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SNAP

Snap

$8.95

-0.18 (-1.97%)

, WFC

Wells Fargo

$54.25

-0.7 (-1.27%)

07:35
09/25/18
09/25
07:35
09/25/18
07:35

Unusual call flow in option market yesterday

Notable call activity was cited Monday in Snap Inc. (SNAP), Wells Fargo (WFC), Cleveland-Cliffs (CLF), Pandora (P), GameStop (GME), Gap (GPS), Spotify (SPOT), International Game (IGT), Yandex (YNDX), and Camping World (CWH).

SNAP

Snap

$8.95

-0.18 (-1.97%)

WFC

Wells Fargo

$54.25

-0.7 (-1.27%)

CLF

Cleveland-Cliffs

$12.40

0.235 (1.93%)

P

Pandora

$8.98

-0.1 (-1.10%)

GME

GameStop

$15.52

-0.99 (-6.00%)

GPS

Gap

$27.70

-0.1 (-0.36%)

SPOT

Spotify

$176.88

1.82 (1.04%)

IGT

International Game

$19.68

0.17 (0.87%)

YNDX

Yandex

$33.47

0.475 (1.44%)

CWH

Camping World

$20.50

-1.57 (-7.11%)

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SNAP Snap
$8.95

-0.18 (-1.97%)

09/13/18
09/13/18
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 CUTS FINISAR, CIENA TO EW: Morgan Stanley analyst Meta Marshall downgraded both Finisar (FNSR) and Ciena (CIEN) to Equal Weight from Overweight, as she adjusted her Optical Scorecard following the earnings reports from companies in the sector. The two stocks have closed the short-term valuation gaps that she previously believed existed with their respective moves up, Marshall said. The analyst added that she is being cautious ahead of Ciena's FY19 guidance, though she raised her price target on the stock to $32 from $30. Marshall, who kept a $20 price target on Finisar shares, said she thinks its catalysts don't come until calendar 2019. The analyst also noted that she is now Equal Weight on the space as a whole, as she also has Equal Weight ratings on Lumentum (LITE), II-VI (IIVI) and Acacia Communications (ACIA). BOFA CUTS WAYFAIR TO NEUTRAL: BofA Merrill Lynch analyst Askshay Bhatia downgraded Wayfair (W) to Neutral from Buy and raised its price target to $160 from $130. Bhatia believes growth is likely to decelerate ahead and sees increasing investments into 2019. Combining that with shares that are up 86% year-to-date leaves little room for further upside, the analyst added. SNAP UPPED TO HOLD FOLLOWING SELLOFF: Pivotal Research analyst Brian Wieser upgraded Snap (SNAP) to Hold from Sell with an unchanged price target of $9. Risks are still present, especially in the near-term, but current trading levels balance those risks with the company' long-term potential, Wieser said. Risks include "aggressive competition from much larger companies," a core user base that is "not growing by much and is only relatively elusive," and a "sub-optimal corporate structure," according to the analyst. BERNSTEIN STARTS NIO WITH UNDERPERFORM: Bernstein analyst Robin Zhu started coverage of NIO Inc. (NIO) with an Underperform rating and $4.20 price target. While the analyst is intrigued by many things, from its impressive branding to its massive volume ambitions, he is unconvinced NIO's shares represent a sound investment. Further, Zhu is skeptical the Chinese electric carmaker can achieve its volume targets. FBN STARTS AMD WITH OUTPERFORM: FBN Securities analyst Shelby Sayrafi initiated coverage of AMD (AMD) with an Outperform rating and $40 price target. AMD currently has a "strong" new product cycle driven by its Zen architecture, fifth generation graphics chips and EPYC processors for the enterprise server market that are "all ramping well currently," Sayrafi said. The analyst believes the EPYC server chip could help AMD penetrate the $16B server chip market.
09/13/18
09/13/18
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. Snap (SNAP) upgraded to Hold from Sell at Pivotal Research with analyst Brian Wieser saying risks are still present, especially in the near-term, but current trading levels balance those risks with the company' long-term potential. 2. DaVita (DVA) upgraded to Neutral from Underweight at JPMorgan with analyst Gary Taylor saying he now believes is it much more likely that California Governor Brown will veto the recently passed SB1156, which he notes would curtail the financial arbitrage that dialysis providers enjoy from charitable premium assistance. 3. Intel (INTC) upgraded to Market Perform from Underperform at Northland with analyst Auguste Richard saying the stock has corrected 23% from its 52-week high and is down 20% since mid-June. 4. Magna (MGA) upgraded to Outperformer from Neutral at CIBC. 5. Flowserve (FLS) upgraded to Buy from Neutral at Northcoast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/13/18
PIVT
09/13/18
UPGRADE
Target $9
PIVT
Hold
Pivotal Research upgrades Snap to Hold following recent selloff
Pivotal Research analyst Brian Wieser upgraded Snap to Hold from Sell with an unchanged price target of $9. The stock closed yesterday down 7%, or 69c, to $9.20. Risks are still present, especially in the near-term, but current trading levels balance those risks with the company' long-term potential, Wieser tells investors in a research note. Risks include "aggressive competition from much larger companies," a core user base that is "not growing by much and is only relatively elusive," and a "sub-optimal corporate structure," according to the analyst. However, while Wieser does not expect Snap to be acquired "any time soon," he believes such an event can't be ruled out. "This at least should help to provide a floor on the company's underlying value, at least so long as usage trends don't crater," he contends.
09/12/18
PIVT
09/12/18
UPGRADE
Target $9
PIVT
Hold
Snap upgraded to Hold from Sell at Pivotal Research
Pivotal Research analyst Brian Wieser upgraded Snap to Hold from Sell with a price target of $9.
WFC Wells Fargo
$54.25

