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MITL

Mitel

$10.98

-0.015 (-0.14%)

, AKRX

Akorn

$19.00

0.29 (1.55%)

17:28
08/14/18
08/14
17:28
08/14/18
17:28

Paulson & Co. adds Comcast, exits McDermott

John Paulson's Paulson & Co. disclosed in an SEC filing its holdings as of June 30, 2018. The fund's seven new buys in the quarter included, by size of position, Mitel Networks (MITL), Akorn (AKRX), Comcast (CMCSA), 21st Century Fox (FOXA), and LaSalle Hotel Properties (LHO). Paulson exited six positions during the quarter, including McDermott (MDR). The fund increased its stake in seven holdings, including by size of previous position Discovery (DISCA), NXP Semiconductors (NXPI), 21st Century Fox (FOX), Aetna (AET), and XL Group (XL). Paulson decreased its stake in eight holdings, including by size of previous position Randgold (GOLD), IAMGOLD (IAG), Rockwell Collins (COL), Agnico Eagle Mines (AEM), and Goldcorp (GG). The fund's top holdings as of June 30, in order of size, were SPDR Gold Shares, Bausch Health Companies (BHC), Shire (SHPG), Mylan (MYL), and Allergan (AGN).

MITL

Mitel

$10.98

-0.015 (-0.14%)

AKRX

Akorn

$19.00

0.29 (1.55%)

CMCSA

Comcast

$35.38

0.33 (0.94%)

FOXA

21st Century Fox

$45.48

0.17 (0.38%)

LHO

LaSalle Hotel

$34.36

0.315 (0.93%)

MDR

McDermott

$19.09

-0.26 (-1.34%)

DISCA

Discovery

$26.42

0.53 (2.05%)

NXPI

NXP Semiconductors

$91.21

-1.92 (-2.06%)

FOX

21st Century Fox

$44.97

0.25 (0.56%)

AET

Aetna

$197.01

2.21 (1.13%)

XL

XL Group

$56.37

0.01 (0.02%)

GOLD

Randgold

$67.37

-1.75 (-2.53%)

IAG

IAMGold

$4.58

-0.16 (-3.38%)

COL

Acquired by UTX

$135.58

-0.13 (-0.10%)

AEM

Agnico Eagle

$38.29

-0.33 (-0.85%)

GG

Goldcorp

$11.34

-0.18 (-1.56%)

BHC

Bausch Health

$21.53

0.125 (0.58%)

SHPG

Shire

$169.14

-0.64 (-0.38%)

MYL

Mylan

$38.53

0.98 (2.61%)

AGN

Allergan

$184.44

0.18 (0.10%)

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MITL Mitel
$10.98

-0.015 (-0.14%)

05/15/18
CHLM
05/15/18
DOWNGRADE
Target $11.15
CHLM
Hold
Mitel downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst George Sutton downgraded Mitel to Hold from Buy saying that given the structure of the deal in place for Searchlight, which includes debt financing of $1.38B and equity sponsor commitments of $700M, there is the potential, but in his view, limited likelihood, that this single remaining party concludes in a higher bid. The analyst also lowered his price target on the shares to $11.15 from $14.
04/11/18
NATB
04/11/18
DOWNGRADE
NATB
Sector Perform
Mitel downgraded to Sector Perform from Outperform at National Bank
National Bank downgraded Mitel to Sector Perform citing valuation.
04/11/18
04/11/18
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. Avis Budget (CAR) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing valuation. 2. Affiliated Managers (AMG) downgraded to Market Perform at Keefe Bruyette. 3. Valero (VLO) and PBF Energy (PBF) were downgraded to Sector Perform from Outperform at Scotia Howard Weil. 4. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Melissa Franchi saying she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud. 5. Mitel (MITL) downgraded to Sector Perform from Outperform at National Bank with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/23/18
CHLM
02/23/18
NO CHANGE
Target $14
CHLM
Buy
Mitel pullback on 'complicated' guidance a buying opportunity, says Craig-Hallum
Craig-Hallum analyst George Sutton said Mitel reported "stellar" Q4 results, but its Q1 guidance was "complicated" by the seasonality of its businesses being more pronounced than he had previously recognized. He sees the pullback as an attractive buying opportunity, contending that much of the confusion around seasonal changes should be resolved at the analyst day next week. Sutton keeps a Buy rating and $14 price target on Mitel shares.
AKRX Akorn
$19.00

0.29 (1.55%)

04/27/18
RBCM
04/27/18
NO CHANGE
Target $25
RBCM
Sector Perform
RBC still sees path to closing of Akorn takeover by Fresenius
After reviewing the Akorn's (AKRX) legal complaint against Fresenius SE (FSNUY), RBC Capital analyst Randall Stanicky still sees a path for the deal to close. "We are not yet convinced that issues raised so far are at the level of deal break," Stanicky tells investors in a research note. There "clearly appears" to be data integrity issues at Akorn, but do they constitute a level of materiality that would allow the deal to be broken, Stanicky wonders. The analyst has a Sector Perform rating on Akorn shares with a $25 price target. The stock in midday trading is up 8% to $14.69. He expects Fresenius to respond to Akorn in court and for the process to take between one and three months.
04/30/18
DBAB
04/30/18
NO CHANGE
DBAB
Hold
Akorn complaint represents only one side, says Deutsche Bank
Deutsche Bank analyst Gregg Gilbert says that while Akorn's (AKRX) complaint against Fresenius (FSNUY) for breach of contract "includes some interesting tidbits," it is important to note that it represents the view of only one side in the dispute. Regarding the allegations of data integrity issues, the complaint notes that the investigations uncovered discrete occurrences of data integrity challenges but characterizes these as commonplace in the industry and which Akorn has already begun to remediate, Gilbert tells investors in a research note. The complaint also suggests that Fresenius did not become concerned about the anonymous allegations until after Akorn's business began to face significant pressure, the analyst adds. He keeps a Hold rating on Akorn.
07/03/18
DBAB
07/03/18
NO CHANGE
DBAB
Akorn upside/downside 'looks interesting' into trial, says Deutsche Bank
The breach of contract case in the Delaware Chancery Court between Akorn (AKRX) and Fresenius (FSNUY) is scheduled to go to trial on July 9, Deutsche Bank analyst Gregg Gilbert tells investors in a research note. Akorn is seeking a ruling that Fresenius be required to complete its acquisition per the merger agreement, which Fresenius purported to terminate in April. The analyst believes the upside versus downside profile for Akorn from the current price is worth considering. He sees three potential scenarios: Fresenius is required to acquire Akorn for $34 per share, representing 102% upside; the deal breaks and Akorn trades down to single digits on a standalone basis, or 69% downside; the companies settle for a price below $34 but well above the current stock price, which could yield more upside than downside, the analyst believes. Gilbert believes Akorn's upside/downside "looks interesting" ahead of the key event.
05/24/18
RBCM
05/24/18
NO CHANGE
RBCM
Outperform
RBC still believes Akorn takeover by Fresenius can close
After speaking with a legal expert "well-versed in Delaware law," RBC Capital analyst Randall Stanicky says he still has not heard anything that makes him believe Akorn's (AKRX) takeover by Fresenius SE (FSNUY) cannot close. While the outcome remains high risk and debate will continue, Akorn shares have high potential reward relative to the closing deal price of $34 per share, Stanicky tells investors in a research note. The legal expert the analyst spoke to expects a reasonably quick trial from Chancery Judge Laster with the decision likely in July. An appeal would go to the Delaware Supreme Court and could last several months, but expectations are that the trial decision will be "tough" to reverse given this is an issue of fact, the analyst adds. Stanicky has a Sector Perform rating on Akorn shares with a $25 price target.
CMCSA Comcast
$35.38

