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WIN

Windstream

$1.49

(0.00%)

, AMZN

Amazon.com

$1,582.10

(0.00%)

09:25
05/23/18
05/23
09:25
05/23/18
09:25

Barrington to hold a conference

High Yield Bond & Syndicated Loan Conference 2018 will be held in Colorado Springs, CO on May 21-23 with webcasted company presentations to begin on May 23 at 9:30 am; not all company presentations may be webcasted. Webcast Link

WIN

Windstream

$1.49

(0.00%)

AMZN

Amazon.com

$1,582.10

(0.00%)

VICI

VICI Properties

$19.74

(0.00%)

JCOM

j2 Global

$85.27

(0.00%)

UNIT

Uniti Group

$20.08

(0.00%)

STAR

iStar

$10.78

(0.00%)

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    May

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    Jun

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    Jun

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    Jun

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    Jun

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    Jul

WIN Windstream
$1.49

(0.00%)

03/13/18
GUGG
03/13/18
INITIATION
Target $1.35
GUGG
Sell
Windstream initiated with a Sell at Guggenheim
Guggenheim analyst Mike McCormack initiated coverage of the Telecom Services space, starting Windstream with a Sell rating and $1.35 price target, as he believes the Independent Local Exchange Carriers, or ILECs, burdened by legacy revenue are disadvantaged.
02/28/18
MSCO
02/28/18
NO CHANGE
Target $16
MSCO
Equal Weight
Frontier dividend suspension not entirely unexpected, says Morgan Stanley
Morgan Stanley analyst Simon Flannery noted that 91% of investors in a prior survey conducted by the firm said they expected Frontier Communications (FTR) to cut its dividend in 2018, though he also views the change as earlier and bigger than may have been expected. He also pointed out that when Windstream (WIN) eliminated its own dividend in August 2017, the stock fell 36% the next day, though he added that he thinks that dividend cut was more unexpected. Flannery, who questions whether the dividend news will overshadow Frontier's in-line quarterly results and better than expected 2018 guidance, has an Equal Weight rating on the stock.
01/02/18
01/02/18
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. Johnson & Johnson (JNJ) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Weinstein saying he sees greater upside potential in other large cap names with J&J shares trading at 17.9 times his 2018 earnings estimate. 2. PG&E (PCG) downgraded to Sell from Neutral at Guggenheim and to Neutral from Buy at Goldman Sachs. Goldman analyst Michael Lapides saying resolution of claims from the California wildfires, if inverse condemnation is applied, could take years and "cash flow/balance sheet impacts could prove significant still." 3. Allstate (ALL) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Meyer Shields saying the company's margin expansion story has played out. 4. Cabot Oil & Gas (COG) downgraded two notches to Underperform from Outperform at Raymond James with analyst John Freeman citing valuation after "considerable" 2017 share outperformance. 5. Windstream (WIN) downgraded to Underweight from Neutral at JPMorgan with analyst Philip Cusick saying he sees fundamental business challenges continuing in both the near and long term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/02/18
JPMS
01/02/18
DOWNGRADE
JPMS
Underweight
Windstream downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick downgraded Windstream to Underweight saying he sees fundamental business challenges continuing in both the near and long term. On the consumer side, the analyst expects competition from cable and satellite could capture up to 60% of Windstream's current subscriber base. Cusick does not have a price target for the shares.
AMZN Amazon.com
$1,582.10

(0.00%)

