaher initiated at Wells Fargo
As noted earlier, Wells Fargo analyst Tim Evans started coverage of Danaher with a $90 price target and a Market Perform rating. Evans says that the company's acquisition of Cepheid indicates that it is focusing on clinical diagnostics markets, and he is cautious about that space. Additionally, he believes that some are overestimating the company's potential for revenue acceleration, and he says that its recent deals have been expensive.
BX Blackstone

05/22/17
05/22/17
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. Qualcomm (QCOM) upgraded to Overweight from Neutral at JPMorgan with analyst Rod Hall saying while more negative news from the Apple (AAPL) royalty suit is likely, "material fundamental upside" exists from the closure of the NXP Semiconductors (NXPI) by the end of this year. The analyst views the deal as highly accretive. Hall also believes Apple ultimately will want to preserve its commercial relationship with Qualcomm. 2. Motorola Solutions (MSI) upgraded to Outperform from Market Perform at Raymond James with analyst Tavis McCourt saying shares look increasingly attractive based on improved demand visibility that is less economically sensitive than many of its peers, and demand catalysts from FirstNet buildouts that are expected to start in 2018. 3. Entegris (ENTG) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Toshiya Hari citing the recent pullback in shares and maintained a $29 price target. 4. Blackstone (BX) upgraded to Buy from Neutral at Citi with analyst William Katz saying the company's intentions to raise a $40B infrastructure fund should be a "valuation catalyst." 5. Cree (CREE) upgraded to Outperform from Market Perform at JMP Securities with analyst Joseph Osha saying he thinks that the company's new CEO could make positive changes at the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/22/17
JMPS
05/22/17
NO CHANGE
JMPS
Blackstone deal with Saudi Arabia positive, says JMP Securities
JMP Securities analyst Devin Ryan says that the new infrastructure investment vehicle that Blackstone launched with the Public Investment Fund of Saudi Arabia may boost the shareholder value of Blackstone by over 10%. The analyst adds that the deal shows that Blackstone "can evolve and innovate," which makes its growth outlook "strong." He keeps a $38 price target and Outperform rating on the shares.
05/22/17
SBSH
05/22/17
UPGRADE
Target $40
SBSH
Buy
Blackstone upgraded to Buy from Neutral at Citi
Citi analyst William Katz upgraded Blackstone Group to Buy and raised his price target for the shares to $40 from $32. The company's intentions to raise a $40B infrastructure fund should be a "valuation catalyst," the analyst contends.
09/18/17
FBCO
09/18/17
NO CHANGE
FBCO
Blackstone Vivint IPO/sale potential positive for Alarm.com, says Credit Suisse
Credit Suisse analyst Michael Nemeroff notes that several news outlets disclosed that Blackstone (BX) is running a process that could lead to an IPO or sale of Vivint, a smart-home technology company. The analyst believes that the IPO or sale of Vivint could have positive implications for Alarm.com (ALRM). An IPO could validate the market for connected home security products and promote awareness in a market where Alarm.com holds the dominant leadership position, while a sale could result in business disruptions at Vivint, which could allow Alarm.com to further extend its lead in the market, Nemeroff contends.
DGX Quest Diagnostics

10/10/17
10/10/17
DOWNGRADE
Target $113

Buy
Quest Diagnostics removed from Conviction Buy List at Goldman Sachs
As previously reported, Goldman removed Quest Diagnostics from the Conviction Buy List and lowered its price target to $113 from $121. Analyst Isaac Ro thinks share gains associated with PAMA reimbursement cuts could take time to manifest as competitors debate long-term strategies. The analyst maintains a Buy rating on Quest given its a pure-play on lab testing, margin expansion opportunities, and shareholder friendly capital deployment.
10/17/17
CHLM
10/17/17
NO CHANGE
Target $100
CHLM
Hold
Quest Diagnostics price target lowered to $100 from $110 at Craig-Hallum
Craig-Hallum analyst Kevin Ellich lowered his price target for Quest Diagnostics to $100 from $110 to account for hurricane-related disruption in Florida, Texas, and Puerto Rico based on its disclosure in late September. The analyst views the weather-related impact as a one-time event. He reiterates a Hold rating on the shares.
10/12/17
WELS
10/12/17
INITIATION
Target $88
WELS
Market Perform
Quest Diagnostics resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Tim Evans resumed coverage of Quest Diagnostics with a Market Perform rating and $88 price target. The rating is unchanged from his firm's prior coverage.
10/12/17
WELS
10/12/17
UPGRADE
Target $175
WELS
Outperform
LabCorp resumed with an Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Tim Evans resumed coverage of LabCorp and upgraded the shares to Outperform with a $175 price target. The analyst sees LabCorp outperforming Quest Diagnostics (DGX) due to its "slightly" higher revenue growth profile and diversification as well as more attractive valuation.
LLNW Limelight Networks
$4.48

