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INTC

Intel

$48.77

0.67 (1.39%)

, GM

General Motors

$34.01

0.7 (2.10%)

07:35
10/04/18
10/04
07:35
10/04/18
07:35

Unusual call flow in option market yesterday

Notable call activity was cited Wednesday in Intel (INTC), General Motors (GM), Roku (ROKU), Caesars (CZR), Southwestern Energy (SWN), Constellation Brands (STZ), Itau Unibanco (ITUB), International Game (IGT), Hi Crush (HCLP), and Hilton (HLT).

INTC

Intel

$48.77

0.67 (1.39%)

GM

General Motors

$34.01

0.7 (2.10%)

ROKU

Roku

$72.57

1.03 (1.44%)

CZR

Caesars

$10.32

-0.015 (-0.15%)

SWN

Southwestern Energy

$5.34

0.17 (3.29%)

STZ

Constellation Brands

$210.82

-1.9 (-0.89%)

ITUB

Itau Unibanco

$12.14

0.655 (5.70%)

IGT

International Game

$18.95

0.335 (1.80%)

HCLP

Hi-Crush Partners

$11.09

-0.26 (-2.29%)

HLT

Hilton

$76.54

-0.52 (-0.67%)

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INTC Intel
$48.77

0.67 (1.39%)

10/02/18
RBCM
10/02/18
NO CHANGE
Target $29
RBCM
Outperform
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.
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.
GM General Motors
$34.01

0.7 (2.10%)

09/19/18
VERF
09/19/18
NO CHANGE
VERF
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
GSCO
09/11/18
INITIATION
Target $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 CHANGE
Target $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.
09/11/18
09/11/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. 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.
ROKU Roku
$72.57

1.03 (1.44%)

10/01/18
NEED
10/01/18
NO CHANGE
Target $85
NEED
Buy
Roku price target raised to $85 from $60 at Needham
Needham analyst Laura Martin raised her price target on Roku (ROKU) to $85 and kept her Buy rating, even as its 213% stock price advance over the past 12 months has vastly outperformed the broader market. The analyst cites the company's "execution excellence, total addressable market expansion, reduced capital intensity / competitive risk, and a transition "from experimental to mainstream ad budgets". Martin adds that Roku has positioned itself as a "key takeover target" while offering a better valuation profile of 9.1-times expected forward revenue than that of Netflix (NFLX) at 9.7-times. The analyst further notes that Roku's margin, content risk, and event upside make it a better bet than Netflix.
09/10/18
WBLR
09/10/18
NO CHANGE
WBLR
Outperform
Ad agency feedback 'strongly bullish' for Roku, says William Blair
After hosting an investor lunch featuring an executive from a "large, global advertising agency whose team runs hundreds of millions of dollars in digital video spending annually," William Blair analyst Ralph Schackart says he sees a shifting tone surrounding Roku's positioning within over-the-top "from cautiously optimistic to strongly bullish." The executive expects her agency to spend $40M Roku this year, or about 10% of Roku's estimated platform revenue, Schackart tells investors in a research note. By 2021, the executive expects at least 50% of her digital video budget to go towards OTT environments such as hardware, game consoles, smart TVs, including a tripling of spending in 2018. She believes Roku is the strongest of all the OTT platforms, even relative to game consoles, the analyst adds. Schackart keeps an Outperform rating on shares of Roku. The stock in premarket trading is up $1.08, or 2%, to $66.31.
09/11/18
KEYB
09/11/18
NO CHANGE
Target $81
KEYB
Overweight
Roku price target raised to $81 from $67 at KeyBanc
KeyBanc analyst Evan Wingren raised his price target for Roku to $81 from $67 and said he continues to recommend buying the stock. His checks point to potential upside to his Q3 estimates and continued adoption of ad-supported streaming, including The Roku Channel. Meanwhile, a relatively new OEM win continues to point to the value of the operating system, he contends. The analyst reiterates an Overweight rating on the shares.
09/12/18
SBSH
09/12/18
NO CHANGE
Target $72
SBSH
Buy
Roku price target raised to $72 from $50 at Citi
Citi analyst Mark May raised his price target for Roku to $72 to reflect an increase in his long-term assumptions for Platform revenue. Roku's strategy is to expand the Roku Channel off of the Roku platform, and the results have exceeded expectations, May tells investors in a research note. He keeps a Neutral rating on Roku shares.
CZR Caesars
$10.32

