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NVS

Novartis

$87.21

0.21 (0.24%)

, CMCSA

Comcast

$42.44

-0.45 (-1.05%)

20:25
01/23/18
01/23
20:25
01/23/18
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.19... Comcast (CMCSA), consensus 47c... General Electric (GE), consensus 29c... United Technologies (UTX), consensus $1.56... Abbott Laboratories (ABT), consensus 73c... General Dynamics (GD), consensus $2.38... Illinois Tool Works (ITW), consensus $1.62... Norfolk Southern (NSC), consensus $1.57... Baker Hughes (BHGE), consensus 14c... Progressive (PGR), consensus 77c... Royal Caribbean Cruises (RCL), consensus $1.20... Stanley Black & Decker (SWK), consensus $2.14... Rockwell Automation (ROK), consensus $1.74... Northern Trust (NTRS), consensus $1.31... W.W. Grainger (GWW), consensus $2.20... Rollins (ROL), consensus 20c.

NVS

Novartis

$87.21

0.21 (0.24%)

CMCSA

Comcast

$42.44

-0.45 (-1.05%)

GE

General Electric

$16.89

0.72 (4.45%)

UTX

United Technologies

$136.03

0.82 (0.61%)

ABT

Abbott

$59.23

-0.34 (-0.57%)

GD

General Dynamics

$207.48

-0.72 (-0.35%)

ITW

Illinois Tool Works

$173.06

-0.33 (-0.19%)

NSC

Norfolk Southern

$151.66

0.19 (0.13%)

BHGE

Baker Hughes

$35.82

0.27 (0.76%)

PGR

Progressive

$57.05

-1.17 (-2.01%)

RCL

Royal Caribbean

$127.22

-1.48 (-1.15%)

SWK

Stanley Black & Decker

$173.89

-1.34 (-0.76%)

ROK

Rockwell Automation

$204.69

0.76 (0.37%)

NTRS

Northern Trust

$106.89

-0.54 (-0.50%)

GWW

Grainger

$229.45

-0.41 (-0.18%)

ROL

Rollins

$47.88

(0.00%)

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NVS Novartis
$87.21

0.21 (0.24%)

01/05/18
NEED
01/05/18
INITIATION
Target $65
NEED
Buy
Juno Therapeutics initiated with a Buy at Needham
Needham analyst Chad Messer initiated Juno Therapeutics (JUNO) with a Buy rating and a price target of $65. Messer says that while Novartis (NVS) and Gilead (GILD) have reached the CAR-T technology market ahead of Juno, the latter is "developing safer and potentially better products", positioning itself with "best-in-class technology". The analyst believes that the selloff in the stock price since the December ASH conference creates an attractive near-term entry point for investors.
12/13/17
PIPR
12/13/17
NO CHANGE
PIPR
Overweight
Piper calls Regeneron 'essential name to own' in 2018
After spending time with management, Piper Jaffray analyst Christopher Raymond calls Regeneron Pharmaceuticals (REGN) an "essential name to own" in 2018. The analyst believes next year is setting up well for the stock with a "steady stream of meaningful data" and what he expects will be "solid operational upside." The rumors of Eylea's demise are greatly exaggerated, Raymond tells investors in a research note. He notes that management expressed confidence that Eylea's regimen will remain superior to retinal specialists versus Novartis' (NVS) RTH258. Raymond remains a buyer of Regeneron with an Overweight rating and $540 price target. The stock in afternoon trading is up 2%, or $7.78, to $389.50.
12/06/17
BOFA
12/06/17
DOWNGRADE
BOFA
Underperform
Novartis downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Graham Perry downgraded Novartis to Underperform citing recent share strength, Cosentyx competition, and lack of catalysts.
01/18/18
LEER
01/18/18
NO CHANGE
LEER
Hospitals' entrant could add to generic industry headwinds, says Leerink
After the New York Times reported that a number of the U.S.'s largest hospital systems plan to create a non-profit generic drug company to fight high prices and drug shortages, Leerink analyst Ami Fadia said she doesn't expect this to have an immediate significant impact on pricing, but does view the news as a continuation of the pricing headwinds seen over the past few years. While unclear what development stage the new generics company is at, the formation of such a company would add one more occupant in an already crowded space, added Fadia. Companies in the generic drug space include Teva (TEVA), Mylan (MYL), Novartis (NVS), Endo (ENDP) and Impax (IPXL).
CMCSA Comcast
$42.44

-0.45 (-1.05%)

