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KMX

CarMax

$76.77

0.18 (0.24%)

, CMI

Cummins

$136.53

1.4 (1.04%)

10:22
07/10/18
07/10
10:22
07/10/18
10:22

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CarMax (KMX) upgraded two notches to Overweight from Underweight at Morgan Stanley with analyst Armintas Sinkevicius saying longer term, he is constructive on dealers, citing a belief that tech disruption could accelerate consolidation and set up a transition toward "megafleet managers." 2. Cummins (CMI) upgraded to Buy from Hold at Stifel with analyst Michael Baudendistel saying shares of truck equipment companies have been under pressure primarily on concerns that the cycle is at a peak. 3. Wynn Resorts (WYNN) upgraded to Buy from Hold at Stifel with analyst Steven Wieczynski saying he believes the pullback in the stock recently has created a compelling opportunity. 4. KB Home (KBH) upgraded to Positive from Neutral at Susquehanna with analyst Jack Micenko citing a "clear and visible path" to further gross margin expansion and re-acceleration in community count and order growth well into 2019 for the upgrade, adding that underlying housing trends are strong in many of the markets in which the company currently operates despite "cautious" macro sentiment. 5. Quest Diagnostics (DGX) upgraded to Outperform from In Line at Evercore ISI with analyst Ross Muken saying the company will likely be the beneficiary of improved volumes, stable pricing, heightened M&A, and fund flows amid the heightened volatility within the Rx supply chain. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

KMX

CarMax

$76.77

0.18 (0.24%)

CMI

Cummins

$136.53

1.4 (1.04%)

WYNN

Wynn Resorts

$163.65

3.52 (2.20%)

KBH

KB Home

$27.97

0.47 (1.71%)

DGX

Quest Diagnostics

$112.48

1.76 (1.59%)

KMX CarMax
$76.77

0.18 (0.24%)

07/10/18
07/10/18
UPGRADE

Overweight
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).
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.
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.
07/10/18
MSCO
07/10/18
UPGRADE
MSCO
Overweight
CarMax upgraded to Overweight from Underweight at Morgan Stanley
CMI Cummins
$136.53

1.4 (1.04%)

06/18/18
STPT
06/18/18
UPGRADE
STPT
Buy
Cummins upgraded to Buy from Hold at Standpoint Research
07/10/18
STFL
07/10/18
UPGRADE
STFL
Buy
Cummins upgraded to Buy from Hold at Stifel
07/10/18
07/10/18
UPGRADE
Target $160

Buy
Stifel upgrades Cummins to Buy on 'stronger for longer' view of truck equipment
As previously reported, Stifel analyst Michael Baudendistel upgraded Cummins to Buy from Hold, stating that shares of truck equipment companies have been under pressure primarily on concerns that the cycle is at a peak. However, Baudendistel holds a "stronger for longer" view on the truck equipment market, mainly due to robust freight rates, he tells investors. Additionly, Baudendistel highlights Cummins' potential to utilize its balance sheet to complete one or more transformative acquisitions. Given that the company's end markets are generally at higher than average points in their respective cycles, he lowered his price target on Cummins shares, however, to $160 from $174.
06/29/18
MZHO
06/29/18
INITIATION
Target $150
MZHO
Neutral
Cummins initiated with a Neutral at Mizuho
Mizuho started Cummins with a Neutral rating and $150 price target.
WYNN Wynn Resorts
$163.65

3.52 (2.20%)

06/04/18
DBAB
06/04/18
NO CHANGE
Target $215
DBAB
Buy
Wynn Resorts price target lowered to $215 from $219 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli lowered his price target for Wynn Resorts to $215 citing "slightly softer" than previously anticipated higher end trends Q2 to date in the Macau market. Checks indicate the proximity of this year's World Cup in Russia, relative to the 2014 event in Brazil, could cause some VIP softness in June as junkets arrange trips for players, Santarelli tells investors in a research note. He remains bullish on Wynn's long-term story and keeps a Buy rating on the shares.
07/10/18
STFL
07/10/18
UPGRADE
Target $207
STFL
Buy
Wynn Resorts upgraded to Buy from Hold at Stifel
Stifel analyst Steven Wieczynski upgraded Wynn Resorts to Buy from Hold, as he believes the pullback in the stock recently has created a compelling opportunity. While acknowledging his upgrade "might be a bit early" given difficult VIP comparisons through July, Wieczynski argues that tougher VIP comparisons are now baked into expectations and he would rather be early than late "given the volatility of swings in Macau related stocks." His long-term case to own Wynn shares is built on expectations for continued Macau share gains, a ramp in free cash flow in 2019, and the potential for margin expansion, the analyst tells investors. Wieczynski also trimmed his price target on Wynn shares to $207 from $209.
07/05/18
MSCO
07/05/18
NO CHANGE
MSCO
Pullback in Macau gaming names a buying opportunity, says Morgan Stanley
Morgan Stanley analyst Thomas Allen believes the recent selloff in Macau gaming stocks is overdone, as he contends the fact that Macau's gaming revenue growth has missed on the headline for two months in a row is attributable to rising expectations, foreign exchange impacts and likely an improper factoring in of seasonality and the World Cup. Q2 gross gaming revenue growth of 17.2% still beat his forecast of 16%, noted Allen, who said Las Vegas Sands (LVS) continues to be his favored gaming name. He also has an Overweight rating on MGM Resorts (MGM). Allen keeps an Equal Weight rating on Wynn Resorts (WYNN), but sees the stock becoming increasingly attractive if Macau is still "very healthy," as he suspects.
06/29/18
JEFF
06/29/18
NO CHANGE
Target $229
JEFF
Buy
Wynn Resorts long-term value remains intact, says Jefferies
Jefferies analyst David Katz revisited his channel checks and management's public commentary with shares of Wynn Resorts down 16% month-to-date. While near-term expectations may be high, long-term value remains intact, Katz tells investors in a research note titled "A Multitude of Ways to Wynn." He continues to believe that Wynn's current portfolio and completion of Boston will result in a "profound capital pivot" by 2019. The analyst trimmed his price target for the shares to $229 and $230 and reiterates a Buy rating on the name.
KBH KB Home
$27.97

