  - $17.75
0.08 (0.45%) - 08/29/18
- BARD
08/29/18
NO CHANGETarget $27
BARD
Outperform Under Armour selloff on Dick's 'head fake' a buying opportunity, says Baird Baird analyst Jonathan Komp noted that while Dick's Sporting Goods (DKS) reported its own "disappointing" earnings, the company called out continued sales challenges for Under Armour (UAA), which it attributed to expanded distribution. He believes current sporting goods disruption for Under Armour is already reflected in the company's 2018 earnings guidance and also believes other mid-tier channels have continued to show strong sales performance, pointing out that Kohl's (KSS) saw Under Armour accelerate in Q2. Komp, who views the selloff on Dick's comments a "compelling buying opportunity," keeps an Outperform rating and $27 price target on Under Armour Class A shares. - 08/16/18
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. ARGUS SAYS BUY LULULEMON: Argus analyst John Staszak upgraded Lululemon (LULU) to Buy from Hold with a price target of $150, citing the company's Q1 earnings beat and expectations of improved comps in Q2, along with its "substantial" growth opportunities to expand its brand overseas and particularly in China. Staszak contends that Lululemon's growth prospects are "among the best in the apparel sector," with a transition to higher margin e-commerce sales seen expanding its operating margins in the coming several years. The analyst further notes that his implied price target valuation multiple of 44-times forward earnings is within the multiple range of companies like Nike (NKE), Under Armour (UA), and VF Corp. (VFC) and justified by its rapid e-commerce adoption and strong overall growth. KIMBERLY-CLARK RAISED AFTER PRICE HIKES: JPMorgan analyst Andrea Teixeira upgraded shares of Kimberly-Clark (KMB) to Neutral from Underweight and raised her price target to $114 from $90 following yesterday's announcement that the company will increase prices or reduce package counts on key products in North America. The analyst notes that while it remains to be seen if the price increases will "actually hold" given the intensely competitive U.S. market, she believes investors will give Kimberly-Clark shares the benefit of the doubt. Additionally, she tells investors that Procter & Gamble's (PG) commentary that it plans to raise prices on some of its premium paper products and diapers is "supportive" of Kimberly-Clark's ability to pass on higher prices. COTY CUT TWO NOTCHES AT MERRILL: BofA Merrill Lynch analyst Olivia Tong double downgraded Coty to Underperform from Buy and cut its price target to $10 from $16. Tong said Coty is now more exposed to the mass beauty market following its merger with 41 brands from PG Beauty and is seeing disruption from smaller, niche brands and newer distribution channels. ACTIVISION PULLBACK SEEN AS OPPORTUNITY: 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 notes administrators are already implementing a fast-track approval process to alleviate the problem. Activision Blizzard (ATVI) 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 shares. - 08/16/18
- ARGS
08/16/18
UPGRADETarget $150
ARGS
Buy Lululemon upgraded to Buy at Argus on international growth opportunity As reported earlier, Argus analyst John Staszak upgraded Lululemon (LULU) to Buy from Hold with a price target of $150 while also raising his FY19 EPS outlook to $3.40 from $3.21. The analyst cites the company's Q1 earnings beat and expectations of improved comps in Q2, along with its "substantial" growth opportunities to expand its brand overseas and particularly in China. Staszak contends that Lululemon's growth prospects are "among the best in the apparel sector", with transition to higher margin e-commerce sales expanding its operating margins in the coming several years. The analyst further notes that his implied price target valuation multiple of 44-times forward earnings is within the multiple range of companies like Nike (NKE), Under Armour (UA), and VF Corp (VFC) and justified by its rapid e-commerce adoption and strong overall growth. - 08/07/18
- BARD
08/07/18
NO CHANGETarget $27
BARD
Outperform Under Armour designated as Fresh Pick at Baird Baird analyst Jonathan Komp designated Under Armour shares as a Fresh Pick citing its recent pullback and stabilizing fundamentals, both which he sees supporting a good second half setup. Komp reiterated his Outperform rating and $27 price target on Under Armour shares. - $19.26
0.16 (0.84%) - 08/01/18
- MSCO
08/01/18
INITIATIONTarget $20
MSCO
Equal Weight Under Armour initiated with an Equal Weight at Morgan Stanley Morgan Stanley analyst Lauren Cassel initiated Under Armour with an Equal Weight and $20 price target citing rich valuation. - $85.10
1.85 (2.22%) - 09/18/18
- ADAM
09/18/18
NO CHANGETarget $95
ADAM
