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CPRT

Copart

$58.30

-1.6 (-2.67%)

, DPS

Ticker changed to KDP

$121.99

-0.195 (-0.16%)

18:25
06/25/18
06/25
18:25
06/25/18
18:25

S&P announces changes to S&P 400, 500 indices

S&P MidCap 400 constituent Copart (CPRT) will replace Dr Pepper Snapple Group (DPS) in the S&P 500, and Exelixis (EXEL) will replace Copart in the S&P MidCap 400 effective prior to the open of trading on Monday, July 2. Dr Pepper Snapple Group, which is merging with privately held Keurig Green Mountain, is changing its name to Keurig Dr Pepper and its ticker symbol (KDP) in a transaction expected to be completed soon. The newly combined company will no longer be eligible for inclusion in the S&P 500 as its Investable Weight Factor, which measures the percentage of free float available to the public, is expected to fall well below the 50% eligibility threshold needed for continued inclusion in the index.

CPRT

Copart

$58.30

-1.6 (-2.67%)

DPS

Ticker changed to KDP

$121.99

-0.195 (-0.16%)

EXEL

Exelixis

$19.55

-0.52 (-2.59%)

  • 14

    Jan

CPRT Copart
$58.30

-1.6 (-2.67%)

03/23/18
03/23/18
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. American Eagle (AEO) initiated with a Buy at Loop Capital. 2. GoDaddy (GDDY) initiated with a Buy at Goldman Sachs while Wix.com (WIX) was initiated with a Neutral. 3. KAR Auction (KAR) and Copart (CPRT) were initiated with a Buy at SunTrust while Monro (MNRO) was initiated with a Hold. 4. Talend (TLND) initiated with a Buy at Needham. 5. Sun Hydraulics (SNHY) initiated with a Buy at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/23/18
RHCO
03/23/18
INITIATION
Target $58
RHCO
Buy
Copart initiated with a Buy at SunTrust
As reported earlier, SunTrust analyst Stephanie Benjamin initiated Copart with a Buy rating and a price target of $58. Benjamin cites the company's 40% market share, "above-peer margin profile", and consistent high single digit or more volume growth. The analyst expects Copart to continue executing amid favorable industry trends with rising revenue per unit and ongoing international expansion.
03/22/18
RHCO
03/22/18
INITIATION
Target $58
RHCO
Buy
Copart initiated with a Buy at SunTrust
SunTrust initiated Copart with a Buy and $58 price target.
05/18/18
SPHN
05/18/18
DOWNGRADE
Target $54
SPHN
Equal Weight
Copart downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Ben Beinvenu downgraded Copart to Neutral citing recent run in shares and maintained a $54 price target.
DPS Ticker changed to KDP
$121.99

-0.195 (-0.16%)

03/21/18
BMOC
03/21/18
NO CHANGE
Target $122
BMOC
Market Perform
Dr Pepper Snapple analyst day profiled rising coffee consumption, says BMO
BMO Capital analyst Amit Sharma keeps his Market Perform rating and $122 price target on Keurig Dr Pepper but notes that the company's analyst day has positioned it as an "attractive play" amid rising coffee consumption in multiple categories, formats, and channels. Sharma adds that despite his neutral stance on the stock, he is more positive about the company's ability to produce the $600M in cost synergies while also pointing to further margin expansion in the standalone Keurig Green Mountain business.
06/19/18
06/19/18
DOWNGRADE
Target $122

Hold
Dr Pepper downgraded to Hold on limited Keurig potential seen at Stifel
As previously reported, Stifel downgraded Dr Pepper Snapple to Hold from Buy, with analyst Mark Swartzberg telling investors that the more he learns about Keurig Green Mountain, the more he is convinced it has "limited capacity for operating income growth." The analyst, who recently reduced his Dr Pepper forecasts for higher packaging and logistics costs, has also lowered his KGM forecasts after reviewing a series of public filings. He keeps a price target of $122 on Dr Pepper shares to account for his 12-month stub target of $18.25 per share and the $103.75 special cash dividend that is scheduled to be paid.
06/18/18
STFL
06/18/18
DOWNGRADE
STFL
Hold
Dr Pepper Snapple downgraded to Hold from Buy at Stifel
06/19/18
06/19/18
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. Mattel (MAT) downgraded to Neutral from Buy at UBS with analyst Arpine Kocharyan citing the stock's recent 35% appreciation with little change in fundamentals. 2. F5 Networks (FFIV) downgraded to Neutral from Buy at Citi with analyst Jim Suva saying with the stock up 38% year-to-date, the company's price-to-earnings valuation multiple has increased from 14.8 times at the start of the year to 17.8 times. 3. Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Stifel with analyst Mark Swartzberg saying the more he learns about Keurig Green Mountain, the more he is convinced it has "limited capacity for operating income growth." 4. Red Hat (RHT) downgraded to Market Perform from Outperform at Raymond James with analyst Michael Turits saying shares are at peak valuation and the company is facing a difficult NTM growth outlook. 5. AT&T (T) downgraded to a Neutral after resuming coverage from Overweight at JPMorgan with analyst Philip Cusick saying he believes reversal of the Time Warner acquisition by the Department of Justice is "very unlikely" and would not be surprised to see AT&T shares "rebound fairly quickly after a period of deal-related flowback." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
EXEL Exelixis
$19.55

-0.52 (-2.59%)

