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DWDP

DowDuPont

$63.46

0.42 (0.67%)

, BDX

Becton Dickinson

$230.78

-2.95 (-1.26%)

20:25
05/02/18
05/02
20:25
05/02/18
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include DowDuPont (DWDP), consensus $1.10... Becton Dickinson (BDX), consensus $2.63... Intercontinental Exchange (ICE), consensus 88c... Cigna (CI), consensus $3.39... Regeneron Pharmaceuticals (REGN), consensus $4.32... PG&E (PCG), consensus $1.04... Kellogg (K), consensus $1.08... Cardinal Health (CAH), consensus $1.51... Teva Pharmaceutical (TEVA), consensus 66c... Global Payments (GPN), consensus $1.10... KKR (KKR), consensus 11c... Ball Corp (BLL), consensus 45c... Church & Dwight (CHD), consensus 61c... Huntington Ingalls Industries (HII), consensus $4.07... Leidos (LDOS), consensus $1.02... Pinnacle Foods (PF), consensus 56c... Sprouts Farmers Market (SFM), consensus 49c... World Wrestling Entertainment (WWE), consensus 13c... Sally Beauty (SBH), consensus 56c... TreeHouse Foods (THS), consensus 13c... Avon Products (AVP), consensus (2c)... Blue Apron (APRN), consensus (24c).

DWDP

DowDuPont

$63.46

0.42 (0.67%)

BDX

Becton Dickinson

$230.78

-2.95 (-1.26%)

ICE

IntercontinentalExchange

$72.36

0.03 (0.04%)

CI

Cigna

$172.37

1.335 (0.78%)

REGN

Regeneron

$296.12

-5.3 (-1.76%)

PCG

PG&E

$45.89

-0.37 (-0.80%)

K

Kellogg

$56.65

-2.015 (-3.44%)

CAH

Cardinal Health

$64.66

1.06 (1.67%)

TEVA

Teva

$18.59

-0.11 (-0.59%)

GPN

Global Payments

$112.66

-0.68 (-0.60%)

KKR

KKR

$21.50

0.08 (0.37%)

BLL

Ball Corp.

$38.50

-0.745 (-1.90%)

CHD

Church & Dwight

$45.87

-0.44 (-0.95%)

HII

Huntington Ingalls

$231.99

-2.685 (-1.14%)

LDOS

Leidos

$62.05

-1.42 (-2.24%)

PF

Pinnacle Foods

$59.15

-1.21 (-2.00%)

SFM

Sprouts Farmers Market

$24.40

0.14 (0.58%)

WWE

WWE

$39.81

0.035 (0.09%)

SBH

Sally Beauty

$16.94

-0.245 (-1.43%)

THS

TreeHouse

$36.61

-1.78 (-4.64%)

AVP

Avon Products

$2.51

-0.08 (-3.09%)

APRN

Blue Apron

$2.11

(0.00%)

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DWDP DowDuPont
$63.46

0.42 (0.67%)

02/08/18
SBSH
02/08/18
NO CHANGE
SBSH
Buy
DowDuPont added to Focus List after pullback at Citi
Citi analyst P.J. Juvekar added DowDuPont (DWDP) to his firm's Focus List citing the recent pullback in the shares. His top three picks in Chemicals are now DowDuPont, LyondellBasell (LYB) and Huntsman (HUN). Juvekar keeps a Buy rating on shares of DowDuPont.
03/13/18
BERN
03/13/18
NO CHANGE
Target $90
BERN
Outperform
Fitterling a 'good choice' for New Dow's CEO, says Bernstein
DowDuPont yesterday announced the retirement of Andrew Liveris from the board effective July 1 and the appointment of James "Jim" Fitterling as the CEO of Dow when it is spun out in the first quarter of 2019, while Howard Ungerleider was appointed CFO of New Dow, Bernstein analyst Jonas Oxgaard said in a research note to investors. Oxgaard said none of the announcements were unexpected and the uncertainty around the Dow succession has been settled, as investors had worried that Liveris would make a play for the CEO role post-spin, "and while unlikely, it was still a concern." Fitterling, who was the expected choice for CEO, is "good choice" for New Dow, as he is a "strong" operator with a "good" track record and intimate knowledge of the company. Oxgaard has an Outperform rating and $90 price target on DowDuPont.
03/27/18
BMOC
03/27/18
INITIATION
Target $82
BMOC
Outperform
DowDuPont initiated with an Outperform at BMO Capital
BMO Capital analyst John McNulty started DowDuPont with an Outperform rating and $82 price target.
04/04/18
HSBC
04/04/18
UPGRADE
HSBC
Buy
DowDuPont upgraded to Buy from Hold at HSBC
BDX Becton Dickinson
$230.78

-2.95 (-1.26%)

03/05/18
BMOC
03/05/18
INITIATION
Target $249
BMOC
Market Perform
Becton Dickinson initiated with a Market Perform at BMO Capital
BMO Capital analyst Joanne Wuensch initiated Becton Dickinson with a Market Perform rating and a $249.00 price target.
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.
04/10/18
SBSH
04/10/18
UPGRADE
Target $251
SBSH
Buy
Becton Dickinson upgraded to Buy from Neutral at Citi
Citi analyst Amit Hazan upgraded Becton Dickinson to Buy and raised his price target for the shares to $251 from $237. The analyst sees a "strong setup" for upside to estimates in fiscal 2018, largely driven by the Becton Dickinson side of the business. Further, he sees drug-coated balloons as an important growth driver for the Bard side of the business.
03/06/18
03/06/18
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. Becton Dickinson (BDX) initiated with a Market Perform at BMO Capital. 2. Cardlytics (CDLX) initiated with a Buy at SunTrust, an Overweight at JPMorgan and KeyBanc, a Neutral at BofA/Merrill, and an Outperform at Wells Fargo. 3. iRhythm (IRTC) initiated with an Outperform at BMO Capital. 4. Genocea (GNCA) initiated with an Overweight at Cantor Fitzgerald. 5. Domino's Pizza (DPZ) initiated with an Outperform at Baird. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
ICE IntercontinentalExchange
$72.36

0.03 (0.04%)

02/20/18
JPMS
02/20/18
UPGRADE
Target $83
JPMS
Overweight
IntercontinentalExchange upgraded to Overweight from Neutral at JPMorgan
J.P. Morgan analyst Kenneth Worthington upgraded IntercontinentalExchange to Overweight and raised his price target for the shares to $83 from $76. The analyst cites improving volumes for the upgrade and believes the shares offer attractive relative value among the exchanges.
05/02/18
JPMS
05/02/18
NO CHANGE
Target $83
JPMS
Overweight
JPMorgan favors IntercontinentalExchange among exchange stocks
After a slow start to the year versus peers, IntercontinentalExchange activity levels in its core futures trading businesses have improved more recently, JPMorgan analyst Kenneth Worthington tells investors in a research note. He notes that while other exchanges are seeing a volumes decelerate from strong January and February levels, ICE is seeing much less deterioration and is now showing better year-over-year growth in April. The analyst favors IntercontinentalExchange among the exchange stocks and keeps an Overweight rating on the name with an $83 price target.
04/10/18
BERN
04/10/18
INITIATION
Target $85
BERN
Outperform
IntercontinentalExchange initiated with an Outperform at Bernstein
As previously reported, Bernstein analyst Christian Bolu started Intercontinental Exchange with an Outperform rating and $85 price target as he views it as a balanced play on both the secular growth in data demand and counter cyclical growth characteristics of a classic exchange.
04/09/18
BERN
04/09/18
INITIATION
BERN
Outperform
IntercontinentalExchange initiated with an Outperform at Bernstein
CI Cigna
$172.37

