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DIS

Disney

$104.23

-0.19 (-0.18%)

, GOOG

Alphabet

$1,037.05

6.12 (0.59%)

20:06
12/10/17
12/10
20:06
12/10/17
20:06

On The Fly: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. U.S. mall owner GGP (GGP) has rejected a $14.8B offer from the company's biggest shareholder, Brookfield Property (BPY), according to Reuters, citing people familiar with the matter. Brookfield Property made a $23 per share cash and stock offer last month for the 66% of GGP it does not already own, the publication noted. 2. Ascension and Providence St. Joseph Health, both nonprofits, are talking about combining, which would create an entity of unprecedent reach, according to The Wall Street Journal, citing people familiar with the matter. A deal would dethrone the nation's largest pure hospital operator, HCA Healthcare, the publication noted. 3. With Direct TV, AT&T (T) is trying to woo cord cutters and is not alone in the game, with Dish (DISH), Sony (SNE), Google (GOOG; GOOGL) and Hulu all launching their own internet TV bundles or MVPDs, Alex Eule wrote in this week's edition of Barron's. Tech's incursion into television means that scale is becoming more important than ever, especially if the cable bundle begins to fall apart, he noted, adding that a growing sense of desperation seems to be driving Walt Disney's (DIS) interest in buying the bulk of 21st Century Fox (FOX; FOXA). 4. Disney and Pixar's "Coco" remained number one in its third weekend, grossing another $18.3M for a domestic total of $135.5M. Overseas, the movie earned another $55.3M for a foreign cume of $253M. "Coco", which tells a story about the popular Mexican holiday Dia de Los Muertos, received an A+ CinemaScore and 96% from Rotten Tomatoes. 5. Alphabet, Delta Air Lines (DAL), Berkshire Hathaway (BRK.A), Volkswagen (VLKAY), Pioneer Natural Resources (PXD), Applied Materials (AMAT), Enterprise Products Partners (EPD), Ally Financial (ALLY), Anthem (ANTM), US Foods Holding (USFD), Toyota Motors (TM), Sony, and Softbank (SFTBY) saw positive mentions in Barron's while TJX (TJX), Ross Stores (ROST), MBIA (MBI), and CVS (CVS) were mentioned cautiously.

DIS

Disney

$104.23

-0.19 (-0.18%)

GOOG

Alphabet

$1,037.05

6.12 (0.59%)

GOOGL

Alphabet Class A

$1,049.38

4.81 (0.46%)

DAL

Delta Air Lines

$53.46

0.05 (0.09%)

BRK.A

Berkshire Hathaway

$294,385.33

285.33 (0.10%)

VLKAY

Volkswagen

$40.10

0.6 (1.52%)

PXD

Pioneer Natural

$155.90

1.65 (1.07%)

AMAT

Applied Materials

$51.43

-0.87 (-1.66%)

EPD

Enterprise Products

$24.94

0.25 (1.01%)

ALLY

Ally Financial

$28.65

0.28 (0.99%)

ANTM

Anthem

$224.85

1.21 (0.54%)

USFD

US Foods

$31.00

0.38 (1.24%)

TJX

TJX

$73.88

0.04 (0.05%)

ROST

Ross Stores

$76.89

0.19 (0.25%)

MBI

MBIA

$8.08

-0.01 (-0.12%)

CVS

CVS Health

$73.09

2 (2.81%)

T

AT&T

$36.73

0.56 (1.55%)

DISH

Dish

$48.59

-0.36 (-0.74%)

SNE

Sony

$45.79

0.04 (0.09%)

FOX

21st Century Fox

$32.97

-0.8 (-2.37%)

FOXA

21st Century Fox

$33.30

-0.88 (-2.57%)

TM

Toyota

$124.45

1.06 (0.86%)

SFTBY

SoftBank

$41.62

-0.02 (-0.05%)

GGP

GGP

$23.43

0.03 (0.13%)

BPY

Brookfield Property

$21.61

0.08 (0.37%)

HCA

HCA Healthcare

$84.84

-0.22 (-0.26%)

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    May

DIS Disney
$104.23

-0.19 (-0.18%)

12/07/17
WELS
12/07/17
NO CHANGE
Target $40
WELS
Outperform
21st Century Fox price target raised to $40 from $34 at Wells Fargo
Wells Fargo analyst Marci Ryvicker raised her price target for 21st Century Fox (FOXA) saying she believes it would be worth as much per share in a Disney (DIS) deal. The analyst reiterates an Outperform rating on 21st Century Fox shares.
12/05/17
PIPR
12/05/17
NO CHANGE
Target $120
PIPR
Overweight
Piper sees potential Fox deal as 'clear positive' for Disney
Piper Jaffray analyst Stan Meyers weighs in on Disney's (DIS) talks with 21st Century Fox (FOXA) to acquire Fox's film and TV studio, its Sky stake, Star India and some U.S. cable networks. A decision is likely by the end of 2017, the analyst points out. A deal would give Disney an opportunity to add to its "rich" intellectual property assets, evolve the Marvel Cinematic Universe, improve leverage with key counterparts and diversify its revenue streams away from the Pay TV ecosystem, Meyers tells investors in a research note. He estimates the deal size to be roughly $44B. The analyst sees the potential transaction as a "clear positive" for Disney. Meyers keeps an Overweight rating on the shares with a $120 price target.
11/17/17
RILY
11/17/17
NO CHANGE
Target $36
RILY
Neutral
21st Century Fox price target raised to $36 from $29 at B. Riley FBR
B. Riley FBR analyst Barton Crockett raised his price target for 21st Century Fox (FOXA) to $36 citing recent reports that Disney (DIS), Comcast (CMCSA), Verizon (VZ) or Sony (SNE) may make offers for the company. The "formerly unthinkable" prospect of Rupert Murdoch selling assets is likely to be factored into the equity price for some time, Crockett tells investors in a research. He keeps a Neutral rating on Fox given the stock's proximity to his new target.
12/07/17
JEFF
12/07/17
NO CHANGE
JEFF
Jefferies sees Disney, not Comcast, as more likely Fox suitor
Amid press reports that suggest Comcast (CMCSA) continues to pursue 21st Century Fox (FOXA) along with Disney (DIS), Jefferies analyst John Janedis says he sees Disney as the more likely suitor given the regulatory concerns with a Comcast deal. The analyst believes Comcast would need to offer a premium to Disney for Fox to compensate for more regulatory risk. However, assuming Comcast has interest in the same assets as Disney, and using the same $66B value for Fox's assets, the analyst estimates the deal would be high-single-digit dilutive to Comcast earnings, versus neutral to Disney due to relative tax rates.
GOOG Alphabet
$1,037.05

6.12 (0.59%)

