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AMZN

Amazon.com

$1,842.36

-1.64 (-0.09%)

, FB

Facebook

$209.35

-0.64 (-0.30%)

07:35
07/19/18
07/19
07:35
07/19/18
07:35

JPMorgan continues to like Amazon shares into Q2 results

JPMorgan analyst Doug Anmuth continues to like shares of Amazon.com (AMZN) into the company's Q2 results on July 26. Amazon remains one of the analyst's top picks, along with Facebook (FB) and Twitter (TWTR), and is on his firm's Analyst Focus List. Anmuth says that even with Amazon shares at all-time highs, he likes the stock into earnings as company fundamentals and industry trends "remain strong." He believes there is upside potential to consensus Q2 and Q3 revenue estimates, while profit expectations "remain in check" with less downside risk to numbers than in prior quarters. Anmuth has an Overweight rating on Amazon with a $1,900 price target.

AMZN

Amazon.com

$1,842.36

-1.64 (-0.09%)

FB

Facebook

$209.35

-0.64 (-0.30%)

TWTR

Twitter

$43.34

-1.36 (-3.04%)

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AMZN Amazon.com
$1,842.36

-1.64 (-0.09%)

07/18/18
JPMS
07/18/18
NO CHANGE
Target $185
JPMS
Neutral
Intuit transition to AWS accelerating, says JPMorgan
JPMorgan analyst Sterling Auty says that with this morning's sale of its largest data center, Intuit is signaling a faster transition to the public cloud than previously discussed. TurboTax online users were entirely on Amazon Web Services (AMZN) by the end of the tax season, and now this transition "opens the door" to move all Quickbooks Online customers to the public cloud as well, Auty tells investors in a research note. He keeps a Neutral rating on Intuit shares with a $185 price target.
07/18/18
07/18/18
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. MACQUARIE CUTS TWITTER TO NEUTRAL: Macquarie analyst Benjamin Schachter downgraded Twitter (TWTR) to Neutral from Outperform, citing concerns about MAU trends, what he views as a limited set of near-term catalysts, and a valuation he believes will likely limit upside from current levels. GOLDMAN SAYS SELL CLOROX: Goldman Sachs analyst Jason English downgraded Clorox (CLX) to Sell from Neutral and cut his price target for the shares to $112 from $127. The analyst reduced his estimates for the company to reflect a combination of a lower volume forecast, lower gross margin expectation and renewed currency headwinds. English sees an "unsustainably high relative valuation" for Clorox. PIPER RAISES AMAZON TARGET: Piper Jaffray analyst Michael Olson raised his price target on Amazon.com (AMZN) to $2,075 from $1,850 and kept his Overweight rating ahead of its Q2 results. Olson noted that his search index suggests that unit growth will be up 19% -- in line with Q1 and just below consensus for the online segment. The analyst added, however, that his CIO survey suggests intentions to accelerate spending, stating that the AWS segment and other segment revenue is likely to post an upside. Olson is positive on the Amazon stock amid a "plethora of topline tailwinds and potential return to margin expansion" in the second half of this year. CITI SAYS NVIDIA COULD SELL OFF: Citi analyst Atif Malik said his recent supply chain checks indicate discrete graphics gaming demand is expected to remain sluggish thru the September quarter, and believes Nvidia (NVDA) could selloff in the near-term on weaker than expected graphics commentary. Malik, however, kept a Buy rating on Nvidia with a $300 price target, believing his long-term thesis on the shares remains intact. COMERICA UP TO OUTPERFORM: Evercore ISI analyst John Pancari upgraded Comerica (CMA) to Outperform from In Line and increased his price target to $107 from $97 following the Q2 report. Pancari said he expects earnings growth to outpace peers while returns continue to strengthen, supported by a favorable positioning for higher short-term rates, ongoing efficiency improvement, and intact credit.
07/18/18
BARD
07/18/18
NO CHANGE
Target $1300
BARD
Outperform
EC ruling against Google is 'pro-Amazon,' says Baird
Baird analyst Colin Sebastian believes the European Commission's ruling against Google (GOOGL) is "a bit misguided," but he also thinks it should have a limited direct impact on Google since it ostensibly does not force a change to its search algorithm and seems "relatively straight-forward" to comply with. The "pro-Amazon ruling" has obvious benefits to Amazon (AMZN) and potentially Apple (AAPL), argues Sebastian, as he notes that the EC will require Android users to take another step before they can access an alternative product search engine and forcing Google to support forked-versions of Android could directly benefit Amazon's Fire devices. Despite the direct and/or indirect benefits of this ruling for Apple and Amazon, Sebastian maintains his positive view on Alphabet and keeps an Outperform rating and $1,300 price target on the shares.
07/19/18
RHCO
07/19/18
UPGRADE
Target $27
RHCO
Buy
Lionsgate upgraded to Buy at SunTrust on stronger Starz slate
As reported earlier, SunTrust analyst Matthew Thornton upgraded Lionsgate (LGF.B) to Buy from Hold, citing expectations of a stronger content slate at Starz driving the higher subscriber count while also increasing its distribution, with the addition of Amazon (AMZN) UK/Germany, YouTube (GOOGL) TV USA, Hulu TV USA, and Bell Canada. The analyst also anticipates higher subs count amid abating Starz MVPD headwinds from international expansion and secular growth in OTT. Thornton lowers his price target to $27 from $31, but notes that his target multiple assumption and OIBDA forecast for FY19 and FY20 are largely unchanged.
FB Facebook
$209.35

