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ALK

Alaska Air

$65.97

-0.79 (-1.18%)

, PDCO

Patterson Companies

$31.66

0.45 (1.44%)

10:20
02/15/18
02/15
10:20
02/15/18
10:20

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alaska Air (ALK) downgraded to Neutral from Buy at UBS with analyst Darryl Genovesi saying he believes consensus estimates are too high and in particular reflect too rosy a RASM view given progressively more intense competition in its network. 2. Patterson Companies (PDCO) downgraded to Underweight from Neutral at JPMorgan with analyst Michael Minchak saying the company faces more near-term headwinds and uncertainties relative to other names he covers. He believes it will take time for Patterson's initiatives to bear fruit. 3. Cemex (CX) downgraded to Sell from Buy at UBS with analyst Mauricio Serna says he expects the share selloff to continue given the company's "struggling" international operations and "still high" debt. 4. Atara Biotherapeutics (ATRA) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying the recent 200%-plus rally in the shares is not supported by fundamentals. 5. Tanger Factory (SKT) downgraded to Underperform from In Line at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

ALK

Alaska Air

$65.97

-0.79 (-1.18%)

PDCO

Patterson Companies

$31.66

0.45 (1.44%)

CX

Cemex

$7.44

-0.18 (-2.36%)

ATRA

Atara Biotherapeutics

$48.35

3.3 (7.33%)

SKT

Tanger Factory

$21.89

0.08 (0.37%)

  • 01

    Mar

  • 04

    Apr

ALK Alaska Air
$65.97

-0.79 (-1.18%)

01/26/18
COWN
01/26/18
NO CHANGE
COWN
Airline sector weakness a buying opportunity, says Cowen
Cowen analyst Helane Becker noted airline stocks came under pressure as investors grew concerned about capacity growth by United Continental (UAL) and fears it would destroy the fare structure. The analyst noted the capacity growth is in small markets where they might make a difference but that RASM is up year-over-year. Becker would be a buyer of Alaska Air (ALK), Delta Air (DAL), American Airlines (AAL) and Southwest Air (LUV) on the pullback, but would avoid United Continental shares.
01/30/18
JPMS
01/30/18
DOWNGRADE
Target $67
JPMS
Underweight
Alaska Air downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Jamie Baker downgraded Alaska Air Group (ALK) to Underweight and lowered his price target for the shares to $67 from $74. The analyst notes that Alaska Air is the only name where he had to cut his 2019 estimates. He also believes the company "remains in the United crosshairs in San Francisco." Alaska is also slightly more expensive than JetBlue on 2019 earnings, Baker tells investors in a research note. The analyst this morning also Southwest (LUV) to Neutral and upgraded both JetBlue (JBLU) and United Continental (UAL) to Overweight.
01/30/18
01/30/18
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. AbbVie (ABBV) downgraded to Underperform from Market Perform by analyst Alex Arfaei, who said the risk/reward has "meaningfully changed" after the rise in the stock price, adding that the new focus on fundamentals beyond the benefits of tax reform suggests "significant price erosion in immunology driven by interchangeable biosimilar anti-TNFs, and lower effectiveness of the 'Rebate Trap' to block access to cheap biosimilars". 2. iRobot (IRBT) downgraded to Neutral from Buy at Sidoti by analyst Frank Camma, who cited valuation as shares approach his $98 price target. 3. Horizon Global (HZN) downgraded to Market Perform from Outperform at BMO Capital by analyst Gerrick Johnson, who said that while he still sees "strong demand in key end markets," operation execution, rising input costs, and high debt levels are concerning. The analyst added that the company may have "lost the faith of investors" after a 30% drop in the stock price following the guidance cut. 4. Yum! Brands (YUM) downgraded to Neutral from Buy at Nomura Instinet by analyst Mark Kalinowshi, who cited valuation and concerns a possible 2018 slowdown in U.S. same-store-sales. 5. Alaska Air (ALK) downgraded to Underweight from Neutral at JPMorgan by analyst Jamie Baker, who noted that the airline is the only name where he had to cut his 2019 estimates. He also believes the company "remains in the United crosshairs in San Francisco." The analyst also downgraded Southwest (LUV) to Neutral from Overweight, and said he believes better relative value exists elsewhere in the Airlines sector. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/15/18
UBSW
02/15/18
DOWNGRADE
Target $70
UBSW
Neutral
Alaska Air downgraded to Neutral from Buy at UBS
UBS analyst Darryl Genovesi downgraded Alaska Air to Neutral from Buy as he believes consensus estimates are too high and in particular reflect too rosy a RASM view given progressively more intense competition in its network. Genovesi lowered his price target to $70 from $77 on Alaska Air shares.
PDCO Patterson Companies
$31.66

0.45 (1.44%)