01/18/18
MOFT
01/18/18
NO CHANGE
Target $52
MOFT
Buy
Comcast price target raised to $52 from $45 at MoffettNathanson
MoffettNathanson analyst Craig Moffett raised Comcast's price target to $52 from $45 citing tax reform benefits.
01/18/18
NOMU
01/18/18
DOWNGRADE
Target $45
NOMU
Neutral
Comcast downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal downgraded Comcast to Neutral while raising his price target for the shares to $45 from $42. The company faces "heightened challenges" with over-the-top services driving declines in linear video and broadband growth likely to slow, Kvaal tells investors in a research note. The analyst believes, however, that Comcast's "superior" broadband product, "sophisticated" user interface, and "unique content ownership" warrant the recent rally in the shares.
01/18/18
01/18/18
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. Symantec (SYMC) downgraded to Underperform from Hold at Jefferies with analyst John DiFucci saying the company's current guidance is not achievable and the stock will rerate lower upon investor realization. 2. Juno Therapeutics (JUNO) downgraded to Neutral from Buy at Citi with analyst Robyn Karnauskas saying Juno could be worth $110 per share in a takeover. 3. Comcast (CMCSA) downgraded to Neutral from Buy at Nomura Instinet with analyst Jeffrey Kvaal saying the company faces "heightened challenges" with over-the-top services driving declines in linear video and broadband growth likely to slow. 4. First Solar (FSLR) downgraded to Neutral from Buy at Guggenheim with analyst Sophie Karp citing valuation and limited near-term catalysts. 5. Chevron (CVX) downgraded to Hold from Buy at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/12/18
01/12/18
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. Facebook (FB) downgraded to Hold from Buy at Stifel with analyst Scott Devitt arguing there is currently "too much uncertainty" relating to the economic impact of the company's pending News Feed changes communicated in a post last night by CEO Mark Zuckerberg. 2. Snap (SNAP) downgraded to Underperform from Market Perform at Raymond James with analyst Aaron Kessler saying Snap is largely a Chat/Message app and not a camera company as it refers to itself. 3. Etsy (ETSY) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Brian Nowak citing valuation as being too expensive compared to its peers and the stock's historical average. 4. Comcast (CMCSA) downgraded to Buy from Action List Buy at TD Securities with analyst Vince Valentin citing recent shares strength and to make room of new Action List addition Shaw Communications (SJR), where he now sees better upside potential. 5. Electronic Arts (EA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Brian Nowak citing disappointing "Star Wars: Battlefront 2" third party data. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GE General Electric
$16.89

0.72 (4.45%)

01/22/18
01/22/18
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 Overweight at Atlantic Equities with analyst James Cordwell citing signs that iPhone demand is beginning to soften and emerging challenges to the smartphone's dominance. 2. General Electric (GE) downgraded to Neutral from Buy at BofA/Merrill with analyst Andrew Obin saying he expects management to lower 2018 guidance when it reports fourth quarter earnings on Wednesday. 3. American Express (AXP) downgraded to Neutral from Buy at Guggenheim with analyst Jeff Cantwell citing CCAR risk in 2018, the fact that its balance sheet is liability-sensitive, and the assumption that the company's provision expense will be significantly higher than expected in fiscal 2018. 4. Eli Lilly (LLY) downgraded to Underperform from Neutral at Credit Suisse with analyst Vamil Divan saying he does not believe Lilly is on track to hit its mid-term guidance of 5% annual sales growth from 2015-2020. 5. Symantec (SYMC) downgraded to Neutral from Outperform at Credit Suisse with analyst Brad Zelnick saying accelerating enterprise expectations do not square with mixed channel sentiment. The analyst also lowered his price target on the shares to $30 from $36. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/23/18
UBSW
01/23/18
INITIATION
Target $17
UBSW
Neutral
General Electric initiated with a Neutral at UBS
UBS analyst Christopher Belfiore initiated General Electric with a Neutral rating and $17 price target.
01/22/18
01/22/18
DOWNGRADE
Target $17

Neutral
General Electric downgraded to Neutral on earnings revisions at BofA/Merrill
As previously reported, BofA/Merrill downgraded General Electric to Neutral from Buy and cut its price target to $17 form $22. Analyst Andrew Obin expects management to lower 2018 guidance when it reports Q4 earnings on Wednesday and lowered his 2018 earnings estimate to 92c from $1.02 and 2019 earnings estimates to $1.02 from $1.08. Further, the analyst is assigning zero equity value for GE Capital and a reduced value for GE Digital initiatives and does not expect any major announcements until a new board is in place in late April.
01/22/18
BOFA
01/22/18
DOWNGRADE
BOFA
Neutral
General Electric downgraded to Neutral from Buy at BofA/Merrill
UTX United Technologies
$136.03

0.82 (0.61%)

01/08/18
01/08/18
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. United Technologies (UTX) upgraded to Buy from Neutral at Goldman Sachs with analyst Noah Poponak saying he believes United Technologies is within the year of maximum new engine loss on Geared Turbofan engines, or GTFs, and thinks the market will begin to look beyond that peak loss and give increased consideration to substantial longer-term cash flows. 2. Caterpillar (CAT) upgraded to Overweight from Neutral at JPMorgan with analyst Ann Duignan saying she believes the stock still has "significant upside" despite the outperformance in 2017. 3. Flir Systems (FLIR) upgraded to Buy from Hold at SunTrust with analyst Michael Ciarmoli citing the company's realigned segment structure under the new management team with a sharper focus on the larger government and industrial end-markets, forecasting outperformance driven by RAID order flow and new Department of Defense procurement initiatives. 4. Applied Materials (AMAT) upgraded to Strong Buy from Buy at Needham with analyst Y. Edwin Mok saying he is positive on the company's "balanced WFE exposure across segments" amid the likelihood of moderating NAND growth. 5. Western Union (WU) upgraded to Neutral from Negative at Susquehanna with analyst James Friedman saying he believes the company may be working with Ripple Labs to potentially implement blockchain applications in remittance and sees that as a possible accelerator with business-to-business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/08/18
01/08/18
UPGRADE

