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KMX

CarMax

$76.59

0.18 (0.24%)

, LAD

Lithia Motors

$98.92

1.58 (1.62%)

08:17
07/10/18
07/10
08:17
07/10/18
08:17

CarMax double upgraded to Overweight at Morgan Stanley as coverage transferred

As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded CarMax (KMX) two notches, to Overweight from Underweight, as he took over coverage of the auto dealer stocks at the firm. Longer term, he is constructive on dealers, citing a belief that tech disruption could accelerate consolidation and set up a transition toward "megafleet managers." However, given that the market is over 9 years into the auto cycle, he sees limited potential for a re-rating of the multiples of auto dealer's stocks, Sinkevicius tells investors. In supporting his view of CarMax, the analyst also notes that the used car market is less volatile than the new car market. He also retained Overweight ratings on Lithia Motors (LAD) and Penske Automotive (PAG).

KMX

CarMax

$76.59

0.18 (0.24%)

LAD

Lithia Motors

$98.92

1.58 (1.62%)

PAG

Penske Automotive

$50.40

0.8 (1.61%)

KMX CarMax
$76.59

0.18 (0.24%)

06/25/18
WEDB
06/25/18
NO CHANGE
Target $85
WEDB
Outperform
CarMax price target raised to $85 from $75 at Wedbush
Wedbush analyst Seth Basham raised his price target for CarMax to $85 from $75 as Q1 results topped expectations and provided evidence that last quarter's pronounced weakness was transitory. The analyst reiterates an Outperform rating on the shares.
06/25/18
BUCK
06/25/18
DOWNGRADE
BUCK
Neutral
CarMax downgraded to Neutral on valuation at Buckingham
Buckingham analyst Glenn Chin downgraded CarMax to Neutral from Buy citing valuation and raised its price target to $84 from $75.
06/25/18
FBCO
06/25/18
NO CHANGE
Target $87
FBCO
Outperform
CarMax price target raised to $87 from $81 at Credit Suisse
Credit Suisse analyst Seth Sigman raised his price target for CarMax to $87 from $81 as better Q1 results support his view that growth should accelerate through 2018, driving modest upside to EPS and multiple expansion as seen historically. The analyst reiterates an Outperform rating on the shares.
07/10/18
MSCO
07/10/18
UPGRADE
MSCO
Overweight
CarMax upgraded to Overweight from Underweight at Morgan Stanley
LAD Lithia Motors
$98.92

1.58 (1.62%)

04/16/18
GUGG
04/16/18
INITIATION
GUGG
Neutral
Lithia Motors initiated with a Neutral at Guggenheim
Guggenheim analyst Ali Faghri initiated Lithia Motors with a Neutral rating.
03/14/18
MSCO
03/14/18
NO CHANGE
MSCO
Morgan Stanley raises U.S. auto sales forecasts through 2021
Morgan Stanley analyst Adam Jonas raised his U.S. seasonally adjusted annual rate, or SAAR, forecast for automakers by an average of 850,000 units from 2018 through 2021, which represents slightly more than a 5% increase from his prior forecast. However, his average U.S. SAAR forecast is still well below last year's 17.3M units and 8% under the cyclical high of 17.6M units in 2016. Jonas points to U.S. tax reform and "relatively stable" recent trends in auto sales and credit as reasons for the hike, noting that while infrastructure action from the federal government could be a material positive, it is not explicitly in his new forecast. Adding that the higher view has a net positive impact on estimates and price targets for exposed auto Original Equipment Manufacturers, or OEMs, and suppliers, Jonas raised his price targets on General Motors (GM), Asbury Automotive (ABG), AutoNation (AN), Group 1 Automotive (GPI), Lithia Motors (LAD), Penske Automotive (PAH), Sonic Automotive (SAH) and Ford (F). He also double upgraded Ford, to Overweight from Underweight, this morning.
01/08/18
BOFA
01/08/18
UPGRADE
BOFA
Neutral
Lithia Motors upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst John Murphy upgraded Lithia Motors to Neutral and raised its price target to $128 from $102 to reflect higher earnings due to tax reform.
10/04/17
BREN
10/04/17
INITIATION
Target $126
BREN
Hold
Lithia Motors initiated with a Hold at Berenberg
Berenberg analyst Andrew Fung initiated Lithia Motors with a Hold and $126 price target due to valuation.
PAG Penske Automotive
$50.40

0.8 (1.61%)

09/28/17
NRCS
09/28/17
INITIATION
Target $56
NRCS
Buy
Penske Automotive initiated with a Buy at Northcoast
Northcoast analyst John Healy initiated Penske Automotive with a Buy and $56 price target.
10/04/17
BREN
10/04/17
INITIATION
Target $52
BREN
Hold
Penske Automotive initiated with a Hold at Berenberg
Berenberg analyst Andrew Fung initiated Penske Automotive with a Hold and $52 price target citing valuation and macro uncertainty in some key markets.
04/16/18
GUGG
04/16/18
INITIATION
Target $50
GUGG
Buy
Penske Automotive initiated with a Buy at Guggenheim
Guggenheim analyst Ali Faghri initiated Penske Automotive with a Buy and $50 price target.

