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NVS

Novartis

$85.91

0.17 (0.20%)

, MCD

McDonald's

$163.34

-2.96 (-1.78%)

20:25
10/23/17
10/23
20:25
10/23/17
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.25... McDonalds (MCD), consensus $1.77... 3M (MMM), consensus $2.21... United Technologies (UTX), consensus $1.68... Eli Lilly (LLY), consensus $1.03... Lockheed Martin (LMT), consensus $3.26... Caterpillar (CAT), consensus $1.27... Biogen (BIIB), consensus $5.70... General Motors (GM), consensus $1.11... Sherwin-Williams (SHW), consensus $4.67... Infosys (INFY), consensus 24c... Corning (GLW), consensus 41c... PACCAR (PCAR), consensus $1.08... Stanley Black & Decker (SWK), consensus $1.87... Fifth Third Bancorp (FITB), consensus 47c... Centene (CNC), consensus $1.24... Waters (WAT), consensus $1.74... Interpublic Group of Companies (IPG), consensus 33c... Westinghouse Air Brake Technologies (WAB), consensus 84c...Hubbell (HUBB), consensus $1.50... JetBlue Airways (JBLU), consensus 53c... Polaris Industries (PII), consensus $1.23... Graphic Packaging (GPK), consensus 18c... Ryder System (R), consensus $1.29... Commvault Systems (CVLT), consensus 26c.

NVS

Novartis

$85.91

0.17 (0.20%)

MCD

McDonald's

$163.34

-2.96 (-1.78%)

MMM

3M

$221.55

0.23 (0.10%)

UTX

United Technologies

$120.89

-0.04 (-0.03%)

LLY

Eli Lilly

$87.18

-0.05 (-0.06%)

LMT

Lockheed Martin

$320.73

0.73 (0.23%)

CAT

Caterpillar

$131.68

0.32 (0.24%)

BIIB

Biogen

$328.55

-9.55 (-2.82%)

GM

General Motors

$45.15

-0.46 (-1.01%)

SHW

Sherwin-Williams

$386.58

-3.12 (-0.80%)

INFY

Infosys

$14.83

0.27 (1.85%)

GLW

Corning

$30.01

-0.05 (-0.17%)

PCAR

Paccar

$74.65

-0.27 (-0.36%)

SWK

Stanley Black & Decker

$158.19

-1.93 (-1.21%)

FITB

Fifth Third

$28.43

-0.17 (-0.59%)

CNC

Centene

$97.99

1.49 (1.54%)

WAT

Waters

$187.55

-0.59 (-0.31%)

IPG

Interpublic Group

$20.63

-0.25 (-1.20%)

WAB

Wabtec

$76.39

-0.48 (-0.62%)

HUBB

Hubbell

$121.32

-1.75 (-1.42%)

JBLU

JetBlue

$19.88

-0.47 (-2.31%)

PII

Polaris Industries

$106.92

0.46 (0.43%)

GPK

Graphic Packaging

$14.27

-0.01 (-0.07%)

R

Ryder

$82.94

-0.71 (-0.85%)

CVLT

Commvault

$57.90

-0.65 (-1.11%)

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NVS Novartis
$85.91

0.17 (0.20%)

10/20/17
10/20/17
DOWNGRADE
Target $0.9

Hold
Durect downgraded to Hold on 'major disappointment' of Posimir failure at Stifel
As previously reported, Stifel analyst Adam Walsh downgraded Durect (DRRX) to Hold from Buy, calling the fact that the company's Phase 3 Posimir trial in post-surgical pain did not meet its primary efficacy endpoint a "major disappointment." He has removed all Posimir revenue from his model and expects Novartis' (NVS) Sandoz will end the Posimir partnership. Walsh lowered his price target to 90c from $3.00 on Durect shares, which are down 55% to 87c in pre-market trading.
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.
10/09/17
MAXM
10/09/17
NO CHANGE
Target $56
MAXM
Buy
Juno price target raised to $56 on higher JCAR017 price assumptions at Maxim
Maxim analyst Jason McCarthy has increased his assumptions for pricing of Juno Therapeutics' (JUNO) JCAR017 to $450K from $300K in the U.S. and to $375K from $200K in the EU, leading him to also raise his price target on the stock to $56 from $34. He believes CAR-T remains "a three horse race," adding that while Novartis (NVS) and Gilead's (GILD) Kite are ahead, "Juno is coming up from behind." McCarthy maintains his Buy rating on Juno shares.
10/03/17
JANY
10/03/17
NO CHANGE
Target $12
JANY
Buy
Cryoport price target raised to $12 from $10 at Janney Capital
Janney Capital analyst Paul Knight raised his revenue and earnings estimates for Cryoport (CYRX) to account for previous announcements that it will be the supplier of logistics and shipping solutions for Novartis (NVS) and Kite (KITE) if their regenerative medicines are approved. The analyst, who raised his fair value estimate on Cryoport shares to $12 from $10, also noted that the company is involved in 172 additional clinical trials. He keeps a Buy rating on Cryoport shares.
MCD McDonald's
$163.34

-2.96 (-1.78%)

10/18/17
LEHM
10/18/17
NO CHANGE
Target $325
LEHM
Equal Weight
Chipotle price target lowered to $325 from $370 at Barclays
Barclays analyst Jeffrey Bernstein lowered his price target for Chipotle Mexican Grill (CMG) to $325 saying he's cautious on the cautious into the Q3 earnings results. Fundamentals for restaurants are increasingly challenged and visibility remains limited, Bernstein tells investors in a research previewing the sector's earnings reports. His best ideas are McDonald's (MCD) followed by Wendy's (WEN) in quick service and Darden (DRI) followed by Bloomin' Brands (BLMN) in casual. The analyst adds that he's "intrigued" by Starbucks (SBUX).
10/23/17
BOFA
10/23/17
NO CHANGE
Target $185
BOFA
Buy
McDonald's strong business momentum to continue in Q3, says BofA/Merrill
BofA/Merrill analyst Gregory Francfort expects McDonald's strong business momentum to continue into Q3 with 5.5% global comps and 3.5% U.S. comps. The analyst said McDonald's remains a top pick despite the strong year-to-date performance given expectations for strong same store sales trends, especially on a global basis. Francfort rates McDonald's a Buy with a $185 price target.
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.
10/17/17
NOMU
10/17/17
NO CHANGE
Target $183
NOMU
Buy
Nomura ups McDonald's target to $183 after franchisee survey
Nomura Instinet analyst Mark Kalinowski raised his price target for McDonald's shares to $183 from $176 after surveying 27 domestic franchisees with approximately 241 stores. Based on the results of the survey, the analyst increased his Q3 U.S. same-store sales forecast by 60 basis points to up 3.9%. Drivers in the quarter included value-oriented promotions, Kalinowski tells investors in a research note. He believes McDonald's is seeing better than expected sales momentum in the U.S. and Japan and keeps a Buy rating on the shares.
MMM 3M
$221.55

