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AAOI

Applied Optoelectronics

$37.31

-1.63 (-4.19%)

, DDD

3D Systems

$13.58

0.23 (1.72%)

19:09
08/07/18
08/07
19:09
08/07/18
19:09

On The Fly: After Hours Movers

UP AFTER EARNINGS: Applied Optoelectronics (AAOI) up 27.1%... 3D Systems (DDD) up 18.4%... Match Group (MTCH) up 13.8%... Hortonworks (HDP) up 12.9%... FibroGen (FGEN) up 10.4%... Alarm.com (ALRM) up 9.0%... Invitae Corp (NVTA) up 8.7%... Shutterfly (SFLY) up 8.3%... Workiva (WK) up 6.7%... Inogen (INGN) up 6.0%... Boot Barn (BOOT) up 5.9%... PTC Therapeutics (PTCT) up 5.1%... Tutor Perini (TPC) up 4.7%... Infinera (INFN) up 4.7%... CyberArk Software (CYBR) up 4.3%... Two Harbors Investment (TWO) up 3.1%... Albemarle (ALB) up 2.9%... Fossil Group (FOSL) up 2.6%... DXC Technology (DXC) up 2.2%... Halozyme Therapeutics (HALO) up 2.2%... Diodes (DIOD) up 2.2%... Axon Enterprise (AAXN) up 1.9%... Snap (SNAP) up 0.9%. DOWN AFTER EARNINGS: Cutera (CUTR) down 15.0%... Beacon Roofing (BECN) down 12.9%... Hostess Brands (TWNK) down 12.8%... Papa John's (PZZA) down 10.4%... Prothena (PRTA) down 7.7%... Avis Budget (CAR) down 7.1%... Parsley Energy (PE) down 6.2%... Camping World (CWH) down 6.1%... Evolent Health (EVH) down 5.9%... Jazz Pharma (JAZZ) down 5.5%... Cimarex (XEC) down 5.5%... Vivint Solar (VSLR) down 5.4%... Kronos (KRO) down 4.8%... Sientra (SIEN) down 4.1%... MaxLinear (MXL) down 4.0%... DHT Holdings (DHT) down 3.7%... Capstone (CPST) down 3.5%... Clean Energy (CLNE) down 3.3%... LendingClub (LC) down 2.4%... Builders FirstSource (BLDR) down 2.4%... Pioneer Natural Resources (PXD) down 1.4%... Disney (DIS) down 0.8%.

AAOI

Applied Optoelectronics

$37.31

-1.63 (-4.19%)

DDD

3D Systems

$13.58

0.23 (1.72%)

MTCH

Match Group

$38.90

0.52 (1.35%)

HDP

Hortonworks

$17.00

-0.23 (-1.33%)

FGEN

FibroGen

$62.90

0.5 (0.80%)

ALRM

Alarm.com

$44.88

0.39 (0.88%)

NVTA

Invitae

$8.05

0.05 (0.63%)

SFLY

Shutterfly

$83.57

0.07 (0.08%)

WK

Workiva

$25.50

0.1 (0.39%)

INGN

Inogen

$213.80

0.24 (0.11%)

BOOT

Boot Barn

$23.20

-0.38 (-1.61%)

PTCT

PTC Therapeutics

$38.25

0.27 (0.71%)

TPC

Tutor Perini

$19.05

0.05 (0.26%)

INFN

Infinera

$8.69

0.14 (1.64%)

CYBR

CyberArk

$61.82

-1.4 (-2.21%)

TWO

Two Harbors

$14.70

-0.2 (-1.34%)

ALB

Albemarle

$92.78

0.1 (0.11%)

FOSL

Fossil

$26.31

-2.32 (-8.10%)

DXC

DXC Technology

$87.05

0.16 (0.18%)

HALO

Halozyme

$17.62

0.1803 (1.03%)

DIOD

Diodes

$37.70

0.95 (2.59%)

AAXN

Axon

$67.59

0.79 (1.18%)

SNAP

Snap

$13.12

0.07 (0.54%)

CUTR

Cutera

$40.75

-0.15 (-0.37%)

BECN

Beacon Roofing

$42.46

0.38 (0.90%)

TWNK

Hostess Brands

$13.94

-0.1703 (-1.21%)

PZZA

Papa John's

$41.05

-1.25 (-2.96%)

PRTA

Prothena

$14.29

0.43 (3.10%)

CAR

Avis Budget

$38.92

3.15 (8.81%)

PE

Parsley Energy

$31.72

0.35 (1.12%)

CWH

Camping World

$22.21

0.71 (3.30%)

EVH

Evolent Health

$20.20

-0.75 (-3.58%)

JAZZ

Jazz Pharmaceuticals

$180.00

3.54 (2.01%)

XEC

Cimarex Energy

$97.48

2.38 (2.50%)

VSLR

Vivint Solar

$5.50

0.05 (0.92%)

KRO

Kronos Worldwide

$22.57

0.27 (1.21%)

SIEN

Sientra

$21.33

0.38 (1.81%)

MXL

MaxLinear

$17.90

0.59 (3.41%)

DHT

DHT Holdings

$4.45

0.06 (1.37%)

CPST

Capstone Turbine

$1.42

0.05 (3.65%)

CLNE

Clean Energy

$2.74

-0.005 (-0.18%)

LC

LendingClub

$4.10

0.14 (3.54%)

BLDR

Builders FirstSource

$17.80

0.06 (0.34%)

PXD

Pioneer Natural

$186.59

0.45 (0.24%)

DIS

Disney

$116.57

0.6 (0.52%)

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AAOI Applied Optoelectronics
$37.31

-1.63 (-4.19%)

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.
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.
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).
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.
DDD 3D Systems
$13.58

0.23 (1.72%)

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.
07/26/18
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.
07/30/18
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.
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.
MTCH Match Group
$38.90

0.52 (1.35%)

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
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.
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.
HDP Hortonworks
$17.00

-0.23 (-1.33%)

06/28/18
SBSH
06/28/18
INITIATION
Target $27
SBSH
Buy
Hortonworks initiated with a Buy at Citi
Citi analyst Tyler Radke started Hortonworks with a Buy rating and $27 price target. The analyst believes cloud risk is overdone and sees a favorable valuation relative to the company's growth.
06/15/18
NOMU
06/15/18
INITIATION
Target $26
NOMU
Buy
Nomura Instinet starts Hortonworks with Buy rating, $26 price target
Nomura Instinet analyst Christopher Eberle last night initiated coverage of Hortonworks with a Buy rating and $26 price target. The company's fundamentally different approach to data management, progress on diversifying its revenue base, near-term path to breakeven operating cash flow, and continued improvement in operating metrics represent potential upside as management continues to execute, Eberle tells investors in a research note.
06/14/18
NOMU
06/14/18
INITIATION
Target $26
NOMU
Buy
Hortonworks initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Chris Eberle started Hortonworks with a Buy rating and $26 price target.
05/21/18
MONN
05/21/18
UPGRADE
MONN
Buy
Hortonworks upgraded to Buy from Neutral at Monness Crespi
FGEN FibroGen
$62.90

0.5 (0.80%)

06/19/18
MZHO
06/19/18
NO CHANGE
Target $74
MZHO
Buy
FibroGen price target raised to $74 from $61 at Mizuho
Mizuho analyst Difei Yang raised her price target for FibroGen to $74 after taking a closer look at pipeline product Pamrevlumab, currently in development for the treatment of diseases associated with fibrosis. The analyst is encouraged by recent positive data in two indications: idiopathic pulmonary fibrosis and pancreatic cancer. The data lends credibility to the compound's mechanism of action, Yang tells investors in a research note. She reiterates a Buy rating on FibroGen.
05/15/18
MZHO
05/15/18
UPGRADE
Target $61
MZHO
Buy
FibroGen upgraded to Buy from Neutral at Mizuho
Mizuho analyst Difei Yang upgraded FibroGen to Buy with an unchanged price target of $61. With a "solid" cash position, the company continues to make progress on its research and development pipeline, Yang tells investors in a research note. The analyst expects top-line Phase 3 data from Roxadustat in chronic kidney disease in Q4 and a potential regulatory approval in China is expected by year-end 2018. Yang believes believe FibroGen is likely to gain the first approval in new generation anemia drugs.
12/18/17
PIPR
12/18/17
INITIATION
Target $26
PIPR
Overweight
Akebia initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Christopher Raymond initiated Akebia (AKBA) with an Overweight rating and a price target of $26. The analyst cites the company's "combination of sound biology, clean safety, meaningful unmet medical need and an attractive relative valuation". While the near term prospects for Akebia revolve around first-to- market player Fibrogen (FGEN) in the HIF space, the analyst contends, Akebia can generate its own share of anemia market once its lead compound vadadustat is approved.
02/28/18
LEER
02/28/18
NO CHANGE
Target $88
LEER
Outperform
FibroGen price target raised to $88 from $80 at Leerink
Leerink analyst Geoffrey Porges raised his price target for FibroGen to $88 from $80 after the company n reported Q4 financial and operational results, and provided updated later timing for the U.S. roxadustat phase III trials and approval in chronic kidney disease. The analyst reiterates an Outperform rating on the shares.
ALRM Alarm.com
$44.88

