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SNAP

Snap

$13.27

0.12 (0.91%)

, KDP

Keurig Dr Pepper

$24.45

0.16 (0.66%)

10:13
07/25/18
07/25
10:13
07/25/18
10:13

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Mixed from Negative at Vertical Group with analyst Phil Leggiere citing expectations for strong 2H 2018 spending. 2. Keurig Dr Pepper (KDP) upgraded to Positive from Neutral at Susquehanna. 3. Lockheed Martin (LMT) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr citing its enhanced visibility to roughly 10% growth through 2021, above average cash flow, dividend yield, and attractive risk/reward. 4. Hawaiian Holdings (HA) upgraded to Buy from Hold at Deutsche Bank with analyst Michael Linenberg saying he views last night's quarter as strong and sees an improving CASM trend. 5. Target (TGT) upgraded to Accumulate from Hold at Gordon Haskett with analyst Chuck Grom saying geolocation data and proprietary card data support his Q2 4.5% comp. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

SNAP

Snap

$13.27

0.12 (0.91%)

KDP

Keurig Dr Pepper

$24.45

0.16 (0.66%)

LMT

Lockheed Martin

$319.85

-2.75 (-0.85%)

HA

Hawaiian Holdings

$40.05

3.65 (10.03%)

TGT

Target

$80.00

0.58 (0.73%)

  • 07

    Aug

SNAP Snap
$13.27

0.12 (0.91%)

07/25/18
VERF
07/25/18
UPGRADE
VERF
Hold
Snap upgraded to Mixed from Negative at Vertical Group
Vertical Group analyst Phil Leggiere upgraded Snap to Mixed from Negative citing expectations for strong 2H 2018 spending.
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
LEHM
07/13/18
NO CHANGE
Target $16
LEHM
Overweight
Snap's Q2 could be 'choppy,' but upbeat 2H seen, says Barclays
Barclays analyst Ross Sandler maintained an Overweight rating and $16 price target on Snap ahead of the company's Q2 earnings, which could include revenue and DAU in-line to slightly below consensus, he tells investors in a research note. Sandler says he thinks Snap may be "getting out of the woods" in 2H with a new CFO, a new Android stack and lapping the CPM reductions, and says he would add to positions on any weakness related to Q2.
07/10/18
NOMU
07/10/18
INITIATION
NOMU
Nomura Instinet initiates coverage on Americas Internet
Nomura Instinet initiated coverage on nine names within the Americas Internet sector. The firm believes, overall, that there is "still some room for growth in digital advertising for the foreseeable future" and believes it will be led primarily by digital video and social, and primarily on mobile devices. The firm added that, as a result of slowing user growth and already high internet penetration, the growth will likely be led by pricing, rather than volume, and the consistent shift away from offline to online media. Nomura Instinet forecast the global digital advertising market "will grow at a 15% five-year CAGR through 2020 as digital ads work toward constituting half of total advertising spend," which the firm expects to occur in 2020. 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 Netflix (NFLX), Snap (SNAP), Trade Desk (TTD), Criteo (CRTO), and Pandora (P) with Neutral ratings. 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."
KDP Keurig Dr Pepper
$24.45

0.16 (0.66%)

07/18/18
GSCO
07/18/18
INITIATION
Target $26
GSCO
Neutral
Keurig Dr Pepper reinstated with a Neutral at Goldman Sachs
Goldman analyst Judy Hong reinstated Keurig Dr Pepper with a Neutral and $26 price target citing valuation.
07/24/18
SUSQ
07/24/18
UPGRADE
SUSQ
Positive
Keurig Dr Pepper upgraded to Positive from Neutral at Susquehanna
07/16/18
BOFA
07/16/18
INITIATION
Target $30
BOFA
Buy
Keurig Dr Pepper resumed with a Buy at BofA/Merrill
BofA/Merrill analyst Bryan Spillane resumed coverage on Keurig Dr Pepper with a Buy and $30 price target saying the company offers a broad spectrum of products in the US beverage market that are expected to generate high-teens earnings growth over the next 3 years.
07/16/18
RBCM
07/16/18
NO CHANGE
Target $75
RBCM
Outperform
Monster Beverage price hike to come November 1st, says RBC Capital
RBC Capital analyst Nik Modi says his industry sources have confirmed that Monster Beverage (MNST) intends to raise its prices by 4.0-5.5% on November 1st depending on the pack size, which would be in line with the management's indication of pricing review made at the June shareholder meeting. The analyst keeps his Outperform rating and $75 price target on Monster, adding that Coca Cola (KO), PepsiCo (PEP) and Keurig Dr Pepper (KDP) will also likely make pricing changes in response over the coming months.
LMT Lockheed Martin
$319.85

-2.75 (-0.85%)