Buy Survey shows overwhelming support for Nike's Kapernick ad, says Canaccord Canaccord analyst Camilo Lyon conducted a proprietary survey to assess the impact of Nike's "Just Do It" ad featuring former NFL quarterback Colin Kapernick. The findings suggest the impact was overall positive and he expects the company to confirm that when it reports Q1 results next week. He believes the ad has had the intended effect of positively skewing the company's brand perception and likely provided a bump in sales. Lyon reiterated his Buy rating and $95 price target on Nike shares. - 09/18/18
- NEED
09/18/18
NO CHANGENEED
Hold Nike positioned for 'solid' Q1, says Needham Needham analyst Rick Patel is keeping his Hold rating on Nike ahead of its Q1 earnings next week based on its "premium valuation", even though he expects the company to post "solid results". The analyst cites his proprietary domestic checks suggesting "sequential improvement in promos and average selling prices". Patel also points to a favorable Q2 read-through from other athletic apparel names in the quarter, along with the "lean" inventory of Nike's wholesale customers. The analyst further anticipates outperformance in Nike's international segment based on its "strong brand and product momentum". - 09/18/18
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 ESTIMATES, PRICE TARGET ON FACEBOOK: JPMorgan analyst Doug Anmuth lowered his 2019 and 2020 earnings estimates for Facebook (FB) by 5%-6% on the company's bigger investment increases over the next couple years, which he does not believe are fully captured in consensus estimates. Even with Facebook suggesting it could reach mid-30% operating margins in a few or several years, investments in 2019 could be larger than anticipated in consensus estimates, Anmuth said. The analyst also cut his price target for the shares to $195 from $205. However, he kept an Overweight rating on Facebook. PIVOTAL CUTS DISCOVERY TO SELL: Pivotal Research analyst Brian Wieser downgraded Discovery (DISCA) to Sell with an unchanged price target of $26. Despite "tepid" earnings and "underwhelming" longer-term trends, the stock is up 20% over the past month, Wieser noted. While Discovery's agreements with Hulu and Sling are positive, they do not meaningfully alter the company's fundamentals, the analyst added. His price target implies 19% downside from current share levels. MIZUHO BOOSTS AMD PRICE TARGET: Mizuho analyst Vijay Rakesh raised his price target for AMD (AMD) to $36 from $20 after meeting PC supply chain companies in Asia. AMD's expected server EPYC shipment spike in Q4 will be key, as Intel (INTC) continues to lack a CEO and a competitive technology response to AMD's 12nm Ryzen and 7nm Vega launch, Rakesh said. The analyst, who admits there could be "near-term bumps," kept a Buy rating on shares of AMD. CANACCORD SAYS KAPERNICK AD HAS 'OVERWHELMING' SUPPORT: Canaccord analyst Camilo Lyon conducted a proprietary survey to assess the impact of Nike's (NKE) "Just Do It" ad featuring former NFL quarterback Colin Kapernick. The findings suggest the impact was overall positive and he expects the company to confirm that when it reports Q1 results next week. He believes the ad has had the intended effect of positively skewing the company's brand perception and likely provided a bump in sales. Lyon reiterated his Buy rating and $95 price target on Nike shares. PIPER, WILLIAM BLAIR DEFEND NUTANIX: Nutanix (NTNX) shares dropped 11.5% Monday due to an article from The Information citing a potential competitive hyperconverged infrastructure offering from Google (GOOG, GOOGL), but Piper Jaffray analyst Andrew Nowinski views the selling pressure as "excessive" and reiterates an Overweight rating on Nutanix with a $66 price target. William Blair analyst Jason Ader called the fear of competition from Google "overblown" and reiterated an Outperform rating on Nutanix. - 09/17/18
- PIPR
09/17/18
NO CHANGETarget $93
PIPR
Overweight Piper remains positive on Nike shares ahead of Q1 results Piper Jaffray analyst Erinn Murphy remains positive on shares of Nike ahead of the company's fiscal Q1 results on September 25. The analyst sees upside to her Q1 sales and gross margin estimates, driven by "solid" domestic demand, strength in China and "on-going traction" in Europe. While currencies have been more volatile, upside on a constant currency basis and a strengthening fundamental backdrop should still support earnings and the stock moving higher over the near- to medium-term, Murphy tells investors in a pre-earnings research note. Further, the analyst's checks indicate Nike outperformed peer promotional levels and inventory management during back-to-school. She keeps an Overweight rating on the shares with a $93 price target. - $0.00
(0.00%) - 08/23/18
- STFL
08/23/18
NO CHANGETarget $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. - 08/10/18
