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PEP

PepsiCo

$101.11

-0.32 (-0.32%)

, ABBV

AbbVie

$91.91

0.57 (0.62%)

20:25
04/25/18
04/25
20:25
04/25/18
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include PepsiCo (PEP), consensus 93c... AbbVie (ABBV), consensus $1.79... Union Pacific (UNP), consensus $1.66... UPS (UPS), consensus $1.55... Bristol-Myers Squibb (BMY), consensus 85c... ConocoPhillips (COP), consensus 74c... Time Warner (TWX), consensus $1.74... Raytheon (RTN), consensus $2.11... CME Group (CME), consensus $1.83... General Motors (GM), consensus $1.28... Illinois Tool Works (ITW), consensus $1.78... S&P Global (SPGI), consensus $1.97... Valero Energy (VLO), consensus $1.06... Praxair (PX), consensus $1.56... Southwest Airlines (LUV), consensus 74c... Hilton Worldwide (HLT), consensus 51c... Royal Caribbean Cruises (RCL), consensus 96c... Alexion Pharmaceuticals (ALXN), consensus $1.50... International Paper (IP), consensus 91c... MGM Resorts (MGM), consensus 29c... Hershey (HSY), consensus $1.14... D.R. Horton (DHI), consensus 85c... Nielsen (NLSN), consensus 21c... Domino's Pizza (DPZ), consensus $1.77... Tractor Supply (TSCO), consensus 57c... Dunkin' Brands (DNKN), consensus 53c... Carter's (CRI), consensus 98c... LendingTree (TREE), consensus $1.12... Spirit Airlines (SAVE), consensus 43c... KBR (KBR), consensus 29c.

PEP

PepsiCo

$101.11

-0.32 (-0.32%)

ABBV

AbbVie

$91.91

0.57 (0.62%)

UNP

Union Pacific

$136.11

3.3 (2.48%)

UPS

UPS

$108.54

0.34 (0.31%)

BMY

Bristol-Myers

$51.78

0.2 (0.39%)

COP

ConocoPhillips

$65.07

-0.24 (-0.37%)

TWX

Time Warner

$96.27

0.25 (0.26%)

RTN

Raytheon

$213.25

-5.5 (-2.51%)

CME

CME Group

$161.07

-0.52 (-0.32%)

GM

General Motors

$38.10

0.18 (0.47%)

ITW

Illinois Tool Works

$151.68

2.1 (1.40%)

SPGI

S&P Global

$189.68

0.62 (0.33%)

VLO

Valero

$108.68

0.37 (0.34%)

PX

Praxair

$149.84

3.05 (2.08%)

LUV

Southwest

$53.85

-0.03 (-0.06%)

HLT

Hilton

$81.85

-0.19 (-0.23%)

RCL

Royal Caribbean

$118.49

1.2 (1.02%)

ALXN

Alexion

$106.07

-0.37 (-0.35%)

IP

International Paper

$53.44

0.68 (1.29%)

MGM

MGM Resorts

$35.32

-0.2 (-0.56%)

HSY

Hershey

$93.51

0.7 (0.75%)

DHI

D.R. Horton

$44.94

1.195 (2.73%)

NLSN

Nielsen

$34.34

0.835 (2.49%)

DPZ

Domino's Pizza

$233.00

0.925 (0.40%)

TSCO

Tractor Supply

$62.21

1 (1.63%)

DNKN

Dunkin' Brands

$62.13

0.92 (1.50%)

CRI

Carter's

$104.96

0.95 (0.91%)

TREE

LendingTree

$307.20

-20.45 (-6.24%)

SAVE

Spirit Airlines

$37.64

-0.615 (-1.61%)

KBR

KBR

$16.02

-0.255 (-1.57%)

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PEP PepsiCo
$101.11

-0.32 (-0.32%)

04/17/18
GSCO
04/17/18
DOWNGRADE
Target $110
GSCO
Sell
PepsiCo downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Judy Hong downgraded PepsiCo (PEP) to Sell and lowered her price target for the shares to $110 from $118. The potential for continued softer North American Beverage volumes could weigh on the company's organic sales growth, Hong tells investors in a research note. She believes PepsiCo's organic growth underperformance relative to Coca-Cola (KO) could widen. Further, Coca-Cola's current price-to-earnings premium versus PepsiCo of 10% could widen to 15%, the analyst contends.
04/17/18
04/17/18
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. PepsiCo (PEP) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying the potential for continued softer North American Beverage volumes could weigh on the company's organic sales growth. 2. Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying the Opdivo + Yervoy combination showed worse efficacy cross-trial compared to Merck's (MRK) Keytruda+chemo combo. 3. Acacia (ACIA) downgraded to Neutral from Buy at BofA/Merrill and to Neutral from Overweight at Piper Jaffray. 4. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying the company has "considerable tailwinds" in its core North America containerboard business, as well as strong conditions in the pulp and paper business, but sees the potential acquisition of Smurfit Kappa (SMFTF) clouding the picture while producing a "considerable valuation overhang." 5. WWE (WWE) downgraded to Neutral from Overweight at JPMorgan with analyst David Karnovsky saying he views the stock's current risk/reward as more balanced ahead of the company's media rights cycle. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/14/18
02/14/18
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. PepsiCo (PEP) downgraded to In Line from Outperform at Evercore ISI with analyst Robert Ottenstein saying that while the company's dividend increase is "important and positive," he no longer expects the company to outperform in the beverage sector amid an "array of issues" at North America Beverage segment limiting upside performance. 2. Spark Therapeutics (ONCE) downgraded to Neutral from Overweight at JPMorgan with analyst Cory Kasimov saying he remains optimistic about the long-term outlook for the company, but notes the shares are now within 10% of his price target following the recent rally. 3. Chimerix (CMRX) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying with base-case timing for the AdAPT data well over a year away, the shares will underperform over the near term. 4. Avis Budget (CAR) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying he believes transitory benefits from Hurricane recovery demand are waning, and headwinds from reduced residual values, higher interest rates, continued competition, and increased SG&A expenses will pressure Avis' earnings outlook. 5. Lexicon (LXRX) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying the Xermelo launch remains slow, and consensus estimates of $55M and $99M for 2018 and 2019 are too high. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/17/18
GSCO
04/17/18
UPGRADE
Target $46
GSCO
Neutral
Coca-Cola upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Coca-Cola (KO) to Neutral while reducing her price target for the shares to $46 from $47. The analyst coupled the upgrade with a downgrade of PepsiCo (PEP) to Sell. For Coca-Cola, the analyst sees an improving organic sales growth outlook, "cleaner base" post-refranchising, and better visibility on its margin and earnings targets. She calls the company "one of the rare" over 4% organic growth mega-cap stories in Americas Beverages.
ABBV AbbVie
$91.91

0.57 (0.62%)

04/10/18
BARD
04/10/18
NO CHANGE
Target $84
BARD
Outperform
Neurocrine PDUFA delay 'shock' creates buying opportunity, says Baird
Baird analyst Brian Skorney noted that AbbVie (ABBV) and Neurocrine Biosciences (NBIX) announced that the PDUFA date for elagolix in endometriosis-associated pain has been extended three months. While "a bit of a shock," Skorney does not think there has been "any hint of a liver signal for elagolix, to date," and the delay is driven more by an overabundance of caution at the FDA amid its simultaneous review of Esmya, where cases of liver failure have been seen. He recommends using the dip in Neurocrine as a buying opportunity and keeps an Outperform rating and $84 price target on the stock.
04/10/18
PIPR
04/10/18
NO CHANGE
PIPR
Overweight
Piper Jaffray remains bullish on AbbVie, Neurocrine
Piper Jaffray analyst Christopher Raymond reiterated an Overweight rating on AbbVie (ABBV) and Neurocrine (NBIX) shares following this morning's news that the PDUFA date for elagolix for endometriosis will be extended by three months to Q3, as FDA requires extended time to review the results of liver function tests as part of the NDA. For the analyst, the news comes as a bit of a "head-scratcher." Nonetheless, Raymond fully expects Q3 approval.
04/24/18
WBLR
04/24/18
NO CHANGE
WBLR
Incyte may trade flat or slightly up on panel outcome, says William Blair
William Blair analyst Y. Katherine Xu views yesterday's FDA panel, supporting approval of baricitinib at the 2 mg dose but voting against the 4 mg dose, as largely in line with expectations given the doubts raised in the briefing documents and during the panel discussion. Based on the panel's recommendation, the analyst maintains her 90% probability of success for baricitinib 2 mg to be approved in the United States by its action date in June. While an approval will be positive, the narrower label and restriction to the lower dose may limit baricitinib's market share, Xu tells investors in a research note. She believes Incyte (INCY) shares may trade flat or slightly positive on this outcome. The stock in premarket trading us down 4% to $65.60. Xu views the baricitinib panel outcome as a "slight net positive" to upadacitinib of AbbVie (ABBV).
04/06/18
GSCO
04/06/18
NO CHANGE
Target $135
GSCO
Buy
AbbVie management remains confident in stem platform, says Goldman Sachs
Goldman Sachs analyst Jami Rubin kept her Buy rating and $135 price target on AbbVie, saying that in her latest investor meetings with the company, the management was "stunned" by the magnitude of market cap lost after the topline results of TRINITY on March 22nd. Despite the disappointing trial data, Rubin says that AbbVie management remains confident in its stem platform as its "single agent activity and clean safety profile" validate the therapy. Rubin also believes that the market overreacted, wrongly interpreting the FDA decision by removing the entire Rova-T and stem platform opportunity from AbbVie's valuation model.
UNP Union Pacific
$136.11

3.3 (2.48%)