0.12 (2.75%)

10/19/17
COWN
10/19/17
NO CHANGE
Target $6
COWN
Outperform
Limelight Networks price target raised to $6 from $4 at Cowen
Cowen analyst Jonathan Charbonneau raised his price target on Limelight Networks to $6 from $4 following solid Q3 results. The analyst noted the company increased its guidance driven by another quarter of healthy demand with accelerating growth in OTT. He continues to see the stock as undervalued. Charbonneau reiterated his Outperform rating on Limelight Networks shares.
10/19/17
DADA
10/19/17
NO CHANGE
Target $6
DADA
Buy
Network infrastructure to drive Limelight Networks margins, says DA Davidson
DA Davidson analyst Mark Kelleher maintained his Buy rating on Limelight Networks, raising his price target to $6.00 from $5.50 after the company posted its highest Q3 revenue in 19 quarters. Kelleher says new customer wins are laying a foundation for growth this year and beyond, while improvements in Limelight's infrastructure should further boost gross margins, paving the way to new revenue drivers.
10/16/17
DADA
10/16/17
NO CHANGE
Target $5.5
DADA
Buy
Limelight Networks to continue market share gains, says DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on Limelight Networks (LLNW) to $5.50 from $4.50 and maintained his Buy rating ahead of the company's Q3 earnings. Kelleher notes that Limelight is laying a foundation for growth beyond 2017 with new customer wins in numerous vertical markets, and further improvements in its infrastructure will add an upward bias to gross margins next year and beyond. The analyst expects continued market share gains to outpace its largest competitor Akamai Technologies (AKAM), which he expects to show another decline in Media delivery business.
04/25/17
COWN
04/25/17
NO CHANGE
Target $4
COWN
Outperform
Limelight Networks remains undervalued as momentum continues, says Cowen
Cowen analyst Jonathan Charbonneau said momentum has continued for Limelight Networks and the shares remain undervalued. Charbonneau noted the company reported solid Q1 results and slightly increased full year guidance. Charbonneau reiterated his Outperform rating and raised his price target to $3.50 from $3.00 on Limelight Networks shares, as he thinks fundamentals, including robust traffic growth and stable pricing, should be sustainable beyond 2017.
URI United Rentals

10/16/17
JEFF
10/16/17
NO CHANGE
Target $165
JEFF
Buy
United Rentals price target raised to $165 from $150 at Jefferies
Jefferies analyst Justin Jordan raised his price target for United Rentals to $165 saying he expects a beat and raise quarter when the company reports on October 18. The Neff acquisition completion and an improving rental outlook should drive a 2017 guidance raise, Jordan tells investors in a pre-earnings research note. The analyst keeps a Buy rating on the shares.
10/03/17
10/03/17
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. Xerox (XRX) initiated with a Neutral at UBS. 2. United Rentals (URI) reinstated with a Hold at Deutsche Bank. 3. Home Depot (HD) initiated with a Buy at Gordon Haskett. 4. TD Ameritrade (AMTD) reinstated with a Neutral at Goldman Sachs. 5. West Pharmaceutical (WST) initiated with an Equal Weight at Stephens. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/17
DBAB
10/03/17
INITIATION
Target $157
DBAB
Hold
United Rentals reinstated with a Hold at Deutsche Bank
Deutsche Bank analyst Nicole DeBlase reinstated United Rentals with a Hold rating and raised her price target for the shares to $157 from $130. The rating is unchanged. The new price target reflects the recently completed Neff acquisition, which the analyst views in a "favorable light financially."
09/05/17
JEFF
09/05/17
NO CHANGE
Target $150
JEFF
Buy
Hurricane Harvey to boost growth at United Rentals, says Jefferies
Jefferies analyst Justin Jordan believes United Rentals may see $60M of immediate disaster recovery revenue from Hurricane Harvey, which equates to 1% of sales and EBITDA in 2017. The estimate does not include rebuild rental work and the possibility of Harvey being a positive catalyst for increased U.S. infrastructure spending, Jordan tells investors in a research note. The analyst keeps a Buy rating on the shares.
GILD Gilead
$80.01