0.23 (0.10%)

10/11/17
JPMS
10/11/17
NO CHANGE
JPMS
Overweight
Honeywell could revalue to as high as $205 per share, says JPMorgan
JPMorgan analyst C. Stephen Tusa says marking Honeywell (HON) to 3M (MMM) suggests a hypothetical value for the shares of $205. The analyst expects the remaining Honeywell to revalue higher versus peers and views yesterday's announcements as a positive for the stock. Tusa continues to see "multiple ways to win here," including fundamental earnings upside, re-rating, and balance sheet upside helped by potential tax reform. The analyst keeps an Overweight rating on Honeywell with a $156 price target.
09/20/17
JPMS
09/20/17
DOWNGRADE
Target $201
JPMS
Underweight
3M downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst C. Stephen Tusa downgraded 3M to Underweight saying the shares look "expensive" on almost any metric. The analyst sees the company's relative organic growth weakening further in 2018 as auto, electronics, and China slow. He raised his price target for the shares to $201 from $185.
08/14/17
SBSH
08/14/17
NO CHANGE
Target $228
SBSH
Buy
3M still Citi's top Multi-Industry pick after management meetings
After hosting meetings with management, Citi analyst Andrew Kaplowitz says 3M remains his top pick in his Multi-Industry universe. Pricing concerns seem overblown and the post-quarter selloff provides a buying opportunity, Kaplowitz tells investors in a research note. The analyst sees "continued key growth catalyst" in 3M's recent strategic investment initiative. He keeps a Buy rating on the shares with a $228 price target.
10/11/17
FBCO
10/11/17
NO CHANGE
Target $237
FBCO
Outperform
3M price target raised to $237 from $229 at Credit Suisse
Credit Suisse analyst Julian Mitchell raised his price target for 3M to $237 from $229 ahead of results. The analyst reiterates an Outperform rating on the shares.
UTX United Technologies
$120.89

-0.04 (-0.03%)

09/11/17
BERN
09/11/17
DOWNGRADE
Target $137
BERN
Market Perform
Rockwell Collins downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Douglas Harned downgraded Rockwell Collins (COL) to Market Perform from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140/share. The analyst says the stock has moved above $130 related to the deal, and he is concerned that Rockwell Collins' acceptance of a $140 deal price indicates that internal forecasts are more pessimistic than his. He kept a $137 price target on Rockwell Collin's shares, but lowered hist target for United Technologies to $126 from $135, while reiterating a Market-Perform rating.
09/06/17
STFL
09/06/17
NO CHANGE
STFL
Stifel says United Tech deal strategic, not a sign of M&A 'floodgates opening'
Stifel analyst Joseph DeNardi said one of the only risks he sees to defense stocks' multiples would be a shift in cash deployment strategy from a focus on dividends and buybacks to M&A. However, he views United Technologies' (UTX) planned acquisition of Rockwell Collins (COL) as strategic and largely focused on its desire to regain leverage against Boeing (BA) and Airbus (EADSY) and not indicative of the M&A "floodgates opening" in the defense sector. Other publicly traded companies in the defense space include BAE Systems (BAESY), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).
09/13/17
BARD
09/13/17
DOWNGRADE
BARD
Neutral
Rockwell Collins downgraded to Neutral from Outperform at Baird
Baird analyst Peter Arment downgraded Rockwell Collins (COL) to Neutral from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140 per share.
09/07/17
WOLF
09/07/17
DOWNGRADE
WOLF
Peer Perform
Rockwell Collins downgraded to Peer Perform from Outperform at Wolfe Research
Wolfe Research analyst Hunter Keay downgraded yesterday afternoon Rockwell Collins (COL) to Peer Perform following the company's agreement to be acquired by United Technologies (UTX).
LLY Eli Lilly
$87.18

-0.05 (-0.06%)

10/18/17
SBSH
10/18/17
UPGRADE
Target $72
SBSH
Buy
Merck upgraded to Buy from Neutral at Citi
Citi analyst Andrew Baum upgraded Merck (MRK) to Buy and raised his price target for the shares to $72 from $65. The healthcare giant closed yesterday down 12c to $63.22. While Merck's non-Keytruda business continues to erode, the market is undervaluing both the ultimate patient derived xenograft market size and Merck's likely market share with Keytruda, Baum tells investors in a research note. The analyst revised his initial PDx market estimates of $35bn to at least $50bn and increased his 2025 Keytruda forecasts from $9B to$15B. The analyst prefers Eli Lilly (LLY), Bristol-Myers (BMY) and Merck among the U.S. pharmaceutical majors. He also downgraded Roche (RHHBY) this morning to Neutral.
10/10/17
BMOC
10/10/17
NO CHANGE
Target $73
BMOC
Underperform
Eli Lilly to have good Q3, but concerns remain for FY19-20, says BMO Capital
BMO Capital analyst Alex Arfaei says Eli Lilly will have a good Q3, ending FY17 at the top end of guidance. However, Arfaei contends that longer-term concerns remain warranted because of price and volume erosion for insulin drug Humulin and slower growth of type-2 diabetes drug Jardiance. The analyst maintains his Underperform rating on Eli Lilly, raising his price target to $73 from $71.
10/10/17
10/10/17
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. HSBC (HSBC) downgraded to Underperform from Neutral at Credit Suisse with analyst Sanjay Jain citing valuation. 2. Jabil Circuit (JBL) downgraded to Sell from Neutral at Goldman Sachs with analyst Mark Delaney saying street expectations, which assume Jabil's earnings grow double digits year-over-year for both of the next two years, are overly optimistic. 3. Carlyle Group (CG) downgraded to Neutral from Buy at Citi with analyst William Katz citing valuation with the shares up 60% year-to-date. 4. Eli Lilly (LLY) downgraded to Neutral from Outperform at Credit Suisse with analyst Vamil Divan saying the valuation looks full with the shares up 13% since mid-August. 5. Ralph Lauren (RL) downgraded to Sell from Hold at Miller Tabak. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LMT Lockheed Martin
$320.73

