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GLPI

Gaming and Leisure Properties

$34.88

0.04 (0.11%)

, AGS

PlayAGS

$30.33

0.16 (0.53%)

11:10
08/14/18
08/14
11:10
08/14/18
11:10

Fly Intel: Today's top analyst calls on Wall Street

Check out today's top analyst calls from around Wall Street, compiled by The Fly. CREDIT SUISSE INITIATES CASINO STOCKS: Credit Suisse analyst Cameron McKnight initiated Gaming and Leisure Properties (GLPI), VICI Properties (VICI), and PlayAGS (AGS) with an Outperform, Las Vegas Sands (LVS), Wynn Resorts (WYNN), MGM Growth (MGP), and International Game (IGT) with a Neutral, as well as Scientific Games (SGMS) with an Underperform. MORGAN STANLEY RAISES SALESFORCE PRICE TARGET TO $178 FROM $153: Morgan Stanley analyst Keith Weiss raised his price target for Salesforce (CRM) shares to $178 from $153 and maintained an Overweight rating. Weiss noted that unlocking data trapped in legacy systems via MuleSoft brings the company to the forefront of driving digital transformation for its customers and added that consensus expectations likely underestimate its growth potential as well as its improved track record in M&A. JEFFRIES SAYS "SIGNIFICANT SHAREHOLDER VALUE TO BE UNLOCKED" AT NIELSEN: Even following yesterday's 12% rally, there is "significant shareholder value to be unlocked" at Nielsen Holdings (NLSN), Jefferies analyst Surinder Thind told investors in a research note. Nielsen was also upgraded to Outperform from Neutral at Macquarie and to Equal Weight from Underweight at Barclays. Morgan Stanley analyst Toni Kaplan reiterated an Overweight rating and $26 price target on the stock. NOMURA RAISES PRICE TARGET AFTER SQUARE CASH APP SURPASSED PAYPAL'S VENMO IN JULY: Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $86 from $82 after his firm's July payments app tracker showed cumulative Square Cash App downloads surpassed PayPal's (PYPL) Venmo for the first time. SWITCH DOWNGRADED AT MULTIPLE FIRMS: Switch (SWCH) was downgraded to Market Perform from Outperform at Raymond James, to Neutral from Overweight at JPMorgan, and to Neutral from Buy at BTIG. Switch shares are down about 25% in morning trading.

GLPI

Gaming and Leisure Properties

$34.88

0.04 (0.11%)

AGS

PlayAGS

$30.33

0.16 (0.53%)

VICI

VICI Properties

$20.30

0.215 (1.07%)

LVS

Las Vegas Sands

$67.08

(0.00%)

WYNN

Wynn Resorts

$144.45

-3.55 (-2.40%)

MGP

MGM Growth

$29.47

0.18 (0.61%)

IGT

International Game

$20.41

-0.15 (-0.73%)

SGMS

Scientific Games

$31.45

-0.3 (-0.94%)

CRM

Salesforce

$145.87

1.47 (1.02%)

NLSN

Nielsen

$26.06

1.44 (5.85%)

SQ

Square

$74.40

2.03 (2.81%)

SWCH

Switch

$10.53

-3.43 (-24.57%)

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GLPI Gaming and Leisure Properties
$34.88

0.04 (0.11%)

07/24/18
MSCO
07/24/18
UPGRADE
MSCO
Overweight
Gaming and Leisure Properties upgraded to Overweight at Morgan Stanley
04/13/18
JEFF
04/13/18
NO CHANGE
JEFF
Jefferies sees opportunity in smid-cap casino stocks after selloff
The recent selloff in smid-cap casino stocks has been driven by the impact of severe weather in the regional markets as well as a challenging quarter in Las Vegas, Jefferies analyst David Katz tells investors in a research note. Following the release of positive March gross gaming revenue from several important regional markets, the context for the quarter is more positive, Katz adds. He believes the share selloff is overdone and presents opportunities in Caesars (CZR) and Penn National Gaming (PENN), among others.
08/13/18
FBCO
08/13/18
INITIATION
Target $41
FBCO
Outperform
Gaming and Leisure Properties initiated with an Outperform at Credit Suisse
Credit Suisse analyst Cameron McKnight started Gaming and Leisure Properties with an Outperform rating and $41 price target. The analyst says that while the company's growth and upside to estimates is dependent on acquisitions, the current valuation is "undemanding."
07/24/18
07/24/18
UPGRADE