-0.23 (-0.29%)

10/11/17
LEHM
10/11/17
INITIATION
Target $90
LEHM
Overweight
Gilead reinstated with an Overweight at Barclays
Barclays analyst Geoff Meacham reinstated Gilead Sciences with an Overweight rating and $90 price target. The company will continue to attract investor attention as its expansion into oncology puts visibility into the resumption of growth, the analyst contends.
10/19/17
JEFF
10/19/17
NO CHANGE
JEFF
Hold
Gilead CAR-T approval comes early, pricing in-line, says Jefferies
Jefferies analyst Michael Yee says approval of Gilead Sciences' CAR-T Yescarta came one month ahead of expectations and the list price of $373,000 is in-line with expectations. The analyst expects the launch to be strong over the course of the year and estimates 2018 revenue above consensus in the $200M-$250M range. Yee keeps a Hold rating on Gilead, saying hepatitis C virus numbers remain too high and need to come down.
10/19/17
WBLR
10/19/17
NO CHANGE
WBLR
Outperform
Gilead CAR-T priced below expectations, says William Blair
William Blair analyst Y. Katherine Xu says the $373,000 price for Gilead Sciences' CAR-T product Yescarta is below her estimate of $425,000. The analyst lowered her peak sales estimate for Yescarta to $3.3B from $4.1B but notes the change does not materially affect her fair value estimate of Gilead shares, which she keeps at $87. Xu keeps an Outperform rating on Gilead.
10/19/17
MSCO
10/19/17
NO CHANGE
MSCO
Equal Weight
Gilead faces patent battle with Juno over Yescarta, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that Juno (JUNO) has filed a lawsuit in the Central District of California alleging that Gilead's (GILD) newly-approved Yescarta infringes a patent that is exclusively licensed to Juno from Memorial Sloan Kettering. The analyst, who said he would expect a modest royalty to Juno, sees this fight as a source of potential upside to Juno but not as a major headwind for Gilead. Harrison, who said in a separate note to investors that Yescarta's pricing and timeline appear in-line with expectations, keeps Equal Weight ratings on both Gilead and Juno.
BLFS BioLife Solutions
$6.10

0.33 (5.72%)

07/05/17
JANY
07/05/17
UPGRADE
JANY
Buy
BioLife Solutions upgraded to Buy from Neutral at Janney Capital
07/05/17
07/05/17
UPGRADE
Target $5

Buy
BioLife Solutions upgraded to Buy at Janney Capital
As previously reported, Janney Capital upgraded BioLife Solutions to Buy from Neutral with a $5 price target saying Novartis' July 12 FDA hearing is the last step before CTL019 approval and signals the beginning of the regenerative medicine era. Further, with a recurring revenue stream and over 20 products in Phase III trials, the analyst believes growth can accelerate.
03/10/17
MAXM
03/10/17
NO CHANGE
Target $4
MAXM
Buy
BioLife Solutions price target raised to $4 from $3 at Maxim
Maxim analyst Gabrielle Zhou increased her out year estimates for BioLife Solutions' media products citing demand growth as the cell therapy space grows and raised her price target to $4 from $3. The analyst, who thinks BioLife's media products and shipping platform offer advantages that the cell therapy space will continue to adopt, keeps a Buy rating on the shares.
01/19/17
MAXM
01/19/17
INITIATION
Target $3
MAXM
Buy
BioLife Solutions initiated with a Buy at Maxim
Maxim analyst Gabrielle Zhou started BioLife Solutions (BLFS) with a Buy rating and $3 price target, saying that its biopreservation media products for cell therapy have advantages over competing media products. Kite Pharma's (KITE) KTE-C19 could be approved in 2017, which would be a milestone for the cell therapy space and a catalyst for BioLife, Zhou tells investors.
ONCE Spark Therapeutics
$82.00

-0.97 (-1.17%)