0.39 (0.88%)

06/20/18
WBLR
06/20/18
NO CHANGE
WBLR
Outperform
Alarm.com shares defended at William Blair
07/25/18
ROTH
07/25/18
NO CHANGE
Target $51
ROTH
Buy
Roth Capital 'comfortable' with Alarm.com Q2 estimates following channel checks
Roth Capital analyst Darren Aftahi says his channel checks suggest about 19% year over year growth in installations from his survey, which leaves the analyst "comfortable" with his 18% SAAS topline growth estimate for Q2. Checks also suggest video-related hardware continues to see solid traction, he adds. Aftahi reiterates a Buy rating and $51 price target on the shares.
06/25/18
RAJA
06/25/18
UPGRADE
RAJA
Strong Buy
Alarm.com upgraded to Strong Buy from Outperform at Raymond James
06/20/18
06/20/18
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. Starbucks (SBUX) downgraded to Market Perform from Outperform at Telsey Advisory, to Equal Weight from Overweight at Morgan Stanley, and to Neutral from Buy at BTIG. 2. Alarm.com (ALRM) downgraded to Sell from Neutral at Goldman Sachs with analyst Gabriela Borges saying his analysis indicates that new "Do it Yourself" deployments with professional monitoring are 35% cheaper than professionally installed and monitored security systems. 3. Williams-Sonoma (WSM) downgraded to Neutral from Buy at Citi with analyst Kate McShane citing valuation. 4. Oracle (ORCL) downgraded to Neutral from Outperform at Wedbush and to Neutral from Buy at Rosenblatt. 5. Sally Beauty (SBH) downgraded to Market Perform from Outperform at Cowen. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NVTA Invitae
$8.05

0.05 (0.63%)

01/05/18
LTCO
01/05/18
INITIATION
Target $15
LTCO
Buy
Invitae initiated with a Buy at Ladenburg
Ladenburg initiated Invitae with a Buy and $15 price target.
SFLY Shutterfly
$83.57

0.07 (0.08%)

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".
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.
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
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.
WK Workiva
$25.50

0.1 (0.39%)

02/23/18
RAJA
02/23/18
DOWNGRADE
RAJA
Market Perform
Workiva downgraded to Market Perform from Outperform at Raymond James
Raymond James analyst Brian Peterson downgraded Workiva to Market Perform citing the strong run in shares since the IPO.
INGN Inogen
$213.80

0.24 (0.11%)

07/09/18
PIPR
07/09/18
NO CHANGE
Target $235
PIPR
Overweight
Inogen price target raised to $235 from $190 at Piper Jaffray
Piper Jaffray analyst JP McKim raised his price target for Inogen to $235 and says investors should own the stock into the company's Q2 results. Inogen every 18 months does a price elasticity of demand check by offering certain discounts in certain states to see what the volume of demand is like at a lower price, McKim tells investors in a research note. The analyst's channel checks indicate this was done during Q2 across 10 states, mainly in the DTC business. Feedback suggests there is clear demand for the product at lower prices and that there is no need for Inogen to permanently drop price at this time, McKim adds. He believes the company's volumes can grow over 60% in Q2, and $87M in sales is his updated forecast. The analyst adds that Q2 sales north of $90M "would not be farfetched." McKim keeps an Overweight rating on Inogen.
06/06/18
KEYB
06/06/18
INITIATION
KEYB
Sector Weight
Inogen initiated with a Sector Weight at KeyBanc
KeyBanc analyst Matt Mishan started Inogen with a Sector Weigh rating saying the current valuation does not reflect potential risks to the long-term model.
07/12/18
PIPR
07/12/18
NO CHANGE
Target $235
PIPR
Overweight
CMS proposal neutral for Inogen shares, says Piper Jaffray
Piper Jaffray analyst JP McKim's initial read on the Centers for Medicare & Medicaid Services' 368-page proposal to modernize and drive innovation in durable medical equipment, which included commentary on competitive bidding and oxygen, as neutral for shares of Inogen. Seemingly, CMS is not ready for 2019 competitive bidding and will let current bid contracts expire, McKim tells investors in a research note. This does not mean competitive bidding is going away, it just means that CMS needed something to fill the gap until they decide how to structure the next round, the analyst adds. He still likes Inogen shares into the Q2 earnings report, and recommends buying the stock more aggressive should the CMS proposal "cause any confusion in the market." McKim keeps an Overweight rating on the shares with a $235 price target.
07/16/18
PIPR
07/16/18
NO CHANGE
Target $235
PIPR
Overweight
Respironics go direct move negative headline for Inogen, says Piper Jaffray
Respironics recently updated its website to allow patients to buy direct from the company or to find the nearest durable medical equipment supplier that carries SimplyGo, Piper Jaffray analyst JP McKim tells investors in a research note. This is the first move by a competitor to go more direct and a negative headline to Inogen shares, the analyst contends. He notes the pricing is the same as Inogen's at $2,495 but also offers a monthly payment, assuming the patient qualifies for a loan. McKim believes that Inogen still has the advantage with years of direct-to-consumer advertising and a clear brand advantage. Nonetheless, competition "is seemingly heating up," he writes. However, the analyst sees room for multiple players and keeps an Overweight rating on Inogen with a $235 price target.
BOOT Boot Barn
$23.20

-0.38 (-1.61%)

05/16/18
BARD
05/16/18
NO CHANGE
Target $30
BARD
Outperform
Boot Barn price target raised to $30 from $24 at Baird
Baird analyst Jonathan Komp raised his price target on Boot Barn to $30 from $24 following Q4 results. The analyst called the accelerating comps encouraging and cited the solid 2019 guidance, which he believes leaves room for upside. Komp believes the stock's premium valuation is warranted and he reiterated his Outperform rating on Boot Barn shares.
05/16/18
JEFF
05/16/18
NO CHANGE
Target $30
JEFF
Buy
Boot Barn price target raised to $30 from $25 at Jefferies
Jefferies analyst Randal Konik raised his price target for Boot Barn to $30 saying "robust" comps, "healthy" merchandise margin expansion, and "tight" expense discipline drove a solid earnings beat in Q4. The analyst believes Boot Barn has established a defensible market position in a fragmented western/workwear market. He keeps a Buy rating on the shares.
05/16/18
WELS
05/16/18
NO CHANGE
Target $25
WELS
Market Perform
Boot Barn price target raised to $25 from $20 at Wells Fargo
Wells Fargo analyst Tom Nikic raised his price target for Boot Barn to $25 from $20 following quarterly results. The analyst reiterates a Market Perform rating on the shares.
07/06/18
BARD
07/06/18
NO CHANGE
Target $30
BARD
Outperform
Boot Barn weakness a buying opportunity, says Baird
Baird analyst Jonathan Komp said the recent weakness in Boot Barn is a buying opportunity. The analyst said the company has demonstrated a strong improvement in fundamentals and still looks attractive as its operating momentum and longer-term growth opportunity remains intact. Komp reiterated his Outperform rating and $30 price target on Boot Barn shares.
PTCT PTC Therapeutics
$38.25

0.27 (0.71%)

06/20/18
WBLR
06/20/18
NO CHANGE
WBLR
Outperform
PTC Therapeutics weakness on Sarepta data overblown, says William Blair
William Blair analyst Raju Prasad believes the weakness in shares of PTC Therapeutics (PTCT) following Sarepta's (SRPT) micro-dystrophin gene therapy data is overblown. In a best-case scenario, the micro-dystrophin gene therapy could be approved in late 2021/early 2022 in the United States and potentially 2022/2023 in Europe, Prasad tells investors in a research note. As such, the analyst believes PTC management's projected five-year annual growth of 15% for Translarna due to increasing penetration in existing countries and potential label expansion remains likely. He still views Translarna and Emflaza revenues through 2022 plus cash on hand worth at least $35 per share, with $12 to $20 per share upside coming from risdiplam's potential in spinal muscular atrophy. Prasad keeps an Outperform rating on PTC Therapeutics.
07/19/18
FBCO
07/19/18
INITIATION
Target $49
FBCO
Outperform
PTC Therapeutics initiated with an Outperform at Credit Suisse
Credit Suisse initiated PTC Therapeutics with an Outperform and $49 price target.
07/20/18
WBLR
07/20/18
NO CHANGE
WBLR
Outperform
William Blair positive on PTC's acquisition of Agilis
William Blair analyst Raju Prasad views PTC Therapeutics' acquisition of Agilis Biotherapeutics favorably saying it diversifies the company's pipeline and provides it with a "unique CNS-focused gene therapy platform with several catalysts." Prasad keeps an Outperform rating on PTC Therapeutics.
07/24/18
SBSH
07/24/18
NO CHANGE
Target $50
SBSH
Buy
PTC Therapeutics price target raised to $50 from $35 at Citi
Citi analyst Joel Beatty raised his price target for PTC Therapeutics to $50 and maintains a Buy rating on the name. Continued growth in sales from the company's Duchenne muscular dystrophy franchise, especially Translarna outside the U.S., will contribute to push the stock higher, Beatty tells investors in a research note. The analyst also believes the data so far for RG7916 in type 1 spinal muscular atrophy patients suggests it is an effective drug and that further upside could come later this year. Further, he sees PTC's recent acquisition of gene therapy company Agilis as providing a high level of synergy.
TPC Tutor Perini
$19.05