0.33 (0.94%)

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.
08/06/18
ATLE
08/06/18
UPGRADE
Target $42
ATLE
Overweight
Comcast upgraded to Overweight from Neutral at Atlantic Equities
Atlantic Equities analyst Hamilton Faber upgraded Comcast to Overweight from Neutral and raised his price target on the shares to $42 from $34 as he believes "the bulk of the M&A storm" has passed. The analyst notes that Comcast has pulled out of the race for Fox (FOXA), he now sees a plan B for NBCU and broadband trends have improved dramatically as the company embraces standalone services while mobile is also seeing excellent traction.
07/27/18
JEFF
07/27/18
NO CHANGE
Target $41
JEFF
Buy
Comcast cable results remove bear thesis, says Jefferies
Jefferies analyst John Janedis thinks Comcast's cable results in Q2 "take the incremental bear thesis off the table." Broadband subscriber additions came in ahead of expectations, with average revenue per user growth the best in several quarters, Janedis tells investors in a research note. The analyst says the "sky is not falling" and that his Buy thesis is intact. He keeps a $41 price target for shares of Comcast.
07/25/18
JPMS
07/25/18
NO CHANGE
JPMS
Overweight
Invalidated patent 'not material' to TiVo court fight, says JPMorgan
JPMorgan analyst Sterling Auty noted that the USPTO's Patent Trial and Appeal Board has declared patent 8,433,696 held by TiVo (TIVO) to be invalid as it believes that the technology involves a variation of earlier know-how. While a "scary headline," the reality is this does not matter in terms of TiVo's court case with Comcast (CMCSA), since this patent was dropped from the case, said Auty, who keeps an Overweight rating on TiVo shares.
FOXA 21st Century Fox
$45.48

0.17 (0.38%)

08/09/18
08/09/18
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. Seagate (STX) downgraded to Sell from Neutral at Goldman Sachs by analyst Mark Delaney, who said that while Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market." 2. 21st Century Fox (FOXA) downgraded to Sector Perform from Outperform at RBC Capital by analyst Steven Cahall who noted that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. 3. e.l.f. Beauty (ELF) downgraded to Hold from Buy at Jefferies by analyst Stephanie Wissink, who said she is disappointed with the company's "sales fall off," which she says "seems more systemic than previously assumed." e.l.f.'s profit advancement will reverse in the second half of the year amid stepped up brand investment. Shares were also downgraded to Underweight from Neutral at Piper Jaffray, who said she sees a "growing risk of shelf-space cuts into 2019" if underlying sales trends do not improve, at Citi to Neutral from Buy and at DA Davidson to Neutral from Buy. 4. Southern Company (SO) downgraded to Underperform from In Line at Evercore ISI by analyst Greg Gordon, who said he believes the shares are still not discounting enough risk after the company announced a $790M after-tax charge related to an increase in the cost estimate for constructing Vogtle Nuclear Plants 3 and 4. Shares were also downgraded to Underperform from Neutral at Credit Suisse, to Equal Weight from Overweight at Barclays and to Neutral from Buy at Guggenheim. 5. Schneider National (SNDR) downgraded to Underperform from Buy at BofA/Merrill by analyst Ken Hoexter, who cited "stretched" relative valuation. The analyst also downgraded Genesee & Wyoming (GWR) to Neutral from Buy, saying recent strength in shares has led to a premium multiple and sees minimal upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/18
RBCM
08/09/18
DOWNGRADE
Target $49
RBCM
Sector Perform
21st Century Fox downgraded to Sector Perform at RBC Capital on valuation
As reported earlier, RBC Capital analyst Steven Cahall downgraded 21st Century Fox to Sector Perform from Outperform but raised his price target to $49 from $45. The analyst notes that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. Cahall adds that while the company is "undervalued", he awaits the separation to re-evaluate his stance.
08/09/18
RBCM
08/09/18
DOWNGRADE
RBCM
Sector Perform
21st Century Fox downgraded to Sector Perform from Outperform at RBC Capital
08/09/18
08/09/18
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 SEAGATE TO SELL: Goldman Sachs analyst Mark Delaney downgraded Seagate Technology (STX) to Sell from Neutral and lowered his price target for the shares to $44 from $50, representing 20% downside from current levels. While Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market," Delaney said. He believes Seagate's fundamentals will peak in the second half of 2018 and decline in 2019. RBC CUTS FOX TO SECTOR PERFORM ON VALUATION: RBC Capital analyst Steven Cahall downgraded 21st Century Fox (FOXA) to Sector Perform from Outperform, but raised his price target to $49 from $45. The analyst noted that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. Cahall adds that while the company is "undervalued", he awaits the separation to re-evaluate his stance. MORGAN STANLEY DOWNGRADES SEMI INDUSTRY: Morgan Stanley analyst Joseph Moore said he has become less constructive on semiconductor stocks through the year and he now believes elevated inventory levels and stretched lead times leave "no margin for error." Given his view that any lead time adjustment or demand slowdown could drive a "meaningful correction," Moore has downgraded his semiconductor industry view to Cautious from In-Line. He favors connector companies, like Amphenol (APH) and TE Connectivity (TEL) over analog/MCU at this point in the cycle, due to lower risk around lead time issues, Moore said. He also has a "strong preference" for high margin and more defensive models, such as Analog Devices (ADI) over lower margin and commodity exposed ones, like Cypress Semiconductor (CY) and ON Semiconductor (ON), he said. Despite his more cautious view on the space, Moore kept Overweight ratings on Nvidia (NVDA), Xilinx (XLNX) and Ambarella (AMBA), citing his view that they should benefit from secular growth in the area of AI, data center, and autonomous. SOUTHERN COMPANY GETS MULTIPLE DOWNGRADES AFTER Q2 REPORT: Barclays analyst Eric Beaumont downgraded Southern Company (SO) to Equal Weight and lowered his price target for the shares to $48 from $51. Credit Suisse analyst Michael Weinstein downgraded Southern Company to Underperform from Neutral and lowered his price target on the shares to $43 from $46. Guggenheim analyst Shahriar Pourreza downgraded Southern Company to Neutral from Buy and lowered his price target on the stock to $47 from $50. Evercore ISI analyst Greg Gordon downgraded Southern Company to Underperform from In Line and lowered his price target on Southern shares to $46 from $46.75.
LHO LaSalle Hotel
$34.36

0.315 (0.93%)

05/18/18
BTIG
05/18/18
UPGRADE
Target $34.5
BTIG
Buy
LaSalle Hotel upgraded to Buy from Neutral at BTIG
BTIG analyst James Sullivan upgraded LaSalle Hotel to Buy from Neutral with a $34.50 price target following a better than Q1 report and raised guidance led by a rebound in demand from business and international demand segments.
05/21/18
LEHM
05/21/18
UPGRADE
LEHM
Equal Weight
LaSalle Hotel upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Felicia Kantor Hendrix upgraded LaSalle Hotel (LHO) to Equal Weight from Underweight following the company's announcement that it has agreed to be acquired by Blackstone (BX).
05/11/18
RHCO
05/11/18
NO CHANGE
Target $32
RHCO
Hold
LaSalle Hotel price target raised to $32 from $24 at SunTrust
SunTrust analyst C. Patrick Scholes raised his price target on LaSalle Hotel to $32 after its Q1 earnings beat and also raised his FY18 EBITDA target to $306M from $295M. Scholes believes that there is now a 70% chance that the REIT is bought out by Pebblebrook (PEB) or another buyer given the "positive tone" around its quarter. The analyst keeps his Hold rating however given the valuation on LaSalle Hotel.
05/22/18
BARD
05/22/18
DOWNGRADE
Target $34
BARD
Neutral
LaSalle Hotel downgraded to Neutral from Outperform at Baird
Baird analyst Michael Bellisario downgraded LaSalle Hotel (LHO) to Neutral following its buyout offer from Blackstone (BX). The agreement puts the shares at full valuation and essentially matches his buyout math. As a result, he believes a higher bid is unlikely. Bellisario raised his price target to $34 from $32 on LaSalle Hotel shares.
MDR McDermott
$19.09

