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AAPL

Apple

$178.46

-0.8 (-0.45%)

, EADSY

Airbus

$28.43

0.755 (2.73%)

08:24
01/20/18
01/20
08:24
01/20/18
08:24

Week in review: How Trump's policies moved stocks

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. APPLE: On Wednesday, Apple (AAPL) announced that it plans to establish a campus in a new location, which will initially house technical support for customers. The location of this new facility will be announced later in the year. The iPhone maker expects to invest over $30B in capital expenditures in the U.S. over the next five years and create over 20,000 new jobs through hiring at existing campuses and opening a new one. The company also informed its workers that it will issue a bonus of $2,500 worth of restricted stock units following the introduction of the new U.S. tax law, according to Bloomberg. Following the news, President Donald Trump tweeted, "I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA!" 2. AIRBUS: Airbus (EADSY) CEO Tom Enders took aim at the Trump administration, accusing it of protectionism, while criticizing competitor Boeing (BA) for exploiting such sentiments, the Wall Street Journal reported earlier this week. Speaking at an event in London on Monday sponsored by the U.K.'s aerospace and defense industry trade body, Enders said that the U.S. "is no longer fighting for free trade" and claimed that the Trump administration was taking actions to close the U.S. market to foreign rivals, the report added. 3. VERIZON: In a regulatory filing on Wednesday, Verizon (VZ) said it estimates that the enactment of the Tax Cuts and Jobs Act will result in a one-time reduction in net deferred income tax liabilities of approximately $16.8B, due primarily to the re-measurement of U.S. deferred tax liabilities at the lower 21% U.S. federal corporate income tax rate. This impact will be reflected in income from continuing operations which will increase the company's earnings for Q4 and year ending December 31, 2017, but will not have any impact on the 2017 statement of cash flows. For the year ending December 31, 2017, the impact of the TCJA to Verizon's earnings per share is estimated to be approximately $4.10. 4. FAKE NEWS AWARDS: On Wednesday night, President Donald Trump released his "Highly-Anticipated 2017 Fake News Awards," listing the eleven "winners." Among the news outlets mentioned in the awards were The New York Times (NYT), Time Warner's (TWX) CNN, Disney's (DIS) ABC News, and Time (TIME). Note that Time is being acquired by Meredith Corporation (MDP), but the deal has not yet closed. Also mentioned were privately held Newsweek, which is owned by IBT Media, and the Washington Post, which is owned by Amazon (AMZN) founder Jeff Bezos. 5. BANKS: Banks continued their earnings reporting this week, with Bank of America (BAC) and Goldman Sachs (GS) each posting their results on Wednesday morning. Excluding the impact of tax legislation, both reported earnings that topped consensus forecasts. For BofA, net income of $2.4B, or 20c per diluted share, included a charge of $2.9B, or 27c per diluted share, related to the Tax Cuts and Jobs Act. Goldman Sachs, meanwhile, recorded $4.4B of income tax expense related to tax reform. Following Bank of New York Mellon's (BK) fourth quarter earnings report Thursday, the bank's executives said that nearly all of this year's benefits from the new U.S. tax law will go to technology upgrades and its workers instead of shareholders. Such moves, according to the Wall Street Journal, include a raise in the minimum wage to $15 an hour starting March 1 mostly for employees in the company's operations unit. The wage increase will affect roughly 1,000 of the bank's 52,500 employees, the Journal noted. 6. PRICE TARGETS: To reflect the new tax reform, Wells Fargo increased the price targets for Dollar Tree (DLTR), Celanese (CE), LyondellBasell (LYB), Westlake Chemical (WLKP), Monsanto (MON), Trinseo (TSE), and National Vision (EYE), while Credit Suisse upped its targets for E-Trade (ETFC), LPL Financial (LPLA), TD Ameritrade (AMTD), Charles Schwab (SCHW), Alliance Data (ADS), Fiserv (FISV), FleetCor (FLT), Blackhawk (HAWK), and MasTec (MTZ). "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.

AAPL

Apple

$178.46

-0.8 (-0.45%)

EADSY

Airbus

$28.43

0.755 (2.73%)

BA

Boeing

$337.73

-2.43 (-0.71%)

VZ

Verizon

$51.91

0.36 (0.70%)

NYT

New York Times

$21.90

1.7 (8.42%)

TWX

Time Warner

$93.36

0.39 (0.42%)

DIS

Disney

$110.59

0.17 (0.15%)

TIME

Time Inc.

$18.55

0.05 (0.27%)

AMZN

Amazon.com

$1,294.58

1.26 (0.10%)

BAC

Bank of America

$31.72

0.24 (0.76%)

GS

Goldman Sachs

$256.12

5.15 (2.05%)

BK

BNY Mellon

$56.61

1.26 (2.28%)

WLKP

Westlake Chemical Partners

$24.45

-0.1 (-0.41%)

MON

Monsanto

$120.66

1.8 (1.51%)

DLTR

Dollar Tree

$114.73

1.83 (1.62%)

CE

Celanese

$112.96

1.93 (1.74%)

LYB

LyondellBasell

$119.92

3.03 (2.59%)

TSE

Trinseo

$79.45

2.2 (2.85%)

EYE

National Vision

$43.13

1.12 (2.67%)

ETFC

E-Trade

$54.28

0.63 (1.17%)

LPLA

LPL Financial

$59.03

0.53 (0.91%)

AMTD

TD Ameritrade

$55.17

0.21 (0.38%)

SCHW

Charles Schwab

$55.48

0.15 (0.27%)

ADS

Alliance Data

$261.82

5.88 (2.30%)

FISV

Fiserv

$138.11

0.17 (0.12%)

FLT

FleetCor

$206.65

3.4 (1.67%)

HAWK

Blackhawk

$45.25

0.1 (0.22%)

MTZ

MasTec

$53.30

1.25 (2.40%)

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AAPL Apple
$178.46

-0.8 (-0.45%)

01/18/18
RSBL
01/18/18
NO CHANGE
RSBL
Buy
Rosenblatt trims iPhone estimates, but says X cuts not as severe as feared
Rosenblatt analysts noted they have not yet seen a pick up in the soft sell-through of the iPhone X following the holidays. They have trimmed their March quarter estimates for overall iPhone units to 55M from 63-64M, including lowering their March quarter view for the iPhone X to 28M units from 31-32M units. The firm has a Buy rating on Apple shares.
01/17/18
PIPR
01/17/18
NO CHANGE
PIPR
Apple cash repatriation could lead to more small acquisitions, says Piper
Piper Jaffray analyst Michael Olson said in a research note that he believe Apple's significant cash repatriation that was announced earlier on Wednesday could "lead to higher frequency of small technology acquisitions and more aggressive return of cash to shareholders." Olson is positive on Apple for FY18 and maintained an Overweight rating and $200 price target.
01/17/18
01/17/18
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. Apple (AAPL) downgraded to Neutral from Buy at Longbow with analyst Shawn Harrison saying the current iPhone cycle is "good, not great." 2. Dish (DISH) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Benjamin Swinburne saying he now sees fewer likely buyers of its assets than hoped. 3. Juniper (JNPR) downgraded to Underweight from Equal Weight at Barclays with analyst Mark Moskowitz citing a lack of service provider rebound in 2018 as well as a rising threat from Arista in routing. 4. Citi (C) was downgraded to Hold from Buy at Vertical Group and to Market Perform from Outperform at Keefe Bruyette. 5. Shell Midstream (SHLX) downgraded to Hold from Buy at Stifel with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/19/18
RSBL
01/19/18
NO CHANGE
RSBL
Buy
Apple to cut iPhone X production to ramp up various coming 'Xs,' says Rosenblatt
Rosenblatt analyst Jun Zhang believes that Apple may plan to cut iPhone X production for the June quarter by as much as 10M units, reducing output to 15M units. Also, the company could be planning to stop iPhone X production midyear as it ramps up for the various upcoming variant "Xs," added Zhang, who maintains a Buy rating on Apple shares.
EADSY Airbus
$28.43

0.755 (2.73%)

