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SBGI

Sinclair Broadcast

$27.15

1.25 (4.83%)

, TRCO

Tribune Media

$33.69

0.49 (1.48%)

09:03
08/09/18
08/09
09:03
08/09/18
09:03

Fly Intel: Pre-market Movers

UP AFTER EARNINGS: Yelp (YELP), up 16%... Carvana (CVNA), up 15%... Roku (ROKU), up 12%... Jack in the Box (JACK), up 7%. ALSO HIGHER: Belmond (BEL), up 28% after announcing that its board has initiated a comprehensive review of strategic alternatives to enhance shareholder value... Dun & Bradstreet (DNB), up 17% after agreeing to be acquired by an investor group led by CC Capital, Cannae Holdings and funds affiliated with Thomas H. Lee Partners for $145.00 in cash in a transaction valued at $6.9B including the assumption of debt and pension obligations. DOWN AFTER EARNINGS: e.l.f. Beauty (ELF), down 20%... Booking (BKNG), down 7%... Perrigo (PRGO), down 7%. ALSO LOWER: Sinclair Broadcast (SBGI), down 3% after Tribune Media (TRCO) terminates merger agreement... Rite Aid (RAD), down 12% after announcing that it has mutually agreed with Albertsons Companies to terminate their previously announced merger agreement... Stamps.com (STMP), down 14% after discussing risk that USPS may renegotiate compensation arrangements in a regulatory filing... ON Semiconductor (ON), down 4% after the stock was downgraded to Underweight at Morgan Stanley... Seagate (STX), down 4% after Goldman Sachs downgraded the stock to Sell.

SBGI

Sinclair Broadcast

$27.15

1.25 (4.83%)

TRCO

Tribune Media

$33.69

0.49 (1.48%)

RAD

Rite Aid

$1.75

0.03 (1.75%)

BKNG

Booking Holdings

$2,042.16

-37.07 (-1.78%)

YELP

Yelp

$38.10

-0.545 (-1.41%)

ELF

e.l.f. Beauty

$14.90

0.44 (3.04%)

BEL

Belmond

$11.10

-0.05 (-0.45%)

DNB

Dun & Bradstreet

$122.80

-3 (-2.38%)

CVNA

Carvana

$47.00

-0.17 (-0.36%)

ROKU

Roku

$47.26

-0.18 (-0.38%)

JACK

Jack in the Box

$85.75

0.08 (0.09%)

STMP

Stamps.com

$255.20

-8 (-3.04%)

ON

ON Semiconductor

$22.42

(0.00%)

STX

Seagate

$55.06

0.2 (0.36%)

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SBGI Sinclair Broadcast
$27.15

1.25 (4.83%)

07/19/18
SPHN
07/19/18
DOWNGRADE
Target $37
SPHN
Equal Weight
Tribune Media downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Kyle Evans downgraded Tribune Media (TRCO) to Equal Weight from Overweight after the FCC announced last night that it has adopt a Hearing Designation Order for the Sinclair Broadcast (SBGI) deal. He had hoped the revised divestiture plan would eliminate the need for an HDO, but now that it has been adopted he is more worried that there could be character issues standing in the way of the deal being closed. Evans lowered his price target on Tribune shares to $37 from $41.
07/27/18
SPHN
07/27/18
NO CHANGE
SPHN
Reported DOJ investigation likely to pressure broadcaster stocks, says Stephens
After The Wall Street Journal reported yesterday that the Department of Justice is investigating whether TV station owners violated antitrust law in ways that inflated local ad prices, Stephens analyst Kyle Evans said that the negative news is likely to further pressure a group that he sees being "hard to own in any quarter." Evans added that, in his view, any miss within the group seems to drag them all down. Publicly traded broadcasters include Sinclair (SBGI), Tribune Media (TRCO), Gray Television (GTN), Nexstar (NXST) and Tegna (TGNA).
07/31/18
EVER
07/31/18
INITIATION
Target $34
EVER
In Line
Sinclair Broadcast initiated with an In Line at Evercore ISI
Evercore ISI analyst David Joyce initiated Sinclair Broadcast with an In Line and $34 price target.
07/27/18
WELS
07/27/18
NO CHANGE
WELS
DOJ broadcast investigation unlikely to be material, says Wells Fargo
Wells Fargo analyst Marci Ryvicker says her conversions with industry contacts indicate the Department of Justice investigation into various television groups for alleged ad-rate collusion is unlikely to be material. The investigation likely stemmed from the DOJ's review of the Sinclair Broadcast (SBGI), Tribune Media merger, Ryvicker tells investors in a research note. She believes high levels of conversations about business likely drove the investigation and that it will be tough to prove that this lead to price fixing.
TRCO Tribune Media
$33.69

