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ABC

AmerisourceBergen

$96.62

7.17 (8.02%)

, WBA

Walgreens Boots Alliance

12:13
02/13/18
02/13
12:13
02/13/18
12:13

On The Fly: Top stock stories at midday

Stocks on Wall Street were a bit lower at midday, though trading has been very calm compared to the volatility seen over the last few weeks. Investors may be staying sidelined in anticipation of tomorrow's CPI report for January given the recent anxiety around wages, inflation and treasury yields. ECONOMIC EVENTS: There weren't any major U.S. economic reports released. COMPANY NEWS: Shares of AmerisourceBergen (ABC) rose 8.5% after The Wall Street Journal reported that Walgreens Boots Alliance (WBA) has made a takeover approach to the drug distributor, in which the pharmacy operator already holds a 26% stake. While the news gave a bump to Amerisource, several of its drug distribution services peers were not being lifted in sympathy. The weight on the sector was likely due to reports that said Amazon (AMZN) is seeking to expand its medical supplies business and that the e-commerce giant's joint venture with Berkshire Hathaway (BRK.A) and JPMorgan (JPM) is aiming to cut out drug distributors such as Amerisource, Cardinal Health (CAH) and McKesson (MCK)... PepsiCo (PEP) shares were fractionally higher at midday after the company reported better than expected fourth quarter sales and profits. The soda and snack food maker also increased its dividend by 15% and announced a new $15B share repurchase program. MAJOR MOVERS: Among the notable gainers was Under Armour (UAA), whose Class A shares jumped 16% after the athletic apparel maker reported better than expected fourth quarter sales. Also higher following their earnings reports were Veeco (VECO) and Chegg (CHGG), which gained 18.5% and 17%, respectively. Among the noteworthy losers were Patterson Companies (PDCO) and Henry Schein (HSIC), which fell 7% and 8.5%, respectively, after the Federal Trade Commission said it is suing the dental products distributors for conspiring to refuse to provide discounts. Also lower following its earnings reports was Brighthouse Financial (BHF), which slid 7%. INDEXES: Near midday, the Dow was down 85.59, or 0.35%, to 24,515.68, the Nasdaq was down 1.40, or 0.02%, to 6,980.57, and the S&P 500 was down 4.58, or 0.17%, to 2,651.42.

ABC

AmerisourceBergen

$96.62

7.17 (8.02%)

WBA

Walgreens Boots Alliance

AMZN

Amazon.com

$1,386.23

46.63 (3.48%)

BRK.A

Berkshire Hathaway

$297,000.00

-1940 (-0.65%)

JPM

JPMorgan

$112.49

0.75 (0.67%)

CAH

Cardinal Health

$65.26

-2.77 (-4.07%)

MCK

McKesson

$144.90

-4.12 (-2.76%)

PEP

PepsiCo

$111.93

0.75 (0.67%)

UAA

Under Armour; also tag UA

$16.37

2.1375 (15.02%)

VECO

Veeco

CHGG

Chegg

$18.98

2.62 (16.01%)

BHF

Brighthouse Financial

$58.23

1.25 (2.19%)

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ABC AmerisourceBergen
$96.62

7.17 (8.02%)