12/05/17
MSCO
12/05/17
INITIATION
Target $28
MSCO
Overweight
Bandwidth initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Meta Marshall started Bandwidth (BAND) with an Overweight rating, calling the company unusual in the communications space since it owns both a software platform and the underlying nationwide IP voice network. Marshall, who thinks the market is underappreciating how compelling Bandwidth's value proposition could be, particularly with larger customers like Google (GOOG), Microsoft (MSFT), Amazon (AMZN) and Cisco (CSCO), set a $28 price target on Bandwidth shares.
12/08/17
JPMS
12/08/17
NO CHANGE
JPMS
JPMorgan sees AWS single sign-on having limited impact on Okta
Shares of Okta (OKTA) are trading down after Amazon Web Services (AMZN) introduced its own basic single sign-on solution. JPMorgan analyst Sterling Auty, however, believes the product will not have much of an impact on Okta. Similar to Microsoft (MSFT) Azure, Amazon's product will be good for applications only running in AWS or to control access to a limited number of other SaaS applications, Auty tells investors in a research note. The major advantage for Okta is the ability to control access to all applications regardless of whether they are deployed on premise, in AWS, in Azure, in Google (GOOG, GOOGL), or even a SaaS application like Salesforce (CRM), the analyst contends. He believes Okta's "secret sauce lies in being platform neutral." Auty keeps an Overweight rating on the shares. Okta in morning trading is down 5%, or $1.42, to $27.75.
12/07/17
COWN
12/07/17
NO CHANGE
COWN
Tax reform should drive upside for internet companies, says Cowen
Cowen analyst John Blackledge said the proposed U.S. tax overhaul should drive earnings upside at Facebook (FB), Amazon (AMZN) and Alphabet (GOOG). He estimates the cut would result in tax savings, leading to increased estimates for the companies and also notes the potential for repatriation to provide a lift.
12/06/17
PIPR
12/06/17
DOWNGRADE
Target $37
PIPR
Underweight
Yelp downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Sam Kemp downgraded Yelp (YELP) to Underweight from Neutral and lowered his price target for the shares to $37 from $38. The stock closed the trading day down $1.02 to $41.88. Given the "messiness" of removing Eat24, investors missed that Yelp lowered organic Q4 guidance by 2%, Kemp tells investors in a research note. He believes the company may guide down 2018 revenue when reporting Q4 results. Further, the analyst thinks Yelp's believe traffic will become more difficult as Facebook (FB) and Google (GOOG, GOOGL) aggressively route traffic to their own offerings. In addition, Kemp does not view Yelp as an acquisition candidate.
GOOGL Alphabet Class A
$1,049.38

4.81 (0.46%)

12/06/17
12/06/17
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. Alibaba (BABA) initiated with a Positive at Susquehanna. 2. WWE (WWE) initiated with an Overweight at JPMorgan. 3. Facebook (FB), Alphabet Class A (GOOGL), and Amazon.com (AMZN) were initiated with an Outperform at Evercore ISI, while Netflix (NFLX) was initiated with an In Line. 4. Applied Materials (AMAT) initiated with an Outperform at Wells Fargo. 5. Delphi Technologies (DLPH) was initiated with an Overweight at Barclays while being initiated with a Neutral at BofA/Merrill and UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/05/17
EVER
12/05/17
INITIATION
Target $46
EVER
In Line
Yelp initiated with an In Line at Evercore ISI
As reported earlier, Evercore ISI analyst Anthony DiClemente initiated Yelp (YELP) with an In Line rating and a price target of $46. DiClemente says the execution issues are now in the past as investor focus shifts to longer-term fundamentals. While there is runway for advertising penetration among local businesses, the analyst writes in his research note, there is also concern over the longer term about the company's competitive positioning relative to Facebook (FB) and Google (GOOGL). DiClemente believes that given the stock price appreciation of about 13% year-to-date, estimates would have to rise to justify more gains.
12/05/17
EVER
12/05/17
INITIATION
Target $1230
EVER
Outperform
Alphabet Class A initiated with an Outperform at Evercore ISI
As reported earlier, Evercore ISI analyst Anthony DiClemente initiated Alphabet with an Outperform rating and a price target of $1,230. DiClemente says Alphabet will remain "the world's largest and most successful advertising platform well into the next decade". The analyst adds that mobile search will continue to see robust revenue growth and YouTube can supplement the strong audience trends with monetization improvement. DiClemente also says Google Play app store and Cloud can provide attractive opportunities in markets beyond advertising.
DAL Delta Air Lines
$53.46

0.05 (0.09%)

12/07/17
BOFA
12/07/17
NO CHANGE
BOFA
Goldman Sachsadded to US 1 List, Delta Air Lines removed at BofA/Merrill
10/12/17
IMPC
10/12/17
UPGRADE
Target $63
IMPC
Outperform
Delta Air Lines upgraded to Outperform from In-Line at Imperial Capital
Imperial Capital analyst Michael Derchin upgraded Delta Air Lines to Outperform and raised his price target for the shares to $63 from $50. The company is likely to grow unit revenues in fiscal year 2018 due to pricing power in its key domestic hubs and improving international results, the analyst tells investors in a research note.
10/12/17
10/12/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Delta Air Lines (DAL) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying the company is likely to grow unit revenues in fiscal year 2018 due to pricing power in its key domestic hubs and improving international results. 2. Transocean (RIG) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. 3. Canadian Pacific (CP) upgraded to Overweight from Neutral at JPMorgan with analyst Brian Ossenbeck saying he sees a shift to stronger volume growth as the company laps contract losses and records some new contract wins. 4. Infinity upgraded to Outperform from Market Perform at Wells Fargo with analyst Jim Birchenough saying the IPI-549 monotherapy data have a "reasonable likelihood" of proof-of-concept response rate, and with likely validation of tumor macrophage targeting in immunooncology and a unique mechanism of action, upside potential is not reflected in the current stock price. 5. Kroger (KR) upgraded to Equal Weight from Underweight at Stephens with analyst Ben Bienvenu saying he believes the pursuit of strategic alternatives for the convenience store business has potential to unlock value and that the risk/reward is more balanced following the stock's recent pullback. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/17
JPMS
11/01/17
DOWNGRADE
Target $60
JPMS
Underweight
United Continental downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Jamie Baker downgraded United Continental Holdings (UAL) to Underweight and cut his price target for the shares to $60 from $68. The analyst says his analysis suggests no evidence that United's margins are on the mend. He no longer views United's plans to close the margin gap with Delta (DAL) as credible. Baker sees better risk-adjusted upside in both Delta and American Airlines (AAL) shares.
BRK.A Berkshire Hathaway
$294,385.33

285.33 (0.10%)

09/14/17
09/14/17
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. Berkshire Hathaway (BRK.A, BRK.B) initiated with an Overweight at JPMorgan. 2. BCB Bancorp (BCBP) was initiated with a Buy at DA Davidson and an Outperform at Keefe Bruyette. 3. Koppers Holdings (KOP) reinstated with an Outperform at Barrington. 4. Ferrari (RACE) initiated with a Neutral at Goldman Sachs. 5. Conduent (CNDT) initiated with a Hold at Needham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/14/17
JPMS
09/14/17
INITIATION
Target $210
JPMS
Overweight
Berkshire Hathaway initiated with an Overweight at JPMorgan
JPMorgan analyst Sarah DeWitt started Berkshire Hathaway (BRK.B) with an Overweight rating and $210 price target. The company "is a collection of best-in-class businesses with unmatched balance sheet strength," DeWitt tells investors in a research note. She thinks Berkshire's largest businesses have structural advantages that will drive faster earnings and book value growth than overall equity markets over time.
07/12/17
LOOP
07/12/17
NO CHANGE
Target $42
LOOP
Buy
Core-Mark unlikely to 'get Amazoned,' says Loop Capital
Loop Capital analyst Andrew Wolf said he sees Core-Mark (CORE) as the least likely company among those he covers to get "Amazoned," or put at risk by Amazon (AMZN) buying a competitor. Its closest competitor McLane, which is owned by Berkshire Hathaway (BRK.B), is highly unlikely to sell to Amazon given that its largest customer is Amazon's rival Wal-Mart (WMT), Wolf tells investors. He keeps a Buy rating on Core-Mark and raised his target on the shares to $42 from $40 citing his increased 2018 EPS forecast.
11/22/17
SBSH
11/22/17
NO CHANGE
Target $34
SBSH
Neutral
Axalta remains potential acquisition target, says Citi
Citi analyst P.J. Juvekar expects "significant downward pressure" today in shares of Axalta Coating (AXTA) after AkzoNobel (AKZOY) confirmed that it has walked away from merger talks. When the initial news hit, Axalta shares jumped 17%, or nearly $5 per share, and since then are up another 2%, Juvekar tells investors in a research note. His bear case scenario for the shares if the deal did not happen is $28, or 10.8 times his 2018 EBITDA estimate. The analyst, however, thinks Axalta remains a potential acquisition target given the ongoing consolidation of the paints industry. He still thinks the involvement of Berkshire Hathaway (BRK.A, BRK.B) 10% owner, "is a wildcard." Nonetheless, Juvekar remains concerned about the company's near-term fundamentals and keeps a Neutral rating on Axalta with a $34 price target.
VLKAY Volkswagen
$40.10

