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WYNN

Wynn Resorts

$177.32

14.1 (8.64%)

, SNAP

Snap

$20.75

6.69 (47.58%)

16:43
02/07/18
02/07
16:43
02/07/18
16:43

On The Fly: Top stock stories for Wednesday

Stocks opened deep in negative territory, but similarly to yesterday the market rallied shortly after the open and eventually crossed back into positive ground. The averages turned mixed around midday and traded that way for most of the afternoon before a late day dip saw the major indexes all finish in the red, with the Nasdaq the laggard. ECONOMIC EVENTS: In the U.S., NYMEX crude prices dipped following the EIA inventory data which showed a 1.9M barrel rise in inventory versus the 3.25M increase the Street had been expecting. Gasoline supplies rose 3.4M barrels, while distillate stocks were up 3.9M barrels, both of which were greater than expected build-ups. Consumer credit rose $18.4B in December, versus the consensus forecast of $20.0B growth for the month. COMPANY NEWS: Shares of Wynn Resorts (WYNN) jumped 8.6% after the casino owner announced that its board "reluctantly" accepted the resignation of Steve Wynn as CEO and Chairman of the board following the recent sexual misconduct allegations made against the mogul... Snap Inc. (SNAP) shares surged about 48% higher after the parent of the Snapchat app reported a smaller than expected loss per share and an acceleration in growth of daily active users. Following Snap's quarterly report, at least seven Wall Street research firms upgraded the stock this morning... Dow member Disney (DIS) was 1.3% lower after its theme parks and the latest "Star Wars" film drove better than expected earnings results last quarter though its revenue fell a bit short of expectations... Meanwhile, Swiss Re (SSREY) confirmed an earlier report that it is engaged in preliminary talks with SoftBank (SFTBF) regarding a potential minority investment in Swiss Re. The talks are at a "very early stage," according to Swiss Re... Additionally, shares of Goldman Sachs (GS) were in focus after Bloomberg reported that the bank was in talks to acquire personal-finance startup Clarity Money to merge into its Marcus online lender. MAJOR MOVERS: Among the noteworthy gainers was Weight Watchers (WTW), which jumped 17% after the company announced strategic initiatives, saying it aims to increase revenue to more than $2B by the end of 2020. Also higher after reporting quarterly results were Model N (MODN), Zendesk (ZEN), and Akamai (AKAM). Among the notable losers was Netgear (NTGR), which fell 15% after it reported quarterly results and announced the planned separation of its Arlo business. Also lower after reporting quarterly results were MACOM (MTSI), Chipotle (CMG), and MagnaChip (MX). INDEXES: The Dow fell 19.42, or 0.08%, to 24,893.35, the Nasdaq lost 63.90, or 0.9%, to 7,051.98, and the S&P 500 declined 13.48, or 0.5%, to 2,681.66.

WYNN

Wynn Resorts

$177.32

14.1 (8.64%)

SNAP

Snap

$20.75

6.69 (47.58%)

DIS

Disney

$104.76

-1.41 (-1.33%)

SSREY

Swiss Re

$25.75

2.07 (8.74%)

SFTBF

SoftBank

$80.73

2.73 (3.50%)

GS

Goldman Sachs

$257.10

-1.6 (-0.62%)

WTW

Weight Watchers

$73.97

10.91 (17.30%)

MODN

Model N

$17.40

3.65 (26.55%)

ZEN

Zendesk

$40.47

2.04 (5.31%)

AKAM

Akamai

$64.48

0.81 (1.27%)

NTGR

Netgear

$57.05

-10.35 (-15.36%)

MTSI

Macom

$19.21

-11.15 (-36.73%)

CMG

Chipotle

$272.21

-32.12 (-10.55%)

MX

MagnaChip

$9.85

-1.35 (-12.05%)

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WYNN Wynn Resorts
$177.32

14.1 (8.64%)