-0.015 (-0.15%)

10/01/18
RHCO
10/01/18
INITIATION
Target $13
RHCO
Buy
Caesars assumed with a Buy at SunTrust
SunTrust analyst Barry Jonas assumed Caesars with a Buy rating and a price target of $13 as part of his broader "U.S. Gaming" coverage transfer research report. The analyst is positive on the company's "material margin upside potential given its increasing focus on technology and analytics to rationalize costs" as well as its "M&A/development optionality driven by its leading Total Rewards player rewards database".
09/24/18
FBCO
09/24/18
NO CHANGE
FBCO
Caesars defended at Credit Suisse
09/24/18
09/24/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Idera Pharmaceuticals (IDRA) initiated with an Overweight at Barclays. 2. Caesars (CZR) Entertainment initiated with a Sell at UBS. 3. GreenTree Hospitality (GHG) initiated with a Neutral at Goldman Sachs. 4. AMD (AMD) initiated with an Outperform at RBC Capital. 5. Vonage (VG) assumed with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/24/18
UBSW
09/24/18
INITIATION
Target $9
UBSW
Sell
Caesars Entertainment initiated with a Sell at UBS
UBS analyst Robin Farley started Caesars Entertainment with a Sell rating and $9 price target. The company, with essentially no revenue growth in the last year and EBITDA growth coming through reduction in marketing expenses, faces a challenging environment, Farley tells investors in a research note. With the competitive environment in Las Vegas becoming more challenging, it may be difficult to cut much more marketing expense, putting EBITDA growth at risk, the analyst contends.
SWN Southwestern Energy
$5.34

0.17 (3.29%)

09/26/18
09/26/18
DOWNGRADE
Target $23

Equal Weight
Morgan Stanley downgrades Cabot Oil to Equal Weight on lower nat gas price view
As previously reported, Morgan Stanley analyst Devin McDermott downgraded Cabot Oil & Gas (COG) to Equal Weight from Overweight after lowering his long-term natural gas price forecast to $2.50 from $2.75 and increasing his price assumptions for ethane in late 2018 and 2019. He also lowered his price target on Cabot shares to $23 from $29. U.S. natural gas should soon enter a new cycle of structural oversupply and stagnating demand, contends McDermott. Given that view, and the fact that oil weighted E&Ps trade at similar multiples to nat gas producers, McDermott remains Underweight on nat gas producers Range Resources (RRC), Gulfport Energy (GPOR) and Southwestern Energy (SWN).
09/06/18
BMOC
09/06/18
DOWNGRADE
BMOC
Market Perform
Southwestern Energy downgraded to Market Perform at BMO Capital on asset sale
As reported earlier, BMO Capital analyst Dan McSpirit downgraded Southwestern Energy to Market Perform from Outperform and kept his price target at $7 citing the recent sale of its Fayetteville Shale operation. The analyst notes that the sale leaves the company as a "pure play Appalachian Basin producer"with a more capital-intensive business in the immediate term requiring a larger "cash flow outspend". McSpirit also points to the "still-challenging operating environment for gas producers" and BMO's "less than bullish view" on the commodity.
09/06/18
BMOC
09/06/18
DOWNGRADE
BMOC
Market Perform
Southwestern Energy downgraded to Market Perform from Outperform at BMO Capital
09/05/18
RILY
09/05/18
NO CHANGE
Target $10
RILY
Buy
Southwestern Energy recent selloff unwarranted, says B. Riley FBR
B. Riley FBR analyst Rehan Rashid views the recent underperformance of Southwestern Energy shares as unwarranted. The analyst keeps a Buy rating on the shares with a $10 price target.
STZ Constellation Brands
$210.82

-1.9 (-0.89%)