1.335 (0.78%)

04/17/18
LEER
04/17/18
NO CHANGE
LEER
Amazon, Trump news positive for drug supply chain, distributors, says Leerink
Leerink analyst Ana Gupte sees the dual pronged news flow on Amazon (AMZN) being unlikely to enter the Hospital drug supply chain, and President Trump poised to give a speech on drug pricing and supply chain reform on April 26 as HHS Secretary Alex Azar solicits ideas for pricing reform as positive for both the drug supply chain across PBMs and drug distributors and biopharma manufacturers that have been roiled by fears of margin compression on both these threats. Within her coverage, the analyst views this as positive for UnitedHealth (UNH) with its Optum Rx PBM, Cigna (CI) with its deal to acquire Express Scripts (ESRX), and Aetna (AET) which has inked a deal with CVS (CVS) in part through equity, as well as Anthem (ANTM) with IngenioRx and Humana (HUM) with or without its potential Walmart (WMT) deal that has a sizable mail order operation.
04/02/18
LEER
04/02/18
NO CHANGE
LEER
Possible Humana/Walmart deal transformational for U.S. seniors market, says Leerink
Leerink analyst Ana Gupte sees the possible Humana (HUM)-Walmart (WMT) deal as transformational for the U.S. Seniors market and estimates the deal value at close to $50B. The analyst also believes the deal helps Humana compete more effectively with UnitedHealth (UNH)/Optum and Aetna (AET)-CVS (CVS), while Walmart can also compete with Amazon (AMZN) that is eroding sales and likely eyeing an entry into the Prescription Rx market. Gupte expects the anti-trust scrutiny of three deals Aetna-CVS, Cigna (CI)-Express Scripts (ESRX) and Humana-Walmart by the DOJ will be more challenged under simultaneous review by the DOJ, though Walmart and Humana have the least anti-competitive issues. Humana-Walmart could catalyze a counter-offer for Cigna from Walgreens Boots Alliance (WBA) or even Amazon, or re-invigorate Walgreens-AmerisourceBergen (ABC) talks, she contends.
03/15/18
DBAB
03/15/18
NO CHANGE
Target $236
DBAB
Buy
Cigna shares look oversold with or without deal, says Deutsche Bank
Cigna (CI) shares are down 26% from the January $226 high and 14% since the Express Scripts (ESRX) deal was announced on March 8, Deutsche Bank analyst Chris Rigg tells investors in a research note. The analyst estimates pro forma 2021 earnings per share of $21.18 for Cigna and Express Scripts. As such, he sees "ample conservatism" in management's 2021 EPS target range of $20-$21. With or without the deal, Cigna shares look oversold, Rigg contends. He keeps a Buy rating on Cigna with a $236 price target.
03/13/18
BERN
03/13/18
INITIATION
Target $194
BERN
Market Perform
Cigna initiated with a Market Perform at Bernstein
Bernstein analyst Lance Wilkes initiated Cigna (CI) with a Market Perform rating and $195 price target following Cigna's announcement that it will buy Express Scripts (ESRX) for $67B. Wilkes views the deal as a bet that change comes more slowly to healthcare, and that financial returns from this deal will fund future strategic acquisitions for Cigna. In a research note to investors, Wilkes said he believes disruption is coming more quickly, in PBM and pharmacy and in the shift to value, and is "skeptical" of this move by Cigna. The analyst expects earnings growth to slow for Cigna driven by its employer focus, lack of scale and already best in class margins, and added that he has a "negative" outlook for Express Scripts, expecting declining gross margins as they lose Anthem (ANTM) and client pricing pressure as focus increases on drug costs.
REGN Regeneron
$296.12

-5.3 (-1.76%)

05/01/18
RBCM
05/01/18
NO CHANGE
RBCM
Sector Perform
Regeneron's Eylea faces strong competition from brolucizumab, says RBC Capital
RBC Capital analyst Kennen MacKay says yesterday's phase 3 presentation of data from Novartis (NVS) regarding the prospects of brolucizumab in wet age-related macular degeneration suggests that the treatment is strongly positioned vs. Regeneron's (REGN) Eylea. MacKay adds that Novartis intends to submit the Biologics License Applications for brolucizumab in December of this year, with expected launch in the second half of 2019. The analyst keeps his Sector Perform rating on Regeneron.
05/01/18
GUGG
05/01/18
DOWNGRADE
GUGG
Neutral
Regeneron downgraded to Neutral from Buy at Guggenheim
05/01/18
PIPR
05/01/18
NO CHANGE
PIPR
Overweight
Piper says Regeneron deal with Express Scripts for Praluent 'looks meaningful'
Piper Jaffray analyst Christopher Raymond said Regeneron's (REGN) agreement with Express Scripts (ESRX) to improve Praluent access and make it the exclusive PCSK9 on the latter's preferred formulary may "set a somewhat dubious precedent," but he still sees it as a smart move that can reinvigorate Praluent growth. The analyst, who would expect similar agreements with other payers and PBMs are already in the works, keeps an Overweight rating on Regeneron shares.
05/01/18
05/01/18
DOWNGRADE

Neutral
Regeneron downgraded to Neutral at Guggenheim
As previously reported, Guggenheim analyst Adnan Butt downgraded Regeneron to Neutral from Buy after the company reported sales for key products that were below consensus. The analyst points out that a Dupixent miss this early in the launch is disappointing and could foreshadow a slower than forecast ramp. Praluent and Kevzara growth also may not accelerate near-term and Eylea could face new competition, he adds.
PCG PG&E
$45.89

-0.37 (-0.80%)

02/12/18
WELS
02/12/18
NO CHANGE
Target $45
WELS
Market Perform
PG&E price target lowered to $45 from $60 at Wells Fargo
Wells Fargo analyst Neil Kalton lowered his price target for PG&E to $45 from $60 saying the shares have shed roughly half of their value and now arguably embed $12B-13B of shareholder liability for prior or future wildfire risk. The analyst thinks the share price reflects excessive risk and believes California's inverse condemnation principle is an untenable law longer-term, with no easy or near-term solution. Kalton reiterates a Market Perform rating on the shares.
04/05/18
EDJN
04/05/18
UPGRADE
EDJN
Hold
PG&E upgraded to Hold from Sell at Edward Jones
Edward Jones analyst Andrew Smith upgraded PG&E (PCG) to Hold saying the worst of the fallout from the Northern California wild fires is now reflected in the valuation. Smith this morning also upgraded shares of Edison International (EIX) to Hold.
02/02/18
UBSW
02/02/18
INITIATION
Target $48
UBSW
Neutral
PG&E initiated with a Neutral at UBS
UBS analyst Daniel Ford started PG&E with a Neutral rating and $48 price target.
04/26/18
MSCO
04/26/18
NO CHANGE
MSCO
Recent developments encouraging for California utilities, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd noted that a draft bill passed by California's Senate Governmental Organization Committee days ago would effectively allow Utilities to recover wildfire-related costs to the extent that they substantially comply with an agreed upon fire risk mitigation plan, which he views as encouraging. The next legal matters he is watching are today's Butte litigation rehearing request at California's Superior Court and the "very important" upcoming hearing on the North Bay fires and Inverse Condemnation, Byrd tells investors. He keeps an Overweight rating on PG&E (PCG) but also sees upside in Edison International (EIX), on which he has an Equal Weight rating.
K Kellogg
$56.65