02/13/18
WBLR
02/13/18
NO CHANGE
WBLR
William Blair sees FTC suit pressuring Henry Schein, Patterson shares
The Federal Trade Commission yesterday announced it was filing an antitrust suit against Henry Schein (HSIC), Patterson Companies (PDCO), and Benco, the three largest dental distributors in the United States, William Blair analyst John Kreger tells investors in a research note. The analyst says that while this is not the first time anti-competitive allegations have been made against the companies, the FTC complaint will likely "add credence to the antitrust argument, increase the visibility of the risk, and exacerbate investor concerns about the sustainability of pricing and margins." Kreger believes this could put further pressure on the valuations of Henry Schein and Patterson in the near term, particularly until there is some clear evidence of a spending rebound in dental. He has an Outperform rating on Henry Schein and Market Perform rating on Patterson.
02/15/18
JPMS
02/15/18
DOWNGRADE
Target $36
JPMS
Underweight
Patterson Companies downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Lisa Christine Gill downgraded Patterson Companies to Underweight and cut his price target for the shares to $36 from $40.
02/15/18
JPMS
02/15/18
DOWNGRADE
Target $36
JPMS
Underweight
Patterson Companies downgraded to Underweight with $36 target at JPMorgan
JPMorgan analyst Michael Minchak downgraded Patterson Companies to Underweight saying the company faces more near-term headwinds and uncertainties relative to other names he covers. He believes it will take time for Patterson's initiatives to bear fruit. As such, the shares are likely to be a "show me" story over the next year, Minchak tells investors in a research note. Further, his enthusiasm for Dental Distribution names is tempered by the sustained slowdown in U.S. consumables growth and potential for incremental margin pressure.
02/15/18
JPMS
02/15/18
INITIATION
Target $77
JPMS
Neutral
Henry Schein assumed with a Neutral at JPMorgan
JPMorgan analyst Michael Minchak assumed coverage of Henry Schein (HSIC) with a Neutral rating and $77 price target. The analyst believes the valuation remains high relative to the company's longer-term earnings growth targets as well as other names he covers. Minchak this morning also downgraded Patterson Companies (PDCO) to Underweight.
CX Cemex
$7.44

-0.18 (-2.36%)

10/23/17
SBSH
10/23/17
UPGRADE
Target $9.2
SBSH
Neutral
Cemex upgraded to Neutral from Sell at Citi
Citi analyst Dan McGoey upgraded Cemex to Neutral citing valuation following the recent pullback in the shares. The analyst maintains a $9.20 price target for the stock.
12/19/17
SANT
12/19/17
DOWNGRADE
SANT
Hold
Cemex downgraded to Hold from Buy at Santander
12/19/17
SBSH
12/19/17
UPGRADE
Target $10
SBSH
Buy
Cemex upgraded to Buy from Neutral at Citi
Citi analyst Dan McGoey upgraded Cemex to Buy and raised his price target for the shares to $10 from $9.20. The analyst sees a "compelling valuation" following the recent pullback in the shares. Further, the analyst is "incrementally positive" on the company's major markets following recent meetings.
02/15/18
UBSW
02/15/18
DOWNGRADE
Target $6.5
UBSW
Sell
Cemex downgraded to Sell from Buy at UBS
UBS analyst Mauricio Serna double downgraded Cemex to Sell from Buy and cut his price target for the shares to $6.50 from $10.20. The analyst expects the share selloff to continue given the company's "struggling" international operations and "still high" debt. Seeking approval for 25% equity capital issuance for potential acquisitions adds uncertainty when Cemex is losing market share and has eroding margins, Serna tells investors in a research note. He reduced his estimates for the company "significantly."
ATRA Atara Biotherapeutics
$48.35

3.3 (7.33%)

01/26/18
COWN
01/26/18
INITIATION
COWN
Outperform
Atara Biotherapeutics initiated with an Outperform at Cowen
Cowen analyst Eric Schmidt started Atara Biotherapeutics with an Outperform rating and no price target. The analyst expects the shares to advance as the company's programs for off-the-shelf T cell therapies for treating cancer advance.
01/26/18
01/26/18
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. Williams Scotsman (WSC) initiated with an Outperform at Oppenheimer. 2. RedHill Biopharma (RDHL) initiated with a Buy at Nomura Instinet. 3. BioDelivery Sciences (BDSI) initiated with a Buy at Seaport Global. 4. NuStar GP Holdings (NSH) initiated with a Buy at B. Riley FBR. 5. Atara Biotherapeutics (ATRA) 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.
01/30/18
ADAM
01/30/18
NO CHANGE
Target $70
ADAM
Buy
Atara Biotherapeutics enterprise value underappreciated, says Canaccord
Canaccord analyst John Newman compared Atara Biotherapeutics to competitors and believes its enterprise value is being underappreciated by the market. Newman reiterates his Buy rating on Atara on expectations of Phase 3 success of its lead drug candidate and keeps a $70 price target on the shares.
02/15/18
SBSH
02/15/18
DOWNGRADE
Target $25
SBSH
Sell
Atara Biotherapeutics downgraded to Sell from Neutral at Citi
Citi analyst Yigal Nochomovitz downgraded Atara Biotherapeutics to Sell while raising his price target for the shares to $25 from $18. The recent 200%-plus rally in the shares is not supported by fundamentals, Nochomovitz tells investors in a research note. He believes Atara is "being swept into the M&A play driven by the CAR-T names" and notes the company is not a CAR-T play. The analyst says he hasn't seen new data or other de-risking events to support the valuation re-rating.
SKT Tanger Factory
$21.89