02/13/18
JEFF
02/13/18
NO CHANGE
Target $93
JEFF
Buy
Walgreens deal for AmerisourceBergen would be 'headscratcher,' says Jefferies
Jefferies analyst Brian Tanquilut says that while Walgreens Boots Alliance (WBA) acquiring AmerisourceBergen (ABC) would be accretive to earnings, it would be a "headscratcher" for investors. The companies already have a joint venture that affords both the strategic value that combining would provide, Tanquilut tells investors in a research note after the Wall Street Journal reported that Walgreens approached AmerisourceBergen a few weeks ago. The analyst has a Buy rating on Walgreens with a $93 price target. He adds that the potential deal would allow Walgreens to further expand its U.S. business.
02/13/18
LEER
02/13/18
NO CHANGE
LEER
Walgreens may seek to acquire AmerisourceBergen sooner than expected, says Leerink
Leerink analyst David Larsen notes that The Wall Street Journal reported that Walgreens (WBA) has approached AmerisourceBergen (ABC) about a potential takeover. The analyst is surprised that talks of such a large transaction have surfaced so quickly following the Rite Aid (RAD) deal, but says he has always believed that Walgreens at some point would seek to acquire either Express Scripts (ESRX) or AmerisourceBergen. Given the broad-based speculation in the business press about this deal, it is possible shares of Express Scripts will trade off, Larsen contends.
02/13/18
WELS
02/13/18
NO CHANGE
WELS
AmerisourceBergen acquisition by Walgreens makes sense, says Wells Fargo
Commenting on The Wall Street Journal report saying Walgreens (WBA) has approached AmerisourceBergen (ABC) in a takeover attempt and the companies remain early in their discussions, Wells Fargo analyst Peter Costa tells investors he believes the acquisition makes sense given the already existing long-term partnership and limited ability to merge laterally. Further, the analyst believes a potential combination could help lower costs and wring out synergies in the U.S. drug distribution channel, and better position Walgreens in the face of increasing competitive threat from a possible Amazon (AMZN) entry. However, a merger might risk alienating AmerisourceBergen's retail pharmacy customers that compete with Walgreens' pharmacies, he contends.
02/13/18
LOOP
02/13/18
NO CHANGE
Target $90
LOOP
Buy
AmerisourceBergen acquisition by Walgreens would model U.K., says Loop Capital
Loop Capital analyst Andrew Wolf believes that a Walgreens (WBA) and AmerisourceBergen (ABC) full merger would have similar attributes to that of the vertically integrated pharmacy model that Walgreens operates in the U.K. If completed, this transaction would come sooner than the analyst would have anticipated likely spurred by the rapid changes in pharmacy and healthcare occurring around Walgreens. Ultimately, Wolf views this strategic response positively as it would better position a combined company to navigate in the face of industry change and possibly even as a disrupter. He reiterates a Buy rating and $90 price target on Walgreens' shares.
WBA Walgreens Boots Alliance

AMZN Amazon.com
$1,386.23

46.63 (3.48%)

02/13/18
MACQ
02/13/18
NO CHANGE
Target $1750
MACQ
Outperform
Amazon's Twitch aggregate viewership continues to rise, says Macquarie
Macquarie analyst Benjamin Schachter says Amazon's (AMZN) Twitch aggregate viewership continues to rise, and Twitch is now bigger than CNN (TWX). While eSports as a whole is becoming a more concrete opportunity, the analyst notes that which games and genres will be the most popular/viewed eSports over time is unclear. Schachter also highlights that the Overwatch League launched to peak views of over 408K and over 10M unique viewers across the opening week, and that display ads on Amazon properties like Twitch are meaningful contributors to Other revenue, which grew 58% to $4.65B in 2017. He reiterates an Outperform rating and $1,750 price target on Amazon's shares.
02/13/18
DADA
02/13/18
NO CHANGE
Target $1800
DADA
Buy
Amazon.com investors should take advantage of pullback, says DA Davidson
DA Davidson analyst Tom Forte keeps his Buy rating and $1,800 on Amazon.com but says that investors should take advantage of the latest pullback to add to their positions. In addition to valuation, Forte cites the press reports on the latest hiring of Jennifer Salke as the new head of Amazon Studios, thereby filling "an important void after a potential period of disruption" and bringing one of its most significant areas of investment - proprietary content - back on track. The analyst notes that among Salke's prior accomplishments as the President of NBC Entertainment were hit shows such as "This Is Us", "Glee", "Modern Family", and "Prison Break".
02/13/18
NEED
02/13/18
NO CHANGE
NEED
Needham a buyer of Medical Technologies product makers on Amazon headlines
After The Wall Street Journal report claiming that Amazon (AMZN) is attempting to become a major hospital supplier, Needham analyst Mike Matson said that he believes the e-commerce giant has typically disrupted middlemen much more than manufacturers. The analyst, who thinks Amazon's model may work for "lower tech" products but is unlikely to work with "higher tech" products, would be a buyer of Medical Technologies product maker stocks if they are down on weakness related to the headline risk represented by Amazon. However, Matson notes that he believe that Cantel Medical (CMD), CONMED (CNMD), Medtronic (MDT), Stryker (SYK) and Teleflex (TFX) generate a portion of their sales from "lower tech" products. Other stocks in MedTech manufacturing include AtriCure (ATRI), Cardiovascular Systems (CSII), Hill-Rom (HRC), K2M Group (KTWO), Mazor Robotics (MZOR), Zimmer Biomet (ZBH), Boston Scientific (BSX), Globus Medical (GMED), NuVasive (NUVA) and Wright Medical (WMGI).
BRK.A Berkshire Hathaway
$297,000.00