02/07/18
DBAB
02/07/18
NO CHANGE
Target $221
DBAB
Buy
Wynn Resorts price target raised to $221 from $199 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli raised his price target for Wynn Resorts to $221 saying most of the ways the story can from here, following the resignation of Steve Wynn, are "decidedly positive for shareholders." Downside risk in the shares is limited given Wynn's discounted valuation relative to peers, fundamental strength in Macau, and upside potential to Consensus forecasts, Santarelli tells investors in a research note. He believes the company's "fair share leading and tough to replicate assets will remain highly coveted by both traditional and non-traditional peers." The analyst keeps a Buy rating on Wynn Resorts.
02/07/18
NOMU
02/07/18
UPGRADE
Target $211
NOMU
Buy
Wynn Resorts upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst Harry Curtis upgraded Wynn Resorts to Buy and raised his price target for the shares to $211 from $175. The risk is that Wynn loses any gaming licenses is lower following the resignation of Steve Wynn, Curtis tells investors in a research note. He also believes the company is now a breakup/acquisition target.
02/07/18
02/07/18
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. Lennar (LEN) upgraded to Overweight from Equal Weight at Barclays with analyst Michael Dahl saying he now expects higher returns, margins and growth, and thinks "strong" free cash flow" creates balance sheet optionality. 2. Chevron (CVX) upgraded to Outperform from Market Perform at Wells Fargo with analyst Roger Read saying he believes the energy sector's potential combination of growth and returns is attractive and could drive better shareholder returns in 2018. 3. Wynn Resorts (WYNN) was upgraded to Overweight from Neutral at JPMorgan and to Buy from Neutral at Nomura Instinet. 4. Snap (SNAP) was upgraded to Buy from Neutral at BofA/Merrill, to Hold from Sell at SunTrust, to Neutral from Underweight at JPMorgan, to In Line from Underperform at Evercore ISI, and to Outperform from Sector Perform at RBC Capital. 5. Spirit Airlines (SAVE) was upgraded to Outperform from Neutral at Macquarie and to Outperform from In-Line at Imperial Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/07/18
02/07/18
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. Wynn Resorts (WYNN) downgraded to Neutral from Buy at Roth Capital with analyst David Bain citing the news of Steve Wynn stepping down as Chairman and CEO. 2. Snap (SNAP) downgraded to Negative from Neutral at Susquehanna. 3. Chipotle (CMG) was downgraded to Sell from Hold at Stifel and to Neutral from Buy at Mizuho. 4. Cboe Global Markets (CBOE) was downgraded to Neutral from Overweight at JPMorgan and to Neutral from Buy at Goldman Sachs. 5. Macom (MTSI) was downgraded to Neutral from Overweight at JPMorgan and to Equal Weight from Overweight at Barclays. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SNAP Snap
$20.75

6.69 (47.58%)

02/07/18
MSCO
02/07/18
NO CHANGE
Target $11
MSCO
Underweight
Snap's 'next story' still uncertain, says Morgan Stanley
Morgan Stanley analyst Brian Nowak noted that Snap's Q4 results were better than expected, but he thinks the durability of the momentum into 2018 is less certain. The analyst, who still sees challenges and uncertainties as Snap works to turn its platform around, only increased his 2018 and 2019 revenue estimates by 3% each following the Q4 report. Nowak edged up his price target on Snap to $11 from $10 and keeps an Underweight rating on the stock, which has been upgraded by at least six other firms this morning.
02/07/18
SRCH
02/07/18
UPGRADE
SRCH
Hold
Snap upgraded to Hold from Sell at Summit Insights
Summit Insights analyst Jonathan Kees upgraded Snap to Hold with a $16 price target telling investors recent strategies are showing signs of traction. The analyst notes cumulative changes are still early and fraught with execution and market risks, but gives management credit for the changes to the core product and to the ad model.
DIS Disney
$104.76

-1.41 (-1.33%)