0.73 (0.23%)

09/18/17
STFL
09/18/17
NO CHANGE
STFL
Hold
Other bidders unlikely to challenge Northrop for Orbital ATK, says Stifel
Stifel analyst Joseph DeNardi thinks the deal to acquire Orbital ATK (OA) makes sense for Northrop Grumman (NOC) given the complimentary nature of their main business lines. He also thinks other bidders seem unlikely, since he believes Lockheed Martin (LMT) would face anti-trust issues. DeNardi has a Hold rating on Northrop shares.
09/29/17
DBAB
09/29/17
UPGRADE
Target $210
DBAB
Buy
Deutsche sees rise in missile defense spending, upgrades Raytheon
Deutsche Bank analyst Myles Walton upgraded Raytheon (RTN) to Buy from Hold and raised his price target for the shares to $210 from $180. Raytheon is the most exposed to missile defense trends, Walton told investors earlier in a research note. He believes the politics and growing missile threats to U.S. territory are "setting the table for another leg up" in missile defense spending after declining nearly 25% over the last decade. The analyst sees his other Buy-rated defense names, including Northrop Grumman (NOC) and Lockheed Martin (LMT), benefiting as well. Walton raised his price target for Northrop to $325 from $285 and for Lockheed to $340 from $305.
10/09/17
RBCM
10/09/17
NO CHANGE
Target $209
RBCM
Outperform
Defense and Aerospace sector poised for strong Q3, says RBC Capital
RBC Capital analyst Matthew McConnell previewed the Q3 earnings season for the defense and commercial aviation industries, raising price targets across the sectors. In defense, McConnell likes the companies with focus on international markets, where demand has not yet been reflected in orders or backlog. Among his favorites, McConnell raises the price target on Raytheon (RTN) to $209 from $193, General Dynamics (GD) to $241 from $220, Northrop Grumman (NOC) to $324 from $294, Lockheed Martin (LMT) to $327 from $289, and Triumph (TGI) to $38 from $33. He also states that there may be room for some consolidation in defense given that budget up-cycle is only 2 years old, profiling Astronics (ATRO), Barnes (B), Esterline (ESL), Heico (HEI), and Textron (TXT) as some of the potential targets. In commercial aviation, McConnell sees Boeing (BA) upside driven by continued strong air traffic growth, mature sales campaigns, and expectations for a strong wide-body replacement cycle starting in the early 2020s, raising his price target on Boeing to $269 from $235.
CAT Caterpillar
$131.68

0.32 (0.24%)

10/18/17
FBCO
10/18/17
NO CHANGE
Target $146
FBCO
Outperform
Caterpillar price target raised to $146 from $133 at Credit Suisse
Credit Suisse analyst Jamie Cook raised his price target for Caterpillar to $146 from $133 saying recent dealer survey results suggest Q3 surprising on the upside, and dealers seeing momentum continuing into 2018. The analyst reiterates an Outperform rating on the shares.
10/16/17
WELS
10/16/17
NO CHANGE
Target $150
WELS
Outperform
Caterpillar price target raised to $150 from $140 at Wells Fargo
Wells Fargo analyst Andy Casey raised his price target for Caterpillar to $150 from $140 on valuation. The analyst reiterates an Outperform rating on the shares.
10/12/17
GSCO
10/12/17
NO CHANGE
GSCO
Goldman Sachs Tactical Trades ahead of earnings
Goldman analysts led by John Marshall highlight some of the firm's most out-of-consensus opportunities ahead of the earnings season. The firm sees potential for upward earnings revisions to drive share upside in Caterpillar (CAT), ENGlobal (ENTG), McDonald's, (MCD) and Netflix (NFLX) and downwards earnings revisions to drive downside in Grainger (GWW), Cree (CREE), and Tesla (TSLA).
10/09/17
GSCO
10/09/17
NO CHANGE
GSCO
Caterpillar price target raised to $158 at Goldman Sachs
Goldman Sachs analyst Jerry Revich raised his price target on Caterpillar to $158 from $143, saying he sees about $9B of stock buybacks over the next three years, as well as upside to Caterpillar's "Construction Industries mid-cycle margin target," and "returns improvement opportunities" across the company's portfolio. Goldman Sachs has a Buy rating on Caterpillar shares.
BIIB Biogen
$328.55

-9.55 (-2.82%)

10/23/17
SBSH
10/23/17
DOWNGRADE
Target $360
SBSH
Neutral
Biogen downgraded to Neutral from Buy at Citi
Citi analyst Robyn Karnauskas downgraded Biogen to Neutral while raising her price target for the shares to $360 from $320.
10/23/17
SBSH
10/23/17
DOWNGRADE
Target $360
SBSH
Neutral
Citi says Biogen thesis priced in, downgrades to Neutral
Citi analyst Robyn Karnauskas downgraded Biogen to Neutral from Buy while raising her price target for the shares to $360 from $320. The analyst says her Spinraza thesis has largely played out while spinal muscular atrophy competition and multiple sclerosis pricing moves her to the sidelines. The market does not think the Street fully appreciates Avexis competition and in coming year, Karnauskas tells investors in a research note.
10/23/17
GUGG
10/23/17
INITIATION
Target $402
GUGG
Buy
Biogen initiated with a Buy at Guggenheim
Guggenheim analyst Adnan Butt initiated Biogen with a Buy and $402 price target.
10/23/17
10/23/17
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. General Electric (GE) was downgraded to Neutral from Buy at UBS and to Underweight from Equal Weight at Morgan Stanley. 2. SunTrust (STI) was downgraded to Hold from Buy at Sandler O'Neill and to Market Perform from Outperform at Raymond James. 3. Celgene (CELG) assumed with a Neutral from Overweight at Piper Jaffray with analyst Christopher Raymond saying that after Friday's failure of GED-301, investors are now "far less likely to assign the benefit of doubt to other pipeline investments." 4. Buckingham downgraded Foot Locker (FL) to Neutral from Buy and slashed its price target to $29 from $47 telling investor's major catalysts are several quarters away and risk/reward is mostly balanced. 5. Biogen (BIIB) downgraded to Neutral from Buy at Citi with analyst Robyn Karnauskas saying her Spinraza thesis has largely played out while spinal muscular atrophy competition and multiple sclerosis pricing moves her to the sidelines. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GM General Motors
$45.15

