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BA

Boeing

$354.37

16.66 (4.93%)

, XRX

Xerox

$34.13

1.45 (4.44%)

16:31
01/31/18
01/31
16:31
01/31/18
16:31

On The Fly: Top stock stories for Wednesday

Stocks opened higher following the President's State of the Union speech and solid earnings out of Boeing (BA). The averages saw their highs shortly after the open, then drifted off their best levels and ultimately gave up all its gains. The Fed's rate announcement was followed by a bit of a delayed pullback, but stocks recovered, allowing the averages to snap their two-day losing streak. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 234,000 in January, versus the consensus call for 195,000 job additions. The employment-cost index showed employment costs posted a 0.6% growth rate in Q4. The Chicago PMI fell 2.1 points in January to 65.7, though this was better than the consensus call for a reading of 64.0. The NAR pending home sales index rose 0.5% to 110.1 in December. In Fed news, the U.S. Federal Reserve kept interest rates unchanged but noted that it sees inflation moving up this year. COMPANY NEWS: Shares of Boeing advanced about 5% after the commercial jet maker reported better than expected earnings and revenue for the fourth quarter. Boeing also issued better than expected guidance for FY18, based on its expectation for commercial deliveries of between 810 and 815 jets in the fiscal year... Shares of Xerox Corp. (XRX) gained 4% after the company said it will be combined into its joint venture with Fujifilm Holdings (FUJIY). The new company will be called Fuji Xerox and trade on the New York Stock Exchange under the company's existing ticker of "XRX"... Meanwhile, the Wall Street Journal reported that Sysco (SYY) and US Foods (USFD) have filed lawsuits against companies in the chicken industry, accusing Tyson Foods (TSN), Pilgrim's Pride (PPC), Sanderson Farms (SAFM) and other poultry suppliers of manipulating wholesale chicken prices. Shares of Tyson, Sanderson, and Pilgrim's Pride slipped a respective 3.5%, 4%, and 6% after the news. MAJOR MOVERS: Among the notable gainers was Shutterfly (SFLY), which jumped nearly 28% after the company's Q4 results beat expectations and it announced the acquisition of privately-held kids photographer Lifetouch. Also higher was Ply Gem (PGEM), which gained 18.5% after announcing a "go-private" transaction valued at approximately $2.4B with Clayton, Dubilier & Rice. Among the noteworthy losers following their earnings reports were Juniper Networks (JNPR), Tupperware Brands (TUP) and Eli Lilly (LLY). Also lower was A10 Networks (ATEN), which slid 12% after postponing its 2017 fourth quarter and full year earnings announcement and conference call after the company determined that a mid-level employee within its finance department had violated the company's Insider Trading Policy and Code of Conduct. INDEXES: The Dow rose 72.50, or 0.28%, to 26,149.39, the Nasdaq gained 9.00, or 0.12%, to 7,411.48, and the S&P 500 advanced 1.38, or 0.05%, to 2,823.81.

BA

Boeing

$354.37

16.66 (4.93%)

XRX

Xerox

$34.13

1.45 (4.44%)

FUJIY

Fujifilm

$40.95

-0.818 (-1.96%)

SYY

Sysco

$62.87

-0.43 (-0.68%)

USFD

US Foods

$32.13

-0.46 (-1.41%)

TSN

Tyson Foods

$76.11

-2.78 (-3.52%)

PPC

Pilgrim's Pride

$27.77

-1.85 (-6.25%)

SAFM

Sanderson Farms

$126.90

-5.48 (-4.14%)

SFLY

Shutterfly

$68.06

14.74 (27.64%)

PGEM

Taken private

$21.45

3.35 (18.51%)

JNPR

Juniper

$26.15

-2.17 (-7.66%)

TUP

Tupperware Brands

$57.76

-6.02 (-9.44%)

LLY

Eli Lilly

$81.45

-4.64 (-5.39%)

ATEN

A10 Networks

$6.13

-0.86 (-12.30%)

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BA Boeing
$354.37

16.66 (4.93%)

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
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.
01/16/18
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%.
XRX Xerox
$34.13

1.45 (4.44%)

