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SEAS

SeaWorld

$25.40

0.77 (3.13%)

, ALNY

Alnylam

$94.47

1.3 (1.40%)

10:16
08/07/18
08/07
10:16
08/07/18
10:16

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. SeaWorld (SEAS) upgraded to Neutral from Underperform at Macquarie with analyst Matthew Brooks saying management is executing well, 1H 2018 attendance growth was impressive, and a new 2020 EBITDA goal heading into a seasonally strong period changes is cautious thesis. 2. Alnylam (ALNY) upgraded to Buy from Hold at Stifel with analyst Paul Matteis citing a series of upcoming, likely positive pipeline events for givosiran, lumasiran and ALN-TTRsc02 along with his confidence in Alnylam's ability to have a dominant position in the TTR amyloidosis market over the longer-term. 3. NeoPhotonics (NPTN) upgraded to Buy from Neutral at B. Riley FBR with analyst Dave Kang saying he sees improving fundamentals and increased his estimates following the company's Q2 results. 4. Illumina (ILMN) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Steve Beuchaw saying his prior thesis overestimated the impact of new products such as NovaSeq on utilization of the legacy installed base and failed to value critical new markets. 5. MasTec (MTZ) upgraded to Outperform from Neutral at Baird with analyst Andrew Wittmann saying concerns of weak cash flow and the MVP project work stoppage have already been priced into the stock and now offer a potential catalyst for the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

SEAS

SeaWorld

$25.40

0.77 (3.13%)

ALNY

Alnylam

$94.47

1.3 (1.40%)

NPTN

NeoPhotonics

$8.30

1.44 (20.99%)

ILMN

Illumina

$339.99

7.84 (2.36%)

MTZ

MasTec

$47.00

0.55 (1.18%)

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SEAS SeaWorld
$25.40

0.77 (3.13%)

08/07/18
RHCO
08/07/18
NO CHANGE
Target $30
RHCO
Buy
SeaWorld price target raised to $30 from $20 at SunTrust
SunTrust analyst Michael Swartz raised his price target on SeaWorld to $30 and kept his Buy rating after its "strong" Q2 results and continued momentum seen in Q3. Swartz says the stock represents a "compelling" turnaround story, with benefits coming from its focus on on pricing and marketing, leaner costs, and an optimized capital allocation program. The analyst also cites the company's improving attendance momentum from the past two quarters - around 8% through June - being carried into Q3, with month-to-date July attendance rising by about 900K visitors from last year.
08/07/18
RILY
08/07/18
NO CHANGE
Target $26
RILY
Neutral
SeaWorld price target raised to $26 from $17 at B. Riley FBR
B. Riley FBR analyst Barton Crockett raised his price target for SeaWorld Entertainment to $26 citing "much greater cost controls" than he expected. Further, the analyst views the company's 2020 adjusted EBITDA guidance as "surprisingly bold." He keeps a Neutral rating on SeaWorld shares.
08/07/18
08/07/18
UPGRADE
Target $26

Neutral
SeaWorld upgraded to Neutral at Macquarie
As previously reported, Macquarie upgraded SeaWorld to Neutral from Underperform and increased its price target to $26 from $10 following the strong Q2 report. Analyst Matthew Brooks said management is executing well, 1H 2018 attendance growth was impressive, and a new 2020 EBITDA goal heading into a seasonally strong period changes is cautious thesis.
08/07/18
WEDB
08/07/18
NO CHANGE
Target $24
WEDB
Neutral
SeaWorld price target raised to $24 from $16.50 at Wedbush
Wedbush analyst James Hardiman raised his price target for SeaWorld to $24 from $16.50 on a "stellar" 1H and bold 2020 targets. However, the analyst reiterates a Neutral rating on the shares as he continues to have concerns about mounting competitive pressures on the horizon for 2019 and beyond.
ALNY Alnylam
$94.47

1.3 (1.40%)