07/25/18
MSCO
07/25/18
NO CHANGE
Target $377
MSCO
Overweight
Lockheed Martin price target raised to $377 from $352 at Morgan Stanley
Morgan Stanley analyst Rajeev Lalwani said Lockheed Martin reported solid and broad based Q2 performance while also management also raised their full year guidance and indicated upward potential for the multi-year outlook, all of which leave him comfortable with his Overweight rating on the shares. Lalwani, who moved his 2018 estimate to the upper-end of the company's guidance and raised his 2019 EPS view, increased his price target on Lockheed Martin shares to $377 from $352.
07/25/18
COWN
07/25/18
UPGRADE
Target $370
COWN
Outperform
Lockheed Martin upgraded to Outperform at Cowen
As reported previously, Cowen analyst Cai von Rumohr upgraded Lockheed Martin to Outperform from Market Perform. The analyst cited its enhanced visibility to roughly 10% growth through 2021, above average cash flow, dividend yield, and attractive risk/reward. The analyst maintained his $370 price target on Lockheed Martin shares.
07/25/18
FBCO
07/25/18
NO CHANGE
Target $340
FBCO
Neutral
Lockheed Martin price target raised to $340 from $335 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Lockheed Martin to $340 from $355 after the company reported what was by all objective measures both "a strong quarter and a strong guide." The analyst reiterates a Neutral rating on the shares.
07/25/18
STFL
07/25/18
NO CHANGE
Target $400
STFL
Buy
Lockheed Martin price target raised to $400 from $370 at Stifel
Stifel analyst Joseph DeNardi raised his price target on Lockheed Martin to $400 after the company reported "strong" Q2 results and raised its 2018 guidance. He blames the stock's underperformance following the report to disappointment that its out-year cash flow guidance remained unchanged and implied bookings of $13.6B were likely below expectations. However, he was encouraged by management's commentary that the strength driving the improved 2018 outlook should continue into 2019, DeNardi tells investors. He keeps a Buy rating on Lockheed shares.
HA Hawaiian Holdings
$40.05

3.65 (10.03%)

05/07/18
IMPC
05/07/18
NO CHANGE
Target $74
IMPC
Outperform
Hawaiian Holdings competitive concerns overblown, says Imperial Capital
Imperial Capital analyst Michael Derchin believes competitive concerns around Hawaiian Holdings (HA) are overblown after Southwest (LUV) indicated its intention to serve Hawaii from Oakland, San Diego, San Jose and Sacramento. Importantly, Southwest did not announce service from Los Angeles or San Francisco, Hawaiian's two biggest cities on the West Coast, Derchin tells investors in a research note. The analyst believes Hawaiian is likely to retain its leading market share inter-island, particularly among local travelers. He expects the company to grow earnings through 2020 given its "strong" brand loyalty, "superior" product and partnership with Japan Air Lines. Derchin lowered his price target for Hawaiian Holdings to $74 from $82 and keeps an Outperform rating on the shares.
05/04/18
BUCK
05/04/18
DOWNGRADE
BUCK
Neutral
Hawaiian Holdings downgraded to Neutral on increased competion at Buckingham
As previously reported, Buckingham downgraded Hawaiian Holdings (HA) to Neutral from Buy and cut its price target to $35 from $55. Analyst Daniel McKenzie said the Southwest Air's (LUV) announcement yesterday to begin service to HI, including inter-island flying, is larger in scope than previously anticipated in his outlook, requiring a the reset to Hawaiian's 2019/2020 earnings and valuation.
05/04/18
BUCK
05/04/18
DOWNGRADE
BUCK
Neutral
Hawaiian Holdings downgraded to Neutral from Buy at Buckingham
07/25/18
DBAB
07/25/18
UPGRADE
Target $45
DBAB
Buy
Hawaiian Holdings upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Michael Linenberg upgraded Hawaiian Holdings to Buy and raised his price target for the shares to $45 from $40. The analyst views last night's quarter as strong and sees an improving CASM trend. He believes the stock's valuation supports a Buy rating.
TGT Target
$80.00

0.58 (0.73%)

06/05/18
MKMP
06/05/18
NO CHANGE
Target $91
MKMP
Buy
Target remains Top Pick for 2018, says MKM Partners
MKM Partners analyst Patrick McKeever backed a Buy rating and $91 price target on Target (TGT) following the company's recent Q1 results and a sell-side meeting at the New York Stock Exchange, telling investors in a research note that Target remains his Top Pick for 2018. Management seems confident in recent guidance, including comp growth into the low to mid single digits in the second quarter, he noted, adding that Target "doesn't want to be Amazon (AMZN) or Walmart (WMT)," but does want more wallet-share, and believes it can get that by offering a curated and thoughtful assortment.
06/11/18
BARD
06/11/18
NO CHANGE
Target $90
BARD
Outperform
Target price target raised to $90 from $85 at Baird
Baird analyst Peter Benedict raised his price target on Target (TGT) to $90 and kept his Outperfom rating, saying 2018 marks the year of "aggressive scaling" of same-day and next-day fulfillment option that rivals "any retailer in the market", including Amazon (AMZN) and Walmart (WMT). The analyst further contends that given the improving profitability trends, "Target remains a stock to own".
06/29/18
MKMP
06/29/18
NO CHANGE
Target $91
MKMP
Buy
Target is in 'early end of benefit cycle', says MKM Partners
MKM Partners analyst Patrick McKeever kept his Buy rating and $91 price target on Target (TGT), saying the company remains his Top Pick for 2018 in the space. The analyst sees a number of remaining growth drivers and positive catalysts, noting that the company is "still on the early end of the benefit cycle". McKeever further cites the 3.7% rise in store traffic in Q1 - the biggest increase in over 10 years - and also sees Q2 comps tracking near his 4% estimate, which is slightly above consensus. The analyst further states that despite the 16% run-up in the stock price this year, it still trades at a valuation discount of 2.7 multiple points relative to WalMart (WMT).
07/25/18
GDHS
07/25/18
UPGRADE
Target $86
GDHS
Accumulate
Target upgraded to Accumulate from Hold at Gordon Haskett
Gordon Haskett analyst Chuck Grom upgraded Target to Accumulate from Hold and raised its price target to $86 from 74 to reflect the recent acceleration in traffic. Grom said geolocation data and proprietary card data support his Q2 4.5% comp.

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    Aug

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Starbucks

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