05/22/18
BERN
05/22/18
NO CHANGE
BERN
Bernstein sees common motivations for Amazon to enter grocery, pharmacy retail
Bernstein analyst Lance Wilkes believes there are common motivations for Amazon to enter grocery and pharmacy retail, and as Amazon enters one segment it makes it more likely they will enter the other. There will continue to be elements of the market for offline retailers, he contends, adding that challenges for grocery are more related to logistics, while for pharmacy challenges are more business structure.
05/18/18
MSCO
05/18/18
NO CHANGE
Target $190
MSCO
Overweight
Unclear yet how much YouTube Music will challenge Spotify, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne has slightly bumped up his estimates for Spotify's (SPOT) premium net adds and ad-supported MAUs for the year following Q1 results and Q2 guidance, saying he sees the expanded Hulu offer in the U.S. and the potential extension of free trials providing some upside that is partially offset by the launch of Google's (GOOGL) YouTube Music. While he said he would "certainly take YouTube seriously," Swinburne notes Google Play music has not previously slowed down Spotify, nor have Apple (AAPL) and Amazon's (AMZN) presence. "Time will tell how much of [Google's] relaunch is aimed at building a business versus appeasing the music industry," concludes Swinburne, who keeps an Overweight rating and $190 price target on Spotify shares.
05/18/18
SBSH
05/18/18
NO CHANGE
SBSH
Buy
Amazon India underestimated, could be worth $16B, says Citi
After disappointing results in China, Amazon.com has been determined to win in India, Citi analyst Mark May tells investors in a research note. Amazon has thus far succeeded in capturing around 30% market share, though Flipkart remains a strong competitor, the analyst adds. May believes the India e-commerce market will grow at 21% annually over the next decade to $202B and that Amazon could capture 35% market share, generating over $11B in revenue and $1.5B in free cash flow by 2027. That suggests that Amazon India could be worth $16B, which implies that the market may only value the other Emerging International Retail Markets businesses at $28B, May tells investors in a research note. He thinks investors continue to underestimate the value of Amazon's existing Emerging International Retail Markets businesses.
05/17/18
RBCM
05/17/18
NO CHANGE
Target $35
RBCM
Sector Perform
Macy's price target raised to $35 from $31 at RBC Capital
RBC Capital analyst Brian Tunick raised his price target on Macy's (M) to $35 after its Q1 results, saying the company's business improvements that stabilized low-single-digit comps were encouraging while margins also appear to be bottoming. Tunick also cites "favorable consumer spending" and progress on strategic initiatives driving sequential improvement in comps. The analyst keeps his Sector Perform rating however, saying the stock price will likely remain range-bound without a "meaningful" comp acceleration amid the persistent investor concerns with the impact of Amazon (AMZN) on retail and the slowing mall traffic.
VICI VICI Properties
$19.74

(0.00%)

02/26/18
MSCO
02/26/18
INITIATION
Target $21
MSCO
Equal Weight
VICI Properties initiated with an Equal Weight at Morgan Stanley (pre-open)
Morgan Stanley analyst Thomas Allen started VICI Properties with an Equal Weight rating and $21 price target.
02/26/18
02/26/18
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. Walmart (WMT) initiated with a Neutral and Target (TGT) initiated with an Outperform at Credit Suisse. 2. Hudson (HUD) initiated with a Buy at Goldman Sachs, a Buy at UBS, an Equal Weight at Morgan Stanley and an Outperform at Credit Suisse. 3. VICI Properties (VICI) initiated with a Buy at Stifel, a Neutral at Goldman Sachs and an Equal Weight at Barclays. 4. Sage Therapeutics (SAGE) initiated with an Overweight at Morgan Stanley. 5. Sol-Gel Technologies (SLGL) initiated with a Buy at Jefferies and an Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/18
UGAM
03/27/18
INITIATION
Target $23
UGAM
Buy
VICI Properties initiated with a Buy at Union Gaming
Union Gaming initiated VICI Properties with a Buy and $23 price target.
05/17/18
DBAB
05/17/18
INITIATION
Target $22
DBAB
Buy
VICI Properties initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli started VICI Properties with a Buy rating and $22 price target. The company offers "embedded growth at a compelling relative valuation," Santarelli tells investors in a research note.
JCOM j2 Global
$85.27

(0.00%)

02/02/18
DADA
02/02/18
INITIATION
Target $95
DADA
Buy
j2 Global initiated with a Buy at DA Davidson
DA Davidson analyst Rishi Jaluria initiated j2 Global with a Buy rating and a price target of $95, saying the company acquisition strategy is akin to private equity in "buying underperforming assets in cloud services and digital media and achieving scale through a roll-up strategy". The analyst is also positive on j2 Global's operating margin expansion and potential for further gains along with its attractive valuation relative to the peer group.
05/09/18
DADA
05/09/18
NO CHANGE
Target $100
DADA
Buy
j2 Global price target raised to $100 from $95 at DA Davidson
DA Davidson analyst Rishi Jaluria raised his price target on J2 Global to $100 after its Q1 earnings, saying the results were driven by a 16% revenue increase in digital media. The analyst notes that the segment is increasingly more focused on subscription revenue, which has grown to 22% of digital media's total sales from 12% last quarter, adding that EBITDA margins are also expected to improve after some compression in Q1. Jaluria keeps his Buy rating on J2 Global.
UNIT Uniti Group
$20.08

(0.00%)

