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VZ

Verizon

$47.92

-0.57 (-1.18%)

, FOXA

21st Century Fox

$37.85

0.08 (0.21%)

10:47
05/15/18
05/15
10:47
05/15/18
10:47

Verizon CEO says 'no interest' in buying a content company

Verizon has "looked at" legacy media assets but its focus is on digital, Lowell McAdam stated during an interview with CNBC's David Faber. Prior reports have indicated that Verizon (VZ) may have expressed interest in Fox (FOXA) and CBS (CBS).

VZ

Verizon

$47.92

-0.57 (-1.18%)

FOXA

21st Century Fox

$37.85

0.08 (0.21%)

FOX

21st Century Fox

$37.38

0.1 (0.27%)

CBS

CBS

$54.37

0.72 (1.34%)

  • 15

    May

  • 15

    May

  • 18

    May

VZ Verizon
$47.92

-0.57 (-1.18%)

05/11/18
05/11/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Verizon (VZ) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying after a meeting with CEO Lowell McAdam, he has a better understanding that Verizon's "organic approach to wireless has the company on an increasingly stable footing." 2. Mosaic (MOS) upgraded to Outperform from Sector Perform at RBC Capital with analyst Andrew Wong saying that it is "hard to ignore the improving undercurrents in both phosphate and potash markets." 3. Ultragenyx (RARE) upgraded to Overweight from Equal Weight at Barclays with analyst Gena Wang saying she thinks a higher price target for Crysvita could drive upside to revenue growth expectations. 4. U.S. Bancorp (USB) upgraded to Buy from Neutral at Citi with analyst Keith Horowitz saying now is an opportune time to build positions in the stock after three years of significant underperformance. 5. AMC Networks (AMCX) upgraded to Buy from Hold at Gabelli with the firm saying it remains an excelling company with opportunities to leverage its recent programming momentum into increased advertising and affiliate fees. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/11/18
JPMS
05/11/18
UPGRADE
Target $58
JPMS
Overweight
After meeting with CEO, JPMorgan upgrades Verizon to Overweight
JPMorgan analyst Philip Cusick upgraded Verizon Communications to Overweight from Neutral with an unchanged price target of $58. The shares closed yesterday up 81c to $47.20. After meeting with CEO Lowell McAdam, Cusick says he has a better understanding that Verizon's "organic approach to wireless has the company on an increasingly stable footing." Further, the analyst believes Verizon's 5G opportunity "will start to crystallize in the next few months." Cusick expects the company's revenue to stabilize and notes the stock is down 11% this year. The analyst is positive on the 5% dividend yield and "free 5G optionality."
05/11/18
JPMS
05/11/18
UPGRADE
Target $58
JPMS
Overweight
Verizon upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick upgraded Verizon Communications to Overweight with a $58 price target. The shares at current levels offer a 5% yield and a "free option" on 5G, Cusick tells investors in a research note.
04/30/18
MSCO
04/30/18
NO CHANGE
MSCO
Morgan Stanley discusses T-Mobile deal implications for competitors, towers
After T-Mobile (TMUS) and Sprint (S) announced a merger agreement, Morgan Stanley analyst Simon Flannery said that while the $43B in estimated synergies is "impressive," the key question is how likely is it that the companies can gain regulatory approval. On competition, he thinks the deal may contribute to a more benign competitive environment in the near-term and that AT&T (T) and Verizon (VZ) could benefit from market consolidation, though he adds that the new T-Mobile would be a formidable competitor in new areas such as 5G and fixed broadband. Flannery added that the deal will be an overhang on tower and fiber providers, noting that part of their $4B in annual network synergies involves a reduction in tower counts from 110,000 to 85,000 over time. However, the analyst said he would expect much more gear to be deployed on each tower and small cells will still expand to 50,000 from 10,000. Tower operators include American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC), which are all lower in pre-market trading.
FOXA 21st Century Fox
$37.85

0.08 (0.21%)

