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GPS

Gap

$30.42

0.03 (0.10%)

, CBS

CBS

$54.33

0.68 (1.27%)

10:39
05/15/18
05/15
10:39
05/15/18
10:39

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Gap (GPS) upgraded to Outperform from Market Perform at Telsey Advisory. 2. CBS (CBS) upgraded to Outperform from Market Perform at Bernstein with the firm saying it views the probability of a CBS-Viacom (VIAB) re-merger as close to zero, for many years to come. 3. Ulta Beauty (ULTA) upgraded to Outperform from Perform at Oppenheimer with analyst Rupesh Parikh saying he still sees the potential for more gains and outperformance from current levels. 4. Valeant (VRX) upgraded to Buy from Neutral at Mizuho with analyst Irina Koffler saying adjusting individual product growth estimates has made her more constructive on Valeant's turnaround story. 5. Scotts Miracle-Gro (SMG) upgraded to Buy from Hold at SunTrust with analyst William Chappell saying he believes the bottom in the stock price has been reached, leading to its usual "counter seasonal trend of outperformance" given that the stock has outperformed the S&P500 from June to January in the past 11 of 15 years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

GPS

Gap

$30.42

0.03 (0.10%)

CBS

CBS

$54.33

0.68 (1.27%)

ULTA

Ulta Beauty

$249.27

2.2 (0.89%)

VRX

Ticker changed BHC

$21.75

0.95 (4.57%)

SMG

Scotts Miracle-Gro

$83.78

2.07 (2.53%)

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    Aug

GPS Gap
$30.42

0.03 (0.10%)

03/02/18
MKMP
03/02/18
NO CHANGE
Target $35
MKMP
Neutral
Gap price target raised to $35 from $27 at MKM Partners
MKM Partners analyst Roxanne Meyer raised her price target on Gap to $35 after the company's Q4 results showed better than expected comps and a "significantly higher gross margin increase". Meyer adds that the comps at each segment accelerated on a 2-year stock, while traffic trends were also improved. The analyst keeps her Neutral rating on the stock, preferring to wait for better visibility that the strength of Old Navy and the shift toward higher performing concepts will "unlock earnings power" this year.
03/12/18
FBCO
03/12/18
INITIATION
Target $35
FBCO
Neutral
Gap initiated with a Neutral at Credit Suisse
Credit Suisse initiated Gap with a Neutral and $35 price target.
03/09/18
OPCO
03/09/18
NO CHANGE
Target $33
OPCO
Perform
Gap price target raised to $33 from $30 at Oppenheimer as firm stays sidelined
Oppenheimer analyst Anna Andreeva raised her price target on Gap to $33 from $30, telling investors in a research note that she is staying "sidelined" on Gap and expects a "skewed recovery" in the business in the second half of 2018. Andreeva, who has a Perform rating on Gap, said despite "impressive" momentum at Old Navy, she expects challenges at the Gap division to continue and sees pressures from promotions and inventory imbalance through the first half of the year. In order for shares to "work," the analyst said an inflection at Gap and Banana Republic is necessary, but doesn't see this happening until the second half "at the earliest."
05/15/18
TLSY
05/15/18
UPGRADE
TLSY
Outperform
Gap upgraded to Outperform from Market Perform at Telsey Advisory
CBS CBS
$54.33

0.68 (1.27%)

05/15/18
BERN
05/15/18
UPGRADE
BERN
Outperform
CBS upgraded to Outperform from Market Perform at Bernstein
05/07/18
SPHN
05/07/18
NO CHANGE
Target $58
SPHN
Equal Weight
CBS-Viacom deal could work at Class B shareholders' expense, says Stephens
Stifel analyst Kyle Evans contends that CBS (CBS) posted the kind of quarter that should fundamentally separate the company from many media peers. However, he said there is no more clarity following its report on whether its Class A shareholders will push for a combination with Viacom (VIAB) that "undermines Class B holders." Evans lowered his price target on CBS to $58 from $64 and maintains an Equal Weight rating on the stock.
05/15/18
05/15/18
UPGRADE
Target $65

