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RAD

Rite Aid

$1.24

-0.025 (-1.98%)

, BK

BNY Mellon

$52.36

-0.9 (-1.69%)

07:30
09/25/18
09/25
07:30
09/25/18
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Monday in Rite Aid (RAD), BNY Mellon (BK), Huntsman (HUN), and Jabil Circuit (JBL).

RAD

Rite Aid

$1.24

-0.025 (-1.98%)

BK

BNY Mellon

$52.36

-0.9 (-1.69%)

HUN

Huntsman

$28.20

-0.73 (-2.52%)

JBL

Jabil

$30.08

0.22 (0.74%)

  • 25

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RAD Rite Aid
$1.24

-0.025 (-1.98%)

09/10/18
LOOP
09/10/18
NO CHANGE
Target $2
LOOP
Hold
Fred's sells pharmacy files to Walgreens for 'good valuation,' says Loop Capital
Loop Capital analyst Andrew Wolf noted that Fred's (FRED) announced that Walgreens (WBA) will acquire pharmacy prescription files and related pharmacy inventory of 185 Fred's stores located across 10 Southeastern states subject to regulatory approval. The deal values the prescript files at $165M, which the analyst views as a "good valuation" particularly since Walgreens will also acquire the associated pharmacy inventory for up to $36M. Wolf believes the strategic basis for Walgreens to pay this "solid" valuation for the prescription files from Fred's was fortified by its recent purchase of 1,932 Rite Aid (RAD) stores, many in the same Southeastern footprint as Fred's. The analyst reiterates a Hold rating and $2 price target on Fred's shares.
09/06/18
09/06/18
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. Rite Aid (RAD) reinstated with a Sell at Goldman Sachs. 2. Parker-Hannifin (PH) initiated with an Overweight at Barclays. 3. iRhythm (IRTC) initiated with a Buy at Chardan. 4. Sarepta (SRPT) initiated with an Outperform at Credit Suisse. 5. Xperi (XPER) initiated with a Buy at National Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/18
GSCO
09/06/18
INITIATION
Target $1
GSCO
Sell
Rite Aid reinstated with a Sell at Goldman Sachs
Goldman Sachs analyst Robert Jones reinstated Rite Aid (RAD) with a Sell and $1 price target following the merger termination with Albertsons. Jones said the now standalone company lacks necessary scale to effectively compete and negotiate with healthcare supply chain players.
08/16/18
DBAB
08/16/18
NO CHANGE
Target $1.6
DBAB
Hold
Rite Aid faces challenges ahead as standalone business, says Deutsche Bank
Deutsche Bank analyst Glen Santangelo maintained a Hold rating on Rite Aid but cut his price target to $1.60 from $2.25 after re-evaluating the company as a standalone business following the termination of the merger agreement with Albertsons. In a research note to investors, the analyst says he believes the outlook will continue to be weighed down by the challenges facing the retail pharmacy industry such as declining volume and reimbursement pressure, and thinks that the fundamental challenges ahead for Rite Aid will make it difficult for the company to find a sustainable growth path on a standalone basis.
BK BNY Mellon
$52.36

-0.9 (-1.69%)

03/07/18
BOFA
03/07/18
UPGRADE
BOFA
Neutral
BNY Mellon upgraded to Neutral from Underperform at BofA/Merrill
03/07/18
03/07/18
UPGRADE
Target $58

Neutral
BNY Mellon upgraded to Neutral on balanced risk/reward at BofA/Merrill
As previously reported, BofA/Merrill upgraded BNY Mellon to Neutral from Underperform and raised tis price target to $58 from $54. Analyst Michael Carrier expects this week's investor Day to be a positive event, highlighting growth initiatives, cost efficiencies and capital management. Carrier views risk/reward as more balanced saying business trends are decent, but some headwinds remain.
03/12/18
GSCO
03/12/18
DOWNGRADE
Target $60
GSCO
Neutral
BNY Mellon downgraded to Neutral on valuation at Goldman Sachs
Goldman analyst Alexander Blostein downgraded BNY Mellon to Neutral from Buy citing valuation reflects near-term earnings growth and maintained a $60 price target.
07/12/18
RAJA
07/12/18
DOWNGRADE
RAJA
Market Perform
BNY Mellon downgraded to Market Perform from Outperform at Raymond James
HUN Huntsman
$28.20

-0.73 (-2.52%)

