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INFN

Infinera

$8.42

-0.02 (-0.24%)

04:55
08/15/18
08/15
04:55
08/15/18
04:55

Infinera management to meet with Needham

Meeting to be held in Boston on August 15 hosted by Needham.

  • 15

    Aug

  • 20

    Aug

INFN Infinera
$8.42

-0.02 (-0.24%)

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

GOOG

Alphabet

$1,248.36

-0.6 (-0.05%)

, GOOGL

Alphabet Class A

$1,253.24

-0.7 (-0.06%)

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Periodicals
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GOOG

Alphabet

$1,248.36

-0.6 (-0.05%)

GOOGL

Alphabet Class A

$1,253.24

-0.7 (-0.06%)

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ZTO

ZTO Express

$19.60

0.3 (1.55%)

09:51
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DOOO

BRP Inc.

$30.94

(0.00%)

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09:50
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General news
FX Action: USD-JPY »

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MLI

Mueller Industries

$28.50

-2.7 (-8.65%)

09:47
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JP

Jupai Holdings

$3.50

-0.47 (-11.84%)

09:47
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WAT

Waters

$200.02

-41.06 (-17.03%)

09:47
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Waters falls -17.1% »

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KSS

Kohl's

$72.06

4.63 (6.87%)

09:47
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  • 15

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CE

Celanese

$112.78

8.28 (7.92%)

09:47
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Celanese rises 8.2% »

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  • 23

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TWTR

Twitter

$37.51

3.12 (9.07%)

09:47
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04/23
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Hot Stocks
Twitter rises 9.5% »

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  • 23

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09:45
04/23/19
04/23
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09:45
General news
New Home Sales to be reported at 10:00 »

March New Home Sales will…

09:45
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04/23
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General news
Richmond Fed Manufacturing Index Level to be reported at 10:00 »

April Richmond Fed…

TPR

Tapestry

$30.68

(0.00%)

09:42
04/23/19
04/23
09:42
04/23/19
09:42
Downgrade
Tapestry rating change  »

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  • 29

    May

WPM

Wheaton Precious Metals

$21.79

(0.00%)

09:42
04/23/19
04/23
09:42
04/23/19
09:42
Downgrade
Wheaton Precious Metals rating change  »

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  • 09

    May

WHR

Whirlpool

$139.39

(0.00%)

, MAT

Mattel

$11.78

(0.00%)

09:40
04/23/19
04/23
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Options
Unusually active option classes on open April 23rd »

Unusual total active…

WHR

Whirlpool

$139.39

(0.00%)

MAT

Mattel

$11.78

(0.00%)

KSS

Kohl's

$67.43

(0.00%)

LMT

Lockheed Martin

$315.24

(0.00%)

HOG

Harley-Davidson

$39.71

(0.00%)

TWTR

Twitter

$34.39

(0.00%)

PG

Procter & Gamble

$106.04

(0.00%)

TGT

Target

$82.00

(0.00%)

HAL

Halliburton

$31.09

(0.00%)

KO

Coca-Cola

$47.38

(0.00%)

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  • 05

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  • 13

    Nov

09:40
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General news
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General news
Treasury Action: yields are sliding and are down 1.3 to 2.5 bps »

Treasury Action: yields…

HOG

Harley-Davidson

$39.71

-1.2 (-2.93%)

09:39
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  • 23

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  • 09

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DIS

Disney

09:37
04/23/19
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09:37
Recommendations
Disney analyst commentary at BofA/Merrill »

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  • 08

    May

AEM

Agnico Eagle

$40.16

-0.235 (-0.58%)

09:37
04/23/19
04/23
09:37
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09:37
Upgrade
Agnico Eagle rating change  »

Agnico Eagle upgraded to…

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  • 26

    Apr

BPOP

Popular

$55.94

-0.83 (-1.46%)

09:37
04/23/19
04/23
09:37
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09:37
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Popular analyst commentary  »

Popular price target…

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  • 08

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  • 11

    Jun

NFLX

Netflix

$377.43

17.21 (4.78%)

09:35
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Netflix announces proposed $2B offering of senior notes »

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  • 03

    Jun

LRCX

Lam Research

$195.15

0.4 (0.21%)

, AMAT

Applied Materials

$43.78

-0.16 (-0.36%)

09:34
04/23/19
04/23
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Recommendations
Lam Research, Applied Materials analyst commentary at Needham »

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LRCX

Lam Research

$195.15

0.4 (0.21%)

AMAT

Applied Materials

$43.78

-0.16 (-0.36%)

03/08/13
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  • 24

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TPR

Tapestry

$30.68

-1.85 (-5.69%)

09:32
04/23/19
04/23
09:32
04/23/19
09:32
Downgrade
Tapestry rating change  »

Tapestry downgraded to…

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  • 29

    May

FTS

Fortis

$37.19

-0.08 (-0.21%)

09:31
04/23/19
04/23
09:31
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09:31
Downgrade
Fortis rating change  »

Fortis downgraded to…

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  • 01

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