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JPM

JPMorgan

$113.37

2.75 (2.49%)

, WFC

Wells Fargo

$52.70

0.77 (1.48%)

09:00
04/13/18
04/13
09:00
04/13/18
09:00

On The Fly: Pre-market Movers

HIGHER: Pulse Biosciences (PLSE), up 13% after announcing clinical efficacy results of its first multi-center study of Nano-Pulse Stimulation technology for the treatment of seborrheic keratosis lesions... MediciNova (MNOV), up 10% after presenting results from its Phase 2 trial of MN-001 at the International Liver Congress... Broadcom (AVGO), up 4% after the company announced its board has authorized the repurchase by the company of up to $12B of its common stock... Tesla (TSLA), up 3% after CEO Elon Musk tweeted: "Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money." UP AFTER EARNINGS: JPMorgan (JPM), up 1.5%... Citi (C), up 1.5%... Wells Fargo (WFC), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 1.5%. LOWER: Zillow Group (ZG) Class A shares, down 7% after the company expanded its home-flipping program, Zillow Instant offers... Glaukos (GKOS), down 7% after Stifel analyst Jonathan Block downgraded the stock to Hold after his survey of 71 doctors lead him to believe the company's share losses will continue into 2019... Dropbox (DBX), down 6% after Nomura Instinet puts a Reduce rating on the stock with $21 price target.

JPM

JPMorgan

$113.37

2.75 (2.49%)

WFC

Wells Fargo

$52.70

0.77 (1.48%)

C

Citi

$72.13

2.24 (3.21%)

TSLA

Tesla

$294.08

-6.85 (-2.28%)

Z

Zillow

$53.60

0.39 (0.73%)

ZG

Zillow

$53.77

0.36 (0.67%)

PNC

PNC Financial

$151.74

3.05 (2.05%)

PLSE

Pulse Biosciences

$18.18

0.59 (3.35%)

MNOV

MediciNova

$13.23

0.21 (1.61%)

GKOS

Glaukos

$30.67

-0.51 (-1.64%)

AVGO

Broadcom

$239.43

-0.89 (-0.37%)

DBX

Dropbox

$33.27

0.95 (2.94%)

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    Oct

JPM JPMorgan
$113.37

2.75 (2.49%)

03/22/18
EDJN
03/22/18
UPGRADE
EDJN
Buy
JPMorgan upgraded earlier to Buy from Hold at Edward Jones
04/02/18
KEYB
04/02/18
NO CHANGE
KEYB
Efforts to strengthen in-store healthcare offering positive for Walmart, says KeyBanc
KeyBanc analyst Edward Yruma notes that the push to provide consumer-driven and lower-cost healthcare continues its push into retail as The Wall Street Journal reports that Walmart (WMT) is in discussions to acquire or develop a closer partnership Humana (HUM). This is on the heels of Amazon's (AMZN) recent JV with Berkshire Hathaway (BRK.A; BRK.B) and JPMorgan (JPM) to provide healthcare for employees, he adds. The analyst views any efforts to strengthen the in-store healthcare offering as a positive for Walmart's stock.
04/11/18
HSBC
04/11/18
INITIATION
Target $111
HSBC
Hold
JPMorgan initiated with a Hold at HSBC
HSBC analyst Alevizos Alevizakos started JPMorgan with a Hold rating and $111 price target. The analyst sees minimal share upside from current valuation levels.
04/11/18
04/11/18
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. Alphabet (GOOG, GOOGL), Apple (AAPL), and Facebook (FB) were initiated with a Buy at Monness Crespi. 2. Caterpillar (CAT) initiated with a Buy at Buckingham. 3. JPMorgan (JPM) initiated with a Hold at HSBC. 4. eBay (EBAY) assumed with an Overweight at KeyBanc. 5. Ericsson (ERIC) initiated with a Hold at Berenberg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
WFC Wells Fargo
$52.70

0.77 (1.48%)

