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MIK

Michaels

$20.61

0.38 (1.88%)

, AMZN

Amazon.com

$1,896.49

9.87 (0.52%)

11:38
08/09/18
08/09
11:38
08/09/18
11:38

After Party City deal, Credit Suisse finds Michaels selling on Amazon too

As previously reported, Credit Suisse analyst Seth Sigman reported that he has found Michael's (MIK) selling products on Amazon's (AMZN) marketplace via the company's "Darice" wholesale brand. This finding came after Party City (PRTY) disclosed earlier this morning that it would starting selling on the Amazon marketplace. Sigman thinks an Amazon partnership can help drive incremental growth for Michael's in the near-term and thinks the mix may skew to higher price points than the company's typical mix. He keeps an Outperform rating on Michael's share, which are up 4% to $21.02 in late morning trading.

MIK

Michaels

$20.61

0.38 (1.88%)

AMZN

Amazon.com

$1,896.49

9.87 (0.52%)

PRTY

Party City

$16.25

0.45 (2.85%)

  • 09

    Aug

  • 16

    Aug

  • 13

    Sep

MIK Michaels
$20.61

0.38 (1.88%)

06/20/18
JPMS
06/20/18
NO CHANGE
Target $25
JPMS
Overweight
Michaels added to Analyst Focus List at JPMorgan
JPMorgan analyst Christopher Horvers added Michaels to his firm's Analyst Focus List as a value idea. The stock's selloff since the Q1 report creates a "highly attractive entry point considering the historic low valuation," Horvers tells investors in a research note. The analyst views a "substantial buyback" as the most likely outcome for the company's cash position post two quarters of inactivity. After hosting meetings with management Horvers keeps an Overweight rating on Michaels with a $25 price target.
06/14/18
LOOP
06/14/18
NO CHANGE
Target $19
LOOP
Hold
Michaels 'deserves to be cheap,' says Loop Capital
Following this morning's Q1 results, Loop Capital analyst Laura Champine believes Michaels "deserves to be cheap." The analyst lowered her price target for the shares to $19 from $20 and keeps a Hold rating on the name. Champine says that though Michaels expects e-commerce to remain at a single-digit percentage of its revenues, she's beginning to believe the industry's penetration online is higher and growing more rapidly, pressuring the company's comp. She views the outlook for Q2 as disappointing.
04/23/18
WELS
04/23/18
INITIATION
Target $20
WELS
Market Perform
Michaels initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Zachary Fadem started Michaels with a Market Perform rating and $20 price target.
08/09/18
FBCO
08/09/18
NO CHANGE
FBCO
Michaels selling on Amazon via wholesale brand, says Credit Suisse
AMZN Amazon.com
$1,896.49

9.87 (0.52%)

08/06/18
STFL
08/06/18
NO CHANGE
Target $202
STFL
Buy
Facebook added to Stifel Select List, Amazon removed
Stifel analyst Scott Devitt replaced Amazon (AMZN) with Facebook (FB) on the Stifel Select List, citing the strong year-to-date performance of Amazon shares, which he still likes and keeps a Buy rating upon. He believes Facebook expectations, and the shares, are appropriately set to allow for longer-term outperformance given the material reset that followed the company's "painful" Q2 update, Devitt tells investors. He maintains a Buy rating and $202 price target on Facebook.
08/06/18
LOOP
08/06/18
NO CHANGE
Target $55
LOOP
Buy
Etsy price target raised to $55 from $50 at Loop Capital
Loop Capital analyst Laura Champine raised her price target on Etsy (ETSY) to $55 and kept her Buy rating after its Q2 earnings beat and raised guidance. The analyst notes that while the stock price has already doubled year-to-date, its positive momentum is likely to continue after another update forecasting continued revenue growth. Champine also believes that her revenue growth forecasts may prove to be conservative, as Etsy's holiday promotional activity later this year is likely to increase seller count. The analyst contends that Etsy's seller fees at 5% are also an "excellent value" relative to eBay's (EBAY) 10% and Amazon's (AMZN) 15%.
08/08/18
RHCO
08/08/18
NO CHANGE
Target $50
RHCO
Hold
Edgewell Personal Care price target raised to $50 from $45 at SunTrust
SunTrust analyst William Chappell raised his price target on Edgewell Personal Care (EPC) to $50 after its Q3 earnings beat, also raising his FY18 EPS view to $3.48 from $3.43 and FY19 to $3.82 from $3.76. The analyst cites lower than expected decline in the Wet Shave segment organic sales along with its private label growth and a contract win from Amazon (AMZN), even though the company's Skin/Sun Care trends worsened slightly. Chappell keeps his Hold rating on Edgewell, acknowledging its efforts to improve trends with new product launches but also noting that it may take some time to "get things back on track."
PRTY Party City
$16.25