-1940 (-0.65%)

02/05/18
BERN
02/05/18
NO CHANGE
BERN
More pronounced risks to drug supply chain from Amazon coalition, says Bernstein
Bernstein analyst Lance Wilkes thinks the risks to the drug supply chain from Amazon (AMZN), JPMorgan (JPM) and Berkshire Hathaway (BRK.A; BRK.B) healthcare joint venture are much more pronounced than risks to traditional MCOs. The analyst thinks the coalition could acquire a transparency PBM, effectively creating an employer PBM Co-op.
01/31/18
CHLM
01/31/18
NO CHANGE
CHLM
Amazon consortium could be longer-term health care disruptor, says Craig-Hallum
Craig-Hallum analyst Kevin Ellich says that Amazon (AMZN), Berkshire Hathaway (BRK.A; BRK.B), and JPMorgan (JPM) new company focused initially on technology solutions to provide simplified, high-quality, and transparent healthcare for their employees and families at a reasonable cost could be a longer-term health care disruptor but it may a little premature to jump to conclusions.
01/31/18
FBCO
01/31/18
NO CHANGE
FBCO
No impact on pharma/biotech from Amazon/JPM/Berkshire coalition, says Credit Suisse
Commenting on the news that Amazon (AMZN), JPMorgan (JPM) and Berkshire Hathaway (BRK.A; BRK.B) are partnering to offer healthcare services to their employees, Credit Suisse analyst Vamil Divan says he does not anticipate any impact on the pharmaceutical or biotechnology sectors in the near or immediate term. However, he acknowledged that the biopharma pricing and distribution models include some perverse incentives that could be ripe for potential disruption.
01/31/18
BERN
01/31/18
NO CHANGE
BERN
Bernstein not expecting Amazon/JPMorgan/Berkshire coalition to become insurer
Bernstein analyst Lance Wilkes notes that Amazon (AMZN), JPMorgan (JPM) and Berkshire Hathaway (BRK.A; BRK.B) announced a plan to partner to offer healthcare services to their employees. The analyst does not expect this coalition or new company to become a health insurer, or to create meaningful disruption in core functions of the MCO. Wilkes thinks these three companies will create a new company that will focus on address four high impact areas of healthcare, namely shift to value based care, pharmacy costs, keeping people health/population health management, and consumer engagement. While he believes the retail pharmacy effort of Amazon would not be housed in this coalition, Wilkes argues that this new company may contract with a to-be-developed Amazon online pharmacy.
JPM JPMorgan
$112.49

0.75 (0.67%)

02/05/18
BWSF
02/05/18
NO CHANGE
Target $194
BWSF
Sell
LendingTree lost JPMorgan as mortgage lending customer, says BWS Financial
BWS Financial analyst Hamed Khorsand reports that LendingTree (TREE) has lost JPMorgan Chase (JPM) as a mortgage lending customer, calling it the company's second "high-profile" mortgage lender loss in about a quarter. The loss of JPMorgan matters both because of how many loans it originates but also due to the read-through that the loss has on the concept of LendingTree's calling center adding value for the lender, according to Khorsand, who keeps a Sell rating and $194 price target on LendingTree shares.
02/12/18
KBWI
02/12/18
UPGRADE
KBWI
Outperform
JPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette
02/13/18
KBWI
02/13/18
UPGRADE
Target $127
KBWI
Outperform
JPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl upgraded JPMorgan to Outperform with an unchanged price target of $127. The analyst views the recent pullback in the shares as a buying opportunity.
02/13/18
02/13/18
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. JPMorgan (JPM) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Brian Kleinhanzl saying he views the recent pullback in the shares as a buying opportunity. 2. Total (TOT) upgraded to Overweight from Equal Weight at Morgan Stanley and to Strong Buy from Outperform at Raymond James. 3. Celgene (CELG) upgraded to Overweight from Equal Weight at Barclays with analyst Geoff Meacham saying the current valuation largely reflects the risk. 4. Quest Diagnostics (DGX) upgraded to Outperform from Neutral at Credit Suisse with analyst A.J. Rice saying he believes the company has "substantial runway on several fronts," including its Optum partnership related to revenue cycle management, which he believes could reduce bad debts and claims denials. 5. Boeing (BA) upgraded to Buy from Hold at Edward Jones. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CAH Cardinal Health
$65.26