10/17/17
DBAB
10/17/17
DOWNGRADE
Target $23
DBAB
Hold
Embraer downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Myles Walton downgraded Embraer (ERJ) to Hold and cut his price target for the shares to $23 from $26. The analyst sees competitive pressures increasing for the company and its E-2 family of aircraft following the announcement that Airbus (EDASY) has agreed to partner with Bombardier on the C Series program.
10/17/17
FBCO
10/17/17
NO CHANGE
FBCO
Outperform
Bombardier, Airbus CSeries venture a net positive for both, says Credit Suisse
Credit Suisse analyst Robert Spingarn views Airbus (EADSY)/Bombardier (BDRBF) CSeries venture as a net positive for both players. Bombardier should enjoy higher sales and lower costs than it would have captured alone, he contends, adding that the deal also offers a solution to the CSeries trade dispute with Boeing (BA), with the establishment of a second final assembly line at Airbus' Alabama facility to serve U.S. customers. For Airbus, Spingarn sees this deal as a marginal positive, as it expands its product range with a good aircraft platform at a relatively small cost. He reiterates an Outperform rating for Bombardier, while raising his price target on the shares to C$3.50 from C$3.25.
09/22/17
JEFF
09/22/17
DOWNGRADE
JEFF
Hold
Airbus downgraded to Hold from Buy at Jefferies
Jefferies analyst Sandy Morris downgraded Airbus Group to Hold saying the company's EBIT in FY18 and FY19 could track significantly below consensus expectations. The analyst has a EUR 75 price target on the shares.
09/22/17
09/22/17
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. Versartis (VSAR) was downgraded to Hold from Buy at SunTrust, to Underweight from Overweight at Barclays, to Neutral from Overweight at Piper Jaffray, and to Market Perform from Outperform at Cowen. 2. Tiffany (TIF) downgraded to Neutral from Buy at Goldman Sachs with analyst Lindsay Drucker Mann saying the company's high-end categories, including engagement, wedding and solitaire jewelry, decelerated in the last two quarters. 3. Airbus (EADSY) downgraded to Hold from Buy at Jefferies with analyst Sandy Morris saying the company's EBIT in fiscal 2018 and fiscal 2019 could track significantly below consensus expectations. 4. Alcoa (AA) downgraded to Hold from Buy at Berenberg with analyst Yuriy Vlasov saying Alcoa shares are up 43% over the past six months and recommends taking profits. 5. U.S. Steel (X) was downgraded to Underperform from Market Perform while ArcelorMittal (MT) was downgraded to Market Perform from Outperform at Cowen. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BA Boeing
$337.73

-2.43 (-0.71%)

01/16/18
BARD
01/16/18
NO CHANGE
Target $433
BARD
Outperform
Boeing price target raised to $433 from $380 at Baird
Baird analyst Peter Arment raised his price target on Boeing to $433 from $380 based on his new free cash flow estimates, its valuation within historical multiples, and expectations for a solid Q4 report with guidance enhanced by tax reform. Arment reiterated his Outperform rating on Boeing shares.
01/18/18
GHSC
01/18/18
NO CHANGE
Target $430
GHSC
Buy
Boeing price target raised to $430 from $330 at Seaport Global
Seaport Global analyst Josh Sullivan raised his price target on Boeing to $430 citing an attractive price-to-free cash flow valuation of 17-times vs. 23-to-30 times among mega-cap aerospace industrial peers. Sullivan contends that Boeing's execution on Q4 deliveries and 2017 orders, strategic direction, Boeing Global Services counter-cyclical growth and tax benefits will allow it to close the valuation gap during 2018. The analyst keeps his Buy rating, adding that air travel continues to outperform the consensus view and will remain a key driver for aircraft orders.
01/16/18
WOLF
01/16/18
UPGRADE
WOLF
Outperform
Boeing upgraded to Outperform from Peer Perform at Wolfe Research
01/16/18
SBSH
01/16/18
NO CHANGE
Target $380
SBSH
Buy
Boeing price target raised to $380 from $305 at Citi
Citi analyst Jonathan Raviv raised his price target for Boeing to $380 and keeps a Buy rating on the shares. The new price target reflects the analyst's "best guess" at tax reform as well as a "richer" valuation. Boeing is still yielding 6% free cash flow on 2018 estimates, which Raviv views as "cheap" versus peers at 4%-6%.
VZ Verizon
$51.91

0.36 (0.70%)

01/16/18
MOFT
01/16/18
DOWNGRADE
MOFT
Neutral
Verizon downgraded to Neutral from Buy at MoffettNathanson
01/16/18
01/16/18
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. Under Armour (UA, UAA) downgraded to Underperform from Neutral at Macquarie with analyst Laurent Vasilescu citing weaker North America revenues, flat Connected Fitness revenues, international revenues of up 21% year-over-year, gross margin pressure, and higher SG&A assumptions. 2. Verizon (VZ) downgraded to Neutral from Buy at MoffettNathanson. 3. Lockheed Martin (LMT) and Rockwell Collins (COL) were downgraded to Market Perform from Outperform at Wells Fargo. 4. Spirit Airlines (SAVE) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi saying he believes Spirit will benefit this year from an improving demand and revenue environment, but that its higher revenue risk relative to potential competitive responses to its expected capacity growth is not fully reflected in the stock at current levels. 5. Finisar (FNSR) downgraded to Sell from Neutral at Goldman Sachs with analyst Doug Clark saying risks of oversupply and competition are heating up in the optical component landscape. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/17/18
01/17/18
DOWNGRADE
Target $55

Equal Weight
With fewer likely buyers seen, Morgan Stanley cuts Dish to Equal Weight
As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Dish Network (DISH) to Equal Weight from Overweight as he now sees fewer likely buyers of its assets than hoped. T-Mobile (TMUS) has acquired significant additional spectrum, reducing the potential for a Dish partnership, tax reform will help Verizon (VZ) as it moves further towards small cell deployments in lieu of adding new spectrum, and the FCC is also considering a new auction, Swinburne tells investors. Additionally, the DOJ challenge of AT&T's (T) Time Warner (TWX) deal suggests a more challenging M&A backdrop than assumed for AT&T, which he had viewed as potentially the most logical buyer of Dish's DBS assets, Swinburne added. With Dish beginning to spend on its network in 2018 to boot, Swinburne lowered his price target on the stock to $55 from $75.
01/12/18
NEED
01/12/18
NO CHANGE
Target $22
NEED
Buy
Adtran price target lowered to $22 from $26 at Needham
Needham analyst Richard Valera lowered his price target on Adtran (ADTN) to $22 after the company's "sharply weaker" Q4 pre-announcement and a soft Q1 due to a slowdown at a "Tier 1 customer". Valera says the shortfall is likely the result of a stoppage at CenturyLink's (CTL) vectoring program. Longer term, the analyst keeps his Buy rating on Adtran, with other programs, such as NBN in Australia, AT&T (T) G.Fast, and a possible Verizon (VZ) NGPON win, ramping up in 2018.
NYT New York Times
$21.90

1.7 (8.42%)

TWX Time Warner
$93.36

0.39 (0.42%)

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.
01/04/18
WELS
01/04/18
NO CHANGE
Target $98
WELS
Market Perform
Time Warner price target raised to $98 from $84 at Wells Fargo
Wells Fargo analyst Marci Ryvicker raised her price target for Time Warner to $98 from $84 to incorporate tax reform. The analyst reiterates a Market Perform rating on the shares.
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.
DIS Disney
$110.59

0.17 (0.15%)