Overweight
Morgan Stanley upgrades Gaming and Leisure to Overweight in defensive shift
As previously reported, Morgan Stanley analyst Thomas Allen upgraded Gaming and Leisure Properties (GLPI) to Overweight from Equal Weight as he joins the firm in recommending that investors turn more defensive. He is more bullish on the Gaming REITs, given their attractive, dependable yields, and has become more cautious on Lodging, he tells investors. The analyst raised his price target on Gaming and Leisure shares to $41 from $37, on MGM Growth (MGP) to $32 from $29, and on VICI Properties (VICI) to $23 from $22. As part of his defensive shift in positioning, Allen also downgraded Marriott (MAR).
AGS PlayAGS
$30.33

0.16 (0.53%)

08/13/18
FBCO
08/13/18
INITIATION
Target $35
FBCO
Outperform
PlayAGS initiated with an Outperform at Credit Suisse
Credit Suisse analyst Cameron McKnight started PlayAGS with an Outperform rating and $35 price target. The analyst sees "strong" growth prospects for the company and potential upside to consensus estimates. He sees "significant" market share momentum and shipment growth for PlayAGS.
08/10/18
JEFF
08/10/18
UPGRADE
Target $36
JEFF
Buy
PlayAGS upgraded to Buy from Hold at Jefferies
Jefferies analyst David Katz upgraded PlayAGS to Buy and raised his price target for the shares to $36 from $26. The analyst sees "strong product momentum" and expects the company's "beat and raise cycle" to continue through 2020. Katz raised his estimates for PlayAGS above consensus.
07/18/18
DBAB
07/18/18
NO CHANGE
Target $34
DBAB
Buy
PlayAGS price target raised to $34 from $25 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli raised his price target for PlayAGS to $34 saying he expects "continued solid, though decelerating" growth rates in domestic replacement activity throughout 2018. Further, expansion within the tribal segment and some new commercial casino openings will drive stronger relative unit sales in Q2 and Q3, Santarelli tells investors in a research note. He keeps a Buy rating on PlayAGS.
02/20/18
02/20/18
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. Imax (IMAX) assumed with an Overweight at JPMorgan. 2. Gates Industrial (GTES) was initiated with an Outperform at RBC Capital and Credit Suisse, an Overweight at Morgan Stanley and KeyBanc, as well as a Buy at SunTrust, UBS, and Citi. 3. Menlo Therapeutics (MNLO) was initiated with an Outperform at JMP Securities, an Overweight at Piper Jaffray, and a Buy at Jefferies. 4. PlayAGS (AGS) was initiated with a Buy at SunTrust, BofA/Merrill, and Deutsche Bank. 5. PagSeguro Digital (PAGS) was initiated with a Neutral at JPMorgan, BofA/Merrill, UBS, and Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
VICI VICI Properties
$20.30

0.215 (1.07%)

08/02/18
08/02/18
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. Magnolia Oil & Gas (MGY) initiated with a Buy at SunTrust. 2. VICI Properties (VICI) initiated with a Neutral at Citi. 3. Cision (CISN) initiated with a Buy at Citi. 4. Allena Pharmaceuticals (ALNA) initiated with a Buy at Ladenburg. 5. NXP Semiconductors (NXPI) reinstated with an Equal Weight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/02/18
SBSH
08/02/18
INITIATION
Target $22
SBSH
Neutral
VICI Properties initiated with a Neutral at Citi
Citi analyst Michael Bilerman started VICI Properties with a Neutral rating and $22 price target. The analyst believes catalysts for outperformance are balanced by "identifiable risks."
08/13/18
FBCO
08/13/18
INITIATION
Target $24
FBCO
Outperform
VICI Properties initiated with an Outperform at Credit Suisse
Credit Suisse analyst Cameron McKnight started VICI Properties with an Outperform rating and $24 price target. The analyst sees "strong" growth prospects and potential upside to consensus estimates given the company's "favorable mix" of Las Vegas and regional assets.
LVS Las Vegas Sands
$67.08

(0.00%)