03/15/18
LOOP
03/15/18
INITIATION
Target $43
LOOP
Buy
21st Century Fox initiated with a Buy at Loop Capital
Loop Capital analyst Alan Gould started 21st Century Fox (FOXA) with a Buy rating and $43 price target. The analyst believes the company is set up as the "ideal acquisition target for either Disney (DIS) or Comcast (CMCSA) as they evolve their video businesses into a global, direct-to-consumer streaming service."
03/15/18
LOOP
03/15/18
INITIATION
Target $130
LOOP
Buy
Disney initiated with a Buy at Loop Capital
Loop Capital analyst Alan Gould started Disney (DIS) with a Buy rating and $130 price target. The analyst views the Disney/21st Century Fox (FOXA) deal as a "win/win," positioning Disney to be a more competitive player in the global streaming business.
05/01/18
MSCO
05/01/18
NO CHANGE
Target $130
MSCO
Overweight
Disney trades at 'historic discount' while building out OTT, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne believes Disney's (DIS) new segment presentation could benefit shares by highlighting Disney's Over-the-top, or OTT, opportunity and providing visibility into the earnings power of its core businesses. If Fox (FOXA) is included and Hulu is consolidated, Swinburne estimates Disney's OTT and Direct-to-consumer businesses grow to roughly $6.5B in gross annual revenues by FY20, while noting that the stock is currently trading at a historical discount to the S&P 500. He maintains an Overweight rating and $130 price target on Disney shares.
05/10/18
OPCO
05/10/18
NO CHANGE
Target $42
OPCO
Outperform
Comcast acquisition of Fox would make strategic, financial sense, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that press reports stated Comcast (CMCSA) has lined up $60B in financing to make an all-cash offer for Fox's (FOXA) entertainment assets, representing a 15% premium to Disney's (DIS) offer. While he thinks this has caused half the 30% decline in Comcast's stock year to date, the analyst believes it does make strategic and financial sense, and Comcast has a great track record on acquisitions. Horan thinks a joint NBC/Fox is a content powerhouse while expanding the company's presence in Europe through Sky (SKYAY), and slashing OTT video risk. The analyst reiterates an Outperform rating and $42 price target on Comcast's shares.
FOX 21st Century Fox
$37.38

0.1 (0.27%)

03/14/18
MACQ
03/14/18
UPGRADE
MACQ
Outperform
Sky upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Guy Peddy upgraded Sky (SKYAY) to Outperform from Neutral after he raised his FY19/20 and FY20/21 EPS by about 16% due to the lower EPL costs. His valuation analysis suggests the current 1075p offer from 21st Century Fox (FOXA) "materially undervalues" Sky and even Comcast's (CMCSA) indicative offer at 1250p "fractionally undervalues" it, Peddy tells investors. What happens next is up to Comcast and Disney (DIS), as Fox is just an intermediary, he added. Peddy raised his price target on Sky shares to 1450p, as he believes tension between those two could lift the offer price at least 10% above his fair value estimate of 1287p.
03/07/18
WELS
03/07/18
NO CHANGE
WELS
Wells Fargo expects bidding war for Sky
Wells Fargo analyst Marci Ryvicker expects a bidding war for Sky (SKYAY). The analyst believes Sky appears to be more accretive to Disney (DIS)-Fox (FOXA) but more strategic for Comcast (CMCSA; CMCSK). Ultimately, Ryvicker thinks the latter with win but not without a fight from Disney/Fox.
CBS CBS
$54.37

0.72 (1.34%)

05/15/18
05/15/18
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. 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.
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.
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
BERN
05/15/18
UPGRADE
BERN
Outperform
CBS upgraded to Outperform from Market Perform at Bernstein

TODAY'S FREE FLY STORIES

GLPEY

Galp Energia

$0.00

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HSDT

Helius Medical

$9.63

-0.19 (-1.93%)

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OMVKY

OMV AG

$0.00

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PRU

Prudential

$100.22

1.23 (1.24%)

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REPYY

Repsol

$0.00

(0.00%)

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STOR

Store Capital

$28.24

-0.31 (-1.09%)

07:05
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07:05
Initiation
Store Capital initiated  »

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HYGS

Hydrogenics

$6.15

0.05 (0.82%)

07:05
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TPX

Tempur Sealy

$55.12

1.16 (2.15%)

