Breaking News Instant updates and real-time market news.

T

AT&T

$37.97

-0.07 (-0.18%)

, CHTR

Charter

$329.00

-0.99 (-0.30%)

13:12
12/14/17
12/14
13:12
12/14/17
13:12

FCC repeals net neutrality in 3-2 vote along party lines

This afternoon, after being delayed by a bomb threat, the Federal Communications Commission, or FCC, voted to dismantle so-called "net neutrality" rules. These rules regulated the Internet like a utility and prohibited internet service providers, or ISPs, from blocking or charging websites for higher quality delivery to consumers. The FCC said in a recent statement that FCC chairman Ajit Pai "has been focused on making the agency more transparent, closing the digital divide, and updating the Commission's rules to reflect the modern communications marketplace." But supporters of net neutrality argue that without it, ISPs will become the gatekeepers of the internet, controlling sites' access to the Internet. However, those opposed to net neutrality, which include the telecom industry, argue the existing regulations stifle broadband investments and innovation. SET TO BENEFIT: ISPs including AT&T (T), Charter Communications (CHTR), Comcast Corp. (CMCSA, CMCSK), and Verizon (VZ) will all benefit from this decision, a decision they have spent tens of millions of dollars lobbying toward. MAY HARM: Content providers, such as Netflix (NFLX), Google (GOOG, GOOGL), Amazon (AMZN), Facebook (FB), and Twitter (TWTR), have all lobbied in favor of net neutrality. Internet TV providers such as Dish Network's (DISH) Sling TV, Sony's (SNE) Playstation Vue, Google's YouTube TV, may be affected, as most ISPs are also cable providers that compete directly against Internet TV. Startups may also be negatively impacted, as they may find it harder to compete with the larger players without the open Internet rules. Note that Airbnb, Foursquare, Etsy (ETSY), and hundreds of other smaller companies released a statement on net neutrality last month, saying, "We, the undersigned businesses and trade associations, urge the FCC to maintain the current net neutrality rules and Title II classification of broadband internet. The current rules provide the protections necessary to protect net neutrality and ensure the internet remains a free and open marketplace that encourages innovation and supports robust competition." POTENTIAL COURT BATTLE: Even though net neutrality was repealed, the ruling may be challenged in court. A senior FCC official said in November, "Whenever we do anything big and major, people go to court. I certainly would not rule that out."

T

AT&T

$37.97

-0.07 (-0.18%)

CHTR

Charter

$329.00

-0.99 (-0.30%)

CMCSA

Comcast

$38.58

-0.93 (-2.35%)

CMCSK

Comcast

$58.00

(0.00%)

VZ

Verizon

$52.53

-0.365 (-0.69%)

NFLX

Netflix

$187.86

2.13 (1.15%)

GOOG

Alphabet

$1,040.61

0.13 (0.01%)

GOOGL

Alphabet Class A

$1,051.39

2.62 (0.25%)

AMZN

Amazon.com

$1,164.13

-0.95 (-0.08%)

FB

Facebook

$178.30

1.34 (0.76%)

TWTR

Twitter

$22.54

0.875 (4.04%)

DISH

Dish

$48.99

-0.64 (-1.29%)

SNE

Sony

$44.60

-0.055 (-0.12%)

ETSY

Etsy

$20.16

-0.05 (-0.25%)

  • 11

    Jan

  • 07

    Feb

  • 18

    Mar

T AT&T
$37.97

-0.07 (-0.18%)

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.
12/14/17
HDLY
12/14/17
NO CHANGE
HDLY
Hilliard Lyons Top Ideas for Year-End 2017
Hilliard Lyons Research named its Top Ideas for Year-End 2017. They are: Pinnacle Financial (PNFP), Disney (DIS), J.M. Smucker (SJM), NextEra Energy (NEE), Zoetis (ZTS), Leggett & Platt (LEG), South Jersey Industries (SJI), Tanger Factory (SKT), Physicians Realty Trust (DOC), VMware (VMW), AT&T (T), and American Water (AWK).
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.
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.
CHTR Charter
$329.00

-0.99 (-0.30%)

