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SPOT

Spotify

$187.86

-0.14 (-0.07%)

05:08
07/25/18
07/25
05:08
07/25/18
05:08

Spotify downgraded to Hold from Buy at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak downgraded Spotify to Hold with an unchanged price target of $200. The streaming music service closed yesterday down 24c to $187.81. The analyst cites valuation for the downgrade given the "material rise" in the shares since his initiation report on May 29. Further, he increasingly views consensus 2018 premium monthly active user growth expectations as too aggressive. He lowered his Q2 premium subscriber MAU estimate from 6M to 5.5M, versus the consensus at 7M. Spotify's current valuation is fair and does not leave a lot of room for "operational/market hiccups," Wlodarczak tells investors in a research note.

  • 26

    Jul

SPOT Spotify
$187.86

-0.14 (-0.07%)

07/11/18
07/11/18
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. MCDONALD'S CUT TO NEUTRAL: Cleveland Research analyst Steven Gojak downgraded McDonald's (MCD) to Neutral from Buy after his industry checks led him to believe that its comparable sale results in the second half will trend more in-line with consensus expectations. Gojak, who is still modeling Q2 U.S. comp sales growth of 3.7% for McDonald's, which is above the 3.1% consensus growth view, lowered his 2018 U.S. comp estimate to 3.2% from 3.4%, compared to the consensus of 3.1% growth. McDonald's is down 1% in midday trading. NOMURA INITIATES INTERNET SECTOR: Nomura Instinet initiated coverage on the Americas Internet sector. Nomura Instinet initiated Alphabet Class A (GOOGL), Facebook (FB), and Spotify (SPOT) with Buy ratings, and added that Alphabet and Facebook were the best positioned in this newly regulated industry. It initiated Twitter (TWTR) with a Reduce rating, saying that while it is a "stable long-term asset that has something for everyone," the firm believes the market is pricing in "a significant advertising reacceleration that implies a shift in ad spend," while the firm expects "stability instead of a reacceleration of growth." CREDIT SUISSE POSITIVE ON VERIZON, NEGATIVE ON AT&T: Credit Suisse analyst Douglas Mitchelson initiated Verizon (VZ) with an Outperform rating and a price target of $58. The analyst believes Verizon should benefit from its "major $10B cost savings plan, stable capex spending, record low churn, and the benefit of tax reform." Mitchelson also initiated AT&T (T) with an Underperform rating and a price target of $29. Mitchelson said that AT&T will require greater scale and a shift to global direct-to-consumer distribution, stating that the elevated execution risk under its ownership structure and its wireless business look mature with little chance for stabilization in spite of the coming 5G technology. DISNEY VALUATION NOT COMPELLING: Credit Suisse analyst Douglas Mitchelson initiated Disney (DIS) with a Neutral rating and a price target of $114. The analyst noted that the company is "the best positioned traditional media company", but believes the Street has not sufficiently discounted the costs associated with Disney's push into direct-to-consumer streaming services, adding that FY19 will be extra challenging because of high film comps and major theme park project launches.
07/23/18
BTIG
07/23/18
INITIATION
Target $230
BTIG
Buy
Spotify initiated with a Buy at BTIG
BTIG analyst Rich Greenfield initiated Spotify (SPOT) with a Buy rating and a price target of $230, saying that awaiting a better entry on the stock price "has not worked". The analyst contends that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come". Greenfield attributes Spotify's advantages to the "magic six" features of its platform, namely the ubiquity of its platform across mobile OS, its global reach relative to Pandora's (P) U.S.-only presence, easy access of Spotify app from the mobile homescreen, high engagement of 44% monthly active users reporting daily use, favorable credit card billing relationships with its 57M account holders, and customer loyalty.
07/23/18
07/23/18
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. Spotify (SPOT) initiated with a Buy at BTIG. 2. BJ's Wholesale (BJ) initiated with an Outperform at William Blair and Baird, a Buy at Jefferies, BofA/Merrill, Citi, and Nomura Instinet, an Equal Weight at Morgan Stanley, a Market Perform at Wells Fargo, as well as a Neutral at JPMorgan, and Goldman Sachs. 3. EverQuote (EVER) initiated with an Overweight at JPMorgan, an Outperform at JMP Securities, Oppenheimer, and William Blair, a Buy at Canaccord and BofA/Merrill, as well as a Market Perform at Raymond James. 4. International Paper (IP) resumed with a Buy at Citi. 5. Centene (CNC) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/23/18
07/23/18
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 SAYS SELL PAPA JOHN'S: Stifel analyst Chris O'Cull downgraded Papa John's (PZZA) to Sell from Hold and cut his price target for the shares to $38 from $50. The outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture," O'Cull told investors. The reports reinforce the consumer perception that Papa John's is not a trusted brand, the analyst added. His recent channel checks indicate the company's domestic same-restaurant-sales are running down in the mid-teens since last week's media report about the company's founder using a racial slur. Papa John's is in a "precarious position," as it needs a "strategic savior" but is struggling to find one "willing to underwrite a transaction given the brand damage," O'Cull contended. Papa John's shares are down 7% in midday trading BTIG SAYS BUY SPOTIFY: BTIG analyst Rich Greenfield initiated Spotify (SPOT) with a Buy rating and a price target of $230, saying that awaiting a better entry on the stock price "has not worked." The analyst contended that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come." DEUTSCHE RAISES QUALCOMM TARGET TO $60: Deutsche Bank analyst Ross Seymore raised his price target for Qualcomm (QCOM) shares to $60 from $55 after concluding that removal of the uncertainty from the NXP Semiconductors (NXPI) deal likely leads to incremental upside in either scenario. The analyst said he has no way of assigning probabilities of deal approval given the politically charged nature of the pending regulatory ruling from China's State Administration for Market Regulation. Seymore kept Hold ratings on both Qualcomm and NXP. ARGUS CUTS GE TO HOLD: Argus analyst John Eade downgraded General Electric (GE) to Hold from Buy, saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. Eade lowered his FY18 EPS forecast to 97c from $1.03, adding that GE will need to show at least two quarter of progress before he would reconsider his rating. The analyst prefers other large industrials such as Illinois Tool Works (ITW), United Technologies (UTX) and Boeing (BA) over General Electric, he added.

