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BMY

Bristol-Myers

$60.18

-1.03 (-1.68%)

, PFE

Pfizer

$35.79

-0.16 (-0.45%)

07:16
04/12/18
04/12
07:16
04/12/18
07:16

Bristol-Myers price target lowered to $70 from $78 at Citi

Citi analyst Andrew Baum lowered his price target for Bristol-Myers Squibb (BMY) to $70 after Pfizer (PFE) management made clear to him that they had no interest in acquiring Bristol without transformational data or a de-rating in the shares. The analyst removed the $8 per share risk adjusted M&A premium from his Bristol-Myers target price. He views his new price target as conservative, however, and keeps a Buy rating on the name.

BMY

Bristol-Myers

$60.18

-1.03 (-1.68%)

PFE

Pfizer

$35.79

-0.16 (-0.45%)

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BMY Bristol-Myers
$60.18

-1.03 (-1.68%)

03/20/18
JPMS
03/20/18
NO CHANGE
Target $75
JPMS
Overweight
Bristol-Myers price target raised to $75 from $70 at JPMorgan
JPMorgan analyst Chris Schott raised his price target for Bristol-Myers Squibb to $75 saying the company's opportunity in non-lung tumor types is broad and underappreciated. The analyst sees a number of $1B-plus indications for Opdivo beyond non-small-cell lung carcinoma, including kidney, liver, gastric, small cell lung and melanoma. These indications should represent the majority of Opdivo sales over time, Schott tells investors in a research note. The analyst keeps an Overweight rating on Bristol-Myers.
04/06/18
MZHO
04/06/18
NO CHANGE
Target $103
MZHO
Buy
Mizuho says failure of Incyte's epacadostat ups chances of Nektar takeover
Mizuho analyst Difei Yang raised her price target on Nektar Therapeutics (NKTR) to $103 from $89 after Incyte (INCY) announced this morning the failure of epacadostat in combination with Merck's (MRK) Keytruda in a phase 3 study in melanoma patients. Recent clinical data presented by Nektar reinforced her view of NKTR-214 as one of the most impressive combo agent for checkpoint inhibitors, said Yang, who believes that the failure of epacadostat raises the possibility of a takeout by Bristol-Myers (BMY) in the coming months. She maintains a Buy rating on Nektar shares, which are down 8.5% to $92.75 in afternoon trading.
04/09/18
HCWC
04/09/18
NO CHANGE
Target $125
HCWC
Buy
Nektar data 'more robust' than Incyte's, says H.C. Wainwright
The failure of Incyte (INCY) and Merck's (MRK) Phase 3 study negatively impacted trading in Nektar Therapeutics (NKTR) shares on Friday, H.C. Wainwright analyst Debjit Chattopadhyay tells investors in a research note titled "Collateral Damage Not Surprising; Expecting ASCO-18 to Validate the Master T Cell Regulator Hypothesis." At this year's American Society of Clinical Oncology meeting, the analyst expects Nektar and partner Bristol-Myers Squibb (BMY) to unveil data from at least 40 advanced melanoma patients "supported by in-depth biomarker characterization to comprehensively ascertain the rationale of combining NKTR-214 with Opdivo." The rationale for combining NKTR-214 with Opdivo is "more robust" than epacadostat plus Keytruda, the analyst contends. Further, he believes data generated by the NKTR-214 plus Opdivo combination is "unambiguous." Chattopadhyay reiterates a Buy rating on Nektar shares with a $125 price target.
04/12/18
SBSH
04/12/18
NO CHANGE
SBSH
Sell
Pfizer has no interest in acquiring Bristol-Myers right now, says Citi
Citi analyst Andrew Baum says Pfizer's (PFE) CEO made it clear to him that the company has no interest in acquiring Bristol-Myers Squibb (BMY) in the absence of transformational data or a de-rating in the shares. Pfizer has high conviction in its current pipeline and believes that the return on investment is considerably higher than high risk transformational deals, particularly in the immuno-oncology space, Baum tells investors in a research note. The analyst expects Pfizer will meaningfully increase its current share repurchase program from the current $5B-$6B per annum to offset the earnings dilution from higher anticipated R&D investment to monetize its current pipeline. Baum keeps a Sell rating on Pfizer and continues to prefer shares of Merck (MRK), Bristol and Eli Lilly (LLY) in the U.S. The analyst lowered his price target for Bristol shares to $70 from $78 with Pfizer backing away from a potential takeover. He keeps a Buy rating on the shares, however.
PFE Pfizer
$35.79

-0.16 (-0.45%)

