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ADS

Alliance Data

$227.34

-0.365 (-0.16%)

, FISV

Fiserv

$79.30

0.01 (0.01%)

06:53
08/14/18
08/14
06:53
08/14/18
06:53

JPMorgan shuffles ratings in Payments & Processors, upgrades Alliance Data

JPMorgan analyst Tien-tsin Huang rebalanced his ratings in the Payments & Processors while establishing 2019 price targets. With payments "increasingly being consumed and distributed via technology," the analyst continues to favor the "more modern, digital players." He believes the shift towards integrated payments and digital banking is in the early stages. Analyst Reginald Smith upgraded Alliance Data Systems (ADS) to Overweight from Neutral and raised his price target for the shares to $281 from $270. Smith thinks stock sentiment is nearing an inflection point as delinquency trends stabilize. Huang downgraded Fiserv (FISV) and Paychex (PAYX) to Underweight from Neutral, saying the companies are below-average growers with below-average earnings upside risk.

ADS

Alliance Data

$227.34

-0.365 (-0.16%)

FISV

Fiserv

$79.30

0.01 (0.01%)

PAYX

Paychex

$71.16

0.11 (0.15%)

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    Nov

ADS Alliance Data
$227.34

-0.365 (-0.16%)

07/18/18
JPMS
07/18/18
NO CHANGE
Target $264
JPMS
Neutral
JPMorgan 'incrementally positive' on Alliance Data into earnigns
JPMorgan analyst Reginald Smith keeps a Neutral rating on Alliance Data but is "incrementally positive" on the shares into the company's Q2 results on July 19. The analyst raised his estimates and sees upside to management's prior Q2 outlook given commentary at investor conferences last month. He cites Alliance Data's relative valuation and potential for improved credit metrics for his incrementally positive stance. Smith, however, awaits "more consistency before getting more constructive on the name."
08/07/18
JEFF
08/07/18
INITIATION
Target $280
JEFF
Buy
Alliance Data assumed with a Buy at Jefferies
Jefferies analyst Surinder Thind assumed coverage of Alliance Data with a Buy rating and $280 price target. The company's long-term business fundamentals are intact but are being masked by a number of transitory events, Thind tells investors in a research note. He expects the stock's forward price-to-earnings multiple to re-rate from 9 times currently to 11 times as the headwinds dissipate.
08/07/18
08/07/18
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. Broadcom (AVGO) reinstated with an Overweight at Barclays. 2. ObsEva (OBSV) initiated with an Outperform at Wedbush. 3. Deciphera (DCPH) initiated with a Buy at Canaccord. 4. Alliance Data (ADS) assumed with a Buy at Jefferies. 5. Hermes (HESAY) initiated with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/18
JPMS
08/14/18
UPGRADE
Target $281
JPMS
Overweight
Alliance Data upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Reggie Smith upgraded Alliance Data System to Overweight and raised his price target for the shares to $281 from $270.
FISV Fiserv
$79.30

0.01 (0.01%)

02/09/18
RHCO
02/09/18
UPGRADE
Target $160
RHCO
Buy
Fiserv upgraded to Buy at SunTrust on bottoming revenue and 'next-gen' solutions
As reported earlier, SunTrust analyst Andrew Jeffrey upgraded Fiserv to Buy from Hold and raised his price target to $160 from $130. Jeffrey contends that unlike much of the sell-side community, the company's revenue growth rate has bottomed and longer-term operating leverage remains. The analyst is also positive on "optionality around next-gen solutions, such as Mobile Banking and P2P". Jeffrey believes that the risks around the potential FI consolidation are offset by "consistent low double-digit free cash flow growth".
07/17/18
WOLF
07/17/18
INITIATION
Target $85
WOLF
Peer Perform
Fiserv initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Darrin Peller started Fiserv with a Peer Perform rating and $85 price target.
08/01/18
RHCO
08/01/18
NO CHANGE
Target $87
RHCO
Buy
Fiserv price target raised to $87 from $80 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price target on Fiserv to $87 and kept his Buy rating after its Q2 results, saying the company is "in a sweet spot" of organic revenue growth, margin expansion, and free cash flow generation, along with a "shareholder friendly" capital program. The analyst anticipates Fiserv to continue its trend of organic revenue growth in the mid-single-digits, even as he warns that not every quarter will see top-line acceleration.
08/14/18
JPMS
08/14/18
DOWNGRADE
Target $82
JPMS
Underweight
Fiserv downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Tien-Tsin Huang downgraded Fiserv to Underweight while raising his price target for the shares to $82 from $77.
PAYX Paychex
$71.16

