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GPS

Gap

$28.15

-4.82 (-14.62%)

, FL

Foot Locker

$55.97

9.585 (20.67%)

16:30
05/25/18
05/25
16:30
05/25/18
16:30

On The Fly: Top stock stories for Friday

Stocks on Wall Street finished a quiet day mixed. The Nasdaq posted a small gain and the S&P and Dow slid as oil prices, and energy-related stocks, underperformed following a report that OPEC and Russia may raise their production ceiling. Outside of energy and additional trade headlines, the news flow was very slow as investors began to leave early for the long Memorial Day weekend. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.7% in April, versus a forecast for them to have fallen 1.3% from the prior month. New orders for nondefense capital goods excluding aircraft rose 0.8%, topping the 0.4% rise in that figure that was expected. The University of Michigan's consumer sentiment index for May declined to 98.0 in the final reading for the month. It had been expected to hold steady at 98.8. In energy news, July West Texas Intermediate crude fell $2.83, or 4%, to settle at $67.88 a barrel following a report that OPEC and Russia are discussing a possible increase in production. COMPANY NEWS: Gap's (GPS) shares closed 14.6% lower after the company reported an earnings miss due to challenges at its namesake brand. Another retailer faring better was Foot Locker (FL), which rose 20.2% after reporting better than expected results aided by Nike (NKE) retaking market share... Shares of Herbalife Nutrition (HLF) fell 9.5% after Icahn Enterprises (IEP) disclosed that it is tendering about a quarter of the shares it currently owns to be repurchased by the company. However, Carl Icahn said he still believes the company is well-positioned for the future and noted he will remain Herbalife's largest holder. MAJOR MOVERS: Among the notable gainers was Quest Diagnostics (DGX), which gained 4.9% after the company and UnitedHealthcare (UNH) announced a long-term strategic partnership. Also higher were a number of airline operators including American Airline (AAL), Southwest (LUV) and Delta (DAL) in response to the decline in oil prices. Among the noteworthy losers following their earnings reports were Ross Stores (ROST) and Autodesk (ADSK), which fell 6.8% and 4.4%, respectively. Also lower was Fiat Chrysler (FCAU), which slid 2% after the carmaker announced it is recalling an estimated 4.8M U.S.-market vehicles to upgrade software to address a problem with their cruise-control function. INDEXES: The Dow fell 58.67, or 0.24%, to 24,753.09, the Nasdaq gained 9.42, or 0.13%, to 7,433.85, and the S&P 500 declined 6.43, or 0.24%, to 2,721.33.

GPS

Gap

$28.15

-4.82 (-14.62%)

FL

Foot Locker

$55.97

9.585 (20.67%)

HLF

Herbalife Nutrition

$48.76

-5.09 (-9.45%)

IEP

Icahn Enterprises

$69.41

0.22 (0.32%)

FCAU

Fiat Chrysler

$21.82

-0.445 (-2.00%)

DGX

Quest Diagnostics

$105.89

5 (4.96%)

UNH

UnitedHealth

$244.96

2.23 (0.92%)

ROST

Ross Stores

$77.35

-5.6 (-6.75%)

ADSK

Autodesk

$132.80

-5.96 (-4.30%)

AAL

American Airlines

$44.89

1.34 (3.08%)

LUV

Southwest

$52.86

1.65 (3.22%)

DAL

Delta Air Lines

$55.89

1.48 (2.72%)

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GPS Gap
$28.15

-4.82 (-14.62%)

05/15/18
TLSY
05/15/18
UPGRADE
TLSY
Outperform
Gap upgraded to Outperform from Market Perform at Telsey Advisory
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.
05/25/18
RHCO
05/25/18
NO CHANGE
Target $29
RHCO
Hold
Gap price target lowered to $29 from $35 at SunTrust
SunTrust analyst Pamela Quintiliano lowered her price target on Gap to $29 after its Q1 earnings miss, saying that despite the management optimism, there is little to be excited about given the challenges at Gap brand division and its pressure on inventories and margins. The analyst adds that while Old Navy is "firing on all cylinders", there is less upside for the segment, while margin expansion will be more reliant on the Gap brand. Quintiliano keeps her Hold rating on Gap Inc.
05/25/18
JEFF
05/25/18
NO CHANGE
Target $45
JEFF
Buy
Gap pullback a buying opportunity, says Jefferies
Jefferies analyst Randal Konik recommends using the post-earnings pullback in shares of Gap (GPS) as a buying opportunity. The "subpar" Q1 performance was driven by margin compression as heavy markdowns plagued the Gap brand, Konik tells investors in a research note. The analyst believes capital should continue to be diverted away from Gap and Banana Republic and toward Old Navy and Athleta to maximize earnings and cash flow. He notes that Gap's total market capitalization is now $2B less than Lululemon (LULU). Konik lowered his price target for Gap to $45 from $48 and keeps a Buy rating on the shares.
FL Foot Locker
$55.97