07/05/18
MSCO
07/05/18
NO CHANGE
MSCO
Pullback in Macau gaming names a buying opportunity, says Morgan Stanley
Morgan Stanley analyst Thomas Allen believes the recent selloff in Macau gaming stocks is overdone, as he contends the fact that Macau's gaming revenue growth has missed on the headline for two months in a row is attributable to rising expectations, foreign exchange impacts and likely an improper factoring in of seasonality and the World Cup. Q2 gross gaming revenue growth of 17.2% still beat his forecast of 16%, noted Allen, who said Las Vegas Sands (LVS) continues to be his favored gaming name. He also has an Overweight rating on MGM Resorts (MGM). Allen keeps an Equal Weight rating on Wynn Resorts (WYNN), but sees the stock becoming increasingly attractive if Macau is still "very healthy," as he suspects.
07/20/18
MSCO
07/20/18
NO CHANGE
MSCO
MGM Resorts forecast lowered at Morgan Stanley to account for Macau share loss
Morgan Stanley analyst Thomas Allen, in his preview of Q2 results for the Gaming names he covers, noted that Macau GGR increased 17% in Q2, which was above his estimate of 16% growth. He also said he expects Las Vegas has had a "relatively good" quarter, noting RevPAR in April-May was up 6% and June has a "relatively easy" comparison. Allen lowered his Q2 consolidated property EBITDA estimate for MGM Resorts (MGM) by 2%, factoring in more share loss at the Peninsula property and worse hold as well as lower MGM Cotai EBITDA, and he lowered his price target on MGM to $38 from $39. He raised his Q2 consolidated property EBITDA estimate for Las Vegas Sands (LVS) by 1% and keeps an $86 price target on the stock. He raised his Q2 property EBITDA view for Wynn (WYNN) by 3% and keeps a $200 price target on its shares. Allen has Overweight ratings on Las Vegas Sands and MGM and an Equal Weight rating on Wynn Resorts.
08/06/18
MSCO
08/06/18
NO CHANGE
MSCO
Boeing, Tesla, Nvidia make Morgan Stanley 'key man risk' list
Morgan Stanley equity strategist Mark Savino noted that about 12% of CEO jobs among S&P 500 companies turned over in 2017, noting that this was the highest level of CEO departures since before the financial crisis. The 59 stocks of S&P 500 companies that had CEOs depart in 2017 underperformed the market by 11% over the next 12 months, or since the departure for instances that were less than 12 months ago, noted Savino. In cooperation with the firm's U.S. analysts, Savino and his team identified the companies in each sector they believe face the greatest level of "key man risk," which includes: Boeing (BA), Tesla (TSLA), ADT Inc. (ADT), Moody's (MCO), TransUnion (TRU), Arista Networks (ANET), Church & Dwight (CHD), Coca-Cola (KO), Monster Beverage (MNST), Coupa Software (COUP), Salesforce (CRM), FireEye (FEYE), MongoDB (MDB), Microsoft (MSFT), New Relic (NEWR), XPO Logistics (XPO), Hilton (HLT), Las Vegas Sands (LVS), Best Buy (BBY), Ulta (ULTA), Aflac (AFL), Athene Holding (ATH), Lincoln National (LNC), Arthur J. Gallagher (AJG), Chubb (CB), Amazon.com (AMZN), Activision Blizzard (ATVI), Facebook (FB), Alphabet (GOOGL), Apple (AAPL), Terex (TEX), Cleveland-Cliffs (CLF), Freeport McMoRan (FCX), FleetCor (FLT), Global Payments (GPN), Square (SQ), Jazz Pharmaceuticals (JAZZ), Cheesecake Factory (CAKE), Broadcom (AVGO), Nvidia (NVDA), Chegg (CHGG), DXC Technology (DXC), Medidata (MDSO), Pluralsight (PS), RealPage (RP), Shopify (SHOP) and T-Mobile (TMUS).
08/13/18
FBCO
08/13/18
INITIATION
Target $72
FBCO
Neutral
Las Vegas Sands initiated with a Neutral at Credit Suisse
Credit Suisse analyst Cameron McKnight started Las Vegas Sands with a Neutral rating and $72 price target. The analyst believes the short to medium term outlook in Macau is "less certain" and views the current valuation as reasonable.
WYNN Wynn Resorts
$144.45

-3.55 (-2.40%)

