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MIK

Michaels

$19.55

-1.645 (-7.76%)

06:39
03/23/18
03/23
06:39
03/23/18
06:39

Michaels pullback yesterday a buying opportunity, says JPMorgan

JPMorgan analyst Christopher Horvers recommends using the pullback yesterday in shares of Michaels as a buying opportunity. While the earnings and operating income guidance was disappointing, the story is intact and the company's digital investments should "widen its lead," Horvers tells investors in a post-earnings research note. Michaels has 12% of its market capitalization in cash, which can be deployed in a 10% accretive accelerated share repurchase or for strategic ends, the analyst contends. He lowered his price target for the shares to $27 from $30 and keeps an Overweight rating on Michaels.

MIK Michaels
$19.55

-1.645 (-7.76%)

01/25/18
01/25/18
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. Grainger (GWW) upgraded to Outperform from Neutral at Baird with analyst David Manthey saying its strategic initiatives are gaining traction faster than expected. 2. Carter's (CRI) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying his store work and industry reads give him confidence that Carter's comps should come in above plan. 3. CenturyLink (CTL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Jonathan Atkin saying there is potential upside to the company's synergy targets, adding that he believes the new management can restructure operations to generate EBITDA growth. 4. Lowe's (LOW), Dick's Sporting (DKS), and Michaels (MIK) were upgraded to Outperform from Market Perform at Telsey Advisory. 5. Varian Medical (VAR) upgraded to Outperform from Market Perform at Barrington with analyst Michael Petusky saying he views the company's first quarter results as "strong" and believes the outlook for 2018 is likely conservative. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/01/18
LOOP
03/01/18
INITIATION
Target $25
LOOP
Hold
Michaels initiated with a Hold at Loop Capital
Loop Capital analyst Laura Champine initiated Michaels with a Hold rating and a price target of $25. Champine says the stock deserves some attention based on its "defensible brick-and-mortar business model and sector leadership position", while the store checks suggest a "very strong seasonal sell-through" for Q4. The analyst warns however that the company remains heavily levered with $2.7B of long term debt, recommending that it uses some of the FY17 free cash flows to reduce its liabilities.
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.
03/22/18
LOOP
03/22/18
NO CHANGE
Target $21
LOOP
Hold
Michaels price target lowered to $21 from $25 at Loop Capital
Loop Capital analyst Laura Champine lowered her price target for Michaels to $21 citing the company's "weak" margin guidance. The analyst, however, believes the stock already prices in today's lower margin guidance. She keeps a Hold rating on Michaels.

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