  - $68.01
1.3 (1.95%) - 09/24/18
- WELS
09/24/18
NO CHANGEWELS
Market Perform Versace not seen by many as ideal M&A target for Michael Kors, says Wells Fargo Wells Fargo analyst Ike Boruchow said many investors seem puzzled by the negative reaction today in shares of Michael Kors to reports that the company may be near a deal to acquire Italian fashion company Versace for $2.35B. He believes the weakness is due to the speed with which such a deal would be made following the purchase of Jimmy Choo just 11 months ago and the fact that on the surface the reported deal would appear to be fairly dilutive. Versace "doesn't make for an ideal M&A target in the eyes of many shareholders," the analyst added. Boruchow thinks an acquisition at the terms reported could be 30c-40c dilutive to EPS in year one, not inclusive of dilution should the company halt their current buyback program, representing a 7-9% impact to EPS in year one, which he notes is a similar percentage impact as what the stock is seeing today. Boruchow keeps a Market Perform rating on Michael Kors shares, which are down 7.7% to $67.12 in afternoon trading. - 08/09/18
- ADAM
08/09/18
NO CHANGETarget $90
ADAM
Buy Michael Kors price target raised to $90 from $84 at Canaccord Canaccord analyst Camilo Lyon raised his price target on Michael Kors to $90 from $84 following solid Q1 results. The analyst said the beat was due to broad based sales, gross margins, expense leverage, and a positive tax rate. He said the key elements of his Buy thesis are in place and trending upwards, strong free cash flow is being deployed for buybacks, and the shares are at an attractive valuation. Lyon reiterated his Buy rating on Michael Kors shares. - 08/09/18
- NOMU
08/09/18
NO CHANGETarget $85
NOMU
Buy Michael Kors price target raised to $85 from $80 at Nomura Instinet Nomura Instinet analyst Simeon Siegel raised his price target for Michael Kors to $85 saying yesterday's Q1 results showed top-line strength and meaningful margin expansion. Kors has been "showing remarkable strides as one of the best Shrink to Grow stories," but its multiple is lagging meaningfully behind peers, the analyst adds. He reiterates a Buy rating on the shares. - 08/17/18
- PIPR
08/17/18
NO CHANGETarget $71
PIPR
Neutral Michael Kors price target raised to $71 from $66 at Piper Jaffray Piper Jaffray analyst Erinn Murphy raised her price target for Michael Kors to $71 from $66 but maintained a Neutral rating following the company's Q1 results, telling investors in a research note that she continues to maintain her sidelined stance. Though she raised her estimates for Q2 and FY19/FY20 based on an improved Q1, she would like to see more evidence of a sustained improvement at retail. - $0.00
(0.00%) - $164.94
-0.46 (-0.28%) - 09/25/18
- NOMU
09/25/18
NO CHANGETarget $125
NOMU
Buy Square price target raised to $125 from $86 at Nomura Instinet Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $125 from $86 and keeps a Buy rating on the shares. The stock closed yesterday up 75c to $86.04. The analyst's analysis of Square's fundamentals indicates "buoyant" gross payment volume, revenue and marketing efficacy trends. The company's "fully cohesive solutions and rapid rate of innovation" suggest that it is en route to disrupt the global payments ecosystem, Dolev tells investors in a research note titled "Improving Momentum Means $125 Is Within Reach." He believes this is similar to the FANG stocks, or Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Google (GOOG, GOOGL), that have "disrupted traditional markets with massive" global total addressable markets. Further, Dolev believes shares of Square are not too expensive when taking into account its "stellar" 45% expected three-year annual revenue growth, which he thinks "makes it screen more attractively than many payment peers and FANG stocks." - 09/25/18
- BARD
09/25/18
NO CHANGETarget $195
BARD
