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BA

Boeing

$348.41

-1.32 (-0.38%)

, TSLA

Tesla

$348.24

-1.44 (-0.41%)

08:22
08/06/18
08/06
08:22
08/06/18
08:22

Boeing, Tesla, Nvidia make Morgan Stanley 'key man risk' list

Morgan Stanley equity strategist Mark Savino noted that about 12% of CEO jobs among S&P 500 companies turned over in 2017, noting that this was the highest level of CEO departures since before the financial crisis. The 59 stocks of S&P 500 companies that had CEOs depart in 2017 underperformed the market by 11% over the next 12 months, or since the departure for instances that were less than 12 months ago, noted Savino. In cooperation with the firm's U.S. analysts, Savino and his team identified the companies in each sector they believe face the greatest level of "key man risk," which includes: Boeing (BA), Tesla (TSLA), ADT Inc. (ADT), Moody's (MCO), TransUnion (TRU), Arista Networks (ANET), Church & Dwight (CHD), Coca-Cola (KO), Monster Beverage (MNST), Coupa Software (COUP), Salesforce (CRM), FireEye (FEYE), MongoDB (MDB), Microsoft (MSFT), New Relic (NEWR), XPO Logistics (XPO), Hilton (HLT), Las Vegas Sands (LVS), Best Buy (BBY), Ulta (ULTA), Aflac (AFL), Athene Holding (ATH), Lincoln National (LNC), Arthur J. Gallagher (AJG), Chubb (CB), Amazon.com (AMZN), Activision Blizzard (ATVI), Facebook (FB), Alphabet (GOOGL), Apple (AAPL), Terex (TEX), Cleveland-Cliffs (CLF), Freeport McMoRan (FCX), FleetCor (FLT), Global Payments (GPN), Square (SQ), Jazz Pharmaceuticals (JAZZ), Cheesecake Factory (CAKE), Broadcom (AVGO), Nvidia (NVDA), Chegg (CHGG), DXC Technology (DXC), Medidata (MDSO), Pluralsight (PS), RealPage (RP), Shopify (SHOP) and T-Mobile (TMUS).

BA

Boeing

$348.41

-1.32 (-0.38%)

TSLA

Tesla

$348.24

-1.44 (-0.41%)

ADT

ADT Inc.

$8.92

0.31 (3.60%)

MCO

Moody's

$172.70

0.91 (0.53%)

TRU

TransUnion

$74.07

0.17 (0.23%)

ANET

Arista Networks

$257.29

-14.31 (-5.27%)

CHD

Church & Dwight

$57.15

0.34 (0.60%)

KO

Coca-Cola

$46.62

0.41 (0.89%)

MNST

Monster Beverage

$59.27

-0.08 (-0.13%)

COUP

Coupa Software

$62.11

-0.79 (-1.26%)

CRM

Salesforce

$141.02

-0.12 (-0.09%)

FEYE

FireEye

$14.95

-0.44 (-2.86%)

MDB

MongoDB

$57.92

-0.3 (-0.52%)

MSFT

Microsoft

$108.04

0.47 (0.44%)

NEWR

New Relic

$100.67

-2.14 (-2.08%)

ZUO

Zuora

$25.19

-0.53 (-2.06%)

XPO

XPO Logistics

$101.42

0.97 (0.97%)

HLT

Hilton

$78.20

-0.245 (-0.31%)

LVS

Las Vegas Sands

$68.64

0.2 (0.29%)

BBY

Best Buy

$76.07

0.14 (0.18%)

ULTA

Ulta Beauty

$234.97

0.1 (0.04%)

AFL

Aflac

$46.59

0.23 (0.50%)

ATH

Athene Holding

$49.22

3.47 (7.58%)

LNC

Lincoln National

$66.63

0.9 (1.37%)

AJG

Arthur J. Gallagher

$71.42

0.25 (0.35%)

CB

Chubb

$138.79

1.13 (0.82%)

AMZN

Amazon.com

$1,823.29

-10.96 (-0.60%)

ATVI

Activision Blizzard

$71.33

-2.8 (-3.78%)

FB

Facebook

$177.76

1.43 (0.81%)

GOOGL

Alphabet Class A

$1,237.56

-3.68 (-0.30%)

GOOG

Alphabet

$1,223.28

-2.72 (-0.22%)

AAPL

Apple

$208.00

0.65 (0.31%)

TEX

Terex

$40.32

-0.74 (-1.80%)

CLF

Cleveland-Cliffs

$10.88

0.3 (2.84%)

FCX

Freeport McMoRan

$15.72

0.285 (1.85%)

FLT

FleetCor

$216.09

-6.14 (-2.76%)

GPN

Global Payments

$118.81

-0.37 (-0.31%)

SQ

Square

$68.36

-4.31 (-5.93%)

JAZZ

Jazz Pharmaceuticals

$176.07

1.27 (0.73%)

CAKE

Cheesecake Factory

$49.69

-0.45 (-0.90%)

AVGO

Broadcom

$217.87

1.63 (0.75%)

NVDA

Nvidia

$251.97

1.35 (0.54%)

CHGG

Chegg

$27.13

-0.84 (-3.00%)

DXC

DXC Technology

$86.40

0.31 (0.36%)

MDSO

Medidata

$76.16

0.13 (0.17%)

PS

Pluralsight

$26.50

-0.31 (-1.16%)

RP

RealPage

$56.65

-1.2 (-2.07%)

SHOP

Shopify

$141.79

-2.19 (-1.52%)

TMUS

T-Mobile

$61.55

-0.65 (-1.05%)

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BA Boeing
$348.41

-1.32 (-0.38%)

07/11/18
07/11/18
UPGRADE
Target $408

Outperform
TransDigm upgraded to Outperform on reduced risks at Cowen
As previously reported, Cowen upgraded TransDigm (TDG) to Outperform from Market Perform with a $408 price target telling investors fundamental threats to TransDigm's aftermarket/M&A playbook are abating. Analyst Gautam Khanna said contract talks between TransDigm and Boeing (BA) are close to being agreed upon with no major threats to TransDigm, and concerns regarding deal economics appear to be misplaced. Further, the Department of Defense procurement rule as of July 1 may actually provide TransDigm with more pricing power versus the old policy, Khanna wrote in a note to investors. The analyst adds, the Department of Defense inquiry is also nearing completion with any fines likely to be minimal, end markets are improving, and the company has $2.3B available for M&A or dividends.
07/11/18
BARD
07/11/18
NO CHANGE
Target $450
BARD
Outperform
Boeing on path to over $400, reflecting 'robust' FCF generation, says Baird
Baird analyst Peter Arment said he expects Boeing to report a "solid" second quarter on July 25, reflecting "favorable" aircraft deliveries. In a research note to investors, Arment says he is "comfortable" with both short- and long-term investors being long into the print and continues to see the stock on a path to over $400, reflecting strong free cash flow generation. He expects management will reiterate its delivery outlook for 2018 and back its 737-MAX delivery target despite recent headlines on suply chain pressures. Arment has an Outperform rating and $450 price target on Boeing shares.
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.
07/23/18
ARGS
07/23/18
DOWNGRADE
ARGS
Hold
General Electric downgraded to Hold at Argus on disappointing Q2
As reported earlier, Argus analyst John Eade downgraded General Electric 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 also lowers 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 further states that while he expects the company to look different in 2-4 years, the outlook for its its core business segments - Power and Renewable Energy - is bleak, saying he prefers other large industrials Such as Illinois Tool Works (ITW), United Technologies (UTX) and Boeing (BA) over General Electric.
TSLA Tesla
$348.24

-1.44 (-0.41%)

08/03/18
ADAM
08/03/18
INITIATION
Target $336
ADAM
Hold
Tesla initiated with a Hold at Canaccord
Canaccord analyst Jed Dorsheimer initiated Tesla with a Hold rating as he sees several risks around the company's financing, cash burn, and general maturity in the industry. Catalysts that could de-risk the shares include shifts in corporate governance, consistent production, and "a CEO who is not working 120 hours per week to hold things together," said Dorsheimer, who set a $336 price target on Tesla shares.
08/02/18
08/02/18
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. OPCO UPGRADES TESLA TO OUTPERFORM: Oppenheimer analyst Colin Rusch upgraded Tesla (TSLA) to Outperform from Perform with a price target of $385 following Wednesday night's Q2 results. Gross margin performance on the Model 3 will carry the stock over the next 12-plus months, Rusch said. With higher volumes and slower spending, Tesla has "reached a critical inflection point in its development," the analyst added. He noted that despite some recent price pressure, Model S and X average selling prices have remained at relatively elevated levels. Rusch said he would not be surprised to see a similar scenario play out for the Model 3. SUNTRUST STARTS MAGNOLIA WITH A BUY: SunTrust analyst Neal Dingmann initiated Magnolia Oil & Gas (MGY) with a Buy rating and a price target of $18. The analyst noted that the company is a "unique E&P" with top-tier assets in the Eagle Ford and low leverage on its balance sheet. Dingmann is also positive on Magnolia's strong free cash flow and experience in transactions management. MORGAN STANLEY SAYS FERRARI SELLOFF A BUYING OPPORTUNITY: Morgan Stanley analyst Adam Jonas upgraded Ferrari (RACE) to Equal Weight from Underweight, stating that the stock's 10% selloff presents an opportunity to increase exposure with the stock now reflecting a more balanced assessment of the risks to the 2022 EUR2B EBITDA target. He raised his price target on Ferrari shares to $120 from $110. BARCLAYS CUTS HANESBRANDS: Barclays analyst Chethan Mallela downgraded Hanesbrands (HBI) to Equal Weight and lowered his price target for the shares to $19 from $22. The analyst sees a lack of visibility into the second half of the year following the company's Q2 results. WENDY'S CUT TO NEUTRAL: Kalinowski Equity Research analyst Mark Kalinowski downgraded Wendy's to Neutral from Buy ahead of the Q2 report on August 7. Kalinowski' checks indicate July same-store sales growth is trending below the 1.5% level and were the worst checks since February 2012. As a result, the analyst lowered his Q3 system-wide North American same-store sales growth forecast to a new consensus low of 1.5 from 2.5%. Kalinowski believes McDonald's (MCD) and Burger King, owned by Restaurant Brands (QSR), could become more "assertive" on promotions and discounting, making it difficult for Wendy's to right the ship.
08/03/18
08/03/18
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. ALLERGAN UPGRADED TO BUY: Mizuho analyst Irina Koffler upgraded Allergan (AGN) to Buy from Neutral and raised her price target for the shares to $210 from $194. The analyst views Allergan's risk/reward more favorably following the company's "strong" beat and raise quarter and the delayed introduction of Restasis generics. Allergan is up 1.2% in late morning trading. NEEDHAM UPS TRIPADVISOR TO HOLD: Needham analyst Laura Martin upgraded TripAdvisor (TRIP) to Hold from Underperform, saying that while the company's pivot to competing as an online travel agent has failed, its focus to grow its non-hotel businesses is a "higher ROI idea". FLOOR & DECOR DOWNGRADED AT JPMORGAN, PIPER: JPMorgan analyst Christopher Horvers downgraded Floor & Decor (FND) to Neutral from Overweight and lowered his price target for the shares to $45 from $59. The "story shift" taking place is likely to keep the shares in "purgatory," Horvers said following the company's Q2 results. Piper Jaffray analyst Peter Keith also downgraded Floor & Decor to Neutral and lowered his price target for the shares to $39 from $58. The analyst admitted his June upgrade of the stock was wrong following Floor & Decor's Q2 miss and guide down. Floor & Decor is down 6.4% in late morning trading. LUNA CUT TO MARKET PERFORM AT NORTHLAND: Northland analyst Tim Savageaux downgraded Luna Innovations (LUNA) to Market Perform from Outperform as he sees the shares reflecting the value of the "well executed" sale of the Opto Solutions unit at current levels. CANACCORD INITIATES TESLA WITH A HOLD: Canaccord analyst Jed Dorsheimer initiated Tesla (TSLA) with a Hold rating as he sees several risks around the company's financing, cash burn, and general maturity in the industry. Catalysts that could de-risk the shares include shifts in corporate governance, consistent production, and "a CEO who is not working 120 hours per week to hold things together," said Dorsheimer, who set a $336 price target on Tesla shares. BWS SAYS ARLO IPO ESTABLISHES VALUATION CASE FOR NETGEAR: BWS Financial analyst Hamed Khorsand said the pricing of Arlo Technologies' (ARLO) IPO establishes a valuation case for Netgear (NTGR). The analyst believes the IPO pricing gives some context to what Netgear's stake is worth and affirms his sum-of-parts reasoning for owning Netgear shares. He kept a Buy rating on the stock with a $64.50 price target.
08/03/18
08/03/18
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. Tesla (TSLA) initiated with a Hold at Canaccord. 2. Universal Forest (UFPI) initiated with a Buy at Seaport Global. 3. Zafgen (ZFGN) initiated with an Outperform at Wedbush. 4. Entera Bio (ENTX) initiated with a Buy at Maxim. 5. Huya initiated with a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
ADT ADT Inc.
$8.92

0.31 (3.60%)

03/16/18
DBAB
03/16/18
NO CHANGE
Target $17
DBAB
Buy
ADT pullback yesterday a buying opportunity, says Deutsche Bank
Deutsche Bank analyst Kevin McVeigh recommends using the pullback yesterday in shares of ADT Inc. as a buying opportunity. The stock is in a bottoming phase and will re-rate higher as the market discounts 2018 guidance suggesting improved attrition and continued execution on internal measures, McVeigh tells investors in a research note following the company's Q4 results. He keeps a Buy rating on the shares with a $17 price target.
03/16/18
MSCO
03/16/18
NO CHANGE
Target $15
MSCO
Overweight
ADT pullback after earnings an overreaction, says Morgan Stanley
Morgan Stanley analyst Toni Kaplan called the post-earnings slide in ADT (ADT) shares unwarranted and an overreaction, noting that company's revenue and adjusted EBITDA guidance was just above her estimates at the midpoint. The company's attrition guidance of 13.15% at the midpoint for 2018 is a 55 basis point improvement over attrition rate of the trailing twelve months to Q4, Kaplan added. While becoming more cautious on the competitive landscape after Amazon's (AMZN) acquisition of Ring, Kaplan keeps an Overweight rating on ADT, citing its attractive 11% free cash flow yield. However, she lowered her price target on the stock to $15 from $18. ADT shares fell $1.28, or 12.5%, to close at $8.93 yesterday.
04/05/18
MSCO
04/05/18
NO CHANGE
Target $15
MSCO
Overweight
ADT Inc. 'noise' around DIY fears overdone, says Morgan Stanley
Morgan Stanley analyst Toni Kaplan noted that she recently hosted meetings with ADT Inc. management and came away more positive that ADT's service offering is differentiated from the product offerings of newer entrants and that growth in DIY is not necessarily cannibalizing ADT's core business. The analyst, who still sees see steady operating growth, accelerating cash flow, and a "very compelling valuation," keeps an Overweight rating and $15 price target on ADT shares.
02/28/18
MSCO
02/28/18
NO CHANGE
Target $18
MSCO
Overweight
Amazon deal for Ring doesn't disrupt core thesis on ADT, says Morgan Stanley
Morgan Stanley analyst Toni Kaplan said Amazon's (AMZN) reported agreement to buy connected-doorbell and video camera startup Ring doe not disrupt her core thesis on ADT Inc. (ADT), which is centered on the latter's brand awareness and service differentiating it from intense competition from technology and DIY competitors. While the Ring deal increases Amazon's penetration into home automation, many of the newer products and services in this space go after a different subset of customers than ADT's core client base, according to Kaplan. However, she does acknowledge that a greater risk could result if Amazon adds professional monitoring or pulls its existing Alexa integration with ADT. Kaplan keeps her Overweight rating and $18 price target on ADT Inc. shares, which closed yesterday down 4.6% at $11.60 and are pointing to about a 2% further decline in pre-market trading.
MCO Moody's
$172.70