02/07/18
HDLY
02/07/18
NO CHANGE
Target $134
HDLY
Long-Term Buy
Disney price target raised to $134 from $128 at Hilliard Lyons
Hilliard Lyons analyst Jeffrey Thomison raised his price target on Disney (DIS) shares to $134 after the company's "encouraging" Q1 results, stating that he believes each operating segment has growth potential over the next few years and he views the pending deal for 21st Century Fox (FOXA) assets as a long-term positive. He maintains a Long-Term Buy rating on Disney.
02/07/18
MSCO
02/07/18
NO CHANGE
Target $130
MSCO
Overweight
Disney risks stabilizing while OTT opportunity grows, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne noted that ESPN sub losses were stable to slightly better than the prior quarter for a second quarter in a row, while the emergence of Virtual Multichannel Video Programming Distributors and the benefit of renewals set the network up for improved results even before the benefit of the direct-to-consumer app. While the impact of lost third-party licensing as a result of a pivot to over-the-top won't be clear for a while, Swinburne thinks leaning towards OTT is likely the right strategic move, he added. He maintains an Overweight rating on Disney with a $130 price target.
02/07/18
RILY
02/07/18
NO CHANGE
Target $125
RILY
Neutral
Disney price target raised to $125 from $122 at B. Riley FBR
B. Riley FBR analyst Barton Crockett raised his price target for Disney to $125 citing an improved mix shift to theme parks following last night's results. He believes this deserves a higher multiple but keeps a Neutral rating on Disney shares.
01/28/18
PIPR
01/28/18
NO CHANGE
PIPR
Growth of sports rights may be coming down, says Piper Jaffray
Piper Jaffray analyst Stan Meyers says he is starting to see some evidence that the growth of sports rights may be coming down toward a more reasonable rate. The analyst notes that only CBS (CBS), Fox (FOXA) and NBC (CMCSK; CMCSA) submitted bids for Thursday Night Football rights, with CBS and NBC submitting bids below their current rate of $450M per year, and Fox making a higher bid for the rights, in a likely effort to establish itself as a "live sports and news" network in the wake of selling a majority of assets to Disney (DIS). On the digital side, Facebook (FB) declined to make an offer for digital streaming rights to TNF, while Amazon (AMZN), which paid $50M this year, and Twitter (TWTR), which paid $10M last year did submit bids.
SSREY Swiss Re
$25.75

2.07 (8.74%)

09/20/17
RBCM
09/20/17
DOWNGRADE
RBCM
Sector Perform
Swiss Re downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Kamran Hossain downgraded Swiss Re to Sector Perform with a price target of CHF 91.
10/27/17
FBCO
10/27/17
UPGRADE
FBCO
Neutral
Swiss Re upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse analyst Paris Hadjiantonis upgraded Swiss Re to Neutral.
10/25/17
LEHM
10/25/17
UPGRADE
LEHM
Overweight
Swiss Re upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Ivan Bokhmat upgraded Swiss Re to Overweight with a price target of CHF 99.
05/05/17
JEFF
05/05/17
UPGRADE
JEFF
Hold
Swiss Re upgraded to Hold from Underperform at Jefferies
SFTBF SoftBank
$80.73

2.73 (3.50%)

10/19/17
BERN
10/19/17
INITIATION
BERN
Outperform
SoftBank initiated with an Outperform at Bernstein
Bernstein analyst Chris Lane started SoftBank with an Outperform rating as he believes the company has a "bright future."
10/18/17
KEYB
10/18/17
NO CHANGE
KEYB
KeyBanc says Softbank JV won't compete with primary business of tower operators
KeyBanc said it does not view Softbank's (SFTBF) joint venture with Australia's Lendlease as competitive to the tower operators' primary business, noting that the venture is likely to focus on rooftop sites in urban markets, but tower businesses generate the vast majority of their revenue on sites located outside urban areas. Publicly traded tower companies include American Tower (AMT), Crown Castle (CCI) and SBA (SBAC).
10/18/17
WELS
10/18/17
NO CHANGE
WELS
Wells Fargo 'surprised' tower stocks didn't react to SoftBank news
After it was reported that SoftBank (SFTBF) and Australian real estate company Lendlease formed a joint venture to purchase 8,000 cell tower sites in the U.S., Wells Fargo analyst Jennifer Fritzsche said she was "surprised" that tower company stocks did not react to this news. She had already thought if a T-Mobile (TMUS) and Sprint (S) merger deal was followed by T-Mobile CTO Neville Ray talking about network savings that the tower stocks "could take a hit," and this news may have given him "a much bigger arrow" in that quiver, she tells investors. Publicly traded tower companies include American Tower (AMT), Crown Castle (CCI) and SBA (SBAC).
09/29/17
09/29/17
NO CHANGE