04/05/18
04/05/18
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. Merck (MRK) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying he believes the company will continue to take share in first-line lung cancer, driven by positive KN-189 and KN-042 data. 2. Acuity Brands (AYI) upgraded to Outperform from Market Perform at JMP Securities with analyst Joseph Osha saying he believes the stock is finally trading at a "reasonable valuation based on reasonable expectations." 3. AMD (AMD) upgraded to Buy from Hold at Stifel with analyst Kevin Cassidy citing valuation and the company's margin expansion potential. 4. Tiffany (TIF) upgraded to Buy from Hold at Loop Capital with analyst Laura Champine saying her initial meeting with the company's new CEO Alessandro Bogliogo added to her confidence. 5. Citi (C) and Wells Fargo (WFC) were upgraded to Buy from Neutral at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/18
UBSW
04/05/18
UPGRADE
Target $60
UBSW
Buy
Wells Fargo upgraded to Buy from Neutral at UBS
UBS analyst Raul Martinez upgraded Wells Fargo (WFC) to Buy while lowering his price target for the shares to $60 from $63. The stock's "substantial" underperformance has created a buying opportunity, Martinez tells investors in a research note. He believes the market is discounting a "sizable" reduction in earnings power versus current estimates. The right sizing of Wells' expense base and capital optimization should eventually help drive improved earnings and profitability, Martinez contends. The analyst this morning also upgraded shares of Citi (C) to Buy from Neutral.
03/06/18
RHCO
03/06/18
INITIATION
Target $25
RHCO
Buy
Cardlytics initiated with a Buy at SunTrust
SunTrust analyst Youssef Squali initiated Cardlytics (CDLX) with a Buy rating and a price target of $25. Squali contends that the discount with which this "leader in the $11B native ad bank market trade" should close once investors become familiar with its "limited inventory, large partnerships and lack of easily identifiable publicly-traded comps", looking beyond the company's longer sales cycle. The analyst also points to Cardlytics pilot partnership with Wells Fargo (WFC) in first party data collection, which could roll out nationwide in 2019 and create more significant revenue growth.
02/21/18
MSCO
02/21/18
NO CHANGE
Target $136
MSCO
Overweight
Morgan Stanley sees JPMorgan turning tax savings into market share gains
Morgan Stanley analyst Betsy Graseck raised her 2022 EPS estimate for JPMorgan (JPM) by 2%, or 34c, stating that she expects the bank to reach top 5 in the 15-20 new markets it previously said it will use a part of its tax savings reinvestments to enter. The 34c in EPS she estimates JPMorgan can add by building out its presence in 20 new markets by 2022 is "far more compelling" than using the same amount of money to buy back stock, which would increase 2022 EPS only 5c, said Graseck. The analyst sees about a third of JPMorgan's new deposit share gains to come from Wells Fargo (WFC) and cut her 2022 EPS forecast for the latter by 1.2%. Graseck keeps an Overweight rating on JPMorgan ahead of the bank's February 27 investor day and increased her price target on the stock to $136 from $133.
C Citi
$72.13

2.24 (3.21%)

04/11/18
HSBC
04/11/18
UPGRADE
Target $85
HSBC
Buy
Citi upgraded to Buy from Hold at HSBC
HSBC analyst Alevizos Alevizakos upgraded Citi to Buy and raised his price target for the shares to $85 from $82. The analyst sees improved profitability in the near-term, driven by U.S. dollar depreciation and tax reform, re-rating the shares higher. He believes the market is not fully appreciating Citi's leading credit card franchise and its growth prospects in Mexico.
04/11/18
04/11/18
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. Citi (C) upgraded to Buy from Hold at HSBC with analyst Alevizos Alevizakos saying he sees improved profitability in the near-term, driven by U.S. dollar depreciation and tax reform, re-rating the shares higher. 2. BHP Billiton (BHP) upgraded to Buy from Hold at Deutsche Bank with analyst Liam Fitzpatrick saying the shares offer compelling value at current levels. 3. Mattel (MAT) upgraded to Hold from Underperform at Jefferies with analyst Stephanie Wissink saying the company's near-term risks are largely known and priced into the shares. 4. AeroVironment (AVAV) upgraded to Buy from Hold at Stifel with analyst Joseph DeNardi saying he sees the company benefiting from tailwinds including an improving defense budget environment, a heightened global threat environment, and "as strong a pipeline of opportunities" as he has seen in ten years. 5. Helmerich & Payne (HP) upgraded to Market Perform from Underperform at Wells Fargo with analyst Judson Bailey citing strength in the land rig market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/18
UBSW
04/05/18
UPGRADE
Target $80
UBSW
Buy
Citi upgraded to Buy from Neutral at UBS
UBS analyst Raul Martinez upgraded Citi to Buy and raised his price target for the shares to $80 from $78. The risk/reward profile of owning the shares now skews positive, Martinez tells investors in a research note. He believes profitability in Citi's Global Consumer Banking "should grind higher" from current levels, while its capital optimization opportunities "remain considerable." The analyst is also encouraged by better loan growth and earnings momentum at Citibanamex. Martinez notes that Citi shares trade at a discount to all the banks he covers.
TSLA Tesla
$294.08

