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TSLA

Tesla

$350.05

-5.99 (-1.68%)

, HD

Home Depot

$193.09

-1.02 (-0.53%)

16:09
08/14/18
08/14
16:09
08/14/18
16:09

Fly Intel: Wall Street's top stories for Tuesday

Stocks opened in positive territory and remained there throughout the session. Aside from a dip off its opening price, the averages have continued to drift higher. The move was broad-based as each of the major equity averages tacked on gains of more than 0.6%. The strength was attributed to easing concerns surrounding the Turkish economic crisis. Oil prices closed lower after moving higher early in the session. The weekly API inventory report is due out after the close today. ECONOMIC NEWS: In the U.S., the July NFIB small business optimism index moved up 0.7 ticks to 107.9, another record high. U.S. chain store sales fell 1.2% in the week ended August 11, according to The Retail Economist report, largely reversing the 1.4% bounce in the August 4 week. July import prices in the U.S. were flat and export prices fell 0.5%, weaker than analysts expected. Meanwhile, Dow Jones reported that Canadian officials are close to imposing broad steel tariffs. COMPANY NEWS: Tesla (TSLA) confirmed this morning that the car maker's board of directors has formed a special committee comprised of three independent directors to act on behalf of the company in connection with Elon Musk's previously announced consideration of a transaction to take the company private. The committee has not yet received a formal proposal from Musk regarding any transaction nor has it reached any conclusion as to the advisability or feasibility of such a move, Tesla noted... Home Depot (HD) was in focus after the home improvement retailer reported better-than expected results for the second quarter and raised its fiscal 2018 earnings per share guidance... Shares of Tapestry (TPR) jumped 12% after the company, previously known as Coach, reported better than expected fourth quarter results, driven by strong performance of its Kate Spade business... Meanwhile, Intel (INTC) shares trended lower after the company disclosed three security vulnerabilities that were reported by The Register. "Malicious applications may be able to infer the values of data in the operating system memory, or data from other applications," Intel said in the report... Additionally, Kroger (KR) shares rose 2.4% after it announced a pilot with Alibaba's (BABA) Tmall Global platform in China. Kroger's online store test will begin with select Simple Truth items, its natural and organic brand. MAJOR MOVERS: Among the noteworthy gainers was SJW Group (SJW), which rose 6.9% after California Water Service Group (CWT) submitted a revised proposal to acquire all outstanding shares of SJW for $70 per share in cash. Also higher was Advance Auto Parts (AAP), which gained 7.8% after reporting quarterly results. Among the notable losers was Vipshop (VIPS), which slipped 16.2% after Citi analyst Alicia Yap downgraded the stock to Sell from Buy and cut her price target to $8 from $17. Also lower were Switch (SWCH) and Alta Mesa Resources (AMR), which fell a respective 22.4% and 21.6% after reporting quarterly results. INDEXES: The Dow rose 112.22, or 0.45%, to 25,299.92, the Nasdaq gained 51.19, or 0.65%, to 7,870.89, and the S&P 500 advanced 18.03, or 0.64%, to 2,839.96.

TSLA

Tesla

$350.05

-5.99 (-1.68%)

HD

Home Depot

$193.09

-1.02 (-0.53%)

TPR

Tapestry

$53.18

5.76 (12.15%)

INTC

Intel

$48.12

-0.33 (-0.68%)

KR

Kroger

$30.43

0.68 (2.29%)

SJW

SJW Corp.

$66.52

4.03 (6.45%)

CWT

California Water Service

$40.65

0.6 (1.50%)

AAP

Advance Auto Parts

$155.91

11.12 (7.68%)

VIPS

Vipshop

$7.56

-1.42 (-15.81%)

SWCH

Switch

$10.87

-3.09 (-22.13%)

AMR

Alta Mesa Resources

$4.74

-1.34 (-22.04%)

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TSLA Tesla
$350.05

-5.99 (-1.68%)