0.49 (1.48%)

07/31/18
EVER
07/31/18
INITIATION
Target $40
EVER
Outperform
Tribune Media initiated with an Outperform at Evercore ISI
Evercore ISI analyst David Joyce initiated Tribune Media with an Outperform and $40 price target.
RAD Rite Aid
$1.75

0.03 (1.75%)

04/30/18
LOOP
04/30/18
NO CHANGE
Target $4
LOOP
Hold
Fred's CEO resignation 'fire but no sale,' says Loop Capital
In a research note titled "CEO resigns - Fire but no sale," Loop Capital analyst Andrew Wolf notes that Fred's (FRED) has announced the resignation of Chief Executive Officer Michael Bloom, effective as of April 24, 2018. Joseph Anto, Fred's Executive Vice President and Chief Financial Officer, will serve as Interim Chief Executive Officer. Additionally, the analyst points out that Alden Capital owns 24% of Fred's shares and its President, Heath Freeman, is now Chairman of the Board of Fred's. According to Freeman in a press release, "After the Company was not able to purchase certain assets from the Rite Aid Corporation (RAD)...the timing was right, both for Mike [Bloom] and the Company, for him to step down." Wolf reiterates a Hold rating and $4 price target on Fred's shares.
08/09/18
DADA
08/09/18
DOWNGRADE
Target $12.25
DADA
Neutral
e.l.f. Beauty downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Linda Bolton Weiser downgraded e.l.f. Beauty (ELF) to Neutral from Buy and lowered her price target to $12.25 from $23, saying that its expectations of lower growth warrants a lower target multiple. The analyst also cites her growing concerns about the company's brand health that is likely losing market share. Weiser adds that while e.l.f. Beauty added new retail customers such as Ride Aid (RAD), the shifting trends in the point-of-sale could "jeopardize shelf space with existing retailers", while noting increasing threat to mass cosmetics from consumers moving to more upscale brands.
06/28/18
JPMS
06/28/18
NO CHANGE
JPMS
Amazon deal creates significant overhang on Rx channel sentiment, says JPMorgan
JPMorgan Analyst Lisa Gill said Amazon's (AMZN) agreement to acquire PillPack is expected to drive a "significant overhang" on sentiment across the prescription channel, even though she doesn't expect PillPack to capture a material share of the market in the near term. While the deal establishes an initial foothold for Amazon in the mail pharmacy space, she thinks it will take time to scale up and she does not believe PillPack's unit dose packaging technology is unique. Gill also noted that Express Scripts (ESRX) said it would remove PillPack from its pharmacy network in 2016 on allegations it had misrepresented itself as a retail pharmacy and not a mail pharmacy, though within weeks PillPack was added back by the PBM. Shares of retail pharmacy operators CVS Health (CVS), Walgreens (WBA) and Rite Aid (RAD) have all been pressured by the news of Amazon's deal, as have the shares of drug distributors AmerisourceBergen (ABC), Cardinal Health (CAH) and McKesson (MCK). Diplomat Pharmacy (DPLO), an operator of a specialty pharmacy, is also sharply lower following the announcement from Amazon.
06/28/18
BARD
06/28/18
NO CHANGE
BARD
Outperform
Amazon creates another competitive advantage with PillPack, says Baird
Baird analyst Colin Sebastian believes Amazon.com's (AMZN) acquisition of PillPack creates a formidable competitor to brick-and-mortar pharmacy peers. Shares of CVS Health (CVS), Walgreens Boots Alliance (WBA) and Rite Aid (RAD) are trading lower following the news. PillPack provides a full-service online pharmacy experience and delivers medication in pre-sorted dose packaging for customers across the U.S., Sebastian tells investors in a research note. The deal creates another competitive advantage over competing e-commerce platforms as Amazon seeks to integrate its pharmacy business with other verticals with high purchase frequency like grocery, the analyst adds. Amazon this morning also announced the expansion of Delivery Partners, a service enabling individuals to build small parcel delivery businesses in support of Amazon's e-commerce growth. Sebastian thinks the delivery service partner initiative represents an important step in last-mile delivery, particularly as customer demand for two-hour delivery increases with the increasing adoption of Prime Now. The analyst has an Outperform rating on Amazon.com with a $1,800 price target.
BKNG Booking Holdings
$2,042.16