08/07/18
08/07/18
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. Zillow (Z, ZG) downgraded to Neutral from Buy at BofA/Merrill with analyst Nat Schindler saying the quarter indicated Zillow is taking longer than expected to ramp up the Homes business, Rentals revenue missed and the outlook cut, and other revenue also missed, indicating new construction opportunity is also taking longer to materialize. 2. CBS (CBS) downgraded to Hold from Buy at Argus with analyst Joseph Bonner citing significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIAB) merger. 3. Extraction Oil & Gas (XOG) downgraded to Neutral from Outperform at Macquarie with analyst Paul Grigel citing increased risk from Colorado Initiative 97. 4. Wynn Resorts (WYNN) downgraded to Hold from Buy at Argus with analyst John Staszak citing its Q2 earnings miss, saying the gross gaming revenue in Macau has now missed consensus forecasts for the months of June and July. 5. Dentsply Sirona (XRAY) downgraded to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/18
JEFF
08/14/18
DOWNGRADE
Target $170
JEFF
Hold
Wynn Resorts downgraded to Hold from Buy at Jefferies
Jefferies analyst David Katz downgraded Wynn Resorts to Hold and lowered his price target for the shares to $170 from $229. The recent board additions and standstill agreement with the largest shareholder reduces the "speculative premium in the shares," Katz tells investors in a research note. He believes the changes suggest the ownership structure is not likely to change for two years. Further, competition in Macau is likely to remain a "persistent dynamic," the analyst adds.
08/13/18
FBCO
08/13/18
INITIATION
Target $155
FBCO
Neutral
Wynn Resorts initiated with a Neutral at Credit Suisse
Credit Suisse analyst Cameron McKnight started Wynn Resorts with a Neutral rating and $155 price target. The company;s is levered to Macau's growth, but the short-term outlook for the region is "less certain," the analyst contends. Further, a breakup or sale of the company is "not assured, and not necessarily accretive," McKnight tells investors in a research note.
08/07/18
ARGS
08/07/18
DOWNGRADE
ARGS
Hold
Wynn Resorts downgraded to Hold at Argus on Macau revenue concerns
As reported earlier, Argus analyst John Staszak downgraded Wynn Resorts to Hold after its Q2 earnings miss, saying the gross gaming revenue in Macau has now missed consensus forecasts for the months of June and July. The analyst adds that he is worried about potential cannibalization of Wynn Macau by Wynn Palace, the impact of China government's money laundering efforts, and a casino smoking ban, along with rising compensation costs pressuring margins. As part of his research note, Staszak also lowers his FY18 EPS forecast on Wynn to $7.40 from $8.10 and FY19 forecast to $9.10 from $9.50.
MGP MGM Growth
$29.47

0.18 (0.61%)

04/08/18
EVER
04/08/18
UPGRADE
EVER
Outperform
MGM Growth upgraded to Outperform from In Line at Evercore ISI
08/08/18
SBSH
08/08/18
UPGRADE
Target $32
SBSH
Buy
MGM Growth upgraded to Buy from Neutral at Citi
Citi upgraded MGM Growth Properties to Buy saying the potential acquisition of Springfield provides a near-term catalyst for the shares. The firm raised its price target for the stock to $32.
08/13/18
FBCO
08/13/18
INITIATION
Target $31
FBCO
Neutral
MGM Growth initiated with a Neutral at Credit Suisse
Credit Suisse analyst Cameron McKnight started MGM Growth Properties with a Neutral rating and $31 price target. The analyst views the current valuation as "relatively full."
IGT International Game
$20.41

-0.15 (-0.73%)

06/15/18
06/15/18
UPGRADE
Target $33

Buy
International Game upgraded to Buy on valuation at Union Gaming
As previously reported, Union Gaming upgraded International Game to Buy from Hold. Analyst John DeCree changed his view saying valuation is attractive ahead of the August 2 analyst day.
08/13/18
FBCO
08/13/18
INITIATION
Target $24
FBCO
Neutral
International Game initiated with a Neutral at Credit Suisse
Credit Suisse analyst Cameron McKnight started International Game Technology with a Neutral rating and $24 price target. The analyst sees limited growth for the company given the "very mature and defensive" Lottery business.
06/15/18
UGAM
06/15/18
UPGRADE
UGAM
Buy
International Game upgraded to Buy from Hold at Union Gaming
08/03/18
DBAB
08/03/18
NO CHANGE
DBAB
Buy
International Game removed from catalyst call buy list at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli removed International Game Technology from his firm's catalyst call list to buy the stock. There is market volatility in the gaming space and two of the short-term investment catalysts have played out, Santarelli tells investors in a research note. The analyst keeps a Buy rating on International Game.
SGMS Scientific Games
$31.45

-0.3 (-0.94%)