12/13/17
BUCK
12/13/17
INITIATION
Target $415
BUCK
Buy
Charter initiated with a Buy at Buckingham
Buckingham analyst Matthew Harrigan Charter with a Buy and $415 price target saying management is focused on Time Warner Cable and Bright House operations and believes buyback activity can create superior long-term financial engineering upside relative to immediate M&A.
11/14/17
RHCO
11/14/17
NO CHANGE
Target $18
RHCO
Buy
WideOpenWest price target lowered to $18 from $24 at SunTrust
SunTrust analyst Greg Miller lowered his price target on WideOpenWest to $18 following Q3 earnings miss, saying tighter competition and the impact from Hurricane Irma drove the shortfall. The analyst says that while the company's pending fiber network sale improves liquidity and supports Edge-Out penetration growth, competition from Charter's (CHTR) Spectrum and AT&T's (T) DirecTV offers exacerbate the decline. Miller maintains a Buy rating on the stock.
12/04/17
LEHM
12/04/17
DOWNGRADE
LEHM
Underweight
Charter downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Kannan Venkateshwar downgraded Charter Communications to Underweight as part of his downgrade of the U.S. Cable & Satellite Communications sector to Neutral. The analyst sees cable companies facing "increasing headwinds" in 2018 due to growing competitive pressure in video, slowdown in broadband growth and levered balance sheets. He views estimates and valuations in the space as optimistic and has a $283 price target for Charter shares.
12/04/17
12/04/17
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. Old Dominion (ODFL) downgraded to Sell from Hold at Deutsche Bank with analyst Amit Mehrotra saying the shares screen as the most expensive within Transports on a relative value basis. 2. Charter (CHTR) downgraded to Underweight from Equal Weight at Barclays with analyst Kannan Venkateshwar saying he sees cable companies facing "increasing headwinds" in 2018 due to growing competitive pressure in video, slowdown in broadband growth and levered balance sheets. 3. Nokia (NOK) downgraded to Underperform from Neutral at Exane BNP Paribas. 4. Public Storage (PSA) was downgraded to Underperform from Neutral and Corporate Office Properties (OFC) was downgraded to Neutral from Buy at BofA/Merrill. 5. Warrior Met Coal (HCC) downgraded to Sector Perform from Outperform at RBC Capital with analyst Sam Crittenden saying the stock price has run up 76% since the April IPO and now encounters potential near term headwinds of possible lower fourth quarter production based on the execution risk of three long wall moves in the quarter. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CMCSA Comcast
$38.58

-0.93 (-2.35%)

12/13/17
RILY
12/13/17
DOWNGRADE
Target $18
RILY
Neutral
TiVo downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Eric Wold downgraded TiVo (TIVO) to Neutral and lowered his price target for the shares to $18 from $24. The analyst has heightened concerns around the company's dispute with Comcast (CMCSA). The cable giant has worked around the ITC ruling, which opens the door to potentially working to avoid an ongoing license, Wold tells investors in a research note.
11/22/17
PIPR
11/22/17
NO CHANGE
Target $25
PIPR
Overweight
TiVo ITC win raises odds of Comcast renewal, says Piper Jaffray
Piper Jaffray analyst Michael Olson said the International Trade Commission ruling in favor of TiVo (TIVO) increases the likelihood that a renewal deal with Comcast (CMCSA) will be reached, but he does not have it built into his estimates until early 2018. He maintains an Overweight rating and $25 price target on TiVo shares, which are up nearly 13% to $19.90 in pre-market trading.
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.
12/11/17
BTIG
12/11/17
NO CHANGE
BTIG
BTIG says Comcast could pay 'significantly' more for Fox assets than Disney
BTIG analyst Richard Greenfield said earlier in a note to investors that he believes Comcast (CMCSA) could pay "significantly more" for the assets that Fox (FOXA) is reportedly looking to sell than could Disney (DIS). He also believes Comcast could have a better chance of securing regulatory approval for a deal if they are willing to spin off all of the regional sports networks that a combined entity would own.
CMCSK Comcast
$58.00

(0.00%)

11/10/17
COWN
11/10/17
NO CHANGE
Target $30
COWN
Outperform
Court win versus Comcast could lift TiVo shares $6, says Cowen
Cowen analyst Robert Stone noted the FTC has extended its target date for completion of the TiVo (TIVO) and Comcast (CMCSA) investigation to November 16. The analyst believes TiVo will prevail and he believes a win could add $6 to its current valuation. Stone also believes Tivo remains significantly undervalued and he reiterated his Outperform rating and $30 price target on TiVo shares.
11/13/17
PIPR
11/13/17
NO CHANGE
PIPR
Overweight
TiVo CEO selection removes one uncertainty, says Piper Jaffray
Piper Jaffray analyst Michael Olson noted that TiVo's (TIVO) newly-named CEO Enrique Rodriguez has a "strong industry background" including experience launching and improving various entertainment platforms. Olson added that the CEO selection removes one uncertainty, but the status of a renewal at Comcast (CMCSA) remains investors' primary focus. He keeps an Overweight rating on TiVo shares.
VZ Verizon
$52.53