-0.26 (-1.34%)

04/23/18
SBSH
04/23/18
NO CHANGE
SBSH
McDermott bid would need to be closer to $10/share to break CB&I deal, says Citi
Citi said Subsea 7's hostile bid for McDermott (MDR) for $7 per share was an interesting and unexpected move, but the firm believes any proposal would have to be closer to $10 per share to disrupt the current terms of the deal with CB&I (CBI), which it notes is well down the road toward closing. Citi's "strong sense" is that McDermott, with the support of a majority of its board, is intent on staying the course in closing the deal with CB&I, adding that it thinks McDermott is buying CB&I at or near the bottom of a backlog cycle.
01/23/18
KEYB
01/23/18
UPGRADE
KEYB
Overweight
McDermott upgraded to Overweight from Sector Weight at KeyBanc
01/24/18
KEYB
01/24/18
UPGRADE
Target $14
KEYB
Overweight
McDermott upgraded to Overweight with $14 target at KeyBanc
KeyBanc analyst Tahira Afzal upgraded McDermott (MDR) to Overweight from Sector Weight with a $14 price target. The analyst expects a "step-up in execution" at CB&I (CBI) following the merger and has confidence in a sustained improvement in the energy macro environment. He believes the deal will create value.
12/20/17
MSCO
12/20/17
NO CHANGE
MSCO
Underweight
McDermott may have hard time recognizing CB&I synergies, says Morgan Stanley
Morgan Stanley analyst Ole Slorer said he sees room for concern over McDermott's (MDR) deal to combine in an all-stock transaction with CB&I (CBI). McDermott's "pristine" balance sheet and improved execution could be hurt by CBI's recent execution challenges and "higher than optimal" debt, while synergies from the merger may be difficult to realize, contends Slorer, who keeps an Underweight rating on McDermott shares.
DISCA Discovery
$26.42

0.53 (2.05%)

07/19/18
07/19/18
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. Square (SQ) upgraded to Outperform from Neutral at Credit Suisse WITH analyst Paul Condra saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants, positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases, and growth investing should support strong revenue trends driving upside to revenue forecasts in the out-years. 2. Discovery (DISCA) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Drew Borst saying Discovery's acquisition of Scripps creates "meaningful" cost and revenue synergy opportunities. 3. Grainger (GWW) upgraded to Neutral from Sell at UBS with analyst Steven Winoker saying the company's strategic initiatives, including its pricing reset and e-commerce platform development, reposition it to gain market share through 2019. 4. Hilton (HLT) upgraded to Buy from Hold at Berenberg. 5. United Continental (UAL) upgraded to Outperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/18
GSCO
07/19/18
UPGRADE
Target $33
GSCO
Conviction Buy
Discovery upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Drew Borst added Discovery to his firm's Americas Conviction List, while maintaining a Buy rating on the shares, with 24% upside to his $33 12-month price target. Discovery's acquisition of Scripps creates "meaningful" cost and revenue synergy opportunities, Borst tells investors in a research note. The analyst views Discovery's carriage on Sling TV, a successful advertising upfront, and positive earnings revisions as near-term catalysts for the shares.
07/03/18
IMPC
07/03/18
NO CHANGE
Target $32
IMPC
Outperform
Discovery will not bid for Fox regional sports networks, says Imperial Capital
Imperial Capital analyst David Miller says Discovery (DISCA) is seeing "unnecessary selling pressure" on media reports that the company is a potential bidder for the Fox regional sports networks, which Disney (DIS), through its pending acquisition of the entertainment assets of 21st Century Fox (FOXA), will have to divest, as per the Department of Justice decree. The analyst believes potential bidders for these assets will include Charter (CHTR), Liberty Media (LMCA), Altice (ATUS), and various private equity entities, but not Discovery. Discovery is fully occupied with the integration of Scripps Networks, the sale of its headquarters building in Bethesda, Maryland, as well as ratings issues at its core Discovery Channel, Miller tells investors in a research note. Further, he notes that Discovery already pledged $2B in additional sports rights to broadcast various PGA Tour events via its networks outside of the U.S. through 2030. As such, the analyst thinks the recent pullback has created an "attractive opportunity to either establish new positions, or for existing holders to lower their bases." Miller keeps an Outperform rating on Discovery with a $32 price target.
07/10/18
FBCO
07/10/18
INITIATION
Target $30
FBCO
Neutral
Discovery initiated with a Neutral at Credit Suisse
Credit Suisse analyst Douglas Mitchelson initiated Discovery with a Neutral rating and a price target of $30. The analyst notes that while the company has "excellent brands and management", its scale is lacking to compete against against large distributors as its pay TV profits pale compared to streaming. The analyst adds that it is unlikely for potential acquirers to appear and pursue Discovery's non-fiction programming assets.
NXPI NXP Semiconductors
$91.21

-1.92 (-2.06%)

08/02/18
LEHM
08/02/18
INITIATION
Target $100
LEHM
Equal Weight
NXP Semiconductors reinstated with an Equal Weight at Barclays
Barclays analyst Blayne Curtis reinstated coverage of NXP Semiconductors with an Equal Weight rating and $100 price target. The analyst sees "too much uncertainty on the top and bottom line" for a more constructive rating at this time. He believes NXP shares will trade at a discount to "higher quality" analog peers.
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.
08/14/18
MZHO
08/14/18
NO CHANGE
MZHO
Buy
ON Semiconductor pullback a buying opportunity, says Mizuho
Mizuho analyst Vijay Rakesh views the recent pullback in shares of ON Semiconductor (ON) as a buying opportunity. The analyst attributes the selloff to concerns of a peaking semi cycle, but points out that over the last four-years, ON's exposure to auto and industrial revenue has almost doubled. However, the stock trades at a 50% discount to automotive and industrial peers including Texas Instruments (TXN), NXP Semiconductors (NXPI), Analog Devices (ADI), Maxim Integrated (MXIM) and Monolithic Power (MPWR), Rakesh tells investors in a research note.
07/30/18
NEED
07/30/18
NO CHANGE
Target $120
NEED
Strong Buy
NXP Semiconductors price target lowered to $120 from $130 at Needham
Needham analyst Rajvindra Gill lowered his price target on NXP Semiconductors (NXPI) to $120 to reflect last week's sell-off that followed its earnings, buyback, and terminated Qualcomm (QCOM) deal. The analyst also keeps his Strong Buy rating and believes that investors will re-evaluated the shares, given that the company's revenue mix is much healthier on combination of auto, industrial and internet of things end markets, while the revenues lost from ZTE (ZTCOY) component import ban should resume in Q3.
FOX 21st Century Fox
$44.97

0.25 (0.56%)