Buy
United Technologies upgraded to Buy at Goldman Sachs
As previously reported, Goldman upgraded United Technologies to Buy from Neutral and raised its price target to $173 from $124. Analyst Noah Poponak believes United Technologies is within the year of maximum new engine loss on Geared Turbofan engines, or GTFs, and thinks the market will begin to look beyond that peak loss and give increased consideration to substantial longer-term cash flows. Poponak said shares trade near all time low valuation and notes, outside of the GTF, aerospace aftermarket and Defense end-market growth is accelerating, while Otis and CCss are stable, and tax reform and the pending Collins deal could both be accretive.
01/16/18
WELS
01/16/18
DOWNGRADE
Target $143
WELS
Market Perform
Rockwell Collins downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sam Pearlstein downgraded Rockwell Collins to Market Perform saying the stock is largely driven by the pending acquisition by United Technologies (UTX). The analyst has a $143 price target for the shares.
01/23/18
UBSW
01/23/18
INITIATION
Target $158
UBSW
Buy
United Technologies initiated with a Buy at UBS
UBS analyst Steven Winoker initiated United Technologies with a Buy rating and $158 price target.
ABT Abbott
$59.23

-0.34 (-0.57%)

01/22/18
BTIG
01/22/18
DOWNGRADE
BTIG
Neutral
Abbott downgraded to Neutral from Buy at BTIG
01/05/18
LEER
01/05/18
NO CHANGE
Target $75
LEER
Outperform
Dexcom pricing risk less bad than feared, says Leerink
Leerink analyst Danielle Antalffy says her conversation with a specialist reinforced her view that Dexcom (DXCM) will continue to warrant at least some price premium to Abbott's (ABT) Libre given its alert and alarm capabilities and what is presumably better outcomes for patients. The analyst continues to recommend buying Dexcom on yesterday's, particularly for investors with at least a six month time horizon. She reiterates an Outperform rating on the shares with a $75 price target. Antalffy sees the company's pricing risk as less bad than feared following yesterday's news of Abbott securing Medicaid approval sooner than expected for its Freestyle Libre.
01/22/18
BTIG
01/22/18
DOWNGRADE
BTIG
Neutral
Abbott downgraded to Neutral at BTIG on valuation
As noted earlier, BTIG analyst Sean Lavin downgraded Abbott to Neutral from Buy. Lavin says the stock price has run up about 50% over the past year, and "a lot of the positives are priced in". The analyst further contends that while there may be some potential benefit from the U.S. tax reform, he does not see another 15% of upside over the next 12 months as shares now trade at a valuation above the company's peers.
01/05/18
WBLR
01/05/18
NO CHANGE
WBLR
Outperform
William Blair sees Dexcom remaining 'product-of-choice' in glucose monitoring
William Blair analyst Margaret Kaczor believes Dexcom (DXCM) will remain the "product-of-choice" in glucose monitoring after Abbott (ABT) received Medicare approval for its Freestyle Libre Flash. While the approval comes six to nine months earlier than anticipated, Abbott's broader presence will likely expand patient awareness, Kaczor tells investors in a research note. She believes Dexcom is well positioned given its alerts and alarms in this "more vulnerable patient population." The analyst keeps an Outperform rating on the shares following yesterday's selloff.
GD General Dynamics
$207.48

-0.72 (-0.35%)

