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TSLA

Tesla

$327.17

-1.93 (-0.59%)

, X

U.S. Steel

$43.69

-0.66 (-1.49%)

06:22
03/10/18
03/10
06:22
03/10/18
06:22

Week in review: How Trump's policies moved stocks

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. TARIFFS ON STEEL, ALUMINUM: President Trump signed a proclamation on Thursday imposing a 25% tariff on steel imports and a 10% tariff on aluminum imports from all foreign countries, with the exception of Canada and Mexico for now while NAFTA negotiations are underway. The day before, House Republicans had signed a letter to the White House expressing "deep concern" over the potential tariffs. On Thursday, Politico reported that the GOP may block President Trump's tariffs proposal, as Senator Jeff Flake was expected to introduce legislation to nullify the proposal. Publicly traded metal producers include U.S. Steel (X), Century Aluminum (CENX), Alcoa (AA), and AK Steel (AKS). 2. NAMES VULNERABLE TO TRADE RETALIATION: The President's tariffs on aluminum and steel imports have elicited a number of negative reviews from corporate America. For instance, late last week the chair of the National Association of Home Builders, or NAHB, Randy Noel said: "These tariffs will translate into higher costs for consumers and U.S. businesses that use these products, including home builders." That sentiment was shared by Best Buy (BBY) CEO Hubert Joly and the CFO of Home Depot (HD), who both see tariffs as potentially harmful. Meanwhile, Exxon Mobil (XOM) chairman and CEO Darren Woods told CNBC that the news threatens to undo some of the improvements business saw from the administration's tax reform and deregulation efforts. Shares of U.S.-based auto manufacturers Ford (F) and General Motors (GM) could be hurt by higher input costs from steel. Machinery makers Terex (TEX), Oshkosh (OSK), Deere (DE) and Caterpillar (CAT) may also feel the squeeze as input costs rise. 3. CHINA TARIFF THREATS: Chinese manufacturers that supply U.S. multinationals from Walmart (WMT) to Nike (NKE) may be hit by potential tariffs being considered by President Donald Trump creating a ripple effect into American brands, Bloomberg reported earlier this week, citing Chinese manufacturers. Trump is weighing tariffs on imports ranging from shoes and clothing to consumer electronics, putting Chinese companies like Yue Yuen Industrial Holdings, which supplies Nike and Under Armour (UA, UAA), and Li & Fung (LFUGF), which has Walmart and Macy's (M) as customers, on the hook. 4. CHINA/U.S. CAR RULES: Earlier this week, Tesla (TSLA) CEO Elon Musk tweeted President Donald Trump saying, "Do you think the US & China should have equal & fair rules for cars? Meaning, same import duties, ownership constraints & other factors....For example, an American car going to China pays 25% import duty, but a Chinese car coming to the US only pays 2.5%, a tenfold difference...Also, no US auto company is allowed to own even 50% of their own factory in China, but there are five 100% China-owned EV auto companies in the US." Musk was responding to Trump's prior tweet that said, "China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon!" 5. EV TAX CREDIT: General Motors CEO Mary Barra urged Washington to expand electric-vehicle tax credit, a plea that would help the company and peers such as Tesla sell battery-powered vehicles, the Wall Street Journal reported on Wednesday. Certain car makers face the expiration of $7,500 income-tax credit that has applied to hundreds of thousands of electric car purchases since the Obama administration first began offering the credit, the report noted. 6. VIDEOGAMES: President Donald Trump met with several leaders of the video game industry on Thursday to discuss the potential role video game violence may have played in events such as the Parkland school shooting last month. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), Take-Two (TTWO), GameStop (GME), and Nintendo (NTDOY). "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.

TSLA

Tesla

$327.17

-1.93 (-0.59%)

X

U.S. Steel

$43.69

-0.66 (-1.49%)

CENX

Century Aluminum

$20.15

0.49 (2.49%)

AA

Alcoa

$47.86

0.39 (0.82%)

AKS

AK Steel

$5.26

-0.19 (-3.49%)

GM

General Motors

$37.84

(0.00%)

F

Ford

$10.73

0.12 (1.13%)

BBY

Best Buy

$73.82

0.57 (0.78%)

HD

Home Depot

$182.16

4.22 (2.37%)

XOM

Exxon Mobil

$74.56

0.44 (0.59%)

TEX

Terex

$41.06

1.18 (2.96%)

OSK

Oshkosh

$81.25

2.33 (2.95%)

DE

Deere

$167.93

6.87 (4.27%)

CAT

Caterpillar

$158.25

4.66 (3.03%)

WMT

Walmart

$88.72

0.8 (0.91%)

NKE

Nike

$66.30

1.19 (1.83%)

UA

Under Armour

$15.18

-0.11 (-0.72%)

UAA

Under Armour

$17.05

-0.11 (-0.64%)

M

Macy's

$28.88

-0.04 (-0.14%)

TTWO

Take-Two

$116.61

3.03 (2.67%)

ATVI

Activision Blizzard

$78.22

1.41 (1.84%)

EA

Electronic Arts

$128.49

-0.33 (-0.26%)

GME

GameStop

$15.85

0.21 (1.34%)

NTDOY

Nintendo

$57.30

0.45 (0.79%)

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    Jun

TSLA Tesla
$327.17

-1.93 (-0.59%)

02/08/18
COWN
02/08/18
NO CHANGE
Target $200
COWN
Underperform
Tesla production challenges remain, says Cowen
Cowen analyst Jeffrey Osborne noted Tesla's overall Q4 results were better than expected, but benefited from several one-time items, particularly ZEV credits, which were significantly higher than consensus estimates. He said production targets remain too aggressive and pointed out that Model 3 deposits were flat quarter-over-quarter. Osborne reiterated his Underperform rating, though he raised his price target to $200 from $180 on Tesla shares.
02/08/18
DBAB
02/08/18
NO CHANGE
Target $365
DBAB
Tesla price target raised to $365 from $310 at Deutsche Bank
Deutsche Bank analyst Rod Lache raised his price target for Tesla to $365 saying the company's cash burn subsided in Q4. One of the more noteworthy financial developments this quarter was that Tesla ended Q4 with $3.4 B in cash, down just slightly from the $3.5B in Q3, Lache tells investors in a post-earnings research note. The analyst believes that if Tesla's targets are reached, which he's not reflecting in his estimates, the company can achieve $28 per share in earnings by 2020. He sees execution risk, however, and keeps a Hold rating on Tesla.
03/08/18
SBSH
03/08/18
NO CHANGE
Target $347
SBSH
Neutral
Tesla price target lowered to $347 from $367 at Citi
Citi analyst Itay Michael lowered his price target for Tesla to $347 following the company's annual filing and Q4 results. To reflect the previously announced slower Model 3 ramp and other updated inputs, the analyst lowered his 2018-2020 earnings per share estimates to ($8.32), $4.89 and $12.30 from ($1.22), $5.07 and $14.21. Michael models a $1B free cash flow burn this year "aided to some extent by working capital as the Model 3 ramps." He believes Tesla shares "could stay fairly range bound" until the April production update. The analyst keeps a Neutral rating on the stock.
02/08/18
MSCO
02/08/18
NO CHANGE
Target $379
MSCO
Equal Weight
Tesla expectations potentially peaking, says Morgan Stanley
Morgan Stanley analyst Adam Jonas noted that Tesla's cash consumption in Q4 was better than both he and the market expected, though its automotive gross margin excluding ZEV credits was weaker than expected and its FY18 Model S and X volume guidance was "well below" his forecast. Jonas still thinks Tesla is fairly valued, with high risk and potentially peaking expectations, and he keeps an Equal Weight rating and $379 price target on the stock following the company's earnings report.
X U.S. Steel
$43.69