10/02/17
10/02/17
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 Hold from Buy at Jefferies with analyst Kevin Grundy saying North American beverage trends continue to deteriorate and Pepsi's likely need for reinvestment should "cap the stock" over the next 12 months. 2. Western Digital (WDC) downgraded to Neutral from Outperform at Baird with analyst Tristan Gerra saying he believes the potential outcomes from the company's ongoing litigation with Toshiba (TOSYY) "range from neutral to significantly negative" and the ongoing fight will cap the stock's valuation in the near-term. 3. Uniti Group (UNIT) downgraded to Neutral from Overweight at JPMorgan with analyst Philip Cusick saying the "theme of Windstream's (WIN) distress continues to increase in volume." 4. Parker-Hannifin (PH) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Nigel Coe saying he sees a more balanced risk-reward following the stock's strong outperformance since the election. 5. bluebird bio (BLUE) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying he believes the risks ahead of the company's presentation of LentiGlobin sickle cell data at December's American Society of Hematology meeting remains underappreciated. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/17
RHCO
10/03/17
NO CHANGE
RHCO
Uniti Group weakness overdone, says SunTrust
After a Windstream (WIN) noteholder alleged that the company defaulted on its covenant as a result of the spin off of Unit (UNIT)i, SunTrust analyst Greg Miller says that this development added to the decline of Uniti's stock and increases its legal risk. However, he thinks that Windstream will be able to convince the court to dismiss the noteholder's petition, and he consequently believes that the decline in Uniti is overdone. He cut his price target on Uniti to $25 from $30 but keeps a Buy rating on the shares.
05/14/18
DBAB
05/14/18
DOWNGRADE
DBAB
Hold
Uniti Group downgraded to Hold from Buy at Deutsche Bank
05/14/18
05/14/18
DOWNGRADE
Target $21

Hold
Uniti Group downgraded to Hold on valuation at Deutsche Bank
As previously reported, Deutsche Bank analyst Matthew Niknam downgraded Uniti Group to Hold from Buy, citing valuation after its shares have outperformed the S&P 500 by nearly 40% since early March. Niknam is constructive on Uniti's execution and revenue diversification strategy, but thinks the risk/reward is balanced at current levels, he tells investors. He raised his price target on Uniti shares to $21 from $20.
STAR iStar
$10.78

(0.00%)

03/27/18
RAJA
03/27/18
INITIATION
RAJA
Market Perform
iStar initiated with a Market Perform at Raymond James

TODAY'S FREE FLY STORIES

SHY

iShares 1-3 Year Treasury Bond

$83.05

0.015 (0.02%)

15:10
09/21/18
09/21
15:10
09/21/18
15:10
Options
Four-week puts in iShares 1 to 3 Year Treasury Bond ETF »

Four-week puts in iShares…

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WOPEY

Woodside Petroleum

$0.00

(0.00%)

15:06
09/21/18
09/21
15:06
09/21/18
15:06
Conference/Events
Woodside Petroleum management to meet with JPMorgan »

Meetings to be held in…

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STM

STMicroelectronics

$18.90

-0.15 (-0.79%)

15:05
09/21/18
09/21
15:05
09/21/18
15:05
Options
STMicroelectronics call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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03/06/13
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15:05
09/21/18
09/21
15:05
09/21/18
15:05
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$292.39

0.1826 (0.06%)

14:59
09/21/18
09/21
14:59
09/21/18
14:59
Periodicals
Hassett: U.S. close to trade agreement with Mexico but not Canada, Reuters says »

White House economic…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$292.39

0.1826 (0.06%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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TM

Toyota

$124.67

-0.295 (-0.24%)

, GOOGL

Alphabet Class A

$1,178.42

-13.14 (-1.10%)

14:57
09/21/18
09/21
14:57
09/21/18
14:57
Periodicals
Breaking Periodicals news story on Toyota, Alphabet Class A, Alphabet »

Toyota agrees to allow…

TM

Toyota

$124.67

-0.295 (-0.24%)

GOOGL

Alphabet Class A

$1,178.42

-13.14 (-1.10%)

GOOG

Alphabet

$1,172.77

-14.31 (-1.21%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 26

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    Mar

ZION

Zions Bancorp

$52.64

0.15 (0.29%)

14:50
09/21/18
09/21
14:50
09/21/18
14:50
Options
Timely call buying in Zions Bancorp »

Timely call buying in…

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03/06/13
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14:50
09/21/18
09/21
14:50
09/21/18
14:50
General news
Treasury Action: supply is heavy in the busy week ahead »

Treasury Action: supply…

NGG

National Grid

$52.16

-0.25 (-0.48%)