03/02/18
BERN
03/02/18
NO CHANGE
Target $61
BERN
Market Perform
CSX 'setting the bar higher' for peers following Investor Day, says Bernstein
Bernstein analyst David Vernon said CSX (CSX) is "setting the bar higher" for peers Norfolk Southern (NSC) and Union Pacific (UNP) following CSX's long-anticipated Investor Day. At the event, the company met its main goal of demonstrating "enough management depth to make the realization of longer term operating ratio targets believable," he said. Additionally, Vernon said guidance targets overall were in line with consensus expectations by 2020, but cautions that the Street may be "too optimistic" for 2018. Following CSX's Investor Day, Vernon said he is "modestly" more bullish on the company, and thinks the company's ability to articulate a story on cost, demonstrate management depth, and provide hope for growth after 2018 will be viewed "constructively" by the market. Vernon, who has a Market Perform rating on CSX, raised his price target on shares to $61 from $58.
04/02/18
DBAB
04/02/18
UPGRADE
Target $158
DBAB
Buy
Union Pacific upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Amit Mehrotra upgraded Union Pacific to Buy and raised his price target for the shares to $158 from $137.
04/02/18
DBAB
04/02/18
UPGRADE
DBAB
Buy
Deutsche upgrades three Transports to Buy following recent selloffs
Deutsche Bank analyst Amit Mehrotra upgraded to Buy from Hold shares of J.B. Hunt (JBHT), Union Pacific (UNP) and Werner Enterprises (WERN). The analyst remains positive on the backdrop for U.S. Transportation stocks and believes the recent share pullbacks bring attractive entry points. Both U.S. industrial production and U.S. GDP growth are accelerating for the first time in unison since 2004, Mehrotra tells investors in a research note on the sector. He also points out that truckload demand and pricing are up significantly year-over-year.
04/16/18
LOOP
04/16/18
NO CHANGE
Target $145
LOOP
Hold
Union Pacific price target raised to $145 at Loop Capital on receding challenges
Loop Capital analyst Rick Paterson raised his price target on Union Pacific to $145 from $137, saying the company has struggled with execution on volume, pricing, and operating efficiency, losing market share to competition while the railroad industry remains in a "post-renaissance funk" since 2015. However, the analyst adds that these operating problems are "rapidly receding" as the inefficiencies around locomotive/crew supply are being resolved over the past 4 weeks. Paterson further notes that he may review the multiple on the industry, while warning that multiple compression from post tax benefit "normalization" could prove to be a threat to rail stocks, keeping his Hold rating on Union Pacific.
UPS UPS
$108.54

0.34 (0.31%)

04/25/18
DBAB
04/25/18
NO CHANGE
DBAB
Amazon to see modest impact from Postal Service review, says Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley believes President Trump's task force to scrutinize the finances of the U.S. Postal Service will have only a modest impact on Amazon.com (AMZN). The potential outcomes look "much more benign for Amazon than headlines and bluster would suggest," Walmsley tells investors in a research note, citing Postal Regulatory Commission data and discussions with industry contacts. Further, the analyst sees "potentially significant positive implications" for both FedEx (FDX) and UPS (UPS).
04/03/18
BARD
04/03/18
NO CHANGE
BARD
Outperform
USPS raising rates may accelerate Amazon's last-mile efforts, says Baird
Following the latest series of tweets from President Trump aimed at Amazon (AMZN), Baird analyst Colin Sebastian said the e-commerce giant "clearly" has risks to its shipping margins if the USPS increases fees. However, he would expect any significant contract changes would see Amazon reallocate volume to UPS (UPS) and FedEx (FDX) as well as accelerate the pace of its internal last-mile delivery efforts. Sebastian also points out that data indicate that the number of U.S. e-commerce jobs added since the end of the recession far exceeds the net decrease in physical retail jobs and Amazon's less than 5% market share "deems anti-trust a non-issue" in his view. He keeps an Outperform rating and $1,600 price target on Amazon shares.
03/06/18
03/06/18
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. UPS (UPS) upgraded to Buy from Hold at Stifel with analyst David Ross saying after the recent share pullback, UPS' valuation is "reasonable" considering the risks ahead and the increased capital investments expected over the next several years. 2. PPL Corp. (PPL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Shelby Tucker saying he believes that the uncertainty around the impact of RIIO-2 price controls on the company's financials has been more than discounted in the stock price, while the equity needs due to tax reform have also been digested by investors. 3. First Republic (FRC) upgraded to Overweight from Equal Weight at Barclays with analyst Matthew Keating saying he believes the impact of First Republic's "millennial strategies" on client household acquisition is underappreciated and that tax reform will not weigh the bank's businesses. 4. Herbalife Nutrition (HLF) upgraded to Buy from Neutral at Citi with analyst Beth Kite saying since January, the company has made capital allocation announcements, enacted several executive changes, and found out that Bill Ackman closed out his long-standing and well-publicized short position. 5. Mylan (MYL) upgraded to Overweight from Equal Weight at Morgan Stanley. 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
STFL
03/06/18
UPGRADE
Target $121
STFL
Buy
Stifel upgrades UPS to Buy with $121 target following share pullback
Stifel analyst David Ross upgraded UPS (UPS) to Buy from Hold while lowering his price target for the shares to $121 from $127. The shipping giant closed yesterday up 44c to $105.81. Following the recent share pullback, UPS' valuation is "reasonable" considering the risks ahead and the increased capital investments expected over the next several years, Ross tells investors in a research note partially titled "Brown Still Printing Plenty of Green." Assuming Amazon (AMZN) remains a "significant and profitable" customer, and the Teamsters do not go on strike, the analyst believes the shares have been oversold. He finds UPS the most attractive dividend play in large cap U.S. transportation and believes the package and general freight markets will "remain strong."
BMY Bristol-Myers
$51.78

0.2 (0.39%)

04/18/18
BMOC
04/18/18
NO CHANGE
Target $47
BMOC
Underperform
Bristol-Myers price target lowered to $47 from $51 at BMO Capital
BMO Capital analyst Alex Arfaei lowered his price target on Bristol-Myers to $47, saying the "significant headwinds" faced by its key growth driver cancer drug Opdivo will not offset the above-consensus view for Eliquis. Arfaei further notes that CM-227 study may not produce superior data in the second half of this year, and the CM-9LA readout is not expected until the second half of 2019. The analyst keeps his Underperform rating on Bristol-Myers.
04/17/18
04/17/18
UPGRADE
Target $68

Overweight
Merck upgraded to Overweight on immuno-oncology leadership at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger upgraded Merck (MRK) to Overweight from Equal Weight after the Keytruda+chemo combination showed better than expected results in lung cancer, boosting the company's immuno-oncology lead against Bristol-Myers (BMY). Driven by higher Keytruda estimates, Risinger increased his 2018-23 EPS CAGR estimate to 8% from 6% and raised his out-year EPS forecasts by 5-8%. The analyst, who also downgraded Bristol-Myers to Equal Weight from Overweight this morning, raised his price target on Merck shares to $68 from $63.
04/17/18
MSCO
04/17/18
DOWNGRADE
Target $58
MSCO
Equal Weight
Bristol-Myers downgraded on lung cancer data disappointment at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger downgraded Bristol-Myers (BMY) to Equal Weight from Overweight after the Opdivo + Yervoy combination showed worse efficacy cross-trial compared to Merck's (MRK) Keytruda+chemo combo. Given the trial results reported yesterday from the companies, Keytruda+chemo appears to be set to become the preferred regimen in first-line non-squamous non-small cell lung cancer, Risinger tells investors. The analyst, who also reduced his long-term pipeline projections for Bristol's novel IO agents, lowered his price target on the stock to $58 from $78.
COP ConocoPhillips
$65.07

-0.24 (-0.37%)

04/19/18
04/19/18
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. Clorox (CLX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Dara Mohsenian saying valuation looks "stretched" on muted earnings growth and lowered his fiscal 2019 earnings estimate by 2% to reflect deterioration in U.S. Household Products sector. 2. Adtran (ADTN) downgraded to Hold from Buy at Argus with analyst Jim Kelleher saying the company has pushed out its expectations for a key client conducting a strategic review of spending, leading to revenue decline for its North America segment to an all-time low. 3. Align Technology (ALGN) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Steve Beuchaw saying his web trends tracking implies growth in the next 1-2 quarters slows to 25% from 35%. 4. ConocoPhillips (COP) downgraded to Hold from Buy at Edward Jones with analyst Jason Gammel citing valuation following the recent rally in the shares. 5. Valvoline (VVV) downgraded to Neutral from Buy at Longbow with analyst Dmitry Silversteyn saying he sees a slower pace of price realization in Quick Lubes combined with a higher cost outlook, limiting earnings upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/07/18
UBSW
03/07/18
INITIATION
Target $60
UBSW
Neutral
ConocoPhillips initiated with a Neutral at UBS
UBS analyst Lloyd Byrne started ConocoPhillips with a Neutral rating and $60 price target.
04/19/18
JEFF
04/19/18
DOWNGRADE
Target $68
JEFF
Hold
ConocoPhillips downgraded to Hold from Buy at Jefferies
Jefferies analyst Jason Gammel downgraded ConocoPhillips (COP) to Hold with a $68 price target citing valuation following the recent rally in the shares. The analyst prefers shares of Chevron (CVX) for U.S. oil exposure.
04/18/18
EDJN
04/18/18
DOWNGRADE
EDJN
Hold
ConocoPhillips downgraded to Hold from Buy at Edward Jones
TWX Time Warner
$96.27

0.25 (0.26%)