12/07/17
LOOP
12/07/17
NO CHANGE
Target $38
LOOP
Buy
Xerox offers positive near-term outlook and cost savings, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $38 price target after meeting with management of Xerox yesterday. Baruah says the company continues to offer compelling near-term catalysts, namely a "reasonable December quarter guidance", 4-8 quarter setup with savings not accounted for by consensus, and incremental revenue growth initiatives. The analyst says the stock is valued attractively and should have traded up 5% rather than down 15% after the September quarter results, since it exceeded the Street operations metrics views excluding one-time items.
10/03/17
10/03/17
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. Xerox (XRX) initiated with a Neutral at UBS. 2. United Rentals (URI) reinstated with a Hold at Deutsche Bank. 3. Home Depot (HD) initiated with a Buy at Gordon Haskett. 4. TD Ameritrade (AMTD) reinstated with a Neutral at Goldman Sachs. 5. West Pharmaceutical (WST) initiated with an Equal Weight at Stephens. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/05/17
UBSW
12/05/17
NO CHANGE
Target $35
UBSW
Neutral
Xerox Q4 results could lift stock, says UBS
UBS analyst Steven Milunovich noted when he initiated coverage on Xerox shares he expected positive catalysts in the near-term, including new management and cost savings. He also notes the stock reacted poorly to Q3 results, which he believes was an overreaction. The analyst said shares could react better following Q4 results as it could include better margins, positive seasonality, and cost savings. Milunovich maintained his Neutral rating and $34.50 price target on Xerox shares.
01/31/18
STPT
01/31/18
DOWNGRADE
STPT
Hold
Xerox downgraded to Hold from Buy at Standpoint Research
Standpoint Research analyst Ronnie Moas downgraded Xerox to Hold, citing the company's deal to merge with the Fuji Xerox joint venture.
FUJIY Fujifilm
$40.95

-0.818 (-1.96%)

03/27/17
DBAB
03/27/17
UPGRADE
DBAB
Buy
Fujifilm upgraded to Buy from Hold at Deutsche Bank (Friday)
Price target raised to JPY 5200 from JPY 4600.
SYY Sysco
$62.87

-0.43 (-0.68%)

12/11/17
LOOP
12/11/17
NO CHANGE
Target $68
LOOP
Buy
Sysco price target raised to $68 from $61 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Sysco to $68 following the company's investor day, saying he is more convinced about its management in generating gains in sales and productivity. The analyst is positive about the company's demonstration of its technologies as well as its commitment to the "enhanced" training process for its sales team. Wolf says the managements target of $650M-$700M of incremental EBIT for the next three years is "highly achievable", keeping his Buy rating on Sysco.
12/08/17
BMOC
12/08/17
NO CHANGE
Target $66
BMOC
Outperform
Sysco price target raised to $66 from $60 at BMO Capital
BMO Capital analyst Kelly Bania raised her price target on Sysco (SYY) to $66 after the company's investor day and an above-consensus operating income growth target of $650M-$700M. Bania says Sysco's goal is supported by "a more favorable operating expense outlook and accelerating market share gains with the local customers". The analyst keeps her Outperform rating on Sysco, saying investors could turn to the stock in search of a consumer staples play with less competitive risk from Amazon (AMZN).
01/31/18
LOOP
01/31/18
NO CHANGE
Target $72
LOOP
Buy
Sysco price target raised to $72 from $68 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Sysco to $72 ahead of Q2 earnings, saying continued solid fundamentals and the anticipated benefits of tax reform should preserve the positive investor sentiment. The analyst keeps his Buy rating on Sysco, attributing the price target increase to the lower modeled effective tax rate.
01/16/18
MSCO
01/16/18
UPGRADE
Target $64
MSCO
Equal Weight
Sysco upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Vincent Sinisi said he has become incrementally more positive on the foodservice industry and he sees a balanced risk/reward for foodservice distributers in general. Given this broader view, and his increased confidence that Sysco can sustain its margins and gain share going forward, he upgraded the stock to Equal Weight. Sinisi raised his price target on Sysco to $64 from $54.
USFD US Foods
$32.13

-0.46 (-1.41%)