-0.7 (-1.27%)

09/07/18
MACQ
09/07/18
DOWNGRADE
Target $63
MACQ
Neutral
Wells Fargo downgraded to Neutral on falling estimates, valuation at Macquarie
Macquarie analyst David Konrad downgraded Wells Fargo to Neutral from Buy with a $63 price target based on valuation and near-term estimates falling below expectations. Konrad said valuation has moved in line relative to peers following favorable expense guidance and the strong CCAR results and believes it will take a few more quarters before leverage drives higher earnings.
09/07/18
09/07/18
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 DOUBLE UPGRADES AK STEEL: BofA Merrill Lynch analyst Timna Tanners double upgraded AK Steel (AKS) to Buy from Underperform and raised its price target to $6 from $5. Tanners is now modeling 2019 spot benchmark hot rolled coil at $750/short ton versus $700 previously and expects 85% of AK Steel's sheet business that is on fixed-price contracts will have a substantial increase in 2019. In mid-morning trading, AK Steel is up 2%. MACQUARIE CUTS WELLS FARGO TO NEUTRAL: Macquarie analyst David Konrad downgraded Wells Fargo (WFC) to Neutral from Buy with a $63 price target based on valuation and near-term estimates falling below expectations. Konrad said valuation has moved in-line relative to peers following favorable expense guidance and the strong CCAR results, and believes it will take a few more quarters before leverage drives higher earnings. SUSQUEHANNA INITIATES BAIDU, JD.COM: Susquehanna analyst Shyam Patil initiated Baidu (BIDU) with a Positive rating and $325 price target, saying its a 20%+ grower with upside to estimates and the multiple with little downside risk. Patil said the company has several initiatives underway that will drive upside over the near-to-intermediate-term with longer-term AI projects that represent call options. Patil also initiated JD.com (JD) with a Neutral rating and $30 price target, saying he is concerned Alibaba (BABA) will continue to be an e-commerce category killer in China and will remain aggressive in its efforts to take share from JD. GOLDMAN RAISES APPLE TARGET TO $240: Goldman Sachs analyst Rod Hall outlined his expectations for Apple's (AAPL) new product event on September 12, stating that he expects three new iPhones at better price points. He also expects Apple to announce two new AppleCare+ Plans associated with the iPhone 9 and the Xs+ and raised his Services forecast to account for an overall mix of AppleCare+ skewed towards higher priced plans. Hall raised his price target on Apple shares to $240, but maintained a Neutral rating on the stock. BOFA DEFENDS MICRON: BofA Merrill Lynch analyst Simon Woo kept his Buy rating and $100 price target on Micron (MU), saying the fundamentals of the company's earnings remain solid, and the recent correction in the stock price is likely "sentiment related". The analyst notes that the company is still headed for "record-high revenue/profit," and the stalled rise in memory chip prices does not signal a market downturn.
09/12/18
JPMS
09/12/18
NO CHANGE
JPMS
Underweight
Reported OCC rejection would be negative for Wells, says JPMorgan
According to Reuters, Office of the Comptroller of the Currency regulators have rejected Wells Fargo's plan to repay its auto customers who were pushed to buy unnecessary auto insurance, JPMorgan analyst Vivek Juneja tells investors in a research note. This rejection would be a negative for Wells as it may be required to spend more and take more time to satisfy regulators, the analyst writes. He also views the news negatively overall for the bank's ongoing regulatory issues. Juneja reiterates an Underweight rating on shares of Wells Fargo.
09/17/18
EDJN
09/17/18
UPGRADE
EDJN
Buy
Wells Fargo upgraded to Buy from Hold at Edward Jones (Friday)
CLF Cleveland-Cliffs
$12.40

