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CMG

Chipotle

$453.56

0.77 (0.17%)

, SBUX

Starbucks

$51.15

-0.12 (-0.23%)

07:24
07/19/18
07/19
07:24
07/19/18
07:24

Wedbush cautious on Chipotle, Starbucks ahead of quarterly results

Wedbush analyst Nick Setyan is cautious on Chipotle (CMG) and Starbucks (SBUX) ahead of quarterly results. While the analyst views Chipotle's Q2 comp and margin expectations as realistic, he remains cautious with respect to the 2H18 acceleration in same-store sales growth baked into margin expectations. On Starbucks, while Setyan believes stabilization in U.S. comps in the 2%-3% range is realistic moving forward, he remains cautious regarding management's ability to reaccelerate China comps in the near-term. Without an MSD China run-rate, the analyst believes medium- and long-term EPS growth expectations are at risk. Setyan reiterates a Neutral rating on both stocks.

CMG

Chipotle

$453.56

0.77 (0.17%)

SBUX

Starbucks

$51.15

-0.12 (-0.23%)

  • 26

    Jul

  • 26

    Jul

CMG Chipotle
$453.56

0.77 (0.17%)

07/10/18
07/10/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. STIFEL UPGRADES WYNN TO BUY: Stifel analyst Steven Wieczynski upgraded Wynn Resorts (WYNN) 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," Wieczynski argues that he would rather be early than late "given the volatility of swings in Macau related stocks." Wynn is up 2.7% in midday trading. BARCLAYS OPTIMISTIC ON UNDER ARMOUR'S Q2 RESULTS: Barclays analyst Matthew McClintock said Under Armour (UAA) appears well positioned to meet or exceed guidance for Q2. The analyst, however, questioned if that is enough to make the stock work with the shares up 54% year-to-date. Even if Under Armour beats, the recent stock price appreciation likely limits upside in the stock from here, McClintock told investors. McClintock has an Overweight rating on Under Armour with a $20 price target, below the stock's current levels. MIZUHO CUTS CHIPOTLE TO UNDERPERFORM: Mizuho analyst Jeremy Scott downgraded Chipotle Mexican Grill (CMG) to Underperform while raising his price target for the shares to $330 from $300. After an 80% rally since the new CEO appointment, Chipotle shares currently price in an "aggressive recovery" in both comps and margins, Scott told investors in a research note. The analyst does not see "clear catalysts that can justify significant earnings upside." As such, he recommended investors "reduce their risk." EBAY DOWNGRADED AFTER SCOTUS RULING: SunTrust analyst Youssef Squali downgraded eBay (EBAY) to Hold from Buy and lowered his price target to $40 from $48, citing the anticipated impact of the recent U.S. Supreme Court decision that forces collection of online sales tax on a state level and reverses the 1992 e-commerce precedent. Squali added that eBay's more positive developments around Payments, StubHub and buybacks can limit the downside on the stock. SQUARE DOWNGRADED TO 'HOLD' EQUIVALENT RATINGS BY TWO FIRMS: Jefferies analyst John Hecht downgraded Square (SQ) to Hold from Buy after assuming coverage of the name. The analyst said he sees "broadly positive fundamentals" for the company, but believes the shares are fairly valued at current levels. Oppenheimer analyst Glenn Greene downgraded Square to Perform from Outperform after assuming coverage of the name. While the analyst is optimistic that Square's "robust growth will persist," he estimated that greater than 30% and 55% of annual revenue and EBITDA growth are priced into the shares. As such, he sees "meaningful risk if growth moderates or execution falters." Square is down over 1% in midday trading.
07/10/18
07/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Walgreens Boots Alliance (WBA) downgraded to In Line from Outperform at Evercore ISI. 2. Chipotle (CMG) downgraded to Underperform from Neutral at Mizuho with analyst Jeremy Scott saying after an 80% rally since the new CEO appointment, Chipotle shares currently price in an "aggressive recovery" in both comps and margins. 3. Biogen (BIIB) downgraded to Neutral from Outperform at Baird with analyst Brian Skorney saying that following a quick ~35% move since his April upgrade, he is taking his gains off the table on the back of the BAN2401 results. 4. eBay (EBAY) downgraded to Hold from Buy at SunTrust with analyst Youssef Squali citing the anticipated impact of the recent U.S. Supreme Court decision that forces collection of online sales tax on a state level and reverses the 1992 e-commerce precedent. 5. Square (SQ) assumed and downgraded to a Hold from Buy at Jefferies and a Perform from Outperform at Oppenheimer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/10/18
MZHO
07/10/18
DOWNGRADE
Target $330
MZHO
Underperform
Chipotle downgraded to Underperform from Neutral at Mizuho
Mizuho analyst Jeremy Scott downgraded Chipotle Mexican Grill to Underperform while raising his price target for the shares to $330 from $300. The stock closed yesterday up $12.72, or 3%, to $463.89. After an 80% rally since the new CEO appointment, Chipotle shares currently price in an "aggressive recovery" in both comps and margins, Scott tells investors in a research note. The analyst does not see "clear catalysts that can justify significant earnings upside." As such, he recommends investors "reduce their risk."
07/09/18
BARD
07/09/18
NO CHANGE
Target $500
BARD
Outperform
Chipotle's near-term setup favorable, says Baird, adding Fresh Pick designation
Baird analyst David Tarantino added a Fresh Pick designation to Chipotle Mexican Grill ahead of the company's Q2 results on July 26, telling investors in a research note that the near-term setup appears favorable and that he sees the potential to report "good" quarterly results, with possible upside to EPS estimates. The analyst says he expects same-store sales momentum to accelerate in Q3, leading to greater investor confidence in the company's turnaround prospects under the leadership of new CEO Brian Niccol and more bullish investor sentiment on the shares. Tarantino has an Outperform rating and $500 price target on shares.
SBUX Starbucks
$51.15