-0.64 (-0.30%)

07/13/18
LEHM
07/13/18
NO CHANGE
Target $24
LEHM
Underweight
Twitter valuation 'the primary factor that gives us pause,' says Barclays
Barclays analyst Ross Sandler maintained an Underweight rating and $24 price target on Twitter (TWTR) ahead of its quarterly earnings, telling investors in a research note that while he thinks the company will report "solid" revenue and EBITDA, the company, like Facebook (FB) and Snap (SNAP), will have issues with MAU around GDPR and account clean up. However, he says the company is executing well on its turnaround, checks are pointing to advertisers allocating more to Twitter, which should support mid-20%s O+O ad revenue growth, and says valuation remains the major factor "that gives us pause."
07/13/18
JEFF
07/13/18
NO CHANGE
Target $240
JEFF
Buy
Facebook price target raised to $240 from $215 at Jefferies
Jefferies analyst Brent Thill raised his price target for Facebook (FB) shares to $240 from $215 ahead of the Q2 reporting season for the Internet space. The social media giant closed yesterday up 2% to $206.98. Amazon.com (AMZN), Facebook and Google (GOOGL) are the analyst's top large-cap picks into the earnings season. Expedia (EXPE) is Thill's top value play while IAC (IAC) and GoDaddy (GDDY) are his favorite names among smaller caps. Facebook continues to be the best return on investment for advertisers as Instagram shows continued strength and more ad opportunities are being added, Thill tells investors in a research note on the Internet space. He sees earnings per share of $10-plus "on the horizon." A 25-30 times multiple off that yields a stock price of $250-$300 for Facebook, the analyst points out. Thill keeps a Buy rating on the name.
07/16/18
FBCO
07/16/18
NO CHANGE
Target $265
FBCO
Outperform
Facebook price target raised to $265 from $240 at Credit Suisse
Credit Suisse analyst Stephen Ju raised his price target for Facebook to $265 from $240 following favorable checks with advertisers. Similar to the feedback last quarter, the analyst's advertiser checks indicate modest deceleration in ad budget growth overall. But slowing budget growth for the Facebook app is offset by Instagram, which at this point seems to account for roughly 20% of budgets spent, he notes, adding that this indicates that Instagram revenue growth remains well into the triple digits, albeit coming from a lower base. Ju believes the next tactical catalyst for the shares will be the 2019 guidance for CapEx, which will signal resumption of free cash flow growth. He reiterates an Outperform rating on the shares.
07/18/18
07/18/18
DOWNGRADE

Neutral
Macquarie sees mixed results for U.S. internet large-caps, downgrades Twitter
As previously reported, Macquarie analyst Benjamin Schachter downgraded Twitter (TWTR) to Neutral from Outperform, citing concerns about MAU trends, what he views as a limited set of near-term catalysts and a valuation he believes will likely limit upside from current levels. In his note previewing the upcoming earnings season for U.S. large-cap internet names, Schachter said he expects "somewhat mixed results," identifying Amazon (AMZN), Facebook (FB) and Apple (AAPL) as the stocks on which he is most bullish. He added that he is "increasingly frustrated" with the lack of visibility into the core revenue drivers for Alphabet (GOOGL) and he does not "expect much" from eBay (EBAY) this quarter.
TWTR Twitter
$43.34

-1.36 (-3.04%)