0.47 (1.71%)

07/10/18
SUSQ
07/10/18
UPGRADE
SUSQ
Positive
KB Home upgraded to Positive from Neutral at Susquehanna
07/10/18
SUSQ
07/10/18
UPGRADE
Target $36
SUSQ
Positive
KB Home upgraded to Positive from Neutral at Susquehanna
As previously reported, Susquehanna analyst Jack Micenko upgraded KB Home to Positive from Neutral and raised his price target to $36 from $34. In a research note to investors, Micenko cited a "clear and visible path" to further gross margin expansion and re-acceleration in community count and order growth well into 2019 for the upgrade, adding that underlying housing trends are strong in many of the markets in which the company currently operates despite "cautious" macro sentiment.
06/29/18
06/29/18
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. KB Home (KBH) upgraded to Buy from Underperform at BofA/Merrill with analyst John Lovallo saying KB Home's execution, margins and returns have exceeded his expectations for numerous quarters and expects solid homebuilding growth through 2020. 2. Sirius XM (SIRI) upgraded to Outperform from Market Perform at Barrington with analyst James Goss stating he is impressed with the longer-term story Sirius continues to offer and considers the recent downward move in the stock price as providing a buying opportunity. 3. Matador (MTDR) upgraded to Buy from Hold at KLR Group with analyst Gail Nicholson saying the company offers investors "solid" execution, a "strong" balance sheet and numerous catalysts which could unlock incremental value. 4. Duluth Holdings (DLTH) upgraded to Outperform from Market Perform at William Blair with analyst Dylan Carden stating he has greater conference that the direct channel will stabilize and even likely accelerate as new retail markets enter their second year. 5. American Express (AXP) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler citing the DOJ case being resolved and evidence of "compelling momentum" across its platform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/18
LEHM
06/29/18
UPGRADE
LEHM
Equal Weight
KB Home upgraded to Equal Weight from Underweight at Barclays
DGX Quest Diagnostics
$112.48

1.76 (1.59%)

06/27/18
DBAB
06/27/18
DOWNGRADE
DBAB
Hold
Quest Diagnostics downgraded to Hold from Buy at Deutsche Bank
07/10/18
EVER
07/10/18
UPGRADE
EVER
Outperform
Quest Diagnostics upgraded to Outperform from In Line at Evercore ISI
06/27/18
06/27/18
DOWNGRADE

Hold
Deutsche Bank downgrades Quest, LabCorp to Hold with catalysts 'exhausted'
As previously reported, Deutsche Bank analyst Dan Leonard downgraded Quest Diagnostics (DGX) and LabCorp (LH), both to Hold from Buy, stating that he previously believed that hospital labs, which could be more impaired by Medicare reimbursement cuts, would be willing sellers, but the slower than expected pace of deals has made him question this assumption. He continues to see durable organic growth for Quest's and LabCorp's diagnostics businesses, but he now wonders if some headwinds had abated in the way he'd previously assumed, Leonard added.
07/10/18
EVER
07/10/18
UPGRADE
Target $121
EVER
Outperform
Quest Diagnostics upgraded to Outperform at Evercore ISI on improved volume view
As reported earlier, Evercore ISI analyst Ross Muken upgraded Quest Diagnostics (DGX) to Outperform from In Line and raised his price target to $121 from $108. The analyst notes that the company will likely be the beneficiary of improved volumes, stable pricing, heightened M&A and fund flows amid the heightened volatility within the Rx supply chain. Muken believes that the company is "less exposed to political risk and big bad Amazon (AMZN)" competition, while its new management has also effectively reduced costs and deployed capital.

TODAY'S FREE FLY STORIES

TSLA

Tesla

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31.41 (12.03%)

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VNQ

Vanguard REIT Index Fund

$77.68

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VEEV

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TSLA

Tesla

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TTWO

Take-Two

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SELB

Selecta Biosciences

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$9.25

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HZNP

Horizon Pharma

$18.49

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BCS

Barclays

$8.60

0.11 (1.30%)

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SELB

Selecta Biosciences

$8.93

-4.44 (-33.21%)

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SLG

SL Green Realty

$92.15

0.36 (0.39%)

14:18
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SL Green Realty rating change  »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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CNC

Centene

$133.39

-7.945 (-5.62%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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KKR

KKR

$22.65

-1.255 (-5.25%)

14:15
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KKR put volume heavy and directionally bearish »

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  • 25

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SBH

Sally Beauty

$17.78

0.28 (1.60%)

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ICAD

iCAD

$3.10

-0.02 (-0.64%)

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  • 15

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AMD

AMD

$24.73

-0.31 (-1.24%)

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UNH

UnitedHealth

$261.89

-0.26 (-0.10%)

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UnitedHealth call volume above normal and directionally bullish »

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FB

Facebook

$152.62

-2.19 (-1.41%)

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KR

Kroger

$28.16

0.17 (0.61%)

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  • 28

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EXAS

Exact Sciences

$63.00

0.68 (1.09%)

13:55
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  • 30

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EOG

EOG Resources

$110.23

-6.03 (-5.19%)

13:55
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Options
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  • 02

    Nov

SELB

Selecta Biosciences

$9.06

-4.31 (-32.24%)

, HZNP

Horizon Pharma

$18.52

-0.735 (-3.82%)

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SELB

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HZNP

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$18.52

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13:50
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