-37.07 (-1.78%)

08/03/18
NEED
08/03/18
UPGRADE
NEED
Hold
TripAdvisor upgraded to Hold from at Needham on non-hotel focus
As reported earlier, Needham analyst Laura Martin upgraded TripAdvisor (TRIP) to Hold from Underperform, saying that while the company's pivot to competing as an online travel agent has failed, its focus to grow its non-hotel businesses is a "higher ROI idea". The analyst is positive on the company's "experience aggregator" platform and its "enormous" traffic of 450M MAUs and 150M monthly unique hotel shoppers. The analyst remains concerned about Google (GOOG) and Booking Holdings (BKNG) and Expedia (EXPE) outspending TripAdvisor on travel accommodation advertising.
07/27/18
DADA
07/27/18
NO CHANGE
Target $160
DADA
Buy
Expedia price target raised to $160 from $140 at DA Davidson
DA Davidson analyst Tom White raised his price target on Expedia to $160 and kept his Buy rating after its "big" Q2 EBITDA beat as a result of a "cool-down" in the ad market. The analyst notes that the quarter saw slowing room night growth to 12% from 15% in Q1, while HomeAway bookings also "slowed somewhat surprisingly" to 33% from 46%, but believes that the industry advertising "detente" with Booking Holdings (BKNG) should allow Expedia to invest in key initiatives that should pay off in 2019.
06/22/18
06/22/18
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. Nike (NKE) downgraded to Neutral from Buy at Buckingham with analyst Eric Tracy saying risk/reward is more balanced at current levels and remains positive on Nike's long-term fundamental positioning. 2. Cheesecake Factory (CAKE) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson citing valuation. 3. Horizon Global (HZN) downgraded tow notches to Underperform from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying the company recently terminated its previous plans to acquire Bring Group and withdrew 2018 guidance and the interim CEO is fighting through operational challenges, combined with significant exposure to recently announced tariffs on Chinese goods that adds to earnings uncertainty. 4. Booking Holdings (BKNG) downgraded to Hold from Buy at Benchmark with analyst Daniel Kurnos saying the risk/reward is more balanced at current share levels. 5. Valeant (VRX) downgraded to Hold from Buy at TD Securities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
RHCO
07/17/18
NO CHANGE
Target $2300
RHCO
Buy
Booking Holdings Q2 room nights growth may top guidance, says SunTrust
SunTrust analyst Naved Khan kept his Buy rating and $2,300 price target on Booking Holdings ahead of its Q2 results, saying the room nights growth for the quarter is likely to meet or modestly top its prior forecast. Khan notes that the search trends for top vacation destinations in Europe have not been impacted by World Cup, and also expects growth to continue in the second half of 2018 / 2019 on easier comps and healthy underlying macro fundamentals.
YELP Yelp
$38.10

-0.545 (-1.41%)

06/18/18
MKMP
06/18/18
NO CHANGE
Target $56
MKMP
Buy
Concern with Yelp shift to non-term contracts misplaced, says MKM Partners
MKM Partners analyst Rob Sanderson keeps his Buy rating and $56 price target on Yelp. The analyst notes that the stock price is down 14% since reporting a "strong" Q1, and believes that investors' concern with a shift to non-term contracts as misplaced, calling it a "dinosaur in digital marketing world". He anticipates improving growth dynamics for local advertising leading to a catch-up rally in this stock that has not participated in the recent surge for Internet shares. Sanderson further contends that a rising churn rate is not a concern if user participation is on the rise.
08/08/18
DBAB
08/08/18
NO CHANGE
Target $61
DBAB
Buy
Deutsche Bank likes Yelp's risk/reward into Q2 results
Deutsche Bank analyst Lloyd Walmsley likes the risk/reward on Yelp shares into the company's Q2 results. The analyst sees "depressed" investor sentiment, an "attractive" valuation and improving ad product. He believes expectations are low into the print and sees upside to estimates. Walmsley maintains a Buy rating on the stock with a $61 price target.
06/21/18
BARD
06/21/18
NO CHANGE
Target $44
BARD
Neutral
Yelp possibly benefiting from Facebook news feed changes, says Baird
Baird analyst Colin Sebastian said in a research note earlier today that his firm's latest consumer survey around local service preferences suggests either Yelp's (YELP) pace of product development is driving share gains, or that the company is benefiting from Facebook's (FB) recent de-emphasis of organic News Feed business posts. Baird's latest survey of 500 consumers showed an uptick in respondents selecting Yelp and Google (GOOG, GOOGL) as a preferred source for local services and information. The recent uptick coincides with a decline in Facebook's response rate, which could reflect changes to its News Feed algorithm de-emphasizing organic business posts in favor of user-generated content, Sebastian wrote. The analyst believes that while some confusion remains around the impact of Yelp's non-term contracts, the added flexibility will create an opportunity to cross-sell more attributable services over time. He keeps a Neutral rating on Yelp with a $44 price target. The stock in late morning trading is down 46c to $41.66.
08/09/18
JPMS
08/09/18
NO CHANGE
Target $57
JPMS
Overweight
Yelp price target raised to $57 from $53 at JPMorgan
JPMorgan analyst Doug Anmuth raised his price target for Yelp to $57 citing the company's "strong" Q2 results. Non-term contracts are working and drove record net new paying advertising accounts of 17,000 in the quarter, Anmuth tells investors in a post-earnings research note. The analyst believes Yelp has a "significant opportunity ahead" in thegrowing local ad market. The stock remains one of Anmuth's top SMID-cap ideas with an Overweight rating.
ELF e.l.f. Beauty
$14.90