10/13/17
STFL
10/13/17
NO CHANGE
Target $101
STFL
Buy
Spark Therapeutics price target raised to $101 from $92 at Stifel
Stifel analyst Stephen Willey said the vote of an FDA advisory committee in favor of the overall benefit-risk profile of Spark Therapeutics' voretigene neparvovec was "precisely in-line" with both his and the consensus expectation and he now expects the pricing/reimbursement debate to accelerate ahead of the January PDUFA date for the treatment. The analyst, who has adjusted both his expectations for pricing and some patient-related factors, raised his price target on Spark shares to $101 from $92 and keeps a Buy rating on the stock.
10/13/17
CANT
10/13/17
NO CHANGE
Target $105
CANT
Overweight
Spark Therapeutics price target raised to $105 from $94 at Cantor Fitzgerald
Cantor Fitzgerald analyst Elemer Piros raised his price target for Spark Therapeutics to $105 following the unanimous advisory committee recommendation to approve Luxturna for the treatment of biallelic RPE65 mutation-associated retinal dystrophy. The analyst expects expedited approval for Luxturna well before its January 12, 2018, FDA action date. He keeps an Overweight rating on Spark Therapeutics.
10/16/17
HCWC
10/16/17
NO CHANGE
Target $30
HCWC
Buy
Abeona Therapeutics price target raised to $30 from $20 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Abeona Therapeutics (ABEO) to $30 saying the company's R&D day showcased its pipeline value. Further, the FDA panel vote for Spark Therapeutics' (ONCE) Luxturna indicates a positive gene therapy outlook, the analyst tells investors in a research note. He reiterates a Buy rating on Abeona.
10/16/17
RHCO
10/16/17
NO CHANGE
Target $101
RHCO
Buy
Spark Therapeutics price target raised to $101 from $95 at SunTrust
SunTrust analyst Edward Nash raised his price target on Spark Therapeutics to $101, citing the latest FDA AdCom support for Luxturna. The analyst says the positive recommendation and the liberal stance taken by the AdCom on labeling increases Luxturna probability of success, maintaining a Buy rating on Spark Therapeutics stock.
CRBP Corbus Pharmaceuticals
$7.00

-0.05 (-0.71%)

05/09/17
CANT
05/09/17
NO CHANGE
Target $24
CANT
Corbus poised to enter late stage development in 2017, says Cantor
Cantor Fitzgerald analyst Elemer Piros reiterates an Overweight rating and $24 price target on Corbus Pharmaceuticals' following its Q1 report, stating that the company is poised to enter late stage development in 2017 and noting that anabasum has fast track status and is eligible for priority review and submission through a rolling NDA.
09/20/17
CANT
09/20/17
NO CHANGE
Target $24
CANT
Overweight
Corbus data 'encouraging supportive' for prior study, says Cantor
Cantor Fitzgerald analyst Elemer Piros reiterates an Overweight rating and $24 price target on Corbus Pharmaceuticals, following release of abstracts from the American College of Rheumatology meeting scheduled for November 3-8. Previously placebo-treated patients in one abstract began to demonstrate a meaningful response when treated with anabasum, while previously treated anabasum patients continued to improve response, Piros tells investors in a research note. He views these data as "encouraging supportive" for the prior Phase 2 study.
09/29/17
NBLE
09/29/17
INITIATION
NBLE
Buy
Corbus Pharmaceuticals coverage assumed with a Buy at Noble Financial
Noble Financial analyst Caroline Palomeque assumed coverage of Corbus with a $16 price target and a Buy rating. The analyst believes that the launch of several trials of the company's Anabasum drug and the announcement of data on the drug from several other trials will be positive catalysts for the stock.
09/29/17
09/29/17
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. Regeneron (REGN) assumed with an Overweight at Piper Jaffray. 2. MasterCard (MA) and Visa (V) were initiated with an Overweight at Cantor Fitzgerald. 3. Liberty Global (LBTYA, LBTYK) and Liberty Global LiLAC (LILA) were initiated with a Buy at Buckingham. 4. Corbus Pharmaceuticals (CRBP) coverage assumed with a Buy at Noble Financial. 5. Medpace (MEDP) initiated 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.
PM Philip Morris