10/26/17
FBCO
10/26/17
NO CHANGE
Target $238
FBCO
Outperform
General Dynamics price target raised to $238 from $216 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for General Dynamics to $238 from $216 following quarterly results. The analyst reiterates an Outperform rating on the shares.
12/12/17
12/12/17
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. Juno Therapeutics (JUNO) downgraded to Market Perform from Outperform at Wells Fargo, with analyst Jim Birchenough saying that while data for JCAR017 continue to support a potential best-in-class profile in aggressive lymphoma, the current valuation already reflects dominant market positioning over Gilead's (GILD) Yescarta. 2. General Dynamics (GD) downgraded to Underweight from Neutral at JPMorgan, with analyst Seth Seifman saying Gulfstream questions are unlikely to be resolved in the near term. Demand for G500/600 is ok for now, but uncertainty about ultimate production levels and the pace of the learning curve mean the transition will remain a near term overhang, the analyst said. Seifman also downgraded Raytheon (RTN) to Neutral from Underweight. 3. Adobe (ADBE), Barracuda (CUDA), GoDaddy (GDDY), Fortinet (FTNT) and Check Point (CHKP) downgraded to Neutral from Overweight and CoStar Group (CSGP), Imperva (IMPV) and Monotype Imaging (TYPE) downgraded to Underweight from Overweight at JPMorgan by analyst Sterling Auty in conjunction with his 2018 annual outlook for Software Technology. The analyst does not expect the "exceptional performance" in Software during 2017 to repeat in 2018. 4. Spark Therapeutics (ONCE) downgraded to Neutral from Buy at UBS, with analyst Carter Gould seeing a "challenging setup" for the shares after the Phase 1/2 SPK-8011 data in hemophilia A fell short of expectations. The analyst removed SPK-8011, or $29 per share, and early-stage pipeline value, or $12 per share, from his model. He finds it difficult to be more constructive on Spark shares in the near-term. 5. Electronic Arts (EA) downgraded to Buy from Conviction Buy at Goldman Sachs by analyst Christopher Merwin to reflect fewer near-term catalysts around in-game monetization of non-sports titles. To see The Fly's full Street Research coverage, click here.
10/09/17
RBCM
10/09/17
NO CHANGE
Target $209
RBCM
Outperform
Defense and Aerospace sector poised for strong Q3, says RBC Capital
RBC Capital analyst Matthew McConnell previewed the Q3 earnings season for the defense and commercial aviation industries, raising price targets across the sectors. In defense, McConnell likes the companies with focus on international markets, where demand has not yet been reflected in orders or backlog. Among his favorites, McConnell raises the price target on Raytheon (RTN) to $209 from $193, General Dynamics (GD) to $241 from $220, Northrop Grumman (NOC) to $324 from $294, Lockheed Martin (LMT) to $327 from $289, and Triumph (TGI) to $38 from $33. He also states that there may be room for some consolidation in defense given that budget up-cycle is only 2 years old, profiling Astronics (ATRO), Barnes (B), Esterline (ESL), Heico (HEI), and Textron (TXT) as some of the potential targets. In commercial aviation, McConnell sees Boeing (BA) upside driven by continued strong air traffic growth, mature sales campaigns, and expectations for a strong wide-body replacement cycle starting in the early 2020s, raising his price target on Boeing to $269 from $235.
12/12/17
JPMS
12/12/17
DOWNGRADE
Target $215
JPMS
Underweight
General Dynamics downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Seth Seifman downgraded General Dynamics to Underweight and lowered his price target for the shares to $215 from $225. Gulfstream questions are unlikely to be resolved in the near term, Seifman tells investors in a research note. Demand for G500/600 is ok for now, but uncertainty about ultimate production levels and the pace of the learning curve mean the transition will remain a near term overhang, the analyst says.
ITW Illinois Tool Works
$173.06

-0.33 (-0.19%)

01/04/18
BMOC
01/04/18
DOWNGRADE
BMOC
Market Perform
Illinois Tool Works downgraded to Market Perform from Outperform at BMO Capital
12/11/17
12/11/17
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. Square (SQ) initiated with a Market Perform on valuation at Cowen. 2. Illinois Tool Works (ITW) initiated with a Buy at BofA/Merrill. 3. SendGrid (SEND) was initiated with an Outperform at William Blair, an Overweight at Piper Jaffray, KeyBanc, and JPMorgan, a Buy at Stifel, as well as an Equal Weight at Morgan Stanley. 4. BWX Technologies (BWXT) initiated with a Market Perform at Wells Fargo. 5. Arsanis (ASNS) was initiated with an Overweight at Piper Jaffray, an Outperform at Cowen, and a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/18
BMOC
01/04/18
DOWNGRADE
Target $180
BMOC
Market Perform
Illinois Tool Works downgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Joel Tiss downgraded Illinois Tool Works to Market Perform from Outperform with a price target of $180 on valuation, saying shares now trade at nearly 21-times his above-consensus 2019 EPS target. Tiss notes that the company has likely reached a tipping point for much better profitability and does not justify a premium, having outperformed most industrials with a 170% run-up in the stock price over the past five years.
12/11/17
BOFA
12/11/17
INITIATION
Target $190
BOFA
Buy
Illinois Tool Works initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Ross Gilardi initiated Illinois Tool Works with a Buy and $190 price target. The analyst expects annual revenue growth to accelerate to 3-5% from 2.5% in 2017 and flt in 2015-16 from its 80/20 strategy that drives resources to the most profitable customers. Gilardi expects 15-20% dividend growth and thinks Illinois Tool Works will be a large tax beneficiary from any tax reform.
NSC Norfolk Southern
$151.66

0.19 (0.13%)