08/10/18
MSCO
08/10/18
NO CHANGE
Target $291
MSCO
Equal Weight
Morgan Stanley says Tesla LBO doesn't seem feasible, equity buyout might be
Morgan Stanley analyst Adam Jonas said a leveraged buyout, or LBO, of Tesla does not appear to be feasible, even with less than $10B of incremental debt. However, he believes Tesla could consider an auction for its shares in the private equity market, financed by existing shareholders, new strategic investors, the possible divestiture of assets such as Tesla's autonomous and shared mobility assets and "possibly some help from SpaceX." However, Jonas notes that he has no knowledge of an equity buyout, or EBO, being considered by the company. He maintains an Equal Weight rating and $291 price target on Tesla shares.
08/08/18
BARD
08/08/18
NO CHANGE
Target $411
BARD
Outperform
Tesla $420 buyout price mentioned by Musk too low, says Baird
Baird analyst Ben Kallo believes the Tesla buyout price of $420 mentioned by Elon Musk is too low. He expects the shares to trade above that mark as investors will demand a higher premium, which will coincide with short covering. Kallo reiterated his Outperform rating and $411 price target on Tesla shares.
08/08/18
RBCM
08/08/18
NO CHANGE
Target $110
RBCM
Outperform
RBC Capital revisits idea of Celgene going private after Tesla proposal
Following yesterday's news that Tesla (TSLA) CEO Elon Musk would like to see his company go private, RBC analyst Brian Abrahams revisited his prior analysis of whether Celgene (CELG) should go private in order to better capture the medium-term value of future Revlimid cash flows not being appreciated by public markets and avoid volatility as it transitions to a post-Revlimid business model. Though acknowledging that the two companies are in completely different industries, he thinks the example of Musk shows that performing such a transaction on a large company "may not be completely unrealistic," Abrahams said. Such an LBO, or perhaps more likely an acquisition by a larger pharmaceutical company, could possibly help capture more value from Celgene's commercial and pipeline products, concludes Abrahams, who has an Outperform rating and $110 price target on Celgene shares.
08/08/18
08/08/18
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. REACTIONS TO TESLA'S TALK OF GOING PRIVATE: Jefferies analyst Philippe Houchois raised his price target for Tesla (TSLA) to $360 from $250 after CEO Elon Musk suggested taking the company private. Going private "feels like the right thing to do," Houchois said. "Distraction or not, the move feels right even if Musk is downplaying how supportive public markets have been," the analyst adds. However, with Tesla unable to take on more debt, Houchois wondered who may fund the potential deal and end up as a new large shareholder. While Morgan Stanley analyst Adam Jonas sympathizes with Elon Musk's argument that Tesla could be better off as a private company, he questioned the feasibility of Musk actually being able to achieve that goal. Taking the company private would assume either that the company is on the verge of generating self-sustaining cash flows or that it can tap into a range of strategic sources of capital not previously at its disposal, said Jonas, who sees strategic value at Tesla but thinks the "LBO math required to support [a price of] $420 is extremely aggressive." MORGAN STANLEY SAYS SOUTHWEST A GOOD FIT FOR BERKSHIRE: Morgan Stanley analyst Kai Pan noted that Berkshire Hathaway (BRK.A) has shifted tone in recent years and become a top three shareholder of the "Big Four" U.S. airlines, including Southwest (LUV). Media reports from Forbes, CNN and others have discussed a possible acquisition by Berkshire of the airline, added Pan. He analyzed a theoretical acquisition and came to the conclusion that Southwest could be a strategic fit for Berkshire and the advantages could also be compelling for the airline. Pan estimates Berkshire could pay a 20-40% premium, or $70-80 per share for Southwest, in such a hypothetical takeover situation. Pan has an Overweight rating and $67 price target on Southwest shares. BARCLAYS POSITIVE ON SNAP GUIDANCE CHANGE: Barclays analyst Ross Sandler views Snap's (SNAP) Q2 results as a "mixed bag," with daily active users 2M below his estimate and revenue $20M above his estimate. More importantly, the change in approach towards guidance is "very welcomed and should help to reduce some of the volatility going forward," Sandler said. He believes this is a "big positive for long-term holders looking to get involved." The analyst kept an Overweight rating on Snap with a $16 price target. WAINWRIGHT SAYS INSMED LIKELY TO BE ACQUIRED: H.C. Wainwright analyst Andrew Fein raised his price target for Insmed (INSM) to $43 from $35 following the 12-2 FDA panel vote in favor of ALIS in refractory nontuberculous mycobacterial patients. Insmed is now likely to be acquired as ALIS "fits well within the pipeline of a number of larger companies," Fein said.
HD Home Depot
$193.09