9.585 (20.67%)

05/25/18
JEFF
05/25/18
NO CHANGE
Target $65
JEFF
Buy
Foot Locker price target raised to $65 from $55 at Jefferies
Jefferies analyst Randal Konik raised his price target on Foot Locker (FL) shares to $65 after the company's Q1 report, which he believes shows the business is reaching an inflection point. Konik, who said Nike (NKE) share gains are helping Foot Locker and noted that the retailer's inventories were well controlled, keeps a Buy rating on Foot Locker shares.
05/11/18
05/11/18
DOWNGRADE

Mixed
Foot Locker downgraded to Mixed slowing sales trends at OTR Global
As previously reported, OTR Global downgraded Foot Locker (FL) to Mixed from Positive. The firm's checks indicate Q1 sales benefited from improved offerings by Nike (NKE), but sales trends year-over-year slowed and Champs struggled to gain traffic and sales.
05/11/18
OTRG
05/11/18
DOWNGRADE
OTRG
Mixed
Foot Locker downgraded to Mixed from Positive at OTR Global
04/04/18
DBAB
04/04/18
NO CHANGE
Target $58
DBAB
Buy
Foot Locker valuation compelling following selloff, says Deutsche Bank
Deutsche Bank analyst Paul Trussell says meetings with management reassured him that Foot Locker remains well positioned in the industry, has a "strong" product pipeline and consumer sentiment is positive around recent launches. The analyst sees upside potential in Q2 and Q3 driven by increases in product depth and less markdowns. He views the stock's valuation as compelling following the recent pullback and reiterates a Buy rating on Foot Locker with a $58 price target.
HLF Herbalife Nutrition
$48.76

-5.09 (-9.45%)

05/04/18
RHCO
05/04/18
NO CHANGE
Target $105
RHCO
Hold
Herbalife Nutrition price target raised to $105 from $76 at SunTrust
SunTrust analyst Michael Swartz raised his price target on Herbalife to $105 following its Q1 earnings beat that also showed "improving trends in the U.S." The analyst notes however that China volume fell dramatically by 23% after last year's price increase. Swartz keeps his Hold rating on Herbalife and recommends that investors don't chase the stock price after its year-to-date gains.
03/06/18
03/06/18
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. UPS (UPS) upgraded to Buy from Hold at Stifel with analyst David Ross saying after the recent share pullback, UPS' valuation is "reasonable" considering the risks ahead and the increased capital investments expected over the next several years. 2. PPL Corp. (PPL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Shelby Tucker saying he believes that the uncertainty around the impact of RIIO-2 price controls on the company's financials has been more than discounted in the stock price, while the equity needs due to tax reform have also been digested by investors. 3. First Republic (FRC) upgraded to Overweight from Equal Weight at Barclays with analyst Matthew Keating saying he believes the impact of First Republic's "millennial strategies" on client household acquisition is underappreciated and that tax reform will not weigh the bank's businesses. 4. Herbalife Nutrition (HLF) upgraded to Buy from Neutral at Citi with analyst Beth Kite saying since January, the company has made capital allocation announcements, enacted several executive changes, and found out that Bill Ackman closed out his long-standing and well-publicized short position. 5. Mylan (MYL) upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/18
SBSH
03/06/18
UPGRADE
Target $114
SBSH
Buy
Citi sees further upside in Herbalife, upgrades shares to Buy
Citi analyst Beth Kite last night upgraded Herbalife to Buy from Neutral and raised her price target for the shares to $114 from $85. The stock in premarket trading is up 3%, or $2.98, to $97.25. Since January, the company has made capital allocation announcements, enacted several executive changes, and found out that Bill Ackman closed out his long-standing and well-publicized short position, Kite tells investors in a research note. The analyst sees further upside in the shares as Herbalife executes a tender offer and refinances its debt, to both reinvest in the business and repurchase shares in 2019. If the company can deliver its local currency sales growth guidance in 2018, it would be one of the best top line stories in Household/Personal Care Products, Kite contends.
03/05/18
SBSH
03/05/18
UPGRADE
SBSH
Buy
Herbalife Nutrition upgraded to Buy from Neutral at Citi
IEP Icahn Enterprises
$69.41