10/03/18
JEFF
10/03/18
NO CHANGE
Target $283
JEFF
Buy
Constellation Brands called top large cap growth idea at Jefferies
Jefferies analyst Kevin Grundy calls Constellation Brands a top large cap growth idea and keeps a Buy rating on the shares with a $283 price target. The analyst believes the setup for Constellation is favorable into its Q2 results on October 4 citing "strong" beer sales and an "attractive" valuation. While fiscal 2019 earnings guidance is likely to be revised lower on Canopy, this is largely expected and the second half of the year should improve on continued beer sales momentum and anticipated margin expansion, Grundy tells investors in a research note.
10/01/18
SUSQ
10/01/18
NO CHANGE
Target $165
SUSQ
Negative
Constellation Brands price target cut to $165 from $171 at Susquehanna
Susquehanna analyst Pablo Zuanic cut his price target on Constellation Brands to $165 from $171, telling investors in a research note that he rates the stock a Negative on Mexican beer deceleration risk, misplaced market expectations about beer profit margin growth and significant reinvestment risk. Zuanic also says he believes the current FY19 PE of 24x is "excessive" for a company guiding for about 10% EPS growth.
09/28/18
OTRG
09/28/18
UPGRADE
OTRG
Positive
Constellation Brands upgraded to Positive from Mixed at OTR Global
09/25/18
09/25/18
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: TENARIS DOUBLE UPGRADED TO BUY: BofA Merrill Lynch analyst Joao Vicor Lorenzi double upgraded Tenaris (TS) to Buy from Underperform and raised his price target on shares to $40 from $30. Lorenzi expects Tenaris to benefit from a sustained, broad based recovery in its end markets that should result in a muli-year period of strong earnings momentum. The analyst also said the recent pullback in shares has created a compelling buying opportunity. In late morning trading, Tenaris shares are higher by 5.3%. CITI UPGRADES BARRICK TO BUY: Citi analyst Alexander Hacking upgraded Barrick Gold (ABX) to Buy from Neutral and raised his price target for the shares to $14 from $11, saying the company's acquisition of Randgold (GOLD) is a win for Barrick on two levels. One, Barrick management gets an upgrade to the most successful CEO in the sector, which adds "significant credibility" to its turnaround. Two, the deal solidifies Barrick's capital allocation by removing the acquisition overhang and accelerating assets sales, the analyst added. RAYMOND JAMES CUTS INTEL TO UNDERPERFORM: Raymond James analyst Chris Caso downgraded Intel (INTC) to Underperform from Market Perform based on sector cyclical concerns following checks in Asia. Caso's checks indicate there has been a negative sentiment shift during the month of September among suppliers, with several trends clearly worsening. The analyst has concluded that the the semiconductor sector has entered a cyclical downturn and has made a broad call to downgrade nearly all of his stocks under coverage. For Intel, Caso said the company's CPU shortages are well-know, but recent checks suggest shortages on some new high margin SKUs, which will limit near-term upside. SIRIUS CUT TO NEUTRAL FOLLOWING PANDORA ACQUISITION: 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 said. 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. BENCHMARK STARTS CANOPY WITH A BUY: Benchmark analyst Mike Hickey initiated Canopy Growth (CGC) with a Buy rating and C$100 price target, citing Canopy's early leadership in the medical cannabis market and upcoming legalization of recreational cannabis in Canada and the meaningful investment from Constellation Brands (STZ). That investment accelerates the ongoing build-out of its international production and distribution operations and domestic retail infrastructure to meet rapidly growing global demand, Hickey said.
ITUB Itau Unibanco
$12.14

0.655 (5.70%)

06/05/18
SBSH
06/05/18
UPGRADE
SBSH
Buy
Itau Unibanco upgraded to Buy from Neutral at Citi
03/14/18
SCOT
03/14/18
DOWNGRADE
SCOT
Underperform
Itau Unibanco downgraded to Underperform from Sector Perform at Scotiabank
03/05/18
FBCO
03/05/18
UPGRADE
FBCO
Outperform
Itau Unibanco upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Marcelo Telles upgraded Itau Unibanco to Outperform and raised his price target for the shares to R$60 from R$48. The analyst views the company as well positioned for the credit cycle and believes its earnings momentum will be stronger than expected.
12/11/17
DBAB
12/11/17
UPGRADE
Target $16
DBAB
Buy
Itau Unibanco upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Tito Labarta upgraded Itau Unibanco to Buy and raised his price target for the shares to $16 from $11. After spending time in Brazil, the analyst has increased confidence that the economy is recovering. Labarta likes Itau's excess capital, high coverage ratio and "strong" dividend yield.
IGT International Game
$18.95

0.335 (1.80%)