07/18/18
MACQ
07/18/18
DOWNGRADE
MACQ
Neutral
Twitter downgraded to Neutral from Outperform at Macquarie
07/18/18
07/18/18
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. Twitter (TWTR) downgraded to Neutral from Outperform at Macquarie with analyst Benjamin Schachter citing concerns about MAU trends, what he views as a limited set of near-term catalysts and a valuation he believes will likely limit upside from current levels. 2. Clorox (CLX) downgraded to Sell from Neutral at Goldman Sachs with analyst Jason English citing a combination of a lower volume forecast, lower gross margin expectation and renewed currency headwinds. 3. Autoliv (ALV) and Visteon (VC) were downgraded to Market Perform from Outperform at Wells Fargo. 4. Broadcom (AVGO) downgraded to Neutral from Buy at Goldman Sachs with analyst Toshiya Hari saying he sees increased uncertainty surrounding the company's "strategic focus going forward" following its acquisition of CA Technologies (CA). 5. Windstream (WIN) and Uniti Group (UNIT) were downgraded to Sell from Neutral at Citi. 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

DGAZ

VelocityShares 3x Inv Natural Gas ETN

$20.73

-0.52 (-2.45%)

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$68.23

1.53 (2.29%)

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EWZ

MSCI Brazil Index

$34.73

0.74 (2.18%)

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EFA

iShares MSCI EAFE Index Fund

$66.50

0.01 (0.02%)

06:54
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EEFT

Euronet

$94.54

0.66 (0.70%)

06:54
08/15/18
08/15
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Conference/Events
Euronet management to meet with Needham »

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JNK

SPDR Barclays High Yield Bond

$35.86

0.065 (0.18%)

06:53
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08/15
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SPDR Barclays High Yield Bond: Pivot points »

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SJB

ProShares Short High Yield

$22.78

0.025 (0.11%)

06:53
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DIOD

Diodes

$37.81

0.07 (0.19%)

06:52
08/15/18
08/15
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Conference/Events
Diodes management to meet with Benchmark »

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HYG

iShares iBoxx $ High Yield Corporate Bond

$85.97

0.16 (0.19%)

06:52
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08/15
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LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.50

0.155 (0.13%)

06:52
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TLT

iShares 20+ Year Treasury Bond Fund

$120.14

-0.32 (-0.27%)

06:51
08/15/18
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06:51
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iShares 20+ Year Treasury Bond Fund: Pivot points »

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SLV

iShares Silver Trust

$14.17

0.075 (0.53%)

06:50
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iShares Silver Trust: Pivot points, pivot low broken »

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CSOD

Cornerstone OnDemand

$52.59

0.48 (0.92%)

06:50
08/15/18
08/15
06:50
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06:50
Conference/Events
Cornerstone OnDemand management to meet with JMP Securities »

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USLV

VelocityShares 3x Long Silver ETN

$7.31

0.12 (1.67%)

06:49
08/15/18
08/15
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Technical Analysis
VelocityShares 3x Long Silver ETN: Pivot points, pivot low broken »

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CCMP

Cabot Microelectronics

$121.32

0.1 (0.08%)

06:49
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06:49
Conference/Events
Cabot Microelectronics management to meet with Needham »

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IYR

DJ US Real Estate Index Fund

$81.16

0.44 (0.55%)

06:48
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BLDR

Builders FirstSource

$16.86

0.85 (5.31%)

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Builders FirstSource management to meet with Stephens »

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BMS

Bemis

$49.51

0.12 (0.24%)

, BERY

Berry Global

$45.77

-0.07 (-0.15%)

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Upgrade
Bemis, Berry Global, Graphic Packaging rating change  »

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BMS

Bemis

$49.51

0.12 (0.24%)

BERY

Berry Global

$45.77

-0.07 (-0.15%)

GPK

Graphic Packaging

$14.30

0.19 (1.35%)

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IBB

iShares Nasdaq Biotechnology Index

$117.24

0.7 (0.60%)

06:48
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UPS

UPS

$118.97

0.8 (0.68%)

06:47
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Periodicals
UPS reaches labor deal with aircraft mechanics, WSJ reports »

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LABD

Daily S&P Biotech Bear 3x Shares

$25.69

-0.41 (-1.57%)

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EWH

MSCI Hong Kong Index

$24.20

0.07 (0.29%)

06:46
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EWG

iShares MSCI Germany

$29.59

(0.00%)

06:46
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IJR

iShares Core S&P Small Cap ETF

$87.94

1.12 (1.29%)

06:46
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EEM

MSCI Emerging Markets Index

$42.76

0.265 (0.62%)

06:45
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MSCI Emerging Markets Index: Pivot points, pivot low broken »

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