-6.85 (-2.28%)

04/10/18
04/10/18
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. Tesla (TSLA) initiated with a Sell at Vertical Group. 2. Philip Morris (PM) initiated with a Buy at Deutsche Bank. 3. Etsy (ETSY) initiated with a Buy at Loop Capital. 4. Zscaler (ZS) initiated with an Outperform at Credit Suisse and Baird, a Strong Buy at Needham, an Equal Weight at Morgan Stanley, Stephens, and Barclays, a Hold at Deutsche Bank, as well as a Neutral at BofA/Merrill and Goldman Sachs. 5. Equifax (EFX) initiated with an Underperform at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/18
VERF
04/10/18
INITIATION
Target $84
VERF
Sell
Tesla initiated with a Sell at Vertical Group
Vertical Group analyst Gordon Johnson initiated Tesla with a Sell rating and $84 price target.
04/05/18
BERN
04/05/18
NO CHANGE
BERN
BMW, Tesla among 'biggest losers' following Chinese tariffs, says Bernstein
Bernstein analyst Robin Zhu notes that China's Ministry of Commerce announced 25% incremental tariffs on U.S. imports of 106 types of goods, including essentially all automobiles, soy beans, chemicals, aircraft, and other goods. If enforced, this would mean cars imported from the U.S. would face 50% import tariffs, up from the usual 25%. The analyst believes the biggest losers would be BMW (BMWYY), Mercedes (DDAIF), Tesla (TSLA). BMW and Mercedes import the largest volumes of cars from the U.S. into China, followed by is Tesla with14k units of projected imports, he points out.
04/10/18
GSCO
04/10/18
NO CHANGE
Target $195
GSCO
Sell
Tesla price target lowered to $195 from $205 at Goldman Sachs
Goldman Sachs analyst David Tamberrino lowered his price target for Tesla to $195 from $205, while reiterating a Sell rating on the shares. The analyst notes that Tesla shares have seen a recovery following the company's Q1 production and delivery release, mainly on the back of a reiterated target for 5k/week Model 3 production rate exiting Q2 and as the company noted it does not require an equity or debt raise this year. However, the analyst sees the company likely sustaining Model 3 production around the 1,400/week mark, and believes Model S/X demand will likely be challenged going forward with the phase-out of the U.S. EV tax credit in 2H18 as incremental competition launches at the same time. Lastly, he still expects the company to raise capital later this year.
Z Zillow
$53.60

0.39 (0.73%)

04/13/18
04/13/18
NO CHANGE

Hold
Deutsche 'confused but intrigued' by Zillow flipping homes
Deutsche Bank analyst Lloyd Walmsley says he's "confused but intrigued" by Zillow's shift to buying and selling homes. The analyst continues to have "misgivings, lack of certainty, and concerns" about the core business, but says the potential total addressable market if the unit economics can work "could be massive" for Zillow. The company is making "big shift" out of a high margin, asset light, high return on invested capital business model to a "risky capital-intensive move into a low margin business with limited direct competency," Walmsley tells investors in a research note. He keeps a Hold rating on Zillow.
04/13/18
04/13/18
DOWNGRADE
Target $50