-2.015 (-3.44%)

04/16/18
FBCO
04/16/18
NO CHANGE
Target $63
FBCO
Neutral
Kellogg price target lowered to $63 from $70 at Credit Suisse
Credit Suisse analyst Robert Moskow lowered his price target for Kellogg to $63 from $70 saying its challenged product portfolio and exposure to the declining breakfast cereal category merits this discount. The analyst reiterates a Neutral rating on the shares.
03/01/18
03/01/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wendy's (WEN) upgraded to Neutral from Sell at UBS by analyst Dennis Geiger, who has greater confidence in the company's free cash flow targets and same-store-sales momentum following his firm's survey of quick service restaurants consumers. The survey showed improved brand perceptions for Wendy's, Geiger said. 2. Kellogg (K) upgraded to Overweight from Neutral at Piper Jaffray by analyst Michael Lavery, who believes the valuation is attractive given his expectations for 8%-9% three-year earnings growth. A cash build should allow for earnings "flexibility and/or upside with upside to our buybacks assumptions," Lavery said. He believes expectations for Kellogg look achievable and maybe beatable. The analyst is more bullish on the shares following a meeting with management. 3. Carrizo Oil & Gas (CRZO) upgraded to Buy from Hold at Jefferies by analyst Mark Lear, who sees value in the shares following the recent underperformance. The company's Eagle Ford wells are tracking ahead of the updated type curve while the oil macro backdrop coming out of the Q4 earnings season is improving, Lear said. He believes the worst is behind Carrizo. 4. Eaton (ETN) upgraded to Neutral from Underweight at JPMorgan by analyst Ann Duignan, who said the risk/reward is balanced ahead of the company's analyst day. 5. Macy's (M) upgraded to Buy from Hold at Gordon Haskett by analyst Chuck Grom, who sees a pathway for improved comps over the next couple of years. This, coupled with the 27% reduction in float over the past decade, "yields a model with tremendous torque" and the potential for earnings upside, Grom tells investors in a research note. The analyst, who states he fully appreciates the long-term secular argument against the department store vertical, likes Macy's risk/reward profile at current share levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/01/18
PIPR
03/01/18
UPGRADE
Target $80
PIPR
Overweight
Kellogg upgraded to Overweight with $80 price target at Piper Jaffray
Piper Jaffray analyst Michael Lavery upgraded Kellogg to Overweight and raised his price target for the shares to $80 from $77. The analyst believes the valuation is attractive given his expectations for 8%-9% three-year earnings growth. A cash build should allow for earnings "flexibility and/or upside with upside to our buybacks assumptions," Lavery tells investors in a research note. He believes expectations for Kellogg look achievable and maybe beatable. The analyst is more bullish on the shares following a meeting with management.
02/28/18
PIPR
02/28/18
UPGRADE
PIPR
Overweight
Kellogg upgraded to Overweight from Neutral at Piper Jaffray
CAH Cardinal Health
$64.66

1.06 (1.67%)

05/02/18
LEER
05/02/18
NO CHANGE
LEER
Legacy distributors have defendable moat versus Amazon, says Leerink
Leerink analyst David Larsen recently hosted a MEDACorp Pulse Call with two medical-surgical supply chain specialists to discuss GPOs, legacy distributors, and Amazon's (AMZN) reported struggles breaking into the space. Overall his specialists were not surprised that Amazon has found medical supply distribution to be a challenge and cited the unique distribution needs of hospitals. Overall, Larsen continues to believe that legacy distributors have a defendable moat and that Amazon will likely only capture modest share over the next few years. The analyst remains positive on Cardinal Health (CAH) and Henry Schein (HSIC).
04/24/18
04/24/18
UPGRADE
Target $75

Outperform
Cardinal Health upgraded to Outperform at Leerink
As previously reported, Leerink analyst David Larsen upgraded Cardinal Health (CAH) to Outperform from Market Perform as he believes several long-term overhangs are lifting including the stabilization of both generic and brand pricing from Cardinal's perspective, less risk from drug pricing reform, and as he thinks Amazon (AMZN) is less of a threat than many investors expect. The analyst also raised his price target on the shares to $75 from $70.
04/17/18
MZHO
04/17/18
NO CHANGE
MZHO
Amazon news removes 'unprecedented overhang' on drug sellers, says Mizuho
After CNBC reported yesterday afternoon that Amazon (AMZN) has decided to shelve its plan to sell and distribute pharmaceutical products, Mizuho analyst Ann Hynes said she had thought Amazon's current logistics and distribution model would not translate into healthcare. However, based on conversations with investors, she believes the magnitude of the overhang that Amazon presented for drug distributors and retail pharmacies was "unprecedented." While drug pricing is still a concern, she notes that the CNBC report removes one overhang on the drug supply chain stocks. Hynes remain a buyer of CVS Health (CVS) and Walgreens (WBA) and keeps Neutral ratings on Rite Aid (RAD) as well as on drug distributors AmerisourceBergen (ABC), Cardinal Health (CAH) and McKesson (MCK).
04/24/18
LEER
04/24/18
UPGRADE
LEER
Outperform
Cardinal Health upgraded to Outperform from Market Perform at Leerink
TEVA Teva
$18.59

-0.11 (-0.59%)

04/30/18
DBAB
04/30/18
NO CHANGE
Target $22
DBAB
Buy
Deutsche raises Valeant price target on extended Xifaxan exclusivity
The stay in the Xifaxan litigation between Valeant Pharmaceuticals (VRX) and Teva (TEVA) was recently extended to July 30, 2018 from April 30, 2018, and may be extended further, Deutsche Bank analyst Gregg Gilbert tells investors in an intraday research note. According to the court docket, the companies agreed to extend the stay "because the facts and circumstances that warranted a stay as of May 15, 2017 have not materially changed," Gilbert adds. He previously modeled Xifaxan exclusivity through 2024, but pushed that out one more year saying Teva "does not yet appear to have clarity on the path forward for its generic filing." The exclusivity extension to 2025 on Valeant's largest product pushes the analyst's price target for the shares to $22 from $20. The stock in midday trading is up 19c to $18.26. Gilbert looks forward to an update from Teva when the company reports on May 3 and continues to like the risk/reward for Valeant. He keeps a Buy rating on the shares.
04/20/18
WELS
04/20/18
NO CHANGE
Target $16.5
WELS
Underperform
Teva joint venture termination a slight negative, says Wells Fargo
Wells Fargo analyst David Maris believes the termination of the Procter & Gamble (P&G) consumer healthcare joint venture is a "very small negative" for Teva (TEVA). The analyst sees the sales impact being only $75M in 2018 for Teva. He keeps an Underperform rating on the shares with a $16.50 price target.
04/27/18
JEFF
04/27/18
NO CHANGE
Target $105
JEFF
Buy
Neurocrine's Ingrezza can beat Q1 estimates, says Jefferies
Jefferies analyst Biren Amin says his firm's fifth proprietary survey on tardive dyskinesia reaffirms that Neurocrine Biosciences' (NBIX) Ingrezza is leading Teva's (TEVA) Austedo in market share for both moderate-severe and mild cases. The analyst thinks Ingrezza can modestly beat consensus estimates for Q1. He keeps a Buy rating on Neurocrine shares with a $105 price target.
04/19/18
WELS
04/19/18
NO CHANGE
WELS
Wells says bottom has not been reached in generics pricing
After Aceto (ACET) cited the continued intense competitive and pricing pressures in the generic industry when withdrawing its guidance last night, and Novartis (NVS) this morning reported that net sales at its generic unit Sandoz dropped 4% in the quarter, Wells Fargo analyst Davis Maris says he's not ready to call the bottom in generics pricing. Those that have are premature, Maris tells investors in a research note titled "Negative Read Throughs For Generics Continue." The Aceto and Sandoz pricing news shows the data continue to be negative for U.S. generic industry pricing, the analyst contends. He sees a negative read-through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL).
GPN Global Payments
$112.66

