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OSTK

Overstock.com

$47.10

-4.9 (-9.42%)

, QVCA

QVC Group

$24.40

-0.07 (-0.29%)

06:40
12/01/17
12/01
06:40
12/01/17
06:40

Overstock.com offers a lot of value, says DA Davidson

DA Davidson analyst Tom Forte keeps his Buy rating and $85 price target on Overstock.com despite the 26% decline in stock price since Friday. Forte says his price target includes $58 valuation for the home e-commerce business based on the price that QVC (QVCA) paid for Zulily in 2015, and $27 for the Medici Ventures subsidiary. The analyst says that much like the "strategic" QVC acquisition, the purchase of Overstock.com e-commerce business could provide a lot of value to larger firms like T.J. Maxx (TJX) or Costco (COST).

OSTK

Overstock.com

$47.10

-4.9 (-9.42%)

QVCA

QVC Group

$24.40

-0.07 (-0.29%)

COST

Costco

$184.43

6.9 (3.89%)

TJX

TJX

$75.55

0.77 (1.03%)

  • 14

    Dec

OSTK Overstock.com
$47.10

-4.9 (-9.42%)

11/09/17
DADA
11/09/17
NO CHANGE
Target $85
DADA
Overstock.com price target raised to $87 on a potential sale at DA Davidson
DA Davidson analyst Tom Forte raised Buy rated Overstock's price target to $87 from $57 following management comments indicating it was considering strategic alternatives for its home e-commerce business. The analyst believes there is potential to unlock value in its two most significant assets, home e-commerce and Medici Ventures. Forte said his new price target reflects a $58 valuation for the home e-commerce business and $27 for Medici Ventures.
11/09/17
DADA
11/09/17
NO CHANGE
Target $85
DADA
Buy
Overstock.com price target raised to $87 from $57 at DA Davidson
10/25/17
DADA
10/25/17
NO CHANGE
Target $57
DADA
Buy
Overstock.com price target raised to $57 from $36 at DA Davidson
DA Davidson analyst Tom Forte raised his price target on Overstock.com to $57 following its announcement to move forward with plans for an initial coin offering. Forte says recent press speculation has suggested that the company could raise $200M-$500M in such an offering, which it will then invest in scaling its technology development and regulatory efforts. Overstock shares are up over 6% in pre-market trading on the announcement.
10/06/17
WEDB
10/06/17
NO CHANGE
Target $82
WEDB
Outperform
Academic Wayfair valuation report 'interesting, but inconclusive,' says Wedbush
Wedbush analyst Seth Basham hosted a call with Wharton and Emory business school professors who recently published an academic paper discussing methods of valuing public companies with non-subscription customer bases, notably including Wayfair (W) and Overstock.com (OSTK). He admires the work and finds it "interesting," but the lack of precision for high-growth firms make it "inconclusive" and difficult to rely upon in the case of Wayfair, Basham tells investors. The analyst, who agrees with the professors on the sensitivity of Wayfair's valuation to revenue growth, keeps an Outperform rating on the shares. The Fly notes that Citron Research, which has disclosed publicly in the past a short position in Wayfair, recently highlighted on Twitter the same academic paper on the company's valuation.
QVCA QVC Group
$24.40

-0.07 (-0.29%)