07/13/18
BERN
07/13/18
NO CHANGE
BERN
Bernstein 'not so sure' Comcast will give up on Fox assets
Bernstein analyst Todd Juenger said that it appears that the market is starting to believe Comcast (CMCSA) will give up on its bid to buy assets from 21st Century Fox (FOXA) and focus on Sky (SKYAY), but he said he is "not so sure" that is the case after only one counter from Disney (DIS). He does not believe Comcast would put forth a $35 bid unless it was prepared to bid up to near $45 per share, Juenger tells investors. If Comcast ups its bid, it either wins Fox at a high price or Disney is forced to pay more, which both seem better than giving up to him, Juenger stated. In any case, the "winner" will be left with increased leverage on a cyclical business late in the cycle at a time when it needs to invest significantly to build its direct-to-consumer business, added Juenger.
07/13/18
07/13/18
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. VF CORP DOUBLE UPGRADE: BofA Merrill Lynch analyst Robert Ohmes upgraded VF Corp (VFC) to Buy from Underperform and raised his price objective to $96 from $65 ahead of the company's earnings report on July 20, telling investors in a research note that he believes Vans will be a "go-to-brand" for the back-to-school selling season. He said his channel checks indicate accelerating momentum in Vans, especially classic styles, and that the $50-$60 price point is attractive given consumers' shift to value. RAYMOND JAMES DOWNGRADES AT&T: Raymond James downgraded AT&T (T) to Market Perform from Outperform. Analyst Frank Louthan said he views the Department of Justice appeal of the Time Warner case as a negative and said it is a "frustrating delay." Louthan expects the suit to be a "significant overhang" for an extended period of time, which will limit share appreciation, but remains confident AT&T will prevail. AT&T is lower by 2% in late morning trading. STIFEL STARTS GALMED WITH A BUY: Stifel analyst Adam Walsh initiated Galmed (GLMD) with a Buy rating and $35 price target, calling it a "legitimate late-stage NASH play" after Aramchol recently proved itself in a Phase 2 trial as a clearly active and "very safe" compound for treating NASH. Galmed is trading higher by over 17% in late morning trading. MORGAN STANLEY HIKES WWE TARGET TO $100: Morgan Stanley analyst Benjamin Swinburne said that WWE (WWE), by securing rights fees in its new five-year agreements with NBC (CMCSA, CMCSK) and Fox (FOX, FOXA) that are 3.6 times higher than its prior five-year broadcast agreement with NBC, has gained a "massive increase" in earnings power and "extremely high" visibility into the associated revenue. Given the recently announced deals, he raised his price target on WWE shares to $100 from $58 and kept an Overweight rating on the stock. WILLIAM BLAIR CALLS KEMPER PULLBACK 'BUYING OPPORTUNITY': William Blair analyst Adam Klauber said he views shares of Kemper (KMPR) as "even more attractive" after the recent pullback, which he attributes to selling pressures from Infinity Property shareholders receiving Kemper stock. Klauber said Kemper "continues to be our top conviction idea," and kept an Outpeform rating on the name. Kemper is higher by 4.8% in late morning trading.
AET Aetna
$197.01

2.21 (1.13%)

07/20/18
CHLM
07/20/18
NO CHANGE
Target $23
CHLM
Buy
Buy Natera shares on any potential post-Aetna weakness, says Craig-Hallum
Craig-Hallum analyst Alexander Nowak says news that Aetna (AET) updated its prenatal testing medical policy, deciding not to cover average risk testing, is "disappointing" given ACOG's recent stance change on average risk, telling investors he believes Aetna's decision adds risk to UnitedHealth's (UNH) upcoming review, which is scheduled for early 2019. Nowak says he continues to like the Natera (NTRA) story and long-term potential and would be buying shares on any possible post-Aetna weakness.
07/09/18
SBSH
07/09/18
UPGRADE
Target $81
SBSH
Buy
CVS Health assumed to Buy from Neutral at Citi
Citi analyst Ralph Giacobbe upgraded CVS Health (CVS) to Buy after assuming coverage of the name. The analyst raised his price target for the shares to $81 from $68. While the execution of an integrated healthcare superstore post the pending Aetna (AET) acquisition may be a long way off, the concept will resonate with employers and individuals, Giacobbe tells investors in a research note. He believes deal integration and competitive Amazon (AMZN) risk are "somewhat overstated particularly in the context of heavily discounted valuation."
08/09/18
RBCM
08/09/18
NO CHANGE
Target $90
RBCM
Outperform
CVS Health price target raised to $90 from $84 at RBC Capital
RBC Capital analyst George Hill raised his price target on CVS Health (CVS) to $90 and kept his Outperform rating after its Q2 results. The analyst notes that the quarter benefited from expense timing, given that its FY18 outlook has been largely maintained. Hill also maintains his positive outlook on the Aetna (AET) transaction and the impact of regulatory changes on the company.
07/10/18
PIPR
07/10/18
NO CHANGE
PIPR
Risk adjuster suspension positive for Centene and Molina, says Piper Jaffray
Centers for Medicare & Medicaid Services suspending risk adjusters for the health exchange will likely cost the government and consumers more, but it could be positive for Centene (CNC) and Molina Healthcare (MOH), Piper Jaffray analyst Sarah James tells investors in a research note. Both companies are in a net payable position for 2017 and not having to pay these funds would allow the plans to retain cash, the analyst adds. James also sees a positive read-through for UnitedHealth (UNH), Aetna (AET) and Cigna (CI). The analyst finds it most likely that CMS will seek to adjust the risk adjusters in the end rather than cancel the program, but she adds the agency only has a few weeks for them to sort this out, which she feels is not enough time.
XL XL Group
$56.37

0.01 (0.02%)

05/08/18
RBCM
05/08/18
DOWNGRADE
Target $57
RBCM
Sector Perform
XL Group downgraded to Sector Perform from Outperform at RBC CapitalAXA
As reported earlier, RBC Capital analyst Mark Dwelle downgraded XL Group (XL) to Sector Perform from Outperform but raised his price target to $57 from $46. The analyst notes that the company's Q1 earnings did not contain any red flags around the sale of the company to AXA (AXAHY), which is on track to close in late Q2 or in Q3. Dwelle adds that his new rating is an indication of low probability of a competitive bidder emerging.
05/08/18
05/08/18
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. Comcast (CMCSA) downgraded to Neutral from Overweight at Atlantic Equities. 2. Zillow (Z, ZG) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Mahaney citing the recent stock price appreciation. 3. XL Group (XL) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Dwelle saying the company's first quarter earnings did not contain any red flags around the sale of the company to AXA (AXAHY), which is on track to close in late second quarter or in the third quarter. 4. Ionis Pharmaceuticals (IONS) downgraded to In Line from Outperform at Evercore ISI with analyst Josh Schimmer citing the safety concerns around volanesorsen discussed in the latest FDA briefing documents, which also "dismantled the company's claims" that the treatment leads to benefits in pancreatis. 5. Sapiens (SPNS) downgraded to Market Perform from Outperform at William Blair with analyst Justin Furby saying consensus estimates for 2019 could be a "too aggressive." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/02/18
LEHM
04/02/18
DOWNGRADE
Target $58
LEHM
Equal Weight
XL Group downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Jay Gelb downgraded XL Group (XL) to Equal Weight while raising his price target for the shares to $58 from $50 to reflect the takeover by AXA (AXAHY).
05/08/18
RBCM
05/08/18
DOWNGRADE
RBCM
Sector Perform
XL Group downgraded to Sector Perform from Outperform at RBC Capital
GOLD Randgold
$67.37

