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DIS

Disney

$104.78

2.1 (2.05%)

, NFLX

Netflix

$192.02

-1.88 (-0.97%)

16:44
11/10/17
11/10
16:44
11/10/17
16:44

On The Fly: Top stock stories for Friday

Stocks opened in negative territory amid concerns surrounding how lawmakers can resolve the differences between the tax reform proposals put forth in the Senate and House. The lone economic data point was the consumer confidence reading, which was slightly short of expectations but went largely ignored by the market. Despite the lack of a catalyst the averages pared their losses and eventually moved to where they were little changed. However, the Dow and S&P closed the week lower, breaking their string of weekly advances after eight in a row. ECONOMIC EVENTS: In the U.S., the University of Michigan consumer sentiment survey fell 2.9 points to 97.8 in the preliminary November print. In energy news, Baker Hughes reported that the U.S. rig count is up 9 rigs from last week to 907. COMPANY NEWS: Shares of Disney (DIS) rose over 2% despite the fact the company's earnings missed expectation due to investments, lower ratings at ABC and ESPN and Hurricane Irma's impact on its parks. However, Disney also provided more color on its planned direct-to-consumer challenger to Netflix (NFLX) and announced plans for a new "Star Wars" trilogy along with its quarterly report... Meanwhile, Nvidia (NVDA) shares jumped 5.3% after the demand for its Gaming products and Data Center growth reacceleration drove stronger than expected quarterly results... Shares of J.C. Penney (JCP) surged 14.65% after the department store operator posted better quarterly results than it forecast two weeks ago when it cut its profit forecast for 2017... Meanwhile, Reuters reported that General Electric (GE) is expected to lay off sales staff and employees in its software unit ahead of new CEO John Flannery's anticipated announcement on Monday of a plan to overhaul the company and cut costs. Two sources told Reuters that GE Digital plans to lay off roughly 100 people in the Americas, including those who sell the company's Predix industrial internet software... In addition, Reuters reported that 21st Century Fox (FOXA) executive chairman Rupert Murdoch called AT&T (T) CEO Randall Stephenson twice over the past six months to talk about Time Warner's (TWX) CNN. One source told Reuters that Murdoch offered to buy CNN in both calls, while another source said that Murdoch had "zero interest" in buying the news network. MAJOR MOVERS: Among notable companies up after earnings were News Corp (NWSA), which climbed 5.15%, and ICU Medical (ICUI), which advanced 10.2%. Some noteworthy losers after reporting earnings were Hertz (HTZ), which tumbled 2.25%, and Redfin (RDFN), which fell 9.8%. INDEXES: The Dow slipped 39.73, or 0.17%, to 23,422.21, the Nasdaq added 89c, or 0.01%, to 6,750.94, and the S&P 500 declined 2.32, or 0.09%, to 2,582.30.

DIS

Disney

$104.78

2.1 (2.05%)

NFLX

Netflix

$192.02

-1.88 (-0.97%)

NVDA

Nvidia

$216.14

10.82 (5.27%)

JCP

J.C. Penney

$3.17

0.42 (15.27%)

GE

General Electric

$20.49

0.5 (2.50%)

T

AT&T

$34.22

0.22 (0.65%)

TWX

Time Warner

$90.60

3.55 (4.08%)

FOX

21st Century Fox

$28.07

-0.06 (-0.21%)

FOXA

21st Century Fox

$28.84

0.14 (0.49%)

NWSA

News Corp.

$15.10

0.74 (5.15%)

NWS

News Corp

$15.55

0.8 (5.42%)

ICUI

ICU Medical

$205.05

18.95 (10.18%)

HTZ

Hertz

$19.56

-0.45 (-2.25%)

RDFN

Redfin

$20.93

-2.27 (-9.78%)

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DIS Disney
$104.78

2.1 (2.05%)