-2.77 (-4.07%)

11/30/17
JEFF
11/30/17
NO CHANGE
JEFF
Jefferies sees drugstore sentiment improving with no Amazon news
Investors were anticipating an announcement from Amazon.com (AMZN) regarding a pharmacy strategy around Thanksgiving due to recent media reports and the resulting sell-side speculation, Jefferies analyst Brian Tanquilut tells investors in a research note. With no Amazon pharmacy entry announced one week removed from the holiday, the analyst believes investor sentiment over the drug supply chain may gradually improve, at least in the near-term. He notes that the price-to-earnings multiples of Walgreens Boots Alliance (WBA) and CVS Health (CVS) have already declined amid speculation of an Amazon entry. Tanquilut acknowledges, however, that the Amazon overhang will not completely go away. The analyst has Buy ratings on UnitedHealth (UNH) and Walgreens, and Hold ratings on AmerisourceBergen (ABC), Cardinal Health (CAH), CVS and McKesson (MCK).
12/04/17
DBAB
12/04/17
INITIATION
Target $64
DBAB
Hold
Cardinal Health initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Glen Santangelo started Cardinal Health with a Hold rating and $64 price target. The analyst believes uncertainty around drug pricing and the potential for integration risk with Cordis and the Patient Recovery acquisitions warrant a "more prudent approach" to the shares.
12/04/17
LEER
12/04/17
NO CHANGE
LEER
Amazon entry into healthcare markets focused on medical supplies, says Leerink
Leerink analyst David Larsen says that his recent research around Amazon's (AMZN) licensing activity has shown that the company's entry into healthcare markets is, at least for now, focused on medical supplies and devices rather than pharmaceuticals. The analyst believes Owens & Minor (OMI), Cardinal Health (CAH) and Henry Schein (HSIC) are most exposed but that it will take several years for Amazon Business to scale up manufacturer supply relationships to take significant share. Although the top and bottom line impact may be small over the next year or two, Larsen remains cautious on the group as multiples continue to reflect the Amazon threat as well as pricing and volume headwinds.
01/04/18
EVER
01/04/18
INITIATION
Target $67
EVER
In Line
Cardinal Health initiated with an In Line at Evercore ISI
Evercore ISI started Cardinal Health with an In Line rating and $67 price target.
MCK McKesson
$144.90

-4.12 (-2.76%)