0.11 (0.15%)

04/17/18
BOFA
04/17/18
DOWNGRADE
BOFA
Neutral
Paychex downgraded to Neutral from Buy at BofA/Merrill
04/17/18
04/17/18
DOWNGRADE

Underperform
Paychex downgraded to Underperform on reinvestment plans at BofA/Merrill
As previously reported, BofA/Merrill downgraded Paychex to Underperform and cut its price target to $60 from $66. Analyst Jason Kupferberg said the magnitude of reinvestment plans announced on the recent earnings call appear somewhat defensive and could increase concerns about Paychex's product offerings and competitive position. Kupferberg believes competitive concerns and the duration of margin pressure could keep shares range-bound.
07/17/18
WOLF
07/17/18
INITIATION
Target $82
WOLF
Peer Perform
Paychex initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Darrin Peller started Paychex with a Peer Perform rating and $82 price target.
08/14/18
JPMS
08/14/18
DOWNGRADE
Target $76
JPMS
Underweight
Paychex downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Tien-Tsin Huang downgraded Paychex to Underweight while raising his price target for the shares to $76 from $67.

TODAY'S FREE FLY STORIES

CLXT

Calyxt

$9.88

0.4 (4.22%)

20:23
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20:23
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CEQP

Crestwood Equity

$32.29

0.47 (1.48%)

, EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

20:08
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12/16
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20:08
Recommendations
Crestwood Equity, EQT Midstream Partners analyst commentary  »

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$32.29

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ITW

Illinois Tool Works

$131.02

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19:57
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Illinois Tool Works rating change  »

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SWK

Stanley Black & Decker

$118.36

0.46 (0.39%)

19:57
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INCY

Incyte

$66.24

-1.04 (-1.55%)

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Aetna

$0.00

(0.00%)

19:31
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Hot Stocks
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INCY

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AET

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ANTM

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$275.59

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CNC

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CI

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-6.63 (-3.13%)

HNT

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HUM

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MOH

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UNH

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WCG

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SNE

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GOOG

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GOOGL

Alphabet Class A

$1,050.62

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AAPL

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$165.48

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BAC

Bank of America

$24.49

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BLK

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CAT

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CVX

Chevron

$113.84

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DDAIF

Daimler AG

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(0.00%)

DAL

Delta Air Lines

$53.50

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ET

Energy Transfer LP

$14.08

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TOL

Toll Brothers

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EQT

EQT Corporation

$19.40

-0.78 (-3.87%)

18:54
12/16/18
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18:54
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18:54
Periodicals
EQT's board to seek meeting with Rice brothers, Reuters reports »

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EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

, EQGP

EQGP Holdings

$19.94

0.02 (0.10%)

18:31
12/16/18
12/16
18:31
12/16/18
18:31
Downgrade
EQT Midstream Partners, EQGP Holdings rating change at Goldman Sachs »

EQT Midstream downgraded…

EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

EQGP

EQGP Holdings

$19.94

0.02 (0.10%)

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CEQP

Crestwood Equity

$32.29

0.47 (1.48%)

18:28
12/16/18
12/16
18:28
12/16/18
18:28
Upgrade
Crestwood Equity rating change at Goldman Sachs »

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INCY

Incyte

$66.24

-1.04 (-1.55%)

17:52
12/16/18
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NSANY

Nissan

$0.00

(0.00%)

, RNLSY

Renault

$0.00

(0.00%)

17:14
12/16/18
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17:14
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17:14
Periodicals
Renault seeking Nissan shareholder meeting amid Ghosn crisis, Reuters says »

Renault (RNLSY) requested…

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Nissan

$0.00

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RNLSY

Renault

$0.00

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T

AT&T

$30.24

0.33 (1.10%)

, CMCSA

Comcast

$36.32

-0.43 (-1.17%)

16:48
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Box Office Battle: 'Spider-Verse' wins weekend with $35M »

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AT&T

$30.24

0.33 (1.10%)

CMCSA

Comcast

$36.32

-0.43 (-1.17%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$51.32

-0.88 (-1.69%)

FOX

21st Century Fox

$48.79

-0.09 (-0.18%)