11/10/17
PIPR
11/10/17
NO CHANGE
Target $120
PIPR
Overweight
Disney price target lowered to $120 from $130 at Piper Jaffray
Piper Jaffray analyst Stan Meyers lowered his price target for Disney shares to $120 saying investments into BamTech, Hulu, lower ratings at ABC/ESPN and Hurricane Irma drove the miss in Q4. The analyst, however, remains "upbeat" on the shares citing a "strong" film slate, growth from recent and upcoming carriage renewals, and continued momentum at the Parks. Meyers keeps an Overweight rating on Disney.
11/10/17
LOOP
11/10/17
NO CHANGE
Target $104
LOOP
Hold
Disney revenue miss due to shortfall at Media Networks, says Loop Capital
Loop Capital analyst David Miller says Disney's revenue miss was largely the result of a notable shortfall at Media Networks, where sales of $5.46B were down 3.4% on the year largely because of lower advertising sales at ABC. Media's EBIT result was constrained by higher NBA rights costs, says the analyst, adding that Disney CFO has also warned that ESPN ad sales are pacing down in Q1. Miller notes that Disney's Theme Parks division is performing well, with Q4 revenues rising 6.4% thanks to higher occupancy levels at both Orlando and Anaheim along with the effects of surge pricing. The analyst keeps his Hold rating and nudges the price target to $104 from $103 following Q4 results.
11/10/17
BERN
11/10/17
NO CHANGE
Target $101
BERN
Market Perform
Disney deal for Fox wouldn't solve underlying problems, says Bernstein
Bernstein analyst Todd Juenger noted that Disney (DIS) has gone from a situation where reported EPS was going up but its stock price was going down to one where EPS is going down but the stock has been going up a bit driven by M&A speculation. However, he contends that the current round of renewed M&A speculation is happening because underlying fundamentals are "so bad" and even if a deal for Disney to buy Fox (FOXA) assets happens it wouldn't solve the underlying problems. He also thinks the chances of a Disney-Fox deal as currently described are "very low." Juenger maintains a Market Perform rating and $101 price target on Disney shares.
11/10/17
EVER
11/10/17
NO CHANGE
Target $120
EVER
Outperform
Evercore ISI incrementally optimistic on Disney's FY18 outlook
Evercore ISI analyst Vijay Jayant came away from Disney's lackluster Q4 report incrementally optimistic on the company's FY18 outlook. He said the massive film slate for the coming year should translate into double-digit full year revenue and OIBDA gains, while underlying trends at the media networks division are improving. Jayant believes management is making the right strategic decisions and the fresh guidance could be a modest postive for sentiment. Jayant rares Disney and Outperform with a $120 price target.
NFLX Netflix
$192.02

-1.88 (-0.97%)

10/26/17
LOOP
10/26/17
NO CHANGE
Target $237
LOOP
Buy
Netflix price target lowered to $237 from $242 at Loop Capital
Loop Capital analyst David Miller trimmed his price target for Netflix shares to $237 to reflect this week's announced $1.6B bond offering. The analyst notes the second season of "Stranger Things," one of the more popular original series on Netflix, will be available for streaming beginning tomorrow. He keeps a Buy rating on the shares.
10/23/17
NEED
10/23/17
INITIATION
Target $28
NEED
Buy
Roku initiated with a Buy at Needham
Needham analyst Laura Martin initiated Roku (ROKU) with a Buy rating and a price target of $28. Martin says that comparable to Netflix (NFLX), Roku is a pure play on the growth of over-the-top video, but has no risks related to content. Martin adds that Roku is also a more attractive acquisition target, while its 3-times FY18 revenue valuation is well below 7-times one at Netflix despite the comparable FY18 revenue growth expectations.
10/17/17
BOFA
10/17/17
NO CHANGE
Target $225
BOFA
Buy
Netflix price target raised to $225 from $199 at BofA/Merrill
10/17/17
MSCO
10/17/17
NO CHANGE
Target $235
MSCO
Overweight
Netflix price target raised to $235 after earnings at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne raised his price target on Netflix to $235 from $225 following the company's Q3 earnings report, saying that its guidance for Q4 subscriber additions suggests the company sees its broader secular momentum, its strong content slate and seasonal viewing offsetting any churn impact from price increases. He keeps an Overweight rating on Netflix shares, which are little changed in pre-market trading following last night's quarterly letter to investors and associated call.
NVDA Nvidia
$216.14

10.82 (5.27%)

