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SIRI

Sirius XM

$7.30

0.02 (0.27%)

09:05
06/14/18
06/14
09:05
06/14/18
09:05

SiriusXM price target raised to $8 at BofA/Merrill on steady new car conversion

BofA/Merrill analyst Jessica Reif raised her price target on SiriusXM to $8 from $7, saying that despite the investor concerns around the growth of connected and CarPlay enabled vehicles, the conversion of new cars to the service has been "steady" at 40% while the churn rate remains below 2%. The analyst also points to better than estimated SAAR growth of new auto sales in the U.S. markets, which bodes well for the company's subscription growth in Q2. Reif keeps her Buy rating on SiriusXM, anticipating continued improvement in its products supporting the ongoing subscription growth.

SIRI Sirius XM
$7.30

0.02 (0.27%)

04/04/18
GABE
04/04/18
INITIATION
Target $130
GABE
Hold
Spotify initiated with a Hold at Gabelli
Gabelli analyst John Tinker started Spotify (SPOT) with a Hold rating and $130 price target, estimating that the owner of the world's largest streaming subscription service will generate EUR5.2B of revenue and negative EBITDA of (EUR232M) in 2018. He recommends Pandora Media (P) instead, which he said can be bought for a discount to the $10.50 price paid by Liberty controlled SiriusXM (SIRI) and has the option of eventually launching as a free advertising service in Sirius' 70M satellite radio installed cars.
05/07/18
BUCK
05/07/18
DOWNGRADE
BUCK
Neutral
SiriusXM downgraded to Neutral from Buy at Buckingham
05/07/18
05/07/18
DOWNGRADE
Target $7.25

Neutral
SiriusXM downgraded to Neutral on Liberty SiriusXM alternative at Buckingham
As previously reported, Buckingham analyst Matthew Harrigan downgraded SiriusXM (SIRI) to Neutral from Buy. He said his downgrade is not predicated on any view on a change in fundamentals at Sirius, but rather is due to the availability of Liberty SiriusXM (LSXMA) as a "near pure play" alternative trading at a "remarkable" 33% discount. In conjunction with the downgrade of SiriusXM, Harrigan increased his price target on the stock to $7.25 from $7.
05/07/18
05/07/18
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. Parker-Hannifin (PH) downgraded to In Line from Outperform at Evercore ISI. 2. Flir Systems (FLIR) downgraded to Hold from Buy at Drexel Hamilton with the firm citing valuation. 3. Buckeye Partners (BPL) downgraded to Neutral from Buy at Citi with analyst Eric Genco saying he sees the company's "financial recovery story turning into a longer story than expected." 4. Shake Shack (SHAK) downgraded to Underweight from Neutral at JPMorgan with analyst John Ivankoe citing valuation. 5. SiriusXM (SIRI) downgraded to Neutral from Buy at Buckingham with analyst Matthew Harrigan saying his downgrade is not predicated on any view on a change in fundamentals at Sirius, but rather is due to the availability of Liberty SiriusXM (LSXMA) as a "near pure play" alternative trading at a "remarkable" 33% discount. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

VSTM

Verastem

$8.89

0.22 (2.54%)

15:51
09/24/18
09/24
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15:51
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JBL

Jabil

$30.11

0.25 (0.84%)

15:50
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Jabil options volume is 12X daily average ahead of earnings »

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TDOC

Teladoc

$78.35

0.25 (0.32%)

15:42
09/24/18
09/24
15:42
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15:42
Conference/Events
Teladoc to host investor day »

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CWH

Camping World

$20.48

-1.59 (-7.20%)

15:40
09/24/18
09/24
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15:40
Options
Closing call option block in Camping World as shares retreat »

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SEAS

SeaWorld

$29.91

-0.19 (-0.63%)

15:35
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15:35
Options
SeaWorld put volume heavy and directionally bearish »

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WMT

Walmart

$95.05

-0.8 (-0.83%)

, IBM

IBM

$149.98

-1.31 (-0.87%)

15:31
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15:31
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15:31
Periodicals
Walmart requires lettuce, spinach suppliers to join blockchain, WSJ reports »

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WMT

Walmart

$95.05

-0.8 (-0.83%)

IBM

IBM

$149.98

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FL

Foot Locker

$47.57

-0.71 (-1.47%)

15:25
09/24/18
09/24
15:25
09/24/18
15:25
Options
Foot Locker call volume above normal and directionally bullish »

Bullish option flow…

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CDNA

CareDx

$26.73

0.75 (2.89%)

, NTRA

Natera

$23.95

-0.23 (-0.95%)

15:25
09/24/18
09/24
15:25
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15:25
Conference/Events
Piper Jaffray biotech analysts to hold an analyst/industry conference call »

