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PZZA

Papa John's

$49.28

-2.04 (-3.98%)

06:39
10/02/18
10/02
06:39
10/02/18
06:39

Papa John's founder Schnatter testifies against the board, CNBC reports

Papa John's founder John Schnatter testified in court against his former board directors as he sought documents regarding his ouster in July as chairman, CNBC reports, citing the testimony. Schnatter, who still holds a 30% stake in the company, said he had a "gut feeling" the company was actively trying to push him out and that the board breached its fiduciary duties. Reference Link

  • 27

    Nov

PZZA Papa John's
$49.28

-2.04 (-3.98%)

08/27/18
08/27/18
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. First Majestic (AG) upgraded to Outperform from Market Perform at BMO Capital with analyst Ryan Thompson citing his expectations of gross margin improvement following the shutdown of the high-cost La Guitarra mine and the integration of the high-margin San Dimas mine. 2. Papa John's (PZZA) upgraded to Buy from Neutral at Kalinowski with analyst Mark Kalinowski saying he believes the reported hiring of Bank of America and Lazard increases the odds of a favorable outcome over the next 12 months, including the possibility of an acquisition. 3. Portola Pharmaceuticals (PTLA) upgraded to Neutral from Underperform at Credit Suisse with analyst Vamil Divan citing Johnson & Johnson (JNJ) and Bayer's (BAYRY) presentation of disappointing data for Xarelto in the acute medically ill population at ESC. 4. Bancolombia (CIB) upgraded to Neutral from Sell at Citi. 5. AK Steel (AKS) and Steel Dynamics (STLD) were upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/27/18
08/27/18
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 DOUBLE DOWNGRADES U.S. STEEL: Morgan Stanley analyst Piyush Sood double downgraded U.S. Steel (X) to Underweight from Overweight as he notes that steel prices are falling and he believes the recent price peak is "firmly behind" the market. Sood lowered his price target on U.S. Steel shares to $30 from $44. He prefers AK Steel (AKS), which he upgraded to Overweight from Equal Weight citing its good free cash flow prospects, and also prefers Steel Dynamics (STLD), which he also upgraded to Overweight from Equal Weight. PAPA JOHN'S UPGRADED TO BUY: Kalinowski Equity Research's Mark Kalinowski upgraded Papa John's (PZZA) to Buy from Neutral as he believes the reported hiring of Bank of America and Lazard increases the odds of a favorable outcome over the next 12 months, including the possibility of an acquisition. He noted that CNBC reports the company "isn't currently exploring a sale," but he believes a sale makes a lot of sense. BLOOM ENERGY CUT TO UNDERPERFORM: Credit Suisse analyst Michael Weinstein downgraded Bloom Energy (BE) to Underperform from Neutral, with a $24 price target on the stock, on valuation. While the analyst acknowledged the disruptive potential of Bloom Energy's technology, the stock is now trading at a premium. Although the company has shown impressive success so far, much work remains to be done to continue lowering costs and deliver next generation improvements, he contended. WEDBUSH CUTS CHIPOTLE TO UNDERPERFORM: Wedbush analyst Nick Setyan downgraded Chipotle Mexican Grill (CMG) to Underperform from Neutral and lowered his price target for the shares to $445 from $450. Setyan sees increased risk to Chipotle's near-term same-store-sales growth and margin expectations, and continues to see risk to margin expectations through 2020. Quarter-to-date checks suggest risk to the current Q3 consensus same-store-sales growth expectation, Setyan said. Further, the analyst believes that while theoretical drivers towards 2019 same-store-sales growth expectations exist, the risks are underappreciated.
09/07/18
STFL
09/07/18
NO CHANGE
Target $38
STFL
Hold
Papa John's store closure risk may be under-appreciated, says Stifel
Stifel analyst Chris O'Cull believes Papa John's domestic same-store sales remain challenged and he is surprised the company's aggressive promotions over the past several weeks have not slowed the declines. If the trend persists, it could lead to accelerating store closures in the next six months, which not only would impact royalty revenue but represents a risk to commissary profits that the Street may be under-appreciating, O'Cull tells investors. He maintains a Hold rating on Papa John's shares with a $38 price target.
09/27/18
JEFF
09/27/18
NO CHANGE
Target $58
JEFF
Buy
Jefferies continues to see upside potential in shares of Papa John's
Jefferies analyst Alexander Slagle continues to believe Q3 will represent the worst in terms of fundamentals for Papa John's (PZZA) and that "ultimate upside potential outweighs downside." The analyst recommends looking past fear of near-term trends and buying shares of Papa John's. An analysis of potential refranchising and leveraged buyout scenarios suggest there continues to be opportunities for value creation, Slagle tells investors in a research note. The analyst says that even without a buyout, there is a three-to-five year path to recovery that could return Papa John's to its normalized earnings/EBITDA levels and growth rate, potentially driving $4.00-plus of earnings per share by 2020. Slagle adds that based on this week's acquisition of Sonic (SONC) by Inspire Brands, Papa John's would be worth $63.50 per share in a buyout. He keeps a Buy rating on Papa John's with a $58 price target.