09/28/17
GSCO
09/28/17
UPGRADE
Target $135
GSCO
Conviction Buy
Philip Morris upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Philip Morris (PM) to Conviction Buy and reiterates the stock as her top pick in within tobacco. The company offers a "rare innovation product cycle story within Staples" along with the strongest global positioning in next generation products, Hong tells investors in a research note where she also upgraded Brown-Forman (BF.B) to Neutral. The analyst views Philip Morris' IQOS as a "game-changer for Global Tobacco." She raised her price target for the shares to $135 from $133. Hong also highlights Mondelez (MDLZ), Estee Lauder (EL) and Kimberly-Clark (KMB) as top multinational picks.
09/28/17
09/28/17
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. McDonald's (MCD) upgraded to Buy from Neutral at Longbow with analyst Alton Stump citing better than expected third quarter U.S. comparable store sales trends. 2. Philip Morris (PM) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Judy Hong saying the company offers a "rare innovation product cycle story within Staples" along with the strongest global positioning in next generation products. 3. BlackRock (BLK) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Alexander Blostein saying he expects an acceleration in annual operating income growth given improving trends in active, easing pressures on blended fee rates, and scaling of its tech platform which should lead to sustainable multiple improvement. 4. Potbelly (PBPB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Nicole Miller Regan saying she believes a "compelling" turnaround is building. 5. Huntsman (HUN) upgraded to Outperform from Market Perform at Wells Fargo with analyst Frank Mitsch saying the recent weakness in the shares is a buying opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/17
WELS
10/06/17
NO CHANGE
WELS
Nicotine study could pressure tobacco stocks, says Wells Fargo
Dr. Dorothy Hatsukami's 1,250 patient, 20 week Phase III study, which suggested an immediate reduction in nicotine levels by the FDA would be more effective than a gradual reduction in terms of discouraging compensatory behavior, could create near-term headline risk for tobacco stocks, Wells Fargo analyst Bonnie Herzog tells investors in an intraday research note after XXII Century Group announced the results. Investors may worry the data could precipitate sharper declines in combustible cigarette volumes, the analyst contends. She continues to believe, however, that such an outcome would only accelerate conversion to reduced-risk products such as iQOS, which she notes does not appear to have been a part of the study. Publicly traded companies in the tobacco space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).
10/10/17
WELS
10/10/17
NO CHANGE
Target $140
WELS
Outperform
Philip Morris recent stock pullback overdone, says Wells Fargo
Wells Fargo analyst Bonnie Herzog says that the recent Phillip Morris stock pullback is overdone, making risk/reward look more favorable. The analyst recommends buying ahead of Q3 results as she expects strong iQOS performance, resilience in key combustible cigarette markets, and the continued success of its premiumization strategy. Herzog reiterates an Outperform rating and $140 price target on the shares.
BBT BB&T

08/04/17
MACQ
08/04/17
UPGRADE
Target $47
MACQ
Neutral
BB&T upgraded to Neutral from Underperform at Macquarie
Macquarie analyst David Konrad upgraded BB&T to Neutral with a $47 price target saying valuation is more reasonable following relative underperformance and operating leverage continues to improve.
08/09/17
WELS
08/09/17
INITIATION
Target $44
WELS
Market Perform
BB&T resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of BB&T with a Market Perform rating and $44 price target.
10/05/17
10/05/17
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. Microsoft (MSFT) upgraded to Buy from Hold at Canaccord with analyst Richard Davis saying investors are underestimating the "virtuous cycles" of Microsoft's four "compelling" growth drivers, namely Office Productivity, Gaming, Marketing, and Azure's Platform as a Service. 2. Biogen (BIIB) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying the base business is underappreciated and Ocrevus share loss is slower than expected. 3. Sherwin-Williams (SHW) upgraded to Buy from Underperform at BofA/Merrill with analyst Steve Byrne saying the company announced a 3%-5% price increase on Tuesday and detailed plans to expand PF EBITDA margin to 19%-21% in 2020 from 17% in 2016. 4. BB&T (BBT) upgraded to Overweight from Equal Weight at Stephens with analyst Terry McEvoy noting that it has been the worst performing Super Regional bank in 2017 and he recommends taking advantage of that underperformance as he expects it to produce among the highest returns in the group going forward. 5. Celsion (CLSN) upgraded on improved financial outlook at Maxim with analyst Jason McCarthy saying the changes to the company's agreement with warrant holders, enabling the warrants to be exercised immediately following a rally in the stock, have removed the financial overhang on the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/17
SPHN
10/05/17
UPGRADE
Target $53
SPHN
Overweight
BB&T upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Terry McEvoy upgraded BB&T to Overweight from Equal Weight, noting that it has been the worst performing Super Regional bank in 2017 and he recommends taking advantage of that underperformance as he expects it to produce among the highest returns in the group going forward. The analyst, who has confidence on BB&T's Q3 trends following the bank's update at a conference last month, set a $53 price target on the shares.
BK BNY Mellon