Biotech Analysts discuss…

CDNA

CareDx

$26.73

0.75 (2.89%)

NTRA

Natera

$23.95

-0.23 (-0.95%)

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SBUX

Starbucks

$56.91

-0.49 (-0.85%)

15:24
09/24/18
09/24
15:24
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15:24
Periodicals
Starbucks plans 'significant changes' to company structure, Bloomberg says »

Starbucks is planning an…

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  • 13

    Dec

TMK

Torchmark

$88.45

-0.51 (-0.57%)

15:17
09/24/18
09/24
15:17
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15:17
Syndicate
Breaking Syndicate news story on Torchmark »

Torchmark files automatic…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
09/24/18
09/24
15:17
09/24/18
15:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
09/24/18
09/24
15:16
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15:16
Technical Analysis
NYSE market internals summary »

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WMT

Walmart

$95.09

-0.76 (-0.79%)

15:10
09/24/18
09/24
15:10
09/24/18
15:10
Periodicals
Walmart requires lettuce, spinach suppliers to join blockchain, WSJ reports »

In a letter to suppliers,…

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WFC

Wells Fargo

$54.35

-0.6 (-1.09%)

15:10
09/24/18
09/24
15:10
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15:10
Options
Wells Fargo with a notable option spread as shares slip »

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BSX

Boston Scientific

$38.37

0.61 (1.62%)

15:05
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Options
Boston Scientific call volume above normal and directionally bullish »

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  • 24

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SWCH

Switch

$10.83

-0.23 (-2.08%)

, INTC

Intel

$46.92

0.28 (0.60%)

15:04
09/24/18
09/24
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15:04
Hot Stocks
Intel Capital sells about 1.728M shares of Switch »

According to a regulatory…

SWCH

Switch

$10.83

-0.23 (-2.08%)

INTC

Intel

$46.92

0.28 (0.60%)

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MTNB

Matinas BioPharma

$0.55

0.1392 (33.98%)

, AMRN

Amarin

$11.62

8.62 (287.33%)

15:03
09/24/18
09/24
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15:03
Recommendations
Matinas BioPharma, Amarin analyst commentary  »

Amarin's Vascepa…

MTNB

Matinas BioPharma

$0.55

0.1392 (33.98%)

AMRN

Amarin

$11.62

8.62 (287.33%)

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15:00
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General news
Treasury Closing Summary: »

Treasury Closing Summary:…

KOS

Kosmos

$9.45

-0.06 (-0.63%)

14:58
09/24/18
09/24
14:58
09/24/18
14:58
Hot Stocks
Breaking Hot Stocks news story on Kosmos »

First Reserve GP XIII…

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SWCH

Switch

$10.76

-0.3 (-2.71%)

14:58
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14:58
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14:58
Conference/Events
Switch management to meet with Jefferies »

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CGC

Canopy Growth

$52.68

2.92 (5.87%)

, CVSI

CV Sciences

$0.00

(0.00%)

14:55
09/24/18
09/24
14:55
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14:55
Hot Stocks
NY Governor signs bill adding pain management as condition for medical marijuana »

New York Governor Andrew…

CGC

Canopy Growth

$52.68

2.92 (5.87%)

CVSI

CV Sciences

$0.00

(0.00%)

ACBFF

Aurora Cannabis

$0.00

(0.00%)

CRON

Cronos Group

$11.80

-0.71 (-5.68%)

TLRY

Tilray

$105.00

-18.155 (-14.74%)

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  • 13

    Oct

SBUX

Starbucks

$56.88

-0.52 (-0.91%)

14:50
09/24/18
09/24
14:50
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14:50
Periodicals
Starbucks plans 'significant changes' to company structure, Bloomberg says »

Starbucks'…

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  • 13

    Dec

RRGB

Red Robin

$38.65

-0.55 (-1.40%)

14:50
09/24/18
09/24
14:50
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14:50
Conference/Events
Red Robin management to meet with Jefferies »

Meeting to be held in San…

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  • 24

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ASNA

Ascena Retail

$3.94

-0.29 (-6.86%)

14:49
09/24/18
09/24
14:49
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14:49
Options
Ascena Retail options imply 24.3% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 24

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AMRN

Amarin

$11.13

8.13 (271.00%)

, SNY

Sanofi

$43.33

-0.28 (-0.64%)

14:48
09/24/18
09/24
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09/24/18
14:48
Hot Stocks
Amarin CEO says Vascepa 'more analogous' to statins than PCSK9 inhibitors »

Amarin CEO John Thero…

AMRN

Amarin

$11.13

8.13 (271.00%)

SNY

Sanofi

$43.33

-0.28 (-0.64%)

REGN

Regeneron

$388.88

-1.67 (-0.43%)

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