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WMT

Walmart

$90.24

-0.565 (-0.62%)

, JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

20:25
08/15/18
08/15
20:25
08/15/18
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Walmart (WMT), consensus $1.22... J. C. Penney (JCP), consensus (6c).

WMT

Walmart

$90.24

-0.565 (-0.62%)

JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

  • 16

    Aug

  • 16

    Aug

WMT Walmart
$90.24

-0.565 (-0.62%)

08/08/18
RHCO
08/08/18
DOWNGRADE
Target $12
RHCO
Hold
Hostess Brands downgraded to Hold at SunTrust on promotion headwinds
As reported earlier, SunTrust analyst William Chappell downgraded Hostess Brands to Hold from Buy and lowered his price target to $12 from $20 after a "weak" Q2 and lowered FY18 guidance. The analyst adds that the majority of the companies in his space have lowered 2018 guidance due to rising costs, but Hostess Brands' report also reduces his confidence in the company's forecasting ability and his expectations that growth can recover quickly. Chappell further cites the loss of promotional space and reduced inventory at Walmart (WMT) as a key headwind in the quarter.
08/08/18
RBCM
08/08/18
DOWNGRADE
Target $14
RBCM
Sector Perform
Hostess Brands cut to Sector Perform at RBC Capital on lower sales visibility
As reported earlier, RBC Capital analyst David Palmer downgraded Hostess Brands (TWNK) to Sector Perform from Outperform and lowered his price target to $14 from $18 after its Q2 earnings miss and reduced FY18 guidance. The analyst points to the company's lower visibility around the second-half of 2018 and 2019 organic sales and profit growth because of reduced promotional activity at Walmart (WMT), rising costs, slower category growth, and delayed Cloverhill acquisition synergies.
08/07/18
MSCO
08/07/18
NO CHANGE
Target $1325
MSCO
Overweight
Enterprise value of Alphabet's Waymo raised to $175B at Morgan Stanley
Morgan Stanley analyst Brian Nowak increased his enterprise value estimate for Alphabet's Waymo unit from $75B for ride sharing only to $175B given his analyses for two other emerging business models, namely logistics and licensing. He believes Waymo remains on track to launch an autonomous ride hailing service in Phoenix this year and believes this business could be worth about $80B over the long-term. Partnerships with Walmart (WMT), DDR (DDR) and Peterbilt speak to Waymo's logistics focus, said Nowak, who sees the company potentially having a $90B logistics business. Additionally, he sees a roughly $7B licensing opportunity, pointing to the company's FCA (FCAU) relationship as a model of how companies could pay a license fee to Waymo for its autonomous technology. Given his view of Waymo being a key part of Alphabet's long-term value, Nowak raised his sum of the parts valuation to $1,550 from $1,400. He has an Overweight rating and $1,325 price target on Alphabet shares.
08/03/18
UBSW
08/03/18
UPGRADE
Target $33
UBSW
Neutral
Synchrony upgraded to Neutral from Sell at UBS
UBS analyst Eric Wasserstrom upgraded Synchrony Financial (SYF) to Neutral and raised his price target for the shares to $33 from $32. Cost reductions and "significantly" greater expected share repurchases help offer the loss of the Walmart (WMT) portfolio next year, Wasserstrom tells investors in a research note. The analyst still sees an unclear outlook for Synchrony, but raised his estimates and says the valuation is now low enough for an upgrade to Neutral.
JCP J.C. Penney
$2.40

-0.24 (-9.09%)

05/23/18
MSCO
05/23/18
NO CHANGE
Target $99
MSCO
Overweight
TJX results 'more impressive than first meets the eye,' says Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger noted that Macy's (M), Kohl's (KSS) and J.C. Penney (JCP) chose to use a non-restated calendar when calculating 2018 comps for Q1, while TJX (TJX) "rightly" compared like-for-like weeks, or February 4-May 5 of this year versus February 5-May 6 of last year. When taking this into consideration, TJX's Q1 results are "more impressive than first meets the eye," contends Greenberger. She also noted that TJX management reiterated several times on the call the buying environment remains plentiful, refuting bear case concerns that improving department store sales are driving a lack of quality branded merchandise in the off-price market. Greenberger maintains an Overweight rating on TJX with a $99 price target.
05/22/18
PIPR
05/22/18
NO CHANGE
Target $3
PIPR
Neutral
J.C. Penney CEO departure increases near-term execution risk, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy is concerned around increased execution risk in the near-term at J.C. Penney (JCP) following this morning's announcement that Chairman and CEO, Marvin Ellison, is leaving to become President and CEO of Lowe's (LOW). The analyst believes this resignation coupled with inconsistent execution over the past year raises risk to the turnaround story. Murphy reiterates a Neutral rating and $3 price target on J.C. Penney's shares.
05/22/18
BARD
05/22/18
NO CHANGE
Target $110
BARD
Outperform
Baird calls new Lowe's CEO 'big win' for shareholders
The naming of former Home Depot (HD) executive vice president of U.S. Stores, and J.C. Penney (JCP) CEO, Marvin Ellison as Lowe's (LOW) new CEO represents a best-case scenario and "big win" for Lowe's shareholders, Baird analyst Peter Benedict tells investors in a research note. The analyst expects the company to benefit greatly from Ellison's "extensive experience and understanding of the business. Benedict thinks Ellison is "uniquely qualified" to be the next leader of Lowe's and reiterates an Outperform rating on the shares with a $110 price target. The stock in early trading is up 38c to $87.77 while J.C. Penny is down 11c to $2.39.
05/18/18
RILY
05/18/18
NO CHANGE
Target $3
RILY
Neutral
J.C. Penney price target lowered to $3 from $4 at B. Riley FBR
B. Riley FBR analyst Jeff Van Sinderen lowered his price target for J.C. Penney to $3 citing the sales, comp and EBITDA misses in Q1. The analyst keeps a Neutral rating on the shares.

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