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SPOT

Spotify

$177.02

-0.39 (-0.22%)

, CME

CME Group

$163.46

-0.09 (-0.06%)

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

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Spotify (SPOT) initiated with a Perform at Oppenheimer. 2. CME Group (CME) initiated with a Neutral at Compass Point. 3. Weight Watchers (WTW) initiated with an Overweight at KeyBanc. 4. Fossil (FOSL) initiated with an Overweight at KeyBanc. 5. Alvarion (ALVR) initiated with a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

SPOT

Spotify

$177.02

-0.39 (-0.22%)

CME

CME Group

$163.46

-0.09 (-0.06%)

WTW

Weight Watchers

$97.00

-0.77 (-0.79%)

FOSL

Fossil

$29.84

0.99 (3.43%)

ALVR

Alvarion

$0.00

(0.00%)

  • 26

    Jul

  • 26

    Jul

SPOT Spotify
$177.02

-0.39 (-0.22%)

07/09/18
LEHM
07/09/18
NO CHANGE
Target $450
LEHM
Overweight
Netflix price target raised to $450 from $370 at Barclays
Barclays analyst Kannan Venkateshwar raised his price target for Netflix to $450 saying he remains positive on the stock despite the 107% rally year-to-date. On a per subscriber basis, Netflix's valuation is not too far off from legacy media businesses, which are growing "significantly slower," Venkateshwar tells investors in a research note titled "What are the key risks to the story?" Further, Netflix "appears even cheap relative to names such as Spotify (SPOT), the analyst contends. His new price target reflects higher subscriber and revenue estimates. Venkateshwar keeps an Overweight rating on Netflix shares.
07/09/18
OPCO
07/09/18
INITIATION
OPCO
Perform
Spotify initiated with a Perform at Oppenheimer
Oppenheimer analyst Jason Helfstein started Spotify Technology with a Perform rating and no price target. The analyst calculates the stock's intrinsic value range at $160-$170 per share or 13-14 time estimated 2019 gross profit. The shares closed the trading day up $1.74 to $177.44. The analyst believes Spotify will benefit from the "secular tailwind of growing digital music streaming adoption" but questions the extent to which it can differentiate its service to maintain market share. Further, Spotify's attempts to improve gross margin by licensing music direct will likely be stymied by labels and premium placement in playlists is "expected," rather than a "paid for" service, Helfstein tells investors in a research note partially titled "A Too Familiar Tune."
06/27/18
NORD
06/27/18
INITIATION
Target $216
NORD
Buy
Spotify initiated with a Buy at Nordea
Nordea initiated Spotify with a Buy and $216 price target.
07/09/18
MKMP
07/09/18
NO CHANGE
Target $200
MKMP
Buy
Spotify best positioned in 'highly investable' music industry, says MKM Partners
MKM Partners analyst Rob Sanderson kept his Buy rating and $200 price target on Spotify, saying the company is "best positioned and has the most interest in advancing a healthy music industry", which has become "highly investable" as its monetization has turned. The analyst further notes that after 20 years of under-investment, the industry can start to rebuild, particularly in recruiting/promoting artists and connecting them with fans. Sanderson believes that Spotify can benefit from "large value creation opportunities" and expects the company to "significantly increase in market share" in the next 5 years.
CME CME Group
$163.46

-0.09 (-0.06%)

07/09/18
WELS
07/09/18
NO CHANGE
Target $175
WELS
Market Perform
CME Group price target raised to $175 from $170 at Wells Fargo
Wells Fargo analyst Christopher Harris raised his price target for CME Group to $175 from $170 to account mainly for stronger than forecasted volumes. The analyst reiterates a Market Perform rating on the shares.
04/10/18
BERN
04/10/18
INITIATION
Target $190
BERN
Outperform
CME Group initiated with an Outperform at Bernstein
As previously reported, Bernstein analyst Christian Bolu started CME Group with Outperform rating and $190 price target as he likes the counter cyclical growth qualities of its dominant and diverse futures franchise.
07/09/18
COMP
07/09/18
INITIATION
Target $170
COMP
Neutral
CME Group initiated with a Neutral at Compass Point
Compass Point initiated CME Group with a Neutral and $170 price target.
04/09/18
BERN
04/09/18
INITIATION
BERN
Outperform
CME Group initiated with an Outperform at Bernstein
WTW Weight Watchers
$97.00

-0.77 (-0.79%)