05/15/18
BOFA
05/15/18
NO CHANGE
BOFA
Supreme Court ruling on sports betting positive for regionals, game tech, says BofA/Merrill
BofA/Merrill analyst Shaun Kelley notes that the Supreme Court ruled 6-3 to repeal the Professional and Amateur Sports Protection Act, which had effectively banned full sports betting in every state except Nevada. While the analyst expects operator margins to be low, he sees upside for all of regional gaming, while gaming tech could be a key beneficiary. Reflecting sports betting in higher multiples, Kelley raised his price targets for Boyd Gaming (BYD) to $45 from $42, Penn National (PENN) to $36 from $32, Scientific Games (SGMS) to $70 from $60, and International Game (IGT) to $36 from $34.
08/13/18
FBCO
08/13/18
INITIATION
Target $31
FBCO
Underperform
Scientific Games initiated with an Underperform at Credit Suisse
Credit Suisse analyst Cameron McKnight started Scientific Games with an Underperform rating and $31 price target. The company's "extremely high" leverage means there is not dividend support, McKnight tells investors in a research note. Further, he notes Scientific Games' revenue and EBITDA growth has slowed.
05/14/18
JEFF
05/14/18
NO CHANGE
JEFF
Jefferies says Penn National, Caesars among winners from sports gaming ruling
After the Supreme Court ruled that the PASPA provision prohibiting state authorization of organized sports gambling violates the tenth amendment, Jefferies analyst David Katz reiterated his view on which companies are positioned to be key beneficiaries of the decision. He continues to identify Penn National (PENN) and Caesars (CSR) as among the top winners in terms of casino operators, followed by Eldorado Resorts (ERI), Churchill Downs (CHDN), Boyd Gaming (BYD), Monarch Casino (MCRI), and MGM Resorts (MGM). He also sees "location-agnostic" suppliers Scientific Games (SGMS) and International Game (IGT) as winners, Katz tells investors.
08/07/18
JEFF
08/07/18
NO CHANGE
Target $46
JEFF
Buy
Scientific Games price target lowered to $46 from $61 at Jefferies
The post-earnings selloff to Scientific Games' "mixed" Q2 results and elevated capital spending left the shares implying a declining trajectory in estimates that is unlikely, Jefferies analyst David Katz tells investors in a research note titled "Setting It Low Enough To Trip." The analyst lowered his estimates to what he deems conservative levels and dropped his price target for the shares to $46 from $61. With "considerable upside" to his new target, Katz reiterates a Buy rating on Scientific Games.
CRM Salesforce
$145.87

1.47 (1.02%)

08/08/18
JEFF
08/08/18
NO CHANGE
Target $155
JEFF
Buy
Salesforce co-CEO Benioff likely not leaving anytime soon, says Jefferies
After the company promoted Keith Block to co-CEO from his current role as COO, Jefferies analyst John DiFucci says he does not believe that co-CEO Marc Benioff is going anywhere soon. However, Salesforce is well positioned if he decided to do so, DiFucci tells investors in a research note. He views the news as a "much deserved promotion" for Block and keeps a Buy rating on the shares with a $155 price target.
07/24/18
STFL
07/24/18
NO CHANGE
Target $175
STFL
Buy
Salesforce price target raised to $175 from $160 at Stifel
After spending some time visiting European investors with the head of Investor Relations for Salesforce, Stifel analyst Tom Roderick said he thinks customer interest in standardizing the corporate front office around salesforce.com is "only just accelerating now." The analyst, who thinks investors "absolutely have to own" Salesforce and said his travels with management only reinforced that view, raised his price target on the stock to $175 and keeps a Buy rating on the name, which remains on Stifel's Select List.
08/14/18
MSCO
08/14/18
NO CHANGE
Target $178
MSCO
Overweight
Salesforce price target raised to $178 from $153 at Morgan Stanley
Morgan Stanley analyst Keith Weiss raised his price target for Salesforce shares to $178 from $153 and maintained an Overweight rating, telling investors in a research note that unlocking data trapped in legacy systems via MuleSoft brings the company to the forefront of driving digital transformation for its customers, adding that consensus expectations likely underestimate its growth potential and its improved track record in M&A. Weiss estimates a faster pace of overall revenue growth over the next few years with secular tailwinds "firmly intact," and sees MuleSoft surpassing $1B in revenue scale by calendar year 2021.
NLSN Nielsen
$26.06

1.44 (5.85%)

08/14/18
LEHM
08/14/18
UPGRADE
Target $27
LEHM
Equal Weight
Nielsen upgraded to Equal Weight on possible deal scenarios at Barclays
Barclays analyst Manav Patnaik upgraded Nielsen Holdings to Equal Weight from Underweight and raised his price target for the shares to $27 from $21. The analyst, who still believes Nielsen's prospects as a stand-alone public company "remain grim," sees limited downside in the stock now that activist investor Elliott Management has acquired an 8% stake. The analyst's new price target assumes a 60% likelihood of outright sale for $32 per share, with lower scenarios for just a Buy sale. He sees downside to $15 per share if no action is taken.
08/14/18
08/14/18
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.Commercial Metals (CMC) upgraded to Neutral from Sell at Goldman Sachs with analyst Matthew Korn saying his prior initiation of the company at Sell in March was based on its "full valuation," but at its current price, the risk-reward on the company is more attractive. 2. Nielsen (NLSN) upgraded to Outperform from Neutral at Macquarie and to Equal Weight from Underweight at Barclays. 3. Alliance Data (ADS) upgraded to Overweight from Neutral at JPMorgan. 4. DCP Midstream (DCP) upgraded to Buy from Hold at Stifel with analyst Selman Akyol citing the company's Q2 results that were slightly above expectations. 5. JinkoSolar (JKS) upgraded to Neutral from Sell at Citi with the firm expecting the module outlook to improve in the second half of 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/18
08/14/18
NO CHANGE
Target $29