Outperform Facebook survey suggests stabilizing user engagement, says Baird Baird analyst Colin Sebastian said his latest social media survey suggests stabilizing user engagement on the core Facebook app, following a period of declines. If accurate, the survey suggests concerns over an engagement and monetization-related slowdown may already be reflected in the shares. He also said Q3 estimates embed reasonable expectations for user growth. Sebastian reiterated his Outperform rating and $195 price target on Facebook shares. - 09/25/18
- JPMS
09/25/18
NO CHANGEJPMS
Overweight JPMorgan sees 'meaningful pressure' on Facebook shares from Instagram departures JPMorgan analyst Doug Anmuth says the "surprising" departure of Instagram co-founders Kevin Systrom and Mike Krieger is concerning and likely to put "meaningful pressure" on shares of Facebook (FB) in the near-term. The analyst believes Instagram has been a strong growth driver for Facebook and has played a critical role in retaining younger users within the company's group of platforms and in competing with Snap (SNAP). While the exact rationale for the co-founders' departure is unclear, various press reports suggest it is related to Facebook management recently exerting more control over Instagram, Anmuth tells investors in a research note. The analyst has an Overweight rating on Facebook. The stock in premarket trading is down 2%, or $3.71, to $161.70. - 09/25/18
- RHCO
09/25/18
NO CHANGETarget $200
RHCO
Buy Instagram 'in a good place' after Systrom, Krieger resignations, says SunTrust SunTrust analyst Youssef Squali maintained a Buy rating and $200 price target on Facebook following the departure of Instagram co-founders Kevin Systrom and Mike Krieger. In a research note to investors, the analyst notes that the departures are the "latest in a string" of high profile departures in recent months, including WhatsApp co-founders Jan Koum and Brian Acton and VP and General Counsel Colin Stretch, and follows a restructuring earlier this year that reorganized the entire company. Squali contends that Instagram is "in a good place" and is being left with "stable footing," as well as "impressive" growth in users as Stories DAUs, adding that product cadence has slowed and it is entering a new phase of its life. Squali feels a deeper integration with Facebook could lead to an improved advertising product and monetization, which Systrom and Krieger may have been more resistant to, and does not see any material changes at the Facebook unit in the near-term. - $95.40
9.34 (10.85%) - 09/21/18
- EVER
09/21/18
NO CHANGETarget $101
EVER
Outperform Square price target raised to $101 from $76 at Evercore ISI Evercore ISI analyst Rayna Kumar raised her price target on Square to $101 and kept her Outperform rating citing the findings of her analysis of Square Cash App monetization. The analyst notes that the last two years saw the company launch new product features for the app including "Instant Deposit, the Square Cash Card, Bitcoin trading, and its reward program Boost", becoming a likely "material driver to both revenue and earnings over time". Kumar expects the app to contribute up to 16c to Square's FY20 EPS, 30c to FY21 EPS, and 40c in FY22 EPS, stating that the company's monetization strategy is in the "early innings". - 09/25/18
- JEFF
09/25/18
NO CHANGETarget $88
JEFF
Hold Square price target raised to $88 from $63 at Jefferies Jefferies analyst John Hecht raised his price target for Square to $88 after taking a detailed look at the company's non-payments businesses. The analyst, however, keeps a Hold rating on the shares. Various sum-of-the-parts analyses points to current premium valuations for each segment, suggesting "strong growth and successful execution is likely priced-in," Hecht tells investors in a research note. While Square's Subscription & Services products are "no doubt well positioned," the stock's valuation remains full, Hecht contends. - 09/25/18
- BARD
09/25/18
NO CHANGEBARD