-0.365 (-0.69%)

12/12/17
12/12/17
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. Verizon (VZ) upgraded to Buy from Neutral at Nomura Instinet by analyst Jeffrey Kvaal, who said that better visibility into subscriber growth, rising average revenue per user and cost control will drive earnings growth in 2018. Further, he believes tax reform should also boost the company's earnings. The analyst thinks signs of easing competition may also spur multiple expansion. 2. Northrop Grumman (NOC) upgraded to Overweight from Neutral at JPMorgan by analyst Seth Seifman, who said that more profitable F-35 growth will accelerate in 2018 while management's initial take on the Orbital ATK (OA) deal, including synergies, will prove conservative. He called Northrop his top defense prime pick. 3. Activision Blizzard (ATVI) upgraded to Buy from Neutral at Goldman Sachs by analyst Christopher Merwin, who recommends owning this discounted "high-quality" asset ahead of accelerating earnings growth over the next 2-3 years. Merwin raised Activision's 2019 and 2020 estimates to reflect a robust pipeline of games including Diablo, Overwatch 2, and a Blizzard mobile title, which he does not believe Street estimates fully reflect. 4. Abbott (ABT) upgraded to Outperform from Market Perform at BMO Capital by analyst Joanne Wuensch, who said she is placing the stock on her "Top Picks" list, noting that 2018 will be the "year of execution" with several product launches ahead and acquisitions of Alere and St. June in the past. 5. HCA Healthcare (HCA), Tenet (THC) and Universal Health (UHS) upgraded to Buy from Neutral at Citi by analyst Ralph Giacobbe, who cited a more constructive view on the hospital space. The analyst sees a better volume backdrop in 2018 and low expectations for the sector. He believes hospital stocks offer an attractive upside scenario. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/14/17
12/14/17
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. Verizon (VZ) downgraded to Hold on valuation at HSBC with analyst Sunil Rajgopal saying the recent rally limits upside. 2. Blue Buffalo Pet Products (BUFF) downgraded to Hold from Buy at Deutsche Bank with analyst Faiza Alwy citing valuation concerns as the stock is up 35% over the last six months. 3. Nielsen (NLSN) downgraded to Underweight from Equal Weight at Barclays with analyst Manav Patnaik saying he sees challenging end markets for the company as well as credibility concerns following a year of "poor" execution. 4. Valeant (VRX) downgraded to Underweight from Neutral at JPMorgan with analyst Chris Schott saying he sees better opportunities in the sector following the recent rally in the shares. 5. Pier 1 Imports (PIR) downgraded to Sell from Hold at Gordon Haskett with analyst Chuck Grom citing the third quarter miss and lowered guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/12/17
NOMU
12/12/17
UPGRADE
Target $61
NOMU
Buy
Verizon upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal upgraded Verizon Communications to Buy and raised his price target for the shares to $61 from $47. The stock closed yesterday up 75c to $51.84. Better visibility into subscriber growth, rising average revenue per user and cost control will drive earnings growth in 2018, Kvaal tells investors in a research note. Further, he believes tax reform should also boost the company's earnings. The analyst thinks signs of easing competition may also spur multiple expansion.
12/14/17
HSBC
12/14/17
DOWNGRADE
Target $52
HSBC
Hold
Verizon downgraded to Hold on valuation at HSBC
HSBC analyst Sunil Rajgopal downgraded Verizon to Hold from Buy saying the recent rally limits upside and maintained a $52 price target.
NFLX Netflix
$187.86

2.13 (1.15%)