SoftBank eyes acquisitions to create $300B asset-management arm, Bloomberg says
SoftBank Group (SFTBF) is looking at further acquisitions in the financial sector in an effort to establish a $300B asset management arm that would include its $93B Vision Fund over the next four to five years, Bloomberg reports, citing people familiar with the matter. SoftBank, which agreed to acquire Fortress Investment Group (FIG) for $3.3B in February, is mulling investments in the space such as acquiring traditional investment firms or taking stakes in major private equity shops like KKR (KKR). Reference Link
GS Goldman Sachs
$257.10

-1.6 (-0.62%)

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".
02/02/18
MSCO
02/02/18
NO CHANGE
MSCO
BofA, JPMorgan, Citi best positioned for tougher CCAR test, says Morgan Stanley
Morgan Stanley analyst Betsy Graseck said she had expected an easier stress test from the Federal Reserve but that the 2018 CCAR test actually seems tougher than last year, given the more intense recessions and lower asset prices modeled in it. A tougher test makes her less optimistic on her strong payout growth expectations, said Graseck, who sees Bank of America (BAC), JPMorgan (JPM) and Citi (C) as best positioned to "weather the storm" and increase payouts given their resilient balance sheets and significant excess capital. She sees Goldman Sachs (GS), which recently cut buybacks, as at risk from a tougher test, which likely weighs on the bank's 2018 ask, Graseck added.
01/25/18
WELS
01/25/18
NO CHANGE
Target $320
WELS
Outperform
Goldman Sachs price target raised to $320 from $295 at Wells Fargo
Wells Fargo analyst Mike Mayo raised his price target for Goldman Sachs to $320 form $295 saying it should have the highest pre-tax margin this decade by 2019. The analyst notes that Goldman has preserved more of its infrastructure than peer even while reducing comp and non-comp expense, which should result in greater revenues at lower marginal cost. Mayo reiterates an Outperform rating on the shares.
01/31/18
DBAB
01/31/18
NO CHANGE
Target $15
DBAB
Sell
GE likely to be dropped from Dow 30 index, says Deutsche Bank
General Electric (GE) is likely to be dropped from the Dow Jones Industrial Average after being in the index of 30 companies for over 110 years as an original member since 1896, Deutsche Bank analyst John Inch tells investors in a research note. The chances that GE could be removed from the Dow are increasing as the company continues to face "substantial challenges," the analyst writes. These include "earnings and cash pressure, tough global power generation markets, aggressive downsizing, shrinking its portfolio, management shake-up and SEC investigations," Inch argues. He sees "headline risk" as the most significant risk factor if GE were to be dropped from the Dow, "potentially amplified by GE's high mix of retail investors." Inch notes that the last major Dow shakeup occurred in September 2003, when American Airlines (AAL), Bank of America (BAC) and Hewlett Packard (HPQ) were removed and Goldman Sachs (GS), Nike (NKE) and Verizon (VZ) were added. Inch has a Sell rating on General Electric with a $15 price target. The shares closed yesterday down 33c to $15.95.
WTW Weight Watchers
$73.97

10.91 (17.30%)

01/19/18
CHLM
01/19/18
NO CHANGE
Target $70
CHLM
Buy
Weight Watchers paid length of stay increasing due to Connect, says Craig-Hallum
Craig-Hallum analyst Alex Fuhrman said Connect, Weight Watchers' social media platform, is possibly "the most important change to happen in the last 5 years" at the company and he attributes the rise of the platform as the reason that paid length of stay has just started to increase for the first time in years. The analyst, who thinks this trend is "just getting started" based on his positive view of the Connect platform, keeps a Buy rating and $70 price target on Weight Watchers shares.
02/06/18
CHLM
02/06/18
NO CHANGE
Target $70
CHLM
Buy
Craig-Hallum sees good buying opportunity ahead of Weight Watchers event
Craig-Hallum analyst Alex Fuhrman notes that Weight Watchers announced it will webcast a global employee event on February 7. The analyst sees a "good buying opportunity" ahead of tomorrow's webcast employee event in which Weight Watchers is expected to unveil three-year goals. Fuhrman reiterates a Buy rating and $70 price target on the shares.
02/07/18
CHLM
02/07/18
NO CHANGE
Target $80
CHLM
Buy
Weight Watchers price target raised to $80 from $70 at Craig-Hallum
Craig-Hallum analyst Alex Fuhrman raised his price target for Weight Watchers to $80 from $70, saying he sees "great" buying opportunity following ambitious 2020 revenue goal of $2B which could set up Weight Watchers for about $4.50 in EPS. The analyst reiterates a Buy rating on the shares.
12/20/17
12/20/17
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. Weight Watchers (WTW) initiated with a Buy at B. Riley FBR. 2. Cloudera (CLDR) initiated with a Buy at Drexel Hamilton. 3. Trade Desk (TTD) initiated with an Outperform at Wells Fargo. 4. RGC Resources (RGCO) initiated with a Neutral at Janney Capital. 5. Extreme Networks (EXTR) initiated with an Outperform at Cowen. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MODN Model N
$17.40