04/05/18
LEHM
04/05/18
DOWNGRADE
Target $38
LEHM
Equal Weight
Pfizer downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoffrey Meacham downgraded Pfizer to Equal Weight and lowered his price target for the shares to $38 from $41. The analyst believes the stock at current levels largely capture the upside for key products like Prevnar, Ibrance, Xeljanz and Xtandi. He believes a transformative acquisition to accelerate Pfizer's growth is now less likely in the near term.
04/05/18
LEHM
04/05/18
NO CHANGE
LEHM
Barclays upgrades Merck, downgrades Biogen and Pfizer in sector reassessment
Barclays analyst Geoff Meacham made some rating changes while reassessing the Biopharmaceutical sector. Biopharma sentiment has been negative since the start of 2018, despite a modest pick-up in deals and diminished rhetoric on drug pricing, Meacham tells investors in a research note titled "U.S. Biopharmaceuticals: Where to from here?" The analyst believes "more transformative" acquisitions, "clean" Phase 3 wins, and even a relatively strong Q1 earnings season could help "re-rate the sector" and get investors more engaged in the group. Ahead of the Q1 earnings season, Meacham upgraded Merck (MRK) to Overweight from Equal Weight and downgraded to Equal Weight from Overweight shares of Biogen (BIIB), Pfizer (PFE), Biohaven Pharmaceutical (BHVN) and Myovant Sciences (MYOV). The analyst also lowered his price target for Equal Weight-rated AbbVie (ABBV) to $102 from $120, for Equal Weight-rated Amgen (AMGN) to $180 from $180, for Overweight-rated Prothena (PRTA) to $50 from $70 and for Overweight-rated Incyte (INCY) to $135 from $165.
04/05/18
04/05/18
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. Intel (INTC) downgraded to Hold from Buy at Stifel with analyst Kevin Cassidy citing the peaking server central processing unit cycle and valuation for the downgrade. 2. Johnson Controls (JCI) downgraded to Underperform from Sector Perform at RBC Capital with analyst Deane Dray citing the company's exposure to additional cash flow pressures in fiscal 2018, reduction in fiscal 2020 targets, and a market rotation toward "more defensive names." 3. Ryder (R) downgraded to Underweight from Neutral at JPMorgan with analyst Brian Ossenbeck saying he is making a "longer term call on 2019 expectations," which he believes are too high and embed "significant gains on residual values and used truck sales." 4. Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying valuation is getting "richer," quarterly comps have been decelerating since 2015, and are now expected to be 1%-2% in 2018. 5. Biogen (BIIB), Pfizer (PFE), Biohaven (BHVN), and Myovant Sciences (MYOV) were downgraded to Equal Weight from Overweight at Barclays. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AMBO

Ambow Education

$5.04

(0.00%)

09:10
11/20/18
11/20
09:10
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09:10
Conference/Events
Ambow Education management to meet with Benchmark »

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TPNL

3PEA International

$3.90

0.12 (3.17%)

09:05
11/20/18
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Hot Stocks
3PEA International appoints Dana Barciz as Chief Marketing Officer »

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UNH

UnitedHealth

$266.04

-5.21 (-1.92%)

09:05
11/20/18
11/20
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09:05
Conference/Events
UnitedHealth to host investor meeting »

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GE

General Electric

$7.84

-0.2 (-2.49%)

09:04
11/20/18
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Hot Stocks
Dragos, GE launch collaboration to strengthen industrial control systems »

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FIVN

Five9

$38.41

-4.52 (-10.53%)

09:04
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11/20
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Hot Stocks
Five9 selected bu gaming manufacturer to meet compliance contact center »

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LC

LendingClub

$3.42

-0.13 (-3.66%)

09:03
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11/20
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09:03
Hot Stocks
LendingClub issued over $1B in CLub certificates sin launch »

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LOW

Lowe's

$91.34

-1.95 (-2.09%)

, TGT

Target

$77.13

-1.9 (-2.40%)

09:03
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11/20
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09:03
Hot Stocks
Fly Intel: Pre-market Movers »

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LOW

Lowe's

$91.34

-1.95 (-2.09%)

TGT

Target

$77.13

-1.9 (-2.40%)

LB

L Brands

$34.53

-0.75 (-2.13%)

MU

Micron

$36.82

-2.63 (-6.67%)

BBY

Best Buy

$62.19

-4.22 (-6.35%)

ODP

Office Depot

$2.94

-0.165 (-5.32%)

PSTG

Pure Storage

$17.56

-1.56 (-8.16%)