03/23/18
WELS
03/23/18
NO CHANGE
Target $40
WELS
Outperform
AT&T price target lowered to $40 from $48 Wells Fargo
Wells Fargo analyst Jennifer Fritzsche lowered her price target for AT&T (T) to $40 from $48 given recent volatility and uncertainty around Time Warner (TWX) path. Nonetheless, the analyst reiterates an Outperform rating on AT&T shares and believes Q1 2018 will represent the second consecutive quarter of positive handset ads for the company.
03/19/18
JEFF
03/19/18
UPGRADE
Target $82
JEFF
Buy
Amdocs upgraded to Buy from Hold at Jefferies
Jefferies analyst Ramsey El-Assal upgraded Amdocs (DOX) to Buy and raised his price target for the shares to $82 from $70. Past mergers suggest that the AT&T (T) spend slowdown related to its acquisition of Time Warner (TWX) is only temporary, El-Assal tells investors in a research note. He believes a recovery is "on the horizon regardless of whether the merger is approved or not." The analyst sees upside to fiscal 2019 estimates for Amdocs.
04/11/18
JEFF
04/11/18
NO CHANGE
JEFF
T-Mobile, Sprint deal has more hurdles than AT&T, Time Warner, says Jefferies
A horizontal merger between T-Mobile (TMUS) and Sprint (S) poses more significant regulatory hurdles than the contested AT&T (T), Time Warner (TWX) deal does, Jefferies analyst Scott Goldman tells investors in a research note after the Wall Street Journal reported the two companies are again in merger talks. The analyst believes potential regulatory remedies could include meaningful spectrum divestitures. With that said, he thinks the combined company would create "meaningful accretion," with free cash flow per share nearly 30% higher in year three. Using multiple analysis, Goldman thinks T-Mobile shares could be worth more than $88 in a deal scenario. The stock closed yesterday up 3.4% to $63.13. Further, the analyst recommends buying the tower stocks on yesterday's selloff given his view of significant regulatory hurdles for a Sprint, T-Mobile deal. He has Buy ratings on American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC).
04/17/18
PIVT
04/17/18
DOWNGRADE
Target $105
PIVT
Hold
Time Warner downgraded to Hold from Buy at Pivotal Research
Pivotal Research analyst Brian Wieser downgraded Time Warner (TWX) to Hold and lowered his price target for the shares to $105 from $108. The stock's value is driven by current trading levels of AT&T (T) under a presumption that the sale of the company goes through, Wieser tells investors in a research note.
RTN Raytheon
$213.25

-5.5 (-2.51%)

01/29/18
BERN
01/29/18
NO CHANGE
Target $255
BERN
Outperform
Raytheon price target raised to $255 from $231 at Bernstein
Bernstein analyst Douglas Harned raised his price target for Raytheon to $255 from $231 based on a strong outlook for 2018 and subsequent years. The analyst reiterates an Outperform rating on the shares.
03/02/18
BERN
03/02/18
NO CHANGE
Target $255
BERN
Outperform
Raytheon remains 'top pick' in defense sector, says Bernstein
Bernstein analyst Douglas Harned continues to view Raytheon (RTN) as his "top pick" in the defense space in light of recent Q4 results and progress on the defense budget, which is "more positive" following an agreement in Congress on budget top lines for FY18 and FY19, and publication of a President's budget request for FY19. In a research note to investors, Harned said that while yesterday's announcement of 25% tariffs on steel and 10% on aluminum is negative, most defense contracts should be protected by long-term agreements. Raytheon's business mix, with 40% of revenues coming from missile defense and tactical missiles, looks "most positive," he said, but noted that other defense names, including General Dynamics (GD), Huntington Ingalls (HII), Lockheed Martin (LMT) and Northrop Grumman (NOC), are all rated Market Perform given high valuations.
03/29/18
03/29/18
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. Boeing (BA), Allegheny Technologies (ATI), Textron (TXT), Spirit AeroSystems (SPR), Northrop Grumman (NOC), Bombardier (BDRBF), Huntington Ingalls (HII), L3 (LLL) and General Dynamics (GD) were initiated with an Overweight at Barclays, while Arconic (ARNC), Harris (HRS), Lockheed Martin (LMT), Triumph Group (TGI), Raytheon (RTN) and Hexcel (HXL) initiated with an Equal Weight and Esterline (ESL) and BWX Technologies (BWXT) were initiated wtih an Underweight. 2. Spotify (SPOT) initiated with an Outperform at RBC Capital. 3. International Paper (IP) initiated with a Buy at UBS. 4. American Homes 4 Rent (AMH) and Invitation Homes (INVH) initiated with an Outperform at Baird. 5. Pilgrim's Pride (PPC) initiated with a Buy at Mizuho. 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
LEHM
03/29/18
INITIATION
Target $239
LEHM
Equal Weight
Raytheon initiated with an Equal Weight at Barclays
Barclays analyst David Strauss started Raytheon (RTN) with an Equal Weight rating and $239 price target. The analyst believes expectations for U.S. Aerospace & Defense are too low and initiated the sector with a Positive rating. Fundamentals look poised to deliver accelerating growth against consensus, the analyst contends. He favors TransDigm Group (TDG) in Aerospace and his top pick overall is L3 Technologies (LLL).
CME CME Group
$161.07

-0.52 (-0.32%)

04/09/18
BERN
04/09/18
INITIATION
BERN
Outperform
CME Group initiated with an Outperform at Bernstein
04/10/18
BERN
04/10/18
INITIATION
Target $190
BERN
Outperform
CME Group initiated with an Outperform at Bernstein
As previously reported, Bernstein analyst Christian Bolu started CME Group with Outperform rating and $190 price target as he likes the counter cyclical growth qualities of its dominant and diverse futures franchise.
02/07/18
GSCO
02/07/18
UPGRADE
Target $180
GSCO
Buy
CME Group upgraded to Buy from Neutral at Goldman Sachs
Goldman analyst Alexander Blostein upgraded CME Group to Buy and raised its price target to $180 from $160. Blostein expects CME's revenue growth to accelerate in 2018/19 amid significant growth in open interest and the increasing likelihood of normalization of volatility. The analyst contends expects the prospects of rising inflation expectations and normalization of volatility to drive product velocity higher over the next two years, adding to already to the healthy build-up in open interest.
02/13/18
UBSW
02/13/18
NO CHANGE
Target $120
UBSW
Buy
Cboe Global Markets price target lowered to $120 from $136 at UBS
UBS analyst Alex Kramm lowered his price target on Cboe Global Markets (CBOE) to $120 from $136 as he sees limited room for multiple expansion and headline risk including regulatory concerns. The shares have sold off on investors concerns related to its VIX franchise and negative estimate revisions related to higher expenses and tax guidance. The analyst prefers CME (CME) as a play on higher volatility. However, Kramm maintained his buy rating on Cboe shares.
GM General Motors
$38.10

0.18 (0.47%)

04/09/18
04/09/18
UPGRADE
Target $48

Overweight
GM upgraded to Overweight on infrastructure bill potential at Morgan Stanley
As previously reported, Morgan Stanley analyst Adam Jonas upgraded General Motors (GM) to Overweight from Equal Weight, as he sees room for positive earnings revisions for GM, Ford (F) and Fiat Chrysler (FCAU) as investors better understand the impact on U.S. pick-up truck sales from a potential passage of a U.S. infrastructure bill. The firm's economics team estimates a bull case of as much as $2.4T in U.S. infrastructure spending over a 10-year period, which primarily would affect automakers through the sale of highly-profitable pickup trucks, said Jonas, who noted that greater infrastructure spending typically does coincide with increased pickup sales. Jonas raised his price target on GM shares to $48 from $45 and increased his price target on Fiat Chrysler to EUR23 from EUR22 per share.
04/24/18
MSCO
04/24/18
NO CHANGE
Target $48
MSCO
Overweight
Morgan Stanley raises value estimate for GM's Cadillac brand to $15B
Morgan Stanley analyst Adam Jonas modeled Cadillac financials out to 2028, assuming a 2017-2028 unit volume CAGR of about 4% for the General Motors brand. He notes this is modestly higher than his previous forecast of closer to 3%, citing expectations for a model strategy closely aligned with transportation-as-a-service trends in China and the U.S., Jonas tells investors. He raised his valuation of Cadillac to $15B from $13B and said he sees scope for new GM management to highlight its "hidden value" through improved financial disclosure and structural changes. Jonas maintains an Overweight rating on GM shares.
04/09/18
04/09/18
NO CHANGE
Target $21

Overweight
Morgan Stanley, bullish on trucks, names American Axle top pick in U.S. Autos
After Morgan Stanley published a report on the potential beneficiaries from infrastructure spending, analyst Armintas Sinkevicius called American Axle (AXL) the supplier with the greatest direct exposure to pick-up trucks and believes it should receive an outsized benefit from any infrastructure spending increase. He named American Axle his top pick in the U.S. Autos & Shared Mobility sector, stating that after the first quarter he expects volumes to improve at General Motors (GM), launch costs to fade and for synergies to provide margin expansion and free cash flow generation. As previously reported, Morgan Stanley analyst Adam Jonas upgraded General Motors to Overweight from Equal Weight this morning, also citing the potential benefits of increased U.S. infrastructure spending.
04/09/18
04/09/18
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. General Motors (GM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Adam Jonas saying he sees room for positive earnings revisions for GM, Ford (F) and Fiat Chrysler (FCAU) as investors better understand the impact on U.S. pick-up truck sales from a potential passage of a U.S. infrastructure bill. 2. TD Ameritrade (AMTD) upgraded to Buy from Neutral at BofA/Merrill with analyst Michael Carrier saying he views TD Ameritrade's near-term outlook as attractive given healthy new net asset growth, higher interest rates, and strong DARTs. 3. Comerica (CMA) upgraded to Outperform from Neutral at Wedbush with analyst Peter Winter saying he sees several levers that should drive above average earnings per share growth over the next two years, including margin expansion, potential resumption of loan growth, and above average capital returns. 4. Agilent (A) upgraded to Buy from Neutral at Goldman Sachs with analyst Patrick Donnelly saying he sees an attractive fundamental backdrop across Tools. 5. Discover (DFS) and Ally Financial (ALLY) were upgraded to Equal Weight from Underweight at Stephens. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ITW Illinois Tool Works
$151.68

2.1 (1.40%)