TODAY'S FREE FLY STORIES

NTAP

NetApp

$78.07

-0.99 (-1.25%)

14:55
10/18/18
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14:55
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14:55
Options
NetApp put volume heavy and directionally bearish »

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General news
Canada retail sales preview »

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BKD

Brookdale Senior Living

$8.68

-0.07 (-0.80%)

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

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    Nov

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    Dec

PYPL

PayPal

$77.79

-2.32 (-2.90%)

14:49
10/18/18
10/18
14:49
10/18/18
14:49
Options
PayPal options imply 9.5% move in share price post-earnings, above median historical move »

Pre-earnings options…

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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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    Mar

TTWO

Take-Two

$126.11

-5.89 (-4.46%)

, GME

GameStop

$15.11

-0.23 (-1.50%)

14:47
10/18/18
10/18
14:47
10/18/18
14:47
Periodicals
Smaller game stores may not get 'Red Dead 2' until November, Kotaku says »

Smaller video game…

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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    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 »

Bullish option flow…

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SBGI

Sinclair Broadcast

$29.58

-0.06 (-0.20%)

14:43
10/18/18
10/18
14:43
10/18/18
14:43
Periodicals
Sinclair Broadcast confirms 'Stirr' streaming service to launch soon, Axios says »

At the NAB Show in New…

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  • 07

    Nov

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    Nov

SBPH

Spring Bank Pharmaceuticals

$14.43

0.05 (0.35%)

14:35
10/18/18
10/18
14:35
10/18/18
14:35
Hot Stocks
Breaking Hot Stocks news story on Spring Bank Pharmaceuticals »

Adage Capital reports…

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  • 19

    Oct

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    Nov

LKQ

LKQ Corp.

$28.19

-0.43 (-1.50%)

14:30
10/18/18
10/18
14:30
10/18/18
14:30
Options
Repeat call buyers in Call buyers in LKQ Corp as shares fall to 52-week lows »

Repeat call buyers in…

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    Dec

AG

First Majestic

$6.26

0.02 (0.32%)

14:25
10/18/18
10/18
14:25
10/18/18
14:25
Options
First Majestic call volume above normal and directionally bullish »

Bullish option flow…

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  • 28

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
10/18/18
10/18
14:17
10/18/18
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
10/18/18
10/18
14:16
10/18/18
14:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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DIS

Disney

$115.93

-1.16 (-0.99%)

14:14
10/18/18
10/18
14:14
10/18/18
14:14
Hot Stocks
Disney plans to build nature-inspired mixed-use resort on Bay Lake »

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  • 08

    Nov

VLKAY

Volkswagen

$0.00

(0.00%)

, POAHY

Porsche

$0.00

(0.00%)

14:13
10/18/18
10/18
14:13
10/18/18
14:13
Periodicals
Porsche exec expects to repeat record car sales in 2018, Reuters says »

Oliver Blume, CEO of…

VLKAY

Volkswagen

$0.00

(0.00%)

POAHY

Porsche

$0.00

(0.00%)

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BT

BT Group

$15.91

-0.05 (-0.31%)

, WP

Worldpay

$94.21

-2.455 (-2.54%)

14:10
10/18/18
10/18
14:10
10/18/18
14:10
Periodicals
BT offers CEO position to Worldpay's Jansen, Bloomberg says »

BT Group (BT) has offered…

BT

BT Group

$15.91

-0.05 (-0.31%)

WP

Worldpay

$94.21

-2.455 (-2.54%)

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  • 13

    Nov

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SNAP

Snap

$6.76

-0.3 (-4.25%)

14:10
10/18/18
10/18
14:10
10/18/18
14:10
Options
Time spreads in Snap as shares see further weakness »

Time spreads in Snap as…

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  • 25

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AXP

American Express

$102.51

-1.88 (-1.80%)

, PYPL

PayPal

$77.80

-2.31 (-2.88%)

14:02
10/18/18
10/18
14:02
10/18/18
14:02
Hot Stocks
American Express, PayPal announce expanded strategic partnership »

American Express (AXP)…

AXP

American Express

$102.51

-1.88 (-1.80%)

PYPL

PayPal

$77.80

-2.31 (-2.88%)

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  • 18

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    Nov

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    Nov

GSVC

GSV Capital

$6.75

0.13 (1.96%)

14:00
10/18/18
10/18
14:00
10/18/18
14:00
Options
Far downside put buyers in GSV Capital Corporation »

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SCHW

Charles Schwab

$46.56

-1.49 (-3.10%)

13:55
10/18/18
10/18
13:55
10/18/18
13:55
Options
Charles Schwab put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 19

    Oct

FSNUY

Fresenius SE

$0.00

(0.00%)

, AKRX

Akorn

$6.94

-0.18 (-2.53%)

13:51
10/18/18
10/18
13:51
10/18/18
13:51
Hot Stocks
Akorn appeals ruling in Fresenius buyout case to Delaware Supreme Court »

Akorn (AKRX) announced…

FSNUY

Fresenius SE

$0.00

(0.00%)

AKRX

Akorn

$6.94

-0.18 (-2.53%)

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GT

Goodyear Tire

$20.47

-0.98 (-4.57%)

, CTB

Cooper Tire

$24.67

-0.97 (-3.78%)

13:50
10/18/18
10/18
13:50
10/18/18
13:50
OnTheFly
Goodyear, Cooper Tire slide after Michelin cuts full year market forecasts »

Shares of Goodyear Tire…

GT

Goodyear Tire

$20.47

-0.98 (-4.57%)

CTB

Cooper Tire

$24.67

-0.97 (-3.78%)

MGDDY

Michelin

$0.00

(0.00%)

CTTAY

Continental AG

$0.00

(0.00%)

CNHI

CNH Industrial

$10.61

-0.44 (-3.98%)

03/08/13
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  • 26

    Oct

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    Oct

ZION

Zions Bancorp

$47.57

-0.86 (-1.78%)

13:45
10/18/18
10/18
13:45
10/18/18
13:45
Options
Zions Bancorp call volume above normal and directionally bullish »

Bullish option flow…

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  • 22

    Oct

ARQL

ArQule

$4.52

-0.03 (-0.66%)

13:43
10/18/18
10/18
13:43
10/18/18
13:43
Hot Stocks
ArQule rises 9% in afternoon trading amid conference appearance »

ArQule, which is…

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  • 31

    Oct

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