0.6 (1.52%)

04/18/17
JEFF
04/18/17
UPGRADE
JEFF
Buy
Volkswagen upgraded to Buy from Underperform at Jefferies
Jefferies analyst Philippe Jean Houchois double upgraded Volkswagen to Buy from Underperform and raised his price target for the shares to EUR 160 from EUR 110.
08/07/17
JEFF
08/07/17
DOWNGRADE
JEFF
Hold
Volkswagen downgraded to Hold from Buy at Jefferies
Jefferies analyst Philippe Houchois downgraded Volkswagen to Hold and lowered his price target for the shares to EUR 145 from EUR 160.
09/27/17
BARD
09/27/17
NO CHANGE
Target $48
BARD
Outperform
Navistar story remains compelling, says Baird
Baird analyst David Leiker believes the Navistar story is in its early innings, with current results near breakeven but with big upside over the next two to three years. The analyst noted its higher market share, stronger than expected EBITDA contribution and order growth that outpaces the industry - all of which increases his conviction in the company. Leiker reiterated his Outperform rating and $48 price target on Navistar shares.
11/29/17
SUSQ
11/29/17
INITIATION
Target $50
SUSQ
Positive
Navistar initiated with a Positive at Susquehanna
Susquehanna analyst Brendon Mason initiated Navistar (NAV) with a Positive rating as he sees the company emerging from its failed engine strategy and internal restructuring strategy with an improved risk paradigm. The analyst said its alliance with Volkswagen (VLKAY) provides both immediate relief and significant long-term potential, its progress on improved margins should continue, and demand and build rates are expected to be strong in 2018 and 2019. Mason has a $50 price target on Navistar shares.
PXD Pioneer Natural
$155.90

1.65 (1.07%)

09/07/17
MUFG
09/07/17
NO CHANGE
Target $170
MUFG
Overweight
Pioneer Natural price target lowered to $170 from $230 at MUFG
MUFG analyst Michael McAllister lowered his price target for Pioneer Natural Resources to $170 and keeps an Overweight rating on the name. The analyst believes a 10.4 times expected 2018 EBITDA is a more appropriate valuation that "reflects the lack of urgency" in the investment community for Exploration and Production equities.
10/16/17
WOLF
10/16/17
DOWNGRADE
WOLF
Peer Perform
Pioneer Natural downgraded to Peer Perform from Outperform at Wolfe Research
08/29/17
JEFF
08/29/17
NO CHANGE
Target $25
JEFF
Buy
Jefferies cuts oil forecast, Exploration & Production price targets
Jefferies lowered its Brent estimate to $57 per barrel from $64 in 2018, to $60 from $67 in 2019, and to $65 from $70 in 2020. The market appears to be adequately supplied in the near term, but depleting proved developed reserves and shrinking spare capacity should support rising longer-term price assumption, analyst Michael Hsu tells investors in a research note. To reflect the reduced forecast, the analyst cut his price targets for names in the Exploration & Production space. Target cuts include Buy-rated Carrizo Oil & Gas (CRZO) to $25 from $32, Buy-rated Continental Resources (CLR) to $42 from $52, Buy-rated Newfield Exploration (NFX) to $40 from $46, Buy-rated Noble Energy (NBL) to $32 from $36, Buy-rated Oasis Petroleum (OAS) to $13 from $16, Buy-rated Pioneer Natural Resources (PXD) to $171 from $192 and Buy-rated Range Resources (RRC) to $36 from $37.
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.
AMAT Applied Materials
$51.43

-0.87 (-1.66%)

12/05/17
WELS
12/05/17
INITIATION
WELS
Outperform
Applied Materials initiated with an Outperform at Wells Fargo
Wells Fargo analyst David Wong initiated Applie Materials with an Outperform rating and $65 price target, saying the company has a competitive advantage as the leader in multiple semiconductor equipment end markets.
11/30/17
STFL
11/30/17
NO CHANGE
Target $66
STFL
Buy
Applied Materials selloff provides attractive entry point, says Stifel
Stifel analyst Patrick Ho believes the selloff on Wednesday, and any subsequent pullbacks, in shares of Applied Materials present an attractive entry point as he thinks the company is poised to outperform overall wafer fab equipment growth trends in 2018 and beyond. The analyst, who also believes the company continues to see improved earnings leverage and longer-term expansion potential, keeps a Buy rating and $66 price target on Applied Materials.
11/21/17
NOMU
11/21/17
NO CHANGE
Target $65
NOMU
Buy
Applied Materials price target raised to $65 from $55 at Nomura Instinet
Nomura Instinet analyst Romit Shah raised his price target for Applied Materials to $65 citing the "solid" Q4 earnings beat. The analyst keeps a Buy rating on the shares.
EPD Enterprise Products
$24.94

0.25 (1.01%)

06/15/17
MSCO
06/15/17
UPGRADE
MSCO
Overweight
Enterprise Products upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Tom Abrams upgraded Enterprise Products to Overweight from Equal Weight citing relative valuation and said the company should benefit from improving ethane markets over the next few years.
10/10/17
GHSC
10/10/17
INITIATION
Target $29
GHSC
Neutral
Enterprise Products initiated with a Neutral at Seaport Global
Seaport Global analyst Bernie Colson initiated Enterprise Products with a Neutral and $29 price target.
04/21/17
MACQ
04/21/17
INITIATION
Target $32
MACQ
Outperform
Enterprise Products initiated with an Outperform at Macquarie
Macquarie analyst Andrew Weisel initiated Enerprise Products with an Outperform and a $32 price target saying it is a high quality, well-respected company with an impressive track record of consistency.
06/15/17
06/15/17
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. La Quinta (LQ) upgraded to Overweight from Equal Weight at Morgan Stanley with the firm's analyst indicating a more bullish outlook for lodging demand given the stronger economy and raised La Quinta estimates, and notes shares have underperformed year-to-date. 2. Paccar (PCAR) upgraded to Buy from Neutral at Goldman Sachs with analyst Jerry Revinch saying he is positive on the company's prospects to further improve its industry-leading returns on capital. 3. Thomson Reuters (TRI) upgraded to Outperform from Neutral at Macquarie with analyst Giasone Salati saying he now believes the company is well positioned for what might be a once-in-a-decade boost in demand for services by MIFID II investment firms. 4. Beazer Homes (BZH) upgraded to Outperform from Neutral at Wedbush with analyst Jay McCanless citing what he sees as "the loosening of credit standards at Fannie Mae (FNMA)." 5. Enterprise Products (EPD) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Tom Abrams citing relative valuation and said the company should benefit from improving ethane markets over the next few years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ALLY Ally Financial
$28.65

0.28 (0.99%)