09/13/17
DADA
09/13/17
INITIATION
DADA
Buy
QVC Group initiated with a Buy at DA Davidson
DA Davidson analyst Tom Forte initiated QVC Group with a Buy rating and $33 price target, citing "moderate" revenue growth and margin expansion over the next three years, as well as QVC's potential in SIMPL -- Social, International, Mobile, Payments, and Logistics -- retail.
09/28/17
SBSH
09/28/17
DOWNGRADE
Target $22
SBSH
Sell
QVC Group downgraded to Sell from Buy at Citi
Citi analyst Jason Bazinet double downgraded Liberty Interactive QVC Group to Sell from Buy and cut his price target for the shares to $22 from $27. The analyst expects the company to have more difficultly acquiring new customers as the pay TV ecosystem shrinks. Further, as free shipping and handling becomes the e-commerce norm, QVC's profits will see long-term pressure, Bazinet tells investors in a research note.
11/30/17
DADA
11/30/17
NO CHANGE
Target $33
DADA
Buy
QVC Group investors to find HSNi synergies compelling, says DA Davidson
DA Davidson analyst Tom Forte says that as shareholders prepare to vote on the pending QVC Group acquisition on December 29th, he expects investor focus to shift away from near-term operating results and toward the potential synergies of the deal. The analyst notes that the company has previously upped its projected synergy range to $200M-$220M from $75M-$110M at its November 16th analyst day, which he believes investors should find compelling. Forte keeps his Buy rating and $33 price target on QVC Group.
10/19/17
FBNS
10/19/17
NO CHANGE
FBNS
FBN wonders if Liberty Media should buy rest of Live Nation
Liberty Media (LMCA) currently owns 69.6M shares of Live Nation Entertainment (LYV), or 34.4% of the outstanding shares, FBN Securities analyst Robert Routh tells investors in a research note. The stake cannot go above 35% without approval from the Live Nation board or if Liberty tenders for all the equity it does already own, the analyst points out. Liberty Media tracks its stake via Liberty Formula One Group (FWONA). Routh notes. Liberty Media's restriction on Live Nation is the same one that was in place with HSN, Inc. (HSNI), which QVC Group (QVCA) recently agreed to purchase in its entirety. The analyst wonders if it makes sense for Liberty, given where Formula One is trading, to attempt to tender for the rest of Live Nation now, using equity as the deal currency. Such a move would not only put 100% of Live Nation under the Liberty Media umbrella, it would also make it easy for Liberty to highlight the value of Formula 1, Live Nation or both without any "onerous" tax consequences, Routh contends. Shares of Live Nation are up 17c to $42.76 in midday trading.
COST Costco
$184.43

6.9 (3.89%)

11/03/17
OPCO
11/03/17
NO CHANGE
Target $180
OPCO
Outperform
Oppenheimer views Amazon concerns around Costco as overblown
Oppenheimer analyst Brian Nagel says his "fresh look" into Costco (COST) suggests that market concerns of the company "falling victim to the disintermediating effects of eCommerce appear overblown." Costco's model continues to expand and scale well, despite the efforts of Amazom (AMZN) and others to push more aggressively into various categories, including perishables, Nagel tells investors in a research note. He attributes the company's recent membership trend weakness to "largely transitory and self-induced factors." The analyst lowered his price target for Costco shares to $180 from $185 and keeps an Outperform rating on the name.
10/09/17
RAJA
10/09/17
NO CHANGE
Target $173
RAJA
Outperform
Costco weakness a buying opportunity, says Raymond James
Raymond James analyst Budd Bugatch said Costco (COST) delivered solid Q4 results but shares were down 6% on uncertain membership growth and competitive concerns primarily from Amzon's (AMZN) purchase of Wholefoods. Bugatch said Costco has healthy membership growth and solid renewal rates and has a multi-year runway to drive market share gains through new club openings. The analyst recommends buying shares on weakness and reiterates his Outperform rating and $173 price target.
10/06/17
10/06/17
DOWNGRADE
Target $165

Equal Weight
Costco downgraded on EPS growth slowdown at Morgan Stanley
As previously reported, Morgan Stanley analyst Simeon Gutman downgraded Costco to Equal Weight from Overweight, stating that after its Q4 report last night he has cut his FY18 EPS growth estimate to $6.30. Moderating membership growth also led him to lower his EBITDA multiples, said Gutman, who added that the combination of decelerating EPS growth and "membership slippage" may make it tough for the stock to outperform. Gutman lowered his price target to $165 from $190 on Costco shares, which are down 4.5% to $159.50 in pre-market trading following last night's quarterly report.
11/30/17
STFL
11/30/17
NO CHANGE
Target $185
STFL
Buy
Costco price target raised to $185 from $179 at Stifel
Stifel analyst Mark Astrachan noted that Costco's (COST) core comp growth for the total company and in the U.S. both came in ahead of consensus expectations. He contends that accelerating comp growth is notable following the recent close of Amazon's (AMZN) deal to buy Whole Foods, as it indicates Costco's value proposition will allow it to coexist with Amazon. The analyst, who projects continued mid-single digit comp growth through at least FY19 at Costco, keeps a Buy rating on the stock and raised his price target to $185.
TJX TJX
$75.55