3.65 (26.55%)

06/29/17
DOTC
06/29/17
INITIATION
Target $17
DOTC
Buy
Model N initiated with a Buy at Dougherty
Dougherty initiated Model N with a Buy and a $17 price target.
12/12/17
JPMS
12/12/17
DOWNGRADE
Target $18
JPMS
Neutral
Model N downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Sterling Auty downgraded Model N to Neutral with an unchanged price target of $18 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. As such, he's moderating his bullish outlook into next year.
02/07/18
JMPS
02/07/18
UPGRADE
JMPS
Outperform
Model N upgraded to Outperform from Market Perform at JMP Securities
JMP Securities analyst Patrick Walravens upgraded Model N to Outperform with a $20 price target following the strong Q1 report and guidance. The analyst expects further share upside to be driven by economic benefits of an increasingly recurring model, completion of Revitas integration, making Model N a bigger player in a less crowded market, positive free cash flow next quarter and for the rest of the year, and improved profitability should provide the company options to refinance its $50M in term debt at a lower rate.
05/19/17
CHDN
05/19/17
INITIATION
Target $16
CHDN
Buy
Model N initiated with a Buy at Chardan
Chardan analyst Steven Wardel initiated Model N with a Buy and a $16 price target saying shares are undervalued based on expected strong demand for management services and execution by new management.
ZEN Zendesk
$40.47

2.04 (5.31%)

02/07/18
CHLM
02/07/18
NO CHANGE
Target $45
CHLM
Buy
Zendesk price target raised to $45 from $37 at Craig-Hallum
Craig-Hallum analyst Jeff Van Rhee raised his price target for Zendesk to $45 from $37 after the company posted an "excellent" quarter. The analyst reiterates a Buy rating on the shares.
01/23/18
PIPR
01/23/18
NO CHANGE
Target $42
PIPR
Overweight
Zendesk checks show continued strong momentum, says Piper Jaffray
Piper Jaffray analyst Alex Zukin says his channel checks suggest continued strong sales momentum for Zendesk and an organization that is "poised to benefit from sales stability" through 2018. He believes the company in Q4 signed a "large, notable transaction" in the telco vertical while also benefiting from significant expansion activity from the customer base. Zukin sees the company posting results ahead of guidance and a favorable setup with 2018. He raised his price target for the stock to $42 from $38 and reiterates an Overweight rating on Zendesk.
02/07/18
COWN
02/07/18
NO CHANGE
Target $46
COWN
Outperform
Zendesk price target raised to $46 from $39 at Cowen
Cowen analyst J. Derrick Wood raised his price target on Zendesk to $46 from $39 following Q4 results. The analyst noted the company delivered its highest growth in six quarters and believes second half of the year execution should give investors increased confidence in its new sales motions to move up-market and evolve into a multi-product company. Wood reiterated his Outperform rating on Zendesk shares.
02/07/18
SPHN
02/07/18
UPGRADE
Target $41
SPHN
Equal Weight
Zendesk upgraded to Equal Weight from Underweight at Stephens
Stephens analyst Samad Samana upgraded Zendesk to Equal Weight from Underweight and raised his price target on the stock to $41 from $34 following "another strong quarter" and the company's issuance of better than expected FY18 guidance. Part of the rationale for the upgrade is "to prevent a bad call from becoming worse," Samana added.
AKAM Akamai
$64.48

0.81 (1.27%)