-0.46 (-1.01%)

10/13/17
LEHM
10/13/17
DOWNGRADE
Target $14
LEHM
Equal Weight
Ford downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Brian Johnson downgraded Ford (F) to Equal Weight with an unchanged price target of $14. The company is starting "substantially behind" General Motors (GM) in current North America margins, and behind both GM and Tesla (TSLA) in its positioning for the "megatrends and disruptive mobility," Johnson tells investors in a research note. The analyst believes it will take several years for CEO Jim Hackett's initiatives to show through in results.
10/12/17
SBSH
10/12/17
NO CHANGE
SBSH
Buy
GM cutting production at Detroit plant a positive, says Citi
Citi analyst Itay Michaeli noted media reports that General Motors plans six weeks of downtime at its Detroit-Hamtramck plant, which he views as a positive since it shows that GM is staying disciplined on price. The analyst, who argues that actions like this reported production cut should be reason for a higher multiple for OEMs who are being more price disciplined now than they were last cycle, keeps a Buy rating on GM shares.
10/13/17
10/13/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Motors (GM) upgraded to Overweight from Equal Weight at Barclays with analyst Brian Johnson saying GM is set to recoup lost market capitalization from Tesla (TSLA). 2. Entergy (ETR) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying new management's fundamental changes will yield better operations and results. 3. Saratoga Investment (SAR) upgraded to Buy from Neutral at Compass Point. 4. Ethan Allen (ETH) upgraded to Buy from Neutral at Dougherty with analyst Jeremy Hamblin saying that orders from the U.S. State Department create tailwinds for fiscal 2018 and beyond and that recovery efforts following the recent natural disasters could create a pickup in orders. 5. Genesis Energy (GEL) upgraded to Equal Weight from Underweight at Barclays with analyst Theresa Chen saying the 31% distribution cut is a "logical move" that puts the partnership on better footing to de-lever and grow the business. The analyst lowered her price target for the shares to $27 from $31. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/17
LEHM
10/13/17
UPGRADE
Target $55
LEHM
Overweight
General Motors upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Brian Johnson upgraded General Motors (GM) to Overweight and raised his price target for the shares to $55 from $41. The automaker closed yesterday down 58c to $44.89. GM is set to recoup lost market capitalization from Tesla (TSLA), Johnson tells investors in a research note partially titled "Mary to Elon: Give me my market cap back." General Motors is making "significant progress" on electrification and autonomy, just as Tesla faces issues ramping production, the analyst writes. He expects the investor narrative to shift towards his view that GM may not be the "'dinosaur' that its low multiple would imply." Johnson says the potential "Tesla effect" on keeping GM's multiple compressed despite strong earnings can't be underestimated. The analyst this morning also downgraded Ford (F) to Equal Weight.
SHW Sherwin-Williams
$386.58

-3.12 (-0.80%)

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
10/05/17
UPGRADE
Target $435

Buy
Sherwin-Williams upgraded to Buy on earnings growth at BofA/Merrill
As previously reported, BofA/Merrill upgraded Sherwin-Williams two notches to Buy from Underperform and increased its price target to $435 from $325. Analyst Steve Byrne said 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. Further, the analyst sees the potential for US architectural gallons growing at a 5% CAGR in 2018-2020 versus 1-2% prior and said Valspar integration risks are subsiding and synergies are tracking ahead of expectations.
10/05/17
BOFA
10/05/17
UPGRADE
BOFA
Buy
Sherwin-Williams upgraded to Buy from Underperform at BofA/Merrill
10/18/17
ZELM
10/18/17
UPGRADE
ZELM
Buy
Sherwin-Williams upgraded to Buy from Hold at Zelman
INFY Infosys
$14.83

0.27 (1.85%)

08/28/17
DBAB
08/28/17
UPGRADE
DBAB
Buy
Infosys upgraded to Buy from Hold at Deutsche Bank
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.
09/17/17
GSCO
09/17/17
UPGRADE
GSCO
Neutral
Infosys upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs upgraded Infosys to Neutral saying management uncertainty and guidance risk is already priced in.
08/28/17
08/28/17
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. Infosys (INFY) upgraded to Buy from Outperform at CLSA. 2. Plains All American (PAA) was upgraded to Strong Buy from Outperform at Raymond James and to Outperform from Market Perform at BMO Capital. 3. Fiat Chrysler (FCAU) upgraded to Neutral from Underperform at BofA/Merrill with analyst John Murphy citing improved earnings and a "slightly" better balance sheet. 4. ENEL Generacion (EOCC) upgraded to Sector Perform from Underperform at Scotiabank. 5. Pebblebrook Hotel (PEB) upgraded to In Line from Underperform at Evercore ISI with analyst Steve Sakwa citing an improved ramp-up forecast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GLW Corning
$30.01

-0.05 (-0.17%)

04/19/17
04/19/17
NO CHANGE

Zayo Group has negative read through from Verizon deal, says Pacific Crest
After Verizon (VZ) agreed to buy fiber from Corning (GLW), Pacific Crest analyst Brandon Nispel says the deal indicates that Verizon prefers to build a fiber network on its own instead of leasing one from a third party. The analyst views this development as negative for Zayo which is building and looking to lease fiber networks. He keeps a Sector Weight rating on the stock.
04/26/17
UBSW
04/26/17
NO CHANGE
Target $29
UBSW
Neutral
Corning doing better than expected, says UBS
UBS analyst Tejas Venkatesh noted Corning (GLW) beat expectations for Q1 and its guidance surpassed expectations, leading him to say the company is doing better than expected. He also believes the company's deal with Verizon (VZ) is significant, though he maintains his Neutral rating on Corning shares due to currency risk that keeps him on the sidelines. Venkatesh raised his price target to $28.50 from $26 on Corning.
08/15/17
GSCO
08/15/17
DOWNGRADE
Target $26
GSCO
Sell
Corning downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Doug Clark downgraded Corning to Sell (GLW) and cut his price target for the shares to $26 from $29. The analyst believes the LCD cycle "may be approaching a downturn." Supply chain inventory levels have been ticking higher, panel prices have begun to decline and TV makers are reducing production targets, Clark tells investors in a research note. He sees risk to estimates and Corning's valuation. Clark this morning also upgraded GoPro (GPRO) to Neutral.
04/19/17
ARGS
04/19/17
NO CHANGE
ARGS
Corning price target raised to $33 from $30 at Argus
Argus analyst Jim Kelleher increased his price target on Corning (GLW) after the company announced a $1.05B fiber supply deal with Verizon (VZ). The analyst says that Corning's valuation is attractive and keeps a Buy rating on the shares.
PCAR Paccar
$74.65