10/01/18
RHCO
10/01/18
INITIATION
Target $21
RHCO
Hold
International Game initiated with a Hold at SunTrust
SunTrust initiated International Game with a Hold and $21 price target.
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.
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.
10/01/18
RHCO
10/01/18
INITIATION
Target $21
RHCO
Hold
International Game initiated with a Hold at SunTrust
As noted earlier, SunTrust analyst Barry Jonas initiated International Game with a Hold rating and a price target of $21. The analyst states that while he is positive on the company's "defensive lottery business and stable gaming business" as well as the more reasonable valuation, he sees shares potentially range-bound in the short run until "meaningful capital returns" begin as soon as next year.
HCLP Hi-Crush Partners
$11.09

-0.26 (-2.29%)

10/03/18
JRCO
10/03/18
DOWNGRADE
JRCO
Hold
Hi-Crush Partners downgraded to Hold from Accumulate at Johnson Rice
Johnson Rice analyst Martin Malloy downgraded Hi-Crush Partners to Hold from Accumulate citing recent share outperformance. Malloy also reduced estimates to reflect lower foretasted contribution margin per ton and cut its price target to $14 from $17.
10/03/18
10/03/18
DOWNGRADE

Neutral
Hi-Crush Partners downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse analyst Jim Wicklund downgraded Hi-Crush Partners to Neutral from Outperform. The analyst notes that the weakness that has rippled through the frack sand subsector since August came sooner than he expected. The ferocity of price competition, based on commentary from the sand companies in addition to their OFS and E&P customers, is also greater than he had expected, he adds.
10/03/18
10/03/18
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. Nike (NKE) downgraded to Hold from Buy at HSBC with analyst Erwan Rambourg saying while the company's Q1 results were strong and the outlook "remains rock solid," the company's valuation multiple of 30-times forward earnings may weigh on the stock. 2. Oracle (ORCL) downgraded to In Line from Outperform at Evercore ISI with analyst Kirk Materne saying even though growth is expected to accelerate modestly in the second half of this year, there are not enough catalysts for share to "meaningfully re-rate" from current levels, adding that the risk-reward appears balanced following this summer's rally. 3. Honda (HMC) downgraded to Outperform from Buy at CLSA with analyst Christopher Richter saying demand for its vehicles appears to be leveling out in North America, China and Japan. 4. Asbury Automotive (ABG) downgraded to Neutral from Buy at Buckingham. 5. Hi-Crush Partners (HCLP) downgraded to Hold from Accumulate at Johnson Rice and to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/18
10/03/18
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. HSBC CUTS NIKE TO HOLD: HSBC analyst Erwan Rambourg downgraded Nike (NKE) to Hold from Buy and kept his $92 price target on shares. The analyst noted that while the company's Q1 results were strong and the outlook "remains rock solid", the company's valuation multiple of 30-times forward earnings may weigh on the stock. EVERCORE CUTS ORACLE TO IN LINE: Evercore ISI analyst Kirk Materne downgraded Oracle (ORCL) to In Line from Outperform with a price target of $53 to reflect the update of his model into FY20. The analyst noted that even though growth is expected to accelerate modestly in the second half of this year, there are not enough catalysts for share to "meaningfully re-rate" from current levels, adding that the risk-reward appears balanced following this summer's rally. CIGNA BOOSTED TO CONVICTION BUY AT GOLDMAN: Goldman Sachs analyst Stephen Tanal added Buy-rated Cigna (CI) to his firm's Conviction List and raised his price target for the shares to $250 from $227. After revisiting the company's fundamental story, the analyst continues to believe Cigna is well positioned to take share of the U.S. commercial market. He believes fundamentals support a higher standalone multiple. CREDIT SUISSE DOWNGRADES HI-CRUSH, COVIA: Credit Suisse analyst Jim Wicklund downgraded Hi-Crush Partners (HCLP) to Neutral from Outperform and Covia (CVIA) to Underperform from Neutral. The analyst noted that the weakness that has rippled through the frack sand subsector since August came sooner than he expected. The ferocity of price competition, based on commentary from the sand companies in addition to their OFS and E&P customers, is also greater than he had expected, he added. In late morning trading, Hi-Crush was down almost 2%, while Covia was down just over 4%. GOLDMAN RAISES ALIBABA'S PRICE TARGET: Goldman Sachs analyst Piyush Mubayi reiterated a Buy rating on Alibaba (BABA) and raised his price target to $247 from $241. The analyst predicts strong growth in the cloud computing and financial businesses for the company, and expects Alibaba to continue to invest for future growth on "multiple fronts," including retailing, digital advertising and entertainment, which he believes will be a total addressable market of about RMB80T by the end of 2020.
HLT Hilton
$76.54