10/26/17
JANY
10/26/17
NO CHANGE
Target $26
JANY
Neutral
Ally Financial earnings not as strong as they appear, says Janney Capital
Janney Capital analyst John Rowan noted that Ally reported operating EPS of 65c, which may look like a solid beat versus the consensus 58c forecast, but he notes the variance was all in the tax line. Rowan, who noted that auto originations are slowing and credit costs are rising, keeps a Neutral rating on Ally shares but raised his fair value estimate on the stock to $26 from $23.
12/01/17
WELS
12/01/17
INITIATION
Target $30
WELS
Outperform
Ally Financial resumed with an Outperform at Wells Fargo
Wells Fargo analyst Donald Fandetti resumed coverage of Ally Financial with an Outperform rating and $30 price target. The analyst views the valuation as attractive at current levels given the strength of the U.S. consumer.
12/07/17
MSCO
12/07/17
NO CHANGE
MSCO
Morgan Stanley says TD Ameritrade most likely discount broker to embrace bitcoin
Given recent regulatory approval and the upcoming launch of bitcoin futures trading on CME (CME) and CBOE (CBOE), Morgan Stanley analyst Michael Cyprys said he expects discount brokers including E-Trade (ETFC), TD Ameritrade (AMTD) and Ally Financial (ALLY) to offer bitcoin futures trading within the next few months. Among them, he views TD Ameritrade as most likely to embrace bitcoin and lead the way and Charles Schwab (SCHW) as likely to be a latecomer. Cyprys added that he was surprised, given its status as a "challenger brand," that E-Trade has said it will take "a wait-and-see" approach.
11/15/17
MSCO
11/15/17
NO CHANGE
MSCO
Morgan Stanley says higher SIFI threshold could benefit Comerica, CIT, Zions
After Senate Banking Committee Chairman Mike Crapo proposed a bill in the Senate that would effectively remove the SIFI threshold for banks under $250B, Morgan Stanley analyst Ken Zerbe estimated that banks with $50B-$100B in assets could see a 12% increase in 2020 EPS and a 15% bump in 2021. He sees the largest potential increase at Comerica (CMA), followed by CIT Group (CIT) and Zions Bancorp (ZION). Zerbe projects the least EPS benefit for SunTrust (STI), Regions Financial (RF), Ally Financial (ALLY) and Discover (DFS), he tells investors. Other banks he lists in his note as potentially impacted by SIFI and CCAR changes include Synchrony (SYF), M&T Bank (MTB), KeyCorp (KEY), Fifth Third (FITB), BB&T (BBT), Citizens Financial (CFG) and Huntington Bancshares (HBAN).
ANTM Anthem
$224.85

1.21 (0.54%)

11/27/17
LEER
11/27/17
NO CHANGE
Target $280
LEER
Outperform
Cigna most likely acquirer of Humana in any potential transaction, says Leerink
Leerink analyst Ana Gupte notes that a Change of Control 8-K filed by Humana (HUM) suggests that the company is a possible take-out target after the Medicare Advantage Annual Enrollment Season, though the company maintains that this is a needed refresh with broader policy guidelines, rather than individually driven. The analyst sees Cigna (CI) as the most likely acquirer in any potential transaction and able to offer as much as 6% accretion in year 2 and 12% in year 3 post close. However, Anthem (ANTM) and even Wal-Mart (WMT) or Walgreens Boots Alliance (WBA) could be other dark horse acquirers, she contends. Gupte expects that Cigna would need to divest its legacy Health Spring MA assets to satisfy anti-trust regulators, with multiple possible buyers for the assets including WellCare (WCG), Aetna (AET) and Anthem. The analyst reiterates an Outperform rating and $280 price target on Humana shares.
11/07/17
LEER
11/07/17
NO CHANGE
Target $300
LEER
Outperform
Anthem price target raised to $300 from $245 at Leerink
Leerink analyst Ana Gupte raised her price target for Anthem to $300 from $245 as she sees the appointment of Gail Boudreaux as its next CEO as a "strong driver" of multiple expansion. The analyst reiterates an Outperform rating on the shares.
11/09/17
BARD
11/09/17
NO CHANGE
Target $101
BARD
Outperform
Anthem significantly opens access to Sarepta DMD drug, says Baird
Baird analyst Brian Skorney noted that Anthem (ANTM) has reversed course with its new coverage policy for Sarepta's (SRPT) Duchenne muscular dystrophy drug Exondys 51, as the insurer now considers the drug "medically necessary," compared to its prior view of eteplirsen as "investigational and not medically necessary." This is a significant step in the right direction for Sarepta and points to continued progress on the reimbursement front, Skorney tells investors. He maintains an Outperform rating and $101 price target on Sarepta shares.
12/06/17
COWN
12/06/17
NO CHANGE
COWN
Tax reform best for Medicare Advantage products, says Cowen
Cowen analyst Christine Arnold reviewed the tax reform implications for the managed care sector and believes the lower tax rate will be most beneficial for Medicare Advantage products as it could allow companies to offset a portion of the non-tax deductible headwind, allowing for stronger margins and/or enhanced benefits for seniors. She believes the lower tax rate would be most positive for Molina (MOH) and WellCare (WCG) given their domestic exposure, but it would also lead to a 15% earnings increase above her projections for Aetna (AET), Anthem (ANTM), Centene (CNC) and Humana (HUM).
USFD US Foods
$31.00

0.38 (1.24%)

11/03/17
WELS
11/03/17
UPGRADE
WELS
Outperform
Performance Food assumed with Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Edward Kelly upgraded Performance Food Group (PFGC) to Outperform from Market Perform after assuming coverage of the name. Food service represents one of the most attractive sectors within consumer, Kelly tells investors in a research note on the sector. The analyst has a $34 price target for Performance Food shares. Kelly also assumed Sysco (SYY) and US Foods (USFD) with Outperform ratings and price targets of $64 and $33, respectively. Those ratings are unchanged from his firm's previous coverage.
09/13/17
LEHM
09/13/17
UPGRADE
LEHM
Overweight
US Foods upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Karen Short upgraded US Foods to Overweight and increased its price target to $32 from $30 due to attractive valuation, earnings and EBITDA growth, free cash flow yield, and leverage. The analyst said independent growth remains robust and the company is confident in its ability to improve GP dollars despite re-accelerating inflation.
08/10/17
RBCM
08/10/17
NO CHANGE
RBCM
US Foods outlook remains positive, says RBC Capital
RBC Capital analyst William Kirk says that US Foods' comments about slower revenue growth in 2H17 shouldn't be surprising, as its comp got harder.The analyst still expects the company to gain share and generate high single digit adjusted EBITDA growth. He reiterates a $32 price target and an Outperform rating on the shares.
08/10/17
WELS
08/10/17
NO CHANGE
WELS
US Foods has reached attractive entry point, says Wells Fargo
Wells Fargo says that US Foods has reached an attractive entry point after it fell 4.6% following its Q2 results. Wells says that the company's results were solid, and it believes that most of the concerns about them relate to "transitory" issues. Wells expects the company's gross margins to rebound in 2H17 as inflation slows, and it thinks that the 5.5% increase in the company's Q2 gross profit is much more meaningful than the slight decline in its gross margins. It keeps an Outperform rating on the stock.
TJX TJX
$73.88

0.04 (0.05%)

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.
12/01/17
DADA
12/01/17
NO CHANGE
Target $85
DADA
Buy
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).
12/05/17
GSCO
12/05/17
DOWNGRADE
GSCO
Buy
TJX downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman analyst Lindsay Drucker Mann removed TJX (TJX) from the Conviction Buy List and maintained a Buy rating and $79 price target. The analyst sees clearer near-term catalysts for Tapestry (TPR), which was added to the Conviction Buy List, and maintains a Buy rating on TJX given its advantaged business model and expectations for Marmaxx improvement.
12/05/17
12/05/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Expedia (EXPE) downgraded to Hold from Buy at Argus with analyst John Staszak saying the rating change reflects the company's "reduced 2018 guidance and prospects for increased spending on employee compensation, technology, and marketing next year." 2. TJX (TJX) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Lindsay Drucker Mann saying she sees clearer near-term catalysts for Tapestry (TPR), which was added to the Conviction Buy List, and maintains a Buy rating on TJX given its advantaged business model and expectations for Marmaxx improvement. 3. Allegiant Travel (ALGT) downgraded to Neutral from Buy at Buckingham. 4. Madison Square Garden (MSG) downgraded to Equal Weight at Morgan Stanley with analyst Benjamin Swinburne noting the shares have outperformed the broader Media space significantly year-to-date, narrowing the stock's discount to the company's net asset value. 5. Robert Half (RHI) downgraded to Underperform from Neutral at Macquarie with analyst Hamzah Mazari citing accelerating technology risks around disruption of the accounting and office admin staffing business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ROST Ross Stores
$76.89

0.19 (0.25%)