01/12/18
CLVD
01/12/18
NO CHANGE
CLVD
Neutral
Norfolk Southern Q4 earnings trending above consensus, says Cleveland Research
Cleveland Research analyst Bryan Merolla's checks indicate Norfolk Southern (NSC) is benefiting from share gains at the expense of CSX (CSX) and an improving pricing environment. Merolla is modeling Q4 earnings of $1.59 versus consensus of $1.56 and maintains a Neutral rating.
01/12/18
SCOT
01/12/18
UPGRADE
SCOT
Outperform
Norfolk Southern upgraded to Outperform from Sector Perform at Scotiabank
01/09/18
RBCM
01/09/18
NO CHANGE
Target $67
RBCM
Outperform
RBC Capital raises price targets for Rails on Q4 volume growth and tax reform
RBC Capital analyst Walter Spracklin previews Q4 earnings for the Rail sector, saying volume grew about 4% while other performance metrics have been in line with prior years that saw similar growth rates. The analyst raises his price target on Canadian Pacific (CP) to CAD256 from CAD238 with an Outperform rating, calling it his "preferred name" based on solid volume, pricing trends, and relatively attractive valuation. Spracklin also ups CSX (CSX) price target to $67 from $59 with an Outperform rating, Norfolk Southern (NSC) price target to $137 from $123 with an Underperform rating, and Union Pacific (UNP) price target to $140 from $124 with a Sector Perform rating to reflect the positive impact of the U.S. corporate tax reform.
01/12/18
LOOP
01/12/18
NO CHANGE
Target $144
LOOP
Sell
Norfolk Southern price target raised to $144 from $120 at Loop Capital
Loop Capital analyst Rick Paterson raised his price target on Norfolk Southern to $144 to reflect the expected positive impact from lower U.S. corporate tax rates. Paterson keeps his Sell rating however, noting the company's average train speed saw another low point of 19.4 mph last week, even though the management's commentary on November 29th suggested that 20.1 mph average speed recorded in early November was the low. The analyst says he is skeptical that the management can achieve its sub-65 operating ratio target by 2020, and sees the latest disappointing metrics as a sign that leadership does not understand its business or that the network is extremely fragile.
BHGE Baker Hughes
$35.82

0.27 (0.76%)

12/21/17
DBAB
12/21/17
NO CHANGE
Target $15
DBAB
Sell
GE could exit Baker Hughes in 2018, says Deutsche Bank
Deutsche Bank analyst John Inch believes General Electric (GE) could exit its 62.5% ownership of Baker Hughes (BHGE) sometime in 2018. The eventual monetization and separation of GE's entire oil and gas portfolio would be consistent with management's signaling regarding its investment in Baker Hughes, Inch tells investors in a research note. GE's exit timing may not be optimal, however, considering that the pickup in industry activity is likely to continue given improved energy prices, the analyst contends. He adds that GE would forego $188M of dividend from Baker Hughes and any future additional share repurchase benefit by the company. Inch has a Sell rating on GE with a $15 price target.
10/24/17
UBSW
10/24/17
NO CHANGE
UBSW
Selloff in oil services not necessarily over, says UBS
UBS analyst Angie Sedita said the recent sell off in the oil services sector is not necessarily over as short-term investors continue to unwind positions and she believes some Street estimates are still too high. She remains constructive on the group long-term, but attributes the selloff to a lack of upward guidance, limited catalysts, limited visibility on E&P capital expenditures and some downward revisions on some larger names in the group.
01/02/18
MSCO
01/02/18
NO CHANGE
MSCO
Morgan Stanley says 2018 may be record year for oilfield services M&A
Morgan Stanley analyst Ole Slorer believes large-cap oilfield services stocks are likely to lead a "compelling 2018 mean reversion trade," noting that large-caps have historically outperformed small-caps early in the year. Slorer also believes 2018 may be a record year for oilfield services M&A given the recent industry focus on projects being streamlined to make them economic in a $50-$60 per barrel oil price environment. Large-cap services names include Baker Hughes (BHGE), Schlumberger (SLB), Haliburton (HAL) and Weatherford (WFT). Small-cap services names covered by the firm include RPC, Inc. (RES), Core Laboratories (CLB), C&J Energy Services (CJ), Frank's International (FI), Superior Energy (SPN) and Tetra Technologies (TTI).
10/23/17
LOOP
10/23/17
NO CHANGE
Target $37
LOOP
Hold
Baker Hughes price target lowered to $37 from $40 at Loop Capital
Loop Capital analyst Stephen Gengaro lowered his price target on Baker Hughes to $37 following Q3 results, noting the company's near-term prospects are shadowed by headwinds in its Oilfield Equipment segment, soft international Oilfield Service demand, and a tepid short-term environment for LNG-driven work. The analyst notes however that management feels good about its synergy targets in its facility integration process. Gengaro maintains a Hold rating on Baker Hughes.
PGR Progressive
$57.05

-1.17 (-2.01%)