-0.52 (-0.67%)

09/07/18
LBOW
09/07/18
INITIATION
Target $96
LBOW
Buy
Hilton initiated with a Buy at Longbow
Longbow analyst Alton Stump initiated Hilton with a Buy and $96 price target given accelerating RevPAR growth, potential accelerating net room count growth, and a favorable economic landscape.
08/16/18
BERN
08/16/18
DOWNGRADE
BERN
Market Perform
Hilton downgraded to Market Perform from Outperform at Bernstein
08/28/18
RHCO
08/28/18
INITIATION
Target $14
RHCO
Buy
Playa Hotels & Resorts initiated with a Buy at SunTrust
SunTrust analyst C. Patrick Scholes initiated Playa Hotels & Resorts with a Buy rating and a price target of $14, saying the company's growth strategy through and beyond 20201 is "highly compelling". The analyst sees annualized adjusted EBITDA growth through 2021 at 15% or more, which is the highest growth rate in the period across his hotel coverage group. Scholes adds that leisure demand has been strong, with an increase in consumer interest toward the "high-quality all-inclusive resorts" and notes that Playa Hotels may become the "first adopter of an all-inclusive brand from Hilton (HLT) and/or Marriott (MAR)" in the near future.
08/17/18
BERN
08/17/18
DOWNGRADE
BERN
Market Perform
Hilton downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst David Beckel downgraded Hilton (HLT) to Market Perform from Outperform, telling investors that Hilton's current valuation fairly reflects his expectation of an environment in which U.S. RevPAR and unit growth decelerate over the next 12 months, potentially faster than currently forecast. He expects a combination of slowing growth and a lack of catalysts will limit upside for both Hilton and Market Perform-rated Marriott (MAR) during that time.

TODAY'S FREE FLY STORIES

FUN

Cedar Fair

$55.07

0.88 (1.62%)

07:28
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TIF

Tiffany

$84.51

2.27 (2.76%)

07:26
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07:26
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Tiffany analyst commentary  »

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  • 28

    Aug

NVO

Novo Nordisk

$51.82

0.54 (1.05%)

07:26
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Novo Nordisk says EC grants extension of indication for Fiasp »

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  • 09

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AZN

AstraZeneca

$45.42

0.8 (1.79%)

07:24
08/22/19
08/22
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07:24
Hot Stocks
AstraZeneca agrees to buy FDA Priority Review Voucher from Sobi for $95M »

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AAPL

Apple

$212.69

2.34 (1.11%)

07:23
08/22/19
08/22
07:23
08/22/19
07:23
Periodicals
Apple plans to launch Pro iPhones with 3-sensor camera systems, Bloomberg says »

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AZN

AstraZeneca

$45.42

0.8 (1.79%)

, FGEN

FibroGen

$44.90

0.36 (0.81%)

07:23
08/22/19
08/22
07:23
08/22/19
07:23
Hot Stocks
AstraZeneca says Roxadustat approved in China for new anemia indication »

AstraZeneca (AZN)…

AZN

AstraZeneca

$45.42

0.8 (1.79%)

FGEN

FibroGen

$44.90

0.36 (0.81%)

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

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  • 02

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DK

Delek US

$33.35

0.555 (1.69%)

07:22
08/22/19
08/22
07:22
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07:22
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Delek US rating change  »

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PDD

Pinduoduo

$30.14

4.165 (16.04%)

07:22
08/22/19
08/22
07:22
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07:22
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Pinduoduo analyst commentary  »

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WORK

Slack Technologies

$30.81

0.315 (1.03%)

, MSFT

Microsoft

$138.77

1.52 (1.11%)

07:22
08/22/19
08/22
07:22
08/22/19
07:22
Initiation
Slack Technologies, Microsoft initiated  »

Slack Technologies…

WORK

Slack Technologies

$30.81

0.315 (1.03%)

MSFT

Microsoft

$138.77

1.52 (1.11%)

03/08/13
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  • 04

    Sep

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    Oct

MSGN

MSG Networks

$14.78

-2.07 (-12.28%)

