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DIS

Disney

$117.02

1.05 (0.91%)

, PXD

Pioneer Natural

$187.43

1.29 (0.69%)

13:29
08/07/18
08/07
13:29
08/07/18
13:29

Notable companies reporting after market close

Notable companies reporting after the market close, with earnings consensus, include Walt Disney (DIS), consensus $1.95... Pioneer Natural (PXD), consensus $1.49... DXC Technology (DXC), consensus $1.75... Continental Resources (CLR), consensus 71c... Plains All American Pipeline (PAA), consensus 23c... Snap (SNAP), consensus (17c)... International Flavors & Fragrances (IFF), consensus $1.59... Match Group (MTCH), consensus 35c... Parsley Energy (PE), consensus 40c... Wendy's (WEN), consensus 16c... Avis Budget (CAR), consensus 57c... Shutterfly (SFLY), consensus (33c)... LendingClub (LC), consensus 2c... 3D Systems (DDD), consensus 1c... Papa John's (PZZA), consensus 54c... Fossil Group (FOSL), consensus (57c)... Infinera (INFN), consensus (4c)... MaxLinear (MXL), consensus 31c... Applied Optoelectronics (AAOI), consensus 45c.

DIS

Disney

$117.02

1.05 (0.91%)

PXD

Pioneer Natural

$187.43

1.29 (0.69%)

DXC

DXC Technology

$87.11

0.22 (0.25%)

CLR

Continental Resources

$62.70

-0.04 (-0.06%)

PAA

Plains All American

$25.21

-0.63 (-2.44%)

SNAP

Snap

$13.33

0.28 (2.15%)

IFF

International Flavors

$135.09

1.085 (0.81%)

MTCH

Match Group

$38.53

0.15 (0.39%)

PE

Parsley Energy

$31.80

0.43 (1.37%)

WEN

Wendy's

$17.05

-0.02 (-0.12%)

CAR

Avis Budget

$38.09

2.32 (6.49%)

SFLY

Shutterfly

$83.76

0.26 (0.31%)

LC

LendingClub

$4.10

0.14 (3.54%)

DDD

3D Systems

$13.47

0.12 (0.90%)

PZZA

Papa John's

$41.62

-0.68 (-1.61%)

FOSL

Fossil

$25.79

-2.84 (-9.92%)

INFN

Infinera

$8.75

0.2 (2.34%)

MXL

MaxLinear

$17.85

0.54 (3.12%)

AAOI

Applied Optoelectronics

$37.17

-1.77 (-4.55%)

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DIS Disney
$117.02

1.05 (0.91%)

07/13/18
LOOP
07/13/18
NO CHANGE
Target $125
LOOP
Buy
Disney price target lowered to $125 from $130 at Loop Capital
Loop Capital analyst Alan Gould lowered his price target on Disney (DIS) to $125, saying the bidding process for 21st Century Fox (FOXA) and Sky (SKYAY) could see another increase by the company to low $40s per share and up to GBP 15 per share respectively. Gould believes that Disney will end up acquiring both assets, with associated costs lowering its EPS by 18c per share. Longer term, the analyst keeps his Buy rating on Disney, noting that despite its premium valuation, it has "carried an even higher multiple on a similar mid-teens EPS growth rate".
07/20/18
UBSW
07/20/18
DOWNGRADE
Target $50
UBSW
Neutral
21st Century Fox downgraded to Neutral from Buy at UBS
UBS analyst John Hodulik downgraded 21st Century Fox (FOXA) after Comcast (CMCSA) conceded to Disney (DIS) regarding an acquisition. Hodulik raised his price target to $50 from $48 on 21st Century Fox shares.
07/13/18
BERN
07/13/18
NO CHANGE
BERN
Bernstein 'not so sure' Comcast will give up on Fox assets
Bernstein analyst Todd Juenger said that it appears that the market is starting to believe Comcast (CMCSA) will give up on its bid to buy assets from 21st Century Fox (FOXA) and focus on Sky (SKYAY), but he said he is "not so sure" that is the case after only one counter from Disney (DIS). He does not believe Comcast would put forth a $35 bid unless it was prepared to bid up to near $45 per share, Juenger tells investors. If Comcast ups its bid, it either wins Fox at a high price or Disney is forced to pay more, which both seem better than giving up to him, Juenger stated. In any case, the "winner" will be left with increased leverage on a cyclical business late in the cycle at a time when it needs to invest significantly to build its direct-to-consumer business, added Juenger.
07/17/18
RHCO
07/17/18
NO CHANGE
Target $415
RHCO
Hold
Netflix facing risks of increasing competition, says SunTrust
SunTrust analyst Matthew Thornton keeps his Hold rating and $415 price target on Netflix (NFLX) after its Q2 subscriber growth miss while discussing some of the key risks faced by the company. The analyst notes that Netflix could struggle with raising its monthly rates in the environment increasing competition, as Disney (DIS) prepares to launch its own subscription video on demand, SVOD, service in 2019 amid the proliferation of bundles that also include high-demand live sports. Thornton further notes that given a bigger HBO budget under AT&T (T) and the launch/bundling of more video content at Apple (AAPL), the ability of Netflix to raise rates may be more challenging than in recent years.
PXD Pioneer Natural
$187.43

1.29 (0.69%)