0.235 (1.93%)

07/23/18
SBSH
07/23/18
NO CHANGE
Target $12
SBSH
Buy
Cleveland-Cliffs shares have room to move higher, says Citi
Citi analyst Daniel Knauff sees room for Cleveland-Cliffs shares to move higher following Friday's 13% post-earnings really. The analyst raised his price target for the stock to $12 from $11 and keeps a Buy rating on the name. As Cleveland-Cliffs delivers on deleveraging, begins capital returns and de-risks the HBI project the stock can appreciate further, Knauff tells investors in a research note. He keeps a Buy rating on the shares.
09/07/18
JEFF
09/07/18
NO CHANGE
Target $13
JEFF
Buy
Cleveland-Cliffs price target raised to $13 from $11 at Jefferies
Jefferies analyst Seth Rosenfeld raised his price target for Cleveland-Cliffs to $13 saying the company's dual exposure to seaborne pellets and domestic hot-rolled coil "continues to stand out as a winning combination." While hot-rolled coil is drifting lower, Cleveland-Cliffs' contracts remain in upgrade territory, Rosenfeld tells investors in a research note. He keeps a Buy rating on the shares.
07/23/18
07/23/18
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. Duke Energy (DUK) upgraded to Neutral from Underweight at JPMorgan with analyst Christopher Turnure saying execution risk is priced into the shares at current levels and the company's visibility is improved following recent regulatory outcomes. 2. SunTrust (STI) upgraded to Buy from Neutral at B. Riley FBR with analyst Steve Moss citing the company's better outlook for revenue growth and efficiency improvement following its "good" Q2 results. 3. Cleveland-Cliffs (CLF) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Gambardella citing the company's "strong" U.S. iron ore earnings momentum and the removal of an overhang with the Asia Pacific Iron Ore sale. 4. Delphi Technologies (DLPH) upgraded to Outperform from Perform at Oppenheimer with analyst Noah Kaye saying that trade risks, peak U.S. SAAR concerns, light duty diesel decline and potential long-term disruption from electrification have all contributed to a tempest of negative sentiment on the auto suppliers. 5. Essex Property Trust (ESS) upgraded to Market Perform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/06/18
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).
P Pandora
$8.98

-0.1 (-1.10%)

09/25/18
FBCO
09/25/18
DOWNGRADE
Target $7.5
FBCO
Neutral
Sirius XM downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Brian Russo downgraded Sirius XM (SIRI) to Neutral and lowered his price target for the shares to $7.50 from $8.50. The company's acquisition of Pandora Media (P) "changes the story," Russo tells investors in a research note. The analyst believes the opportunities and potential synergies between the two companies, as well as management's capital deployment intentions, are "unclear at this time." Further, Russo thinks shares of Sirius XM could be range-bound through the deal's expected close in Q1 of 2019.
09/25/18
RHCO
09/25/18
DOWNGRADE
RHCO
Hold
Pandora downgraded to Hold from Buy at SunTrust
09/25/18
RHCO
09/25/18
DOWNGRADE
Target $9.5
RHCO
Hold
Pandora downgraded to Hold from Buy at SunTrust
SunTrust analyst Matthew Thornton downgraded Pandora (P) to Hold from Buy and raised his price target to $9.50 from $8.50 after yesterday's announcement of an acquisition by Sirius XM (SIRI). The analyst says the deal makes sense strategically to merge its "free ad-supported and mobile/digital capabilities" with the latter's position in subscription, in-auto, and non-music content, but also contends that its valuation is "underwhelming" at just 18% premium to Friday's close. Thornton believes that another suitor, such as Spotify (SPOT), may emerge during the go-shop period.
09/25/18
NEED
09/25/18
DOWNGRADE
NEED
Hold
Pandora downgraded to Hold from Buy at Needham
Needham analyst Laura Martin downgraded Pandora Media (P) to Hold following the company's acquisition by Sirius XM (SIRI). The analyst does not expect a higher bid to emerge. However, she's "disappointed in the timing and the price." One year from now, Pandora would have been worth $13 per share, Martin tells investors in a research note. Instead, after yesterday's price action, shareholders are receiving about $9 per share, the analyst points out.
GME GameStop
$15.52

