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SPOT

Spotify

$187.86

-0.14 (-0.07%)

, AAPL

Apple

$192.96

1.36 (0.71%)

09:12
07/25/18
07/25
09:12
07/25/18
09:12

Apple Music threat to Spotify 'manageable,' says Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne notes that streaming adoption is accelerating and he believes rising smartphone penetration, increased wireless network capacity, smart speaker adoption and connected cars can support a market with multiple "winners." Additionally, Android's global lead over iOS suggests the threat to Spotify (SPOT), the global leader in music streaming, from Apple Music (AAPL) is "manageable," Swinburne tells investors. He maintains an Overweight rating and $190 price target on Spotify shares, though he sees a "bull case" for the stock reaching $300 per share.

SPOT

Spotify

$187.86

-0.14 (-0.07%)

AAPL

Apple

$192.96

1.36 (0.71%)

  • 26

    Jul

  • 31

    Jul

SPOT Spotify
$187.86

-0.14 (-0.07%)

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.
07/25/18
PIVT
07/25/18
DOWNGRADE
Target $200
PIVT
Hold
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.
07/25/18
DBAB
07/25/18
NO CHANGE
Target $170
DBAB
Hold
Spotify price target raised to $170 from $155 at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley raised his price target for Spotify to $170 ahead of the company's Q2 results and keeps a Hold rating on the shares. The analyst expects "solid" near-term results from Spotify as the company benefits from some new country launches and enhancements to its free trial. He also sees the company's gross margins continuing to benefit from improvement in ad monetization and the benefit from the latest major label deals.
AAPL Apple
$192.96

1.36 (0.71%)

07/23/18
BMOC
07/23/18
NO CHANGE
Target $184
BMOC
Market Perform
Apple price target raised to $184 from $171 at BMO Capital
BMO Capital analyst Tim Long raised his price target on Apple to $184, saying his revision is based on the company's relative valuation aided by its "large share buyback program" rather than any update to his projections model ahead of its July 31st earnings. The analyst adds that he is also raising his target forward earnings multiple on the stock to 14-times from 13-times, which is still a 13% discount relative to the S&P500. Longer term, Long keeps his Market Perform rating on Apple, noting the company's continued market share loss in China and the potential extension of its iPhone replacement cycle if the new product is not compelling, having already "normalized" to 2.5 years from 2.2 years for the iPhone 6 models.
07/24/18
MSCO
07/24/18
NO CHANGE
Target $232
MSCO
Overweight
Apple price target raised to $232 from $214 at Morgan Stanley
Morgan Stanley analyst Katy Huberty raised her June quarter iPhone units estimate by 2% to 39.8M units, stating that she expects Apple to report "in-line" quarterly results and give "slightly weaker than consensus" guidance for its September quarter due to a possible October launch of the 6.1" LCD iPhone. She notes all three new iPhone models are still expected to be announced in September and looks to the launch as the next meaningful stock catalyst. She expects Services results, which she sees outpacing consensus, to be the focal point of June quarter report. Ahead of Apple's Q3 report next week, Huberty increased her price target on the shares to $232 from $214 and keeps an Overweight rating on the stock.
07/24/18
ARGS
07/24/18
NO CHANGE
Target $225
ARGS
Buy
Apple to post 'modest' Q2 earnings beat, says Argus
Argus analyst Jim Kelleher kept his Buy rating and $225 price target on Apple ahead of its Q3 results, saying the company is is likely to post "solid" sales and profit growth with a "modest" beat relative to consensus expectations. Kelleher anticipates a single-digit growth rate in iPhone unit sales but "double digit" iPhone revenue growth, driven by higher average selling prices. The analyst also forecasts a "strong" mid- to high-teens growth in the high-margin services business, which is Apple's second-largest category by revenue.
07/24/18
07/24/18
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. MOSAIC DOUBLE UPGRADED: BofA Merrill Lynch double upgraded Mosaic (MOS) to Buy from Underperform and raised its price target to $35 from $24. Analyst Steve Byrne said he believes 2018 will mark a bottom in global phosphate utilization rates and now believes there is more upside risk to consensus estimates as the cycle improves. Mosiac was higher by 3.5% approaching midday. BTIG SAYS BUY LIVE NATION: BTIG analyst Brandon Ross upgraded Live Nation (LYV) to Buy from Neutral with a $60 price target, saying he is now more convinced that the company will outperform expectations amid inflecting growth with an added possibility of M&A. Despite the tough comparisons, Ross notes that Live Nation should "handily" top operating income consensus in FY18 and going forward, having built an "insurmountable" competitive float in U.S. markets, and that its mid-teens EBITDA growth is "the new normal". WHIRLPOOL CUT AFTER EARNINGS: Longbow analyst David MacGregor downgraded Whirlpool (WHR) to Neutral from Buy after the company reported Q2 earnings that missed the firm's "Street low" estimate of $3.55, calling its quarter "disappointing across most dimensions of the business." Expectations for a recovery in the EMEA region are being pushed out to beyond 2020, noted MacGregor, who is waiting for after the company's earnings call to reassess his view of its earnings prospects. MIZUHO CALLS EOG 'THE APPLE OF OIL': Mizuho analyst Paul Sankey started EOG Resources (EOG) with a Buy rating and $173 price target, calling EOG -- his top pick in the group -- the Apple (AAPL) of oil. EOG has been a pioneer in unconventional oil development in the U.S. and its technology-driven, innovation-focused approach will continue to drive peer-leading rates of return and oil growth, the analyst contended. EOG was up 2.6% near midday. SUSQUEHANNA RAISES ALPHABET TARGET TO $1,500: After Alphabet's (GOOG, GOOGL) Q2 earnings report on Monday night, many analyst firms raised their price targets on the name. The highest of those targets was from Susquehanna analyst Shyam Patil, who raised his price target on Alphabet to $1,500 from $1,250. The analyst cited the "impressive" sites revenue growth acceleration, which he sees as evidence that the secular momentum for the ads business remains in place. Patil reiterated his Positive rating on Alphabet shares. Class A shares of Google's parent were up over 4% to $1,260.80 at time of writing.

