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BJRI

BJ's Restaurants

$45.05

-0.5 (-1.10%)

, CAKE

Cheesecake Factory

$52.06

0.32 (0.62%)

09:47
04/09/18
04/09
09:47
04/09/18
09:47

Wedbush consumer analysts to hold an analyst/industry conference call

Analysts, along with David Maloni, President & Founder of the American Restaurant Association, discuss the outlook for Commodities (protein, dairy, produce, grains, and coffee), developments in supply chain (impact from tech, tariffs) and potential ramifications for updated commodity guidance ahead of Q1 earnings on an Analyst/Industry conference call to be held on April 9 at 10:30 am.

BJRI

BJ's Restaurants

$45.05

-0.5 (-1.10%)

CAKE

Cheesecake Factory

$52.06

0.32 (0.62%)

CHUY

Chuy's

$26.60

-0.3 (-1.12%)

CMG

Chipotle

$320.98

2.91 (0.91%)

FRGI

Fiesta Restaurant

$19.50

(0.00%)

JACK

Jack in the Box

$86.54

-0.59 (-0.68%)

SBUX

Starbucks

$58.34

-0.8 (-1.35%)

SHAK

Shake Shack

$43.55

0.4 (0.93%)

TACO

Del Taco

$10.68

-0.11 (-1.02%)

TXRH

Texas Roadhouse

$60.73

0.22 (0.36%)

WEN

Wendy's

$17.02

-0.36 (-2.07%)

WING

Wingstop

$47.76

-1.05 (-2.15%)

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    Jun

BJRI BJ's Restaurants
$45.05

-0.5 (-1.10%)

02/15/18
WEDB
02/15/18
UPGRADE
WEDB
Outperform
BJ's Restaurants upgraded to Outperform from Neutral at Wedbush
01/03/18
STFL
01/03/18
UPGRADE
Target $44
STFL
Buy
BJ's Restaurants upgraded to Buy from Hold at Stifel
Stifel analyst Chris O'Cull upgraded BJ's Restaurants to Buy from Hold and raised his 2018 earnings estimate citing better visibility into same-restaurant sales growth given an improved industry backdrop, growing demand for new offerings and accelerating to-go sales. He raised his price target on BJ's shares to $44 from $32.
10/18/17
WELS
10/18/17
NO CHANGE
Target $30
WELS
Market Perform
BJ's Restaurants price target lowered to $30 from $35 at Wells Fargo
Wells Fargo lowered its price target for BJ's Restaurants to $30 from $35 saying Q3 same-store sales may fall short of Street estimate. The firm reiterates a Market Perform on the shares.
02/15/18
02/15/18
UPGRADE
Target $44

Outperform
BJ's Restaurants upgraded to Outperform at Wedbush
As previously reported, Wedbush analyst Nick Setyan upgraded BJ's Restaurants to Outperform from Neutral saying that based on early signs of same-store sales growth stabilization in-line to above current expectations, he now believes upside to his and consensus estimates exist. The analyst also expects valuation to expand toward the high end of casual dining peers as relative same-store sales growth outperformance widens. Setyan also raised his price target on the shares to $44 from $37.
CAKE Cheesecake Factory
$52.06

0.32 (0.62%)

02/22/18
02/22/18
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. First Solar (FSLR) downgraded to Hold from Buy at Miller Tabak. 2. Macquarie Infrastructure (MIC) was downgraded to Neutral from Overweight at JPMorgan and to Hold from Buy at SunTrust. 3. Cheesecake Factory (CAKE) downgraded to Market Perform from Outperform at Telsey. 4. U.S. Silica (SLCA) downgraded to Neutral from Buy at Citi with analyst Scott Gruber saying the company's free cash flow outlook "evaporates" the bull case. 5. Rice Midstream (RMP) downgraded to Market Perform from Outperform at Wells Fargo with analyst Michael Blum saying he believes an EQT Midstream Partners (EQM), Rice Midstream merger would only be accretive to EQT Midstream unit holders if executed at no or modest premium, which he views as negative for Rice. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/18
RAJA
03/06/18
NO CHANGE
RAJA
Market Perform
Cheesecake Factory five-year comp target higher than FY18, says Raymond James
Raymond James analyst Brian Vaccaro noted that Cheesecake Factory management's five-year plan, detailed earlier today at the firm's investor conference, includes a comparable sales growth target of 1%-2%, which is above their 2018 guidance of flat to up 1%. Vaccaro has a Market Perform rating on Cheesecake Factory shares.
02/22/18
TLSY
02/22/18
DOWNGRADE
TLSY
Market Perform
Cheesecake Factory downgraded to Market Perform from Outperform at Telsey
02/22/18
BTIG
02/22/18
NO CHANGE
Target $55
BTIG
Buy
Cheesecake Factory price target raised to $55 from $50 at BTIG
BTIG analyst Peter Saleh raised his price target on Cheesecake Factory to $55 after Q4 results, citing continued improvement in sales trends as well as the company's view of implied sequential revenue growth and comps returning to positive territory in Q1. Saleh says the company's "more aggressive value proposition" and easing comparisons in the second half of this year will produce rising sales. The analyst keeps his Buy rating on Cheesecake Factory, also pointing to the positive impact of To-Go sales growth and the launch of online ordering in the coming months.
CHUY Chuy's
$26.60

