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MO

Altria Group

$58.01

-0.26 (-0.45%)

, BTI

British American Tobacco

$52.22

0.43 (0.83%)

07:40
07/10/18
07/10
07:40
07/10/18
07:40

Juul having 'profound impact' on U.S. cigarette market, says Citi

Citi analyst Adam Spielman sees "good evidence" that Juul is impacting cigarette volumes in the U.S. and will continue to do so. The analyst is also concerned that a ban on menthol cigarettes is now more likely. Further, Juul's international expansion is "yet another factor making tobacco less predictable," Spielman tells investors in a research note. The analyst believes the share declines in Altria Group (MO), British American Tobacco (BTI), Imperial Brands (IMBBY) and Philip Morris (PM) "have been more or less fair."

MO

Altria Group

$58.01

-0.26 (-0.45%)

BTI

British American Tobacco

$52.22

0.43 (0.83%)

IMBBY

Imperial Brands

$0.00

(0.00%)

PM

Philip Morris

$82.20

-0.05 (-0.06%)

  • 19

    Jul

MO Altria Group
$58.01

-0.26 (-0.45%)

06/01/18
JEFF
06/01/18
NO CHANGE
Target $70
JEFF
Buy
Jefferies lowers Altria target to $70, remains bullish on shares
Jefferies analyst Owen Bennett lowered his price target for Altria Group to $70 from $84 to reflect market concerns about the new tobacco model. These are misplaced, but are unlikely to go away in the next 12-18 months, Bennett tells investors in a research note. The analyst sees a "near-term re-rating opportunity" and remains bullish on Altria over the next 12 months. He keeps a Buy rating on the stock.
04/30/18
04/30/18
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. Altria Group (MO) upgraded to Outperform from Sector Perform at RBC Capital with analyst Nik Modi saying while his concerns around the macro backdrop and fundamentals persist, the current valuation of 13-times forward PE is attractive relative to the broader Consumer Packaged Goods category given the company's potential catalysts of more dividend increases tracking higher interest rates and the FDA approval process for IQOS electronic cigarettes. 2. Aaron's (AAN) upgraded to Buy from Hold at Loop Capital with analyst Anthony Chukumba saying he remains "impressed" by Progressive's revenue growth and thinks the unit will benefit from Rent-A-Center's (RCII) "ongoing struggles." 3. Cirrus Logic (CRUS) upgraded to Buy from Hold at Craig-Hallum with analyst Anthony Stoss saying he believes Apple (AAPL) headwinds are already priced into the stock and a relief rally is likely following the company's upcoming earnings this Wednesday. 4. Ventas (VTR) upgraded to Market Perform from Underperform at BMO Capital with John Kim citing a more attractive valuation after the stock price came down another 19% in 2018. 5. New York Times (NYT) upgraded to Overweight from Neutral at JPMorgan with analyst Alexia Quadrani saying she believes digital demand will likely drive further "outsized growth" for New York Times. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/30/18
RBCM
04/30/18
UPGRADE
Target $65
RBCM
Outperform
Altria Group upgraded to Outperform at RBC Capital on valuation
As reported earlier, RBC Capital analyst Nik Modi upgraded Altria Group to Outperform from Sector Perform with a price target of $65. Modi notes that while his concerns around the macro backdrop and fundamentals persist, the current valuation of 13-times forward PE is attractive relative to the broader Consumer Packaged Goods category given the company's potential catalysts of more dividend increases tracking higher interest rates and the FDA approval process for IQOS electronic cigarettes.
04/30/18
RBCM
04/30/18
UPGRADE
RBCM
Outperform
Altria Group upgraded to Outperform from Sector Perform at RBC Capital
BTI British American Tobacco
$52.22

0.43 (0.83%)

