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SIRI

Sirius XM

$6.65

-0.3 (-4.32%)

, LYV

Live Nation

$47.02

-0.759 (-1.59%)

07:01
06/28/18
06/28
07:01
06/28/18
07:01

JPMorgan views potential SiriusXM, Live Nation deal as unlikely

JPMorgan analyst Sebastiano Petti raised his price target for SiriusXM Radio to $6 from $5 while maintaining an Underweight rating on the shares. The analyst continues to view the valuation as full amid his expectations for slower growth in the years ahead as the business matures. Moderating subscriber gains and a more competitive steaming music landscape have led SiriusXM to explore investments in adjacent platforms in order to fuel additional growth, Petti tells investors in a research note. The analyst, however, does not see the industrial logic of potentially combining SiriusXM with Live Nation (LYV), something he notes that parent Liberty Media has suggested in the past. Petti sees a near-term deal as unlikely and also does not see SiriusXM as a potential takeover target.

SIRI

Sirius XM

$6.65

-0.3 (-4.32%)

LYV

Live Nation

$47.02

-0.759 (-1.59%)

LSXMA

Liberty SiriusXM

$44.27

-1.06 (-2.34%)

SIRI Sirius XM
$6.65

-0.3 (-4.32%)

06/22/18
SBSH
06/22/18
NO CHANGE
Target $56
SBSH
Buy
Citi sees 'several signs' of SiriusXM possibly acquiring Live Nation
"Several signs" suggest a SiriusXM (SIRI) acquisition of Live Nation (LYN) is possible, including Liberty suggesting that synergies are possible among the firms it owns, Citi analyst Jason Bazinet tells investors in a research note. A combination would create a "vertically integrated music titan" with "several strategic benefits," Bazinet contends. Further, he believes the likelihood of legal approval is high since the deal "would be a clean vertical merger." He raised his price target for Live Nation shares to $56 from $45 and keeps a Buy rating on the name. Bazinet also upped his price target for Neutral-rated SiriusXM to $7.15 from $6.65.
06/26/18
LEHM
06/26/18
DOWNGRADE
LEHM
Underweight
SiriusXM downgraded to Underweight from Equal Weight at Barclays
06/26/18
LEHM
06/26/18
DOWNGRADE
Target $5
LEHM
Underweight
SiriusXM downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Kannan Venkateshwar downgraded SiriusXM (SIRI) to Underweight from Equal Weight and maintained a $5 price target, telling investors in a research note that while the company's execution remains "exceptional," he believes the company is now in a much more mature phase of its growth cycle and the story is changing. Additionally, the analyst says the room to buy back more stock is likely to become "constrained," margin expansion may become tougher, competitive pressures are likely to increase and M&A may become a bigger priority. The analyst also downgraded Liberty SiriusXM (LSXMA) to Equal Weight.
06/26/18
LEHM
06/26/18
DOWNGRADE
Target $43
LEHM
Equal Weight
Liberty SiriusXM downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Kannan Venkateshwar downgraded Liberty SiriusXM (LSXMA) to Equal Weight from Overweight and cut his price target to $43 from $50, telling investors in a research note that while he has recommended the stock over SiriusXM (SIRI), which was downgraded this morning to Underweight from Equal Weight, given the changing story in SiriusXM equity and its valuation, the current ~30% NAV discount may close due to SiruxXM coming down rather than Liberty SiriusXM going up. The analyst said it is "not surprising" Liberty has been looking at other uses of cash such as iHeart (IHRT) instead of buying more stock.
LYV Live Nation
$47.02

-0.759 (-1.59%)

