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ABT

Abbott

$55.38

-0.7 (-1.25%)

, MD

Mednax

$44.17

-0.32 (-0.72%)

04:55
10/25/17
10/25
04:55
10/25/17
04:55

American Society of Anesthesiology to hold annual meeting

Anesthesiology 2017 Annual Meeting is being held in Boston on October 21-25.

ABT

Abbott

$55.38

-0.7 (-1.25%)

MD

Mednax

$44.17

-0.32 (-0.72%)

ABBV

AbbVie

$91.69

-2.82 (-2.98%)

BAX

Baxter

$64.35

0.23 (0.36%)

CAE

CAE

$17.32

0.04 (0.23%)

DDD

3D Systems

$12.26

0.57 (4.88%)

EM

Emdeon

XENE

Xenon Pharmaceuticals

TRVN

Trevena

$1.54

-0.06 (-3.75%)

SIEGY

Siemens

$68.28

-0.105 (-0.15%)

NOVA

NovaMed

NUVA

NuVasive

$54.59

-0.38 (-0.69%)

PFE

Pfizer

$36.27

-0.13 (-0.36%)

INFI

Infinity Pharmaceuticals

$2.21

-0.09 (-3.91%)

KRO

Kronos Worldwide

$26.90

0.65 (2.48%)

MNK

Mallinckrodt

$31.06

0.27 (0.88%)

HAE

Haemonetics

$46.49

0.39 (0.85%)

EW

Edwards Lifesciences

$114.25

0.14 (0.12%)

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ABT Abbott
$55.38

-0.7 (-1.25%)

10/19/17
RBCM
10/19/17
NO CHANGE
Target $60
RBCM
Outperform
Abbott price target raised to $60 from $55 at RBC Capital
RBC Capital analyst Glenn Navarro raised his price target on Abbott after Q3 results, citing steady improvement in Medical Devices, return to double-digit growth in Established Pharmaceuticals and prospects for faster U.S. growth in Diagnostics. Navarro says revenue growth will likely accelerate in FY18, maintaining an Outperform rating on Abbott.
10/19/17
COWN
10/19/17
NO CHANGE
Target $68
COWN
Outperform
Abbott price target raised to $68 from $55 at Cowen
Cowen analyst Joshua Jennings raised his price target on Abbott to $68 from $55 following better than expected Q3 results. The analyst also noted the company raised its guidance and he expects operational sales growth to tick higher in Q4. Jennings reiterated his Outperform rating on Abbott shares.
10/23/17
JEFF
10/23/17
NO CHANGE
Target $58
JEFF
Buy
Jefferies survey found all 60 currrent users sticking with Dexcom
Jefferies analyst Raj Denhoy surveyed 60 current users of Dexcom's (DXCM) G5 continuous glucose monitoring system and found that none plan to switch to Abbott's Libre. Approval for Libre with a favorable label and what seems to be an aggressive pricing strategy have turned Dexcom shares "toxic," Denhoy tells investors in a research note titled "What To Do With DXCM? Our Survey Says Stick With It". The analyst says that while competition will likely hurt Dexcom's near-term growth, the survey of current continuous glucose monitoring users and conversations with doctors suggest the company's outlook "might not be so dire." He cut his price target for the shares to $58 from $91 and keeps a Buy rating on the name.
10/19/17
JEFF
10/19/17
NO CHANGE
Target $65
JEFF
Buy
Abbott price target raised to $65 from $58 at Jefferies
Jefferies analyst Raj Denhoy raised his price target for Abbott Laboratories to $65 saying the Q3 results provide more evidence that the sales and earnings growth story is working. Better sales growth justifies a higher multiple, Denhoy tells investors in a post-earnings research note. He keeps a Buy rating on the shares.
MD Mednax
$44.17

-0.32 (-0.72%)