-0.3 (-1.12%)

08/30/17
08/30/17
NO CHANGE

Wedbush estimates Harvey's impact on restaurant chains
Wedbush analyst Nick Setyan says that Jack in the Box (JACK), Fiesta Restaurant (FRGI), Chuy's (CHUY), Cheesecake Factory (CAKE), and BJ's Restaurants (BJRI0 have the most exposure to Hurricane Harvey among restaurant owners. The analyst estimates that 20% of restaurants owned by Jack in the Box are in the area and 27% of Fiesta's Taco Cabana restaurants are in Houston, while 9% of Chuy's restaurants, 3% of Cheesecake's units, and 2% of BJ's units are in the area,. The analyst estimates that Jack in the Box's EPS loss could be as high as .007c per day, while Fiesta's EPS loss may be as high as .005c per day, and Chuy could lose .004c of EPS per day. Finally, Cheesecake and BJ's could lose u[p to .002c of EPS per day, the analyst stated.
07/17/17
RAJA
07/17/17
UPGRADE
RAJA
Outperform
Chuy's upgraded to Outperform due to share pullback at Raymond James
Raymond James analyst Brian Vaccaro upgraded Chuy's to Outperform from Market Perform and established a $29 price target given the sharp pullback in shares.
10/02/17
STFL
10/02/17
INITIATION
STFL
Hold
Chuy's resumed coverage with a Hold at Stifel
Stifel analyst Chris O'Cull resumed coverage of Chuy's with a Hold rating and $23 price target.
01/10/18
BMOC
01/10/18
NO CHANGE
Target $30
BMOC
Market Perform
Chuy's price target raised to $30 from $24 at BMO Capital
BMO Capital analyst Andrew Strelzik raised his price target on Chuy's to $30 after hosting a meeting with the company at ICR, saying the commentary from the management gives him confidence in solid Q4 SSS trends. Strelzik keeps his Market Perform rating however, adding that risk/reward in the stock price appears to be balanced at current levels, while the outlook for margin improvement in the near term remains uncertain.
CMG Chipotle
$320.98

2.91 (0.91%)

03/26/18
UBSW
03/26/18
NO CHANGE
Target $275
UBSW
Sell
Chipotle perceptions remain challenged, says UBS
UBS analyst Dennis Geiger said his survey of Chipotle brand perceptions remain below pre-food safety incident levels and suggests continued weakness among light frequency and non-Chipotle customers. He noted the challenges underscore the need to implement new strategic plans, but recent efforts have not driven notable improvements. As a results, he remains cautious on the shares and sees near to medium term risk to the downside. Geiger reiterated his Sell rating and $275 price target on Chipotle shares.
03/13/18
WEDB
03/13/18
NO CHANGE
Target $310
WEDB
Neutral
Chipotle price target raised to $310 from $285 at Wedbush
Wedbush analyst Nick Setyan raised his price on Chipotle Mexican Grill to $310 from $285. In a research note to investors, Setyan said that he is "skeptical" that increasing optimism around a potential inflection in 2019 could materialize, though he expects the combination of "low" expectations for 2018 and the hiring of new CEO Brian Niccols to result in "relatively uneventful" quarterly reports through 2018. Setyan said checks suggest Q1 same-store sales growth are in line with the 1.3% consensus and within the 1%-2% guidance and believes FY18 comp guidance of 2.7% growth is "realistic," adding that visibility into 2019 EPS is the next meaningful catalyst "in either direction." Setyan maintained a Neutral rating on Chipotle shares.
03/15/18
PIPR
03/15/18
NO CHANGE
Target $355
PIPR
Chipotle price target raised to $355 from $318 at Piper Jaffray
Piper Jaffray analyst Nicole Miller Regan raised her price target for Chipotle Mexican Grill to $355 saying new CEO Brian Niccol should bring "consistency and clarity." While executive turnover often results in disruption, Chipotle's results have already been volatile given the nature of the ongoing recovery situation, Regan tells investors in a research note. Going forward, the analyst expects strategy to be simplified, the new CEO to prioritize key initiatives and the pace of positive momentum to "eventually accelerate." She reiterates an Overweight rating on Chipotle Mexican Grill.
03/09/18
UBSW
03/09/18
NO CHANGE
Target $275
UBSW
Sell
Chipotle sounding optimistic about near-term opportunities, says UBS
UBS analyst Dennis Geiger met with Chipotle management, who he said sounded optimistic about the opportunities ahead. He noted new CEO Brian Nichol started this week and expectations are he will aggressively move to implement a strategic turnaround plan including catering, drive-thru, delivery, and other plans. However, Geiger reiterated his Sell rating, as perception scores remains low, and keeps a $275 price target on Chipotle shares.
FRGI Fiesta Restaurant
$19.50