0.91 (0.53%)

04/25/18
NOMU
04/25/18
NO CHANGE
Target $190
NOMU
Buy
Moody's price target raised to $190 from $180 at Nomura Instinet
Nomura Instinet analyst Dan Dolev raised his price target for Moody's to $190 saying his revenue empirical study of global debt issuance versus the company's ratings organic growth points to potential 3%-4% upside to consensus estimates. The analyst reiterates a Buy rating on the shares.
05/30/18
BMOC
05/30/18
NO CHANGE
Target $179
BMOC
Market Perform
Moody's price target raised to $179 from $169 at BMO Capital
BMO Capital analyst Jeffrey Silber raised his price target on Moody's to $179 after his meetings with the management, saying he has a better understanding of its strategy longer-term as well as the current trends. Silber views Moody's as one of the "best-run" information services, with added diversification and growth opportunities coming from the recent Bureau van Dijk acquisition. The analyst also states that the management "did a good job" outlining reasons for continued growth at Moody's Investors Services despite the slowing credit issuance environment but keeps a Market Perform rating on the stock.
02/14/18
ARGS
02/14/18
NO CHANGE
Target $190
ARGS
Buy
Moody's price target raised to $190 from $165 at Argus
Argus analyst John Eade raised his price target on Moody's to $190 and kept his Buy rating after a Q4 earnings beat, with results benefiting from the recent acquisition of Bureau van Dijk. The analyst is positive on the company's position to benefit from the "secular trends of global GDP growth and debt market disintermediation", along with opportunities to develop new products, raise margins, and grow through targeted acquisitions. Eade believes the valuation on Moody's is attractive relative to peers, with expected FY18 PE of 20.6-times vs. group range of 18-29-times.
07/30/18
WELS
07/30/18
NO CHANGE
Target $172
WELS
Market Perform
Moody's price target raised to $172 from $160 at Wells Fargo
Wells Fargo analyst William Warmington raised his price target for Moody's to $172 from $160 after the company reported Q2 revenue and EPS ahead of expectations, with revenue upside driven primarily by strong Structured Finance and Corporate Finance issuance and EPS upside helped by FX. The analyst reiterates a Market Perform rating on the shares.
TRU TransUnion
$74.07

0.17 (0.23%)

07/25/18
ATLE
07/25/18
DOWNGRADE
ATLE
Neutral
TransUnion downgraded to Neutral from Overweight at Atlantic Equities
07/25/18
ATLE
07/25/18
DOWNGRADE
Target $82
ATLE
Neutral
TransUnion downgraded to Neutral on valuation at Atlantic Equities
As previously reported, Atlantic Equities analyst Kunaal Malde downgraded TransUnion (TRU) to Neutral from Overweight, stating that he sees clear upside potential to Street estimates following another strong quarterly report, but that he also believes the upside is factored into the stock at its current valuation. With less upside seen to buyside estimates, Malde said he prefers other stocks that can deliver similar earnings growth and arguably more sustainably, such as Visa (V). However, he raised his price target on TransUnion shares to $82 from $77.
07/25/18
WELS
07/25/18
NO CHANGE
Target $75
WELS
Market Perform
TransUnion price target raised to $75 from $65 at Wells Fargo
Wells Fargo analyst William Warmington raised his price target for TransUnion to $75 from $65 as Q2 results were ahead of expectations driven by about $25M in acquisition revenue and strong Q2 CC organic revenue growth from outperformance in USIS and Consumer Interactive and strong CreditVision. The analyst reiterates a Market Perform rating on the shares.
07/25/18
07/25/18
DOWNGRADE
Target $82

Neutral
TransUnion downgraded to Neutral on valuation at Atlantic Equities
As previously reported, Atlantic Equities downgraded TransUnion to Neutral from Overweight and increased its price target to $82 from $77. Analyst Kunaal Malde believes faster growth and upside potential to Street estimates is reflected in valuation.
ANET Arista Networks
$257.29

-14.31 (-5.27%)

08/03/18
SBSH
08/03/18
NO CHANGE
Target $300
SBSH
Buy
Arista Networks call confusion brings buying opportunity, says Citi
Citi analyst Jim Suva believes confusion on Arista Networks' conference call presents a buying opportunity. The company reaffirmed its outlook and did not imply a reduction that was confused by the announced Mojo Networks acquisition, Suva tells investors in a research note. He sees any stock pullback as an "aggressive opportunity" for investors and reiterates a Buy rating on Arista Networks with a $300 price target.
08/03/18
LOOP
08/03/18
NO CHANGE
Target $260
LOOP
Hold
Arista Networks price target raised to $260 from $250 at Loop Capital
Loop Capital analyst James Kisner raised his price target on Arista Networks to $260 after its Q2 earnings beat and in-line Q3 guidance, saying the company has a "high level of differentiation and growth opportunities". The analyst also cites the 300bps beat in operating margin on the strength of its Cloud Titans vertical, but keeps his Hold rating due to "expensive" valuation and "volatile" end market demand.
07/19/18
07/19/18
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. NEEDHAM CUTS TESLA TO UNDERPERFORM: Needham analyst Rajvindra Gill downgraded Tesla (TSLA) to Underperform from Hold, stating the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. The analyst cited expectations of slower Model S/X sales amid increased competition and possible cannibalization from the Model 3, the expiration of credits, slower gross margins improvement with "persistently high" production costs, lower energy segment revenue after recent restructuring, and Tesla's "unsustainable capital structure." Tesla is down 1.9% in midday trading. CREDIT SUISSE UPGRADES SQUARE: Credit Suisse analyst Paul Condra upgraded Square (SQ) to Outperform from Neutral, saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants. He also said positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases. The analyst also raised his price target on the shares to $81 from $44. MORGAN STANLEY UPS SQUARE TARGET: Morgan Stanley analyst James Faucette sees good potential for upward estimate revisions for Square in the near-term and raised his price target on the stock to $75 from $43. However, Faucette kept an Equal Weight rating on Square, calling its valuation "demanding" and citing his continued view that new services are misvalued. Square is higher by 3.5% at midday. MORGAN STANLEY DOWNGRADES LENDINGCLUB, ON DECK: Morgan Stanley's Faucette downgraded LendingClub (LC) to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. Faucette lowered his price target on LendingClub shares to $5 from $6. Faucette downgraded On Deck Capital (ONDK) to Underweight from Equal Weight, stating that he sees the company needing a long time to meaningfully scale the "OnDeck-as-a-Service," which he believes will limit the stock's potential for valuation expansion above small-to-mid cap banks. Also, Faucette sees limited upside potential to origination growth estimates given the company's preference for delivering profitability versus growth, he tells investors. PIPER POSITIVE ON CISCO AND ARISTA, CALLS AMAZON FEARS OVERBLOWN: Amazon (AMZN) is not entering the network switching market as speculated on July 13, Piper Jaffray analyst James Fish told investors in a research note. The confirmation by Amazon removes the potential shadow of Amazon on the space. The analyst continued to recommend Cisco (CSCO) and Arista (ANET) as his top networking picks.
08/06/18
ARGS
08/06/18
NO CHANGE
Target $320
ARGS
Buy
Arista Networks price target raised to $320 from $280 at Argus
Argus analyst Jim Kelleher raised his price target on Arista Networks to $320 and kept his Buy rating despite the 4% decline in the stock price late last week following its Q2 results, saying any weakness related to "cautious" guidance is an opportunity to add to positions. The analyst notes that the company has a history of guiding conservatively and then beating "soundly", as it is "permanently" positioned to disrupt the network space with its cloud solutions. Kelleher further cites Arista's "global momentum" in sales to market leaders across multiple verticals, "including cloud titans, cloud specialty service providers, and tier one telcos."
CHD Church & Dwight
$57.15

0.34 (0.60%)

07/19/18
UBSW
07/19/18
INITIATION
Target $57
UBSW
Neutral
Church & Dwight initiated with a Neutral at UBS
UBS analyst Steven Strycula started Church & Dwight with a Neutral rating and $57 price target. The analyst believes the long position in the stock, while justified, is "crowded."
08/03/18
BMOC
08/03/18
NO CHANGE
Target $55
BMOC
Market Perform
Church & Dwight price target raised to $55 from $47 at BMO Capital
BMO Capital analyst Shannon Coyne raised her price target on Church & Downs to $55 from $47 after its better than expected earnings and revenues in Q2. The analyst says the results were impressive given the company's pullback in promotions, adding that the pricing adjustments forecast by the management will take some time to implement. Coyne keeps her Market Perform rating on Church & Downs, adding that the reduced promotional developments have been reflected in the valuation.
08/03/18
RBCM
08/03/18
NO CHANGE
Target $60
RBCM
Sector Perform
Church & Dwight price target raised to $60 from $51 at RBC Capital
RBC Capital analyst Nik Modi raised his price target on Church & Dwight to $60 and kept his Sector Perform rating after its Q2 earnings beat, saying the company's 4.4% organic revenue growth was driven by the 6.5% rise in volume. Modi also sees the company gaining market share with its "strong" brands, but believes that the stock is "nearing" fair value.
07/19/18
OPCO
07/19/18
NO CHANGE
Target $60
OPCO
Outperform
Church & Dwight price target raised to $60 from $54 at Oppenheimer
Oppenheimer analyst Rupesh Parikh raised his price target for Church & Dwight to $60 from $54 given his expectations for 3%-ish core sales growth, high single-digit EPS growth, optionality related to M&A, and stabilizing longer-term interest rates. The analyst reiterates an Outperform rating on the shares.
KO Coca-Cola
$46.62

0.41 (0.89%)

07/26/18
RHCO
07/26/18
NO CHANGE
Target $55
RHCO
Buy
Coca-Cola price target raised to $55 from $50 at SunTrust
SunTrust analyst William Chappell raised his price target on Coca-Cola to $55 and kept his Buy rating, saying the company addressed his concerns about the negative price-mix in North America as pricing actually rose in low-single-digits in Q2. The analyst notes that his new price target implies a forward price earnings multiple of 24-times - a premium relative to peers based on the company's "strong organic growth performance".
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.
05/17/18
SBSH
05/17/18
NO CHANGE
SBSH
Buy
Coca-Cola pullback brings 'compelling' valuation, says Citi
The 9% year-to-date decline in shares of Coca-Cola creates a "compelling" valuation, Citi analyst Wendy Nicholson tells investors in a research note after traveling with the company's investor relations team. The analyst attributes the weakness partly to the overall selloff of consumer staples stocks, but also partly to investor concerns about a handful of factor, including Coca-Cola's ability to achieve its financial targets both in 2018 and over the longer-term. Nicholson says her confidence in the company is up and that the share slump is not justified. She reiterates a Buy rating on Coca-Cola.
05/17/18
05/17/18
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. Coca-Cola (KO) upgraded to Overweight from Equal Weight at Barclays with analyst Lauren Lieberman saying the company's transformation should drive "sustainably better growth," which should yield a higher valuation premium. 2. Valero (VLO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Benny Wong saying recent underinvestment in refining, slippages in capacity additions and overdone concerns on long-term demand have set the stage for refining to enter a "golden age" through 2020. 3. ManTech (MANT) upgraded to Outperform from Market Perform at Wells Fargo with analyst Edward Caso citing valuation. 4. Celanese (CE) upgraded to Buy from Neutral at UBS with analyst John Roberts saying he believes the shares are undervalued and investors do not appreciate the stability and growth in the acetyls chain and the long-term potential in Engineered Materials. 5. Canadian National (CNI) upgraded to Buy from Underperform at BofA/Merrill with analyst Ken Hoexter saying service and volume growth rebounded faster than expected and will only be aided by an improving economy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MNST Monster Beverage
$59.27

-0.08 (-0.13%)

07/11/18
STFL
07/11/18
NO CHANGE
Target $65
STFL
Buy
Monster Beverage gross margins to expand up to 200bps in 2019, says Stifel
Stifel analyst Mark Astrachan kept his Buy rating and nudged his price target on Monster Beverage to $65 from $63. The analyst says his "deep dive" analysis into the company's financials and prospects suggests that while near term cost pressures remain, gross margins could expand by 150-200bps in FY19, driven by "anticipated mid-single-digit U.S. price increase" likely coming in Q4 of this year, as well as the moderating input cost pressure offset by negative international and U.S. sales mix.
06/11/18
MSCO
06/11/18
NO CHANGE
Target $63
MSCO
Overweight
Morgan Stanley ups Monster Beverage target to $63 on U.S. price increase
Morgan Stanley analyst Dara Mohsenian updated his model for Monster Beverage and increased his price target on the stock to $63 from $61 after the company confirmed at its analyst meeting that a price increase will occur in the U.S. He assumes a 5% price increase, effective October 1, on core energy drink products that make up 73% of Monster's U.S. mix. The analyst, who also lists topline upside, perceived strategic potential, and an attractive valuation as reasons to own Monster, keeps an Overweight rating on the shares.
07/19/18
BMOC
07/19/18
NO CHANGE
Target $70
BMOC
Outperform
Monster Beverage price target raised to $70 at BMO Capital on likely price hike
BMO Capital analyst Amit Sharma kept his Outperform rating on Monster Beverage while nudging his price target to $70 from $68. The analyst says the company can overcome the potential margin headwinds from rising inflation across its commodities basket with a 3-5% price increase in the U.S. to be announced later this year, while its momentum after recovery from disappointing Q1 can continue or "even strengthen".
COUP Coupa Software
$62.11

-0.79 (-1.26%)

06/18/18
BTIG
06/18/18
DOWNGRADE
BTIG
Neutral
Coupa Software downgraded to Neutral from Buy at BTIG
BTIG analyst Joel Fishbein downgraded Coupa Software to Neutral from Buy, saying the company's rise in valuation to 13.5-times enterprise value to expected FY19 revenues has separated it from its peers. The analyst remains positive on the company's long term opportunity, particularly in Asia, and expects the investment story to become more centered around its international expansion potential. However, at its current levels, Fishbein sees the risk-reward on Coupa Software as balanced.
07/18/18
RBCM
07/18/18
NO CHANGE
Target $71
RBCM
Outperform
Coupa Software price target raised to $71 from $61 at RBC Capital
RBC Capital analyst Ross MacMillan raised his price target on Coupa Software to $71 and kept his Outperform rating following meetings with its CFO, saying the company offers a "long-term growth opportunity, unit economics and strength of execution". Among the "vectors of growth", MacMillan points to the international segment given the company's under-representation in APAC and LATAM, the federal government work, and the mid-market, where the the company is trying new initiatives such as website enhancements to improve lead qualification.
06/05/18
NEED
06/05/18
NO CHANGE
Target $63
NEED
Buy
Coupa Software price target raised to $63 from $55 at Needham
Needham analyst Peter Levine raised his price target for Coupa Software to $63 saying the company night reported a "solid" Q1 beat with 40% subscription growth. The analyst keeps a Buy rating on the shares.
06/05/18
RHCO
06/05/18
NO CHANGE
Target $65
RHCO
Buy
Coupa Software price target raised to $65 from $56 at SunTrust
SunTrust analyst Terry Tillman raised his price target for Coupa Software to $65 citing the company's "solid beat" in Q1 and increased FY19 guidance. The analyst, who maintained a Buy rating, is increasingly confident on the company's ability to achieve 30% top line growth on a sustained basis while improving operating losses.
CRM Salesforce
$141.02

-0.12 (-0.09%)