01/03/18
RSBL
01/03/18
UPGRADE
Target $130
RSBL
Buy
Disney upgraded to Buy from Neutral at Rosenblatt
Rosenblatt analyst Alan Gould upgraded Disney to Buy from Neutral and raised his price target on the shares to $130 from $115.
01/10/18
BOFA
01/10/18
NO CHANGE
Target $144
BOFA
Buy
Disney price target raised to $144 from $130 at BofA/Merrill
BofA/Merrill analyst Jessica Reif Cohen raised her price target for Disney (DIS) to $144 from $130 as she believes it offers a "solid" catalyst pipeline for upside potential in 2018/2019, driven by a strong film release slate, a potential spring analyst event to discuss direct-to-consumer strategy, the opening of Toy Story Land, DTC/Hulu, and accelerating buybacks ahead of its pending 21st Century Fox (FOXA) acquisition. The analyst also projects Disney's Q1 will reflect healthy Studio and Theme Park trends, partially offset by unfavorable comps at Consumer Products and ratings headwinds/streaming investments Media Networks. Cohen reiterates a Buy rating on Disney's shares.
01/04/18
WELS
01/04/18
NO CHANGE
WELS
Media sector upgraded to Over Weight from Market Weight at Wells Fargo
Wells Fargo analyst Marci Ryvicker upgraded the Media sector to Over Weight from Market Weight citing her positive views on shares of 21st Century Fox (FOXA), Disney (DIS), CBS (CBS) and AMC Networks (AMCX). Fox is the analyst's top near-term pick in the space, with Disney "a close second."
01/03/18
RBCM
01/03/18
NO CHANGE
Target $43
RBCM
Outperform
21st Century Fox price target raised to $43 from $34 at RBC Capital
RBC Capital analyst Steven Cahall raised his price target on 21st Century Fox (FOXA) to $43 and kept his Outperform rating in the wake of the asset sale to Disney (DIS). Cahall says the valuation on the SpinCo implies a 20% free cash flow yield relative to 7% at its peer CBS (CBS), and expects this discount to be corrected with an upside in the stock once the deal is fully priced in. The analyst also sees the immediate outlook for the company's revenue growth as "solid".
TIME Time Inc.
$18.55

0.05 (0.27%)

11/28/17
GABE
11/28/17
DOWNGRADE
GABE
Sell
Time Inc. downgraded to Sell from Hold at Gabelli
Gabelli downgraded Time Inc (TIME) to Sell following the acquisition by Meredith (MDP) for $18.50 per share in cash. Analyst Barry Lucas does not expect any other bidders or strategic buyers to emerge.
11/28/17
JEFF
11/28/17
UPGRADE
Target $80
JEFF
Buy
Meredith upgraded to Buy from Hold at Jefferies
Jefferies analyst John Janedis upgraded Meredith (MDP) to Buy and raised his price target for the shares to $80 from $56. The analyst believes the acquisition of Time Inc. (TIME) is highly accretive and creates "compelling" value. He believes the market, over time, will give Meredith credit for an improved long-term trajectory.
11/27/17
WELS
11/27/17
UPGRADE
WELS
Outperform
Wells Fargo upgrades Meredith with Street-high target after Time deal
Wells Fargo Securities analyst Eric Katz upgraded Meredith (MDP) to Outperform from Market Perform and raised his price target for the shares to $76 from $54. The media company in midday trading is up 9%, or $5.75, to $6.75. The analyst sees the Time Inc. (TIME) acquisition yielding "substantial" cost synergies that will fall to EBITDA. His new price target is the high among sell-side analysts, according to data compiled by Bloomberg.
11/27/17
WELS
11/27/17
NO CHANGE
WELS
Meredith, Time Inc. combination should yield cost synergies, says Wells Fargo
Wells Fargo analyst Eric Katz notes that Meredith (MDP) and Time Inc. (TIME) finally came to terms on a deal, with the former acquiring the latter for $18.50/share in cash. The analyst believes the combination should yield substantial cost synergies.
AMZN Amazon.com
$1,294.58

1.26 (0.10%)

01/19/18
JEFF
01/19/18
NO CHANGE
Target $100
JEFF
Buy
Jefferies sees Kohl's rallying another 50%, ups target to $100
Jefferies analyst Randal Konik raised his price target for Kohl's (KSS) to $100 from $66 and says the stock could rise at least another 50%. The shares closed yesterday up 26c to $64.85. The retailer is "addressing the digital revolution head on" and surpassing peers with more emphasis on proprietary brands, partnering with Amazon.com (AMZN) and rightsizing square footage, Konik tells investors in a research note. He expects Kohl's sales growth to accelerate and margins to rise, and views current consensus estimates as "way too low." The company's off-mall real estate is an additional positive, as is the closing of peer stores, Konik adds. He remains a buyer of the stock.
01/19/18
COWN
01/19/18
NO CHANGE
COWN
Amazon doesn't look to be actively pushing into pharma, says Cowen
After reviewing data from various state pharmacy boards, Cowen analyst Charles Rhyee noted that no additional states beyond the 13 noted last year have issued new wholesale or retail licenses to Amazon so far, while some of its existing licenses have expired. From this, he concludes that Amazon is not actively pushing into pharma, but said this doesn't mean the e-commerce giant isn't interested in healthcare, just that it may be a different area than drug sales. Rhyee thinks a natural fit could be incorporating the company's Alexa voice assistant for some health care needs, he tells investors.
01/18/18
WEDB
01/18/18
NO CHANGE
WEDB
Amazon not slowing down in hardlines, says Wedbush
Wedbush analyst Seth Basham continues to see risks from Amazon (AMZN) across the hardlines universe, "but all is not lost." The analyst argues that just as Amazon sees a need for physical retail in some categories, hardlines retailers that deliver a seamless customer experience across the physical and virtual worlds can survive, if not thrive. He believes Home Depot (HD) is the most advanced retailer he covers in responding to the paradigm shift in consumer shopping. Nonetheless, the analyst thinks all retailers need to continue to invest to avoid falling further behind, with Williams-Sonoma (WSM) most at risk from competitive pressures and/or much accelerated investment.
01/19/18
PIPR
01/19/18
NO CHANGE
Target $1400
PIPR
Overweight
Amazon.com search index points to in-line Q4, says Piper Jaffray
Piper Jaffray analyst Michael Olson says his firm's Amazon Search Index indicates Q4 online unit growth will be 24% year-over-year, in line with Street expectations and a slight deceleration from 25% in Q3. He believes any material Q4 margin upside is unlikely as Amazon spends on Whole Foods. The analyst keeps an Overweight rating on the shares with a $1,400 price target.
BAC Bank of America
$31.72

0.24 (0.76%)

01/18/18
RBCM
01/18/18
NO CHANGE
Target $35
RBCM
Outperform
Bank of America price target raised to $35 from $30 at RBC Capital
RBC Capital analyst Gerard Cassidy raised his price target on Bank of America to $35, citing a "strong all around performance" in Q4 along with the bank's commitment to keeping a low expense and growing top line profile. Cassidy says the bank remains "rate sensitive" and expects some $3.3B in net interest income from a 100bps move in short term rates. The analyst also keeps his Outperform rating on Bank of America, pointing to a positive impact from a stronger U.S. economy on its businesses, along with the return of excess capital, supporting a higher stock price view.
12/20/17
WELS
12/20/17
NO CHANGE
Target $35
WELS
Outperform
Bank of America price target raised to $35 from $30 at Wells Fargo
Wells Fargo analyst Mike Mayo raised his price target for Bank of America to $35 from $30 to reflect more potential upside from a portion of higher interest rates, lower taxes, and lower cost of capital due to greater resiliency. The analyst reiterates an Outperform rating on the shares.
01/09/18
SOCG
01/09/18
DOWNGRADE
Target $33
SOCG
Hold
Bank of America downgraded to Hold from Buy at Societe Generale
Societe Generale analyst Andrew Lim downgraded Bank of America to Hold saying the stock is now fairly priced following the recent rally. The analyst raised his price target for the shares to $33 from $32.
01/18/18
BMOC
01/18/18
NO CHANGE
Target $34
BMOC
Market Perform
Bank of America price target raised to $34 from $31 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Bank of America to $34 despite its "expense-driven" miss on Q4 earnings. Fotheringham says he remains bullish on banks based on the "indirect benefits of tax reform", while keeping his Market Perform rating on Bank of America given its two-year forward PE valuation trading around long-term historical average.
GS Goldman Sachs
$256.12

5.15 (2.05%)