11/10/17
RILY
11/10/17
NO CHANGE
Target $270
RILY
Buy
Nvidia price target raised to $270 from $250 at B. Riley FBR
B. Riley FBR analyst Craig Ellis raised his price target for Nvidia to $270 from $250 saying the company's Q3 results last night and Q4 outlook "surprised significantly higher." The analyst thinks "forceful growth" spans all the company's segments longer term as chip, software, and systems competitive advantages are exploited. He sees continued upside to consensus estimates and keeps a Buy rating on shares. The chipmaker in premarket trading is up 4%, or $8.18, to $213.50.
11/10/17
MKMP
11/10/17
NO CHANGE
Target $186
MKMP
Neutral
Nvidia price target raised to $186 from $120 at MKM Partners
MKM Partners analyst Ruben Roy raised his price target on Nvidia to $186 and kept his Neutral rating following Q3 results. Roy says the earnings beat was supported by seasonal strength from the Gaming segment and strong recovery from the Datacenter segment driven by an accelerating Volta ramp, while the Q4 outlook will likely produce gross margin expansion. Despite the "material uptick" in price target forecasts, the analyst notes that shares continue to trade at a significant premium to the semiconductor peer group, and while the company's positioning in growth markets warrant a premium, the current valuation reflects Nvidia's execution and medium-term growth prospects.
11/10/17
MSCO
11/10/17
NO CHANGE
Target $222
MSCO
Equal Weight
Morgan Stanley ups Nvidia target to $222, keeps Equal Weight based on valuation
Morgan Stanley analyst Joseph Moore noted that Nvidia reported results that topped even his recently raised expectations, driven by significant upside in its core gaming segment. He raised his EPS estimates and increased his price target on Nvidia shares to $222 from $210, but maintains an Equal Weight rating citing the stock's valuation.
11/10/17
RHCO
11/10/17
NO CHANGE
Target $253
RHCO
Buy
Nvidia price target raised to $253 from $200 at SunTrust
SunTrust analyst William Stein raised his price target on Nvidia to $253 and kept his Buy rating following Q3 results that showed both Gaming and Datacenter revenues delivering well-above consensus numbers. Stein says that while the Auto segment top-line missed consensus by about 9%, the optimism about this end-market is geared toward 2020. The analyst also notes that his attendance at the company's GTC conference last week gives him even more confidence in Nvidia's leading position in AI based on its "stickier" business aspects such as "culture of innovation, software tools, and ecosystem of incumbency."
JCP J.C. Penney
$3.17

0.42 (15.27%)

10/30/17
NRCS
10/30/17
DOWNGRADE
NRCS
Neutral
J.C. Penney downgraded to Neutral from Buy at Northcoast
10/30/17
10/30/17
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 Motors (GM) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying his price target of $32 offers 28% potential downside. The analyst continues to believe the North America auto cycle has peaked and he remains cautious on the sector. 2. Merck (MRK) downgraded to Hold from Buy at SunTrust and to Equal Weight from Overweight at Morgan Stanley, as well as Barclays. 3. J.C. Penney (JCP) downgraded to Sell from Neutral at Citi, to Neutral from Buy at Northcoast, and to Neutral from Positive at Susquehanna. 4. Macy's (M) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez saying the retailer's sales and margins have been pressured for several years, and J.C. Penney's weak third quarter preannouncement on Friday serves as reminder of just how challenging the department store space is. 5. Under Armour (UAA, UA) downgraded to Underperform from Neutral at BofA/Merrill with analyst Robert Ohmes saying he expects management to lower fourth quarter guidance on its Q3 conference call due to the highly promotional environment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/17
SBSH
10/30/17
DOWNGRADE
Target $16
SBSH
Sell
Macy's downgraded to Sell from Neutral at Citi
Citi analyst Paul Lejuez downgraded Macy's (M) to Sell and cut his price target for the shares to $16 from $21. The retailer's sales and margins have been pressured for several years, and J.C. Penney's (JCP) weak Q3 preannouncement on Friday serves as reminder of just how challenging the department store space is, Lejuez tells investors in a research note. He believes risks are mounting at Macy's ahead of what is likely to be another promotional holiday season. Macy's has not found the right tools to offset negative store traffic and margin pressures, the analyst contends. Lejuez this morning also downgraded Penny to Sell.
10/30/17
SUSQ
10/30/17
DOWNGRADE
Target $3
SUSQ
Neutral
J.C. Penney downgraded to Neutral at Susquehanna
As reported previously, Susquehanna analyst Bill Dreher downgraded J.C. Penney to Neutral from Positive following its Q3 results. The analyst cited its continued gross margin pressures and the fact that sales driving initiatives are taking longer than expected to materialize. Dreher lowered his price target to $3 from $6.50 on J.C. Penney shares.
GE General Electric
$20.49

0.5 (2.50%)