-0.66 (-1.49%)

03/08/18
FBCO
03/08/18
NO CHANGE
FBCO
Huntington Ingalls, U.S. Steel new number 1 Top Picks at Credit Suisse
Credit Suisse added four new number 1 to its Top Picks list, namely Huntington Ingalls (HII), Restaurant Brands (QSR), RSP Permian (RSPP). U.S. Steel (X) and upgraded eBay (EBAY).
03/09/18
JPMS
03/09/18
UPGRADE
Target $30
JPMS
Overweight
Commercial Metals upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Michael Gambardella upgraded Commercial Metals (CMC) to Overweight and raised his price target for the shares to $30 from $24 to reflect his expectation for higher steel prices. Tariffs from the 232 ruling and consolidation in the rebar market should lead to higher rebar prices, Gambardella tells investors in a research note. The analyst is also "doubling down" on U.S. Steel (X) and boosted his price target for the shares to $69.
03/08/18
FBCO
03/08/18
NO CHANGE
Target $55
FBCO
Outperform
U.S. Steel price target raised to $55 from $48 at Credit Suisse
Credit Suisse analyst Curt Woodworth raised his price target for U.S. Steel to $55 from $48 after the company announced its intention to restart one of two blast furnaces at their steelmaking facility in Granite City, Illinois. The analyst reiterates an Outperform rating on the shares.
03/09/18
COWN
03/09/18
NO CHANGE
COWN
Cowen sees upside for entire steel group with tariff decision
Cowen analyst Novid Rassouli said he sees upside for the entire steel group following the announced decision on tariffs for imported steel and aluminum. He said the entire steel group is trading at a discount to current spot steel prices. The analyst also believes Century Aluminum (CENX) will be the biggest beneficiary on the aluminum side, as he sees it as the best vehicle to capitalize. Publicly traded companies in the steel space include U.S. Steel (X), Steel Dynamics (STLD), AK Steel (AKS), Cleveland-Cliffs (CLF), Nucor (NUE) and ArcelorMittal (MT).
CENX Century Aluminum
$20.15

0.49 (2.49%)

12/20/17
12/20/17
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. Jack in the Box (JACK) downgraded to Hold from Buy at Jefferies with analyst Alexander Slagle saying he sees limited visibility for "big upside" following the sale of Qdoba. 2. MercadoLibre (MELI) downgraded to Sell from Neutral at Citi with analyst Paola Mello saying while free shipping has helped the company sustain high growth rates in the past two quarters, competition should intensify in key markets like Brazil, Mexico and Chile, as bricks-and-mortar retailers like Via Varejo, Magazine Luiza, and Falabella start to launch their own marketplace platforms. 3. Navistar (NAV) downgraded to Hold from Buy at Gabelli with analyst Brian Sponheimer saying the quarter was "outstanding" but recommends taking a "pause" given commodity costs inflation, structural cost increases, lower growth projections, and fair valuation. 4. Spectra Energy Partners (SEP) downgraded to Equal Weight from Overweight at Barclays with analyst Christine Cho saying she sees limited visibility for organic growth opportunities. 5. Century Aluminum (CENX) downgraded to Hold from Buy at Deutsche Bank with analyst Jeremy Kliewer saying he believes consensus estimates are yet yet to fully incorporate higher costs and may be overestimating 2018 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/20/17
DBAB
12/20/17
DOWNGRADE
Target $14
DBAB
Hold
Century Aluminum downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold and cut his price target for the shares to $14 from $20. The analyst lowered his 2018 EBITDA estimate for the company by 15% to reflect higher anticipated carbon costs. He believes consensus estimates are yet yet to fully incorporate higher costs and may be overestimating 2018 results.
10/30/17
JPMS
10/30/17
DOWNGRADE
Target $14.5
JPMS
Neutral
Century Aluminum downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Gambardella downgraded Century Aluminum to Neutral to reflect anticipated cost headwinds from higher alumina prices. The analyst expects a "significant margin squeeze" in Q1 of 2018 and lowered his price target for the shares to $14.50 from $22.
AA Alcoa
$47.86

0.39 (0.82%)

01/11/18
SBSH
01/11/18
NO CHANGE
Target $65
SBSH
Buy
Alcoa price target raised to $65 from $53 at Citi
Citi analyst Alexander Hacking raised his price target for Alcoa to $65 on the belief that "sustainably higher" aluminum prices, supported by the cost curve, will re-rate multiples higher. The analyst believes the stock looks inexpensive and he keeps a Buy rating on the shares.
12/20/17
FBCO
12/20/17
UPGRADE
Target $61
FBCO
Outperform
Credit Suisse upgrades Alcoa ahead of aluminum market tightening
Credit Suisse analyst Curt Woodworth upgraded Alcoa to Outperform from Neutral and raised his price target for the shares to $61 from $42. The aluminum market is set to tighten into 2018, as structural policies in China address captive coal plants and illegal smelters remain intact, Woodworth tells investors in a research note. The analyst sees downstream demand "sharply" recovering in Q1 of 2018 and views Alcoa's valuation as compelling at current levels. The company is set to become a capital return story with $525M of potential capital to be returned in 2018 via dividends or buybacks, Woodworth contends. Further, the analyst thinks Alcoa could be added to the S&P 500 index in 2018.
01/18/18
BOFA
01/18/18
NO CHANGE
Target $63
BOFA
Buy
Alcoa price target lowered to $63 from $67 at BofA/Merrill
BofA/Merrill analyst Timna Tanners lowered her price target for Alcoa to $63 from $67 following quarterly results. While the company reported above consensus 2018E EBITDA outlook, cost pressures dampened enthusiasm, the analyst notes. Nonetheless, Tanners reiterates a Buy rating on the shares given her above guidance EBITDA forecasts on a positive view on aluminum, and as she believes cash return to shareholders likely in H2 is a positive catalyst.
01/18/18
JPMS
01/18/18
NO CHANGE
Target $68
JPMS
Overweight
Alcoa price target raised to $68 from $55 at JPMorgan
JPMorgan analyst Michael Gambardella raised his price target for Alcoa to $68 following the company's Q4 results to reflect higher alumina and aluminum prices. The analyst notes, however, that higher raw material costs are acting as a partial offset. Alumina and aluminum prices will be supported by capacity cuts in China and Alcoa has "significant leverage" to these prices given its attractive cost structure, Gambardella tells investors in a post-earnings research note. He also thinks the stock could benefit from Alcoa potentially being added to the S&P 500 in the next few months. The analyst keeps an Overweight rating on the shares.
AKS AK Steel
$5.26

-0.19 (-3.49%)