04/10/18
GSCO
04/10/18
UPGRADE
GSCO
Conviction Buy
Illinois Tool Works upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Joe Ritchie added Illinois Tool Works to the Conviction Buy List with a $177 price target saying the pullback in shares due to auto concerns provides an attractive entry point. Ritchie's 2018/2019 estimates are 3%/4% above consensus, which is why he see's a lot of "cushion" in 2018 guidance.
04/09/18
SBSH
04/09/18
NO CHANGE
SBSH
Citi recommends Multi-Industry stocks following year-to-date weakness
Citi analyst Andrew Kaplowitz tells investors to take advantage of the year-to-date weakness in Multi-Industry stocks ahead of the Q1 earnings season. U.S. tax reform, a still strong developing market environment and a slowly improving project-based environment should be catalysts for growth, Kaplowitz writes in a research note. The analyst prefers shares of Honeywell (HON), Gardner Denver (GDI), Ingersoll-Rand (IR), Johnson Controls (JCI), 3M (MMM) and Illinois Tool Works (ITW).
01/25/18
WELS
01/25/18
NO CHANGE
Target $200
WELS
Outperform
Illinois Tool Works price target raised to $200 from $190 at Wells Fargo
Wells Fargo analyst Andrew Casey raised his price target for Illinois Tool Works to $200 from $190 saying its underlying investment case, namely strong total shareholder returns driven by accelerating organic revenue growth, continued margin improvement, and cash distribution to shareholders, has been augmented by the recent U.S. Tax Cut and Jobs Act. The analyst reiterates an Outperform rating on the shares.
04/10/18
04/10/18
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. Ulta Beauty (ULTA) upgraded to Overweight from Neutral at Piper Jaffray with analyst Erinn Murphy citing Piper's 35th semi-annual teens survey in which Ulta Beauty overtook Sephora as the top brand for average-income teens. 2. Nvidia (NVDA) and Seagate (STX) were upgraded to Overweight from Equal Weight at Morgan Stanley. 3. Live Nation (LYV) upgraded to Buy from Neutral at Citi with analyst Jason Bazinet saying the stock has sold off after the New York Times reported that the Department of Justice is investigating the company for antitrust violations. 4. Becton Dickinson (BDX) upgraded to Buy from Neutral at Citi with analyst Amit Hazan saying he sees a "strong setup" for upside to estimates in fiscal 2018, largely driven by the Becton Dickinson side of the business. 5. Illinois Tool Works (ITW) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Joe Ritchie saying the pullback in shares due to auto concerns 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.
SPGI S&P Global
$189.68

0.62 (0.33%)

02/14/18
ARGS
02/14/18
NO CHANGE
Target $210
ARGS
Buy
S&P Global price target raised to $210 from $178 at Argus
Argus analyst John Eade raised his price target on S&P Global to $210 and kept his Buy rating following its recent Q4 earnings beat. Eade notes that the company is faced with risks related to the timing and magnitude of interest rate tightening at the Fed and also the risks of rising defaults in the corporate bond market, but believes the management team - which consistently "underpromises and overdelivers" with financial results - can navigate those challenges.
01/11/18
NOMU
01/11/18
INITIATION
Target $160
NOMU
Neutral
S&P Global initiated with a Neutral at Nomura Instinet
Nomura Instinet analyst Dan Dolev started S&P Global with a Neutral rating and $160 price target. The analyst believes "recent sharp cuts" in supervisors could weigh on the company's product quality and future margin growth.
02/07/18
FBCO
02/07/18
NO CHANGE
Target $222
FBCO
Outperform
S&P Global price target raised to $222 from $183 at Credit Suisse
Credit Suisse analyst Anjaneya Singh raised his price target for S&P Global to $222 from $183 after the company reported another "strong" quarter, with the Ratings business again driving upside to his expectations, on "very strong" transaction revenue. The analyst reiterates an Outperform rating on the shares.
02/07/18
SUSQ
02/07/18
DOWNGRADE
SUSQ
Neutral
S&P Global downgraded to Neutral from Positive at Susquehanna
VLO Valero
$108.68

0.37 (0.34%)

04/11/18
04/11/18
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. Avis Budget (CAR) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing valuation. 2. Affiliated Managers (AMG) downgraded to Market Perform at Keefe Bruyette. 3. Valero (VLO) and PBF Energy (PBF) were downgraded to Sector Perform from Outperform at Scotia Howard Weil. 4. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Melissa Franchi saying she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud. 5. Mitel (MITL) downgraded to Sector Perform from Outperform at National Bank with the firm 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.
03/14/18
COWN
03/14/18
NO CHANGE
COWN
Tailwinds outstrip headwinds in refining outlook, says Cowen
Cowen analyst Sam Margolin said he has a constructive refining outlook despite the current headwinds that include increased China capacity and a Brent/WTI compression. The analyst said the second half of the year should see those headwinds pass and said outside of global demand growth, MARPOL shipping industry regulations are requiring low sulfur marine fuel worldwide, and U.S. Tier-3 gasoline requirements could result in lower octane supply as a consequence of the de-sulferization processes. Margolin favors Valero (VLO), Phillips 66 (PSX), Delek (DK), Marathon (MPC), and Andeavor (ANDV) in the refining space.
02/14/18
SBSH
02/14/18
UPGRADE
Target $114
SBSH
Buy
Valero upgraded to Buy from Neutral at Citi
Citi analyst Prashant Rao upgraded Valero energy to Buy after taking over coverage of the name. The analyst calls Valero his preferred large cap value stock among the North American Refiners. The company is the largest pure-play on favorable U.S. refining fundamentals, Rao tells investors in a research note on the sector. The analyst raised his price target for the shares to $114 from $96.
04/11/18
HOWW
04/11/18
DOWNGRADE
HOWW
Sector Perform
Valero downgraded to Sector Perform from Outperform at Scotia Howard Weil
PX Praxair
$149.84

3.05 (2.08%)

03/27/18
BMOC
03/27/18
INITIATION
Target $159
BMOC
Market Perform
Praxair initiated with a Market Perform at BMO Capital
BMO Capital analyst John McNulty started Praxair with a Market Perform rating and $159 price target.
01/26/18
RHCO
01/26/18
NO CHANGE
Target $185
RHCO
Buy
Praxair price target raised to $185 from $165 at SunTrust
SunTrust analyst James Sheehan raised his price target on Praxair to $185 after Q4 earnings, citing accelerating volume growth in every end market and region as well as expectations of regulatory approval for Linde merger. Sheehan keeps his Buy rating on Praxair.
01/29/18
JPMS
01/29/18
DOWNGRADE
Target $170
JPMS
Neutral
Air Products downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded Air Products and Chemicals (APD) to Neutral while raising his price target for the shares to $170 from $168. At current valuation levels, the analyst prefers shares of Praxair (PX) in the industrial gas sector.
03/19/18
SBSH
03/19/18
NO CHANGE
SBSH
Buy
Praxair shares could fall 10%-15% initially if deal fails, says Citi
Citi analyst P.J. Juvekar believes Praxair (PX) shares could initially fall 10%-15% if the merger with Linde were to fail due to regulatory restrictions. The analyst, however, thinks shares should eventually trade based on its standalone merits, which he remains positive on. He recommends playing the deal through Praxair over Linde. Juvekar keeps a Buy rating on the shares.
LUV Southwest
$53.85

-0.03 (-0.06%)

03/22/18
IMPC
03/22/18
NO CHANGE
Target $75
IMPC
Outperform
Southwest likely to have strong growth through FY19, says Imperial Capital
Imperial Capital analyst Michael Derchin lowered his Q1 earnings per share estimate for Southwest Airlines to 74c from 83c following yesterday's guidance update. The analyst, however, maintains his fiscal 2018 estimate of $5.00 and fiscal 2019 estimate of $6.50. As the industry's pricing leader, Southwest is likely to have strong earnings growth through fiscal 2019 despite a competitive environment, Derchin tells investors in a research note. The analyst keeps an Outperform rating on the shares with a $75 price target. Southwest closed yesterday down 5%, or $2.91, to $57.78.
03/22/18
UBSW
03/22/18
NO CHANGE
Target $70
UBSW
Buy
Southwest price target lowered to $70 from $75 at UBS
After meeting with management, UBS analyst Darryl Genovesi attributes Southwest Airlines' Q1 RASM miss to a bigger hit from back-of-the-clock flying as it seeks to maintain share, along with a misread of Spring Break demand. The company noted that prospective fleet growth, along with changes to its scheduling system/processes, will help it to avoid such supply-demand mismatches in the future, Genovesi tells investors in a research note. He lowered his price target for the Southwest shares to $70 from $75 and keeps a Buy rating on the name.
03/22/18
BUCK
03/22/18
UPGRADE
Target $70
BUCK
Buy
Southwest upgraded to Buy on valuation at Buckingham
Buckingham analyst Daniel McKenzie upgraded Southwest (LUV) to Buy from Neutral saying shares are oversold and maintained a $70 price target. The analyst said Southwest's Q1 revenue was disappointing and Q2 Street estimates have come down, but he sees very little risk to full year consensus estimates given network adjustments, a new revenue management system, and a solid seasonal backdrop heading into summer. McKenzie said shares look attractive following yesterday's selloff, combined with superior profitability and more compelling capital returns.
03/22/18
03/22/18
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. American Axle (AXL) and BorgWarner (BWA) were double-upgraded to Overweight from Underweight at Morgan Stanley. 2. GlaxoSmithKline (GSK) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Vincent Meunier saying the company's capital allocation strategy and operational repositioning show "clear signs of improvement." 3. General Mills (GIS) upgraded to Hold from Sell at Societe Generale with analyst Warren Ackerman citing valuation for the upgrade following yesterday's post-earnings selloff. 4. Pandora (P) upgraded to Strong Buy from Market Perform at Raymond James with analyst Justin Patterson saying AdsWizz will expand TAM by 2x to $28B, accelerate tech initiatives, materially expand reach, and could be worth approximately $4 per share. 5. Southwest (LUV) upgraded to Buy on valuation at Buckingham with analyst Daniel McKenzie saying shares are oversold and maintained a $70 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
HLT Hilton
$81.85

-0.19 (-0.23%)