CPB

Campbell Soup

$38.47

-0.17 (-0.44%)

ADI

Analog Devices

$85.55

-3.94 (-4.40%)

URBN

Urban Outfitters

$35.61

-1.45 (-3.91%)

KSS

Kohl's

$70.75

-1.73 (-2.39%)

03/08/13
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AMZN

Amazon.com

$1,511.67

-81.92 (-5.14%)

09:02
11/20/18
11/20
09:02
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09:02
Hot Stocks
Amazon Web Services, Pac-12 Conference extend strategic relationship »

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MDT

Medtronic

$90.40

-3.28 (-3.50%)

09:02
11/20/18
11/20
09:02
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09:02
Hot Stocks
Medtronic says 'more excited than ever' on product pipeline »

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CRNT

Ceragon Networks

$4.30

0.07 (1.65%)

09:02
11/20/18
11/20
09:02
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09:02
Hot Stocks
Zurich Technology Solutions announces agreement with Ceragon Networks »

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CRM

Salesforce

$121.00

-11.59 (-8.74%)

09:00
11/20/18
11/20
09:00
11/20/18
09:00
Recommendations
Salesforce analyst commentary  »

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08:57
11/20/18
11/20
08:57
11/20/18
08:57
General news
Redbook Store Sales data reported »

Week of 11/17 Redbook…

CBRL

Cracker Barrel

$174.86

5.18 (3.05%)

08:56
11/20/18
11/20
08:56
11/20/18
08:56
Downgrade
Cracker Barrel rating change  »

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  • 27

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EQM

EQT Midstream Partners

$47.77

-0.68 (-1.40%)

08:55
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11/20
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08:55
Upgrade
EQT Midstream Partners rating change  »

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GE

General Electric

$7.84

-0.2 (-2.49%)

, BAC

Bank of America

$27.76

(0.00%)

08:55
11/20/18
11/20
08:55
11/20/18
08:55
Options
Notable open interest changes for November 20th »

Monday's total…

GE

General Electric

$7.84

-0.2 (-2.49%)

BAC

Bank of America

$27.76

(0.00%)

AAPL

Apple

$185.80

-7.62 (-3.94%)

NVDA

Nvidia

$144.66

-19.72 (-12.00%)

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ETRN

Equitrans Midstream

$20.53

-0.34 (-1.63%)

08:55
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11/20
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08:55
Initiation
Equitrans Midstream initiated  »

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ZOES

Zoe's Kitchen

$12.75

0.01 (0.08%)

08:55
11/20/18
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Conference/Events
Zoe's Kitchen to host special shareholder meeting »

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BKI

Black Knight

$45.54

-4.23 (-8.50%)

, DNB

Dun & Bradstreet

$142.62

0.35 (0.25%)

08:53
11/20/18
11/20
08:53
11/20/18
08:53
Recommendations
Black Knight, Dun & Bradstreet analyst commentary  »

Black Knight investment…

BKI

Black Knight

$45.54

-4.23 (-8.50%)

DNB

Dun & Bradstreet

$142.62

0.35 (0.25%)

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  • 03

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MITK

Mitek Systems

$9.42

-0.425 (-4.32%)

08:52
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Hot Stocks
Elliott expresses concern over Mitek's refusal to engage with ASG Technologies »

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INTU

Intuit

$198.50

-12.85 (-6.08%)

08:51
11/20/18
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08:51
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Intuit analyst commentary  »

Intuit price target…

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TGT

Target

$77.13

-1.9 (-2.40%)

08:50
11/20/18
11/20
08:50
11/20/18
08:50
Hot Stocks
Breaking Hot Stocks news story on Target »

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  • 20

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SPB

Spectrum Brands

$48.20

-11.16 (-18.80%)

08:49
11/20/18
11/20
08:49
11/20/18
08:49
Downgrade
Spectrum Brands rating change  »

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TGT

Target

$77.13

-1.9 (-2.40%)

08:46
11/20/18
11/20
08:46
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08:46
Hot Stocks
Target CEO 'very excited' about 2019, 2020 given reception to store remodels »

Target CEO Brian Cornell…

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TGT

Target

$77.13

-1.9 (-2.40%)

08:46
11/20/18
11/20
08:46
11/20/18
08:46
Technical Analysis
Technical Take: Target drops sharply after earnings disappoint »

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PRSP

Perspecta

$20.46

-0.85 (-3.99%)

08:46
11/20/18
11/20
08:46
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08:46
Hot Stocks
Perspecta awarded $89.5M task order by Centers for Medicare & Medicaid »

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