08/07/18
08/07/18
UPGRADE
Target $125

Buy
Alnylam upgraded to Buy with $125 price target at Stifel
As previously reported, Stifel transferred coverage of Alnylam to analyst Paul Matteis, who set a Buy rating and $125 price target on the shares, up from the firm's prior Hold rating. He cites a series of upcoming, likely positive pipeline events for givosiran, lumasiran and ALN-TTRsc02 along with his confidence in Alnylam's ability to have a dominant position in the TTR amyloidosis market over the longer-term.
08/06/18
STFL
08/06/18
UPGRADE
STFL
Buy
Alnylam upgraded to Buy from Hold at Stifel
08/03/18
PIPR
08/03/18
NO CHANGE
Target $160
PIPR
Overweight
Piper sees FDA approval for Alnylam August 11 action date
Piper Jaffray analyst Edward Tenthoff is encouraged by the "broad opinion" from the U.K.'s Medicines and Healthcare Products Regulatory Agency for hATTR amyloidosis. The analyst continues to expect FDA approval of Onpattro to treat hATTR amyloidosis by next Saturday's August 11 action date. Tenthoff reiterates an Overweight rating on Alnylam Pharmaceuticals with a $160 price target.
07/27/18
PIPR
07/27/18
NO CHANGE
Target $160
PIPR
Overweight
Piper Jaffray sees earlier EU approval of Alnylam's patisiran after CHMP nod
After the CHMP adopted a positive opinion for Alnylam's patisiran to treat hereditary transthyretin-mediated amyloidosis patients with Stage 1 or 2 polyneuropathy, Piper Jaffray analyst Edward Tenthoff said he now expects the drug to receive EMA approval in the coming months, which is earlier than he'd modeled. While the CHMP opinion is narrower than he expected, he is not surprised given the decision for Tegsedi a few weeks back, Tenthoff said. The analyst, who expects FDA approval of patisiran by the August 11 PDUFA date, keeps an Overweight rating and $160 price target on Alnylam.
NPTN NeoPhotonics
$8.30

1.44 (20.99%)

08/07/18
RILY
08/07/18
UPGRADE
Target $10
RILY
Buy
NeoPhotonics upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Dave Kang upgraded NeoPhotonics to Buy and raised his price target for the shares to $10 from $6.50. The analyst sees improving fundamentals and increased his estimates following the company's Q2 results.
04/25/18
NEED
04/25/18
NO CHANGE
NEED
Full ban of sales to Huawei 'highly improbable,' says Needham
Needham analysts Alex Henderson and N. Quinn Bolton said they sees the chances of an outright ban of sales to Huawei as "extremely low," adding that it is their understanding the probe into Huawei has been ongoing for the last two years while noting that the ZTE probe took over five years to complete. The ironic impact of any escalation in trade tension could be an increase in demand from Huawei to build an inventory buffer should there be a supply disruption, added the analysts, who also say they would not be surprised to see a trade agreement with China include a resolution of the ZTE (ZTCOY) ban and possibly an agreement on the scope of action against Huawei.
05/21/18
NEED
05/21/18
NO CHANGE
NEED
Oclaro filing hints NeoPhotonics may have started sale process, says Needham
Needham analyst Alex Henderson said the S-4 filed by Lumentum (LITE) related to its deal to acquire Oclaro (OCLR) shows that the latter looked to make an acquisition and that company rejected the offer as insufficient but has "started a sell process." Henderson believes this unidentified company is most likely NeoPhotonics (NPTN), he tells investors. He also noted that the S-4 shows another bidder other than Lumentum offered $9 per share in cash for Oclaro, which he believes is likely Finisar (FNSR), adding that "this potential Oclaro acquirer would likely be interested in NeoPhotonics, in our opinion."
07/18/18
PIPR
07/18/18
NO CHANGE
PIPR
Piper 'incrementally more upbeat' on Optical sector into earnings
Piper Jaffray analyst Troy Jensen is "incrementally more upbeat" on the Optical sector and believes investors "need to revisit the group" ahead of the June quarter earnings results. The set up for traditional optical component suppliers has improved with the industry now five quarters into the correction that started in March 2017, Jensen tells investors in a research note. This has created easy comps while growth rates should accelerate in the second half of 2018, the analyst adds. His favorite Overweight-rated names are Lumentum (LITE), II-VI (IIVI) and Fabrinet (FN). Jensen remains Neutral on Applied Optoelectronics (AAOI), Acacia Communications (ACIA), Infinera (INFN), NeoPhotonics (NPTN) and Oclaro (OCLR).
ILMN Illumina
$339.99