04/10/18
04/10/18
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. Ulta Beauty (ULTA) upgraded to Overweight from Neutral at Piper Jaffray with analyst Erinn Murphy citing Piper's 35th semi-annual teens survey in which Ulta Beauty overtook Sephora as the top brand for average-income teens. 2. Nvidia (NVDA) and Seagate (STX) were upgraded to Overweight from Equal Weight at Morgan Stanley. 3. Live Nation (LYV) upgraded to Buy from Neutral at Citi with analyst Jason Bazinet saying the stock has sold off after the New York Times reported that the Department of Justice is investigating the company for antitrust violations. 4. Becton Dickinson (BDX) upgraded to Buy from Neutral at Citi with analyst Amit Hazan saying he sees a "strong setup" for upside to estimates in fiscal 2018, largely driven by the Becton Dickinson side of the business. 5. Illinois Tool Works (ITW) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Joe Ritchie saying the pullback in shares due to auto concerns provides an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/18
NRCS
04/23/18
UPGRADE
NRCS
Buy
Live Nation upgraded to Buy from Neutral at Northcoast
05/04/18
EVER
05/04/18
UPGRADE
EVER
Outperform
Live Nation upgraded to Outperform from In Line at Evercore ISI
LSXMA Liberty SiriusXM
$44.27

-1.06 (-2.34%)

06/26/18
LEHM
06/26/18
DOWNGRADE
LEHM
Equal Weight
Liberty SiriusXM downgraded to Equal Weight from Overweight at Barclays

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QEP

QEP Resources

$11.47

0.11 (0.97%)

13:10
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Options
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VZ

Verizon

$53.49

-0.06 (-0.11%)

, MS

Morgan Stanley

$48.50

-0.06 (-0.12%)

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VZ

Verizon

$53.49

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MS

Morgan Stanley

$48.50

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ELAN

Elanco

$34.71

-0.19 (-0.54%)

13:01
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BP

BP

$46.36

1.135 (2.51%)

12:59
09/25/18
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12:59
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12:59
Periodicals
BP CEO sees larger impact from Iran oil sanctions than last time, Bloomberg says »

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12:55
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General news
Treasury 5-year auction preview: the auction should go ok »

Treasury 5-year auction…

AOBC

American Outdoor Brands

$15.57

0.37 (2.43%)

12:52
09/25/18
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12:52
Periodicals
American Outdoor investors approve call for gun safety report, Reuters says »

Investors at American…

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XLU

Utilities SPDR

$51.81

-0.765 (-1.46%)

12:50
09/25/18
09/25
12:50
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12:50
Options
Sizable ratio spread opened in the SPDR Utility Fund »

Sizable ratio spread…

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GSK

GlaxoSmithKline

$40.57

0.37 (0.92%)

12:48
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Hot Stocks
GSK study says vaccine reduced incidence of tuberculosis in HIV negative adults »

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ACAD

Acadia

$21.58

1.735 (8.74%)

12:45
09/25/18
09/25
12:45
09/25/18
12:45
Options
Acadia call volume above normal and directionally bullish »

Bullish option flow…

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  • 01

    Oct

ADP

ADP

$150.41

1.29 (0.87%)

, PAYX

Paychex

$75.26

0.7 (0.94%)

12:44
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09/25
12:44
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12:44
Hot Stocks
ADP, Paychex slip after Square introduces new payroll app »

Shares of traditional…

ADP

ADP

$150.41

1.29 (0.87%)

PAYX

Paychex

$75.26

0.7 (0.94%)

SQ

Square

$92.25

6.19 (7.19%)

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T

AT&T

$33.99

0.08 (0.24%)

, ERIC

Ericsson

$9.10

0.13 (1.45%)

12:44
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AT&T, Ericsson team up on IoT cybersecurity »

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T

AT&T

$33.99

0.08 (0.24%)

ERIC

Ericsson

$9.10

0.13 (1.45%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$291.35

0.26 (0.09%)

12:44
09/25/18
09/25
12:44
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12:44
Periodicals
USTR says Canada not making necessary concessions for new NAFTA, Reuters says »

U.S. Trade Representative…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$291.35

0.26 (0.09%)

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D

Dominion

$69.54

-0.54 (-0.77%)

12:40
09/25/18
09/25
12:40
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12:40
Periodicals
Dominion does not see court order delaying Atlantic Coast pipe, Reuters says »

