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PZZA

Papa John's

$40.84

1.91 (4.91%)

10:40
08/09/18
08/09
10:40
08/09/18
10:40

Aggressive call buying in Papa Johns as shares deliver gains

Aggressive call buying in Papa Johns as shares deliver gains. The stock up $1.67 to $40.61 and Oct 45 calls trade across the exchanges from $1.25 to 1.40 per contract, including 4.5K on PCoast for $1.30 when bid-ask was $1 to 1.30. More than 6K traded against 435 open interest and the market lifted to $1.5 to 1.55. The stock up today, but off 21% in the past month and notched 52-week lows after earnings yesterday.

PZZA Papa John's
$40.84

1.91 (4.91%)

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.
08/08/18
JEFF
08/08/18
NO CHANGE
Target $58
JEFF
Buy
Papa John's Q3 'will represent the worst', says Jefferies
While the road to recovery will be long, Papa John's Q3 will "represent the worst," Jefferies analyst Alexander Slagle tells investors in a research note following the company's "weak" Q2 results. The analyst believes there are "opportunities to create value from here." The stock's ultimate risk/reward is "highly skewed to the upside," Slagle contends. He keeps a Buy rating on Papa John's with a $58 price target.
08/08/18
SPHN
08/08/18
NO CHANGE
Target $55
SPHN
Overweight
Papa John's price target lowered to $55 from $60 at Stephens
Stephens analyst Will Slabaugh said he believes the soft topline results reported by Papa John's in Q2 were "expected by most" and he views the July same-store sales drop of 10.5% as "slightly better than feared." While the company's guidance combined with the lack of conversation around exploring a sale may pressure the shares, Slabaugh continues to see Papa John's as a unique asset given its global growth potential and various levers. He lowered his price target on Papa John's shares to $55 from $60, but keeps an Overweight rating on the stock.

TODAY'S FREE FLY STORIES

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ATRO

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WNS

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$54.00

0.43 (0.80%)

06:39
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ACRE

Ares Commercial

$14.05

-0.05 (-0.35%)

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GOGO

Gogo

$4.26

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TOT

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-0.04 (-0.07%)

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GCI

Gannett

$10.60

-0.7 (-6.19%)

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GOGO

Gogo

$4.26

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GRMN

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TFX

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DB

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BDC

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TIER

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ENSG

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