11/01/17
JPMS
11/01/17
NO CHANGE
Target $17
JPMS
Underweight
JPMorgan cuts GE target to $17 ahead of investor meeting
JPMorgan analyst C. Stephen Tusa cut his December 2018 price target for shares of General Electric to $17 from $19 ahead of the company's investor meeting on November 13. The stock closed yesterday down 25c to $20.16. To reflect lower Power profit assumptions and higher accounting change headwinds, the analyst reduced his 2018 earnings per share estimate to $1.05 from $1.15 and 2019 estimate to $1.15 from $1.25. Tusa keeps an Underweight rating on shares of GE.
10/24/17
10/24/17
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 Hold from Buy at Stifel and to Underperform from Perform at Oppenheimer. 2. Whirlpool (WHR) was downgraded to Sector Perform from Top Pick at RBC Capital and to Neutral from Buy at BofA/Merrill. 3. Roche (RHHBY) downgraded to Hold from Buy at Berenberg with analyst Alistair Campbell saying he sees the company's earnings growth slowing to the slow single digits over the next five years as biosimilar competition ramps. 4. United Continental (UAL) downgraded to Neutral from Overweight at Atlantic Equities with the firm's analyst saying earnings initiatives do not appear to be performing to plan and he is "very skeptical" of United's ability to close the margin gap with Delta (DAL). 5. Hanesbrands (HBI) downgraded to Perform from Outperform at Oppenheimer with analyst Anna Andreeva saying while she remains a fan of "Brands over Retailers" framework, and Hanesbrands has profitability cushions, negative organics domestically take away earnings upside bull case. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/17
DBAB
10/30/17
NO CHANGE
Target $18
DBAB
Sell
Deutsche Bank cuts General Electric price target to $18
Deutsche Bank analyst John Inch cut his price target for General Electric shares to $18 from $21 and reiterates a Sell rating on the name. Following the "substantial" Q3 miss and 2017 guidance cut, Inch lowered his Q4 earnings per share estimate to 42c from 62c and 2018 estimate to $1.05 from $1.55. The analyst notes his 2018 estimates do not subtract 17c of forecast 2018 pension accounting. It will take years to work through GE's "operational and cultural challenges and establish a firm foundation from which the company can grow on a sustained basis," Inch tells investors in a research note. The stock in early trading is down 33c to $20.46.
11/09/17
STFL
11/09/17
NO CHANGE
STFL
Hold
Stifel makes short-term trading call to underweight GE ahead of investor day
Stifel analyst Robert McCarthy issued a short-term trading call to be underweight GE shares ahead of the company's investor day meeting on November 13, as he believe a dividend cut of over 50%, to 45c from 96c per share, is likely. If such a cut happens, he thinks the stock could see pressure down to around $18 per share, where its dividend yield would be 2.5%, compared to its current yield near 4.8%. While making a short-term underweight call, the firm maintains a Hold rating on GE shares.
T AT&T
$34.22

0.22 (0.65%)

11/10/17
DBAB
11/10/17
NO CHANGE
Target $99
DBAB
Buy
Deutsche Bank puts 50/50 odds on AT&T closing Time Warner deal
Recent news flow lowers the probability of AT&T (T) closing its acquisition of Time Warner (TWX), Deutsche Bank analyst Bryan Kraft tells investors in a research note. Divesting either DirecTV or Turner are both unattractive options for AT&T, the analyst contends. He puts the probability of the deal closing at 50% right now. If the deal does not close, Time Warner would attract interest from potential suitors within the media industry or outside of it, Kraft writes. He notes, however, that regulatory opposition "could potentially jeopardize certain other potential suitors' interest or ability to close." Nonetheless, the analyst believes Time Warner's stock price "would see meaningful upside in this scenario." As a standalone company, Kraft sees the stock hitting $83 in the near-term but appreciating to $95 over the next 12 months. The analyst keeps a Buy rating on Time Warner while reducing his price target to $99 from $103. The shares yesterday closed down $1.45 to $87.05.
11/02/17
COWN
11/02/17
NO CHANGE
COWN
Cowen sees DOJ leak as negotiating tactic, expects Time Warner deal approval
Cowen analyst Doug Creutz believes the leak to The Wall Street Journal regarding the DOJ talks with AT&T (T) and Time Warner (TWX) is likely a negotiating tactic and he expects the deal is still likely to be approved. If a deal did not happen, he sees little downside to AT&T, while he thinks Time Warner could have downside to $80-$82 per share. Time Warner shares are down 4% to $94.41 in afternoon trading.
11/06/17
KEYB
11/06/17
NO CHANGE
KEYB
Carrier surveys indicate strong demand, tight supply for iPhone X, says KeyBanc
KeyBanc analyst John Vinh says surveys at U.S. carriers on the iPhone X launch day and throughout the weekend indicate healthy initial response to Apple's (AAPL) new flagship model. Further, his surveys indicate most of the stores were sold out within a few hours after opening despite limited promotional activity. Supply was scarce as most T-Mobile (TMUS) and Sprint (S) stores indicated that they had not received any iPhone X shipments, and several AT&T (T) and Verizon (VZ) stores estimated they will need to wait until December before receiving additional shipments, he contends. Vihn's favorite Apple-related suppliers are Broadcom (AVGO), Cirrus Logic (CRUS), Cypress Semiconductor (CY), and Skyworks (SWKS).
11/08/17
STPT
11/08/17
INITIATION
Target $40
STPT
Buy
AT&T initiated with a Buy at Standpoint Research
Standpoint initiated AT&T with a Buy and $40 price target.
TWX Time Warner
$90.60