12/06/17
PIPR
12/06/17
NO CHANGE
Target $240
PIPR
Overweight
Piper sees high likelihood of Q4 subscriber upside for Netflix
Piper Jaffray analyst Michael Olson says his analysis of Netflix search trends suggests upside potential for both international and domestic subscriber in Q4. The analyst models 9.3% year-over-year domestic sub growth in Q4 while his search index points to 14.8% growth. For international, Olson models 38.7% year-over-year sub growth while his index points to 54.5% growth. The index is directionally positive and shows a high likelihood of Q4 subscriber upside for Netflix, Olson tells investors in a research note. He maintains an Overweight rating on the shares with a $240 price target.
12/05/17
EVER
12/05/17
INITIATION
Target $210
EVER
In Line
Netflix initiated with an In Line at Evercore ISI
Evercore ISI analyst Anthony DiClemente initiated Netflix with In Line rating and a price target of $210. DiClemente says that while the growth of internet TV has been massive and the company has had a "huge head start", he questions whether the subscription price increase can drive top-side growth given that US penetration is maturing. The analyst also calls valuation "the elephant in the room", with his bear case scenario analysis putting stock price as low as $130.
12/13/17
BTIG
12/13/17
NO CHANGE
BTIG
Disney, Fox deal may be a near-term positive for Netflix, BTIG says
Commenting on Disney's (DIS) deal with Fox (FOX; FOXA) and its potential implications, BTIG's Richard Greenfield notes that the knee jerk reaction he hears across the investment world is the former is buying the later to build their "Netflix killer." Greenfield "strongly disagrees" with this viewpoint, saying that if Disney wanted to build a Netflix competitor it should be eliminating its stock buyback and aggressively investing in content that has no legacy media strings attached. Further, the Disney/Fox transaction is likely a near-to-intermediate term positive for Netflix, he argues, adding that both companies will be tied up in a 12 month or more regulatory review process with thousands of executives in limbo pending the closing of the transaction.
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.
GOOG Alphabet
$1,040.61

0.13 (0.01%)

12/13/17
COWN
12/13/17
NO CHANGE
Target $2170
COWN
Outperform
Priceline named a best idea for 2018 at Cowen
Cowen analyst Kevin Kopelman believes Priceline (PCLN) is not shifting away from Google (GOOG, GOOGL). The company is largely aligned with the search giant and should continue to benefit from underlying growth in travel and the shift to online and mobile, Kopelman tells investors in a research note. He believes investor perception has Priceline both slowing down and shifting away from Google. The analyst calls Priceline a top idea for 2018 with an Outperform rating and $2,170 price target.
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.
12/08/17
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.
12/06/17
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
$1,051.39

2.62 (0.25%)

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.
AMZN Amazon.com
$1,164.13

-0.95 (-0.08%)

12/14/17
LOOP
12/14/17
NO CHANGE
Target $4
LOOP
Hold
Pier 1 Imports Q3 performance 'roundly disappointing', says Loop Capital
Loop Capital analyst Anthony Chukumba keeps his Hold rating and $4 price target on Pier 1 Imports (PIR) after a "roundly disappointing" Q3 earnings report that saw comps fall, gross margins contract, and Q4 outlook come well short of expectations. Chukumba says he is "increasingly worried about the relevance" of the company amid rising online competition, particularly as Amazon (AMZN) becomes "more serious about the category". With the stock down over 25% in the pre-market, the analyst says a Hold rating remains appropriate.
12/14/17
BERN
12/14/17
NO CHANGE
Target $65
BERN
Outperform
Target acquisition of Shipt a step in right direction, says Bernstein
Bernstein analyst Brandon Fletcher notes that Target (TGT) announced it would acquire Shipt for $550M, and plans to roll out same day delivery to the majority of its stores in 2018 and will include all major product categories in 2019. While the analyst believes this deal is unlikely to prove the final game-changing solution that puts Target in the game against Amazon (AMZN) and Wal-Mart (WMT), he sees it as a step in the right direction. Fletcher reiterates an Outperform rating and $65 price target on Target's shares.
12/14/17
MSCO
12/14/17
NO CHANGE
Target $1250
MSCO
Overweight
Amazon Prime subscription growth may be slowing in U.S., says Morgan Stanley
Morgan Stanley analyst Brian Nowak noted his firm's survey indicated that 40% of those surveyed in the U.S. identified themselves as being Prime members, which is essentially flat with the firm's survey in the fourth quarter of 2016 and may indicate that U.S. Prime subscriber growth could be plateauing. However, he also notes that Prime retention and intent to sign up remain high and Amazon's global subscription revenue growth is accelerating. Nowak, who calls U.S. Prime subscriber trends "important to monitor," keeps an Overweight rating and $1,250 price target on Amazon shares.
12/14/17
MKMP
12/14/17
NO CHANGE
Target $77
MKMP
Buy
Target price target raised to $77 from $66 at MKM Partners
MKM Partners analyst Patrick McKeever raised his price target on Target (TGT) to $77 after its acquisition of Shipt for $550M. McKeever says the deal makes him more positive on Target's ability to compete with Amazon (AMZN) and Walmart (WMT) over the longer term. The analyst notes that while Target stock performance has recently improved along with other retail names, shares still trade at 14.2-times forward earnings estimate relative to Walmart's 20.8-times. McKeever keeps his Buy rating on Target.
FB Facebook
$178.30