Buy
Jefferies sees 'significant shareholder value to be unlocked' at Nielsen
Even following yesterday's 12% rally, there is "significant shareholder value to be unlocked" at Nielsen Holdings, Jefferies analyst Surinder Thind tells investors in a research note. A strategic review of the entire business is now in play with Elliot Management taking an activist stake, Thind contends. The analyst believes Nielsen's Watch segment could be worth more than all of the company currently. He estimates the Watch segment's value at $29-$33 per share. Further, Thind's "rough math" suggests a buyout for the entire company could be worth $30 per share. For any buyer, Nielsen's $8.3B of net debt is a "limiting factor on the price that can be paid," the analyst writes. He thinks the pool of potential acquirers is mainly financial in nature and not strategic. Thind keeps a Buy rating on Nielsen with a $29 price target.
08/14/18
BARD
08/14/18
NO CHANGE
Target $30
BARD
Outperform
Nielsen price target raised to $30 from $26 at Baird
Baird analyst Jeffrey Meuler raised his price target on Nielsen to $30 from $26 following the announcement Elliott Management of an 8.4% activist stake. The analyst sees multiple avenue to unlock value including the company's Watch and Buy segments which could be of interest of private equity. He also sees the potential for expense reduction and a more broader and urgent strategic review. Meuler reiterated his Outperform rating on Nielsen shares.
SQ Square
$74.40

2.03 (2.81%)

08/14/18
NOMU
08/14/18
NO CHANGE
Target $86
NOMU
Buy
Square Cash App surpassed PayPal's Venmo for first time in July, says Nomura
Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $86 from $82 after his firm's July payments app tracker showed cumulative Square Cash App downloads surpassed PayPal's (PYPL) Venmo for the first time. Cash App downloads in July of 33.5M marked the highest monthly addition on record, Dolev tells investors in a research note. The analyst says the Square Cash App is growing three times faster than Venmo. He keeps a Buy rating on Square shares.
08/06/18
BUCK
08/06/18
UPGRADE
Target $42
BUCK
Buy
Square upgraded to Buy on revenue acceleration at Buckingham
As previously reported, Buckingham upgraded Square to Buy from Neutral and raised its price target to $85 from $65. Analyst Chris Brendler said the Q2 strong results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better-then-expected core revenue growth into 2020. Brendler said long-run adjusted EBITDA margins of 40-50% justify a higher valuation.
08/06/18
08/06/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. INTERCEPT DOUBLE UPGRADED AT GOLDMAN: Goldman Sachs analyst Salveen Richter double upgraded Intercept Pharmaceuticals (ICPT) to Buy from Sell and raised his price target for the shares to $157 from $46. The analyst said Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. Intercept should benefit from Ocaliva's global first-mover advantage in NASH, Richter said. In late morning trading, Intercept shares are up 12%. BUCKINGHAM UPGRADES SQUARE TO BUY: Buckingham upgraded Square (SQ) to Buy from Neutral and raised its price target to $85 from $65. Analyst Chris Brendler said the strong Q2 results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better then expected core revenue growth into 2020. Brendler said long-run adjusted EBITDA margins of 40%-50% justify a higher valuation. PIPER CUTS ACADIA TO NEUTRAL: Piper Jaffray analyst Danielle Brill downgraded Acadia Pharmaceuticals (ACAD) to Neutral from Overweight and cut her firm's price target on shares to $19 from $61 after taking over coverage of the name. The recent negative headlines related to potential Nuplazid safety issues will continue to weigh on sales and the shares for the foreseeable future, Brill said. Further, the analyst does not have a high level of conviction for positive data from Acadia's near-term catalysts, namely the Phase 2 major depressive disorder data in September and the Phase 2 negative schizophrenia symptoms readout in the first half of 2019. BARCLAYS CUTS INTEL TO EQUAL WEIGHT: Barclays analyst Blayne Curtis downgraded Intel (INTC) to Equal Weight from Overweight and cut his price target for the shares to $53 from $62. The analyst believes upside in the shares will be challenging until the company's margins bottom. JEFFERIES SAYS OHIO INCIDENT NOT A RISK TO CHIPOTLE TRAFFIC: After analyzing digital engagement with the brand from last week and compared to the Virginia incident last July, Jefferies analyst Andy Barish does not believe the illnesses at the Ohio restaurant put Chipotle Mexican Grill's (CMG) traffic trends at risk. The analyst believes Chipotle's procedures were followed in Ohio, the number of cases was not substantiated, and the company did a better job controlling the narrative and taking action. Barish kept a Buy rating on Chipotle shares with a $550 price target.
08/06/18
08/06/18
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. Comcast (CMCSA) upgraded to Overweight from Neutral at Atlantic Equities with analyst Hamilton Faber saying he believes "the bulk of the M&A storm" has passed. 2. Qualcomm (QCOM) upgraded to Outperform from Market Perform at Cowen with analyst Matthew Ramsay citing the company's $30B buyback and saying he believes the shares offer a compelling risk/reward with effects of lower spending, solid customer performance, and potential QTL resolutions. 3. Square (SQ) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler saying the Q2 strong results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better-then-expected core revenue growth into 2020. 4. Parker-Hannifin (PH) upgraded to Outperform from In Line at Evercore ISI with analyst David Raso saying the company's recent operational struggles are behind it with this quarters report and views 2019 guidance as conservative. 5. Intercept (ICPT) upgraded to Buy from Sell at Goldman Sachs with analyst Salveen Richter saying Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SWCH Switch
$10.53

