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WTW

Weight Watchers

$78.61

-0.23 (-0.29%)

, SPOT

Spotify

$156.23

-3.625 (-2.27%)

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

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Weight Watchers (WTW) initiated with a Buy at SunTrust. 2. Spotify (SPOT) initiated with a Sell at Loop Capital. 3. Pivotal Software (PVTL) initiated with an Outperform at William Blair and Credit Suisse, an Overweight at Morgan Stanley and KeyBanc, a Buy at Goldman Sachs, an Equal Weight at Barclays, a Sector Perform at RBC Capital, as well as a Neutral at UBS, Citi, and BofA/Merrill. 4. Level One (LEVL) initiated with an Outperform at Raymond James, Keefe Bruyette, and a Neutral at Piper Jaffray. 5. GrafTech (EAF) initiated with a Buy at Citi and an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

WTW

Weight Watchers

$78.61

-0.23 (-0.29%)

SPOT

Spotify

$156.23

-3.625 (-2.27%)

PVTL

Pivotal Software

$19.51

0.62 (3.28%)

LEVL

Level One

$28.75

-0.17 (-0.59%)

EAF

GrafTech

$18.60

-0.26 (-1.38%)

  • 29

    May

  • 12

    Jun

WTW Weight Watchers
$78.61

-0.23 (-0.29%)

04/12/18
CHLM
04/12/18
NO CHANGE
Target $100
CHLM
Buy
Weight Watchers remains top pick with 'significant' upside potential, says Craig-Hallum
Craig-Hallum analyst Alex Fuhrman notes that since Weight Watchers' strong Q4 report, it appears that fundamentals have continued to be strong. Google searches for the Weight Watchers brand were up 5% year over year in March and 17% in the first week of April, he points out, adding that he expects searches for the brand to be strong throughout April given a new advertising campaign featuring Oprah and DJ Khaled which launched earlier this week and is incremental to last year. Fuhrman reiterates a Buy rating and $100 price target on the shares.
05/15/18
RHCO
05/15/18
INITIATION
Target $90
RHCO
Buy
Weight Watchers initiated with a Buy at SunTrust
SunTrust analyst Michael Swartz initiated Weight Watchers with a Buy rating and a price target of $90, saying the company's reach of over 30K weekly meetings and its "time-tested system" make its products "one of the first stops" for someone considering a structured weight loss program. The analyst also points to the recent CEO transition and a new "refreshed" business strategy, putting the company on a course that could yield an annual revenue growth of 14%-15% by 2020, with EBITDA margins reaching as high as 32% vs. 25% in 2017.
05/04/18
RILY
05/04/18
NO CHANGE
Target $103
RILY
Buy
Weight Watchers price target raised to $103 from $98 at B. Riley FBR
B. Riley FBR analyst Kara Anderson raised her price target for Weight Watchers to $103 and keeps a Buy rating on the shares following the company's Q1 results. Weight Watchers ended the quarter with a record 4.6M subscribers, achieving "impressive" worldwide growth, Anderson tells investors in a post-earnings research note.
04/18/18
CHLM
04/18/18
NO CHANGE
Target $100
CHLM
Buy
Craig-Hallum sees surging Google searches for Weight Watchers
According to Google Trends, Weight Watchers' Google searches for the last seven days available are up 39% year-over-year, Craig-Hallum analyst Alex Fuhrman tells investors in a research note. The analyst says this is the strongest growth for any seven day period all year. He believes the searches are likely to continue to gain strength given Weight Watchers' ongoing TV ad campaign. Fuhrman notes that the company did not air TV commercials in the first three weeks of April 2017. The analyst continues to see several catalysts for shares of Weight Watchers in 2018, including brand expansion from the FreshRealm partnership and benefits from giving free memberships to teens. Fuhrman reiterates a Buy rating on the stock with a $100 price target.
SPOT Spotify
$156.23

-3.625 (-2.27%)

05/03/18
RBCM
05/03/18
NO CHANGE
Target $210
RBCM
Outperform
Spotify price target lowered to $210 from $220 at RBC Capital
RBC Capital analyst Mark Mahaney lowered his price target on Spotify to $210 after its in-line Q1 results - the first reported quarter as a public company. The analyst says that while the monthly average user growth matched expectations, the premium Average Revenue Per User metric was slightly below forecasts, while the 14% annual decline was similar to that of the prior quarter. Mahaney keeps his Outperform rating on Spotify, noting that the company is a global leader in the streaming music trend.
05/03/18
STFL
05/03/18
NO CHANGE
Target $180
STFL
Buy
Spotify growth narrative intact, says Stifel
Stifel analyst John Egbert said Spotify's Q1 subscriber additions and revenue came in near the high-end of guidance and that its operating losses were not as bad as expected. In addition, its guidance for Q2 "reflected healthy trends across the business," he said. The analyst, who thinks the growth narrative remains intact for Spotify, maintains his Buy rating and $180 price target on the shares.
05/03/18
JPMS
05/03/18
NO CHANGE
Target $190
JPMS
Overweight
Spotify Q1 solid, but Street expected more, says JPMorgan
JPMorgan analyst Doug Anmuth says Spotify reported "solid" Q1 results but that the Street expected more upside in the company's first quarter as a public company. He believes management's guidance philosophy going forward is to deliver in the upper half of the range. Anmuth sees Spotify shares likely pulling back in the near term but notes his positive thesis is unchanged. The analyst keeps an Overweight rating on the stock with a $190 price target.
05/15/18
LOOP
05/15/18
INITIATION
Target $120
LOOP
Sell
Spotify initiated with a Sell at Loop Capital
Loop Capital analyst Alan Gould initiated Spotify (SPOT) with a Sell rating and a price target of $120, saying the company's comparison to Netflix (NFLX) based on its status of a streaming music leader is not justified. Gould states that Spotify does not have a similar competitive lead as Netflix does, adding that the "music oligopoly will make it difficult for music streaming to achieve the same margin as video". The analyst concludes that at 4.5-times projected sales, the multiple on Spotify is too high.
PVTL Pivotal Software
$19.51