-1.02 (-0.53%)

07/27/18
BARD
07/27/18
NO CHANGE
BARD
GDP report included encouraging data for home improvement retailers, says Baird
Baird analyst Peter Benedict said that the Q2 GDP report included a few encouraging data points on housing that reinforced his positive near- and long-term view on Home Depot (HD) and Lowe's (LOW). Specifically, he points out that growth in private residential investment accelerated to 7.4%year-over-year. Benedict noted that changes in PRI and home center comps have a "strong historical correlation." He also noted that household formation accelerated to an annualized pace of 1.7M in Q2 from about a 1.2M rate in Q1. Benedict has Overweight ratings on both Home Depot and Lowe's.
08/03/18
PIPR
08/03/18
DOWNGRADE
Target $39
PIPR
Neutral
Floor & Decor downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Peter Keith downgraded Floor & Decor (FND) to Neutral and lowered his price target for the shares to $39 from $58. The analyst, who admits his June upgrade of the stock was wrong, highlights Luxury Vinyl Tile's disruptive nature on the industry and Home Depot's (HD) "strong share gains" in flooring following Floor & Decor's Q2 miss and guide down. The quarter suggests the impact of these dynamics is occurring faster than anticipated, Keith tells investors in a research note. JPMorgan this morning also downgraded Floor & Decor.
08/14/18
GSCO
08/14/18
NO CHANGE
GSCO
Neutral
Home Depot 2H deceleration as expected, says Goldman Sachs
Goldman Sachs analyst Matthew Fassler said Neutral rated Home Depot reported a solid Q2 beat and guided to a 2H 2018 deceleration against tougher storm-driven comps. Fassler expects the stock to have an in-line reaction to the print and said the read through for Lowe's (LOW) suggests an in-line report with his forecast.
08/10/18
OPCO
08/10/18
NO CHANGE
Target $220
OPCO
Outperform
Home Depot price target raised to $220 from $205 at Oppenheimer
Oppenheimer analyst Brian Nagel raised his price target on Home Depot to $220 from $205 ahead of the company's Q2 earnings report, citing his continued confidence in the potential for Home Depot to capitalize on favorable demand dynamics in the home improvement space. In a research note to investors, Nagel said he remains bullish and looks towards the Q2 results as a potential near-term positive catalyst for shares. Nagel has an Outperform rating on Home Depot.
TPR Tapestry
$53.18

5.76 (12.15%)

06/25/18
GSCO
06/25/18
INITIATION
GSCO
Sell
PVH Corp. initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis initiated PVH Corp (PVH) with a Sell, telling investors in a research note that while the company has benefited from a strong acceleration in growth in Tommy Hilfiger and Calvin Klein, she believes momentum is peaking as a number of tailwinds fade. This morning, Walvis also initiated shares of Tapestry (TPR) with a Conviction Buy and Tiffany (TIF) and VFC (VFC) with a Buy.
07/09/18
WELS
07/09/18
NO CHANGE
Target $56
WELS
Outperform
Tapestry fundamental story intact, guidance likely near-term issue, says Wells Fargo
Wells Fargo analyst Ike Boruchow remains bullish on the Tapestry story and reiterates the name as one of his top idea as he has gained greater confidence in both the Kate Spade turnaround efforts, as well as the trajectory of Coach brand. That said, the analyst does see some headwinds to next full year that the Street does not appear to be modeling, leading him to cut his FY19 EPS as he believes guidance is likely a near-term issue. Boruchow reiterates an Outperform rating and $56 price target on the shares.
07/31/18
UBSW
07/31/18
NO CHANGE
Target $59
UBSW
Buy
Tapestry price target lowered to $59 from $62 at UBS
UBS analyst Jay Sole said one of the main tenets of his buy thesis on Tapestry was that a product shift mix will lead to more full price selling. He recent research has led him to begin to doubt that will occur so he lowered his estimates and price target to reflect it. Sole said he still sees a favorable risk/reward for Tapestry and reiterated his Buy rating while lowering his target to $59 from $62.
08/14/18
LOOP
08/14/18
NO CHANGE
Target $59
LOOP
Buy
Loop Capital would continue buying shares of Tapestry
Loop Capital analyst Laura Champine reiterates a Buy rating on Tapestry with a $59 price target following this morning's Q4 results. The analyst is "pleased" with in-line June quarter sales at Coach and upside at Kate Spade. The analyst expects the long-term cost synergies from the Kate Spade deal "to be substantial" and would continue buying shares of Tapestry. The stock in morning trading is up 10.5%, or $4.98, to $52.44.
INTC Intel
$48.12