Neutral New Square payroll app more of a threat to Paychex than ADP, says Baird Baird analyst Mark Marcon said that based on his conversations, and the reaction this afternoon in shares of ADP (ADP) and Paychex (PAYX) to Square's (SQ) announcement of a new payroll app, that it is "fair to say" the majority of investors had not considered Square as a potential competitor. While others have been in the space for years and the near-term real business impact from Square is likely to be minimal, the news does increase the visibility of emerging competition, said Marcon. Square's target is small companies so this is more of a competitive threat to Paychex than ADP, added the analyst, who has Neutral ratings on both legacy HCM providers. - $73.72
-0.84 (-1.13%) - 08/14/18
- JPMS
08/14/18
DOWNGRADETarget $76
JPMS
Underweight Paychex downgraded to Underweight from Neutral at JPMorgan JPMorgan analyst Tien-Tsin Huang downgraded Paychex to Underweight while raising his price target for the shares to $76 from $67. - 08/14/18
- JPMS
JPMorgan shuffles ratings in Payments & Processors, upgrades Alliance Data JPMorgan analyst Tien-tsin Huang rebalanced his ratings in the Payments & Processors while establishing 2019 price targets. With payments "increasingly being consumed and distributed via technology," the analyst continues to favor the "more modern, digital players." He believes the shift towards integrated payments and digital banking is in the early stages. Analyst Reginald Smith upgraded Alliance Data Systems (ADS) to Overweight from Neutral and raised his price target for the shares to $281 from $270. Smith thinks stock sentiment is nearing an inflection point as delinquency trends stabilize. Huang downgraded Fiserv (FISV) and Paychex (PAYX) to Underweight from Neutral, saying the companies are below-average growers with below-average earnings upside risk. - 08/20/18
- GUGG
08/20/18
INITIATIONTarget $75
GUGG
Neutral Paychex initiated with a Neutral at Guggenheim Guggenheim analyst initiated Paychex with a Neutral rating and a price target of $75. - $148.80
-0.32 (-0.21%) - 08/20/18
- GUGG
08/20/18
INITIATIONTarget $175
GUGG
Buy ADP initiated with a Buy at Guggenheim Guggenheim analyst Nandan Amladi initiated Automatic Data Processing with a Buy rating and a price target of $175. - 07/17/18
- WOLF
07/17/18
INITIATIONTarget $175
WOLF
Outperform ADP initiated with an Outperform at Wolfe Research Wolfe Research analyst Darrin Peller initiated ADP with an Outperform and $175 price target. - 08/10/18
- FBCO
08/10/18
INITIATIONTarget $160
FBCO
Outperform ADP initiated with an Outperform at Credit Suisse Credit Suisse analyst Kevin McVeigh initiated the Business and Professional Services sector, starting ADP with an Outperform rating and $160 price target, telling investors that he is "impressed" with the company's business model, which offers the opportunity to own a unique, HR-related ecosystem and is "comfortable" that recent investments aimed at driving growth have been successful. - $43.46
6.85 (18.71%) - 09/12/18
- OPCO
09/12/18
NO CHANGEOPCO
Perform Sonic risk/reward too stretched, pull-back ahead, says Oppenheimer Oppenheimer analyst Brian Bittner now sees Sonic's risk/reward as too stretched and anticipates a pull-back, based on his analysis. Fundamentally, the analyst believes recent installment of long-term targets tilt aggressively, particularly assumption for 2%-4%-plus same-store sales. He reiterates a Perform rating on the shares. - 09/25/18
- PIPR
09/25/18
DOWNGRADEPIPR
Neutral Sonic downgraded to Neutral from Overweight at Piper Jaffray Piper Jaffray analyst Nicole Miller Regan downgraded Sonic to Neutral from Overweight citing the company's agreement to be acquired by Inspire Brands. - 09/25/18
- BARD
M&A interest could put near-term floor under restaurant valuations, says Baird Baird analyst David Tarantino said Sonic's (SONC) agreement to be acquired by Inspire Brands, which also bought Buffalo Wild Wings last year, underscores that private equity firms continue to have interest in putting money to work in the restaurant sector, which he thinks could help to put a floor on the valuations of publicly-traded restaurant stocks. Among the stocks in the sector that he covers, Tarantino views Jack in the Box (JACK), El Pollo Loco (LOCO), Chuy's (CHUY), Habit Restaurants (HABT) and Potbelly (PBPB) as among those that theoretically could attract buyout interest at their current multiples, he tells investors. - 09/25/18