09/18/17
KEYB
09/18/17
UPGRADE
Target $51
KEYB
Overweight
Mednax upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Jason Gurda upgraded Mednax to Overweight with a $51 price target. The analyst sees the company's operating headwinds moderating over the next few quarters and growth in its third specialty, radiology, accelerating in the the near-term. He thinks the shares at current levels are "relatively inexpensive."
09/17/17
KEYB
09/17/17
UPGRADE
Target $51
KEYB
Overweight
MEDNAX upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Jason Gurda upgraded MEDNAX to Overweight with a $51 price target. Gurda expects a moderation in operating headwinds over the next few quarters, cost cutting/new revenue to offset some of the headwinds, thinks the radiology business is poised for strong growth, and views the company as a potential acquisition target over the next few years.
09/18/17
09/18/17
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. Caterpillar (CAT) upgraded to Buy from Neutral at UBS with analyst Steven Fisher saying his firm's latest analysis of private non-residential construction ex-Power shows a re-acceleration in activity in the fourth quarter and mid-single digit growth into 2018. 2. Mednax (MD) upgraded to Overweight from Sector Weight at KeyBanc analyst Jason Gurda saying he sees the company's operating headwinds moderating over the next few quarters and growth in its third specialty, radiology, accelerating in the the near-term. 3. Infosys (INFY) upgraded to Neutral from Sell at Goldman Sachs with the firm saying management uncertainty and guidance risk is already priced in. 4. Klondex Mines (KLDX) upgraded to Buy from Hold at Canaccord. 5. BP (BP) upgraded to Outperform from Market Perform at BMO Capital with analyst Brendan Warn saying he thinks the company's free cash flow will be boosted by "delivery of new upstream volumes, premium downstream product demand and improving (refining marker margin)." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/17
BMOC
10/16/17
INITIATION
Target $46
BMOC
Market Perform
Mednax initiated with a Market Perform at BMO Capital
BMO Capital analyst Matt Borsch initiated Mednax with an Market Perform and $46 price target due to unfavorable macroeconomic factors coupled with a slower-paced acquisition pipeline could lead to additional near-term volatility in financial results.
ABBV AbbVie
$91.69

-2.82 (-2.98%)

10/18/17
GSCO
10/18/17
NO CHANGE
GSCO
Goldman says to swap Celgene for AbbVie
Goldman analyst Jami Rubin thinks AbbVie's (ABBV) pipeline is significantly undervalued and expects it to grow to $25B in 2028 on a risk adjusted basis from $3B in 2017 driven by diverse assets, which essentially offsets losses from Humira. Rubi said Celgene (CELG) faces a cliff when generic competition comes into Revlimid and said the pipeline is not large enough to offset the erosion. The analyst recommends swapping out of Sell rated Celgene and into Buy rated AbbVie.
10/16/17
JEFF
10/16/17
DOWNGRADE
Target $71
JEFF
Hold
Bristol-Myers downgraded to Hold from Buy at Jefferies
Jefferies analyst Jeffrey Holford downgraded Bristol-Myers Squibb (BMY) to Hold saying the shares, following the recent rally, have "significant downside risk" should lung cancer trial CheckMate-227 fail. Further, other consolidation targets, such as AbbVie (ABBV), may have become more attractive, potentially threatening Bristol's downside protection, Holford tells investors in a research note. He attributes the recent rise in Bristol shares to takeover speculation and favorable flows into Biopharma names. Holford still sees "significant potential upside" if CM-227 reads out positively, but he only assigns a 50% probability to this. He lowered his price target for Bristol-Myers shares to $71 from $72. The stock closed Friday down 6c to $65.29.
10/13/17
LEHM
10/13/17
NO CHANGE
LEHM
Barclays cautious on Merck and Regeneron into Q3 results
In a research note previewing the Q3 earnings reports for U.S. Biopharmaceuticals, Barclays analyst Geoff Meacham says he's positive on positive on Amgen (AMGN) and Alexion Pharmaceuticals (ALXN), cautious on Merck (MRK), and bearish on Regeneron (REGN). The analyst made a host of price target changes, including raising Amgen's target to $190 from $180, AbbVie's (ABBV) target to $90 from $68 and Bristol-Myers' target to $65 from $58.
10/16/17
JEFF
10/16/17
NO CHANGE
Target $115
JEFF
Buy
Jefferies ups price target on top global pick AbbVie to $115
Jefferies analyst Jeffrey Holford keeps AbbVie (ABBV) as his top global Pharmaceuticals pick for October, followed by Roche (RHHBY), Novartis (NVS), Bayer (BAYRY), Johnson & Johnson (JNJ), Eli Lilly (LLY) and GlaxoSmithKline (GSK). The analyst raised his price target for AbbVie shares to $115 from $107 and keeps a Buy rating on the name. Among his other target changes include bumping Eli Lilly's to $100 from $96.
BAX Baxter
$64.35

0.23 (0.36%)

10/13/17
MSCO
10/13/17
NO CHANGE
MSCO
Underweight
Baxter impact from Puerto Rico better than some had feared, says Morgan Stanley
Morgan Stanley analyst David Lewis noted that Baxter provided more details on its impact from the disaster in Puerto Rico, stating that he gets the sense production levels are currently still well below 50% of capacity, but may be fully restored to normal capacity by year end. The analyst, who estimate about a 1% headwind to sales and 4c headwind to EPS for the quarter, said the impact appears manageable and better than some had feared. However, Lewis maintains an Underweight rating on Baxter shares.
07/11/17
BMOC
07/11/17
UPGRADE
BMOC
Outperform
Baxter upgraded to Outperform from Market Perform at BMO Capital
08/17/17
SBSH
08/17/17
INITIATION
Target $63
SBSH
Neutral
Baxter initiated with a Neutral at Citi
Citi analyst Amit Hazan started Baxter International with a Neutral rating and $63 price target. The analyst believes further margin improvements will be more modest than the past.
07/11/17
BMOC
07/11/17
UPGRADE
BMOC
Outperform
Baxter upgraded on valuation, outlook at BMO Capital
As noted earlier, BM Capital upgraded Baxter to Outperform from Market Perform. Analyst Joanne.Wuensch upgraded the stock based on valuation and her belief that it "will raise 2017 guidance, and meaningfully increase 2020 operating margin guidance." She also expects its operating margin to continue to rise and expects that its "above peer execution will continue." .Target to $70 from $55.
CAE CAE
$17.32