Hold
Zillow downgraded at Craig-Hallum after expansion of 'instant offers' program
As previously reported, Craig-Hallum analyst Brad Berning downgraded Zillow (ZG) to Hold from Buy after the company announced the expansion of its Instant Offers program to Phoenix in addition to Las Vegas and Orlando. The program, under which the company buys and sells homes with Premier Agent partners, will require what he estimates to be about $3B of capital, which Zillow intends to fund using its balance sheet, while only creating what he estimates will be about $3B in incremental shareholder value, Berning tells investors. Thus, he sees the expansion as "a wash" for shareholder value, but one that comes at the price of potential added risk. Berning lowered his price target on Zillow to $50 from $58.
04/13/18
MSCO
04/13/18
NO CHANGE
Target $55
MSCO
Overweight
Zillow move into iBuying 'Amazon-esque,' says Morgan Stanley
Morgan Stanley analyst Jonathan Lanterman noted that Zillow (ZG) announced its entrance into "iBuying" with the expansion of its Instant Offers program, via which the company will get into the home buying and selling transaction market. While Zillow will potentially be taking on balance sheet risk and utilizing higher debt loads than it has in the past, Lanterman sees the move to target a market with lower margins but one with a larger total addressable market as "Amazon-esque." He expects investors who were bullish on Zillow to view the entrance into iBuying positively and for already bearish investors to view this move skeptically. Lanterman currently has an Overweight rating on Zillow shares, but noted that his model is under review.
04/13/18
BNCH
04/13/18
NO CHANGE
Target $64
BNCH
Buy
Zillow target upped to $64 after 'surprise' instant offers news at Benchmark
Benchmark analyst Daniel Kurnos called Zillow Group's announcement that it is entering the real estate investment market via its Instant Offers program a surprise that he expects will be "met with significant skepticism by the bears" betting on a slowdown in its core business. However, the parallel announcement of Q1 preliminary results that exceeded consensus, further pricing support from lead platform changes, and Zillow's proven ability to monetize its consumer funnel give him confidence in the new approach and long-term outlook, Kurnos tells investors. He raised his price target on the stock to $64 from $55 and keeps a Buy rating on Zillow.
ZG Zillow
$53.77

0.36 (0.67%)

04/13/18
NEED
04/13/18
NO CHANGE
Target $56
NEED
Buy
Zillow price target raised to $56 from $52 at Needham
Needham analyst Kerry Rice raised his Zillow price target to $56 and kept his Buy rating after the company's preliminary Q1 revenue beat. Rice notes that while Zillow's launch of new home purchase business in Las Vegas and Phoenix could be detrimental to profitability in the short run, in the longer term, the move is "necessary to ward off competition, such as Opendoor, Knock, and HomeLight". The analyst also sees Zillow's Premier Agent partnerships, "extensive" data and consumer insights helping to position the company to gain "considerable traction" in the homes resale market.
04/13/18
LEHM
04/13/18
NO CHANGE
Target $43
LEHM
Equal Weight
Zillow entrance into home buying brings 'meaningful' risks, says Barclays
Zillow's plans to participate in home buying and selling opens up a "significant opportunity" but also brings "meaningful" risks associated with capital needs, cyclical trends, and potential conflicts of interest with agents, Barclays analyst Deepak Mathivanan tells investors in a research note. The analyst keeps an Equal Weight rating on Zillow shares with a $43 price target.
PNC PNC Financial
$151.74

3.05 (2.05%)

01/16/18
RBCM
01/16/18
NO CHANGE
Target $170
RBCM
Top Pick
PNC Financial price target raised to $170 from $145 at RBC Capital
RBC Capital analyst Gerard Cassidy raised his price target to $170 after the bank's above-consensus Q4 earnings driven by "stronger noninterest income and a lower loan loss provision". The analyst also noted a 0.9% increase in PNC's average loan and the expected positive impact from lower U.S. corporate tax rates. Cassidy keeps his Top Pick rating on PNC, forecasting continued strong results in 2018-2019, assuming 2-3 interest rate increases in each year.
01/16/18
RBCM
01/16/18
NO CHANGE
Target $170
RBCM
Top Pick
PNC Financial price target raised to $170 from $145 at RBC Capital
RBC Capital analyst Gerard Cassidy raised his price target to $170 after the bank's above-consensus Q4 earnings driven by "stronger noninterest income and a lower loan loss provision". The analyst also noted a 0.9% increase in PNC's average loan and the expected positive impact from lower U.S. corporate tax rates. Cassidy keeps his Top Pick rating on PNC, forecasting continued strong results in 2018-2019, assuming 2-3 interest rate increases in each year.
01/16/18
WELS
01/16/18
NO CHANGE
Target $157
WELS
Market Perform
PNC Financial price target raised to $157 from $149 at Wells Fargo
Wells Fargo analyst Mike Mayo raised his price target for PNC Financial following a Q4 beat and to reflect lower tax rate. The analyst reiterates a Market Perform rating on the shares.
01/16/18
ARGS
01/16/18
NO CHANGE
Target $170
ARGS
Buy
PNC Financial price target raised to $170 from $150 at Argus
Argus analyst Stephen Biggar raised his price target on PNC Financial (PNC) to $170, citing the company's Q4 earnings beat that also featured a 9% rise in net interest income, a 5% increase in average loans, and a 19bps net interest margin expansion. The analyst also notes PNC Financial's management forecasting a 2018 effective tax rate of 17%, down from 25% paid in 2017. Biggar keeps his Buy rating on PNC Financial, adding that the stock should trade at a premium to peers based on its 21% stake in BlackRock (BLK) which offers a "healthy" recurring dividend stream.
PLSE Pulse Biosciences
$18.18