09/25/17
JPMS
09/25/17
UPGRADE
Target $74
JPMS
Overweight
Ross Stores upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Matthew Boss upgraded Ross Stores to Overweight and raised his price target for the shares to $74 from $65. The analyst left meetings with management more positive on the off-price sector and believes the company is well positioned for double-digit growth.
11/17/17
RHCO
11/17/17
NO CHANGE
Target $80
RHCO
Buy
Ross Stores price target raised to $80 from $75 at SunTrust
SunTrust analyst Pamela Quintiliano raised her price target on Ross Stores to $80 and kept her Buy rating after the company beat on Q3 earnings and raised its FY17 guidance. Quintiliano says the outlook will prove to be conservative as the company outperforms during the holiday period. The analyst is especially positive on this year's performance in Childrens segment as well as recovery of inventories following some disruptions earlier. Quintiliano says that in spite of muted mall traffic activity, the traffic at Ross Stores rose for the 6th consecutive quarter.
10/19/17
BUCK
10/19/17
INITIATION
Target $71
BUCK
Neutral
Ross Stores assumed with a Neutral at Buckingham
Buckingham analyst Eric Tracy assumed coverage on Ross Stores with a Neutral and $71 price target.
09/25/17
09/25/17
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 Buy from Hold at Deutsche Bank with analyst Rod Lache saying GM's autonomous vehicles will be ready for commercial deployment, without human drivers, much sooner than widely expected and possibly years ahead of competitors. 2. Ross Stores (ROST) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying he left meetings with management more positive on the off-price sector and believes the company is well positioned for double-digit growth. 3. Under Armour (UA, UAA) upgraded to Overweight from Sector Weight at KeyBanc with analyst Edward Yruma saying the addition of a new chief operating officer along with a renewed focus on improving financial performance point to a near-term inflection for the shares. 4. Transocean (RIG) upgraded to Buy from Neutral at UBS with analyst Angie Sedita citing "early signs of a slow recovery." 5. Box (BOX) upgraded to Outperform from Market Perform at Raymond James with analyst Brian Peterson saying risk/reward is compelling at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MBI MBIA
$8.08

-0.01 (-0.12%)

01/30/17
MKMP
01/30/17
NO CHANGE
Target $15
MKMP
Buy
MBIA weakness a buying opportunity, says MKM Partners
MKM Partners analyst Harry Fong said MBIA shares are down 10% over the past several days likely to stories that Puerto Rico's electric utilities' restructuring agreement may need to be revised. Fong believes the restructuring will be completed as currently structured and would use the weakness in MBIA as a buying opportunity. The analyst rates MBIA a Buy with a $15 price target.
10/05/17
MKMP
10/05/17
NO CHANGE
MKMP
Bond insurer decline could be opportunity, says MKM Partners
After President Trump said all of Puerto Rico's debt would have to be wiped out, MKM PArtners analyst Harry Fong does not expect the debt to actually be wiped out. He believes that taking this step would violate the principles of contract law and could destroy the municipal bond market. The analyst adds that the bond insurers will not face liquidity issues if Puerto Rico's debt is wiped out. He believes that the decline in their stocks could prove to be a buying opportunity. He keeps Buy ratings on Assured Guaranty (AGO) and MBIA (MBI), and he maintains a Neutral rating on Ambac (AMBC).
06/07/17
BTIG
06/07/17
NO CHANGE
BTIG
MBIA may be more likely to accept takeover offer, says BTIG
BTIG analyst Mark Palmer believes that S&P's decision to place the credit rating of MBIA's (MBI) National Public Finance Guarantee Corp.on credit watch negative could increase the chances of MBIA selling itself to Assured Guaranty (AGO). Plamer thinks that such a deal would be a "win-win" for MBIA and Assured Guaranty. He keeps Buy ratings on both stocks.
CVS CVS Health
$73.09

2 (2.81%)

12/06/17
ARGS
12/06/17
DOWNGRADE
ARGS
Hold
Aetna downgraded to Hold from Buy at Argus
Argus analyst David Toung downgraded Aetna (AET) to Hold from Buy following the CVS Health (CVS) merger announcement, saying a more neutral view is now appropriate after a run-up in the stock price which outperformed over the past 5 years. Toung also notes the company is faced with potential risks around regulatory changes in the Medicare Advantage and Medicaid markets as well as possible margin pressure from higher post-merger utilization amid a moderate cost trend medical environment.
12/05/17
OPCO
12/05/17
NO CHANGE
OPCO
Perform
Oppenheimer expected higher premium for Aetna shareholders
Oppenheimer analyst Michael Wiederhorn believes CVS Health (CVS) acquisition of Aetna (AET) creates a powerful healthcare competitor. However, he thinks the transaction is more beneficial to CVS given the competitive pressures and need to take action, and he would have expected a higher premium for Aetna shareholders. Wiederhorn reiterates a Perform rating on Aetna's shares.
12/05/17
BMOC
12/05/17
NO CHANGE
Target $200
BMOC
Market Perform
Aetna-CVS deal is a high risk-reward strategy, says BMO Capital
BMO Capital analyst Matt Borsch is positive on the Aetna (AET) - CVS Health (CVS) merger, saying it accelerates the transformation of healthcare offerings through "the shift to value-based reimbursement, formation of provider 'accountable care organizations', payer-side aggregation of provider assets, and proliferation of lower-cost sites of care" among others. Borsch says that while United Health (UNH) has led this path with Optum, CVS-Aetna partnership may challenge its model. The analyst keeps his Market Perform rating and $200 price target on Aetna, warning that a failed implementation, given the high debt loads and an uncharted path to convert storefronts to healthcare centers, might be "historic".
12/06/17
BERN
12/06/17
UPGRADE
Target $65
BERN
Market Perform
Express Scripts upgraded to Market Perform from Underperform at Bernstein
Bernstein upgraded Express Scripts to Market Perform from Underperform, with a $65 price target, based upon improved upside risks from potential policy and competitor actions and valuation. Give recent developments, the analyst sees certain upside opportunities to Express Scripts, specifically tax reform, a potential CVS Health (CVS)/Aetna (AET) merger, and a potential entry by Amazon (AMZN) into pharmacy.
T AT&T
$36.73

0.56 (1.55%)

12/04/17
JEFF
12/04/17
NO CHANGE
Target $194
JEFF
Hold
Jefferies sees Aetna trading at 10% discount to deal price
Jefferies analyst David Windley sees Aetna (AET) trading at a 10% spread to the $207 per share price paid by CVS Health (CVS) given the deal's "regulatory hurdles." The analyst sees Aetna trading today to $186 per share. Aetna in premarket trading is up 3%, or $5.99, to $187.30. Windley raised his price target for the stock to $194 from $185 and keeps a Hold rating on the name. The Department of Justice's stance on another major vertical integration, AT&T's (T) acquisition of Time Warner (TWX), suggests the CVS, Aetna transaction could face "significant scrutiny," Windley tells investors in a research note. He believes the regulatory cycle will likely take 9-12 months and may require some Part D divestitures.
11/29/17
KEYB
11/29/17
NO CHANGE
KEYB
Q3 results, analysis of Q4 viewership trends show some bright spots, says KeyBanc
KeyBanc analyst Andy Hargreaves notes that the Department of Justice's decision to sue to block AT&T (T)/Time Warner (TWX) seems likely to halt additional M&A until a resolution is reached. Additionally, the analyst points out that Q4 viewership trends appear most positive for Discovery (DISCA), Viacom (VIAB) so far, and 21st Century Fox (FOXA) remains his favorite long among TV network stocks.
11/21/17
CHLM
11/21/17
NO CHANGE
Target $114
CHLM
Buy
Dycom price target raised to $114 from $90 at Craig-Hallum
Craig-Hallum analyst Christian Schwab raised his price target for Dycom (DY) to $114 from $90 following quarterly results and as the worst of AT&T's (T) spending moderation seems behind it. The analyst reiterates a Buy rating on Dycom's shares.
12/05/17
COWN
12/05/17
NO CHANGE
Target $170
COWN
Outperform
SBA Communications price target raised to $170 from $155 at Cowen
Cowen analyst Colby Synesael raised his price target on SBA Communications (SBAC) to $170 from $155 following meetings with management. The analyst noted its opportunities with Sprint (S) and AT&T (T) along with the small likelihood of M&A. Synesael reiterated his Outperform rating on SBA Communications shares.
DISH Dish
$48.59