0.04 (0.23%)

06/01/17
TDSI
06/01/17
DOWNGRADE
TDSI
Hold
CAE downgraded to Hold from Buy at TD Securities
TD Securities analyst Tim James downgrade CAE to Hold from Buy citing valuation.
06/01/17
06/01/17
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. Archer Daniels (ADM) downgraded to Hold from Buy at Argus with analyst David Coleman saying he expects the company's profits to be lowered by grain oversupplies for the rest of this year. He thinks that the company's dividend increases may be "limited" going forward. 2. CAE (CAE) downgraded to Hold from Buy at TD Securities with analyst Tim James citing valuation. 3. Sinopec Shanghai (SHI) downgraded to Sell from Neutral at Citi. 4. Rayonier Advanced Materials (RYAM) downgraded to Hold from Buy at Vertical Research with analyst Chip Dillon citing valuation. 5. Fox Factory (FOXF) downgraded to Neutral from Buy at CL King with analyst Scott Stember citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/30/17
BMOC
08/30/17
UPGRADE
BMOC
Outperform
CAE upgraded to Outperform from Market Perform at BMO Capital
08/30/17
BMOC
08/30/17
UPGRADE
BMOC
Outperform
CAE upgraded on valuation at BMO Capital
As noted earlier, BMO Capital upgraded CAE to Outperform from Market Perform. Analyst Fadi Chamoun upgraded the stock based on valuation, saying that the company's fundamentals remain strong and that there is "no fundamental reason" for the stock's recent retreat. The analyst is upbeat on the company's purchase of a 50% share of an AirAsia joint venture and its recently signed joint venture with Singapore Airlines. Target $23.
DDD 3D Systems
$12.26

0.57 (4.88%)

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.
08/03/17
PIPR
08/03/17
NO CHANGE
Target $14
PIPR
Underweight
3D Systems reported disappointing results, says Piper Jaffray
Piper Jaffray analyst Troy Jensen says 3D Systems (DDD) last night reported disappointing results with weak printer sales being the primary factor in the revenue miss. The weak printer sales are directly correlated with increased competition from HP Inc. (HPQ), General Electric (GE) and others attacking 3D Systems' key product lines, Jensen tells investors in a post-earnings research note. He sees the company's second half of 2017 as "incrementally more challenging" and believes the stock's a "significant premium" to 3D printing peers is unwarranted. The analyst reiterates an Underweight rating on 3D Systems with a $14 price target.
08/04/17
JPMS
08/04/17
UPGRADE
Target $13
JPMS
Neutral
3D Systems upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Paul Coster upgraded 3D Systems to Neutral citing valuation with the shares down 7.3% since his March 2016 downgrade to Underweight. The analyst considers his unchanged price target of $13 as fair value for the shares. 3D Systems closed yesterday down 21%, or $3.62, to $13.39 following its quarterly earnings report.
EM Emdeon

XENE Xenon Pharmaceuticals

01/05/17
JEFF
01/05/17
NO CHANGE
JEFF
Celgene, Alkermes among Jefferies' top 2017 Biotech picks
Jefferies' Biotechnology equity research team laid out their top picks for 2017. Following a volatile two years, the biotech space seeks to achieve "greater equilibrium" in 2017, the analysts write in a research note. They cite increasing competition, slowing volumes, and ramping payer leverage as reasons to remain selective when picking stocks this year and beyond. Among large-caps, Jefferies likes Celgene (CELG) for its "best-in-class growth" and sees limited downside in Gilead (GILD) shares. In the mid-cap space, the firm favors Alkermes (ALKS) given the prospects for Vivitrol and Aristada and a "strong" neurology pipeline as well as Vertex (VRTX). Jefferies' top small-cap picks include Aevi Genomics Medicine, Alder Biopharmaceuticals (ALDR), AMAG Pharmaceuticals (AMAG), DBV Technologies (DBVT), Immunomedics (IMMU), Ignyta (RXDX), Karyopharm (KPTI), RA Pharmaceuticals (RARX), TherapeuticsMD (TXMD) and Xenon Pharmaceuticals (XENE).
06/28/17
JEFF
06/28/17
NO CHANGE
Target $5
JEFF
Buy
Xenon Pharmaceuticals price target lowered to $5 from $8 at Jefferies
Jefferies analyst Maury Raycroft lowered his price target for Xenon Pharmaceuticals to $5 citing the "disappointing" Phase II results for TV-45070 in postherpetic neuralgia. The analyst, noting the company's other programs continue to advance, keeps a Buy rating on Xenon.
03/13/17
JEFF
03/13/17
INITIATION
Target $13
JEFF
Buy
Xenon Pharmaceuticals assumed with a Buy at Jefferies
Jefferies analyst Brian Abrahams assumed coverage of Xenon Pharmaceuticals with a Buy rating and $13 price target. Phase II readouts from XEN801 in acne and TV-45070 in postherpetic neuralgia should provide significant near-term stock catalysts, Abrahams tells investors in a research note. The company's acne and pain programs could generate $1.5B cumulative future royalties/milestones if successful, the analyst estimates.
06/27/17
WELS
06/27/17
NO CHANGE
WELS
Market Perform
Teva TV-45070 trial miss a 'modest disappointment,' says Wells Fargo
Wells Fargo analyst David Maris said TV-45070 has not been a focus for Teva (TEVA) investors, but he still views the news that the company and partner Xenon Pharmaceuticals' (XENE) Phase 2 trial in post-herpetic neuralgia missed its primary endpoint as a "modest disappointment" given the need for Teva's pipeline to offset the tough generic market and the eventual competition for Copaxone. Maris keeps a Market Perform rating on Teva.
TRVN Trevena
$1.54