0.08 (0.37%)

11/03/17
BOSC
11/03/17
UPGRADE
BOSC
Neutral
Tanger Factory upgraded to Neutral from Underperform at Boenning & Scattergood
Boenning & Scattergood analyst Floris van Dijkum upgraded Tanger Factory to Neutral citing relative valuation and underperformance year-to-date.
11/09/17
BOFA
11/09/17
UPGRADE
BOFA
Neutral
Tanger Factory upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Craig Schmidt upgraded Tanger Factory to Neutral citing valuation and maintained a $27 price target.
12/14/17
HDLY
12/14/17
NO CHANGE
HDLY
Hilliard Lyons Top Ideas for Year-End 2017
Hilliard Lyons Research named its Top Ideas for Year-End 2017. They are: Pinnacle Financial (PNFP), Disney (DIS), J.M. Smucker (SJM), NextEra Energy (NEE), Zoetis (ZTS), Leggett & Platt (LEG), South Jersey Industries (SJI), Tanger Factory (SKT), Physicians Realty Trust (DOC), VMware (VMW), AT&T (T), and American Water (AWK).
02/15/18
EVER
02/15/18
DOWNGRADE
EVER
Underperform
Tanger Factory downgraded to Underperform from In Line at Evercore ISI

TODAY'S FREE FLY STORIES

CHK

Chesapeake

$2.39

-0.19 (-7.36%)

12:20
12/14/18
12/14
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12/14/18
12:20
Options
Ratio put spread in Chesapeake as shares drop 7.3% and fall to 52-week lows »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
12/14/18
12/14
12:17
12/14/18
12:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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12/14
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Technical Analysis
NYSE market internals summary »

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JNJ

Johnson & Johnson

$133.26

-14.54 (-9.84%)

, SBUX

Starbucks

$64.61

-2.29 (-3.42%)

12:15
12/14/18
12/14
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12:15
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks opened lower…

JNJ

Johnson & Johnson

$133.26

-14.54 (-9.84%)

SBUX

Starbucks

$64.61

-2.29 (-3.42%)

ADBE

Adobe

$233.37

-14.34 (-5.79%)

COST

Costco

$207.71

-18.7 (-8.26%)

BEL

Belmond

$24.67

7 (39.62%)

LVMUY

LVMH

$0.00

(0.00%)

KANG

iKang Healthcare

$20.30

2.03 (11.11%)

IDRA

Idera Pharmaceuticals

$5.34

-1.26 (-19.09%)

CDE

Coeur Mining

$3.89

-0.165 (-4.07%)

03/08/13
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03/08/13
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  • 14

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  • 14

    Dec

PFE

Pfizer

$43.45

-1.105 (-2.48%)

12:14
12/14/18
12/14
12:14
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12:14
Hot Stocks
Pfizer announces new $10B share repurchase program »

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  • 18

    Dec

PFE

Pfizer

$43.52

-1.03 (-2.31%)

12:13
12/14/18
12/14
12:13
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12:13
Hot Stocks
Pfizer raises quarterly dividend 6% to 36c per share »

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  • 18

    Dec

PFE

Pfizer

$43.52

-1.03 (-2.31%)

12:12
12/14/18
12/14
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12:12
Hot Stocks
Breaking Hot Stocks news story on Pfizer »

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  • 18

    Dec

ECA

Encana

$5.93

-0.295 (-4.74%)

12:10
12/14/18
12/14
12:10
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12:10
Options
Call buyers in Encana as shares suffer additional losses »

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TNXP

Tonix Pharmaceuticals

$2.76

0.02 (0.73%)

12:08
12/14/18
12/14
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12:08
Hot Stocks
CVI Investments reports 9.9% passive stake in Tonix Pharmaceuticals »

In a regulatory filing,…

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CYH

Community Health

$3.94

-0.45 (-10.25%)

12:00
12/14/18
12/14
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12:00
Hot Stocks
Community Health falls -10.2% »