1.34 (0.76%)

TWTR Twitter
$22.54

0.875 (4.04%)

11/30/17
MKMP
11/30/17
NO CHANGE
Target $21.5
MKMP
Neutral
Twitter price target raised to $21.50 from $18 at MKM Partners
MKM Partners analyst Rob Sanderson raised his price target on Twitter to $21.50 based on his new 2019 estimates. Sanderson says that while the company shows signs of a turnaround, valuation already reflects the expected return of mid-teens growth or higher. The analyst keeps his Neutral rating, noting that his 14-times multiple on 2019 EBITDA estimate is a "generous valuation" that recognizes the "uniqueness of the Twitter network" and the ongoing efforts by management to execute a "difficult turnaround".
12/11/17
RHCO
12/11/17
UPGRADE
Target $58
RHCO
Buy
Trade Desk upgraded to Buy at SunTrust on post-Q3 stock pullback
As noted earlier, SunTrust analyst Youssef Squali upgraded Trade Desk (TTD) to Buy from Hold and kept his $58 price target after a 30% pullback in the stock price following Q3 earnings. Squali cites a reset of risk-reward profile for Q4 based on the current valuation and 20% short interest, the benefits of the new Twitter (TWTR) partnership announced last week, and "under-appreciated" benefits from the anticipated tax reform legislation.
12/05/17
EVER
12/05/17
INITIATION
Target $21
EVER
In Line
Twitter initiated with an In Line at Evercore ISI
As reported earlier, Evercore ISI analyst Anthony DiClemente initiated Twitter with an In Line rating and a price target of $21. DiClemente notes that the stock already accounts for recovery in valuation, pricing in both a rebound in revenue growth and margin improvement. The analyst also states that there is no reason for Monthly Active User metric to accelerate its growth, though the average revenue per user potential is enhanced by the platforms's indexing. DiClemente further says that lower advertising pricing has started to attract attention, while video supports monetization efforts.
12/05/17
EVER
12/05/17
INITIATION
Target $21
EVER
In Line
Twitter initiated with an In Line at Evercore ISI
Evercore ISI analyst initiated Twitter with an In Line and $21 price target.
DISH Dish
$48.99

-0.64 (-1.29%)

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.
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.
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.
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.
SNE Sony
$44.60

-0.055 (-0.12%)

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.
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).
10/11/17
MSCO
10/11/17
DOWNGRADE
MSCO
Equal Weight
Sony downgraded to Equal Weight from Overweight at Morgan Stanley
ETSY Etsy
$20.16

-0.05 (-0.25%)

11/07/17
IFSG
11/07/17
NO CHANGE
IFSG
Etsy price target raised to $22 from $18 at IFS Securities
IFS Securities analyst Ronald Bookbinder increased his price target on Etsy to $22 from $18 and raised his FY17 and FY18 earnings per share estimates following Etsy's strong third quarter earnings results. Bookbinder believes profitability should continue to accelerate, and strong revenue growth will continue as Etsy works to drive gross merchandise sales. The analyst maintains an Outperform rating on Etsy shares.
10/04/17
PIPR
10/04/17
NO CHANGE
Target $14.5
PIPR
Neutral
Etsy shares 'meaningfully ahead' of its progress, says Piper Jaffray
After traveling with management, Piper Jaffray analyst Sam Kemp believes Etsy is "tracking to plan" with improvements to the buyer experience. The analyst, however, thinks Etsy shares are "meaningfully ahead" of the company's progress, creating an unfavorable near-term risk/reward. The stock is pricing in unrealistic expectations for 2018, which will not be met with management guides for the year, Kemp tells investors in a research note. He keeps a Neutral rating on Etsy with a $14.50 price target.
08/24/17
IFSG
08/24/17
INITIATION
Target $18
IFSG
Outperform
Etsy initiated with an Outperform at IFS Securities
IFS Securities analyst Ronald Bookbinder initiated Etsy with an Outperform rating and $18 price target.
09/06/17
DADA
09/06/17
INITIATION
Target $19
DADA
Buy
Etsy initiated with a Buy at DA Davidson
DA Davidson analyst Tom Forte initiated Etsy with a Buy and a $19 price target given expectations for strong revenue growth led by Seller Services and margin expansion driven by leverage on operating expense from higher Marketplace and Seller Services revenues.