- WBLR
09/25/18
DOWNGRADEWBLR
Market Perform Sonic downgraded to Market Perform from Outperform at William Blair William Blair analyst Sharon Zackfia downgraded Sonic to Market Perform citing the takeover by Inspire Brands. - $33.57
-1.175 (-3.38%) - 09/19/18
- VERF
09/19/18
NO CHANGEVERF
Sell E-tron may not be 'Tesla killer,' but still a 'real risk,' says Vertical Group After attending Audi's (AUDVF) launch event for its e-tron SUV, Vertical Group analyst Gordon Johnson said he sees Audi's foray in the EV space as "a real risk" to Tesla (TSLA) and other EV auto makers including Chevy (GM) and Ford (F). The Electrify America charging network, owned by a JV of Audi parent Volkswagen (VLKAY) and funded by "Dieselgate," positions Audi's fast-charging ambitions among the most robust, if not the most robust, in the U.S. currently, added Johnson. He does not see Audi's forthcoming e-tron as a "TSLA Killer," but does not "see it a stretch to think of it as a potential TSLA Model X killer," he concludes in his note to investors. Johnson keeps a Sell rating on Tesla shares. - 09/11/18
On The Fly: Top five analyst initiations Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Krystal Biotech (KRYS) initiated with an Overweight at Cantor Fitzgerald. 2. Melinta Therapeutics (MLNT) initiated with a Buy at H.C. Wainwright and Jefferies. 3. Burlington Stores (BURL) initiated with an Overweight at Barclays. 4. General Motors (GM) reinstated with a Neutral at Goldman Sachs. 5. SailPoint (SAIL) initiated with a Market Perform at Northland. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. - 09/11/18
- GSCO
09/11/18
INITIATIONTarget $36
GSCO
Neutral General Motors reinstated with a Neutral at Goldman Sachs Goldman Sachs analyst David Tamberrino reinstated coverage of General Motors with a Neutral rating and $36 price target. Before going Not Rated on the name, Goldman had a Sell rating on the shares. The path forward for the shares is "somewhat murky" with a "more challenged" backdrop in North America and growing concerns about the potential for China joint venture income to see further pressure, Tamberrino tells investors in a research note. The analyst sees positives from GM's pickup truck refresh and Korea restructuring accruing in 2019, but still expects a "downward trajectory" to earnings and free cash flow next year. However, he believes the market is prepping for a flat-to-down earnings trajectory and views the stock's risk/reward as balanced at current levels. - 09/11/18
- RBCM
09/11/18
NO CHANGETarget $49
RBCM
Outperform General Motors valuation reflects 'low expectations', says RBC Capital RBC Capital analyst Joseph Spak kept his Outperform rating and $49 price target on General Motors after hosting meetings with its CEO Mary Barra and CFO Dhivya Suryadevara. The analyst says he remains positive on the company's execution, adding that while investors are focused on China and the direction of earnings in FY19, he believes that the market expectations are already "very low" with forward valuation multiple ex-Cruise and ex-cash at just over 3.5-times earnings. Spak also cites the positives for General Motors from the " recovering volume on light-duty pickups", cost savings, and expectations of strong performance in the mid-size CUV class. - $9.39
-0.195 (-2.03%) - 08/14/18
- NOMU
08/14/18
NO CHANGETarget $9
NOMU
Neutral Ford price target lowered to $9 from $10 at Nomura Instinet Nomura Instinet analyst Anindya Das lowered his price target for Ford to $9 after reducing fiscal 2018 earnings per share estimate by 17% to $1.20. The analyst lowered his outlook for Ford's Asia Pacific operations based on first half of 2018 sales trends and also sees Europe becoming more difficult. Das keeps a Neutral rating on Ford shares. - 08/20/18
- MSCO
08/20/18
NO CHANGETarget $15
MSCO
