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JD

JD.com

$31.29

0.3 (0.97%)

, NKE

Nike

$82.18

0.975 (1.20%)

19:31
09/03/18
09/03
19:31
09/03/18
19:31

On The Fly: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. JD.com (JD) CEO Liu Qiangdong was arrested Friday in Minnesota on suspicion of sexual misconduct but then released, according to the official website of the Hennepin County Sheriff's Office. Responding to "rumors," the company issued a statement on Weibo saying, "During a business trip to the United States, Mr. Liu was questioned by police in Minnesota in relation to an unsubstantiated accusation. The local police quickly determined there was no substance to the claim against Mr. Liu, and he was subsequently able to resume his business activities as originally planned." According to the Wall Street Journal, Liu earlier this year tried to keep his name out of a criminal case in Australia where a man was accused of sexually assaulting a woman he had met at a party at the CEO's Sydney home in 2015. Liu wasn't accused of wrongdoing, the Journal added. 2. Former NFL quarterback Colin Kaepernick, who sparked controversy by kneeling during the national anthem to protest racial injustice, will be the face of a Nike (NKE) ad campaign for the 30th anniversary of its "Just Do It" motto, according to ESPN. 3. The tech sector is about to get smaller, which could be good news for tech investors as some prominent companies will migrate out of the information-technology and consumer-discretionary sectors and into a new communication-services sector, Ben Levisohn wrote in this week's edition of Barron's. Alphabet (GOOG; GOOGL) and Facebook (FB) are among those making the switch, the report added. While the changes being made to the Global Industry Classification Standard, or GICS, system seem purely semantic, they do have the potential to create short-term noise, creating opportunities for investors prepared for the shifts, Levisohn noted. 4. AT&T (T) subsidiary Warner Bros' "Crazy Rich Asians" led this weekend's box office once again with $28M in its third outing, to boast the best gross for the long holiday weekend in over a decade and the third best of all time, not adjusted for inflation. "Crazy Rich Asians" earned an A CinemaScore and sports a 92% Rotten Tomatoes score. 5. Salesforce (CRM), Kansas City Southern (KSU), and Best Buy (BBY) saw positive mentions in Barron's.

JD

JD.com

$31.29

0.3 (0.97%)

NKE

Nike

$82.18

0.975 (1.20%)

GOOG

Alphabet

$1,217.75

-21.35 (-1.72%)

GOOGL

Alphabet Class A

$1,231.66

-22.61 (-1.80%)

FB

Facebook

$175.66

-1.99 (-1.12%)

T

AT&T

$31.92

-0.04 (-0.13%)

CRM

Salesforce

$152.61

0.51 (0.34%)

KSU

Kansas City Southern

$115.96

0.02 (0.02%)

BBY

Best Buy

$79.56

1.54 (1.97%)

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JD JD.com
$31.29

0.3 (0.97%)

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.
08/14/18
MKMP
08/14/18
NO CHANGE
Target $51
MKMP
Buy
JD.com has 'improving event path' and 'low valuation', says MKM Partners
MKM Partners analyst Rob Sanderson kept his Buy rating and $51 price target on JD.com (JD) ahead of its Q2 earnings this week, saying that while consensus expectations suggest concern with whether net margins can achieve the 0.9%, more bullish investors can be rewarded beyond this quarter. The analyst further notes that the loss of market share to Alibaba (BABA), along with China macro trade concerns, have weighed on the stock, but its "all-time low" valuation is compelling, and even a partial recovery in performance could yield a sizable move in the stock price.
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.
08/17/18
KEYB
08/17/18
NO CHANGE
Target $43
KEYB
Overweight
JD.com price target cut to $43 from $51 at KeyBanc
KeyBanc analyst Hans Chung lowered his price target for JD.com to $43 from $51, telling investors in a research note that he remains a buyer following the company's quarterly results. While he sees y/y improvement in core JD Mall operating margin, investment in new business initiatives is likely to continue to pressure overall margin this year, he tells investors in a research note.
NKE Nike
$82.18

0.975 (1.20%)