07/24/18
MZHO
07/24/18
INITIATION
Target $173
MZHO
Buy
Mizuho names 'Apple of oil' EOG top pick in Oil & Gas sector
Mizuho analyst Paul Sankey last night initiated 10 names in the Global Oil & Gas group with five buys, four neutrals and one underperform. He also maintained a Buy rating on Occidental Petroleum (OXY) and Neutral rating on ConocoPhillips (COP). The analyst put Buy ratings on EOG Resources (EOG), his top pick in the group, Anadarko Petroleum (APC), Pioneer Natural Resources (PXD), Noble Energy (NBL) and Suncor (SU). Sankey calls EOG the Apple (AAPL) of oil. The company has been a pioneer in unconventional oil development in the U.S. and its technology-driven, innovation-focused approach will continue to drive peer-leading rates of return and oil growth, the analyst contends. He put Neutral ratings on Devon Energy (DVN), Hess Corp. (HES), Marathon Oil (MRO) and Apache (APA). Lastly, Sankey initiated Murphy Oil (MUR) with an Underperform rating and $36 price target. While the stock trades well below peers on both mid-cycle free cash and discount to net asset value, there is not enough potential upside to justify a Neutral at this point, Sankey told investors in a research note.
07/12/18
MSCO
07/12/18
INITIATION
Target $240
MSCO
Overweight
Pioneer Natural initiated with an Overweight at Morgan Stanley
Morgan Stanley analysts Devin McDermott and Drew Venker added coverage of 12 large-cap and diversified E&Ps, including Pioneer Natural, which they started with a $240 price target and Overweight rating.
07/23/18
MZHO
07/23/18
INITIATION
Target $259
MZHO
Buy
Pioneer Natural initiated with a Buy at Mizuho
Mizuho analyst Paul Sankey started Pioneer Natural Resources with a Buy rating and $259 price target.
07/24/18
KLRG
07/24/18
UPGRADE
KLRG
Buy
Pioneer Natural upgraded to Buy from Hold at KLR Group
DXC DXC Technology
$87.11

0.22 (0.25%)

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.
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.
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."
08/06/18
MSCO
08/06/18
NO CHANGE
MSCO
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).
CLR Continental Resources
$62.70

-0.04 (-0.06%)

07/05/18
TDSI
07/05/18
INITIATION
Target $73
TDSI
Hold
Continental Resources initiated with a Hold at TD Securities
TD Securities analyst Menno Hulshof initiated Continental Resources with a Hold and $73 price target.
06/11/18
RILY
06/11/18
NO CHANGE
Target $86
RILY
Buy
Continental Resources price target raised to $86 from $70 at B. Riley FBR
B. Riley FBR analyst Rehan Rashid raised his price target for Continental Resources to $86 and keeps a Buy rating on the shares. The company's "project springboard" should contribute meaningfully to its 2019 and beyond growth, Rashid tells investors in a research note.
07/24/18
KLRG
07/24/18
UPGRADE
KLRG
Buy
Continental Resources upgraded to Buy from Hold at KLR Group
07/12/18
MSCO
07/12/18
INITIATION
Target $82
MSCO
Overweight
ConocoPhillips initiated with an Overweight at Morgan Stanley
Morgan Stanley analysts Devin McDermott and Drew Venker added coverage of 12 large-cap and diversified E&Ps, identifying ConocoPhillips (COP), Occidental Petroleum (OXY) and Continental Resources (CLR) as their top picks. The analysts set an $82 price target on Overweight-rated ConocoPhillips.
PAA Plains All American
$25.21

-0.63 (-2.44%)

07/18/18
BOFA
07/18/18
UPGRADE
BOFA
Buy
Plains All American upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Dennis Coleman upgraded Plains All American to Buy and maintained a $28 price target. Coleman expects Plains to continue to execute on its Permian strategy by expanding its footprint, improving its intra-basin system, and executing on long haul pipe expansion opportunities.
07/27/18
GHSC
07/27/18
INITIATION
Target $28
GHSC
Buy
Plains All American initiated with a Buy at Seaport Global
Seaport Global analyst Sunil Sibal resumed coverage on Plains All American with a Buy and $28 price target saying progress on deleveraging through 1H 2019 combined with asset sales and cash flow growth will position it to start raising distributions by the end of 2019.
06/18/18
BERN
06/18/18
DOWNGRADE
BERN
Market Perform
Plains All American downgraded to Market Perform from Outperform at Bernstein
07/27/18
07/27/18
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. NXP Semiconductors (NXPI) reinstated with a Neutral at BofA/Merrill. 2. uniQure (QURE) initiated with an Overweight at Cantor Fitzgerald. 3. Autolus Therapeutics (AUTL) initiated with a Neutral at Goldman Sachs. 4. Pure Storage (PSTG) initiated with an Overweight at JPMorgan. 5. Plains All American (PAA) initiated with a Buy at Seaport Global. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
SNAP Snap
$13.33

0.28 (2.15%)

08/03/18
WEDB
08/03/18
NO CHANGE
Target $10
WEDB
Neutral
Snap will turn the corner 'eventually,' remain on sidelines now, says Wedbush
Wedbush analyst Michael Pachter maintained a Neutral rating and $10 price target on Snap ahead of the company's Q2 results on August 7. In a research note to investors, Pachter says that despite improvements in programmic, he feels that Snapchat is one of the most difficult-to-use social platforms for advertisers and its economic losses are likely to exceed $1B in 2018, with no clear path to profitability. Though he acknowledges that the company's 191 million DAUs have value and could drive profits if management chooses to focus on profitability, Snap continues to focus on improving the utility of its app, increasing user engagement, and explaining its value proposition to advertisers. Pachter is confident that Snap will turn the corner eventually, but he advises investors to remain on the sidelines until there is evidence of a turnaround.
08/07/18
BTIG
08/07/18
NO CHANGE
BTIG
Neutral
Snap revenue estimates reduced at BTIG
BTIG analyst Richard Greenfield kept his Neutral rating on Snap but lowered his FY18 revenue projections again to $1.13B and FY19 to $1.61B, noting that these are now much less than his original April 2017 forecasts of $2.5B and $4.9B respectively. The analyst notes that his initial Neutral rating on Snap was a "mistake", as revenue ramp did not proceed as he expected, but adds that given the "horrible" sentiment on the stock, any evidence of "success" could lead to an upside "overreaction". Greenfield further notes that he is "intrigued by the stickiness of the app as a communications platform" amid the "massive" shift of consumer time spent on mobile, even though his "patience is wearing thin".
07/30/18
OTRG
07/30/18
NO CHANGE
OTRG
Mixed
Snap performance 'woes' continue, says OTR Global
OTR Global's Q2 U.S. checks indicate performance "woes" continue as year-over-year advertising spending benefited only slightly from improved targeting and open self-serve API, struggling against competitors with strong performance.
08/07/18
DBAB
08/07/18
NO CHANGE
Target $13
DBAB
Hold
Deutsche expects 'weak' user trends from Snap in Q2
Deutsche Bank analyst Lloyd Walmsley expects "weak" daily active user trends in Q2 but improving monetization from Snap, particularly in the second half of the year as the company ramps deployment of its advertising pixel. To reflect the rollback of the redesign still not being completed for Android users in Q2, the analyst lowered his quarter-over-quarter net new average DAU number to down 2.5M from up 1M to 188.5M, below the Street at 192M. The analyst thinks brand ad buyers may be hesitating given the redesign and cut his Q2 revenue estimate for Snap to $243M from $249M. The Street is at $249M. Walmsley, however, slightly increased his Q3 and Q4 ad revenue estimates reflecting improving feedback around the company's ad tech improvements. The analyst bumped up his price target to $13 from $12 but keeps a Hold rating on Snap
IFF International Flavors
$135.09