Outperform
CBS upgraded to Outperform at Bernstein
As previously reported, Bernstein upgraded CBS (CBS) to Outperform from Market Perform, with a $65 price target, as it views the probability of a CBS-Viacom (VIAB) re-merger as close to zero, for many years to come. While the firm remains very concerned about the health of TV networks, generally, and has plenty of specific concerns about CBS, it believes that as a stand-alone entity it has the cleanest story in all of media. Bernstein reiterates an Underperform rating on Viacom.
05/15/18
SBSH
05/15/18
NO CHANGE
Target $66
SBSH
Buy
Citi drops likelihood of CBS-Viacom merger to 25% from 50%
Citi analyst Jason Bazinet dropped his likelihood of a CBS (CBS), Viacom (VIAB) merger to 25% from 50% after CBS filed a Delaware lawsuit asking for a restraining order to prevent Shari Redstone from interfering with a special CBS board meeting. The analyst now sees a lower chance of CBS acquiring Viacom. As such, he increased his price target for CBS shares to $66 from $61 and lowered his price target for Viacom shares to $29 from $30.
ULTA Ulta Beauty
$249.27

2.2 (0.89%)

05/15/18
OPCO
05/15/18
UPGRADE
OPCO
Outperform
Ulta Beauty upgraded to Outperform from Perform at Oppenheimer
05/07/18
DBAB
05/07/18
NO CHANGE
Target $244
DBAB
Hold
Amazon now sells 94% of Ulta's best sellers, says Deutsche Bank
Deutsche Bank analyst Mike Baker raised his price target for Ulta Beauty (ULTA) to $244 from $215 but keeps a Hold rating on the shares. The analyst says his Ulta/Amazon (AMZN) product overlap analysis continues to show "some concerning trends" for Ulta. Product overlap increased to 94% of Ulta best sellers, up from 91% in January, Baker tells investors in a research note.
05/02/18
05/02/18
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. Cummins (CMI) downgraded to Sell from Neutral at UBS, to Neutral from Buy at Buckingham, and to Market Perform from Outperform at Wells Fargo. 2. Match Group (MTCH) downgraded to In Line from Outperform at Evercore ISI with analyst Anthony DiClemente citing Facebook's (FB) announcement of a new dating feature at the F8 developer conference. Match was also downgraded to Hold from Buy at Jefferies. 3. Snap (SNAP) downgraded to Sell from Hold at Summit Insights, to Perform from Outperform at Oppenheimer, and to Underperform from In Line at Evercore ISI. 4. 1-800-Flowers.com (FLWS) downgraded to Hold from Buy at Noble Financial. 5. Ulta Beauty (ULTA) downgraded to Hold from Buy at Loop Capital with analyst Anthony Chukumba saying the rating change is due mainly to valuation rather than a more negative view on the company's fundamentals, adding that the stock price has already advanced about 12% year-to-date even though a "myriad of drivers" remain for Ulta Beauty to add to its comps gains. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/15/18
05/15/18
UPGRADE
Target $280

Outperform
Ulta Beauty upgraded to Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Rupesh Parikh upgraded Ulta Beauty to Outperform from Perform as he still sees the potential for more gains and outperformance from current levels. As he looks at the setup, the analyst believes the elements for a continued move higher are in place, driven by his expectations for stabilizing/improving comp growth, easier comparisons, and the potential for management initiatives to drive strong underlying EPS growth. Parikh also raised his price target on the shares to $280 from $220.
VRX Ticker changed BHC
$21.75

0.95 (4.57%)