0.05 (0.26%)

02/28/18
KEYB
02/28/18
UPGRADE
Target $28
KEYB
Overweight
Tutor Perini upgraded to Overweight with $28 price target at KeyBanc
KeyBanc analyst Sean Eastman upgraded Tutor Perini to Overweight from Sector Weight with a $28 price target. The company's valuation is "over discounted" relative to peers, Eastman tells investors in a research note. He sees "strong" fundamentals and "several drivers of multiple expansion" in 2018. The analyst views Tutor Perini's initial 2018 guidance as "comfortably achievable," creating a potential beat and raise setup for the year.
02/28/18
MKMP
02/28/18
NO CHANGE
Target $27
MKMP
Buy
Tutor Perini price target lowered to $27 from $34 at MKM Partners
MKM Partners analyst Daniel Scott lowered his price target on Tutor Perini to $27, citing the company's FY18 outlook being light because of flat revenue growth in Specialty Contractors. The analyst adds that the margins in the segment are at the lower end of its typical range and Q1 will be sequentially down from year-ago levels. Scott keeps his Buy rating however, stating that the stock price dip could be a buying opportunity for a company "on the precipice of a bull market in infrastructure construction".
02/28/18
KEYB
02/28/18
UPGRADE
KEYB
Overweight
Tutor Perini upgraded to Overweight from Sector Weight at KeyBanc
04/23/18
DADA
04/23/18
NO CHANGE
Target $38
DADA
Buy
Tutor Perini Q1 earnings view lowered at DA Davidson
DA Davidson analyst Brent Thielman kept his Buy rating and $38 price target on Tutor Perini but lowered his Q1 EPS view to 24c from 38c, citing his review of the anticipated project schedules by the company. Thielman points to the lumpiness of the larger than typical projects this year, include the Seattle tunnel project as well as portions of Hudson Yards Platform and East Side Access projects. The analyst maintains his positive view for the balance of the year, saying the spring and summer months will be more productive amid a "significant ramp in growth".
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
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
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.
CYBR CyberArk
$61.82

-1.4 (-2.21%)

05/04/18
JPMS
05/04/18
NO CHANGE
Target $60
JPMS
Neutral
CyberArk price target raised to $60 from $50 at JPMorgan
JPMorgan analyst Sterling Auty raised his price target for CyberArk to $60 saying the company posted one of "cleanest quarters so far this earnings season in cyber security." CyberArk reported "solid" sales results with license revenue coming in ahead of expectations and let all of the upside drop through to the bottom line creating a significant beat for earnings, Auty tells investors in a post-earnings research note. The analyst notes, however, that the March quarter outlook indicates the company needs a higher level of investment to drive growth. Auty keeps a Neutral rating on CyberArk.
06/07/18
UBSW
06/07/18
NO CHANGE
Target $71
UBSW
Buy
CyberArk price target raised to $71 from $64 at UBS
UBS analyst Fatima Boolani raised her price target on CyberArk to $71 from $64 after meeting with management. The analyst cited better visibility into growth drivers, a sales organization on much more stable footing than a year ago, an easier to consume portfolio, and technical advancements that have removed adoption friction. Boolani reiterated her Buy rating on CyberArk shares.
07/17/18
NEED
07/17/18
NO CHANGE
Target $80
NEED
Buy
CyberArk price target raised to $80 from $62 at Needham
Needham analyst Alex Henderson raised his price target on CyberArk to $80 and kept his Buy rating, saying its valuation remains "well under" the security peer group average even though its growth rate is comparable and its operating margins are better than average. The analyst further states that his visits to over 25 security companies suggests a strong quarter for the industry after GDPR went into effect in May.
07/25/18
JMPS
07/25/18
NO CHANGE
JMPS
Outperform
Checks point to continued cybersecurity momentum, says JMP Securities
JMP Securities analyst Erik Suppiger said his industry checks lead him to believe the cybersecurity spending environment was robust in the June quarter and he raised his price target for CyberArk (CYBR) to $75 from $63 and his target for Fortinet (FTNT) to $78 from $58 to reflect his positive channel checks along with the appreciation of valuation multiples in the space. However, his checks on Extreme (EXTR) suggest the company's challenges with the integration of its recently acquired data center switching business continued this quarter and he trimmed his price target on the stock to $12 from $14. Suppiger keeps Outperform ratings on all three stocks mentioned above.
TWO Two Harbors
$14.70

-0.2 (-1.34%)

11/10/17
RILY
11/10/17
UPGRADE
RILY
Buy
Two Harbors upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Jessica Levi-Ribner upgraded Two Harbors to Buy.
11/10/17
RILY
11/10/17
UPGRADE
Target $16.5
RILY
Buy
Two Harbors upgraded to Buy on attractive valuation at B. Riley FBR
B. Riley FBR analyst Jessica Levi-Ribner upgraded Two Harbors Investment Corp. to Buy from Neutral while lowering her price target for the shares to $16.50 from $20. The analyst views the Q3 result as solid following the recent spin-out of Granite Point Mortgage Trust. The shares are as attractively valued, currently trading at a near-7% discount to book value, Levi-Ribner tells investors in a post-earnings research note.
12/07/17
KBWI
12/07/17
UPGRADE
Target $19.5
KBWI
Outperform
Granite Point upgraded to Outperform with $19.50 target at Keefe Bruyette
Keefe Bruyette analyst Jade Rahmani upgraded Granite Point Mortgage to Outperform from Market Perform with a price target of $19.50. The analyst believes the overhang from Two Harbors (TWO) and the company's "strong" management team present a buying opportunity at current share levels.
07/24/18
DBAB
07/24/18
DOWNGRADE
Target $15.5
DBAB
Hold
Two Harbors downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst George Bahamondes downgraded Two Harbors Investment to Hold with an unchanged price target of $15.50. The analyst sees limited upside to current valuation levels with the shares trading at a premium to book value.
ALB Albemarle
$92.78

0.1 (0.11%)

07/03/18
07/03/18
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. Albemarle (ALB) upgraded to Buy from Neutral at Goldman Sachs with analyst Robert Koort saying the selloff in companies tied to lithium is overdone. 2. Veon (VEON) upgraded to Overweight from Neutral at JPMorgan with analyst Alexei Gogolev stating that the company shed its Italian business at a "very attractive price". 3. Roku (ROKU) upgraded to Outperform from Perform at Oppenheimer with analyst Jason Helfstein saying the "rapid adoption" of The Roku Channel gives him incremental confidence in the channel's ability to garner viewership on other platforms. 4. Amedisys (AMED) upgraded to Buy from Neutral at BofA/Merrill with analyst Joanna Gajuk stating that last night's CMS proposal increased reimbursement visibility for the home health industry calling for a +2.1% rate update in 2019, the best update since 2007 following nine consecutive years of cuts. 5. NetEase (NTES) upgraded to Overweight from Underweight at JPMorgan with analyst Alex Yao saying he expects NetEase to end a six-quarter "earnings downgrade cycle" with its "lackluster" earnings growth starting to recover in Q2 and peaking in Q1 of 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/03/18
GSCO
07/03/18
UPGRADE
Target $125
GSCO
Buy
Albemarle upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Robert Koort upgraded Albemarle (ALB) to Buy and raised his price target for the shares to $125 from $123. The analyst also reiterates a Buy rating on FMC Corporation (FMC). The selloff in companies tied to lithium is overdone, Koort tells investors in a research note.
06/25/18
06/25/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Twilio (TWLO) initiated with an Overweight at Piper Jaffray. 2. Albemarle (ALB) initiated with a Buy at BofA/Merrill. 3. PVH Corp. (PVH) initiated with a Sell at Goldman Sachs. 4. New Relic (NEWR) initiated with a Buy at Deutsche Bank. 5. Alibaba (BABA) initiated with a Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/18
LOOP
06/26/18
NO CHANGE
Target $130
LOOP
Buy
Albemarle demand could surprise to the upside, says Loop Capital
Loop Capital analyst Christopher Kapsch kept his Buy rating and $130 price target on Albemarle, saying his takeaway from the conversations with the management ahead of the start of the Lithium Supply and Markets industrial conference suggests that the demand for the company's products could surprise to the upside. The analyst adds that his other discussions with industry players indicate that the "downstream conversion portion of the supply chain" should be in focus as it shows constraint in "satisfying the needs of key battery manufacturers addressing the EV market."
FOSL Fossil
$26.31

