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SYF

Synchrony

$32.95

-1.86 (-5.34%)

, WMT

Walmart

$86.50

0.13 (0.15%)

08:16
07/13/18
07/13
08:16
07/13/18
08:16

Synchrony 'unlikely' to lose Walmart contract, says Credit Suisse

Credit Suisse analyst Moshe Orenbuch said he believes Synchrony Financial (SYF) is likely to retain its credit card contract with Walmart (WMT) following a Bloomberg report that said Capital One (COF) is bidding for the portfolio. Orenbuch says this is "not an ideal partnership" for Capital One, because while it has been a long-time player in the nonprime card business, he feels it is "less likely" that it would be comfortable acquiring a large portfolio with potential significant nonprime component such as the Walmart portfolio, particularly when it did not underwrite the loans. Orenbuch says that if Synchrony does retain the contract, which is expected to expire in 2019, the company will most likely have to cede more economics to Walmart in terms of profit sharing.

SYF

Synchrony

$32.95

-1.86 (-5.34%)

WMT

Walmart

$86.50

0.13 (0.15%)

COF

Capital One

$95.25

-0.06 (-0.06%)

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    Jul

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    Jul

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    Aug

SYF Synchrony
$32.95

-1.86 (-5.34%)

07/13/18
BTIG
07/13/18
NO CHANGE
Target $44
BTIG
Buy
Synchrony may have 'upper hand' in Walmart credit card bidding, says BTIG
BTIG analyst Mark Palmer is keeping his Buy rating and $44 price target on Synchrony (SYF), noting the 5.3% decline in its stock price after media reports that Walmart (WMT) is considering shifting its credit card program to Capital One (COF). The analyst believes that Synchrony may still have the upper hand over Capital One because Walmart's objective to build out its digital wallet and mobile payment capabilities is better served by Synchrony's "understated solid experience helping retailers to develop their mobile capabilities" given its recent acquisition of GPShopper, which assists retailers in developing mobile apps. Palmer adds that given the risks and complexity around the transfer of a store-card program, Walmart should require a "very significant advantage", and it is more likely that it will renew its Synchony agreement at "somewhat less favorable terms for the issuer".
07/12/18
BUCK
07/12/18
NO CHANGE
BUCK
Buckingham says Synchrony will do 'almost anything' to keep Walmart relationship
Buckingham analyst Chris Brendler said he remains positive on Synchrony (SYF) following a Bloomberg report that Capital One (COF) is bidding for Walmart's (WMT) credit card business. He feels less optimistic about Synchrony's chances of retaining the long-standing relationship, lowering his estimate of the odds of keeping it to 60% from 80%, but Brendler also said it is "difficult, expensive and risky" to move a portfolio of this size and he could see a split deal as possible. Given that Walmart represents about 15% of its revenue, he also thinks Synchrony will do "almost anything" to keep the relationship, said Brendler, who added that Synchrony shares are now cheapest in their peer group. The analyst has a Buy rating on Synchrony shares.
07/09/18
JPMS
07/09/18
DOWNGRADE
Target $20
JPMS
Neutral
Santander Consumer downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Richard Shane downgraded Santander Consumer (SC) to Neutral with an unchanged price target of $20. The analyst believes higher oil prices represent an increasing risk for the U.S. consumer and thinks the stock's upside is limited following the recent outperformance. His top pick Consumer Finance is Synchrony Financial (SYF). Shane raised his price target for the shares to $41 from $40 and keeps an Overweight rating on the name.
05/02/18
JEFF
05/02/18
NO CHANGE
Target $50
JEFF
Buy
Synchrony remains a top pick among card issuers at Jefferies
After spending time with management, Jefferies analyst John Hecht says Synchrony Financial remains a top pick among his coverage of card issuers. Synchrony's "high touch, high value add and enhanced capabilities" position it well into contract renewals. The company has two large retail contracts with terms extending to next year, by which time they need to be renewed, Hecht tells investors in a research note. He believes Synchrony is difficult to replace for a retail partner and keeps a Buy rating on the shares with a $50 price target.
WMT Walmart
$86.50

