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INFN

Infinera

$8.44

-0.17 (-1.97%)

07:22
08/14/18
08/14
07:22
08/14/18
07:22

Infinera management to meet with Deutsche Bank

Meeting to be held in New York on August 14 hosted by Deutsche Bank.

  • 14

    Aug

  • 15

    Aug

  • 20

    Aug

INFN Infinera
$8.44

-0.17 (-1.97%)

07/24/18
NORL
07/24/18
UPGRADE
Target $12
NORL
Outperform
Infinera upgraded to Outperform at Northland on added Coriant opportunity
As reported earlier, Northland analyst Tim Savageaux upgraded Infinera to Outperform from Market Perform with a $12 price target, saying the calculus of his March downgrade changes with the acquisition of Coriant, giving the company a double-digit market share in 100G+ optical systems. The analyst also sees the deal price as "attractive" at 0.6-times revenue and the model as "viable" even with conservative synergy assumptions and Infinera's prior acquisition integration challenges.
07/24/18
WBLR
07/24/18
NO CHANGE
WBLR
Outperform
Positives of Infinera deal 'meaningfully' outweigh risks, says William Blair
William Blair analyst Dmitry Netis believes the positives of Infinera's (INFN) acquisition of Coriant "meaningfully" outweigh the risks. If nothing else, the deal takes out a "nonsensical price disrupter from the market," Netis tells investors in a research note. The deal could be also very accretive, if management can execute, which is "no slam dunk," the analyst adds. His first cut pro forma model yields pro forma earnings per share of 78c by 2020 and $1.25 by 2021. Using a 15 times multiple on $1.25 in EPS in 2021, discounted back three years at 15%, yields a fair value of Infinera shares in the low- to mid-teens, Netis writes. He keeps an Outperform rating on Infinera. He also believes Ciena (CIEN) will trade up on the news while Acacia Communications (ACIA) may be pressured given customer consolidation, potential for greater discounting through longer-term price contracts, and risks of vertical integration by Infinera.
07/24/18
07/24/18
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. Mosaic (MOS) double upgraded to Buy from Underperform at BofA/Merrill with analyst Steve Byrne saying he believes 2018 will mark a bottom in global phosphate utilization rates and now believes there is more upside risk to consensus estimates as the cycle improves. 2. Live Nation (LYV) upgraded to Buy from Neutral at BTIG with analyst Brandon Ross saying he is now more convinced that the company will outperform expectations amid inflecting growth rate with an added possibility of M&A. 3. Infinera (INFN) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying the calculus of his March downgrade changes with the acquisition of Coriant, giving the company a double-digit market share in 100G+ optical systems. 4. Baker Hughes (BHGE) upgraded to Buy from Hold at SunTrust with analyst Ken Sill saying the EPS miss was due to higher interest expense and taxes, as well as an asset charge that is "hopefully non-recurring." 5. Werner (WERN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ken Hoexter saying Q2 freight demand in One way Truckload was much stronger than normal and revenue per load mile was up 13.3% year-over-year, the strongest level in more than 20 years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/24/18
07/24/18
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. Whirlpool (WHR) downgraded to Neutral from Buy at Longbow with analyst David MacGregor calling its quarter "disappointing across most dimensions of the business." 2. Gogo (GOGO) downgraded to Market Perform from Outperform at Raymond James with analyst Ric Prentiss saying he expects several more quarters of "turbulence" given potential dilution/rollover risks from 2020 bond convertible bond maturities, churn pressures, continued negative free cash flow, and the airline industry shift to directed pricing. 3. Marriott (MAR) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Thomas Allen saying he is more bullish on the Gaming REITs, given their attractive, dependable yields, and has become more cautious on Lodging, he tells investors. 4. Infinera (INFN) downgraded to Underperform from Market Perform at Raymond James. 5. Hasbro (HAS) downgraded to Neutral from Buy at Monness Crespi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ACIU

AC Immune

$11.58

0.63 (5.75%)

, LLY

Eli Lilly

$114.49

0.38 (0.33%)

06:32
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12/12
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06:32
Hot Stocks
AC Immune, Eli Lilly announce license and collaboration agreement »

AC Immune (ACIU) and Eli…

ACIU

AC Immune

$11.58

0.63 (5.75%)

LLY

Eli Lilly

$114.49

0.38 (0.33%)

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  • 19

    Dec

OMI

Owens & Minor

$7.11

-0.19 (-2.60%)

06:32
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12/12
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Owens & Minor names Robert Snead as EVP & CFO »

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BKH

Black Hills

$67.28

0.06 (0.09%)

06:31
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06:31
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Black Hills rating change  »

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EMR

Emerson

$62.30

-0.28 (-0.45%)

06:30
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06:30
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ES

Eversource

$70.18

0.53 (0.76%)

06:30
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12/12
06:30
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06:30
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Eversource rating change  »

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  • 13

    Dec

GOOG

Alphabet

$1,051.82

11.8 (1.13%)

, GOOGL

Alphabet Class A

$1,061.32

8.52 (0.81%)

06:29
12/12/18
12/12
06:29
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06:29
Periodicals
Google CEO faces questions from lawmakers on alleged political bias, WSJ says »

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GOOG

Alphabet

$1,051.82

11.8 (1.13%)

GOOGL

Alphabet Class A

$1,061.32

8.52 (0.81%)

03/08/13
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  • 03

    Mar

CS

Credit Suisse

$10.92

-0.09 (-0.82%)