3.55 (4.08%)

10/06/17
STFL
10/06/17
NO CHANGE
Target $200
STFL
Buy
Netflix 'still the best value' for consumers despite price hike, says Stifel
After Netflix (NFLX) disclosed it is raising subscription prices for the Standard and Premium tiers in the U.S., Stifel analyst Scott Devitt said he expects "similar round number increases" in a number of other markets, noting that the company has also confirmed increases for its top two U.K. plans. The analyst, who noted that Hulu's ad-free option and HBO Now (TWX) remain as expensive or more expensive than Netflix, said its streaming service is "still the best value on the consumer Internet." Devitt keeps a Buy rating and $200 price target on Netflix shares.
10/16/17
10/16/17
DOWNGRADE
Target $105

Neutral
Time Warner downgraded to Neutral from Buy at FBR Capital
FBR Capital analyst Barton Crockett downgraded Time Warner (TWX) to Neutral saying the takeover by AT&T (T) is "nearly done." The analyst lowered his price target for the shares to $105 from $107.50.
FOX 21st Century Fox
$28.07

-0.06 (-0.21%)

10/30/17
OTRG
10/30/17
UPGRADE
OTRG
Positive
21st Century Fox upgraded to Positive from Mixed at OTR Global
08/08/17
BNCH
08/08/17
NO CHANGE
BNCH
Buy
Fox-ION 'rumors' most likely a negotiating tactic, says Benchmark
Benchmark analyst Daniel Kurnos highlighted a "slew" of "inconsistencies" that make him skeptical of last week's "unsubstantiated rumor published by Bloomberg" regarding Fox (FOXA) potentially forming a JV with ION and pulling all of its affiliate agreements from Sinclair (SBGI), concluding in a note to investors that this was "just another negotiating tactic by the network." Fox's "cozy" agreements with Tribune (TRCO) may get disrupted by Sinclair's acquisition, added Kurnos, who has a Buy rating on Sinclair shares.
FOXA 21st Century Fox
$28.84

0.14 (0.49%)

11/07/17
WELS
11/07/17
NO CHANGE
WELS
21st Century Fox worth $41 per share as sum of parts, says Wells Fargo
Wells Fargo analyst Marci Ryvicker believes 21st Century Fox is worth $41 per share as a sum of its parts, or $47 per share including all of Sky. As such, the analyst sees substantial upside potential for 21st Century Fox based on this analysis. Ryvicker maintained an Outperform rating and $34 price target on 21st Century Fox based on the company's fundamentals, rather than M&A speculation.
10/12/17
FBCO
10/12/17
NO CHANGE
Target $35
FBCO
Outperform
21st Century Fox price target lowered to $35 from $37 at Credit Suisse
Credit Suisse analyst Omar Sheikh lowered his price target for 21st Century Fox (FOXA) to $35 from $37 ahead of Q1 earnings. The analyst notes that the key near-term headwinds are soft NFL ratings and the risk that the Sky (SKYAY) transaction is blocked by U.K. regulators. The analyst reiterates an Outperform rating on 21st Century Fox shares.
NWSA News Corp.
$15.10

0.74 (5.15%)