08/23/18
STFL
08/23/18
NO CHANGE
Target $90
STFL
Buy
Nike brand styles 'popular' in retail checks for back-to-school, says Stifel
Stifel analyst Jim Duffy said his firm's annual back-to-school athletic footwear survey is showing Nike (NKE) brand styles referenced as the most popular choice in 67% of retail checks. While Nike's popularity was "stable" y/y, Duffy says his checks show breadth of strength across styles, a favorable mix to higher ASP styles, momentum from new offerings, and tight inventories with key channel partners. Further, the analyst says checks show a "lack of newness' from rival adidas (ADDYY) and lost momentum while Vans and other brand references increased. Ahead of Nike's Q1 earnings in September, Duffy maintains a Buy rating and $90 price target, adding that he has increased confidence in Nike's North America fundamentals and margins.
08/20/18
08/20/18
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. JPMORGAN CUTS TESLA PRICE TARGET: JPMorgan analyst Ryan Brinkman reduced his price target on Underweight-rated Tesla (TSLA) back to $195 from $308, telling investors that he is reverting back to valuing shares on the basis of fundamentals alone. While Brinkman said that Tesla "does appear to be exploring a going private transaction," he believes that such a process appears "much less developed" than he had earlier presumed and is "more along the lines of high level intention," suggesting formal incorporation into his valuation analysis "seems premature." NIKE UPGRADED AT TWO FIRMS: Piper Jaffray analyst Erinn Murphy upgraded Nike (NKE) to Overweight from Neutral and raised her price target for shares to $93 from $72, telling investors she believes the risk profile of owning Nike shares has "considerably diminished" and sees Nike moving from downward EPS revisions to upward revisions supported by a stabilizing North America landscape, strong margin and sales drivers and improving brand momentum. Susquehanna analyst Sam Poser upgraded Nike to Positive from Neutral. The analyst cited its market share gains, and gains within the family footwear channel specifically, due to improved product offerings and product flow. He raised his price target to $93 from $78 on Nike shares. QUALCOMM UPGRADED TO BUY: Rosenblatt analyst Jun Zhang upgraded Qualcomm (QCOM) to Buy from Neutral and increased its price target to $70 from $57 citing benefits from 5G smartphone growth over the next few years, Zhang said Qualcomm's 5G RF module is better positioned than their 4G product and should continue to gain share in the high-end market due to MediaTek's smartphone chipset roadmap losing traction. BLOOM ENERGY INITIATIONS ALL OVER MAP: Morgan Stanley analyst Stephen Byrd started Bloom Energy (BE) with an Overweight rating and $30 price target, calling the company "a true disruptor" that is revolutionizing on-site power with its natural gas fuel cell systems. Credit Suisse analyst Michael Weinstein started Bloom Energy with a Neutral rating and $24 price target. After a nearly 80% jump off the $15 IPO, the analyst believes that current pricing captures a fair balance between the risk of executing continued cost reductions and the possible upside from accelerating sales growth once the investment tax credit sunsets in 2023. BofA/Merrill analyst Julien Dumouln-Smith initiated Bloom Energy with an Underperform and $19 price target citing high expectations and execution risks over costs and deployment.
08/27/18
DBAB
08/27/18
NO CHANGE
DBAB
Buy
Foot Locker sold off on 'big picture narrative,' says Deutsche Bank
Deutsche Bank analyst Paul Trussell says that while Foot Locker's (FL) Q2 results "checked boxes," the shares sold off on the "big picture narrative." Foot Locker "showcased solid execution" in the quarter, especially in Europe where comps accelerated meaningfully, Trussell tells investors in a post-earnings research note. However, concerns around Nike's (NKE) direct-to-consumer push and long-term margin pressure from ongoing digital investments were not alleviated on Foot Locker's conference call, the analyst adds. Nonetheless, Trussell keeps a Buy rating on Foot Locker.
08/30/18
PIPR
08/30/18
NO CHANGE
Target $93
PIPR
Overweight
Piper uncovers accelerating brand momentum for Nike
Following a recent analysis on the value derived in the secondary market for the top sneaker brands, Piper Jaffray analyst Erinn Murphy says Nike's brand momentum is accelerating. The analyst believes upward revisions to estimates are likely and she keeps an Overweight rating on the shares with a $93 price target. Through Q2, Nike and brand Jordan combined carry 66% of market share within top-ten sneakers on a trailing 12 months basis, a "strong acceleration" from the 29% trough in Q4 of 2017, Murphy tells investors in a research note.
GOOG Alphabet
$1,217.75

-21.35 (-1.72%)