04/20/18
DBAB
04/20/18
NO CHANGE
Target $94
DBAB
Buy
Deutsche remains bullish on Hilton, ups price target to $94
Deutsche Bank analyst Carlo Santarelli raised his price target for Hilton Worldwide to $94 and $92 saying he remains bullish on the shares. The exit of shareholder HNA and the "strong" Q1 results as both positives, Santarelli tells investors in a research note. He believes his improving forward checks around business transient demand bodes well for 2018 RevPAR reacceleration. Hilton remains Santarelli's preferred way to play lodging. He keeps a Buy rating on the shares.
04/13/18
BARD
04/13/18
NO CHANGE
Target $90
BARD
Outperform
Hilton stock buyback from HNA removes overhang, says Baird
Baird analyst Michael Bellisario maintains his positive view on Hilton following its secondary offering and share repurchases. He said he is encouraged by the company's stronger than expected Q1 preliminary results and the completion of its share repurchase from HNA, which he believes removes a significant overhang. Bellisario reiterated his Outperform rating and $90 price target on Hilton shares.
02/15/18
WELS
02/15/18
NO CHANGE
Target $88
WELS
Market Perform
Hilton price target raised to $88 from $78 at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly raised his price target for Hilton to $88 from $78 following quarterly results. The analyst reiterates a Market Perform rating on the shares.
04/06/18
BERN
04/06/18
NO CHANGE
Target $93
BERN
Outperform
Sale of HNA's Hilton stake likely a 'positive' catalyst, says Bernstein
Bernstein analyst David Beckel said that Hilton's (HLT) 13D on Thursday disclosing that HNA Group is planning to sell some or all of its take in the hotel operator is "news," but adds that "we all knew this day was coming," as HNA has amassed "mountains" of debt and "now finds itself barely capable of making good on its interest and principal payments," selling stakes in the other Hilton SpinCos, Hilton Grand Vacations (HGV) and Park Hotels and Resorts (PK). Beckel believes a sale of HNA's stake in Hilton will be a positive catalyst and recommends buying on any weakness.
RCL Royal Caribbean
$118.49

1.2 (1.02%)

04/25/18
SUSQ
04/25/18
NO CHANGE
Target $155
SUSQ
Positive
Royal Caribbean fundamentals better than they appear, says Susquehanna
Susquehanna analyst Rachael Rothman said Royal Caribbean fundamentals are better than the share price suggests. She raised her estimates despite fears of overcapacity and higher fuel prices. She expects the company to beat consensus for Q1 and to strike a bullish tone on the balance of the year. Rothman reiterated her Positive rating, though she trimmed her price target to $155 from $156 on Royal Caribbean shares.
04/18/18
DBAB
04/18/18
UPGRADE
Target $66
DBAB
Buy
Norwegian Cruise Line upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Chris Woronka upgraded Norwegian Cruise Line (NCLH) to Buy with an unchanged price target of $66. The analyst sees "several ways" for the shares to work, including closing the relative valuation gap versus Royal Caribbean (RCL), the likely initiation of a dividend and the anticipated appointment of a new CFO that is well-regarded by the investment community. The analyst also believes the company's investor day on May 4 could serve as a near-term catalyst. He views Norwegian Cruise's current valuation as attractive.
04/13/18
WEDB
04/13/18
NO CHANGE
Target $145
WEDB
Outperform
Caribbean cruise capacity concerns real, but overstated, says Wedbush
Wedbush analyst James Hardiman told investors in a research note that while he believes the risk surrounding capacity concerns and the general health of the Caribbean market is real, it is unlikely to threaten cruise companies' abilities to achieve previously communicated guidance. While March pricing for Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH) was flat to down, Hardiman noted that it did show sequential improvement on both a year-over-year and two-year average basis, adding that Carnival (CCL) saw positive pricing growth, though the growth has decelerated sequentially. Hardiman continues to rate Royal Caribbean and Norwegian Outperform and Carnival Neutral, with price targets of $145, $65, and $71, respectively, and says Norwegian remains on the firm's Best Ideas List, as it has the least amount of exposure to the Caribbean market and major exposure to the "hot" European market.
04/19/18
STFL
04/19/18
NO CHANGE
STFL
Buy
Stifel constructive on cruislines ahead of earnings
In separate notes to investors on Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH), Stifel analyst Steven Wieczynski said he remains constructive on the stocks ahead of the companies' earnings reports. Wieczynski, who calls himself an "absolute buyer" of Royal Caribbean shares, sees the cruiseline operator reporting a yield-driven EPS beat in Q1, along with better than expected guidance and commentary on the Caribbean. He also expects Norwegian to deliver a yield-driven EPS beat, but does not expect management to raise its full-year guidance. The analyst keeps a Buy ratings on both, with a $70 price target on Norwegian shares and a $152 target on Royal Caribbean.
ALXN Alexion
$106.07

-0.37 (-0.35%)

04/20/18
EVER
04/20/18
NO CHANGE
EVER
Outperform
Alexion weakness on Brazil patent news a buying opportunity, says Evercore ISI
Evercore ISI analyst Josh Schimmer believes today's weakness in Alexion after Brazil "shot down" the company's Soliris patent more than adequately reflects the news, which he adds was not totally unexpected. In May 2017, the company noted Brazil represented about 5% of Soliris revenue, Alexion continues to diversify away from the drug, and a biosimilar would still have to be developed and approved, Schimmer tells investors. The analyst, who would be a buyer amid the weakness, keeps an Outperform rating on Alexion.
04/20/18
PIPR
04/20/18
NO CHANGE
PIPR
Overweight
Alexion shares overreacting to Brazil news on Soliris patent, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond called news that the Brazilian Attorney General's Office won a court decision that paves the way for a biosimilar version of Soliris "admittedly a negative headline," but he believes the shares are overreacting. Many practical obstacles still exist to a generic launch, "not least of which being the fact that no biosimilar agent is even close to market," Raymond told investors. The analyst, who estimates that 5% of FY18 revenue would be Brazilian sales of Soliris, does not think those sales are "going away anytime soon." He keeps an Overweight rating on Alexion shares.
04/23/18
RAJA
04/23/18
NO CHANGE
RAJA
Outperform
Brazil throws 'curve ball' at Alexion's Soliris, says Raymond James
Raymond James analyst Laura Chico notes that the Brazilian Supreme Court of Justice has broken Alexion's Soliris method of use patent covering the treatment of paroxysmal nocturnal hemoglobinuria. The analyst estimates Brazilian revenue comprises about 5% of the company's total revenue. Given the concerns this move will trigger on orphan drug pricing flexibility, Chico thinks it is important to consider that there is no known imminent biosimilar Soliris launches in Brazil. Her estimates remain unchanged as she awaits further clarity. The analyst reiterates an Outperform rating on the shares.
04/23/18
MSCO
04/23/18
NO CHANGE
MSCO
Overweight
Alexion news from Brazil not as bad as headlines suggest, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that Alexion shares dropped on Friday following news that Brazil's Attorney General revoked Alexion's Soliris patent in Brazil. The company subsequently issued a statement noting that the Brazil court decision related to a "mailbox" patent that expired in 2015, and Harrison pointed out that his is not a Soliris specific issue and relates to a long-time legal battle by many companies on how to interpret Brazilian law related to mailbox patents. The analyst, who noted that Alexion shares came off their lows prior to Friday's close, expects the stock to further recover on Monday as the details of this patent fight are more fully understood. Harrison maintains an Overweight rating on Alexion.
IP International Paper
$53.44

0.68 (1.29%)

04/17/18
RBCM
04/17/18
DOWNGRADE
Target $57
RBCM
Sector Perform
International Paper cut to Sector Perform at RBC Capital
As reported earlier, RBC Capital analyst Paul Quinn downgraded International Paper (IP) to Sector Perform from Outperform and lowered his price target to $57 from $70. The analyst say that the company has "considerable tailwinds" in its core North America containerboard business as well as strong conditions in the pulp and paper business, but sees the potential acquisition of Smurfit Kappa (SMFTF) clouding the picture while producing a "considerable valuation overhang". Quinn believes that International Paper's synergy expectations are overly ambitions and the price it is willing to pay is too high.
04/17/18
RBCM
04/17/18
DOWNGRADE
RBCM
Sector Perform
International Paper downgraded to Sector Perform from Outperform at RBC Capital
MGM MGM Resorts
$35.32

-0.2 (-0.56%)

04/23/18
SUSQ
04/23/18
UPGRADE
SUSQ
Positive
MGM Resorts upgraded to Positive from Neutral at Susquehanna
03/08/18
STFL
03/08/18
NO CHANGE
STFL
Stifel returns from Macau trip with 'much more positive' view for 2018
Stifel analyst Steven Wieczynski said that after meeting with property managements and industry contacts in Macau recently he came back with a "much more positive/constructive view for 2018" than he was previously forecasting. It was clear that operators were "thrilled" with how the Chinese New Year holiday played out and demand post-CNY had continued to be strong, especially on the VIP side, Wieczynski tells investors. He maintains his Buy rating on Las Vegas Sands (LVS) and Hold ratings on MGM Resorts (MGM) and Wynn Resorts (WYNN). Melco Resorts (MLCO) is another publicly traded company in the Macau gaming space.
03/15/18
MSCO
03/15/18
NO CHANGE
MSCO
Las Vegas Sands, Wynn Resorts targets raised at Morgan Stanley after Macau trip
After visiting Macau last week, Morgan Stanley analyst Thomas Allen raised his 2018/2019 EBITDA forecast for Las Vegas Sands by 1%, citing strong visitation growth over Chinese New Year, less MGM (MGM) Cotai cannibalization, and less renovation disruption at Cotai Central, all of which make him lower his projection for Las Vegas' market share decline to only 0.4% in loss versus his prior view of a 1% share loss. While it appears the new MGM Cotai has attracted a lot of visitors since opening, Allen believes a mixture of service issues and low hold will impact near-term results. For Wynn Resorts (WYNN), Allen raised his 2018/2019 EBITDA view by 4%/2% to reflect stronger results in both Macau and Vegas. Allen increased his price target on Las Vegas Sands shares to $82 from $81, upped his Wynn target to $194 from $193 and keeps a $40 price target on MGM Resorts.
04/03/18
BOFA
04/03/18
NO CHANGE
BOFA
BofA/Merrill's Top 10 US Ideas for Q2 2018
BofA/Merrill introduced its Top 10 Ideas for Q2 2018. They are Buy rated Abbott (ABT), ADP (ADP),Coca-Cola European Partners (CCE), Discovery (DISCA), Dover (DOV), Lowe's (LOW), MGM Resorts (MGM), and Qualcomm (QCOM), and Underperform rated Ralph Lauren (RL) and BlackBerry (BB).
HSY Hershey
$93.51