(0.00%)

02/27/18
SPHN
02/27/18
NO CHANGE
Target $20
SPHN
Equal Weight
Fiesta Restaurant turnaround still in early innings, says Stephens
Stephens analyst Will Slabaugh said he was encouraged to hear from Fiesta Restaurant Group that it is seeing stabilized results at Pollo Tropical, though he added that the company's turnaround is still in its early innings. Following the company's "mixed" Q4 report, Slabaugh keeps an Equal Weight rating and $20 price target on Fiesta Restaurant shares.
09/07/17
PIPR
09/07/17
DOWNGRADE
Target $14
PIPR
Underweight
Fiesta Restaurant downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Nicole Miller Regan downgraded Fiesta Restaurant Group to Underweight citing weakening industry trends. The analyst says that while the company's ongoing investments may result in fundamental improvements, she does not view strategic alternatives as an option. Regan cut her price target for the shares to $14 from $17.
04/03/18
WEDB
04/03/18
NO CHANGE
WEDB
Activision Blizzard, Cognizant among Wedbush Best Ideas
Wedbush analyst Jesse Bigelow notes that his firm's Best Ideas List is comprised of "the highest rated U.S. Equities, chosen by its analysts and vetted by committee." The list includes Activision Blizzard (ATVI), Cognizant Technology Solutions (CTSH), Electronic Arts (EA), Fiesta Restaurant Group (FRGI), Foot Locker (FL), Norwegian Cruise Line Holdings (NCLH), Proofpoint (PFPT), Regions Financial (RF), and Worldpay (WP).
JACK Jack in the Box
$86.54

-0.59 (-0.68%)

03/26/18
03/26/18
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. Adobe (ADBE) downgraded to Market Perform from Outperform at JMP Securities with analyst Patrick Walravens saying he believes the shares are fairly valued after having risen 69% in 2017 and a further 21% year-to-date. 2. Dover (DOV) downgraded to Neutral from Overweight at JPMorgan with analyst Steve Tusa saying a lack of near-term catalysts makes the risk/reward profile no longer attractive. 3. AMD (AMD) downgraded to Negative from Neutral at Susquehanna with analyst Christopher Rolland saying he confirmed Bitmain has developed an ASIC for Ethereum mining, which he believes accounted for roughly 20% of AMD's sales. 4. Jack in the Box (JACK) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst John Glass saying he sees limited upside and ongoing top-line risk. 5. Willis Towers Watson (WLTW) downgraded to Underperform from Neutral at BofA/Merrill with analyst Jay Cohen saying while Willis' organic growth rebounded in 2017, its inconsistent margin performance detracts a bit from his confidence in the company's near-term earnings power. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/26/18
MSCO
03/26/18
DOWNGRADE
MSCO
Equal Weight
Jack in the Box downgraded to Equal Weight from Overweight at Morgan Stanley
03/26/18
03/26/18
DOWNGRADE
Target $95