02/20/18
MSCO
02/20/18
NO CHANGE
MSCO
U.S. Steel a key beneficiary of Section 232 scenarios, says Morgan Stanley
After the Department of Commerce released its report on U.S. investigations into the impact on national security from imports of steel mill products, Morgan Stanley analyst Piyush Sood explored the three steel import scenarios presented, saying he assign the highest probability to the "tariff+quota" scenario. In all scenarios, he sees outsized gains for pipe/tube/OCTG producers and a tighter flat rolled market, calling U.S. Steel (X) a "key beneficiary." He thinks other flat rolled producers - including Steel Dynamics (STLD), Nucor (NUE) and AK Steel (AKS) - would benefit from greater tightness, but sees U.S. Steel as the biggest beneficiary of higher pricing, he tells investors.
01/31/18
01/31/18
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 Market Perform from Outperform at BMO Capital with analyst Tim Long saying that while the press has recently speculated about the order cuts for iPhone X, which he says reflects his first quarter model for a "weaker mix," he is "more concerned by a secular change" for the iPhone product. AK Steel (AKS) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners saying AK Steel's "disappointing" first quarter and normalized earnings guidance is due to management's "commodity neutral approach," which limits benefits from higher steel prices. 3. U.S. Bancorp (USB) downgraded to Underweight from Neutral at JPMorgan with analyst Vivek Juneja saying the benefit from tax cuts and improving consumer spending are likely to be offset by increased tech spending. 4. Wayfair (W) downgraded to Accumulate from Buy at Gordon Haskett analyst Chuck Grom saying he believes it is important to remain disciplined with the stock at an all-time high, though Grom notes the rating change should not be interpreted as a concern for near-term sales trends, which he believes appear strong. 5. MetLife (MET) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Alex Scott citing ongoing uncertainty from an expanded reserve review following the announcement it will incur a $525M-$575M charge. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/02/18
FBCO
03/02/18
NO CHANGE
Target $48
FBCO
Outperform
Credit Suisse 'bullish' on U.S. steel sector following tariff announcement
Credit Suisse analyst Curt Woodworth said he is "bullish" on the U.S. steel sector following President Trump's announcement that he will implement 25% tariffs on steel and 10% tariffs on aluminum next week. In a research note to investors, Woodworth said his top picks in the sector are "volumetric winners" U.S. Steel (X) and Commercial Metals (CMC) and "price winners" Nucor (NUE) and Steel Dynamics (STLD), but he will await clarity on any exemption process before adjusting his price deck and earnings estimates.
GM General Motors
$37.84

(0.00%)

01/08/18
MSCO
01/08/18
NO CHANGE
MSCO
Equal Weight
Morgan Stanley says Cadillac, worth $13B to GM, can't be ignored for long
General Motors does not disclose profitability by brand, but Morgan Stanley analyst Adam Jonas believes Cadillac is probably larger and more profitable than recognized by most investors, he stated in a new note. The analyst, who values Cadillac at about $13B, or roughly $9 per GM share, believes this value cannot be ignored for long and he sees room for GM's current efforts to improve financial and strategic transparency for the brand to gain momentum. Jonas keeps an Equal Weight rating on GM shares.
02/12/18
SBSH
02/12/18
NO CHANGE
Target $70
SBSH
Buy
General Motors price target raised to $70 from $60 at Citi
Citi analyst Itay Michaeli raised his price target for General Motors to $70 from $60 citing greater confidence in his long-term potential upside case of $134 per share. The carmaker closed Friday up 70c to $41.46. The analyst views his new price target as "arguably conservative." The $70 per share target does not contemplate the "potential game-changing implications" of GM's leadership in autonomous vehicles as a Network, or robotaxis, Michaeli tells investors in a research note. The analyst believes GM's exposure to pickup trucks and robotaxi networks are "overlooked/misunderstood narratives." He keeps a Buy rating on the shares.
03/09/18
DBAB
03/09/18
NO CHANGE
DBAB
Deutshe Bank sees buying opportunities in Autos & Auto Parts
Deutsche Bank analyst Rod Lache attributes the recent selloff in Auto Industry stocks a confluence of factors, including rising rates, rising commodities/tariffs, and rising NAFTA risks. These represent a "triple-threat that has led to a resurgence of cyclical concerns," Lache tells investors in a research note. The analyst, while admitting limited visibility into the "most significant of these," the outlook for NAFTA, believes that investor concerns are overdone. He's a buyer of General Motors (GM), American Axle (AXL), and Lear (LEA) on weakness.
12/28/17
MSCO
12/28/17
NO CHANGE
MSCO
January to be busy for Autos and Shared Mobility names, says Morgan Stanley
Morgan Stanley analyst Adam Jonas previewed the January calendar for the Autos and Shared Mobility sector, noting that the Vegas CES takes place in the second week and the Detroit Auto Show occurs in the third week of next month. Judging from last year's shows and press releases in recent weeks, he expects "the vast majority" of prepared presentations will focus on autonomous driving, electric propulsion and new business models as companies seek to encourage recognition and valuation of "Auto 2.0 efforts" in the multiples of their stocks, he tells investors. Automakers covered by the firm include Fiat Chrysler (FCAU), Tesla (TSLA), General Motors (GM), Ferrari (RACE) and Ford (F). Auto suppliers covered include Magna (MGA), Goodyear Tire (GT), Adient (ADNT), Delphi Technologies (DLPH), Visteon (VC), BorgWarner (BWA), Aptiv (APTV) and Tenneco (TEN).
F Ford
$10.73

0.12 (1.13%)

10/31/17
MSCO
10/31/17
NO CHANGE
Target $10
MSCO
Underweight
Ford bull case view raised despite 'significant headwinds' at Morgan Stanley
Morgan Stanley analyst Adam Jonas raised his 2017 EPS estimate for Ford to near the midpoint of the company's guidance following its Q3 report and slightly increased his price target on the stock to $10 from $9. While he keeps an Underweight rating on Ford, stating that the headwinds it faces are significant, he also sees the "scope for an equally significant response" and raised his bull case to $25 from $18 given a sum-of-the-parts analysis under which he values Ford's truck business, including the F-series and others, at nearly $20 per share, Ford Europe, S. America and Asia Pacific at "slightly less than zero" and "Ford Future" at $3B, or 74c per Ford share.
02/01/18
NOMU
02/01/18
NO CHANGE
Target $11
NOMU
Neutral
Ford price target lowered to $11 from $12.80 at Nomura Instinet
Nomura Instinet analyst Anindya Das lowered his price target for Ford to $11 following a review of the company's Q4 results. The analyst now factors in a more adverse year-over-year headwind from commodity costs in 2018. He keeps a Neutral rating on Ford.
12/21/17
OPCO
12/21/17
NO CHANGE
Target $9
OPCO
Outperform
TeleNav extension with Ford should remove overhang, says Oppenheimer
Craig-Hallum analyst Steven Dyer notes that TeleNav (TNAV) announced preliminary Q2 results and amended its current agreement with Ford (F), which he believes is net/net positive for the P&L and should be a catalyst for shares. The analyst thinks the extension with Ford removes a major overhang on shares as it provides visibility for the next three years. Dyer reiterates an Outperform rating on TeleNav's shares, while lowering his price target on the stock to $9 from $12.
BBY Best Buy
$73.82

0.57 (0.78%)

03/05/18
FBCO
03/05/18
NO CHANGE
Target $74
FBCO
Neutral
Best Buy price target raised to $74 from $60 at Credit Suisse
Credit Suisse analyst Seth Sigman raised his price target for Best Buy to $74 from $60 following a "very strong" Q4. Nonetheless, the analyst reiterates a Neutral rating on the shares saying that while outperformance should continue, the 2H comparison is "daunting" and investments are expected to increase.
02/26/18
PIPR
02/26/18
NO CHANGE
Target $83
PIPR
Overweight
Best Buy price target raised to $83 from $68 at Piper Jaffray
Piper Jaffray analyst Peter Keith raised his price target for Best Buy to $83 heading into the company's Q4 earnings on Thursday. While Q4 should be "strong" following a "solid" holiday season for consumer electronics, guidance could disappoint the market in the near-term, Keith tells investors in a pre-earnings research note. The market tends to overreact to historically conservative guidance by Best Buy management, the analyst adds. As such, he recommends using any stock pullback on Thursday as a buying opportunity. He keeps an Overweight rating on the shares.
03/02/18
WEDB
03/02/18
NO CHANGE
Target $45
WEDB
Underperform
Best Buy guidance for positive FY19 comps at risk, says Wedbush
Wedbush analyst Michael Pachter "acknowledge[s] that we have been wrong on Best Buy," and is prepared to revisit his thesis should the company keep performing at this level in the upcoming quarters, though for now he keeps an Underperform rating on the stock, stating that its guidance for positive comps in FY19 is at risk due to very difficult comparisons, particularly in Q4. Pachter increased his price target on Best Buy shares to $45 from $38 following the company's Q4 earnings report.
03/01/18
LOOP
03/01/18
NO CHANGE
LOOP
Best Buy price target raised to $83 from $80 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on Best Buy to $83 from $80 and reiterated a Buy rating on shares, calling the ending to FY17 for Best Buy "storybook," with a large earnings beat and the best comparable sales growth in over a decade, confirming the firm's view that Best Buy can thrive in the "post-Amazon" environment.
HD Home Depot
$182.16