0.44 (3.04%)

08/09/18
SBSH
08/09/18
DOWNGRADE
Target $16
SBSH
Neutral
Citi downgrades e.l.f. Beauty to Neutral on 'bleak' 2019 outlook
Citi analyst Wendy Nicholson downgraded e.l.f. Beauty to Neutral from Buy and cut her price target for the shares to $16 from $24. The company reduced its guidance for 2018 and the outlook for 2019 is "bleak," Nicholson tells investors in a research note. She says her "confidence in the story has evaporated." Piper Jaffray and Jefferies also downgraded e.l.f. Beauty this morning.
08/09/18
DADA
08/09/18
DOWNGRADE
DADA
Neutral
e.l.f. Beauty downgraded to Neutral from Buy at DA Davidson
08/09/18
STFL
08/09/18
NO CHANGE
Target $11
STFL
Hold
e.l.f. Beauty price target lowered to $11 from $17 at Stifel
Stifel analyst Mark Astrachan said that e.l.f. Beauty's lowered full-year sales growth outlook anticipates about 10% average declines in tracked channels in the second half, which he notes is a pronounced slowdown from data to-date. Given the company's Q2 results, lowered guidance, and muted 2019 commentary, Astrachan believes more spending than the single-digit percentage of sales in brand support that management indicated may be necessary. He lowered his price target on e.l.f. shares to $11 from $17 and keeps a Hold rating on the stock.
BEL Belmond
$11.10

-0.05 (-0.45%)

07/03/18
07/03/18
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. United Continental (UAL), American Airlines (AAL), and Delta Airlines (DAL) downgraded to Hold from Buy at Deutsche Bank with analyst Michael Linenberg saying in a world of "heightened" macroeconomic and geopolitical risks, economically-sensitive, high beta stocks such as airlines typically underperform the broader market. 2. Belmond (BEL) downgraded to Underweight from Overweight at Barclays with analyst Felicia Hendrix citing an analysis of the company's progress on its growth targets announced back in June 2016. 3. PSEG (PEG) downgraded to Hold from Buy at Deutsche Bank with analyst Jonathan Arnold saying The Federal Energy Regulatory Commission order raised new questions over New Jersey zero-emission credits. 4. PepsiCo (PEP) downgraded to Hold from Buy at Deutsche Bank with analyst Stephen Powers viewing the current valuation as a "bit bubbly." 5. Watsco (WSO), Fastenal (FAST), and Grainger (GWW) downgraded to Neutral from Outperform at Baird with analyst David Manthey saying he thinks the cycle and individual company results could remain solid for quarters or years to come, but he believes the cycle is in its later stages, thereby elevating risks to gross margins, rising labor costs, and earnings deceleration in 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
LEHM
07/03/18
DOWNGRADE
Target $11
LEHM
Underweight
Belmond downgraded to Underweight from Overweight at Barclays
Barclays analyst Felicia Hendrix double downgraded Belmond to Underweight from Overweight and lowered her price target for the shares to $11 from $14. The analyst's downgrade follows an analysis of the company's progress on its growth targets announced back in June 2016. She views the targets as ambitious and believes investor patience is limited.
07/03/18
LEHM
07/03/18
DOWNGRADE
Target $11
LEHM
Underweight
Barclays double downgrades Belmond after assessing progress on targets
Barclays analyst Felicia Hendrix double downgraded Belmond to Underweight from Overweight and cut her price target for the shares to $11 from $14 after assessing the company's progress against the "ambitious" growth targets announced at its June 2016 investor day. Belmond is behind schedule on its goal to double its EBITDA by 2020, and, more concerning, the acquisition portion of the plan has been "notably more expensive than guided," Hendrix tells investors in a research note. The analyst says the investors she talks to seem to be growing "increasingly discontent" with the cost of the plan and with Belmond's corporate governance. As such, she believes the shares will continue to trail the lodging coverage universe until progress accelerates significantly or other changes are made.
08/09/18
JEFF
08/09/18
NO CHANGE
Target $13
JEFF
Hold
Belmond should rally 'sharply' on strategic review, says Jefferies
Jefferies analyst David Katz expects Belmond shares "to be up sharply" on news that the company will explore strategic alternatives. The analyst reiterates his view that the market value of Belmond's underlying assets is considerably higher than that which the earnings potential of the company could support. He keeps a Hold rating on the stock with a $13 price target. Belmond in premarket trading is up 26% to $14.05.
DNB Dun & Bradstreet
$122.80