-1.75 (-2.53%)

03/13/18
ADAM
03/13/18
UPGRADE
ADAM
Buy
Randgold upgraded to Buy from Hold at Canaccord
Canaccord Genuity analyst Tim Huff upgraded Randgold Resources to Buy while lowering his price target for the shares to GBP 70 from GBP 75. The analyst "conservatively" forecasts an 8% rise in EBITDA through 2020 due to lower cost guidance from management by mine. The analyst views the recent pullback in the shares as a good buying opportunity.
06/08/18
JPMS
06/08/18
UPGRADE
Target $94
JPMS
Overweight
Randgold upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Dominic O'Kane upgraded Randgold to Overweight citing valuation with the shares down 15% year-to-date. The analyst lowered his price target for the shares to $94 from $98.
03/26/18
GSCO
03/26/18
UPGRADE
GSCO
Buy
Randgold upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Eugene King upgraded Randgold Resources while lowering his price target for the shares to 7,500p from 8,000p. The analyst sees an attractive entry point following the stock's recent selloff. He notes that Goldman's commodities team is bullish on gold for the first time in more than five years based on higher inflation, rising emerging market wealth and concerns about an equity correction. King upgraded his sector view to Attractive citing his firm's bullish gold outlook.
04/04/18
RBCM
04/04/18
DOWNGRADE
RBCM
Underperform
Randgold downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital analyst Tyler Broda downgraded Randgold to Underperform from Sector Perform and lowered his price target to GBp4,900 from GBp6,200. Broda notes that while Randgold has some positives such as a strong balance sheet, a high dividend and a disciplined track record on acquisitions, its attributable production has reached peak levels as its Tongon site is reaching the end of its life and growth from Massawa is uncertain. The analyst further attributes his rating revision to enhanced operating risks in Africa and the uncertainty around the cash flows from the Kibali mine in the Congo.
IAG IAMGold
$4.58

-0.16 (-3.38%)

06/07/18
DESJ
06/07/18
DOWNGRADE
DESJ
Hold
IAMGold downgraded to Hold from Buy at Desjardins
09/29/17
ADAM
09/29/17
DOWNGRADE
Target $8
ADAM
Hold
IAMGold downgraded to Hold from Buy at Canaccord
Canaccord analyst Tony Lesiak downgraded IAMGold to Hold from Buy to reflect forward curve pricing assumptions. He said he appreciates it strong growth profile, declining cost structure, and progress in its exploration program, but he sees upward momentum fading. Lesiak lowered his price target to $8.07 from $8.18 on IAMGold shares.
01/17/18
ADAM
01/17/18
UPGRADE
ADAM
Buy
IAMGold upgraded to Buy from Hold at Canaccord
Canaccord analyst Tony Lesiak upgraded IAMGold's to Buy following strong Q4 operating results and the derisking of the Essakane Heap Leach product.
04/13/18
BOFA
04/13/18
UPGRADE
BOFA
Buy
IAMGold upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Michael Jalonen downgraded IAMGold to Buy from Neutral and raised its price target to $7.50 from $7.00 citing relative valuation, production growth, and numerous 2018 catalysts.
COL Acquired by UTX
$135.58

-0.13 (-0.10%)

01/16/18
WELS
01/16/18
DOWNGRADE
Target $143
WELS
Market Perform
Rockwell Collins downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sam Pearlstein downgraded Rockwell Collins to Market Perform saying the stock is largely driven by the pending acquisition by United Technologies (UTX). The analyst has a $143 price target for the shares.
01/16/18
01/16/18
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. Under Armour (UA, UAA) downgraded to Underperform from Neutral at Macquarie with analyst Laurent Vasilescu citing weaker North America revenues, flat Connected Fitness revenues, international revenues of up 21% year-over-year, gross margin pressure, and higher SG&A assumptions. 2. Verizon (VZ) downgraded to Neutral from Buy at MoffettNathanson. 3. Lockheed Martin (LMT) and Rockwell Collins (COL) were downgraded to Market Perform from Outperform at Wells Fargo. 4. Spirit Airlines (SAVE) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi saying he believes Spirit will benefit this year from an improving demand and revenue environment, but that its higher revenue risk relative to potential competitive responses to its expected capacity growth is not fully reflected in the stock at current levels. 5. Finisar (FNSR) downgraded to Sell from Neutral at Goldman Sachs with analyst Doug Clark saying risks of oversupply and competition are heating up in the optical component landscape. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/05/18
BARD
01/05/18
UPGRADE
Target $156
BARD
Outperform
United Technologies upgraded to Outperform from Neutral at Baird
Baird analyst Peter Arment upgraded United Technologies (UTX) to Outperform from Neutral utilizing pro forma earnings of the pending Rockwell Collins (COL) deal and reflecting higher accretion from tax reform. Arment raised his price target to $156 from $121 on United Technologies shares.
06/15/18
WELS
06/15/18
NO CHANGE
Target $150
WELS
Outperform
United Technologies sum-of-the-parts worth $150/share or more, says Wells Fargo
Wells Fargo analyst Sam Pearlstein continues to thinks United Technologies' (UTX) sum-of-the-parts is worth $150 or more per share. With the close of the Rockwell Collins (COL) acquisition around mid-year, the analyst updated his proforma estimates to reflect the combined entity. Either the stock will begin to reflect the fundamentals or the expected strategic review likely leads to realizing that value, Pearlstein tells investors in a research note. He keeps an Outperform rating on United Technologies.
AEM Agnico Eagle
$38.29

-0.33 (-0.85%)

07/30/18
RBCM
07/30/18
UPGRADE
RBCM
Outperform
Agnico Eagle upgraded to Outperform from Sector Perform at RBC Capital
08/09/18
NATB
08/09/18
UPGRADE
NATB
Outperform
Agnico Eagle upgraded to Outperform from Sector Perform at National Bank
07/30/18
RBCM
07/30/18
UPGRADE
Target $55
RBCM
Outperform
Agnico Eagle upgraded to Outperform at RBC Capital on higher growth
As reported earlier, RBC Capital analyst Stephen Walker upgraded Agnico Eagle to Outperform from Standard Perform and raised his price target to $55 from $49. The analyst anticipates the company's gold production to rise 32% in 2018-2020 period and sees its "significant" increase in free cash flows potentially leading to a doubling of its dividend. Walker also expects the market to "pay up" for Agnico Eagle's shareholder friendly capital allocation history.
05/29/18
05/29/18
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. Ford (F) upgraded to Buy from Hold at Jefferies with analyst Philippe Houchois saying the company is getting no credit for its "ambitious but credible" cost targets and "strategic levers" to improve market and product exposure. 2. Roku (ROKU) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Benjamin Swinburne saying the shares are now down over 25% year-to-date while the company's "core fundamentals," such as ARPU and user growth, have been consistently coming in ahead of his prior expectations. 3. Phillips 66 (PSX) upgraded to Outperform from Market Perform at Wells Fargo with analyst Roger Read saying the IMO 2020 low sulfur marine fuel rule in his estimation will be a positive for the U.S. Independent Refiners. 4. Agnico Eagle (AEM) upgraded to Outperform from Market Perform at BMO Capital with analyst Andrew Kaip saying the company stands to benefit from "solid production growth" of 30% through 2020 following the addition of Meliadine assets into the pipeline and an improving free cash flow profile. 5. Occidental Petroleum (OXY) upgraded to Overweight from Equalweight at Capital One. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GG Goldcorp
$11.34

-0.18 (-1.56%)