02/07/18
RBCM
02/07/18
NO CHANGE
Target $70
RBCM
Sector Perform
Akamai price target raised to $70 from $55 at RBC Capital
RBC Capital analyst Dylan Haber raised his price target on Akamai to $70 and kept his Sector Perform rating after the company's Q4 earnings beat and better than expected Q1 outlook. Haber notes that the FY18 view now implies improved profitability despite the recent acquisitions as Akamai accelerates growth in its key segments such as security, but still has to prove its ability to generate double-digit revenue growth to justify a more constructive rating.
02/07/18
PIPR
02/07/18
NO CHANGE
Target $78
PIPR
Overweight
Akamai price target raised to $78 from $59 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for Akamai Technologies to $78 citing the company's "strong" Q4 results. If the company's visibility into the media delivery business has, in fact, improved, investors would likely be willing to assign a higher multiple to the stock, Olson tells investors in a post-earnings research note. He maintains an Overweight rating on Akamai.
02/07/18
DBAB
02/07/18
NO CHANGE
Target $80
DBAB
Buy
Akamai price target raised to $80 from $75 at Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath raised his price target for Akamai Technologies to $80 citing accelerating fundamentals following the company's "solid" Q4 results. Akamai pointed to expanding Media Delivery traffic share and growth in new Performance and Security products, the analyst tells investors in a research note. He keeps a Buy rating on the shares.
02/07/18
DADA
02/07/18
NO CHANGE
Target $64
DADA
Neutral
Akamai price target raised to $64 from $57 at DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on Akamai to $64 and kept his Neutral rating after Q4 earnings. The analyst says the company remains the industry leading provider of content delivery services while also building a security business, though competitive pressures in the media business has weighed on its topline growth and pressured margins. Kelleher believes that Akamai will continue to pare costs in CDN to remain competitive, emerging as a more diversified company over the longer term.
NTGR Netgear
$57.05

-10.35 (-15.36%)

10/25/17
RAJA
10/25/17
NO CHANGE
RAJA
Amazon Key perceived as negative for Netgear, says Raymond James
Raymond James analyst Simon Leopold says the announcement of Amazon Key (AMZN) is likely to be perceived by the market as a negative for Netgear (NTGR). It is unclear, however, if Amazon's goal with Key is to open up camera options to include retail products as well various alarm monitoring providers, Leopold tells investors in a research note. Shares of Netgear, which is reporting results tonight, are down 4% to $48.40 in midday trading. Also lower following Amazon's announcement is Alarm.com (ALRM) and Allegion (ALLE).
01/12/18
BWSF
01/12/18
NO CHANGE
Target $75
BWSF
Netgear price target raised to $75 from $60 at BWS Financial
BWS Financial analyst Hamed Khorsand raised his price target for Netgear to $75 citing the company's continued performance during the holidays, coupled with website traffic statistics. The analyst believes Netgear is seeing better than expected sell through in both Arlo and Orbi that should enable it to report revenue above the provided guidance range. He keeps a Buy rating on the shares.
11/28/17
BWSF
11/28/17
NO CHANGE
Target $60
BWSF
Buy
Netgear sellouts could be early sign of revenue upside, says BWS Financial
BWS Financial analyst Hamed Khorsand noted that Netgear's (NTGR) Arlo line of IP cameras are sold out at many retailers and online, particularly on Amazon.com (AMZN). While still early, the data suggests Netgear could top its current Q4 revenue guidance, said Khorsand, who has a Buy rating and $60 price target on the stock.
12/18/17
RAJA
12/18/17
UPGRADE
RAJA
Outperform
Netgear upgraded to Outperform from Market Perform at Raymond James
Raymond James analyst Tavis McCourt upgraded Netgear to Outperform with a $62 price target following positive channel checks over the holiday season. McCourt said demand indicators remain strong for both Arlo and Orbi product lines driven by the emphasis on smart home technology at major retail partners as well as technological advantages versus the competition. The analyst said Nest and Amazon competitive threats have been less meaningful and Ring success does not appear to be materially impacting Arlo trends. The analyst raised 2018 earnings estimate to $2.92 from $2.80 and initiated a 2019 estimate of $3.36.
MTSI Macom
$19.21

-11.15 (-36.73%)