-0.27 (-0.36%)

10/04/17
JPMS
10/04/17
UPGRADE
Target $83
JPMS
Overweight
Paccar upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan upgraded Paccar (PCAR) to Overweight and raised her price target for the shares to $83 from $70. North American Class 8 retail truck sales have accelerated in recent months as orders, up 44% year-to-date, are finally turning into actual sales, Duignan tells investors in a research note. Improved truck demand in 2018 should "disproportionately benefit" Paccar, the analyst contends. Duignan also raised her price target for Neutral-rated Cummins (CMI) to $172 from $154 and Neutral-rated Navistar (NAV) to $41 from $36.
09/05/17
BUCK
09/05/17
INITIATION
BUCK
Neutral
Paccar initiated with a Neutral at Buckingham
Buckingham analyst Neil Frohnapple started coverage of Paccar with a $65 price target and a Neutral rating. The analyst thinks that the stock's risk/reward ratio is "balanced at this time."
07/06/17
UBSW
07/06/17
NO CHANGE
Target $75
UBSW
Sell
UBS incrementally more positive on Paccar after truck survey
UBS analyst Steven Fisher says his firm's latest proprietary truck survey showed positive preliminary results. Of the 50 independent U.S. trucking company responses, 55% said business conditions are better than last year, 70% expect freight demand to grow in the second half of the year and 75% expect truckload capacity to tighten over the next 12 months, Fisher tells investors in a research note. The analyst thinks increased freight demand and tighter truckload capacity could result in additional truck purchases and is incrementally more positive on shares of Paccar. He reiterates a Buy rating on the name with a $75 price target.
10/03/17
UBSW
10/03/17
NO CHANGE
Target $82
UBSW
Buy
Paccar price target raised to $82 from $76 at UBS
UBS analyst Steven Fisher raised his price target on Paccar to $82 from $76 to reflect the increasing tightness of the U.S. truck market, which he expects will drive upside to 2018 earnings. He said the tightness is being driven by improving economic activity and hurricane impacts. Fisher reiterated his Buy rating on Paccar shares.
SWK Stanley Black & Decker
$158.19

-1.93 (-1.21%)

10/20/17
NRCS
10/20/17
INITIATION
Target $193
NRCS
Buy
Stanley Black & Decker initiated with a Buy at Northcoast
Northcoast analyst Thomas Hayes initiated Stanley Black & Decker with a Buy and price target $193.
10/20/17
10/20/17
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. eBay (EBAY) initiated with a Neutral at Guggenheim. 2. General Mills (GIS) initiated with a Hold at Jefferies. 3. Vistra Energy (VST) initiated with an Outperform at Evercore ISI. 4. American Homes 4 Rent (AMH) initiated with a Buy at Citi. 5. Stanley Black & Decker (SWK) initiated with a Buy at Northcoast. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/18/17
ZELM
10/18/17
UPGRADE
ZELM
Buy
Stanley Black & Decker upgraded to Buy from Hold at Zelman
10/18/17
WELS
10/18/17
NO CHANGE
Target $175
WELS
Outperform
Stanley Black & Decker price target raised to $175 from $165 at Wells Fargo
Wells Fargo analyst Rich Kwas raised his price target for Stanley Black & Decker to $175 from $165 ahead of quarterly results. The analyst reiterates an Outperform rating on the shares.
FITB Fifth Third
$28.43

-0.17 (-0.59%)

08/09/17
WELS
08/09/17
INITIATION
Target $27
WELS
Market Perform
Fifth Third resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Fifth Third with a Market Perform rating and $27 price target.
06/05/17
06/05/17
UPGRADE
Target $24

Neutral
Fifth Third upgraded to Neutral from Underperform at Baird
As previously reported, Baird analyst David George upgraded Fifth Third to Neutral from Underperform citing valuation. Industry trends and management updates have lowered expectations for Q2 results, noted George, who maintained his $24 price target on Fifth Third shares.
06/05/17
MSCO
06/05/17
NO CHANGE
MSCO
Midcap Bank sector upgraded to In-Line at Morgan Stanley
Morgan Stanley analyst Ken Zerbe upgraded the Midcap Bank sector to In-Line from Cautious citing the group's underperformance year-to-date and better earnings from lower deposit betas. The firm's top picks are SVB Financial (SIVB), Signature Bank (SBNY), KeyBanc (KEY), and Citizens Financial (CFG). Note the analyst upgraded People's United (PBCT) and Prosperity Bancshares (PB) to Equal Weight citing valuations.
10/02/17
BARD
10/02/17
DOWNGRADE
Target $24
BARD
Underperform
Fifth Third downgraded to Underperform from Neutral at Baird
Baird analyst David George downgraded Fifth Third to Underperform from Neutral as it has outperformed most banks in Q3 and now trades at a premium to peers. He thinks it will be difficult to reach Project North Star targets without macro help and that significant execution risk remains. George maintained his $24 price target on Fifth Third.
CNC Centene
$97.99

1.49 (1.54%)

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.
10/16/17
PIPR
10/16/17
NO CHANGE
PIPR
Piper a buyer of Centene, Molina after Friday's selloff
Piper Jaffray analyst Sarah James believes Friday's selloff in shares of Centene (CNC) and Molina Healthcare (MOH) caused by President Trump's executive actions is overdone. Both companies are well positioned to handle the Affordable Care Act changes given their focus on lower income/higher subsidy exchange members, James tells investors in a research note. She sees Centene and Molina as less vulnerable to adverse selection risk and is a buyer of both names.
10/16/17
LEER
10/16/17
NO CHANGE
LEER
Facilities, Centene most structurally impacted to downside in 2019, says Leerink
Leerink analyst Ana Gupte sees the Facilities and Centene (CNC) most structurally impacted to the downside in 2019 and beyond at 15% of earnings, if there is no legislative or other budgetary compromise to restore the Cost Sharing Subsidies after President Trump's executive action to stop funding them. The analyst also notes that Healthcare Facilities also face a structural headwind in 2019 and beyond with Exchanges contributing 1%-5% of EBITDA. In the near-term in 2017, Gupte says Molina Healthcare (MOH) faces transient balance sheet pressure with the Q4 unfunding placing pressure of $135M and wiping excess parent cash possibly necessitating an equity raise, while other HIX plans Anthem (ANTM), Centene and Cigna (CI) can offset with their excess capitalization at the subsidiaries and at the parent.
10/17/17
BMOC
10/17/17
INITIATION
Target $120
BMOC
Outperform
Centene initiated with an Outperform at BMO Capital
BMO Capital analyst Matt Borsch initiated Centene with an Outperform rating and a price target of $120. Borsch cites attractive sector-relative valuation as well as multi-year growth expectations with revenue opportunity above $500B as high-acuity Medicaid populations are brought into managed care.
WAT Waters
$187.55