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.
08/09/18
STFL
08/09/18
DOWNGRADE
Target $2150
STFL
Hold
Booking Holdings downgraded to Hold on slowing growth at Stifel
As previously reported, Stifel analyst Scott Devitt downgraded Booking Holdings (BKNG) to Hold from Buy, citing the slowing growth at the company-formerly-known-as Priceline. Devitt lowered his core bookings growth expectations in 2018 and beyond following the company's Q2 earnings report and cut his price target on Booking shares to $2,150 from $2,332. He sees better large cap opportunities at company's with similar earnings multiples and better growth, such as Alibaba (BABA), Alphabet (GOOGL) and Facebook (FB), Devitt added.
08/29/18
MSCO
08/29/18
NO CHANGE
Target $1515
MSCO
Overweight
Alphabet price target raised to $1,515 from $1,325 at Morgan Stanley
Morgan Stanley analyst Brian Nowak raised his price target on shares of Alphabet to $1,515 from $1,325 citing the continued strong fundamentals in its core Google business as well as the growing visibility into its Waymo business. Nowak believes the current valuation of Alphabet ascribes little value for Waymo, but he also thinks the launch of Waymo's ride-hailing service by year-end can be a catalyst to realize that value. He currently values Waymo at $45B, or about $60 per Alphabet share, but notes this is only 25% of the $175B potential value he ascribes to the business. Nowak, who raised his 2018 and 2019 adjusted EBITDA estimates by 2%, keeps an Overweight rating on Alphabet shares.
08/07/18
08/07/18
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. BOFA CUTS ZILLOW TO NEUTRAL: BofA Merrill Lynch analyst Nat Schindler downgraded Zillow (Z, ZG) to Neutral from Buy and cut its price target to $60 from $70 following the Q2 report and reduction in guidance. Schindler said the quarter indicated Zillow is taking longer than expected to ramp up the Homes business, Rentals revenue missed and the outlook was cut, and other revenue also missed, indicating the new construction opportunity is also taking longer to materialize. Zillow Class A shares are down about 17% in late morning trading. MORGAN STANLEY SAYS WAYMO COULD BE WORTH $175B: Morgan Stanley analyst Brian Nowak increased his enterprise value estimate for Alphabet's (GOOG, GOOGL) Waymo unit from $75B for ride sharing only to $175B given his analyses for two other emerging business models, 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. 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. GOLDMAN RAISES NVIDIA TARGET AHEAD OF EARNINGS: Goldman Sachs analyst Toshiya Hari raised his price target for Nvidia (NVDA) to $324 from $310 ahead of quarterly results. Unlike the past 10 quarters where the company handily beat Street estimates and raised guidance, the analyst expects a "noisy" quarter with the focal points being the upcoming product transition in Gaming, the current product transition in Datacenter, weakness in cryptocurrency mining, and potential disruption from the virus attack at TSMC (TSM). That said, Hari noted that his long-term bull thesis on Nvidia remains intact and reiterated a Buy rating on the shares. ARGUS CUTS CBS TO HOLD: Argus analyst Joseph Bonner downgraded CBS (CBS) to Hold from Buy, noting significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIA, VIAB) merger. Bonner noted that if the Moonves allegations are proven true, he would be immediately dismissed, which could end the board's bid to remain independent and thereby inflict damage on the shareholders.
GOOGL Alphabet Class A
$1,231.66

-22.61 (-1.80%)

08/29/18
08/29/18
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. MORGAN STANLEY RAISES ALPHABET, AMAZON TARGETS: Morgan Stanley analyst Brian Nowak raised his price target on shares of Alphabet (GOOGL) to $1,515 from $1,325 citing the continued strong fundamentals in its core Google business as well as the growing visibility into its Waymo business. Nowak, who raised his 2018 and 2019 adjusted EBITDA estimates by 2%, kept an Overweight rating on Alphabet shares. Additionally, Nowak expressed increasing confidence that Amazon's (AMZN) rapidly growing, high margin revenue streams will drive higher profitability and continue to push up consensus estimates. He has not made any changes to his estimates, but raised his price target on Amazon shares to $2,500 from $1,850 to reflect its improving business mix and his belief that the new target more accurately represents the company's long-term potential earnings power. He maintained an Overweight rating on Amazon shares. FERRARI UPGRADED TO BUY: HSBC analyst Giulio Pescatore upgraded Ferrari (RACE) to Buy and raised his price target for the shares to EUR 133 from EUR 114. The recent selloff on the CEO's comments regarding Sergio Marchionne's 2022 targets has provided an attractive entry point, Pescatore said. The analyst believes Ferrari's pipeline remains strong. ROYAL CARIBBEAN UPGRADED TO BUY: Deutsche Bank analyst Chris Woronka upgraded Royal Caribbean Cruises (RCL) to Buy and raised his price target for the shares to $146 from $135. The analyst finds the stock's valuation as "undemanding" at current share levels. Further, he sees the potential for more inflows into cruise stocks for the balance of 2018 as comps get tougher across sectors like lodging, retail, and Macau, but "relatively easier" for Royal Caribbean. JEFFERIES RAISES TARGET ON PAYPAL: Jefferies analyst John Hecht raised his price target for PayPal (PYPL) to $110 from $100 saying the company's growth story is more than just Venmo. While Venmo is an important growth driver, PayPal's core person-to-person business and mobile trends, which have been "impressive," should be followed more closely alongside the Venmo success, Hecht said. The analyst's updated analysis supports his belief that the eBay (EBAY) migration should be "very manageable" for PayPal. Further, his analysis of app downloads shows PayPal platforms "remain competitive." Hecht reiterated a Buy rating on the shares.
08/22/18
MKMP
08/22/18
NO CHANGE
Target $1465
MKMP
Buy
Alphabet price target raised to $1,465 from $1,355 at MKM Partners
MKM Partners analyst Rob Sanderson raised his price target on Alphabet to $1,465 from $1,355 and kept his Buy rating, saying his revision removes the $5.1B E.U. fine while rolling out the valuation to 2021 in his model. Sanderson states that he remains impressed with Alphabet's "consistent growth at increasingly large revenue levels" and believes that the company's traffic acquisition costs could slow after a drag on earnings over a period of about 3 years, boosting its margins. The analyst adds that while Waymo has "negligible" near-term implications, its long-term potential is "tremendous".
FB Facebook
$175.66