TODAY'S FREE FLY STORIES

VAR

Varian Medical

$104.25

-1.575 (-1.49%)

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NTGN

Neon Therapeutics

$8.88

0.56 (6.73%)

14:30
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14:30
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14:30
Conference/Events
Neon Therapeutics management to meet with Morgan Stanley »

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GTHX

G1 Therapeutics

$46.88

-0.07 (-0.15%)

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  • 27

    Nov

NCNA

NuCana

$18.90

1.9 (11.18%)

14:09
10/21/18
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14:09
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  • 21

    Oct

LPTX

Leap Therapeutics

$6.44

-0.17 (-2.57%)

, MRK

Merck

$72.34

0.12 (0.17%)

14:05
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Leap Therapeutics presents esophagogastric cancer data »

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Leap Therapeutics

$6.44

-0.17 (-2.57%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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INCY

Incyte

$66.09

1.66 (2.58%)

14:02
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Incyte announces positive interim data from Phase 2 trial of Pemigatinib »

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  • 22

    Oct

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    Oct

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

, BAYRY

Bayer

$0.00

(0.00%)

13:58
10/21/18
10/21
13:58
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13:58
Hot Stocks
Loxo's larotrectinib delivers 81% ORR in expanded dataset of 109 TRK fusion cancer »

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LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

BAYRY

Bayer

$0.00

(0.00%)

03/08/13
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03/06/13
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  • 21

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    Nov

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

, BAYRY

Bayer

$0.00

(0.00%)

13:53
10/21/18
10/21
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13:53
Hot Stocks
Loxo announces larotrectinib clinical update in patients with TRK fusion cancers »

Loxo Oncology (LOXO)…

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

BAYRY

Bayer

$0.00

(0.00%)

03/08/13
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  • 21

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    Nov

MRTX

Mirati Therapeutics

$40.04

-1.82 (-4.35%)

13:45
10/21/18
10/21
13:45
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13:45
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Mirati announces updated data from ongoing trial of single agent sitravatinib »

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  • 21

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    Oct

RHHBY

Roche

$0.00

(0.00%)

13:39
10/21/18
10/21
13:39
10/21/18
13:39
Hot Stocks
Entrectinib shrank tumors in people with NTRK fusion-positive solid tumors »

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  • 21

    Oct

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  • 24

    Dec

GILD

Gilead

$73.27

-0.9 (-1.21%)

, GLPG

Galapagos NV

$107.66

2.29 (2.17%)

13:34
10/21/18
10/21
13:34
10/21/18
13:34
Hot Stocks
Gilead, Galapagos NV announced data from Phase 3 FINCH2 trial of filgotinib »

Gilead Sciences (GILD)…

GILD

Gilead

$73.27

-0.9 (-1.21%)