-0.68 (-0.60%)

03/14/18
NOMU
03/14/18
NO CHANGE
Target $64
NOMU
Buy
Nomura sees similarities between Square and early days Amazon
Like Amazon.com (AMZN) in its early days, little of Square's (SQ) future revenue streams are currently visible, Nomura Instinet analyst Dan Dolev tells investors in a research note. He notes that his $64 price target for Square shares assumes continued mix shift to large sellers and growing penetration of accretive services like virtual terminal, e-commerce and capital. The stock closed yesterday at $51.83. Success internationally and the scaling of new services like banking would represent incremental upside to estimates for Square, Dolev writes. Nomura's inaugural Square Merchant Survey indicates that 60% of merchants are willing to accept bitcoin as payment. It also highlights Squares "robust customer satisfaction" and its share gains against First Data (FDC) and Global Payments (GPN), the analyst adds. Dolev says First Data and its "ailing" joint venture partners accounted for 47% of displaced merchants while about 12% emanated from the Global Payments/Heartland channel, according to the survey.
04/02/18
BARD
04/02/18
NO CHANGE
Target $130
BARD
Outperform
Global Payments can grind higher toward $130 by year-end, says Baird
Baird analyst David Koning believes Global Payments can continue to grind higher toward $130 per share by the end of 2018, but would not be surprised to see the shares hang in the $110-$114 range into earnings. The analyst believes the stock's current valuation provides a good entry point for long-term investors and he expects solid quarterly results when the company reports in early May. Koning reiterated his Outperform rating and raised his price target on Global Payments to $130 from $126.
03/02/18
03/02/18
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. eBay (EBAY) upgraded to Strong Buy from Market Perform at Raymond James. 2. Global Payments (GPN) upgraded to Overweight from Neutral at Piper Jaffray by analyst Jason Deleeuw, who said that the integrated payments channel in the merchant processing space is undergoing a "profound shift" with software solutions gaining power as omni-channel payments and business solutions become increasingly valued by merchants. He sees Global Payments as "strategically well-positioned for the evolution." The analyst expects Global Payments's "strong" competitive positioning will sustain a higher rate of long-term organic growth than peers and believes the stock warrants a premium valuation. 3. Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank by analyst Brett Levy, who said that the company's fundamental and strategic progress may result in faster growth and multiple expansion. Levy also upgraded Del Frisco's (DFRG) to Buy from Hold, saying the company's operational and strategic initiatives may drive fundamental improvements, which creates a "reasonable" risk/reward profile. 4. Allegheny Technologies (ATI) upgraded to Overweight from Sector Weight at KeyBanc by analyst Philip Gibbs, who said the stock's risk/reward is "more intriguing" despite tariff concerns. The analyst has "greater comfort" around flat rolled margin improvement potential and notes his 2019 sum-of-the-parts valuation analysis yields an eventual share value of above $35. Shares were also upgraded to Buy from Neutral at BofA/Merrill by analyst Timna Tanners, who believes that the recent weakness in the stock price presents an attractive entry opportunity given the company's expected benefits from the jet engine new technology cycle. The analyst further states that the recent sell-off may have been driven by concerns over the impact of U.S. steel tariffs on its sourcing relationship with China's Tsingshan, adding that in yesterday's discussion, the management has expressed confidence in receiving an exception to any slab tariff. 5. Splunk (SPLK) upgraded to Buy from Hold at Stifel by analyst Brad Reback, who said last night's "strong" Q4 indicates the company is successfully transitioning its business model toward subscription revenue. The analyst believes all of the company's key business metrics suggest it is on track to achieve its fiscal 2020 targets. 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
NOMU
03/26/18
NO CHANGE
Target $92
NOMU
Reduce
Nilson data may suggest Global Payments is losing merchants, says Nomura
Nomura Instinet analyst Dan Dolev believes the Nilson Report's annual list of top U.S. Merchant Acquirers could indicate that Global Payments is losing merchants. He sees a "potential dissonance" between management's assertion of low-double-digit direct organic growth in the U.S. and "industry low attrition," versus the 3% decline in merchant count and "lackluster" 3% transaction growth per Nilson. Dolev keeps a Reduce rating on Global Payments with a $92 price target.
KKR KKR
$21.50

0.08 (0.37%)

01/09/18
GSCO
01/09/18
UPGRADE
Target $29
GSCO
Conviction Buy
KKR upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein upgraded KKR to Conviction Buy and raised his price target for the shares to $29 from $24.50. The analyst sees the "evolution of KKR's business mix" leading to a more stable earnings profile and higher multiple over time. KKR remains the most inexpensive stock among alternative managers, Blostein tells investors in a research note.
01/10/18
FBCO
01/10/18
NO CHANGE
Target $31
FBCO
Outperform
KKR price target raised to $31 from $23 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler raised his price target for KKR to $31 from $23 as he believes the macro backdrop should provide tailwinds for the Alternative Asset Managers while lower corporate tax rate should boost the valuation of their underlying portfolios. The analyst reiterates an Outperform rating on the shares.
01/30/18
MSCO
01/30/18
NO CHANGE
MSCO
Morgan Stanley says Ares may be first, Apollo may gain most from C-corp convert
Morgan Stanley analyst Michael Cyprys said he sees an opportunity for Alternative Asset Managers to unlock value by converting to C-corps, as shifting from a partnership structure could help alleviate some tax reporting complexities and expand the universe of eligible investors. He sees Ares Management (ARES) as possibly the first to convert and expects a potential announcement or indications of management's intentions about a conversion when the company reports earnings on February 15. While Ares may be first, Cyprys sees Apollo Global (APO) as potentially being able to unlock the most value from a conversion, with 26% near-term upside possible if the shares re-rate. He sees a less favorable conversion scenario for asset managers with lower taxes and/or greater exposure to performance fees, including KKR (KKR), Carlyle Group (CG) and Blackstone (BX), Cyprys tells investors.
11/28/17
SDLR
11/28/17
INITIATION
Target $21
SDLR
Hold
KKR resumed with a Hold at Sandler ONeill
Sandler O'Neill resumed coverage of KKR with a Hold rating and $21 price target.
BLL Ball Corp.
$38.50

-0.745 (-1.90%)