-3.43 (-24.57%)

08/14/18
JEFF
08/14/18
NO CHANGE
Target $12
JEFF
Hold
Switch price target lowered to $12 from $15 at Jefferies
Jefferies analyst Scott Goldman lowered his price target for Switch to $12 saying the magnitude of the guidance cut is surprising, and implies virtually no incremental growth in the second half of 2018. The analyst is inclined to believe the outlook is conservative, but adds that "visibility is weak and the track record spotty." He maintains a Hold rating on shares of Switch.
08/14/18
08/14/18
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. Chubb (CB) downgraded to Sell from Hold at Deutsche Bank with analyst Joshua Shanker saying the company's recent quarterly results show that Chubb, post-merger, is unable to grow its business at the levels of its peers. 2. Switch (SWCH) was downgraded to Market Perform from Outperform at Raymond James, to Neutral from Overweight at JPMorgan, and to Neutral from Buy at BTIG. 3. Urban Outfitters (URBN) downgraded to Neutral from Outperform at Baird with analyst Mark Altschwager citing valuation. 4. Premier (PINC) downgraded to Hold from Buy at Canaccord with analyst Richard Close citing its quarter-to-date outperformance. 5. Parker-Hannifin (PH) downgraded to Hold from Buy at Argus with analyst John Eade saying that while the company's recent Q4 results topped expectations, management's outlook for FY19 was worse than expected. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/18
SBSH
08/14/18
NO CHANGE
Target $16
SBSH
Buy
Switch Buy thesis 'mostly intact' after guide-down, says Citi
Citi analyst Michael Rollins keeps a Buy rating on Switch after the company reduced its 2018 guidance on lengthening sales and install cycles. The analyst believes his thesis is still "mostly intact" given the "underlying value of the core campus" and Switch's financial flexibility to improve shareholder returns. The analyst has a $16 price target for the shares.
08/14/18
BMOC
08/14/18
NO CHANGE
Target $14
BMOC
Outperform
Switch price target lowered to $14 from $20 at BMO Capital
BMO Capital analyst Tim Long lowers his price target on Switch to $14 after its Q2 earnings miss and reduced FY18 outlook, saying that the lack of visibility is weighing on the stock. Long keeps his Outperform rating however, noting that Switch's total contract value remained "impressive". The analyst also states that its new valuation implies a 15% discount to the Data Center REIT average, which is too low after the company's expectations have been reset.