7.84 (2.36%)

08/07/18
MSCO
08/07/18
UPGRADE
MSCO
Equal Weight
Illumina upgraded to Equal Weight from Underweight at Morgan Stanley
08/07/18
08/07/18
UPGRADE
Target $320

Equal Weight
Illumina upgraded to Equal Weight on broadening support at Morgan Stanley
As previously reported, Morgan Stanley analyst Steve Beuchaw upgraded Illumina to Equal Weight from Underweight, admitting that his prior thesis overestimated the impact of new products such as NovaSeq on utilization of the legacy installed base and failed to value critical new markets. He now sees it as clear that broadening support for sequencing applications across faster-growing existing markets and into emerging markets de-risks the long-term outlook, Beuchaw tells investors. He raised his price target on Illumina shares to $320 from $210, stating that he sees a path to $40B in sales by 2040.
07/31/18
DBAB
07/31/18
NO CHANGE
Target $330
DBAB
Buy
Illumina price target raised to $330 from $280 at Deutsche Bank
Deutsche Bank analyst Dan Leonard raised his price target for Illumina to $330 saying the "strong beat" in Q2 on stronger NovaSeq demand supports his thesis. The analyst sees upside for estimates over the next 6-12 months and reiterates a Buy rating on the shares.
07/31/18
ADAM
07/31/18
NO CHANGE
Target $340
ADAM
Buy
Illumina Q2 beat was 'massive' and broad-based, says Canaccord
Canaccord analyst Mark Massaro said Illumina delivered outstanding Q2 results with a broad-based beat. The analyst said the major beat and raised guidance keeps the stock as a must own for 2018. He now sees a clear path to over $4B in revenues by 2020. Massaro reiterated his Buy rating and raised his price target to $340 from $330 on Illumina shares.
MTZ MasTec
$47.00

0.55 (1.18%)

03/23/18
ADAM
03/23/18
NO CHANGE
Target $65
ADAM
Buy
MasTec named 'top mid-cap idea' at Canaccord
Canaccord analyst Bobby Burleson reiterated a Buy rating and $65 price target on MasTec, calling the stock his top mid-cap idea. In a research note to investors, Burleson said he has "high conviction" in MasTec's ability to deliver upside to estimates, adding that backlog momentum is "healthy" across multiple segments, and believes his assumptions for margins for Oil & Gas and revenues for Communications may prove conservative. The analyst believes demand remains "robust" and MasTec is in a good position to capture additional large scale work going forward, despite pipeline visibility that has been clouded by a "reluctance of owners to publicize future potential projects."
08/07/18
BARD
08/07/18
UPGRADE
Target $53
BARD
Outperform
MasTec upgraded to Outperform at Baird
As reported previously, Baird analyst Andrew Wittmann upgraded MasTec to Outperform from Neutral and designated it as a Fresh Pick. The analyst said concerns of weak cash flow and the MVP project work stoppage have already been priced into the stock and now offer a potential catalyst for the shares. He sees solid near-term fundamentals and sees the risk/reward better below $50 a shares. Wittmann has a $53 price target on MasTec.
06/22/18
SBSH
06/22/18
NO CHANGE
SBSH
Buy
MasTec remains a favored E&C name at Citi
In a research note titled "Buy the Inflection," Citi analyst Andrew Kaplowitz says MasTec remains one of his favorite Engineering & Construction names. Despite visibility across all four of its businesses, MasTec shares continue to trade at a 7% discount to their historical 5-year average, Kaplowitz tells investors in a research note after spending time with management. If the company can prove that the handoff of growth from oil and gas to communications is happening and that cash flow concerns are only timing related, MasTec will be one of the few stories in E&C with both multiple expansion and earnings revision upside, the analyst contends. He keeps a Buy rating on the shares.
08/07/18
BARD
08/07/18
UPGRADE
BARD
Outperform
MasTec upgraded to Outperform from Neutral at Baird

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