-0.06 (-3.75%)

02/23/17
HCWC
02/23/17
NO CHANGE
Target $8
HCWC
Buy
Trevena price target lowered to $8 from $11 at H.C. Wainwright
H.C. Wainwright analyst Ed Arce lowered his price target for Trevena to $8 to reflect reduced expectations on Olinvo's commercial uptake following the Phase 3 readouts. The analyst does not believe commercial success is an "all-or-nothing" proposition, however, and keeps a Buy rating on the shares.
03/14/17
OPCO
03/14/17
NO CHANGE
Target $10
OPCO
Outperform
Trevena selloff overdone, says Oppenheimer
Oppenheimer analyst Derek Archila says that despite the company's mixed results relative to morphine, he believes the recent selloff is overdone and that Olinvo will be approved given its statistically significant results versus placebo. The analyst thinks Olinvo remains commercially viable given the trends on improved safety from the APOLLO studies, and should become an important option for patients most at risk for opioid-related adverse events. He reiterates an Outperform rating and $10 price target.
10/13/17
OPCO
10/13/17
NO CHANGE
Target $5
OPCO
Outperform
Trevena selloff yesterday likely overdone, says Oppenheimer
Oppenheimer analyst Derek Archila views Trevena's restructuring plan as a "smart move" with the company needing to conserve cash for an Olinvo approval/launch in the second half of 2018. The analyst continues to believe Olinvo for post-surgical pain will find its "niche" as a treatment for patients at high risk of opioid related adverse events. He views yesterday's 15% pullback as likely overdone and keeps an Outperform rating on Trevena. The analyst, though, cut his price target for the shares to $5 from $8.
10/16/17
LEHM
10/16/17
DOWNGRADE
Target $2.5
LEHM
Equal Weight
Trevena downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Douglas Tsao downgraded Trevena to Equal Weight and cut his price target for the shares to $2.50 from $15. The analyst says the downgrade reflects uncertainty in the commercial outlook for Olinvo. He sees a financing overhang and limited catalysts for the shares.
SIEGY Siemens
$68.28

-0.105 (-0.15%)

01/11/17
GSCO
01/11/17
DOWNGRADE
GSCO
Sell
Siemens downgraded to Sell from Buy at Goldman
Goldman Sachs analyst Daniela Costa double downgraded Siemens to Sell from Buy and lowered her price target for the shares to EUR 100 from EUR 118.
01/10/17
UBSW
01/10/17
UPGRADE
UBSW
Buy
Siemens upgraded to Buy from Neutral at UBS
NOVA NovaMed

NUVA NuVasive
$54.59

-0.38 (-0.69%)