-0.99 (-6.00%)

09/10/18
LOOP
09/10/18
NO CHANGE
Target $16
LOOP
Hold
GameStop price target raised to $16 from $14 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on GameStop to $16 and kept his Hold rating. The analyst notes that while the latest worse-than-expected quarter offered no incremental positives fundamentally, his new price target reflects the increasing possibility that the company will be acquired. Chukumba adds that he is "somewhat encouraged" by the management's maintained FY18 guidance.
09/07/18
WEDB
09/07/18
NO CHANGE
Target $19
WEDB
Outperform
GameStop's demise 'not as imminent as many expect,' says Wedbush
Wedbush analyst Michael Pachter reiterated an Outperform rating and $19 price target on GameStop following the company's Q2 results, telling investors in a research note that he expects shares to trade at a compressed EPS multiple until the company can slow the rate of decline in its core video game business. However, Pachter contends that GameStop will benefit from a strong release slate ahead of the holidays, and that while it is likely going to see sales continue to decline for the foreseeable future, its demise is "not as imminent as many expect" as GameStop appears positioned to manage its store footprint to preserve profitability and cash flow. Regarding its strategic alternatives process, Pachter says he believes the company is "too expensive" for many private equity firms, though it is possible that a buyer could grow free cash flow by cutting opex by $100M or so annually.
09/06/18
LOOP
09/06/18
NO CHANGE
Target $14
LOOP
Hold
GameStop Q2 disappointed on declining operating margins, says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Hold rating and $14 price target on GameStop after its Q2 results, saying revenues were below his expectations and comps decline of 0.5% was worse than his expected flat print. The analyst also points to an operating margin decline of 90bps , adding that sales of software, digital, tech brands, and pre-owned merchandise all fell. Chukumba states that he was particularly concerned with continued sales weakness in new video game software and pre-owned and value products, and speculation around private equity interest may eventually become "moot".
09/06/18
BARD
09/06/18
NO CHANGE
Target $14
BARD
Outperform
GameStop strong hardware sales offset pre-owned and software decline, says Baird
Baird analyst Colin Sebastian kept his Outperform rating and $14 price target on GameStop (GME) after its "in-line" Q2 results, where "strong new hardware sales and improving Tech Brands segment profitability" offset the declines in the pre-owned and software segments. The analyst adds that the revenue beat was driven by the ongoing demand for Nintendo (NTDOY) Switch and Xbox One consoles, while noting that the comps decline of -0.5% was better than the expected -3.7% decrease.
GPS Gap
$27.70

-0.1 (-0.36%)

08/27/18
SBSH
08/27/18
UPGRADE
Target $29
SBSH
Neutral
Cit upgrades Gap to Neutral following last week's selloff
Citi analyst Paul Lejuez upgraded Gap to Neutral from Sell with an unchanged price target of $28. Since end of November 2017, the stock is down 9% versus the average stock performance of up 42% in the analyst's coverage universe. Following last week's post-earning selloff, Gap shares are now within 1% of Lejuez's price target. As such, he cites valuation for his upgrade to Neutral.
08/27/18
SBSH
08/27/18
UPGRADE
SBSH
Neutral
Gap upgraded to Neutral from Sell at Citi
08/24/18
DBAB
08/24/18
NO CHANGE
DBAB
Hold
Gap brand challeneges pose risk to estimates, says Deutsche Bank
Deutsche Bank analyst Paul Trussell believes challenges at the Gap brand present risk to estimates in the second half of the year, despite momentum at Old Navy and improvement at Banana Republic. The merchandise margin deleverage experienced in Q2 was due to issues at the brand once again as Gap continues to work through inventory mishaps, Trussell tells investors in a post-earnings research note. He believes investors are likely to remain cautious until evidence of progress emerges and keeps a Hold rating on the shares.
08/24/18
JEFF
08/24/18
NO CHANGE
Target $50
JEFF
Buy
Gap worth over 50% more than here on sum-of-the-parts, says Jefferies
In a post-earnings research note titled "Dear B.O.D. of GPS... Please Change Name of Company to Old Navy," Jefferies analyst Randal Konik recommends investors use any post-earnings pullback in shares of Gap as a buying opportunity. The Gap brand remains challenged, but better earnings and reaffirmed guidance shows the Gap brand doesn't matter, Konik tells investors. He points out that Old Navy comps remain solid and Athleta continues to grow. The analyst's sum-of-the-parts work shows Gap is worth more than 50% above current share levels while "downside is minimal." Konik maintains a Buy rating on Gap shares with a $50 price target.
SPOT Spotify
$176.88