0.22 (0.32%)

03/19/18
JEFF
03/19/18
NO CHANGE
JEFF
Newell Brands agreement with Icahn a win for CEO Polk, says Jefferies
Jefferies analyst Kevin Grundy noted that Newell Brands reached an agreement with activist investor Carl Icahn to appoint five directors nominated by Icahn to the company's board, a board which totals eleven directors. In exchange, Icahn agreed to vote all his shares -- he disclosed a 6.9% stake in Newell -- in favor of Newell's nominees. The firm believes that while this news may come as a surprise, it will lead to the shares trading up, and called it a "big win" for CEO Michael Polk, despite the five seats given up being "a hefty price." Jefferies maintained a Hold rating and $29 price target on Newell shares.
03/19/18
WELS
03/19/18
NO CHANGE
Target $25
WELS
Market Perform
Newell Brands agreement with Icahn lends credibility to management plan, says Wells Fargo
Wells Fargo analyst Bonnie Herzog says Newell Brands (NWL) agreement with Carl Icahn, Chairman of Icahn Enterprises (IEP), lends credibility to the management's plan, and likely increases the odds that the former will ultimately prevail in its proxy battle with Starboard. That said, the analyst believes that ongoing fundamental headwinds, the stepped-up divestiture program and organizational disruption likely leaves an overhang on the shares, despite a cheap valuation. Herzog reiterates a Market Perform rating and $25 price target on Newell's shares.
FCAU Fiat Chrysler
$21.82

-0.445 (-2.00%)

03/21/18
NOMU
03/21/18
INITIATION
NOMU
Neutral
Fiat Chrysler initiated with a Neutral at Nomura Instinet
Nomura Instinet started Fiat Chrysler with a Neutral rating and EUR 19 price target.
05/22/18
HSBC
05/22/18
INITIATION
HSBC
Buy
Fiat Chrysler initiated with a Buy at HSBC
HSBC started Fiat Chrysler with a Buy rating.
04/25/18
JEFF
04/25/18
DOWNGRADE
Target $26
JEFF
Hold
Fiat Chrysler downgraded to Hold from Buy at Jefferies
Jefferies analyst Philippe Houchois downgraded Fiat Chrysler to Hold while raising his price target for the shares to $26 from $24. The analyst believes "meaningful upside" from current share levels would require "supernormal profits" or "black swan events" such as a takeover. He cites valuation for the downgrade to Hold.
04/09/18
04/09/18
UPGRADE
Target $48

Overweight
GM upgraded to Overweight on infrastructure bill potential at Morgan Stanley
As previously reported, Morgan Stanley analyst Adam Jonas upgraded General Motors (GM) to Overweight from Equal Weight, as he sees room for positive earnings revisions for GM, Ford (F) and Fiat Chrysler (FCAU) as investors better understand the impact on U.S. pick-up truck sales from a potential passage of a U.S. infrastructure bill. The firm's economics team estimates a bull case of as much as $2.4T in U.S. infrastructure spending over a 10-year period, which primarily would affect automakers through the sale of highly-profitable pickup trucks, said Jonas, who noted that greater infrastructure spending typically does coincide with increased pickup sales. Jonas raised his price target on GM shares to $48 from $45 and increased his price target on Fiat Chrysler to EUR23 from EUR22 per share.
DGX Quest Diagnostics
$105.89

5 (4.96%)