0.62 (3.28%)

05/15/18
MSCO
05/15/18
INITIATION
Target $24
MSCO
Overweight
Pivotal Software initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Sanjit Singh initiated Pivotal Software with an Overweight rating and $24 price target, offering his view that Pivotal leads the market in transforming software development for businesses and he sees the potential for durable growth of over 35%.
05/15/18
FBCO
05/15/18
INITIATION
Target $22
FBCO
Outperform
Pivotal Software initiated with an Outperform at Credit Suisse
Credit Suisse analyst Brad Zelnick started Pivotal Software with an Outperform rating and $22 price target as he believes the company is poised to benefit from the unprecedented digital disruption currently faced by enterprises.
05/15/18
SBSH
05/15/18
INITIATION
Target $21
SBSH
Neutral
Pivotal Software initiated with a Neutral at Citi
Citi analyst Walter Pritchard started Pivotal Software with a Neutral rating and $21 price target. The analyst sees a large market opportunity in cloud native app development and hybrid cloud, but notes it remains "very early in its evolution." The combination of "lumpy" business trends, important products that are yet to be released, a need to build a broader services ecosystem balance this positive view of the market opportunity, Pritchard tells investors in a research note.
05/15/18
UBSW
05/15/18
INITIATION
Target $20
UBSW
Neutral
Pivotal Software initiated with a Neutral at UBS
UBS analyst Jennifer Swanson Lowe initiated Pivotal Software with a Neutral rating. The analyst said she likes the growth story, but the pace of adoption could be lumpy while the shares already trade in-line with peers. Lowe has a $20 price target on Pivotal Software shares.
LEVL Level One
$28.75

-0.17 (-0.59%)

05/15/18
RAJA
05/15/18
INITIATION
Target $32
RAJA
Outperform
Level One initiated with an Outperform at Raymond James
Raymond James initiated Level one with an Outperform and $32 price target.
05/15/18
KBWI
05/15/18
INITIATION
Target $34
KBWI
Outperform
Level One initiated with an Outperform at Keefe Bruyette
Keefe Bruyette started Level One Bancorp with an Outperform rating and $34 price target.
05/15/18
PIPR
05/15/18
INITIATION
Target $30
PIPR
Neutral
Level One initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Nathan Race started Level One Bancorp with a Neutral rating and $30 price target. The analyst says he'd become more constructive on the shares with greater visibility of excess capital deployment and core net interest margin expansion.
EAF GrafTech
$18.60

-0.26 (-1.38%)

05/15/18
SBSH
05/15/18
INITIATION
Target $22
SBSH
Buy
GrafTech initiated with a Buy at Citi
Citi analyst Alexander Hacking started GrafTech with a Buy rating and $22 price target. The company has contracted 70% of its volumes for the next five years locking in a minimum 12% free cash flow yield, Hacking tells investors in a research note.
05/14/18
SBSH
05/14/18
INITIATION
Target $22
SBSH
Buy
GrafTech initiated with a Buy at Citi
Citi analyst Alexander Hacking started GrafTech with a Buy rating and $22 price target.
05/15/18
BMOC
05/15/18
INITIATION
Target $25
BMOC
Outperform
GrafTech initiated with an Outperform at BMO Capital
BMO Capital analyst David Gagliano initiated GrafTech with an Outperform rating and a price target of $25. The analyst notes that as a producer of about 25% of the world's ultrahigh purity graphite electrodes, which are a "critical input for the production of electric arc furnace", the company offers exposure to strong industry fundamentals, increasingly important vertical integration, and an estimated $2.5B in free cash flows through 2020. Gagliano adds that the stock price could reach $30 per share if spot prices hold, which he sees as a "very real possibility".
05/14/18
05/14/18
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. General Electric (GE) initiated with a Buy at Gabelli. 2. Western Digital (WDC) initiated with an Overweight at JPMorgan. 3. GrafTech (EAF) initiated with an Overweight at JPMorgan and an Outperform at RBC Capital. 4. Surface Oncology (SURF) initiated with an Outperform at Evercore ISI and Cowen as well as a Neutral at Goldman Sachs. 5. BeiGene (BGNE) initiated with an Outperform at Credit Suisse. 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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PCG

PG&E

$44.67

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NDLS

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VIX

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