4.22 (2.37%)

02/22/18
BMOC
02/22/18
NO CHANGE
Target $213
BMOC
Outperform
Home Depot price target raised to $213 from $191 at BMO Capital
BMO Capital analyst Wayne Hood raised his price target on Home Depot to $213 after the company's Q4 earnings beat, FY18 outlook supported by strong housing metrics, and affirmed longer term targets. Hood keeps his Outperform rating on Home Depot, forecasting further benefits from tax reform, growth of e-commerce, and initiatives to drive the Pro segment penetration.
03/01/18
LOOP
03/01/18
INITIATION
Target $187
LOOP
Hold
Home Depot initiated with a Hold at Loop Capital
Loop Capital analyst Laura Champine started Home Depot with a Hold rating and $187 price target, contending that its margins are "at a self-imposed peak" as the company's commitment to continued share gains may put a lid on returns.
02/22/18
RHCO
02/22/18
NO CHANGE
Target $187
RHCO
Hold
Home Depot price target raised to $187 from $175 at SunTrust
SunTrust analyst Keith Hughes raised his price target on Home Depot to $187 after the company's Q4 earnings beat, with SSS rising 7.5% amid benefits of the hurricane recovery activity. Hughes keeps his Hold rating however, pointing to below-consensus FY18 outlook in spite of the lower tax rate and an extra reporting week. The analyst says he expects to see lower growth rates from Home Depot for the next several years.
03/02/18
03/02/18
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. Home Depot (HD), Lowe's (LOW), Tempur Sealy (TPX), Mohawk (MHK), Lumber Liquidators (LL) and Michaels (MIK) initiated with a Hold at Loop Capital. The firm also started Fortune Brands (FBHS) and Wayfair (W) with a Buy. 2. Aflac (AFL), Lincoln National (LNC), Brighthouse Financial (BHF), MetLife (MET) Unum (UNM), Principal Financial (PFG) and Reinsurance Group (RGA) initiated with a Neutral at UBS. The firm also initiated Voya (VOYA) and FGL Holdings (FG) with a Buy and Torchmark (TMK) and American Equity (AEL) with a Sell. 3. HP Enterprise (HPE) initiated with a Neutral at JPMorgan. 4. Caterpillar (CAT), Deere (DE), United Rentals (URI) and Wabco (WBC) initiated with an Overweight, Oshkosh (OSK), Terex (TEX), Cummins (CMI), CNH Industrial (CNHI) and REV Group (REVG) initiated with an Equal Weight and Paccar (PCAR) and Agco (AGCO) initiated with an Underweight at Morgan Stanley. 5. Conatus (CNAT) initiated with an Outperform at Oppenheimer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
XOM Exxon Mobil
$74.56

0.44 (0.59%)

03/08/18
RBCM
03/08/18
NO CHANGE
Target $90
RBCM
Sector Perform
Exxon Mobil price target raised to $90 from $85 at RBC Capital
RBC Capital analyst Biraj Borkhataria raised the price target on Exxon Mobil to $90 while keeping its Sector Perform rating. The analyst points to the company's higher investment levels and acceleration of its development program over the next 7 years leading to improving capital returns, but also notes that investors seem to be just as focused on the negative impact of the investment on profitability before giving the company credit for improving returns after 2020.
02/06/18
02/06/18
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. Radware (RDWR) downgraded to In-Line from Outperform at Imperial Capital by analyst Michael Kim, who reduced his estimates to reflect elevated uncertainty in the timing and magnitude of purchase orders, particularly from Tier 1 carriers. He sees limited downside from current share levels, however. 2. Micron (MU) downgraded to Hold from Buy at Summit Insights. Micron was upgraded to Strong Buy at Needham and to Overweight from Sector Weight at KeyBanc. 3. Exxon Mobil (XOM) downgraded to Underweight from Overweight at Barclays by analyst Paul Cheng, who recommended investors shift from Exxon Mobil to Chevron (CVX), a stock he upgraded this morning to Overweight. Exxon may not be able to maintain its historical valuation premium, Cheng tells investors in a research note. He thinks the company's valuation still reflects "rich historical norms," while the upstream's underlying fundamentals "appear to have suffered a structural deterioration." 4. Cirrus Logic (CRUS) downgraded to Hold from Buy Needham. 5. Catalent (CTLT) downgraded to Equal Weight from Overweight at Stephens by analyst Drew Jones, who believes there to be some conservatism in its guidance. However, he sees the potential for outperformance as less significant than in the past. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/18
LEHM
02/06/18
DOWNGRADE
Target $84
LEHM
Underweight
Exxon Mobil downgraded to Underweight from Overweight at Barclays
Barclays analyst Paul Cheng double downgraded Exxon Mobil (XOM) to Underweight from Overweight and lowered his price target for the shares to $84 from $91. The analyst recommends investors shift from Exxon Mobil to Chevron (CVX), a stock he upgraded this morning to Overweight. Exxon closed yesterday down $4.81 to $79.72. Exxon may not be able to maintain its historical valuation premium, Cheng tells investors in a research note. He thinks the company's valuation still reflects "rich historical norms," while the upstream's underlying fundamentals "appear to have suffered a structural deterioration." Exxon's upstream problem "may take years or even a decade to overcome," Cheng argues.
02/06/18
LEHM
02/06/18
UPGRADE
Target $135
LEHM
Overweight
Chevron upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Paul Cheng upgraded Chevron to Overweight and raised his price target for the shares to $135 from $130. The analyst recommends investors shift to Chevron from Exxon Mobil (XOM), a stock he double downgraded this morning to Underweight. Chevron's fundamentals are improving at a faster pace than many of the other mega majors, Cheng tells investors in a research note. He views the stock's risk/reward as attractive.
TEX Terex
$41.06

1.18 (2.96%)

03/02/18
MSCO
03/02/18
INITIATION
Target $45
MSCO
Equal Weight
Terex initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis initiated coverage of the Construction Machinery space, starting Terex with an Equal Weight rating and $45 price target given her caution about the aerial work platform replacement cycle and worries about an EU crane slowdown.
03/02/18
BARD
03/02/18
DOWNGRADE
Target $42
BARD
Neutral
Terex downgraded to Neutral at Baird
As reported previously, Baird analyst Mig Dobre downgraded Terex to Neutral from Buy as he believes tariffs are a broad negative for big steel users in the Machinery space and yesterday's announcement turned a potential negative into a reality. Dobre lowered his price target to $42 from $52 on Terex shares.
03/02/18
BARD
03/02/18
DOWNGRADE
BARD
Neutral
Terex downgraded to Neutral from Outperform at Baird
OSK Oshkosh
$81.25