-0.36 (-0.74%)

10/05/17
DBAB
10/05/17
NO CHANGE
Target $99
DBAB
Buy
Deutsche hears 'clearer narrative' from DISH, keeps $99 price target
After Dish CEO Charlie Ergen participated in a fireside chat presentation at his firm's Leveraged Finance Conference on Tuesday, Deutsche Bank analyst Bryan Kraft keeps a Buy rating on the shares with a $99 price target. Following "more muddled messaging" on the company's Q2 earnings call, which drove the shares lower over the past two months, a "clearer narrative" is emerging at Dish, Kraft tells investors in a research note. The analyst sees "strong potential" for long term value creation through the monetization or utilization of Dish's core asset, its wireless spectrum. The option Dish seems most active in pursuing is the creation of a Neutral Host model that provides connectivity and related services to commercial and governmental customers primarily for Internet of Things applications, Kraft writes. He notes that Ergen highlighted 2020 as the year when the company would be in a position to begin implementing the NH strategy.
10/17/17
MSCO
10/17/17
NO CHANGE
Target $75
MSCO
Overweight
Dish pullback a buying opportunity, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne notes that Dish Network shares are down about 25% since the company's Q2 earnings report. At these levels, he equates the share price to the equivalent of either getting a 45% discount to his estimated value for its mid-band spectrum or getting a steep discount on the multiple for its pay-TV business, he tells investors. However, strategic options exist for both assets, said Swinburne, who views the slide in the stock as an opportunity. He keeps an Overweight rating and $75 price target on Dish Network shares.
10/17/17
HSBC
10/17/17
NO CHANGE
Target $52
HSBC
Hold
Dish price target lowered to $52 from $63 at HSBC
HSBC analyst Sunil Rajgopal said Dish (DISH) is in a difficult position given consumers' increasing preference for OTT video and migration to low-tiered packages, combined with limited progress on spectrum monetization. The analyst believes the potential tie-up of Sprint (S) and T-Mobile (TMUS) reduces the prospects of Dish's entry into wireless further and lowers its bargaining power in any future spectrum monetization talks. Rajgopal has turned more bearish on Dish's subscriber trends and expects 391K traditional subs losses in Q3 and 759K subs losses in 2018, and cut estimates for 2017-19. As a result, the analyst moves his price target on shares to $52 from $63 and maintains a Hold rating.
11/06/17
PIVT
11/06/17
UPGRADE
Target $65
PIVT
Buy
Dish upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Jeffrey Wlodarczak upgraded Dish Network (DISH) to Buy saying recent underperformance has brought an attractive risk/reward profile for the shares. The analyst sees a "reasonable chance" of T-Mobile (TMUS) making a play for Dish or Dish spectrum after the company failed to reach a merger agreement with Sprint (S). Such a move would "immediately vault the most disruptive U.S. wireless player into the leading U.S. spectrum position," Wlodarczak tells investors in a research note. He believes that a T-Mobile overture could force Verizon (VZ) to counterbid for Dish spectrum, or possibly the entire company, noting that the spectrum is "ideally suited" for Verizon. The analyst trimmed his price target for Dish shares to $65 from $68.
SNE Sony
$45.79

0.04 (0.09%)

10/11/17
MSCO
10/11/17
DOWNGRADE
MSCO
Equal Weight
Sony downgraded to Equal Weight from Overweight at Morgan Stanley
10/11/17
10/11/17
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. Schlumberger (SLB) downgraded to Market Perform from Outperform at BMO Capital with analyst Daniel Boyd saying he sees risk to 2018 estimates and limited room for multiple expansion. 2. Sony (SNE) downgraded to Equal Weight from Overweight at Morgan Stanley 3. Chico's (CHS) downgraded to Underperform from Neutral at BofA/Merrill with analyst Lorraine Hutchinson saying the premium multiple is unwarranted. 4. Robert Half (RHI) downgraded to Hold from Buy at SunTrust with analyst Tobey Sommer citing the recent underperformance relative to the U.S. staffing market and moderating growth of accounting jobs. 5. Coach (COH) downgraded to Neutral from Outperform at Consumer Edge. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/07/17
BARD
12/07/17
NO CHANGE
BARD
Data so far suggesting healthy holiday game sales, says Baird
Baird analyst Colin Sebastian noted that French game maker Ubisoft (UBSFY) raised its revenue and margin guidance for the December quarter, which he views as a slight positive for video game industry sales momentum this holiday season. Data also point to solid sales for both Sony's (SNE) PS4 and Nintendo's (NTDOY) Switch, which are a driver of software as well as a key catalyst for Gamestop (GME), Sebastian added. Other publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), Take-Two (TTWO) and Microsoft (MSFT).
FOX 21st Century Fox
$32.97

-0.8 (-2.37%)

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.
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.
10/30/17
OTRG
10/30/17
UPGRADE
OTRG
Positive
21st Century Fox upgraded to Positive from Mixed at OTR Global
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.
FOXA 21st Century Fox
$33.30

-0.88 (-2.57%)

TM Toyota
$124.45

1.06 (0.86%)

09/21/17
RBCM
09/21/17
NO CHANGE
RBCM
Nvidia likely to continue partnering with Tesla, says RBC Capital
After CNBC and other media outlets reported that Tesla (TSLA) would work with AMD (AMD) to improve its self-driving car chips, RBC Capital analyst Mitch Steves expects Nvidia to continue to work with Tesla and remain the dominant chip provider to the automaker. He expects "similar dynamics" to play out in the data center space, with AMD "winning some share" in the sector, and Nvidia "remaining as the de-facto standard and market share leader." He notes that Toyota (TM) and Uber both use Nvidia's technology, and he does not expect the loss of share at Tesla to impact the chip maker over the long-term. He keeps an Outperform rating on Nvidia.
10/04/17
10/04/17
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. Toyota (TM) upgraded to Buy from Neutral at Citi with analyst Arifumi Yoshida saying he believes Toyota's market share in the U.S. is recovering and thinks its development trends in all-solid-state batteries can drive multiple expansion. 2. Sanchez Energy (SN) upgraded to Neutral from Sell at Seaport Global with analyst Mike Kelly citing valuation. 3. Jack in the Box (JACK) upgraded to Outperform from Market Perform at Telsey Advisory with analyst Bob Derrington saying the company is "increasing its focus" on "improving its business trends." 4. Lennar (LEN) upgraded to Buy from Neutral at MKM Partners with analyst Megan McGrath saying she believes that its margins are stabilizing. 5. Dollar Tree (DLTR) upgraded to Buy from Neutral at Cleveland Research with analyst Scott Bender saying checks indicate Family Dollar trends have improved "noticeably" in the third quarter driven by a combination of company specific initiatives including remodels, merchandising changes, and operational improvements, and a general improvement in dollar channel sales trends. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/17
SBSH
10/04/17
UPGRADE
SBSH
Buy
Toyota upgraded to Buy from Neutral at Citi
Citi analyst Arifumi Yoshida upgraded Toyota Motor to Buy and raised his price target for the shares to 8,800 yen from 6,800 yen. The analyst believes Toyota's market share in the U.S. is recovering and thinks its development trends in all-solid-state batteries can drive multiple expansion.
08/24/17
RBCM
08/24/17
NO CHANGE
RBCM
Demand for Nvidia gaming chips remains strong, says RBC Capital
After conducting checks and reviewing Nvidia's (NVDA) 10-Q, RBC Capital analysts Mitch Steves and Amit Daryanani say that demand for Nvidia's gaming chips "remains healthy" in the midst of strong demand from crypto-currency miners. The analysts add that the company's new deal with Toyota (TM) should boost its selling volumes in 2018-2019, and cause its average selling prices to rise towards the end of that period. They add that sales of the company's Volta chip "are beginning to ramp." The analysts keep an Outperform rating on Nvidia.
SFTBY SoftBank
$41.62

