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APRN

Blue Apron

$3.18

0.19 (6.35%)

15:15
12/01/17
12/01
15:15
12/01/17
15:15

Blue Apron downgraded after management shake-up at RBC Capital

As previously reported, RBC Capital analyst Mark Mahaney downgraded Blue Apron to Sector Perform from Outperform after the company announced that co-founder Matt Salzberg will be exiting as CEO and Brad Dickerson will be stepping into that role. Mahaney, who acknowledged he has "been arguably overly patient with the company," said the management change implies less visibility and certainty into Blue Apron's fundamentals. He lowered his price target on the stock to $4 from $6.

APRN Blue Apron
$3.18

0.19 (6.35%)

11/03/17
11/03/17
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. Blue Apron (APRN) downgraded to Underweight from Equal Weight at Barclays with analyst Ross Sandler saying while the company's third quarter revenue topped his estimate by 10%, the company burned $78M in free cash flow in the quarter, more than he expected. 2. Teva (TEVA) downgraded to Hold from Buy at Deutsche Bank with analyst Gregg Gilbert saying following the "disappointing" third quarter results and fourth quarter outlook, the analyst does not see enough to justify a Buy rating given the "multitude of uncertainties" on Teva's capital structure, core generic business, and management's ability to forecast its business. 3. Pandora (P) downgraded to Neutral from Buy at B. Riley FBR, to Neutral from Overweight at JPMorgan, and to Hold from Buy at SunTrust and Stifel. 4. Flowserve (FLS) downgraded to Neutral from Buy at Seaport Global and to Market Perform from Outperform at BMO Capital. 5. Newell Brands (NWL) downgraded to Outperform from Top Pick at RBC Capital and to Market Perform from Strong Buy at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/20/17
KEYB
11/20/17
INITIATION
KEYB
Sector Weight
Blue Apron initiated with a Sector Weight at KeyBanc
KeyBanc analyst Edward Yruma started Blue Apron with a Sector Weight rating, citing a binary outcome setup for the near-term, although his bias is positive.
11/20/17
11/20/17
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. Innoviva (INVA) initiated with a Hold at Deutsche Bank. 2. National Vision (EYE) was initiated with an Overweight at Morgan Stanley, an Outperform at Wells Fargo, a Buy at Jefferies and Citi, as well as a Neutral at Goldman Sachs, UBS, and BofA/Merrill. 3. Ablynx (ABLX) was initiated with an Overweight at JPMorgan, an Outperform at Baird, and a Buy at Ladenburg. 4. Blue Apron (APRN) initiated with a Sector Weight at KeyBanc. 5. BP Midstream (BPMP) was initiated with an Overweight at JPMorgan, a Buy at UBS and Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/01/17
RBCM
12/01/17
DOWNGRADE
RBCM
Sector Perform
Blue Apron downgraded to Sector Perform from Outperform at RBC Capital

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