14:49
09/21/18
09/21
14:49
09/21/18
14:49
Conference/Events
National Grid management to meet with JPMorgan »

Meetings to be held New…

03/08/13
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03/08/13
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03/06/13
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  • 24

    Sep

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    Sep

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    Sep

PYPL

PayPal

$91.20

0.61 (0.67%)

14:44
09/21/18
09/21
14:44
09/21/18
14:44
Hot Stocks
PayPal confirms ending business relationship with Infowars »

In a blog post, PayPal…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 26

    Nov

OSTK

Overstock.com

$27.20

0.65 (2.45%)

14:39
09/21/18
09/21
14:39
09/21/18
14:39
Hot Stocks
Law firm says Overstock.com loses Delaware trial over gift cards »

Law firm Grant &…

03/08/13
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03/06/13
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03/06/13
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PCG

PG&E

$47.19

0.26 (0.55%)

, EIX

Edison International

$68.79

0.98 (1.45%)

14:35
09/21/18
09/21
14:35
09/21/18
14:35
Periodicals
California governor signs wildfire bill, LA Times reports »

California governor Jerry…

PCG

PG&E

$47.19

0.26 (0.55%)

EIX

Edison International

$68.79

0.98 (1.45%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 25

    Sep

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    Nov

IVZ

Invesco

$24.35

-0.065 (-0.27%)

14:31
09/21/18
09/21
14:31
09/21/18
14:31
Periodicals
Breaking Periodicals news story on Invesco »

Invesco in talks for…

03/08/13
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03/06/13
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03/06/13
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MNK

Mallinckrodt

$30.17

0.42 (1.41%)

14:30
09/21/18
09/21
14:30
09/21/18
14:30
Options
Sweep buyers of Mallinckrodt calls as shares spike in afternoon action »

Sweep buyers of…

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  • 01

    Oct

BPY

Brookfield Property

$20.92

0.39 (1.90%)

, BBU

Brookfield Business Partners

$44.19

-0.07 (-0.16%)

14:25
09/21/18
09/21
14:25
09/21/18
14:25
Conference/Events
Brookfield to hold investor day »

Investor Day to be held…

BPY

Brookfield Property

$20.92

0.39 (1.90%)

BBU

Brookfield Business Partners

$44.19

-0.07 (-0.16%)

BAM

Brookfield

$44.20

0.75 (1.73%)

03/08/13
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  • 26

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14:25
09/21/18
09/21
14:25
09/21/18
14:25
General news
Action Economics Survey results »

Action Economics Survey…

PYPL

PayPal

$91.23

0.64 (0.71%)

14:22
09/21/18
09/21
14:22
09/21/18
14:22
Periodicals
PayPal no longer doing business with Infowars, Verge reports »

PayPal no longer intends…

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  • 26

    Nov

EWC

iShares MSCI Canada Index

$29.05

0.02 (0.07%)

14:20
09/21/18
09/21
14:20
09/21/18
14:20
Options
NAFTA hedge in iShares Canada ETF »

NAFTA hedge in iShares…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
09/21/18
09/21
14:17
09/21/18
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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EDNT

Edison Nation

$7.11

(0.00%)

14:16
09/21/18
09/21
14:16
09/21/18
14:16
Hot Stocks
Breaking Hot Stocks news story on Edison Nation »

Louis Foreman reports…

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PCG

PG&E

$47.02

0.09 (0.19%)

14:16
09/21/18
09/21
14:16
09/21/18
14:16
Periodicals
Breaking Periodicals news story on PG&E »

California governor signs…

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  • 25

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    Nov

$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
09/21/18
09/21
14:16
09/21/18
14:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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AFL

Aflac

$47.82

-0.06 (-0.13%)

14:15
09/21/18
09/21
14:15
09/21/18
14:15
Conference/Events
Aflac to hold financial analysts briefing »

Financial Analysts…

03/08/13
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03/06/13
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SPY

SPDR S&P 500 ETF Trust

$292.44

0.2326 (0.08%)

, SPX

S&P 500

$0.00

(0.00%)

14:09
09/21/18
09/21
14:09
09/21/18
14:09
General news
Deputy AG Rosenstein said to suggest secretly taping Trump, NY Times says »

Deputy attorney general…

SPY

SPDR S&P 500 ETF Trust

$292.44

0.2326 (0.08%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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SPPI

Spectrum

$21.31

-0.21 (-0.98%)

13:55
09/21/18
09/21
13:55
09/21/18
13:55
Options
Spectrum put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 01

    Oct

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