-2.32 (-8.10%)

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.
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.
07/09/18
KEYB
07/09/18
INITIATION
KEYB
Overweight
Fossil initiated with an Overweight at KeyBanc
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.
DXC DXC Technology
$87.05

0.16 (0.18%)

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.
07/13/18
SUSQ
07/13/18
NO CHANGE
Target $125
SUSQ
Positive
DXC Technology worth 'at least $102' in possible split, says Susquehanna
Susquehanna analyst James Friedman kept his Positive rating and $125 price target on DXC Technology, speculating that if the company tried to split the Growth business from its Core, he would value the assets at "at least $102" per share and possibly "much more". The analyst notes that a spin-off for Growth could add at least 20% to its value, and his discussions with CEO Lawrie in the past have suggested that he could split the company, with "one run for growth and the other run for margin."
07/17/18
WOLF
07/17/18
INITIATION
Target $120
WOLF
Outperform
DXC Technology initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated DXC Technology with an Outperform and $120 price target.
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).
HALO Halozyme
$17.62

0.1803 (1.03%)

01/24/18
GSCO
01/24/18
INITIATION
Target $20
GSCO
Neutral
Halozyme initiated with a Neutral at Goldman Sachs
Goldman analyst Dana Flanders initiated Halozyme with a Neutral and $20 price target.
01/24/18
DBAB
01/24/18
NO CHANGE
Target $21
DBAB
Buy
Halozyme target raised to $21 after investor meetings at Deutsche Bank
Deutsche Bank analyst Andrew Peters raised his price target for Halozyme shares to $21 from $19 after hosting investor meetings with management. The meetings offered a "robust reminder" of the strength of the company's dual-pillar strategy, Peters tells investors in a research note. The analyst believes Halozyme's Enhanze platform continues to be underappreciated by investors. He reiterates a Buy rating on the shares.
02/21/18
ADAM
02/21/18
NO CHANGE
Target $21
ADAM
Buy
Halozyme pipeline progress leads to price target increase at Canaccord
Canaccord analyst Arlinda Lee raised her price target on Halozyme to $21 from $19 citing its pipeline progress and steady Enhanze progress. Lee reiterated her Buy rating on Halozyme shares.
05/11/18
LEHM
05/11/18
DOWNGRADE
Target $19
LEHM
Underweight
Halozyme downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Gena Wang downgraded Halozyme Therapeutics to Underweight with a $19 price target. The analyst sees limited upside to revenue estimates in 2018 and "high risk" for the company's Phase 3 readout in pancreatic cancer.
DIOD Diodes
$37.70

0.95 (2.59%)

04/19/18
04/19/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Walmart (WMT) upgraded to Buy from Hold at Argus with analyst Christopher Graja saying he believes an improving job market should help low-and-middle-income shoppers spend more. 2. Sprint (S) upgraded to Neutral from Underperform at Macquarie. 3. iRobot (IRBT) upgraded to Overweight from Neutral at Piper Jaffray with analyst Troy Jensen saying tracking data shows iRobot is experiencing "exceptionally strong demand in North America." 4. Diodes (DIOD) upgraded to Buy from Neutral at Longbow with analyst Shawn Harrison saying he expects rising demand, pricing, and Pericom growth to drive sales, gross margins, and earnings higher. 5. Texas Capital (TCBI) upgraded to Overweight from Neutral at Piper Jaffray with analyst Brett Rabatin saying he sees Texas Capital outperforming peers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/18
04/19/18
UPGRADE
Target $37

Buy
Diodes upgraded to Buy on rising demand, pricing at Longbow
As previously reported, Longbow upgraded Diodes to Buy from Neutral with a $37 price target. Analyst Shawn Harrison expects rising demand, pricing, and Pericom growth to drive sales, gross margins, and earnings higher. In addition, Diodes should have a net positive cash position in 2H 2018, creating balance sheet flexibility for M&A, the analyst wrote in a note to investors.
04/19/18
LBOW
04/19/18
UPGRADE
LBOW
Buy
Diodes upgraded to Buy from Neutral at Longbow
06/07/18
SIDC
06/07/18
DOWNGRADE
SIDC
Neutral
Diodes downgraded to Neutral from Buy at Sidoti
AAXN Axon
$67.59

0.79 (1.18%)

07/02/18
07/02/18
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. Howard Hughes (HHC) initiated with a Buy at Jefferies. 2. Celyad (CYAD) initiated with a Buy at H.C. Wainwright. 3. Veoneer (VNE) initiated with a Sector Perform at RBC Capital. 4. Melinta Therapeutics (MLNT) initiated with an Overweight at Cantor Fitzgerald. 5. Axon (AAXN) initiated with an Overweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
NEED
07/20/18
INITIATION
Target $80
NEED
Buy
Axon initiated with a Buy at Needham
Needham analyst Scott Berg initiated Axon with a Buy rating and a price target of $80. Berg says the company's "bull case is compelling" as it leverages a dominant end-market position in TASER weapons to stake out a leading position in body cameras while also expanding into "the massive yet greenfield digital evidence management software space." The analyst contends that given Axon's "multi-prong, multi-year growth opportunity that lacks a significant competitive threat", its FY18 is the start of "a multi-year phase of margin expansion".
07/20/18
07/20/18
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. OneMain Holdings (OMF) reinstated with an Equal Weight at Barclays. 2. Viking Therapeutics (VKTX) initiated with a Buy at SunTrust. 3. Semtech (SMTC) initiated with a Buy at Stifel. 4. Axon (AAXN) initiated with a Buy at Needham. 5. Sonoma Pharmaceuticals (SNOA) assumed with a Speculative Buy at Benchmark. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/06/18
DOTC
08/06/18
DOWNGRADE
DOTC
Neutral
Axon downgraded to Neutral from Buy at Dougherty
SNAP Snap
$13.12

0.07 (0.54%)

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
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.
CUTR Cutera
$40.75

-0.15 (-0.37%)

03/13/18
03/13/18
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. Verizon (VZ), AT&T (T), and T-Mobile (TMUS) were initiated with a Buy at Guggenheim while Sprint (S) was initiated with a Sell. 2. CNO Financial (CNO) initiated with an Outperform at William Blair. 3. GMS Inc. (GMS) initiated with a Buy at Nomura Instinet. 4. Core Laboratories (CLB) assumed with a Neutral at Piper Jaffray. 5. Cutera (CUTR) initiated with an Overweight at Stephens. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/18
STFL
04/16/18
INITIATION
Target $55
STFL
Hold
Cutera initiated with a Hold at Stifel
Stifel analyst Jonathan Black initiated Cutera with a Hold and $55 price target.
03/13/18
SPHN
03/13/18
INITIATION
Target $60
SPHN
Overweight
Cutera initiated with an Overweight at Stephens
Stephens analyst Chris Cooley started Cutera with an Overweight rating and $60 price target, as he believes that the company can sustain or even improve on the momentum seen in the early innings of its "total corporate makeover." He also notes Cutera's valuation, which he says is at an approximate 30% to comparable peers in medical technology.
09/14/17
09/14/17
DOWNGRADE

Hold
Follow-up: Cutera downgraded to Hold from Buy at Maxim
As previously reported, Maxim downgraded Cutera to Hold from Buy with a $33 price target. Analyst Anthony Vendetti changed is view citing valuation and difficult year--over-year comps ahead.
BECN Beacon Roofing
$42.46

0.38 (0.90%)

07/12/18
WBLR
07/12/18
NO CHANGE
WBLR
Outperform
William Blair cautious into Beacon earnings after roofing survey
William Blair analyst Ryan Merkel says his firm's latest roofing survey was softer than expected for volumes and price/cost. The analyst lowered his 2018 earnings per share estimate for Beacon Roofing Supply to $3.05 and 2019 estimate to $4.21 and sees the company's fiscal Q3 earnings at $1.19, below the consensus at $1.33, due to lower sales and gross margin. While expectations are low, low-single-digit organic sales growth and negative price/cost of 40-60 basis points could cause shares to trade lower, Merkel tells investors in a pre-earnings research note. Ultimately, he believes a "softer 2018 is payback for a stellar roofing market in 2017." The analyst, however, does not think the core re-roofing market cycle is slowing and believes negative price/cost is temporary. While cautious into the Q3 earnings print, Merkel still sees upside in the stock to $47 using 10.5 times his 2019 adjusted EBITDA estimate. He keeps an Outperform rating on Beacon Roofing.
07/20/18
07/20/18
UPGRADE
Target $52