Overweight Ford risks high, but so is potential reward, says Morgan Stanley Morgan Stanley analyst Adam Jonas believes Ford announcing plans to spend $11B on restructuring and then canceling its investor day may have may have the unintended consequence of raising expectations for a "big bang" of action. While acknowledging the wide range of potential outcomes, Jonas has an estimate for how Ford could recognize its planned $11B in restructuring charges over a 3-5 year period to achieve annual cost reductions of about $4B, giving it a payback period of just under 3 years that would "usually [be] a very good use of capital" by automotive standards, he tells investors. Jonas maintains an Overweight rating on Ford with a $15 price target, contending that the "risks are high, but so is the potential reward." - 09/10/18
- SBSH
09/10/18
NO CHANGETarget $9.9
SBSH
Neutral Ford price target lowered to $9.90 from $10.50 at Citi Citi analyst Itay Michaeli lowered his price target for Ford (F) to $9.90 to reflect restructuring-related calls on cash. The analyst keeps a Neutral rating on the shares and continues to maintain his preference for General Motors (GM). Ford faces both fundamental and perception problems, whereas GM just faces the latter, Michaeli tells investors in a research note. While the company must deal with some legitimate China and trade headwinds, the degree of erosion that's implied by the pullback in the shares is overdone, the analyst contends. - $18.00
-0.315 (-1.72%) - 07/17/18
- JEFF
07/17/18
NO CHANGETarget $25
JEFF
Buy Santander Consumer, Fiat Chrysler tolling agreement doesn't change much, says Jefferies Jefferies analyst John Hecht notes that Santander Consumer (SC) and Fiat Chrysler (FCAU) entered a tolling agreement that allows both parties additional time to assess their rights, obligations, claims, etc. while not having to worry about the statute of limitations. The analyst believes the tolling agreement does not change much of what is going on. Nonetheless, Hecht notes that the companies also acknowledged they are working to resolve the matter tied to the captive finance, with the agreement indicating that a resolution on this matter may come in months rather than quarters. He reiterates a Buy rating and $25 price target on Santander Consumer shares. - 07/10/18
- UBSW
UBS upgrades Fiat Chrysler to Buy ahead of Q2 results UBS analyst Patrick Hummel upgraded Fiat Chrysler (FCAU) to Buy from Neutral with a price target of EUR 23. The analyst expects the company's "positive volume/mix impact story" to continue in Q2 even with the ramp of the new RAM 1500 truck unlikely to be completed until Q3. Fiat shares should deliver the best earnings momentum among the European car manufacturers in the coming quarters, Hummel tells investors in a research note. - 08/07/18
- MSCO
08/07/18
NO CHANGETarget $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. - 09/12/18
- EXAN
09/12/18
UPGRADEEXAN
Outperform Fiat Chrysler upgraded to Outperform from Neutral at Exane BNP Paribas Exane BNP Paribas analyst Dominic O'Brien earlier today upgraded Fiat Chrysler to Outperform from Neutral. The shares in afternoon trading are up 3%, or 48c, to $17.79. - $0.00
(0.00%) - 05/31/18
- MSCO
05/31/18
NO CHANGETarget $28
MSCO
Overweight Fiat Chrysler ending Fiat sales in U.S. would be 'sensible,' says Morgan Stanley Morgan Stanley analyst Adam Jonas said he believes that if Bloomberg is correct and Fiat Chrysler (FCAU) does plan to stop selling Fiat branded cars in North America and China it would be a "sensible recognition" of how to allocate capital over the next five years. BMW (BMWYY), including MINI, sells 21 times more cars in the U.S. than Fiat does, noted Jonas, who said Bloomberg's report appears consistent with his high-level expectation that FCA will send the message that it is cutting investment or possibly exiting areas that don't add shareholder value and "doubling down"' on brands and businesses, like Jeep, that have untapped global potential. Jonas maintains an Overweight rating on Fiat Chrysler shares with a $28 price target. - 08/06/18
- JPMS
08/06/18