Equal Weight
Jack in the Box downgraded to Equal Weight at Morgan Stanley
As previously reported, Morgan Stanley analyst John Glass downgraded Jack in the Box to Equal Weight from Overweight as he sees limited upside and ongoing top-line risk. He lowered his price target on Jack shares to $95 from $106.
03/26/18
03/26/18
UPGRADE
Target $71

Overweight
Restaurant Brands upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley analyst John Glass upgraded Restaurant Brands (QSR) to Overweight from Equal Weight as he sees the stock as being the most mispriced, based on free cash flow yield, among a peer group of "largely franchised" restaurants. He raised his price target on the owner of Burger King and Tim Hortons to $71 from $69. Glass also downgraded Jack in the Box (JACK) to Equal Weight from Overweight this morning.
SBUX Starbucks
$58.34

-0.8 (-1.35%)

03/27/18
STFL
03/27/18
NO CHANGE
STFL
Hold
Starbucks latest frappuccino promotion seeing weaker response, says Stifel
Stifel analyst Chris O'Cull said his social media analysis leads him to believe that Starbucks' latest limited-time-offer frappuccino promotion, the Crystal Ball Frappuccino, is having less of an impact than previous frappuccino LTOs. Frappuccino "spark" promotions appear to be losing some of their appeal and O'Cull is encouraged by the company's plan to revamp its approach to beverage innovation, saying that he expects to see changes soon. He maintains a Hold rating on Starbucks shares.
03/29/18
03/29/18
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. GameStop (GME) downgraded to Underperform from Neutral at BofA/Merrill by analyst Curtis nagle, who said he no longer believes GameStop's non-gaming segments will be sources of growth or earnings over the next few years and cut estimates well below the Street for 2018. He expects increased earnings pressure in 2019 and beyond as strong sales from the Nintendo Switch and Collectibles expansion, and lower tax rate are lapped. 2. Cloud Peak Energy (CLD) downgraded to Underweight from Neutral at JPMorgan by analyst John Bridges, saying he sees higher risk for the company from lower natural gas prices as production ramps up from the Permian basin. He also believes Cloud Peak has a "lesser diversified production profile" with exposure to thermal coal only. 3. Starbucks (SBUX) downgraded to Neutral from Outperform at Wedbush. 4. ViaSat (VSAT) downgraded to Underweight from Equal Weight at Barclays by analyst Mathieu Robilliard. The analyst sees see continued risk for oversupply in the satellite industry. The sector stock price performance has started to reflect these concerns, apart from ViaSat which has outperformed peers, Robilliard said, adding that he believes the current stock price reflects assumptions that are too optimistic. 5. DiamondRock (DRH) downgraded to Underperform from Neutral at Boenning & Scattergood by analyst Floris van Dijkum following share strength related to the LaSalle Hotel (LHO) bid announcement as he believes shares are not overly discounted relative to hotel peers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/29/18
WEDB
03/29/18
DOWNGRADE
WEDB
Neutral
Starbucks downgraded to Neutral from Outperform at Wedbush
03/29/18
03/29/18
DOWNGRADE
Target $56

Neutral
Starbucks downgraded to Neutral at Wedbush
As previously reported, Wedbush analyst Nick Setyan downgraded Starbucks to Neutral from Outperform as he no longer sees drivers of upside to same-store sales growth and EPS consensus expectations in FY18, and sees rising risks to FY19 expectations. The analyst also lowered his price target on the shares to $56 from $70.
SHAK Shake Shack
$43.55

0.4 (0.93%)