Overweight
Beacon Roofing upgraded to Overweight with $52 price target at Stephens
As previously reported, Stephens analyst Trey Grooms upgraded Beacon Roofing to Overweight from Equal Weight, pointing out that his industry checks show distributors have been able to make up some lost ground over the busier selling months and noting that roofing manufacturers have pushed through three separate price increases year-to-date and plan for another in the August/September time frame. While near-term volume "might not be anything to get overly excited about," he thinks the pricing and margin picture is improving, Grooms tells investors. He raised his price target on Beacon shares to $52 from $45
07/20/18
07/20/18
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. American Express (AXP) upgraded to Buy from Hold at DZ Bank. 2. Duke Energy (DUK) upgraded to Neutral from Sell at Citi with analyst Praful Mehta saying Duke has dealt with his primary concern about its credit following tax reform with its recent deals. 3. Anixter (AXE) upgraded to Buy from Neutral at Longbow with analyst Shawn Harrison citing checks which showed that North American enterprise spending accelerated as the second quarter progressed while industrial spending grew in the high-single to low double digits. 4. RLI Corp. (RLI) upgraded to Sector Perform from Underperform at RBC Capital with analyst Mark Dwelle saying the company has "resolved reserve and margin concerns" that previously drove his negative view, with the re-emergence of growth placing its earnings and return on equity on a more "favorable track." 5. Beacon Roofing (BECN) upgraded to Overweight from Equal Weight at Stephens with analyst Trey Grooms pointing out that his industry checks show distributors have been able to make up some lost ground over the busier selling months and noting that roofing manufacturers have pushed through three separate price increases year-to-date and plan for another in the August/September time frame. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
SPHN
07/20/18
UPGRADE
SPHN
Overweight
Beacon Roofing upgraded to Overweight from Equal Weight at Stephens
TWNK Hostess Brands
$13.94

-0.1703 (-1.21%)

05/22/18
05/22/18
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. Hostess Brands (TWNK) initiated with a Buy at Vertical Research. 2. DocuSign (DOCU) initiated with an Outperform at William Blair and JMP Securities, an Overweight at Piper Jaffray and JPMorgan, a Buy at Citi, an Equal Weight at Morgan Stanley, and a Hold at Deutsche Bank. 3. Goosehead Insurance (GSHD) was initiated with an Outperform at Keefe Bruyette, an Overweight at JPMorgan, and a Buy at BofA/Merrill. 4. Smartsheet (SMAR) was initiated with an Outperform at William Blair and RBC Capital, an Overweight at JPMorgan and Morgan Stanley, as well as a Buy at Jefferies, SunTrust, and Canaccord. Lamb Weston (LW) initiated with a Sell at Vertical Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/21/18
05/21/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hostess Brands (TWNK) initiated with a Buy at Berenberg while Flowers Foods (FLO) was initiated with a Hold. 2. Ceridian (CDAY) initiated with an Overweight at Piper Jaffray and MUFG, an Outperform at Wells Fargo, an Equal Weight at Barclays, a Neutral at JPMorgan and Goldman Sachs, a Market Perform at William Blair, as well as a Hold at Deutsche Bank, Canaccord, and Jefferies. 3. nLight (LASR) initiated with an Outperform at Raymond James as well as a Buy at Needham, Canaccord, Stifel, and DA Davidson. 4. VF Corp. (VFC) initiated with a Buy at Argus. 5. Chemours (CC) initiated with a Buy at Vertical Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/21/18
BREN
05/21/18
INITIATION
Target $19
BREN
Hold
Flowers Foods initiated with a Hold at Berenberg
Berenberg analyst Adam Mizrahi started Flowers Foods (FLO) with a Hold rating and $19 price target. The company's earnings uplift visibility from Project Centennial is limited, Mizrahi tells investors in a research note. He prefers shares of Hostess Brands (TWNK) over Flowers Foods.
05/21/18
VERT
05/21/18
INITIATION
VERT
Buy
Hostess Brands initiated with a Buy at Vertical Research
PZZA Papa John's
$41.05

-1.25 (-2.96%)

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
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.
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.
PRTA Prothena
$14.29

0.43 (3.10%)

05/21/18
LEHM
05/21/18
DOWNGRADE
Target $12
LEHM
Underweight
Prothena downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Geoffrey Meacham downgraded Prothena to Underweight and cut his price target for the shares to $12 from $14. The analyst sees limited value creating pipeline events in the near-term after the company discontinued development of NEOD001, an investigational antibody that was being evaluated for the treatment of AL amyloidosis. He believes it remains too early to assign much value to PRX002 in Parkinson's or PRX004 in ATTR amyloidosis.
06/15/18
CANT
06/15/18
NO CHANGE
Target $18
CANT
Overweight
Prothena price target raised to $18 from $14 at Cantor Fitzgerald
Cantor Fitzgerald analyst William Tanner raised his price target for Prothena to $18 citing his analysis of the potential value of the company's drug discovery platform and management's recently announced restructuring plan. The analyst reiterates a Overweight rating on the shares.
04/24/18
BTIG
04/24/18
DOWNGRADE
BTIG
Neutral
Prothena downgraded to Neutral from Buy at BTIG
BTIG analyst Robert Hazlett downgraded Prothena to Neutral from Buy after the PRONTO study read out negatively, which led directly to the discontinuation of the entire NEOD001 program. Despite noting that the company has programs "that appear quite promising," Hazlett prefers to move to the sidelines with important catalysts now farther out, with a readout for its 002 program in Parkinson's due in 2020.
04/24/18
04/24/18
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. Alcoa (AA) downgraded to Neutral from Buy at Citi with analyst Alexander Hacking saying the stock is up 60% year-over-year. 2. Dynagas LNG (DLNG) downgraded to Underperform from Market Perform at Wells Fargo with analyst Michael Webber saying another distribution cut is possible given expensive dropdowns from the company's private sponsor. 3. Skyworks (SWKS) downgraded to Neutral from Buy at Mizuho with analyst Vijay Rakesh saying the effects of a maturing handset cycle could start to impact the RF suppliers. 4. Prothena (PRTA) downgraded to Neutral from Buy at BTIG and to Perform from Outperform at Oppenheimer. 5. Donegal Group (DGICA) downgraded to Neutral from Outperform at Boenning & Scattergood. 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
$38.92

3.15 (8.81%)

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
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.
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.
PE Parsley Energy
$31.72

0.35 (1.12%)

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.
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.
CWH Camping World
$22.21

0.71 (3.30%)

05/09/18
KEYB
05/09/18
NO CHANGE
Target $38
KEYB
Overweight
Camping World price target lowered to $38 from $52 at KeyBanc
KeyBanc analyst Brett Andress lowered his price target for Camping World to $38 from $52 as RV sentiment purgatory lingers, weighing on near-term multiple expansion ahead of seasonal catalysts. The analyst reiterates an Overweight rating on the shares.
05/09/18
FBCO
05/09/18
NO CHANGE
Target $42
FBCO
Outperform
Camping World price target lowered to $42 from $52 at Credit Suisse
Credit Suisse analyst Seth Sigman lowered his price target for Camping World to $42 from $52 as he believes the stock may be range bound short term until there is evidence of accelerating demand after a lackluster Q1, and until there is visibility into the real startup costs for Gander and EBITDA outlook for Q2. The analyst reiterates an Outperform rating on the shares.
05/09/18
BARD
05/09/18
NO CHANGE
Target $35
BARD
Outperform
Camping World price target lowered to $35 from $52 at Baird
Baird analyst Craig Kennison lowered his price target on Camping World to $35 from $52. The analyst noted the company reported inline Q1 results but investor sentiment soured when they focused on slower new unit growth, a metric that historically had outpaced the industry's growth. Kennison maintained his Outperform rating on Camping World shares.
05/09/18
BMOC
05/09/18
NO CHANGE
Target $42
BMOC
Outperform
Camping World price target lowered to $42 from $62 at BMO Capital
BMO Capital analyst Gerrick Johnson lowered his price target on Camping World to $42 after its "slight" earnings miss in Q1 along with trailing comps relative to the overall market. The analyst notes that investors' concerns around the delay of Gander Outdoors rollout has been heightened but keeps his Outperform rating, expecting the RV industry conditions to remain strong with "normalized" results over the course of the year.
EVH Evolent Health
$20.20

-0.75 (-3.58%)