11/30/17
SBSH
11/30/17
UPGRADE
Target $16
SBSH
Buy
Goldcorp upgraded to Buy from Neutral at Citi
Citi analyst Alexander Hacking upgraded Goldcorp to Buy and raised his price target for the shares to $16 from $15. The multi-year underperformance of the shares has reset investor expectations and "opened up value," Hacking tells investors i a research note. The analyst remains "neutral to cautious" on the gold sector heading into 2018.
04/23/18
ADAM
04/23/18
UPGRADE
ADAM
Buy
Goldcorp upgraded to Buy from Hold at Canaccord
11/30/17
SBSH
11/30/17
DOWNGRADE
Target $13
SBSH
Sell
Barrick Gold downgraded to Sell from Buy at Citi
Citi analyst Alexander Hacking double downgraded Barrick Gold (ABX) to Sell from Buy and cut his price target for the shares to $13 from $20. The analyst cites the company's operating issues and potential for an upcoming reinvestment cycle. He remains "neutral to cautious" on the gold sector heading into 2018. Hacking this morning also upgraded Goldcorp (GG) to Buy and Agnico Eagle (AEM) to Neutral.
01/15/18
FBCO
01/15/18
UPGRADE
Target $19
FBCO
Outperform
Goldcorp upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Anita Soni upgraded Goldcorp to Outperform and raised her price target for the shares to $19 from $15.50. The shares closed Friday up 45c, or 3%, to $14.35. Soni sees Goldcorp posting "attractive" growth over the next two years and believes its analyst day on January 16 will serve as a positive catalyst for the shares. The analyst views the company's valuation as attractive relative to peers.
BHC Bausch Health
$21.53

0.125 (0.58%)

07/23/18
PIPR
07/23/18
NO CHANGE
Target $13
PIPR
Underweight
Piper reiterates Underweight on Bausch, says valuation not 'logical'
Piper Jaffray analyst David Amsellem reiterates an Underweight rating on Bausch Health Companies, formerly named Valeant Pharmaceuticals, with a $13 price target. The analyst continues to have "myriad concerns" regarding the commercial portfolio and pipeline, namely doubts regarding where and when EBITDA will trough. He does not believe the current valuation is "logical" given Bausch's "significant exposure to mature assets with questionable durability and leverage ratios that are still very much an eyesore."
08/08/18
JPMS
08/08/18
NO CHANGE
Target $18
JPMS
Underweight
Bausch Health price target raised to $18 from $13 at JPMorgan
JPMorgan analyst Chris Schott raised his price target for Bausch Health to $18 to reflect higher Xifaxan growth as well as less erosion for the diversified business. The analyst, however, keeps an Underweight rating on the shares. He sees "only limited" EBITDA growth for the company over the next several years.
SHPG Shire
$169.14

-0.64 (-0.38%)

04/19/18
WELS
04/19/18
NO CHANGE
Target $245
WELS
Outperform
Allergan selloff on potential Shire bid understandable, says Wells Fargo
Wells Fargo analyst David Maris believes the selloff today in shares of Allergan (AGN) on news the company is considering a bid for Shire (SHPG) is understandable. Many believe Allergan was in the process of trimming, not bulking up, Maris tells investors in a research note. He believes that if CNBC's subsequent report is true and Allergan won't be making a bid, the "about-face would be an incredible turn given Allergan's press release came out just a couple hours earlier." Further, the analyst thinks investors are now left wondering what type of disruption another major integration could mean for a company that has already had significant organizational change. Maris has an Outperform rating on Allergan with a $245 price target. The stock in afternoon trading is down 4% to $159.36.
04/25/18
RHCO
04/25/18
NO CHANGE
Target $205
RHCO
Buy
Shire price target raised to $205 from $190 at SunTrust
SunTrust analyst John Boris raised his price target on Shire (SHPG) to $205 and kept his Buy rating after an updated merger proposal from Takeda (TKPYY), which has until May 8th to make the final offer. Boris believes the combined stock-and-cash offer of $205 is high enough for Shire shareholders to accept the terms, and other bidders could potentially emerge based on its positive catalysts such as Neuroscience strategic review and LANA August PDUFA.
05/09/18
LEER
05/09/18
NO CHANGE
LEER
Takeda/Shire transaction shows path for consolidation, says Leerink
Leerink analyst Geoffrey Porges notes that Takeda (TKPYY) confirmed its intention and agreement to purchase Shire (SHPG) for $62B in cash and stock. For the broader biopharma industry, the analyst believes Takeda's ability to lever up to an estimated 5.4x net debt/EBITDA suggests that investors are underestimating the ability of large cap biopharma companies to pursue large transactions. Nearly all of the large cap biopharma companies face looming growth issues or suffer under revenue-concentration risk discounts that could be mitigated by large-scale acquisitions, he contends. Porges believes that if Takeda can execute the Shire acquisition while checking the boxes of investor demands of a net positive ROIC, instant EPS accretion, maintaining an investment grade credit rating, and massive synergy savings, then others in the biopharma industry with stronger balance sheets and larger valuations can contemplate transactions that are substantially larger even than Shire.
04/19/18
WELS
04/19/18
NO CHANGE
WELS
Outperform
Wells says Allergan investors likely 'relieved and confused' by Shire news
Wells Fargo analyst David Maris believes Allergan (AGN) investors will be "both relieved and confused" by the company's announcement that it was considering a bid for Shire (SHPG) being following approximately four hours later by another announcement saying that it does not intend to make an offer for Shire. After catching up with Allergan, Maris does not think the turn of events reflects a confusion or flip-flopping, but rather was the result of disclosures required by UK takeover law, and "don't reflect anything other than Allergan being caught at a bad time." He maintains an Outperform rating on Allergan shares.
MYL Mylan
$38.53

0.98 (2.61%)

08/13/18
08/13/18
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. Papa John's (PZZA) upgraded to Buy from Neutral at Longbow. 2. Mylan (MYL) and Endo (ENDP) were upgraded to Outperform from Sector Perform at RBC Capital. 3. Dollar Tree (DLTR) upgraded to Overweight from Neutral at Atlantic Equities. 4. Fluor (FLR) upgraded to Buy from Neutral at UBS with analyst Steven Fisher saying he expects Fluor's backlog to inflect positively in Q3 and rise 35%-40% by the middle of 2019. 5. Viavi (VIAV) upgraded to Buy from Hold at Needham with analyst Alex Henderson saying the company's latest update suggests it is working through its restructuring and realignment issues. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/13/18
RBCM
08/13/18
UPGRADE
Target $51
RBCM
Outperform
Mylan upgraded to Outperform at RBC Capital on cyclical improvement expectation
As reported earlier, RBC Capital analyst Randall Stanicky upgraded Mylan to Outperform and raised his price target to $51 from $42. The analyst notes that the sentiment and valuation on the stock are at their lows, just as the outlook for the sector is positioned for a "cyclical improvement". Stanicky further states that the recent "sizable cut to guidance, negative sentiment and near Street-low valuation make this entry point alluring", particularly in light of the prospects for approval of the company's generic Advair and RESTASIS.
08/09/18
LEER
08/09/18
NO CHANGE
Target $47
LEER
Outperform
Mylan price target lowered to $47 from $53 at Leerink
Leerink analyst Ami Fadia lowered her price target for Mylan to $47 from $53 saying the "significant" 2018 revenue and EPS guidance reduction is disappointing, and the impact and duration of the restructuring at the Morgantown facility remains unclear. The analyst reiterates an Outperform rating on the shares.
08/13/18
RBCM
08/13/18
UPGRADE
RBCM
Outperform
Mylan upgraded to Outperform from Sector Perform at RBC Capital
AGN Allergan
$184.44