-3 (-2.38%)

05/11/18
BARD
05/11/18
NO CHANGE
Target $135
BARD
Outperform
Dun & Bradstreet may be open to acquirers, says Baird
Baird analyst Jeffrey Meuler said his investment view of Dun & Bradstreet is materially unchanged following mixed Q1 results. The analyst continues to believe the risk/reward is attractive considering its differentiated valuable data and attractive competitive position. He believes a catalyst could be a strategic evaluation and its openness to a potential acquirer. Meuler reiterated his Outperform rating and $135 price target on Dun & Bradstreet shares.
06/18/18
BARD
06/18/18
DOWNGRADE
BARD
Neutral
Dun & Bradstreet downgraded to Neutral from Outperform at Baird
06/18/18
BARD
06/18/18
DOWNGRADE
Target $135
BARD
Neutral
Dun & Bradstreet downgraded to Neutral at Baird
As reported previously, Baird analyst Jeffrey Meuler downgraded Dun & Bradstreet to Neutral from Outperform. The analyst believes any potential take-out is already priced into the shares, the current valuation seems to limit potential upside, and the business requires more substantial changes to return it to sustainable organic growth. Meuler has a $135 price target on Dun & Bradstreet shares.
06/18/18
06/18/18
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. Redfin (RDFN) was downgraded to Sell from Neutral at Goldman Sachs while Zillow (Z, ZG) was downgraded to Neutral from Buy. 2. Dun & Bradstreet (DNB) downgraded to Neutral from Outperform at Baird with analyst Jeffrey Meuler saying he believes any potential take-out is already priced into the shares, the current valuation seems to limit potential upside, and the business requires more substantial changes to return it to sustainable organic growth. 3. Hibbett Sports (HIBB) downgraded to Underperform from Buy at BofA/Merrill analyst Rafe Jadrosich saying he expects negative same-store-sales declines in Q4 and continuing through 2020 as Hibbett laps the ecommerce launch and excess inventory clearance. 4. Cheesecake Factory (CAKE) downgraded to Neutral on valuation at BTIG with analyst Peter Saleh citing recent share strength. 5. Intel (INTC) downgraded to Underperform from Market Perform at Northland. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CVNA Carvana
$47.00

-0.17 (-0.36%)

08/09/18
BARD
08/09/18
NO CHANGE
Target $60
BARD
Outperform
Carvana price target raised to $60 from $53 at Baird
Baird analyst Colin Sebastian raised his price target on Carvana to $60 from $53 following Q2 results. The analyst said the results were consistent with his channel checks as the company reported strong top line metrics while expanding its "land & expand" market penetration strategy. He noted management highlighted an acceleration in second half technology investments to catch up with the demand ramp of newer markets. Sebastian reiterated his Outperform rating on Carvana shares.
08/02/18
BARD
08/02/18
NO CHANGE
Target $23
BARD
Outperform
Carvana data suggests upside potential to Q2 estimates, says Baird
Baird analyst Colin Sebastian said he remains confident in his above consensus estimates on Carvana and said data points suggest there is potential upside to his Q2 sales estimates. The analyst said search trends imply the momentum has continued into early Q3. He admits Q3 guidance is somewhat of a wildcard, but he likes the shares at current levels. Sebastian reiterated his Outperform rating and $23 price target on Carvana.
08/06/18
WEDB
08/06/18
NO CHANGE
Target $40
WEDB
Neutral
Carvana price target raised to $40 from $24 at Wedbush
Wedbush analyst Seth Basham raised his price target for Carvana to $40 from $24 ahead of quarterly results as a beat and raise is widely expected. The analyst reiterates a Neutral rating on the shares.
08/09/18
SBSH
08/09/18
NO CHANGE
Target $67
SBSH
Buy
Carvana price target raised to $67 from $60 at Citi
Citi analyst Mark May raised his price target for Carvana to $67 citing the company's better than expected Q2 results. Carvana's average days to sale improved to 66 days from 70 days, sequentially, and from 105 days year-over-year, May tells investors in a post-earnings research note. The analyst says the results reaffirm his confidence that Carvana's "disruptive business model still has plenty of upside despite shares moving higher after hours." May keeps a Buy rating on the name.
ROKU Roku
$47.26