07/24/18
STFL
07/24/18
NO CHANGE
Target $175
STFL
Buy
Salesforce price target raised to $175 from $160 at Stifel
After spending some time visiting European investors with the head of Investor Relations for Salesforce, Stifel analyst Tom Roderick said he thinks customer interest in standardizing the corporate front office around salesforce.com is "only just accelerating now." The analyst, who thinks investors "absolutely have to own" Salesforce and said his travels with management only reinforced that view, raised his price target on the stock to $175 and keeps a Buy rating on the name, which remains on Stifel's Select List.
07/11/18
OPCO
07/11/18
NO CHANGE
Target $160
OPCO
Outperform
Salesforce price target raised to $160 from $152 at Oppenheimer
Oppenheimer analyst Brian Schwartz raised his price target for Salesforce to $160 from $152 as he sees good upside potential to the financial targets since the installed base has a huge and disparate IT footprint in customer engagement but a desire for a modern, next-generation customer engagement system from a leading platform supplier like Salesforce. The analyst reiterates an Outperform rating on the shares.
07/12/18
UBSW
07/12/18
NO CHANGE
Target $289
UBSW
Buy
Adobe shares can hit $320 over next 18 months, says UBS
UBS analyst Jennifer Swanson Lowe sees potential for Adobe (ADBE) to achieve $10 of earnings per share in fiscal 2020, above the current consensus of $9.33, and for the stock to reach $320 over the next 18 months, or 30% upside from current levels. The stock has lagged the broader peer group since the company's Q2 results as investors worry about reduced potential for further beats as the Cloud shift matures, Lowe tells investors in a research note. She keeps a Buy rating on Adobe with a $289 price target. Microsoft (MSFT) and Salesforce (CRM) remain the analyst's top picks due to the combination of "secular growth and valuation support," but she likes Adobe as well for similar reasons.
07/20/18
OPCO
07/20/18
NO CHANGE
OPCO
Perform
ServiceNow shares look fully valued after 'strong' run-up YTD, says Oppenheimer
Oppenheimer analyst Brian Schwartz maintained a Perform rating on ServiceNow (NOW) ahead of the company's Q2 results on July 25, which he views as "solid." In a research note to investors, Schwartz says he thinks the shares look fully valued after a "strong" run-up year-to-date, adding that the tone from industry checks and June's visit to headquarters sounded "positive," but that the medium-term growth and margin framework remains uncertain. The analyst continues to recommend Salesforce (CRM) as the better play in the second half of the year.
FEYE FireEye
$14.95

-0.44 (-2.86%)

07/09/18
07/09/18
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. FireEye (FEYE) upgraded to Overweight from Neutral at Piper Jaffray with analyst Andrew Nowinski saying a recent round of channel checks showed a "significant improvement" in demand trends for the company. 2. BP (BP) upgraded to Top Pick from Outperform at RBC Capital with analyst Biraj Borkhataria saying the company's visibility for volume growth will lead to higher cash flows from operations. 3. Capital One (COF) upgraded to Outperform from Perform at Oppenheimer with analyst Ben Chittenden saying the delinquency formation is improving and Q2 expectations seem too low to him. 4. Dunkin' Brands (DNKN) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump saying his conversations with U.S. franchisees lead him to believe the company's Q2 same-store sales rose 0.5-1.0%, which would be in-line with the consensus view and slightly better than his prior forecast for them to have been flat with last year. 5. Baidu (BIDU) upgraded to Outperform from Neutral at Credit Suisse and to Overweight from Sector Weight at KeyBanc. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/09/18
PIPR
07/09/18
UPGRADE
Target $20
PIPR
Overweight
Piper Jaffray upgrades FireEye to Overweight on improving demand trends
Piper Jaffray analyst Andrew Nowinski upgraded FireEye (FEYE) to Overweight from Neutral and raised his price target for the shares to $20 from $17. The cybersecurity company closed Friday up 28c to $15.98. A recent round of channel checks showed a "significant improvement" in demand trends for the company, Nowinski tells investors in a research note. The analyst's contacts noted that FireEye's new pricing bundles are having a positive impact on overall demand trends, which he believes is sustainable and will drive positive operating income and free cash flow starting in Q3. Nowinski believes FireEye's current valuation represents an attractive entry point.
07/09/18
PIPR
07/09/18
UPGRADE
Target $20
PIPR
Overweight
FireEye upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski upgraded FireEye to Overweight and raised his price target for the shares to $20 from $17. The analyst sees improving demand trends for FireEye following his firm's Q2 security reseller survey.
05/03/18
JPMS
05/03/18
NO CHANGE
Target $20
JPMS
Neutral
FireEye price target raised to $20 from $16 at JPMorgan
JPMorgan analyst Sterling Auty raised his price target for FireEye to $20 following the company's Q1 results and keeps a Neutral rating on the name. The results were actually good, but you would not conclude that looking at the after-hours reaction in the stock, Auty tells investors in a post-earnings research note. He believes growth in the cloud and new solutions are the keys for the stock.
MDB MongoDB
$57.92

-0.3 (-0.52%)

06/29/18
ADAM
06/29/18
NO CHANGE
Target $54
ADAM
Buy
MongoDB weakness a buying opportunity, says Canaccord
Canaccord analyst Richard Davis said MongoDB remains expensive despite its recent pullback, but he recommends building out a position as it comes in. The analyst said it is among the fast-growing emerging software companies and has an open-ended total addressable market. Davis reiterated his Buy rating and $54 price target on MongoDB shares.
06/28/18
SBSH
06/28/18
INITIATION
Target $56
SBSH
Neutral
MongoDB initiated with a Neutral at Citi
Citi analyst Tyler Radke started MongoDB with a Neutral rating and $56 price target.
06/07/18
STFL
06/07/18
NO CHANGE
Target $53
STFL
Buy
MongoDB price target raised to $53 after earnings at Stifel
Stifel analyst Brad Reback said all of MongoDB's key financial metrics came in ahead of consensus estimates in Q1, pointing to "robust" Atlas growth, "steady" subscription gross margin and billings that topped expectations as highlights. Citing his belief MongoDB can drive recurring revenue growth of at least 30% and improving profitability in coming years, Reback reiterated a Buy rating on the stock and raised his price target to $53 from $47.
06/07/18
KEYB
06/07/18
NO CHANGE
Target $62
KEYB
Overweight
MongoDB price target raised to $62 from $50 at KeyBanc
KeyBanc analyst Brent Bracelin raised his price target for MongoDB to $62 from $50, citing "strong" Q1 momentum with upside driven by 49% year over year growth and accelerating metrics for customers spending over $100K. The analyst believes the multiyear opportunity to sustain high growth in a large TAM warrants a premium. He reiterates an Overweight rating on the shares.
MSFT Microsoft
$108.04

0.47 (0.44%)

07/20/18
GSCO
07/20/18
NO CHANGE
Target $125
GSCO
Buy
Microsoft price target raised to $125 from $114 at Goldman Sachs
Goldman Sachs analyst Heather Bellini reiterated her Buy rating on Microsoft and increased its price target to $125 from $114 citing another "strong quarter and raise." Bellini said results were strong across the board and the cmpany's leading position as a hybrid cloud provider continued to build momentum as its Server and Cloud Services revenue growth accelerated to its highest pace on record.
07/27/18
OPCO
07/27/18
NO CHANGE
Target $120
OPCO
Outperform
Microsoft price target raised to $120 from $115 at Oppenheimer
Oppenheimer analyst Tim Horan raised his price target on Microsoft (MSFT) to $120 and maintained an Outperform rating, telling investors in a research note that he remains "bullish." With enterprises in the steepest part of the S-curve adoption cycle of cloud, over the next few quarters, he says he expects strong results from Azure which benefits from AWS (AMZN)/Google (GOOG, GOOGL) channel conflicts and also sees upside surprises in Gaming, Search, Dynamics, Hardware and strong operating leverage.
08/03/18
BARD
08/03/18
NO CHANGE
Target $2100
BARD
Outperform
Amazon summit highlights long cloud growth runway, says Baird
After having attended the AWS Summit in Chicago this week, Baird analyst Colin Sebastian said his talks with several enterprise IT decision makers highlight Amazon's "clear advantage" in product breadth and go-to-market capabilities despite the fact that cloud services competition is "undoubtedly intensifying" from Microsoft's (MSFT) Azure and Alphabet's (GOOGL) Google Cloud Platform. Most large-scale enterprises are still in the early days of cloud migration, which bodes well for the long-term growth outlook for AWS along with Azure and Google Cloud, Sebastian concluded. He keeps an Outperform rating and $2,100 price target on Amazon shares.
07/23/18
ARGS
07/23/18
NO CHANGE
Target $128
ARGS
Buy
Microsoft price target raised to $128 from $116 at Argus
Argus analyst Joseph Bonner raised his price target on Microsoft to $128 and kept his Buy rating after the company's "strong quarter" in Q4 and positive comments about FY19. The analyst believes the company is well positioned to grow its commercial revenue amid the accelerating digital transformation trend thanks to its "massive" user base and long-term relationships. Despite the run-up in the stock price, the analyst contends that Microsoft shares could move even higher as the company's commercial and public cloud business drive growth.
NEWR New Relic
$100.67

-2.14 (-2.08%)

06/25/18
06/25/18
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. Twilio (TWLO) initiated with an Overweight at Piper Jaffray. 2. Albemarle (ALB) initiated with a Buy at BofA/Merrill. 3. PVH Corp. (PVH) initiated with a Sell at Goldman Sachs. 4. New Relic (NEWR) initiated with a Buy at Deutsche Bank. 5. Alibaba (BABA) initiated with a Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
07/17/18
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. Ambarella (AMBA) initiated with a Neutral at BofA/Merrill. 2. New Relic (NEWR) initiated with a Hold at Argus. 3. Adecogro (AGRO) initiated with a Buy at Santander. 4. ElectroCore (ECOR) initiated with a Buy at BTIG and an Outperform at JMP Securities. 5. Apergy (APY) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/18
DADA
07/11/18
INITIATION
Target $105
DADA
Neutral
New Relic initiated with a Neutral at DA Davidson
DA Davidson analyst Rishi Jaluria initiated New Relic with a Neutral rating and a price target of $105. The analyst says he is positive on the company's market opportunity as a leading provider of SaaS solutions in application performance monitoring as well as its strong execution and ongoing operational leverage. However, Jaluria also believes that the stock is "fully valued" at 11-times enterprise value to expected FY19 revenue, having risen about 280% since the start of 2017.
07/17/18
ARGS
07/17/18
INITIATION
ARGS
Hold
New Relic initiated with a Hold at Argus
Argus analyst Joseph Bonner initiated New Relic at Hold, saying the company stands to benefit from the growing market of data analytics and the transition of enterprise IT to more application and cloud-centric formats, but the management needs to demonstrate its ability to ramp up sales and capture market share. The analyst also notes the company's high valuation, with trailing enterprise value to revenue multiple of 16.5-times being "well above the high end of the four-year historical average range of 8-11-times". Bonner further points to New Relic's history of operating losses, though he also notes that the company has just posted its first operating profit in the December 2017 quarter.
ZUO Zuora
$25.19

-0.53 (-2.06%)

06/01/18
JEFF
06/01/18
NO CHANGE
Target $28
JEFF
Buy
Zuora price target raised to $28 from $24 at Jefferies
Jefferies analyst John DiFucci raised his price target for Zuora to $28 saying the company reported "strong" Q1 results and issued guidance well above the Street. He continues to believe that Zuora is a "logical play on the transition to the Subscription Economy," which he thinks will drive "sustainable hyper growth for years to come." The analyst keeps a Buy rating on the shares.
05/07/18
05/07/18
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. Amazon.com (AMZN) initiated with an Outperform at Telsey Advisory. 2. Zuora (ZUO) initiated with a Buy at Needham and Jefferies, an Equal Weight at Morgan Stanley, and a Neutral at Goldman Sachs. 3. Bilibili (BILI) initiated with an Overweight at JPMorgan. 4. Cloudera (CLDR) initiated with a Buy at Craig-Hallum. 5. Scynexis (SCYX) assumed with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/07/18
NEED
05/07/18
INITIATION
Target $24
NEED
Buy
Zuora initiated with a Buy at Needham
Needham analyst Scott Berg initiated Zuora with a Buy rating and a price target of $24, saying the company has a "early market leader position" Subscription Management product category which is expected to grow at a rate of at least 30% per year. Berg notes that as the "subscription economy" business model evolves, it needs a "modern application approach", and Zuora's position at the forefront of this industry give it an opportunity to capture a " disproportionate share" of its total addressable market.
05/07/18
05/07/18
INITIATION
Target $19

Equal Weight
Zuora started with an Equal Weight rating, $19 price target at Morgan Stanley
As previously reported, Morgan Stanley analyst Stan Zlotsky initiated Zuora with an Equal Weight rating, as he believes its long runway of growth and profitability already appears priced in at current levels. He thinks Zuora is likely to sustain its competitive differentiation versus traditional ERP vendors in the near term, which should allow it to sustain a 20% revenue growth CAGR, Zlotsky tells investors. He set a $19 price target on Zuora shares, which closed at $19.55 on Friday, May 4.
XPO XPO Logistics
$101.42

0.97 (0.97%)

08/02/18
DBAB
08/02/18
NO CHANGE
Target $142
DBAB
Buy
XPO Logistics price target raised to $142 from $133 at Deutsche Bank
Deutsche Bank analyst Amit Mehrotra raised his price target for XPO Logistics to $142 and keeps a Buy rating on the shares following the company's Q2 results.
08/02/18
DBAB
08/02/18
NO CHANGE
DBAB
Buy
XPO should rally on organic growth trends, says Deutsche Bank
Deutsche Bank analyst Amit Mehrotra views XPO Logistics' Q2 results as "very solid, albeit uneventful." The analyst expects expect the stock to be up today on "encouraging organic growth trends" and thinks a "more pronounced move" will likely come following the earnings call. Mehrotra hopes to get an update on the timeline of an acquisition and the revenue opportunity from XPO Direct and Last Mile Expansion in Europe. He keeps a Buy rating on XPO Logistics.
08/03/18
DBAB
08/03/18
NO CHANGE
Target $142
DBAB
Buy
Deutsche Bank boosts price target on top pick XPO Logistics to $142
Deutsche Bank analyst Amit Mehrotra last night raised his price target for XPO Logistics to $142 from $133 and kept a Buy rating on the shares. The analyst says he came away from XPO's earnings conference call "incrementally more positive on several fronts." Management pointed to sustainability of recent acceleration in organic growth, and guided EBITDA to increase 15%-18% for the "foreseeable" future, Mehrotra tells investors in a research note. Further, management provided more details around revenue opportunity from XPO Direct, the analyst adds. He notes this represents a $1B organic revenue over the next four years with higher than average contribution margins. Mehrotra calls XPO his top overall pick.
08/03/18
KEYB
08/03/18
NO CHANGE
Target $115
KEYB
Overweight
XPO Logistics price target cut to $115 from $125 at KeyBanc
KeyBanc analyst Todd Fowler reiterated an Overweight rating on XPO Logistics but lowered his price target to $115 from $125, reflecting a revised EBITDA estimate for 2019. In a research note to investors, Fowler says Q2 were largely as expected, but he is "incrementally encouraged" by forward commentary around organic opportunities in existing businesses and new offerings, as well as EBITDA growth. He continues to see a path to about $3B of EBITDA by 2022. He also raised his 2019 EBITDA estimate to $1.8B from $1.775B.
HLT Hilton
$78.20

-0.245 (-0.31%)