01/24/18
JEFF
01/24/18
UPGRADE
Target $205
JEFF
Buy
McKesson upgraded to Buy from Hold at Jefferies
Jefferies analyst Brian Tanquilut upgraded McKesson to Buy and raised his price target for the shares to $205 from $165. The combination of stabilizing generic drug pricing, a discounted valuation relative to peers and higher earnings estimates due to tax reform will "boost investor interest this year and push the stock's multiple to more appropriate levels," Tanquilut tells investors in a research note. He sees 20% upside from current share levels.
01/24/18
01/24/18
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. McKesson (MCK) upgraded to Buy from Hold at Jefferies analyst Brian Tanquilut saying the combination of stabilizing generic drug pricing, a discounted valuation relative to peers and higher earnings estimates due to tax reform will "boost investor interest this year and push the stock's multiple to more appropriate levels." 2. Cree (CREE) upgraded to Hold from Sell at Williams Capital. 3. 3M (MMM) upgraded to Buy from Neutral at Hilliard Lyons with analyst Spencer Joyce saying he sees as a tactical opportunity ahead of its earnings report as he expects estimates to rise following the company's fourth quarter earnings release. 4. Energen (EGN) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Evan Calio saying he expects oil markets to tighten and gas to remain weak in 2018. 5. Capital City Bank (CCBG) was upgraded to Outperform from Market Perform at Hovde Group and to Hold from Sell at Sandler O'Neill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/12/18
COWN
02/12/18
NO CHANGE
COWN
Recent pullback in drug distributors a buying opportunity, says Cowen
Cowen analyst Charles Ryhee said the recent pullback in drug distributors is unwarranted given the space's improving underlying fundamentals. He said the core distribution business is seeing stable generic pricing for both buy-side and sell-side and he believes concerns regarding likely proposed Medicare Part B changes are overblown. Ryhee reiterated his Outperform rating on both McKesson (MCK) and AmerisourceBergen (ABC) shares.
01/23/18
NEED
01/23/18
NO CHANGE
Target $180
NEED
Buy
McKesson price target raised to $180 from $173 at Needham
Needham analyst Kevin Caliendo raised his price target on McKesson to $180 and kept his Buy rating ahead of the company's Q3 earnings next week. The analyst expects McKesson to update on the impact of U.S. corporate tax changes on earnings, anticipating it to be a net positive with a forward rate below the currently projected 24% in FY18.
PEP PepsiCo
$111.93

0.75 (0.67%)

01/30/18
BERN
01/30/18
NO CHANGE
Target $124
BERN
Market Perform
Dr Pepper Snapple price target raised to $124 from $92 at Bernstein
Bernstein analyst Ali Dibadj raised his price target for Dr Pepper Snapple to $124 from $92 after the company and Keurig Green Mountain announced a definitive merger agreement to create public company Keurig Dr Pepper. While the analyst views this merger as good for Dr Pepper Snapple shareholders, there are unanswered questions about the prospects as a combined entity, with revenue synergies remaining unclear, synergy targets appearing stretched, and the Coca-Cola (KO)/PepsiCo (PEP) distribution partnership remaining a risk. Dibadj reiterates a Market Perform rating on Dr Pepper Snapple's shares.
01/29/18
01/29/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PepsiCo (PEP) initiated with a Hold at SunTrust. 2. Synlogic (SYBX) initiated with an Overweight at Piper Jaffray. 3. Centennial Resource Development (CDEV) initiated with a Buy at Guggenheim. 4. Zynerba (ZYNE) initiated with a Buy at Ladenburg. 5. Radius Health (RDUS) initiated with an Overweight 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.
01/29/18
RHCO
01/29/18
INITIATION
Target $125
RHCO
Hold
PepsiCo initiated with a Hold at SunTrust
As reported earlier, SunTrust analyst William Chappell initiated PepsiCo (PEP) with a Hold rating and a price target of $125. Chappell contends that after 5 years of price and promotion with Coca-Cola (KO), the companies' next phase will likely see "price increases or at least less promotional activity" on some beverage items. The analyst also notes that the investor concerns about the snacking category are overblown, pointing some recovery in Q4, while the positive FX, emerging markets, and tax reform dynamics create more tailwinds.
01/29/18
RHCO
01/29/18
INITIATION
Target $125
RHCO
Hold
PepsiCo initiated with a Hold at SunTrust
SunTrust initiated PepsiCo with a Hold and $125 price target.
UAA Under Armour; also tag UA
$16.37

2.1375 (15.02%)