0.59 (3.35%)

MNOV MediciNova
$13.23

0.21 (1.61%)

04/18/17
FBCO
04/18/17
INITIATION
FBCO
Outperform
MediciNova initiated with an Outperform at Credit Suisse
Credit Suisse analyst Dr Yen Tin Chen initiated MediciNova with an Outperform citing its pipeline of small molecules for neurological and fibrotic diseases with high unmet needs and expects the company to turn profitable from FY12/23.
03/28/18
RILY
03/28/18
INITIATION
Target $22
RILY
Buy
MediciNova initiated with a Buy at B. Riley FBR
B. Riley FBR analyst David Buck started MediciNova with a Buy rating and $22 price target.
GKOS Glaukos
$30.67

-0.51 (-1.64%)

04/13/18
04/13/18
DOWNGRADE
Target $32

Hold
Glaukos downgraded to Hold after doctor survey at Stifel
As previously reported, Stifel analyst Jonathan Block downgraded Glaukos to Hold from Buy after his survey of 71 doctors lead him to believe Glaukos' share losses will continue into 2019, prompting him to lower his revenue estimates. Block has cut his 2019 revenue estimate to $178M, versus consensus of about $189M. He lowered his price target on Glaukos shares to $32 from $39.
04/13/18
STFL
04/13/18
DOWNGRADE
STFL
Hold
Glaukos downgraded to Hold from Buy at Stifel
03/26/18
WELS
03/26/18
NO CHANGE
WELS
Glaukos recent selloff likely unwarranted, says Wells Fargo
Wells Fargo analyst Larry Biegelsen says the magnitude of the recent selloff in shares of Glaukos is likely unwarranted.
03/23/18
PIPR
03/23/18
NO CHANGE
Target $35
PIPR
Overweight
Piper Jaffray tells Glaukos investors not to inflate Inject abstracts
Piper Jaffray analyst Matt O'Brien notes shares of Glaukos are trading lower after abstracts involving the company's technology were released ahead of the American Society of Cataract and Refractive Surgery conference. One abstract showed Glaukos' Inject had a pressure reduction delta that was lower than its two main competitors, O'Brien tells investors in a research note titled "Let's Keep Our Heads About Us with Respect to ASCRS Abstracts." A second abstract demonstrates that Inject does not work that well in stand-alone patients even when two stents are used, he adds. The analyst believes that overall, the abstracts showed that Inject delivers "strong pressure reductions safely." O'Brien believes the second study was not designed well and "really should not be inflated in the minds of investors." He calls the results "just fine," but recommends letting "the smoke clear some on the Ivantis launch before taking large positions." The analyst keeps an Overweight rating on Glaukos with a $35 price target. The stock in midday trading is down 12.5% to $30.05.
AVGO Broadcom
$239.43

-0.89 (-0.37%)