05/23/18
RBCM
05/23/18
NO CHANGE
RBCM
Exelixis pullback today a buying opportunity, says RBC Capital
RBC Capital analyst Kennen MacKay attributes the selloff today in shares of Exelixis to April total prescription data from Symphony. The analyst notes, however, that his analysis indicates the Symphony totals for April are well below those of IMS, implying prescription declines from March to April are not seen in IMS data. While the flat month-to-month growth from may be viewed as concerning for Cabo's continued uptake in first-line renal cell carcinoma post approval and launch of competitor Opdivo plus Yervoy in mid-April, March represented an "especially strong month," MacKay tells investors in a research note. He remains a buyer of Exelixis shares on today's weakness.
05/10/18
STFL
05/10/18
NO CHANGE
STFL
Hold
Exelixis pullback may create interesting entry point, says Stifel
After Exelixis (EXEL) and partner Roche (RHHBY) announced the Phase 3 IMblaze370 trial did not achieve statistical-significance on the primary efficacy endpoint evaluating the ability of a combination of a MEK inhibitor and anti-PD-L1 to improve overall survival in patients with microsatellite stable metastatic colorectal cancer, Stifel analyst Stephen Willey said he believes attrition in Exelixis shares might create an interesting entry point. The failure of IMblaze370 removes some of Exelixis' longer-term optionality and he expects topics of RCC growth/competition, label expansion, and longer-term cabozantinib exclusivity to remain core to the story going forward, said Willey who has a Hold rating on the stock. Array BioPharma (ARRY) also has Phase 1/2 development collaborations in place with both Bristol-Myers (BMY) and Merck (MRK) evaluating the MEK/PD-1 hypothesis in earlier-lines of MSS mCRC, noted Willey, who said he would "be opportunistic" on any weakness in its shares. He maintains a Buy rating on Array, which is down 5% in pre-market trading.
05/10/18
PIPR
05/10/18
NO CHANGE
Target $29
PIPR
Overweight
Exelixis price target lowered to $29 from $33 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target on Exelixis (EXEL) to $29 from $33 after partner Roche (RHHBY) reported the Phase 3 IMblaze370 trial in microsatellite stable colorectal cancer patients did not meet its overall survival primary endpoint. However, the data do not impact two ongoing Phase 3 trials of cobimetinib and Tecentriq in BRAF-mutant melanoma, said Tenthoff, who keeps an Overweight rating on Exelixis shares.
05/23/18
RBCM
05/23/18
NO CHANGE
RBCM
Exelixis shares defended at RBC Capital

TODAY'S FREE FLY STORIES

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S&P 500

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09:18
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09:18
Options
Overnight activity included 128 trades in SPX and 19 trades in VIX »

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PINC

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OPTT

Ocean Power

$0.76

0.0501 (7.06%)

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E

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SODA

SodaStream

$129.89

1.12 (0.87%)

, PEP

PepsiCo

$114.98

0.7 (0.61%)

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News Corp

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AKAO

Achaogen

$5.91

0.21 (3.68%)

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TSLA

Tesla

$305.33

-30.13 (-8.98%)

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RADA

RADA Electronic

$2.52

-0.02 (-0.79%)

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09:10
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General news
FX Action: USD-JPY »

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LTBR

Lightbridge

$0.87

0.004 (0.46%)

09:08
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AAPL

Apple

$217.65

4.16 (1.95%)

09:05
08/20/18
08/20
09:05
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09:05
Downgrade
Apple rating change  »

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09:05
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Treasury Action: yields have extended early declines »

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JCP

J.C. Penney

$1.79

0.025 (1.42%)

09:04
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ICHR

Ichor Holdings

$21.32

-0.57 (-2.60%)

09:04
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IVAC

Intevac

$5.03

0.225 (4.69%)

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Intevac announces $10M expansion of existing $30M share repurchase program »

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BXP

Boston Properties

$132.14

0.5 (0.38%)

09:02
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RICK

RCI Hospitality

$32.61

0.36 (1.12%)

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GWRE

Guidewire

$95.23

-1.47 (-1.52%)

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AAPL

Apple

$217.65

4.16 (1.95%)

, TSLA

Tesla

$305.33

-30.13 (-8.98%)

08:55
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08/20
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08/20/18
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Options
Notable open interest changes for August 20th »

Friday's total…

AAPL

Apple

$217.65

4.16 (1.95%)

TSLA

Tesla

$305.33

-30.13 (-8.98%)

BABA

Alibaba

$172.76

0.78 (0.45%)

FB

Facebook

$173.78

-0.98 (-0.56%)

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PAY

Verifone

$23.04

0.01 (0.04%)

08:54
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Hot Stocks
Breaking Hot Stocks news story on Verifone »

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LQDA

Liquidia Technologies

$14.30

-0.12 (-0.83%)

08:52
08/20/18
08/20
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08:52
Initiation
Liquidia Technologies initiated  »

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F

Ford

$9.56

0.04 (0.42%)

08:51
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08:51
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Ford analyst commentary  »

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  • 31

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TNDM

TNDM

, DXCM

DexCom

$130.93

2.61 (2.03%)

08:51
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08/20
08:51
08/20/18
08:51
Recommendations
TNDM, DexCom analyst commentary  »

Tandem Diabetes price…

TNDM

TNDM

DXCM

DexCom

$130.93

2.61 (2.03%)

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08:50
08/20/18
08/20
08:50
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General news
Fedspeak from Atlanta Fed dove Bostic »

Fedspeak from Atlanta Fed…

VERI

Veritone

$11.41

0.11 (0.97%)

08:49
08/20/18
08/20
08:49
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08:49
Conference/Events
Veritone to hold a conference call »

Management discusses the…

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  • 20

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VMC

Vulcan Materials

$110.31

0.46 (0.42%)

08:47
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08:47
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