-1.99 (-1.12%)

08/22/18
08/22/18
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. SIDOTI UPGRADES SYSTEMAX TO BUY: Sidoti analyst Anthony Lebiedzinski upgraded Systemax (SYX) to Buy from Neutral. The analyst said the recent selloff in shares is overdone and maintained a $45 price target. Systemax shares are up 10.2% in morning trading. PIPER CUTS STARBUCKS TO NEUTRAL: Piper Jaffray analyst Nicole Miller Regan downgraded Starbucks (SBUX) last night to Neutral from Overweight and lowered her price target for the shares to $53 from $60. The motivation for the downgrade was another month of U.S. checks that suggested a lack of comp performance, Miller Regan said. The analyst believes shares of Starbucks will be "range bound at best" until U.S. trends improve. She sees issues around "inconsistent results, credibility of guidance, and management transitions." Miller Regan thinks the stock has "modest downside risk." MKM BOOSTS NETFLIX TARGET TO $395: MKM Partners analyst Rob Sanderson raised his price target for Netflix (NFLX) to $395 from $390 and kept a Buy rating on the shares after updating his estimates. The analyst said his "previous caution" on the shares is "now reversed" following the recent stock price correction. His subscriber ramp expectations are "somewhat lower" in the near-to-medium term but remain unchanged in the long-term. Netflix will approach full penetration of the U.S. over time, growing to 90M subscribers by 2025, Sanderson said. He continues to see over $40 per share in earnings power at 90M U.S. and 300M international subscribers, which he projected in the 2025 timeframe. Expectations for Netflix became "somewhat elevated, but have been appropriately moderated," Sanderson contended. He called the stock a "must-own for growth managers." BAIRD SAYS STAR WARS LICENSE ADDS VISIBILITY FOR ZYNGA: Baird analyst Colin Sebastian believes the Star Wars license announced adds some visibility to Zynga's (ZNGA) out-year growth targets. The new Disney (DIS) license is a positive development for Zynga for the longer-term given the popularity of the Star Wars franchise, Sebastian said. That said, he does not expect a material contribution from new titles until 2020. As such, Sebastian kept a Neutral rating on Zynga shares. Znga shares are up 7.6% in late morning trading. PIPER SAYS FACEBOOK USERS 'UNFAZED' BY ISSUES: Piper Jaffray analyst Michael Olson said his firm's survey of 1,300 Facebook (FB) and Instagram users leaves him confident that "most are unfazed by the negative news flow." The analyst kept an Overweight rating on Facebook shares with a $200 price target.
08/22/18
PIPR
08/22/18
NO CHANGE
Target $200
PIPR
Overweight
Piper survey shows most Facebook, Instagram users unfazed by recent issues
Piper Jaffray analyst Michael Olson says his firm's survey of 1,300 Facebook and Instagram users leaves him confident that "most are unfazed by the negative news flow." Facebook has had a rough year from a public relations perspective, with Cambridge Analytica, concern around "fake news" and privacy issues, Olson tells investors in a research note. However, the survey, which focused on usage of the services this year versus last year, found that the majority, or two-thirds, are using Facebook and Instagram the same or more versus last year, Olson writes. He believes the 21% pullback in Facebook shares since the July 25 close more than reflects issues surrounding Europe's new privacy laws as well as the rising cost of content security and screening. The analyst keeps an Overweight rating on Facebook shares with a $200 price target. The social media giant closed yesterday up 12c to $172.62.
08/29/18
KEYB
08/29/18
NO CHANGE
Target $215
KEYB
Overweight
Facebook shift to stories should strengthen platform, says KeyBanc
KeyBanc analyst Andy Hargreaves views Facebook's shift toward stories as a positive for the longer-term health of the platform and for the advertising opportunity. While the transition is likely to sacrifice short-term growth, the analyst believes it can improve engagement and broaden Facebook's attraction to brand advertisers. He reiterates an Overweight rating and a $215 price target on the shares.
08/30/18
MKMP
08/30/18
NO CHANGE
Target $43
MKMP
Buy
Twitter DAUs as 'monetizable' as Facebook's, says MKM Partners
MKM Partners analyst Rob Sanderson keeps his Buy rating and $43 price target on Twitter (TWTR), saying the latest quarter was a "healthy reset" as the company still offers a "great and differentiated content story". The analyst also believes that Twitter's Daily Active User count is "at least" as monetizable as that of Facebook (FB) and possibly more so over time, even though the company is currently spending its capital on network health. Sanderson adds that he still believes in the "potential for a mass-market Twitter one day", with the continued development of AI technology serving as a possible user experience break-through opportunity.
T AT&T
$31.92

