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WMT

Walmart

$97.89

-0.74 (-0.75%)

, TCEHY

Tencent

$0.00

(0.00%)

13:01
08/18/18
08/18
13:01
08/18/18
13:01

Walmart, Flipkart announce completion of investment

Walmart (WMT) and Flipkart announced the closing of the agreements for Walmart to become the largest shareholder in the Flipkart. As Walmart scales in India, the company will continue to partner to create sustained economic growth across agriculture, food and retail. Future investments by Walmart will support national initiatives and will bring sustainable benefits in jobs creation, supporting small businesses, supporting farmers and supply chain development and reducing food waste. Flipkart's existing management team will continue to lead the business. Tencent Holdings (TCEHY) and Tiger Global Management will remain represented on the Flipkart board, in addition to independent board members, and will be joined by new members from Walmart. The board will work to maintain Flipkart's core values and entrepreneurial spirit, while ensuring it has strategic and competitive advantages. With the completion of the investment, Walmart now holds approximately 77% of Flipkart. The remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft (MSFT). Moving forward, Flipkart's financials will be reported as part of Walmart's International business segment. Walmart's investment includes $2B of new equity funding to help accelerate the growth of the Flipkart business. Both companies will retain their unique brands and operating structures in India. At the time the company disclosed the transaction, the estimated impact to FY19 EPS was a negative 25c-30c assuming the transaction closed mid-year. Consistent with guidance at the time of its second quarter earnings report, the company anticipates this level of EPS impact, prorated for today's close date. In FY20, Walmart continues to anticipate a headwind to EPS of around 60c.

WMT

Walmart

$97.89

-0.74 (-0.75%)

TCEHY

Tencent

$0.00

(0.00%)

MSFT

Microsoft

$107.58

-0.07 (-0.07%)

  • 04

    Sep

  • 12

    Sep

WMT Walmart
$97.89

-0.74 (-0.75%)

08/17/18
ARGS
08/17/18
NO CHANGE
Target $112
ARGS
Buy
Walmart price target raised to $112 from $100 at Argus
Argus analyst Chris Graja raised his price target on Walmart (WMT) to $112, citing the company's decade-best Q2 comps growth and a positive update on its e-commerce business, which grew by 40% in Q1. Graja also notes that online grocery sales were strong, as the department delivered its best comps growth in 9 years to retain its competitive position against Amazon's (AMZN) Whole Foods unit. The analyst keeps his Buy rating on Walmart and contends that the company is immune to the primary risk of "irrelevance" for retailers, stating that it plays an "important" role in the economy with its buying power and "logistical prowess".
08/17/18
RBCM
08/17/18
NO CHANGE
Target $102
RBCM
Sector Perform
Walmart price target raised to $102 from $90 at RBC Capital
RBC Capital analyst Scot Ciccarelli raised his price target on Walmart to $102 after its reported comps of 4.5% marked the biggest increase in 10 years. The analyst notes that while margins are declining from investments in pricing, labor, and technology - costs that will not go away soon - the spending can produce higher leverage. Ciccarelli keeps his Sector Perform rating on Walmart, saying the valuation multiple of 20-times expected EBIT seems expensive, but would look for an opportunity to become more constructive based on the company's improvements.
08/17/18
JPMS
08/17/18
NO CHANGE
Target $103
JPMS
Neutral
Walmart price target raised to $103 from $87 at JPMorgan
JPMorgan analyst Christopher Horves maintained a Neutral rating on Walmart but raised his price target to $103 after the company "shattered" expectations with its strong U.S. comp in over 10 years. In a research note to investors, Horvers says that several years of e-commerce initiatives are paying off, but likely at the expense of medium-term profits and that Walmart's large market share and mix in the lower-growth grocery category make the transition more difficult from a financial perspective.
08/17/18
MSCO
08/17/18
NO CHANGE
Target $98
MSCO
Equal Weight
Walmart price target raised to $98 from $93 at Morgan Stanley
Morgan Stanley analyst Simeon Gutman said the strength of Walmart (WMT) Q2 U.S. same-store sales shows the brand is reaching new customers and succeeding in new categories. He added that, perhaps, the comp strength is a sign that the company is reaching into Amazon's (AMZN) higher income consumer base and said the full year goal of 40% e-commerce growth now seems achievable. Following the report, Gutman increased his price target on Walmart shares to $98, though he maintains an Equal Weight rating, stating that he sees comps slowing to less than 2% as its greatest near-term risk.
TCEHY Tencent
$0.00

(0.00%)