TODAY'S FREE FLY STORIES

REX

REX American Resources

$76.62

-0.5 (-0.65%)

07:05
05/23/18
05/23
07:05
05/23/18
07:05
Earnings
REX American Resources reports Q1 EPS $1.45 vs. 69c last year »

Reports Q1 revenue…

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

See Street Research during your Free Trial

  • 23

    May

ALKS

Alkermes

$45.58

0.35 (0.77%)

07:04
05/23/18
05/23
07:04
05/23/18
07:04
Hot Stocks
Alkermes to present data on depression, schizophrenia portfolios at ASCP »

Alkermes announced that…

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

See Street Research during your Free Trial

  • 23

    May

  • 31

    Jan

KOOL

Cesca Therapeutics

$0.53

0.0307 (6.14%)

07:04
05/23/18
05/23
07:04
05/23/18
07:04
Initiation
Cesca Therapeutics initiated  »

Cesca Therapeutics…

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

See Street Research during your Free Trial

NCI

Navigant Consulting

$24.00

-0.19 (-0.79%)

07:04
05/23/18
05/23
07:04
05/23/18
07:04
Hot Stocks
Navigant Consulting, Lumere announce collaboration to reduce clinical variation »

Navigant Consulting and…

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

See Street Research during your Free Trial

  • 11

    Jun

ACRX

AcelRx

$2.95

0.05 (1.72%)

07:03
05/23/18
05/23
07:03
05/23/18
07:03
Hot Stocks
Three Arch's shares of AcelRx stock acquired in deal led by Leerink Revelation »

AcelRx Pharmaceuticals…

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

See Street Research during your Free Trial

07:02
05/23/18
05/23
07:02
05/23/18
07:02
General news
MBA Mortgage Applications Composite Index data reported »

Week of 5/18 MBA Mortgage…

ANTM

Anthem

$234.12

0.52 (0.22%)

07:02
05/23/18
05/23
07:02
05/23/18
07:02
Hot Stocks
Anthem to acquire Aspire Health, financial terms not disclosed »

Anthem announced that the…

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

See Street Research during your Free Trial

MINE

Minerco Resources

$0.00

(0.00%)

07:02
05/23/18
05/23
07:02
05/23/18
07:02
Hot Stocks
Minerco acquires controlling interest in Priwen Systems »

Minerco announced the…

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

See Street Research during your Free Trial

XCRA

Xcerra

$14.01

0.31 (2.26%)

07:02
05/23/18
05/23
07:02
05/23/18
07:02
Earnings
Xcerra reports Q3 non-GAAP EPS 24c, consensus 20c »

Reports Q3 revenue…

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

See Street Research during your Free Trial

  • 29

    May

SO

Southern Company

$43.55

0.13 (0.30%)

07:01
05/23/18
05/23
07:01
05/23/18
07:01
Hot Stocks
Southern Power to sell minority stake in solar portfolio for $1.175B to GAFG »

Southern Power, a U.S.…

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

See Street Research during your Free Trial

  • 23

    May

SPX

S&P 500

$0.00

(0.00%)

07:00
05/23/18
05/23
07:00
05/23/18
07:00
Technical Analysis
S&P 500: Pivot points »

The following are the…

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

See Street Research during your Free Trial

ACM

Aecom

$33.33

-0.02 (-0.06%)

07:00
05/23/18
05/23
07:00
05/23/18
07:00
Hot Stocks
Aecom awarded 15-year $3.1B U.S. Air Force contract »

AECOM's wholly owned…

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

See Street Research during your Free Trial

AET

Aetna

$177.66

0.08 (0.05%)

, CVS

CVS Health

$65.59

0.09 (0.14%)

06:58
05/23/18
05/23
06:58
05/23/18
06:58
Recommendations
Aetna, CVS Health analyst commentary  »

