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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%)

  • 04

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  • 12

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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

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FactSet

$231.53

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, JBL

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$30.08

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GOOG

Alphabet

$1,173.38

7.17 (0.61%)

, GOOGL

Alphabet Class A

$1,179.78

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ASNA

Ascena Retail

$4.02

-0.21 (-4.96%)

, BAS

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BAS

Basic Energy

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KEG

Key Energy

$13.46

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PSTI

Pluristem

$1.31

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ARNA

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$42.80

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NOVN

Novan

$2.72

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SNDX

Syndax

$7.23

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DCPH

Deciphera

$39.80

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BJ

BJ's Wholesale

$28.47

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PETQ

PetIQ

$41.07

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CNP

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CTL

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$22.90

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PBR

Petrobras

$11.40

-0.105 (-0.91%)

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PBR

Petrobras

$11.40

-0.105 (-0.91%)

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VRSN

VeriSign

$158.97

-0.79 (-0.49%)

18:39
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Recommendations
VeriSign analyst commentary at JPMorgan »

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TI

Telecom Italia

$6.54

-0.1 (-1.51%)

18:35
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Periodicals
Telecom Italia discussed Nextel bid at board meeting, Bloomberg says »

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INSG

Inseego

$4.01

-0.08 (-1.96%)

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Inseego names John Weldon to head Enterprise SaaS Solutions division »

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PCG

PG&E

$46.30

-0.48 (-1.03%)

18:31
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PG&E says will invest $360M in electric car infrastructure, Bloomberg says »

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KKR

$28.25

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UNH

UnitedHealth

$267.35

0.6 (0.22%)

, EVHC

Envision Healthcare

$45.72

0.07 (0.15%)

18:17
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Periodicals
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UnitedHealth

$267.35

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EVHC

Envision Healthcare

$45.72

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AMZN

Amazon.com

$1,934.50

16.75 (0.87%)

, UBER

Uber

$0.00

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Periodicals
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Amazon.com

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Uber

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BK

BNY Mellon

$52.36

-0.9 (-1.69%)

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EPZM

Epizyme

$10.23

-0.075 (-0.73%)

17:44
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Initiation
Epizyme initiated at Leerink »

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NAVB

Navidea

$0.25

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LYL

Dragon Victory

$1.46

(0.00%)

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RDS.A

Royal Dutch Shell

$68.18

0.89 (1.32%)

, RDS.B

Royal Dutch Shell

$70.25

0.67 (0.96%)

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Royal Dutch Shell

$68.18

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Royal Dutch Shell

$70.25

0.67 (0.96%)

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SEND

SendGrid

$35.40

-0.085 (-0.24%)

17:27
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09/24
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17:27
Initiation
SendGrid initiated at First Analysis »

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PGNX

Progenics

$6.44

0.03 (0.47%)

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Breaking Hot Stocks news story on Progenics »

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VLY

Valley National

$11.76

-0.26 (-2.16%)

17:20
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Hot Stocks
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