-0.02 (-0.05%)

07/31/17
JPMS
07/31/17
NO CHANGE
Target $450
JPMS
Overweight
Charter offer would likely have to be at least $500 per share, says JPMorgan
JPMorgan analyst Philip Cusick believes SoftBank (SFTBY) is one of the few companies that could offer a big enough price to take control of Charter Communications (CHTR). While a deal is not very likely, Softbank Chairman Masayoshi Son "is never to be counted out as a buyer," Cusick tells investors in a research note. He believes a Charter acquisition offer would likely have to be in the $500 per share or higher range. Charter shares in premarket trading are up $31.74 to $402 after the Wall Street Journal reported Friday night that SoftBank has interest in merging the company with Sprint. Cusick estimates annual synergies between Sprint (S) and Charter could be around $2B, with minimal cost to integrate versus a Sprint and T-Mobile (TMUS) merger "which would have more eventual cost savings but cost much more to integrate." A Sprint and Charter deal would not have a difficult regulatory review, the analyst believes. Cusick adds that if Charter looked like it was going to sell to Softbank, Comcast (CMCSA) would have to decide if it ever did want to buy Charter and "move more quickly with an even bigger premium."
11/06/17
SBSH
11/06/17
NO CHANGE
Target $75
SBSH
Buy
Citi trims T-Mobile, Sprint targets after merger talks cease
Citi analyst Michael Rollins lowered his price target for Buy-rated T-Mobile (TMUS) to $75 from $77 and for Neutral-rated Sprint (S) to $7.50 from $9.00 after the companies ceased talks to merge. He sees T-Mobile as "very comfortable" with its operating momentum and improving financial position and SoftBank (SFTBY) and Sprint (S) taking a more aggressive posture to pursue strategic partners. The analyst would not be surprised if SoftBank and Deutsche Telekom (DTEGY) revisit the merger talks in 6-12 months should Sprint and T-Mobile not find compelling strategic partners. Further, Rollins expects tower stocks like American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI) to trade higher on expectations for greater capital expenditures now that the merger talks are over.
01/23/17
JPMS
01/23/17
NO CHANGE
JPMS
JPMorgan says odds of T-Mobile, Sprint merger have 'increased dramatically'
JPMorgan analyst Philip Cusick believes T-Mobile (TMUS), Sprint (S) and DISH (DISH) are in play and that a combination of any of them could happen. In addition, each of the three companies could become targets for larger wireless players, domestic cable companies, Internet giants and foreign buyers, Cusick tells investors in a research note. He thinks the likelihood for a Sprint and T-Mobile tie-up in the near term has "increased dramatically" since September, from 10% to over 35%, including now a greater than 50% chance of announcement and 70% chance of approval if announced. Parents Softbank (SFTBY) and Deutsche Telekom (DTEGY) have increased their preference for a deal in the last six months and that the value of $5B of annual synergies "is enough to smooth over most disagreements on relative value," Cusick contends. He sees the most likely case as Sprint/Softbank buying T-Mobile, but feels a more even merger or even Deutsche Telekom/T-Mobile paying a premium to retain a majority of the combined company is possible.
08/16/17
SBSH
08/16/17
NO CHANGE
SBSH
Citi still views Sprint, T-Mobile merger as most likely
Citi analysts Michael Rollins and Jason Bazinet continue to expect 2017 to be the year of mergers and acquisitions in the Wireless space. Since attending SoftBank's (SFTBY) Q2 Investor event and meeting with T-Mobile US (TMUS) management, the analysts still view a merger scenario between Sprint (S) and T-Mobile as the most likely to emerge in the Wireless space. "We are getting the increasing sense from multiple companies in the category that the regulatory environment may be as good as it gets," Rollins and Bazinet write in a research note.
GGP GGP
$23.43

0.03 (0.13%)

11/13/17
EVER
11/13/17
DOWNGRADE
EVER
In Line
GGP downgraded to In Line from Outperform at Evercore ISI
11/13/17
SDLR
11/13/17
NO CHANGE
SDLR
GGP could be worth $28+ in a takeout, says Sandler O'Neill
Sandler O'Neill views Brookfield's (BAM) $23/share offer for GGP (GGP) as an opening bid but believes it faces an uphill battle with independent shareholders to convince them its a fair price. The firm's analyst said Brookfield has its 35% stake of GGP on the books at $30/share and believes independent shareholders should demand a NAV premium north of $28/share.
11/13/17
EVER
11/13/17
DOWNGRADE
EVER
In Line
GGP downgraded to In Line on valuation at Evercore ISI
As previously reported, Evercore ISI downgraded GGP (GGP) to In Line from Outperform and maintained a $23 price target. Analyst Steve Sakwa said shares are up on takeover speculation and risk/reward is now more balanced.
09/26/17
JPMS
09/26/17
UPGRADE
Target $25
JPMS
Overweight
GGP upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Michael Mueller upgraded GGP Inc. to Overweight with an unchanged price target of $25. Retail trends are beginning to improve and the shares trade at an attractive valuation, the analyst contends.
BPY Brookfield Property
$21.61

0.08 (0.37%)

11/13/17
ADAM
11/13/17
DOWNGRADE
ADAM
Hold
Brookfield Property downgraded to Hold from Buy at Canaccord
HCA HCA Healthcare
$84.84

-0.22 (-0.26%)

11/30/17
JPMS
11/30/17
UPGRADE
Target $96
JPMS
Overweight
HCA Healthcare upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Gary Taylor upgraded HCA Healthcare to Overweight and raised his price target for the shares to $96 from $75. The analyst is making a "relatively short-term call" that the currently proposed U.S. corporate tax reform would disproportionately benefit HCA. He believes passage of corporate tax reform could boost HCA's current 2019 consensus earnings per share estimates by 30% from $8.06 to nearly $10.50. Estimate raises could expand the stock's valuation multiple and drive the shares up by 22%-35%, Taylor tells investors in a research. Further, he sees limited near-term downside risk in the shares in the absence of tax reform.
11/21/17
WBLR
11/21/17
INITIATION
WBLR
Market Perform
HCA Healthcare initiated with a Market Perform at William Blair
William Blair started HCA Healthcare with a Market Perform rating.
11/03/17
FBCO
11/03/17
INITIATION
Target $95
FBCO
Outperform
HCA Healthcare initiated with an Outperform at Credit Suisse
Credit Suisse analyst A.J. Rice started HCA Healthcare with an Outperform rating and $95 price target.
11/30/17
11/30/17
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. The Medicines Co. (MDCO) upgraded to Outperform from Perform at Oppenheimer with analyst Jay Olson citing the company's "successful transformation" into a pure-play research and development biotech company focused entirely on inclisiran, an siRNA PCSK9 inhibitor. 2. Boston Scientific (BSX) upgraded to Buy from Neutral at BTIG with analyst Sean Lavin saying his prior Neutral rating was based on concerns that Lotus timelines were too aggressive and that the valve may never make it to the U.S. market. 3. Melinta Therapeutics (MLNT) upgraded to Hold from Sell at Gabelli. 4. Canadian National (CNI) upgraded to Buy on valuation at TD Securities with analyst Cherilyn Radbourne citing recent share price weakness. 5. HCA Healthcare (HCA) upgraded to Overweight from Neutral at JPMorgan with analyst Gary Taylor saying he is making a "relatively short-term call" that the currently proposed U.S. corporate tax reform would disproportionately benefit HCA. 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