11/03/17
WELS
11/03/17
UPGRADE
WELS
Outperform
Performance Food assumed with Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Edward Kelly upgraded Performance Food Group (PFGC) to Outperform from Market Perform after assuming coverage of the name. Food service represents one of the most attractive sectors within consumer, Kelly tells investors in a research note on the sector. The analyst has a $34 price target for Performance Food shares. Kelly also assumed Sysco (SYY) and US Foods (USFD) with Outperform ratings and price targets of $64 and $33, respectively. Those ratings are unchanged from his firm's previous coverage.
09/13/17
LEHM
09/13/17
UPGRADE
LEHM
Overweight
US Foods upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Karen Short upgraded US Foods to Overweight and increased its price target to $32 from $30 due to attractive valuation, earnings and EBITDA growth, free cash flow yield, and leverage. The analyst said independent growth remains robust and the company is confident in its ability to improve GP dollars despite re-accelerating inflation.
08/10/17
RBCM
08/10/17
NO CHANGE
RBCM
US Foods outlook remains positive, says RBC Capital
RBC Capital analyst William Kirk says that US Foods' comments about slower revenue growth in 2H17 shouldn't be surprising, as its comp got harder.The analyst still expects the company to gain share and generate high single digit adjusted EBITDA growth. He reiterates a $32 price target and an Outperform rating on the shares.
01/16/18
LEHM
01/16/18
DOWNGRADE
Target $32
LEHM
Equal Weight
US Foods downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Karen Short downgraded US Foods to Equal Weight with an unchanged price target of $32. The analyst cites valuation for the downgrade with the stock up 15.9%since mid-September.
TSN Tyson Foods
$76.11

-2.78 (-3.52%)

01/29/18
SPHN
01/29/18
NO CHANGE
Target $65
SPHN
Overweight
Conagra,Tyson could be Pinnacle buyers if Third Point pushes sale, says Stephens
Stephens analyst Farha Aslam noted that reports indicated that Dan Loeb's Third Point has taken a position in Pinnacle Foods (PF) and she believes an activist campaign would likely focus on a sale rather than management or operational changes. The analyst, who estimates Pinnacle could be valued at $67-$70 in an acquisition, views Conagra Brands (CAG) and Tyson Foods (TSN) as potential acquirers, noting that Pinnacle has been considered an acquisition target since Hillshire was bought by Tyson in 2014. Aslam keeps an Overweight rating and $65 price target on Pinnacle shares.
01/04/18
PIPR
01/04/18
INITIATION
Target $94
PIPR
Overweight
Piper sees multiple expansion for Tyson, starts at Overweight
Piper Jaffray analyst Brett Wong started Tyson Foods with an Overweight rating and $94 price target. The analyst sees the valuation multiple expanding as the company goes through its strategic transformation to focus on growing more value-added products. He also believes tax reform will drive earnings upside.
11/15/17
11/15/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tyson Foods (TSN) upgraded to Buy from Hold at Argus with analyst John Staszak saying the company's wide range of food business offerings gives it an edge over less diversified competitors, adding that growing demand for meat products will result in better than expected operating income over the next two years. 2. Sangamo (SGMO) upgraded to Overweight from Neutral at Piper Jaffray with analyst Charles Duncan saying he sees a "reinvigorated" company with a reestablished clinical stage pipeline. 3. Alaska Air (ALK) upgraded to Strong Buy from Outperform at Raymond James with analyst Savanthi Syth saying risk/reward is compelling following the recent pullback. 4. Ingredion (INGR) upgraded to Overweight from Equal Weight at Stephens with analyst Farha Aslam saying she views the company being well positioned to deliver double-digit EPS growth given an improving product mix, recovery in South America, and cash flow that can be deployed for dealmaking or share repurchases. 5. Tesaro (TSRO) upgraded to Outperform from Market Perform at Leerink with analyst Seamus Fernandez citing more favorable risk/reward, particularly for longer term shareholders, and recent weakness in the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/18
PIPR
01/04/18
INITIATION
Target $94
PIPR
Overweight
Tyson Foods initiated with an Overweight at Piper Jaffray
Piper Jaffray started Tyson Foods with an Overweight rating and $94 price target.
PPC Pilgrim's Pride
$27.77