-0.04 (-0.13%)

08/22/18
08/22/18
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. Starbucks (SBUX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Nicole Miller Regan citing another month of U.S. checks that suggest a lack of comp performance. 2. Public Storage (PSA) downgraded to Sell from Neutral at Goldman Sachs with analyst Andrew Rosivach saying he sees negative 2019 same store net operating income as likely. 3. AT&T (T) downgraded to Market Perform from Outperform at Wells Fargo with analyst Jennifer Fritzsche saying while she agrees with the longer term story of AT&T's strategic perspective, the stock will be range bound over the near-to-medium term. 4. Tiffany (TIF) downgraded to Neutral from Buy at BofA/Merrill with analyst Lorraine Hutchinson saying she remains positive on new management's strategy and high-single digit global sales growth target, but thinks share valuation prices in sales acceleration and upward estimate revisions. 5. Coty (COTY) downgraded to Hold from Buy at Societe Generale and to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/22/18
WELS
08/22/18
DOWNGRADE
Target $35
WELS
Market Perform
Wells Fargo sees AT&T shares as range bound, downgrades to Market Perform
Wells Fargo analyst Jennifer Fritzsche downgraded AT&T to Market Perform from Outperform and lowered her price target for the shares to $35 from $40. The analyst says that while she agrees with the longer term story of AT&T's strategic perspective, the stock will be range bound over the near-to-medium term. Fritzsche expects continued pressure on the company's entertainment margins and points out that enterprise stability is not yet seen. Further, AT&T has "many new balls to juggle (and invest in)" with Time Warner's assets, Fritzsche tells investors in a research note. She also believes achieving delevering targets "might push other priorities down the list." She thinks the company has to get a few full quarters under its belt with Time Warner integration before its longer term strategy gains more credibility with investors.
08/22/18
WELS
08/22/18
DOWNGRADE
WELS
Market Perform
AT&T downgraded to Market Perform from Outperform at Wells Fargo
08/28/18
LOOP
08/28/18
NO CHANGE
Target $14
LOOP
Hold
GameStop may see Q2 upside on 'robust' Best Buy console sales, says Loop Capital
Loop Capital analyst Anthony Chukumba keeps his Hold rating and $14 price target on GameStop (GME) ahead of its Q2 earnings next week, saying that "robust" sales of video game consoles and accessories at Best Buy (BBY) in the quarter is a "positive harbinger" for its results. The analyst expects investors to focus on GameStop's comps, title release slate for the second half of 2018, any update on its CEO search, and negotiations with financial sponsors and AT&T (T). Chukumba further states that while its 4.6-times current earnings multiple represents a "substantial discount to historical average levels", the valuation is appropriate given the "secular declines" in the company's core business.
CRM Salesforce
$152.61

0.51 (0.34%)