-0.18 (-0.38%)

08/09/18
KEYB
08/09/18
NO CHANGE
Target $67
KEYB
Overweight
Roku price target raised to $67 from $54 at KeyBanc
KeyBanc analyst Evan Wingren raised his price target for Roku to $67 from $54, citing Q2 results and 2H guidance that were above expectations, driven by momentum of the Roku platform. TRC expanding has the potential to drive a large TAM expansion for the platform business that is likely not captured in Roku's valuation from here, he adds. The analyst reiterates an Overweight rating on the shares.
08/09/18
OPCO
08/09/18
NO CHANGE
Target $59
OPCO
Outperform
Roku price target raised to $59 from $50 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Roku to $59 from $50 following better than expected Q2 results, FY guidance and the launch of The Roku Channel off platform. The analyst reiterates an Outperform rating on the shares.
08/09/18
WBLR
08/09/18
NO CHANGE
WBLR
Outperform
Roku shares have additional 20% upside, says William Blair
William Blair analyst Ralph Schackart says that at the post-earnings share price of $51, Roku shares have additional upside around 20%. As the traditional TV ad market transitions in favor of over-the-top and streamed video, Roku is well positioned to take advantage, Schackart tells investors in a post-earnings research note. He believes the Roku Channel is making "significant progress" and keeps an Outperform rating on the shares.
08/09/18
RBCM
08/09/18
NO CHANGE
Target $48
RBCM
Sector Perform
Roku price target raised to $48 from $45 at RBC Capital
RBC Capital analyst Mark Mahaney raised his price target on Roku to $48 after its Q2 earnings beat driven by improvements in the Player and Platform segments. The analyst keeps his Sector Perform rating on Roku citing valuation.
JACK Jack in the Box
$85.75

0.08 (0.09%)

05/18/18
RHCO
05/18/18
NO CHANGE
Target $100
RHCO
Buy
Jack in the Box price target lowered to $100 from $110 at SunTrust
SunTrust analyst Jake Bartlett lowered his price target on Jack in the Box to $100 after the company's lowered FY18 SSS forecast, saying it adds uncertainty to the prospects of recovery in comps on top of the uncertainty around cost savings. Longer term, Bartlett keeps his Buy rating despite the increased risk, noting that its free cash flow yield per share of 7.7% is attractive while its post Qdoba-sale and refranchising investment story is "compelling".
05/10/18
SPHN
05/10/18
NO CHANGE
Target $120
SPHN
Overweight
GrubHub deal with Jack in the Box 'one of many to come,' says Stephens
After GrubHub (GRUB) announced a partnership to provide delivery for hundreds of Jack in the Box (JACK) locations, Stephens analyst Will Slabaugh noted that the deal is not exclusive but he believes it will be "one of many to come" for GrubHub with large national chains. He maintains an Overweight rating and $120 price target on GrubHub shares.
05/07/18
05/07/18
DOWNGRADE

Mixed
Follow-up: Jack in the Box downgraded to Mixed on competition at OTR Global
As previously reported, OTR Global downgraded Jack in the Box to Mixed from Positive. The firm's checks with managers indicate increased competition and a mixed response to the Cholula Buttery Jack is pressuring transactions and sales.
07/11/18
WEDB
07/11/18
NO CHANGE
Target $115
WEDB
Outperform
Jack in the Box added to Best Ideas List at Wedbush
Wedbush analyst Nick Setyan added Jack in the Box to his firm's Best Ideas List, while reiterating an Outperform rating and $115 price target on the stock. The analyst views the combination of long-term same-store sales growth, margin, and free cash flow guidance, expected in August, and incremental visibility into short- and medium-term same-store sales growth drivers, beginning with solid Q4 same-store sales growth guidance, to result in an upward revaluation of shares.
STMP Stamps.com
$255.20