1.085 (0.81%)

06/08/18
ARGS
06/08/18
DOWNGRADE
ARGS
Hold
International Flavors downgraded to Hold from Buy at Argus
Argus analyst John Staszak downgraded International Flavors to Hold from Buy citing the lofty acquisition price of Frutarom, which will not contribute to 2018 earnings and only modestly to 2019 earnings. Further, Staszak is concerned the company will overpay for growth following the announced plans to boost revenue by $500M to $1B in new acquisitions by end of 2020.
05/14/18
05/14/18
DOWNGRADE
Target $120

Underweight
International Flavors downgraded to Underweight from Neutral at JPMorgan
As previously reported, JPMorgan analyst Jeffrey Zekauskas downgraded International Flavors & Fragrances to Underweight from Neutral, estimating that its equity offering to finance the purchase of Frutarom is equivalent to about 18m shares. He assumes the stock would be issued before the end of 2018 and he thinks the shorter-term risk/reward for the stock is more challenging given the magnitude of the possible offering, he tells investors. Zekauskas lowered our 2018-2020 EPS forecasts to account for higher share count assumptions and lowered his price target to $120 from $130.
05/14/18
JPMS
05/14/18
DOWNGRADE
JPMS
Underweight
Correction: International Flavors downgraded to Underweight at JPMorgan
05/10/18
BERN
05/10/18
NO CHANGE
Target $155
BERN
Outperform
International Flavors price target lowered to $155 from $160 at Bernstein
Bernstein analyst Gunther Zechmann lowered his price target for International Flavors to $155 from $160 following its announcement that it will acquire Frutarom in a $7.1B transaction. The analyst reiterates an Outperform rating on the shares.
MTCH Match Group
$38.53

0.15 (0.39%)

06/11/18
JEFF
06/11/18
UPGRADE
Target $50
JEFF
Buy
Match Group upgraded to Buy from Hold at Jefferies
Jefferies analyst Brent Thill upgraded Match Group (MTCH) to Buy and raised his price target for the shares to $50 from $40. The stock closed Friday up 65c to $41.52. A survey of 600 online daters shows many users do not wish to commingle dating with social media, Thill tells investors in a research note. As such, he believes Facebook's (FB) dating will likely appeal to an older demographic rather than millennials on Tinder. The analyst notes that many past Facebook product launches have not impacted publicly traded competition.
06/11/18
JEFF
06/11/18
NO CHANGE
Target $200
JEFF
Buy
IAC price target raised to $200 from $175 at Jefferies
Jefferies analyst Brent Thill raised his price target for IAC (IAC) to $200 in conjunction with his upgrade this morning of Match Group (MTCH) to Buy from Hold. Trading at just 12 times 2019 EBITDA and a $3B market discount to the company's ownership in Match and Angi Homeservices (ANGI), IAC's valuation looks attractive, Thill tells investors in a research note. He calls the company a top mid cap pick and reiterates a Buy rating on the shares.
06/20/18
AGIS
06/20/18
NO CHANGE
Target $47
AGIS
Buy
Paid subscriptions for Match's Tinder tracking ahead of consensus, says Aegis
Aegis analyst Victor Anthony said his analysis of Tinder app MAUs in the second quarter-to-date lead him to believe Tinder is exceeding the consensus estimate of 250K Tinder average paid net additions by a "comfortable margin." He thinks this suggests Tinder continues to incrementally benefit from the Gold launch with higher than expected renewal rates, Anthony tells investors. The analyst maintains a Buy rating and $47 price target on Match Group shares.
06/11/18
06/11/18
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. UMC (UMC) upgraded to Market Perform from Underperform at Bernstein with analyst Mark Li saying he believes the company will deliver a better capital return. 2. Petrobras (PBR) upgraded to Market Perform from Underperform at Raymond James with analyst Pavel Molchanov saying the government's "dramatic intervention" in late May to slash diesel prices in response to a national trucker strike is largely reflected in valuation. 3. Apache (APA) upgraded to Buy from Hold at Argus with analyst Bill Selesky citing the impact of rising crude oil prices as well as the management's strategy of allocating nearly 70% of its FY18 capital spending program to production in the Permian basin. 4. Match Group (MTCH) upgraded to Buy from Hold at Jefferies with analyst Brent Thill saying a survey of 600 online daters shows many users do not wish to commingle dating with social media. 5. First Data (FDC) upgraded to Buy from Neutral at Goldman Sachs with analyst James Schneider saying despite "choppy" fundamentals, the company's revenue growth is poised to improve. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PE Parsley Energy
$31.80