2.33 (2.95%)

03/02/18
BARD
03/02/18
DOWNGRADE
Target $90
BARD
Neutral
Oshkosh downgraded to Neutral at Baird
As reported previously, Baird analyst Mig Dobre downgraded Oshkosh to Neutral from Buy as he believes tariffs are a broad negative for big steel users in the Machinery space and yesterday's announcement turned a potential negative into a reality. Dobre lowered his price target to $90 from $105 on Oshkosh shares.
03/02/18
BARD
03/02/18
DOWNGRADE
BARD
Neutral
Oshkosh downgraded to Neutral from Outperform at Baird
03/02/18
MSCO
03/02/18
INITIATION
Target $86
MSCO
Equal Weight
Oshkosh initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis initiated coverage of the Construction Machinery space, starting Oshkosh initiated with an Equal Weight rating and $86 price target, stating that its more stable defense growth is tempered by a potential pull-forward in access sales.
DE Deere
$167.93

6.87 (4.27%)

03/02/18
MSCO
03/02/18
INITIATION
Target $195
MSCO
Overweight
Deere initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis initiated coverage of the Agricultural Machinery space, starting Deere with an Overweight rating and $195 price target, citing its exposure to the North American replacement cycle along with a potential rebound in corn and soybean prices.
02/20/18
FBCO
02/20/18
NO CHANGE
Target $231
FBCO
Outperform
Deere price target raised to $231 from $198 at Credit Suisse
Credit Suisse analyst Jamie Cook raised his price target for Deere to $231 from $198 after reporting another "solid" print and guiding again ahead of expectations for 2018. The analyst reiterates an Outperform rating on the shares.
01/17/18
STFL
01/17/18
NO CHANGE
Target $184
STFL
Buy
Deere price target raised to $184 from $161 at Stifel
Stifel analyst Stanley Elliott raised his price target on Deere shares to $184 from $161, noting that several newsworthy items - including a recent sell side breakfast, December retail sales, and changes to management's short-term incentive programs - have left him incrementally more encouraged. Elliott maintains his Buy rating on Deere shares.
CAT Caterpillar
$158.25

4.66 (3.03%)

02/01/18
ARGS
02/01/18
NO CHANGE
Target $185
ARGS
Buy
Caterpillar price target raised to $185 from $155 at Argus
Argus analyst John Eade raised his price target on Caterpillar to $185 and kept his Buy rating, saying the management was optimistic about the outlook in its latest earnings report. Eade raises his FY18 EPS target to $9.20 from $8.30, forecasts more growth in FY19, and adds that shares continue to offer value despite the recent advance in the stock price. The analyst believes that various commodity and currency trends are turning in the company's favor, just as the management takes steps to aggressively reduce costs.
03/02/18
MSCO
03/02/18
INITIATION
Target $185
MSCO
Overweight
Caterpillar initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis initiated coverage of the Construction Machinery space, starting Caterpillar with an Overweight rating and $185 price target. Construction machinery stocks have outperformed since 2016, but a recovery in the global economy and key end markets leads Yakavonis to believe that there could be further to go, she tells investors. The firm's most recent dealer survey indicates points to inventories having been "right-sized" compared to 2016 and Caterpillar's strong top line momentum, further margin expansion opportunities, and attractive valuation make it her top pick in the space, she said.
02/15/18
UBSW
02/15/18
NO CHANGE
Target $190
UBSW
Buy
Competition analysis solidifies Caterpillar's market leadership, says UBS
UBS analyst Steven Fisher said an analysis of the construction equipment market shows that Caterpillar is by far the market leader. They have the highest capacity share, the best market quality, and low competitive overlap, said Fisher, who reiterated his Buy rating and $190 price target on Caterpillar shares.
WMT Walmart
$88.72

0.8 (0.91%)

03/02/18
OPCO
03/02/18
DOWNGRADE
OPCO
Perform
Walmart downgraded to Perform from Outperform at Oppenheimer
03/02/18
OPCO
03/02/18
DOWNGRADE
Target $93
OPCO
Perform
Oppenheimer 'no longer sees the case' for Walmart outperformance
Oppenheimer analysts Rupesh Parikh and Brian Nagel downgraded Walmart to Perform from Outperform on increasing concerns of dwindling e-commerce sales expansion and a more muted EPS growth view. Though the analysts, who cut their price target on shares to $93 from $110, remain "upbeat" on the retailer's strategic direction, they no longer see the case for Walmart outperformance and are "increasingly concerned" that the valuation at which shares trade could prove capped.
03/02/18
03/02/18
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. Walmart (WMT) downgraded to Perform from Outperform at Oppenheimer by analysts Rupesh Parikh and Brian Nagel, who said that while they remain "upbeat" on the retailer's strategic direction, they no longer see the case for Walmart outperformance and are "increasingly concerned" that the valuation at which shares trade could prove capped. 2. VMware (VMW) downgraded to Hold from Buy at Stifel by analyst Brad Reback, who sees "too much uncertainty" as parent Dell Technologies (DVMT) evaluates "potential business opportunities." He believes, however, that VMware continues to execute well following its "strong" Q4 results. 3. Ruth's Hospitality (RUTH) downgraded to Hold from Buy at Deutsche Bank by analyst Brett Levy, who said the company's progress and upside are largely priced in given the company's premium multiple, Levy tells investors in a research note. The analyst this morning also upgraded both Bloomin' Brands (BLMN) and Del Frisco's (DFRG) to Buy. 4. Opko Health (OPK) downgraded to Underweight from Neutral at JPMorgan by analyst Eric Joseph, who believes the company's Q4 miss raises "significant doubts" for the core diagnostics/ BRL business. He believes the stock will continue to see pressure going forward. 5. Pure Storage (PSTG) downgraded to Neutral from Positive at Susquehanna by analyst Mehdi Hosseini, who cited the lack of visibility, particularly around FlashBlade, to raise estimates from current levels, which would be necessary for the next leg of appreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/26/18
02/26/18
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. Walmart (WMT) initiated with a Neutral and Target (TGT) initiated with an Outperform at Credit Suisse. 2. Hudson (HUD) initiated with a Buy at Goldman Sachs, a Buy at UBS, an Equal Weight at Morgan Stanley and an Outperform at Credit Suisse. 3. VICI Properties (VICI) initiated with a Buy at Stifel, a Neutral at Goldman Sachs and an Equal Weight at Barclays. 4. Sage Therapeutics (SAGE) initiated with an Overweight at Morgan Stanley. 5. Sol-Gel Technologies (SLGL) initiated with a Buy at Jefferies and an Outperform at BMO 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.
NKE Nike
$66.30

1.19 (1.83%)