-1.85 (-6.25%)

01/02/18
JEFF
01/02/18
NO CHANGE
Target $28
JEFF
Hold
Chicken prices could drop 10% in 2018, says Jefferies
Jefferies analyst Akshay Jagdale says his proprietary supply growth model points to a 4% increase in chicken production in 2018, well above the 2% growth expected by the United States Department of Agriculture, Pilgrim's Pride (PPC) and Sanderson Farms (SAFM). The Street is underestimating the size of the breeder flock and, to a lesser extent, its productivity, Jagdale tells investors in a research note titled "Too Many Chickens in 2018." He believes chicken prices could be down 3%-10% year-over-year in 2018 if his analysis is correct. Such a decline points to "significant downside to our already below consensus estimates" for Pilgrim's and Sanderson, the analyst adds. Jagdale lowered his price target for Hold-rated Pilgrim's to $28 from $32 and for Underperform-rated Sanderson's to $77 from $85.
11/09/17
BMOC
11/09/17
NO CHANGE
Target $38
BMOC
Market Perform
Pilgrim's Pride price target raised to $38 from $24 at BMO Capital
BMO Capital analyst Kenneth Zaslow raised his price target on Pilgrim's Pride to $38 and kept his Market Perform rating following a Q3 earnings beat that reflected better-than-expected Mexico margins, strong U.S. performance, and benefit of the Moy Park acquisition. Zaslow says the company's favorable outlook for margin expansion and a 2% production growth reflects its efforts to build a unique chicken portfolio strategy across geographies and product mix.
11/03/17
11/03/17
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. YogaWorks (YOGA) initiated with an Outperform at Imperial Capital. 2. IRIDEX (IRIX) resumed with a Buy at Roth Capital. 3. TE Connectivity (TEL) initiated with an Outperform at Baird. 4. Pilgrim's Pride (PPC), Sanderson Farms (SAFM), and Tyson Foods (TSN) were initiated with an Equal Weight at Morgan Stanley, while Hormel Foods (HRL) initiated with an Underweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/03/17
MSCO
11/03/17
INITIATION
Target $30
MSCO
Equal Weight
Pilgrim's Pride initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst John Colantuoni initiated Pilgrim's Pride with an Equal Weight rating and $30 price target, as he believes unusually strong chicken prices this past summer will create difficult comparisons.
SAFM Sanderson Farms
$126.90

-5.48 (-4.14%)

12/18/17
BMOC
12/18/17
NO CHANGE
Target $140
BMOC
Market Perform
Sanderson Farms price target lowered to $140 from $150 at BMO Capital
BMO Capital analyst Kenneth Zaslow lowered his price target on Sanderson Farms to $140 after a Q4 earnings miss attributed to "exacerbated price weakness". Zaslow keeps his Market Perform rating, contending that margins have likely peaked and will decline amid consistent production expansion, neutral-to-rising feed costs, and spotty demand issues on declining NFL viewership and menu changes.
11/03/17
MSCO
11/03/17
INITIATION
Target $140
MSCO
Equal Weight
Sanderson Farms initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst John Colantuoni initiated Sanderson Farms with an Equal Weight rating and $140 price target, as he believes unusually strong chicken prices this past summer will create difficult comparisons.
SFLY Shutterfly
$68.06

14.74 (27.64%)