04/13/18
FBCO
04/13/18
NO CHANGE
Target $335
FBCO
Outperform
Broadcom pulled 'lever one' to unlock value, 'two to go,' says Credit Suisse
Credit Suisse analyst John Pitzer reminded investors in a research note that he previously argued that three levers Broadcom could pull to unlock value include using excess free cash flow for share repurchases, report earnings per share inclusive of SBC and hosting an analyst day at least once every other year. Pitzer said Broadcom pulled the first lever, announcing a $12B share repurchase authorization on Thursday, and sees further potential for "lever two" and "lever three" to be pulled throughout 2018. Pitzer noted that Broadcom has not hosted an analyst day since 2012, but that holding one would allow the company to showcase the breadth and depth of its product porfolio as well as its "much stronger" bench of management than most appreciate.
04/13/18
MSCO
04/13/18
NO CHANGE
Target $305
MSCO
Overweight
Morgan Stanley says multiple expansion alone should drive Broadcom up 8%-15%
Morgan Stanley analyst Craig Hettenbach said he views Broadcom's $12B buyback authorization as much more than just a financial move, seeing it as an endorsement of the company's undervalued core business as well. He estimates that every $10B in buybacks can add about 5% to Broadcom's annual EPS, but also thinks the stock's multiple should begin to expand by at least 1-2 points, which would drive Broadcom shares higher by 8%-15% before even considering any EPS accretion or ongoing EPS growth. Hettenbach reiterates an Overweight rating and $305 price target on Broadcom shares.
04/13/18
SBSH
04/13/18
INITIATION
Target $300
SBSH
Buy
Citi assumes Broadcom at Buy, says Xilinx possible next target
Citi analyst Christopher Danely resumed coverage of Broadcom (AVGO) with a Buy rating and $300 price target citing strength in the core business and accretion from acquisitions. The analyst believes Broadcom can grow its revenue at 8% annually over the next two years, above the average historical semiconductor industry growth of 5%. He estimates the most recent acquisition of Brocade is roughly $1.32, or 8%, accretive to Broadcom's combined 2019 earnings per share of $18.43. Danely believes Xilinx (XLNX) could be Broadcom's next acquisition target. He sees the deal being $1.06, or 6% accretive to earnings per share.
04/13/18
JPMS
04/13/18
NO CHANGE
JPMS
Overweight
Broadcom buyback reflects strong business and cash flow, says JPMorgan
JPMorgan analyst Harlan Sur believes Broadcom's $12B share repurchase authorization is a reflection of the company's strong business and cash flow. He believes the stock's post earnings underperformance, 10% free cash flow yield, 3% dividend yield, combined with current solid business trends and strong anticipated cash flow generation, were all drivers of the repurchase program. The analyst would be a buyers of the stock at current levels and reiterates an Overweight rating on Broadcom.
DBX Dropbox
$33.27

0.95 (2.94%)

04/12/18
NOMU
04/12/18
INITIATION
Target $21
NOMU
Reduce
Dropbox initiated with a Reduce at Nomura Instinet
Nomura initiated Dropbox with a Reduce and $21 price target.
03/21/18
03/21/18
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. Celgene (CELG) reinstated with an Overweight at JPMorgan. 2. ConvergeOne (CVON) initiated with a Buy at BTIG. 3. Dropbox (DBX) initiated with a Buy at DA Davidson. 4. Diffusion Pharmaceuticals (DFFN) initiated with a Buy at H.C. Wainwright. 5. Xcerra (XCRA) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/13/18
NOMU
04/13/18
INITIATION
Target $21
NOMU
Reduce
Nomura Instinet puts Reduce rating on Dropbox with $21 price target
Nomura Instinet analyst Christopher Eberle last night initiated Dropbox (DBX) with a Reduce rating and $21 price target. The shares closed yesterday up 95c to $33.27. Dropbox's "consistently low" penetration rates, "extremely low" conversion rates, and lack of enterprise salesforce creates little room for upside potential, Eberle tells investors in a research note. If trends do not improve, the shares have "significant downside," the analyst argues. Eberle admits, however, that Dropbox has positioned itself as a top player in the backup storage and workplace collaboration space. The company is a "staunch competitor" to Microsoft's (MSFT) OneDrive, Google's (GOOG, GOOGL) Drive and Apple's (AAPL) iCloud, Eberle contends.
03/21/18
DADA
03/21/18
INITIATION
Target $22
DADA
Buy
Dropbox initiated with a Buy at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Dropbox with a Buy rating and a price target of $22 following the company's IPO pricing. Jaluria says that Dropbox offers a "differentiated strategy, rapid growth, strong cash flow margins, and a reasonable valuation". The analyst is also positive on the company's low marketing expenses thanks to its 90% of overall revenues coming from self-serve channels as well as becoming the second fastest technology company to reach $1B in revenues in just 11 years.