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Facebook

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Twitter

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SharpSpring

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13:15
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SharpSpring

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13:13
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13:13
Hot Stocks
SharpSpring says added 290 new customers in Q2 »

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AMD

AMD

$33.94

0.12 (0.35%)

13:10
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Options
Jelly roll in Advanced Micro Devices boosts options volume »

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NFLX

Netflix

$365.99

0.27 (0.07%)

, T

AT&T

$33.44

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13:07
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13:07
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On The Fly
Fly Intel: What to watch in Netflix earnings report »

Netflix (NFLX) is…

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CMCSA

Comcast

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Apple

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0.54 (0.26%)

DIS

Disney

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CSX

CSX

$71.17

-8.4 (-10.56%)

, UNP

Union Pacific

$164.98

-10.12 (-5.78%)

13:01
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Downgrade
CSX, Union Pacific, Kansas City Southern, Norfolk Southern rating change  »

Cascend downgrades four…

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CSX

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UNP

Union Pacific

$164.98

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KSU

Kansas City Southern

$117.42

-5.41 (-4.40%)

NSC

Norfolk Southern

$193.18

-13.35 (-6.46%)

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UPS

UPS

$103.54

-2.07 (-1.96%)

12:55
07/17/19
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Options
UPS put volume heavy and directionally bearish »

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VAR

Varian Medical

$134.22

-0.72 (-0.53%)

, VRAY

ViewRay

$9.31

0.16 (1.75%)

12:49
07/17/19
07/17
12:49
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Recommendations
Varian Medical, ViewRay analyst commentary  »

Competitor recall…

VAR

Varian Medical

$134.22

-0.72 (-0.53%)

VRAY

ViewRay

$9.31

0.16 (1.75%)

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TTWO

Take-Two

$118.37

0.88 (0.75%)

12:43
07/17/19
07/17
12:43
07/17/19
12:43
Earnings
Stephens, Cowen up Take-Two price targets ahead of Q1 results »

Take-Two (TTWO) shares…

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SSRM

SSR Mining

$14.72

0.665 (4.73%)

12:25
07/17/19
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12:25
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12:25
Options
SSR Mining call volume above normal and directionally bullish »

Bullish option flow…

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General news
Treasury Action: the downdraft in European rates has helped pulling Treasury yields lower »

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CAPR

Capricor Therapeutics

$6.39

0.48 (8.12%)

12:25
07/17/19
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Conference/Events
Capricor Therapeutics to host conference call »

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IBM

IBM

$142.94

-0.6 (-0.42%)

12:24
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Earnings
Fly Intel: What to watch in IBM's earnings report »

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AMZN

Amazon.com

$1,999.39

-10.61 (-0.53%)

, QCOM

Qualcomm

$76.74

1.08 (1.43%)

12:23
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On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks have dropped in…

AMZN

Amazon.com

$1,999.39

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QCOM

Qualcomm

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MSFT

Microsoft

$137.11

0.03 (0.02%)

T

AT&T

$33.47

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BAC

Bank of America

$29.47

0.475 (1.64%)

CSX

CSX

$71.11

-8.46 (-10.63%)

ABT

Abbott

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3.22 (3.87%)

SGEN

Seattle Genetics

$73.43

10.31 (16.33%)

INO

Inovio

$2.65

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NUS

Nu Skin

$37.95

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KSU

Kansas City Southern

$118.05

-4.78 (-3.89%)

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Kansas City Southern rating change  »

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NSC

Norfolk Southern

$194.90

-11.63 (-5.63%)

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Norfolk Southern rating change  »

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CSX

CSX

$71.21

-8.36 (-10.51%)

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Downgrade
CSX rating change  »

CSX downgraded to Hold…

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UNP

Union Pacific

$166.50

-8.6 (-4.91%)

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Union Pacific rating change at C.K. Cooper »

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$NSD

NASDAQ Market Internals

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12:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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NTAP

NetApp

$59.31

0.36 (0.61%)

12:15
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Options
NetApp put volume heavy and directionally bearish »

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12:15
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Breaking General news story  »

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