TODAY'S FREE FLY STORIES

H

Hyatt

$67.43

-1.41 (-2.05%)

07:29
12/12/18
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07:29
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Hyatt rating change  »

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HST

Host Hotels

$17.97

-0.13 (-0.72%)

07:28
12/12/18
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Host Hotels rating change  »

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NEE

NextEra Energy

$183.05

0.33 (0.18%)

07:28
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NextEra Energy analyst commentary  »

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NBIX

Neurocrine

$85.72

-0.14 (-0.16%)

07:25
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Hot Stocks
Breaking Hot Stocks news story on Neurocrine »

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TSLA

Tesla

07:25
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  • 13

    Dec

LULU

Lululemon

$116.67

1.66 (1.44%)

07:25
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Lululemon rating change  »

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  • 14

    Dec

UAA

Under Armour

$22.14

-0.25 (-1.12%)

07:25
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07:25
Conference/Events
Under Armour to host investor day »

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  • 12

    Dec

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AIMT

Aimmune

$23.25

0.18 (0.78%)

07:25
12/12/18
12/12
07:25
12/12/18
07:25
Conference/Events
Aimmune to host analyst day »

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  • 12

    Dec

UA

Under Armour

$20.87

-0.15 (-0.71%)

07:25
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12/12
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07:25
Conference/Events
Under Armour to host investor day »

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  • 12

    Dec

  • 03

    Mar

EBAY

eBay

$29.05

0.07 (0.24%)

07:24
12/12/18
12/12
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07:24
Downgrade
eBay rating change  »

Morgan Stanley admits to…

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  • 03

    Mar

AAPL

Apple

$168.66

-0.95 (-0.56%)

07:20
12/12/18
12/12
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07:20
Periodicals
Apple mulls shifting iPhone production if tariffs hit 25%, Bloomberg reports »

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SHPG

Shire

$169.68

-0.44 (-0.26%)

, TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

07:20
12/12/18
12/12
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07:20
Downgrade
Shire, Takeda Pharmaceutical rating change  »

Shire downgraded to Hold…

SHPG

Shire

$169.68

-0.44 (-0.26%)

TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 13

    Dec

  • 21

    Dec

  • 11

    Jan

07:20
12/12/18
12/12
07:20
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07:20
General news
FX Update: The dollar has been trading mixed-to-firmer »

FX Update: The dollar has…

07:17
12/12/18
12/12
07:17
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07:17
General news
Futures higher following release of Huawei CFO »

Stock futures are…

CORT

Corcept Therapeutics

$17.16

4.18 (32.20%)

07:17
12/12/18
12/12
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07:17
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Corcept Therapeutics rating change  »

Cantor upgrades Corcept…

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DCO

Ducommun

$38.00

0.2 (0.53%)

07:13
12/12/18
12/12
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07:13
Initiation
Ducommun initiated  »

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HSDT

Helius Medical

$9.94

-0.33 (-3.21%)

07:12
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Hot Stocks
Helius Medical announces PoNS application for CE Mark »

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ITCI

Intra-Cellular

$15.50

0.16 (1.04%)

07:12
12/12/18
12/12
07:12
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07:12
Recommendations
Intra-Cellular analyst commentary  »

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  • 27

    Sep

MNGPY

Man Group

$0.00

(0.00%)

07:11
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ONCY

Oncolytics

$2.03

0.01 (0.50%)

, BMY

Bristol-Myers

$52.44

-0.15 (-0.29%)

07:10
12/12/18
12/12
07:10
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07:10
Hot Stocks
Oncolytics treats first patient in pelareorep, carfilzomib with Opdivo trial »

Oncolytics (ONCY)…

ONCY

Oncolytics

$2.03

0.01 (0.50%)

BMY

Bristol-Myers

$52.44

-0.15 (-0.29%)

03/08/13
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  • 13

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UNIT

Uniti Group

$19.59

0.52 (2.73%)

07:10
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12/12
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07:10
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Uniti Group rating change  »

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LII

Lennox

$207.29

-0.545 (-0.26%)

07:09
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Hot Stocks
Lennox sees $347M in insurance proceeds for 2018, 2019 »

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  • 12

    Dec

SRNE

Sorrento Therapeutics

$2.66

-0.27 (-9.22%)

07:08
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12/12
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07:08
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Sorrento Therapeutics analyst commentary  »

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MDR

McDermott

$7.28

-0.37 (-4.84%)

, GE

General Electric

$6.77

-0.15 (-2.17%)

07:08
12/12/18
12/12
07:08
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07:08
Hot Stocks
McDermott, Baker Hughes, selected for Equus Gas Project in Australia »

McDermott (MDR), with…

MDR

McDermott

$7.28

-0.37 (-4.84%)

GE

General Electric

$6.77

-0.15 (-2.17%)

03/08/13
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MOH

Molina Healthcare

$135.79

2.32 (1.74%)

07:08
12/12/18
12/12
07:08
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07:08
Hot Stocks
Molina Healthcare awarded CHIP contract in Mississippi »

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