07/16/18
OPCO
07/16/18
NO CHANGE
OPCO
Tailwinds ahead for Cerner, Premier, says Oppenheimer
Oppenheimer analyst Mohan Naidu says his survey of 49 C-level executives in hospital systems shows a high inclination toward risk-based contracting. The current level of at-risk lives is expected to grow about 2.5 times to 33% in the next five years, he notes. While at-risk programs are led by managed Medicaid contracts today, the analyst sees upside for Medicare next-generation ACOs, given recent commentary from Washington around two-sided risk. Naidu believes the expectations of increasing mix of at-risk lives will be a tailwind for pop health solutions vendors such as Cerner (CERN), Evolent Health (EVH) and Premier (PINC).
07/02/18
PIPR
07/02/18
NO CHANGE
Target $30
PIPR
Overweight
Evolent Health work requirement ruling mitigates risk, says Piper Jaffray
Piper Jaffray analyst Sean Wieland kept his Overweight rating and $30 price target on Evolent Health, saying the ruling by a federal judge in Kentucky to vacate the approval for Medicaid work requirement waiver secures continued coverage and mitigates the risk for the company in that state. The analyst notes that further regulatory changes are now expected to boost Evolent's value proposition and boost demand for its services.
06/18/18
OPCO
06/18/18
NO CHANGE
Target $31
OPCO
Outperform
Evolent Health price target raised to $31 from $22 at Oppenheimer
Oppenheimer analyst Mohan Naidu raised his price target for Evolent Health to $31 from $22 as his analysis of Medicare next Gen ACO shows sizable opportunity, and as the push in Medicare and Medicaid will likely lead to more deal flow in the following quarters. The analyst reiterates an Outperform rating on the shares.
06/18/18
PIPR
06/18/18
NO CHANGE
Target $30
PIPR
Overweight
Evolent Health Deaconess Care integration sees early success, says Piper Jaffray
Piper Jaffray analyst Sean Wieland kept his Overweight rating and $30 price target on Evolent Health, saying the company's ACO (Accountable Care Organization) launched for Deaconess Care Integration is seeing an early and sustainable success. The analyst believes the company is "well positioned for growth" as more providers take on the two-sided risk.
JAZZ Jazz Pharmaceuticals
$180.00

3.54 (2.01%)

07/16/18
CANT
07/16/18
NO CHANGE
Target $203
CANT
Overweight
Cantor sees 'meaningful upside' in shares of Jazz Pharmaceuticals
Cantor Fitzgerald analyst William Tanner sees "meaningful upside" in shares of Jazz Pharmaceuticals from current levels. The analyst views recent legal developments as positive, "on balance," and thinks any announcement on the business development front "could be a major incremental driver of positive sentiment." He reiterates an Overweight rating on Jazz with a $203 price target.
07/13/18
WELS
07/13/18
NO CHANGE
Target $182
WELS
Outperform
Jazz 'confident' in defending Xyrem in District Court, says Wells Fargo
Following news that the U.S. Court of Appeals for the Federal Circuit affirmed a series of rulings in favor of Amneal Pharmaceuticals (AMRX) that patents owned by Jazz Pharmaceuticals (JAZZ) related to its Xyrem drug are invalid, Wells Fargo analyst David Maris tells investors in a research note that he spoke with Jazz this morning and they said they "feel confident" in defending Xyrem in the District Court should the case go to trial. Additionally, Jazz, which said a trial date has not yet been set, said they have now settled with 8 out of 9 of the District Court challenges. Maris believes the reaction today is "overdone," as Jazz still has a strong portfolio to defend Xyrem and the company has shown a clear willingness to settle.
07/16/18
PIPR
07/16/18
NO CHANGE
Target $211
PIPR
Overweight
Jazz court ruling does not threaten Xyrem durability, says Piper Jaffray
A federal appellate court on Friday affirmed that certain claims surrounding a number of patents covering Jazz Pharmaceuticals' Xyrem REMS program are invalid, Piper Jaffray analyst David Amsellem tells investors in a research note. The analyst would not view the decision as a threat to the durability of Xyrem out to 2023. He continues to believe that Jazz's visibility into earnings growth in the double-digits is high, owing to contribution from newer products. Amsellem believes the company has "significant room for further value creation" and keeps an Overweight rating on Jazz with a $211 price target.
XEC Cimarex Energy
$97.48

2.38 (2.50%)

06/11/18
JEFF
06/11/18
UPGRADE
Target $107
JEFF
Buy
Cimarex Energy upgraded to Buy from Hold at Jefferies
Jefferies analyst Mark Lear upgraded Cimarex Energy to Buy and raised his price target for the shares to $107 from $98.
06/11/18
JEFF
06/11/18
NO CHANGE
JEFF
Jefferies upgrades Cimarex to Buy, downgrades Oasis to Hold
Jefferies analyst Mark Lear upgraded Cimarex Energy (XEC) to Buy from Hold and raised his price target for the shares to $107 from $98. The analyst also downgraded Oasis Petroleum (OAS) to Hold from Buy with an unchanged price target of $14. Infrastructure constraints and wider regional basis have raised growth concerns across the Permian and driven stocks to "irrational valuations," Lear tells investors in a research note. Jefferies also raised its per-barrel Brent price forecast to $77 from $64 in 2018; to $75 from $60 in 2019; and to $70 from $65 in 2020. He notes shares of Cimarex now trade at "more than half a turn discount" to the group on consensus 2018 and 2020 EBITDA. Lear believes Cimarex's recent moves to address gas flow assurance in tandem with strategic partnerships in the Permian "provide some level of relative safety on the company's ability to maintain capital guidance." The analyst cites valuation for his downgrade of Cimarex following the stock's outperformance year-to-date.
06/19/18
COWN
06/19/18
NO CHANGE
Target $130
COWN
Outperform
Cimarex Energy second half ramp fears overdone, says Cowen
Cowen analyst Charles Robertson said investor fears about the second half ramp at Cimarex Energy are overdone since the company has the firm capacity to achieve its 2018-2019 production growth and the company maintains a very strong balance sheet. Robertson reiterated his Outperform rating and raised his price target to $130 from $115 on Cimarex Energy shares.
06/21/18
BOFA
06/21/18
UPGRADE
BOFA
Buy
Cimarex Energy upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Doug Leggate upgraded Cimarex Energy to BUy from Neutral with a new price target of $127, down from $132, citing attractive valuation, growth outlook, and solid balance sheet. The analyst believes Cimarex's valuation dislocation is "overdone," while the fundamental investment case is unchanged.
VSLR Vivint Solar
$5.50

0.05 (0.92%)

06/22/18
GUGG
06/22/18
UPGRADE
GUGG
Buy
Vivint Solar upgraded to Buy from Neutral at Guggenheim
06/07/18
FBCO
06/07/18
NO CHANGE
FBCO
Low cost solar manufacturers to fare better amid China's new policy, says Credit Suisse
Credit Suisse analyst Michael Weinstein notes that solar manufacturers reacted negatively this week as expected to China's solar subsidy pull-back. The analyst believes low cost solar manufacturers will fare better than tier 2/3 suppliers and could potentially benefit from sector consolidation in this cycle. However, lower module prices would imply breakeven operating margin for most manufacturers, reminiscent of weaker margins in prior trough cycles, he contends. Weinstein prefers downstream solar developers such as Sunrun (RUN), Vivint Solar (VSLR), and Azure Power (AZRE), which benefit from further decline in solar equipment prices and are more insulated from volatility in global trade policies and energy prices.
06/22/18
GUGG
06/22/18
UPGRADE
Target $5
GUGG
Buy
Vivint Solar upgraded to Buy on an improving outlook at Guggenheim
As previously reported, Guggenheim upgraded Vivint Solar to Buy from Neutral and raised its price target to $6 from $5. Analyst Sophie Karp came away from yesterday's management meetings with increased confidence the company has turned the corner given the improving cost of capital on the back of recent financing, an improving near-term growth profile as California builders move forward with solar installations on new homes ahead of the 2020 mandate, and a generally favorable regulatory and macro outlook.
07/18/18
GSCO
07/18/18
DOWNGRADE
Target $15
GSCO
Neutral
Sunrun downgraded to Neutral at Goldman Sachs on valuation
As reported earlier, Goldman Sachs analyst Brian Lee downgraded Sunrun to Neutral from Buy as part of his broader research note on the solar sector and also kept his price target at $15 citing valuation on the stock. The analyst states that Sunrun has already run up 160% year to date and also cites the shift in China's solar policy in late May along with the ensuing price collapse across the supply chain toward quarter-end, which raises the risk of margin misses and weaker Q3 guidance. Lee adds that China-levered names like Jinko Solar (JKS) and Canadian Solar (CSIQ) thus face particularly challenging demand outlooks. The analyst has the most constructive view on the U.S. residential installer Vivint Solar (VSLR), which stands to "benefit from lower module costs and what we expect could close the valuation gap relative to peers.
KRO Kronos Worldwide
$22.57

0.27 (1.21%)