VRSK

Verisk Analytics

$97.50

0.83 (0.86%)

10:48
01/16/18
01/16
10:48
01/16/18
10:48
Conference/Events
Verisk Analytics management to meet with William Blair »

Meeting to be held in New…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jan

SSW

Seaspan

$7.28

-0.001 (-0.01%)

10:48
01/16/18
01/16
10:48
01/16/18
10:48
Conference/Events
Seaspan management to meet with Seaport Global »

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  • 17

    Jan

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    Jan

C

Citi

$77.37

0.53 (0.69%)

10:48
01/16/18
01/16
10:48
01/16/18
10:48
Hot Stocks
Breaking Hot Stocks news story on Citi »

Citi sees cards revenue…

03/08/13
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  • 16

    Jan

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    Jan

SPCB

SuperCom

$3.66

-0.03 (-0.81%)

10:47
01/16/18
01/16
10:47
01/16/18
10:47
Conference/Events
SuperCom management to meet with Drexel Hamilton »

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03/06/13
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  • 17

    Jan

EIGR

Eiger BioPharmaceuticals

$16.00

0.65 (4.23%)

10:46
01/16/18
01/16
10:46
01/16/18
10:46
Recommendations
Eiger BioPharmaceuticals analyst commentary  »

Eiger BioPharmaceuticals…

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  • 12

    Feb

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    Feb

  • 08

    Apr

KBH

KB Home

$36.03

-0.95 (-2.57%)

10:46
01/16/18
01/16
10:46
01/16/18
10:46
Conference/Events
KB Home management to meet with JMP Securities »

Meeting to be held in San…

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  • 17

    Jan

JKHY

Jack Henry

$123.38

0.7 (0.57%)

10:45
01/16/18
01/16
10:45
01/16/18
10:45
Conference/Events
Jack Henry management to meet with Oppenheimer »

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03/06/13
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  • 17

    Jan

10:45
01/16/18
01/16
10:45
01/16/18
10:45
Conference/Events
Wolfe Research utilities analyst to hold a luncheon meeting »

Senior Utilities Analyst…

ECL

Ecolab

$137.42

-0.26 (-0.19%)

10:44
01/16/18
01/16
10:44
01/16/18
10:44
Conference/Events
Ecolab management to meet with Jefferies »

Meetings to be held in…

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03/06/13
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  • 17

    Jan

  • 18

    Jan

  • 20

    Feb

CXP

Columbia Property

$21.93

0.08 (0.37%)

10:43
01/16/18
01/16
10:43
01/16/18
10:43
Conference/Events
Columbia Property management to meet with JMP Securities »

Meetings to be held in…

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03/06/13
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  • 17

    Jan

  • 18

    Jan

  • 15

    Feb

TWTR

Twitter

$24.96

-0.45 (-1.77%)

, FB

Facebook

$179.37

-8.4 (-4.47%)

10:43
01/16/18
01/16
10:43
01/16/18
10:43
Hot Stocks
Former bear says buy Twitter as growth returns, takeover potential rises »

Aegis analyst Victor…

TWTR

Twitter

$24.96

-0.45 (-1.77%)

FB

Facebook

$179.37

-8.4 (-4.47%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 17

    Jan

  • 23

    Jan

  • 31

    Jan

  • 07

    Feb

  • 08

    Feb

FB

Facebook

$179.37

-8.4 (-4.47%)

, SNAP

Snap

$13.53

-0.585 (-4.15%)

10:41
01/16/18
01/16
10:41
01/16/18
10:41
Conference/Events
FBN Securities media analysts to hold a group luncheon »

Analysts host a Group…

FB

Facebook

$179.37

-8.4 (-4.47%)

SNAP

Snap

$13.53

-0.585 (-4.15%)

TWTR

Twitter

$24.96

-0.455 (-1.79%)

GOOG

Alphabet

$1,122.26

16.74 (1.51%)

GOOGL

Alphabet Class A

$1,130.65

18.6 (1.67%)

LNKD

Acquired by MSFT

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 17

    Jan

  • 23

    Jan

  • 31

    Jan

  • 01

    Feb

  • 01

    Feb

  • 06

    Feb

  • 07

    Feb

  • 08

    Feb

  • 18

    Mar

GE

General Electric

$18.14

-0.625 (-3.33%)

10:40
01/16/18
01/16
10:40
01/16/18
10:40
Periodicals
GE seen as likely to embrace company breakup, CNBC reports »

General Electric is seen…

03/08/13
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  • 16

    Jan

  • 24

    Jan

HMNY

Helios and Matheson

$7.64

-0.42 (-5.21%)

10:40
01/16/18
01/16
10:40
01/16/18
10:40
Hot Stocks
MoviePass names Natasha Mulla CMO »

MoviePass, movie-theater…

03/08/13
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03/06/13
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EEM

MSCI Emerging Markets Index

$49.79

0.275 (0.56%)

10:40
01/16/18
01/16
10:40
01/16/18
10:40
Options
Notable interest in iShares Emerging Markets Fund options »

Notable interest in…

03/08/13
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C

Citi

$77.54

0.695 (0.90%)

10:38
01/16/18
01/16
10:38
01/16/18
10:38
Hot Stocks
Citi CFO says U.S. Retail Services growing slightly above outlook »

CFO John Gerspach said…

03/08/13
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  • 16

    Jan

  • 24

    Jan

VPG

Vishay Precision

$27.30

0.55 (2.06%)

10:38
01/16/18
01/16
10:38
01/16/18
10:38
Conference/Events
Vishay Precision management to meet with Sidoti »

Meeting to be held in…

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  • 16

    Jan

  • 17

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  • 29

    Mar

SITE

SiteOne Landscape

$71.28

-0.2 (-0.28%)

10:37
01/16/18
01/16
10:37
01/16/18
10:37
Conference/Events
SiteOne Landscape management to meet with William Blair »

Meetings to be held in…

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  • 16

    Jan

  • 17

    Jan

  • 18

    Jan

IWM

iShares Trust Russell 2000 Index Fund

$159.21

1.05 (0.66%)

, RUT

Russell 2000 Index

10:36
01/16/18
01/16
10:36
01/16/18
10:36
Technical Analysis
Technical View: Russell 2000 Index crosses above 1600, new life high »

The Russell 2000 (RUT)…

IWM

iShares Trust Russell 2000 Index Fund

$159.21

1.05 (0.66%)

RUT

Russell 2000 Index

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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LPTH

LightPath

$2.42

0.09 (3.86%)

10:36
01/16/18
01/16
10:36
01/16/18
10:36
Conference/Events
LightPath management to meet with Roth Capital »

Meeting to be held in New…

03/08/13
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  • 16

    Jan

LOW

Lowe's

$104.00

3.14 (3.11%)

10:35
01/16/18
01/16
10:35
01/16/18
10:35
Conference/Events
Lowe's management to meet with UBS »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Feb

GE

General Electric

$18.17

-0.595 (-3.17%)

10:35
01/16/18
01/16
10:35
01/16/18
10:35
Periodicals
GE breakup likely, announcement may come this Spring, CNBC reports »

CNBC's David Faber…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 16

    Jan

  • 24

    Jan

C

Citi

$77.56

0.715 (0.93%)

10:33
01/16/18
01/16
10:33
01/16/18
10:33
Hot Stocks
Breaking Hot Stocks news story on Citi »

Citi CFO: Trading-related…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 16

    Jan

  • 24

    Jan

10:33
01/16/18
01/16
10:33
01/16/18
10:33
Conference/Events
UBS leisure analyst holds an analyst/industry conference call »

Leisure Analyst Farley…

ITRN

Ituran

$35.30

1.25 (3.67%)

10:33
01/16/18
01/16
10:33
01/16/18
10:33
Conference/Events
Ituran management to meet with Jefferies »

Meeting to be held in New…

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

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  • 16

    Jan

  • 17

    Jan

  • 17

    Jan

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