0.43 (1.37%)

06/18/18
NASC
06/18/18
UPGRADE
NASC
Buy
Parsley Energy upgraded to Buy from Hold at National Alliance
07/03/18
JPMS
07/03/18
NO CHANGE
Target $49
JPMS
Overweight
Parsley Energy multiple among lowest in Permian, says JPMorgan
After spending time on the road with management, JPMorgan analyst Michael Glick says Parsley Energy's out-year multiples "continue to have us scratching our heads." The company is differentiated in the short term via its marketing agreements and ongoing execution, and in the long run given asset quality and inventory depth, Glick tells investors in a research note. The company's multiple is among the lowest in the Permian, and cheaper than other basins as we look to 2021, Glick writes. He keeps an Overweight rating on Parsley Energy with a $49 price target.
07/05/18
TDSI
07/05/18
INITIATION
Target $37
TDSI
Buy
Parsley Energy initiated with a Buy at TD Securities
TD Securities analyst Menno Hulshof initiated Parsley Energy with a Buy and $37 price target.
06/13/18
PIPR
06/13/18
NO CHANGE
Target $46
PIPR
Overweight
Parsley Energy well positioned to outperform peers, says Piper Jaffray
Parsley Energy appears well positioned to outperform Permian peers over the coming quarters, Piper Jaffray analyst Kashy Harrison tells investors in a research note. The analyst believes Parsley's operational momentum appears poised to continue following its "strong" Q1 production results. He expects its Q2 oil volumes to exceed consensus expectations and keeps an Overweight rating on the shares with a $46 price target. While Parsley is not immune to wider Mid-Cush differentials, the company's basis hedges and exposure to multiple pricing points provide "some insulation from weaker Midland pricing," the analyst contends.
WEN Wendy's
$17.05

-0.02 (-0.12%)

08/02/18
KERI
08/02/18
DOWNGRADE
KERI
Neutral
Wendy's downgraded to Neutral ahead of Q2 report at Kalinowski
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 are 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 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.
08/02/18
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.
07/19/18
SPHN
07/19/18
NO CHANGE
SPHN
Overweight
Odds low of Wendy's buying Papa John's, says Stephens
After The Wall Street Journal reported that Papa John's (PZZA) founder and former CEO John Schnatter had begun preliminary merger talks with Wendy's (WEN) before he stepped down as chairman, Stephens analyst Will Slabaugh said he views the likelihood of the burger chain acquiring Papa John's as low. However, the report, if true, confirms that Papa John's is willing to entertain M&A opportunities, said Slabaugh, who continues to view the company as an attractive long-term asset in a quick growing space and keeps an Overweight rating on the stock.
08/02/18
08/02/18
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. Hanesbrands (HBI) downgraded to Equal Weight from Overweight at Barclays with analyst Chethan Mallela saying he sees a lack of visibility into the second half of the year following the company's Q2 results. 2. Royal Dutch Shell (RDS.A) downgraded to Equal Weight from Overweight at Morgan Stanley. 3. Verisk Analytics (VRSK) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Arash Soleimani citing valuation. 4. People's Utah Bancorp (PUB) downgraded to Market Perform at Raymond James with analyst David Long citing valuation. 5. Wendy's (WEN) downgraded to Neutral ahead of Q2 report at Kalinowski with analyst Mark Kalinowski saying his checks indicate July same-store-sales are trending below the +1.5% level and were the worst checks since February 2012. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CAR Avis Budget
$38.09

2.32 (6.49%)

04/11/18
04/11/18
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. Avis Budget (CAR) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing valuation. 2. Affiliated Managers (AMG) downgraded to Market Perform at Keefe Bruyette. 3. Valero (VLO) and PBF Energy (PBF) were downgraded to Sector Perform from Outperform at Scotia Howard Weil. 4. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Melissa Franchi saying she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud. 5. Mitel (MITL) downgraded to Sector Perform from Outperform at National Bank with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/30/18
07/30/18
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. AT&T (T) upgraded to Buy from Neutral at BofA/Merrill with analyst David Barden saying he is positive on AT&T's 20-year low P/E multiple, Timer Warner (TWX) merger benefits of earnings accretion and expanding cash, favorable emerging wireless business trends, and a call option on value extraction from the merger of AT&T's distribution network with Time Warner's content and ad inventory. 2. American Airlines (AAL) upgraded to Outperform from Neutral at Macquarie. 3. Avis Budget (CAR) upgraded to Buy from Neutral at Northcoast. 4. Cabot Oil & Gas (COG) upgraded to Positive from Neutral at Susquehanna with analyst Biju Perincheril citing the recent weakness in the shares but he also feels the risk/reward is attractive with many projects providing production growth over the next two years along with accelerating free cash flow generation. 5. Juniper (JNPR) upgraded to Buy from Hold at Deutsche Bank with analyst Vijay Bhagavath saying he's "going against the grain" and making a "contrarian call." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/30/18
NRCS
07/30/18
UPGRADE
NRCS
Buy
Avis Budget upgraded to Buy from Neutral at Northcoast
06/26/18
MSCO
06/26/18
INITIATION
Target $30
MSCO
Underweight
Avis Budget resumed with an Underweight at Morgan Stanley
Morgan Stanley analyst Adam Jonas resumed coverage of Avis Budget (CAR) with an Underweight rating and $30 price target, as he believes the company, and the U.S. car rental industry, may have a hard time raising prices sufficiently to offset rising vehicle depreciation costs. Both Avis and Hertz (HTZ) are "heavily dependent" on the used car market and credit environment, said Jonas, who also reiterated an Underweight rating on Hertz, though he increased his price target on its shares to $15 from $13.
SFLY Shutterfly
$83.76

0.26 (0.31%)