-0.33 (-0.68%)

08/14/18
JPMS
08/14/18
DOWNGRADE
Target $21
JPMS
Underweight
Macom downgraded to Underweight with $21 price target at JPMorgan
JPMorgan analyst Harlan Sur downgraded Macom Technology Solutions (MTSI) to Underweight with an unchanged price target of $21. With the stock above his price target, the analyst believes the market is already discounting "strong forward earnings power." The analyst also see the potential for margin pressures on current generation discrete Macom-based white box transceiver reference designs for 100G CWDM4 modules amid competition from Intel (INTC), Applied Optoelectronics (AAOI), and InnoLight.
08/10/18
08/10/18
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. GOLDMAN CUTS INTEL, UPGRADES AMD: Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral and lowered his price target for the shares to $44 from $49. Hari coupled the downgrade with an upgrade of AMD (AMD) to Neutral from Sell. Intel's struggles with 10nm process technology made the analyst incrementally more negative on the company's competitive positioning and margin outlook. He expects a worsening product mix in the near-term, ramp in 10nm costs and growing depreciation to drive margin pressure and Intel's earnings below consensus expectations. The delay in Intel's new products will allow AMD to gain share in not only client computer processing units, and also in the "lucrative" server CPU market, Hari contended. He believes this makes for a balanced risk/reward profile on AMD shares. In late morning trading, Intel is down 2.5% and AMD is up fractionally. BOOKING HOLDINGS DOWNGRADED AT MULTIPLE FIRMS: UBS analyst Eric Sheridan downgraded Booking Holdings (BKNG) to Neutral from Buy and lowered his price target for the shares to $2,060 from $2,320 following the company's Q2 results. JPMorgan analyst Doug Anmuth downgraded Booking Holdings to Neutral from Overweight and lowered his price target for the shares to $2,070 from $2,385. Additionally, Citi analyst Mark May downgraded Booking Holdings to Neutral from Buy and lowered his price target for the shares to $2,150 from $2,350. Booking Holding is down over 2% in late morning trading. JPMORGAN CUTS CAMPBELL SOUP TO UNDERWEIGHT: JPMorgan analyst Ken Goldman downgraded Campbell Soup (CPB) to Underweight from Neutral with a $36 price target, saying he believes a sale of the company at a significant premium is unlikely. Campbell Soup is down over 2% in late morning trading. CANTOR SEES MANY REASONS FOR UNITEDHEALTH ACQUIRING ATHENAHEALTH: Numerous media sources cited a Dealreporter story indicating that UnitedHealth (UNH) is now in the second round of bidding for Athenahealth (ATHN), Cantor Fitzgerald analyst Steven Halper said in a research note. There are "many reasons" why UnitedHealth's Optum would benefit from the acquisition of Athenahealth, the analyst contended. With or without the deal, the analyst expects UnitedHealth will deploy capital and grow its various Optum businesses over time. He reiterated an Overweight rating on shares with a $300 price target.
08/10/18
08/10/18
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. Intel (INTC) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying Intel's struggles with 10nm process technology makes the analyst incrementally more negative on the company's competitive positioning and margin outlook. 2. Booking Holdings (BKNG) downgraded to Neutral from Buy at Citi and UBS as well as Neutral from Overweight at JPMorgan. 3. Sysco (SYY) downgraded to Sell from Hold at Pivotal Research with analyst Ajay Jain saying he believes the move up in the stock over the past three months is inconsistent with growing industry headwinds as well as Sysco's company-specific issues. 4. Campbell Soup (CPB) downgraded to Underweight from Neutral at JPMorgan with analyst Ken Goldman saying he agrees with activist Third Point that Campbell's best option is to sell the company; however, he sees a sale as an unlikely outcome. 5. Redfin (RDFN) downgraded to Neutral from Buy at DA Davidson with analyst Tom White citing its Q2 results and below-consensus Q3 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/10/18
GSCO
08/10/18
DOWNGRADE
GSCO
Sell
Intel downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral and lowered his price target for the shares to $44 from $49. The chipmaker closed yesterday up 18c to $50.14. Hari coupled the downgrade with an upgrade of AMD (AMD) to Neutral from Sell. Intel's struggles with 10nm process technology makes the analyst incrementally more negative on the company's competitive positioning and margin outlook. He expects a worsening product mix in the near-term, ramp in 10nm costs and growing depreciation to drive margin pressure and Intel's earnings below consensus expectations. Hari sees downside risk in the shares.
KR Kroger
$30.43