07/19/18
07/19/18
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. Square (SQ) upgraded to Outperform from Neutral at Credit Suisse WITH analyst Paul Condra saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants, positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases, and growth investing should support strong revenue trends driving upside to revenue forecasts in the out-years. 2. Discovery (DISCA) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Drew Borst saying Discovery's acquisition of Scripps creates "meaningful" cost and revenue synergy opportunities. 3. Grainger (GWW) upgraded to Neutral from Sell at UBS with analyst Steven Winoker saying the company's strategic initiatives, including its pricing reset and e-commerce platform development, reposition it to gain market share through 2019. 4. Hilton (HLT) upgraded to Buy from Hold at Berenberg. 5. United Continental (UAL) upgraded to Outperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
DBAB
07/17/18
NO CHANGE
DBAB
Buy
Hilton Q2 results likely to serve as catalyst, says Deutsche Bank
With the stock range-bound this year and down 5% in recent weakness, Deutsche Bank analyst Carlo Santarelli believes Hilton Worldwide's Q2 results are likely to serve as a "catalyst for investor re-engagement." The analyst sees favorable fundamentals and an attractive valuation for Hilton and keeps a Buy rating on the shares.
07/19/18
BREN
07/19/18
UPGRADE
BREN
Buy
Hilton upgraded to Buy from Hold at Berenberg
Berenberg analyst El Kassir upgraded Hilton to Buy from Hold and raised its price target to $84 from $79. Kassir comments Hilton is execute strongly on room growth and expects it to accelerate moving forward. Hilton is the standout in terms of execution on not only pipeline growth but net room growth over the past decade, the analyst wrote in a note to investors. Kassir expects this to continue and for Hilton to drive its net room additions higher moving forward, which is underpinned by its pipeline. This is the main reason Kassir view on Hilton has become more positive, with significant upside if Hilton is able to maintain current growth characteristics.
06/15/18
JPMS
06/15/18
UPGRADE
JPMS
Neutral
InterContinental upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Borja Olcese upgraded InterContinental Hotels (IHG) to Neutral with an increased price target of GBP 43.50. The analyst sees a lack of negative growth drives and catalysts "for now." The analyst prefers shares of Accor as well as Marriott (MAR) and Hilton (HLT).
LVS Las Vegas Sands
$68.64

0.2 (0.29%)

07/05/18
MSCO
07/05/18
NO CHANGE
MSCO
Pullback in Macau gaming names a buying opportunity, says Morgan Stanley
Morgan Stanley analyst Thomas Allen believes the recent selloff in Macau gaming stocks is overdone, as he contends the fact that Macau's gaming revenue growth has missed on the headline for two months in a row is attributable to rising expectations, foreign exchange impacts and likely an improper factoring in of seasonality and the World Cup. Q2 gross gaming revenue growth of 17.2% still beat his forecast of 16%, noted Allen, who said Las Vegas Sands (LVS) continues to be his favored gaming name. He also has an Overweight rating on MGM Resorts (MGM). Allen keeps an Equal Weight rating on Wynn Resorts (WYNN), but sees the stock becoming increasingly attractive if Macau is still "very healthy," as he suspects.
07/02/18
BOFA
07/02/18
DOWNGRADE
Target $80
BOFA
Neutral
Las Vegas Sands downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Shaun Kelley downgraded Las Vegas Sands to Neutral and cut its price target to $80 from $85. The analyst said June was the second month of weaker than expected GGR growth, there are continued mixed reads from the firm's Macau Macro Activity Tracker, and weaker FX and trade fears have increased uncertainty.
07/20/18
MSCO
07/20/18
NO CHANGE
MSCO
MGM Resorts forecast lowered at Morgan Stanley to account for Macau share loss
Morgan Stanley analyst Thomas Allen, in his preview of Q2 results for the Gaming names he covers, noted that Macau GGR increased 17% in Q2, which was above his estimate of 16% growth. He also said he expects Las Vegas has had a "relatively good" quarter, noting RevPAR in April-May was up 6% and June has a "relatively easy" comparison. Allen lowered his Q2 consolidated property EBITDA estimate for MGM Resorts (MGM) by 2%, factoring in more share loss at the Peninsula property and worse hold as well as lower MGM Cotai EBITDA, and he lowered his price target on MGM to $38 from $39. He raised his Q2 consolidated property EBITDA estimate for Las Vegas Sands (LVS) by 1% and keeps an $86 price target on the stock. He raised his Q2 property EBITDA view for Wynn (WYNN) by 3% and keeps a $200 price target on its shares. Allen has Overweight ratings on Las Vegas Sands and MGM and an Equal Weight rating on Wynn Resorts.
07/02/18
07/02/18
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. Canon (CAJ) downgraded to Sell from Neutral at Goldman Sachs with analyst Satoru Ogawa recommending a cautious stance on the Japanese precision equipment sector due to "high valuations and flagging earnings momentum." 2. Integra LifeSciences (IART) downgraded to Neutral from Buy at Citi with analyst Amit Haza saying he sees limited upside following the recent rally in the shares. 3. Nevro (NVRO) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Lewis stating that Nevro's commercial message on clinically superiority has not resonated and competitors have gained traction, blunting the company's share gains. 4. Nordstrom (JWN) downgraded to Market Perform from Outperform at Cowen with analyst Oliver Chen citing the stock's current valuation after its recent run, his view of a likely lack of near-term upside to full-line sales and store traffic, and the need for improvements at the Rack division. 5. Las Vegas Sands (LVS) downgraded to Neutral from Buy at BofA/Merrill with analyst Shaun Kelley saying June was the second month of weaker than expected GGR growth, there are continued mixed reads from the firm's Macau Macro Activity Tracker, and weaker FX and trade fears have increased uncertainty. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BBY Best Buy
$76.07

0.14 (0.18%)

06/21/18
KEYB
06/21/18
NO CHANGE
KEYB
Supreme Court ruling negative for Wayfair, eBay and Etsy, says KeyBanc
After the Supreme Court ruled that states can require online merchants to collect sales taxes, KeyBanc analyst Edward Yruma called the ruling a negative for Wayfair (W), arguing that it may reduce some of the price differential that has helped it gain share from traditional peers. The ruling is also a negative, but to a lesser degree, for eBay (EBAY) and Etsy (ETSY), said Yruma, who views the impact on those two as more related to compliance and implementation. He adds that the news could be a modest positive for retailers of high-ticket and branded products, such as Best Buy (BBY), Home Depot (HD), Lowe's (LOW), La-Z-Boy (LZB), Kirkland's (KIRK), RH (RH) and Williams-Sonoma (WSM).
06/11/18
LOOP
06/11/18
NO CHANGE
Target $85
LOOP
Buy
Best Buy remains 'attractively valued', says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Buy rating and $85 price target on Best Buy (BBY), saying that despite the outperformance by the stock relative to the broader market since the start of last year, valuations remain attractive. The analyst adds that Best Buy stacks up "favorably" relative to Walmart (WMT) "along a number of dimensions", but trades at a lower PE multiple, noting that there is "plenty of room" for multiple expansion amid "continued steady comparable sales growth and healthy consensus earnings beats."
05/21/18
JEFF
05/21/18
NO CHANGE
Target $79
JEFF
Hold
Best Buy Q1 comp estimate raised to 6% from 3.5% at Jefferies
To reflect channel checks and "strong" industry data, Jefferies analyst Daniel Binder raised his Q1 comp sales estimate for Best Buy to 6.0% from 3.5%. "Strong" underlying trends against easy comparisons allowed Best Buy to overcome the headwinds of lapping tough gaming comps, Binder tells investors in a research note. Further, he believes that government data suggest his estimates could prove conservative. The analyst expects a good Q1 from Best Buy and upped his price target for the shares to $79 from $74. Binder keeps a Hold rating on the stock.
05/24/18
LOOP
05/24/18
NO CHANGE
Target $85
LOOP
Buy
Best Buy target raised to $85 on 'strong' Q1 at Loop Capital
Best Buy "continued to hit on all cylinders" in Q1, providing further evidence that it is well equipped to compete in the "rapidly evolving consumer electronics retailing marketplace," Loop Capital analyst Anthony Chukumba tells investors in a post-earnings research note. He believes management is being conservative in maintaining the Q2 earnings guidance. To reflect the "strong" Q1 results, Chukumba raised his price target for Best Buy shares to $85 from $83 and reiterates a Buy rating on the name.
ULTA Ulta Beauty
$234.97

0.1 (0.04%)

07/26/18
OPCO
07/26/18
DOWNGRADE
OPCO
Perform
Oppenheimer downgrades e.l.f. Beauty to Perform on estimate risk
Oppenheimer analyst Rupesh Parikh downgraded e.l.f. Beauty (ELF) to Perform from Outperform saying the bull case is more uncertain from here. The analyst does not have a price target for the shares. Recent developments, including "still challenging trends" in the mass category and increased tariff uncertainty, bring greater risk to consensus forecasts, Parikh tells investors in a research note. He is harder-pressed to see the case for share outperformance. Ulta Beauty (ULTA) and Estee Lauder (EL) remain Parikh's top picks in beauty.
07/30/18
JEFF
07/30/18
NO CHANGE
Target $285
JEFF
Buy
Ulta Beauty removed from Franchise Pick List at Jefferies
Jefferies analyst Stephanie Wissink removed Ulta Beauty from her firm's Franchise Pick List but keeps a Buy rating on the shares with a $285 price target. The analyst is starting to see signs that the "hyper-consumption cycle" in beauty has peaked and the rate of growth is moderating. Wissink, however, remains confident in Ulta's ability to capture market share.
06/19/18
ATLE
06/19/18
INITIATION
Target $303
ATLE
Overweight
Ulta Beauty initiated with an Overweight at Atlantic Equities
Atlantic Equities analyst Daniela Nedialkova initiated Ulta Beauty with an Overweight and $303 price target.
07/26/18
07/26/18
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. PIPER CUTS 3D SYSTEMS TO UNDERWEIGHT: Piper Jaffray analyst Troy Jensen downgraded 3D Systems (DDD) to Underweight from Neutral with a $10 price target. He believes competition for the company's main product lines is intensifying. The analyst also thinks 3D will need to increase spending on direct sales, customer support and consulting, meaning "meaningful profitability" will likely be more challenged than revenue growth throughout 2018. He views the stock as overvalued. While Jensen continues to believe the overall 3D printing industry is "growing rapidly," he remains cautious on shares of 3D Systems and Stratasys (SSYS). He reiterated a Neutral rating on the latter. OPCO CUTS E.L.F. TO PERFORM: Oppenheimer analyst Rupesh Parikh downgraded e.l.f. Beauty (ELF) to Perform from Outperform saying the bull case is more uncertain from here. The analyst does not have a price target for the shares. Recent developments, including "still challenging trends" in the mass category and increased tariff uncertainty, bring greater risk to consensus forecasts, Parikh tells investors in a research note. He is harder-pressed to see the case for share outperformance. Ulta Beauty (ULTA) and Estee Lauder (EL) remain Parikh's top picks in beauty. FACEBOOK GETS MULTIPLE DOWNGRADES AFTER Q2 EARNINGS: Nomura Instinet analyst Mark Kelley downgraded Facebook (FB) to Neutral from Buy after the company delivered "underwhelming" Q2 results and guided for revenue growth deceleration through the end of the year. The revenue guidance paired with the expectation for mid-30% operating margins in the medium term or possibly longer means consensus numbers will be cut "drastically," he said. He lowered his price target on Facebook shares to $183 from $228. Facebook was also downgraded to Neutral from Buy by UBS analyst Eric Sheridan, who also lowered his price target for the shares to $180 from $212, and to Outperform from Strong Buy at Raymond James. Facebook shares are down over 19% in late morning trading. PIPER SAYS BIOGEN SELLOFF A BUYING OPPORTUNITY: Biogen (BIIB) shares "will recover and continue to work" into aducanumab's full Phase 3 data in 2020, Piper Jaffray analyst Christopher Raymond told investors. With the stock having run up into these data, the analyst said he understood the "sell-the-news" phenomenon. He believes, however, that the fundamental concerns he's heard from investors "don't seem to hold water." The analyst said to buy Biogen shares on the selloff. He kept an Overweight rating on the name with a $400 price target.
AFL Aflac
$46.59

0.23 (0.50%)

08/01/18
SDLR
08/01/18
UPGRADE
SDLR
Buy
Aflac upgraded to Buy from Hold at Sandler O'Neill
08/01/18
08/01/18
UPGRADE
Target $52

Buy
Aflac upgraded to Buy on better fundamentals at Sandler ONeill
As previously reported, Sandler ONeill analyst John Barnidge upgraded Aflac to Buy from Hold citing its better fundamentals, as he believes its Q2 report demonstrated that there is pent up demand for its products and that the company "appears to have finally cracked" distribution of its products in the U.S. While the company is often comped as a life insurer, in many ways it is not, said Barnidge, who views the stock's valuation as attractive. He raised his price target on Aflac shares to $52 from $50.
04/26/18
JPMS
04/26/18
NO CHANGE
Target $47
JPMS
Overweight
Aflac shares less attractive following recent rally, says JPMorgan
Aflac's earnings beat expectations in Q1, but business trends were weaker than anticipated, JPMorgan analyst Jimmy Bhullar tells investors in a post-earnings research note. He believes the results were marked by strong underwriting margins, lower than assumed share buybacks, and poor Japan and U.S. sales. The analyst, while keeping an Overweight rating on Aflac with a $47 price target, is less bullish following the stock's significant outperformance.
04/25/18
FBCO
04/25/18
INITIATION
Target $49
FBCO
Neutral
Aflac initiated with a Neutral at Credit Suisse
Credit Suisse analyst Andrew Kligerman started Aflac with a Neutral rating and $49 price target saying that while investors should appreciate its attractive products, thoughtful strategies, capital management, and unparalleled transparency, the stock appears fairly valued.
ATH Athene Holding
$49.22

3.47 (7.58%)

06/08/18
LEHM
06/08/18
INITIATION
Target $51
LEHM
Equal Weight
Athene Holding reinstated with an Equal Weight at Barclays
Barclays analyst Jay Gelb reinstated coverage of Athene Holding with an Equal Weight rating and $51 price target.
06/12/18
WELS
06/12/18
NO CHANGE
WELS
Outperform
California legal action doesn't warrant 3% slide for Athene, says Wells Fargo
Wells Fargo analyst Sean Dargan noted that Athene shares have declined about 3% after California's Department of Insurance announced legal action against a unit of the company, but he thinks the move is not warranted. Athene has previously telegraphed that it expected to receive inquires like California's after New York regulators had voiced concerns, said Dargan. Even if he reduced his estimates for all of the annuity consideration and life premium that Athene Annuity and Life generated in California in 2017, Dargan said the hit to EPS would only be 0.6% of his estimate for the next twelve months. He keeps an Outperform rating on Athene shares.
07/11/18
SBSH
07/11/18
NO CHANGE
SBSH
Neutral
Citi questions if Athene Holding shares can ever outperform
Citi analyst Suneet Kamath keeps a Neutral rating on Athene Holding in a research note titled "If ATH Can't Outperform in the Current Environment, Can it Ever?" The stock should be outperforming in the current environment given its "continued capital optionality," upside potential from the Voya Financial (VOYA) deal and a "benign" credit environment, Kamath tells investors in a research note. The analyst adds: "The fact that it is not raises the question: can it ever?" Kamath estimates Athene's tax rate advantage has gone from 20-21 points to 5-6 points. He also believes the company's offshore strategy might soon be replicated "by yet another company," creating more competition in the market and among investors. Kamath sees more attractive opportunities elsewhere in the Insurance space.
04/25/18
FBCO
04/25/18
INITIATION
Target $67
FBCO
Outperform
Athene Holding initiated with an Outperform at Credit Suisse
Credit Suisse analyst Andrew Kligerman started Athene Holding with an Outperform rating and $67 price target saying its unique investment skills, tax efficiency, and multiple revenue sources support significant growth and returns and thus its substantial upside potential.
LNC Lincoln National
$66.63

0.9 (1.37%)