- MSCO
08/10/18
NO CHANGEMSCO
Overweight North American deceleration for Adidas a positive for Nike, says Morgan Stanley Morgan Stanley analyst Lauren Cassel noted that Adidas (ADDYY), which is covered by Ed Aubin and Elena Mariani, reported North American revenue growth that was strong on an absolute basis but showed some deceleration on a 1- and 2-year basis. While she expects Adidas' North American revenue growth to continue to outpace Nike (NKE), she said the top-line deceleration is a positive for Nike. Cassel keeps an Overweight rating on Nike while noting that her peers at the firm maintain an Equal Weight rating on Adidas. - 07/19/18
- JEFF
Jefferies says Under Armour discounts down four straight months, buy shares Jefferies analyst Randal Konik says July webscrapes illustrate that Under Armour's (UAA) percentage of product on discount is down for the fourth month in a row, while Adidas's (ADDYY) is up five months in a row. The analyst's visits to Finish Line (FINL), Foot Locker (FL), and Under Armour websites reveal the HOVR and Curry 5 sneakers are sold out in many sizes/colors, indicating "strong sell-through." Further, Nike (NKE) continues to regain share from Adidas in running across the U.S., with strength in Air VaporMax and Air Max 270, Konik tells investors in a research note titled "SNEAKER WARS: UAA HOVRing Above The Rest. Buy This Stock." He believes the data are encouraging and reinforce his belief in the upside potential for Under Armour shares. - 07/17/18
- WELS
07/17/18
DOWNGRADEWELS
Market Perform Adidas downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo analyst Tom Nikic downgraded Adidas (ADDYY) to Market Perform as he believes the tides have shifted in the athletic sector, which will slow the company's top- and bottom-line growth and limit upside potential to the shares. The analyst has become more cautious on the stock as Adidas is facing a two-pronged attack from their competitors globally, with Nike (NKE) gaining steam on the higher end of the sneaker market and Vans currently the "hot brand" in the $60-$100 price range. While Adidas has introduced new platforms to try to offset the maturing styles, results for silhouettes such as Prophere, Deerupt, Arkyn and Continental have been mixed, he contends, adding that the company's surprisingly-rapid deceleration in Western Europe presents risk to the North American market share thesis, as Europe has been a leading indicator for the brand over the years. Nikic sees near-term risk to estimates, as he thinks Q2 consensus EPS does not adequately account for the marketing investment around the World Cup, plus there's the fact that a Nike-sponsored team won the World Cup and the company will be lapping pre-World Cup sell-in beginning in Q4. - $27.88
0.37 (1.35%) - 07/26/18
- ARGS
07/26/18
DOWNGRADEARGS
Hold Skechers downgraded to Hold at Argus after disappointing Q2 and Q3 view As reported earlier, Argus analyst John Staszak downgraded Skechers to Hold from Buy, citing the company's Q2 earnings miss, as well as its reduced revenue growth outlook and "only a marginal" gross margin expansion in Q3. The analyst anticipates the company's increased investment in direct-to-consumer and international business to weigh on the operating margins over the next few quarters, even as the demand for its products is still seen as "solid'. - 07/26/18
On The Fly: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Facebook (FB) downgraded to Outperform from Strong Buy at Raymond James and to Neutral from Buy at Nomura Instinet and UBS. 2. e.l.f. Beauty (ELF) downgraded to Perform from Outperform at Oppenheimer with analyst Rupesh Parikh saying the bull case is more uncertain from here. 3. 3D Systems (DDD) downgraded to Underweight from Neutral at Piper Jaffray with analyst Troy Jensen saying a survey of resellers found that system demand downticked sequentially for 3D Systems with more below plan responses versus above plan. 4. Owens Corning (OC) downgraded to Neutral from Buy at BofA/Merrill with analyst John Lovallo citing disappointing Q2 results. 5. Skechers (SKX) downgraded to Hold from Buy at Argus with analyst John Staszak citing the company's Q2 earnings miss, as well as its reduced revenue growth outlook, and "only a marginal" gross margin expansion in Q3. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. - 08/01/18
- MSCO
08/01/18
INITIATIONTarget $28
MSCO
Equal Weight Skechers initiated with an Equal Weight at Morgan Stanley Morgan Stanley analyst Lauren Cassel initiated Skechers with an Equal Weight and $28 price target saying she is bullish on long-term topline gorwht, but cautious on margins and profitability. Cassel recommends staying on the sidelines until there consistent execution and operating income growth. - 07/26/18
- ARGS
07/26/18
DOWNGRADEARGS
Hold Skechers downgraded to Hold from Buy at Argus |