0.68 (2.29%)

07/06/18
SBSH
07/06/18
INITIATION
SBSH
Buy
Kroger assumed with a Buy at Citi
Citi analyst Gregory Badishkanian assumed coverage of Kroger with a Buy rating. The analyst expects continued comp momentum driven by the completion of additional store optimization projects and the return to inflation.
07/02/18
DBAB
07/02/18
INITIATION
Target $30
DBAB
Hold
Kroger resumed with a Hold at Deutsche Bank
Deutsche Bank analyst Paul Trussell resumed coverage of Kroger with a Hold rating and $30 price target. Management is taking important strategic steps to extend market share gains and position the company for long-term success, but the valuation at current levels "appropriately balances the bull and bear cases," Trussell tells investors in a research note. He wants to sees more improvement in fundamentals or a better entry point before getting more constructive on the shares.
06/29/18
FBCO
06/29/18
NO CHANGE
Target $31
FBCO
Outperform
Kroger's pharmacy customers 'should be fairly sticky,' says Credit Suisse
After Amazon (AMZN) announced plans to buy PillPack, Credit Suisse analyst Judah Frommer said the transaction likely contributed to Kroger's (KR) underperformance on Thursday. While Frommer says Amazon's entry into the retail pharmacy space may shift incremental share toward a nascent channel, the impact to Kroger's profitability in the event it "donates" share "should be somewhat limited." In a research note to investors, Frommer contends that pharmacy customers, some of the supermarket's most loyal, "should be fairly sticky." Frommer has an Outperform rating and $31 price target on Kroger shares.
07/13/18
LOOP
07/13/18
NO CHANGE
Target $61
LOOP
Buy
United Natural Foods positioned for rise of online grocery, says Loop Capital
Loop Capital analyst Andrew Wolf kept his Buy rating and $61 price target on United Natural Foods, saying the company is best positioned to capitalize on the growing shopping trend of buying groceries online. The analyst notes that the company already supplies Whole Foods (AMZN) and Kroger (KR) with natural and specialty foods as well as health and beauty care goods. Wolf adds that United Natural Foods also offers "backstage capabilities and merchandising curation" that serve the broader market as well as independent natural retailers. The analyst further points to the company's 23% sales increase in e-commerce reported in its most recent quarter.
SJW SJW Corp.
$66.52

4.03 (6.45%)

04/26/18
JANY
04/26/18
DOWNGRADE
JANY
Neutral
SJW Corp. downgraded to Neutral from Buy at Janney Capital
Janney Capital cited SJW Group (SJW) valuation after California Water Service Group (CWT) confirmed that it proposed to acquire SJW for $68.25 per share. Subsequently, SJW rejected Cal Water's offer, having determined that it was not a superior proposal as defined in SJW's merger agreement with Connecticut Water Service (CTWS).
CWT California Water Service
$40.65

0.6 (1.50%)