01/31/18
RHCO
01/31/18
NO CHANGE
Target $70
RHCO
Buy
Shutterfly price target raised to $70 from $60 at SunTrust
SunTrust analyst Youssef Squali raised his price target on Shutterfly to $70 and kept his Buy rating after stronger than expected Q4 results. Squali says the core Consumer segment is returning to growth thanks to positive momentum of new product launches on an upgraded platform. The analyst is also positive on the impact of the recent Lifetouch acquisition driving revenue and cost synergies.
01/31/18
BARD
01/31/18
NO CHANGE
Target $68
BARD
Neutral
Shutterfly acquisition of Lifetouch a good strategic fit, says Baird
Baird analyst Colin Sebastian noted Shutterfly's Q4 results beat expectations and said its announced acquisition of Lifetouch is a good strategic fit. He believes Lifetouch will provide material customer acquisition benefits, should close in Q2, and contribute positive revenue and EBITDA over the 12 months post-close. He also said the company is in the midst of transforming from an operational/execution story to a product development story. Sebastian maintained his Neutral rating and raised his price target to $68 from $50 on Shutterfly shares.
01/17/18
GSCO
01/17/18
DOWNGRADE
Target $46
GSCO
Sell
Shutterfly downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Christopher Merwin downgraded Shutterfly (SFLY) to Sell with an unchanged price target of $46. The Internet-based image publishing service closed yesterday down 46c to $52.62. Since finding a bottom on November 6, shares of Shutterfly have rallied 31%, which more than prices in any benefit of tax reform, Merwin tells investors in a research note. He sees an unfavorable risk/reward profile at current share levels. The analyst coupled the downgrade with an upgrade of Groupon (GRPN) to Neutral from Sell.
01/12/18
RHCO
01/12/18
NO CHANGE
Target $60
RHCO
Buy
Shutterfly price target raised to $60 from $55 at SunTrust
SunTrust analyst Youssef Squali kept his Buy rating and raised his price target on Shutterfly to $60 as part of his "Favorite Internet Stocks; Bullish Thesis Strengthened" research note. Squali cites the management's focus on disciplined growth, higher earnings quality, and potential for further investments with longer payback periods for the company.
PGEM Taken private
$21.45

3.35 (18.51%)

03/14/17
ZELM
03/14/17
UPGRADE
ZELM
Buy
Ply Gem upgraded to Buy from Hold at Zelman
03/16/17
GHSC
03/16/17
INITIATION
GHSC
Neutral
Ply Gem initiated with a Neutral at Seaport Global
Seaport Global analyst Matt McCall started Ply Gem with a Neutral rating.
JNPR Juniper
$26.15

-2.17 (-7.66%)

01/31/18
LOOP
01/31/18
NO CHANGE
Target $26
LOOP
Hold
Juniper price target lowered to $26 from $30 at Loop Capital
Loop Capital analyst James Kisner lowered his price target on Juniper to $26 after Q4 results that showed Routing business "much weaker than expected" and a "very disappointing" gross margin guidance. The analyst points to "on-going architectural transition at several major hyperscale customers that led to the negative Q3 pre-announcement", but also notes some signs of recovery in the company's Security business. Kisner keeps his Neutral rating on the stock, awaiting "greater confidence Juniper can exceed investor expectations".
01/31/18
STFL
01/31/18
NO CHANGE
Target $27
STFL
Hold
Juniper market challenges persisting, says Stifel
Stifel analyst Patrick Newton attributes Juniper's lower than expected Q1 outlook to continued pressure in its routing business and cloud end market. Although he thinks current headwinds will be largely transitory, he sees structural pressure on the router market and notes Juniper is underexposed to the cloud, the area driving growth. Newton keeps a Hold rating on Juniper shares and trimmed his price target on the stock to $27 from $28.
01/29/18
LOOP
01/29/18
INITIATION
Target $30
LOOP
Hold
Juniper initiated with a Hold at Loop Capital
Loop Capital analyst James Kisner started Juniper Networks with a Hold rating and $30 price target. The analyst views the stock's valuation as attractive but says "weak" growth prospects in routing as well as competitive risks in switching and security keep him on the sidelines for now.
01/26/18
MKMP
01/26/18
NO CHANGE
Target $31
MKMP
Neutral
Juniper price target raised to $31 from $27.50 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Juniper to $31 to reflect the company's mid-quarter guidance update while also noting the modeled tax rate to 21.5% from 27% starting with Q4. Longer term, the analyst keeps his Neutral rating, as "Service Provider Routers are under permanent secular pressure due to virtualization".
TUP Tupperware Brands
$57.76

-6.02 (-9.44%)

LLY Eli Lilly
$81.45

-4.64 (-5.39%)