-8 (-3.04%)

06/21/18
RILY
06/21/18
NO CHANGE
RILY
Any selloff in Stamps.com represents attractive buying opportunity, says B. Riley FBR
With Stamps.com trading down 12% intraday, B. Riley FBR analyst Kevin Liu reiterated his Buy rating and $300 price target, saying that any sell-off in Stamps.com represents an "attractive buying opportunity" given "the company's entrenched relationship with the USPS and strategic positioning in e-commerce." He added that Trump's proposal to privatize the Post Office, while it would present risks to the company, is still simply speculation at this point.
07/26/18
ROTH
07/26/18
NO CHANGE
Target $305
ROTH
Buy
Stamps.com price target raised to $305 from $255 at Roth Capital
Roth Capital analyst Darren Aftahi raised his price target for Stamps.com to $305 from $255 as he expects slightly above consensus results when the company reports Q2 results. His SHOP customer checks suggest 200bps improvement in Shipping penetration along with healthy merchant underlying business growth. This serves as one positive data point that gives the analyst comfort in his above consensus estimate. Aftahi reiterates a Buy rating on the shares.
06/01/18
06/01/18
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. Tesla (TSLA) initiated with a Hold at Needham. 2. Xenia Hotels (XHR) initiated with an Outperform at Baird. 3. Stamps.com (STMP) and Pitney Bowes (PBI) were initiated with a Buy at Maxim. 4. Getty Realty (GTY) initiated with a Buy at Ladenburg. 5. Dana (DAN) initiated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/31/18
MAXM
05/31/18
INITIATION
Target $320
MAXM
Buy
Stamps.com initiated with a Buy at Maxim
Maxim initiated Stamps.com with a Buy and $320 price target.
ON ON Semiconductor
$22.42

(0.00%)

08/09/18
MSCO
08/09/18
NO CHANGE
MSCO
Morgan Stanley downgrades semiconductor industry view to Cautious
Morgan Stanley analyst Joseph Moore said he has become less constructive on semiconductor stocks through the year and he now believes elevated inventory levels and stretched lead times leave "no margin for error." Given his view that any lead time adjustment or demand slowdown could drive a "meaningful correction," Moore has downgraded his semiconductor industry view to Cautious from In-Line. He favors connector companies, like Amphenol (APH) and TE Connectivity (TEL) over analog/MCU at this point in the cycle, due to lower risk around lead time issues, Moore said. He also has a "strong preference" for high margin and more defensive models, such as Analog Devices (ADI) over lower margin and commodity exposed ones, like Cypress Semiconductor (CY) and ON Semiconductor (ON), he said. Despite his more cautious view on the space, Moore keeps Overweight ratings on Nvidia (NVDA), Xilinx (XLNX) and Ambarella (AMBA), citing his view that they should benefit from secular growth in the area of AI, data center, and autonomous. Other semiconductor names include Microchip (MCHP), Qorvo (QRVO), Micron (MU), Intel (INTC), Broadcom (AVGO) and Qualcomm (QCOM).
08/09/18
MSCO
08/09/18
DOWNGRADE
Target $18.5
MSCO
Underweight
ON Semiconductor downgraded to Underweight on cyclical risks at Morgan Stanley
As previously reported, Morgan Stanley analyst Craig Hettenbach downgraded ON Semiconductor to Underweight from Equal Weight as he see a reduction in lead times serving as a possible catalyst for an inventory correction by Q4. He also views ON Semi shares as more susceptible to multiple contraction than peers if the cycle turns given the stock's period of strong outperformance. Hettenbach lowered his price target on ON Semi shares to $18.50 from $20.
07/31/18
MKMP
07/31/18
NO CHANGE
Target $28
MKMP
Buy
ON Semiconductor's current demand environment remains strong, says MKM Partners
MKM Partners analyst Ruben Roy kept his Buy rating and $28 price target on ON Semiconductor, saying the company continues to execute well while making progress toward its long-term operating targets. The analyst also cites the management's latest comments that the current environment remains strong and demand is increasing across most of the company's end markets. Roy further notes that On Semiconductor shares trade at a "meaningful discount" to the broader semiconductor peer group average multiple.
08/09/18
MSCO
08/09/18
DOWNGRADE
MSCO
Underweight
ON Semiconductor downgraded to Underweight from Equal Weight at Morgan Stanley
STX Seagate
$55.06

0.2 (0.36%)