08/31/18
BMOC
08/31/18
NO CHANGE
Target $165
BMOC
Outperform
Salesforce billings hurt by seasonality, pipeline still solid, says BMO Capital
BMO Capital analyst Keith Bachman kept his Outperform rating and $165 price target on Salesforce after its Q2 results, saying the integration of its recent MuleSoft acquisition has helped to "boost" revenues with its $122M contribution, deferred revenues and margins. The analyst notes that the company's billings were slightly "disappointing", but sees its pipeline remaining solid and the issues as transitory beyond seasonality. Bachman recommends that investors continue to accumulate shares, taking advantage of any "near-term weakness".
08/30/18
08/30/18
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. GUGGENHEIM UPGRADES ARLO TO BUY: Guggenheim upgraded Arlo Technologies (ARLO) to Buy from Neutral and maintained a $26 price target. Analyst Robert Cihra said the recent pullback in shares offers a compelling buying opportunity and the company has a meaningful runway to keep growing. Arlo shares are up 4% in late morning trading. JPMORGAN UPGRADES NUTANIX TO NEUTRAL: JPMorgan analyst Mark Murphy upgraded Nutanix (NTNX) to Neutral from Underweight and raised his price target for the shares to $54 from $39. The analyst's latest round of Nutanix checks and his latest VMware (VMW) survey suggest a "strong demand environment" for hyperconverged infrastructure. Nutanix is the leader in this space, Murphy said. He expects to see a "strong healthy quarter" from Nutanix, especially in terms of bookings. Murphy believes the stock offers a balanced risk/reward at current share levels. BERENBERG INITIATES PAYPAL WITH A BUY: Berenberg analyst Tammy Qiu started PayPal (PYPL) with a Buy rating and $104 price target. Innovators such as PayPal will remain competitive versus new entrants to the payments sector, Qiu said. The analyst views PayPal as a core holding in the payment and fintech space "because it is well positioned to enable financial inclusion via its wide product range." In addition, its two-sided platform, which serves merchants and consumers, makes it unique, Qiu contended. SALESFORCE DEFENDED AFTER EARNINGS, PRICE TARGET RAISED AT MULTIPLE FIRMS: Piper Jaffray analyst Alex Zukin raised his price target for Salesforce (CRM) to $180 from $165, saying the company posted a solid start to the year, with all metrics coming in ahead of consensus in spite of meaningful currency headwinds during the quarter. The analyst recommends using the post-earnings selloff as an opportunity to buy the shares. He sees near-term catalysts from Dreamforce and the company's analyst day, as well as a "strong" federal budget flush in Q3 and the "best IT spending environment in history." Zukin reiterated an Overweight rating on Salesforce shares. Additionally, Jefferies analyst John DiFucci raised his price target for Salesforce to $172 from $168 citing the company's "solid" Q2 results which he says exceeded expectations across the board. The print, however, was perhaps not as strong as the last two quarters, the analyst adds. While billings guidance implies further moderation of new subscription annual contract value in the second half of fiscal 2019, this likely reflects management's "typically prudent approach to guidance," DiFucci contends. He recommends buying Salesforce on any weakness today and keeps a Buy rating on the shares. Salesforce is off earlier lows, and is currently trading down 1.4%.
08/30/18
RHCO
08/30/18
NO CHANGE
Target $170
RHCO
Buy
Salesforce price target raised to $170 from $146 at SunTrust
SunTrust analyst Terry Tillman raised his price target on Salesforce to $170 and kept his Buy rating after its reported Q2 saw "upside across every financial metric". The analyst notes that the company also raised its revenue guidance for the second half of FY19 in spite of the FX headwinds and also cites the management's positive view of operating environment as "one of the most buoyant technology investment cycles they have ever seen". Tillman expects the second half of FY19 to manifest the business strength and recommends that investors acquire the stock going into Salesforce's Dreamforce event catalyst in late September.
08/31/18
ARGS
08/31/18
NO CHANGE
Target $180
ARGS
Buy
Salesforce price target raised to $180 from $141 at Argus
Argus analyst Joseph Bonner raised his price target on Salesforce to $180 and kept his Buy rating after its "strong" Q2 results and raised FY guidance for the third time. The analyst notes that while investors were disappointing by next quarter's outlook and bid the shares down, he believes that the company is "well positioned" to exploit secular trends of "software as a service cloud solutions, data analytics, and platform software services". Bonner also raises his FY19 EPS view to $2.53 from $2.31, citing Salesforce's continued market share gains and cloud CRM space innovation.
KSU Kansas City Southern
$115.96

0.02 (0.02%)

08/28/18
LOOP
08/28/18
NO CHANGE
Target $140
LOOP
Buy
Kansas City Southern price target raised to $140 from $132 at Loop Capital
Loop Capital analyst Rick Paterson raised his price target on Kansas City Southern to $140 and kept his Buy rating, citing yesterday's progress in finalizing the U.S.-Mexico bilateral trade agreement. The analyst notes that while there are still "a lot of things" that can go wrong in the discussions and there is a "tight timeframe" for the deal to be enacted before the new Mexican president takes office in December, the worst case for the company - "no NAFTA and 20% or more in tariffs" - is much less likely. Paterson further states that in spite of yesterday's 4.7% rise in the stock price, Kansas City Southern remains the cheapest railroad stock in its peer group.
08/29/18
COWN
08/29/18
UPGRADE
COWN
Outperform
Kansas City Southern upgraded to Outperform from Market Perform at Cowen
08/29/18
COWN
08/29/18
UPGRADE
Target $138
COWN
Outperform
Kansas City Southern upgraded to Outperform on Mexican trade agreement at Cowen
As reported previously, Cowen analyst Jason Seidl upgraded Kansas City Southern to Outperform from Market Perform. The analyst cited the U.S.-Mexico trade agreement, noting that he views Kansas City as having the most exposure to Mexico. He said the shares appear poised to return to their pre-Trump multiple and he sees the company as well positioned to benefit from Mexican energy reform and chemical growth. Seidl raised his price target to $138 from $124 on Kansas City Southern shares.
08/29/18
08/29/18
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. Kansas City Southern (KSU) upgraded to Outperform from Market Perform at Cowen with analyst Jason Seidl citing the U.S.-Mexico trade agreement, noting that he views Kansas City as having the most exposure to Mexico. 2. Ferrari (RACE) upgraded to Buy from Hold at HSBC with analyst Giulio Pescatore saying the recent selloff on the CEO's comments regarding Sergio Marchionne's 2022 targets has provided an attractive entry point. 3. Bank of Montreal (BMO) upgraded to Buy from Hold at Canaccord. 4. Marten Transport (MRTN) upgraded to Hold from Sell at Stifel with analyst David Ross citing valuation. 5. Royal Caribbean (RCL) upgraded to Buy from Hold at Deutsche Bank with analyst Chris Woronka 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.
BBY Best Buy
$79.56