UPGRADEJPMS
Neutral BMW upgraded to Neutral from Underweight at JPMorgan JPMorgan analyst Jose Asumendi upgraded BMW to Neutral with a price target of EUR 90. The shares are "too cheap to ignore" after the company confirmed its guidance, the analyst tells investors in a research note. - 08/10/18
- MSCO
08/10/18
UPGRADEMSCO
Equal Weight BMW upgraded to Equal Weight from Underweight at Morgan Stanley Morgan Stanley analyst Harald Hendrikse upgraded BMW to Equal Weight with a price target of EUR 90. - 08/23/18
- UBSW
UBS teardown finds 'numerous' quality issues with Tesla's Model 3 The UBS Evidence Lab tore down the new Tesla (TSLA) Model 3, the 2014 BMW (BMWYY) i3, and 2017 Chevy Bolt from General Motors (GM), UBS analysts led by Colin Langan tell investors in a research note. While Tesla won the first test focused on powertrain and the second test focused on electronics, it came in last on the third test, which focused on fit and finish. Teardown experts noted "numerous" Model 3 quality issues including inconsistent gaps and flushness throughout the car, missing bolts, loose tolerances, and uneven and misaligned spot welds, UBS writes in a research note partially titled "The Revolution is Over." The Model 3 car scored "below average" on the firm's fit and finish quality audit. The results confirm media reports of quality issues and are disappointing for a $49,000 car, UBS writes to investors. The winner of the third test was the Chevy Bolt, with the BMW i3 close behind. UBS believes the Bolt offers good value with a price that's over $10,000 lower than the BMW i3. - $34.91
7.29 (26.39%) - 07/31/18
- ROTH
07/31/18
NO CHANGETarget $26
ROTH
Neutral XO Group price target lowered to $26 from $28 at Roth Capital Roth Capital analyst Darren Aftahi says that while XO Group's Q2 sales results were in-line, adjusted EBITDA missed consensus estimates. The analyst believes adjusted EBITDA margins and year-over-year growth should trend down over the next two quarters as the company starts to face tougher comps and is expected to pick up marketing and product investment. He lowered his price target for XO shares to $26 from $28 and reiterates a Neutral rating on the name. - 05/03/18
- RILY
05/03/18
UPGRADETarget $32
RILY
Buy XO Group upgraded to Buy from Neutral at B. Riley FBR B. Riley FBR analyst Sameet Sinha upgraded XO Group to Buy and raised his price target for the shares to $32 from $19. The company's "solid" Q1 results indicate an acceleration in revenue growth, Sinha tells investors in a post earnings research note. - 05/03/18
On The Fly: Top five analyst upgrades Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tableau (DATA) upgraded to Neutral from Underweight at MUFG with analyst Stephen Bersey saying the company made "material progress" in its subscription transition during the first quarter, which depressed revenue and earnings in the quarter. 2. XO Group (XOXO) upgraded to Buy from Neutral at B. Riley FBR with analyst Sameet Sinha saying the company's "solid" Q1 results indicate an acceleration in revenue growth. 3. Square (SQ) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying he views last night's Q1 results as "impressive," highlighting the 31% gross payment volume growth versus last year. 4. Yum! Brands (YUM) upgraded to Outperform from Neutral at Baird. 5. 3M (MMM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Deane Dray saying the 4-month decline in the stock price has taken its valuation to its historical relative PE support level. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. - 10/12/17
10/12/17
DOWNGRADETarget $20.5
Neutral XO Group downgraded to Neutral at Roth Capital As previously reported, Roth Capital analyst Darren Aftahi downgraded Xo Group to Neutral from Buy, with a $20.50 price target, as he believes go forward expectations for modest growth are priced into shares at current levels. The analyst looks for an in-line Q3 when the company reports, driven by double-digit sales growth and improved margins. His checks indicate eCPM headwinds in Q3 for display ads. - $4.47