02/11/18
KEYB
02/11/18
UPGRADE
KEYB
Sector Weight
Ball Corp. upgraded to Sector Weight from Underweight at KeyBanc
KeyBanc analyst Adam Josephson upgraded Ball Corp. to Sector Weight citing valuation following the Q4 beat.
01/17/18
SBSH
01/17/18
UPGRADE
Target $45
SBSH
Buy
Ball Corp. upgraded to Buy from Neutral at Citi
Citi analyst Anthony Pettinari upgraded Ball Corp. to Buy and raised his price target for the shares to $45 from $43. The analyst views the recent selloff as overdone and sees an attractive entry point at current share levels. He also sees a "compelling setup" into Ball's Q4 results.
12/15/17
VERT
12/15/17
UPGRADE
VERT
Buy
Ball Corp. upgraded to Buy on valuation at Vertical Research
Vertical Research analyst Chip Dillon upgraded Ball Crop to Buy from Hold citing the recent drop in shares and maintained a $44 price target
01/17/18
JPMS
01/17/18
DOWNGRADE
Target $30
JPMS
Underweight
Silgan Holdings downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Tyler Langton downgraded Silgan Holdings (SLGN) to Underweight and lowered his price target for the shares to $30 from $32. The analyst cites valuation for the downgrade, noting Silgan is trading at a premium to Crown Holdings (CCK) on a free cash flow yield basis despite its lower margins and growth potential. The analyst names Berry Global (BERY), Ball Corp. (BLL) and Crown Holdings his top Packaging picks for 2018. He sees the sector's earnings growth rebounding this year.
CHD Church & Dwight
$45.87

-0.44 (-0.95%)

02/07/18
OPCO
02/07/18
UPGRADE
Target $54
OPCO
Outperform
Church & Dwight upgraded to Outperform with $54 target at Oppenheimer
Oppenheimer analyst Rupesh Parikh upgraded Church & Dwight to Outperform from Perform with a $54 price target. The analyst sees a "compelling case for outperformance" following the company's "upbeat" analyst day and "encouraging" fiscal 2018 guidance, as well as the recent pullback in the shares. Parikh thinks investors will again look favorably on Church & Dwight's prospects following the stock's underperformance since 2016.
02/07/18
OPCO
02/07/18
UPGRADE
OPCO
Outperform
Church & Dwight upgraded to Outperform from Perform at Oppenheimer
04/20/18
DBAB
04/20/18
DOWNGRADE
Target $50
DBAB
Hold
Church & Dwight downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Stephen Powers downgraded Church & Dwight to Hold and lowered his price target for the shares to $50 from $56.
04/20/18
DBAB
04/20/18
NO CHANGE
Target $80
DBAB
Hold
Deutsche Bank downgrades Procter & Gamble, Church & Dwight to Hold
Deutsche Bank analyst Steve Powers downgraded both Procter & Gamble (PG) and Church & Dwight (CHD) to Hold from Buy saying Household & Personal Care is "in a tough spot." The analyst expects incremental pricing pressure to build over the course of 2018 in many categories. Perhaps as a result of tax reform, combined with pre-existing competition, retailers and manufacturers seem willing to reinvest aggressively in order to preserve share, Powers tells investors in a research note. He views this as a "troublesome set-up" for Household & Personal Care names. Along with the two downgrades, the analyst lowered his price targets for Kimberly-Clark (KMB), Edgewell Personal (EPC), Colgate-Palmolive (CL) and Clorox (CLX).
HII Huntington Ingalls
$231.99

-2.685 (-1.14%)

03/29/18
LEHM
03/29/18
INITIATION
Target $309
LEHM
Overweight
Huntington Ingalls initiated with an Overweight at Barclays
Barclays analyst David Strauss started Huntington Ingalls (HII) with an Overweight rating and $309 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).
03/08/18
FBCO
03/08/18
NO CHANGE
FBCO
Huntington Ingalls, U.S. Steel new number 1 Top Picks at Credit Suisse
Credit Suisse added four new number 1 to its Top Picks list, namely Huntington Ingalls (HII), Restaurant Brands (QSR), RSP Permian (RSPP). U.S. Steel (X) and upgraded eBay (EBAY).
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.
04/16/18
FBCO
04/16/18
NO CHANGE
Target $328
FBCO
Outperform
Huntington Ingalls price target lowered to $328 from $335 at Credit Suisse
Credit Suisse analyst Robert Spingarn lowered his price target for Huntington Ingalls to $328 from $335 ahead of results as he believes margins could soften, but any weakness will likely temporary. The analyst reiterates an Outperform rating on the shares.
LDOS Leidos
$62.05

-1.42 (-2.24%)

03/01/18
GSCO
03/01/18
UPGRADE
Target $100
GSCO
Conviction Buy
Leidos upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman analyst Noah Poponak added Leidos to the Conviction Buy List and raised its price target to $100 from $91. Poponak said Leidos is the cheapest name on the defense side of his coverage despite accelerating revenue growth, improving key government budget drives, and expanding margins. He expects free cash flow generation to be strong over the next several years and estimates ROIC will improve 500 bps over then next three years.
02/26/18
SBSH
02/26/18
NO CHANGE
Target $75
SBSH
Buy
Leidos price target raised to $75 from $71 at Citi
Citi analyst Jonathan Raviv attributes the mixed stock performance of Leidos following the company's Q4 results to a perceived sales and cash guidance miss. The analyst, however, believes the initial 2018 outlook appears conservative with underlying trends, in addition to the stock buyback, supporting continued upside. He raised his price target for Leidos to $75 from $71 and keeps a Buy rating on the shares.
04/23/18
SBSH
04/23/18
UPGRADE
Target $71
SBSH
Buy
Citi upgrades Cerner to Buy on government EHR opportunity
Citi analyst Stephanie Demko upgraded Cerner (CERN) to Buy from Neutral with an unchanged price target of $71. The Department of Defense and Veterans Affairs are embarking on electronic health records upgrade projects worth greater than $14B, which is good for both Cerner and Leidos Holdings (LDOS), Demko tells investors in a research note. The analyst raised her price target for Leidos to $80 from $75 and keeps a Buy rating on the shares. Demko says contract delays at Veterans Affairs are an unfortunate, but normal, part of the government process. She believes both companies will address the critical needs facing the government.
03/26/18
03/26/18
UPGRADE

Leidos awarded U.S. Army munitions services contract valued about $112M
Leidos was awarded a prime contract by the U.S. Army to continue to provide logistics services to the 1st Theater Sustainment Command, or TSC, in support of U.S. Army Central, or ARCENT, the Army component of U.S. Central Command, or CENTCOM. The single-award cost-plus fixed-fee/cost-plus incentive-fee contract has a one-year base period of performance, five one-year options, and a total contract value of approximately $112M. Work will be performed in Kuwait.
PF Pinnacle Foods
$59.15

-1.21 (-2.00%)