TODAY'S FREE FLY STORIES

CE

Celanese

$97.01

-2.76 (-2.77%)

16:37
10/18/18
10/18
16:37
10/18/18
16:37
Earnings
Celanese raises FY18 adjusted EPS view to $10.90-$11.10 from $10.50-$10.75 »

Consensus for FY18 EPS is…

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

See Street Research during your Free Trial

  • 19

    Oct

JACK

Jack in the Box

$79.90

-2.29 (-2.79%)

16:36
10/18/18
10/18
16:36
10/18/18
16:36
Initiation
Jack in the Box initiated  »

Jack in the Box initiated…

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

See Street Research during your Free Trial

NVS

Novartis

$86.24

0.9 (1.05%)

, ECYT

Endocyte

$23.40

7.85 (50.48%)

16:35
10/18/18
10/18
16:35
10/18/18
16:35
General news
Fly Intel: Wall Street's top stories for Thursday »

Stocks opened in negative…

NVS

Novartis

$86.24

0.9 (1.05%)

ECYT

Endocyte

$23.40

7.85 (50.48%)

TRV

Travelers

$125.08

-1.39 (-1.10%)

KO

Coca-Cola

$45.64

-0.22 (-0.48%)

AAPL

Apple

$215.98

-5.22 (-2.36%)

NFLX

Netflix

$346.71

-18.24 (-5.00%)

AMZN

Amazon.com

$1,771.45

-61.36 (-3.35%)

ACHC

Acadia

$38.57

2.8 (7.83%)

AA

Alcoa

$38.85

2.14 (5.83%)

APLS

Apellis

$13.80

-2.85 (-17.12%)

SNA

Snap-On

$151.46

-16.15 (-9.64%)

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    Oct

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    Oct

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    Oct

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    Oct

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    Oct

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    Oct

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    Nov

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    Nov

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    Mar

CE

Celanese

$97.01

-2.76 (-2.77%)

16:35
10/18/18
10/18
16:35
10/18/18
16:35
Earnings
Celanese reports Q3 adjusted EPS $2.96, consensus $2.74 »

Reports Q3 revenue…

03/08/13
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  • 19

    Oct

16:34
10/18/18
10/18
16:34
10/18/18
16:34
General news
Fed Balance Sheet Level data reported »

Week of 10/17 Fed Balance…

16:34
10/18/18
10/18
16:34
10/18/18
16:34
General news
Money Supply M2 Weekly Change data reported »

Week of 10/8 Money Supply…

ARGO

Argo Group

$60.43

-0.02 (-0.03%)

16:34
10/18/18
10/18
16:34
10/18/18
16:34
Hot Stocks
Argo Group sees Q3 pre-tax catastrophe losses of roughly $25M »

Argo Group announced a…

03/08/13
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03/06/13
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03/06/13
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  • 06

    Nov

  • 28

    Nov

GBCI

Glacier Bancorp

$41.19

-0.91 (-2.16%)

16:34
10/18/18
10/18
16:34
10/18/18
16:34
Earnings
Glacier Bancorp reports Q3 EPS 58c, consensus 60c »

Reports net interest…

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  • 19

    Oct

DNKN

Dunkin' Brands

$73.59

-0.88 (-1.18%)

16:34
10/18/18
10/18
16:34
10/18/18
16:34
Initiation
Dunkin' Brands initiated  »

Dunkin' Brands…

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  • 25

    Oct

ENFC

Entegra Financial

$23.80

-0.43 (-1.77%)

16:33
10/18/18
10/18
16:33
10/18/18
16:33
Earnings
Entegra Financial reports Q3 adjusted EPS 51c, consensus 56c »

Roger D. Plemens,…

03/08/13
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  • 19

    Oct

PLAY

Dave & Buster's

$59.90

-1.7 (-2.76%)

16:32
10/18/18
10/18
16:32
10/18/18
16:32
Initiation
Dave & Buster's initiated  »

