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HPQ

HP Inc.

$25.61

-0.15 (-0.58%)

, INTC

Intel

$46.46

-0.84 (-1.78%)

08:30
10/02/18
10/02
08:30
10/02/18
08:30

HP's PSG FY19 revenue seen 'flat to slightly positive', says RBC Capital

RBC Capital analyst Amit Daryanani kept his Outperform rating and $29 price target on HP Inc (HPQ) ahead of its Analyst Day tomorrow. The analyst expects the company to guide is FY19 revenue for Personal Systems Group to be "flat to slightly positive" despite the unit moderation related to Intel (INTC) CPU shortage constraints. Daryanani also anticipates the Printing group outlook to be slightly higher on supplies stabilization sustaining into FY19 and the overall free cash flow outlook in the $3.5B-$4.0B range - in line with the expected $3.7B in FY18.

HPQ

HP Inc.

$25.61

-0.15 (-0.58%)

INTC

Intel

$46.46

-0.84 (-1.78%)

  • 03

    Oct

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HPQ HP Inc.
$25.61

-0.15 (-0.58%)

08/24/18
DBAB
08/24/18
NO CHANGE
Target $30
DBAB
Buy
HP Inc. price target raised to $30 from $27 at Deutsche Bank
Deutsche Bank analyst Sherri Scribner raised her price target for HP Inc. to $30 citing last night's better than expected fiscal Q3 results. Both the Personal Systems and Printing segments grew sales in the double-digits year-over-year, Scribner tells investors in a post-earnings research note. The analyst continues to see upside potential in the shares and keeps a Buy rating on the name. HP's consistent execution, strong free cash flow generation and growth opportunities are not reflected in the shares at current levels, Scribner contends.
08/24/18
LOOP
08/24/18
NO CHANGE
Target $28
LOOP
Buy
HP's normalized PC and printer economics are undervalued, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $28 price target on HP Inc after its Q3 results, saying it was "another thesis confirming quarter" of "multiple undervalued aspects" to its investment story. The analyst notes specifically the "normalized" PC and Printer economics as well as "call option" opportunities around the new Industrial Printing and 3D Printing. Baruah contends that HP's revenue upside trajectory remains if the Office market can remain "flattish".
08/21/18
RBCM
08/21/18
NO CHANGE
Target $28
RBCM
Outperform
HP Q3 results have potential for modest upside, says RBC Capital
RBC Capital analyst Amit Daryanani kept his Outperform rating and $28 price target on HP Inc (HPQ) ahead of its Q3 earnings this Thursday. The analyst expects "in-line" results with "potential for modest upside" given the "stable" PC and printing data points during the quarter. Daryanani cites the first positive quarter of PC shipment growth in six years and relative HP outperformance as reported by Gartner. The analyst also points to the positive results from Canon (CAJ) and its Office segment.
08/21/18
LOOP
08/21/18
NO CHANGE
Target $28
LOOP
Buy
HP positioned well heading into 2019, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $28 price target on HP Inc ahead of its earnings this week, saying he "really likes" the company's position heading into 2019. Baruah anticipates "ongoing solid results" from HP's normalized PC business after the latest round of data from IDC and Gartner on PC shipments. The analyst also points out the benefits of HP's recently acquired UK-based office equipment dealer Apogee, which is " meant to amplify" HP's commitment to the A3 copier market.
INTC Intel
$46.46

-0.84 (-1.78%)