03/08/18
UBSW
03/08/18
INITIATION
Target $34
UBSW
Sell
California Water Service initiated with a Sell at UBS
UBS analyst Daniel Ford started California Water Service with a Sell rating and $34 price target. The analyst believes the regulatory climate in California has declined over the past twelve months.
04/02/18
WELS
04/02/18
UPGRADE
Target $35
WELS
Market Perform
California Water Service upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo analyst Jonathan Reeder upgraded California Water Service to Market Perform from Underperform and raised his price target to $35 from $34. The analyst cites a more favorable valuation on the stock followings its 21% year-to-date decline as well as the cost of capital decision by the state of California being in the past. Reeder adds that the company's annualized EPS growth rate, which he sees as achievable, is "at least commensurate" with its peers.
03/26/18
HDLY
03/26/18
UPGRADE
HDLY
Neutral
California Water Service upgraded to Neutral from Underperform at Hilliard Lyons
Hilliard Lyons analyst Spencer Joyce upgraded California Water Service to Neutral from Underperform as he believes Cal Water's revised Cost of Capital ruling removes a lingering negative catalyst and given what he sees as a "rising affinity" for the Utilities sector.
AAP Advance Auto Parts
$155.91

11.12 (7.68%)

07/12/18
RBCM
07/12/18
NO CHANGE
Target $154
RBCM
Outperform
Advance Auto Parts price target raised to $154 from $133 at RBC Capital
RBC Capital analyst Scot Ciccarelli raised his price target on Advance Auto Parts to $154 and kept his Outperform rating. The analyst says his deep dive analysis indicates that the company has "conservatively 300-450 bps of EBIT margin expansion potential", but needs to improve its sales productivity to fully unlock its earnings power, given that its sales per store metrics have been "stagnant since 2013".
06/22/18
UBSW
06/22/18
NO CHANGE
Target $160
UBSW
Buy
Advance Auto Parts price target raised to $160 from $130 at UBS
UBS analyst Michael Lasser raised his price target on Advance Auto Parts to $160 from $130. The analyst believes optimizing its distribution network is a significant portion of the $750M in gross savings it expects to achieve over the next three years. He believes it will pave the way to unlock more substantial savings in 2019 and beyond. Lasser reiterated his Buy rating on Advance Auto Parts shares.
06/29/18
BOFA
06/29/18
NO CHANGE
Target $330
BOFA
Buy
O'Reilly can take AutoZone share and withstand Amazon threat, says BofA/Merrill
BofA/Merrill analyst Elizabeth Suzuki is most positive on O'Reilly Automotive (ORLY) in her broader research note on the auto parts retail industry, saying the anticipated repair arc in the U.S. vehicle population favors companies with more exposure to "do it for me" like O'Reilly, Advance Auto Parts (AAP), and Genuine Parts (GPC) rather than "do it yourself" like AutoZone (AZO). The analyst sees Advance Auto Parts pricing in a more optimistic outlook while losing market share and underperforming on margins, rating the company at Underperform with a price target of $103. Suzuki states that Genuine Parts is also constrained by pricing headwinds, rating the company at Neutral with a $105 price target. The analyst likes O'Reilly's expected pace of new store growth, above-average operating margins, and its deepest relative moat through its developed distribution network against a potential threat of entry into the retail auto parts space by Amazon (AMZN), rating the company at Buy with a price target of $330.
07/06/18
ARGS
07/06/18
NO CHANGE
Target $155
ARGS
Buy
Advance Auto Parts price target raised to $155 from $135 at Argus
Argus analyst Christopher Graja raised his price target on Advance Auto Parts to $155 and also raised his FY19 EPS target to $7.90 from $7.50, saying he is now modeling an 80bps improvement in operating margins thanks to the company's efforts to reduce costs, improve inventory management, and boost its customer service. Graja also points to higher free cash flows generated in Q1 as the company's chairman Jeffrey Smith and CEO Tom Greco turn Advance Auto Parts into a more efficiently run firm. The analyst notes that the signs of operating improvement have also led him to increase his target enterprise value to EBIT valuation multiple to 15-times from 14-times.
VIPS Vipshop
$7.56

-1.42 (-15.81%)