10/09/17
10/09/17
NO CHANGE

Valuations in Medical Technology look more attractive, says RBC Capital
RBC Capital analyst Glenn Novarro says the recent pullback in Medical Technology stocks since Q2 earnings has eliminated the valuation gap relative to other S&P Health Care subsectors. The analyst recommends a "Buy Now" for Johnson & Johnson (JNJ) and "Buy on Weakness" for Abbott Laboratories (ABT) among diversified MedTech names. In Cardiovascular, Novarro says "Buy Now" for Edwards Lifesciences (EW) and "Buy on Weakness" for Boston Scientific (BSX). For Nuvasive (NUVA) and Wright Medical (WMGI), the analyst says management will cut guidance because of hurricane related revenue shortfalls, but the selloff over the past several weeks is already discounting those expectations.
10/12/17
LEER
10/12/17
NO CHANGE
Target $69
LEER
Outperform
NuVasive price target lowered to $69 from $74 at Leerink
Leerink analyst Richard Newitter lowered his price target for NuVasive to $69 from $74 ahead of results. The analyst reiterates an Outperform rating shares.
10/19/17
LEHM
10/19/17
DOWNGRADE
Target $34
LEHM
Underweight
Mazor Robotics downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Matthew Taylor downgraded Mazor Robotics (MZOR) to Underweight with an unchanged price target of $34. The analyst believes the shares at current levels more than reflect the favorable feedback he heard during his firm's survey of 51 U.S. spine surgeons. Mazor has the best sentiment of any spine-related stock, Taylor adds, noting he can't justify the current valuation. On the other hand, the analyst sees greater than 20% upside for NuVasive (NUVA) over the next 12 months and views the recent selloff as overdone.
10/10/17
NEED
10/10/17
NO CHANGE
Target $27
NEED
Strong Buy
K2M Group price target lowered to $27 from $29 at Needham
Needham analyst Mike Matson lowered his price target on K2M Group (KTWO) to $27 following the company's disappointing Q3 pre-announcement and a cut in FY17 revenue guidance. Matson maintains his Strong Buy rating to reflect the company's strong product cycle, potential to be acquired, and discount valuation. He attributes the Q3 shortfall for K2M to delays with signing new distributors because of longer due diligence process and weaker degenerative and deformity procedure growth. The analyst warns that other spine companies - including Globus Medical (GMED) and NuVasive (NUVA) - may be hampered by these constraints.
PFE Pfizer
$36.27

-0.13 (-0.36%)

10/12/17
DADA
10/12/17
NO CHANGE
Target $79
DADA
Buy
Pfizer announcement creates M&A opportunity for Prestige Brands,says DA Davidson
DA Davidson analyst Linda Bolton Weiser says Pfizer's (PFE) announcement that is is reviewing strategic alternatives for its $3.4B OTC drug business could create M&A opportunity down the road for Prestige Brands (PBH). If sold, the price tag could be over $10B, clearly too big for Prestige Brands, but the buyer could later sell some or all of the small brands, the analyst contended. With Prestige Brands continuing to de-lever its balance sheet and approaching the one year anniversary in January of its last deal, Weiser believes the company could within months announce an accretive acquisition. She reiterates a Buy rating and $79 price target on Prestige Brands shares.
09/20/17
09/20/17
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. Pfizer (PFE) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying he believes investors underappreciate the global prospects for breast cancer drug Ibrance, which he expects to maintain its first-to-market advantage. 2. Progressive (PGR) upgraded to Neutral from Underperform at Credit Suisse with analyst Ryan Tunis citing the announcement of much lower than expected Harvey losses of approximately $230M versus his estimate of $550M. 3. American Airlines (AAL) and Southwest (LUV) were upgraded to Outperform from Market Perform at Raymond James. 4. Post Holdings (POST) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow saying he expects the company to be boosted by egg price increases. 5. Nordson (NDSN) upgraded to Buy from Neutral at Longbow with analyst Christopher Dankert saying ATS growth concerns are overblown and views valuation as attractive. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/17
MSCO
09/29/17
NO CHANGE
Target $86
MSCO
Equal Weight
Morgan Stanley calls Verzenio liver toxicity warning a 'minor' negative surprise
Morgan Stanley analyst David Risinger said he was expecting warnings on diarrhea and blood clot risks for Eli Lilly's (LLY) Verzenio, but not liver toxicity, calling that part of the approval a "minor" negative surprise. However, the approval came ahead of the Q1 timeline management had provided, he added. Bloomberg reports that Verzenio will cost $10,948 per month, which is in-line with the current monthly costs for Pfizer's (PFE) Ibrance and Novartis' (NVS) Kisqali, Risinger noted. He keeps an Equal Weight rating and $86 price target on Eli Lilly shares.
10/11/17
DBAB
10/11/17
NO CHANGE
Target $38
DBAB
Buy
Pfizer sale of consumer unit most likely option, says Deutsche Bank
Deutsche Bank analyst Gregg Gilbert believes a sale of Pfizer's Consumer Healthcare unit is the most likely outcome of the company's strategic review process. The analyst says he wouldn't be surprised if Pfizer has already received indications of interest in the business. A sale of the unit could be 3%-4% accretive depending on the price and assuming the company uses the proceeds to repurchase shares in order to offset dilution, Gilbert tells investors in a research note. He likes that management continues to explore strategic alternatives to increase shareholder value and keeps a Buy rating on Pfizer with a $38 price target.
INFI Infinity Pharmaceuticals
$2.21

-0.09 (-3.91%)