1.54 (1.97%)

08/28/18
LOOP
08/28/18
NO CHANGE
Target $88
LOOP
Buy
Best Buy target raised to $88 on Q2 beat at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target for Best Buy to $88 from $85 citing this morning's better than expected Q2 results and guidance increase. The company "continued to impress" in Q2, and remains "extremely well positioned as consumer electronics become increasingly integrated into consumers' daily lives," Chukumba tells investors in a post-earnings research note. The analyst reiterates a Buy rating on the shares.
08/21/18
JEFF
08/21/18
NO CHANGE
Target $79
JEFF
Hold
Best Buy valuation 'feels full,' says Jefferies
Jefferies analyst Jonathan Matuszewski assumed coverage of Best Buy (BBY) with a Hold rating and $79 price target, telling investors in a research note that Total Tech Support and In Home Advisor will help defend share loss to Amazon (AMZN), but that he'd like to see more progress before becoming constructive. The analyst also notes that "valuation feels full."
08/23/18
WEDB
08/23/18
NO CHANGE
Target $65
WEDB
Underperform
Best Buy price target raised to $65 from $48 at Wedbush
Wedbush analyst Michael Pachter raised his price target for Best Buy to $65 from $48 ahead of quarterly results. The analyst expects the company to reiterate its full year comp guidance, underscoring that it is up against a very difficult comparison this holiday. Pachter thinks comparisons become more difficult in FY20, coupled with few catalysts for growth. He reiterates an Underperform rating on the shares.

TODAY'S FREE FLY STORIES

MDT

Medtronic

$92.31

1.91 (2.11%)

20:48
11/20/18
11/20
20:48
11/20/18
20:48
Recommendations
Medtronic analyst commentary  »

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RDY

Dr. Reddy's

$36.48

1.19 (3.37%)

20:44
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11/20
20:44
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20:44
Hot Stocks
Dr. Reddy's announces favorable outcome in Buprenorphine and Naloxone litigation »

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SCCO

Southern Copper

$35.63

-1.615 (-4.34%)

20:30
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11/20
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20:30
Upgrade
Southern Copper rating change  »

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KBH

KB Home

$19.84

0.37 (1.90%)

20:17
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11/20
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Hot Stocks
KB Home expands into Seattle housing market »

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CLDR

Cloudera

$10.69

-0.545 (-4.85%)

20:16
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Hot Stocks
Cloudera partners with Bank Rakyat Indonesia »

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AAPL

Apple

$177.10

-8.7 (-4.68%)

19:44
11/20/18
11/20
19:44
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19:44
Periodicals
Apple acquires AI software firm Silk Labs, The Information reports »

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  • 04

    Dec

NVT

nVent Electric

$24.18

-0.35 (-1.43%)

19:20
11/20/18
11/20
19:20
11/20/18
19:20
Initiation
nVent Electric initiated at Vertical Research »

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  • 28

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FB

Facebook

$132.47

0.85 (0.65%)

19:13
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Periodicals
Russia's FAN sues Facebook, claims to be legitimate news outlet, Reuters says »

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  • 28

    Nov

CMCSA

Comcast

$36.75

-1.44 (-3.77%)

, CMCSK

Comcast

$0.00

(0.00%)

18:58
11/20/18
11/20
18:58
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18:58
Periodicals
Megyn Kelly seen to leave NBC News with entirety of $69M deal, WSJ says »

Megyn Kelly is…

CMCSA

Comcast

$36.75

-1.44 (-3.77%)

CMCSK

Comcast

$0.00

(0.00%)

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  • 03

    Dec

FL

Foot Locker

$46.10

-2.69 (-5.51%)

, ADSK

Autodesk

$122.99

-2.76 (-2.19%)

18:56
11/20/18
11/20
18:56
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18:56
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Foot…

FL

Foot Locker

$46.10

-2.69 (-5.51%)

ADSK

Autodesk

$122.99

-2.76 (-2.19%)

BJ

BJ's Wholesale

$19.85

-0.22 (-1.10%)

KEYS

Keysight Technologies

$54.35

-1.23 (-2.21%)

CPRT

Copart

$47.30

-1.255 (-2.58%)