TODAY'S FREE FLY STORIES

BHVN

Biohaven Pharmaceutical

$44.16

-0.61 (-1.36%)

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  • 09

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CE

Celanese

$107.01

0.9 (0.85%)

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Celanese announces acetyl intermediates price increases »

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  • 23

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F

Ford

$10.20

-0.06 (-0.58%)

17:48
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07/19
17:48
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17:48
Periodicals
Ford plans to lay off 185 employees at Ontario plant, Reuters reports »

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  • 24

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RTN

Raytheon

$178.55

2.45 (1.39%)

17:48
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Raytheon awarded $191.01M Air Force contract modification »

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  • 25

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UTX

United Technologies

$132.37

1.08 (0.82%)

17:44
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17:44
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United Technologies awarded $253.71M Air Force contract »

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  • 23

    Jul

LMT

Lockheed Martin

$356.90

0.675 (0.19%)

17:40
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17:40
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Lockheed Martin awarded $1.47B Missile Defense Agency contract modification »

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  • 23

    Jul

ARES

Ares Management

$28.13

-0.305 (-1.07%)

17:33
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17:33
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17:33
Syndicate
Breaking Syndicate news story on Ares Management »

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  • 31

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  • 06

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HAFC

Hanmi Financial

$21.68

-0.105 (-0.48%)

17:33
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17:33
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Hanmi Financial to delay release of Q2 results »

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  • 23

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PAYS

Paysign

$17.49

-0.48 (-2.67%)

17:32
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07/19
17:32
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17:32
Syndicate
Breaking Syndicate news story on Paysign »

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MEOH

Methanex

$43.19

0.83 (1.96%)

17:28
07/19/19
07/19
17:28
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17:28
Hot Stocks
Methanex reaches final investment decision on methanol plant in Geismar, LA »

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  • 01

    Aug

17:17
07/19/19
07/19
17:17
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Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

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17:14
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Conference/Events
UBS retail/hardlines analyst to hold an analyst/industry conference call »

Retail/Hardlines Analyst…

SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

17:05
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Seanergy Maritime receives noncompliance notice from Nasdaq »

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
07/19/19
07/19
16:41
07/19/19
16:41
Conference/Events
Sonim management to meet with Oppenheimer »

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  • 24

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  • 12

    Sep

KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
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Hot Stocks
Kingstone names Barry Goldstein CEO »

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  • 07

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  • 09

    Aug

16:30
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16:30
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16:30
Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

16:24
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On The Fly
Fly Intel: Wall Street's top stories for Friday »

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BA

Boeing

$377.34

16.17 (4.48%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

AAPL

Apple

$202.62

-3.02 (-1.47%)

WMT

Walmart

$113.91

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DIS

Disney

$139.86

-1.76 (-1.24%)

GCI

Gannett

$9.43

1.53 (19.37%)

CRWD

Crowdstrike

$83.50

10.75 (14.78%)

SKX

Skechers

$39.00

4.25 (12.23%)

PACB

Pacific Biosciences

$5.34

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ILMN

Illumina

$293.10

-5.44 (-1.82%)

CHWY

Chewy

$30.70

-2.09 (-6.37%)

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  • 24

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  • 15

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    Sep

  • 25

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  • 13

    Nov

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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16:17
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Technical Analysis
NASDAQ market internals summary »

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BCBP

BCB Bancorp

$12.71

-0.09 (-0.70%)

16:17
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16:17
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Earnings
BCB Bancorp reports Q2 EPS 30c, consensus 30c »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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Technical Analysis
NYSE market internals summary »

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CNXM

CNX Midstream Partners

$14.30

-0.205 (-1.41%)

16:16
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  • 30

    Jul

TELL

Tellurian

$7.25

0.22 (3.13%)

16:16
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Breaking Syndicate news story on Tellurian »

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16:15
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16:15
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General news
Breaking General news story  »

Boston Federal Reserve…

ROKU

Roku

$106.83

-2.18 (-2.00%)

16:13
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16:13
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16:13
Conference/Events
Roku management to meet with Oppenheimer »

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  • 22

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