01/18/18
RBCM
01/18/18
NO CHANGE
Target $265
RBCM
Sector Perform
Goldman Sachs price target raised to $265 from $240 at RBC Capital
RBC Capital analyst Gerard Cassidy raised his price target on Goldman Sachs to $265 and kept his Sector Perform rating following Q4 earnings. Cassidy contends that the weak trading results, particularly in FICC, were more than offset by Goldman's "diversified revenue mix, led by strong Investment banking results and private equity gains". The analyst also notes the company's efforts to grow and deepen relationships across its major businesses, while deriving further benefits from the "actual and perceived loosening of regulations under the Trump administration".
01/18/18
BMOC
01/18/18
NO CHANGE
Target $221
BMOC
Market Perform
Goldman Sachs price target lowered to $221 from $239 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on Goldman Sachs to $221 and kept his Market Perform rating despite the investment bank's significant top line beat in Q4. Fotheringham cites a higher than previously modeled 2018 tax rate of 24% versus his forecast of 19% as well as a higher share count. The analyst adds that Goldman Sachs shares trade "well above their long-term historical average forward P/E multiple, even after considering the direct and indirect earnings benefits expected from the TCJA".
01/18/18
OPCO
01/18/18
NO CHANGE
Target $313
OPCO
Outperform
Goldman Sachs price target raised to $313 from $301 at Oppenheimer
Oppenheimer analyst Chris Kotowski raised his price target for Goldman Sachs to $313 from $301 as a result of the tax change. The analyst reiterates an Outperform rating on the shares.
12/29/17
VERF
12/29/17
UPGRADE
Target $276.07
VERF
Buy
Goldman Sachs upgraded to Buy from Hold at Vertical Group (pre-open)
Pre-open, Vertical Group's Dick Bove upgraded Goldman Sachs to Buy with a $276.07 price target and raised his 2017 earnings estimate to $19.53 from $18.92 per share excluding the one-time charge, 2018 to $20.77 from $20.64, 2019 to $23.79 from $21.91, and established a 2020 earnings estimate of $24.79.
BK BNY Mellon
$56.61

1.26 (2.28%)

01/19/18
MSCO
01/19/18
UPGRADE
MSCO
Overweight
BNY Mellon upgraded to Overweight from Equal Weight at Morgan Stanley
01/19/18
01/19/18
UPGRADE
Target $64

Overweight
Morgan Stanley upgrades BNY Mellon, says reaction to investments overblown
As previously reported, Morgan Stanley analyst Betsy Graseck upgraded BNY Mellon to Overweight from Equal Weight, contending that the negative reaction in the stock following management's report of plans to reinvest the "vast majority" of tax savings is overblown. However, Graseck previously highlighted that new CEO Charlie Scharf could slow the pace of operating leverage and lower taxes provide an excellent opportunity to reinvest in the business without sacrificing EPS growth, she tells investors. Given that trust banks are at the nexus of "the next big wave of Fin-Tech disruption," namely corporate payments, Graseck believes tech investments should drive share gains for BNY Mellon, she added. The analyst raised her price target on BNY Mellon shares to $64 from $60.
01/19/18
JPMS
01/19/18
DOWNGRADE
Target $55.5
JPMS
Underweight
BNY Mellon downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Vivek Juneja downgraded Bank of New York Mellon to Underweight saying that while the new CEO is taking the right steps, his moves will result in "sizable" restructuring charges in 2018. The analyst believes the bank needs to continue to invest in technology to offset pricing pressure and maintain leadership position in the servicing business. As such, Juneja thinks tax reform will not materially boost BNY Mellon's earnings in the near term. He has a $55.50 price target for the shares.
01/10/18
01/10/18
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. Wells Fargo (WFC) upgraded to Neutral from Underweight at Atlantic Equities by analyst John Heagerty, as his analysis leads him to increase his FY18 EPS view by 11% on average for the banks he covers. He also sees positive secondary effects for the banks from higher U.S. GDP growth. Heagerty raised his price target on Wells Fargo shares to $64 from $55. The analyst also upgraded Morgan Stanley (MS) to Overweight this morning, citing the same analysis of the potential benefits from tax reform. 2. Deere upgraded to Outperform from Sector Perform at RBC Capital by analyst Seth Weber, who said he is positive on the company's leadership position in North American farm machinery which is stabilizing and exposure to the earth moving equipment category. The analyst is also constructive on Deere's recent Wirten Group acquisition. 3. Target (TGT) upgraded to Positive from Neutral at Susquehanna. 4. State Street (STT) and BNY Mellon (BK) upgraded to Buy from Neutral at Citi, with analyst Keith Horowitz saying he thinks the trust banks are the best way to play the digital transformation to the cloud and finds the current valuation as attractive. 5. RBS (RBS) upgraded to Overweight from Equal Weight at Morgan Stanley. Analyst Alvaro Serrano also downgraded Barclays (BCS) and Lloyds Banking (LYG). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
WLKP Westlake Chemical Partners
$24.45

-0.1 (-0.41%)

01/03/18
DBAB
01/03/18
INITIATION
Target $28
DBAB
Buy
Westlake Chemical Partners reinstated with a Buy at Deutsche Bank
Deutsche Bank analyst David Begleiter reinstated coverage of Westlake Chemical Partners with a Buy rating and increased his price target for the shares to $28 from $22. The analyst believes the company's target of growing distributions at a low double-digit annual growth rate is achievable and he finds the current dividend yield of 6.4% attractive.
12/06/17
TUDR
12/06/17
DOWNGRADE
TUDR
Hold
Westlake Chemical downgraded to Hold from Buy at Tudor Pickering
12/19/17
RILY
12/19/17
INITIATION
Target $26
RILY
Neutral
Westlake Chemical Partners resumed with a Neutral at B. Riley FBR
B. Riley FBR analyst Robert Balsamo resumed coverage of Westlake Chemical Partners with a Neutral rating and $26 price target.
12/20/17
LEHM
12/20/17
INITIATION
Target $26
LEHM
Equal Weight
Westlake Chemical Partners initiated with an Equal Weight at Barclays
Barclays analyst Duffy Fischer started Westlake Chemical Partners with an Equal Weight rating and $26 price target. The analyst views the company's 6% current distribution yield as broadly in-line with master limited partnerships of similar growth and earnings structure.
MON Monsanto
$120.66

1.8 (1.51%)

07/12/17
07/12/17
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. Monsanto (MON) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying Bayer's (BAYRY) all-cash offer appears on track for year-end. The analyst views the deal failing as a "low-probability scenario" and keeps a $128 price target for the shares. 2. Freeport McMoRan (FCX) downgraded to Sell from Hold at Berenberg. 3. Kimberly-Clark (KMB) downgraded to Sell from Neutral at UBS with analyst Stephen Powers saying the stock's 11% rise year-to-date is not based on fundamentals but news flow of consolidation in the Household Products sector. 4. Harley-Davidson (HOG) downgraded to Market Perform from Outperform at Bernstein with analyst David Beckel citing his belief that "demographic shifts and a stagnating economy" will prevent demand for the company's motorcycles from growing in the U.S. for the next five years. 5. IMAX (IMAX) downgraded to Market Perform from Outperform at Barrington with analyst James Goss saying positive catalysts "might take some time to develop." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/18/17
UBSW
08/18/17
DOWNGRADE
Target $128
UBSW
Neutral
Monsanto downgraded to Neutral from Buy at UBS
UBS analyst John Roberts downgraded Monsanto (MON) to Neutral saying the shares are now less than 10% away from the accepted Bayer (BAYRY) offer of $128. The analyst calculates that the market is currently pricing in a 70% chance of the deal going through. His view that the deal could be approved remains unchanged. Approvals of peer deals suggest antitrust approval likely for Monsanto, Roberts tells investors in a research note. The analyst keeps a $128 price target for Monsanto shares.
09/05/17
BERN
09/05/17
NO CHANGE
BERN
Bernstein still sees 'very high' probability of Bayer, Monsanto deal approval
Bernstein analyst Jeremy Redenius notes that the European Commission has opened an in-depth review of the Bayer (BAYRY)/Monsanto (MON) deal due to concerns of reduced competition in pesticides, seeds, and traits. The analyst believes this is not surprising, as the in-depth review is the norm for deals of this size. Comparing the EC's initial concerns with those of the Dow/DuPont (DWDP) deal, he still sees a "very high" probability of deal approval.
10/04/17
MACQ
10/04/17
DOWNGRADE
MACQ
Neutral
Monsanto downgraded to Neutral from Outperform at Macquarie
DLTR Dollar Tree
$114.73