07/06/18
BARD
07/06/18
NO CHANGE
Target $95
BARD
Neutral
Shutterfly price target raised to $95 from $85 at Baird
Baird analyst Colin Sebastian raised his price target on Shutterfly to $95 from $85 following the completion of its LifeTouch acquisition. The analyst sees a cross-selling opportunity and said 2020 financial targets imply a modest expectation. Although technology and integration risks remain, he believes management is being conservative. Sebastian maintained his Neutral rating on Shutterfly shares.
05/02/18
05/02/18
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. Juniper was (JNPR) upgraded to Buy from Neutral at BofA/Merrill and to Hold from Sell at Deutsche Bank. 2. Aetna (AET) upgraded to Overweight from Neutral at Cantor Fitzgerald with analyst Steven Halper saying he views the risk/reward on shares as "more compelling" following the company's first quarter results. 3. Freeport McMoRan (FCX) upgraded to Outperform from Neutral at CIBC with analyst Oscar Cabrera saying shares have dropped over 20% following the Q1 report, reflecting a worst-case scenario for the Indonesia scenario. 4. Shutterfly (SFLY) upgraded to Neutral from Sell at Goldman Sachs with analyst Christopher Merwin citing the better than expected Q1 report. 5. CommScope (COMM) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying he believes the company's unique mix of exposure to Tier 1 carrier investment in both fiber optic and 4G/5G wireless infrastructure offers compelling value following the sharp pullback in shares after only a "fairly modest" cut to its EPS expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/05/18
RHCO
06/05/18
NO CHANGE
Target $111
RHCO
Buy
Shutterfly price target raised to $111 from $100 at SunTrust
SunTrust analyst Youssef Squali raised his price target for Shutterfly to $111 and reiterated a Buy rating following meetings with management this week. The increased price target reflects sustained improvement in the company's core Consumer segment as well as long-term accretion from Lifetouch, Squali says in a research note to investors. Embarking on the integration of Lifetouch represents phase two of Shutterfly's turnaround, he contends, adding that phase three will be the optimization of capital allocation, which he expects in 2020 and beyond.
05/02/18
RHCO
05/02/18
NO CHANGE
Target $100
RHCO
Buy
Shutterfly price target raised to $100 from $70 at SunTrust
SunTrust analyst Youssef Squali raised his price target on Shutterfly to $100 after the company's Q1 earnings beat and raised FY18 forecasts, citing its "improving core Consumer segment" and the benefits of Lifetouch acquisition. The analyst says Shutterfly is also seeing positive momentum from the launch of new products, while its newly restructured platform marks the end of the first stage of its turnaround. Squali keeps his Buy rating on Shutterfly given its "promising outlook and compelling valuation".
LC LendingClub
$4.10

0.14 (3.54%)

07/19/18
MSCO
07/19/18
DOWNGRADE
Target $5
MSCO
Equal Weight
LendingClub downgraded as FTC probe seen detering investors at Morgan Stanley
As previously reported, Morgan Stanley analyst James Faucette downgraded LendingClub 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. While its fundamentals are undervalued, there is also execution risk, added Faucette, who lowered his price target on LendingClub shares to $5 from $6.
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.
07/19/18
MSCO
07/19/18
DOWNGRADE
MSCO
Equal Weight
LendingClub downgraded to Equal Weight from Overweight at Morgan Stanley
06/01/18
CHLM
06/01/18
NO CHANGE
Target $5
CHLM
Buy
Craig-Hallum sees LendingClub loan volumes accelerating
LendingClub's new credit model enables it to say "Yes" more often when underwriting, which should drive improved loan growth and operating margins, Craig-Hallum analyst Bradley Berning tells investors in a research note. The analyst raised his Q2 loan sale assumption to $2.63B from $2.46B, up 14% from Q1. The analyst, however, left his revenue and EBITDA estimates unchanged, and keeps a Buy rating on the shares with a $5 price target.
DDD 3D Systems
$13.47

0.12 (0.90%)

07/26/18
PIPR
07/26/18
DOWNGRADE
Target $10
PIPR
Underweight
3D Systems downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Troy Jensen downgraded 3D Systems (DDD) to Underweight with a $10 price target. The shares closed yesterday up 30c to $14.00. A survey of resellers found that system demand downticked sequentially for 3D Systems with more below plan responses versus above plan, Jensen tells investors in a research note. He believes competition for the company's main product lines is intensifying. 3D Systems will struggle to deliver organic system growth with HP (HPQ), General Electric (GE), Formlabs, Carbon and others "attacking their biggest revenue contributors," Jensen writes. 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 reiterates a Neutral rating on the latter.
07/26/18
07/26/18
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 Outperform from Strong Buy at Raymond James and to Neutral from Buy at Nomura Instinet and UBS. 2. e.l.f. Beauty (ELF) downgraded to Perform from Outperform at Oppenheimer with analyst Rupesh Parikh saying the bull case is more uncertain from here. 3. 3D Systems (DDD) downgraded to Underweight from Neutral at Piper Jaffray with analyst Troy Jensen saying a survey of resellers found that system demand downticked sequentially for 3D Systems with more below plan responses versus above plan. 4. Owens Corning (OC) downgraded to Neutral from Buy at BofA/Merrill with analyst John Lovallo citing disappointing Q2 results. 5. Skechers (SKX) downgraded to Hold from Buy at Argus with analyst John Staszak citing the company's Q2 earnings miss, as well as its reduced revenue growth outlook, and "only a marginal" gross margin expansion in Q3. 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
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.
07/30/18
JPMS
07/30/18
NO CHANGE
Target $9.5
JPMS
Underweight
JPMorgan cautious on 3D printing names into Q2 results
JPMorgan analyst Paul Coster is cautious heading into the Q2 results for 3D printing pure-plays, 3D Systems (DDD) and Stratasys (SSYS). The analyst sees "intense" competition in every segment, and continued commoditization of the entry-level market segment. He has an Underweight rating on 3D with a $9.50 price target and Underweight rating on Stratasys with a $17 price target.
PZZA Papa John's
$41.62