0.13 (0.15%)

07/03/18
CLVD
07/03/18
NO CHANGE
CLVD
Walmart mentioned positively at Cleveland Research
07/02/18
JEFF
07/02/18
NO CHANGE
Target $32
JEFF
Buy
Jefferies remains bullish on PetIQ, boosts price target to $32
Jefferies analyst Kevin Grundy raised his price target for PetIQ (PETQ) to $32 from $30 following a Walmart (WMT) store visit to a new VetIQ Petcare clinic in Lehighton, PA. The analyst sees see PetIQ's retail strategy as sensible given the high margin/return profile of the model. He believes the company's clinic rollout is on track and remains bullish on the stock with a Buy rating.
COF Capital One
$95.25

-0.06 (-0.06%)

07/09/18
07/09/18
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. FireEye (FEYE) upgraded to Overweight from Neutral at Piper Jaffray with analyst Andrew Nowinski saying a recent round of channel checks showed a "significant improvement" in demand trends for the company. 2. BP (BP) upgraded to Top Pick from Outperform at RBC Capital with analyst Biraj Borkhataria saying the company's visibility for volume growth will lead to higher cash flows from operations. 3. Capital One (COF) upgraded to Outperform from Perform at Oppenheimer with analyst Ben Chittenden saying the delinquency formation is improving and Q2 expectations seem too low to him. 4. Dunkin' Brands (DNKN) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump saying his conversations with U.S. franchisees lead him to believe the company's Q2 same-store sales rose 0.5-1.0%, which would be in-line with the consensus view and slightly better than his prior forecast for them to have been flat with last year. 5. Baidu (BIDU) upgraded to Outperform from Neutral at Credit Suisse and to Overweight from Sector Weight at KeyBanc. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/09/18
07/09/18
UPGRADE
Target $113

Outperform
Capital One upgraded to Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Ben Chittenden upgraded Capital One to Outperform from Perform, with a $113 price target, as the delinquency formation is improving and Q2 expectations seem too low to him. The analyst believes Q2 will lead to both a positive EPS revision cycle as well as multiple expansion.

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FX Update: Both the Dollar and Yen have outperformed »

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01:45
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XOM

Exxon Mobil

$81.15

-0.83 (-1.01%)

20:43
10/22/18
10/22
20:43
10/22/18
20:43
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Exxon Mobil initiated at Simmons »

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VZ

Verizon

$54.96

0.07 (0.13%)

, MCD

McDonald's

$166.53

-0.92 (-0.55%)

20:25
10/22/18
10/22
20:25
10/22/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

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VZ

Verizon

$54.96

0.07 (0.13%)

MCD

McDonald's

$166.53

-0.92 (-0.55%)

MM

Millennial Media

$0.00

(0.00%)

UTX

United Technologies

$126.42

-2.22 (-1.73%)

LMT

Lockheed Martin

$326.45

-1.77 (-0.54%)

NEE

NextEra Energy

$172.71

-0.76 (-0.44%)

CAT

Caterpillar

$128.64

-2.73 (-2.08%)

BIIB

Biogen

$315.67

-4.18 (-1.31%)

CNC

Centene

$141.34

-1.565 (-1.10%)

GLW

Corning

$30.83

0.06 (0.19%)

PCAR

Paccar

$60.51

0.25 (0.41%)

RF

Regions Financial

$16.39

-0.5 (-2.96%)

FITB

Fifth Third

$25.38

-0.95 (-3.61%)

HBAN

Huntington Bancshares

$13.66

-0.54 (-3.80%)

TRU

TransUnion

$68.59

0.39 (0.57%)

XRX

Xerox

$26.39

-0.47 (-1.75%)

HOG

Harley-Davidson

$38.72

-0.84 (-2.12%)

JBLU

JetBlue

$16.57

0.04 (0.24%)

GPK

Graphic Packaging

$12.31

-0.4 (-3.15%)

SLCA

U.S. Silica

$15.65

-0.41 (-2.55%)

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TOT

Total

$59.85

-0.95 (-1.56%)

20:22
10/22/18
10/22
20:22
10/22/18
20:22
Initiation
Total initiated at Simmons »