10/12/17
WELS
10/12/17
UPGRADE
Target $5
WELS
Outperform
Infinity upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jim Birchenough upgraded Infinity Pharmaceuticals to Outperform and raised his price target for the shares to $5.00 from $1.50. The upgrade follows the selection of IPI-549 monotherapy data as a late breaker oral presentation at the Society of Immunotherapy of Cancer annual meeting in early November. The data have a "reasonable likelihood" of proof-of-concept response rate, and with likely validation of tumor macrophage targeting in immunooncology and a unique mechanism of action, upside potential is not reflected in the current stock price, Birchenough tells investors in a research note.
10/12/17
10/12/17
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. Delta Air Lines (DAL) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying the company is likely to grow unit revenues in fiscal year 2018 due to pricing power in its key domestic hubs and improving international results. 2. Transocean (RIG) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. 3. Canadian Pacific (CP) upgraded to Overweight from Neutral at JPMorgan with analyst Brian Ossenbeck saying he sees a shift to stronger volume growth as the company laps contract losses and records some new contract wins. 4. Infinity upgraded to Outperform from Market Perform at Wells Fargo with analyst Jim Birchenough saying the IPI-549 monotherapy data have a "reasonable likelihood" of proof-of-concept response rate, and with likely validation of tumor macrophage targeting in immunooncology and a unique mechanism of action, upside potential is not reflected in the current stock price. 5. Kroger (KR) upgraded to Equal Weight from Underweight at Stephens with analyst Ben Bienvenu saying he believes the pursuit of strategic alternatives for the convenience store business has potential to unlock value and that the risk/reward is more balanced following the stock's recent pullback. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
KRO Kronos Worldwide
$26.90

0.65 (2.48%)

03/28/17
STPT
03/28/17
DOWNGRADE
STPT
Hold
Kronos Worldwide downgraded to Hold from Buy at Standpoint Research
10/11/17
RHCO
10/11/17
NO CHANGE
Target $24
RHCO
Hold
Kronos Worldwide price target raised to $24 from $21 at SunTrust
SunTrust analyst James Sheehan raised his price target on Kronos Worldwide (KRO) to $24 from $21, citing expectations of titanium dioxide pricing strength for the rest of the year and less competition from China. Sheehan notes that Chinese environmental restrictions are impacting TiO2 production, resulting in plant suspensions and shutdowns. The analyst maintains a Hold rating on the stock given a more fair valuation relative to peer Venator (VNTR).
MNK Mallinckrodt
$31.06

0.27 (0.88%)

10/06/17
UBSW
10/06/17
NO CHANGE
Target $70
UBSW
Buy
Mallinckrodt investors should stay the course, says UBS
UBS analyst Marc Goodman admitted Mallinckrodt remains a controversial name, but he recommends investors stay the course. The analyst said his takeaway from the recent analyst day supports his positive view of the company and he believes its pipeline has several potential commercial successes. Goodman reiterated his Buy rating and $70 price target on Mallinckrodt shares.
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.
10/05/17
PIPR
10/05/17
NO CHANGE
Target $67
PIPR
Overweight
Piper staying bullish on Mallinckrodt after investor day
Piper Jaffray analyst David Amsellem says he's staying bullish on shares of Mallinckrodt after attending yesterday's investor day. The company's pipeline is "emerging and underappreciated," Amsellem tells investors in a research note. Mallinckrodt will be well positioned to drive sustainable cash flows even with the erosion of Ofirmev due to generics starting in 2020 and potential pressure on Inomax as its pipeline matures, Amsellem contends. Further, he continues to believe that the barriers to competition related to Acthar are high. The analyst finds Mallinckrodt attractively valued and reiterates an Overweight rating on the shares with a $67 price target. Canaccord Genuity last night downgraded Mallinckrodt to Hold.
10/04/17
ADAM
10/04/17
DOWNGRADE
ADAM
Hold
Mallinckrodt downgraded to Hold from Buy at Canaccord
Canaccord Genuity analyst Dewey Steadman downgraded Mallinckrodt to Hold and cut his price target for the shares to $40 from $77. The pharmaceutical company closed the trading day down 23c to $37.36. Following today's investor day, Steadman sees a lack of near-term catalysts and believes the story will take time to evolve. Mallinckrodt, instead of embarking on "creative business development" to offset continued concentration and "competitive attacks" on the Acthar franchise, has pursued development-stage assets that will do little to move the needle near-term, Steadman tells investors in a research note following today's close. He sees competition as a matter of when, not if, for Acthar and Inomax.
HAE Haemonetics
$46.49

0.39 (0.85%)