06:27
12/12/18
12/12
06:27
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06:27
Hot Stocks
Credit Suisse sees FY18 reported pre-tax income CHF3.2B-CHF3.4B »

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CS

Credit Suisse

$10.92

-0.09 (-0.82%)

06:25
12/12/18
12/12
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06:25
Hot Stocks
Credit Suisse board approves buyback of up to CHF1.5B »

At its 2018 investor day,…

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MAR

Marriott

$110.04

-0.78 (-0.70%)

06:22
12/12/18
12/12
06:22
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06:22
Periodicals
Chinese hackers behind Marriott data breach, NY Times reports »

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SIX

Six Flags

$58.40

-1.46 (-2.44%)

06:20
12/12/18
12/12
06:20
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06:20
Initiation
Six Flags initiated  »

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GOOG

Alphabet

$1,051.82

11.8 (1.13%)

, GOOGL

Alphabet Class A

$1,061.32

8.52 (0.81%)

06:20
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12/12
06:20
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06:20
Periodicals
Snowden, others call for Pichai to kill Google's 'Project Dragonfly,' BI reports »

NSA whistleblower Edward…

GOOG

Alphabet

$1,051.82

11.8 (1.13%)

GOOGL

Alphabet Class A

$1,061.32

8.52 (0.81%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 03

    Mar

BY

Byline Bancorp

$18.91

-0.32 (-1.66%)

06:18
12/12/18
12/12
06:18
12/12/18
06:18
Conference/Events
Byline Bancorp management to meet with Piper Jaffray »

Meetings to be held in…

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  • 12

    Dec

RY

Royal Bank of Canada

$69.76

-0.44 (-0.63%)

06:17
12/12/18
12/12
06:17
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06:17
Upgrade
Royal Bank of Canada rating change  »

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  • 08

    Jan

CORT

Corcept Therapeutics

$17.16

4.18 (32.20%)

06:17
12/12/18
12/12
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06:17
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Corcept Therapeutics rating change  »

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LULU

Lululemon

$116.67

1.66 (1.44%)

06:17
12/12/18
12/12
06:17
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06:17
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Lululemon rating change  »

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  • 14

    Dec

BBY

Best Buy

, AMZN

Amazon.com

$1,643.50

3.13 (0.19%)

06:16
12/12/18
12/12
06:16
12/12/18
06:16
Recommendations
Best Buy, Amazon.com analyst commentary  »

Best Buy…

BBY

Best Buy

AMZN

Amazon.com

$1,643.50

3.13 (0.19%)

03/08/13
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  • 19

    Dec

  • 20

    Dec

KRYS

Krystal Biotech

$23.49

0.38 (1.64%)

06:16
12/12/18
12/12
06:16
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06:16
Initiation
Krystal Biotech initiated  »

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FOMX

Foamix

$3.81

-0.19 (-4.75%)

06:13
12/12/18
12/12
06:13
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06:13
Initiation
Foamix initiated  »

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NSANY

Nissan

$0.00

(0.00%)

, RNSDF

Renault

$0.00

(0.00%)

06:13
12/12/18
12/12
06:13
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06:13
Periodicals
Nissan shares detailed allegations against Ghosn with Renault, FT reports »

Nissan (NSANY) has shared…

NSANY

Nissan

$0.00

(0.00%)

RNSDF

Renault

$0.00

(0.00%)

03/08/13
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  • 07

    Jan

BHC

Bausch Health

$23.09

0.25 (1.09%)

, SGYP

Synergy Pharmaceuticals

$0.34

-0.0094 (-2.69%)

06:13
12/12/18
12/12
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Hot Stocks
Bausch Health to acquire Synergy Pharmaceuticals for $200M through Chapter 11 »

Synergy Pharmaceuticals…

BHC

Bausch Health

$23.09

0.25 (1.09%)

SGYP

Synergy Pharmaceuticals

$0.34

-0.0094 (-2.69%)

03/08/13
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  • 15

    Feb

  • 25

    Feb

EADSY

Airbus

$0.00

(0.00%)

06:11
12/12/18
12/12
06:11
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06:11
Periodicals
Airbus staff error led to fatal 2017 German helicopter crash, Reuters reports »

The fatal crash in 2017…

03/08/13
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KEY

KeyCorp

$15.93

-0.075 (-0.47%)

06:09
12/12/18
12/12
06:09
12/12/18
06:09
Downgrade
KeyCorp rating change  »

KeyCorp downgraded to…

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  • 17

    Jan

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$264.13

0.04 (0.02%)

06:07
12/12/18
12/12
06:07
12/12/18
06:07
Periodicals
Senate confirms Muzinich as Deputy Treasury Secretary, WSJ reports »

The Senate has confirmed…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$264.13

0.04 (0.02%)

03/08/13
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PLAY

Dave & Buster's

$51.08

-1.44 (-2.74%)

06:07
12/12/18
12/12
06:07
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06:07
Recommendations
Dave & Buster's analyst commentary  »

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  • 14

    Dec

LLY

Eli Lilly

$114.49

0.38 (0.33%)

, ACIU

AC Immune

$11.58

0.63 (5.75%)

06:06
12/12/18
12/12
06:06
12/12/18
06:06
Hot Stocks
Eli Lilly, AC Immune to develop tau aggregation inhibitor small molecules »

Eli Lilly (LLY) and AC…

LLY

Eli Lilly

$114.49

0.38 (0.33%)

ACIU

AC Immune

$11.58

0.63 (5.75%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 19

    Dec

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