08/03/18
SBSH
08/03/18
NO CHANGE
SBSH
Lincoln National oversold at current levels, says Citi
Citi analyst Suneet Kamath views shares of Lincoln National as oversold at current levels. He was surprised by the post-earnings selloff saying the conference call highlighted key positives, including that the recent Liberty group deal is performing better than original forecasts and expectations for positive annuity flows by Q4.
05/11/18
05/11/18
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. Tyson Foods (TSN) initiated with an Outperform at Bernstein. 2. Dexcom (DXCM) initiated with a Buy at BofA/Merrill. 3. Riot Blockchain (RIOT) initiated with a Buy at H.C. Wainwright. 4. American Eagle (AEO) initiated with an Outperform at Wedbush, while Abercrombie & Fitch (ANF) , Express (EXPR) initiated with a Neutral at Wedbush, and Lululemon (lulu) were initiated with a Neutral. 5. Lincoln National (LNC) reinstated 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.
05/21/18
DBAB
05/21/18
NO CHANGE
Target $82
DBAB
Buy
Lincoln National shares 'currently materially dislocated,' says Deutsche Bank
Deutsche Bank analyst Joshua Shanker attributes the recent weakness in shares of Lincoln National to weaker than expected Q1 results from life insurance peers and the "cloud of uncertainty" regarding the adequacy of long-term care reserves. The analyst, however, believes shares of Lincoln are "currently materially dislocated." He reiterates a Buy rating on the name while trimming his price target to $82 from $87.
06/04/18
MSCO
06/04/18
INITIATION
Target $26
MSCO
Overweight
AXA Equitable initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Nigel Dally initiated AXA Equitable (EQH) with an Overweight rating and $26 price target, noting that AXA shares currently trade at what he views as "compelling valuation" and a depressed price to earnings ratio of 5.4 times 2019 estimates. This is a "small premium" to Brighthouse Financial's (BHF) but "significantly below" Lincoln National's (LNC), noted Dally, who views Brighthouse and Lincoln as AXA's two closest comparables.
AJG Arthur J. Gallagher
$71.42

0.25 (0.35%)

06/18/18
GSCO
06/18/18
INITIATION
Target $81
GSCO
Buy
Arthur J. Gallagher initiated with a Buy at Goldman Sachs
Goldman Sachs started Arthur J. Gallagher with a Buy rating and $81 price target.
03/09/18
03/09/18
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. Akamai (AKAM) upgraded to Overweight from Neutral at JPMorgan, with analyst Sterling Auty saying management is embracing the right strategy proposed by activist investor Elliot Management by focusing on margin improvement, cybersecurity, and capital return. 2. Arthur J. Gallagher (AJG) upgraded to Outperform from Market Perform at William Blair, with analyst Adam Klauber saying an inflection point in funding mix should be a catalyst for the shares. 3. Williams (WMB) and Williams Partners (WPZ) were upgraded to Overweight from Neutral at JPMorgan. 4. 58.com (WUBA) upgraded to Buy from Hold at Benchmark, with analyst Fawne Jiang citing its strong operating leverage, which is leading to "robust" earnings growth. 5. Kohl's (KSS) upgraded to Outperform from Market Perform at Cowen, with analyst Oliver Chen saying he likes its improving fundamentals, modest valuation and sees mixed sentiment on the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/08/18
WBLR
03/08/18
UPGRADE
WBLR
Outperform
Arthur J. Gallagher upgraded to Outperform from Market Perform at William Blair
William Blair analyst Adam Klauber upgraded Arthur J. Gallagher to Outperform saying an inflection point in funding mix should be a catalyst for the shares.
06/18/18
GSCO
06/18/18
INITIATION
Target $81
GSCO
Buy
Arthur J. Gallagher initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Yaron Knar initiated Arthur J. Gallagher with a Buy and $81price target telling investors he expects organic growth to remain stable in the 4% range through 2020, combined with further efficiency measures, should continue to drive margin expansion of roughly 50bps per year despite investments in the platform and talent. Knar believes Arthur J. Gallagher shares are undervalued given consistent utilization of free cash flow to supplement organic growth with acquired revenues.
CB Chubb
$138.79

1.13 (0.82%)

06/18/18
GSCO
06/18/18
DOWNGRADE
Target $144
GSCO
Neutral
Chubb downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Yaron Kinar downgraded Chubb to Neutral and lowered his price target for the shares to $144 from $155. The analyst does not expect industry pricing to keep pace with "deteriorating loss cost trends" and does not believe Chubb "can completely avoid this." He calls Chubb a quality underwriter but sees limited upside from current share levels.
06/06/18
KBWI
06/06/18
NO CHANGE
KBWI
Amazon unlikely to overly disrupt insurance market, says Keefe Bruyette
Amazon.com's (AMZN) possible entry into homeowners insurance is unlikely to be "overly disruptive" to the industry, Keefe Bruyette analyst Meyer Shields told investors earlier in a research note. The analyst says that in the past, the U.S has been a relatively slow adopter of online insurance offerings. Names in the property and casualty insurance space include AIG (AIG), Allstate (ALL), Chubb (CB), Hartford Financial (HIG), Progressive (PGR) and Travelers (TRV).
06/27/18
ATLE
06/27/18
UPGRADE
ATLE
Neutral
Chubb upgraded to Neutral from Underweight at Atlantic Equities
06/06/18
JPMS
06/06/18
NO CHANGE
JPMS
Amazon more likely to partner with home insurers, JPMorgan says
Insuring homes is a highly regulated business that requires major infrastructure to settle claims and the catastrophe exposure is significant, JPMorgan analyst Sarah DeWitt tells investors in a research note after The Information reported that Amazon.com (AMZN) is considering offering homeowner's Insurance. The analyst would be surprised if Amazon sought to fully manufacture homeowners' insurance and thinks a partnership with insurers would be more likely. Names in the property and casualty insurance space include Progressive (PGR), Allstate (ALL), Chubb (CB), Hartford Financial (HIG) and Travelers (TRV).
AMZN Amazon.com
$1,823.29

-10.96 (-0.60%)

07/27/18
07/27/18
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. MATTEL UPGRADED ON TAKEOVER POSSIBILITY: DA Davidson analyst Linda Bolton Weiser upgraded Mattel (MAT) to Neutral from Underperform and raised her price target to $14 from $12. The analyst noted that while the company underperformed in Q2 as she expected, due to the hard 2017 comparisons driven by last year's Cars 3 release and the impact from the Toys R Us liquidation, investor belief that the company could be sold is supporting the stock. Weiser adds that as long as Ynon Kreiz is at the helm, Mattel's elevated valuation could persist. INTEL GETS MULTIPLE DOWNGRADES AFTER EARNINGS: Citi analyst Christopher Danely downgraded Intel (INTC) to Neutral from Buy and lowered his price target for the shares to $50 from $64. The analyst said he sees a "host of margin headwinds coming" and calls the company's rollout of 10 nanometer a "debacle." He believes Intel's valuation multiple will remain under pressure. BofA Merrill Lynch downgraded Intel to Neutral from Buy and lowered its price target to $56 from $62 following the Q2 report. Analyst Vivek Arya said shares will remain range bound given a deceleration in FY19 earnings growth, a competitive position that is becoming tougher with next-gen 10mn product delays, higher capex from insourcing memory, and potential gross margin declines. Intel is down 8.4% in late morning trading. JPMORGAN DEFENDS SYNCHRONY: JPMorgan analyst Richard Shane believes Synchrony Financial (SYF) shares have been "substantially oversold" relative to the fundamental impact to the business from Walmart's (WMT) decision to go with Capital One (COF). The analyst reiterated an Overweight rating on Synchrony and recommended buying the stock at current levels. He estimated a $625M reduction of 2020 net income to common shareholders, or 17c per share in earnings. Shane lowered his price target for Synchrony to $39 from $41 as a result. He believes, however, that the stock will continue to trade at a discount to these levels until there is more clarity about a strategic outcome. AMAZON PRICE TARGET RAISED AT MULTIPLE FIRMS: After reporting its Q2 results, Amazon (AMZN) saw its price target raised by multiple analysts, including by Deutsche Bank analyst Lloyd Walmsley, who raised his price target for Amazon.com to $2,300. He said last night's Q2 results beat his expectations "almost across the board," and added that Amazon remains his top pick among the large cap Internet names. The analyst kept a Buy rating on the shares. Amazon shares are 1.4% higher to about $1,834 in late morning trading.
08/01/18
LOOP
08/01/18
NO CHANGE
LOOP
Loop Capital says Macom comments suggest Applied Optoelectronics, Finisar risk
Loop Capital analyst James Kisner noted that Macom (MTSI) said on its earnings call that last quarter it expanded its roster of white-box transceiver partners and launched its Data Center solutions business. He quotes the company as having said that its agreement with a new customer "enables a new high-volume optical manufacturer to enter the business of delivering fully-qualified CWDM4 transceivers to cloud service providers from their new 400,000-square-foot manufacturing facility." Kisner said the comments suggest a significant risk to the data center optics businesses of Applied Optoelectronics (AAOI) and Finisar (FNSR) now appears to be realized, as customers such as Amazon (AMZN) can effectively "cut out the middlemen" from the module assembly business. About 80% of both Applied's and Finisar's sales come from datacom transceivers, which is business most directly threatened by this development, added Kisner.
08/01/18
BTIG
08/01/18
NO CHANGE
Target $235
BTIG
Buy
Apple price target raised to $235 from $207 at BTIG
BTIG analyst Walter Piecyk, in a note published last night, raised his price target on Apple (AAPL) shares to $235 from $207, stating that he believes there are early signs that upgrade rates might be bottoming and noting that iPhone revenue grew by over 20% despite "historic low" upgrade rates in Q3. Apple CEO Tim Cook hinted at a noteworthy content project, added Piecyk, who agrees with fellow BTIG analyst Rich Greenfield's view that Apple is likely to follow Netflix (NFLX) and Amazon's (AMZN) approach "build their way into the market rather than buy their way in" to video. Piecyk keeps a Buy rating on Apple shares.
ATVI Activision Blizzard
$71.33

-2.8 (-3.78%)

07/25/18
PIPR
07/25/18
NO CHANGE
Target $84
PIPR
Overweight
Activision Blizzard price target raised to $84 from $75 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for Activision Blizzard to $84 ahead of the company's Q2 results on August 2. The analyst expects an "uneventful," in-line quarter with an unchanged or fractionally higher fiscal year outlook. He keeps an Overweight rating on Activision shares.
07/12/18
MSCO
07/12/18
NO CHANGE
Target $80
MSCO
Overweight
Morgan Stanley calls Overwatch deal with Disney an 'important step' for esports
Morgan Stanley analyst Brian Nowak said Activision Blizzard's (ATVI) exclusive live television coverage deal with Disney (DIS) for the Overwatch League not only has the potential to drive higher licensing revenue for the company but its also an "important step" in continuing to establish esports as more of a mainstream event and towards his $100 per share "bull case" for Activision shares. Nowak maintains an Overweight rating and $80 price target on Activision Blizzard shares.
07/31/18
NEED
07/31/18
NO CHANGE
Target $90
NEED
Buy
Activision Blizzard price target raised to $90 from $80 at Needham
Needham analyst Laura Martin raised her price target on Activision Blizzard to $90 and kept her Buy rating ahead of its Q2 earnings, citing the company's upside from total addressable market of eSports valuation potential estimated at $9.30 per share. The analyst also attributes her expectations of near term strength to continued popularity of Overwatch, World of Warcraft, and Candy Crush, as well as the company's improved average revenue per user.
07/24/18
MKMP
07/24/18
NO CHANGE
Target $166
MKMP
Buy
Electronic Arts, Take-Two, Activision price targets raised at MKM Partners
MKM Partners analyst Eric Handler raised the price targets on his Buy-rated Electronic Arts (EA) and Take-Two (TTWO) to $166 from $144 and $142 from $130 respectively as well as the Neutral-rated Activision Blizzard (ATVI) to $82 from $70 as part of his broader research note on Video Games. The analyst said the industry outlook remains positive, with secular tailwinds strengthened by the discussions of streaming and subscription-based revenue streams. Handler adds that while the potential for streaming from Wi-Fi devices may be years away, there is optimism from recent "discussions regarding a larger total addressable market, better latency and the potential for new business models" at E3. With accelerating title releases and new multi-player formats in gaming, the analyst expects the video game industry to have a strong second half of 2018.
FB Facebook
$177.76

1.43 (0.81%)

08/02/18
MKMP
08/02/18
NO CHANGE
Target $230
MKMP
Buy
Facebook price target lowered to $230 from $255 at MKM Partners
MKM Partners analyst Rob Sanderson lowered his price target on Facebook to $230 but kept his Buy rating, saying investors should "take advantage" of the "second capitulation" in the stock. The analyst says the current valuation multiple is too low after the management's "aggressively conservative" outlook relative to consensus even though growth deceleration is nearing, with consensus pricing in about 15% of revenue slowdown in the next two quarters.
07/26/18
EDJN
07/26/18
DOWNGRADE
EDJN
Hold
Facebook downgraded to Hold from Buy at Edward Jones
07/30/18
MZHO
07/30/18
NO CHANGE
Target $25
MZHO
Underperform
Twitter should trade at discount to Facebook, says Mizuho
Mizuho analyst James Lee says that while Twitter (TWTR) reported "strong" Q2 results, EBITDA and implied revenue guidance for Q3 was below consensus by 16% and 6%, respectively. Management cited the health initiative that will slow down active user growth and increase operating expenditures due to headcount additions, Lee tells investors in a post-earnings research note. He keeps an Underperform rating on Twitter shares with a $25 price target, which represents 12.5 times his 2020 EBITDA estimate. The analyst believes the stock should trade at a discount to his Facebook (FB) target of 13.5 times EBITDA.
07/27/18
07/27/18
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. Facebook (FB) downgraded to Hold from Buy at Edward Jones. 2. LogMeln (LOGM) downgraded to Neutral from Overweight at Piper Jaffray and JPMorgan, to Sector Perform from Outperform at RBC Capital, and to Neutral from Outperform at Baird. 3. Nielsen (NLSN) downgraded to Market Perform from Outperform at BMO Capital with analyst Daniel Salmon saying a material change in risk-reward amid deceleration of Emerging Buy, the announcement of CEO retirement, and the strategic review of the Buy segment. 4. Intel (INTC) downgraded to Hold from Buy at Summit Insights and to Neutral from Buy at BofA/Merrill as well as Citi. 5. Deckers Brands (DECK) downgraded to Hold from Buy at Stifel with analyst Jim Duffy saying he is being "valuation aware" and thinks further meaningful upside may prove limited despite the company's Q1 report showing evidence of strong management execution towards their margin improvement plans. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GOOGL Alphabet Class A
$1,237.56

-3.68 (-0.30%)

07/30/18
KEYB
07/30/18
NO CHANGE
Target $1430
KEYB
Overweight
2018 shaping up to be year of Google Cloud, says KeyBanc
KeyBanc analyst Andy Hargreaves says partner and customer feedback at Google Next in San Francisco last week was surprisingly bullish on the increasing adoption of G Suite, Google Cloud, and Chrome at enterprises. This was in stark contrast to prior Google Cloud events that he has attended over the past couple of years, signaling an important inflection point for Google Cloud in 2018, the analyst contends. For Alphabet, Hargreaves is encouraged with the progress of its cloud efforts and view it as a significant growth opportunity longer term with the potential to grow into a $30B-plus run-rate business exiting 2022. He reiterates an Overweight rating and $1,430 price target on the stock.
07/25/18
ARGS
07/25/18
NO CHANGE
Target $1450
ARGS
Buy
Alphabet price target raised to $1,450 from $1,300 at Argus
Argus analyst Joseph Bonner raised his price target on Alphabet to $1,450 and kept his Buy rating after its "strong revenue growth" reported in Q2 in spite of the record setting European Commission fine. The analyst says the bearish case on Alphabet that the transition to mobile will lead to reduced use of its search and lower monetization is being negated by strong mobile search advertising revenue. Bonner also notes that the company's next-generation businesses - YouTube, Google Cloud, and Google Play - have also started to produced "significant" revenue growth.
GOOG Alphabet
$1,223.28

-2.72 (-0.22%)