12/22/17
12/22/17
DOWNGRADE

On The Fly: Top analyst downgrades
Catch up on today's top analyst downgrades with this list compiled by The Fly: 1. Dynagas LNG (DLNG) downgraded to Hold from Buy at Stifel with analyst Benjamin Nolan saying although the new three-year contract extension with Statoil (STO) improves cash flow visibility, the rates were below expectations and the cash flow gap has widened. 2. Hovnanian (HOV) downgraded to Sell from Neutral at MKM Partners wiht analyst Megan McGrath saying the large positive move up on the heels of its earnings report followed what she viewed as "only a mildly positive quarter." 3. Bojangles (BOJA) was downgraded to Hold from Buy at Jefferies while Wingstop (WING) and Shake Shack (SHAK) were downgraded to Underperform from Hold. 4. WWE (WWE) and Live Nation (LYV) were downgraded to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/18
RHCO
01/03/18
NO CHANGE
Target $60
RHCO
Buy
Shake Shack price target raised to $60 from $50 at SunTrust
SunTrust analyst Jake Bartlett raised his price target on Shake Shack to $60 as part of his "Buy the Tax News" research note on Restaurants. Bartlett says the company is the fastest growing publicly traded restaurant with a 4-year CAGR rate of 44% through 2017. The analyst notes that the company has topped its initial guidance in each of the last 3 years by a wide margin, and believes the initial forecast for FY18 may also prove to be conservative.
12/19/17
COWN
12/19/17
NO CHANGE
Target $42
COWN
Market Perform
Shake Shack price target raised to $42 from $36 at Cowen
Cowen analyst Andrew Charles raised his price target on Shake Shack to $42 from $36 as he believes the company would benefit from food delivery, which could drive upside to consensus same-store-sales estimates. Charles said labor and regulatory issues, along with necessary investments to support growth, keep him at a Market Perform rating on the shares.
12/22/17
JEFF
12/22/17
DOWNGRADE
Target $36
JEFF
Underperform
Shake Shack downgraded to Underperform from Hold at Jefferies
Jefferies analyst Andy Barish downgraded Shake Shack to Underperform with an unchanged price target of $36. The stock closed yesterday up 7c to $46.20. The analyst still believes in the long-term growth opportunity for Shake Shack, but thinks much of that is already discounted in the current valuation. He sees the company's traffic remaining negative in 2018 due to cannibalization, high volumes and a small comp base. Barish calls Shake Shack overvalued following the recent rally in the shares.
TACO Del Taco
$10.68

-0.11 (-1.02%)

12/22/17
MAXM
12/22/17
NO CHANGE
MAXM
Buy
Maxim names Dave & Buster's, Domino's and Del Taco as top 2018 restaurant picks
Maxim analyst Stephen Anderson expects the Tax Cut and Jobs Act to benefit some restaurant names more than others, calling out Habit Restaurants (HABT), Chipotle (CMG), and Zoe's Kitchen (ZOES), Dave & Buster's (PLAY), Domino's Pizza (DPZ) and Del Taco (TACO) as among those that may benefit "disproportionately" compared to sector peers. Anderson identifies Dave & Buster's, Domino's and Del Taco as his top restaurant picks for 2018 and keeps Buy ratings on all three. He also raised his price target on D&B to $97 from $84, on Domino's to $240 from $230 and on Del Taco to $20 from $19.
01/02/18
WELS
01/02/18
NO CHANGE
WELS
Potbelly, Del Taco may see largest EPS tailwind from tax reform, says Wells Fargo
Wells Fargo argues that Potbelly (PBPB), Del Taco (TACO), El Pollo Loco (LOCO) and Jack in the Box (JACK) could see the largest EPS accretion tailwind from a reduced corporate tax rate, with Restaurant Brands (QSR), Red Robin (RRGB), Noodles & Company (NDLS) and Yum! Brands (YUM) the companies that could see the smallest tailwind. Recent restaurant rally indicates that virtually the entire sector has benefited from anticipation of potential tax reform, with the most heavily shorted names seeing an amplified move, the firm adds.
12/06/17
WELS
12/06/17
NO CHANGE
WELS
Tax reform-driven EPS accretion would be sizeable for restaurant sector, says Wells Fargo
Wells Fargo analyst Jeff Farmer says that small cap companies including Del Taco (TACO), Habit Restaurants (HABT), El Pollo Loco (LOCO), Shake Shack (SHAK) and Noodles & Company (NDLS) could see the largest EPS accretion tailwind from a reduced corporate tax rate, with Red Robin (RRGB), Restaurant Brands (QSR), Yum! Brands (YUM) and Bloomin' Brands (BLMN) the companies that could see the smallest tailwind. The analyst notes that recent restaurant sector rally indicates that virtually the entire sector has benefitted from anticipation of potential tax reform, with the most heavily shorted names seeing an amplified share price move.
10/04/17
MAXM
10/04/17
NO CHANGE
MAXM
Del Taco valuation remains 'compelling,' says Maxim
Maxim analyst Stephen Anderson says that Del Taco remains a "growth at a reasonable price story" even after its late summer rally, and he continues to believe that its valuation is "compelling." He raised his Q3 comp sales growth estimate for the company to 4.8% from 4.3% as he expects the company to continue to benefit from menu innovations, "increasing the number of guest occasions," and adding new restaurants. The analyst also expects the company's 2017 EPS to come in slightly above expectations. He keeps a $19 price target and a Buy rating on the shares.
TXRH Texas Roadhouse
$60.73