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RDS.A

Royal Dutch Shell

$64.88

-0.66 (-1.01%)

20:17
10/22/18
10/22
20:17
10/22/18
20:17
Initiation
Royal Dutch Shell initiated at Simmons »

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03/08/13
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EQNR

Equinor

$26.39

-0.6 (-2.22%)

20:13
10/22/18
10/22
20:13
10/22/18
20:13
Initiation
Equinor initiated at Simmons »

Equinor assumed with an…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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CVX

Chevron

$117.23

-0.82 (-0.69%)

20:11
10/22/18
10/22
20:11
10/22/18
20:11
Initiation
Chevron initiated at Simmons »

Chevron assumed with an…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 02

    Nov

COP

ConocoPhillips

$72.06

-0.43 (-0.59%)

20:06
10/22/18
10/22
20:06
10/22/18
20:06
Initiation
ConocoPhillips initiated at Simmons »

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03/08/13
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03/06/13
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03/06/13
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  • 25

    Oct

BP

BP

$43.15

-0.84 (-1.91%)

20:02
10/22/18
10/22
20:02
10/22/18
20:02
Initiation
BP initiated at Simmons »

BP assumed with an…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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WRE

Washington REIT

$27.97

-0.305 (-1.08%)

, AAPL

Apple

$220.62

1.34 (0.61%)

19:51
10/22/18
10/22
19:51
10/22/18
19:51
Upgrade
Washington REIT, Apple, Amazon.com rating change at Stifel »

Washington REIT upgraded…

WRE

Washington REIT

$27.97

-0.305 (-1.08%)

AAPL

Apple

$220.62

1.34 (0.61%)

AMZN

Amazon.com

$1,789.00

25.09 (1.42%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 23

    Oct

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JBGS

JBG Smith Properties

$36.81

0.005 (0.01%)

, AAPL

Apple

$220.62

1.34 (0.61%)

19:47
10/22/18
10/22
19:47
10/22/18
19:47
Upgrade
JBG Smith Properties, Apple, Amazon.com rating change at Stifel »

JBG Smith Properties…

JBGS

JBG Smith Properties

$36.81

0.005 (0.01%)

AAPL

Apple

$220.62

1.34 (0.61%)

AMZN

Amazon.com

$1,789.00

25.09 (1.42%)

03/08/13
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03/06/13
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03/06/13
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  • 23

    Oct

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ARNC

Arconic

$21.45

-0.45 (-2.05%)

, APO

Apollo Global

$29.47

-0.02 (-0.07%)

19:38
10/22/18
10/22
19:38
10/22/18
19:38
Periodicals
Arconic Board evaluating $11B Apollo Global offer, Reuters reports »

Arconic is said to have…

ARNC

Arconic

$21.45

-0.45 (-2.05%)

APO

Apollo Global

$29.47

-0.02 (-0.07%)

BX

Blackstone

$34.38

-0.28 (-0.81%)

CG

Carlyle Group

$20.46

0.29 (1.44%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 30

    Oct

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ARNC

Arconic

$21.45

-0.45 (-2.05%)

, APO

Apollo Global

$29.47

-0.02 (-0.07%)

19:34
10/22/18
10/22
19:34
10/22/18
19:34
Periodicals
Breaking Periodicals news story on Arconic, Apollo Global »

Arconic to consider $11B…

ARNC

Arconic

$21.45

-0.45 (-2.05%)

APO

Apollo Global

$29.47

-0.02 (-0.07%)

03/08/13
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03/06/13
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03/06/13
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  • 30

    Oct

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ENLK

EnLink Midstream Partners

$18.10

-0.19 (-1.04%)

19:25
10/22/18
10/22
19:25
10/22/18
19:25
Upgrade
EnLink Midstream Partners rating change at Credit Suisse »

EnLink Midstream Partners…

03/08/13
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03/06/13
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  • 07

    Nov

HLX

Helix Energy

$10.28

0.03 (0.29%)

19:25
10/22/18
10/22
19:25
10/22/18
19:25
Hot Stocks
Helix Energy reports Q3 adjusted EBITDA $58.6M vs. $30.5M last year »