07/27/18
MSCO
07/27/18
NO CHANGE
Target $96
MSCO
Equal Weight
Western Digital relative underperformance creates potential, says Morgan Stanley
Morgan Stanley analyst Joseph Moore said he has believed for the last 9 months that NAND was moving into moderate oversupply and companies were overly optimistic about a recovery in the second half, as has been playing out this quarter. While noting that his 2019 estimates for Western Digital (WDC) are "well below" consensus, Moore also said the stock is inexpensive and its underperformance compared to both hardware peer Seagate (STX) and memory peer Micron (MU) creates "significant potential." Despite the material upside potential he sees from here, Moore keeps an Equal Weight rating on Western Digital with a slightly lowered price target of $96, advocating to wait for numbers to come down.
06/06/18
MSCO
06/06/18
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Seagate to Western Digital due to NAND headwinds
After comparing the valuation, portfolio positioning, pricing, and gross margin trajectories of Seagate (STX) and Western Digital (WDC), Morgan Stanley analyst Katy Huberty concluded that both stocks "appear cheap for the long-term" given the exponential data growth in the next computing cycle, dubbed "the Data Era." In the nearer-term, however, concerns around NAND pricing lead Huberty to keep an Equal Weight rating on Western Digital and express a preference for Seagate, on which she has an Overweight rating.
06/14/18
LOOP
06/14/18
NO CHANGE
Target $70
LOOP
Buy
Seagate gross margins to track higher for the rest of 2018, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $70 price target on Seagate, saying the company should continue tracking to the upside in its gross margins for the rest of this year. The analyst cites continued growth of demand for cloud drives and absorption of costs starting with the September quarter. Baruah also anticipates Seagate to reach annual EPS of over $6 one year earlier than expected.
08/09/18
GSCO
08/09/18
DOWNGRADE
Target $44
GSCO
Sell
Seagate downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Mark Delaney downgraded Seagate Technology (STX) to Sell and lowered his price target for the shares to $44 from $50, representing 20% downside from current levels. While Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market," Delaney tells investors in a research note. He believes Seagate's fundamentals will peak in the second half of 2018 and decline in 2019. NAND is oversupplied and sold state drive prices are falling, Delaney says. Further, the analyst notes that Seagate trades at a "greater than two turn premium" on forward price-to-earnings ratio relative to peers Western Digital (WDC) and Micron (MU).

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VCTR

Victory Capital

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IRET

Investors Real Estate

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GHDX

Genomic Health

$70.84

1.65 (2.38%)

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LabCorp

$169.54

-2.46 (-1.43%)

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WK

Workiva

$37.20

0.65 (1.78%)

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CY

Cypress Semiconductor

$15.52

-0.45 (-2.82%)

05:07
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05:07
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LBTYA

Liberty Global

$28.37

-0.87 (-2.98%)

04:55
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09/25
04:55
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04:55
Conference/Events
Liberty Global management to meet with Wolfe Research »

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TRU

TransUnion

$73.68

-0.62 (-0.83%)

04:55
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NNBR

NN, Inc.

$15.65

-0.05 (-0.32%)

04:55
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  • 06

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CLAR

Clarus Corporation

$10.45

-0.3 (-2.79%)

04:55
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  • 25

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AMSC

AMSC

$6.33

-0.265 (-4.02%)

04:55
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04:55
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  • 25

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TSLX

TPG Specialty Lending

$20.56

-0.15 (-0.72%)

04:55
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09/25
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04:55
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TPG Specialty Lending management to meet with JMP Securities »

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  • 25

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THR

Thermon Group

$25.98

-0.14 (-0.54%)

04:55
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Thermon Group management to meet with William Blair »

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  • 25

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IMPV

Imperva

$46.70

1.05 (2.30%)

, FIVN

Five9

$43.51

0.3 (0.69%)

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Imperva

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CDAY

Ceridian

$42.29

0.225 (0.53%)

MSFT

Microsoft

$114.72

0.02 (0.02%)

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TEN

Tenneco

$44.59

-0.9 (-1.98%)

04:55
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  • 25

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SWCH

Switch

$10.85

-0.21 (-1.90%)

04:55
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  • 25

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ARKAY

Arkema

$0.00

(0.00%)

04:55
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  • 25

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COOL

PolarityTE

$0.00

(0.00%)

04:55
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04:55
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PolarityTE management to meet with Evercore ISI »

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  • 25

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NVDA

Nvidia

$265.72

2.28 (0.87%)

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COWN

Cowen Group

$16.00

0.1 (0.63%)

04:55
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Cowen Group management to meet with JMP Securities »

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