08/09/17
WELS
08/09/17
INITIATION
Target $55
WELS
Market Perform
BNY Mellon initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Mike Mayo started BNY Mellon with a Market Perform rating and $55 price target.
09/08/17
UBSW
09/08/17
DOWNGRADE
UBSW
Neutral
BNY Mellon downgraded to Neutral from Buy at UBS
10/13/17
GSCO
10/13/17
NO CHANGE
GSCO
McDonald's 'can outperform for several more years,' says Goldman Sachs
Goldman Sachs analyst Karen Holthouse says historical analysis indicates that McDonald's (MCD) can continue to outperform and gain market share at the expense of regional competitors. According to the analyst, after fast food companies underperform for three quarters, they go on to underperform for an average of 4.6 years. Seven of McDonald's "key competitors...are relatively early in these cycles of underperformance," the analyst wrote. However, Holthouse believes that the risk to Wendy's (WEN) and Restaurant Brands' (QSR) Burger King from McDonald's rebound "may be overstated," since Burger King and Wendy's would only have to gain 30 basis points of share from other fast food players to offset a 5% comp sales gain by McDonald's, according to the analyst. The analyst trimmed her price target on McDonald's to $172 from $174, citing a "modeling error." She cut her price target on Bojangles (BOJA) to $12.50 from $14.50 and lowered her fiscal 2018 comp sales estimates for Bojangles, Dunkin' Brands (DNKN), and Restaurant Brands, citing the latter company's ownership of Popeye's. She sees Bojangle's, Jack in the Box (JACK), and Dunkin Brands as having the most risk, in order from greatest to least, from McDonald's resurgence.
05/26/17
BOFA
05/26/17
INITIATION
Target $49
BOFA
Underperform
BNY Mellon reinstated with an Underperform at BofA/Merrill
BofA/Merrill analyst Michael Carrier reinstated coverage on BNY Mellon with an Underperform and a $49 price target given low revenue growth outlook.
DOV Dover

10/12/17
RHCO
10/12/17
NO CHANGE
RHCO
Diversified Industrials sector to show stronger Q3 organic growth, says SunTrust
SunTrust analyst Charles Brady previewed Q3 earnings for Diversified Industrials, forecasting acceleration of organic growth reflecting improved demand. He says there is visible growth across most regions and end markets, maintaining a favorable view on U.S. construction, defense, and municipal spending, with an added upside opportunity from agriculture, mining, and water. Among the companies with the biggest potential, he expects Nordson (NDSN) to recover from recent order weakness, Oshkosh (OSK) to benefit from faster recovery in access equipment, and Rexnord (RXN) to see strong growth in Process & Motion Control division. Brady is also raising his price targets on A.O. Smith (AOS) to $65 from $60, Dover (DOV) to $90 from $88, Fortive (FTV) to $77 from $70, and Generac (GNRC) to $47 from $38. Among those, he sees Fortive's recent acquisitions driving top-line growth and for Generac to show higher activity in generators in the wake of recent hurricanes.
06/08/17
BMOC
06/08/17
UPGRADE
BMOC
Outperform
Dover upgraded on increased earnings diversification outlook at BMO Capital
As noted earlier, BMO Capital upgraded Dover to Outperform from Market Perform. Analyst R. Scott Graham thinks that the proportion of overall operating income generated by the company's Energy unit will drop to 30% by mid 2018 from about 80% in 1H17. The analyst says that the change will lower the risk posed by the stock and increasingly prevent the shares from being moved by oil price fluctuations. Target to $94 from $89.
06/21/17
GHSC
06/21/17
DOWNGRADE
Target $86
GHSC
Neutral
Dover downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst Ryan Cassil downgraded Dover to Neutral and cut its price target to $86 from $91 to reflect a new commodity price deck. Seaport Global's Energy team reduced its long-term oil forecast to $40/bbl from $50/bbl to reflect "relentless" US production growth. The firm sees the potential for the oil market to be "significantly over supplied in 2018 and cut its oil price forecast for first half 2017 to $45/bbl from $55/bbl and first half 2018 to $35/bbl from $55/bbl.
09/20/17
JPMS
09/20/17
UPGRADE
JPMS
Overweight
Dover upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst C. Stephen Tusa upgraded Dover to Overweight and raised his price target for the shares to $105 from $80. The analyst sees the shares continuing to rally on relative organic outperformance and, over time, further capital deployment.
EBAY eBay
$37.97

0.48 (1.28%)