02/13/18
JEFF
02/13/18
NO CHANGE
Target $24
JEFF
Buy
Jefferies says buy Under Armour after quarter shows brand is strong
Jefferies analyst Randal Konik says this morning's sales beat and strength in direct-to-consumer as well as international prove the brand is "strong globally." Wholesale was muted but not unexpected given the environment, Konik tells investors in a post-earnings research note. The analyst believes this quarter will mark a trough in the earnings revision cycle. He sees better sales, margins, and earnings in the coming quarters and recommends buying the stock. Konik keeps a Buy rating on Under Armour with a $24 price target.
02/09/18
JEFF
02/09/18
NO CHANGE
JEFF
Buy
Under Armour discounting down dramatically in last three months, says Jefferies
Jefferies analyst Randal Konik says his firms' February webscrapes point to better traction at Under Armour (UAA) with discounts down in each of the last three months. The company's discounts decreased from 70% in November to 23% in February, down more than 30% year-over-year this month, Konik tells investors in a research note. Further, a survey of 200 footwear retailers shows the Under Armour HOVR Phantom is building momentum, the analyst adds. In addition, the survey shows Nike (NKE) is gaining back share from adidas (ADDYY) in running across the U.S. and Europe. In Basketball, Nike continues to dominate, while Under Armour's Curry 4 is resonating well with consumers, Konik writes. The analyst has a Buy rating on Under Armour and Hold rating on Nike.
02/06/18
JEFF
02/06/18
NO CHANGE
Target $72
JEFF
Hold
Jefferies sees too much management turnover at lululemon
The level of management turnover at lululemon during "this critical juncture in the company's growth trajectory gives us some pause," Jefferies analyst Randal Konik tells investors in a research note following the resignation of CEO Laurent Potdevin. The analyst sees better opportunities elsewhere, namely in shares of Under Armour (UAA), given lululemon's "high" valuation high and "less plentiful" margin opportunity going forward. He maintains a Hold rating on lululemon with a $72 price target.
01/16/18
01/16/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UA, UAA) downgraded to Underperform from Neutral at Macquarie with analyst Laurent Vasilescu citing weaker North America revenues, flat Connected Fitness revenues, international revenues of up 21% year-over-year, gross margin pressure, and higher SG&A assumptions. 2. Verizon (VZ) downgraded to Neutral from Buy at MoffettNathanson. 3. Lockheed Martin (LMT) and Rockwell Collins (COL) were downgraded to Market Perform from Outperform at Wells Fargo. 4. Spirit Airlines (SAVE) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi saying he believes Spirit will benefit this year from an improving demand and revenue environment, but that its higher revenue risk relative to potential competitive responses to its expected capacity growth is not fully reflected in the stock at current levels. 5. Finisar (FNSR) downgraded to Sell from Neutral at Goldman Sachs with analyst Doug Clark saying risks of oversupply and competition are heating up in the optical component landscape. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
VECO Veeco

07/25/17
BOFA
07/25/17
NO CHANGE
BOFA
Solar sector may be bottoming, First Solar best positioned, says BofA/Merrill
BofA/Merrill analyst Krish Sankar believes the Solar sector may have bottomed in Q2 2017 with installs falling about 23% compared to Q2 2016 as last year's rush was driven by fears of an ITC expiration. Sankar believes global demand is set to increase 2% in 2017, followed by mid-to-high single digit growth going forward. His top solar pick heading into earnings is First Solar (FSLR), followed by Buy rated Veeco (VECO) in the energy efficiency/LED space. The analyst remains sidelined, until there is clarity on future sponsors, in SunPower (SPWR) and 8Point3 (CAFD).
08/04/17
DBAB
08/04/17
DOWNGRADE
Target $30
DBAB
Hold
Veeco downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Vishal Shah downgraded Veeco Instruments to Hold and cut his price target for the shares to $30 from $35 citing signs of increasing competition following the Q2 results. While the MOCVD market remains strong, Veeco spoke of increasing competition in China and also highlighted temporary pause in advanced packaging market, Shah tells investors in a post-earnings research note.
08/30/17
DBAB
08/30/17
NO CHANGE
Target $21
DBAB
Hold
Veeco price target lowered to $21 from $30 at Deutsche Bank
Deutsche Bank analyst Vishal Shah lowered his estimates for Veeco Instruments after his channel checks pointed to increasing competition in China. AMEC released a competitive second generation four-chamber tool with a larger reactor size and is gaining traction with several Chinese customers, while TOPEC is also starting to gain traction, Shah tells investors in a research note. The analyst believes, however, that the near term outlook for MOCVD fundamentals remains strong. He cut his price target for Veeco shares to $21 and keeps a Hold rating on the shares.
10/24/17
KEYB
10/24/17
DOWNGRADE
KEYB
Sector Weight
Veeco downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Daniel Baksht downgraded Veeco Instruments to Sector Weight saying he sees a "triple threat" in the company's MOCVD business related to share loss, pricing risk, and potential market slowdown in 2018. Channel checks with competitors and a component supplier for MOCVD equipment has the analyst "incrementally concerned" about the competitive dynamics in Veeco's MOCVD business.
CHGG Chegg
$18.98