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.
01/31/18
JEFF
01/31/18
NO CHANGE
JEFF
Jefferies sees neutral impact on Biotech from State of the Union
Jefferies analyst Michael Yee sees a net neutral impact on Biotech stocks from President Trump's State of the Union speech last night. During the speech, Trump made comments about making lower drug prices a "priority" for the year, Yee tells investors in a research not titled "Drug Pricing Comments Not New or Surprising - But a Reminder of Rhetoric." The President, however, also commented on broader access to novel clinical trial drugs, Yee points out. After a "strong biotech rally" in January, the analyst assumes the sector, "at some point," will have some relative near-term pullback either on uncertainty about Trump commentary or some consolidation. Some of the analyst's Buy-rated names include AbbVie (ABBV), Amgen (AMGN), Eli Lilly (LLY) and Gilead Sciences (GILD).
01/29/18
MSCO
01/29/18
INITIATION
Target $57
MSCO
Overweight
Radius Health initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison started Radius Health (RDUS) with an Overweight rating and $57 price target, contending that pricing and convenience offer a path for Radius' Tymlos to take share from market leader Forteo, sold by Eli Lilly (LLY). While Tymlos is launching well, Radius' patch development offers a path to long-term market expansion and elacestrant in breast cancer remains underappreciated by consensus, Harrison added.
01/22/18
FBCO
01/22/18
DOWNGRADE
Target $82
FBCO
Underperform
Credit Suisse downgrades Lilly to Underperform on mid-term guidance concerns
Credit Suisse analyst Vamil Divan downgraded Eli Lilly (LLY) to Underperform from Neutral and cut his price target for the shares to $82 from $88. The analyst does not believe Lilly is on track to hit its mid-term guidance of 5% annual sales growth from 2015-2020. Divan notes he's $500M below consensus for Trulicity in 2021 based on market share gains for Novo Nordisk's (NVO) Victoza following its recent label expansion, the threat from Novo's once-weekly Ozempic and risk from upcoming Phase 3 data for Novo's oral semaglutide. Trulicity accounts for 40% of Lilly's sales growth from 2016-2021 based on current expectations, Divan tells investors in a research note partially titled "Diabetes Challenges Leave Sour Taste in Our Mouth"
ATEN A10 Networks
$6.13

-0.86 (-12.30%)

01/17/18
DADA
01/17/18
NO CHANGE
Target $8
DADA
Buy
A10 Networks price target lowered to $8 at DA Davidson on soft Q4 revenue view
DA Davidson analyst Mark Kelleher lowered his price target on A10 Networks (ATEN) to $8 from $9 but kept his Buy rating after the company's preliminary Q4 results lowering expectations for sales. The analyst says the company "may have been caught in 4Q by weakness in the Service Provider sector" - similarly to NetScout (NTCT) - but believes the weakness may be temporary. Longer term, Kelleher notes that A10 Networks offers "unique solutions in the cyber security market, particularly with the DDoS threat vector" and can achieve profitable growth in 2018 and beyond.
07/14/17
07/14/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Snap (SNAP) downgraded to Market Perform from Outperform at Cowen with analyst John Blackledge lowering his 2017 and longer-term advertising revenue estimates for Snap to reflect a more competitive environment within Digital advertising. He also believes contribution from the company's new advertising monetization products like Direct Response and Self Serve are not likely to be meaningful in the near term. 2. CyberArk (CYBR) was downgraded to Equal Weight from Overweight at Stephens, to Hold from Buy at Deutsche Bank, and to Neutral from Overweight at JPMorgan. 3. At Home Group (HOME) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew Fassler citing valuation with the shares up 82% since his upgrade to Buy on November 30, 2016. 4. A10 Networks (ATEN) downgraded to Sector Weight from Overweight at KeyBanc with analyst Alex Kurtz citing "substantially" lower projected growth rates following the company's weaker than expected preliminary second quarter results. 5. Himax (HIMX) downgraded to Underperform from Perform at Oppenheimer with analyst Andrew Uerkwitz saying lowered smartphone expectations in China for 2017 will weigh on the company's near-term orders. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/14/17
KEYB
07/14/17
DOWNGRADE
KEYB
Sector Weight
A10 Networks downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Alex Kurtz downgraded A10 Networks to Sector Weight citing "substantially" lower projected growth rates following the company's weaker than expected preliminary Q2 results. The analyst believes regaining demand momentum could take several quarters.
07/14/17
PIPR
07/14/17
DOWNGRADE
Target $136
PIPR
Neutral
F5 Networks downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Troy Jensen downgraded F5 Networks (FFIV) to Neutral and lowered his price target for the shares to $136 from $144. The product refresh cycle is not playing out as expected and product growth "could remain challenged," Jensen tells investors in a research note. His firm's Q2 channel survey highlighted a quarter-over-quarter downtick in demand for F5 with below plan responses outnumbering above plan responses, reversing a three quarter uptrend. Jensen says the negative preannouncement from A10 Networks (ATEN) only compounded his concerns. The analyst believes F5's previous growth assumptions and forward earnings are at risk.