0.18 (0.10%)

08/03/18
MZHO
08/03/18
UPGRADE
Target $210
MZHO
Buy
Allergan upgraded to Buy from Neutral at Mizuho
Mizuho analyst Irina Koffler upgraded Allergan to Buy and raised her price target for the shares to $210 from $194. The Botox maker closed yesterday up 29c to $184.28. The analyst views Allergan's risk/reward more favorably following the company's "strong" beat and raise quarter and the delayed introduction of Restasis generics. Further, the company's September 14 Aesthetics Day could drive multiple expansion in the stock, Koffler tells investors in a research note. The analyst likes Allergan's "dominance" in a growing cash pay market, low exposure to near-term rebating pressure, and improving operating margins after "unexpected" strength in the body contouring products in Q2.
08/03/18
08/03/18
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. ALLERGAN UPGRADED TO BUY: Mizuho analyst Irina Koffler upgraded Allergan (AGN) to Buy from Neutral and raised her price target for the shares to $210 from $194. The analyst views Allergan's risk/reward more favorably following the company's "strong" beat and raise quarter and the delayed introduction of Restasis generics. Allergan is up 1.2% in late morning trading. NEEDHAM UPS TRIPADVISOR TO HOLD: Needham analyst Laura Martin upgraded TripAdvisor (TRIP) to Hold from Underperform, saying that while the company's pivot to competing as an online travel agent has failed, its focus to grow its non-hotel businesses is a "higher ROI idea". FLOOR & DECOR DOWNGRADED AT JPMORGAN, PIPER: JPMorgan analyst Christopher Horvers downgraded Floor & Decor (FND) to Neutral from Overweight and lowered his price target for the shares to $45 from $59. The "story shift" taking place is likely to keep the shares in "purgatory," Horvers said following the company's Q2 results. Piper Jaffray analyst Peter Keith also downgraded Floor & Decor to Neutral and lowered his price target for the shares to $39 from $58. The analyst admitted his June upgrade of the stock was wrong following Floor & Decor's Q2 miss and guide down. Floor & Decor is down 6.4% in late morning trading. LUNA CUT TO MARKET PERFORM AT NORTHLAND: Northland analyst Tim Savageaux downgraded Luna Innovations (LUNA) to Market Perform from Outperform as he sees the shares reflecting the value of the "well executed" sale of the Opto Solutions unit at current levels. CANACCORD INITIATES TESLA WITH A HOLD: Canaccord analyst Jed Dorsheimer initiated Tesla (TSLA) with a Hold rating as he sees several risks around the company's financing, cash burn, and general maturity in the industry. Catalysts that could de-risk the shares include shifts in corporate governance, consistent production, and "a CEO who is not working 120 hours per week to hold things together," said Dorsheimer, who set a $336 price target on Tesla shares. BWS SAYS ARLO IPO ESTABLISHES VALUATION CASE FOR NETGEAR: BWS Financial analyst Hamed Khorsand said the pricing of Arlo Technologies' (ARLO) IPO establishes a valuation case for Netgear (NTGR). The analyst believes the IPO pricing gives some context to what Netgear's stake is worth and affirms his sum-of-parts reasoning for owning Netgear shares. He kept a Buy rating on the stock with a $64.50 price target.
08/06/18
CANT
08/06/18
NO CHANGE
Target $180
CANT
Neutral
Allergan depression drugs have billion dollar potential, says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen believes Two of Allergan's depression drugs in development, rapastinel and AGN-241751, have billions of dollars in peak sales potential. These two opportunities are still underappreciated by the Street, Chen tells investors in a research note. She expects positive data for these treatments but keeps a Neutral rating on Allergan shares with a $180 price target.
08/03/18
08/03/18
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. Allergan (AGN) upgraded to Buy from Neutral at Mizuho with analyst Irina Koffler saying she views Allergan's risk/reward more favorably following the company's "strong" beat and raise quarter and the delayed introduction of Restasis generics. 2. Pacira (PCRX) upgraded to Buy from Hold at Needham with analyst Serge Belanger citing "strong" Q2 performance of Exparel, where sales growth is accelerating while the company engages more of the anesthesiologist community. 3. Entergy (ETR) upgraded to Buy from Neutral at UBS with analyst Daniel Ford saying the stock no longer warrants a discount associated with nuclear decommissioning and operating performance risk. 4. Eversource (ES) upgraded to Neutral from Underperform at BofA/Merrill with analyst Julien Dumoulin-Smith saying the story has been de-risked with no major capex projects left. 5. TripAdvisor (TRIP) upgraded to Hold from Underperform at Needham with analyst Laura Martin saying while the company's pivot to competing as an online travel agent has failed, its focus to grow its non-hotel businesses is a "higher ROI idea." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Calyxt

$9.88

0.4 (4.22%)

20:23
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EQT Midstream Partners

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ITW

Illinois Tool Works

$131.02

-2.26 (-1.70%)

19:57
12/16/18
12/16
19:57
12/16/18
19:57
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Illinois Tool Works rating change  »

Illinois Tool Works…

03/08/13
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SWK

Stanley Black & Decker

$118.36

0.46 (0.39%)

19:57
12/16/18
12/16
19:57
12/16/18
19:57
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Stanley Black & Decker rating change  »

Stanley Black &…

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INCY

Incyte

$66.24

-1.04 (-1.55%)

, AET

Aetna

$0.00

(0.00%)

19:31
12/16/18
12/16
19:31
12/16/18
19:31
Hot Stocks
Fly Intel: Top five weekend stock stories »

Catch up on the…

INCY

Incyte

$66.24

-1.04 (-1.55%)

AET

Aetna

$0.00

(0.00%)

ANTM

Anthem

$275.59

-4.93 (-1.76%)

CNC

Centene

$127.55

-5.3 (-3.99%)

CI

Cigna

$205.34

-6.63 (-3.13%)

HNT

Health Net

$0.00

(0.00%)

HUM

Humana

$300.41

-12.09 (-3.87%)

MOH

Molina Healthcare

$131.72

-11.19 (-7.83%)

UNH

UnitedHealth

$265.06

-7.2 (-2.64%)

WCG

WellCare

$236.90

-7.44 (-3.04%)

SNE

Sony

$51.32

-0.88 (-1.69%)

GOOG

Alphabet

$1,041.68

-21.44 (-2.02%)

GOOGL

Alphabet Class A

$1,050.62

-23.36 (-2.18%)

AAPL

Apple

$165.48

-5.45 (-3.19%)

BAC

Bank of America

$24.49

0.1 (0.41%)

BLK

BlackRock

$382.25

-5.29 (-1.37%)

CAT

Caterpillar

$126.78

0.79 (0.63%)

CVX

Chevron

$113.84

-2.15 (-1.85%)

DDAIF

Daimler AG

$0.00

(0.00%)

DAL

Delta Air Lines

$53.50

-0.03 (-0.06%)

ET

Energy Transfer LP

$14.08

-0.5 (-3.43%)

TOL

Toll Brothers

$32.23

-0.4 (-1.23%)

03/08/13
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    Feb

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    Feb

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    Feb

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    Mar

EQT

EQT Corporation

$19.40

-0.78 (-3.87%)

18:54
12/16/18
12/16
18:54
12/16/18
18:54
Periodicals
EQT's board to seek meeting with Rice brothers, Reuters reports »

EQT Corporation's…

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EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