0.77 (1.03%)

11/15/17
RBCM
11/15/17
NO CHANGE
Target $70
RBCM
Outperform
TJX price target lowered to $70 from $76 at RBC Capital
RBC Capital analyst Brian Tunick lowered his price target on TJX (TJX) to $70, saying the company's Q3 results do not add to confidence in its business model amid competitive challenges from Amazon (AMZN) and the concerning comments from vendors. Longer-term, Tunick says TJX is still one of the best top and bottom line growers in retail with additional opportunities in home category and more store expansion potential across its concepts and globally, keeping his Outperform rating.
11/15/17
GSCO
11/15/17
NO CHANGE
Target $79
GSCO
Conviction Buy
TJX headwinds transient, model intact, says Goldman Sachs
Goldman analyst Lindsay Drucker Mann reiterated her Conviction Buy rating on TJX following disappointing Q3 results. The analyst said headwinds are transient and the model remains intact, supporting long-term secular share gains. Mann notes TJX offers consumers a deeper discount on brand than other retailers, has abundant supply of product, and is gaining share from specialty retailers and department stores. The analyst expects a Q4 comp acceleration to be a positive catalyst for shares and maintains a Conviction Buy rating on TJX, while lowering her price target to $79 from $90.
11/15/17
BMOC
11/15/17
NO CHANGE
Target $85
BMOC
Outperform
TJX stock price weakness is a buying opportunity, says BMO Capital
BMO Capital analyst John Morris kept his Outperform rating and $85 price target, saying the 1% decline in Marmaxx comps during Q3 was driven by adverse weather and should reverse to a 1%-2% increase in Q4. Morris adds that Q3 also showed a positive overall merchandise margin, while gross margin of 29.8% was above prior forecast of 29.2%-29.3% and suggests the quarter was "high quality". The analyst says investors have an opportunity to acquire more shares on post-earnings weakness.
11/15/17
SBSH
11/15/17
NO CHANGE
Target $81
SBSH
Buy
TJX price target lowered to $81 from $88 at Citi
Citi analyst Paul Lejuez lowered his price target for TJX to $81 but calls the company's Q3 results "more of a speed bump than a crack." While Marmaxx results were hurt by a fashion miss, TJX's flexible model already has the unit on the road to recovery, Lejuez tells investors in a post-earnings research note. He believes the retailer will have a strong holiday season, and meet or exceed guidance. The analyst keeps a Buy rating on TJX.

TODAY'S FREE FLY STORIES

MGPI

MGP Ingredients

$74.01

0.25 (0.34%)

13:13
12/12/17
12/12
13:13
12/12/17
13:13
Conference/Events
MGP Ingredients management to meet with Craig-Hallum »

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  • 14

    Dec

13:05
12/12/17
12/12
13:05
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13:05
General news
30-Yr Bond Auction Coupon Rate data reported »

30-Yr Bond Auction Coupon…

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12/12/17
12/12
13:05
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13:05
General news
30-Yr Bond Auction Total Amount data reported »

30-Yr Bond Auction Total…

RIOT

Riot Blockchain

$23.08

7.22 (45.52%)

13:05
12/12/17
12/12
13:05
12/12/17
13:05
Options
Riot Blockchain Inc call volume above normal and directionally bullish »

Bullish option flow…

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TWTR

Twitter

$21.88

-0.175 (-0.79%)

13:03
12/12/17
12/12
13:03
12/12/17
13:03
Hot Stocks
Twitter adds plus button to simplify making Tweet threads »

Twitter said in a blog…

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  • 23

    Jan

LLY

Eli Lilly

$86.39

-0.28 (-0.32%)

13:03
12/12/17
12/12
13:03
12/12/17
13:03
Hot Stocks
Eli Lilly Canada announces approval of Entuzity KwikPen »

Eli Lilly Canada…

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  • 13

    Dec

  • 18

    Jan

  • 31

    Jan

FDC

First Data

$16.60

0.175 (1.07%)

13:02
12/12/17
12/12
13:02
12/12/17
13:02
Conference/Events
First Data management to meet with Craig-Hallum »

Meetings to be held in…

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03/06/13
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  • 13

    Dec

  • 13

    Dec

  • 14

    Dec

WLL

Whiting Petroleum

$24.33

-1.2431 (-4.86%)