-0.59 (-0.31%)

07/13/17
WELS
07/13/17
NO CHANGE
WELS
Wells Fargo adjusts ratings in Life Science Tools space
Wells Fargo analyst Tim Evans changed ratings in the Life Science Tools sector to reflect in order to prioritize the pharma end market. For a Tools company, the pharma end market is "less price sensitive, less competitive, and more receptive to product cycles," Evans tells investors in a research note. To reflect this thesis, the analyst upgraded both Mettler-Toledo (MTD) and Agilent (A) to Outperform from Market Perform. He raised his price target for Mettler to $660 from $510 and for Agilent to $67 from $60. The analyst also downgraded Bruker (BRKR) to Underperform from Market Perform with an unchanged price target of $25. His favorite name in the Life Science Tools portion of his universe is Waters (WAT).
10/09/17
CLVD
10/09/17
DOWNGRADE
CLVD
Neutral
Waters downgraded to Neutral from Buy at Cleveland Research
09/26/17
GSCO
09/26/17
INITIATION
Target $180
GSCO
Neutral
Waters assumed with a Neutral at Goldman Sachs
Goldman analyst Patrick Donnelly assumed coverage on Waters with a Neutral and $180 price target citing fair valuation.
07/20/17
CLVD
07/20/17
NO CHANGE
CLVD
Buy
Cleveland Research expects upside to Waters Q2 and 2017
Cleveland Research analyst Steve Willoughby said his research indicates strong end market demand in Pharma & Industrial likely continued in Q2 and Academic customers may be showing signs of improvement. He expects Water's Q2 revenue of $571M, versus consensus of $553M, and raised his earnings estimate to $1.76, versus consensus of $1.71. Willoughby rates Waters a Buy with a $195 price taret.
IPG Interpublic Group
$20.63

-0.25 (-1.20%)

10/16/17
10/16/17
DOWNGRADE
Target $72

Underweight
Morgan Stanley says lower for longer the 'new normal' for agencies, cuts Omnicom
As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Omnicom (OMC) to Underweight from Equal Weight and lowered his price target on the shares to $72 from $86. The analyst, who disagrees with the consensus view that organic growth will return for the industry in 2018, thinks "lower for longer" is the "new normal," noting that ad agencies are part of the supply chain to major brands pressured by shifting consumer behavior and that many key advertising verticals are facing secular challenges. Swinburne also sees growing risk from major consulting firms, particularly Accenture (ACN) but also IBM (IBM), who are attempting to capture marketing budget that might have otherwise gone to agencies. He also cut his price target on peer Interpublic Group (IPG) to $22 from $24, though he keeps an Equal Weight rating on that stock to account for its strategic optionality.
09/06/17
09/06/17
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. Exxon Mobil (XOM) upgraded to Neutral from Sell at UBS with analyst Jon Rigby saying the shares have underperformed both the company's domestic and international peers in 2017. 2. Interpublic Group (IPG) was upgraded to Buy from Neutral at Citi, while Omnicom (OMC) was upgraded to Neutral from Sell. 3. Wayfair (W) upgraded to Buy from Accumulate at Gordon Haskett with analyst Chuck Grom saying data indicates Wayfair's direct revenue in the third quarter is tracking significantly ahead of plan. 4. AstraZeneca (AZN) upgraded to Buy from Neutral at Natixis. 5. IAMGold (IAG) upgraded to Outperformer from Neutral at CIBC. 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
AGIS
08/30/17
NO CHANGE
AGIS
Aegis sees signs of start of advertising recession
After speaking with Bryan Wiener, the Executive Chairman of online and traditional advertising agency 360i, Aegis analyst Victor Anthony said that his commentary, along with earnings results from ad agencies Interpublic Group (IPG) and WPP (WPPGY), leave him of the opinion that an ad recession is underway. Wiener believes Google (GOOG), Facebook (FB) and Amazon (AMZN) will be relatively insulated given they will continue to take share, and Anthony said he would continue to buy Alphabet and Facebook shares. The analyst keeps a Hold rating on Snap (SNAP) and a Sell rating on Twitter (TWTR).
09/06/17
SBSH
09/06/17
UPGRADE
Target $24
SBSH
Buy
Interpublic Group upgraded to Buy from Neutral at Citi
Citi analyst Jason Bazinet upgraded Interpublic Group (IPG) to Buy while lowering his price target for the shares to $24 from $26. The analyst sees a favorable risk/reward at current share levels. In 2018, there is nearly $2 upside for every $1 of downside, and in 2019, the upside-to-downside ratio expands to nearly 6:1, Bazinet tells investors in a research note where he also upgraded Omnicom (OMC) to Neutral.
WAB Wabtec
$76.39

-0.48 (-0.62%)

07/26/17
EDJN
07/26/17
DOWNGRADE
EDJN
Hold
Wabtec downgraded to Hold from Buy at Edward Jones
07/17/17
07/17/17
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. Cemex (CX) downgraded to Sell from Neutral at Citi with analyst Dan McGoey saying the share are ahead of themselves following the recent rally. 2. Wabtec (WAB) downgraded to Hold from Buy at Stifel with analyst Michael Baudendistel citing valuation. 3. SAIC (SAIC) downgraded to Hold from Buy at Jefferies with analyst Sheila Kahyaoglu saying the company's relatively concentrated portfolio with 25% of contracts exposed to re-competes is likely to drive "muted" revenue expansion. 4. Booz Allen (BAH) downgraded to Hold from Buy at Jefferies with analyst Sheila Kahyaoglu saying she believes the Department of Justice's civil and criminal investigation into the company's indirect cost accounting practices creates an overhang. 5. Brookfield Renewable (BEP) downgraded to Market Perform from Outperform at Raymond James with analyst Frederic Bastien citing strong share performance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
STFL
07/17/17
DOWNGRADE
STFL
Hold
Wabtec downgraded based on valuation at Stifel
As noted earlier, Stifel downgraded Wabtec to Hold from Buy. Analyst Michael J. Baudendistel downgraded the stock based on valuation. Target $92.
09/07/17
BREN
09/07/17
INITIATION
Target $81
BREN
Hold
Wabtec initiated with a Hold at Berenberg
Berenberg analyst Gunnar Cohrs initiated Wabtec with a Hold and an $81 price target.
HUBB Hubbell
$121.32