0.45 (11.19%) - 06/05/18
- RILY
06/05/18
NO CHANGETarget $3.5
RILY
Neutral Ascena Retail price target raised to $3.50 from $2.50 at B. Riley FBR B. Riley FBR analyst Susan Anderson raised her price target for Ascena Retail Group to $3.50 saying same-store-sales improvement drove earnings to the high end of guidance in Q3. The analyst keeps a Neutral rating on the shares. - $5.13
-4.125 (-44.59%) - 09/25/18
- RAJA
09/25/18
DOWNGRADERAJA
Outperform TG Therapeutics downgraded to Outperform from Strong Buy at Raymond James - 04/24/18
- HCWC
04/24/18
NO CHANGETarget $38
HCWC
Buy TG Therapeutics updated data 'remains robust,' says H.C. Wainwright The updated data from TG Therapeutics' (TGTX) Phase 2 study of ublituximab in patients with relapsing forms of multiple sclerosis "remains robust and consistent with previous updates," H.C. Wainwright analyst Edward White tells investors in a research note. The updated data demonstrates continued safety and efficacy with ublituximab, with sustained 99% median B-cell depletion and 100% reduction in T1 Gd-enhancing lesions, the analyst writes. More importantly, White notes, is that an annualized relapse rate of 0.05 was observed at week 24 in 48 patients, which so far is below the ARR observed with Roche's (RHBBY) Ocrevus, the only approved anti-CD20 monoclonal antibody on the market for multiple sclerosis. The analyst views this morning's data positive and reiterates a Buy rating on TG Therapeutics with a $38 price target. - 03/08/18
- RHCO
03/08/18
NO CHANGETarget $38
RHCO
Buy TG Therapeutics price target increased to $38 from $36 at SunTrust - 06/04/18
- HCWC
06/04/18
NO CHANGETarget $38
HCWC
Buy TG Therapeutics ASCO update an incremental positive, says H.C. Wainwright H.C. Wainwright analyst Edward White said he believes TG Therapeutics' poster presentation at ASCO further supports his view that umbralisib is a differentiated oral PI3K delta inhibitor. White, who notes that the Phase 3 UNITY-CLL trial remains on target for ORR data this summer, keeps a Buy rating and $38 price target on TG Therapeutics shares. - $21.05
-1.85 (-8.08%) - 07/18/18
07/18/18
DOWNGRADETarget $17
Market Perform Adtran downgraded to Market Perform after earnings at Northland As previously reported, Northland analyst Tim Savageaux downgraded Adtran (ADTN) to Market Perform from Outperform following the company's Q2 report and Q3 revenue guidance that met consensus, stating that he views the shares as fairly valued given that he believes the earnings power needed to support a higher share price is "still a ways off." While Adtran is "slowly but clearly diversifying away" from CenturyLink (CTL), Savageaux has lowered expectations for any snap-back at CenturyLink and sees slower than expected progress at other U.S. Tier 1 telecom companies, he tells investors. The analyst, who reduced his estimates for 2019, cut his price target on Adtran shares to $17 from $20. - 08/22/18
- MOFT
08/22/18
DOWNGRADETarget $19
MOFT
Sell CenturyLink downgraded to Sell from Neutral at MoffettNathanson MoffettNathanson analyst Nicholas Del Deo downgraded CenturyLink to Sell with a $19 price target. The shares closed yesterday up 13c to $23.98. - 09/25/18
- OPCO
09/25/18
NO CHANGETarget $24
OPCO
Outperform CenturyLink CFO departure raises concerns, says Oppenheimer Oppenheimer analyst Timothy Horan notes CenturyLink (CTL) has announced that CFO Sunit Patel will depart as of September 28th to join T-Mobile (TMUS) to lead the Sprint (S)/T-Mobile merger and integration efforts. The analyst expects weakness in CenturyLink's stock, as investors will likely be concerned with synergy realization after Patel's departure. While Horan says his departure is disappointing, he believes CenturyLink has a deep management bench, and Jeff Storey, CEO, will continue to be the driving force behind restructuring and expense reductions at the company. He reiterates an Outperform rating and $24 price target on the shares. - 08/16/18
- RBCM
08/16/18
NO CHANGETarget $27
RBCM