05/25/18
EVER
05/25/18
NO CHANGE
Target $40.5
EVER
Outperform
Hologic relationship with Quest seems 'healthy,' says Evercore ISI
Evercore IS analyst Vijay Kumar sees "minimal risks" to Hologic (HOLX) from Quest Diagnostics' (DGX) and LabCorp's (LH) contract renegotiations with UnitedHealth (UNH) and Aetna (AET). He estimates Quest and LabCorp together account for about $200M of revenue for Hologic. Hologic received a Supplier Excellence award last year from Quest, which points to "healthy" relationship, Kumar tells investors in a research note. He believes the labs' new contracts bake in a mid-single digit pricing cut, leading a "manageable" 3c-4c of earnings impact to Hologic. Kumar has an Outperform rating on the shares with a $40.50 price target.
05/25/18
CHLM
05/25/18
NO CHANGE
Target $204
CHLM
Buy
UnitedHealth news positive for Quest, 'clearing event' for LabCorp, says Craig-Hallum
Craig-Hallum analyst Kevin Ellich commented on last night's announcements by UnitedHealth (UNH) of long-term strategic partnerships with Quest Diagnostics (DGX) and LabCorp (LH) starting January 1, 2019, whereby both labs will be national providers of lab services. In a research note to investors, Ellich said he is "not surprised" by the announcement, adding that it is "clearly a positive" for Quest, as with UnitedHealth's 48M+ covered lives, it will have access to 90% of all insured lives nationally. Conversely, Kevin sees it as a "clearing event" for LabCorp shares, as the exclusive UnitedHealth contract, which was set to expire at the end of this year, was an overhang. In the event LabCorp loses some UnitedHealth volume, he expects the company will be able to mitigate the impact in a variety of ways, including entry into the Aetna (AET) contract and access to its ~22M medical members, which is exclusive to Quest now but in 2019 Aetna has the option to add another preferred lab provider. Ellich has a Buy rating and $204 price target on LabCorp, while he has a Hold rating and $107 price target on Quest Diagnostics.
05/25/18
LEHM
05/25/18
NO CHANGE
Target $220
LEHM
Overweight
Barclays boosts price targets for LabCorp, Quest Diagnostics
Barclays analyst Jack Meehan raised his price target for Overweight-rated LabCorp (LH) to $220 from $210 and Equal Weight-rated Quest Diagnostics (DGX) to $120 from $111 after both labs announced a long-term strategic partnership with UnitedHealth (UNH). The insurer opening their contract to let Quest back in was the base case outcome that investors have been expecting, though confirmation removes any uncertainty, Meehan tells investors in a research note. The analyst continues to believe it is also likely that Aetna (AET) will open up network access to LabCorp starting in 2019. He feels an announcement could be imminent. Meehan thinks it would be a "major strategic positive" for LabCorp and Quest if both national payors open their contracts to both national labs.
05/25/18
MZHO
05/25/18
NO CHANGE
MZHO
Buy
Quest becomes in-network lab for UnitedHealth, says Mizuho
Mizuho analyst Ann Hynes reiterates a Buy rating on Quest Diagnostics (DGX) and Neutral rating on LabCorp (LH) after UnitedHealth (UNH) announced that both companies will participate as national providers of laboratory services for the company effective January 1, 2019. LabCorp will lose its national exclusivity, but remains in-network, as UnitedHealth's national laboratory provider while Quest will be in-network for all plan participants beginning January 1, Hynes tells investors in a research note. She believes the move will enable Quest to reach the high-end of its previously provided long-term outlook range. For LabCorp, the news is disappointing but likely expected and now an overhang has been removed, Haynes contends.
UNH UnitedHealth
$244.96

2.23 (0.92%)

ROST Ross Stores
$77.35

-5.6 (-6.75%)