CEO Owen Kratz says:…

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  • 23

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HLX

Helix Energy

$10.28

0.03 (0.29%)

19:24
10/22/18
10/22
19:24
10/22/18
19:24
Earnings
Helix Energy reports Q3 adjusted EPS 18c, consensus 11c »

Reports Q3 revenue…

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  • 23

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UAL

United Continental

$88.62

1.19 (1.36%)

19:13
10/22/18
10/22
19:13
10/22/18
19:13
Periodicals
United CEO upbeat in memo to workers on Q3, SVBJ reports »

In an internal memo to…

03/08/13
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I

Intelsat

$34.98

0.385 (1.11%)

, EUTLF

Eutelsat Communications

$0.00

(0.00%)

19:11
10/22/18
10/22
19:11
10/22/18
19:11
Hot Stocks
Intelsat, SES, Eutelsat in transition on planning to support 5G deployment »

The C-Band Alliance,…

I

Intelsat

$34.98

0.385 (1.11%)

EUTLF

Eutelsat Communications

$0.00

(0.00%)

03/08/13
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  • 30

    Oct

CDNS

Cadence Design

$40.62

0.49 (1.22%)

, SSNC

SS&C

$49.91

-0.37 (-0.74%)

19:05
10/22/18
10/22
19:05
10/22/18
19:05
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

CDNS

Cadence Design

$40.62

0.49 (1.22%)

SSNC

SS&C

$49.91

-0.37 (-0.74%)

FRBA

First Bank

$12.42

0.015 (0.12%)

ZION

Zions Bancorp

$45.33

-1.64 (-3.49%)

RNST

Renasant

$35.44

-1.1 (-3.01%)

CR

Crane

$87.33

-0.28 (-0.32%)

BRO

Brown & Brown

$29.12

0.27 (0.94%)

CEMI

Chembio Diagnostics

$9.68

-0.05 (-0.51%)

RH

RH

$109.10

-13.485 (-11.00%)

MC

Moelis

$50.66

-0.21 (-0.41%)

AMTD

TD Ameritrade

$49.89

-0.6 (-1.19%)

AFMD

Affimed N.V.

$3.15

-0.06 (-1.87%)

PTI

Proteostasis

$7.17

-0.77 (-9.70%)

EIGR

Eiger BioPharmaceuticals

$10.65

-1.2 (-10.13%)

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DIS

Disney

$118.22

-0.59 (-0.50%)

18:55
10/22/18
10/22
18:55
10/22/18
18:55
Periodicals
Disney spends $20M to support Florida's Amendment 3, Bloomberg says »

Disney and the Seminole…

03/08/13
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  • 08

    Nov

HSBC

HSBC

$40.36

-0.095 (-0.23%)

18:50
10/22/18
10/22
18:50
10/22/18
18:50
Periodicals
HSBC teams up with Avant to offer personal loans, Bloomberg says »

HSBC Holdings is…

03/08/13
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WSFS

WSFS Financial

$43.08

-0.46 (-1.06%)

18:49
10/22/18
10/22
18:49
10/22/18
18:49
Earnings
WSFS Financial reports Q3 EPS 96c, consensus 92c »

Reports Q3 NII $63.1M,…

03/08/13
Wedge Partners
03/08/13
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  • 23

    Oct

IQV

Iqvia

$126.36

-0.52 (-0.41%)

, CRM

Salesforce

$142.92

2.47 (1.76%)

18:22
10/22/18
10/22
18:22
10/22/18
18:22
Recommendations
Iqvia, Salesforce analyst commentary at Piper Jaffray »

Iqvia price target raised…

IQV

Iqvia

$126.36

-0.52 (-0.41%)

CRM

Salesforce

$142.92

2.47 (1.76%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 22

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BK

BNY Mellon

$46.47

-0.94 (-1.98%)

18:20
10/22/18
10/22
18:20
10/22/18
18:20
Hot Stocks
BNY Mellon, Bank of the West reach pact on new real-time payments solution »

BNY Mellon and Bank of…

03/08/13
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