02/07/18
LEHM
02/07/18
DOWNGRADE
Target $26
LEHM
Equal Weight
Macom downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Blayne Curtis downgraded Macom to Equal Weight and cut his price target for the shares to $26 from $40. The analyst calls the gross margin weakness in last night's quarter the "final straw." He is stepping to the sidelines pending "concrete proof" that the business is back on track.
02/07/18
NEED
02/07/18
NO CHANGE
Target $34
NEED
Buy
Macom price target lowered to $34 from $42 at Needham
Needham analyst N. Quinn Bolton lowered his price target on Macom to $34 after Q1 earnings came in at the low end of prior guidance. Bolton says the NG product gross margins are expected to remain under pressure due to "faster-than-expected move to lower ASP products in both the Data Center and Telecom segment", but should bottom in Q2 as higher margin products ramp later in the year. The analyst keeps his Buy rating on Macom, saying the company's forecasts are likely to prove to be conservative with "several secular drivers on the horizon".
02/07/18
CHLM
02/07/18
NO CHANGE
Target $36
CHLM
Buy
Macom price target lowered to $36 from $46 at Craig-Hallum
Craig-Hallum analyst Richard Shannon lowered his price target for Macom to $36 from $46, citing soft March quarter guide, which he believes should be bottom. The analyst reiterates a Buy rating on the shares.
CMG Chipotle
$272.21

-32.12 (-10.55%)

02/07/18
MAXM
02/07/18
NO CHANGE
Target $410
MAXM
Buy
Chipotle price target lowered to $410 from $425 at Maxim
Maxim analyst Stephen Anderson lowered his price target on Chipotle to $410 after Q4 earnings, saying the 0.9% SSS were below his target of 1.5% while also pointing to increased restaurant level investments. The analyst keeps his Buy rating and also maintains his FY18 SSS view of 4%-5%, stating that Chipotle has comps drivers ahead.
02/07/18
FBCO
02/07/18
NO CHANGE
Target $275
FBCO
Neutral
Chipotle price target lowered to $275 from $330 at Credit Suisse
Credit Suisse analyst Jason West lowered his price target for Chipotle to $275 from $330 following quarterly results. The analyst believes shares seem likely to remain range-bound until the new CEO is hired and his/her strategic turnaround can be assessed by the market. The analyst reiterates a Neutral rating on the shares.
02/07/18
BERN
02/07/18
NO CHANGE
Target $500
BERN
Outperform
Chipotle price target lowered to $500 from $564 at Bernstein
Bernstein analyst Sara Senatore lowered her price target for Chipotle to $500 from $564 as she lowers long-term margins to reflect stepped up investment. The analyst says that traffic holding steady despite a price increase is a "relief," and if Chipotle can avoid another safety scare, better executed advertising and growth in the 2nd make line should support topline. She reiterates an Outperform rating on the shares.
MX MagnaChip
$9.85

-1.35 (-12.05%)

05/03/17
05/03/17
NO CHANGE

MagnaChip reports Q1 adjusted EPS 1c, consensus (9c)
Reports Q1 revenue $161.7M, consensus $160M.
05/10/17
SBSH
05/10/17
INITIATION
Target $10.5
SBSH
Neutral
MagnaChip initiated with a Neutral at Citi
Citi analyst Atif Malik started MagnaChip with a Neutral rating and $10.50 price target. The analyst views the shares as fairly valued.
05/10/17
05/10/17
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. FactSet (FDS) initiated with a Hold at Deutsche Bank. 2. Cadence Bancorporation (CADE) was initiated with an Overweight at Stephens and an Outperform at Baird. 3. MagnaChip (MX) initiated with a Neutral at Citi. 4. Semtech (SMTC) initiated with an Outperform at Baird. 5. Lion Biotechnologies (LBIO) initiated with a Buy at Rodman & Renshaw. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MU

Micron

$59.46

0.23 (0.39%)

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Samsung

$0.00

(0.00%)

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Micron

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Samsung

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TSRO

Tesaro

$45.68

5.64 (14.09%)

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Roche

$0.00

(0.00%)

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Tesaro

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Roche

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FMI

Foundation Medicine

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-0.15 (-0.11%)

CLVS

Clovis

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2.38 (5.20%)

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CMCSA

Comcast

$32.74

-0.07 (-0.21%)

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Comcast

$0.00

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12:56
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Comcast to raise Fox assets offer to $41 per share, Fox Business reports »

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Comcast

$32.74

-0.07 (-0.21%)

CMCSK

Comcast

$0.00

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FOX

21st Century Fox

$47.26

2.98 (6.73%)