03/22/18
STFL
03/22/18
NO CHANGE
Target $78
STFL
Buy
Altria Group cigarette price hike slightly ahead of expectations, says Stifel
Stifel analyst Christopher Growe noted that Altria (MO) announced that it is raising prices for its cigarettes by 9c per pack, which was slightly ahead of his 1c per pack expectations, although right in line with his expectations for timing at six months since the last increase. This increase is "quite supportive" of the company's yearly EPS growth outlook of 15%-19%, but he believes this was fully factored in Altria's guidance, Growe said. As in the past, he expects competitors Reynolds American (BTI) and Imperial Brands (IMBBY) to follow suit quickly, Growe added. He keeps a Buy rating and $78 price target on Altria shares.
03/21/18
PIPR
03/21/18
NO CHANGE
PIPR
Piper Jaffray sees no change to Tobacco operations for at least 8-12 years
The FDA yesterday issued an advance notice of proposed rulemaking to explore the costs and benefits of flavors in tobacco products, and requested public input on the topic, Piper Jaffray analyst Michael Lavery tells investors in a research note. The analyst, however, does not expect any impact to the industry's operating framework for 8-12 years or more. He believes that in addition to the "already lengthy process," a large, viable market for alternatives, such as electronic nicotine delivery systems, is a prerequisite for any changes to combustible product standards, to mitigate unintended consequences such as illicit trade. Philip Morris (PM) and Altria Group (MO) are best positioned to benefit from strength in electronic nicotine delivery systems, Lavery contends.
05/01/18
PIPR
05/01/18
DOWNGRADE
PIPR
Neutral
British American Tobacco downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Michael Lavery downgraded British American Tobacco to Neutral and lowered his price target for the shares to GBP 43 from GBP 50. Recent glo momentum is slowing in Japan as share trends are flattening, Lavery tells investors in a research note. Further, the analyst believes the company's U.S. combustible growth appears to be slowing as well.
05/01/18
05/01/18
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. Financial Engines (FNGN) downgraded to Hold from Buy at Jefferies with analyst Surinder Thind saying he does not foresee a competing bid emerging and expects the takeover by Hellman & Friedman to receive both shareholder and regulatory approval. 2. Archrock (AROC) downgraded to Neutral from Overweight at JPMorgan with analyst Andrew Burd citing valuation for the downgrade ahead of the company's first quarter results on Thursday. He sees the shares trading sideways into the summer. 3. British American Tobacco (BTI) downgraded to Neutral from Overweight at Piper Jaffray with analyst Michael Lavery saying recent glo momentum is slowing in Japan as share trends are flattening. 4. Intevac (IVAC) was downgraded to Neutral from Buy at B. Riley FBR and to Hold from Buy at Noble Financial and Maxim. 5. Texas Roadhouse (TXRH) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson citing valuation following the company's "mostly in-line" Q1 report. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
IMBBY Imperial Brands
$0.00

(0.00%)

03/15/18
COWN
03/15/18
NO CHANGE
COWN
Cowen sees FDA nicotine crackdown taking years, not months
The FDA filed an advance notice of proposed rulemaking on nicotine levels for combustible tobacco, which starts the clock on what will ultimately be a long process of data gathering, Cowen analyst Vivien Azer tells investors in a research note. The analyst sees the process taking years, not months, given the need for additional research. Azer has Outperform ratings on Altria Group (MO), British American Tobacco (BTI) and Imperial Brands (IMBBY).
03/14/18
GSCO
03/14/18
DOWNGRADE
GSCO
Neutral
Imperial Brands downgraded to Neutral from Buy at Goldman Sachs
02/13/18
PIPR
02/13/18
DOWNGRADE
PIPR
Neutral
Imperial Brands downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Michael Lavery downgraded Imperial Brands to Neutral and lowered his price target for the shares to GBP 28 from GBP 35. The analyst expects further reinvestment spending to weigh on earnings growth as Imperial expands in vapor and weighs a heated tobacco launch.
PM Philip Morris
$82.20

-0.05 (-0.06%)

