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INFN

Infinera

$8.69

0.14 (1.64%)

16:15
08/07/18
08/07
16:15
08/07/18
16:15

Infinera reports Q2 EPS (1c), consensus (4c)

Reports Q2 revenue $208.2M, consensus $209.11M. Tom Fallon, Infinera CEO, said, "In the second half, we expect to deploy several new opportunities that will drive multi-year growth. We believe adding Coriant's capabilities and extensive customer base to our vertically integrated operating model and refreshed product portfolio, will allow us to enter 2019 in a position of strength. I really like our opportunity and am very excited for what the future holds."

  • 07

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    Aug

INFN Infinera
$8.69

0.14 (1.64%)

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.
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.

TODAY'S FREE FLY STORIES

ACHC

Acadia

$37.72

-4.22 (-10.06%)

, UHS

Universal Health

$127.71

-2.32 (-1.78%)

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11/13
13:58
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13:58
Recommendations
Acadia, Universal Health analyst commentary  »

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ACHC

Acadia

$37.72

-4.22 (-10.06%)

UHS

Universal Health

$127.71

-2.32 (-1.78%)

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VET

Vermilion Energy

$23.45

-0.09 (-0.38%)

13:56
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13:56
Upgrade
Vermilion Energy rating change  »

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RL

Ralph Lauren

$122.66

1.62 (1.34%)

13:50
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13:50
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Bullish short-term option play in Ralph Lauren »

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GOOG

Alphabet

$1,044.94

5.72 (0.55%)

, GOOGL

Alphabet Class A

$1,054.57

4.97 (0.47%)

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GOOG

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$1,044.94

5.72 (0.55%)

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$1,054.57

4.97 (0.47%)

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ACHC

Acadia

$36.69

-5.25 (-12.52%)

, UHS

Universal Health

$127.61

-2.42 (-1.86%)

13:46
11/13/18
11/13
13:46
11/13/18
13:46
Recommendations
Acadia, Universal Health analyst commentary  »

Credit Suisse sees…

ACHC

Acadia

$36.69

-5.25 (-12.52%)

UHS

Universal Health

$127.61

-2.42 (-1.86%)

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EBS

Emergent BioSolutions

$67.84

2.175 (3.31%)

13:45
11/13/18
11/13
13:45
11/13/18
13:45
Conference/Events
Emergent BioSolutions has a conference call hosted by JPMorgan »

JPMorgan Analyst Fye will…

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13:45
11/13/18
11/13
13:45
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13:45
General news
Treasury Budget to be reported at 14:00 »

October Treasury Budget…

ACN

Accenture

$161.71

-0.725 (-0.45%)

13:32
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11/13
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13:32
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Accenture adding 300 jobs in Seattle innovation hub by the end of 2020 »

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ACHC

Acadia

$36.69

-5.25 (-12.52%)

13:32
11/13/18
11/13
13:32
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13:32
Hot Stocks
Breaking Hot Stocks news story on Acadia »

Acadia off lows, remains…

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F

Ford

$9.60

0.11 (1.16%)

13:30
11/13/18
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13:30
Hot Stocks
Ford reports October China sales down 45% to 58,204 vehicles »

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USAT

USA Technologies

$4.93

-0.29 (-5.56%)

13:30
11/13/18
11/13
13:30
11/13/18
13:30
Options
Bullish option play in USA Technologies as shares fall to 52-week lows »

Bullish option play in…

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SWK

Stanley Black & Decker

$126.06

4.27 (3.51%)

13:25
11/13/18
11/13
13:25
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13:25
Options
Black and Decker call volume above normal and directionally bullish »

Bullish option flow…

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KOP

Koppers Holdings

$21.37

1.17 (5.79%)

13:24
11/13/18
11/13
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13:24
Hot Stocks
Koppers Holdings exec Johnson acquires 50,000 common shares »

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ACHC

Acadia

$40.50

-1.44 (-3.43%)

13:23
11/13/18
11/13
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11/13/18
13:23
Hot Stocks
Breaking Hot Stocks news story on Acadia »

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ACHC

Acadia

$40.88

-1.06 (-2.53%)

13:22
11/13/18
11/13
13:22
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13:22
Hot Stocks
Breaking Hot Stocks news story on Acadia 

Acadia trading resumes

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TROW

T. Rowe Price

$96.11

0.52 (0.54%)

, PZZA

Papa John's

$55.64

-0.23 (-0.41%)

13:21
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Hot Stocks
Breaking Hot Stocks news story on T. Rowe Price, Papa John's »

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TROW

T. Rowe Price

$96.11

0.52 (0.54%)

PZZA

Papa John's

$55.64

-0.23 (-0.41%)

03/08/13
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  • 27

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13:20
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Breaking Hot Stocks news story  »

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ACHC

Acadia

$41.44

-0.5 (-1.19%)

13:17
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Hot Stocks
Breaking Hot Stocks news story on Acadia »

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VOYA

Voya Financial

$45.98

1.395 (3.13%)

13:17
11/13/18
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Hot Stocks
Breaking Hot Stocks news story on Voya Financial »

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  • 13

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
11/13/18
11/13
13:17
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13:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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VOYA

Voya Financial

$46.07

1.485 (3.33%)

13:16
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Hot Stocks
Voya Financial capital deployment plans will emphasize share buybacks »

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  • 13

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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11/13
13:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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13:15
11/13/18
11/13
13:15
11/13/18
13:15
Hot Stocks
Breaking Hot Stocks news story  »

USA Technologies trading…

VOYA

Voya Financial

$46.04

1.455 (3.26%)

13:15
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Hot Stocks
Voya Financial lays out plans for at least 10% annual earnings growth »

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  • 13

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TROW

T. Rowe Price

$95.98

0.39 (0.41%)

, UPWK

Upwork

$18.19

0.59 (3.35%)

13:13
11/13/18
11/13
13:13
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13:13
Hot Stocks
Breaking Hot Stocks news story on T. Rowe Price, Upwork »

T. Rowe Price reports…

TROW

T. Rowe Price

$95.98

0.39 (0.41%)

UPWK

Upwork

$18.19

0.59 (3.35%)

03/08/13
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