, EQGP

EQGP Holdings

$19.94

0.02 (0.10%)

18:31
12/16/18
12/16
18:31
12/16/18
18:31
Downgrade
EQT Midstream Partners, EQGP Holdings rating change at Goldman Sachs »

EQT Midstream downgraded…

EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

EQGP

EQGP Holdings

$19.94

0.02 (0.10%)

03/08/13
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CEQP

Crestwood Equity

$32.29

0.47 (1.48%)

18:28
12/16/18
12/16
18:28
12/16/18
18:28
Upgrade
Crestwood Equity rating change at Goldman Sachs »

Crestwood Equity upgraded…

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INCY

Incyte

$66.24

-1.04 (-1.55%)

17:52
12/16/18
12/16
17:52
12/16/18
17:52
Hot Stocks
Innovent, Incyte announce agreement for three clinical-stage candidates in China »

Incyte and Innovent…

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  • 24

    Feb

NSANY

Nissan

$0.00

(0.00%)

, RNLSY

Renault

$0.00

(0.00%)

17:14
12/16/18
12/16
17:14
12/16/18
17:14
Periodicals
Renault seeking Nissan shareholder meeting amid Ghosn crisis, Reuters says »

Renault (RNLSY) requested…

NSANY

Nissan

$0.00

(0.00%)

RNLSY

Renault

$0.00

(0.00%)

03/08/13
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  • 07

    Jan

T

AT&T

$30.24

0.33 (1.10%)

, CMCSA

Comcast

$36.32

-0.43 (-1.17%)

16:48
12/16/18
12/16
16:48
12/16/18
16:48
Hot Stocks
Box Office Battle: 'Spider-Verse' wins weekend with $35M »

Sony's (SNE)…

T

AT&T

$30.24

0.33 (1.10%)

CMCSA

Comcast

$36.32

-0.43 (-1.17%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$51.32

-0.88 (-1.69%)

FOX

21st Century Fox

$48.79

-0.09 (-0.18%)

FOXA

21st Century Fox

$49.06

-0.07 (-0.14%)

LGF.A

Lionsgate

$15.59

-0.16 (-1.02%)

DIS

Disney

$112.21

-1.17 (-1.03%)

VIAB

Viacom

$28.56

-0.31 (-1.07%)

VIA

Viacom

$31.23

-0.4 (-1.26%)

03/08/13
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  • 23

    Jan

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    Jan

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    Mar

ELGX

Endologix

$0.71

0.0232 (3.39%)

16:17
12/16/18
12/16
16:17
12/16/18
16:17
Conference/Events
Endologix to host special shareholder meeting »

Special Shareholder…

03/08/13
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PRPO

Precipio

$0.19

-0.0111 (-5.63%)

16:11
12/16/18
12/16
16:11
12/16/18
16:11
Conference/Events
Precipio to host special shareholder meeting »

Special Shareholder…

03/08/13
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MSB

Mesabi Trust

$25.15

-1.1 (-4.19%)

16:08
12/16/18
12/16
16:08
12/16/18
16:08
Conference/Events
Mesabi Trust to host special shareholder meeting »

Special Shareholder…

03/08/13
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MLNT

Melinta Therapeutics

$1.19

-0.1 (-7.75%)

16:02
12/16/18
12/16
16:02
12/16/18
16:02
Conference/Events
Melinta Therapeutics to host special shareholder meeting »

Special Shareholder…

03/08/13
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03/08/13
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XOM

Exxon Mobil

$75.63

-1.32 (-1.72%)

15:55
12/16/18
12/16
15:55
12/16/18
15:55
Periodicals
Exxon Mobil shareholders call for greenhouse gas reduction targets, Reuters says »

A number of institutional…

03/08/13
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ANTM

Anthem

$275.59

-4.93 (-1.76%)

, CNC

Centene

$127.55

-5.3 (-3.99%)

13:16
12/16/18
12/16
13:16
12/16/18
13:16
Periodicals
Health stocks preparing for market jolt after Obamacare ruling, Bloomberg says »

U.S. health-care stocks…

ANTM

Anthem

$275.59

-4.93 (-1.76%)

CNC

Centene

$127.55

-5.3 (-3.99%)

CI

Cigna

$205.34

-6.63 (-3.13%)

UNH

UnitedHealth

$265.06

-7.2 (-2.64%)

HUM

Humana

$300.41

-12.09 (-3.87%)

WCG

WellCare

$236.90

-7.44 (-3.04%)

MOH

Molina Healthcare

$131.72

-11.19 (-7.83%)

HNT

Health Net

$0.00

(0.00%)

AET

Aetna

$0.00

(0.00%)

03/08/13
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03/08/13
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03/06/13
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  • 10

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    Feb

JELD

Jeld-Wen

$14.27

-0.46 (-3.12%)

13:02
12/16/18
12/16
13:02
12/16/18
13:02
Hot Stocks
Jeld-Wen announces final ruling in Steves & Sons litigation, to appeal decision »

Jeld-Wen announced that…

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ATRA

Atara Biotherapeutics

$41.78

-0.74 (-1.74%)

12:55
12/16/18
12/16
12:55
12/16/18
12:55
Hot Stocks
Atara Biotherapeutics presents positive efficacy, safety results for EBV + LMS »

Atara Biotherapeutics…

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BGNE

BeiGene

$133.95

2.595 (1.98%)

12:41
12/16/18
12/16
12:41
12/16/18
12:41
Hot Stocks
BeiGene announces updated Phase 1A/1B data on tislelizumab »

BeiGene announced that…

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JELD

Jeld-Wen

$14.27

-0.46 (-3.12%)

12:35
12/16/18
12/16
12:35
12/16/18
12:35
Hot Stocks
Jeld-Wen ordered to divest Pennsylvania plant to restore competition »

Federal Judge Robert…

03/08/13
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BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

, RHHBY

Roche

$0.00

(0.00%)

04:55
12/16/18
12/16
04:55
12/16/18
04:55
Conference/Events
European Society for Medical Oncology (ESMO) to hold a conference »

ESMO Immuno-Oncology…

BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

RHHBY

Roche

$0.00

(0.00%)

CELG

Celgene

$68.20

-1.55 (-2.22%)

MRK

Merck

$76.50

-1.94 (-2.47%)

PFE

Pfizer

$43.84

-0.71 (-1.59%)

FLDM

Fluidigm

$7.79

-0.39 (-4.77%)

NEO

NeoGenomics

$13.25

-0.18 (-1.34%)

SGEN

Seattle Genetics

$60.46

-0.5 (-0.82%)

TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

IMV

IMV Inc

$5.65

-0.14 (-2.42%)

03/08/13
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  • 18

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    Mar

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    May

SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

, GOV

Government Properties

$7.68

-0.41 (-5.07%)

17:08
12/15/18
12/15
17:08
12/15/18
17:08
Conference/Events
Select Income REIT to host special shareholder meeting »

Special Shareholder…

SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

GOV

Government Properties

$7.68

-0.41 (-5.07%)

03/08/13
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  • 20

    Dec

GOV

Government Properties

$7.68

-0.41 (-5.07%)

, SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

17:06
12/15/18
12/15
17:06
12/15/18
17:06
Conference/Events
Government Properties to host special shareholder meeting »

Special Shareholder…

GOV

Government Properties

$7.68

-0.41 (-5.07%)

SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

12:37
12/15/18
12/15
12:37
12/15/18
12:37
Periodicals
U.S. stocks could rally about 10% in 2019, Barron's says »

As U.S. stocks stumble…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

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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