06/08/18
STFL
06/08/18
NO CHANGE
STFL
Buy
Philip Morris dividend increase earlier, larger than expected, says Stifel
Philip Morris's 6.5% dividend increase announced today is not only off-cycle, but also of greater magnitude than the last three increases, which have averaged just over 2%, Stifel analyst Christopher Growe tells investors in a research note. The analyst highlights the company's nearly 6% dividend yield and "deep discount" to global Consumer Staples peers. He keeps a Buy rating on Philip Morris.
05/18/18
STFL
05/18/18
NO CHANGE
Target $100
STFL
Buy
Stifel highlights four potential catalysts that could boost Philip Morris shares
Stifel analyst Christopher Growe noted Philip Morris shares are trading at a valuation "well below" recent history for the stock and below Consumer Staples peers and the S&P 500. He reiterates his Buy rating on Philip Morris, highlighting four potential catalysts that the could move the stock higher, namely iQOS share growth in Japan; iQOS share growth in the EU; PMTA approval in the U.S.; and share repurchase activity. Growe keeps a $100 price target on Philip Morris shares.
04/20/18
MSCO
04/20/18
NO CHANGE
MSCO
Morgan Stanley says $25B loss in Philip Morris market cap hard to comprehend
Morgan Stanley analyst Matthew Grainger called Philip Morris' largest-ever single day decline yesterday, which knocked $25B off its market cap, "difficult to comprehend" and reflective of "a complete crisis of faith in iQOS' potential value creation." However, he notes that a reduction in iQOS share to 16% in 2025 versus his prior 26% expectation would have only a $3 per share impact on his valuation of Philip Morris shares. Grainger, who sees "exceptional value" in Philip Morris shares at current levels, has an Overweight rating and $123 price target on the stock and added that he also views the sympathy weakness elsewhere in the sector as unjustified.
04/20/18
04/20/18
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. Procter & Gamble (PG) downgraded to Neutral from Buy at BofA/Merrill and to Hold from Buy at Deutsche Bank aw well as Argus. 2. Philip Morris (PM) downgraded to Buy from Conviction Buy at Goldman Sachs and to Underperform from Neutral at BofA/Merrill. 3. DHT Holdings (DHT) downgraded to Neutral from Overweight at JPMorgan with analyst Noah Parquette saying he has become more constructive on a crude tanker recovery in 2019 but cites relative valuation for the downgrade on DHT. 4. Skechers (SKX) downgraded to Neutral from Outperform at Wedbush with analyst Christopher Svezia citing the company's first quarter results. 5. Tyson Foods (TSN) downgraded to Hold from Buy at Vertical Group. 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

ADP

ADP

$142.68

-1.02 (-0.71%)

15:45
10/18/18
10/18
15:45
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15:45
Options
ADP call volume above normal and directionally bullish »

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  • 22

    Oct

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XOMA

Xoma

$14.38

-1.65 (-10.29%)

, NVS

Novartis

$86.17

0.83 (0.97%)

15:40
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10/18
15:40
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15:40
Hot Stocks
Breaking Hot Stocks news story on Xoma, Novartis »

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Xoma

$14.38

-1.65 (-10.29%)

NVS

Novartis

$86.17

0.83 (0.97%)

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XOMA

Xoma

$14.38

-1.65 (-10.29%)

15:39
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Xoma says Novartis disclosed CRL received from FDA for canakinumab »

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HWBK

Hawthorn Bancshares

$23.65

(0.00%)

15:36
10/18/18
10/18
15:36
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15:36
Hot Stocks
Hawthorn Bancshares to sell Branson, MO branch »

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MDSO

Medidata

$70.82

1.45 (2.09%)

15:36
10/18/18
10/18
15:36
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15:36
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Medidata analyst commentary  »

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  • 18

    Oct

ISRG

Intuitive Surgical

$523.21

-19.64 (-3.62%)

15:34
10/18/18
10/18
15:34
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15:34
Options
Intuitive Surgical options imply 7.3% move in share price post-earnings, above median historical move »

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  • 18

    Oct

CMCSA

Comcast

$36.11

-0.28 (-0.77%)

15:32
10/18/18
10/18
15:32
10/18/18
15:32
Hot Stocks
Comcast says it is now the largest provider of Gigabit Internet »