0.7 (0.75%)

04/12/18
04/12/18
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. Mallinckrodt (MNK) initiated with a Hold at SunTrust. 2. Hershey (HSY) initiated with a Neutral at Piper Jaffray. 3. Autoliv (ALV) initiated with a Hold at Cross Research. 4. Leap Therapeutics (LPTX) initiated with a Buy at H.C. Wainwright. 5. Monolithic Power (MPWR) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/18
PIPR
04/12/18
INITIATION
Target $99
PIPR
Neutral
Hershey initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery started Hershey with a Neutral rating and $99 price target. The analyst sees higher cocoa costs weighing on the company's margin outlook in the second half of 2018 and 2019. He also believes Hershey's Tyrrells business could still be losing money.
04/10/18
04/10/18
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. Monsanto (MON) downgraded to Market Perform from Outperform at BMO Capital with analyst Joel Jackson citing the rising likelihood of the acquisition by Bayer (BAYRY) after yesterday's reports of approval of the merger by the U.S. Department of Justice. 2. Hershey (HSY) downgraded to Sell from Neutral at UBS with analyst Steven Strycula saying Hershey's portfolio is over-exposed to slowing category consumption, intensifying competition, and rising cocoa prices. 3. Cullen/Frost (CFR) downgraded to Underperform from Market Perform at Raymond James. 4. vTv Therapeutics (VTVT) downgraded to Hold from Buy at Stifel, to Neutral from Buy at Seaport Global, Piper Jaffray, and Roth Capital, as well as to Market Perform from Outperform at Northland. 5. Radian Group (RDN) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Dwelle citing the latest reduction in borrower-paid premium rates at MGIC Investment (MTG) and saying he believes sentiment in the space will be negatively impacted. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/18
FBCO
04/16/18
NO CHANGE
Target $94
FBCO
Neutral
Hershey price target lowered to $94 from $115 at Credit Suisse
Credit Suisse analyst Robert Moskow lowered his price target for Hershey to $94 from $115 on valuation. The analyst reiterates a Neutral rating on the shares.
DHI D.R. Horton
$44.94

1.195 (2.73%)

03/07/18
03/07/18
UPGRADE
Target $50

Outperform
D.R. Horton upgraded to Outperform at Wedbush
As previously reported, Wedbush analyst Jay McCanless upgraded D.R. Horton to Outperform from Neutral, with a $50 price target, as he believes the recent pullback appears overdone.
03/07/18
03/07/18
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. Domino's Pizza (DPZ) upgraded to Buy from Hold at Argus with analyst John Staszak saying he believes that the company's stock price does not adequately reflect its prospects for earnings growth and rising market share based on the management's objective of 6%-8% annual store count growth. 2. Donaldson (DCI) upgraded to Buy on valuation at Gabelli with analyst Brian Sponheimer citing valuation following the quarterly report. 3. Quest Diagnostics (DGX) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg saying he has a positive view of the company's cash generation, cost controls, and share repurchases, while also pointing to its first dividend increase since the first quarter of 2016, last month. 4. D.R. Horton (DHI) upgraded to Outperform from Neutral at Wedbush with analyst Jay McCanless saying he believes the recent pullback appears overdone. 5. Ooma (OOMA) upgraded to Neutral from Underperform at BofA/Merrill with analyst Nikolay Beliov saying the home Telo business is showing signs of acceleration, the Office business continues to growth, and Voxter adds capabilities to target larger companies, which will improve mix. 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
LEHM
03/26/18
UPGRADE
Target $52
LEHM
Overweight
D.R. Horton upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Matthew Bouley upgraded D.R. Horton to Overweight with a $52 price target. The analyst sees the company as well positioned to absorb volume demand while maintaining gross margins. He expects new construction volumes to remain relatively unaffected as interest rates rise and thinks the recent weakness in the shares provides upside potential.
03/26/18
03/26/18
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. Intel (INTC) and Analog Devices (ADI) upgraded to Outperform from Market Perform at Raymond James. 2. D.R. Horton (DHI) upgraded to Overweight from Equal Weight at Barclays with analyst Matthew Bouley saying he sees the company as well positioned to absorb volume demand while maintaining gross margins. 3. RBS (RBS) upgraded to Buy from Hold at Deutsche Bank with the firm saying the recent underperformance of shares has brought an attractive entry point. 4. MetLife (MET) upgraded to Overweight from Neutral at Atlantic Equities. 5. Dollar Tree (DLTR) upgraded to Overweight from Neutral at Piper Jaffray with analyst Peter Keith saying he believes the company is making "sensible investments" with Family Dollar to drive comp growth improvement into 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NLSN Nielsen
$34.34

0.835 (2.49%)

01/08/18
BARD
01/08/18
UPGRADE
Target $41
BARD
Outperform
Nielsen upgraded to Outperform at Baird
As previously reported, Baird analyst Jeffrey Meuler upgraded Nielsen to Outperform from Neutral citing its depressed valuation and expectations for improved investors sentiment over time. The analyst sees signs of stabilization in its Buy-Developed Markets, sustained solid growth in Watch, and increased investor confidence in margin expansion. Meuler reiterated his $41 price target on Nielsen shares.
04/16/18
BMOC
04/16/18
UPGRADE
Target $38
BMOC
Outperform
Nielsen upgraded to Outperform at BMO Capital on Watch opportunity and valuation
As reported earlier, BMO Capital analyst Daniel Salmon upgraded Nielsen to Outperform from Market Perform and kept his $38 price target. Salmon says the heightened regulation on open internet platforms is a positive for a company involved with measurement and verification of data, which could increase demand for its products. The analyst also cites "excellent" innovation around the Watch side of its business discrediting investor view of its offerings becoming obsolete in a more digital world. Salmon further notes an attractive valuation for Nielsen as its stock trades at the trough multiple since its IPO.
04/16/18
04/16/18
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. Costco (COST) upgraded to Outperform from Market Perform at Wells Fargo with analyst Edward Kelly saying he expects Costco to "sustain strong comp momentum" despite difficult comparisons, deliver improved membership trends, navigate rising retail cost pressures, and beat consensus expectations. 2. Boston Beer (SAM) upgraded to Neutral from Sell at Goldman Sachs. 3. Ulta Beauty (ULTA) upgraded to Buy from Neutral at Guggenheim with analyst Steven Forbes saying he believes Ulta's industry-leading position and secular growth potential is undervalued with shares trading at 10x 2019 EBITDA. 4. Nielsen (NLSN) upgraded to Outperform from Market Perform at BMO Capital with analyst Daniel Salmon saying the heightened regulation on open internet platforms is a positive for a company involved with measurement and verification of data, which could increase demand for its products. 5. C.H. Robinson (CHRW) upgraded to Buy from Neutral at UBS with analyst Thomas Wadewitz saying trends in the first quarter are very favorable, which points to strong Q1 results for the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/18
BMOC
04/16/18
UPGRADE
BMOC
Outperform
Nielsen upgraded to Outperform from Market Perform at BMO Capital
DPZ Domino's Pizza
$233.00

0.925 (0.40%)

04/04/18
DBAB
04/04/18
DOWNGRADE
Target $235
DBAB
Hold
Domino's Pizza downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brett Levy downgraded Domino's Pizza to Hold with an unchanged price target of $235. The analyst cites valuation for the downgrade, with the stock up 26% since his December 2017 initiation. He sees an unfavorable risk-reward profile as he believes Street expectations are already building in improved same-store-sales momentum. Further, Levy sees potential for the macro landscape becoming a "little more competitive or potentially irrational."
04/04/18
04/04/18
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. PTC Therapeutics (PTCT) downgraded to Underweight from Equal Weight at Barclays with analyst Gena Wang saying she sees limited upside to 2018 revenue expectations and believes PTC's growth trajectory is fully priced in at current valuation levels. 2. Cloudera (CLDR) downgraded to Neutral from Overweight at JPMorgan and to Hold from Buy at Deutsche Bank. 3. Domino's Pizza (DPZ) downgraded to Hold from Buy at Deutsche Bank with analyst Brett Levy citing valuation. 4. Virtusa (VRTU) downgraded to Hold from Buy at SunTrust with analyst Frank Atkins saying while Virtusa stock has risen 166% since November of 2016, future upside may be more limited. 5. ResMed (RMD) downgraded to Neutral from Buy at Citi with analyst Victor Windeyer citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, Reference Link
04/10/18
MAXM
04/10/18
NO CHANGE
Target $255
MAXM
Buy
Domino's Pizza price target raised to $255 from $250 at Maxim
Maxim analyst Stephen Anderson raised his price target on Domino's Pizza to $255, citing the company's announcement of debt refinancing which he sees as a "modest positive" longer term despite the short-term uncertainty around the interest rate. Anderson keeps his Buy rating on Domino's Pizza, adding that reduced commodity costs may also serve as a near-term catalyst for the stock.
04/17/18
OPCO
04/17/18
NO CHANGE
Target $245
OPCO
Outperform
Domino's Pizza price target raised to $245 from $240 at Oppenheimer
Oppenheimer analyst Brian Bittner raised his price target for Domino's Pizza to $245 from $240 ahead of earnings as he believes it has unique tools to gain share and sustain best-in-class same-store sales, unit expansion and operating profit growth. The analyst reiterates an Outperform rating on the shares.
TSCO Tractor Supply
$62.21