FOXA

21st Century Fox

$49.06

-0.07 (-0.14%)

LGF.A

Lionsgate

$15.59

-0.16 (-1.02%)

DIS

Disney

$112.21

-1.17 (-1.03%)

VIAB

Viacom

$28.56

-0.31 (-1.07%)

VIA

Viacom

$31.23

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ELGX

Endologix

$0.71

0.0232 (3.39%)

16:17
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16:17
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16:17
Conference/Events
Endologix to host special shareholder meeting »

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PRPO

Precipio

$0.19

-0.0111 (-5.63%)

16:11
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Conference/Events
Precipio to host special shareholder meeting »

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MSB

Mesabi Trust

$25.15

-1.1 (-4.19%)

16:08
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16:08
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Conference/Events
Mesabi Trust to host special shareholder meeting »

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MLNT

Melinta Therapeutics

$1.19

-0.1 (-7.75%)

16:02
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16:02
Conference/Events
Melinta Therapeutics to host special shareholder meeting »

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XOM

Exxon Mobil

$75.63

-1.32 (-1.72%)

15:55
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Exxon Mobil shareholders call for greenhouse gas reduction targets, Reuters says »

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ANTM

Anthem

$275.59

-4.93 (-1.76%)

, CNC

Centene

$127.55

-5.3 (-3.99%)

13:16
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Periodicals
Health stocks preparing for market jolt after Obamacare ruling, Bloomberg says »

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ANTM

Anthem

$275.59

-4.93 (-1.76%)

CNC

Centene

$127.55

-5.3 (-3.99%)

CI

Cigna

$205.34

-6.63 (-3.13%)

UNH

UnitedHealth

$265.06

-7.2 (-2.64%)

HUM

Humana

$300.41

-12.09 (-3.87%)

WCG

WellCare

$236.90

-7.44 (-3.04%)

MOH

Molina Healthcare

$131.72

-11.19 (-7.83%)

HNT

Health Net

$0.00

(0.00%)

AET

Aetna

$0.00

(0.00%)

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JELD

Jeld-Wen

$14.27

-0.46 (-3.12%)

13:02
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Jeld-Wen announces final ruling in Steves & Sons litigation, to appeal decision »

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ATRA

Atara Biotherapeutics

$41.78

-0.74 (-1.74%)

12:55
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Hot Stocks
Atara Biotherapeutics presents positive efficacy, safety results for EBV + LMS »

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BGNE

BeiGene

$133.95

2.595 (1.98%)

12:41
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BeiGene announces updated Phase 1A/1B data on tislelizumab »

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JELD

Jeld-Wen

$14.27

-0.46 (-3.12%)

12:35
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12:35
Hot Stocks
Jeld-Wen ordered to divest Pennsylvania plant to restore competition »

Federal Judge Robert…

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BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

, RHHBY

Roche

$0.00

(0.00%)

04:55
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04:55
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04:55
Conference/Events
European Society for Medical Oncology (ESMO) to hold a conference »

ESMO Immuno-Oncology…

BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

RHHBY

Roche

$0.00

(0.00%)

CELG

Celgene

$68.20

-1.55 (-2.22%)

MRK

Merck

$76.50

-1.94 (-2.47%)

PFE

Pfizer

$43.84

-0.71 (-1.59%)

FLDM

Fluidigm

$7.79

-0.39 (-4.77%)

NEO

NeoGenomics

$13.25

-0.18 (-1.34%)

SGEN

Seattle Genetics

$60.46

-0.5 (-0.82%)

TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

IMV

IMV Inc

$5.65

-0.14 (-2.42%)

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SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

, GOV

Government Properties

$7.68

-0.41 (-5.07%)

17:08
12/15/18
12/15
17:08
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17:08
Conference/Events
Select Income REIT to host special shareholder meeting »

Special Shareholder…

SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

GOV

Government Properties

$7.68

-0.41 (-5.07%)

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GOV

Government Properties

$7.68

-0.41 (-5.07%)

, SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

17:06
12/15/18
12/15
17:06
12/15/18
17:06
Conference/Events
Government Properties to host special shareholder meeting »

Special Shareholder…

GOV

Government Properties

$7.68

-0.41 (-5.07%)

SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

12:37
12/15/18
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12:37
12/15/18
12:37
Periodicals
U.S. stocks could rally about 10% in 2019, Barron's says »

As U.S. stocks stumble…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

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