13:01
12/12/17
12/12
13:01
12/12/17
13:01
Downgrade
Whiting Petroleum rating change  »

Whiting Petroleum…

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12:55
12/12/17
12/12
12:55
12/12/17
12:55
Conference/Events
FCC to ho ld a council meeting »

The Communications…

RPD

Rapid7

$18.77

0.03 (0.16%)

12:55
12/12/17
12/12
12:55
12/12/17
12:55
Conference/Events
Rapid7 to host analyst day »

Analyst Day to be held in…

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  • 12

    Dec

EPAY

Bottomline Technologies

$33.86

0.08 (0.24%)

12:54
12/12/17
12/12
12:54
12/12/17
12:54
Conference/Events
Bottomline Technologies management to meet with Craig-Hallum »

Meeting to be held in…

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  • 13

    Dec

SPX

S&P 500

, SPY

SPDR S&P 500 ETF Trust

$267.13

0.82 (0.31%)

12:51
12/12/17
12/12
12:51
12/12/17
12:51
Hot Stocks
Senator Paul says tax cuts 'are never the problem' »

Senator Rand Paul just…

SPX

S&P 500

SPY

SPDR S&P 500 ETF Trust

$267.13

0.82 (0.31%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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12:50
12/12/17
12/12
12:50
12/12/17
12:50
General news
Senator Rand Paul tweet »

Senator Rand Paul tweet…

SPX

S&P 500

, SPY

SPDR S&P 500 ETF Trust

$266.94

0.63 (0.24%)

12:45
12/12/17
12/12
12:45
12/12/17
12:45
Hot Stocks
Senator Paul tweets opposition to bills that add to deficit »

Senator Rand Paul just…

SPX

S&P 500

SPY

SPDR S&P 500 ETF Trust

$266.94

0.63 (0.24%)

03/08/13
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03/06/13
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IBM

IBM

$157.33

1.92 (1.24%)

12:45
12/12/17
12/12
12:45
12/12/17
12:45
Options
IBM call volume above normal and directionally bullish »

Bullish option flow…

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  • 12

    Dec

12:35
12/12/17
12/12
12:35
12/12/17
12:35
General news
Treasury 30-year auction preview: the auction is likely to see average results »

Treasury 30-year auction…

KMT

Kennametal

$47.39

1.43 (3.11%)

12:20
12/12/17
12/12
12:20
12/12/17
12:20
Earnings
Kennametal sees FY21 adjusted sales growing to $2.5B-$2.6B »

Sees adjusted gross…

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  • 12

    Dec

KMX

CarMax

$67.59

-0.38 (-0.56%)

12:20
12/12/17
12/12
12:20
12/12/17
12:20
Options
Short-term put buying in Carmax »

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  • 21

    Dec

KMT

Kennametal

$47.38

1.415 (3.08%)

12:18
12/12/17
12/12
12:18
12/12/17
12:18
Earnings
Kennametal sees FY18 adjusted sales $2.2B-$2.275B, consensus $2.24B »

Sees FY18 adjusted gross…

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  • 12

    Dec

$NSD

NASDAQ Market Internals

12:17
12/12/17
12/12
12:17
12/12/17
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

12:16
12/12/17
12/12
12:16
12/12/17
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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03/06/13
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FNF

FNF Group

$40.39

-0.24 (-0.59%)

12:15
12/12/17
12/12
12:15
12/12/17
12:15
Conference/Events
FNF Group management to meet with Piper Jaffray »

Meeting to be held in…

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  • 13

    Dec

12:10
12/12/17
12/12
12:10
12/12/17
12:10
Conference/Events
Morgan Stanley consumer/tobacco analyst has an analyst/industry conference call »

U.S. Food &…

VLKAY

Volkswagen

$40.48

0.38 (0.95%)

12:10
12/12/17
12/12
12:10
12/12/17
12:10
Periodicals
VW-owned Scania appeals EUR880M EU fine over price fixing, Reuters reports »

Scania, which is owned by…

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AKS

AK Steel

$5.37

-0.035 (-0.65%)

12:10
12/12/17
12/12
12:10
12/12/17
12:10
Options
Change of sentiment in AK Steel »

Change of sentiment in AK…

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