FOXA

21st Century Fox

$47.84

3.13 (7.00%)

DIS

Disney

$106.21

0.01 (0.01%)

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WGO

Winnebago

$45.35

4.95 (12.25%)

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Thor Industries

$104.40

6.09 (6.19%)

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Winnebago

$45.35

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THO

Thor Industries

$104.40

6.09 (6.19%)

REVG

REV Group

$16.08

0.25 (1.58%)

PII

Polaris Industries

$124.94

0.34 (0.27%)

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BIG

Big Lots

$41.16

0.39 (0.96%)

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PZZA

Papa John's

$55.29

3.26 (6.27%)

12:40
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Timely sweep buyer of Papa John's weeklys »

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General news
FX Action: USD-JPY »

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AAL

American Airlines

$42.29

0.78 (1.88%)

12:37
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American asks government not to use planes for separated children »

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AEP

American Electric

$66.87

(0.00%)

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SWEPCO says LPSC approves proposed Wind Catcher Energy Connection project »

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KO

Coca-Cola

$43.44

-0.16 (-0.37%)

12:25
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Conference/Events
The Executives' Club of Chicago to hold a meeting »

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  • 20

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SPY

SPDR S&P 500 ETF Trust

$276.40

0.92 (0.33%)

12:20
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Aggressive call spreads in SPYders »

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FB

Facebook

$202.58

5.12 (2.59%)

12:17
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Facebook tests 'subscription groups' for administrators »

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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

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SIG

Signet Jewelers

$60.04

2.91 (5.09%)

12:15
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Signet Jewelers put volume heavy and directionally bearish »

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SPX

S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$276.27

0.79 (0.29%)

12:14
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Technical Take: SPDR S&P 500 ETF round-trips to session highs at midday »

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TSRO

Tesaro

$44.08

4.04 (10.09%)

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Clovis

$47.48

1.74 (3.80%)

12:11
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Tesaro, Clovis analyst commentary  »

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TSRO

Tesaro

$44.08

4.04 (10.09%)

CLVS

Clovis

$47.48

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ATUS

Altice USA

$17.52

0.42 (2.46%)

12:09
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Altice says U.S .mobile service available in 2019,names Jean-Charles Nicolas SVP »

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FOXA

21st Century Fox

$47.86

3.15 (7.05%)

, DIS

Disney

$106.00

-0.2 (-0.19%)

12:01
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FOXA

21st Century Fox

$47.86

3.15 (7.05%)

DIS

Disney

$106.00

-0.2 (-0.19%)

CMCSA

Comcast

$32.77

-0.04 (-0.12%)

GE

General Electric

$12.86

-0.105 (-0.81%)

WBA

Walgreens Boots Alliance

$67.72

3.11 (4.81%)

SBUX

Starbucks

$52.40

-5.03 (-8.76%)

ORCL

Oracle

$42.86

-3.43 (-7.41%)

FDX

FedEx

$253.85

-4.495 (-1.74%)

AMZN

Amazon.com

$1,755.30

19.56 (1.13%)

JPM

JPMorgan

$108.08

0.5 (0.46%)

BRK.A

Berkshire Hathaway

$285,450.00

-810 (-0.28%)

I

Intelsat

$19.52

3.46 (21.54%)

SYNA

Synaptics

$54.39

5.58 (11.43%)

DLGNF

Dialog Semiconductor

$0.00

(0.00%)

FOX

21st Century Fox

$47.24

2.96 (6.68%)

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T

AT&T

$32.02

-0.37 (-1.14%)

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Periodicals
AT&T plans to acquire all of Otter Media, Recode reports »

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SHI

Sinopec Shanghai

$63.23

-4.37 (-6.46%)

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Sinopec Shanghai falls -6.4% »

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ORCL

Oracle

$42.91

-3.38 (-7.30%)

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Hot Stocks
Oracle falls -7.3% »

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NEW

Puxin Limited

$26.90

-2.8 (-9.43%)

12:00
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06/20
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Puxin Limited falls -10.9% »

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ATU

Actuant

$28.40

2.45 (9.44%)

12:00
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06/20
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Actuant rises 9.7% »

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WGO

Winnebago

$45.75

5.35 (13.24%)

12:00
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12:00
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Winnebago rises 13.6% »

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