0.22 (0.36%)

01/23/18
01/23/18
UPGRADE
Target $65

Outperform
Texas Roadhouse upgraded to Outperform at Credit Suisse
As previously reported, Credit Suisse analyst Jason West upgraded Texas Roadhouse to Outperform from Neutral as he believes EPS forecasts are too low and sees potential for multiple expansion. The analyst also raised his price target on the shares to $65 from $48.
02/21/18
SPHN
02/21/18
NO CHANGE
Target $62
SPHN
Overweight
Texas Roadhouse price target raised to $62 from $55 at Stephens
Stephens analyst Will Slabaugh raised his price target on Texas Roadhouse shares to $62 following the company's Q4 report, saying he attributes its outperformance compared to the industry to the company's superior focus on service, food execution, and its value proposition. Slabaugh keeps an Overweight rating on Texas Roadhouse.
03/15/18
MZHO
03/15/18
INITIATION
Target $66
MZHO
Buy
Texas Roadhouse initiated with a Buy at Mizuho
Mizuho analyst Jeremy Scott initiated Texas Roadhouse with a Buy and $66 price target.
01/24/18
MAXM
01/24/18
NO CHANGE
Target $65
MAXM
Buy
Texas Roadhouse price target raised to $65 from $60 at Maxim
Maxim analyst Stephen Anderson raised his price target on Texas Roadhouse to $65 ahead of next month's Q4 earnings report. The analyst sees a better than expected blended comps and also sees room for more margin upside this year. Anderson keeps his Buy rating on Texas Roadhouse, adding there is more benefit to come from lower corporate tax rates and accelerated buybacks.
WEN Wendy's
$17.02

-0.36 (-2.07%)

03/19/18
OPCO
03/19/18
INITIATION
OPCO
Perform
Wendy's initiated with a Perform at Oppenheimer
Oppenheimer analyst Brian Bittner initiated Wendy's with a Perform rating, saying the company's investment story is focused around the management's 75% growth target for free cash flows based on accelerating sales, lower capital expenses, and positive tax changes. The analyst notes that while the company is "executing solidly", his Perform rating is based on financial targets already "baked in" to valuation and some "meaningful dependence" of free cash flow projections on strong comps and unit offerings. Bittner add that he is "positively biased" on any "irrational pullbacks" in the stock price.
03/08/18
03/08/18
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 Buy from Neutral at Longbow with analyst Alton Stump saying his conversations with U.S. Wendy's franchisees leads him to estimate that domestic franchised same-store sales are up 2%-2.5% to date in the first quarter. 2. Barclays (BCS) upgraded to Neutral from Sell at Goldman Sachs with analyst Martin Leitgeb citing the company's capital progress and less risk from financial regulation for the upgrade. 3. Eaton (ETN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Andrew Orbin saying management outlined its long-term strategy for Industrial and Electrical segments growth and said a recent inflection in Electrical provides better visibility on margins. 4. Splunk (SPLK) upgraded to Buy from Hold at Argus with analyst Joseph Bonner saying the company is in a fast-growing market, though its success will depend on the execution of a ramp in software sales along with capturing market share without pressure on margins. 5. Dollar Tree (DLTR) upgraded to Overweight from Equal Weight at Barclays with analyst Karen Short saying she views the company's outlook as conservative and believes the recent share selloff provides an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/18
MZHO
03/15/18
INITIATION
Target $19
MZHO
Buy
Wendy's initiated with a Buy at Mizuho
Mizuho analyst Jeremy Scott initiated Wendy's with a Buy and $19 price target.
03/20/18
03/20/18
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. Wendy's (WEN) initiated with a Perform at Oppenheimer. 2. Adesto Technologies (IOTS) initiated with a Buy at B. Riley FBR. 3. M.D.C. Holdings (MDC) initiated with a Neutral at Wedbush. 4. Marinus Pharmaceuticals (MRNS) initiated with a Buy at Mizuho. 5. J.B. Hunt (JBHT) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
WING Wingstop
$47.76

-1.05 (-2.15%)