05/25/18
WBLR
05/25/18
NO CHANGE
WBLR
Outperform
Ross Stores should be bought on weakness, says William Blair
William Blair analyst Daniel Hofkin recommends buying shares of Ross Stores on today's weakness. The analyst believes the company's guidance is likely conservative and keeps an Outperform rating on the shares. He views the Q1 report as "solid" despite the "relatively softer" comp versus Marmaxx.
05/24/18
LOOP
05/24/18
NO CHANGE
Target $88
LOOP
Buy
Ross Stores price target raised to $88 from $85 at Loop Capital
Loop Capital analyst Laura Champine raised her price target on Ross Stores to $88 and kept her Buy rating after its Q1 results, saying that despite the post-items miss in the EPS, the company's "off-price model" is defensible longer term. The analyst expects the company to continue to capture market share from department stores and specialty retailers, even though the latest "mixed" results do temper her optimism.
05/25/18
JPMS
05/25/18
NO CHANGE
Target $92
JPMS
Overweight
Ross Stores earnings pullback a buying opportunity, says JPMorgan
JPMorgan analyst Matthew Boss recommends buying shares of Ross Stores on today's post-earnings selloff. The analyst attributes the below consensus Q2 earnings outlook to the negative shift of packaway with flat merchandise margins and embedded headwinds from freight. He views Ross' same-store-sales results as solid and upped his price target for the shares to $92 from $91. Boss keeps an Overweight rating on Ross Stores.
05/25/18
DBAB
05/25/18
NO CHANGE
Target $91
DBAB
Buy
Ross Stores weakness a buying opportunity, says Deutsche Bank
Deutsche Bank analyst Paul Trussell views today's post-earnings weakness in shares of Ross Stores as a buying opportunity. The company posted a Q1 earnings beat in addition to increased fiscal 2018 guidance, but the print failed to meet elevated expectations, Trussell tells investors in a research note. He lowered his price target for the shares to $91 from $94 and keeps a Buy rating on Ross.
ADSK Autodesk
$132.80

-5.96 (-4.30%)

05/25/18
JPMS
05/25/18
NO CHANGE
Target $150
JPMS
Overweight
Autodesk results solid on most important metric, says JPMorgan
"Noisy" metrics like net subscriptions do not tell a clear story about the health of Autodesk's subscription transition in its Q1 results, JPMorgan analyst Sterling Auty tells investors in a post-earnings research note. Annualized recurring revenue is the most important metric and the results were solid in the quarter, the analyst contends. He says total ARR and subscription ARR were better than anticipated with some ASC 606 impacts. However, the billings 606 headwind should wain through the year as cash flow generation is forecasted to return, Auty contends. He keeps an Overweight rating on Autodesk with a $150 price target.
05/25/18
BREN
05/25/18
NO CHANGE
Target $168
BREN
Buy
Autodesk post-earnings pullback would be buying opportunity, says Berenberg
Berenberg analyst Gal Munda said Autodesk's first quarter came in fairly in-line with expectations, stating that he expects average recurring revenue growth to continue being driven by improvement in ARPS for the rest of the year. While he notes net new additions in the subscriber base were below consensus, Munda said this is in keeping with the company's previously outlined "higher quality sub" strategy. The analyst, who recommends using any post-earnings pullback as a buying opportunity, keeps a Buy rating and $168 price target on Autodesk shares.
05/15/18
MSCO
05/15/18
NO CHANGE
Target $160
MSCO
Overweight
Autodesk price target raised to $160 from $150 at Morgan Stanley
Morgan Stanley analyst Keith Weiss said he now has greater confidence in billings growth at Autodesk after doing a "deep dive" on the primary drivers of its long-term subscription growth. Citing his new analyst, Weiss raised his price target on Autodesk to $160 and maintains an Overweight rating on the stock.
05/14/18
DBAB
05/14/18
NO CHANGE
Target $150
DBAB
Buy
Autodesk price target raised to $150 from $136 at Deutsche Bank
Deutsche Bank analyst Alex Tout raised his price target on Autodesk to $150 as he previewed the company Q1 report, stating that he thinks the company gave greater clarity on the pricing power in the core business during its analyst day and he believes a significant reset around Cloud has been a positive for the stock. Tout maintains a Buy rating on Autodesk shares.
AAL American Airlines
$44.89

1.34 (3.08%)