-0.68 (-1.61%)

08/01/18
JEFF
08/01/18
UPGRADE
Target $58
JEFF
Buy
Papa John's upgraded to Buy from Hold at Jefferies
Jefferies analyst Alexander Slagle upgraded Papa John's International to Buy 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 tells investors in a research note. 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. Papa John's closed yesterday down 10c to $41.96.
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.
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.
08/01/18
08/01/18
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. AutoZone (AZO) upgraded to Buy from Hold at Deutsche Bank with analyst Mike Baker saying Improving comps and fundamentals, coupled with a stock that has underperformed year-to-date, has brought a "compelling" valuation. 2. Pandora (P) upgraded to Outperform from Sector Perform at RBC Capital with analyst Mark Mahaney saying the company's double-digit organic revenue growth and declining EBITDA losses were driven by improving execution, adding that while the 2% active listener hours decline is a worry, the valuation on the stock is "undemanding" given its expected annualized revenue growth of about 10% over the next 3 years. 3. Papa John's (PZZA) upgraded to Buy from Hold at Jefferies with analyst Alexander Slagle saying the stock, down 50% from highs, now reflects the likelihood that fundamentals will get worse before improving. 4. Electronic Arts (EA) upgraded to Buy from Hold at Argus with analyst Joseph Bonner saying the latest pullback in the stock price after the company's recent Q1 earnings report offers a favorable entry point. 5. Sarepta (SRPT) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying the stock is down about 34% since June 19 after having moved up by about 50% when its initial DMD gene therapy data was announced. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FOSL Fossil
$25.79

-2.84 (-9.92%)

07/09/18
KEYB
07/09/18
INITIATION
KEYB
Overweight
Fossil initiated with an Overweight at KeyBanc
07/10/18
07/10/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Spotify (SPOT) initiated with a Perform at Oppenheimer. 2. CME Group (CME) initiated with a Neutral at Compass Point. 3. Weight Watchers (WTW) initiated with an Overweight at KeyBanc. 4. Fossil (FOSL) initiated with an Overweight at KeyBanc. 5. Alvarion (ALVR) 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.
07/12/18
KEYB
07/12/18
NO CHANGE
Target $32
KEYB
Overweight
KeyBanc sees concerns on Fossil tariff exposure as 'compelling opportunity'
KeyBanc analyst Edward Yruma thinks that concerns on Fossil's tariff exposure present a "compelling near-term trading opportunity." After reviewing the USTR-2018-0026, the most recent list of $200B in annual trade goods subject to a potential 10% ad valorem duty, the analyst has concluded that wrist watches are not included and believes concerns are overdone. Yruma reiterates an Overweight rating and $32 price target on the shares.
06/04/18
KEYB
06/04/18
NO CHANGE
Target $32
KEYB
Overweight
Fossil price target raised to $32 from $25 at KeyBanc
KeyBanc analyst Edward Yruma raised his price target for Fossil to $32 from $25 has he believes the company has turned the corner - a combination of expense reductions, focus on wearables, and a more favorable secular watch environment. Further, the analyst argues that new fashion trends and millennial interest in watches seems to be driving a stabilized watch environment. Yruma reiterates an Overweight rating on the shares.
INFN Infinera
$8.75

0.2 (2.34%)

07/24/18
07/24/18
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. Mosaic (MOS) double upgraded to Buy from Underperform at BofA/Merrill with analyst Steve Byrne saying he believes 2018 will mark a bottom in global phosphate utilization rates and now believes there is more upside risk to consensus estimates as the cycle improves. 2. Live Nation (LYV) upgraded to Buy from Neutral at BTIG with analyst Brandon Ross saying he is now more convinced that the company will outperform expectations amid inflecting growth rate with an added possibility of M&A. 3. Infinera (INFN) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying the calculus of his March downgrade changes with the acquisition of Coriant, giving the company a double-digit market share in 100G+ optical systems. 4. Baker Hughes (BHGE) upgraded to Buy from Hold at SunTrust with analyst Ken Sill saying the EPS miss was due to higher interest expense and taxes, as well as an asset charge that is "hopefully non-recurring." 5. Werner (WERN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ken Hoexter saying Q2 freight demand in One way Truckload was much stronger than normal and revenue per load mile was up 13.3% year-over-year, the strongest level in more than 20 years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/24/18
07/24/18
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. Whirlpool (WHR) downgraded to Neutral from Buy at Longbow with analyst David MacGregor calling its quarter "disappointing across most dimensions of the business." 2. Gogo (GOGO) downgraded to Market Perform from Outperform at Raymond James with analyst Ric Prentiss saying he expects several more quarters of "turbulence" given potential dilution/rollover risks from 2020 bond convertible bond maturities, churn pressures, continued negative free cash flow, and the airline industry shift to directed pricing. 3. Marriott (MAR) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Thomas Allen saying he is more bullish on the Gaming REITs, given their attractive, dependable yields, and has become more cautious on Lodging, he tells investors. 4. Infinera (INFN) downgraded to Underperform from Market Perform at Raymond James. 5. Hasbro (HAS) downgraded to Neutral from Buy at Monness Crespi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/24/18
NORL
07/24/18
UPGRADE
Target $12
NORL
Outperform
Infinera upgraded to Outperform at Northland on added Coriant opportunity
As reported earlier, Northland analyst Tim Savageaux upgraded Infinera to Outperform from Market Perform with a $12 price target, saying the calculus of his March downgrade changes with the acquisition of Coriant, giving the company a double-digit market share in 100G+ optical systems. The analyst also sees the deal price as "attractive" at 0.6-times revenue and the model as "viable" even with conservative synergy assumptions and Infinera's prior acquisition integration challenges.
07/24/18
WBLR
07/24/18
NO CHANGE
WBLR
Outperform
Positives of Infinera deal 'meaningfully' outweigh risks, says William Blair
William Blair analyst Dmitry Netis believes the positives of Infinera's (INFN) acquisition of Coriant "meaningfully" outweigh the risks. If nothing else, the deal takes out a "nonsensical price disrupter from the market," Netis tells investors in a research note. The deal could be also very accretive, if management can execute, which is "no slam dunk," the analyst adds. His first cut pro forma model yields pro forma earnings per share of 78c by 2020 and $1.25 by 2021. Using a 15 times multiple on $1.25 in EPS in 2021, discounted back three years at 15%, yields a fair value of Infinera shares in the low- to mid-teens, Netis writes. He keeps an Outperform rating on Infinera. He also believes Ciena (CIEN) will trade up on the news while Acacia Communications (ACIA) may be pressured given customer consolidation, potential for greater discounting through longer-term price contracts, and risks of vertical integration by Infinera.
MXL MaxLinear
$17.85

