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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%)

  • 19

    Jul

  • 27

    Jul

  • 08

    Aug

SYF Synchrony
$32.95

-1.86 (-5.34%)

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.
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.
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.
07/13/18
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".
WMT Walmart
$86.50

0.13 (0.15%)

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.
07/03/18
CLVD
07/03/18
NO CHANGE
CLVD
Walmart mentioned positively at Cleveland Research
COF Capital One
$95.25

-0.06 (-0.06%)

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.
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.

TODAY'S FREE FLY STORIES

GOOG

Alphabet

$1,195.81

-3 (-0.25%)

, GOOGL

Alphabet Class A

$1,212.64

-1.01 (-0.08%)

09:34
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07/19
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Hot Stocks
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GOOG

Alphabet

$1,195.81

-3 (-0.25%)

GOOGL

Alphabet Class A

$1,212.64

-1.01 (-0.08%)

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  • 23

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EBAY

eBay

$37.95

0.13 (0.34%)

09:33
07/19/18
07/19
09:33
07/19/18
09:33
Recommendations
eBay analyst commentary  »

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FTNT

Fortinet

$66.81

-0.09 (-0.13%)

09:33
07/19/18
07/19
09:33
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09:33
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Fortinet rating change  »

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  • 01

    Aug

PLT

Plantronics

$76.03

-1.03 (-1.34%)

09:32
07/19/18
07/19
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09:32
Periodicals
Plantronics mentioned cautiously by Seeking Alpha contributor 

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BGG

Briggs & Stratton

$17.71

0.235 (1.34%)

09:30
07/19/18
07/19
09:30
07/19/18
09:30
Downgrade
Briggs & Stratton rating change  »

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09:30
07/19/18
07/19
09:30
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09:30
General news
Breaking General news story  »

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SQ

Square

$68.30

-0.02 (-0.03%)

09:29
07/19/18
07/19
09:29
07/19/18
09:29
Recommendations
Square analyst commentary  »

Square price target…

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  • 01

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FITB

Fifth Third

$30.26

0.75 (2.54%)

09:29
07/19/18
07/19
09:29
07/19/18
09:29
Hot Stocks
Fifth Third sees Q3 NIM flat from Q2 »

Says expects to achieve…

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  • 19

    Jul

BA

Boeing

$360.23

3.28 (0.92%)

09:28
07/19/18
07/19
09:28
07/19/18
09:28
Hot Stocks
Boeing announces $100B in orders and commitments at Farnborough Airshow »

Boeing strengthened its…

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  • 25

    Jul

PM

Philip Morris

$82.16

-0.17 (-0.21%)

09:27
07/19/18
07/19
09:27
07/19/18
09:27
Hot Stocks
Breaking Hot Stocks news story on Philip Morris »

Philip Morris cuts FY18…

03/08/13
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  • 19

    Jul

UAL

United Continental

$79.02

6.355 (8.75%)

09:27
07/19/18
07/19
09:27
07/19/18
09:27
Recommendations
United Continental analyst commentary  »

United Continental price…

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PM

Philip Morris

$82.16

-0.17 (-0.21%)

09:27
07/19/18
07/19
09:27
07/19/18
09:27
Earnings
Philip Morris sees Q3 net revenue up about 1% ex-currency, consensus $7.87B »

Sees net revenue decline…

03/08/13
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03/08/13
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03/06/13
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  • 19

    Jul

PM

Philip Morris

$82.16

-0.17 (-0.21%)

09:25
07/19/18
07/19
09:25
07/19/18
09:25
Hot Stocks
Philip Morris CFO says IQOS tracking below initial expectations for 2018 »

Says plans to introduce…

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  • 19

    Jul

09:25
07/19/18
07/19
09:25
07/19/18
09:25
Conference/Events
UBS European oil and gas analyst to hold an analyst/industry conference call »

European Oil & Gas…

TYL

Tyler Technologies

$237.74

0.33 (0.14%)

09:22
07/19/18
07/19
09:22
07/19/18
09:22
Hot Stocks
Tyler Technologies announces agreement with city of Atlanta for EnerGov »

Tyler Technologies…

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  • 27

    Jul

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    Sep

NCLH

Norwegian Cruise Line

$50.15

2.565 (5.39%)

09:22
07/19/18
07/19
09:22
07/19/18
09:22
Recommendations
Norwegian Cruise Line analyst commentary  »

Norwegian Cruise Line…

03/08/13
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BHLB

Berkshire Hills Bancorp

$40.80

0.15 (0.37%)

09:22
07/19/18
07/19
09:22
07/19/18
09:22
Upgrade
Berkshire Hills Bancorp rating change  »

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  • 19

    Jul

BPMX

BioPharmX

$0.20

-0.0006 (-0.30%)