05/15/18
MZHO
05/15/18
UPGRADE
MZHO
Buy
Valeant upgraded to Buy from Neutral at Mizuho
05/14/18
BMOC
05/14/18
NO CHANGE
Target $20
BMOC
Market Perform
Valeant price target raised to $20 from $17 at BMO Capital
BMO Capital analyst Gary Nachman raised his price target on Valeant to $20, saying the company's "impressive" Q1 results demonstrate "good returns" on some of its strategic investments. Nachman also raised his FY18 EPS target to $3.42 from $3.12 to reflect the company's raised FY18 guidance. The analyst keeps his Market Perform rating amid continued uncertainty about sustainability of certain revenue drivers and potential contribution from its "key new product launches".
05/11/18
BMOC
05/11/18
NO CHANGE
BMOC
Valeant price target raised to $20 from $17 at BMO Capital
BMO Capital analyst Gary Nachman raised his price target on Valeant to $20 from $17 and raised his EPS, EBITDA, and revenue estimates on the stock after Valeant reported "solid" Q1 earnings that beat BMO and consensus estimates, as well as raising its FY18 EBITDA and revenue guidance. Nachman maintained a Market Perform rating on Valeant shares although there "are still some questions about sustainability of certain revenue drivers and potential contribution from key new product launches."
05/15/18
MZHO
05/15/18
UPGRADE
Target $27
MZHO
Buy
Mizuho compares Valeant portfolio to Mylan in upgrade to Buy
Mizuho analyst Irina Koffler upgraded Valeant Pharmaceuticals (VRX) to Buy from Neutral and raised her price target for the shares to $27 from $15. The stock closed yesterday down 4c to $20.81. Adjusting individual product growth estimates has made the analyst more constructive on Valeant's turnaround story. The company's portfolio now looks Mylan-like (MYL) in that 70% of revenue consists of stable products that are either consumer-focused, or older drugs that are already generic, Koffler tells investors in a research note. Further, the analyst sees growth potential from Valeant's pipeline, which she notes contains multiple catalysts in 2018-2020 and is not in her estimates. She thinks that in order for the stock to work over the next year, Valeant just needs to execute on its quarters and push through new product launches.
SMG Scotts Miracle-Gro
$83.78

2.07 (2.53%)

05/02/18
05/02/18
DOWNGRADE

Underperform
Scotts Miracle-Gro double downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill double downgraded Scotts Miracle-Gro to Underperform from Buy and cut its price target to $80 from $100. Analyst Christopher Carey said its harder to justify Scotts' premium valuation as multiples compress across the Staples sector. The analyst also sees risk to consensus estimates due to external headwinds and lack of catalysts for valuation improvement with M&A behind it and low visibility into a turnaround at Hawthorne.
05/02/18
BOFA
05/02/18
DOWNGRADE
BOFA
Underperform
Scotts Miracle-Gro downgraded to Underperform from Buy at BofA/Merrill
05/15/18
RHCO
05/15/18
UPGRADE
Target $100
RHCO
Buy
Scotts Miracle-Gro upgraded to Buy at SunTrust on valuation, earnings potential
As reported earlier, SunTrust analyst William Chappell upgraded Scotts Miracle-Gro to Buy from Hold and raised his price target to $100 from $80. The analyst believes the bottom in the stock price has been reached, leading to its usual "counter seasonal trend of outperformance" given that the stock has outperformed the S&P500 from June to January in the past 11 of 15 years. Chappell also believes investors may reward the stock as a "call option on cannabis legalization trend".
05/15/18
RHCO
05/15/18
UPGRADE
RHCO
Buy
Scotts Miracle-Gro upgraded to Buy from Hold at SunTrust

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Mazor Robotics

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$97.47

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ACAD

Acadia

$19.08

3.97 (26.27%)

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Acadia

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Southern National Bancorp

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TSLA

Tesla

$298.32

-0.63 (-0.21%)

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Tesla VP of global supply management O'Connor to leave company, Bloomberg says »

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CRBP

Corbus Pharmaceuticals

$7.90

2.75 (53.40%)

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MCD

McDonald's

$160.84

1.65 (1.04%)

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McDonald's

$160.84

1.65 (1.04%)

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Tetraphase

$3.16

0.14 (4.64%)

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Smart Global

$30.44

0.7 (2.35%)

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PIR

Pier 1 Imports

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MU

Micron

$46.06

1.01 (2.24%)

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ACXM

Acxiom

$50.28

2.09 (4.34%)

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$22.68

0.315 (1.41%)

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Interpublic Group

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IPCI

Intellipharmaceutics

$2.92

0.15 (5.42%)

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NOC

Northrop Grumman

$301.53

-10.71 (-3.43%)

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YUM

Yum! Brands

$88.96

0.39 (0.44%)

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FSCT

ForeScout

$39.56

1.2 (3.13%)

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MU

Micron

$46.06

1.01 (2.24%)

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Micron says it is seeing CPU shortage »

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