10/01/18
10/01/18
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. OPCO CUTS CHIPOTLE TO UNDERPERFORM: Oppenheimer analyst Brian Bittner downgraded Chipotle Mexican Grill (CMG) to Underperform from Perform with a $400 price target. Since its new CEO announcement in February, Chipotle is up 82% and has been upgraded 10 different times by the Street, Bittner noted. The company's "high-flying" valuation has "priced in" persistent mid-single same-store-sales and a path to at least $20 of earnings per share versus $8-$9 this year, the analyst added. His work suggests this earnings path is too optimistic, even when assuming "healthy sales." INTEL CUT TO UNDERWEIGHT BY BARCLAYS: Barclays analyst Blayne Curtis downgraded Intel (INTC) to Underweight from Equal Weight and lowered his price target for the shares to $38 from $53. End-market tailwinds that propelled the run in shares, namely PC shortages and the slowing of server growth, are likely to reverse, Curtis believes. Further, the analyst expects Intel will see increased competition from AMD (AMD) and declining free cash flow returns. In addition, the names that have been floated in the CEO search "have yet to yield any disruptive potential candidates to take on all of these challenges," Curtis said. By squandering its manufacturing lead, the company now faces a "costly battle to retain share amidst a near-term slowing of its end markets," concluded the analyst. MKM CUTS INFINERA TO SELL: MKM Partners analyst Michael Genovese downgraded Infinera (INFN) to Sell from Neutral and lowered his price target to $5.50 from $10. The analyst said his checks suggest the company's loss of its biggest customer CenturyLink (CTL) to Ciena (CIEN) amid concerns with its ability to produce "new leading edge digital signal processors every 18-30 months". Genovese expects Infinera's upcoming guidance for Q4 and FY19 to be disappointing on revenues and margins, while his price target that assumes a valuation multiple of 0.8-times enterprise value to expected FY19 sales "reflects increasing concerns about the long-term competitiveness of the company." TEVA UPGRADED AT LEERINK, GOLDMAN: Leerink analyst Ami Fadia upgraded Teva (TEVA) to Market Perform from Underperform due to improving business fundamentals as well as the improving multiples for the overall generics sector. The analyst, who believes the company's fundamentals have improved meaningfully and put Teva in a position to pay down $3.5B in debt by YE18, raised his price target on the shares to $24 from $16. Meanwhile, Goldman Sachs analyst Jami Rubin added Teva to Goldman's Conviction List with a Buy rating, calling the recent selloff in the shares a "head scratcher." Recent concerns raised in the marketplace regarding second half of 2018 headwinds and Eli Lilly's (LLY) galcenuzemab approval were already expected and well understood, Rubin tells investors in a research note. DEUTSCHE CUTS LAM RESEARCH, APPLIED MATERIALS TO HOLD: Deutsche Bank analyst Sidney Ho downgraded Lam Research (LRCX) to Hold and lowered his price target for the shares to $170 from $230, and downgraded Applied Materials (AMAT) to Hold and lowered his price target for the shares to $43 from $58. Semicap Equipment stocks are not expensive but lack positive catalysts, Ho said. The analyst believes investor fears over that the industry has reached a cyclical peak will remain as long as the memory market stays weak. Further, he sees risk is for additional capex push-outs, especially in the first half of 2019.
10/01/18
10/01/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Underweight from Equal Weight at Barclays with analyst Blayne Curtis saying end-market tailwinds that propelled the run in shares, namely PC shortages and the slowing of server growth, are likely to reverse. 2. Chipotle (CMG) downgraded to Underperform from Perform at Oppenheimer with analyst Brian Bittner saying since its new CEO announcement in February, Chipotle is up 82% and has been upgraded 10 different times by the Street. 3. AMD (AMD) downgraded to Neutral from Outperform at Baird with analyst Tristan Gerra saying while the company's fundamentals continue to improve, he believes expectations and valuation are high. 4. Huntsman (HUN) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying he sees a lack of near-term catalysts for the next few quarters "in the backdrop of a well-telegraphed normalization in MDI profits." 5. Autohome (ATHM) downgraded to Sell from Hold at 86 Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/18
CHLM
10/01/18
NO CHANGE
Target $19
CHLM
Sell
Applied Optoelectronics price target lowered to $19 from $28 at Craig-Hallum
Craig-Hallum analyst Richard Shannon lowered his price target for Applied Optoelectronics (AAOI) to $19 from $28, citing the lower guide on quality issues, likely at number one customer. The analyst believes the specific customer is Facebook (FB), where his checks indicate competitor Intel (INTC) is poised to ramp production and gain share. Since data center customers' value supply chain execution nearly as much as quality and price, Shannon worries that this action may cause Facebook to allocate share increasingly to Intel and Innolight. The analyst reiterates a Sell rating on Applied Optoelectronics shares.
10/01/18
BARD
10/01/18
DOWNGRADE
Target $28
BARD
Neutral
AMD downgraded to Neutral at Baird on high expectations, valuation
Baird analyst Tristan Gerra downgraded AMD (AMD) to Neutral from Outperform, telling investors in a research note that while the company's fundamentals continue to improve, he believes expectations and valuation are high. Gerra raised his price target to $28 from $20, but says he believes most good news are already priced in and that AMD's share gains in PCs in the face of Intel's (INTC) shortages may be limited given Intel's incremental capital investments.

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BXG

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TSLA

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MSFT

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ENT

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NOC

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LYB

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TCCO

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TEN

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TEN

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XRX

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ALLY

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