08/03/18
NEED
08/03/18
UPGRADE
NEED
Hold
TripAdvisor upgraded to Hold from at Needham on non-hotel focus
As reported earlier, Needham analyst Laura Martin upgraded TripAdvisor (TRIP) to Hold from Underperform, saying that while the company's pivot to competing as an online travel agent has failed, its focus to grow its non-hotel businesses is a "higher ROI idea". The analyst is positive on the company's "experience aggregator" platform and its "enormous" traffic of 450M MAUs and 150M monthly unique hotel shoppers. The analyst remains concerned about Google (GOOG) and Booking Holdings (BKNG) and Expedia (EXPE) outspending TripAdvisor on travel accommodation advertising.
07/25/18
BARD
07/25/18
NO CHANGE
Target $1380
BARD
Outperform
Alphabet Fresh Pick designation removed at Baird
Baird analyst Colin Sebastian removed his Fresh Pick designation from Alphabet following the stock's recent price strength. While he believes fundamental trends remains favorable and he continues to expect strong growth, he believes the Street now has a better grasp on the benefits of AI and Machine Learning and moderating TAC growth, both of which underpinned his Fresh Pick thesis. Sebastian has an Outperform rating and $1,380 price target on Alphabet shares.
AAPL Apple
$208.00

0.65 (0.31%)

08/01/18
BOFA
08/01/18
NO CHANGE
Target $230
BOFA
Buy
Apple stock to continue to outperform, says BofA/Merrill
BofA/Merrill analyst Wamsi Mohan kept his Buy rating and $230 price target on Apple after its Q3 earnings beat, also raising his FY18 EPS view to $11.77 from $11.59. In a research note titled "Five reasons to buy Apple post the quarter", the analyst says the stock should continue to outperform based on: 1) strong underlying iPhone demand and higher average selling prices; 2) gross margin upside from lower NAND memory prices; 3) strong capital returns; 4) continued strength of the Services segment; and 5) strong demand for wearable devices such as AirPods and the Apple Watch.
08/01/18
BMOC
08/01/18
NO CHANGE
Target $199
BMOC
Market Perform
Apple price target raised to $199 from $184 at BMO Capital
BMO Capital analyst Tim Long raised his price target on Apple to $199 after its Q3 earnings beat and raise of its guidance, saying the results were driven by "better than seasonal" iPhone selling prices and strong Services segment. The analyst notes that ASPs declined about 8% in Q3 over the past two years, but only saw a 1% sequential decline this time. Long also keeps his Market Perform rating on Apple, saying the upside in the shares is limited because of valuation.
08/02/18
SBSH
08/02/18
NO CHANGE
Target $5
SBSH
Sell
Citi reiterates Sell on Fitbit, says not an acquisition target
Citi analyst Jim Suva reiterates a Sell rating on Fitbit (FIT) with a $5 price target following the company's Q2 results, which he notes were largely better than expected except for a decline in free cash flow. Apple's (AAPL) smart watch is smarter than Fitbit's (FIT) smartwatches, which do not allow "robust" two-way communication or a lengthy app catalog, and the price differential is immaterial, Suva tells investors in a post-earnings research note. Further, he does not see Fitbit as an acquisition target.
TEX Terex
$40.32

-0.74 (-1.80%)

07/19/18
WELS
07/19/18
DOWNGRADE
Target $45
WELS
Market Perform
Terex downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Andrew Casey downgraded Terex to Market Perform with a $45 price target.
07/19/18
07/19/18
DOWNGRADE
Target $45

Market Perform
Terex downgraded to Market Perform on limited upside potential at Wells Fargo
As previously reported, Wells Fargo analyst Andrew Casey downgraded Terex to Market Perform from Outperform on perceived limited upside potential. The analyst notes that his crane check was good but not great, with demand appearing to sequentially flatten. He still likes the path management is pursuing, but he perceives limited upside to his expectations as production/supply chain constraints appear to limit substantial upside.
07/10/18
BARD
07/10/18
DOWNGRADE
Target $38
BARD
Underperform
Terex downgraded to Underperform from Neutral at Baird
Baird analyst Mircea Dobre downgraded Terex to Underperform, telling investors in a research note that equipment demand is likely to slow as signs of plateauing rental growth emerge. While rental rates are strong, Dobre says recent fleet growth is beginning to become more apparent in flattening utilization and slower rental rates. The analyst believes OEM margins remain under pressure and demand into 2019 is "increasingly at risk." Dobre maintains a $38 price target on shares.
07/19/18
07/19/18
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. Tesla (TSLA) downgraded to Underperform from Hold at Needham with analyst Rajvindra Gill saying the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. 2. Procter & Gamble (PG) downgraded to Neutral from Buy at UBS with analyst Steven Strycula saying the company's reinvestment cycle limits earnings and stock upside. 3. Terex (TEX) downgraded to Market Perform from Outperform at Wells Fargo with analyst Andrew Casey saying his crane check was good but not great, with demand appearing to sequentially flatten. 4. Spark Therapeutics (ONCE) downgraded to Sector Perform from Outperform at RBC Capital with analyst Kennen MacKay saying that after a strong run-up in the stock price driven by lofty expectations for the ongoing Phase 1/2 trial of SPK-8011 in patients with hemophilia, achieving mean FVIII expression levels of 30-55% anticipated by the Street could prove "challenging" as "data to date has not indicated clear dose responsiveness." 5. Hyatt (H) downgraded to Hold from Buy at Berenberg with analyst El Kassir saying Hyatt continues to benchmark well on its pipeline, however, there is little scope for future growth to accelerate from current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CLF Cleveland-Cliffs
$10.88

0.3 (2.84%)

07/23/18
JPMS
07/23/18
UPGRADE
Target $15
JPMS
Overweight
Cleveland-Cliffs upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Michael Gambardella upgraded Cleveland-Cliffs to Overweight and raised his price target for the shares to $15 from $9. The analyst cites the company's "strong" U.S. iron ore earnings momentum and the removal of an overhang with the Asia Pacific Iron Ore sale. Gambardella is incrementally more positive on the shares following last week's Q2 results.
06/29/18
MSCO
06/29/18
NO CHANGE
MSCO
Morgan Stanley more positive on metals, ups Freeport, Cleveland-Cliffs targets
Morgan Stanley analyst Piyush Sood noted that the firm's metals team has raised its near-term metals/bulks forecasts to incorporate significant upward revisions to met coal, iron ore and nickel in 2018-19, as well as a modest price increase for copper in 2019. Given the team's more constructive view on met coal, copper and iron ore, Sood increased his price target on Warrior Met Coal (HCC) shares to $27 from $25, raised his target on Freeport McMoRan (FCX) to $16 from $15, bumped up his Cleveland-Cliffs (CLF) target to $8 from $7.50 and upped his Teck Resources (TECK) target to $29 from $27.
07/23/18
07/23/18
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. Duke Energy (DUK) upgraded to Neutral from Underweight at JPMorgan with analyst Christopher Turnure saying execution risk is priced into the shares at current levels and the company's visibility is improved following recent regulatory outcomes. 2. SunTrust (STI) upgraded to Buy from Neutral at B. Riley FBR with analyst Steve Moss citing the company's better outlook for revenue growth and efficiency improvement following its "good" Q2 results. 3. Cleveland-Cliffs (CLF) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Gambardella citing the company's "strong" U.S. iron ore earnings momentum and the removal of an overhang with the Asia Pacific Iron Ore sale. 4. Delphi Technologies (DLPH) upgraded to Outperform from Perform at Oppenheimer with analyst Noah Kaye saying that trade risks, peak U.S. SAAR concerns, light duty diesel decline and potential long-term disruption from electrification have all contributed to a tempest of negative sentiment on the auto suppliers. 5. Essex Property Trust (ESS) upgraded to Market Perform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/23/18
SBSH
07/23/18
NO CHANGE
Target $12
SBSH
Buy
Cleveland-Cliffs shares have room to move higher, says Citi
Citi analyst Daniel Knauff sees room for Cleveland-Cliffs shares to move higher following Friday's 13% post-earnings really. The analyst raised his price target for the stock to $12 from $11 and keeps a Buy rating on the name. As Cleveland-Cliffs delivers on deleveraging, begins capital returns and de-risks the HBI project the stock can appreciate further, Knauff tells investors in a research note. He keeps a Buy rating on the shares.
FCX Freeport McMoRan
$15.72

0.285 (1.85%)

08/02/18
08/02/18
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. Tesla (TSLA) upgraded to Outperform from Perform at Oppenheimer with analyst Colin Rusch saying gross margin performance on the Model 3 will carry the stock over the next 12-plus months. 2. Freeport McMoRan (FCX) upgraded to Neutral from Underperform at BofA/Merrill with analyst Timna Tanners citing valuation, reduced political risk at Grasberg, and a more constructive view on copper. 3. EnLink Midstream Partners (ENLK) upgraded to Buy from Hold at Stifel with analyst Timothy Howard citing the company's Q2 results that topped his expectations and raised 2018 guidance, which also lifted expectations in 2019. 4. Univar (UNVR) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Roert Koort saying the weakness following the in line Q2 report and reaffirmed 2018 guidance is "unwarranted." 5. Qorvo (QRVO) upgraded to Hold from Sell at Summit Insights with analyst Kinngai Chan citing the Q2 report saying investor expectations were high going into the report and now expects shares to perform in-line. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/26/18
DBAB
07/26/18
UPGRADE
Target $15.5
DBAB
Hold
Freeport McMoRan upgraded to Hold from Sell at Deutsche Bank
Deutsche Bank analyst Chris Terry upgraded Freeport McMoRan to Hold with an unchanged price target of $15.50. Following the company's Q2 results, the analyst believes the risks are now priced into the shares.
08/02/18
BOFA
08/02/18
UPGRADE
Target $17
BOFA
Neutral
Freeport McMoRan upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Timna Tanners upgraded Freeport McMoRan to Neutral from Underperform and maintained a $17 price target citing valuation, reduced political risk at Grasberg, and a more constructive view on copper.
07/26/18
07/26/18
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. Dana (DAN) upgraded to Overweight from Equal Weight at Barclays with analyst Brian Johnson citing the company's Q2 results. 2. Xilinx (XLNX) upgraded to Buy from Neutral at Rosenblatt and to Buy from Underperform at BofA/Merrill. 3. Freeport McMoRan (FCX) upgraded to Hold from Sell at Deutsche Bank with analyst Chris Terry saying he believes the risks are now priced into the shares. 4. Integra LifeSciences (IART) upgraded to Buy from Neutral at BTIG with analyst Ryan Zimmerman saying the pullback in the stock price after its in-line Q2 results has created a more attractive valuation. 5. Cracker Barrel (CBRL) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson saying he sees more stable comps and lower food costs helping the company return to low-teen earnings growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FLT FleetCor
$216.09

-6.14 (-2.76%)

07/17/18
WOLF
07/17/18
INITIATION
Target $270
WOLF
Outperform
FleetCor initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated FleetCor with an Outperform and $270 price target.
03/14/18
MSCO
03/14/18
NO CHANGE
Target $235
MSCO
Overweight
FleetCor well positioned in 2018, says Morgan Stanley
Morgan Stanley analyst Vasundhara Govil believes FleetCor (FLT) remains a "compelling growth story" within payments, as he thinks its organic growth of about 10% is sustainable and views the company as well positioned in 2018. Govil also noted that he prefers FleetCor over Wex (WEX), citing FleetCor's lower exposure to fuel prices, more diversified revenue streams and potential for more M&A driven upside. He raised his price target on FleetCor to $235 from $232 while also raising his price target on Wex to $166 from $159. Govil has an Overweight rating on FleetCor and an Equal Weight rating on Wex.
02/05/18
RHCO
02/05/18
NO CHANGE
Target $240
RHCO
Buy
FleetCor price target raised to $240 from $210 at SunTrust
SunTrust analyst Oscar Turner raised his price target on FleetCor to $240 and kept his Buy rating ahead of Q4 earnings, saying the focus of investors should now shift to organic revenue growth and lead to multiple expansion. The analyst expects the company to sustain its current high-single digit organic revenue growth, supported by a "strong macro environment and sustained momentum in Corporate Payments and Tolls".
07/19/18
MSCO
07/19/18
NO CHANGE
MSCO
Morgan Stanley upgrades Payments and Processing industry to Attractive
Morgan Stanley analyst James Faucette upgraded his view of the Payments and Processing industry to Attractive, citing the firm's U.S. Strategy Team's call for rotation out of Technology and his view that Payments will be seen as an attractive option for investors looking to become more defensive. Investors underappreciate the resilience of consumer spending and Faucette sees the potential for his Payments coverage market-cap weighted earnings growth to accelerate organically to 15% over 2018-2020 from 11% growth over the last three years, he tells investors. In the group, the firm has Overweight ratings on Visa (V), MasterCard (MA), PayPal (PYPL), GreenSky (GSKY), Worldpay (WP) and FleetCor (FLT). Morgan Stanley has Underweight ratings on Western Union (WU) and On Deck Capital (ONDK), having downgraded On Deck this morning.
GPN Global Payments
$118.81

-0.37 (-0.31%)

06/18/18
GSCO
06/18/18
DOWNGRADE
Target $125
GSCO
Neutral
Global Payments downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst James Schneider downgraded Global Payments to Neutral with an unchanged price target of $125. The stock closed Friday down 24c to $117.50. The company's software-led payments strategy, along with accretive acquisitions, should allow for continued "best-in-class growth," Schneider tells investors in a research note. However, he now sees fewer near-term catalysts for shares of Global Payments and expects only modest upside to Street estimates in 2018. As such, the analyst views the stock's current valuation as fair.
08/03/18
CANT
08/03/18
NO CHANGE
Target $136
CANT
Overweight
Global Payments price target raised to $136 from $126 at Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph Foresi raised his price target for Global Payments to $136 following the company's Q2 results and acquisition of AdvancedMD. The analyst continues to believe there is an opportunity for Global Payments to accelerate revenue growth and improve margins through acquisitions. He maintains an Overweight rating on the shares.
07/17/18
WOLF
07/17/18
INITIATION
Target $155
WOLF
Outperform
Global Payments initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated Global Payments with an Outperform and $155 price target.
SQ Square
$68.36

-4.31 (-5.93%)

08/02/18
NEED
08/02/18
NO CHANGE
Target $75
NEED
Buy
Square price target raised to $75 from $65 at Needham
Needham analyst Mayank Tandon raised his price target on Square to $75 and kept his Buy rating after its strong Q2 results. The analyst cites the company's 30% gross payment volume increase, stable transaction margins, and rising operating leverage boosting its adjusted EBITDA. Tandon believes that the growth story in the payments industry remains "open ended".
08/06/18
BUCK
08/06/18
UPGRADE
BUCK
Buy
Square upgraded to Buy from Neutral at Buckingham
08/02/18
STFL
08/02/18
NO CHANGE
Target $76
STFL
Buy
Square price target raised to $76 after earnings at Stifel
Stifel analyst Scott Devitt, who had raised his price target on Square to $72 from $66 earlier in the week ahead of the company's Q2 report, has now increased his target again, to $76 from $72, following the report. Square's adjusted revenue and adjusted EBITDA exceeded the high-end of guidance and consensus forecasts and management raised its FY18 adjusted revenue growth guidance to 55% at the mid-point from 49% previously, he noted. Square's increased investment in key strategic areas should support higher levels of growth over the long term, added Devitt, who keeps a Buy rating on the stock.
08/02/18
MSCO
08/02/18
NO CHANGE
Target $75
MSCO
Equal Weight
Square investments could limit near-term upside, says Morgan Stanley
Morgan Stanley analyst James Faucette said strength in Square's Subscription/Services revenue was key to revenue upside in Q2 and he sees this momentum as likely to continue in the near-term. However, he also believes the market may be over valuing "certain pieces," such as Instant Deposit and Square Capital. The company's upfront investment to pursue new and expanded opportunities could limit the stock's upside in the near-term, said Faucette, who keeps an Equal Weight rating and $75 price target on Square shares.
JAZZ Jazz Pharmaceuticals
$176.07

1.27 (0.73%)

07/16/18
CANT
07/16/18
NO CHANGE
Target $203
CANT
Overweight
Cantor sees 'meaningful upside' in shares of Jazz Pharmaceuticals
Cantor Fitzgerald analyst William Tanner sees "meaningful upside" in shares of Jazz Pharmaceuticals from current levels. The analyst views recent legal developments as positive, "on balance," and thinks any announcement on the business development front "could be a major incremental driver of positive sentiment." He reiterates an Overweight rating on Jazz with a $203 price target.
07/13/18
07/13/18
NO CHANGE
Target $160