-1.75 (-1.42%)

07/11/17
WOLF
07/11/17
INITIATION
WOLF
Peer Perform
Hubbell initiated with a Peer Perform at Wolfe Research
12/19/16
MSCO
12/19/16
UPGRADE
MSCO
Overweight
Hubbell upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Nigel Coe and team upgraded Hubbell to Overweight from Equal Weight with a price target of $131.
06/19/17
JMPS
06/19/17
INITIATION
JMPS
Market Perform
Hubbell initiated with a Market Perform at JMP Securities
JMP Securities analyst Joseph Osha started coverage of Hubbell with a Market Perform rating.
09/20/17
CLVD
09/20/17
NO CHANGE
CLVD
Hubbell survey indicates improved August activity, says Cleveland Research
Cleveland Research analyst Joe Calvello said electrical distributor survey results improved to up approximately 4.5% in August from 2% in July. However, the analyst said quarter-to-date sales are trending up 3%, below Q2's trend of 4%. The analyst maintained his FY17 earnings estimate of $5.55, versus consensus of $5.51, saying longer term risk of slower large project activity and plateauing effect across electrical markets limit upside to numbers. Calvello rates Hubbell shares a Neutral
JBLU JetBlue
$19.88

-0.47 (-2.31%)

10/17/17
IMPC
10/17/17
NO CHANGE
Target $31
IMPC
Outperform
Imperial Capital calls JetBlue top mid-cap idea
Imperial Capital analyst Michael Derchin calls JetBlue his top mid-cap idea saying the company is likely to deliver margins consistent with its low-cost carrier peers. The analyst lowered his estimates to reflect the impact from Hurricanes Irma and Maria but keeps an Outperform rating on JetBlue with a $31 price target.
09/21/17
UBSW
09/21/17
NO CHANGE
UBSW
Recent correction in airline stocks overdone, says UBS
UBS analyst Darryl Genovesi noted that United Continental (UAL) and Alaska Air (ALK) are down about 20% while Delta (DAL) and American (AAL) have fallen about 10% so far in Q3 as the fare-matching narrative has re-surfaced and estimates for fuel costs have risen. However, he views the recent correction as overdone and thinks the airline group as a whole, which was cheap before, is cheaper now without the forward earnings growth outlook being any worse. Genovesi, who doesn't see evidence of a demand drop off in the travel agency data he tracks, thinks Q3 RASM weakness is predominantly "self-inflicted" by oversupply. Other publicly traded companies in the space include JetBlue (JBLU) and Southwest (LUV).
09/01/17
STPT
09/01/17
INITIATION
Target $26
STPT
Buy
JetBlue initiated with a Accumulate at Standpoint Research
Standpoint initiated JetBlue with an Accumulate and a $26 price target.
09/25/17
MACQ
09/25/17
INITIATION
Target $21
MACQ
Neutral
JetBlue initiated with a Neutral at Macquarie
Macquarie analyst Susan Donofrio initiated JetBlue with a Neutral and $21 price target saying it current network leaves it vulnerable to fare "skirmishes" between United and Spirit and demand remains soft due to recent Hurricane activity in its markets.
PII Polaris Industries
$106.92

0.46 (0.43%)

09/15/17
BMOC
09/15/17
NO CHANGE
BMOC
Polaris Industries business performing well, says BMO Capital
After attending Polaris' investor meeting, BMO Capital analyst Gerrick Johnson says that the company's comments and outlook on its business and the macro economy have improved significantly. The analyst says that retail sales of the company's 2017 and orders for its 2018 products "are tracking ahead of plan." As a result, he is confident that his "high-on- the-Street 2017 estimates will be achieved." He raised his price target on the stock to $115 from $110 and recommends buying the shares.
09/05/17
NRCS
09/05/17
NO CHANGE
NRCS
Survey shows Polaris sales accelerated but outlook uncertain, says Northcoast
Northcoast analyst Seth Woolf says Polaris Industries dealers surveyed by his firm reported that their sales in both the ATV category and the UTV category grew in August. Woolf reports that the sales of both categories haven't increased in the same month since 2015. The analyst says that it appears that the company's "SxS business accelerated meaningfully in August," but he adds that pricing headwinds intensified, while dealers' near-term demand outlook weakened. He says that dealers believe that discounts may have driven the sales acceleration, and he thinks that "the true sales trajectory" of Polaris will remain uncertain until October. The analyst keeps a Neutral rating on the stock.
08/30/17
KEYB
08/30/17
INITIATION
KEYB
Sector Weight
Polaris Industries resumed with a Sector Weight at KeyBanc
KeyBanc analyst Brett Andress resumed coverage of Polaris Industries with a Sector Weight rating.
08/17/17
AGIS
08/17/17
INITIATION
Target $107
AGIS
Buy
Polaris Industries initiated with a Buy at Aegis
Aegis analyst Rommel Dionisio initiated Polaris with a Buy and a $107 price target saying shares are well positioned to outperform over the next several quarters from improving supply chain efficiency and throughput levels in its core off-road vehicle segment, share gains in motorcycles, encouraging macroeconomic indicators, and long-term global expansion.
GPK Graphic Packaging
$14.27

-0.01 (-0.07%)