1 (1.63%)

04/23/18
WELS
04/23/18
INITIATION
Target $70
WELS
Outperform
Tractor Supply initiated with an Outperform at Wells Fargo
Wells Fargo analyst Zachary Fadem initiated Tractor Supply with an Outperform and $70 price target.
04/23/18
WELS
04/23/18
INITIATION
Target $205
WELS
Outperform
Home improvement and autopart retail offers favorable pockets, says Wells Fargo
As reported earlier, Wells Fargo analyst Zachary Fadem initiated select names within the home improvement, auto part retail, home furnishings, and specialty hardlines. The analyst notes that the pullback in some of these stocks related to "uncertainty around margins, global trade policy, and the sustainability of recently improving results", which replaced the enthusiasm from the anticipated consumer strength, rising wages, and tax reform benefits earlier this year, has produced some "compelling" long-term investment opportunities. Fadem initiated Home Depot (HD) and Lowe's (LOW) at Outperform with respective price targets of $205 and $100, saying home improvement is particularly attractive in retail today given the valuations in housing and demographics tailwinds. The analyst adds that the home improvement category has seen the most consistent growth in "consumer share of wallet" to 7.5% over the past 5 years, even though that level is still below 8.7% prior peak in 2005. Fadem's view on Bed Bath and Beyond (BBBY) is less upbeat with an Underperform rating and a $16 price target based on its limited growth opportunity, margin profile, differentiation, and e-commerce strategy. Similarly, the analyst profiles the auto parts retail offering some opportunity in terms of "lost share of wallet" sliding to 1.8%, below the 10-year average of 1.9%, while offering "attractive valuations" and an opportunity to regain its footing. Fadem initiates O'Reilly (ORLY) and AutoZone (AZO) with an Outperform rating and price targets of $260 and $700 respectively, adding that these two companies exceeded the industry growth even as auto parts retailers as a group trade at a 23% discount relative to the S&P500. The analyst also initiated select names in the Home Furnishings/Specialty categories, including At Home (HOME) at Outperform with a price target of $42, Tractor Supply (TSCO) at Outperform with a price target of $70, and National Vision (EYE) with an Outperform and a price target of $40. Fadem. All of these names earned a positive view based on the analysts Growth Opportunity and Concept Differentiation screens, with the last two also cited for their potential for near term improvement.
04/24/18
RBCM
04/24/18
NO CHANGE
Target $64
RBCM
Sector Perform
Tractor Supply price target lowered to $64 from $71 at RBC Capital
RBC Capital analyst Scot Ciccarelli lowered his price target on Tractor Supply (TSCO) to $64 and kept his Sector Perform rating ahead of Q1 earnings. The analyst notes the wet and cold conditions making an impact on the quarter in the short run, adding that the longer term sales and margins will likely be impacted by the increasing competitive threat from Amazon (AMZN) Prime.
04/23/18
BARD
04/23/18
NO CHANGE
Target $80
BARD
Outperform
Tractor Supply has seasonal risk to Q1 results, says Baird
Baird analyst Peter Benedict trimmed his estimates on Tractor Supply ahead of the company's Q1 report, as he sees seasonal risk to Q1 results. The analyst said the weather has already tempered expectations, putting the stock at an attractive discount to valuation. Benedict reiterated his Outperform rating and lowered his price target to $80 from $85 on Tractor Supply shares.
DNKN Dunkin' Brands
$62.13

0.92 (1.50%)

02/15/18
SPHN
02/15/18
NO CHANGE
Target $66
SPHN
Equal Weight
Aggressiveness of Dunkin' buybacks a positive, says Stephens
Stephens analyst Will Slabaugh said he does not expect investors to be surprised by Dunkin' Brands plans for $650M in accelerated share repurchases, though he views the "aggressiveness" of the ASRs as a positive. While he is encouraged with the company's priority to return excess capital to shareholders, Slabaugh keeps an Equal Weight rating on Dunkin' shares, citing topline softness and modestly slowing unit growth.
04/23/18
OTRG
04/23/18
INITIATION
OTRG
Positive
Dunkin' Brands initiated with a Positive at OTR Global
OTR Global initiated Dunkin' Brands with a Positive citing strong value promotions, menu simplification, and higher prices contributing to improved trends year-over-year.
04/04/18
BARD
04/04/18
NO CHANGE
Target $74
BARD
Outperform
Dunkin' Brands better trends expected in coming quarters, says Baird
Baird analyst David Tarantino adjusted his Q1 estimates on Dunkin' Brands based entirely on the expected drag from unfavorable weather in its core markets. The analyst remains optimistic that comps momentum can build in Q2 through Q4 behind company specific drivers and a better spending backdrop. Tarantino reiterated his Outperform rating and $74 price target on Dunkin' Brands shares.
02/12/18
BMOC
02/12/18
UPGRADE
Target $69
BMOC
Outperform
Dunkin' Brands upgraded to Outperform at BMO Capital on better comps view
As reported earlier, BMO Capital analyst Andrew Strelzik upgraded Dunkin' Brands to Outperform from Market Perform and raised his price target to $69 from $64. Strelzik cites his increased confidence following the company's investor meeting that the "next gen store image" can refresh the brand and produce an inflection in comps into 2019, estimating 50-100bps in annualized comp improvement. The analyst adds that the company has "strong visibility" in its remodeling progress.
CRI Carter's
$104.96

0.95 (0.91%)

04/23/18
WELS
04/23/18
NO CHANGE
WELS
Wells Fargo bullish on Tapestry, sees tougher setup at Carter's
Wells Fargo analyst Ike Boruchow remains "very bullish" on Tapestry (TPR) and raised estimates ahead of Q3 results. On the flip side, the analyst sees a tougher setup at Carter's (CRI) and is lowering estimates as the combination of unfavorable weather in March as well as multiple wholesale partner bankruptcies announced since the company last reported likely forces management to take a more conservative view on the business. Boruchow reiterates an Outperform rating on both stocks and a $60 price target on Tapestry. However, the analyst lowered his price target on Carter's to $126 from $145.
03/16/18
OPCO
03/16/18
NO CHANGE
Target $135
OPCO
Outperform
Carter's has 'adequate offsets' to Toys 'R' Us liquidation, says Oppenheimer
Oppenheimer analyst Anna Andreeva estimates that the full liquidation of Toys 'R' Us will be about a 1%-2% headwind to Carter's (CRI) fiscal 2018 sales. In a research note to investors, Andreeva noted that on Wednesday Toys 'R' Us, which represents about 2%-3% of total Carter's sales, announced it will completely liquidate, vs. the 20% door closure program announced in January. Importantly, she said, given better replenishment at Kohl's (KSS)/mass channel and momentum at Amazon (AMZN), "we think there are adequate offsets." The analyst has an Outperform rating and $135 price target on Carter's shares.
03/12/18
WELS
03/12/18
NO CHANGE
Target $145
WELS
Outperform
Wells remains bullish on Carter's amid possible Toys R Us liquidation
Wells Fargo analyst Ike Boruchow remains bullish on Carter's after the Wall Street Journal reported last week that Toys R Us is evaluating bids to liquidate all of its U.S. stores. The analyst estimates the net negative impact to Carter's could be 15c-20c, or 2-3% of fiscal year earnings per share. On the positive side, the analyst points out that management is taking a "much more prudent approach" to their real estate strategy with a new plan to close around 120 legacy doors over the next several years. Boruchow sees 10c of earnings per share upside from retail closures and 65c from new store openings over the next five years, leading to 75c of earnings contribution from real estate over the next five years. He keeps an Outperform rating on Carter's with a $145 price target.
03/26/18
RILY
03/26/18
NO CHANGE
Target $127
RILY
Buy
Carter's store closings to bring 'significant' benefits, says B. Riley FBR
B. Riley FBR analyst Susan Anderson believes the impact of Carter's closing 115 underperforming stores over next five years will have "significant" benefits to same-store-sales and margins. The analyst sees over 100 basis points benefit to total EBIT margin and over 3% benefit to total U.S. same-store-sales. She has a Buy rating on Carter's with a $127 price target.
TREE LendingTree
$307.20

-20.45 (-6.24%)

04/13/18
OPCO
04/13/18
NO CHANGE
Target $400
OPCO
Outperform
Oppenheimer says 'incrementally bullish' on digital mortgages, LendingTree
After speaking with LendingTree's senior management at this week's Lendit Fintech Conference, Oppenheimer analyst Jed Kelly told investors in a research note that he is "incrementally bullish" on digital mortgages and on LendingTree leveraging its lender coverage and paid marketing competencies to drive meaningful share gains. Kelly said that, according to management, the Digital Mortgages beta test is "progressing well" with seven lenders, and early indications are lender closing rates are significantly higher than the current average. Kelly maintained an Outperform rating and $400 price target on LendingTree shares.
03/27/18
UBSW
03/27/18
INITIATION
UBSW
Neutral
LendingTree initiated with a Neutral at UBS
UBS analyst Eric Wasserstrom initiated LendingTree with a Neutral rating and $375 price target, saying the current valuation for the company already discounts the firm's positive outlook amid beneficial secular trends.
03/19/18
SPHN
03/19/18
NO CHANGE
Target $420
SPHN
Overweight
LendingTree price target raised to $420 from $385 at Stephens
Stephens analyst John Campbell raised his price target on Lending Tree to $420 from $385 and reiterated an Overweight rating. In a research note to investors, Campbell said LendingTree's valuation as moved into a "fairly frothy territory," but believes the stock is worthy of the premium multiple given its growth engines, "top notch" management team and strategic vision, and what he calls a a leading position against a "robust" long-term market opportunity. LendingTree is one of the best ways to play the ongoing secular trends backing the shift of the financial services industry to online from offline. "We want to own the stock now," Campbell contended, as the company's ongoing business transformation is expected to yield faster market penetration in the coming years.
03/06/18
SUSQ
03/06/18
INITIATION
Target $325
SUSQ
Neutral
LendingTree initiated with a Neutral at Susquehanna
Susquehanna analyst James Friedman initiated LendingTree with a Neutral and $325 price target.
SAVE Spirit Airlines
$37.64