07/14/17
07/14/17
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. Safety, Income and Growth (safe) initiated with a Buy at Ladenburg. 2. News Corp. (NWSA) initiated with a Buy at Rosenblatt. 3. Woodward (WWD) initiated with an Outperform at Oppenheimer. 4. CBL & Associates (CBL) coverage resumed with a Hold at Stifel. 5. Supernus (SUPN) initiated with a Neutral at Janney Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/14/17
RSBL
07/14/17
INITIATION
Target $17
RSBL
Buy
News Corp. initiated with a Buy at Rosenblatt
Rosenblatt analyst Alan Gould initiated News Corp with a Buy and a $17 price target saying he has increased confidence the company will report annual EBITDA growth. Digital Real Estate EBITDA is now growing quicker than News and Information Services is declining, the analyst wrote. Gould now sees EBITDA and operating income growth of 4% and 10% compounded rates, while revenues remain flat due to the mix shift towards digital real estate, which has higher margins.
NWS News Corp
$15.55

0.8 (5.42%)

07/26/17
SBSH
07/26/17
UPGRADE
SBSH
Buy
News Corp upgraded to Buy from Neutral at Citi
ICUI ICU Medical
$205.05

18.95 (10.18%)

05/11/17
ROTH
05/11/17
DOWNGRADE
ROTH
Neutral
ICU Medical downgraded to Neutral from Buy at Roth Capital
10/17/17
KEYB
10/17/17
INITIATION
KEYB
Sector Weight
ICU Medical initiated with a Sector Weight at KeyBanc
KeyBanc analyst Matthew Mishan started ICU Medical with a Sector Weight rating saying the Hospira Infusion Systems acquisition needs time to play out.
05/11/17
05/11/17
DOWNGRADE
Target $172

Neutral
ICU Medical downgraded on valuation, integration risk at Roth Capital
As previously reported, Roth Capital analyst Chris Lewis downgraded ICU Medical to Neutral from Buy, citing the potential for speedbumps as its Hospira Infusion Systems integration continues and the stock's current "heightened" valuation. Lewis raised his price target on ICU Medical, however, to $172 from $165.
06/20/17
SIDC
06/20/17
DOWNGRADE
SIDC
Neutral
ICU Medical downgraded to Neutral from Buy at Sidoti
HTZ Hertz
$19.56

-0.45 (-2.25%)

10/06/17
DBAB
10/06/17
NO CHANGE
Target $49
DBAB
Buy
Deutsche Bank raises price targets in Rental Car space
Deutsche Bank analyst Chris Woronka raised his price target for Buy-rated Avis Budget Group (CAR) to $49 from $44 and for Hold-rated Hertz Global Holdings (HTZ) to $18 from $14. Both companies' third quarters were tracking favorably on both demand and pricing in the U.S. even before the hurricanes, Woronka tells investors in a research note. He believes the storms are likely to have a larger impact on demand in Q4 but a larger positive impact on residual values in Q3. The analyst raised his estimates "above consensus across the board" for both companies.
10/02/17
SUSQ
10/02/17
NO CHANGE
SUSQ
NADA data show slight improvement in September used car prices, says Susquehanna
Susquehanna said that data from NADA showed that seasonally adjusted used car prices declined 4.1% year-over-year and increased 1.2% month-over-month in September. While the firm expects recent hurricanes to be a near-term benefit to used car prices, it thinks any near-term improvement will be short-lived. Hertz (HTZ) and Avis Budget (CAR) are near-session highs in afternoon trading.
10/12/17
MKMP
10/12/17
NO CHANGE
Target $49
MKMP
Buy
Car rental group earnings to inflect on improved fundamentals, says MKM Partners
MKM Partners analyst Christopher Agnew raised his price target on Avis Budget Group (CAR) to $49 from $39 and Hertz Global (HTZ) to $36 from $22, maintaining a Buy rating on both stocks. Agnew says the earnings momentum for the group is at an upward inflection point thanks to sustained improvement in core fundamentals, as net pricing is turning positive. Agnew also notes other catalysts for these stocks, including overly high 40-50% short interest and cost reductions driven by "connected-cars" technology improvements.
11/10/17
MSCO
11/10/17
NO CHANGE
Target $14
MSCO
Underweight
Hertz post-earnings 'squeeze' should be faded, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said Hertz has been "opportunistic" in extending debt maturities, which he sees allowing it to delay its credit problem. However, he does not expect the fundamentals of the car rental business to improve and he thinks after a pause it will see further and potential steeper declines. Jonas, who thinks Hertz may still need to take "far more radical and preemptive action," keeps an Underweight rating on the shares and recommends investors "fade the squeeze" in the stock following the company's earnings report.
RDFN Redfin
$20.93

-2.27 (-9.78%)