03/09/18
JPMS
03/09/18
NO CHANGE
JPMS
JPMorgan sees Airlines raising Q1 outlooks at next week's conference
JPMorgan analyst James Baker believes several Airlines will raise their Q1 guidance at his firm's Aviation, Transportation and Industrials Conference next week. He expects near-term consensus estimates to move higher for the airlines coming out of the presentations, particularly for United Continental (UAL). The analyst recommends increasing exposure to the sector ahead of the conference. He raised his estimates for United the most, taking his Q1 earnings per share forecast up to 32c from 3c. Other names in the space include American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU) and Southwest (LUV).
05/03/18
STFL
05/03/18
NO CHANGE
STFL
Stifel says Alaska, JetBlue may be targets if 'Big 4' think they can consolidate
Stifel analyst Joseph DeNardi said in a note to investors prior to the open that the proposed merger of Sprint (S) and T-Mobile (TMUS), and the related approval process, is the first major test of the Trump administration's view on consolidation. Depending on how this case plays out, management teams at the "Big 4" airlines would have significant interest in acquiring Alaska Air (ALK) or JetBlue (JBLU) if they think they could be successful in doing so, he contends. He believes the current consensus in the industry is that Alaska will serve as buyer and consolidator within its segment, but should the Big 4 believe that they could be permitted to be buyers, the M&A outlook would likely change, DeNardi tells investors.
04/30/18
JPMS
04/30/18
UPGRADE
Target $46
JPMS
Overweight
Spirit Airlines upgraded to Overweight from Underweight at JPMorgan
JPMorgan analyst Jamie Baker double upgraded Spirit Airlines (SAVE) to Overweight from Underweight with an unchanged price target of $46. The stock closed Friday up 9c to $35.49. Down 20% year-to-date, Spirit's shares are the sector's worst performer, Baker tells investors in a research note. The selloff took place despite the removal of the pilot overhang and the unexpected lease-to-purchase swap "which negates much of the pilot impact on CASM," the analyst adds. Further, Baker now sees a "more plausible" path back to the $4 earnings per share range next year. The analyst this morning also downgraded shares of JetBlue (JBLU) to Neutral. He still likes the risk/reward profile on the "Big Three" relative to the discounters, and maintains Overweight ratings on American Airlines (AAL), Delta Air Lines (DAL) and United Continental (UAL).
02/15/18
WBLR
02/15/18
NO CHANGE
WBLR
Outperform
William Blair sees potential for 'major rebound or squeeze' in Gogo shares
William Blair analyst Louie DiPalma says that with Gogo (GOGO) shares near an all-time low and down 20% year-to-date, sentiment is "overly negative." The stock is seemingly pricing in "worse-than-consensus" earnings and guidance when the company reports on February 22, DiPalma tells investors in a research note titled "Show Gogo Some Valentine's Day Love." The analyst sees potential for a "major rebound or squeeze" if management merely brackets consensus with its 2018 EBITDA guidance and reiterates its view that the company is fully funded. Gogo "does not need to do anything extraordinary" to trade in the $20s in 2019, the analyst contends. He notes that short interest is now 25% higher than when Gogo was trading at its all-time low, of $7.80 in June 2016. Further, ViaSat (VSAT) on February 8 implicitly lowered its first-half American Airlines (AAL) retrofit installation target by roughly 67%, which is a positive for Gogo's 2018 EBITDA, DiPalma adds. He keeps an Outperform rating on Gogo.
LUV Southwest
$52.86

1.65 (3.22%)

03/22/18
03/22/18
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. American Axle (AXL) and BorgWarner (BWA) were double-upgraded to Overweight from Underweight at Morgan Stanley. 2. GlaxoSmithKline (GSK) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Vincent Meunier saying the company's capital allocation strategy and operational repositioning show "clear signs of improvement." 3. General Mills (GIS) upgraded to Hold from Sell at Societe Generale with analyst Warren Ackerman citing valuation for the upgrade following yesterday's post-earnings selloff. 4. Pandora (P) upgraded to Strong Buy from Market Perform at Raymond James with analyst Justin Patterson saying AdsWizz will expand TAM by 2x to $28B, accelerate tech initiatives, materially expand reach, and could be worth approximately $4 per share. 5. Southwest (LUV) upgraded to Buy on valuation at Buckingham with analyst Daniel McKenzie saying shares are oversold and maintained a $70 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/25/18
TIGR
05/25/18
INITIATION
TIGR
Buy
Southwest initiated with a Buy at Tigress Financial
Tigress Financial analyst Ivan Feinseth initiated Southwest with a Buy rating, citing his view that strong travel industry trends and the company's industry-leading position can keep driving increased revenue and profitability growth. He sees the recent pullback from the stock's all-time high near $67 per share as a good entry point, he tells investors.
05/07/18
IMPC
05/07/18
NO CHANGE
Target $74
IMPC
Outperform
Hawaiian Holdings competitive concerns overblown, says Imperial Capital
Imperial Capital analyst Michael Derchin believes competitive concerns around Hawaiian Holdings (HA) are overblown after Southwest (LUV) indicated its intention to serve Hawaii from Oakland, San Diego, San Jose and Sacramento. Importantly, Southwest did not announce service from Los Angeles or San Francisco, Hawaiian's two biggest cities on the West Coast, Derchin tells investors in a research note. The analyst believes Hawaiian is likely to retain its leading market share inter-island, particularly among local travelers. He expects the company to grow earnings through 2020 given its "strong" brand loyalty, "superior" product and partnership with Japan Air Lines. Derchin lowered his price target for Hawaiian Holdings to $74 from $82 and keeps an Outperform rating on the shares.
04/27/18
IMPC
04/27/18
NO CHANGE
Target $68
IMPC
Outperform
Southwest price target lowered to $68 from $75 at Imperial Capital
Imperial Capital analyst Michael Derchin lowered his price target for Southwest Airlines to $68 citing lower unit revenue and higher jet fuel prices. The analyst, however, keeps an Outperform rating on the shares following the company's Q1 results. While near-term results are likely to be "choppy" following the recent accident, Southwest's unit revenue should inflect in the second half of 2018, Derchin tells investors in a post-earnings research note.
DAL Delta Air Lines
$55.89