-0.12 (-0.23%)

07/16/18
07/16/18
NO CHANGE
Target $58

Outperform
Starbucks price target lowered to $58 from $63 at RBC Capital
As previously reported, RBC Capital analyst David Palmer lowered his price target on Starbucks to $58 while also reducing his expected FY19 EPS to $2.66 from $2.74 and FY20 EPS view to $2.99 from $3.18. The analyst says the company will likely bring down its growth targets to "more realistic levels" of "low single-digit SSS growth and 10% EPS growth" during its upcoming earnings call given that investors are "uncomfortable" with the current long-term algorithm because of slower U.S. SSS growth and recent China SSS headwinds. Palmer keeps his Outperform rating on Starbucks however, saying the guidance reset will be perceived as a positive, while also noting that its current valuation of 18.5-times expected 2019 EPS is "reasonable" given the company's low double-digit total return.
07/06/18
07/06/18
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. Biogen (BIIB) upgraded to Buy from Neutral at Citi with analyst Robyn Karnauskas citing the company's announcement of positive results from an 18-month clinical trial for BAN2401, a drug to treat Alzheimer's. 2. Starbucks (SBUX) upgraded to Hold from Sell at DZ Bank. 3. Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at DZ Bank. 4. Millicom (MIICF) upgraded to Buy from Neutral at BofA/Merrill. 5. ManTech (MANT) upgraded to Buy from Hold at SunTrust with analyst Tobey Sommer citing the company's "superior positioning to further accelerate market share gains and capitalize on federal budget increases". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/06/18
DZBN
07/06/18
UPGRADE
DZBN
Hold
Starbucks upgraded to Hold from Sell at DZ Bank
DZ Bank analyst Michael Pohn upgraded Starbucks to Hold while lowering his price target for the shares to $48 from $52.
07/02/18
SPHN
07/02/18
NO CHANGE
Target $53
SPHN
Equal Weight
Stephens concerned about Starbucks' ability to accelerate comps in near-term
Stephens analyst Will Slabaugh attributes the fact that Starbucks shares are trading at their lowest valuation since the recession following the company's recent pre-announcement to slowing global comps, reduced U.S. unit growth and new questions about China. While China holds the most promise over a 5 year or longer period, he expects the market to remain mostly focused on the U.S. in the near-term and he worries that the company will find it difficult to post meaningfully accelerating comps for a while. Slabaugh keeps an Equal Weight rating on Starbucks and lowered his price target on the stock to $53 from $58.

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CTRP

Ctrip

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CTRP

Ctrip

$37.63

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

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Celanese

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XRAY

Dentsply Sirona

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SIM

Grupo Simec

$9.23

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CPRT

Copart

$64.78

-1.12 (-1.70%)

17:51
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NVS

Novartis

$83.94

1.555 (1.89%)

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PCG

PG&E

$19.00

0.55 (2.98%)

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OBLN

Obalon Therapeutics

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0.842 (211.56%)

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GVA

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Neovasc

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POOL

Pool Corp.

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RTN

Raytheon

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ESV

Ensco Rowan

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AMGN

Amgen

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, GILD

Gilead

$66.51

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Upgrade
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BBX

BBX Capital

$4.95

-0.06 (-1.20%)

, BXG

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RTN

Raytheon

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WEX

Wex

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