TODAY'S FREE FLY STORIES

FNWB

First Northwest Bancorp

$16.11

0.36 (2.29%)

17:48
07/20/18
07/20
17:48
07/20/18
17:48
Hot Stocks
First Northwest Bancorp names Terry Anderson chief credit officer »

First Northwest Bancorp…

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FCX

Freeport McMoRan

$15.75

-0.05 (-0.32%)

17:42
07/20/18
07/20
17:42
07/20/18
17:42
Hot Stocks
Freeport McMoRan CAO Michael Arnold to retire »

In a regulatory filing,…

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XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

, XLU

Utilities SPDR

$52.28

-0.39 (-0.74%)

17:39
07/20/18
07/20
17:39
07/20/18
17:39
General news
Week ending ETF Scorecard: Financials lead, Energy slumps »

S&P500 SECTORS:…

XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

XLU

Utilities SPDR

$52.28

-0.39 (-0.74%)

IYR

DJ US Real Estate Index Fund

$80.23

-0.68 (-0.84%)

XLP

Consumer Staples Sector SPDR

$52.84

0.3 (0.57%)

XLY

Consumer Discretionary Sector SPDR

$112.15

-0.47 (-0.42%)

XLB

S&P Select Materials SPDR

$58.31

-0.21 (-0.36%)

XLF

Financial Select Sector

$27.57

0.065 (0.24%)

XLV

Health Care Select Sector SPDR

$86.74

-0.17 (-0.20%)

XLK

Technology Select Sector SPDR

$72.55

0.01 (0.01%)

XLI

Industrial Select Sector SPDR

$74.44

-0.09 (-0.12%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

SLV

iShares Silver Trust

$14.59

0.18 (1.25%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

UNG

United States Natural Gas Fund

$22.38

-0.06 (-0.27%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$85.62

0.03 (0.04%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.27

-0.335 (-0.29%)

TLT

iShares 20+ Year Treasury Bond Fund

$120.78

-1.46 (-1.19%)

IEF

iShares 7-10 Year Treasury Bond ETF

$102.21

-0.35 (-0.34%)

SHY

iShares 1-3 Year Treasury Bond

$83.26

-0.005 (-0.01%)

IWD

iShares Russell 1000 Value

$123.07

-0.2897 (-0.23%)

IWF

iShares Russell 1000 Growth

$149.41

-0.04 (-0.03%)

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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

17:25
07/20/18
07/20
17:25
07/20/18
17:25
Hot Stocks
Xerox, Centerview settle matters related to proposed Fuji tie-up »

On July 20, 2018, Xerox…

XRX

Xerox

$25.10

-0.095 (-0.38%)

FUJIY

Fujifilm

$0.00

(0.00%)

03/08/13
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  • 26

    Jul

STON

StoneMor Partners

$3.61

-0.015 (-0.41%)

17:15
07/20/18
07/20
17:15
07/20/18
17:15
Hot Stocks
Breaking Hot Stocks news story on StoneMor Partners »

Oaktree Capital reports…

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TEF

Telefonica

$8.70

0.07 (0.81%)

17:11
07/20/18
07/20
17:11
07/20/18
17:11
Downgrade
Telefonica rating change at Goldman Sachs »

Telefonica downgraded to…

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

, USO

United States Oil Fund

$14.15

0.025 (0.18%)

17:04
07/20/18
07/20
17:04
07/20/18
17:04
General news
Weekly CFTC Commitment of Traders highlights »

S&P500 net long 5.5K…

SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

FXE

Euro Currency Trust

$112.46

0.83 (0.74%)