GLPG

Galapagos NV

$107.66

2.29 (2.17%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 24

    Oct

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  • 07

    Nov

BLRX

BioLineRx

$0.98

-0.22 (-18.33%)

, MRK

Merck

$72.34

0.12 (0.17%)

13:27
10/21/18
10/21
13:27
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13:27
Hot Stocks
BioLineRx discloses additional data from Phase 2a COMBAT/KEYNOTE-202 study »

BioLineRx (BLRX)…

BLRX

BioLineRx

$0.98

-0.22 (-18.33%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
Wedge Partners
03/08/13
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  • 23

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  • 11

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  • 16

    Feb

ADAP

Adaptimmune

$10.79

-0.09 (-0.83%)

13:22
10/21/18
10/21
13:22
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13:22
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Adaptimmune presents updated data from ongoing MAGE-A10, MAGE-A4 studies »

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RHHBY

Roche

$0.00

(0.00%)

13:02
10/21/18
10/21
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13:02
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Genentech's Tecentriq, Abraxane combo demonstrates positive Phase III results »

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  • 21

    Oct

  • 07

    Nov

  • 24

    Dec

PFE

Pfizer

$44.50

0.48 (1.09%)

12:56
10/21/18
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Pfizer presents overall survival data from PALOMA-3 trial of Ibrance »

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  • 22

    Oct

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  • 07

    Nov

MRK

Merck

$72.34

0.12 (0.17%)

12:52
10/21/18
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Hot Stocks
Merck presents early data for STING agonist in advanced solid tumors/lymphomas »

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  • 23

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    Feb

DVAX

Dynavax

$10.90

-0.47 (-4.13%)

, MRK

Merck

$72.34

0.12 (0.17%)

12:47
10/21/18
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12:47
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Dynavax's SD-101, Keytruda combo still shows 70% ORR in Advanced Melanoma »

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DVAX

Dynavax

$10.90

-0.47 (-4.13%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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  • 23

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EXEL

Exelixis

$16.27

-0.25 (-1.51%)

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  • 21

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AGEN

Agenus

$1.97

-0.025 (-1.26%)

12:39
10/21/18
10/21
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Agenus presents clinical data on PD-1, CTLA-4 at ESMO 2018 »

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  • 07

    Nov

OMED

OncoMed

$2.47

-0.17 (-6.44%)

12:37
10/21/18
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OncoMed announces interim phase 1b results for Navicixizumab, Paclitaxel combo »

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IMGN

ImmunoGen

$7.44

-0.355 (-4.56%)

, MRK

Merck

$72.34

0.12 (0.17%)

12:34
10/21/18
10/21
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12:34
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ImmunoGen presents initial data from FORWARD II expansion cohort »

ImmunoGen (IMGN)…

IMGN

ImmunoGen

$7.44

-0.355 (-4.56%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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03/08/13
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03/06/13
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  • 23

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  • 02

    Nov

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    Feb

BMY

Bristol-Myers

$54.31

-1.7 (-3.04%)

12:30
10/21/18
10/21
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Opdivo, Yervoy combo shows promising results in advanced form of bladder cancer »

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  • 22

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MRK

Merck

$72.34

0.12 (0.17%)

12:26
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Merck's Keytruda shows complete response rate of nearly 40% in high-risk NMIBC »

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  • 23

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    Feb

TSRO

Tesaro

$41.81

-1.19 (-2.77%)

12:18
10/21/18
10/21
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12:18
Hot Stocks
Tesaro presents Phase 1 GARNET data of TSR-042 in MSI-H endometrial cancer »

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  • 01

    Nov

  • 07

    Nov

UDR

UDR, Inc.

09:37
10/21/18
10/21
09:37
10/21/18
09:37
Downgrade
UDR, Inc. rating change at Evercore ISI »

UDR, Inc. downgraded to…

03/08/13
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  • 30

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