1.48 (2.72%)

04/20/18
MSCO
04/20/18
NO CHANGE
Target $72
MSCO
Overweight
Delta Air Lines deserves premium multiple, says Morgan Stanley
Morgan Stanley analyst Rajeev Lalwani noted that Delta currently trades at an average multiple versus peers of about 8x 2019 consensus EPS estimates. However, given his belief that Delta deserves a greater premium to account for a host of above average metrics and his view of the potential for a moderately higher multiple being assigned to the U.S. Airlines group, Lalwani raised his price target on Delta to $72 from $66. He maintains an Overweight rating on the stock.
04/13/18
SPHN
04/13/18
NO CHANGE
Target $71
SPHN
Overweight
Delta Q1 report shows initiatives producing 'impressive' results, says Stephens
Stephens analyst Jack Atkins said that Delta's Q1 report demonstrates that the company's segmentation, co-branding initiatives, and efforts to improve international performance are producing "impressive" results. The analyst, who thinks Delta is undervalued given the company's strong revenue, earnings and cash flow momentum, reiterates his Overweight rating and $71 price target on the airline's shares.

TODAY'S FREE FLY STORIES

11:25
10/19/18
10/19
11:25
10/19/18
11:25
General news
FX Action: USD-JPY »

FX Action: USD-JPY has…

11:25
10/19/18
10/19
11:25
10/19/18
11:25
Conference/Events
RBC Capital refiners and E&P analysts to hold a luncheon meeting »

Refiners & E&P…

VLKAY

Volkswagen

$0.00

(0.00%)

11:24
10/19/18
10/19
11:24
10/19/18
11:24
Periodicals
VW starts construction on all-electric vehicle plant in China, Electrek says »

Volkswagen has begun…

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

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$278.59

2.26 (0.82%)

11:23
10/19/18
10/19
11:23
10/19/18
11:23
Periodicals
Mnuchin to attend Saudi anti-terror financing meeting, Washington Post says »

Treasury Secretary Steven…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$278.59

2.26 (0.82%)

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

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HLT

Hilton

$71.80

-0.28 (-0.39%)

11:20
10/19/18
10/19
11:20
10/19/18
11:20
Options
Call buyers in Hilton ahead of earnings next week »

Call buyers in Hilton…

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

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  • 24

    Oct

11:20
10/19/18
10/19
11:20
10/19/18
11:20
General news
Treasury Option Action: a round of put positioning on bonds »

Treasury Option Action: a…

APHB

AmpliPhi

$0.34

0.0142 (4.38%)

11:19
10/19/18
10/19
11:19
10/19/18
11:19
Recommendations
AmpliPhi analyst commentary  »

AmpliPhi price target…

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

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UCFC

United Community Financial

$9.40

0.03 (0.32%)

11:18
10/19/18
10/19
11:18
10/19/18
11:18
Hot Stocks
Breaking Hot Stocks news story on United Community Financial »

FJ Capital reports 5.03%…

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

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NUVA

NuVasive

$61.95

-6.29 (-9.22%)

11:17
10/19/18
10/19
11:17
10/19/18
11:17
Recommendations
NuVasive analyst commentary  »

Piper remains buyer of…

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

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  • 30

    Oct

  • 27

    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
10/19/18
10/19
11:17
10/19/18
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
10/19/18
10/19
11:16
10/19/18
11:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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