1.83 (1.62%)

01/16/18
OPCO
01/16/18
INITIATION
Target $130
OPCO
Outperform
Dollar Tree initiated with an Outperform at Oppenheimer
Oppenheimer analyst Rupesh Parikh started Dollar Tree with an Outperform rating and $130 price target, noting the meaningful upside potential from U.S. tax reform and share buybacks.
01/16/18
WELS
01/16/18
NO CHANGE
Target $132
WELS
Outperform
Dollar Tree price target raised to $132 from $122 at Wells Fargo
Wells Fargo analyst Edward Kelly raised his price target for Dollar Tree to $132 from $122 to account for tax reform. The analyst reiterates an Outperform rating on the shares.
01/11/18
01/11/18
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. Netflix (NFLX) initiated with an Overweight at Barclays. 2. Dollar Tree (DLTR) initiated with a Buy at Guggenheim. 3. Coupa Software (COUP) initiated with a Buy at Needham. 4. First Solar (FSLR) initiated with a Buy at Vertical Group. 5. Bellatrix Exploration (BXE) initiated with an Underperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/18
GUGG
01/10/18
INITIATION
Target $125
GUGG
Buy
Dollar Tree initiated with a Buy at Guggenheim
Guggenheim initiated Dollar Tree with a Buy and $125 price target saying it combines a rare "growth" story and "turnaround" with the the positioning of its two brands. The firm's analyst said Dollar Tree is a consistent 8-9% EBITDA grower combined with Family Tree which is in the early-stage turnaround with potential EBITDA expansion.
CE Celanese
$112.96

1.93 (1.74%)

11/14/17
11/14/17
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. Kroger (KR) assumed with a Neutral at Goldman Sachs. 2. Dollar General (DG) assumed with a Neutral at Goldman Sachs. 3. Sea Limited (SE) was initiated with an Outperform at Cowen, an Overweight at Piper Jaffray, a Buy at Goldman Sachs and Stifel, and an Equal Weight at Morgan Stanley. 4. Supervalu (SVU) assumed with a Sell at Goldman Sachs. 5. Celanese (CE) initiated with a Buy at Tudor Pickering. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/17
KEYB
10/19/17
NO CHANGE
Target $123
KEYB
Overweight
Celanese price target raised to $123 from $116 at KeyBanc
KeyBanc analyst Michael Sison raised his price target for Celanese to $123 from $116 as he believes it is poised for another year of DD earnings growth as solid growth in its AEM business and further improvement in the Acetyl Chain is likely given impressive pricing momentum. The analyst reiterates an Overweight rating on the shares.
01/05/18
01/05/18
NO CHANGE

Citi moves to sidelines on Ecolab, names Huntsman a top takeout candidate
As previously reported, Citi analyst P.J. Juvekar downgraded Ecolab (ECL) to Neutral from Buy, citing expectations for slower Institutional growth and a slower than anticipated recovery in its Global Energy business. In a note on the broader U.S. Chemicals and Agriculture space partially titled "Go Long Cyclicals in Late Economic Cycle," Juvekar also discussed his M&A expectations for the space in 2018, naming Huntsman (HUN) his top takeout candidate after its successful spin-off of Venator Materials (VNTR). He also views Axalta Coating (AXTA) and Celanese (CE) as likely to be involved in deals, but sees a low probability for "the oft-mentioned" merger of Eastman Chemical (EMN) with Celanese.
11/14/17
TUDR
11/14/17
INITIATION
Target $119
TUDR
Buy
Celanese initiated with a Buy at Tudor Pickering
Tudor Pickering initiated Celanese with a Buy and $119 price target.
LYB LyondellBasell
$119.92

3.03 (2.59%)

01/02/18
WELS
01/02/18
NO CHANGE
WELS
Westlake Chemical, Olin key beneficiaries of tax reform, says Wells Fargo
Wells Fargo analyst Frank Mitsch says that with the tax bill now law, he sees a gross EPS accretion of about 4% on average for his chemicals coverage. The analyst believes the biggest beneficiary in his coverage will be Westlake Chemical (WLK), where 2018 EPS accretion could be about 11%. Olin (OLN) and RPM (RPM) should also be big beneficiaries, with 2018 EPS accretion of 7% and 6%, respectively, he contends, adding that LyondellBasell (LYB) accretion of about 5% does not incorporate any additional tax savings from its refinery business, which may be conservative.
01/17/18
WELS
01/17/18
NO CHANGE
Target $125
WELS
Outperform
LyondellBasell price target raised to $125 from $110 at Wells Fargo
Wells Fargo analyst Frank Mitsch raised his price target for LyondellBasell to $125 from $110 on tax reform. The analyst reiterates an Outperform rating on the shares.
12/18/17
SBSH
12/18/17
UPGRADE
Target $120
SBSH
Buy
LyondellBasell upgraded to Buy from Neutral at Citi
Citi analyst P.J. Juvekar upgraded LyondellBasell to Buy and raised his price target for the shares to $120 from $104. The world will continue to need some high-cost methanol-to-olefin capacity in 2018, Juvekar tells investors in a research note, citing his supply/demand analysis. He notes that commodity stocks bottom out six months ahead of a margin trough. The analyst thinks that moment is approaching as he believes LyondellBasell's integrated polyethylene margins may reach a "shallow bottom" in the first half of 2018.
01/03/18
VERT
01/03/18
DOWNGRADE
VERT
Hold
LyondellBasell downgraded to Hold from Buy at Vertical Research
Vertical Research analyst Kevin McCarthy downgraded LyondellBasell to Hold citing fair valuation as the ethylene cycle "ebbs."
TSE Trinseo
$79.45

2.2 (2.85%)

01/12/18
DBAB
01/12/18
NO CHANGE
Target $92
DBAB
Buy
Trinseo price target raised to $92 from $82 at Deutsche Bank
Deutsche Bank analyst David Begleiter raised his price target for Trinseo to $92 saying meetings with management reinforced his confidence that the company is one of the best investment opportunities in chemicals. Trinseo trades at a 20% valuation discount to peers despite an industry leading free cash flow yield and the 13% annual EBITDA growth expected for its Performance Materials segment, Begleiter tells investors in a research note. The analyst also believes the CEO is thinking more about acquisitions, which he thinks could be a "powerful driver of the multiple and share price." Begleiter keeps a Buy rating on Trinseo.
01/17/18
WELS
01/17/18
NO CHANGE
Target $84
WELS
Outperform
Trinseo price target raised to $84 from $79 at Wells Fargo
Wells Fargo analyst Frank Mitsch raised his price target for Trinseo to $84 from $79 on tax reform. The analyst reiterates an Outperform rating on the shares.
08/04/17
DBAB
08/04/17
NO CHANGE
Target $74
DBAB
Buy
Trinseo valuation compelling after yesterday's selloff, says Deutsche Bank
Deutsche Bank analyst David Begleiter views yesterday's 9% selloff in shares of Trinseo as overdone. The entirety of the Q2 miss and 2017 guidance cut was due to unfavorable raw material timing impacts, Begleiter tells investors in a post-earnings research note. Adjusting for these impacts, Q2 EBITDA was in-line with consensus and 2017 EBITDA guidance was unchanged at $585M, the analyst writes. He views Trinseo's valuation as compelling and reiterates a Buy rating on the shares with a $74 price target.
EYE National Vision
$43.13

1.12 (2.67%)