Aetna risk/reward…

AET

Aetna

$177.66

0.08 (0.05%)

CVS

CVS Health

$65.59

0.09 (0.14%)

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

See Street Research during your Free Trial

  • 24

    May

  • 30

    May

FTR

Frontier Communications

$9.55

-0.06 (-0.62%)

06:58
05/23/18
05/23
06:58
05/23/18
06:58
Periodicals
Frontier in talks with bondholders after failed asset auction, Bloomberg reports »

Frontier Communications…

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

See Street Research during your Free Trial

TOL

Toll Brothers

$39.46

-4.14 (-9.50%)

06:55
05/23/18
05/23
06:55
05/23/18
06:55
Recommendations
Toll Brothers analyst commentary  »

Toll Brothers price…

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

See Street Research during your Free Trial

FB

Facebook

$183.81

-0.67 (-0.36%)

06:53
05/23/18
05/23
06:53
05/23/18
06:53
Periodicals
Facebook's upper ranks never seem to leave company, Recode reports »

Facebook's…

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

See Street Research during your Free Trial

  • 03

    Jun

TIF

Tiffany

$102.26

-0.96 (-0.93%)

06:52
05/23/18
05/23
06:52
05/23/18
06:52
Hot Stocks
Breaking Hot Stocks news story on Tiffany »

Tiffany up 7.8% after…

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

See Street Research during your Free Trial

  • 23

    May

  • 24

    May

  • 26

    Jun

REGN

Regeneron

$294.72

-1.86 (-0.63%)

, SNY

Sanofi

$38.93

0.15 (0.39%)

06:52
05/23/18
05/23
06:52
05/23/18
06:52
Recommendations
Regeneron, Sanofi analyst commentary  »

Regeneron product…

REGN

Regeneron

$294.72

-1.86 (-0.63%)

SNY

Sanofi

$38.93

0.15 (0.39%)

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

See Street Research during your Free Trial

  • 11

    Aug

  • 20

    Oct

  • 28

    Jan

MRK

Merck

$58.46

-0.1 (-0.17%)

06:52
05/23/18
05/23
06:52
05/23/18
06:52
Hot Stocks
Merck announces Keytruda met the dual primary endpoints in KEYNOTE trial »

Merck announced that the…

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

See Street Research during your Free Trial

  • 05

    Jun

  • 10

    Sep

  • 23

    Oct

TIF

Tiffany

$102.26

-0.96 (-0.93%)

06:51
05/23/18
05/23
06:51
05/23/18
06:51
Earnings
Tiffany raises FY18 EPS view to $4.50-$4.70, consensus $4.42 »

Management's…

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

See Street Research during your Free Trial

  • 23

    May

  • 24

    May

  • 26

    Jun

GDX

Market Vector Gold Miners

$22.12

-0.22 (-0.98%)

06:51
05/23/18
05/23
06:51
05/23/18
06:51
Technical Analysis
Market Vector Gold Miners: Pivot points »

The following are the…

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

See Street Research during your Free Trial

GLD

SPDR Gold Trust

$122.42

-0.05 (-0.04%)

06:50
05/23/18
05/23
06:50
05/23/18
06:50
Technical Analysis
SPDR Gold Trust: Pivot points, pivot high broken »

The following are the…

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

See Street Research during your Free Trial

NUGT

Direxion Gold Miners Bull

$24.47

-0.49 (-1.96%)

06:49
05/23/18
05/23
06:49
05/23/18
06:49
Technical Analysis
Direxion Gold Miners Bull: Pivot points »

The following are the…

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

See Street Research during your Free Trial

HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

, MSFT

Microsoft

$97.56

-0.04 (-0.04%)

06:49
05/23/18
05/23
06:49
05/23/18
06:49
Recommendations
HP Enterprise, Microsoft analyst commentary  »

HP Enterprise has…

HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

MSFT

Microsoft

$97.56

-0.04 (-0.04%)

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

See Street Research during your Free Trial

  • 30

    May

  • 03

    Jun

  • 11

    Jun

  • 10

    Jul

TIF

Tiffany

$102.26

-0.96 (-0.93%)

06:49
05/23/18
05/23
06:49
05/23/18
06:49
Hot Stocks
Tiffany announces new $1B share repurchase program »

Tiffany's board has…

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

See Street Research during your Free Trial

  • 23

    May

  • 24

    May

  • 26

    Jun

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.