Community Health is down…

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JNJ

Johnson & Johnson

$132.65

-15.15 (-10.25%)

12:00
12/14/18
12/14
12:00
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12:00
Hot Stocks
Johnson & Johnson falls -10.3% »

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$101.00

-17 (-14.41%)

12:00
12/14/18
12/14
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12:00
Hot Stocks
VelocityShares 3x Long Natural Gas ETN falls -14.4% »

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CIVI

Civitas Solutions

$14.68

2.05 (16.23%)

12:00
12/14/18
12/14
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Hot Stocks
Civitas Solutions rises 14.6% »

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  • 08

    Mar

SPY

SPDR S&P 500 ETF Trust

$262.10

-3.31 (-1.25%)

12:00
12/14/18
12/14
12:00
12/14/18
12:00
Options
$10.5M sweep of SPDR 500 Trust upside calls »

$10.5M sweep of SPDR 500…

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$73.25

9.63 (15.14%)

12:00
12/14/18
12/14
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Hot Stocks
VelocityShares 3x Inv Natural Gas ETN rises 14.7% »

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BEL

Belmond

$24.69

7.015 (39.70%)

12:00
12/14/18
12/14
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Hot Stocks
Belmond rises 39.8% »

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SNE

Sony

$51.75

-0.45 (-0.86%)

, T

AT&T

$30.21

0.3 (1.00%)

11:56
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On The Fly
Box Office Battle: 'Spider-Man: Into the Spider-Verse' swings into theaters »

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SNE

Sony

$51.75

-0.45 (-0.86%)

T

AT&T

$30.21

0.3 (1.00%)

CMCSA

Comcast

$36.68

-0.07 (-0.19%)

CMCSK

Comcast

$0.00

(0.00%)

DIS

Disney

$113.21

-0.17 (-0.15%)

FOXA

21st Century Fox

$49.26

0.13 (0.26%)

FOX

21st Century Fox

$49.02

0.14 (0.29%)

LGF.A

Lionsgate

$16.00

0.25 (1.59%)

LGF.B

Lionsgate

$14.90

0.3 (2.05%)

VIA

Viacom

$31.85

0.22 (0.70%)

VIAB

Viacom

$29.28

0.41 (1.42%)

03/08/13
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  • 23

    Jan

  • 23

    Jan

  • 30

    Jan

  • 20

    Mar

EPD

Enterprise Products

$26.15

-0.15 (-0.57%)

11:55
12/14/18
12/14
11:55
12/14/18
11:55
Options
Enterprise Products put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 22

    Jan

NTR

Nutrien

$47.01

-0.02 (-0.04%)

11:49
12/14/18
12/14
11:49
12/14/18
11:49
Hot Stocks
Nutrien increases existing share repurchase program »

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LNC

Lincoln National

$54.54

0.11 (0.20%)

11:48
12/14/18
12/14
11:48
12/14/18
11:48
Hot Stocks
Lincoln Financial appoints Leon Roday as General Counsel »

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JNJ

Johnson & Johnson

$131.24

-16.56 (-11.20%)

11:44
12/14/18
12/14
11:44
12/14/18
11:44
Recommendations
Johnson & Johnson analyst commentary  »

J&J $40B loss in…

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SWFT

Swift Transportation

$0.00

(0.00%)

, WERN

Werner

$30.52

-0.48 (-1.55%)

11:41
12/14/18
12/14
11:41
12/14/18
11:41
Hot Stocks
DOJ sues freight companies for systematic overcharging of shipments »

The United States has…

SWFT

Swift Transportation

$0.00

(0.00%)

WERN

Werner

$30.52

-0.48 (-1.55%)

JBHT

J.B. Hunt

$93.32

-2.57 (-2.68%)

ODFL

Old Dominion

$125.75

-0.79 (-0.62%)

KNX

Knight-Swift

$26.88

-0.44 (-1.61%)

ARCB

ArcBest

$35.22

-0.38 (-1.07%)

YRCW

YRC Worldwide

$4.13

-0.3 (-6.77%)

03/08/13
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LOW

Lowe's

$93.98

-0.37 (-0.39%)

11:40
12/14/18
12/14
11:40
12/14/18
11:40
Options
Lowes calls active »

Lowes calls active.…

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  • 27

    Feb

JNJ

Johnson & Johnson

$132.94

-14.86 (-10.05%)

11:38
12/14/18
12/14
11:38
12/14/18
11:38
Recommendations
Johnson & Johnson analyst commentary  »

Johnson & Johnson…

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LPTX

Leap Therapeutics

$2.92

0.07 (2.46%)

11:36
12/14/18
12/14
11:36
12/14/18
11:36
Conference/Events
Leap Therapeutics to hold a conference call »

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