Dominion Energy said it…

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  • 11

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MDR

McDermott

$18.75

0.36 (1.96%)

12:38
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McDermott awarded contract by Bayport Polymers for new polyethylene plant »

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  • 25

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T

AT&T

$33.98

0.07 (0.21%)

, ATUS

Altice USA

$18.69

0.07 (0.38%)

12:36
09/25/18
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12:36
Hot Stocks
AT&T launches new advertising company called Xandr »

AT&T (T) announced…

T

AT&T

$33.98

0.07 (0.21%)

ATUS

Altice USA

$18.69

0.07 (0.38%)

FTR

Frontier Communications

$6.49

(0.00%)

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SQ

Square

$92.04

5.975 (6.94%)

12:34
09/25/18
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12:34
Hot Stocks
Square introduces new payroll app for employers »

Square said in a…

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ULTA

Ulta Beauty

$277.98

-3.03 (-1.08%)

12:32
09/25/18
09/25
12:32
09/25/18
12:32
Conference/Events
Cowen retail/luxury analyst to hold an analyst/industry conference call »

Retail/Luxury Analyst…

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  • 25

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ILIAF

Iliad

$0.00

(0.00%)

12:30
09/25/18
09/25
12:30
09/25/18
12:30
Downgrade
Iliad rating change  »

Iliad downgraded to…

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EXP

Eagle Materials

$86.54

0.08 (0.09%)

12:27
09/25/18
09/25
12:27
09/25/18
12:27
Periodicals
Breaking Periodicals news story on Eagle Materials »

Hedgeye adds Eagle…

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  • 26

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EA

Electronic Arts

$115.78

0.52 (0.45%)

, MSFT

Microsoft

$114.29

-0.43 (-0.37%)

12:26
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Hot Stocks
Game On: Sony launching PlayStation Classic in December »

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EA

Electronic Arts

$115.78

0.52 (0.45%)

MSFT

Microsoft

$114.29

-0.43 (-0.37%)

SNE

Sony

$58.61

1.75 (3.08%)

NTDOY

Nintendo

$0.00

(0.00%)

SGAMY

Sega Sammy Holdings

$0.00

(0.00%)

CCOEY

Capcom

$0.00

(0.00%)

UBSFY

Ubisoft

$0.00

(0.00%)

TTWO

Take-Two

$135.22

0.35 (0.26%)

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DDD

3D Systems

$20.19

1 (5.21%)

12:25
09/25/18
09/25
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12:25
Options
3D Systems call volume above normal and directionally bullish »

Bullish option flow…

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  • 11

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MDWD

MediWound

$6.45

(0.00%)

12:23
09/25/18
09/25
12:23
09/25/18
12:23
Recommendations
MediWound analyst commentary  »

MediWound BARDA contract…

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  • 11

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KORS

Michael Kors

$67.12

0.41 (0.61%)

, SONC

Sonic

$43.31

6.7 (18.30%)

12:22
09/25/18
09/25
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12:22
General news
Fly Intel: Wall Street's top stories at midday »

Stocks opened in positive…

KORS

Michael Kors

$67.12

0.41 (0.61%)

SONC

Sonic

$43.31

6.7 (18.30%)

BMWYY

BMW

$0.00

(0.00%)

F

Ford

$9.49

-0.1 (-1.04%)

GM

General Motors

$34.00

-0.74 (-2.13%)

FCAU

Fiat Chrysler

$18.10

-0.21 (-1.15%)

XOXO

XO Group

$34.75

7.13 (25.81%)

ASNA

Ascena Retail

$4.46

0.44 (10.95%)

TGTX

TG Therapeutics

$5.98

-3.275 (-35.41%)

CTL

CenturyLink

$21.13

-1.77 (-7.73%)

TMUS

T-Mobile

$69.28

0.35 (0.51%)

S

Sprint

$6.42

0.03 (0.47%)

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