-0.615 (-1.61%)

04/09/18
UBSW
04/09/18
INITIATION
Target $40
UBSW
Neutral
Spirit Airlines initiated with a Neutral at UBS
UBS analyst Darryl Genovesi initiated Spirit Airlines with a Neutral rating and $40 price target.
04/09/18
04/09/18
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. Spirit Airlines (SAVE) initiated with a Neutral at UBS. 2. Northern Oil and Gas (NOG) initiated with a Buy at Stifel. 3. Camtek (CAMT) initiated with an Outperform at Northland. 4. Ares Management (ARES) initiated with a Buy at UBS. 5. Arcus Biosciences (RCUS) initiated with an Outperform at Leerink, a Buy at Citi, and a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/11/18
IMPC
04/11/18
NO CHANGE
IMPC
Spirit Airlines Q1, FY18, FY19 EPS estimates raised at Imperial Capital
Imperial Capital analyst Megan Barnett said that with "current valuations fully reflecting the competitive situation with United (UAL)," investors should look to Spirit Airlines (SAVE) and its ancillary revenue growth. The analyst raised her Q1 EPS estimate for Spirit to 45c from 35c, her FY18 EPS estimate to $3.30 from $2.75, and her FY19 EPS estimate to $4.20 from $4.00. Barnett maintained an Outperform rating and $52 price target on Spirit Airlines shares. The price target is 48% above Spirit's recent share price.
02/07/18
02/07/18
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. Lennar (LEN) upgraded to Overweight from Equal Weight at Barclays with analyst Michael Dahl saying he now expects higher returns, margins and growth, and thinks "strong" free cash flow" creates balance sheet optionality. 2. Chevron (CVX) upgraded to Outperform from Market Perform at Wells Fargo with analyst Roger Read saying he believes the energy sector's potential combination of growth and returns is attractive and could drive better shareholder returns in 2018. 3. Wynn Resorts (WYNN) was upgraded to Overweight from Neutral at JPMorgan and to Buy from Neutral at Nomura Instinet. 4. Snap (SNAP) was upgraded to Buy from Neutral at BofA/Merrill, to Hold from Sell at SunTrust, to Neutral from Underweight at JPMorgan, to In Line from Underperform at Evercore ISI, and to Outperform from Sector Perform at RBC Capital. 5. Spirit Airlines (SAVE) was upgraded to Outperform from Neutral at Macquarie and to Outperform from In-Line at Imperial 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.
KBR KBR
$16.02

-0.255 (-1.57%)

11/01/17
DADA
11/01/17
DOWNGRADE
Target $22
DADA
Neutral
KBR downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Brent Thielman downgraded KBR Inc to Neutral from Buy but raised his price target to $22 from $20. Thielman says KBR shares are now at year-to-date high, adding that while the government services work awards provides some 2018 visibility, the Engineering & Construction segment target is contingent on the company winning more small to mid-size projects between now and first half of 2018. The analyst also notes some "noise" from ongoing litigation activity, concluding that shares are now valued more fairly given less certainty around the near-term upside catalysts.
02/26/18
FBCO
02/26/18
DOWNGRADE
Target $16
FBCO
Neutral
KBR downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Jamie Cook downgraded KBR to Neutral from Outperform as he believes the Ichthys problem project coupled with what is now a highly levered balance sheet and potential risk of a modest equity raise will be an overhang on the stock. The analyst also lowered his price target on the shares to $16 from $24.
02/26/18
DADA
02/26/18
NO CHANGE
Target $17.5
DADA
Neutral
KBR price target lowered to $17.50 from $22 at DA Davidson
DA Davidson analyst Brent Thielman lowered his price target on KBR to $17.50, saying that while the management is still cultivating an organization with an expanded Government Services platform and strong Technology & Consulting business, the company is faced with near-term bottlenecks. Specifically, Thielman states that the company is now funding the completion of Ichthys with its balance sheet, and the changes to completion costs pose a risk. The analyst also points to an "ongoing litigious noise and the already factored expectation E&C bookings build", keeping his Neutral rating.
02/26/18
DBAB
02/26/18
NO CHANGE
Target $19
DBAB
Buy
KBR 16% selloff Friday overdone, says Deutsche Bank
Deutsche Bank analyst Chad Dillard lowered his price target for KBR to $19 from $23 but views the recent share selloff as overdone. The stock fell 16% on Friday on concerns that KBR will need to use its balance sheet to fund a distressed project and that management guided 2018 earnings too aggressively, Dillard tells investors in a research note. The analyst views the likelihood of an equity raise as very low and believes the 2018 guidance is "very achievable." He thinks the shares overshot to the downside and keeps a Buy rating on KBR.

TODAY'S FREE FLY STORIES

HCLP

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$81.19

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Breaking Hot Stocks news story on PRA Health, Abiomed »

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Wyndham

$107.98

-0.58 (-0.53%)

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0.04 (0.01%)

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PCG

PG&E

$44.67

0.84 (1.92%)

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FARM

Farmer Bros.

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NDLS

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05/25
17:07
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17:07
Syndicate
Breaking Syndicate news story on Noodles & Company »

Noodles & Company…

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WIN

Windstream

$1.22

-0.125 (-9.29%)

17:06
05/25/18
05/25
17:06
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17:06
Hot Stocks
Windstream completes one-for-five reverse stock split »

Windstream completed its…

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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

17:06
05/25/18
05/25
17:06
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17:06
Syndicate
Breaking Syndicate news story on Noodles & Company »

Noodles & Company…

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EPD

Enterprise Products

$27.87

-0.12 (-0.43%)

17:01
05/25/18
05/25
17:01
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17:01
Hot Stocks
Enterprise Products conduts open season for West Texas Crude oil expansion »

Enterprise Products…

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INO

Inovio

$4.89

0.06 (1.24%)

16:37
05/25/18
05/25
16:37
05/25/18
16:37
Syndicate
Breaking Syndicate news story on Inovio »

Inovio files $250M mixed…

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RCII

Rent-A-Center

$10.14

0.13 (1.30%)

16:36
05/25/18
05/25
16:36
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16:36
Hot Stocks
Rent-A-Center 16.8% shareholder Engaged Capital nominates Carol McFate to Board »

On May 25, 2018, Engaged…

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AKER

Akers Biosciences

$0.59

0.0086 (1.48%)

16:34
05/25/18
05/25
16:34
05/25/18
16:34
Hot Stocks
Akers Biosciences receives delinquency notice from NASDAQ »

Akers Biosciences…

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DHCP

Ditech

$6.60

0.37 (5.94%)

16:31
05/25/18
05/25
16:31
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16:31
Hot Stocks
Ditech discloses receipt of late filing notice from NYSE »

Ditech Holding announced…

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GPS

Gap

$28.15

-4.82 (-14.62%)

, FL

Foot Locker

$55.97

9.585 (20.67%)

16:30
05/25/18
05/25
16:30
05/25/18
16:30
General news
On The Fly: Top stock stories for Friday »

Stocks on Wall Street…

GPS

Gap

$28.15

-4.82 (-14.62%)

FL

Foot Locker

$55.97

9.585 (20.67%)

HLF

Herbalife Nutrition

$48.76

-5.09 (-9.45%)

IEP

Icahn Enterprises

$69.41

0.22 (0.32%)

FCAU

Fiat Chrysler

$21.82

-0.445 (-2.00%)

DGX

Quest Diagnostics

$105.89

5 (4.96%)

UNH

UnitedHealth

$244.96

2.23 (0.92%)

ROST

Ross Stores

$77.35

-5.6 (-6.75%)

ADSK

Autodesk

$132.80

-5.96 (-4.30%)

AAL

American Airlines

$44.89

1.34 (3.08%)

LUV

Southwest

$52.86

1.65 (3.22%)

DAL

Delta Air Lines

$55.89

1.48 (2.72%)

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    May

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    May

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    Jun

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    Jun

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    Jun

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    Jun

16:30
05/25/18
05/25
16:30
05/25/18
16:30
Options
Preliminary option volume of 16.4M today »

Preliminary option volume…

VTL

Vital Therapies

$5.65

-0.475 (-7.76%)

16:26
05/25/18
05/25
16:26
05/25/18
16:26
Syndicate
Breaking Syndicate news story on Vital Therapies »

Vital Therapies files to…

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  • 05

    Jun

VTL

Vital Therapies

$5.65

-0.475 (-7.76%)

16:26
05/25/18
05/25
16:26
05/25/18
16:26
Syndicate
Breaking Syndicate news story on Vital Therapies »

Vital Therapies files…

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  • 05

    Jun

LNC

Lincoln National

$68.89

-0.555 (-0.80%)

16:24
05/25/18
05/25
16:24
05/25/18
16:24
Syndicate
Breaking Syndicate news story on Lincoln National »

Lincoln National files to…

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DGLY

Digital Ally

$2.63

0.075 (2.94%)

16:23
05/25/18
05/25
16:23
05/25/18
16:23
Syndicate
Breaking Syndicate news story on Digital Ally »

Digital Ally files $25M…

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SNGX

Soligenix

$1.58

-0.005 (-0.32%)

16:23
05/25/18
05/25
16:23
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16:23
Syndicate
Breaking Syndicate news story on Soligenix »

Soligenix files to sell…

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HF

HFF Inc.

$35.34

0.08 (0.23%)

16:21
05/25/18
05/25
16:21
05/25/18
16:21
Hot Stocks
HFF Inc. announces $640M sale of 5 Bryant Park office tower in Manhattan »

HFF announces the $640M…

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  • 30

    May

  • 31

    May

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
05/25/18
05/25
16:20
05/25/18
16:20
Options
Closing CBOE SPX and VIX Index summary for May 25th »

The CBOE Volatility Index…

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