Outperform CenturyLink price target raised to $27 from $22 at RBC Capital RBC Capital analyst Jonathan Atkin raised his price target on CenturyLink to $27 and kept his Outperform rating after its "solid" Q2 results and increased FY18 guidance on "stronger-than-expected synergy realization and benefits from portfolio rationalization". The analyst believes that the company's dividend yield is also safe and its operating expense synergy targets are "beatable". Atkin further notes that although CenturyLink's consumer business is "challenged", it only constitutes about 25% of its combined revenue, and its recent Level 3 Communications transaction helps its "pivot to the enterprise business" with "better underlying economics". - $69.46
0.53 (0.77%) - 09/13/18
- KEYB
09/13/18
NO CHANGETarget $76
KEYB
Overweight Possible upside to T-Mobile sub guidance from 600MHz inclusion in iPhone, says KeyBanc KeyBanc analyst Brandon Nispel notes that T-Mobile (TMUS) CEO John Legere tweeted that the new Apple (AAPL) iPhone models include 600 MHz spectrum, which he finds important given T-Mobile has aggressively built out its 600 MHz spectrum. This should improve the performance of the network, particularly from a coverage perspective, he contends, adding that T-Mobile should be incentivized to aggressively promote the new iPhones to get consumers with mobile devices capable of using the spectrum. Nispel believes an aggressive promotion period from T-Mobile could result in upside to the company's guidance for 3.0M-3.6M branded postpaid net additions. He reiterates an Overweight rating and $76 price target on T-Mobile's shares. - 09/13/18
- RILY
09/13/18
INITIATIONTarget $46
RILY
Buy Shenandoah initiated with a Buy at B. Riley FBR B. Riley FBR analyst Zack Silver started Shenandoah Telecommunications (SHEN) with a Buy rating and $46 price target. The analyst sees the company benefiting from the merger between Sprint (S) and T-Mobile (TMUS). - 09/20/18
- OPCO
09/20/18
NO CHANGEOPCO
Outperform T-Mobile, AT&T 'top large-cap picks' in telecom, says Oppenheimer Oppenehimer analyst Timothy Horan previewed the telecom outlook for 2H18, telling investors in a research note that he believes the communications sector has bottomed relative to the market and expects to see stronger 2H performance. Horan says T-Mobile (TMUS) and AT&T (T) are his top large-cap picks, and Boingo Wireless (WIFI) and Zayo Group (ZAYO) will also benefit as carriers invest in their networks in preparation for 5G. Horan also expects T-Mobile to outperform as it continues to take share and see margin improvement. - $6.40
0.01 (0.16%) - 06/28/18
On The Fly: Top five analyst upgrades Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Air Transport Services (ATSG) upgraded to Buy from Hold at Stifel with analyst David Ross saying shares are attractive at current levels given long-term growth prospects. 2. T-Mobile (TMUS) upgraded to Outperform from Market Perform at Wells Fargo with analyst Jennifer Fritzsche stating that recent conversations with some of his DC contacts have made him more optimistic that a deal to merge with Sprint (S) could be approved. 3. Talend (TLND) upgraded to Buy from Neutral at with analyst Tyler Radke saying a survey of Chief Data Officers shows "strong spending signals" while the company's competitive backdrop is favorable amid "increasing cloud tailwinds". 4. Regions Financial (RF) upgraded to Neutral from Underperform at Baird with analyst David George citing the recent pullback, which he thinks has made the valuation more reasonable. 5. Twilio (TWLO) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the pullback in the stock price has created a more favorable entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. - 08/07/18
- SBSH
Citi credit sees 80% chance of T-Mobile, Sprint merger approval Citi credit analyst David Phipps believes T-Mobile (TMUS) and Sprint (S) have an 80% chance of winning approval for their proposed merger. The market regularly puts merger approval odds at 50/50, Phipps tells investors in a fixed income research note. The analyst remains bullish on Sprint credit. |