1.82 (1.04%)

08/27/18
RBCM
08/27/18
NO CHANGE
Target $225
RBCM
Outperform
Apple unlikely to be hit by apps' potential bypass of fees, says RBC Capital
RBC Capital analyst Amit Daryanani writes that Netflix (NFLX) is testing an "experimental feature" that would allow its users to bypass Apple (AAPL) signup fees in certain international markets - a tactic already used by Spotify (SPOT) - which could lead to Apple being cut out of its 30% initial /15% renewal cut of the fees. The analyst notes however that the AppStore prohitibs apps from implementing alternate payment mechanisms, and even if the apps bypass was successful, "most users of Netflix and other apps have already signed up in past through App Store and Apple would continue to collect payments on that large user base." Daryanani keeps his Outperform rating and $225 price target on Apple.
08/22/18
MKMP
08/22/18
NO CHANGE
Target $245
MKMP
Buy
Spotify price target raised to $245 from $200 at MKM Partners
MKM Partners analyst Rob Sanderson raised his price target on Spotify to $245 and kept his Buy rating, saying he is adding the expected EUR450M revenue in Data and other services into his long-term model. The analyst notes that as Spotify becomes the primary platform to connect music fans and artists, the company has "great potential" to monetize its data, analytical tools, tour marketing and support, ticketing, and merchandise sales services to help grow the industry. Sanderson adds that his model still excludes any potential value from from Tencent Music IPO expected later this year, but believes that Spotify's investment could yield as much as $15 per share in value.
07/30/18
BOFA
07/30/18
NO CHANGE
Target $230
BOFA
Buy
Spotify price target raised to $230 from $195 at BofA/Merrill
BofA/Merrill analyst Jessica Reif raised her price target on Spotify to $230 after the company's Q2 results that showed improving subscription gains offset in part by "softer" average revenue per user and "lighter" monthly active user count. The analyst is also positive on Spotify's stable geographic diversification of sales and a "high rate of programmatic and premium video advertising growth of 44% and 28%". Reif kept her Buy rating on Spotify, anticipating continued MAU growth driven by emerging markets expansion, Family Plan adoption, and growth in historically physical markets.
IGT International Game
$19.68

0.17 (0.87%)

08/13/18
FBCO
08/13/18
INITIATION
Target $24
FBCO
Neutral
International Game initiated with a Neutral at Credit Suisse
Credit Suisse analyst Cameron McKnight started International Game Technology with a Neutral rating and $24 price target. The analyst sees limited growth for the company given the "very mature and defensive" Lottery business.
08/14/18
08/14/18
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. CREDIT SUISSE INITIATES CASINO STOCKS: Credit Suisse analyst Cameron McKnight initiated Gaming and Leisure Properties (GLPI), VICI Properties (VICI), and PlayAGS (AGS) with an Outperform, Las Vegas Sands (LVS), Wynn Resorts (WYNN), MGM Growth (MGP), and International Game (IGT) with a Neutral, as well as Scientific Games (SGMS) with an Underperform. MORGAN STANLEY RAISES SALESFORCE PRICE TARGET TO $178 FROM $153: Morgan Stanley analyst Keith Weiss raised his price target for Salesforce (CRM) shares to $178 from $153 and maintained an Overweight rating. Weiss noted that unlocking data trapped in legacy systems via MuleSoft brings the company to the forefront of driving digital transformation for its customers and added that consensus expectations likely underestimate its growth potential as well as its improved track record in M&A. JEFFRIES SAYS "SIGNIFICANT SHAREHOLDER VALUE TO BE UNLOCKED" AT NIELSEN: Even following yesterday's 12% rally, there is "significant shareholder value to be unlocked" at Nielsen Holdings (NLSN), Jefferies analyst Surinder Thind told investors in a research note. Nielsen was also upgraded to Outperform from Neutral at Macquarie and to Equal Weight from Underweight at Barclays. Morgan Stanley analyst Toni Kaplan reiterated an Overweight rating and $26 price target on the stock. NOMURA RAISES PRICE TARGET AFTER SQUARE CASH APP SURPASSED PAYPAL'S VENMO IN JULY: Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $86 from $82 after his firm's July payments app tracker showed cumulative Square Cash App downloads surpassed PayPal's (PYPL) Venmo for the first time. SWITCH DOWNGRADED AT MULTIPLE FIRMS: Switch (SWCH) was downgraded to Market Perform from Outperform at Raymond James, to Neutral from Overweight at JPMorgan, and to Neutral from Buy at BTIG. Switch shares are down about 25% in morning trading.
06/15/18
06/15/18
UPGRADE
Target $33