Outperform
Evercore ISI says appeals court decision on Xyrem patents a 'non-issue' for Jazz
As previously reported, Evercore ISI analyst Umer Raffat called news that an appeals court found that seven Jazz Pharmaceuticals (JAZZ) patents being challenged by Amneal Pharmaceuticals (AMRX) are invalid a "non-issue," stating that his quick read of today's decision shows it all relates to the REMS patents and the core basis for patent life is the valproate patents. He said the patents that were ruled invalid "are not particularly relevant for Xyrem's patent estate" and he does not find today's ruling "of much significance." Raffat keeps an Outperform rating on Jazz shares, which are down 2% to $175.48 in morning trading.
07/13/18
WELS
07/13/18
NO CHANGE
Target $182
WELS
Outperform
Jazz 'confident' in defending Xyrem in District Court, says Wells Fargo
Following news that the U.S. Court of Appeals for the Federal Circuit affirmed a series of rulings in favor of Amneal Pharmaceuticals (AMRX) that patents owned by Jazz Pharmaceuticals (JAZZ) related to its Xyrem drug are invalid, Wells Fargo analyst David Maris tells investors in a research note that he spoke with Jazz this morning and they said they "feel confident" in defending Xyrem in the District Court should the case go to trial. Additionally, Jazz, which said a trial date has not yet been set, said they have now settled with 8 out of 9 of the District Court challenges. Maris believes the reaction today is "overdone," as Jazz still has a strong portfolio to defend Xyrem and the company has shown a clear willingness to settle.
07/16/18
PIPR
07/16/18
NO CHANGE
Target $211
PIPR
Overweight
Jazz court ruling does not threaten Xyrem durability, says Piper Jaffray
A federal appellate court on Friday affirmed that certain claims surrounding a number of patents covering Jazz Pharmaceuticals' Xyrem REMS program are invalid, Piper Jaffray analyst David Amsellem tells investors in a research note. The analyst would not view the decision as a threat to the durability of Xyrem out to 2023. He continues to believe that Jazz's visibility into earnings growth in the double-digits is high, owing to contribution from newer products. Amsellem believes the company has "significant room for further value creation" and keeps an Overweight rating on Jazz with a $211 price target.
CAKE Cheesecake Factory
$49.69

-0.45 (-0.90%)

08/01/18
SPHN
08/01/18
NO CHANGE
Target $55
SPHN
Equal Weight
Cheesecake Factory SSS beat offset by rising costs, says Stephens
Stephens analyst Will Slabaugh noted that Cheesecake Factory's same-store sales growth in Q2 beat his and consensus estimates, but its earnings missed consensus due to higher medical and legal expenses. While he likes Cheesecake Factory over the long-term, he is waiting for more concrete signs of a recovery and keeps an Equal Weight rating and $55 price target on the shares following the quarterly report.
08/01/18
JPMS
08/01/18
NO CHANGE
Target $59
JPMS
Neutral
Cheesecake Factory Q2 not as bad as it looks, says JPMorgan
JPMorgan analyst John Ivankoe says Cheesecake Factory's Q2 results are not as bad as they look. The headline earnings number included lots of "noise," including 4c from excluded asset impairment and higher group medical insurance and legal costs, which the company said accounts for 14c of downside, Ivankoe tells investors in a post-earnings research note. He raised his price target for Cheesecake Factory shares to $59 from $52 and keeps a Neutral rating on the name.
08/01/18
PIPR
08/01/18
NO CHANGE
Target $61
PIPR
Overweight
Cheesecake Factory earnings selloff a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Nicole Miller Regan recommends using the post-earnings selloff in shares of Cheesecake Factory as a buying opportunity. Casual dining industry same-store sales remain positive and this is generating broad-based investor interest, Regan tells investors in a research note. She believes Cheesecake Factory is well positioned as industry trends continue to improve. The analyst lowered her price target for the shares to $61 from $64 and reiterates an Overweight rating on then name.
07/18/18
GUGG
07/18/18
NO CHANGE
GUGG
Neutral
Cheesecake Factory estimates raised at Guggenheim
Guggenheim analyst Matthew DiFrisco said he views trends from the first week of July being roughly inline with June as a positive indicator for overall demand for the restaurant sector. Following the firm's 500 person survey, he is raising his same-store sales and EPS estimates for Cheesecake Factory, on which he maintains a Neutral rating.
AVGO Broadcom
$217.87

1.63 (0.75%)

07/24/18
ARGS
07/24/18
DOWNGRADE
ARGS
Hold
CA Technologies downgraded to Hold from Buy at Argus
Argus analyst Jim Kelleher downgraded CA Technologies (CA) to Hold from Buy, saying the stock price has risen past his prior price target of $40 and approaching the $44.50 per share bid price from Broadcom (AVGO). The analyst believes that because of its slow growth rate, CA is unlikely to generate a competing bid from other hardware companies looking to diversify their revenue with software assets, even though he still sees room for CA to further grow its earnings in the coming years.
08/01/18
OPCO
08/01/18
NO CHANGE
OPCO
iPhone ASP, guide imply iPX partially offsetting longer replacement cycle, says Oppenheimer
Oppenheimer analyst Rick Schafer believes June Apple's (AAPL) iPhone ASP and the guide imply broader penetration of iPhone X partially offsetting a longer replacement cycle. Within the Apple supply chain, the analyst continues to prefer content increase stories, and consistent track records of execution, helping insulate from demand softness. His top picks in the Apple supply chain are Broadcom (AVGO) and Skyworks (SWKS). Schafer remains sidelined on Cirrus Logic (CRUS) given lack of a near-term content expansion story, as well as on Qorvo (QRVO), as much of the benefit from the expected mid/high-band PAD win in the coming iPhone refresh appears modeled into expectations.
08/01/18
KEYB
08/01/18
NO CHANGE
KEYB
Apple's results positive for supply-chain companies, says KeyBanc
KeyBanc analyst John Vinh views Apple's (AAPL) "solid" results as positive for the company's supply-chain companies Broadcom (AVGO), Cirrus Logic (CRUS), Qorvo (QRVO), Skyworks (SWKS), and Synaptics (SYNA), as results indicate that demand has finally stabilized ahead of the new iPhone ramp. Additionally, lean channel commentary gets him incrementally more positive ahead of the new iPhone ramp, he contends. Vinh's favorite Apple supply-chain names are Broadcom, Qorvo, Skyworks, and Synaptics.
07/25/18
KEYB
07/25/18
NO CHANGE
Target $260
KEYB
Overweight
Broadcom price target lowered to $260 from $325 at KeyBanc
KeyBanc analyst John Vinh lowered his price target for Broadcom (AVGO) to $260 from $325, while reiterating an Overweight rating on the shares. After discussing the acquisition of CA Technologies (CA) with Broadcom's management, the analyst feels more comfortable with the current state of the business and better understand the rationale behind the deal. Vinh believes the selloff is overdone and sees a recovery into earnings given healthy business trends, but he still has concerns about CA and questions regarding management's long-term strategy.
NVDA Nvidia
$251.97

1.35 (0.54%)

07/27/18
JEFF
07/27/18
NO CHANGE
Target $44
JEFF
Underperform
Intel model 'showing signs of stress' despite beat, says Jefferies
While Intel (INTC) last night "beat and raised handily" for the second quarter in a row, the model is "showing signs of stress," Jefferies analyst Mark Lipacis tells investors in a post-earnings research note. The analyst highlights declining gross margins, free cash flow well below earnings, and Increasing competition from Nvidia (NVDA), AMD (AMD) "and perhaps even its own customers." Delays in Intel's 10nm product ramp and process node transitions may translate to a disadvantage to AMD in servers in the second half of 2019, Lipacis contends. He reiterates an Underperform rating on Intel and bumped up his price target for the shares to $44 from $42.
07/23/18
MSCO
07/23/18
NO CHANGE
MSCO
Tariff uncertainty a potential risk to semiconductor demand, says Morgan Stanley
Morgan Stanley analyst Joseph Moore said the firm's quarterly survey of distributors leads him to expect "solid" Q2 results and Q3 guidance from broad-based semiconductor companies this earnings season as demand remains strong. However, the present tariff related uncertainty present a risk for a "demand shock" that could lead to an inventory unwind in the semi supply chain, Moore warns investors. He thinks the potential of further semi stock outperformance is limited at this stage of the cycle, while "even the slightest whiff on the demand front" could lead to a significant decline in stocks, he tells investors. Moore added that he favors companies with more defensive characteristics, such as Analog Devices (ADI), over those with more commodity exposure and lower margins, like Cypress Semiconductor (CY). Other publicly traded companies in the semiconductors space include Micron (MU), AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN). Shares of Micron are down 2.5% in pre-market trading to $53.65.
07/18/18
BNCH
07/18/18
NO CHANGE
Target $120
BNCH
Buy
Mellanox price target raised to $120 from $110 at Benchmark
Benchmark analyst Gary Mobley raised his estimates for Mellanox (MLNX) following what he called "exceptional" Q2 results and second half guidance, stating that he believes the company grow FY19 revenue 10%-15%, versus the current 9% consensus growth forecast. He also continues to see Mellanox as a "prime M&A target" which would be a good strategic fit for Nvidia (NVDA), Marvell (MRVL) or Broadcom (AVGO). Mobley raised his price target on Mellanox shares to $120 and keeps a Buy rating on the stock.
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.
CHGG Chegg
$27.13

-0.84 (-3.00%)

06/21/18
JEFF
06/21/18
DOWNGRADE
Target $30
JEFF
Hold
Jefferies downgrades Chegg with shares up 80% year-to-date
Jefferies analyst Brent Thill downgraded Chegg to Neutral from Buy while raising his price target for the shares to $30 from $27. The stock has returned an "exceptional" 500% over the past two years and is up 80% year-to-date, Thill tells investors in a research note. While the analyst remains "big fundamental fans of the business," he believes the valuation "feels full" at nine times 2019 sales.
06/21/18
JEFF
06/21/18
DOWNGRADE
Target $30
JEFF
Hold
Chegg downgraded to Hold from Buy at Jefferies
Jefferies analyst Brent Thill downgraded Chegg to Hold while raising his price target for the shares to $30 from $27. The analyst cites valuation for the downgrade.
06/22/18
BRRR
06/22/18
NO CHANGE
Target $32
BRRR
Outperform
Chegg price target raised to $32 from $25 at Barrington
Barrington analyst Alexander Paris raised his price target for Chegg to $32 after hosting investor meetings with management. Following the meetings and recent better than expected Q1 results, Paris has increased confidence in management's near- and intermediate-term growth strategies. He views Chegg's international expansion as a "great incremental opportunity" and reiterates an Outperform rating on the name.
07/31/18
LSCM
07/31/18
NO CHANGE
Target $26
LSCM
Hold
Chegg price target raised to $26 from $20 at Lake Street
Lake Street analyst Eric Martinuzzi raised his price target for Chegg to $26 following the company's Q2 results. Like a flywheel, Chegg Services continues to gather momentum, Martinuzzi tells investors in a post-earnings research note. The analyst keeps a Hold rating on the shares.
DXC DXC Technology
$86.40

0.31 (0.36%)

07/13/18
SUSQ
07/13/18
NO CHANGE
Target $125
SUSQ
Positive
DXC Technology worth 'at least $102' in possible split, says Susquehanna
Susquehanna analyst James Friedman kept his Positive rating and $125 price target on DXC Technology, speculating that if the company tried to split the Growth business from its Core, he would value the assets at "at least $102" per share and possibly "much more". The analyst notes that a spin-off for Growth could add at least 20% to its value, and his discussions with CEO Lawrie in the past have suggested that he could split the company, with "one run for growth and the other run for margin."
07/17/18
WOLF
07/17/18
INITIATION
Target $120
WOLF
Outperform
DXC Technology initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated DXC Technology with an Outperform and $120 price target.
05/30/18
RHCO
05/30/18
NO CHANGE
Target $105
RHCO
Buy
DXC Technology price target lowered to $105 from $115 at SunTrust
SunTrust analyst Frank Atkins lowered his price target on DXC Technology to $105 after its in-line Q4 results and reflecting the reduced consensus for revenues and guidance. The analyst keeps his Buy rating however, saying he was "encouraged" by the margin guidance. Longer term, Atkins sees DXC Technology's potential driving "substantial" earnings growth of about 18% while the company continues "optimizing in-house support, reducing real estate footprint, and enhancing operational efficiencies."
06/27/18
JPMS
06/27/18
NO CHANGE
JPMS
Molina's Medicaid solutions sale to DXC negative for Conduent, says JPMorgan
JPMorgan analyst Tien-tsin Huang notes that Molina (MOH) announced its intent to sell its Medicaid Management System to DXC Technology (DXC) for a total purchase price of $220M. The analyst is encouraged with the deal as it strengthens DXC's positioning in the Medicare and Medicaid implementation segment, as he anticipates the combined company to serve 24 U.S. states/regions. However, Huang views the deal to be competitively negative for Conduent (CNDT), who implements MMIS for 10 states/regions in the U.S. The analyst reiterates an Overweight rating on DXC's shares and a Neutral rating on Conduent.
MDSO Medidata
$76.16

0.13 (0.17%)

07/25/18
NEED
07/25/18
DOWNGRADE
NEED
Hold
Medidata downgraded to Hold at Needham on disappointing Q2 results
As noted earlier, Needham analyst Scott Berg downgraded Medidata to Hold from Buy following its "disappointing" Q2 results and guidance, causing him to lower his organic subscription revenue growth expectations. The analyst points to billings and deferred revenue coming in "substantially below historical trends", suggesting that bookings were "either delayed or lost". Berg adds that the magnitude of those deviations was substantial enough to reset his growth expectations to mid-teens range.
07/25/18
PIPR
07/25/18
NO CHANGE
Target $96
PIPR
Overweight
Medidata selloff yesterday a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Sean Wieland recommends using the post-earnings selloff yesterday in shares of Medidata Solutions as a buying opportunity. The analyst views the pullback as overdone and reiterates an Overweight rating on the stock with a slightly reduced price target of $96. Contract timing and the addition of Shyft will accelerate backlog and subscription revenue in the second half of 2018 and continue into 2019, Wieland tells investors in a research note.
07/24/18
KEYB
07/24/18
NO CHANGE
Target $88
KEYB
Overweight
Medidata backlog growth a better forward indicator than fee growth, says KeyBanc
KeyBanc analyst Donald Hooker reiterated his Overweight rating on Medidata despite the company reporting weaker than expected Q2 subscription fee growth, which he attributes to contract timing in newer product categories. Hooker, who points to the Q2 backlog growth of about 18% as a better leading indicator of forward growth, keeps an $88 price target on Medidata shares.
07/25/18
NEED
07/25/18
DOWNGRADE
NEED
Hold
Medidata downgraded to Hold from Buy at Needham
PS Pluralsight
$26.50

-0.31 (-1.16%)

08/02/18
08/02/18
UPGRADE
Target $31

Overweight
Pluralsight upgraded to Overweight on revenue momentum at Morgan Stanley
As previously reported, Morgan Stanley analyst Brian Essex upgraded Pluralsight to Overweight from Equal Weight after the company showed "much better than expected" revenue momentum in Q2. Pluralsight remains less than 5% penetrated into its installed base, giving it a meaningful opportunity, and Essex now sees its growth being more durable and an inflection to profitability coming sooner than he'd previously expected. He raised his estimates on Pluralsight in the wake of the Q2 report and increased his price target on the stock to $31 from $26.
06/11/18
RAJA
06/11/18
INITIATION
Target $30
RAJA
Outperform
Pluralsight initiated with an Outperform at Raymond James
Raymond James analyst William Wallace initiated Pluralsight with an Outperform and $30 price target. Wallace believes Pluralsight's solid competitive positioning, compelling value proposition, and monetization of recent g0-to-market investments will lead to faster than expected revenue growth over the next several years.
08/02/18
MSCO
08/02/18
UPGRADE
MSCO
Overweight
Pluralsight upgraded to Overweight from Equal Weight at Morgan Stanley
08/02/18
JPMS
08/02/18
NO CHANGE
Target $37
JPMS
Overweight
Pluralsight price target raised to $37 from $33 at JPMorgan
JPMorgan analyst Sterling Auty raised his price target for Pluralsight to $37 saying the company's first quarter post its initial public offering brought a "solid beat" and increased outlook. The analyst believes the quarter should act as a catalyst for the stock and keeps an Overweight rating on the name.
RP RealPage
$56.65