08/21/17
DADA
08/21/17
NO CHANGE
DADA
Graphic Packaging shares still undervalued, says DA Davidson
DA Davidson analyst Steven Chercover says that Graphic Packaging and its fellow CRB producers have not been able to push through a second price hike as he had anticipated. However, the analyst continues to believe that the stock is undervalued and he thinks that its "record profitability, free cash flow, and the company's ability to demonstrate that pass-through pricing models can offset inflation" could enable the stock to rise further. He cut his price target on the shares to $16.50 from $17.50 but keeps a Buy rating.
07/11/17
DADA
07/11/17
INITIATION
DADA
Buy
Graphic Packaging initiated at DA Davidson
As noted earlier, DA Davidson started coverage of Graphic Packaging with a Buy rating and a $17.50 price target. Analyst Steven Chercover says that the company's "accelerating earnings and cash flows in 2018 should propel the shares out of their recent trading range."
07/11/17
07/11/17
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. Blue Apron (APRN) initiated with a Sell rating and $2.00 price target at Northcoast. 2. Cheesecake Factory (CAKE) initiated with an Outperform at Wedbush. 3. Graphic Packaging (GPK) initiated with a Buy at DA Davidson. 4. Masimo (MASI) initiated with a Buy at Stifel. 5. Citi (C) initiated with a Hold at HSBC. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/10/17
DADA
07/10/17
INITIATION
Target $17.5
DADA
Buy
Graphic Packaging initiated with a Buy at DA Davidson
DA Davidson initiated Graphic Packaging with a Buy and a $17.50 price target.
R Ryder
$82.94

-0.71 (-0.85%)

09/13/17
KEYB
09/13/17
UPGRADE
KEYB
Overweight
Ryder upgraded to Overweight from Sector Weight at KeyBanc
09/14/17
KEYB
09/14/17
UPGRADE
Target $100
KEYB
Overweight
Ryder upgraded to Overweight with $100 price target at KeyBanc
KeyBanc analyst Todd Fowler last night upgraded Ryder System to Overweight from Sector Weight with a $100 price target. The analyst believes the company's earnings path is improving after channel checks indicated near-term rental activity is at the high end of seasonal variations. Further, stabilizing used truck markets should reduce valuation adjustments and accelerated depreciation, Fowler tells investors in a research note.
09/14/17
09/14/17
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. VMware (VMW) upgraded to Overweight from Equal Weight at Barclays with analyst Raimo Lenschow saying the stock looks undervalued as the thesis that VMware will lose market share as workloads move to the public cloud no longer seems valid, Lenschow tells investors in a research note. 2. Ryder (R) upgraded to Overweight from Sector Weight at KeyBanc with analyst Todd Fowler saying he believes the company's earnings path is improving after channel checks indicated near-term rental activity is at the high end of seasonal variations. 3. Century Communities (CCS) and Beazer Homes (BZH) were upgraded to Overweight from Neutral at JPMorgan. 4. Southern Company (SO) upgraded to Buy from Neutral at Guggenheim. 5. Air Products (APD) upgraded to Positive from Neutral at Susquehanna. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/02/17
BARD
10/02/17
NO CHANGE
Target $98
BARD
Outperform
Ryder price target raised to $98 from $84 at Baird
Baird analyst Benjamin Hartford raised his price target on Ryder to $98 form $84 given the incremental evidence of firming cyclical trends. He admits near-term upside could be tempered given recent hurricane-related disruptions, but he said the incremental evidence of stabilization/improvement in its cyclically sensitive components supports investor sentiment. Hartford reiterated his Outperform rating and said Ryder remains a top idea.
CVLT Commvault
$57.90

-0.65 (-1.11%)

07/25/17
JEFF
07/25/17
NO CHANGE
Target $75
JEFF
Buy
Commvault price target raised to $75 from $67 at Jefferies
Jefferies analyst John DiFucci said Commvault reported "strong" Q1 results, which he attributes to the company's strategy resonating well with customers. The analyst, who sees Commvault as well-positioned versus legacy and new competitors in a hybrid cloud world, raised his price target on the stock to $75 from $67 and keeps a Buy rating on the shares.
07/25/17
MUFG
07/25/17
NO CHANGE
Target $70
MUFG
Overweight
Commvault price target raised to $70 from $62 at MUFG
MUFG analyst Stephen Bersey noted that Commvault reported better than expected revenue and EPS, which he sees being driven by its significant strength within the enterprise market. Bersey, who sees the release of the company's new cloud-focused products helping it to evolve from a technology provider to a solutions provider, keeps an Overweight rating on Commvault and raised his price target on the stock to $70 from $62.
07/13/17
STFL
07/13/17
NO CHANGE
STFL
Commvault checks positive, says Stifel
Stifel analyst Aaron Rakers says that Commvault's Hyper-Converged Data Platform may significantly boost its revenue "into late 2017/2018. " The analyst thinks the platform can exploit architectural shifts in the storage of noncritical data, and he says that it could obtain deal sizes in this market that are two to three times the size of its current deals.
05/03/17
LSCM
05/03/17
UPGRADE
Target $63
LSCM
Buy
Commvault upgraded to Buy from Hold at Lake Street
Lake Street analyst Eric Martinuzzi upgraded Commvault to Buy citing its software revenue growth and raised his price target to $63 from $53 in a post-earnings research note.

TODAY'S FREE FLY STORIES

TSLA

Tesla

$315.05

2.55 (0.82%)

10:21
11/18/17
11/18
10:21
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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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GT

Goodyear Tire

$29.94

0.63 (2.15%)

10:17
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Goodyear Tire, NASCAR extend relationship »

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  • 20

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HMC

Honda

$32.62

0.02 (0.06%)

10:05
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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
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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
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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
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09:19
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More needed for Cisco to have 'groove back,' Barron's says »

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IBM

IBM

$148.97

-0.15 (-0.10%)

09:10
11/18/17
11/18
09:10
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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
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11/18
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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
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11/18
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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
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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%)

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  • 28

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TPIC

TPI Composites

$19.06

-0.97 (-4.84%)

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

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  • 05

    Dec

SYNA

Synaptics

$38.21

0.57 (1.51%)

04:55
11/18/17
11/18
04:55
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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
11/17/17
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

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  • 28

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  • 06

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WGL

WGL Holdings

$84.32

-0.14 (-0.17%)

18:01
11/17/17
11/17
18:01
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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
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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

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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
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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
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11/17
17:55
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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%)

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  • 06

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UQM

UQM Technologies

$1.18

0.015 (1.29%)

17:24
11/17/17
11/17
17:24
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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
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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
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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
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17:18
Hot Stocks
Ligand director sells 5,000 common shares »

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LGND

Ligand

$140.31

-1.4 (-0.99%)

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

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LGND

Ligand

$140.31

-1.4 (-0.99%)

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

Bandera Partners reports…

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