04/30/18
04/30/18
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. Wayfair (W) downgraded to Neutral from Outperform at Wedbush with analyst Seth Basham citing rising CAC and profitability pressures. 2. JetBlue (JBLU) downgraded to Neutral from Overweight at JPMorgan with analyst Jamie Baker saying a lack of pilot progress, a "paucity of international RASM exposure," and the "uphill battle" to rein in non-labor costs represent "burdens" for JetBlue shareholders. 3. Owens Corning (OC) downgraded to Outperform from Top Pick at RBC Capital with analyst Michael Eisen citing the company's first quarter earnings miss. 4. Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Dara Mohsenian saying the company posted weak organic sales in Q1 and pointed out on its associated call that emerging markets are decelerating. 5. Pinnacle Foods (PF) downgraded to Neutral from Buy at Buckingham with analyst Eric Larson 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.
04/30/18
BUCK
04/30/18
DOWNGRADE
BUCK
Neutral
Pinnacle Foods downgraded to Neutral from Buy at Buckingham
Buckingham analyst Eric Larson downgraded Pinnacle Foods citing valuation and maintained a $62 price target.
04/20/18
JEFF
04/20/18
NO CHANGE
Target $67
JEFF
Buy
Conagra a natural buyer of Pinnacle Foods, says Jefferies
Jana Partners is likely to push for sale of Pinnacle Foods (PF) or consolidation opportunities, Jefferies analyst Akshay Jagdale tells investors in a research note after the activist disclosed a stake. He believes Conagra Brands (CAG) is one of the natural buyers and that a potential combination with Pinnacle would be "significantly accretive." Jagdale assumes a purchase price of $72 per share for Pinnacle, which represents a 30% premium to the current price. The analyst keeps a Buy rating on the shares with a $67 price target.
04/20/18
WBLR
04/20/18
NO CHANGE
WBLR
Outperform
Pinnacle takeout price could be $75-$80 per share, says William Blair
William Blair analyst Jon Andersen says that if a sale of Pinnacle Foods were to be the outcome following the activist stake by Jana Partners, previous deals in the food space suggest a takeout price of $75-$80 per share. Jana is "keen on unlocking additional value from Pinnacle's portfolio and operations," Andersen tells investors in a research note. He keeps an Outperform rating on Pinnacle Foods.
SFM Sprouts Farmers Market
$24.40

0.14 (0.58%)

04/17/18
FBCO
04/17/18
INITIATION
FBCO
Neutral
Sprouts Farmers Market initiated with a Neutral at Credit Suisse
02/23/18
JPMS
02/23/18
NO CHANGE
Target $30
JPMS
Overweight
Sprouts remains 'under-the-radar' growth story, says JPMorgan
JPMorgan analyst Ken Goldman raised his price target for Sprouts Farmers Market to $30 from $28 citing continued strength in fundamentals following the company's Q4 results. Sprouts remains an "under-the-radar retail growth story," Goldman tells investors in a post-earnings research note. He reiterates an Overweight rating on the shares.
04/13/18
OPCO
04/13/18
NO CHANGE
OPCO
Outperform
Low levels of food inflation to keep weighing on grocery names, Oppenheimer says
Following a government report this week that showed another month of soft food inflation data, Oppenheimer analyst Rupesh Parikh said he expects low food inflation to continue to weigh on grocery names, taking a "subdued" view into earnings for pure-play grocery names like Kroger (KR), National Grocers (NGVC), Sprouts Farmers Market (SFM) and Smart & Final Stores (SFS). Parikh's top picks across the broader grocery/discounter space remain Dollar General (DG) and Dollar Tree (DLTR), followed by Sprouts, he said. The analyst has an Outperform rating on Dollar General, Dollar Tree and Sprouts, and a Perform rating on Kroger, Natural Grocers, Smart & Final Stores and United Natural Foods (UNFI).
04/17/18
FBCO
04/17/18
INITIATION
FBCO
Neutral
Sprouts Farmers Market initiated with a Neutral at Credit Suisse
Credit Suisse analyst Judah Frommer initiated Sprouts Farmers Market with a Neutral rating and $26 price target, citing limited visibility and "increasingly muddled" differentiation.
WWE WWE
$39.81

0.035 (0.09%)

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.
04/17/18
JPMS
04/17/18
DOWNGRADE
Target $39
JPMS
Neutral
WWE downgraded to Neutral from Overweight at JPMorgan
JP Morgan analyst David Karnovsky downgraded WWE to Neutral while raising his price target for the shares to $39 from $37. The analyst views the stock's current risk/reward as more balanced ahead of the company's media rights cycle. He notes the stock is up 83% since the Q3 earnings on October 26 and 37% since early December.
04/10/18
BNCH
04/10/18
NO CHANGE
BNCH
WWE's WrestleMania 34 event impressive, says Benchmark
Benchmark analyst Mike Hickey was impressed with WWE's WrestleMania 34 and expects continued brand momentum after WWE released a business update on Monday night. The analyst believes this provide a "compelling stage" for the company's upcoming TV rights fees negotiation window. Hickey maintains a Buy rating and $40 price target on WWE shares.
04/20/18
BTIG
04/20/18
NO CHANGE
Target $46
BTIG
Buy
WWE price target raised to $46 from $36 at BTIG
BTIG analyst Brandon Ross raised his price target on WWE (WWE) to $46, citing the company's confidence that they can come to an agreement on renewing the rights to their Raw and SmackDown programs which are set to expire in Q3 of 2019. The analyst adds that he has turned "more bullish" regarding the outcome of these negotiations over the past several weeks, suggesting the demand for live programming could lead to emergence of interested bidders among digital platforms such as Facebook (FB).
SBH Sally Beauty
$16.94

-0.245 (-1.43%)

11/16/17
DADA
11/16/17
DOWNGRADE
DADA
Neutral
Sally Beauty downgraded to Neutral from Buy at DA Davidson
11/16/17
COWN
11/16/17
NO CHANGE
Target $18
COWN
Outperform
Sally Beauty price target lowered to $18 from $24 at Cowen
Cowen analyst Oliver Chen lowered his price target on Sally Beauty to $18 from $24 following the company's earnings report, citing execution issues and the impact of the hurricanes. The analyst expects the company to refocus on execution and to accelerate its e-commerce investment to help drive accessibility to brands and capture incremental customers. Chen maintained his Outperform rating on Sally Beauty shares.
11/16/17
BMOC
11/16/17
NO CHANGE
Target $16
BMOC
Market Perform
Sally Beauty price target lowered to $16 from $21 at BMO Capital
BMO Capital analyst Shannon Coyne lowered the price target on Sally Beauty to $16 following Q4 revenue miss, saying the quarter was in part impacted by the hurricane activity. While the management's commitment to update the company's technology and CRM capabilities is encouraging, writes the analyst, execution risk looms for FY18 amid ongoing challenges of improving traffic trends. The analyst keeps Market Perform rating on Sally Beauty.
11/16/17
DADA
11/16/17
DOWNGRADE
Target $16
DADA
Neutral
Sally Beauty downgraded to Neutral at DA Davidson on lower SSS growth
As reported earlier, DA Davidson analyst Linda Bolton Weiser downgraded Sally Beauty to Neutral from Buy and lowered her price target to $16 from $21. Weiser cites below consensus SSS in terms of both reported Q4 and FY18 outlook, adding that declines in EBITDA may also weigh on the company's share buybacks at some point. The analyst also adjusts her model to forecast long term comps at flat to down from flat to up.
THS TreeHouse
$36.61

-1.78 (-4.64%)

12/13/17
JPMS
12/13/17
NO CHANGE
Target $39
JPMS
Underweight
JPMorgan 'increasingly pessimistic' on TreeHouse's cash flow outlook
JPMorgan analyst Joshua Levine says he's "increasingly pessimistic" about the near-term free cash flow outlook for TreeHouse Foods. The analyst sees a "number of quantifiable drivers" that could cause the company's free cash flow to come in meaningfully below consensus in 2018 and 2019. He sees another potential leg down for the stock and keeps an Underweight rating on TreeHouse with a $39 price target.
01/04/18
WELS
01/04/18
NO CHANGE
Target $46
WELS
Market Perform
TreeHouse price target raised to $46 from $41 at Wells Fargo
Wells Fargo analyst John Baumgartner raised his price target for TreeHouse to $46 from $41, citing tax reform and stronger macros. The analyst reiterates a Market Perform rating on the shares.
12/04/17
WOLF
12/04/17
INITIATION
WOLF
Peer Perform
TreeHouse initiated with a Peer Perform at Wolfe Research
11/16/17
VERF
11/16/17
UPGRADE
VERF
Buy
TreeHouse upgraded to Buy from Hold at Vertical Group
AVP Avon Products
$2.51