Buy
International Game upgraded to Buy on valuation at Union Gaming
As previously reported, Union Gaming upgraded International Game to Buy from Hold. Analyst John DeCree changed his view saying valuation is attractive ahead of the August 2 analyst day.
08/03/18
DBAB
08/03/18
NO CHANGE
DBAB
Buy
International Game removed from catalyst call buy list at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli removed International Game Technology from his firm's catalyst call list to buy the stock. There is market volatility in the gaming space and two of the short-term investment catalysts have played out, Santarelli tells investors in a research note. The analyst keeps a Buy rating on International Game.
YNDX Yandex
$33.47

0.475 (1.44%)

03/29/18
SBSH
03/29/18
UPGRADE
SBSH
Buy
Yandex upgraded to Buy from Neutral at Citi
03/29/18
SBSH
03/29/18
UPGRADE
SBSH
Buy
Yandex upgraded to Buy from Neutral at Citi
Citi analyst Brady Martin upgraded Yandex to Buy from Neutral and raised his price target for the shares to RUR 2,900. The analyst updated his model to reflect the company's better than expected fiscal 2017 financials as well as the taxi transaction with Uber that closed in February. Martin notes that Yandex continues to increase share on both desktop and mobile.
03/29/18
03/29/18
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. Exelon (EXC) upgraded to Neutral from Sell at Goldman Sachs by analyst Michael Lapides, with a $43 price target, as the analyst sees higher sum-of-parts value, potential upside to consensus estimates, and few near-term negative catalysts. 2. Harley-Davidson (HOG) upgraded to Neutral from Underperform at Longbow by analyst David MacGregor, citing valuation despite channel checks that indicate continued weakness in U.S. sales. MacGregor continues to be concerned about weak U.S. retail sales trends but views shares as fairly valued following his downgrade in January. 3. Jacobs Engineering (JEC) upgraded to Buy from Hold at Deutsche Bank by analyst Chad Dillard, who said the market is pricing in a near certain probability the CH2M merger integration will fail. He believes the concerns are overdone and thinks the risk of this merger is lower than other deals in the space. Jacobs management has a strong execution track record, Dillard contended. The analyst sees a path to 65% earnings growth and a doubling of free cash flow over the next three years. As such, he views the stock as "significantly undervalued." 4. Akamai (AKAM) upgraded to Equal Weight from Underweight at Morgan Stanley by analyst Keith Weiss. After a period of declining margins, he sees signs of stability, noting that following the involvement of activist Elliott Management the company has announced a 5% workforce reduction and new shareholder value initiatives. Also, the contribution from Akamai's top 6 Media customers looks to have stabilized after two years of steep declines and his customer survey indicating a more defensible core base, Weiss said. 5. Yandex (YNDX) upgraded to Buy from Neutral at Citi by analyst Brady Martin, who updated his model to reflect the company's better than expected fiscal 2017 financials as well as the taxi transaction with Uber that closed in February. Martin noted that Yandex continues to increase share on both desktop and mobile. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/18
DBAB
04/19/18
NO CHANGE
Target $45
DBAB
Buy
Yandex selloff brings attractive entry point, says Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley believes the recent pullback in shares of Yandex creates an attractive entry point. The analyst expects "solid" Q1 results and thinks the stock is more than pricing in recent ruble weakness. He continues to like the fundamental story at Yandex around core search and the Taxi business. Walmsley lowered his price target for the shares to $45 from $50 and reiterates a Buy rating on the name.
CWH Camping World
$20.50