10/19/17
WBLR
10/19/17
INITIATION
WBLR
Outperform
Redfin initiated with an Outperform at William Blair
William Blair analyst Brandon Dobell started Redfin with an Outperform rating saying the company offers a "compelling" value proposition for consumers. The analyst expects residential housing activity to remain "healthy."
09/28/17
PIPR
09/28/17
INITIATION
Target $26
PIPR
Neutral
Redfin initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Jason Deleeuw started Redfin with a Neutral rating and $26 price target. The analyst sees headwinds to the company's relative valuation amid its ongoing investments in lead generation and agent employees.
08/22/17
BOFA
08/22/17
INITIATION
Target $28
BOFA
Neutral
Redfin initiated with a Neutral at BofA/Merrill
BofA/Merrill initiated Redfin with a Neutral and a $28 price target.
08/22/17
08/22/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on the today's top five analyst initiations with this list compiled by The Fly: 1. Redfin (RDFN) initiated with a Sector Perform at RBC Capital, Hold rating at Stifel, an Outperform at Oppenheimer and Neutral at Goldman Sachs. 2. Energen (EGN) initiated with an Outperform at Imperial Capital. 3. Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital. 4. Revance (RVNC) initiated with an Outperform at JMP Securities. 5. Pacira (PCRX) initiated with a Buy at Needham. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

DE

Deere

$139.23

2.31 (1.69%)

20:25
11/21/17
11/21
20:25
11/21/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 22

    Nov

  • 28

    Nov

PCRX

Pacira

$42.65

0.45 (1.07%)

19:24
11/21/17
11/21
19:24
11/21/17
19:24
Recommendations
Pacira analyst commentary at BMO Capital »

October Symphony data…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 28

    Nov

  • 14

    Dec

  • 06

    Apr

CEIX

CONSOL Energy

, ICON

Iconix Brand

$2.55

0.28 (12.33%)

19:00
11/21/17
11/21
19:00
11/21/17
19:00
Hot Stocks
S&P announces changes to S&P SmallCap 600 index »

S&P Dow Jones Indices…

CEIX

CONSOL Energy

ICON

Iconix Brand

$2.55

0.28 (12.33%)

CNX

Consol

$16.27

0.23 (1.43%)

PDFS

PDF Solutions

$15.86

0.11 (0.70%)

BBOX

Black Box

$4.15

0.55 (15.28%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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TIVO

TiVo

$17.65

0.15 (0.86%)

, CMCSA

Comcast

$36.42

0.59 (1.65%)

18:52
11/21/17
11/21
18:52
11/21/17
18:52
Recommendations
TiVo, Comcast analyst commentary at JPMorgan »

ITC ruling a…

TIVO

TiVo

$17.65

0.15 (0.86%)

CMCSA

Comcast

$36.42

0.59 (1.65%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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GKOS

Glaukos

$25.35

-2.86 (-10.14%)

18:48
11/21/17
11/21
18:48
11/21/17
18:48
Recommendations
Glaukos analyst commentary at Piper Jaffray »

Glaukos selloff due to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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DIS

Disney

$103.00

0.25 (0.24%)

, CMCSA

Comcast

$36.42

0.59 (1.65%)

18:31
11/21/17
11/21
18:31
11/21/17
18:31
Periodicals
Hulu sued for failure to offer audio service for blind subscribers, NY Post says »

Advocacy groups are suing…

DIS

Disney

$103.00

0.25 (0.24%)

CMCSA

Comcast

$36.42

0.59 (1.65%)

CMCSK

Comcast

TWX

Time Warner

$89.56

1.85 (2.11%)

FOX

21st Century Fox

$30.10

0.2 (0.67%)

FOXA

21st Century Fox

$30.88

0.22 (0.72%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MGA

Magna

$54.29

0.37 (0.69%)

18:23
11/21/17
11/21
18:23
11/21/17
18:23
Hot Stocks
Magna announces two share repurchase programs »

Magna International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 09

    Jan

  • 16

    Jan

PTLA

Portola Pharmaceuticals

$50.80

1.29 (2.61%)

18:23
11/21/17
11/21
18:23
11/21/17
18:23
Hot Stocks
Portola: FDA extends review period for PAS for Bevyxxa »

Portola Pharmaceuticals…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 02

    Feb

PBMD

Prima BioMed

$1.65

-0.03 (-1.79%)