11/20/17
GSCO
11/20/17
INITIATION
Target $30
GSCO
Neutral
National Vision initiated with a Neutral at Goldman Sachs
Goldman analyst Matthew Fassler initiated National Vision with a Neutral and $30 price target saying valuation reflects the company's appealing growth profile.
11/21/17
GUGG
11/21/17
INITIATION
GUGG
Buy
National Vision initiated with a Buy at Guggenheim
01/18/18
WELS
01/18/18
NO CHANGE
Target $45
WELS
Outperform
National Vision price target raised to $45 from $37 at Wells Fargo
Wells Fargo analyst Zachary Fadem raised his price target for National Vision to $45 from $37 to reflect tax reform. The analyst reiterates an Outperform rating on the shares.
11/20/17
11/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Innoviva (INVA) initiated with a Hold at Deutsche Bank. 2. National Vision (EYE) was initiated with an Overweight at Morgan Stanley, an Outperform at Wells Fargo, a Buy at Jefferies and Citi, as well as a Neutral at Goldman Sachs, UBS, and BofA/Merrill. 3. Ablynx (ABLX) was initiated with an Overweight at JPMorgan, an Outperform at Baird, and a Buy at Ladenburg. 4. Blue Apron (APRN) initiated with a Sector Weight at KeyBanc. 5. BP Midstream (BPMP) was initiated with an Overweight at JPMorgan, a Buy at UBS and Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
ETFC E-Trade
$54.28

0.63 (1.17%)

01/16/18
FBCO
01/16/18
NO CHANGE
Target $67
FBCO
Outperform
E-Trade price target raised to $67 from $56 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler raised his price target for E-Trade to $67 from $56 ahead of quarterly results and to include the impacts of U.S. tax reform. The analyst reiterates an Outperform rating on the shares.
01/08/18
GSCO
01/08/18
NO CHANGE
GSCO
Goldman bullish on Brokers into 2018, upgrades Lazard and Stifel
Goldman Sachs analyst Conor Fitzgerald remains bullish on the Brokers and financial service companies heading into 2018. The analyst thinks large-cap mergers and acquisitions could accelerate and financial deals could return. To reflect these trends, Fitzgerald upgraded both Lazard (LAZ) and Stifel Financial (SF) to Buy from Neutral. The analyst prefers E-Trade (ETFC) and Charles Schwab (SCHW) over TD Ameritrade (AMTD) on the belief that commission price cuts are more likely than not in 2018. Further, Fitzgerald views Interactive Brokers' valuation as full and downgraded the shares to Sell from Neutral. Lastly, he sees a more balanced risk/reward for MarketAxess (MKTX) in this low volatility environment and downgraded the shares to Neutral from Buy.
01/04/18
WELS
01/04/18
NO CHANGE
Target $60
WELS
Outperform
E-Trade price target raised to $60 from $51 at Wells Fargo
Wells Fargo analyst Chris Harris raised his price target for E-Trade to $60 from $51 to incorporate the benefits of tax reform as well as higher interest rates. The analyst reiterates an Outperform rating on the shares.
01/03/18
MSCO
01/03/18
UPGRADE
Target $63
MSCO
Overweight
E-Trade upgraded to Overweight on tax reform, rising rates at Morgan Stanley
As previously reported, Morgan Stanley analyst Michael Cyprys upgraded E-Trade to Overweight from Equal Weight, calling the company a key beneficiary of tax reform and rising short-term interest rates. He also cites its improving trading activity, mix and new account growth. Cyprys raised his price target on E-Trade shares to $63 from $44.
LPLA LPL Financial
$59.03

0.53 (0.91%)

11/30/17
FBCO
11/30/17
INITIATION
Target $68
FBCO
Outperform
LPL Financial initiated with an Outperform at Credit Suisse
Credit Suisse analyst Craig Siegenthaler started LPL Financial with an Outperform rating and $68 price target. The analyst believes the best positioned for rate hikes
01/04/18
WELS
01/04/18
NO CHANGE
Target $60
WELS
Market Perform
LPL Financial price target raised to $60 from $52 at Wells Fargo
Wells Fargo analyst Chris Harris raised his price target for LPL Financial to $60 from $52 to incorporate the benefits of tax reform as well as higher interest rates. The analyst reiterates a Market Perform rating on the shares.
01/03/18
MSCO
01/03/18
UPGRADE
Target $62
MSCO
Equal Weight
LPL Financial upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Michael Cyprys raised his 2018 and 2019 EPS estimates by 25% and 20%, respectively, for discount brokers and 17% and 16%, respectively, for traditional asset managers, after updating for stronger equity markets, the latest forward curve and tax cuts. Given this context, he upgraded LPL Financial to Equal Weight from Underweight, stating that he views it as a key beneficiary of tax reform, rising short-term interest rates and strong equity markets. Cyprys increased his price target on LPL shares to $62 from $45. He also upgraded Apollo Global (APO) and E-Trade (ETFC), each to Overweight from Equal Weight.
01/16/18
FBCO
01/16/18
NO CHANGE
Target $77
FBCO
Outperform
LPL Financial price target raised to $77 from $68 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler raised his price target for LPL Financial to $77 from $68 ahead of quarterly results and to include the impacts of U.S. tax reform. The analyst reiterates an Outperform rating on the shares.
AMTD TD Ameritrade
$55.17

0.21 (0.38%)

01/16/18
FBCO
01/16/18
NO CHANGE
Target $52
FBCO
Underperform
TD Ameritrade price target raised to $52 from $45 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler raised his price target for TD Ameritrade to $52 from $45 ahead of quarterly results and to include the impacts of U.S. tax reform. The analyst reiterates an Underperform rating on the shares.
01/08/18
LEHM
01/08/18
UPGRADE
Target $68
LEHM
Overweight
TD Ameritrade upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Jeremy Campbell upgraded TD Ameritrade to Overweight and raised his price target for the shares to $68 from $54. Commissions cuts over the next 12 months are a possibility rather than a likelihood, Campbell tells investors in a research note on the U.S. Brokers, Asset Managers & Exchanges sector. The analyst believes TD Ameritrade shares are attractively valued at current levels.
01/04/18
WELS
01/04/18
NO CHANGE
Target $67
WELS
Outperform
TD Ameritrade price target raised to $67 from $56 at Wells Fargo
Wells Fargo analyst Chris Harris raised his price target for TD Ameritrade to $67 from $56 to incorporate the benefits of tax reform as well as higher interest rates. The analyst reiterates an Outperform rating on the shares.
SCHW Charles Schwab
$55.48

0.15 (0.27%)

01/19/18
SBSH
01/19/18
NO CHANGE
SBSH
Citi gets more selective on Asset Managers after recent rally
Citi analyst William Katz moved to an "increasingly selective stance" across Brokers & Asset Managers following the recent rally in the sector. The analyst prefers to take some money off the after tax reform drove an increase in share prices. The analyst downgraded to Hold from Buy shares of Charles Schwab (SCHW), Invesco (IVZ) and Apollo Global (APO). He also upgraded Affiliated Managers (AMG) to Buy from Hold citing improving earnings quality and capital management flexibility. Katz upped his price target for Affiliated Managers to $250 from $215.
01/19/18
SBSH
01/19/18
DOWNGRADE
SBSH
Neutral
Charles Schwab downgraded to Neutral from Buy at Citi
01/18/18
ARGS
01/18/18
NO CHANGE
Target $69
ARGS
Buy
Charles Schwab price target raised to $69 from $59 at Argus
Argus analyst Stephen Biggar raised his price target on Charles Schwab to $69 and kept his Buy rating after a Q4 earnings beat that was also based on his "substantial upward revision to FY18 EPS estimate due to tax reform". Biggar adds that higher short-term interest rates will remain a key driver of net interest revenue, with higher asset valuations supporting asset management revenues. The analyst sees Charles Schwab posting "above-peer-average" growth on continued market share gains and product innovation.
01/18/18
FBCO
01/18/18
NO CHANGE
Target $70
FBCO
Outperform
Charles Schwab price target raised to $70 from $64 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler raised his price target for Charles Schwab to $70 from $64 saying he is positive on the 2018/19 earnings setup given bulk transfer accretion, rising interest rates, more stabilization in product pricing, and favorable economic backdrop. The analyst reiterates an Outperform rating on the shares.
ADS Alliance Data
$261.82

5.88 (2.30%)