-1.57 (-7.11%)

08/21/18
BMOC
08/21/18
NO CHANGE
Target $36
BMOC
Outperform
Camping World price target lowered to $36 from $42 at BMO Capital
BMO Capital analyst Gerrick Johnson lowered his price target on Camping World to $36 but kept his Outperform rating after its Investor Day presentation. The analyst notes that his prior concerns with the Gander Mountain asset purchase have been realized when the company recently cut its EBITDA guidance, however he also sees its change in the retail strategy to be "accretive" next year with solid growth potential going into 2019. Specifically, the analyst is positive on Camping World's plans to use Gander Outdoors as a "back door" to bring its RV dealerships into underpenetrated areas without the capital investment that would be needed at acquired dealerships, adding that the multiple on the stock had previously been negatively impacted by the investors' confusion over the company's plans.
08/17/18
NRCS
08/17/18
NO CHANGE
NRCS
Northcoast says channel checks pointing to weakening RV demand
Northcoast analyst Seth Woolf said he has become incrementally more cautious on the Recreation & Leisure Products group as his channel checks are pointing to weakening retail demand. While he believes "the buy-side is clearly expecting to see weak wholesale numbers in the coming months," Woolf also contends that the magnitude of declines could be a surprise. He maintains a Buy rating on Camping World (CWH) and Neutral ratings on LCI Industries (LCII), Thor Industries (THO) and Winnebago (WGO).
08/15/18
JPMS
08/15/18
NO CHANGE
Target $36
JPMS
Overweight
Camping World price target lowered to $36 from $42 at JPMorgan
JPMorgan analyst Ryan Brinkman reiterated an Overweight rating on Camping World but cut his price target to $36 from $42 to reflect lowered estimates and a lower trading multiple. Although the RV industry is cyclical, Brinkman expects that with the current strong industry backdrop, "solid" M&A activities, earnings will likely outperform over the next several years.
05/09/18
BMOC
05/09/18
NO CHANGE
Target $42
BMOC
Outperform
Camping World price target lowered to $42 from $62 at BMO Capital
BMO Capital analyst Gerrick Johnson lowered his price target on Camping World to $42 after its "slight" earnings miss in Q1 along with trailing comps relative to the overall market. The analyst notes that investors' concerns around the delay of Gander Outdoors rollout has been heightened but keeps his Outperform rating, expecting the RV industry conditions to remain strong with "normalized" results over the course of the year.

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AMD

AMD

$23.68

0.55 (2.38%)

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Intel

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Intel

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MRVL

Marvell

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MCHP

Microchip

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MU

Micron

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Nvidia

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QCOM

Qualcomm

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TXN

Texas Instruments

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Twitter

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AMGN

Amgen

$188.31

1.6 (0.86%)

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Astellas Pharma

$0.00

(0.00%)

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Amgen

$188.31

1.6 (0.86%)

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Astellas Pharma

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AZN

AstraZeneca

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0.93 (2.33%)

BAYRY

Bayer

$0.00

(0.00%)

BMY

Bristol-Myers

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0.81 (1.59%)

CALA

Calithera Biosciences

$5.35

0.14 (2.69%)

CLVS

Clovis

$25.44

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DNA

Bought by RHHBY

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ESALY

Eisai

$0.00

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EXEL

Exelixis

$22.26

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IMMU

Immunomedics

$14.23

0.225 (1.61%)

INO

Inovio

$3.70

0.01 (0.27%)

MRK

Merck

$79.84

0.9 (1.14%)

MYOV

Myovant Sciences

$21.48

0.1 (0.47%)

MYGN

Myriad Genetics

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0.53 (1.72%)

NH

NantHealth

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NVS

Novartis

$89.89

0.865 (0.97%)

PFE

Pfizer

$42.41

0.45 (1.07%)

PGNX

Progenics

$4.87

0.13 (2.74%)

SGEN

Seattle Genetics

$71.48

2.92 (4.26%)

SNY

Sanofi

$42.51

0.94 (2.26%)

TYME

Tyme Technologies

$3.19

0.055 (1.76%)

AVEO

Aveo Pharmaceuticals

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0.0092 (1.51%)

