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SPOT

Spotify

$157.84

-3.51 (-2.18%)

, GOOG

Alphabet

$1,083.75

1.75 (0.16%)

10:41
05/17/18
05/17
10:41
05/17/18
10:41

Spotify still 'best in class' despite YouTube Music launch, says Buckingham

Buckingham analyst Matthew Harrigan said he is sticking with his $175 price target on shares of Spotify (SPOT) despite last night's confirmation from Google (GOOGL) that YouTube Music will launch next Tuesday, May 22. While music streaming has become a crowded market, its "breakout growth" can support multiple players and Harrigan still feels Spotify retains immediate advantages around its brand resonance and music-oriented AI data, he tells investors. Harrigan keeps a Neutral rating on Spotify shares.

SPOT

Spotify

$157.84

-3.51 (-2.18%)

GOOG

Alphabet

$1,083.75

1.75 (0.16%)

GOOGL

Alphabet Class A

$1,088.92

4.89 (0.45%)

  • 03

    Jun

SPOT Spotify
$157.84

-3.51 (-2.18%)

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.
05/15/18
05/15/18
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. 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.
05/16/18
WELS
05/16/18
INITIATION
Target $150
WELS
Market Perform
Spotify initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Peter Stabler started Spotify with a Market Perform rating and $150 price target. While the analyst notes the company's strong product and brand positioning in the online music streaming category, his concerns around valuation, competition, churn, and growth prospects keep him on the sidelines.
05/16/18
05/16/18
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. Ulta Beauty (ULTA) initiated with a Buy at UBS. 2. uniQure (QURE) initiated with an Outperform at Wells Fargo. 3. Micron (MU) initiated with an Outperform at RBC Capital. 4. Spotify (SPOT) initiated with a Market Perform at Wells Fargo. 5. Tocagen (TOCA) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
GOOG Alphabet
$1,083.75

1.75 (0.16%)

05/09/18
JPMS
05/09/18
NO CHANGE
JPMS
Overweight
Broadcom co-designed Google's third generation AI processor, says JPMorgan
Google (GOOG, GOOGL) yesterday as its developer conference introduced its third generation deep learning/artificial intelligence processor chip called the Cloud Tensor Processor Unit, JPMorgan analyst Harlan Sur tells investors in a research note. The analyst believes the TPU3 chip was co-designed by Broadcom (AVGO). Further, and just as important, Sur believes Broadcom has won, and is already working with Google on its fourth generation TPU4 processor chip using 7nm manufacturing technology. Broadcom remains the analyst's top pick in semiconductors. He reiterates an Overweight rating on the shares.
05/10/18
MSCO
05/10/18
NO CHANGE
Target $93
MSCO
Equal Weight
Walmart deal for Flipkart more dilutive than anticipated, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman noted that news reports heading up to Walmart's (WMT) deal for a majority stake in Flipkart had predicted a $12B transaction for about 60% of a business generating operating losses in the $1B range. However, the higher than expected magnitude of losses Walmart would absorb in India significantly raises the stakes on the trajectory of its U.S. business and clouds the near-term path, he said. He also questions why the company is investing outside the U.S. market, stating that it could have instead accelerated its third-party marketplace infrastructure, stepped up its partnership with Google Home (GOOG) to better compete with Amazon's (AMZN) Alexa, or intensified domestic investments in price and fulfillment. However, he does add that the deal prevents Amazon, for now, from building an "insurmountable" advantage in the important Indian market. Gutman lowered his price target on Walmart to $93 from $99 after the deal was more dilutive than anticipated and keeps an Equal Weight rating on the shares.
05/16/18
KEYB
05/16/18
NO CHANGE
Target $50
KEYB
Overweight
KeyBanc remains a buyer of Criteo
KeyBanc analyst Andy Hargreaves remains a buyer of Criteo (CRTO), reiterating an Overweight rating and $50 price target on the shares. The analyst says that the potential for a decline in consumer consent rates is the biggest risk to Criteo from GDPR. Along these lines, publishers that opt to outsource consent management to Google (GOOG; GOOGL), which may require explicit consent, could see a material change in consent rates, he contends. While this could create a headwind to Criteo's revenue growth, Hargreaves believes exposure is modest and built into current expectations.
05/17/18
DBAB
05/17/18
NO CHANGE
DBAB
Buy
Google changes unlikely to impact Dropbox, says Deutsche Bank
Dropbox (DBX) rival Google (GOOG, GOOGL) this week announced some changes to its consumer-based cloud storage service, Deutsche Bank analyst Karl Keirstead tells investors in a research note. The analyst notes that Google is moving all paid Google Drive consumer subscribers to a newly named Google One service, which includes added storage capacity options, "expert assistance" and the ability to add family members. Google also cut the price of its 2TB capacity plan in half, to $10 from $20 per month, Keirstead adds. He does not see these changes materially impacting Dropbox and keeps a Buy rating on the shares.
GOOGL Alphabet Class A
$1,088.92

4.89 (0.45%)

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JNUG

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DUST

Direxion Daily Gold Miners Bear 3X ETF

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JDST

Direxion Daily Junior Gold Miners Index Bear 3x Shares

$47.36

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FB

Facebook

$185.96

-0.94 (-0.50%)

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VXX

iPath S&P 500 VIX Short-Term Futures

$33.82

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CNI

Canadian National

$83.75

-0.4 (-0.48%)

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  • 30

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ARLP

Alliance Resource Partners

$18.25

-0.45 (-2.41%)

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SPLK

Splunk

$116.35

-0.2 (-0.17%)

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TVIX

VelocityShares Daily 2x VIX Short-Term ETN

$4.74

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SVXY

ProShares Short VIX Short-Term Futures

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USO

United States Oil Fund

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XOP

SPDR Oil Exploration and Production Fund

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

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BKE

The Buckle

$25.75

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UGAZ

VelocityShares 3x Long Natural Gas ETN

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FQVLF

First Quantum Minerals

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