12/14/17
RAJA
12/14/17
NO CHANGE
RAJA
Raymond James Analysts' Best Picks for 2018
Raymond James named its Analysts' Best Picks for 2018. They are: Alaska Air (ALK), Alibaba (BABA), Becton Dickinson (BDX), Broadcom (AVGO), Continental Resources (CLR), Dollar Tree (DLTR), Fastenal (FAST), First Horizon (FHN), Flir Systems (FLIR), ICU Medical (ICUI), Progressive (PGR),ProPetro Holding (PUMP), ServiceNow (NOW), SS&C (SSNC), SVB Financial (SIVB), UnitedHealth (UNH), and Weyerhaeuser (WY).
12/04/17
GSCO
12/04/17
INITIATION
Target $57
GSCO
Conviction Buy
Progressive initiated with a Conviction Buy at Goldman Sachs
Goldman Sachs analyst Yaron Kinar started Progressive with a Buy rating and added the shares to his firm's Conviction List with a $57 price target. The market is underappreciating the compounding effect of Progressive's new business, which generates further upside in out years, the analyst contends.
12/14/17
MKMP
12/14/17
NO CHANGE
Target $65
MKMP
Buy
Progressive price target raised to $65 from $60 at MKM Partners
MKM Partners analyst Harry Fong raised his price target on Progressive to $65 after the company's November earnings update. Fong says personal auto policies-in-force grew at a faster rate of 12%, and underlying results were also "excellent" with a 90.9% combined ratio. The analyst keeps his Buy rating on Progressive.
12/01/17
UBSW
12/01/17
NO CHANGE
Target $62
UBSW
Buy
Progressive price target raised to $62 from $54 at UBS
UBS analyst Brian Meredith raised his price target on Progressive to $62 as the firm's survey shows the company is the best positioned insurance company to grow. He sees business accelerating in 2018 and sees it as the most leveraged to U.S. tax reform, which will provide additional upside if legislation is passed. Meredith reiterated his Buy rating on Progressive shares.
RCL Royal Caribbean
$127.22

-1.48 (-1.15%)

11/30/17
11/30/17
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. Gap (GPS) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez saying the risk/reward is skewed to the downside with the stock up nearly 40% over the past three months. 2. Royal Caribbean (RCL) was downgraded to Neutral from Outperform at Macquarie, while Norwegian Cruise Line (NCLH) was downgraded to Underperform from Neutral. 3. Dentsply Sirona (XRAY) downgraded to Neutral from Buy at H.C. Wainwright with analyst Raghuram Selvaraju citing valuation with the stock above his unchanged $68 price target. 4. Fibria Celulose (FBR) downgraded to Hold from Buy at Santander. 5. Mizuho Financial (MFG) downgraded to Equal Weight from Overweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/04/17
STFL
12/04/17
NO CHANGE
STFL
Buy
Cruise stocks should perform well today with tax overhang removed, says Stifel
After the Senate's final tax bill had no specific cruise language in it, Stifel analyst Steven Wieczynski said he expects cruise operators' stocks to perform well today with this overhang now removed. The firm maintains Buy ratings on Carnival (CCL), Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH).
01/11/18
BREN
01/11/18
UPGRADE
BREN
Buy
Royal Caribbean upgraded to Buy from Hold at Berenberg
11/30/17
MACQ
11/30/17
DOWNGRADE
MACQ
Neutral
Royal Caribbean downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Matthew Brooks downgraded Royal Caribbean to Neutral citing valuation and following the strong run in shares and maintained a $120 price target.
SWK Stanley Black & Decker
$173.89

-1.34 (-0.76%)

01/23/18
UBSW
01/23/18
INITIATION
Target $200
UBSW
Buy
Stanley Black & Decker initiated with a Buy at UBS
UBS analyst Steven Winoker initiated Stanley Black & Decker with a Buy and $200 price target.
10/24/17
10/24/17
NO CHANGE
Target $195

Buy
Stanley Black & Decker price target raised to $195 from $165 at FBR Capital
FBR Capital analyst Liam Burke increased his price target on Stanley Black & Decker to $195 following the company's earnings beat and guidance raise, stating that Stanley has continued to strengthen its global position in tools and storage while its security and industrial segments also generate strong free cash flow. He keeps a Buy rating on the shares.
10/20/17
10/20/17
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. eBay (EBAY) initiated with a Neutral at Guggenheim. 2. General Mills (GIS) initiated with a Hold at Jefferies. 3. Vistra Energy (VST) initiated with an Outperform at Evercore ISI. 4. American Homes 4 Rent (AMH) initiated with a Buy at Citi. 5. Stanley Black & Decker (SWK) initiated with a Buy at Northcoast. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/20/17
NRCS
10/20/17
INITIATION
Target $193
NRCS
Buy
Stanley Black & Decker initiated with a Buy at Northcoast
Northcoast analyst Thomas Hayes initiated Stanley Black & Decker with a Buy and price target $193.
ROK Rockwell Automation
$204.69

0.76 (0.37%)

12/08/17
GSCO
12/08/17
INITIATION
Target $193
GSCO
Neutral
Rockwell Automation reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst Joseph Ritchie reinstated Rockwell Automation with a Neutral and $193 price target.
12/20/17
DAIW
12/20/17
INITIATION
Target $199
DAIW
Rockwell Automation initiated with a Neutral at Daiwa
Daiwa initiated Rockwell Automation with a Neutral and $199 price target.
01/10/18
DBAB
01/10/18
NO CHANGE
Target $240
DBAB
Hold
3M price target raised to $240 from $180 at Deutsche Bank
Deutsche Bank analyst John Inch raised his price target for 3M (MMM) to $240 saying the company's organic growth over the near term should trend in conjunction with the current strength of the short cycle economy. However, already structurally high margins help to contain 3M's variable contribution leverage, Inch tells investors in a research note. The analyst keeps a Hold rating on the shares. 3M is less favorably positioned to fundamentally benefit from increased investment spending related to tax reform relative to other more capex-driven cyclical industrials such as Rockwell Automation (ROK), Inch argues.
01/22/18
UBSW
01/22/18
INITIATION
Target $240
UBSW
Buy
Rockwell Automation initiated with a Buy at UBS
UBS initiated Rockwell with a Buy and $240 price target.
NTRS Northern Trust
$106.89