07/21/17
JMPS
07/21/17
NO CHANGE
JMPS
Alliance Data weakness 'excessive,' says JMP Securities
After Alliance Data lowered its fiscal 2017 EPS guidance, partly due to delayed recoveries and uncollectible finance charges, JMP Securities analyst David Scharf says that demand for the company's card and non-credit businesses.remains strong. He thinks that the company's earnings outlook remains strong, and he calls the decline in the company's stock "excessive." He keeps a $285 price target and an Outperform rating on the shares.
01/03/18
LEHM
01/03/18
UPGRADE
Target $310
LEHM
Overweight
Alliance Data upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Darrin Peller upgraded Alliance Data Systems to Overweight and raised his price target for the shares to $310 from $265. With more than 80% of global payments still in cash and checks, the ongoing transition to electronic forms or payment should continue to drive solid growth across the payments and fin-tech universe, Peller tells investors in a research previewing 2018 for the U.S. Payments, Processors & IT Services space. The analyst views Alliance Data's risk/reward as strong heading into the year.
01/17/18
FBCO
01/17/18
NO CHANGE
Target $218
FBCO
Underperform
Alliance Data price target raised to $218 from $193 at Credit Suisse
Credit Suisse analyst Paul Condra raised his price target for Alliance Data to $218 from $193 to reflect lower tax assumptions. The analyst reiterates an Underperform rating on the shares.
07/21/17
LEHM
07/21/17
DOWNGRADE
Target $265
LEHM
Equal Weight
Alliance Data downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Darrin Peller downgraded Alliance Data Systems to Equal Weight and lowered his price target for the shares to $265 from $285. Secular headwinds to the overall retail environment and credit "normalization" will weigh on the valuation in the near term, Peller tells investors in post-earnings research note. The analyst sees shares as being range-bound pending greater visibility into these factors.
FISV Fiserv
$138.11

0.17 (0.12%)

01/12/18
ARGS
01/12/18
NO CHANGE
ARGS
Fiserv price target raised to $148 from $140 at Argus
Argus analyst Jasper Hellweg maintained a Buy rating and raised his price target on Fiserv to $148 from $140. Hellweg expects Q4 to be the strongest of the year as the company completes implementations that were delayed in 2016, and sees "healthy upside" for Fiserv shares even without multiple expansion.
10/10/17
BARD
10/10/17
NO CHANGE
Target $146
BARD
Outperform
Fiserv a good idea heading into Q3 results, says Baird
Baird analyst David Koning said he views Fiserv as a pretty good idea heading into Q3 results as organic revenue growth and the current P/E is below its three-year relative average. He believes Q3 organic revenue growth is likely to accelerate and is showing improving core trends. Koning reiterated his Outperform rating and raised his price target to $146 from $136 on Fiserv shares.
12/21/17
OPCO
12/21/17
NO CHANGE
OPCO
Black Knight, Fiserv among beneficiaries of tax reform, says Oppenheimer
Oppenheimer analyst Glenn Greene anticipates Black Knight (BKI), Fiserv (FISV), Jack Henry (JKHY), SEI Investments (SEIC) and TSYS (TSS) could see the largest relative benefits given high percentage of domestic earnings, with 20%-plus estimated earnings accretion. Alternatively, the analyst believes Cognizant (CTSH), First Data (FDC) and Infosys (INFY) could see more modest benefit, considering Cognizant/Infosys' lower proportion of domestic earnings and First Data's elevated level of debt/interest expense. PayPal (PYPL) is not expected to benefit from tax reform, and could actually see a modest increase in its effective tax rate, he adds.
01/17/18
FBCO
01/17/18
NO CHANGE
Target $140
FBCO
Neutral
Fiserv price target raised to $140 from $126 at Credit Suisse
Credit Suisse analyst Paul Condra raised his price target for Fiserv to $140 from $126, citing stability and tax benefit. The analyst reiterates a Neutral rating on the shares.
FLT FleetCor
$206.65

3.4 (1.67%)

01/10/18
WELS
01/10/18
NO CHANGE
Target $225
WELS
Outperform
FleetCor price target raised to $225 from $185 at Wells Fargo
Wells Fargo analyst Timothy Willi raised his price target for FleetCor to $225 from $185as he is increasingly confident in the company's ability to drive attractive growth, and upside to his current EPS estimate, even before any positive impact from a reduction of the U.S. corporate tax rate is contemplated. The analyst reiterates an Outperform rating on the shares.
12/11/17
GSCO
12/11/17
UPGRADE
Target $135
GSCO
Buy
ADP upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst James Schneider upgraded ADP (ADP) to Buy and raised his price target for the shares to $135 from $112. The stock closed Friday up 14c to $116.02. The analyst thinks the Street underestimates the company's margin expansion potential. He also expects its client retention to improve. Schneider calls ADP his top contrarian pick in Payments and IT Services for 2018. The analyst's top value pick is DXC Technology (DXC). His top "laggards picks" are FleetCor (FLT) and Wex (WEX). And his top large cap growth picks for 2018 are Visa (V) and MasterCard (MA).
12/05/17
DBAB
12/05/17
NO CHANGE
Target $225
DBAB
Buy
Deutsche raises price targets for FleetCor, Wex
Deutsche Bank analyst Ashish Sabadra raised his price target for FleetCor Technologies (FLT) to $225 from $185 and for Wex (WEX) to $150 from $125. Organic growth acceleration along with margin expansion and capital allocations should drive 15%-20% earnings growth in 2018 for both companies, Sabadra tells investors in a research note on the fleet card space. The analyst also sees both FleetCor and Wex benefiting from U.S. tax reform. He has Buy ratings on both names.
11/16/17
JEFF
11/16/17
NO CHANGE
Target $86
JEFF
Buy
Jefferies ups PayPal target to $86, Square target to $47
After rolling forward his valuations to reflect 2019 estimates, Jefferies analyst Ramsey El-Assal raised his price target for PayPal (PYPL) to $86 from $80, for Square (SQ) to $47 from $44, for Visa (V) to $129 from $127 and for EPAM Systems (EPAM) to $118 from $115. He keeps Buy ratings on all four names. The analyst's top picks in Payments are First Data (FDC), FleetCor (FLT), PayPal and Wex (WEX). El-Assal's top picks in IT Services are Cognizant (CTSH) and DXC Technology (DXC).
HAWK Blackhawk
$45.25

0.1 (0.22%)

01/17/18
FBCO
01/17/18
NO CHANGE
Target $45
FBCO
Neutral
Blackhawk price target raised to $45 from $40 at Credit Suisse
Credit Suisse analyst Paul Condra raised his price target for Blackhawk to $45 from $40, citing valuation and tax reform. The analyst reiterates a Neutral rating on the shares.
11/03/17
DBAB
11/03/17
NO CHANGE
Target $51
DBAB
Buy
Blackhawk oversold after key contract renewal, says Deutsche Bank
Deutsche Bank analyst Bryan Keane believes the recent weakness in shares of Blackhawk Network (HAWK) provides a buying opportunity. The company yesterday announced a key contract renewal with Kroger, its largest customer, which likely represents 6% of worldwide operating revenue, Keane tells investors in a research note. The stock fell sharply after the last earnings call after the company warned of U.S. Retail pricing pressure, but pricing is now under control after this contract renewal, the analyst contends. He now believe that all the material Blackhawk contracts have been extended until 2021. Keane views the stock as oversold at current levels and keeps a Buy rating on the name with a $51 price target.
01/16/18
CHLM
01/16/18
DOWNGRADE
CHLM
Hold
Blackhawk downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum downgraded Blackhawk Network after Silver Lake and P2 Capital Partners agreed to acquire the company for $45.25 per share in cash.
10/18/17
10/18/17
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. Chevron (CVX) was downgraded to Hold from Buy at Societe Generale and to Market Perform on valuation at BMO Capital. 2. Ulta Beauty (ULTA) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying her firm's Fall teen survey indicated spending declines in color cosmetics among all female teens. 3. Chipotle (CMG) downgraded to Underperform from Neutral at BofA/Merrill with analyst Gregory Francort saying he believes Chipotle has down a "very good job" managing labor costs but expects further gains to be difficult, combined with the tough sales backdrop, will limit further margin expansion. 4. Roche (RHHBY) downgraded to Neutral from Buy at Citi with analyst Andrew Baum saying Roche's rate of progress in the immuno-oncology field have underperformed. 5. Blackhawk (HAWK) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MTZ MasTec
$53.30