03/08/18
OTRG
03/08/18
NO CHANGE
OTRG
OTR checks indicate improved momentum for Nike in Q3
OTR Global says its channel checks indicate Nike's positive momentum is growing in fiscal Q3, driven by better lifestyle offerings and more effective marketing campaigns.
02/20/18
BARD
02/20/18
NO CHANGE
Target $158
BARD
Outperform
Snapchat wades into commerce leveraging Shopify, says Baird
Baird analyst Colin Sebastian believes that Shopify (SHOP) is trading higher likely on the headline of Nike's (NKE) Air Jordan III sell-out on the Shopify-powered e-commerce store within Snapchat (SNAP). The analyst thinks it highlights two points that support his overall positive Shopify thesis, namely that larger companies and brands continue to adopt Shopify's e-commerce platform, and that Snapchat could eventually open up another integrated selling channel for Shopify-powered e-Commerce sites. Sebastian reiterates an Outperform rating and $158 price target on Shopify's shares.
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.
03/02/18
JEFF
03/02/18
NO CHANGE
Target $55
JEFF
Buy
Foot Locker remains best way to play strong footwear cycle, says Jefferies
Jefferies analyst Randal Konik said he would be a buyer of Foot Locker (FL) on post-earnings weakness as the stock continues to be his favorite way to play the strong athletic footwear cycle and rise of sneaker culture. Konik said Nike (NKE) "needs" Foot Locker as part of its plan to curtail wholesale distribution and his recent proprietary data shows Nike share losses are reversing, which is positive for the retailer. The analyst, who adds that Foot Locker shares are "too cheap to ignore," keeps a Buy rating on the stock, though he lowered his price target to $55 from $61.
UA Under Armour
$15.18

-0.11 (-0.72%)

02/14/18
DADA
02/14/18
NO CHANGE
Target $17
DADA
Neutral
Under Armour price target raised to $17 at DA Davidson
DA Davidson analyst Andrew Burns raised his price target on Under Armour to $17 from $15 following a Q4 revenue beat, saying the company is "taking the right steps" to turn around its business, though recovery will be "difficult and slow". The analyst keeps his Neutral rating, noting that the outlook for North America remains muted while significant cost reductions will have to be realized in a "highly competitive market".
02/14/18
SBSH
02/14/18
NO CHANGE
Target $17
SBSH
Neutral
Under Armour price target raised to $17 from $15 at Citi
Citi analyst Kate McShane raised her price target for Under Armour to $17 and maintains a Neutral rating on the shares following yesterday's Q4 results. The quarter was better than the bear case and enough to send shares sharply higher given negative sentiment, McShane tells investors in a post-earnings research note. The analyst says not much has changed, however. Headwinds in North America are expected to remain, Under Armour's cost structure needs to be right sized, and it's still too soon to tell if the company is satisfying the consumer demand for lifestyle, McShane contends. She sees a balanced risk/reward setup for the shares.
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.
UAA Under Armour
$17.05

-0.11 (-0.64%)

02/14/18
RILY
02/14/18
NO CHANGE
Target $9
RILY
Sell
B. Riley FBR cuts Under Armour target to $9, maintains Sell rating
B. Riley FBR analyst Susan Anderson lowered her price target for Under Armour (UAA) to $9 from $10 and maintains a Sell rating on the stock following yesterday's Q4 results. The analyst believes the "growth multiple" is not justified with the company undertaking additional restructuring.
02/13/18
BARD
02/13/18
NO CHANGE
Target $22
BARD
Outperform
Under Armour price target raised to $22 from $17 at Baird
M Macy's
$28.88

-0.04 (-0.14%)

03/01/18
03/01/18
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. Wendy's (WEN) upgraded to Neutral from Sell at UBS by analyst Dennis Geiger, who has greater confidence in the company's free cash flow targets and same-store-sales momentum following his firm's survey of quick service restaurants consumers. The survey showed improved brand perceptions for Wendy's, Geiger said. 2. Kellogg (K) upgraded to Overweight from Neutral at Piper Jaffray by analyst Michael Lavery, who believes the valuation is attractive given his expectations for 8%-9% three-year earnings growth. A cash build should allow for earnings "flexibility and/or upside with upside to our buybacks assumptions," Lavery said. He believes expectations for Kellogg look achievable and maybe beatable. The analyst is more bullish on the shares following a meeting with management. 3. Carrizo Oil & Gas (CRZO) upgraded to Buy from Hold at Jefferies by analyst Mark Lear, who sees value in the shares following the recent underperformance. The company's Eagle Ford wells are tracking ahead of the updated type curve while the oil macro backdrop coming out of the Q4 earnings season is improving, Lear said. He believes the worst is behind Carrizo. 4. Eaton (ETN) upgraded to Neutral from Underweight at JPMorgan by analyst Ann Duignan, who said the risk/reward is balanced ahead of the company's analyst day. 5. Macy's (M) upgraded to Buy from Hold at Gordon Haskett by analyst Chuck Grom, who sees a pathway for improved comps over the next couple of years. This, coupled with the 27% reduction in float over the past decade, "yields a model with tremendous torque" and the potential for earnings upside, Grom tells investors in a research note. The analyst, who states he fully appreciates the long-term secular argument against the department store vertical, likes Macy's risk/reward profile at current share levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/02/18
DADA
03/02/18
NO CHANGE
Target $23
DADA
Buy
CommerceHub price target lowered to $23 from $27 at DA Davidson
DA Davidson analyst Tom Forte lowers his price target on CommerceHub (CHUBA) to $23 after a Q4 miss on earnings, revenue, and adjusted EBITDA. Longer term, Forte keeps his Buy rating on the company, citing some progress in terms of EBITDA margins approaching its 60% target and the addition of Macy's (M) to its customer base.
03/01/18
GDHS
03/01/18
UPGRADE
Target $36
GDHS
Buy
Gordon Haskett sees improved comps for Macy's, upgrades shares to Buy
Gordon Haskett analyst Chuck Grom upgraded Macy's to Buy from Hold with a $36 price target. The retailer closed yesterday up 3.5%, or $1.01, to $29.41. Post the company's Q4 earnings call, the analyst sees a pathway for improved comps over the next couple of years. This, coupled with the 27% reduction in float over the past decade, "yields a model with tremendous torque" and the potential for earnings upside, Grom tells investors in a research note. The analyst, who states he fully appreciates the long-term secular argument against the department store vertical, likes Macy's risk/reward profile at current share levels.
03/01/18
BMOC
03/01/18
NO CHANGE
Target $42
BMOC
Outperform
Macy's price target raised to $42 from $38 at BMO Capital
BMO Capital analyst Wayne Hood raised his price target on Macy's to $42 and kept his Outperform rating after the company's Q4 results came in "broadly better" than expected. Hood adds that Macy's management commentary gives his added confidence in "credible strategic initiatives" producing results and driving more sustainable positive comps. The analyst states that Macy's is "one of our top picks within our value bucket".
TTWO Take-Two
$116.61

3.03 (2.67%)

02/08/18
BARD
02/08/18
NO CHANGE
Target $137
BARD
Outperform
Baird says buy Take-Two on weakness as fundamentals remain positive
Baird analyst Colin Sebastian noted Take-Two reported solid Q3 results and said the fundamentals remain positive given the digital transition and strong product sales. The analyst expects the shares to trade lower while investors digest the earnings report, but he recommends being a buyer on any weakness. Sebastian reiterated his Outperform rating and $137 price target on Take-Two shares.
02/08/18
LEHM
02/08/18
NO CHANGE
Target $128
LEHM
Overweight
Take-Two price target raised to $128 from $121 at Barclays
Barclays analyst Ryan Gee raised his price target for Take-Two Interactive Software to $128 saying the company last night reported a "solid" Q3 earnings beat. The stock could see both multiple expansion and positive estimate revisions into Red Dead Redemption 2, Gee tells investors in a research note. He reiterates an Overweight rating on Take-Two.
02/09/18
HDLY
02/09/18
UPGRADE
HDLY
Neutral
Take-Two upgraded to Neutral from Underperform at Hilliard Lyons
Hilliard Lyons analyst Jeffrey Thomison upgraded Take-Two to Neutral from Underperform following the company's third quarter report and a subsequent pullback yesterday in the stock.
02/08/18
WEDB
02/08/18
NO CHANGE
Target $126
WEDB
Neutral
Take-Two price target raised to $126 from $95 at Wedbush
Wedbush analyst Michael Pachter raised his price target for Take-Two to $126 from $95 noting that the company has consistently delivered upside to guidance and consensus, making its shares attractive over the near-term. The analyst reiterates a Neutral rating on the stock due to an unclear long-term release slate.
ATVI Activision Blizzard
$78.22