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F

Ford

$8.44

-0.065 (-0.76%)

, GM

General Motors

$31.17

0.09 (0.29%)

11:15
10/19/18
10/19
11:15
10/19/18
11:15
OnTheFly
Fly Intel: Today's top analyst calls on Wall Street »

Check out today's top…

F

Ford

$8.44

-0.065 (-0.76%)

GM

General Motors

$31.17

0.09 (0.29%)

ROKU

Roku

$57.13

0.14 (0.25%)

DIG

The Walt Disney Internet Group

$39.45

0.28 (0.71%)

EBAY

eBay

$28.84

-2.72 (-8.62%)

PYPL

PayPal

$84.80

7.3 (9.42%)

TSLA

Tesla

$261.50

-2.35 (-0.89%)

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

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  • 22

    Oct

  • 29

    Oct

  • 30

    Oct

  • 31

    Oct

  • 07

    Nov

  • 13

    Nov

  • 13

    Nov

  • 26

    Nov

  • 13

    Dec

  • 03

    Mar

11:15
10/19/18
10/19
11:15
10/19/18
11:15
General news
Breaking General news story  »

Atlanta Federal Reserve…

LOGC

LogicBio Therapeutics

$0.00

(0.00%)

11:13
10/19/18
10/19
11:13
10/19/18
11:13
Syndicate
LogicBio Therapeutics open at $10.71, IPO priced at $10.00 per share »

LogicBio Therapeutics…

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

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  • 19

    Oct

ACRX

AcelRx

$4.10

-0.05 (-1.20%)

11:10
10/19/18
10/19
11:10
10/19/18
11:10
Options
AcelRx attracts downside put buying »

AcelRx attracts downside…

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

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  • 03

    Nov

CAT

Caterpillar

$133.66

-1.25 (-0.93%)

11:00
10/19/18
10/19
11:00
10/19/18
11:00
Options
Earnings hedge opened in Caterpillar »

Earnings hedge opened in…

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

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  • 23

    Oct

STN

Stantec

$24.46

0.09 (0.37%)

10:59
10/19/18
10/19
10:59
10/19/18
10:59
Upgrade
Stantec rating change  »

Stantec upgraded to…

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

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ETSY

Etsy

$43.10

-0.17 (-0.39%)

10:55
10/19/18
10/19
10:55
10/19/18
10:55
Options
Etsy put volume heavy and directionally bearish »

Bearish flow noted in…

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

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  • 13

    Nov

10:55
10/19/18
10/19
10:55
10/19/18
10:55
General news
Existing home sales were much weaker than expected »

Existing home sales were…

SWI

SolarWinds

$0.00

(0.00%)

10:49
10/19/18
10/19
10:49
10/19/18
10:49
Syndicate
Breaking Syndicate news story on SolarWinds »

SolarWinds opens at…

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

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  • 19

    Oct

SWI

SolarWinds

$0.00

(0.00%)

10:47
10/19/18
10/19
10:47
10/19/18
10:47
Syndicate
Breaking Syndicate news story on SolarWinds »

SolarWinds indicated to…

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

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  • 19

    Oct

MAT

Mattel

$14.50

0.31 (2.18%)

10:45
10/19/18
10/19
10:45
10/19/18
10:45
Options
Mattel call volume above normal and directionally bullish »

Bullish option flow…

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

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  • 25

    Oct

  • 03

    Mar

TPIC

TPI Composites

$25.25

0.2 (0.80%)

10:37
10/19/18
10/19
10:37
10/19/18
10:37
Conference/Events
TPI Composites management to meet with Craig Hallum »

Meeting to be held in…

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

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  • 25

    Oct

KLIC

Kulicke & Soffa

$21.53

0.12 (0.56%)

10:36
10/19/18
10/19
10:36
10/19/18
10:36
Conference/Events
Kulicke & Soffa management to meet with Oppenheimer »

Meeting to be held in…

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

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  • 25

    Oct

HBAN

Huntington Bancshares

$14.37

0.17 (1.20%)

10:36
10/19/18
10/19
10:36
10/19/18
10:36
Conference/Events
Huntington Bancshares management to meet with Stephens »

Meeting to be held in…

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

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  • 23

    Oct

  • 25

    Oct

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