2.62 (16.01%)

02/13/18
BRRR
02/13/18
NO CHANGE
BRRR
Chegg price target raised to $22 from $19 at Barrington
Barrington analyst Alexander Paris, Jr. reiterated an Outperform rating pm Chegg and raised his price target to $22 from $19. Paris was optimistic on Chegg after the company's earnings beat expectations for EPS, revenue, gross margins, and adjusted EBITDA, and FY18 guidance was raised.
11/20/17
SBSH
11/20/17
INITIATION
Target $19
SBSH
Buy
Chegg initiated with a Buy at Citi
Citi analyst Nithin Pejaver started Chegg with a Buy rating and $19 price target. The analyst believes the online learning ecosystem provides a "long runway for growth."
07/26/17
JEFF
07/26/17
NO CHANGE
Target $17
JEFF
Buy
Chegg remains a top small-cap pick at Jefferies
Jefferies analyst Brian Fitzgerald raised his price target for Chegg shares to $17 from $13 following the company's Q2 results. The stock remains a top small-cap pick as it continues to yield more predictable revenue and better profitability, Fitzgerald tells investors in a post-earnings research note. He believes the company's EBITDA margins can double by 2020 and that the valuation still looks attractive, even with the shares rallying 93% year-to-date. The analyst keeps a Buy rating on Chegg.
07/26/17
LSCM
07/26/17
DOWNGRADE
Target $14
LSCM
Hold
Chegg downgraded to Hold from Buy at Lake Street
Lake Street analyst Eric Martinuzzi downgraded Chegg to Hold citing valuation with the shares up 93% year-to-date. The analyst raised his price target for the shares to $14 from $12 citing last night's "solid" beat and raise quarter, but believes the company's "executional margin of error has gotten much smaller" at current share levels.
BHF Brighthouse Financial
$58.23

1.25 (2.19%)

01/02/18
DBAB
01/02/18
INITIATION
Target $70
DBAB
Buy
Brighthouse Financial initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Joshua Shanker started Brighthouse Financial with a Buy rating and $70 price target. The analyst believes the current valuation gives downside protection while U.S. corporate tax reform should be a "boon" for the company over time.
01/02/18
JPMS
01/02/18
DOWNGRADE
Target $61
JPMS
Underweight
Brighthouse Financial downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Jimmy Bhullar downgraded Brighthouse Financial (BHF) to Underweight and cut his price target for the shares to $61 from $70. "Poor" return on equity, marginal capital generation and challenging business trends will preclude an expansion in the stock's valuation multiple, Bhullar tells investors in a research note. The analyst prefers shares of Lincoln National (LNC) over Brighthouse.
01/02/18
JPMS
01/02/18
UPGRADE
Target $87
JPMS
Overweight
Lincoln National upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jimmy Bhullar upgraded Lincoln National (LNC) to Overweight and raised his price target for the shares to $87 from $74. The analyst expects "healthy" business trends, steady capital deployment and an attractive valuation to drive share outperformance. He calls Lincoln and Prudential (PRU) his top Life Insurance picks for 2018. Bhullar is negative on Brighthouse Financial (BHF) and Voya Financial (VOYA) heading into 2018.
10/18/17
GSCO
10/18/17
INITIATION
Target $63
GSCO
Neutral
Brighthouse Financial initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Alex Scott started Brighthouse Financial with a Neutral rating and $63 price target while initiating coverage of the life insurance industry with a Neutral coverage view.

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Dova Pharmaceuticals 2.5M share Secondary priced at $32.00 »

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Kazia Therapeutics

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Obsidian Energy

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SSR Mining

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Invacare

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General Motors

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Triton International

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Plains All American

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HP Inc.

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