10/19/17
RBCM
10/19/17
NO CHANGE
Target $39
RBCM
eBay price target raised to $39 from $36 at RBC Capital
RBC Capital analyst Mark Mahaney raised his price target on eBay to $39, noting the latest Q3 results showed some acceleration in U.S. Marketplace. Mahaney keeps his Sector Perform rating on eBay saying that Q4 guidance implies some modest topline deceleration.
10/19/17
SBSH
10/19/17
NO CHANGE
Target $43
SBSH
Buy
eBay momentum and fundamentals remain solid, says Citi
Citi analyst Mark May says that while eBay's Q3 results were slightly below the most bullish expectations, and some investors expected more from the Q4 revenue outlook, the company's underlying momentum and fundamentals remain solid. May sees continued improving core sales growth, a disciplined capital allocation strategy and an attractive valuation. He keeps a Buy rating on eBay with a $43 price target. The shares in premarket trading are down 5% to $36.20.
10/19/17
BARD
10/19/17
NO CHANGE
Target $38
BARD
Outperform
eBay progress overshadowed by high expectations, says Baird
Baird analyst Colin Sebastian noted eBay reported Q3 results that were better than expected and showed the fastest Marketplace growth in three years. However, he notes that expectations were high heading into the report. The analyst said management believes its Marketplace turnaround remains on track with further improvement in core growth expected in Q4. Sebastian, who said he would be an opportunistic buyer on pullbacks, reiterated his Outperform rating and $38 price target on eBay shares.
10/18/17
BMOC
10/18/17
NO CHANGE
Target $40
BMOC
Market Perform
eBay price target raised to $40 from $36 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on eBay to $40, saying the revenue in Promoted Listings business will rise about 190% in FY17. Salmon says the company's decision to discontinue third-party product listings ads across eBay will result in greater adoption of Promoted Listings, which he sees as a $1B opportunity. The analyst maintains a Market Perform rating on eBay, awaiting more signs of acceleration in gross merchandise volume.

TODAY'S FREE FLY STORIES

TSLA

Tesla

$315.05

2.55 (0.82%)

10:21
11/18/17
11/18
10:21
11/18/17
10:21
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Tesla new super car to cost $200,000, Recode says »

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  • 20

    Nov

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  • 16

    Jan

GT

Goodyear Tire

$29.94

0.63 (2.15%)

10:17
11/18/17
11/18
10:17
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Goodyear Tire, NASCAR extend relationship »

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  • 20

    Nov

  • 09

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  • 16

    Jan

HMC

Honda

$32.62

0.02 (0.06%)

10:05
11/18/17
11/18
10:05
11/18/17
10:05
Periodicals
Honda recalls 900,000 minivans on tip forward seats, Reuters says »

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PG

Procter & Gamble

$88.43

-0.82 (-0.92%)

09:48
11/18/17
11/18
09:48
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09:48
Periodicals
Activist investors Nelson Peltz still in P&G picture, Barron's says »

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BHGE

Baker Hughes

$30.91

0.76 (2.52%)

, GE

General Electric

$18.21

-0.04 (-0.22%)

09:39
11/18/17
11/18
09:39
11/18/17
09:39
Periodicals
Buy Baker Hughes, Barron's says »

While it is "not…

BHGE

Baker Hughes

$30.91

0.76 (2.52%)

GE

General Electric

$18.21

-0.04 (-0.22%)

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  • 14

    Dec

CSCO

Cisco

$35.90

0.02 (0.06%)

09:19
11/18/17
11/18
09:19
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09:19
Periodicals
More needed for Cisco to have 'groove back,' Barron's says »

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  • 27

    Nov

  • 28

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  • 29

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  • 11

    Dec

  • 17

    Jan

  • 17

    Jan

IBM

IBM

$148.97

-0.15 (-0.10%)

09:10
11/18/17
11/18
09:10
11/18/17
09:10
Periodicals
IBM could be next to fetch higher valuation, Barron's says »

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  • 27

    Nov

GE

General Electric

$18.21

-0.04 (-0.22%)

09:05
11/18/17
11/18
09:05
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09:05
Periodicals
Option play offer some help given GE dividend, depressed stock, Barron's says »

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GE

General Electric

$18.21

-0.04 (-0.22%)

09:00
11/18/17
11/18
09:00
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09:00
Periodicals
Risk remains after GE dividend cut, Barron's says »

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TWX

Time Warner

$88.72

0.71 (0.81%)