08/16/18
JEFF
08/16/18
NO CHANGE
Target $90
JEFF
Buy
China approval freeze creates buying opportunity in Activision, says Jefferies
Jefferies analyst Timothy O'Shea said he views China having frozen mobile game approvals as a temporary problem and "mostly a non-issue" as only the monetization approval process has been frozen, not the content approval process, and he note administrators are already implementing a fast-track approval process to alleviate the problem. Activision Blizzard's (ATVI) upcoming Call of Duty mobile game was expected to launch in China this year, but O'Shea said this is a smaller game that is not in his estimates, adding that Tencent (TCEHY) gets 70% of the revenue under its deal for the game. Activision has a pipeline of new mobile games coming that he would still expect to launch in China over time and O'Shea sees the 15% pullback in the game maker's shares in the last month as a buying opportunity, he tells investors. He maintains a Buy rating and $90 price target on Activision Blizzard shares.
08/15/18
BNCH
08/15/18
NO CHANGE
Target $12
BNCH
Buy
Vipshop price target lowered to $12 from $19 at Benchmark
Benchmark analyst Fawne Jiang lowered her price target on Vipshop (VIPS) to $12 after the company reported soft Q2 results and gave Q3 guidance that indicated an organic revenue deceleration on top of a limited contribution from the Tencent (TCEHY) and JD.com (JD) channels. She believes Vipshop continues to face growth challenges due to increasing competition and changing industry dynamics in China, but keeps a Buy rating on the shares as she expects significant synergies to be unlocked from the Tencent and JD partnerships over the longer-term.
06/19/18
WELS
06/19/18
NO CHANGE
Target $53
WELS
Outperform
JD.com price target raised to $53 from $47 at Wells Fargo
Wells Fargo analyst Ken Sena raised his price target for JD.com (JD) to $53 from $47 after the company and Google (GOOG; GOOGL) announced that the latter will invest $550M in cash in JD.com as part of a strategic partnership. The analyst believes this partnership adds to JD's strong list of existing data and strategic partnerships with Tencent (TCEHY), Walmart (WMT), Baidu (BIDU), Qihoo 360 and Vipshop (VIPS). Sena reiterates an Outperform rating on JD.com shares.
06/13/18
NEED
06/13/18
INITIATION
Target $41
NEED
Buy
HUYA initiated with a Buy at Needham
Needham analyst Jinjin Qian initiated HUYA (HUYA) with a Buy rating and a price target of $41, citing the company's platform as a leader in live game streaming in China with 92.9M monthly active users. The analyst also points to "strong secular trends" in e-sports and live streaming, along with its close ties with YY (YY) and Tencent (TCEHY), supporting the company's position. Jinjin Qian calls HUYA a "solid" investment based on its "strong user metrics and scalable business model".
MSFT Microsoft
$107.58

-0.07 (-0.07%)

08/06/18
MSCO
08/06/18
NO CHANGE
MSCO
Boeing, Tesla, Nvidia make Morgan Stanley 'key man risk' list
Morgan Stanley equity strategist Mark Savino noted that about 12% of CEO jobs among S&P 500 companies turned over in 2017, noting that this was the highest level of CEO departures since before the financial crisis. The 59 stocks of S&P 500 companies that had CEOs depart in 2017 underperformed the market by 11% over the next 12 months, or since the departure for instances that were less than 12 months ago, noted Savino. In cooperation with the firm's U.S. analysts, Savino and his team identified the companies in each sector they believe face the greatest level of "key man risk," which includes: Boeing (BA), Tesla (TSLA), ADT Inc. (ADT), Moody's (MCO), TransUnion (TRU), Arista Networks (ANET), Church & Dwight (CHD), Coca-Cola (KO), Monster Beverage (MNST), Coupa Software (COUP), Salesforce (CRM), FireEye (FEYE), MongoDB (MDB), Microsoft (MSFT), New Relic (NEWR), XPO Logistics (XPO), Hilton (HLT), Las Vegas Sands (LVS), Best Buy (BBY), Ulta (ULTA), Aflac (AFL), Athene Holding (ATH), Lincoln National (LNC), Arthur J. Gallagher (AJG), Chubb (CB), Amazon.com (AMZN), Activision Blizzard (ATVI), Facebook (FB), Alphabet (GOOGL), Apple (AAPL), Terex (TEX), Cleveland-Cliffs (CLF), Freeport McMoRan (FCX), FleetCor (FLT), Global Payments (GPN), Square (SQ), Jazz Pharmaceuticals (JAZZ), Cheesecake Factory (CAKE), Broadcom (AVGO), Nvidia (NVDA), Chegg (CHGG), DXC Technology (DXC), Medidata (MDSO), Pluralsight (PS), RealPage (RP), Shopify (SHOP) and T-Mobile (TMUS).
08/03/18
BARD
08/03/18
NO CHANGE
Target $2100
BARD
Outperform
Amazon summit highlights long cloud growth runway, says Baird
After having attended the AWS Summit in Chicago this week, Baird analyst Colin Sebastian said his talks with several enterprise IT decision makers highlight Amazon's "clear advantage" in product breadth and go-to-market capabilities despite the fact that cloud services competition is "undoubtedly intensifying" from Microsoft's (MSFT) Azure and Alphabet's (GOOGL) Google Cloud Platform. Most large-scale enterprises are still in the early days of cloud migration, which bodes well for the long-term growth outlook for AWS along with Azure and Google Cloud, Sebastian concluded. He keeps an Outperform rating and $2,100 price target on Amazon shares.
07/27/18
OPCO
07/27/18
NO CHANGE
Target $120
OPCO
Outperform
Microsoft price target raised to $120 from $115 at Oppenheimer
Oppenheimer analyst Tim Horan raised his price target on Microsoft (MSFT) to $120 and maintained an Outperform rating, telling investors in a research note that he remains "bullish." With enterprises in the steepest part of the S-curve adoption cycle of cloud, over the next few quarters, he says he expects strong results from Azure which benefits from AWS (AMZN)/Google (GOOG, GOOGL) channel conflicts and also sees upside surprises in Gaming, Search, Dynamics, Hardware and strong operating leverage.
07/23/18
ARGS
07/23/18
NO CHANGE
Target $128
ARGS
Buy
Microsoft price target raised to $128 from $116 at Argus
Argus analyst Joseph Bonner raised his price target on Microsoft to $128 and kept his Buy rating after the company's "strong quarter" in Q4 and positive comments about FY19. The analyst believes the company is well positioned to grow its commercial revenue amid the accelerating digital transformation trend thanks to its "massive" user base and long-term relationships. Despite the run-up in the stock price, the analyst contends that Microsoft shares could move even higher as the company's commercial and public cloud business drive growth.

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ENB

Enbridge

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HENKY

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CAG

Conagra Brands

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0.34 (1.60%)

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UQM

UQM Technologies

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SNY

Sanofi

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RTN

Raytheon

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IBCP

Independent Bank

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Editas Medicine

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GOOG

Alphabet

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