, SNBR

Sleep Number

$37.25

0.44 (1.20%)

07:03
09/19/18
09/19
07:03
09/19/18
07:03
Recommendations
Tempur Sealy, Sleep Number, Purple, Taken private analyst commentary  »

Antidumping petition…

TPX

Tempur Sealy

$55.12

1.16 (2.15%)

SNBR

Sleep Number

$37.25

0.44 (1.20%)

PRPL

Purple

$5.49

0.08 (1.48%)

MFRM

Taken private

$0.00

(0.00%)

03/08/13
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UNM

Unum Group

$38.49

2.07 (5.68%)

07:03
09/19/18
09/19
07:03
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07:03
Hot Stocks
Unum Group selects Clearwater for investment accounting system solution »

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CSIQ

Canadian Solar

$14.89

0.24 (1.64%)

07:02
09/19/18
09/19
07:02
09/19/18
07:02
Hot Stocks
Canadian Solar to supply 164 MW of modules to project in Spain »

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VCRA

Vocera

$33.51

0.01 (0.03%)

07:02
09/19/18
09/19
07:02
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07:02
Initiation
Vocera initiated  »

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  • 27

    Nov

PAH

Platform Specialty Products

$12.80

0.01 (0.08%)

06:58
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06:58
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Platform Specialty Products rating change  »

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UNP

Union Pacific

$163.70

6.97 (4.45%)

, CNI

Canadian National

$87.47

-0.195 (-0.22%)

06:56
09/19/18
09/19
06:56
09/19/18
06:56
Recommendations
Union Pacific, Canadian National, Canadian Pacific, CSX analyst commentary  »

Union Pacific shares…

UNP

Union Pacific

$163.70

6.97 (4.45%)

CNI

Canadian National

$87.47

-0.195 (-0.22%)

CP

Canadian Pacific

$206.96

1.38 (0.67%)

CSX

CSX

$74.12

0.77 (1.05%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 06

    Nov

ROIC

Retail Opportunity

$18.87

-0.215 (-1.13%)

06:55
09/19/18
09/19
06:55
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06:55
Initiation
Retail Opportunity initiated  »

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  • 24

    Oct

AFIN

American Finance Trust

$17.52

0.53 (3.12%)

06:50
09/19/18
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06:50
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06:50
Initiation
American Finance Trust initiated  »

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SPWR

SunPower

$7.55

0.97 (14.74%)

, FSLR

First Solar

$49.56

1.81 (3.79%)

06:50
09/19/18
09/19
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06:50
Recommendations
SunPower, First Solar analyst commentary  »

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SPWR

SunPower

$7.55

0.97 (14.74%)

FSLR

First Solar

$49.56

1.81 (3.79%)

03/08/13
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AN

AutoNation

$43.09

-0.41 (-0.94%)

06:50
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Hot Stocks
AutoNation extends CEO Mike Jackson's contract »

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  • 06

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ZYME

Zymeworks

$14.40

0.035 (0.24%)

06:48
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06:48
Hot Stocks
Zymeworks names Anthony Polverino Chief Scientific Officer »

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SEDG

SolarEdge

$42.00

-0.05 (-0.12%)

06:45
09/19/18
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06:45
Recommendations
SolarEdge analyst commentary  »

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06:45
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06:45
General news
Breaking General news story  »

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IBKC

Iberiabank

$83.70

-0.5 (-0.59%)

06:44
09/19/18
09/19
06:44
09/19/18
06:44
Conference/Events
Iberiabank management to meet with Piper Jaffray »

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KBR

KBR

$20.19

0.37 (1.87%)

06:44
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06:44
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06:44
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AZO

AutoZone

$732.74

-14.79 (-1.98%)

06:41
09/19/18
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06:41
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  • 29

    Oct

BAYRY

Bayer

$0.00

(0.00%)

06:40
09/19/18
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06:40
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06:40
Periodicals
Bayer wants to overturn $289M in damages ordered in weed killer case, WSJ says »

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  • 20

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  • 29

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LYB

LyondellBasell

$102.16

-1.3 (-1.26%)

06:38
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09/19
06:38
09/19/18
06:38
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LyondellBasell rating change  »

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