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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%)

06/26/18
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.
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
LEHM
Underweight
SiriusXM downgraded to Underweight from Equal Weight at Barclays
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.
LYV Live Nation
$47.02

-0.759 (-1.59%)

05/04/18
EVER
05/04/18
UPGRADE
EVER
Outperform
Live Nation upgraded to Outperform from In Line at Evercore ISI
04/23/18
NRCS
04/23/18
UPGRADE
NRCS
Buy
Live Nation upgraded to Buy from Neutral at Northcoast
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.
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

TODAY'S FREE FLY STORIES

NVS

Novartis

$87.74

0.52 (0.60%)

, DBVT

DBV Technologies

$16.70

0.31 (1.89%)

04:55
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NVS

Novartis

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DBVT

DBV Technologies

$16.70

0.31 (1.89%)

REGN

Regeneron

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3.56 (1.04%)

SHPG

Shire

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TEVA

Teva

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SNY

Sanofi

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0.56 (1.26%)

GSK

GlaxoSmithKline

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AZN

AstraZeneca

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CHD

Church & Dwight

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Boston Scientific

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PDVW

pdvWireless

$39.84

0.06 (0.15%)

16:30
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0.23 (0.40%)

16:28
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CBS management to meet with Morgan Stanley »

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THS

TreeHouse

$51.92

0.72 (1.41%)

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Conagra Brands

$33.09

0.66 (2.04%)

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Treehouse Foods stock may have room to gain, Barron's says »

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TreeHouse

$51.92

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Conagra Brands

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0.66 (2.04%)

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AMGN

Amgen

$194.23

1.83 (0.95%)

12:51
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Amgen may be 'a remedy' for tougher times, Barron's says »

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AAPL

Apple

$193.42

2 (1.04%)

, LITE

Lumentum

$41.50

0.46 (1.12%)

12:47
11/17/18
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12:47
Periodicals
Apple stock could continue to slide, Barron's says »

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AAPL

Apple

$193.42

2 (1.04%)

LITE

Lumentum

$41.50

0.46 (1.12%)

QRVO

Qorvo

$66.32

1.18 (1.81%)

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APC

Anadarko

$56.39

0.9 (1.62%)

, RDS.B

Royal Dutch Shell

$63.97

0.19 (0.30%)

12:41
11/17/18
11/17
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12:41
Periodicals
Investors may find bargains among oil, natural gas stocks, Barron's says »

Investors have been…

APC

Anadarko

$56.39

0.9 (1.62%)

RDS.B

Royal Dutch Shell

$63.97

0.19 (0.30%)

RDS.A

Royal Dutch Shell

$62.02

0.34 (0.55%)

XOM

Exxon Mobil

$78.99

0.81 (1.04%)

CVX

Chevron

$119.14

2.18 (1.86%)

BP

BP

$40.85

-0.3 (-0.73%)

EOG

EOG Resources

$105.21

3.57 (3.51%)

OXY

Occidental Petroleum

$73.32

0.71 (0.98%)

COG

Cabot Oil & Gas

$25.73

0.09 (0.35%)

EQT

EQT Corporation

$16.62

-0.55 (-3.20%)

HAL

Halliburton

$32.46

0.02 (0.06%)

SLB

Schlumberger

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0.17 (0.35%)

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LB

L Brands

$35.28

-0.41 (-1.15%)

, JCP

J.C. Penney

$1.29

-0.08 (-5.84%)

12:34
11/17/18
11/17
12:34
11/17/18
12:34
Periodicals
Kohl's, Target set to thrive this holiday season, Barron's says »

Store chains have been…

LB

L Brands

$35.28

-0.41 (-1.15%)

JCP

J.C. Penney

$1.29

-0.08 (-5.84%)

TJX

TJX

$51.47

-0.98 (-1.87%)

BBY

Best Buy

$66.41

-1.34 (-1.98%)

TIF

Tiffany

$106.48

0.52 (0.49%)

HD

Home Depot

$177.11

-0.25 (-0.14%)

TGT

Target

$79.67

-1.09 (-1.35%)

KSS

Kohl's

$72.48

-0.7 (-0.96%)

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

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T

AT&T

$30.30

0.18 (0.60%)

, FOX

21st Century Fox

$47.73

-0.1 (-0.21%)

09:18
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OnTheFly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

T

AT&T

$30.30

0.18 (0.60%)

FOX

21st Century Fox

$47.73

-0.1 (-0.21%)

FOXA

21st Century Fox

$48.18

-0.11 (-0.23%)

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

CMCSA

Comcast

$38.60

0.11 (0.29%)

CMCSK

Comcast

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.46

-0.12 (-0.72%)

F

Ford

$9.05

-0.26 (-2.79%)

GM

General Motors

$35.76

0.21 (0.59%)

HMC

Honda

$28.21

0.01 (0.04%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$116.87

-0.02 (-0.02%)

VLKAY

Volkswagen

$0.00

(0.00%)

NYT

New York Times

$26.30

-0.2 (-0.75%)

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NVS

Novartis

$87.74

0.52 (0.60%)

, DBVT

DBV Technologies

$16.70

0.31 (1.89%)

04:55
11/17/18
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04:55
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04:55
Conference/Events
American College of Allergy, Asthma & Immunology to hold a meeting »

2018 ACAAI Meeting will…

NVS

Novartis

$87.74

0.52 (0.60%)

DBVT

DBV Technologies

$16.70

0.31 (1.89%)

REGN

Regeneron

$345.10

3.56 (1.04%)