FXC

CurrencyShares Canadian Dollar Trust

$75.17

0.81 (1.09%)

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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

17:02
07/20/18
07/20
17:02
07/20/18
17:02
Syndicate
Breaking Syndicate news story on Citizens Community Bancorp »

Citizens Community…

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PKD

Parker Drilling

$0.30

-0.0044 (-1.46%)

17:01
07/20/18
07/20
17:01
07/20/18
17:01
Hot Stocks
Breaking Hot Stocks news story on Parker Drilling »

Whitebox Advisors reports…

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  • 02

    Aug

RSLS

ReShape Lifesciences

$1.47

-0.02 (-1.34%)

17:00
07/20/18
07/20
17:00
07/20/18
17:00
Hot Stocks
Breaking Hot Stocks news story on ReShape Lifesciences  »

Intracoastal Capital…

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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
07/20/18
07/20
16:57
07/20/18
16:57
Initiation
Box initiated at First Analysis »

Box initiated with an…

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ALDX

Aldeyra

$7.95

-0.15 (-1.85%)

16:53
07/20/18
07/20
16:53
07/20/18
16:53
Syndicate
Breaking Syndicate news story on Aldeyra »

Aldeyra files $250M mixed…

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GLRE

Greenlight Capital Re

$14.00

-0.15 (-1.06%)

16:46
07/20/18
07/20
16:46
07/20/18
16:46
Hot Stocks
Greenlight Capital Re announces departure of COO »

Greenlight Capital Ry…

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RVI

Retail Value

$34.56

0.2 (0.58%)

16:38
07/20/18
07/20
16:38
07/20/18
16:38
Hot Stocks
Breaking Hot Stocks news story on Retail Value »

Luxor Capital reports…

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

, ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

16:35
07/20/18
07/20
16:35
07/20/18
16:35
Hot Stocks
Lincoln Electric expands board to 11 directors, appoints Patrick Goris to board »

Lincoln Electric (LECO)…

LECO

Lincoln Electric

$92.26

0.64 (0.70%)

ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

03/08/13
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  • 23

    Jul

  • 25

    Jul

KMX

CarMax

$77.15

-0.57 (-0.73%)

16:33
07/20/18
07/20
16:33
07/20/18
16:33
Hot Stocks
CarMax chairman sells 37,500 common shares »

In a regulatory filing,…

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LOW

Lowe's

$100.65

-0.74 (-0.73%)

16:31
07/20/18
07/20
16:31
07/20/18
16:31
Hot Stocks
Lowe's names Joseph McFarland as EVP of stores »

Lowe's Companies…

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16:30
07/20/18
07/20
16:30
07/20/18
16:30
Options
Preliminary option volume of 20.2M today »

Preliminary option volume…

PFE

Pfizer

$37.33

-0.03 (-0.08%)

16:26
07/20/18
07/20
16:26
07/20/18
16:26
Hot Stocks
FDA approves Pfizer's Biosimilar NIVESTYM for all indications »

Pfizer announced that the…

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  • 22

    Aug

  • 10

    Sep

JCP

J.C. Penney

$2.50

-0.065 (-2.53%)

16:23
07/20/18
07/20
16:23
07/20/18
16:23
Hot Stocks
J.C. Penney chief customer officer McFarland to leave company »

According to a regulatory…

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
07/20/18
07/20
16:20
07/20/18
16:20
Options
Closing CBOE SPX and VIX Index summary for July 20th »

The CBOE Volatility Index…

03/08/13
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ASFI

Asta Funding

$3.15

-0.1 (-3.08%)

16:18
07/20/18
07/20
16:18
07/20/18
16:18
Hot Stocks
Asta Funding receives Nasdaq non-compliance letter »

Asta Funding announced…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
07/20/18
07/20
16:17
07/20/18
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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03/06/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
07/20/18
07/20
16:16
07/20/18
16:16
Technical Analysis
NYSE market internals summary »

Volume was average for…

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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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DIS

Disney

16:15
07/20/18
07/20
16:15
07/20/18
16:15
Periodicals
Disney fires 'Guardians' director after controversial tweets, THR says »

Disney has fired James…

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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  • 07

    Aug

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