-0.08 (-3.09%)

11/07/17
DADA
11/07/17
NO CHANGE
Target $2
DADA
Neutral
Avon Products price target lowered to $2 from $3 at DA Davidson
DA Davidson analyst Linda Bolton Weiser lowered her price target on Avon to $2 following the latest quarterly results. Weiser notes that along with the EPS miss, sales were flat and 100bp operating margin expansion model was too optimistic. The analyst notes that service disruptions and investments this year have offset cost reductions, while earthquakes in Mexico will likely weigh on Q4 earnings. The analyst is keeping her Neutral rating on Avon.
11/20/17
DADA
11/20/17
NO CHANGE
Target $2
DADA
Buy
Coty may consider acquiring Avon Products, says DA Davidson
DA Davidson analyst Linda Bolton Weiser speculates that Coty (COTY) may be interested in acquiring Avon Products (AVP). Weiser says Coty has recently added $587M in debt and when asked about it on the earnings call, it claimed it was related to Burberry license acquisition where the payment was only expected to be about $162M. Coty management has also hinted that it intends to grow its EPS by using its balance sheet, says the analyst in her research note. Weiser keeps her Buy rating and $2 price target on Avon, saying the company "represents one of very few ways to gain immediate entry to the Latin American beauty market" while also noting that Coty "raves" about direct-to-consumer sales models.
01/04/18
BOFA
01/04/18
DOWNGRADE
BOFA
Underperform
Avon Products downgraded to Underperform from Neutral at BofA/Merrill
01/04/18
BOFA
01/04/18
DOWNGRADE
Target $2.5
BOFA
Underperform
Avon Products downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded Avon Products to Underperform from Neutral and lowered its price target to $2.50 from $3.50. Analyst Olivia Tong does not expect a quick rebound for Avon in 2018 following underwhelming 2017 results and sees continued risk to sales, margins, and cash flow.
APRN Blue Apron
$2.11

(0.00%)

02/16/18
02/16/18
UPGRADE

Neutral
Blue Apron upgraded to Neutral on retail partnership potential at Northcoast
As previously reported, Northcoast analyst Charles Cerankosky upgraded Blue Apron to Neutral from Sell. He noted that management is suggesting the company could be at breakeven EBITDA by year end, though he "is far less optimistic." Still, given the pressure of its negative cash flow, he thinks Blue Apron will explore a retail distribution partnership, which could have a potential headline benefit. However, Cerankosky added that he expects that even if such a retail distribution partnership was struck, he believes "disappointing sales at retail would likely force such a relationship to die quickly."
02/16/18
NRCS
02/16/18
UPGRADE
NRCS
Neutral
Blue Apron upgraded to Neutral from Sell at Northcoast
02/14/18
ADAM
02/14/18
NO CHANGE
Target $8
ADAM
Buy
Blue Apron showing signs of stabilization, says Canaccord
Canaccord analyst Michael Graham said Blue Apron's Q4 results were generally inline with expectations, with EBITDA better than expected. The analyst said Blue Apron has had its share of challenges since its IPO, but he is cautiously optimistic given its low valuation, the resumption of marketing spending, reduced capex requirements, and the potential for partnerships and product expansion. Graham maintained his Buy rating and lowered his price target to $8 from $10 on Blue Apron shares.
02/02/18
02/02/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. VF Corp. (VFC) initiated with an Overweight at Barclays. 2. JinkoSolar (JKS) initiated with a Sell at Vertical Group. 3. Chimerix (CMRX) initiated with a Buy at H.C. Wainwright. 4. Voyager Therapeutics (VYGR) initiated with an Overweight at Morgan Stanley. 5. Blue Apron (APRN) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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SHPG

Shire

$175.59

-3.39 (-1.89%)

TEVA

Teva

$22.25

-0.37 (-1.64%)

SNY

Sanofi

$45.11

0.56 (1.26%)

GSK

GlaxoSmithKline

$40.35

-0.06 (-0.15%)

AZN

AstraZeneca

$40.67

-0.685 (-1.66%)

CHD

Church & Dwight

$65.42

-0.39 (-0.59%)

BSX

Boston Scientific

$37.22

0.75 (2.06%)

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    Mar

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    Apr

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    May

PDVW

pdvWireless

$39.84

0.06 (0.15%)

16:30
11/17/18
11/17
16:30
11/17/18
16:30
Conference/Events
pdvWireless management to meet with Morgan Stanley »

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CBS

CBS

$57.49

0.23 (0.40%)

16:28
11/17/18
11/17
16:28
11/17/18
16:28
Conference/Events
CBS management to meet with Morgan Stanley »

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    Nov

THS

TreeHouse

$51.92

0.72 (1.41%)

, CAG

Conagra Brands

$33.09

0.66 (2.04%)

12:54
11/17/18
11/17
12:54
11/17/18
12:54
Periodicals
Treehouse Foods stock may have room to gain, Barron's says »

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THS

TreeHouse

$51.92

0.72 (1.41%)

CAG

Conagra Brands

$33.09

0.66 (2.04%)

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AMGN

Amgen

$194.23

1.83 (0.95%)

12:51
11/17/18
11/17
12:51
11/17/18
12:51
Periodicals
Amgen may be 'a remedy' for tougher times, Barron's says »

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AAPL

Apple

$193.42

2 (1.04%)

, LITE

Lumentum

$41.50

0.46 (1.12%)

12:47
11/17/18
11/17
12:47
11/17/18
12:47
Periodicals
Apple stock could continue to slide, Barron's says »

Apple's (AAPL) stock…

AAPL

Apple

$193.42

2 (1.04%)

LITE

Lumentum

$41.50

0.46 (1.12%)

QRVO

Qorvo

$66.32

1.18 (1.81%)

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APC

Anadarko

$56.39

0.9 (1.62%)

, RDS.B

Royal Dutch Shell

$63.97

0.19 (0.30%)

12:41
11/17/18
11/17
12:41
11/17/18
12:41
Periodicals
Investors may find bargains among oil, natural gas stocks, Barron's says »

Investors have been…

APC

Anadarko

$56.39

0.9 (1.62%)

RDS.B

Royal Dutch Shell

$63.97

0.19 (0.30%)

RDS.A

Royal Dutch Shell

$62.02

0.34 (0.55%)

XOM

Exxon Mobil

$78.99

0.81 (1.04%)

CVX

Chevron

$119.14

2.18 (1.86%)

BP

BP

$40.85

-0.3 (-0.73%)

EOG

EOG Resources

$105.21

3.57 (3.51%)

OXY

Occidental Petroleum

$73.32

0.71 (0.98%)

COG

Cabot Oil & Gas

$25.73

0.09 (0.35%)

EQT

EQT Corporation

$16.62

-0.55 (-3.20%)

HAL

Halliburton

$32.46

0.02 (0.06%)

SLB

Schlumberger

$48.24

0.17 (0.35%)

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LB

L Brands

$35.28

-0.41 (-1.15%)

, JCP

J.C. Penney

$1.29

-0.08 (-5.84%)

12:34
11/17/18
11/17
12:34
11/17/18
12:34
Periodicals
Kohl's, Target set to thrive this holiday season, Barron's says »

Store chains have been…

LB

L Brands

$35.28

-0.41 (-1.15%)