SHPG

Shire

$175.59

-3.39 (-1.89%)

TEVA

Teva

$22.25

-0.37 (-1.64%)

SNY

Sanofi

$45.11

0.56 (1.26%)

GSK

GlaxoSmithKline

$40.35

-0.06 (-0.15%)

AZN

AstraZeneca

$40.67

-0.685 (-1.66%)

CHD

Church & Dwight

$65.42

-0.39 (-0.59%)

BSX

Boston Scientific

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MSI

Motorola Solutions

$129.97

0.72 (0.56%)

18:48
11/16/18
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Hot Stocks
Motorola Solutions: ITC confirms Hytera products infringe Motorola patents »

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PCG

PG&E

$24.39

6.62 (37.25%)

18:23
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Periodicals
CPUC isn't ruling out board shuffle, breakup for PG&E, Bloomberg says »

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ABX

Barrick Gold

$13.04

0.05 (0.38%)

18:00
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Periodicals
Barrick Gold looking to add more copper, bullion assets, Reuters reports »

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WTR

Aqua America

$33.05

0.165 (0.50%)

17:57
11/16/18
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Hot Stocks
Aqua America CEO acquires over 25,000 common shares »

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XLRE

Real Estate SPDR

$33.45

0.445 (1.35%)

, XLB

S&P Select Materials SPDR

$55.23

0.53 (0.97%)

17:39
11/16/18
11/16
17:39
11/16/18
17:39
General news
Week ending ETF scorecard: Real Estate leads, Consumer Discretionary slumps »

S&P500 SECTORS: Real…

XLRE

Real Estate SPDR

$33.45

0.445 (1.35%)

XLB

S&P Select Materials SPDR

$55.23

0.53 (0.97%)

XLU

Utilities SPDR

$54.86

0.77 (1.42%)

XLI

Industrial Select Sector SPDR

$72.00

(0.00%)

XLV

Health Care Select Sector SPDR

$92.05

0.91 (1.00%)

XLF

Financial Select Sector

$26.78

0.03 (0.11%)

XLP

Consumer Staples Sector SPDR

$56.04

0.15 (0.27%)

XLE

Energy Select Sector SPDR

$67.23

0.76 (1.14%)

XLC

Communication Services Select Sector SPDR Fund

$44.88

-0.2 (-0.44%)

XLK

Technology Select Sector SPDR

$68.22

-0.1 (-0.15%)

XLY

Consumer Discretionary Sector SPDR

$106.37

-0.43 (-0.40%)

GLD

SPDR Gold Shares

$115.56

0.82 (0.71%)

SLV

iShares Silver Trust

$13.55

0.115 (0.86%)

USO

United States Oil Fund

$12.07

0.08 (0.67%)

UNG

United States Natural Gas Fund

$35.43

3.63 (11.42%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$83.24

-0.27 (-0.32%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$111.73

0.23 (0.21%)

TLT

iShares 20+ Year Treasury Bond Fund

$114.65

0.61 (0.53%)

IEF

iShares 7-10 Year Treasury Bond ETF

$101.13

0.3 (0.30%)

SHY

iShares 1-3 Year Treasury Bond

$83.13

0.08 (0.10%)

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AQST

Aquestive Therapeutics

$17.02

0.23 (1.37%)

17:36
11/16/18
11/16
17:36
11/16/18
17:36
Hot Stocks
Aquestive receives CRL from FDA for tadalafil oral film »

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DAKT

Daktronics

$7.67

0.07 (0.92%)

17:35
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17:35
Hot Stocks
Daktronics adopts new shareholder rights agreement »

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  • 21

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TI

Telecom Italia

$6.02

0.12 (2.03%)

17:33
11/16/18
11/16
17:33
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17:33
Periodicals
Gubitosi viewed as frontrunner for Telecom Italia CEO job, Reuters says »

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MAXR

Maxar Technologies

$18.77

-0.59 (-3.05%)

17:30
11/16/18
11/16
17:30
11/16/18
17:30
Hot Stocks
Maxar Technologies shareholders approve U.S. domestication »

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PLUG

Plug Power

$1.83

(0.00%)

17:28
11/16/18
11/16
17:28
11/16/18
17:28
Syndicate
Breaking Syndicate news story on Plug Power »

Plug Power files to sell…

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GSB

GlobalSCAPE

$4.55

-0.02 (-0.44%)

17:22
11/16/18
11/16
17:22
11/16/18
17:22
Syndicate
Breaking Syndicate news story on GlobalSCAPE »

GlobalSCAPE files to sell…

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EQIX

Equinix

$388.18

2.67 (0.69%)

17:19
11/16/18
11/16
17:19
11/16/18
17:19
Hot Stocks
Equinix's Lee sells 2,792 common shares »

In a regulatory filing,…

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LMT

Lockheed Martin

$301.06

-4.42 (-1.45%)

17:17
11/16/18
11/16
17:17
11/16/18
17:17
Hot Stocks
Lockheed Martin awarded $282.09M Naval Sea Systems Command contract »

Lockheed Martin has been…

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TLGT

Teligent

$2.56

0.045 (1.79%)

17:16
11/16/18
11/16
17:16
11/16/18
17:16
Hot Stocks
Teligent receives notification of deficiency from Nasdaq »

Teligent said that on…

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STAF

Staffing 360 Solutions

$1.82

0.07 (4.00%)

17:16
11/16/18
11/16
17:16
11/16/18
17:16
Syndicate
Breaking Syndicate news story on Staffing 360 Solutions »

Staffing 360 Solutions…

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