02/23/18
WELS
02/23/18
NO CHANGE
Target $53
WELS
Outperform
Wingstop post-earnings selloff unjustified, says Wells Fargo
The confusion around Wingstop's 2018 guidance and corresponding share selloff provide opportunity as investors gain clarity on "distracting/misunderstood elements of the outlook," Wells Fargo analyst Jeff Farmer tells investors in a research note. The Street did not model the company's special dividend that was announced in late January, Farmer contends. He believes the post-earnings pullback is unjustified and keeps an Outperform rating on the shares with a $53 price target.
02/23/18
COWN
02/23/18
NO CHANGE
Target $51
COWN
Outperform
Wingstop pullback not warranted, says Cowen
Cowen analyst Andrew Charles said the pullback in Wingstop shares following Q4 results is not warranted. The analyst said the unit development targets leave more to be desired, but he believes the guidance is conservative as it reflects a delay in openings following an astronomical 18% wing inflation in 2017. Charles reiterated his Outperform rating and $51 price target on Wingstop shares.
02/20/18
02/20/18
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. Snap (SNAP) downgraded to Sell from Neutral at Citi with analyst Mark May saying the recent flagship app redesign could produce positive long-term benefits, but the "significant jump" in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, and could negatively impact financial results. 2. Wingstop (WING) downgraded to Neutral from Outperform at Baird with analyst David Tarantino citing the recent surge in the shares, which has left less room for upside on a near-term basis. 3. Northrop Grumman (NOC) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Noah Poponak citing valuation. 4. JPMorgan sees few catalysts for Shire (SHPG), downgrades shares to Neutral with analyst James Gordon saying he sees few catalysts in 2018 and 2019 beyond a potential NeuroScience spinoff, which he does not see as creating fundamental value. 5. Teck Resources (TECK) downgraded to Neutral from Outperform at Macquarie with analyst Matt Murphy citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/23/18
SPHN
02/23/18
NO CHANGE
Target $50
SPHN
Overweight
Wingstop model intact despite questions about guidance, says Stephens
Stephens analyst Will Slabaugh credits Wingstop's new split menu, national advertising, and growing digital presence for its Q4 topline beat. While noting some disappointment related to the company's guidance for "10%+" unit growth in FY18, Slabaugh thinks this is more of a long-term positioning strategy than a reflection of a dramatic reduction in domestic growth expectations. He still sees Wingstop as having best-in-class franchisee returns and a strong brand and keeps an Overweight rating and $50 price target on the shares.

TODAY'S FREE FLY STORIES

PRO

Pros Holdings

$35.39

-1.91 (-5.12%)

20:39
08/15/18
08/15
20:39
08/15/18
20:39
Syndicate
Pros Holdings 3.8M share Secondary priced at $34.00 »

It appears selling…

03/08/13
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03/08/13
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03/06/13
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  • 20

    Aug

  • 21

    Aug

  • 06

    Sep

  • 07

    Sep

  • 16

    Aug

IIN

IntriCon

$63.85

-4.9 (-7.13%)

20:34
08/15/18
08/15
20:34
08/15/18
20:34
Syndicate
IntriCon 1.5M share Secondary priced at $55.00 »

Stifel acted as sole book…

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

    Sep

  • 16

    Aug

ADUS

Addus HomeCare

$59.35

-3.1 (-4.96%)

20:33
08/15/18
08/15
20:33
08/15/18
20:33
Syndicate
Addus HomeCare 2.1M share Secondary priced at $59.00 »

Jefferies, RBC Capital…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 16

    Aug

LABL

Multi-Color

$63.90

-1 (-1.54%)

20:32
08/15/18
08/15
20:32
08/15/18
20:32
Downgrade
Multi-Color rating change  »

Multi-Color downgraded to…

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

Walmart

$90.24

-0.565 (-0.62%)

, JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

20:25
08/15/18
08/15
20:25
08/15/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

WMT

Walmart

$90.24

-0.565 (-0.62%)

JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 16

    Aug

  • 16

    Aug

WUBA

58.com

$58.59

-3.27 (-5.29%)

19:09
08/15/18
08/15
19:09
08/15/18
19:09
Hot Stocks
Breaking Hot Stocks news story on 58.com »

58.com sees Q3 revenue…

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  • 16

    Aug

  • 10

    Sep

WUBA

58.com

$58.59

-3.27 (-5.29%)

19:08
08/15/18
08/15
19:08
08/15/18
19:08
Earnings
58.com reports Q2 adjusted earnings per ADS 82c, consensus 68c »

Reports Q2 revenue…

03/08/13
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  • 16

    Aug

  • 10

    Sep

WAIR

Wesco Aircraft

$13.65

-0.3 (-2.15%)