Dave & Buster's…

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CAL

Caleres

$33.29

-0.79 (-2.32%)

16:32
10/18/18
10/18
16:32
10/18/18
16:32
Hot Stocks
Caleres acquires Vionic for $360M »

Caleres announced it has…

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NTR

Nutrien

$54.54

-1.125 (-2.02%)

16:31
10/18/18
10/18
16:31
10/18/18
16:31
Upgrade
Nutrien rating change  »

Nutrien upgraded to Buy…

03/08/13
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  • 13

    Nov

MU

Micron

$41.30

-1.06 (-2.50%)

, INTC

Intel

$44.98

-0.92 (-2.00%)

16:31
10/18/18
10/18
16:31
10/18/18
16:31
Hot Stocks
Micron intends to acquire remaining interest in IM Flash JV for about $1.5B »

Micron (MU) announced…

MU

Micron

$41.30

-1.06 (-2.50%)

INTC

Intel

$44.98

-0.92 (-2.00%)

03/08/13
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  • 22

    Oct

  • 25

    Oct

SFIX

Stitch Fix

$25.65

0.34 (1.34%)

, ZEN

Zendesk

$61.68

-1.29 (-2.05%)

16:31
10/18/18
10/18
16:31
10/18/18
16:31
Hot Stocks
Stitch Fix adds Mikkel Svane to Board of Directors »

Stitch Fix (SFIX)…

SFIX

Stitch Fix

$25.65

0.34 (1.34%)

ZEN

Zendesk

$61.68

-1.29 (-2.05%)

03/08/13
Wedge Partners
03/08/13
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  • 30

    Oct

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    Nov

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    Dec

SYMC

Symantec

$19.97

-0.595 (-2.89%)

16:31
10/18/18
10/18
16:31
10/18/18
16:31
Initiation
Symantec initiated  »

Symantec initiated with a…

03/08/13
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  • 22

    Oct

  • 06

    Dec

AAPL

Apple

$215.98

-5.22 (-2.36%)

16:30
10/18/18
10/18
16:30
10/18/18
16:30
Initiation
Apple initiated  »

Apple initiated with an…

03/08/13
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QLYS

Qualys

16:30
10/18/18
10/18
16:30
10/18/18
16:30
Initiation
Qualys initiated  »

Qualys initiated with an…

03/08/13
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DRI

Darden

16:30
10/18/18
10/18
16:30
10/18/18
16:30
Initiation
Darden initiated  »

Darden initiated with an…

03/08/13
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XOG

Extraction Oil & Gas

$10.49

-0.3 (-2.78%)

16:30
10/18/18
10/18
16:30
10/18/18
16:30
Hot Stocks
Extraction Oil & Gas sees Q3 average net sales volume of 75.7K BOE/d »

Sees FY18 production of…

03/08/13
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  • 06

    Nov

VMW

VMware

$145.51

-2.76 (-1.86%)

16:30
10/18/18
10/18
16:30
10/18/18
16:30
Initiation
VMware initiated  »

VMware initiated with an…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 22

    Oct

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    Oct

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    Oct

  • 06

    Dec

ADBE

Adobe

$250.46

-8.44 (-3.26%)

16:30
10/18/18
10/18
16:30
10/18/18
16:30
Initiation
Adobe initiated  »

Adobe initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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16:30
10/18/18
10/18
16:30
10/18/18
16:30
Options
Preliminary option volume of 23.8M today »

Preliminary option volume…

VLO

Valero

$103.31

-0.36 (-0.35%)

, VLP

Valero Energy Partners

$39.94

0.5 (1.27%)

16:29
10/18/18
10/18
16:29
10/18/18
16:29
Hot Stocks
Valero to acquire Valero Energy Partners for $42.25 per common unit in cash »

Valero Energy Corporation…

VLO

Valero

$103.31

-0.36 (-0.35%)

VLP

Valero Energy Partners

$39.94

0.5 (1.27%)

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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  • 25

    Oct

  • 25

    Oct

INAP

Internap

$11.00

-0.8 (-6.78%)

16:28
10/18/18
10/18
16:28
10/18/18
16:28
Syndicate
Internap files to sell common stock, no amount given »

Jefferies and Credit…

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

    Nov

  • 15

    Nov

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