08/24/18
08/24/18
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. Rosehill Resources (ROSE) initiated with a Buy at Stifel. 2. Huntsman (HUN) initiated with a Buy at Seaport Global. 3. Daqo New Energy (DQ) initiated with an Outperform at Credit Suisse. 4. Ardelyx (ARDX) initiated with a Buy at Jefferies. 5. Berry Petroleum (BRY) was initiated with an Overweight at Capital One and an Outperform at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/24/18
GHSC
08/24/18
INITIATION
Target $38
GHSC
Buy
Huntsman initiated with a Buy at Seaport Global
Seaport Global analyst Michael Harrison initiated Huntsman with a Buy and $38 price target saying it has an attractive cost position and leveraging its strong formulation capabilities to drive 75% of segment sales from differentiated products. Harrison is somewhat cautious heading into Q3 given some lost tailwinds in the Polyurethanes segment, but longer-term, sees multiple levers from higher-margin specialty products, organic growth investments, bolt-on M&A, share repurchases, and an improved financial position and capital discipline.
07/18/18
07/18/18
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. Veoneer (VNE) initiated with a Buy at Mizuho and a Neutral at Citi. 2. Huntsman (HUN) initiated with an Outperform at RBC Capital. 3. Autoliv (ALV) reinstated with a Sell at Societe Generale. 4. Chemours (CC) initiated with an Outperform at RBC Capital. 5. VF Corp. (VFC) initiated with an Outperform at RBC Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/25/18
MSCO
09/25/18
INITIATION
MSCO
Equal Weight
Huntsman initiated with an Equal Weight at Morgan Stanley
JBL Jabil
$30.08

0.22 (0.74%)

06/15/18
UBSW
06/15/18
NO CHANGE
Target $35
UBSW
Buy
Jabil Circuit shares look attractively valued, says UBS
UBS analyst Steven Milunovich noted Jabil Circuit (JBL) reported surprisingly strong revenue growth, but only modest earnings upside due to cost overruns. He said growth is reducing free cash flow this year but an increased buyback was announced and Apple (AAPL) has not been the albatross as had been feared because of the company's diversification. Milunovich said Jabil Circuit is attractive at its current valuation and he reiterated his Buy rating and $35 price target on the shares.
06/19/18
VERF
06/19/18
NO CHANGE
Target $29
VERF
Sell
SolarEdge included in second round of Trump's tariffs, says Vertical Group
Vertical Group analyst Gordon Johnson believes President Trump's second set of proposed tariffs on China include SolarEdge Technologies' (SEDG) power optimizers. This is bad for SolarEdge and not fully understood at present, Johnson tells investors in an emailed research note. The analyst thinks this introduces a "much more/immediate draconian risk" that could materially impact SolarEdge's sale of inverters into the U.S. market. A number of investors currently in the stock are not aware that SolarEdge outsources the production of its inverters/optimizers to Jabil Circuit (JBL), which are made mostly in China, Johnson contends. He keeps a Sell rating on SolarEdge shares with a $29 price target. The stock in midday trading is up 2% to $48.75.
09/20/18
JPMS
09/20/18
NO CHANGE
Target $39
JPMS
Overweight
JPMorgan likes setup for Jabil shares into Q4 results
JPMorgan analyst Paul Coster believes the setup for shares of Jabil (JBL) "looks good" into the company's fiscal Q4 results on September 25. The analyst expects Jabil to post "solid results and issue "constructive" fiscal Q1 guidance given a backdrop of strong IT spending, ramping volumes at NCR (NCR), a new product cycle at GoPro (GPRO) and potentially higher year-over-year margins relating to the seasonal Apple (AAPL) business. The stock will "re-rate" exiting the Q2 print and heading into the new fiscal year, Coster tells investors in a pre-earnings research note. He keeps an Overweight rating on Jabil shares with a $39 price target.
03/20/18
UBSW
03/20/18
NO CHANGE
Target $35
UBSW
Buy
Jabil Circuit shares attractive at current levels, says UBS
UBS analyst Steven Milunovich recommends shares of Jabil Circuit (Jabil) and Flex (FLEX) on the belief that Electric Components & Equipment names are re-rating as they move up the value stack to design as well as manufacture products. Investor confidence has been greater in Flex than Jabil, in large part due to Jabil's 25% Apple (AAPL) exposure, Milunovich tells investors in a research note. After meeting with management, the analyst finds Jabil shares attractive based on $3.00 in earnings per share in fiscal 2019 and higher free cash flow. He maintains a Buy rating on Jabil with a $35 price target.

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