0.45 (2.85%)

11/13/17
11/13/17
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. Party City (PRTY) assumed with an Overweight at JPMorgan. 2. MongoDB (MDB) was initiated with a Buy at Stifel and Canaccord, an Overweight at Barclays, an Equal Weight at Morgan Stanley, a Market Perform at JMP Securities, and a Neutral at Goldman Sachs. 3. Arista Networks (ANET) initiated with a Neutral at Piper Jaffray. 4. NetScout (NTCT) initiated with an Overweight at Piper Jaffray. 5. Aveo Oncology (AVEO) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/27/17
BOFA
12/27/17
NO CHANGE
BOFA
Neutral
Party City accelerated buybacks increase leverage and risk, says BofA/Merrill
BofA/Merrill analyst Curtis Nagle said Party City's $242M repurchase announcement last week from Advent will provide an immediate lift to earnings, but also increases leverage and risk to the business. Nagle raised estimates but reiterated his Neutral rating on Party City shares.
04/19/18
BOFA
04/19/18
UPGRADE
Target $20
BOFA
Buy
Party City upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Curtis Nagle upgraded Party City to Buy from Neutral and raised its price target to $20 from $17 citing expectations for better same-store sales growth in 2019, combined with consistent operating margin expansion. Nagle said a more favorable Halloween calendar, which falls on a Thursday, a strong lineup of franchise firms that will drive increased licensed product sales, and the ongoing acquisition of franchise locations will drive accelerated revenue growth.

TODAY'S FREE FLY STORIES

EDR

EdR

$41.49

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SJT

San Juan Basin Royalty Trust

$4.68

-0.19 (-3.90%)

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UBER

Uber

$0.00

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SJT

San Juan Basin Royalty Trust

$4.68

-0.19 (-3.90%)

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AVLR

Avalara

$42.99

-0.51 (-1.17%)

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  • 22

    Oct

CDNA

CareDx

$25.90

-0.01 (-0.04%)

, NTRA

Natera

$23.97

0.47 (2.00%)

15:33
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Conference/Events
Piper Jaffray biotech analysts to hold an analyst/industry conference call »

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CDNA

CareDx

$25.90

-0.01 (-0.04%)

NTRA

Natera

$23.97

0.47 (2.00%)

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T

AT&T

$33.41

0.05 (0.15%)

15:33
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09/20
15:33
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Periodicals
AT&T asks court to reject DOJ's challenge of Time Warner deal, Reuters says »

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  • 26

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ADT

ADT Inc.

$8.76

0.39 (4.66%)

, AMZN

Amazon.com

$1,948.17

21.9 (1.14%)

15:32
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ADT Inc.

$8.76

0.39 (4.66%)

AMZN

Amazon.com

$1,948.17

21.9 (1.14%)

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  • 21

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CLF

Cleveland-Cliffs

$12.24

0.135 (1.12%)

15:30
09/20/18
09/20
15:30
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Options
Notable call activity in Cleveland Cliffs »

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  • 19

    Oct

NTDOY

Nintendo

$0.00

(0.00%)

, SNE

Sony

$59.11

0.11 (0.19%)

15:28
09/20/18
09/20
15:28
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15:28
Periodicals
Trademark filing suggests Nintendo working on N64 Classic, BI reports »

A European trademark…

NTDOY

Nintendo

$0.00

(0.00%)

SNE

Sony

$59.11

0.11 (0.19%)

03/08/13
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THS

TreeHouse

$52.85

0.15 (0.28%)

15:26
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TreeHouse rises to session high, up 1.5% to $53.50 »

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GM

General Motors

$36.14

0.4 (1.12%)

15:20
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09/20
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Options
Afternoon call buyers in GM »

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ACAD

Acadia

$18.55

3.44 (22.77%)

15:18
09/20/18
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  • 01

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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NASDAQ market internals summary »

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SYNA

Synaptics

$47.31

1.27 (2.76%)

15:16
09/20/18
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Conference/Events
Synaptics management to meet with KeyBanc »

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  • 20

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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SJT

San Juan Basin Royalty Trust

$4.67

-0.2 (-4.11%)

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MTG

MGIC Investment

$13.14

0.135 (1.04%)

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MDCA

MDC Partners

$4.30

(0.00%)

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MDCA

MDC Partners

$4.30

(0.00%)

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UNFI

United Natural Foods

$33.66

0.37 (1.11%)

15:04
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Options
United Natural Foods options imply 11.5% move in share price post-earnings, above median historical move »

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  • 20

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ACAD

Acadia

$18.70

3.59 (23.76%)

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  • 01

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MDCA

MDC Partners

$4.30

(0.00%)

15:00
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AMZN

Amazon.com

$1,945.18

18.91 (0.98%)

15:00
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