0.54 (3.12%)

06/29/18
NEED
06/29/18
NO CHANGE
Target $22
NEED
Buy
MaxLinear price target lowered to $22 from $27 at Needham
Needham analyst N. Quinn Bolton lowered his price target on MaxLinear to $22, saying the company is "hitting air pockets" in its cable data business amid transition issues between DOCSIS 3.0 and DOCSIS 3.1. Bolton states that the purchases of the former are down as OEMs look to reduce their inventory levels, while the ramp of the latter is taking longer and is now expected to start in Q4. The analyst keeps his Buy rating on MaxLinear longer term, noting that the DOCSIS weakness is already reflected in the price after the recent selloff.
07/12/18
BNCH
07/12/18
NO CHANGE
BNCH
Buy
Marvell, Ceva, MaxLinear stand to benefit from ZTE ban ending, says Benchmark
After the U.S. announced it has signed an escrow agreement with ZTE (ZTCOY) that should lift the supplier ban and allow the company to resume operations, Benchmark analyst Gary Mobley identified Ceva (CEVA), Marvell Technology (MRVL) and MaxLinear (MXL) as the stocks that he covers that have the most to gain from the lifting of the ZTE shipment ban. He maintains Buy ratings on all three suppliers.
07/18/18
DBAB
07/18/18
NO CHANGE
Target $19
DBAB
Hold
MaxLinear Q2 likely to be at lower end of guidance, says Deutsche Bank
Deutsche Bank analyst Ross Seymore believes headwinds within MaxLinear's (MXL) Connected Home segment are likely to yield Q2 results toward the lower end of guidance and Q3 revenues that are likely to slightly decline quarter-over-quarter. Further, the analyst believes the transition from DOCSIS 3.0 to DOCSIS 3.1 has been delayed at Arris (ARRS), MaxLinear's largest customer, thereby creating an additional headwind for Q2 and Q3. Seymore lowered his estimates for MaxLinear and expects the stock to remain range-bound. The analyst cut his price target for the stock to $19 from $21 and keeps a Hold rating on the name.
06/11/18
ROTH
06/11/18
DOWNGRADE
Target $20
ROTH
Neutral
MaxLinear downgraded to Neutral on near-term headwinds at Roth Capital
Roth Capital analyst Suji Desilva downgraded MaxLinear to Neutral from Buy and lowered his price target for the shares to $20 from $27. While the company remains positioned for the intermediate-term ramps of wireless infrastructure and connected home, near-term headwinds will impact its outlook, Desilva tells investors in a research note. The analyst believes China infrastructure concerns, a step back in multimedia over coax alliance connectivity demand and continued terrestrial tuner demand softness will limit upside in shares of MaxLinear in the short term. He will look for improving visibility prior to getting more aggressive with the stock.
AAOI Applied Optoelectronics
$37.17

-1.77 (-4.55%)

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.
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).
06/13/18
RSBL
06/13/18
NO CHANGE
RSBL
Sell
Applied Optoelectronics could be pressured by Google tightening, says Rosenblatt
Rosenblatt analyst Jun Zhang said checks point to a modest new tightening of capital spending at Alphabet's (GOOG) Google in Q2, which could lead to pressure on Applied Optoelectronics (AAOI). Among suppliers with modest exposure to Alphabet, Zhang currently sees minimal impact to Arista (ANET) and Juniper (JNPR). Zhang keeps a Sell rating on Applied shares.
06/11/18
RSBL
06/11/18
INITIATION
RSBL
Sell
Applied Optoelectronics initiated with a Sell at Rosenblatt
Rosenblatt analyst Jun Zhang initiated Applied Optoelectronics with a Sell and $30 price target saying pricing wares are likely to continue to depress gross margins throughout the year and into 2019. Xhang expects increasing price competition in the 100G and 400G module markets and has concerns that Applied's 40% gross margins are unrealistic going forward, and does not believe this is reflected in consensus estimates. The analyst is forecasting 2019 earnings of $1.95, versus consensus of $2.86.

TODAY'S FREE FLY STORIES

APTX

Aptinyx

$24.75

-0.76 (-2.98%)

21:40
11/14/18
11/14
21:40
11/14/18
21:40
Initiation
Aptinyx initiated  »

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OVID

Ovid Therapeutics

$4.75

-0.42 (-8.12%)

21:39
11/14/18
11/14
21:39
11/14/18
21:39
Initiation
Ovid Therapeutics initiated  »

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AXSM

Axsome Therapeutics

$2.82

-0.07 (-2.42%)

21:38
11/14/18
11/14
21:38
11/14/18
21:38
Initiation
Axsome Therapeutics initiated  »

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DNLI

Denali Therapeutics

$17.53

0.24 (1.39%)

21:37
11/14/18
11/14
21:37
11/14/18
21:37
Initiation
Denali Therapeutics initiated  »

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OTIC

Otonomy

$2.34

-0.07 (-2.90%)

21:35
11/14/18
11/14
21:35
11/14/18
21:35
Initiation
Otonomy initiated  »