VNET

21Vianet

$11.20

-0.1 (-0.88%)

GPS

Gap

$24.65

-0.79 (-3.11%)

BILI

Bilibili

$13.61

0.575 (4.41%)

DXCM

DexCom

$119.89

-1.34 (-1.11%)

03/08/13
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  • 20

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    Nov

  • 04

    Dec

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    Dec

  • 04

    Dec

  • 05

    Dec

  • 06

    Dec

  • 07

    Dec

  • 03

    Mar

AAPL

Apple

$177.10

-8.7 (-4.68%)

18:46
11/20/18
11/20
18:46
11/20/18
18:46
Periodicals
Apple in discussions to give vets access to electronic medical records, WSJ says »

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  • 04

    Dec

FB

Facebook

$132.47

0.85 (0.65%)

18:32
11/20/18
11/20
18:32
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18:32
Periodicals
Facebook ads system was down today for some users, Bloomberg says »

Facebook's…

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  • 28

    Nov

EMCI

EMC Insurance

$32.33

1.1 (3.52%)

18:28
11/20/18
11/20
18:28
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18:28
Hot Stocks
EMC Insurance announces receipt of proposal from EMCC to buy all of its shares »

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EEX

Emerald Expositions Events

$11.09

0.17 (1.56%)

18:26
11/20/18
11/20
18:26
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18:26
Hot Stocks
Emerald Expositions Events announces $20M share repurchase program »

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LIVN

LivaNova

$98.00

-22.28 (-18.52%)

18:26
11/20/18
11/20
18:26
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18:26
Recommendations
LivaNova analyst commentary at Piper Jaffray »

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  • 20

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BKH

Black Hills

$64.40

0.92 (1.45%)

18:24
11/20/18
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Hot Stocks
Black Hills Energy receives approval to construct $54M gas pipeline in Wyoming »

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GOOG

Alphabet

$1,026.00

7 (0.69%)

, GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

18:19
11/20/18
11/20
18:19
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18:19
Periodicals
Google expands Moffett Park presence again, SVBJ says »

Google is once again…

GOOG

Alphabet

$1,026.00

7 (0.69%)

GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

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  • 28

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SE

Sea Limited

$12.18

-0.52 (-4.09%)

18:04
11/20/18
11/20
18:04
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18:04
Earnings
Sea Limited reports Q3 net loss ($237.6M) vs. ($127.1M) last year »

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BILI

Bilibili

$13.61

0.575 (4.41%)

18:03
11/20/18
11/20
18:03
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18:03
Earnings
Bilibili reports Q3 revenue $157.1M, consensus $146.72M »

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  • 20

    Nov

LTM

Latam Airlines

$9.24

-0.4 (-4.15%)

18:01
11/20/18
11/20
18:01
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18:01
Hot Stocks
Breaking Hot Stocks news story on Latam Airlines »

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  • 21

    Nov

CE

Celanese

$100.26

-1.53 (-1.50%)

18:01
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18:01
Hot Stocks
Celanese increases Fortron polyphenylene sulphide price by 85c per kg »

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BA

Boeing

$317.77

-3.09 (-0.96%)

, TSLA

Tesla

$347.60

-5.88 (-1.66%)

17:55
11/20/18
11/20
17:55
11/20/18
17:55
Periodicals
NASA to investigate workplace culture at Boeing, SpaceX, Reuters says »

NASA said that it plans…

BA

Boeing

$317.77

-3.09 (-0.96%)

TSLA

Tesla

$347.60

-5.88 (-1.66%)

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  • 27

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PLWTY

Panalpina World Transport

$0.00

(0.00%)

17:52
11/20/18
11/20
17:52
11/20/18
17:52
Upgrade
Panalpina World Transport rating change at Goldman Sachs »

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VLKAY

Volkswagen

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

17:52
11/20/18
11/20
17:52
11/20/18
17:52
Hot Stocks
British Columbia sets path for 100% zero-emission vehicle sales by 2040 »

In a move aimed at…

VLKAY

Volkswagen

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$117.29

0.2 (0.17%)

F

Ford

$9.06

-0.19 (-2.05%)

HMC

Honda

$27.60

-0.46 (-1.64%)

GM

General Motors

$35.09

-0.58 (-1.63%)

FCAU

Fiat Chrysler

$15.83

-0.585 (-3.56%)

03/08/13
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  • 13

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SPY

SPDR S&P 500 ETF Trust

$264.12

-5.16 (-1.92%)

, SPX

S&P 500

$0.00

(0.00%)

17:45
11/20/18
11/20
17:45
11/20/18
17:45
General news
U.S says China has not changed its 'unfair' trade practices »

The Office of the United…

SPY

SPDR S&P 500 ETF Trust

$264.12

-5.16 (-1.92%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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