07/09/18
KEYB
07/09/18
INITIATION
Target $115
KEYB
Overweight
Weight Watchers initiated with an Overweight at KeyBanc
KeyBanc started Weight Watchers with an Overweight rating and $115 price target.
07/09/18
07/09/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GameStop (GME) initiated with a Buy at Jefferies. 2. Michael Kors (KORS) initiated with a Buy at HSBC. 3. Weight Watchers (WTW) initiated with a Neutral at UBS. 4. U.S. Xpress Enterprises (USX) initiated with an Overweight at Morgan Stanley and JPMorgan, an Outperform at Wells Fargo, as well as a Buy at Stifel and BofA/Merrill. 5. Charah Solutions (CHRA) initiated with an Overweight at Morgan Stanley and First Analysis, a Buy at Stifel, and a Neutral at BofA/Merrill.This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/18
CHLM
06/26/18
NO CHANGE
Target $120
CHLM
Buy
Weight Watchers summer ads should accelerate recruitment, says Craig-Hallum
Craig-Hallum analyst Alex Fuhrman notes that Weight Watchers has two "catchy" TV advertisements playing this summer, versus hardly any summer advertising last year, and he believes the ads can accelerate recruitment trends and will likely lead to significant upside to his 2018 estimates. Fuhrman maintains a Buy rating and $120 price target on Weight Watchers shares.
07/09/18
UBSW
07/09/18
INITIATION
Target $110
UBSW
Neutral
Weight Watchers initiated with a Neutral at UBS
UBS analyst Michael Lasser started Weight Watchers International with a Neutral rating and $110 price target. After rallying 131% year-to-date, the stock's intermediate term risk/reward is balanced and the valuation is full, Lasser tells investors in a research note. The analyst believes, however, that with 40% of the U.S. adult population obese, Weight Watchers "should continue to gain from serving a large addressable market."
FOSL Fossil
$29.84

0.99 (3.43%)

07/09/18
KEYB
07/09/18
INITIATION
KEYB
Overweight
Fossil initiated with an Overweight at KeyBanc
02/14/18
KEYB
02/14/18
NO CHANGE
Target $25
KEYB
Overweight
Fossil price target raised to $25 from $15 at KeyBanc
KeyBanc analyst Edward Yruma raised his price target for Fossil to $25 from $15 as he believes the company is finally making demonstrable progress in its transformation. Strength in wearables has meaningfully changed the trajectory in watch sales and cost-reduction efforts should drive $150M-$200M in adjusted EBITDA, he contends. Further, the analyst believes a recent amendment lowers the near-term risk profile and potential upside is significant. Yruma reiterates an Overweight rating on the shares.
06/04/18
KEYB
06/04/18
NO CHANGE
Target $32
KEYB
Overweight
Fossil price target raised to $32 from $25 at KeyBanc
KeyBanc analyst Edward Yruma raised his price target for Fossil to $32 from $25 has he believes the company has turned the corner - a combination of expense reductions, focus on wearables, and a more favorable secular watch environment. Further, the analyst argues that new fashion trends and millennial interest in watches seems to be driving a stabilized watch environment. Yruma reiterates an Overweight rating on the shares.
02/14/18
OPCO
02/14/18
NO CHANGE
OPCO
Fossil trading higher on short covering, says Oppenheimer
Oppenheimer analyst Anna Andreeva said she does not see much of a fundamental change after Fossil's Q4 earnings results, noting the company guided Q1 sales down sharply, and believes the stock -- which is heavily shorted -- is up on covering. Oppenheimer continued to rate Fossil a Perform. Note that Fossil shares are trading almost 59% higher in late morning trading to $14.40.
ALVR Alvarion
$0.00

(0.00%)

07/10/18
GSCO
07/10/18
INITIATION
Target $44
GSCO
Neutral
Alvarion initiated with a Neutral at Goldman Sachs
Goldman Sachs started Alvarion with a Neutral rating and $44 price target. The firm views simplifying sales tax compliance with e-commerce as a headwind for Alvarion, but says the stock's current valuation warrants a neutral stance.

TODAY'S FREE FLY STORIES

FNWB

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UNG

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iShares iBoxx $ Investment Grade Corporate Bond

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TLT

iShares 20+ Year Treasury Bond Fund

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iShares 1-3 Year Treasury Bond

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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

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Fujifilm

$0.00

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  • 26

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STON

StoneMor Partners

$3.61

-0.015 (-0.41%)

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TEF

Telefonica

$8.70

0.07 (0.81%)

17:11
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Downgrade
Telefonica rating change at Goldman Sachs »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

, USO

United States Oil Fund

$14.15

0.025 (0.18%)

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SPDR S&P 500 ETF Trust

$279.71

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USO

United States Oil Fund

$14.15

0.025 (0.18%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

FXE

Euro Currency Trust

$112.46

0.83 (0.74%)

FXC

CurrencyShares Canadian Dollar Trust

$75.17

0.81 (1.09%)

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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

17:02
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Syndicate
Breaking Syndicate news story on Citizens Community Bancorp »

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PKD

Parker Drilling

$0.30

-0.0044 (-1.46%)

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Breaking Hot Stocks news story on Parker Drilling »

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  • 02

    Aug

RSLS

ReShape Lifesciences

$1.47

-0.02 (-1.34%)

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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
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ALDX

Aldeyra

$7.95

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GLRE

Greenlight Capital Re

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RVI

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LECO

Lincoln Electric

$92.26

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, ROK

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ROK

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  • 25

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KMX

CarMax

$77.15

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LOW

Lowe's

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16:30
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PFE

Pfizer

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  • 22

    Aug

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JCP

J.C. Penney

$2.50

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VIX

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$0.00

(0.00%)

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ASFI

Asta Funding

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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NYSE market internals summary »

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DIS

Disney

16:15
07/20/18
07/20
16:15
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16:15
Periodicals
Disney fires 'Guardians' director after controversial tweets, THR says »

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  • 07

    Aug

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