-0.54 (-0.50%)

05/26/17
BOFA
05/26/17
INITIATION
Target $98
BOFA
Buy
Northern Trust reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Michael Carrier reinstated coverage on Northern Trust with a Buy and a $98 price target given upside from higher short-term rates, higher relative top line growth outlook, and potential upside to margins and payout.
08/09/17
WELS
08/09/17
INITIATION
Target $90
WELS
Market Perform
Northern Trust initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Mike Mayo started Northern Trust with a Market Perform rating and $90 price target.
09/08/17
UBSW
09/08/17
UPGRADE
UBSW
Buy
Northern Trust upgraded to Buy from Neutral at UBS
12/20/17
WELS
12/20/17
NO CHANGE
Target $105
WELS
Market Perform
Northern Trust price target raised to $105 from $95 at Wells Fargo
Wells Fargo analyst Mike Mayo raised his price target for Northern Trust to $105 from $95 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 a Market Perform rating on the shares.
GWW Grainger
$229.45

-0.41 (-0.18%)

01/09/18
FBCO
01/09/18
NO CHANGE
Target $190
FBCO
Underperform
Grainger price target raised to $190 from $172 at Credit Suisse
Credit Suisse analyst Andrew Buscaglia raised his price target for Grainger to $190 from $172 on valuation. The analyst reiterates an Underperform rating on the shares.
10/24/17
DBAB
10/24/17
NO CHANGE
DBAB
Amazon upped 'competitive stakes' for MSC, Grainger, says Deutsche Bank
Deutsche Bank analyst John Inch says Amazon (AMZN) raised the "competitive stakes" for industrial distributors MSC Industrial (MSM) and Grainger (GWW) with the launch of Business Prime Shipping. Amazon's new service offers an annual membership program for registered multi-user business customers in the United States and Germany. Shares of MSC are down 3% to $77.50 in afternoon trading while Grainger is down 4% to $200.57.
10/19/17
10/19/17
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. Adobe (ADBE) upgraded to Hold from Sell at Pivotal Research with analyst Brian Wieser saying the company's fiscal 2018 guidance was significantly better expected and offers strong margin trends. 2. ANGI Homeservices (ANGI) upgraded to Outperform from Market Perform at Wells Fargo with analyst Peter Stabler saying the Angie's List and HomeAdvisor combination position the new company for further category share gains in an expanding U.S. market and potential for accelerated growth in earlier stage international markets. 4. Mercer (MERC) upgraded to Outperform from Sector Perform at RBC Capital with analyst Paul Quinn citing a stronger than expected pulp market. The analyst also raised his price target on the shares to $15 from $12. 5. Grainger (GWW) upgraded to Neutral from Underweight at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/23/18
UBSW
01/23/18
INITIATION
Target $215
UBSW
Sell
Grainger initiated with a Sell at UBS
UBS analyst Christopher Belfiore initiated Grainger with a Sell rating and $215 price target.
ROL Rollins
$47.88

(0.00%)

TODAY'S FREE FLY STORIES

NTRA

Natera

$14.38

0.12 (0.84%)

08:09
06/19/18
06/19
08:09
06/19/18
08:09
Hot Stocks
Natera announces research collaboration with Institut Jules Bordet »

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  • 19

    Jun

BKYI

BIO-key

$2.42

0.02 (0.83%)

08:07
06/19/18
06/19
08:07
06/19/18
08:07
Hot Stocks
BIO-key awarded U.S. patent for Utilization of Biometric Data »

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CRON

Cronos Group

$6.77

-0.25 (-3.56%)

08:07
06/19/18
06/19
08:07
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08:07
Hot Stocks
Cronos Group granted medicinal cannabis Manufacture License in Australia »

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  • 28

    Jun

CVS

CVS Health

$67.73

-2.37 (-3.38%)

08:07
06/19/18
06/19
08:07
06/19/18
08:07
Hot Stocks
CVS Pharmacy: Prescription delivery now available nationwide »

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ALNA

Allena Pharmaceuticals

$13.48

-0.08 (-0.59%)

08:07
06/19/18
06/19
08:07
06/19/18
08:07
Hot Stocks
Allena Pharmaceuticals completes animal proof-of-concept study for ALLN-346 »

Allena Pharmaceuticals…

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MAT

Mattel

$17.78

0.1 (0.57%)

08:06
06/19/18
06/19
08:06
06/19/18
08:06
Downgrade
Mattel rating change  »

Mattel downgraded to…

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RCII

Rent-A-Center

$14.68

2.655 (22.08%)

08:06
06/19/18
06/19
08:06
06/19/18
08:06
Downgrade
Rent-A-Center rating change  »

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CTXR

Citius Pharmaceuticals

$2.67

-0.03 (-1.11%)