08/14/18
SBSH
08/14/18
DOWNGRADE
SBSH
Sell
Vipshop downgraded to Sell from Buy at Citi
Citi analyst Alicia Yap downgraded Vipshop to Sell from Buy and cut its price target to $8 from $17 citing declining margins and decelerating growth.
07/11/18
GSCO
07/11/18
DOWNGRADE
Target $13.1
GSCO
Neutral
Vipshop downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Ronald Keung downgraded Vipshop to Neutral from Buy citing what he views as "fierce competition" and near-term risk to consensus earnings estimates as management steps up its marketing spending on attracting new users. Given his view that the cost of attracting new users will drag on margins for the coming quarters, Keung lowered his price target on Vipshop shares to $13.10 from $19.20.
08/14/18
DAIW
08/14/18
DOWNGRADE
DAIW
Underperform
Vipshop downgraded to Underperform from Neutral at Daiwa
08/14/18
LYON
08/14/18
DOWNGRADE
LYON
Underperform
Vipshop downgraded to Underperform from Outperform at CLSA
CLSA analyst Man Ho Lam downgraded Vipshop to Underperform from Outperform with an $8.50 price target citing the disappointing Q2 report and weak Q3 guidance.
SWCH Switch
$10.87

-3.09 (-22.13%)

08/14/18
08/14/18
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. 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.
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
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.
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.
AMR Alta Mesa Resources
$4.74

-1.34 (-22.04%)

07/30/18
07/30/18
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. ADMA Biologics (ADMA) initiated with a Buy at Chardan. 2. Alta Mesa Resources (AMR) initiated with a Buy at Guggenheim. 3. Azure Power (AZRE) initiated with an Outperform at JMP Securities. 4. Exela Technologies (XELA) initiated with a Buy at Nomura Instinet. 5. Wix.com (WIX) initiated with a Neutral at Rosenblatt. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/30/18
GUGG
07/30/18
INITIATION
Target $10
GUGG
Buy
Alta Mesa Resources initiated with a Buy at Guggenheim
Guggenheim analyst Subash Chandra initiated Alta Mesa Resources with a Buy and $10 price target.
07/10/18
GSCO
07/10/18
INITIATION
Target $8.25
GSCO
Buy
Alta Mesa Resources initiated with a Buy at Goldman Sachs
Goldman Sachs started Alta Mesa Resources with a Buy rating and $8.25 price target. The firm believes the company's assets and growth are underappreciated at current valuation levels.
04/05/18
STFL
04/05/18
INITIATION
Target $13
STFL
Buy
Alta Mesa Resources initiated with a Buy at Stifel
Stifel analyst Derrick Whitfield started Alta Mesa Resources with a Buy rating and $13 price target, as he believes the stock has been unfairly punished for non-related industry developments in the STACK. He expects investor perception on the STACK to improve and thinks the IPO of Kingfisher Midstream has the potential to re-rate Alta Mesa, Whitfield tells investors.

TODAY'S FREE FLY STORIES

KKR

KKR

$28.12

-0.13 (-0.46%)

21:13
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A

Agilent

$70.38

0.43 (0.61%)

21:11
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Agilent acquires ACEA Bioscience for $250M in cash »

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EQM

EQT Midstream Partners

$52.64

-2.16 (-3.94%)

20:58
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FPAY

FlexShopper

$1.16

-0.69 (-37.30%)

20:42
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FlexShopper 10M unit Secondary priced at $1.00 »

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IGC

IGC, Inc

$2.32

-0.22 (-8.66%)

20:40
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IGC to enter Hemp/CBD-infused energy drink space »

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DAL

Delta Air Lines

$57.10

-0.33 (-0.57%)

20:32
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Breaking Periodicals news story on Delta Air Lines »

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  • 09

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SPY

SPDR S&P 500 ETF Trust

$290.73

-0.36 (-0.12%)

, SPX

S&P 500

$0.00

(0.00%)

20:32
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Periodicals
Trump considering keeping Deputy AG Rosenstein, WSJ says »

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SPDR S&P 500 ETF Trust

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S&P 500

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ARCE

Arco Platform

$0.00

(0.00%)

20:31
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Syndicate
Arco Platform 11.111M share IPO priced at $17.50 »