18:09
11/21/17
11/21
18:09
11/21/17
18:09
Hot Stocks
Prima BioMed secures European patent grant for lead product IMP321 in cancer »

Prima BioMed announces…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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CPRT

Copart

$36.70

0.39 (1.07%)

18:06
11/21/17
11/21
18:06
11/21/17
18:06
Earnings
Copart reports Q1 non-GAAP EPS 33c, consensus 27c »

Reports Q1 revenue 419.2M…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 22

    Nov

  • 19

    Dec

PCTY

Paylocity

$47.79

-0.64 (-1.32%)

18:01
11/21/17
11/21
18:01
11/21/17
18:01
Hot Stocks
Paylocity chairman sells 736,845 common shares »

In a regulatory filing,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Nov

MDC

M.D.C. Holdings

$35.10

0.91 (2.66%)

18:01
11/21/17
11/21
18:01
11/21/17
18:01
Hot Stocks
M.D.C. Holdings declares special 8% stock dividend »

M.D.C. Holdings announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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PDFS

PDF Solutions

$15.86

0.11 (0.70%)

, BBOX

Black Box

$4.15

0.55 (15.28%)

17:59
11/21/17
11/21
17:59
11/21/17
17:59
Hot Stocks
Breaking Hot Stocks news story on PDF Solutions, Black Box »

PDF Solutions to replace…

PDFS

PDF Solutions

$15.86

0.11 (0.70%)

BBOX

Black Box

$4.15

0.55 (15.28%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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HPQ

HP Inc.

$22.46

0.34 (1.54%)

17:58
11/21/17
11/21
17:58
11/21/17
17:58
Hot Stocks
Breaking Hot Stocks news story on HP Inc. »

HP Inc. sees pressure on…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Nov

CEIX

CONSOL Energy

, ICON

Iconix Brand

$2.55

0.28 (12.33%)

17:57
11/21/17
11/21
17:57
11/21/17
17:57
Hot Stocks
Breaking Hot Stocks news story on CONSOL Energy, Iconix Brand »

CONSOL Energy to replace…

CEIX

CONSOL Energy

ICON

Iconix Brand

$2.55

0.28 (12.33%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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HPQ

HP Inc.

$22.46

0.34 (1.54%)

17:53
11/21/17
11/21
17:53
11/21/17
17:53
Hot Stocks
Breaking Hot Stocks news story on HP Inc. »

HP Inc. says returned…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Nov

TMQ

Trilogy Metals

$0.92

-0.0211 (-2.25%)

17:53
11/21/17
11/21
17:53
11/21/17
17:53
Syndicate
Breaking Syndicate news story on Trilogy Metals »

Trilogy Metals files to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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TRNO

Terreno Realty

$37.74

0.74 (2.00%)

17:50
11/21/17
11/21
17:50
11/21/17
17:50
Initiation
Terreno Realty initiated at National Securities »

Terreno Realty initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 14

    Dec

HPQ

HP Inc.

$22.47

0.355 (1.61%)

17:47
11/21/17
11/21
17:47
11/21/17
17:47
Hot Stocks
HP Inc.: 'Stay tuned' for news on metal 3D printing »

Says plans to introduce…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Nov

THC

Tenet

$13.34

0.17 (1.29%)

17:47
11/21/17
11/21
17:47
11/21/17
17:47
Initiation
Tenet initiated at William Blair »

Tenet initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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LPNT

LifePoint

$43.85

0.65 (1.50%)

17:47
11/21/17
11/21
17:47
11/21/17
17:47
Initiation
LifePoint initiated at William Blair »

LifePoint initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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LHCG

LHC Group

$67.98

1.46 (2.19%)

17:46
11/21/17
11/21
17:46
11/21/17
17:46
Initiation
LHC Group initiated at William Blair »

LHC Group initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 12

    Dec

  • 13

    Dec

HLS

HealthSouth

$48.46

0.85 (1.79%)

17:46
11/21/17
11/21
17:46
11/21/17
17:46
Initiation
HealthSouth initiated at William Blair »

HealthSouth initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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HCA

HCA Healthcare

$75.89

1.28 (1.72%)

17:46
11/21/17
11/21
17:46
11/21/17
17:46
Initiation
HCA Healthcare initiated at William Blair »

HCA Healthcare initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 06

    Dec

AMED

Amedisys

$54.97

2.29 (4.35%)

17:45
11/21/17
11/21
17:45
11/21/17
17:45
Initiation
Amedisys initiated at William Blair »

Amedisys initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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