1.25 (2.40%)

12/12/17
LEHM
12/12/17
INITIATION
Target $54
LEHM
Overweight
MasTec initiated with an Overweight at Barclays
Barclays analyst Adam Seiden started MasTec with an Overweight rating and $54 price target.
01/18/18
FBCO
01/18/18
NO CHANGE
Target $69
FBCO
Outperform
MasTec price target raised to $69 from $58 at Credit Suisse
Credit Suisse analyst Jamie Cook raised his price target for MasTec to $69 from $58 to reflect the lower tax rate as a result of tax reform. The analyst reiterates an Outperform rating on the shares.
01/02/18
CHLM
01/02/18
NO CHANGE
Target $64
CHLM
Buy
MasTec price target raised to $64 from $57 at Craig-Hallum
Craig-Hallum analyst Christian Schwab raised his price target for MasTec to $64 from $57, citing the recent passage of the U.S. tax reform bill. Including local, state and other taxes, the analyst estimates MasTec's total effective tax rate going forward will be in the high 20's percent range. He reiterates a Buy rating on the shares.
11/06/17
BARD
11/06/17
UPGRADE
Target $53
BARD
Outperform
MasTec upgraded to Outperform at Baird
As reported previously, Baird analyst Andrew Wittmann upgraded MasTec to Outperform from Neutral citing better secular growth opportunities within MasTec's end markets, which he believes should support multi-year earnings growth while the stock is still at modest valuation levels. Wittmann raised his price target to $53 from $51 on MasTec shares.

TODAY'S FREE FLY STORIES

LDOS

Leidos

$57.77

-0.57 (-0.98%)

15:29
06/21/18
06/21
15:29
06/21/18
15:29
Recommendations
Leidos analyst commentary  »

Leidos may have…

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  • 26

    Jul

LDOS

Leidos

$57.75

-0.59 (-1.01%)

, HRS

Harris

$143.06

-2.18 (-1.50%)

15:25
06/21/18
06/21
15:25
06/21/18
15:25
Periodicals
TSA terminates contract with Peraton, Washington Business Journal says »

The Transportation…

LDOS

Leidos

$57.75

-0.59 (-1.01%)

HRS

Harris

$143.06

-2.18 (-1.50%)

03/08/13
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  • 26

    Jul

FOSL

Fossil

$31.65

2.43 (8.32%)

15:25
06/21/18
06/21
15:25
06/21/18
15:25
Options
Fossil call volume above normal and directionally bullish »

Bullish option flow…

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SPY

SPDR S&P 500 ETF Trust

$274.42

-1.58 (-0.57%)

, SPX

S&P 500

$0.00

(0.00%)

15:22
06/21/18
06/21
15:22
06/21/18
15:22
Technical Analysis
Technical Take: S&P 500 at important technical juncture into the close »

Last week in a summary…

SPY

SPDR S&P 500 ETF Trust

$274.42

-1.58 (-0.57%)

SPX

S&P 500

$0.00

(0.00%)

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WFC

Wells Fargo

$54.58

0.08 (0.15%)

15:17
06/21/18
06/21
15:17
06/21/18
15:17
Periodicals
Wells Fargo said to let go of 10 analysts to cut costs, Bloomberg reports »

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    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
06/21/18
06/21
15:17
06/21/18
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
06/21/18
06/21
15:16
06/21/18
15:16
Technical Analysis
NYSE market internals summary »

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SENS

Senseonics

$4.93

0.07 (1.44%)

15:15
06/21/18
06/21
15:15
06/21/18
15:15
Hot Stocks
Senseonics says FDA approves PMA to market Eversense CGM System »

Senseonics Holdings…

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  • 22

    Jun

15:15
06/21/18
06/21
15:15
06/21/18
15:15
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

SRE

Sempra Energy

$111.85

-0.68 (-0.60%)

15:12
06/21/18
06/21
15:12
06/21/18
15:12
Hot Stocks
CPUC rejects SGE&E, SoCalGas request to build new nat gas pipeline in San Diego »

The California Public…

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CSX

CSX

$64.28

-0.59 (-0.91%)

15:10
06/21/18
06/21
15:10
06/21/18
15:10
Options
CSX sees increased put activity »

CSX sees increased put…

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03/08/13
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  • 17

    Jul

  • 26

    Aug

MFG

Mizuho Financial Group

$3.37

-0.07 (-2.03%)

15:05
06/21/18
06/21
15:05
06/21/18
15:05
Conference/Events
Mizuho Financial Group management to meet with JPMorgan »

Meetings to be held in…

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  • 25

    Jun

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    Jun

HRTX

Heron Therapeutics

$40.10

9.4 (30.62%)

15:04
06/21/18
06/21
15:04
06/21/18
15:04
Recommendations
Heron Therapeutics analyst commentary  »

Heron Therapeutics price…

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  • 21

    Jun

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    Jun

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    Jun

SGH

Smart Global

$40.24

-0.27 (-0.67%)

15:04
06/21/18
06/21
15:04
06/21/18
15:04
Options
SMART Global options imply 15.6% move in share price post-earnings »

Pre-earnings options…

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  • 21

    Jun

  • 07

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    Jul

STMP

Stamps.com

$249.35

-30.95 (-11.04%)

15:02
06/21/18
06/21
15:02
06/21/18
15:02
Recommendations
Stamps.com analyst commentary  »

Any selloff in Stamps.com…

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CPSH

CPS Technologies

$1.57

(0.00%)

14:58
06/21/18
06/21
14:58
06/21/18
14:58
Hot Stocks
CPS Technologies names Francis J. Hughes, Jr. chairman of the board »

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SRE

Sempra Energy

$113.35

0.82 (0.73%)

14:56
06/21/18
06/21
14:56
06/21/18
14:56
Periodicals
Sempra Energy to defend strategy, push back against activists, Dealreporter says »

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SENS

Senseonics

$4.90

0.04 (0.82%)

14:55
06/21/18
06/21
14:55
06/21/18
14:55
Hot Stocks
Breaking Hot Stocks news story on Senseonics »

Senseonics trading…

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  • 22

    Jun

IR

Ingersoll-Rand

$90.32

-0.595 (-0.65%)

14:52
06/21/18
06/21
14:52
06/21/18
14:52
Conference/Events
Ingersoll-Rand management to meet with JPMorgan »

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  • 25

    Jun

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    Jun

RHT

Red Hat

$166.01

-3.25 (-1.92%)

14:49
06/21/18
06/21
14:49
06/21/18
14:49
Options
Red Hat options imply 7.8% move in share price post-earnings, above median historical move »

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  • 21

    Jun

14:45
06/21/18
06/21
14:45
06/21/18
14:45
General news
June PMI reports from the U.S. and Europe are anxiously awaited Friday »

June PMI reports from the…

HES

Hess Corp.

$61.89

-0.75 (-1.20%)

14:44
06/21/18
06/21
14:44
06/21/18
14:44
Conference/Events
Hess Corp. management to meet with JPMorgan »

Meetings to be held in…

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  • 25

    Jun

  • 26

    Jun

XRX

Xerox

$26.57

-0.68 (-2.50%)

, FUJIY

Fujifilm

$0.00

(0.00%)

14:43
06/21/18
06/21
14:43
06/21/18
14:43
Periodicals
Breaking Periodicals news story on Xerox, Fujifilm »

Xerox judge rejects Fuji…

XRX

Xerox

$26.57

-0.68 (-2.50%)

FUJIY

Fujifilm

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
Barclays

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SE

Sea Limited

$14.74

-0.4 (-2.64%)

14:40
06/21/18
06/21
14:40
06/21/18
14:40
Recommendations
Sea Limited analyst commentary  »

Sea Limited's Free…

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EWZ

MSCI Brazil Index

$32.07

-0.47 (-1.44%)

14:40
06/21/18
06/21
14:40
06/21/18
14:40
Options
iShares Brazil Fund puts outpace calls 3:1 as shares eye 2018 lows »

iShares Brazil Fund puts…

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