1.41 (1.84%)

02/13/18
WEDB
02/13/18
NO CHANGE
Target $81
WEDB
Outperform
Activision Blizzard added to Best Ideas List at Wedbush
Wedbush analyst Jesse Bigelow is adding Activision Blizzard to his firm's Best Ideas saying the company's new investments have the potential to significantly expand its margins and profits for the next several years. Wedbush has an Outperform rating and $81 price target on the shares.
02/16/18
ARGS
02/16/18
NO CHANGE
Target $81
ARGS
Buy
Activision Blizzard price target raised to $81 from $70 at Argus
Argus analyst Joseph Bonner raised his price target on Activision Blizzard to $81 and kept his Buy rating after the company's beat on Q4 earnings, as well as its focus to broaden its gaming audience with initiatives in e-sports, internet, and TV broadcasting. The analyst is also positive on Activision's entry into mobile casual gaming with the acquisition of King Digital. Bonner believes the company should trade at a premium based on its industry leadership.
01/23/18
COWN
01/23/18
NO CHANGE
Target $66
COWN
Market Perform
Cowen sees 'some serious issues' with Activision's Destiny 2
Activision Blizzard's Destiny 2 is struggling with player engagement, and this could at least partially offset upside from Call of Duty: WWII in 2018, Cowen analyst Doug Creutz tells investors in a research note titled "Destiny Is Not In A Good Place." The analyst believes Destiny 2 has been having "some serious issues" for several months relating to unhappiness with microtransactions as well as its core design and communication. He keeps a Market Perform rating on Activision Blizzard with a $66 price target.
02/09/18
BARD
02/09/18
NO CHANGE
Target $80
BARD
Outperform
Activision Blizzard digital momentum led to solid yearly finish, says Baird
Baird analyst Colin Sebastian said Activision Blizzard reported better than expected Q4 results led by its solid digital momentum. He said there we no major surprises in the quarter and pointed to the long-awaited eSports ramp in the second half of 2018, which will help add visibility to out-year targets. Sebastian reiterated his Outperform rating and raised his price target to $80 from $75 on Activision Blizzard shares.
EA Electronic Arts
$128.49

-0.33 (-0.26%)

01/31/18
BERN
01/31/18
NO CHANGE
Target $150
BERN
Outperform
Electronic Arts price target raised to $150 from $139 at Bernstein
Bernstein analyst Todd Juenger raised his price target for Electronic Arts to $150 from $139 following quarterly results. The analyst reiterates an Outperform rating on the shares.
02/02/18
BMOC
02/02/18
NO CHANGE
Target $150
BMOC
Outperform
Electronic Arts price target raised to $150 from $130 at BMO Capital
BMO Capital analyst Gerrick Johnson raised his price target on Electronic Arts to $150, saying the company overcame underperformance of the Star Wars title to report in-line Q3 earnings and raise Q4 guidance thanks to consistent strength of its sports games. Johnson notes that the company's financial performance was a "relief to investors who feared worse" while also reinforcing his bullish view of the Ultimate Team in-game transaction model. The analyst keeps his Outperform rating on Electronic Arts.
02/26/18
MKMP
02/26/18
NO CHANGE
Target $137
MKMP
Buy
Electronic Arts growth opportunities still significant, says MKM Partners
MKM Partners analyst Eric Handler keeps his Buy rating and $137 price target on Electronic Arts following a series of meetings with the company management, stating his positive outlook of long-term average revenue and EPS growth has been reaffirmed. Handler points to a "long runway" for growth and margin expansion in Digital from all areas of the company's business - full game downloads, live services, and mobile. The analyst also expects buybacks to increase in FY19 given better access to offshore cash.
02/01/18
STFL
02/01/18
NO CHANGE
Target $141
STFL
Buy
Electronic Arts price target raised to $141 from $129 at Stifel
Stifel analyst Drew Crum noted that Electronic Arts was able to overcome a top line shortfall due to disappointing "Star Wars Battlefront II" with outperformance in digital. Management increased guidance for FY18 while conveying a positive outlook for FY19, added Crum, who increased his price target on EA shares to $141 and keeps a Buy rating on the stock.
GME GameStop
$15.85

0.21 (1.34%)

01/10/18
BARD
01/10/18
NO CHANGE
Target $23
BARD
Outperform
GameStop holiday results expected to be inline, says Baird
Baird analyst Colin Sebastian said he expects GameStop to report inline holiday sales, seeing strength in top-selling software and hardware products that should offset a few weak performers. He noted his channel checks do not include the sale of collectibles, which is becoming a larger part of GameStop's business. Sebastian reiterated his Outperform rating and $23 price target but said he would be more constructive on GameStop shares below $20.
01/23/18
BARD
01/23/18
NO CHANGE
BARD
Outperform
Xbox Game Pass expansion a new 'headline challenge' for GameStop, says Baird
After Microsoft (MSFT) announced an expansion of its Game Pass subscription service to now include access to all new first-party Xbox One games simultaneously with release at retail, Baird analyst Colin Sebastian called the news "another challenging headline" for GameStop (GME). However, he expects little near-term impact on retail sales of games from this, since only Microsoft-developed titles are included, he tells investors. The longer-term risk hinges on whether third-party publishers adopt new streaming and/or subscription models, said Sebastian, who keeps an Outperform rating on GameStop shares, which are down about 1% in early trading.
12/07/17
BARD
12/07/17
NO CHANGE
BARD
Data so far suggesting healthy holiday game sales, says Baird
Baird analyst Colin Sebastian noted that French game maker Ubisoft (UBSFY) raised its revenue and margin guidance for the December quarter, which he views as a slight positive for video game industry sales momentum this holiday season. Data also point to solid sales for both Sony's (SNE) PS4 and Nintendo's (NTDOY) Switch, which are a driver of software as well as a key catalyst for Gamestop (GME), Sebastian added. Other publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), Take-Two (TTWO) and Microsoft (MSFT).
01/12/18
LOOP
01/12/18
NO CHANGE
Target $26
LOOP
Buy
GameStop price target lowered to $26 from $28 at Loop Capital
Loop Capital analyst Anthony Chukumba said he saw several encouraging signs in GameStop's report of better than expected 2017 holiday sales. He keeps a Buy rating on the stock, but trimmed his price target on GameStop shares to $26 from $28, noting that the company also said it now sees FY17 EPS near the middle of its prior guidance range.
NTDOY Nintendo
$57.30

0.45 (0.79%)

10/25/17
LYON
10/25/17
DOWNGRADE
LYON
Sell
Nintendo downgraded to Sell from Underperform at CLSA
01/19/18
BOFA
01/19/18
NO CHANGE
Target $275
BOFA
Buy
Nvidia price target raised to $275 from $251 at BofA/Merrill
BofA Merrill Lynch analyst Vivek Arya raised his calendar 2018 EPS estimate for Nvidia (NVDA) by 5% and his calendar 2019 estimate by about 10%, citing December online gamer data that points to a large upgrade opportunity for Nvidia cards, upside in high performance computing that was highlighted in TSMC's (TSM) Q4 report and continued strength in cryptocurrency and Nintendo (NTDOY) Switch sale. Arya increased his price target on Nvidia shares to $275 from $251 and keeps a Buy rating on Nvidia, which he continues to identify as a top pick.
11/13/17
BMOC
11/13/17
UPGRADE
Target $200
BMOC
Market Perform
Nvidia upgraded to Market Perform at BMO Capital on strong data center business
As noted earlier, BMO Capital analyst Ambrish Srivastava upgraded Nvidia to Market Perform from Underperform and raised his price target to $200 from $135. Srivastava says the company has demonstrated a "far stronger" data center business than he had forecast and its leverage is greater than anticipated. The analyst adds that his prior negative view was based on anticipated deceleration in the gaming industry, however the business wins at Nintendo and help from the cryptocurrency market allowed Nvidia to achieve higher levels that expected.