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AAPL

Apple

$186.81

-5.42 (-2.82%)

20:46
11/14/18
11/14
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20:46
Hot Stocks
Apple supplier AMS AG discontinues FY18 targets »

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  • 14

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WEI

Weidai

$0.00

(0.00%)

20:33
11/14/18
11/14
20:33
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20:33
Syndicate
Weidai 4.5M share IPO priced at $10.00 »

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  • 15

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CPB

Campbell Soup

$39.16

-0.1 (-0.25%)

20:31
11/14/18
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20:31
11/14/18
20:31
Hot Stocks
Campbell Soup responds to ISS regarding board elections »

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  • 20

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CRM

Salesforce

$129.25

-2.93 (-2.22%)

20:25
11/14/18
11/14
20:25
11/14/18
20:25
Periodicals
Breaking Periodicals news story on Salesforce »

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WMT

Walmart

$101.58

-1.37 (-1.33%)

, JCP

J.C. Penney

$1.23

-0.05 (-3.91%)

20:25
11/14/18
11/14
20:25
11/14/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

WMT

Walmart

$101.58

-1.37 (-1.33%)

JCP

J.C. Penney

$1.23

-0.05 (-3.91%)

BERY

Berry Global

$45.91

-0.49 (-1.06%)

03/08/13
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BHVN

Biohaven Pharmaceutical

$33.70

-3.18 (-8.62%)

19:53
11/14/18
11/14
19:53
11/14/18
19:53
Recommendations
Biohaven Pharmaceutical analyst commentary  »

Biohaven Pharmaceutical…

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LOXO

Loxo Oncology

$143.69

-15.62 (-9.80%)

19:51
11/14/18
11/14
19:51
11/14/18
19:51
Initiation
Loxo Oncology initiated  »

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OCUL

Ocular Therapeutix

$5.06

-0.25 (-4.71%)

19:50
11/14/18
11/14
19:50
11/14/18
19:50
Initiation
Ocular Therapeutix initiated  »

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  • 27

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VYGR

Voyager Therapeutics

$11.25

-0.54 (-4.58%)

19:49
11/14/18
11/14
19:49
11/14/18
19:49
Upgrade
Voyager Therapeutics rating change  »

Voyager Therapeutics…

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  • 14

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GLPG

Galapagos NV

$103.79

1.03 (1.00%)

19:48
11/14/18
11/14
19:48
11/14/18
19:48
Initiation
Galapagos NV initiated  »

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COPY

CopyTele

$0.00

(0.00%)

19:47
11/14/18
11/14
19:47
11/14/18
19:47
Upgrade
CopyTele rating change  »

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VICI

VICI Properties

$21.43

-0.04 (-0.19%)

19:40
11/14/18
11/14
19:40
11/14/18
19:40
Syndicate
VICI Properties 30M share Secondary priced at $21.00 »

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  • 15

    Nov

WHD

Cactus

$32.37

-0.7 (-2.12%)

19:37
11/14/18
11/14
19:37
11/14/18
19:37
Hot Stocks
Cactus names Stephen Tadlock new CFO »

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RVLT

Revolution Lighting

$1.42

(0.00%)

19:32
11/14/18
11/14
19:32
11/14/18
19:32
Hot Stocks
Revolution Lighting receives revised $1.50 per share proposal from RVL LLC »

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GE

General Electric

$8.34

-0.265 (-3.08%)

19:20
11/14/18
11/14
19:20
11/14/18
19:20
Periodicals
General Electric withdraws from Nigeria rail concession, Reuters says »

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BCSF

Bain Capital Specialty Finance

$0.00

(0.00%)

19:11
11/14/18
11/14
19:11
11/14/18
19:11
Syndicate
Bain Capital Specialty Finance 7.5M share IPO price $20.25 »

The deal priced at the…

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  • 15

    Nov

TSLA

Tesla

$344.07

5.36 (1.58%)

19:07
11/14/18
11/14
19:07
11/14/18
19:07
Periodicals
Tesla Model 3 owners experience issues in cold weather, Electrek says »

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NGHC

National General

$24.75

-3.05 (-10.97%)

19:05
11/14/18
11/14
19:05
11/14/18
19:05
Syndicate
National General 5M share Secondary priced at $24.00 »

JPMorgan, Goldman Sachs…

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WMT

Walmart

$101.58

-1.37 (-1.33%)

19:01
11/14/18
11/14
19:01
11/14/18
19:01
Periodicals
Walmart's Cornershop to expand into Canada next year, Reuters says »

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  • 15

    Nov

WUBA

58.com

$60.54

1.65 (2.80%)

, CSCO

Cisco

$44.35

-0.78 (-1.73%)

18:54
11/14/18
11/14
18:54
11/14/18
18:54
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: 58.com…

WUBA

58.com

$60.54

1.65 (2.80%)

CSCO

Cisco

$44.35

-0.78 (-1.73%)

VIPS

Vipshop

$5.35

0.105 (2.00%)

SFS

Smart & Final Stores

$4.96

-0.2 (-3.88%)

NTES

NetEase

$219.69

5.51 (2.57%)

SVMK

SurveyMonkey

$12.78

1.455 (12.85%)

ORCL

Oracle

$48.84

-0.68 (-1.37%)

WP

Worldpay

$82.71

-2.74 (-3.21%)

CDTI

CDTi

$1.49

-0.03 (-1.97%)

APVO

Aptevo Therapeutics

$3.13

-0.09 (-2.80%)

NTAP

NetApp

$78.05

-0.85 (-1.08%)

HSDT

Helius Medical

$9.20

-0.57 (-5.83%)

MGI

MoneyGram

$2.14

-0.09 (-4.04%)

CASI

Casi Pharmaceuticals

$3.33

0.025 (0.76%)

03/08/13
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03/08/13
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03/06/13
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  • 14

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