08:06
06/19/18
06/19
08:06
06/19/18
08:06
Hot Stocks
Citius Pharmaceuticals announces Mino-Lok is now a registered trademark »

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IRIX

IRIDEX

$6.19

-0.91 (-12.82%)

08:06
06/19/18
06/19
08:06
06/19/18
08:06
Hot Stocks
IRIDEX announces approval of CYCLO G6 Glaucoma Laser system in Korea »

IRIDEX announced the…

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

, DIA

Diamonds Fund ETF

$249.72

-0.99 (-0.39%)

08:06
06/19/18
06/19
08:06
06/19/18
08:06
Technical Analysis
Technical Take: Diamonds Fund ETF breaks uptrend support line in pre-market »

As trade war and other…

DJX

Dow Jones Industrial Average

$0.00

(0.00%)

DIA

Diamonds Fund ETF

$249.72

-0.99 (-0.39%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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RSLS

ReShape Lifesciences

$3.07

-0.05 (-1.60%)

08:05
06/19/18
06/19
08:05
06/19/18
08:05
Hot Stocks
ReShape Lifesciences receives issue notification for ReShape Vest patent »

ReShape Lifesciences…

03/08/13
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03/06/13
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MTNB

Matinas BioPharma

$0.55

-0.0816 (-12.92%)

08:05
06/19/18
06/19
08:05
06/19/18
08:05
Syndicate
Matinas BioPharma raises $8M in a public offering »

Matinas BioPharma…

03/08/13
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ISR

IsoRay

$0.45

0.0095 (2.16%)

08:05
06/19/18
06/19
08:05
06/19/18
08:05
Hot Stocks
IsoRay enters one-year employment contract with Lori Woods as Interim CEO »

IsoRay announced that it…

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SSKN

Strata Skin Sciences

$2.11

0.09 (4.46%)

08:05
06/19/18
06/19
08:05
06/19/18
08:05
Hot Stocks
Strata announces 510(k) submission for Multi-Micro Dose tip accessory »

STRATA Skin Sciences…

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RTN

Raytheon

$202.60

1.06 (0.53%)

08:05
06/19/18
06/19
08:05
06/19/18
08:05
Hot Stocks
Raytheon awarded $161M contract from U.S. Army »

Raytheon was awarded a…

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LASR

nLight

$38.51

-0.05 (-0.13%)

08:04
06/19/18
06/19
08:04
06/19/18
08:04
Recommendations
nLight analyst commentary  »

nLight price target…

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HIBB

Hibbett Sports

$21.70

-0.1 (-0.46%)

08:04
06/19/18
06/19
08:04
06/19/18
08:04
Recommendations
Hibbett Sports analyst commentary  »

Hibbett Sports weakness a…

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FBNK

First Connecticut

$26.05

0.15 (0.58%)

08:03
06/19/18
06/19
08:03
06/19/18
08:03
Hot Stocks
Breaking Hot Stocks news story on First Connecticut »

First Connecticut trading…

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PTC

PTC

$97.80

2.93 (3.09%)

, ANSS

Ansys

$177.91

0.17 (0.10%)

08:03
06/19/18
06/19
08:03
06/19/18
08:03
Recommendations
PTC, Ansys, Rockwell Automation analyst commentary  »

PTC price target raised…

PTC

PTC

$97.80

2.93 (3.09%)

ANSS

Ansys

$177.91

0.17 (0.10%)

ROK

Rockwell Automation

$175.40

-2.19 (-1.23%)

03/08/13
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  • 20

    Jun

NCR

NCR Corp.

$32.23

0.06 (0.19%)

08:03
06/19/18
06/19
08:03
06/19/18
08:03
Hot Stocks
NCR Corp. announces strategic alliance with TCS »

NCR Corp. announced that…

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DEA

Easterly Government Properties

$20.17

0.14 (0.70%)

08:03
06/19/18
06/19
08:03
06/19/18
08:03
Syndicate
Easterly Government Properties 18M share Spot Secondary priced at $19.25 »

The company increased the…

03/08/13
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  • 19

    Jun

CLBS

Caladrius

$4.05

-0.015 (-0.37%)

08:02
06/19/18
06/19
08:02
06/19/18
08:02
Hot Stocks
Caladrius receives FDA RMAT designation for CD34+ cell therapy »

Caladrius Biosciences…

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CBPO

China Biologic

$99.29

17.39 (21.23%)

08:02
06/19/18
06/19
08:02
06/19/18
08:02
Hot Stocks
China Biologic receives acquisition proposal from CCRE for $110 cash per share »

China Biologic announced…

03/08/13
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03/06/13
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XPO

XPO Logistics

$114.10

0.215 (0.19%)

08:02
06/19/18
06/19
08:02
06/19/18
08:02
Initiation
XPO Logistics initiated  »

XPO Logistics resumed…

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TREX

Trex Company

$64.61

1.675 (2.66%)

08:02
06/19/18
06/19
08:02
06/19/18
08:02
Hot Stocks
Trex Company announces effectiveness of 2-for-1 stock split »

Trex Company announced…

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