TODAY'S FREE FLY STORIES

CS

Credit Suisse

$15.22

0.405 (2.73%)

14:25
07/16/18
07/16
14:25
07/16/18
14:25
Options
Credit Suisse call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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BECN

Beacon Roofing

$39.77

-0.19 (-0.48%)

14:21
07/16/18
07/16
14:21
07/16/18
14:21
Hot Stocks
Beacon Roofing acquires Atlas Supply »

Beacon Roofing Supply…

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NOC

Northrop Grumman

$320.52

-1.28 (-0.40%)

, BA

Boeing

$355.82

5.01 (1.43%)

14:17
07/16/18
07/16
14:17
07/16/18
14:17
Periodicals
Talent scarce for defense firms despite jump in military spending, NYT says »

According to the New York…

NOC

Northrop Grumman

$320.52

-1.28 (-0.40%)

BA

Boeing

$355.82

5.01 (1.43%)

LMT

Lockheed Martin

$318.09

-0.35 (-0.11%)

GD

General Dynamics

$191.29

-1.5 (-0.78%)

RTN

Raytheon

$199.63

-0.09 (-0.05%)

UTX

United Technologies

$129.14

-0.4 (-0.31%)

BAESY

BAE Systems

$0.00

(0.00%)

GOOG

Alphabet

$1,186.00

-2.81 (-0.24%)

BABA

Alibaba

$190.58

0.55 (0.29%)

FB

Facebook

$208.14

0.81 (0.39%)

03/08/13
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03/06/13
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    Jul

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    Jul

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    Jul

  • 25

    Jul

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    Jul

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    Jul

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    Jul

  • 08

    Aug

  • 10

    Sep

  • 18

    Sep

  • 28

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
07/16/18
07/16
14:17
07/16/18
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
07/16/18
07/16
14:16
07/16/18
14:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
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03/06/13
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03/06/13
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HUBG

Hub Group

$49.00

-1.95 (-3.83%)

14:10
07/16/18
07/16
14:10
07/16/18
14:10
Options
Unusually large option print in Hub Group as shares slump »

Unusually large option…

03/08/13
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03/06/13
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03/06/13
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14:10
07/16/18
07/16
14:10
07/16/18
14:10
General news
Fed's Kashkari worries about the flattening yield curve »

Fed's Kashkari…

JBHT

J.B. Hunt

$120.99

-0.78 (-0.64%)

14:08
07/16/18
07/16
14:08
07/16/18
14:08
Recommendations
J.B. Hunt analyst commentary  »

Loop says J.B. Hunt…

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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  • 26

    Aug

SYRS

Syros Pharmaceuticals

$12.35

(0.00%)

14:08
07/16/18
07/16
14:08
07/16/18
14:08
Conference/Events
Syros Pharmaceuticals to hold a key opinion leader meeting »

Key Opinion Leader…

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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  • 18

    Jul

EQGP

EQT GP

$24.87

-0.25 (-1.00%)

, EQM

EQT Midstream Partners

$54.90

0.49 (0.90%)

14:02
07/16/18
07/16
14:02
07/16/18
14:02
Conference/Events
Rice Midstream to host special shareholder meeting »

Special Shareholder…

EQGP

EQT GP

$24.87

-0.25 (-1.00%)

EQM

EQT Midstream Partners

$54.90

0.49 (0.90%)

RMP

Rice Midstream

$18.16

0.16 (0.89%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 26

    Jul

  • 26

    Jul

CRSP

Crispr Therapeutics

$59.61

-6.13 (-9.32%)

14:01
07/16/18
07/16
14:01
07/16/18
14:01
Periodicals
Crispr Therapeutics tells CNBC does not use methods described in paper »

Crispr Therapeutics told…

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MAS

Masco

$37.79

-0.22 (-0.58%)

14:00
07/16/18
07/16
14:00
07/16/18
14:00
Options
Bullish option play opened in Masco ahead of earnings »

Bullish option play…

03/08/13
Wedge Partners
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  • 31

    Jul

CRSP

Crispr Therapeutics

$59.09

-6.65 (-10.12%)

13:55
07/16/18
07/16
13:55
07/16/18
13:55
Options
Crispr Therapeutics put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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13:50
07/16/18
07/16
13:50
07/16/18
13:50
General news
U.S. equities are up from earlier lows »

U.S. equities are up from…

ECA

Encana

$12.84

-0.4 (-3.02%)

13:45
07/16/18
07/16
13:45
07/16/18
13:45
Options
Encana call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 08

    Aug

  • 09

    Oct

ADS

Alliance Data

$220.17

-23.32 (-9.58%)

13:44
07/16/18
07/16
13:44
07/16/18
13:44
Technical Analysis
Technical Take: Alliance Data comes off the lows of the day »

Shares were last down…

03/08/13
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03/06/13
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  • 19

    Jul

  • 08

    Aug

CRM

Salesforce

$147.50

-0.18 (-0.12%)

13:39
07/16/18
07/16
13:39
07/16/18
13:39
Hot Stocks
Salesforce announces definitive agreement to acquire Datorama »

Salesforce has signed a…

03/08/13
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03/06/13
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03/06/13
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  • 18

    Jul

  • 16

    Aug

YELP

Yelp

$40.33

0.54 (1.36%)

13:35
07/16/18
07/16
13:35
07/16/18
13:35
Options
Yelp put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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LBIX

Leading Brands

$1.62

-0.06 (-3.57%)

13:32
07/16/18
07/16
13:32
07/16/18
13:32
Hot Stocks
Leading Brands announces resolution of temporary non-compliance with Nasdaq rule »

Leading Brands announced…

03/08/13
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03/06/13
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03/06/13
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STM

STMicroelectronics

$22.84

0.2 (0.88%)

13:25
07/16/18
07/16
13:25
07/16/18
13:25
Options
STMicroelectronics call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 25

    Jul

13:25
07/16/18
07/16
13:25
07/16/18
13:25
Conference/Events
Stephens agricultural analyst to hold an analyst/industry conference call »

Agriculture, Chemicals,…

EDIT

Editas Medicine

$36.20

-1.71 (-4.51%)

, NTLA

Intellia Therapeutics

$30.55

-2.05 (-6.29%)

13:23
07/16/18
07/16
13:23
07/16/18
13:23
Periodicals
Editas tells CNBC 'not specifically concerned about' Crisper study »

Editas Medicine (EDIT)…

EDIT

Editas Medicine

$36.20

-1.71 (-4.51%)

NTLA

Intellia Therapeutics

$30.55

-2.05 (-6.29%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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CVS

CVS Health

$68.30

-0.33 (-0.48%)

13:19
07/16/18
07/16
13:19
07/16/18
13:19
Periodicals
CVS apologizes after store managers call police on black customer, AP says »

CVS Health is apologizing…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
07/16/18
07/16
13:17
07/16/18
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
07/16/18
07/16
13:16
07/16/18
13:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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