, T

AT&T

$34.51

-0.01 (-0.03%)

08:21
11/18/17
11/18
08:21
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08:21
Hot Stocks
Week in review: How Trump's policies moved stocks »

Catch up on the top…

TWX

Time Warner

$88.72

0.71 (0.81%)

T

AT&T

$34.51

-0.01 (-0.03%)

NYT

New York Times

$17.65

0.05 (0.28%)

TEX

Terex

$44.82

0.8 (1.82%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Nov

  • 29

    Nov

TPIC

TPI Composites

$19.06

-0.97 (-4.84%)

07:25
11/18/17
11/18
07:25
11/18/17
07:25
Conference/Events
TPI Composites to host investor day »

Investor day to be held…

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  • 05

    Dec

SYNA

Synaptics

$38.21

0.57 (1.51%)

04:55
11/18/17
11/18
04:55
11/18/17
04:55
Conference/Events
Synaptics management to meet with KeyBanc »

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  • 18

    Nov

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

18:01
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11/17
18:01
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18:01
Hot Stocks
S&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices »

S&P Dow Jones Indices…

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

BRCD

Brocade

IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

AVGO

Broadcom

$271.86

-0.25 (-0.09%)

TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

LMOS

Lumos Networks

03/08/13
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  • 28

    Nov

  • 06

    Dec

WGL

WGL Holdings

$84.32

-0.14 (-0.17%)

18:01
11/17/17
11/17
18:01
11/17/17
18:01
Earnings
WGL Holdings reports Q4 adjusted EPS (17c), consensus (19c) »

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TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

, LMOS

Lumos Networks

17:58
11/17/17
11/17
17:58
11/17/17
17:58
Hot Stocks
Tactile Systems to replace Lumos Networks in S&P 600 at open on 11/22 »

EQT Infrastructure…

TCMD

Tactile Systems

$25.98

-0.23 (-0.88%)

LMOS

Lumos Networks

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  • 28

    Nov

IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

, MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

17:56
11/17/17
11/17
17:56
11/17/17
17:56
Hot Stocks
Breaking Hot Stocks news story on Invesco Mortgage, MKS Instruments »

Invesco Mortgage to…

IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

17:55
11/17/17
11/17
17:55
11/17/17
17:55
Hot Stocks
MKS Instruments to replace Brocade in S&P 400 at open on 11/22 »

S&P 500 constituent…

MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

BRCD

Brocade

AVGO

Broadcom

$271.86

-0.25 (-0.09%)

03/08/13
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  • 06

    Dec

UQM

UQM Technologies

$1.18

0.015 (1.29%)

17:24
11/17/17
11/17
17:24
11/17/17
17:24
Syndicate
Breaking Syndicate news story on UQM Technologies »

UQM Technologies files to…

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GS

Goldman Sachs

$238.02

-1.35 (-0.56%)

17:23
11/17/17
11/17
17:23
11/17/17
17:23
Periodicals
Goldman Sachs has $510M lawsuit dismissed, Reuters reports »

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VICL

Vical

$1.94

-0.02 (-1.02%)

17:18
11/17/17
11/17
17:18
11/17/17
17:18
Hot Stocks
Breaking Hot Stocks news story on Vical »

Biotechnology Value Fund…

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LGND

Ligand

$140.31

-1.4 (-0.99%)

17:18
11/17/17
11/17
17:18
11/17/17
17:18
Hot Stocks
Ligand director sells 5,000 common shares »

In a regulatory filing,…

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LGND

Ligand

$140.31

-1.4 (-0.99%)

17:17
11/17/17
11/17
17:17
11/17/17
17:17
Hot Stocks
Ligand CFO sells 6,559 common shares »

In a regulatory filing,…

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LGND

Ligand

$140.31

-1.4 (-0.99%)

17:17
11/17/17
11/17
17:17
11/17/17
17:17
Hot Stocks
Ligand CEO sells 5,269 common shares »

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MBI

MBIA

$9.01

0.13 (1.46%)

17:15
11/17/17
11/17
17:15
11/17/17
17:15
Hot Stocks
Breaking Hot Stocks news story on MBIA »

Fine Capital Partners…

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RBCN

Rubicon

$8.07

0.1218 (1.53%)

17:03
11/17/17
11/17
17:03
11/17/17
17:03
Hot Stocks
Breaking Hot Stocks news story on Rubicon »

Bandera Partners reports…

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