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WES

Western Gas Partners

$49.52

0.38 (0.77%)

, WGP

Western Gas Equity

$32.38

0.2 (0.62%)

19:30
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Recommendations
Western Gas Partners, Western Gas Equity analyst commentary at MUFG »

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Western Gas Partners

$49.52

0.38 (0.77%)

WGP

Western Gas Equity

$32.38

0.2 (0.62%)

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PXD

Pioneer Natural

$145.33

2.27 (1.59%)

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Pioneer Natural analyst commentary at MUFG »

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ZTS

Zoetis

$95.38

2.16 (2.32%)

18:42
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Hot Stocks
Zoetis CEO says: 'Diagnostics are more important in animals than humans' »

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JNJ

Johnson & Johnson

$136.40

2.13 (1.59%)

18:22
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Johnson & Johnson CEO: 'We ended 2018 with great results' »

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WIN

Windstream

$3.37

0.2 (6.31%)

, UNIT

Uniti Group

$20.00

0.53 (2.72%)

18:18
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Court says Windstream defaulted on bonds in 2015, Bloomberg says »

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Windstream

$3.37

0.2 (6.31%)

UNIT

Uniti Group

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BHVN

Biohaven Pharmaceutical

$45.32

1.36 (3.09%)

18:14
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Biohaven treatment of multiple system atrophy granted FDA orphan designation »

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AMGN

Amgen

$188.31

1.6 (0.86%)

18:11
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Amgen treatment of Acute Myeloid Leukemia granted FDA orphan designation »

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CE

Celanese

$100.19

1.19 (1.20%)

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Celanese announces Acetyl Intermediates price increases in China »

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WIN

Windstream

$3.37

0.2 (6.31%)

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Uniti Group

$20.00

0.53 (2.72%)

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Court says Windstream defaulted on bonds in 2015, Bloomberg says »

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Windstream

$3.37

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UNIT

Uniti Group

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GLD

SPDR Gold Shares

$124.81

0.77 (0.62%)

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SPDR Gold Shares holdings fall to 793.03MT from 796.85MT »

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MDLZ

Mondelez

$48.17

0.84 (1.77%)

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Mondelez to transfer listing of debt securities to Nasdaq »

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FN

Fabrinet

$55.23

0.67 (1.23%)

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Fabrinet CFO sells 20K shares of common stock »

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UBER

Uber

$0.00

(0.00%)

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Periodicals
Uber sues NYC over move to cap number of ride-hailing drivers, Bloomberg says »

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SPX

S&P 500

$0.00

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, SPY

SPDR S&P 500 ETF Trust

$277.40

2.93 (1.07%)

17:19
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Periodicals
House Democrats to probe POTUS emergency declaration, Bloomberg says »

The House Judiciary…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$277.40

2.93 (1.07%)

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ORCL

Oracle

$51.71

0.25 (0.49%)

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Oracle authorizes additional $12B stock buyback under existing program »

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SBLK

Star Bulk Carriers

$8.21

0.13 (1.61%)

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Star Bulk Carriers acquires 95,605 of its common shares »

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HOLI

Hollysys

$20.56

0.26 (1.28%)

17:02
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Earnings
Hollysys reports Q2 adjusted EPS 73c, consensus 59c »

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AKS

AK Steel

$2.98

-0.015 (-0.50%)

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Syndicate
Breaking Syndicate news story on AK Steel »

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General news
Treasury Market Summary: i »

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LPTX

Leap Therapeutics

$1.65

(0.00%)

16:53
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Valence Helix Investments discloses 10.99% stake in Leap Therapeutics »

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MPB

Mid Penn Bancorp

$23.25

-0.24 (-1.02%)

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Mid Penn Bancorp seeks approval to relocate Allentown Boulevard branch »

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REGN

Regeneron

$423.79

8.54 (2.06%)

, AMGN

Amgen

$188.31

1.6 (0.86%)

16:44
02/15/19
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Hot Stocks
Regeneron says EPO revokes Immunex's European patent No. 2,990,420 »

Regeneron…

REGN

Regeneron

$423.79

8.54 (2.06%)

AMGN

Amgen

$188.31

1.6 (0.86%)

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UPS

UPS

$110.89

-0.91 (-0.81%)

16:44
02/15/19
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UPS CFO sells 9.1K shares of common stock »

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