JCP

J.C. Penney

$1.29

-0.08 (-5.84%)

TJX

TJX

$51.47

-0.98 (-1.87%)

BBY

Best Buy

$66.41

-1.34 (-1.98%)

TIF

Tiffany

$106.48

0.52 (0.49%)

HD

Home Depot

$177.11

-0.25 (-0.14%)

TGT

Target

$79.67

-1.09 (-1.35%)

KSS

Kohl's

$72.48

-0.7 (-0.96%)

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

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T

AT&T

$30.30

0.18 (0.60%)

, FOX

21st Century Fox

$47.73

-0.1 (-0.21%)

09:18
11/17/18
11/17
09:18
11/17/18
09:18
OnTheFly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

T

AT&T

$30.30

0.18 (0.60%)

FOX

21st Century Fox

$47.73

-0.1 (-0.21%)

FOXA

21st Century Fox

$48.18

-0.11 (-0.23%)

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

CMCSA

Comcast

$38.60

0.11 (0.29%)

CMCSK

Comcast

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.46

-0.12 (-0.72%)

F

Ford

$9.05

-0.26 (-2.79%)

GM

General Motors

$35.76

0.21 (0.59%)

HMC

Honda

$28.21

0.01 (0.04%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$116.87

-0.02 (-0.02%)

VLKAY

Volkswagen

$0.00

(0.00%)

NYT

New York Times

$26.30

-0.2 (-0.75%)

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NVS

Novartis

$87.74

0.52 (0.60%)

, DBVT

DBV Technologies

$16.70

0.31 (1.89%)

04:55
11/17/18
11/17
04:55
11/17/18
04:55
Conference/Events
American College of Allergy, Asthma & Immunology to hold a meeting »

2018 ACAAI Meeting will…

NVS

Novartis

$87.74

0.52 (0.60%)

DBVT

DBV Technologies

$16.70

0.31 (1.89%)

REGN

Regeneron

$345.10

3.56 (1.04%)

SHPG

Shire

$175.59

-3.39 (-1.89%)

TEVA

Teva

$22.25

-0.37 (-1.64%)

SNY

Sanofi

$45.11

0.56 (1.26%)

GSK

GlaxoSmithKline

$40.35

-0.06 (-0.15%)

AZN

AstraZeneca

$40.67

-0.685 (-1.66%)

CHD

Church & Dwight

$65.42

-0.39 (-0.59%)

BSX

Boston Scientific

$37.22

0.75 (2.06%)

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MSI

Motorola Solutions

$129.97

0.72 (0.56%)

18:48
11/16/18
11/16
18:48
11/16/18
18:48
Hot Stocks
Motorola Solutions: ITC confirms Hytera products infringe Motorola patents »

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PCG

PG&E

$24.39

6.62 (37.25%)

18:23
11/16/18
11/16
18:23
11/16/18
18:23
Periodicals
CPUC isn't ruling out board shuffle, breakup for PG&E, Bloomberg says »

The California Public…

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ABX

Barrick Gold

$13.04

0.05 (0.38%)

18:00
11/16/18
11/16
18:00
11/16/18
18:00
Periodicals
Barrick Gold looking to add more copper, bullion assets, Reuters reports »

Barrick Gold is…

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WTR

Aqua America

$33.05

0.165 (0.50%)

17:57
11/16/18
11/16
17:57
11/16/18
17:57
Hot Stocks
Aqua America CEO acquires over 25,000 common shares »

In a regulatory filing,…

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XLRE

Real Estate SPDR

$33.45

0.445 (1.35%)

, XLB

S&P Select Materials SPDR

$55.23

0.53 (0.97%)

17:39
11/16/18
11/16
17:39
11/16/18
17:39
General news
Week ending ETF scorecard: Real Estate leads, Consumer Discretionary slumps »

S&P500 SECTORS: Real…

XLRE

Real Estate SPDR

$33.45

0.445 (1.35%)

XLB

S&P Select Materials SPDR

$55.23

0.53 (0.97%)

XLU

Utilities SPDR

$54.86

0.77 (1.42%)

XLI

Industrial Select Sector SPDR

$72.00

(0.00%)

XLV

Health Care Select Sector SPDR

$92.05

0.91 (1.00%)

XLF

Financial Select Sector

$26.78

0.03 (0.11%)

XLP

Consumer Staples Sector SPDR

$56.04

0.15 (0.27%)

XLE

Energy Select Sector SPDR

$67.23

0.76 (1.14%)

XLC

Communication Services Select Sector SPDR Fund

$44.88

-0.2 (-0.44%)

XLK

Technology Select Sector SPDR

$68.22

-0.1 (-0.15%)

XLY

Consumer Discretionary Sector SPDR

$106.37

-0.43 (-0.40%)

GLD

SPDR Gold Shares

$115.56

0.82 (0.71%)

SLV

iShares Silver Trust

$13.55

0.115 (0.86%)

USO

United States Oil Fund

$12.07

0.08 (0.67%)

UNG

United States Natural Gas Fund

$35.43

3.63 (11.42%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$83.24

-0.27 (-0.32%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$111.73

0.23 (0.21%)

TLT

iShares 20+ Year Treasury Bond Fund

$114.65

0.61 (0.53%)

IEF

iShares 7-10 Year Treasury Bond ETF

$101.13

0.3 (0.30%)

SHY

iShares 1-3 Year Treasury Bond

$83.13

0.08 (0.10%)

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AQST

Aquestive Therapeutics

$17.02

0.23 (1.37%)

17:36
11/16/18
11/16
17:36
11/16/18
17:36
Hot Stocks
Aquestive receives CRL from FDA for tadalafil oral film »

Aquestive Therapeutics…

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  • 19

    Jan

DAKT

Daktronics

$7.67

0.07 (0.92%)

17:35
11/16/18
11/16
17:35
11/16/18
17:35
Hot Stocks
Daktronics adopts new shareholder rights agreement »

Daktronics announced that…

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  • 21

    Nov

TI

Telecom Italia

$6.02

0.12 (2.03%)

17:33
11/16/18
11/16
17:33
11/16/18
17:33
Periodicals
Gubitosi viewed as frontrunner for Telecom Italia CEO job, Reuters says »

Veteran Italian manager…

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MAXR

Maxar Technologies

$18.77

-0.59 (-3.05%)

17:30
11/16/18
11/16
17:30
11/16/18
17:30
Hot Stocks
Maxar Technologies shareholders approve U.S. domestication »

Maxar Technologies…

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PLUG

Plug Power

$1.83

(0.00%)

17:28
11/16/18
11/16
17:28
11/16/18
17:28
Syndicate
Breaking Syndicate news story on Plug Power »

Plug Power files to sell…

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GSB

GlobalSCAPE

$4.55

-0.02 (-0.44%)

17:22
11/16/18
11/16
17:22
11/16/18
17:22
Syndicate
Breaking Syndicate news story on GlobalSCAPE »

GlobalSCAPE files to sell…

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EQIX

Equinix

$388.18

2.67 (0.69%)

17:19
11/16/18
11/16
17:19
11/16/18
17:19
Hot Stocks
Equinix's Lee sells 2,792 common shares »

In a regulatory filing,…

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LMT

Lockheed Martin

$301.06

-4.42 (-1.45%)

17:17
11/16/18
11/16
17:17
11/16/18
17:17
Hot Stocks
Lockheed Martin awarded $282.09M Naval Sea Systems Command contract »

Lockheed Martin has been…

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