-1.2 (-2.07%)

08/03/18
JPMS
08/03/18
NO CHANGE
Target $76
JPMS
Overweight
RealPage remains a favorite name after 'impressive' results at JPMorgan
JPMorgan analyst Sterling Auty says RealPage remains one of his favorite names following the company's "impressive" Q2 results. The quarter sets RealPage up to deliver upon its fiscal long-range targets for revenue a year ahead of time, Auty tells investors in a research note. Accelerating organic revenue growth combined with recent acquisitions puts the company on target to deliver north of $1B of revenue in 2019, the analyst adds. He reiterates an Overweight rating on RealPage with a $76 price target.
06/21/18
06/21/18
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. Alcoa (AA) initiated with a Neutral at B. Riley FBR while Century Aluminum (CENX) was initiated with a Buy. 2. Westlake Chemical (WLK) initiated with an Outperform at Bernstein while Westlake Chemical Partners (WLKP) was initiated with a Market Perform. 3. RealPage (RP) initiated with an Overweight at JPMorgan. 4. JBG Smith Properties (JBGS) initiated with a Sell at Stifel. 5. Kimberly-Clark (KMB) initiated with an Underweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/03/18
RBCM
08/03/18
NO CHANGE
Target $64
RBCM
Sector Perform
RealPage price target raised to $64 from $59 at RBC Capital
RBC Capital analyst Matthew Hedberg raised his price target on RealPage to $64 and kept his Sector Perform rating after its Q2 earnings that showed "improved consistency". The analyst adds that the company's organic growth is set to accelerate into 2018-end to rates not seen since 2015, with more impact felt from its strategy, investments and competitive positioning.
06/21/18
JPMS
06/21/18
INITIATION
Target $76
JPMS
Overweight
RealPage initiated with an Overweight at JPMorgan
JPMorgan analyst Sterling Auty started RealPage with an Overweight rating and $76 price target. The analyst believes the company is "successfully combining solid organic growth with an attractive acquisition strategy" and expanding margins in the rental real estate market. He views RealPage as one of the few reasonably valued software stocks in the current market.
SHOP Shopify
$141.79

-2.19 (-1.52%)

08/01/18
LEHM
08/01/18
NO CHANGE
Target $145
LEHM
Equal Weight
Shopify price target lowered to $145 from $155 at Barclays
Barclays analyst Deepak Mathivanan lowered his price target for Shopify to $145 following the company's Q2 results. Gross merchandise volume growth in the quarter decelerated by eight points to up 56%, Mathivanan tells investors in a post-earnings research note titled "Two Out Of Three On Key Metrics." Despite the post-earnings selloff, the stock's valuation is still at a significant premium to peer group, the analyst adds. He keeps an Equal Weight rating on Shopify.
08/01/18
ROTH
08/01/18
NO CHANGE
Target $180
ROTH
Buy
Shopify price target lowered to $180 from $192 at Roth Capital
Roth Capital analyst Darren Aftahi lowered his price target for Shopify to $180 from $192, citing some metric deceleration despite Q2 beat and raise. The analyst reiterates a Buy rating on the shares.
08/01/18
08/01/18
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. Shopify (SHOP) downgraded to Neutral from Overweight at Piper Jaffray with analyst Michael Olson saying that Shopify's Q2 was "good, but not good enough" with monthly recurring revenue below investor expectations with a deceleration from 57% to 49% year-over-year growth between Q1 and Q2. 2. Horizon Technology (HRZN) downgraded to Sell from Neutral at Compass Point. 3. Brixmor (BRX) downgraded to Hold from Buy at Sandler O'Neill. 4. Cytokinetics (CYTK) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Matthew Harrison saying management attributed the delay to the availability and uptake of Radicava,a new treatment for ALS. 5. Incyte (INCY) downgraded to Market Perform from Outperform at JMP Securities with analyst Liisa Bayko saying Q2 results "did not disappoint," but she no longer thinks her prior assumption of 10% annual price increases on Jakafi is likely given the political environment and recent California transparency law. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/01/18
08/01/18
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. JEFFERIES UPGRADES DROPBOX TO BUY: Jefferies analyst John DiFucci upgraded Dropbox (DBX) to Buy from Hold with an unchanged price target of $32. The analyst is not making a call on the Q2 results, which come on August 9. Rather, the upgrade is based "entirely on valuation," he stated. Dropbox is up 4.7% in late morning trading. JEFFERIES UPGRADES PAPA JOHN'S: Jefferies analyst Alexander Slagle upgraded Papa John's (PZZA) to Buy from Hold and raised his price target for the shares to $58 from $52. The stock, down 50% from highs, now reflects the likelihood that fundamentals will get worse before improving, Slagle said. After reviewing the company's potential path to recovery and possible strategic actions that could create shareholder value, the analyst has a bull case of $75 per share. He thinks this outweighs the bear case, or downside risk, of $35 per share. SAREPTA UPGRADED AFTER PULLBACK: Morgan Stanley analyst Matthew Harrison upgraded Sarepta Therapeutics (SRPT) to Overweight from Equal Weight, noting that the stock has given up much of the gains it saw when its initial DMD gene therapy data was announced. He sees the pullback as an opportunity to own the stock near pre-DMD gene therapy levels without taking the binary risk. He doesn't think a major bear case has emerged on the prospects for the company's DMD gene therapy program and he sees major catalysts in the second half of this year that he believes the market is missing. Harrison has a $163 price target on Sarepta shares. PIPER CUTS SHOPIFY TO NEUTRAL: Piper Jaffray analyst Michael Olson downgraded Shopify (SHOP) to Neutral from Overweight and lowered his price target to $145 from $155, saying that Shopify's Q2 was "good, but not good enough" with monthly recurring revenue below investor expectations. While Olson said Shopify is performing well, he believes their performance is mostly reflected in the stock's current valuation. PIPER RECOMMENDS BIOGEN AFTER MANAGEMENT MEETING: After hosting investor meetings with Biogen (BIIB) investor relations this week, Piper Jaffray analyst Christopher Raymond came away feeling like the "all-important" high-dose APOE4 subset analysis of the BAN2401 results "may be provided sooner than later." If shown to have little impact on the overall placebo-adjusted ADCOMS benefit, this should be an important event, Raymond said. Coupling this with "continued solid commercial momentum and a host of other value-enhancing catalysts," the analyst continues to like the risk/reward on Biogen. He kept an Overweight rating on shares with a $400 price target.
TMUS T-Mobile
$61.55

-0.65 (-1.05%)

06/27/18
06/27/18
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. Zimmer Biomet (ZBH) initiated with an Underperform at Bernstein. 2. Abeona Therapeutics (ABEO) initiated with a Buy at B. Riley FBR. 3. Johnson & Johnson (JNJ) initiated with a Market Perform at Bernstein. 4. T-Mobile (TMUS) initiated with an Overweight at Barclays. 5. Scynexis (SCYX) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/28/18
06/28/18
UPGRADE
Target $77

Outperform
T-Mobile upgraded to Outperform at Wells Fargo
As previously reported, Wells Fargo analyst Jennifer Fritzsche upgraded T-Mobile (TMUS) to Outperform from Market Perform and raised her price target on the shares to $77 from $65. Recent conversations with some of his DC contacts have made him more optimistic that a deal to merge with Sprint (S) could be approved. In either scenario, however, the analyst believes T-Mobile's valuation is "quite compelling" at current levels and sees 30% upside with or without Sprint.
06/27/18
WELS
06/27/18
UPGRADE
WELS
Outperform
T-Mobile upgraded to Outperform from Market Perform at Wells Fargo
06/28/18
06/28/18
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. Air Transport Services (ATSG) upgraded to Buy from Hold at Stifel with analyst David Ross saying shares are attractive at current levels given long-term growth prospects. 2. T-Mobile (TMUS) upgraded to Outperform from Market Perform at Wells Fargo with analyst Jennifer Fritzsche stating that recent conversations with some of his DC contacts have made him more optimistic that a deal to merge with Sprint (S) could be approved. 3. Talend (TLND) upgraded to Buy from Neutral at with analyst Tyler Radke saying a survey of Chief Data Officers shows "strong spending signals" while the company's competitive backdrop is favorable amid "increasing cloud tailwinds". 4. Regions Financial (RF) upgraded to Neutral from Underperform at Baird with analyst David George citing the recent pullback, which he thinks has made the valuation more reasonable. 5. Twilio (TWLO) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the pullback in the stock price has created a more favorable entry point. 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

GOOG

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ENTG

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MGTA

Magenta Therapeutics

$18.77

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Magenta Therapeutics rating change at Goldman Sachs »

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S&P 500

$0.00

(0.00%)

03/08/13
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03/06/13
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BABA

Alibaba

$175.60

-5.785 (-3.19%)

12:37
03/24/19
03/24
12:37
03/24/19
12:37
Periodicals
Alibaba acquires Israeli AR startup, Bloomberg reports »

Alibaba has acquired…

03/08/13
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03/06/13
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BAYRY

Bayer

$0.00

(0.00%)

12:34
03/24/19
03/24
12:34
03/24/19
12:34
Periodicals
Bayer CEO says team retains backing if supervisory board, Reuters says »

Bayer's management…

03/08/13
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  • 25

    Mar

AAL

American Airlines

$30.60

-0.83 (-2.64%)

, BA

Boeing

$362.15

-10.54 (-2.83%)

12:31
03/24/19
03/24
12:31
03/24/19
12:31
Periodicals
American Airlines extends Boeing 737 Max flight cancellations, Reuters says »

American Airlines (AAL)…

AAL

American Airlines

$30.60

-0.83 (-2.64%)

BA

Boeing

$362.15

-10.54 (-2.83%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 28

    May

UBER

Uber

$0.00

(0.00%)

12:27
03/24/19
03/24
12:27
03/24/19
12:27
Periodicals
Uber to announce $3.1B deal to buy Careem, Bloomberg says »

Uber is set to announce a…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
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RDUS

Radius Health

$18.92

-0.39 (-2.02%)

12:17
03/24/19
03/24
12:17
03/24/19
12:17
Hot Stocks
Radius presents analysis from Phase 3 ACTIVE trial, data from TYMLOS studies »

Radius Health presented a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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IIPR

Innovative Industrial Properties

$90.00

-0.175 (-0.19%)

13:09
03/23/19
03/23
13:09
03/23/19
13:09
Periodicals
Innovative Industrial Properties flying high, Barron's says »

American cannabis…

03/08/13
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CAT

Caterpillar

$129.80

-4.1 (-3.06%)

13:05
03/23/19
03/23
13:05
03/23/19
13:05
Periodicals
Investors missing how far Caterpillar dug into costs, Barron's says »

Caterpillar has made…

03/08/13
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03/08/13
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  • 12

    Jun

MO

Altria Group

$55.90

-0.23 (-0.41%)

12:59
03/23/19
03/23
12:59
03/23/19
12:59
Periodicals
E-cigarettes not helping people quit smoking, Barron's says »

According to the CDC,…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 16

    May

MAN

Manpower

$80.83

-5.02 (-5.85%)

, SABR

Sabre

$21.02

-0.62 (-2.87%)

12:51
03/23/19
03/23
12:51
03/23/19
12:51
Periodicals
Sabre, j2 Global among mid-cap stocks with sustainable dividends, Barron's says »

When it comes to…

MAN

Manpower

$80.83

-5.02 (-5.85%)

SABR

Sabre

$21.02

-0.62 (-2.87%)

WBS

Webster Financial

$48.90

-3.03 (-5.83%)

NATI

National Instruments

$44.16

-1.28 (-2.82%)

JCOM

j2 Global

$84.63

-1.95 (-2.25%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 25

    Mar

  • 18

    Apr

  • 23

    Apr

  • 25

    Apr

  • 25

    Apr

  • 10

    May

MSFT

Microsoft

$117.05

-3.6 (-2.98%)

, GME

GameStop

$10.57

0.03 (0.28%)

12:47
03/23/19
03/23
12:47
03/23/19
12:47
Periodicals
Gaming meets the cloud as investors scramble to catch up, Barron's says »

The cloud will eventually…

MSFT

Microsoft

$117.05

-3.6 (-2.98%)

GME

GameStop

$10.57

0.03 (0.28%)

AMD

AMD

$26.43

-1.47 (-5.27%)

SNE

Sony

$42.09

-1.915 (-4.35%)

GOOGL

Alphabet Class A

$1,206.00

-30.38 (-2.46%)

GOOG

Alphabet

$1,204.85

-26.86 (-2.18%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 27

    Mar

  • 29

    Mar

  • 02

    Apr

  • 04

    Apr

  • 16

    Apr

  • 29

    Apr

  • 29

    Apr

  • 27

    Oct

LYFT

Lyft

$0.00

(0.00%)

12:42
03/23/19
03/23
12:42
03/23/19
12:42
Periodicals
Investors should avoid booking ride when Lyft goes public, Barron's says »

Lyft will soon be going…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 25

    Mar

  • 26

    Mar

  • 27

    Mar

  • 28

    Mar

  • 29

    Mar

DIS

Disney

$108.30

-0.36 (-0.33%)

, AAPL

Apple

$191.11

-3.96 (-2.03%)

12:38
03/23/19
03/23
12:38
03/23/19
12:38
Periodicals
Streaming revolution too complicated, Barron's says »

The streaming revolution…

DIS

Disney

$108.30

-0.36 (-0.33%)

AAPL

Apple

$191.11

-3.96 (-2.03%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$39.56

-0.49 (-1.22%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 25

    Mar

  • 11

    Apr

  • 25

    Apr

  • 08

    May

FB

Facebook

$164.25

-1.83 (-1.10%)

, GOOG

Alphabet

$1,204.85

-26.86 (-2.18%)

08:18
03/23/19
03/23
08:18
03/23/19
08:18
On The Fly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

FB

Facebook

$164.25

-1.83 (-1.10%)

GOOG

Alphabet

$1,204.85

-26.86 (-2.18%)

GOOGL

Alphabet Class A

$1,206.00

-30.38 (-2.46%)

TWTR

Twitter

$32.98

0.37 (1.13%)

GM

General Motors

$36.51

-0.84 (-2.25%)

AMD

AMD

$26.43

-1.47 (-5.27%)

INTC

Intel

$53.20

-1.41 (-2.58%)

MRVL

Marvell

$19.69

-1.11 (-5.34%)

MCHP

Microchip

$85.50

-1.83 (-2.10%)

MU

Micron

$41.68

-2.32 (-5.27%)

NVDA

Nvidia

$177.40

-6.52 (-3.55%)

QCOM

Qualcomm

$56.71

-1.05 (-1.82%)

TXN

Texas Instruments

$109.51

-2.68 (-2.39%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 25

    Mar

  • 27

    Mar

  • 27

    Mar

  • 03

    Apr

  • 04

    Apr

  • 23

    Apr

  • 25

    Apr

  • 25

    Apr

  • 29

    Apr

  • 29

    Apr

  • 30

    Apr

  • 01

    May

  • 28

    May

  • 04

    Jun

  • 05

    Jun

  • 27

    Oct

21:30
03/22/19
03/22
21:30
03/22/19
21:30
General news
Breaking General news story  »

Chicago Federal Reserve…

21:15
03/22/19
03/22
21:15
03/22/19
21:15
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Breaking General news story  »

Atlanta Federal Reserve…

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