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KMX

CarMax

$75.87

-0.01 (-0.01%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

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AINC

Ashford

$75.95

-11.75 (-13.40%)

20:23
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20:23
Syndicate
Ashford 270K share Secondary priced at $74.50 »

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ANAB

AnaptysBio

$94.68

-7.25 (-7.11%)

20:21
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Syndicate
AnaptysBio 2.2M share Secondary priced at $94.46 »

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  • 26

    Sep

SF

Stifel Financial

$53.96

-0.08 (-0.15%)

20:01
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Hot Stocks
Stifel Financial and Everbright Sun Hung Kai establish strategic partnership »

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  • 25

    Sep

I

Intelsat

$27.08

4.365 (19.22%)

19:59
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Hot Stocks
Intelsat and Azercosmos announce successful satellite launch »

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SKY

Skyline

$30.88

0.66 (2.18%)

19:49
09/25/18
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Hot Stocks
Breaking Hot Stocks news story on Skyline »

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  • 26

    Sep

KBH

KB Home

$25.29

-0.24 (-0.94%)

, AIR

AAR Corp.

$46.03

1.04 (2.31%)

19:28
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Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: KB…

KBH

KB Home

$25.29

-0.24 (-0.94%)

AIR

AAR Corp.

$46.03

1.04 (2.31%)

VSTM

Verastem

$7.15

-1.74 (-19.57%)

CGIX

Cancer Genetics

$1.22

-0.01 (-0.81%)

VNDA

Vanda Pharmaceuticals

$20.70

0.3 (1.47%)

NLSN

Nielsen

$27.21

0.055 (0.20%)

CYH

Community Health

$3.41

-0.08 (-2.29%)

AUPH

Aurinia Pharmaceuticals

$5.89

0.02 (0.34%)

GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

ABBV

AbbVie

$93.78

0.34 (0.36%)

NKE

Nike

$84.79

0.52 (0.62%)

CTAS

Cintas

$212.99

1.81 (0.86%)

LULU

Lululemon

$158.42

1.04 (0.66%)

CONE

CyrusOne

$64.65

-0.6 (-0.92%)

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CBS

CBS

$56.54

-0.07 (-0.12%)

19:19
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CBS names Richard Parsons interim chairman »

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  • 27

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ZUMZ

Zumiez

$27.00

-0.55 (-2.00%)

19:09
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Initiation
Zumiez initiated at DA Davidson »

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ROST

Ross Stores

$97.54

0.26 (0.27%)

, TJX

TJX

$110.33

0.605 (0.55%)

19:03
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09/25
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19:03
Initiation
Ross Stores, TJX initiated at DA Davidson »

Ross Stores initiated…

ROST

Ross Stores

$97.54

0.26 (0.27%)

TJX

TJX

$110.33

0.605 (0.55%)

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  • 25

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MNOV

MediciNova

$11.68

-0.17 (-1.43%)

19:01
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19:01
Hot Stocks
MediciNova announces 'positive' FDA feedback on Phase 3 plan for MN-166 »

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PVH

PVH Corp.

$140.00

-0.56 (-0.40%)

18:58
09/25/18
09/25
18:58
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18:58
Initiation
PVH Corp. initiated at DA Davidson »

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  • 02

    Oct

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    Oct

GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

18:50
09/25/18
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18:50
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18:50
Initiation
Canada Goose initiated at DA Davidson »

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PM

Philip Morris

$79.91

-0.55 (-0.68%)

18:47
09/25/18
09/25
18:47
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18:47
Periodicals
Philip Morris hits streets to sell older smokers on new devices, Bloomberg says »

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  • 27

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URBN

Urban Outfitters

$40.06

-0.32 (-0.79%)

18:45
09/25/18
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18:45
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18:45
Initiation
Urban Outfitters initiated at DA Davidson »

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  • 26

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SVMK

SurveyMonkey

$0.00

(0.00%)

18:35
09/25/18
09/25
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18:35
Syndicate
SurveyMonkey 15M share IPO priced at $12.00 »

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  • 26

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LULU

Lululemon

$158.42

1.04 (0.66%)

18:34
09/25/18
09/25
18:34
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18:34
Initiation
Lululemon initiated at DA Davidson »

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