10/11/17
RHCO
10/11/17
NO CHANGE
Target $24
RHCO
Hold
Kronos Worldwide price target raised to $24 from $21 at SunTrust
SunTrust analyst James Sheehan raised his price target on Kronos Worldwide (KRO) to $24 from $21, citing expectations of titanium dioxide pricing strength for the rest of the year and less competition from China. Sheehan notes that Chinese environmental restrictions are impacting TiO2 production, resulting in plant suspensions and shutdowns. The analyst maintains a Hold rating on the stock given a more fair valuation relative to peer Venator (VNTR).
05/23/18
DBAB
05/23/18
UPGRADE
Target $28
DBAB
Buy
Kronos Worldwide upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst David Begleiter upgraded Kronos Worldwide to Buy and raised his price target for the shares to $28 from $8. The analyst views the company's cash return story as "powerful."
05/23/18
DBAB
05/23/18
UPGRADE
Target $28
DBAB
Buy
Kronos Worldwide upgraded to Buy with $28 target at Deutsche Bank
Deutsche Bank analyst David Begleiter upgraded Kronos Worldwide to Buy from Hold and raised his price target for the shares to $28 from $8. The combination of "healthy" demand and limited new supply will result in TiO2 earnings plateauing at current levels for the next two-to-three years, Begleiter tells investors in a research note.
SIEN Sientra
$21.33

0.38 (1.81%)

06/04/18
CHLM
06/04/18
INITIATION
Target $23
CHLM
Buy
Sientra initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Alexander Nowak started Sientra with a Buy rating and $23 price target saying the company's "superior and safer" 5th generation breast implant is back on the market and set to recapture share. Further, the analyst believes revenue is likely tripling by 2020.
06/08/18
MAXM
06/08/18
DOWNGRADE
MAXM
Hold
Sientra downgraded to Hold from Buy at Maxim
06/08/18
MAXM
06/08/18
DOWNGRADE
MAXM
Hold
Sientra downgraded to Hold from Buy at Maxim
As previously reported, Maxim analyst Anthony Vendetti downgraded Sientra to Hold from Buy, telling investors that while he is optimistic on Sientra's long-term prospects, the valuation is significantly ahead of peer averages and the stock price has exceeded his 12-month target.
06/08/18
06/08/18
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. Petrobras (PBR) downgraded to Neutral from Buy at UBS with analyst Luiz Carvalho citing reduced visibility on its long-term pricing policy after the company recently reduced prices, which significantly lowered the chances of the company selling its refining assets, keeping it a monopoly, and exposed it to possible interference depending on the government's policy approach and macro conditions. 2. Domino's Pizza (DPZ) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying the company's comp performance and market share gains in the U.S., accelerated unit development worldwide, and mostly favorable cost outlook warrant a premium multiple, but believes these positives have been priced into shares. 3. Noble Energy (NBL) downgraded to Hold from Buy at Tudor Pickering. 4. Sientra (SIEN) downgraded to Hold from Buy at Maxim with analyst Anthony Vendetti saying that while he is optimistic on Sientra's long-term prospects, the valuation is significantly ahead of peer averages and the stock price has exceeded his 12-month target. 5. Quanex (NX) downgraded to Neutral from Buy at Sidoti. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MXL MaxLinear
$17.90

0.59 (3.41%)

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.
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.
06/29/18
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.
DHT DHT Holdings
$4.45

0.06 (1.37%)

07/24/18
EVER
07/24/18
DOWNGRADE
EVER
In Line
DHT Holdings downgraded to In Line from Outperform at Evercore ISI
06/18/18
WELS
06/18/18
UPGRADE
WELS
Outperform
DHT Holdings upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Michael Webber upgraded DHT Holdings to Outperform and raised his price target for the shares to $7 from $5. The analyst believes the Tanker group is "uniquely positioned" to benefit from both a likely OPEC production increase in June and "potentially significant" IMO 2020 tailwinds. IMO 2020-driven ton-mile and floating storage catalysts could create a "thematic bid for the sector," with near-trough level net asset values helping to limit downside risks, Webber tells investors in a research note.
04/20/18
04/20/18
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. Procter & Gamble (PG) downgraded to Neutral from Buy at BofA/Merrill and to Hold from Buy at Deutsche Bank aw well as Argus. 2. Philip Morris (PM) downgraded to Buy from Conviction Buy at Goldman Sachs and to Underperform from Neutral at BofA/Merrill. 3. DHT Holdings (DHT) downgraded to Neutral from Overweight at JPMorgan with analyst Noah Parquette saying he has become more constructive on a crude tanker recovery in 2019 but cites relative valuation for the downgrade on DHT. 4. Skechers (SKX) downgraded to Neutral from Outperform at Wedbush with analyst Christopher Svezia citing the company's first quarter results. 5. Tyson Foods (TSN) downgraded to Hold from Buy at Vertical Group. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/18
JPMS
04/20/18
DOWNGRADE
Target $5
JPMS
Neutral
DHT Holdings downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Noah Parquette downgraded DHT Holdings to Neutral with a $5 price target. The analyst has become more constructive on a crude tanker recovery in 2019 but cites relative valuation for the downgrade on DHT.
CPST Capstone Turbine
$1.42

0.05 (3.65%)

06/15/18
LSCM
06/15/18
INITIATION
Target $3
LSCM
Buy
Capstone Turbine initiated with a Buy at Lake Street
Lake Street analyst Robert Brown initiated Capstone Turbine with a Buy rating and $3 price target, stating that believes the company has significantly improved its operating profile and business model over the past 18 months and that these changes should start to show in results this year.
08/01/18
MAXM
08/01/18
INITIATION
MAXM
Buy
Capstone Turbine initiated with a Buy at Maxim
08/01/18
08/01/18
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. Capstone Turbine (CPST) initiated with a Buy at Maxim. 2. Lilis Energy (LLEX) initiated with a Buy at Stifel. 3. SS&C (SSNC) assumed with an Overweight at JPMorgan. 4. Magnolia Oil & Gas (MGY) initiated with an Outperform at Imperial Capital. 5. Fate Therapeutics (FATE) initiated with a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/01/18
MAXM
08/01/18
INITIATION
Target $2.5
MAXM
Buy
Capstone Turbine initiated with a Buy at Maxim
Maxim analyst James Jang initiated Capstone Turbine with a Buy rating and a price target of $2.50. The analyst notes that the company's market divsersification should support its revenue expansion trend as it builds sales momentum. Jang further states that the shale oil industry is a key driver for Capstone's growth as its microturbines allow for reduced operating costs for its customers.
CLNE Clean Energy
$2.74

-0.005 (-0.18%)

07/06/18
CHLM
07/06/18
NO CHANGE
Target $6
CHLM
Buy
Clean Energy weakness related to competitor downgrade overdone says Craig-Hallum
Craig-Hallum analyst Eric Stine backed a Buy rating on Clean Energy, telling investors in a research note that he believes weakness related to a competitor downgrade is overdone. While he says that the renewal of the advanced fuel tax credit, or AFTC, for 2018 is possible, it is far from a certainty and is not factored into the outlook going forward. He believers CNG will remain the dominant alternative to diesel in transit applications, with electric having a much higher first cost and being dependent on incentives. Stine has a $6 price target on Clean Energy shares.
07/05/18
07/05/18
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. Munich Re (MURGY) downgraded to Neutral from Overweight at JPMorgan. 2. Domino's Pizza Enterprises (DPZUF) downgraded to Sell from Neutral at Citi. 3. NextEra Energy downgraded to Market Perform from Outperform at Raymond James with analyst Pavel Molchanov saying NextEra's 3.6% yield is the lowest among yieldcos and he recommends waiting for a better entry point. 4. Clean Energy (CLNE) downgraded to Underperform from Market Perform at Raymond James with analyst Pavel Molchanov saying he believes shares reflect "excessive euphoria" over the partnership with Total (TOT). 5. Fresenius Medical (FMS) downgraded to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/05/18
RAJA
07/05/18
DOWNGRADE
RAJA
Underperform
Clean Energy downgraded to Underperform from Market Perform at Raymond James
07/05/18
RAJA
07/05/18
DOWNGRADE
RAJA
Underperform
Clean Energy downgraded to Underperform, valuation excessive, says Raymond James
As previously reported, Raymond James downgraded Clean Energy (CLNE) to Underperform from Market Perform. Analyst Pavel Molchanov believes shares reflect "excessive euphoria" over the partnership with Total (TOT) and said the main business of supplying CNG to municipal bus fleets faces increasing headwinds from electric bus adoption.
LC LendingClub
$4.10

0.14 (3.54%)

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.
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
BLDR Builders FirstSource
$17.80

0.06 (0.34%)