07/13/17
JMPS
07/13/17
UPGRADE
JMPS
Outperform
Haemonetics upgraded on increased confidence in turnaround at JMP Securities
As noted earlier, JMP Securities upgraded Haemonetics to Outperform from Market Perform. Analyst David Turkaly says he has increased confidence in the company's turnaround based on its new management and new strategy. Target $50.
07/13/17
JMPS
07/13/17
UPGRADE
JMPS
Outperform
Haemonetics upgraded to Outperform from Market Perform at JMP Securities
08/08/17
BRRR
08/08/17
UPGRADE
Target $48
BRRR
Outperform
Haemonetics upgraded to Outperform from Market Perform at Barrington
Barrington analyst Michael Petusky upgraded Haemonetics to Outperform with a $48 price target citing increased bullishness following the company's "strong" Q1 results. The analyst views the current valuation as "reasonable."
02/07/17
02/07/17
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. Restoration Hardware (RH) downgraded to Underperform from Neutral at Buckingham with the firm's analyst recommending using Restoration Hardware shares as a source of funds ahead of fourth quarter earnings March 30 as he expects a choppy road to recovery in fiscal 2017, marked by trade offs between revenus and margins. Further, Buckingham said liquidity issues could loom large in investors minds this year with its first tranche of $350M in convertible debt due in June 2019, combined with execution challenges, creates uncertainty around a potential earnings recovery. 2. Capstead Mortgage (CMO) downgraded to Market Perform from Outperform at Wells Fargo with analyst Joel Houck saying a modest dividend reduction in the near term can't be ruled out following the company's "disappointing" Q4 results. 3. Asanko Gold (AKG) downgraded to Hold from Speculative Buy at Canaccord with analyst Rahul Paul citing an update on its Asanko Gold mine expansion. The company indicated that mineral reserve is not expected to materially change, and as a result, the analyst lowered his expected reserve additions. 4. Haemonetics (HAE) downgraded to Market Perform from Outperform at Barrington with analyst Michael Petusky citing reduced expectations for next year following the company's third quarter results. The analyst thinks the shares are about fairly valued. 5. Herc Rentals (HRI) downgraded to Neutral from Buy at Northcoast with analyst John Healy saying shares have exceeded his price target of $48 and views risk/reward as balanced. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
EW Edwards Lifesciences
$114.25

0.14 (0.12%)

08/28/17
WBLR
08/28/17
INITIATION
WBLR
Outperform
Edwards Lifesciences resumed with an Outperform at William Blair
William Blair resumed coverage of Edwards Lifesciences with an Outperform rating.
08/28/17
08/28/17
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. Harley-Davidson (HOG) initiated with a Hold at Aegis. 2. Edwards Lifesciences (EW) resumed with an Outperform at William Blair. 3. Venator Materials (VNTR) was initiated with a Buy at SunTrust and Goldman Sachs, an Overweight at JPMorgan, an Outperform at RBC Capital, a Neutral at UBS, as well as an Equal Weight at Barclays. 4. Clementia Pharmaceuticals (CMTA) was initiated with an Outperform at Leerink and an Overweight at Morgan Stanley. 5. CalAmp (CAMP) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/17
SBSH
09/11/17
NO CHANGE
Target $97
SBSH
Buy
Citi removes Medtronic as best idea for 2017 in Medical Supplies
Citi analyst Amit Hazan removed Medtronic (MDT) as his best idea for 2017 in Medical Supplies & Technology. His best idea is now Sell-rated Edwards Lifesciences (EW). After analyzing his thesis, Hazan is more cautious on Medtronic's sales growth relative to guidance for the year. The analyst highlights management's "consistent" execution challenges and communication problems. He cut his price target for Medtronic to $97 from $104 and keeps a Buy rating on the shares.

TODAY'S FREE FLY STORIES

GES

Guess

$17.94

0.16 (0.90%)

16:16
11/21/17
11/21
16:16
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16:16
Earnings
Guess reports Q3 adjusted EPS 12c, consensus 12c »

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$NYE

NYSE Market Internals

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Technical Analysis
NYSE market internals summary »

Volume was average for…

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AVA

Avista

$51.64

-0.19 (-0.37%)

16:14
11/21/17
11/21
16:14
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16:14
Hot Stocks
Avista shareholders approve acquisition by Hydro One at $53 per share »

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AXTA

Axalta Coating

$33.85

0.31 (0.92%)

, AKZOY

AkzoNobel

$30.57

0.085 (0.28%)

16:14
11/21/17
11/21
16:14
11/21/17
16:14
Periodicals
Axalta Coating, AkzoNobel abandon merger talks, WSJ says »

Axalta Coating (AXTA) and…

AXTA

Axalta Coating

$33.85

0.31 (0.92%)

AKZOY

AkzoNobel

$30.57

0.085 (0.28%)

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CRM

Salesforce

$108.48

1.11 (1.03%)

16:12
11/21/17
11/21
16:12
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16:12
Hot Stocks
Salesforce CEO: 'We're on a path to exceed $20 billion' »

"Salesforce…

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CRM

Salesforce

$108.58

1.21 (1.13%)

16:11
11/21/17
11/21
16:11
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16:11
Hot Stocks
Breaking Hot Stocks news story on Salesforce »

Salesforce reports…

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HPQ

HP Inc.