09:21
07/19/18
07/19
09:21
07/19/18
09:21
Hot Stocks
BioPharmX granted CARC waiver by FDA for acne candidate BPX-01 »

BioPharmX announced that…

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09:20
07/19/18
07/19
09:20
07/19/18
09:20
General news
Fed's Quarles said the implementation of SOFR »

Fed's Quarles said…

GWW

Grainger

$338.99

33.78 (11.07%)

09:18
07/19/18
07/19
09:18
07/19/18
09:18
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Grainger analyst commentary  »

Grainger price target…

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
07/19/18
07/19
09:18
07/19/18
09:18
Options
Overnight activity included 163 trades in SPX and 5 trades in VIX »

163 trades were executed…

SPX

S&P 500

$0.00

(0.00%)

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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FITB

Fifth Third

$30.26

0.75 (2.54%)

09:16
07/19/18
07/19
09:16
07/19/18
09:16
Hot Stocks
Fifth Third sees FY18 tax rate 16%-16.5% »

Says second half net…

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  • 19

    Jul

VRS

Verso

$21.21

-0.01 (-0.05%)

09:16
07/19/18
07/19
09:16
07/19/18
09:16
Recommendations
Verso analyst commentary  »

Verso should be owned…

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  • 24

    Sep

D

Dominion

$69.96

-0.42 (-0.60%)

, DM

Dominion Midstream

$13.65

-0.05 (-0.36%)

09:15
07/19/18
07/19
09:15
07/19/18
09:15
Hot Stocks
Dominion Midstream jumps after FERC modifies gas pipeline tax law-related rule »

Shares of Dominion Energy…

D

Dominion

$69.96

-0.42 (-0.60%)

DM

Dominion Midstream

$13.65

-0.05 (-0.36%)

AMID

American Midstream Partners

$11.55

1.025 (9.74%)

ANDX

Andeavor Logistics

$43.20

0.99 (2.35%)

AMGP

Antero Midstream GP

$18.67

0.03 (0.16%)

AM

Antero Midstream Partners

$30.84

0.9 (3.01%)

APLP

Archrock Partners LP

$0.00

(0.00%)

BKEP

Blueknight Energy Partners

$3.00

-0.15 (-4.76%)

BWP

Boardwalk Pipeline

$0.00

(0.00%)

BPL

Buckeye Partners

$33.23

-1.725 (-4.94%)

CQP

Cheniere Energy Partners

$36.46

0.71 (1.99%)

CNXM

CNX Midstream Partners

$19.37

0.14 (0.73%)

CEQP

Crestwood Equity

$34.20

0.7 (2.09%)

CCLP

CSI Compressco

$5.57

0.1 (1.83%)

DCP

DCP Midstream

$42.40

0.58 (1.39%)

DKL

Delek Logistics

$28.10

0.2 (0.72%)

ENBL

Enable Midstream

$18.30

0.52 (2.92%)

EEQ

Enbridge Energy Management

$10.12

-0.08 (-0.78%)

EEP

Enbridge Energy

$10.57

-0.1 (-0.94%)

ETP

Energy Transfer Partners

$19.40

0.135 (0.70%)

ETE

Energy Transfer Equity

$17.16

0.07 (0.41%)

ENLC

EnLink Midstream

$15.60

0.3 (1.96%)

ENLK

EnLink Midstream Partners

$15.44

0.52 (3.49%)

EPD

Enterprise Products

$28.65

0.43 (1.52%)

EQM

EQT Midstream Partners

$55.18

1.245 (2.31%)

MMLP

Martin Midstream Partners

$13.50

-0.05 (-0.37%)

MMP

Magellan Midstream

$68.03

0.58 (0.86%)

MPLX

MPLX

$34.85

1.33 (3.97%)

NGL

NGL Energy Partners

$12.60

0.4 (3.28%)

NBLX

Noble Midstream

$51.22

0.13 (0.25%)

NS

NuStar Energy

$24.84

0.4 (1.64%)

SHLX

Shell Midstream

$22.93

0.61 (2.73%)

TEGP

Tallgrass Energy GP

$0.00

(0.00%)

TEP

Tallgrass Energy Partners

$0.00

(0.00%)

TLP

TransMontaigne

$39.66

0.77 (1.98%)

VLP

Valero Energy Partners

$38.91

0.17 (0.44%)

WES

Western Gas Partners

$49.45

0.835 (1.72%)

WPZ

Williams Partners

$41.92

1.35 (3.33%)

03/08/13
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    Jul

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    Jul

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    Jul

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    Aug

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    Aug

  • 03

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    Aug

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    Aug

  • 08

    Aug

  • 08

    Aug

  • 01

    Oct

  • 07

    Nov

09:15
07/19/18
07/19
09:15
07/19/18
09:15
General news
U.S. equities were dented with global stocks »

U.S. equities were dented…

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