Comcast announced that it…

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  • 25

    Oct

PTLA

Portola Pharmaceuticals

$22.02

-1.65 (-6.97%)

15:21
10/18/18
10/18
15:21
10/18/18
15:21
Hot Stocks
Breaking Hot Stocks news story on Portola Pharmaceuticals »

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  • 31

    Dec

ETFC

E-Trade

$48.86

-1.71 (-3.38%)

15:19
10/18/18
10/18
15:19
10/18/18
15:19
Options
E Trade options imply 7.8% move in share price post-earnings, above median historical move »

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  • 18

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
10/18/18
10/18
15:17
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15:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
10/18/18
10/18
15:16
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15:16
Technical Analysis
NYSE market internals summary »

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HTZ

Hertz

$15.11

-1.35 (-8.20%)

15:15
10/18/18
10/18
15:15
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15:15
Options
Hertz put volume heavy and directionally bearish »

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  • 09

    Nov

15:10
10/18/18
10/18
15:10
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General news
Treasury Closing Summary: »

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AXP

American Express

$102.92

-1.47 (-1.41%)

15:04
10/18/18
10/18
15:04
10/18/18
15:04
Options
American Express options imply 4.8% move in share price post-earnings, above median historical move »

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  • 18

    Oct

  • 05

    Nov

TEVA

Teva

$21.27

0.08 (0.38%)

15:03
10/18/18
10/18
15:03
10/18/18
15:03
Hot Stocks
FDA reports tentative approval for Actavis' ANDA for Pimecrolimus »

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  • 01

    Nov

ACHC

Acadia

$38.63

2.86 (8.00%)

15:03
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15:03
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Acadia analyst commentary  »

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ISRG

Intuitive Surgical

$525.36

-17.49 (-3.22%)

14:59
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10/18
14:59
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14:59
Earnings
Fly Intel: What to watch in Intuitive Surgical earnings report »

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  • 18

    Oct

NTAP

NetApp

$78.07

-0.99 (-1.25%)

14:55
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14:55
Options
NetApp put volume heavy and directionally bearish »

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  • 24

    Oct

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    Oct

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Canada retail sales preview »

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BKD

Brookdale Senior Living

$8.68

-0.07 (-0.80%)

14:49
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10/18
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Brookdale Senior Living moves off lows, said to cancel out of conference »

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  • 06

    Nov

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    Dec

PYPL

PayPal

$77.79

-2.32 (-2.90%)

14:49
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14:49
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14:49
Options
PayPal options imply 9.5% move in share price post-earnings, above median historical move »

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  • 18

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  • 13

    Nov

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    Nov

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    Nov

GOOG

Alphabet

$1,087.23

-28.76 (-2.58%)

, GOOGL

Alphabet Class A

$1,096.20

-30.47 (-2.70%)

14:47
10/18/18
10/18
14:47
10/18/18
14:47
Hot Stocks
Google opens Hardware Stores in NYC and Chicago »

Google opens pop-up…

GOOG

Alphabet

$1,087.23

-28.76 (-2.58%)

GOOGL

Alphabet Class A

$1,096.20

-30.47 (-2.70%)

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  • 21

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  • 07

    Nov

  • 03

    Mar

TTWO

Take-Two

$126.11

-5.89 (-4.46%)

, GME

GameStop

$15.11

-0.23 (-1.50%)

14:47
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14:47
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14:47
Periodicals
Smaller game stores may not get 'Red Dead 2' until November, Kotaku says »

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TTWO

Take-Two

$126.11

-5.89 (-4.46%)

GME

GameStop

$15.11

-0.23 (-1.50%)

BBY

Best Buy

$72.46

-1.37 (-1.86%)

SNE

Sony

$55.85

-2.06 (-3.56%)

MSFT

Microsoft

$108.47

-2.25 (-2.03%)

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  • 18

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  • 03

    Mar

MDR

McDermott

$14.61

-0.57 (-3.75%)

14:45
10/18/18
10/18
14:45
10/18/18
14:45
Options
McDermott call volume above normal and directionally bullish »

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