07:21
08/22/19
08/22
07:21
08/22/19
07:21
Recommendations
MSG Networks analyst commentary  »

MSG Networks price target…

03/08/13
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03/08/13
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TGT

Target

$103.11

17.54 (20.50%)

07:19
08/22/19
08/22
07:19
08/22/19
07:19
Recommendations
Target analyst commentary  »

Target price target…

03/08/13
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  • 15

    Sep

  • 19

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    Sep

MSG

Madison Square Garden

$260.99

-6.38 (-2.39%)

07:19
08/22/19
08/22
07:19
08/22/19
07:19
Initiation
Madison Square Garden initiated  »

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03/08/13
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LOW

Lowe's

$108.00

9.96 (10.16%)

07:16
08/22/19
08/22
07:16
08/22/19
07:16
Recommendations
Lowe's analyst commentary  »

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  • 25

    Sep

  • 20

    Nov

COO

Cooper Companies

$332.66

0.39 (0.12%)

, ESLOY

EssilorLuxottica

$0.00

(0.00%)

07:12
08/22/19
08/22
07:12
08/22/19
07:12
Recommendations
Cooper Companies, EssilorLuxottica analyst commentary  »

Cooper Companies price…

COO

Cooper Companies

$332.66

0.39 (0.12%)

ESLOY

EssilorLuxottica

$0.00

(0.00%)

03/08/13
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03/06/13
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03/06/13
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  • 29

    Aug

  • 04

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CERN

Cerner

$71.77

0.44 (0.62%)

07:12
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  • 04

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  • 09

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TGT

Target

$103.11

17.54 (20.50%)

07:12
08/22/19
08/22
07:12
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07:12
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Target analyst commentary  »

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  • 15

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SLM

Sallie Mae

$8.29

0.07 (0.85%)

07:11
08/22/19
08/22
07:11
08/22/19
07:11
Recommendations
Sallie Mae analyst commentary  »

Sallie Mae added to US…

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  • 13

    Nov

ORBC

Orbcomm

$4.84

-0.055 (-1.12%)

07:10
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07:10
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Orbcomm rating change  »

Orbcomm upgraded to Buy…

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CLSD

Clearside Biomedical

$1.27

0.09 (7.66%)

07:10
08/22/19
08/22
07:10
08/22/19
07:10
Hot Stocks
Clearside Biomedical plans to resubmit XIPERE NDA in 1Q20 »

Clearside Biomedical…

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  • 19

    Oct

RCKT

Rocket Pharmaceuticals

$11.44

0.115 (1.02%)

07:09
08/22/19
08/22
07:09
08/22/19
07:09
Hot Stocks
Rocket Pharmaceuticals announces clearance to commence Phase 2 FANCOLEN-II trial »

Rocket Pharmaceuticals…

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  • 09

    Sep

HIW

Highwoods Properties

$43.92

0.14 (0.32%)

07:09
08/22/19
08/22
07:09
08/22/19
07:09
Conference/Events
Highwoods Properties to hold a conference call »

Conference call to…

03/08/13
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  • 23

    Oct

  • 23

    Oct

MYGN

Myriad Genetics

$25.12

0.67 (2.74%)

07:08
08/22/19
08/22
07:08
08/22/19
07:08
Hot Stocks
Myriad 'applauds' USPSTF recommendation on BRCA-related cancer prevention »

Myriad Genetics announced…

03/08/13
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  • 09

    Sep

  • 13

    Nov

KSHB

KushCo Holdings

$0.00

(0.00%)

07:08
08/22/19
08/22
07:08
08/22/19
07:08
Hot Stocks
KushCo Holdings secures $50M credit facility from Monroe Capital »

KushCo Holdings announced…

03/08/13
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03/06/13
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03/06/13
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RTRX

Retrophin

$17.39

0.3 (1.76%)

07:07
08/22/19
08/22
07:07
08/22/19
07:07
Hot Stocks
Breaking Hot Stocks news story on Retrophin »

Retrophin down 25% to…

03/08/13
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03/06/13
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SRAX

Social Reality

$3.39

-0.06 (-1.74%)

07:06
08/22/19
08/22
07:06
08/22/19
07:06
Hot Stocks
Social Reality changing name to SRAX August 26th »

SRAX will formally change…

03/08/13
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03/06/13
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