06/28/18
MKMP
06/28/18
INITIATION
Target $20
MKMP
Neutral
Builders FirstSource initiated with a Neutral at MKM Partners
As reported earlier, MKM Partners analyst Megan McGrath initiated Builders FirstSource with a Neutral rating and a price target of $20. The analyst notes that while the stock price has already discounted higher lumber prices and risks around higher mortgage rates, continued volatility in lumber distributor shares is likely to continue as lumber prices continue to rise. McGrath adds that if those prices and/or mortgage rates start to stabilize, she may turn more constructive on Builders FirstSource.
06/27/18
MKMP
06/27/18
INITIATION
MKMP
Neutral
Builders FirstSource initiated with a Neutral at MKM Partners
01/12/18
WEDB
01/12/18
NO CHANGE
Target $30
WEDB
Outperform
Builders FirstSource price target raised to $30 from $22 at Wedbush
Wedbush analyst Jay McCanless increased his price target on Builders FirstSource to $30, as he believes stabilizing lumber prices, better renovation and remodel indicators and improving single family indicators should be demand catalysts for the company and the housing industry. He maintains an Outperform rating on the stock.
06/27/18
RBCM
06/27/18
INITIATION
RBCM
Outperform
Builders FirstSource initiated with an Outperform at RBC Capital
RBC Capital analyst Michael Dahl initiated Builders FirstSource with an Outperform rating and a $25 price target, citing the company's "blend of organic growth potential, self-help margin opportunity, and upside from de-leveraging," as well as the analyst's expectations for strong free cash flow and accelerating margin improvement in the second half of FY18 and FY19.
PXD Pioneer Natural
$186.59

0.45 (0.24%)

07/24/18
KLRG
07/24/18
UPGRADE
KLRG
Buy
Pioneer Natural upgraded to Buy from Hold at KLR Group
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.
07/23/18
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.
07/12/18
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.
DIS Disney
$116.57

0.6 (0.52%)

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".
07/13/18
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.
07/20/18
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.
07/17/18
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.

TODAY'S FREE FLY STORIES

QRVO

Qorvo

$63.45

-0.35 (-0.55%)

, AAPL

Apple

$193.43

-0.725 (-0.37%)

14:51
11/13/18
11/13
14:51
11/13/18
14:51
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Qorvo, Apple, Lumentum, Skyworks, Cirrus Logic, Broadcom analyst commentary  »

After Qorvo warns, MKM…

QRVO

Qorvo

$63.45

-0.35 (-0.55%)

AAPL

Apple

$193.43

-0.725 (-0.37%)

LITE

Lumentum

$38.92

1.415 (3.77%)

SWKS

Skyworks

$72.16

-0.61 (-0.84%)

CRUS

Cirrus Logic

$37.63

1.99 (5.58%)

AVGO

Broadcom

$224.39

0.84 (0.38%)

03/08/13
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  • 13

    Nov

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  • 19

    Nov

  • 06

    Dec

QRVO

Qorvo

$63.36

-0.44 (-0.69%)

, AAPL

Apple

$193.50

-0.655 (-0.34%)

14:51
11/13/18
11/13
14:51
11/13/18
14:51
Recommendations
Qorvo, Apple analyst commentary  »

JPMorgan sees…

QRVO

Qorvo

$63.36

-0.44 (-0.69%)

AAPL

Apple

$193.50

-0.655 (-0.34%)

03/08/13
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  • 13

    Nov

  • 14

    Nov

AMRS

Amyris

$6.05

0.19 (3.24%)

14:49
11/13/18
11/13
14:49
11/13/18
14:49
Options
Amyris options imply 19.1% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 13

    Nov

BA

Boeing

$347.91

-9.02 (-2.53%)

14:46
11/13/18
11/13
14:46
11/13/18
14:46
Periodicals
Pilots claim Boeing Lion Air crash linked to improper training, FT reports »

Pilot associations said…

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AAPL

Apple

$193.31

-0.845 (-0.44%)

14:45
11/13/18
11/13
14:45
11/13/18
14:45
Technical Analysis
Technical Take: Apple moves lower after rally fails »

The shares were last down…

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  • 13

    Nov

  • 14

    Nov

XLK

Technology Select Sector SPDR

$67.49

0.08 (0.12%)

14:40
11/13/18
11/13
14:40
11/13/18
14:40
Options
Aggressive call buying in SPDR Tech Fund »

Aggressive call buying in…

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QRVO

Qorvo

, AAPL

Apple

$192.80

-1.355 (-0.70%)

14:37
11/13/18
11/13
14:37
11/13/18
14:37
Recommendations
Qorvo, Apple analyst commentary  »

Qorvo price target…

QRVO

Qorvo

AAPL

Apple

$192.80

-1.355 (-0.70%)

03/08/13
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  • 13

    Nov

  • 14

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TEUM

Pareteum

$1.87

-0.26 (-12.21%)

, IPAS

iPass

$1.14

(0.00%)

14:37
11/13/18
11/13
14:37
11/13/18
14:37
Recommendations
Pareteum, iPass analyst commentary  »

Pareteum price target…

TEUM

Pareteum

$1.87

-0.26 (-12.21%)

IPAS

iPass

$1.14

(0.00%)

03/08/13
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  • 13

    Nov

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  • 15

    Nov

CF

CF Industries

$50.26

-1.03 (-2.01%)

14:35
11/13/18
11/13
14:35
11/13/18
14:35
Options
CF Industries put volume heavy and directionally bearish »

Bearish flow noted in CF…

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  • 13

    Nov

LVS

Las Vegas Sands

$51.96

0.995 (1.95%)

14:25
11/13/18
11/13
14:25
11/13/18
14:25
Options
Las Vegas Sands call volume above normal and directionally bullish »

Bullish option flow…

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14:25
11/13/18
11/13
14:25
11/13/18
14:25
General news
Treasury Action: yields remained remained lower »

Treasury Action: yields…

VOYA

Voya Financial

$45.49

0.905 (2.03%)

14:24
11/13/18
11/13
14:24
11/13/18
14:24
Recommendations
Voya Financial analyst commentary  »

Voya Financial updated…

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  • 13

    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
11/13/18
11/13
14:17
11/13/18
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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BLDP

Ballard Power

$3.07

0.11 (3.72%)

14:16
11/13/18
11/13
14:16
11/13/18
14:16
Hot Stocks
Ballard Power announces closing of strategic collaboration with Weichai Power »

Ballard Power Systems…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
11/13/18
11/13
14:16
11/13/18
14:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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14:15
11/13/18
11/13
14:15
11/13/18
14:15
General news
U.S. Treasury budget deficit widened to $100 B »

U.S. Treasury budget…

APTI

Apptio

$37.76

0.12 (0.32%)

14:10
11/13/18
11/13
14:10
11/13/18
14:10
Options
Aptio attracts call buying after reports of takeover interest »

Aptio attracts call…

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  • 13

    Nov

14:10
11/13/18
11/13
14:10
11/13/18
14:10
General news
U.S. Treasury budget preview: »

U.S. Treasury budget…

BAIRY

British Airways

$0.00

(0.00%)

, ICAGY

IAG

$0.00

(0.00%)

14:10
11/13/18
11/13
14:10
11/13/18
14:10
Hot Stocks
British Airways, Iberia Airlines to pay $5.8M to settle False Claims Act charges »

The Justice Department…

BAIRY

British Airways

$0.00

(0.00%)

ICAGY

IAG

$0.00

(0.00%)

03/08/13
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SBGI

Sinclair Broadcast

$31.45

0.17 (0.54%)

, TRCO

Tribune Media

$38.90

-0.455 (-1.16%)

14:09
11/13/18
11/13
14:09
11/13/18
14:09
Hot Stocks
DOJ confirms settlement with Sinclair, Tribune, Meredith, others »

The Department of Justice…

SBGI

Sinclair Broadcast

$31.45

0.17 (0.54%)

TRCO

Tribune Media

$38.90

-0.455 (-1.16%)

MDP

Meredith

$57.04

(0.00%)

03/08/13
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03/06/13
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  • 13

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  • 15

    Nov

OAS

Oasis Petroleum

$8.43

-0.33 (-3.77%)

14:05
11/13/18
11/13
14:05
11/13/18
14:05
Options
Oasis Petroleum call volume above normal and directionally bullish »

Bullish option flow…

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  • 26

    Nov

  • 04

    Dec

14:05
11/13/18
11/13
14:05
11/13/18
14:05
General news
Breaking General news story  »

Philadelphia Federal…

14:04
11/13/18
11/13
14:04
11/13/18
14:04
General news
Treasury Budget data reported »

October Treasury Budget…

VET

Vermilion Energy

$23.53

-0.01 (-0.04%)

14:02
11/13/18
11/13
14:02
11/13/18
14:02
Upgrade
Vermilion Energy rating change  »

Vermilion Energy upgraded…

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14:00
11/13/18
11/13
14:00
11/13/18
14:00
General news
Oil Action: WTI crude »

Oil Action: WTI crude…

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