$22.45

0.33 (1.49%)

16:10
11/21/17
11/21
16:10
11/21/17
16:10
Hot Stocks
HP Inc. drops 6% in afterhours trading after earnings, guidance »

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CRM

Salesforce

$108.55

1.18 (1.10%)

16:10
11/21/17
11/21
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16:10
Hot Stocks
Salesforce reports deferred revenue $4.39B, up 26% y/y »

Up 24% in constant…

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HPE

HP Enterprise

$14.15

0.055 (0.39%)

16:09
11/21/17
11/21
16:09
11/21/17
16:09
Earnings
Breaking Earnings news story on HP Enterprise »

HP Enterprise backs FY18…

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GME

GameStop

$16.64

0.2 (1.22%)

16:09
11/21/17
11/21
16:09
11/21/17
16:09
Earnings
GameStop sees FY17 EPS $3.10-$3.40, consensus $3.31 »

Sees FY17 comparable…

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  • 21

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CRM

Salesforce

$108.45

1.0775 (1.00%)

16:09
11/21/17
11/21
16:09
11/21/17
16:09
Earnings
Salesforce sees FY19 revenue $12.45B-$12.5B »

An increase of 19%-20%…

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  • 21

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QADB

QAD Inc

$31.74

1.74 (5.80%)

16:08
11/21/17
11/21
16:08
11/21/17
16:08
Earnings
QAD sees FY18 revenue $300M-$302M, consensus $294.59M »

FY18 revenue view…

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HPQ

HP Inc.

$22.46

0.335 (1.51%)

16:08
11/21/17
11/21
16:08
11/21/17
16:08
Hot Stocks
HP Inc. says results demonstrate HP 'strong and getting stronger' »

"Our results…

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CRM

Salesforce

$108.60

1.24 (1.16%)

16:08
11/21/17
11/21
16:08
11/21/17
16:08
Earnings
Salesforce raises FY18 adjusted EPS view to $1.32-$1.33 from $1.29-$1.31 »

FY18 consensus $1.32.…

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HPE

HP Enterprise

$14.16

0.065 (0.46%)

16:08
11/21/17
11/21
16:08
11/21/17
16:08
Hot Stocks
HP Enterprise announces Antonio Neri to replace Meg Whitman as CEO »

Hewlett Packard…

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QADB

QAD Inc

$31.74

1.74 (5.80%)

16:07
11/21/17
11/21
16:07
11/21/17
16:07
Earnings
QAD reports Q3 GAAP EPS (1c), consensus 7c »

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HPQ

HP Inc.

$22.45

0.33 (1.49%)

16:07
11/21/17
11/21
16:07
11/21/17
16:07
Earnings
HP Inc. raises FY18 EPS view to $1.75-$1.85, consensus $1.79 »

For FY18, HP raises…

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HPE

HP Enterprise

$14.16

0.065 (0.46%)

16:06
11/21/17
11/21
16:06
11/21/17
16:06
Earnings
Breaking Earnings news story on HP Enterprise »

HP Enterprise sees Q1 EPS…

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GME

GameStop

$16.52

0.075 (0.46%)

16:06
11/21/17
11/21
16:06
11/21/17
16:06
Earnings
GameStop reports Q3 EPS 54c, consensus 43c »

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  • 21

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CRM

Salesforce

$108.69

1.315 (1.22%)

16:06
11/21/17
11/21
16:06
11/21/17
16:06
Earnings
Salesforce sees Q4 adjusted EPS 32c-33c, consensus 34c »

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HPQ

HP Inc.

$22.45

0.33 (1.49%)

16:06
11/21/17
11/21
16:06
11/21/17
16:06
Earnings
Breaking Earnings news story on HP Inc. »

HP Inc. sees Q1 EPS…

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  • 21

    Nov

ILMN

Illumina

$212.05

1.38 (0.66%)

16:06
11/21/17
11/21
16:06
11/21/17
16:06
Hot Stocks
Illumina wins infringement suit against Premaith Health, Ariosa Diagnostics »

Illumina announced that…

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  • 30

    Nov

HPE

HP Enterprise

$14.16

0.065 (0.46%)

16:06
11/21/17
11/21
16:06
11/21/17
16:06
Earnings
HP Enterprise reports Q4 EPS 31c, consensus 28c »

Reports Q4 revenue $7.8B,…

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  • 21

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  • 11

    Dec

HPQ

HP Inc.

$22.46

0.335 (1.51%)

16:05
11/21/17
11/21
16:05
11/21/17
16:05
Earnings
HP Inc. reports Q4 EPS 44c, consensus 44c »

Reports Q4 revenue…

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  • 21

    Nov

CRM

Salesforce

$108.76

1.39 (1.29%)

16:05
11/21/17
11/21
16:05
11/21/17
16:05
Earnings
Salesforce reports Q3 adjusted EPS 39c, consensus 37c »

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