19:07
08/15/18
08/15
19:07
08/15/18
19:07
Initiation
Wesco Aircraft initiated  »

Wesco Aircraft initiated…

03/08/13
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03/08/13
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03/06/13
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TGI

Triumph Group

$21.10

-0.9 (-4.09%)

19:07
08/15/18
08/15
19:07
08/15/18
19:07
Initiation
Triumph Group initiated  »

Triumph Group initiated…

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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HXL

Hexcel

$68.40

-1.13 (-1.63%)

19:06
08/15/18
08/15
19:06
08/15/18
19:06
Initiation
Hexcel initiated  »

Hexcel initiated with a…

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

    Nov

ERJ

Embraer

$18.64

-0.495 (-2.59%)

19:05
08/15/18
08/15
19:05
08/15/18
19:05
Initiation
Embraer initiated  »

Embraer initiated with a…

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

Curtiss-Wright

$130.92

-2.42 (-1.81%)

19:04
08/15/18
08/15
19:04
08/15/18
19:04
Initiation
Curtiss-Wright initiated  »

Curtiss-Wright initiated…

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

L3 Technologies

$208.08

-1.73 (-0.82%)

19:03
08/15/18
08/15
19:03
08/15/18
19:03
Initiation
L3 Technologies initiated  »

L3 Technologies initiated…

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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GD

General Dynamics

$192.29

-1.33 (-0.69%)

19:03
08/15/18
08/15
19:03
08/15/18
19:03
Initiation
General Dynamics initiated  »

General Dynamics…

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

Bombardier

$0.00

(0.00%)

19:02
08/15/18
08/15
19:02
08/15/18
19:02
Initiation
Bombardier initiated  »

Bombardier initiated with…

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

Heico

$76.50

-1.81 (-2.31%)

19:00
08/15/18
08/15
19:00
08/15/18
19:00
Initiation
Heico initiated  »

Heico initiated with a…

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

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  • 28

    Aug

  • 13

    Sep

  • 06

    Nov

HRS

Harris

$162.73

-2.15 (-1.30%)

18:59
08/15/18
08/15
18:59
08/15/18
18:59
Initiation
Harris initiated  »

Harris initiated with a…

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

Northrop Grumman

$291.52

-2.35 (-0.80%)

18:59
08/15/18
08/15
18:59
08/15/18
18:59
Initiation
Northrop Grumman initiated  »

Northrop Grumman…

03/08/13
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03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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PNC

PNC Financial

$142.03

-0.7 (-0.49%)

, WFC

Wells Fargo

$57.99

-0.08 (-0.14%)

18:57
08/15/18
08/15
18:57
08/15/18
18:57
Periodicals
PNC faces subpoenas over low-income housing tax credits, Bloomberg says »

PNC Financial (PNC) has…

PNC

PNC Financial

$142.03

-0.7 (-0.49%)

WFC

Wells Fargo

$57.99

-0.08 (-0.14%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Oct

  • 12

    Apr

  • 13

    Jul

  • 15

    Oct

UTX

United Technologies

$131.75

-0.65 (-0.49%)

18:57
08/15/18
08/15
18:57
08/15/18
18:57
Initiation
United Technologies initiated  »

United Technologies…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 17

    Aug

B

Barnes Group

$65.59

-0.26 (-0.39%)

18:56
08/15/18
08/15
18:56
08/15/18
18:56
Initiation
Barnes Group initiated  »

Barnes Group initiated…

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

Spirit AeroSystems

$84.51

-1.6 (-1.86%)

18:55
08/15/18
08/15
18:55
08/15/18
18:55
Initiation
Spirit AeroSystems initiated  »

Spirit AeroSystems…

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

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TDG

TransDigm

$351.43

-5.195 (-1.46%)

18:54
08/15/18
08/15
18:54
08/15/18
18:54
Initiation
TransDigm initiated  »

TransDigm initiated with…

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

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HII

Huntington Ingalls

$240.82

-2.5 (-1.03%)

18:54
08/15/18
08/15
18:54
08/15/18
18:54
Initiation
Huntington Ingalls initiated  »

Huntington Ingalls…

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

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RTN

Raytheon

$194.92

-2.66 (-1.35%)

18:53
08/15/18
08/15
18:53
08/15/18
18:53
Initiation
Raytheon initiated  »

Raytheon initiated with a…

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

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