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SNAP

Snap

$6.82

0.22 (3.33%)

06:13
10/12/18
10/12
06:13
10/12/18
06:13

Snap upgraded to Buy from Hold at Pivotal Research

Pivotal Research analyst Brian Wieser upgraded Snap to Buy from Hold while lowering his price target for the shares to $8 from $9. The stock closed yesterday up 22c to $6.81. The analyst says that despite declining usage and liquidity, the data he looks at is showing a "widening user base, although one which is collectively reducing its time on the platform." It is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends, Wieser tells investors in a research note. Further, the analyst believes Snap could become an attractive candidate to go private with the stock's price at current levels. Wieser views Snap's risk/reward as favorable following the recent selloff.

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SNAP Snap
$6.82

0.22 (3.33%)

10/09/18
MOFT
10/09/18
NO CHANGE
Target $6.5
MOFT
Neutral
Snap will need to raise capital before end of 2019, says MoffettNathanson
MoffettNathanson analyst Michael Nathanson said he is skeptical, despite Snap CEO Evan Spiegel's internal memo, that the company can hit his stated 2019 goal of achieving full year positive free cash flow and profitability. Snap "is quickly running out of money," contends Nathanson, who thinks the company will need to raise capital by the middle to end of 2019. The analyst lowered his revenue estimates by 7% in 2019 and 15% in 2020 as he anticipates slower DAU and ARPU growth ahead and maintains his Neutral rating on Snap shares, though he cut his price target to $6.50 from $8.
10/09/18
10/09/18
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. WALMART UPPED TO BUY AT DEUTSCHE: Deutsche Bank analyst Paul Trussell upgraded Walmart (WMT) to Buy from Hold and raised his price target for the shares to $113 from $89. The retailer is reaping returns on the many years of investment in e-commerce and customer service, Trussell said. The analyst believes Walmart is now in position to accelerate market share gains in grocery while also growing EBIT dollars and expanding return on investment. He believes Walmart's portfolio of assets is differentiated in the "rapidly changing" retail landscape. In late morning trading, Walmart is up just over 2%. KROGER CUT TO SELL AT DEUTSCHE: Deutsche Bank analyst Paul Trussell downgraded Kroger (KR) to Sell from Hold and lowered his price target for the shares to $24 from $30. Kroger's strategy to aggressively expand e-commerce capabilities, optimize space within current footprint, and compete on price "will likely be significantly more costly than the company and consensus are currently forecasting," Trussell said. The analyst, while believing Kroger may be one of the winners in food retail over the long term, thinks the "period of rapid change" in the grocery sector will likely make it challenging for the company to grow profits "while playing from a position of weakness." JEFFERIES UPGRADES BAKER HUGHES TO BUY: Jefferies analyst Brad Handler upgraded Baker Hughes (BHGE) to Buy from Hold and raised his price target for the shares to $38 from $34. Earnings power of $4 per share next decade "seems tangible," as is free cash flow conversion of greater than 90% of estimated earnings, Handler said. Further, he thinks General Electric (GE) "fire-sale" risk is small. MACQUARIE STARTS TESLA WITH AN OUTPERFORM: Macquarie analyst Maynard Um initiated Tesla (TSLA) with an Outperform rating and $430 price target, stating that he sees the company having unique potential among carmakers to be a leader in in-vehicle ecosystem platforms. In the near-term, Um also thinks Tesla has enough levers to get over its "debt maturity hump," including cash flow from ZEV credits and Model 3 sales, access to $1.2B unused debt commitment, and the potential for credit amendments. MOFFETTNATHANSON SAYS SNAP WILL NEED TO RAISE CAPITAL: MoffettNathanson analyst Michael Nathanson said he is skeptical, despite Snap (SNAP) CEO Evan Spiegel's internal memo, that the company can hit his stated 2019 goal of achieving full year positive free cash flow and profitability. Snap "is quickly running out of money," contends Nathanson, who thinks the company will need to raise capital by the middle to end of 2019. The analyst lowered his revenue estimates for 2019 and 2020 as he anticipates slower DAU and ARPU growth ahead and maintained his Neutral rating on Snap shares, though he cut his price target to $6.50 from $8.
10/11/18
GSCO
10/11/18
NO CHANGE
Target $11
GSCO
Buy
Snap price target lowered to $11 from $17 at Goldman Sachs
Goldman Sachs analyst Heath Terry lowered his price target for Snap (SNAP) to $11 from $17, while reiterating a Buy rating on the shares. With Snap shares down 50% since the company reported Q2 results, beyond the broader weakness in social media, the analyst believes investors are clearly focused on the impact competition is having on the company's user growth, ability to monetize, and capital needs. Terry continues to believe that a Twitter-like (TWTR) turnaround is possible, particularly as the new Android app comes out of Alpha later this quarter. However, it is unlikely that Q3 results will show any signs of that as reported DAUs decline and engagement is negatively impacted by the redesign/competition, he contends.
10/11/18
10/11/18
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. JPMORGAN UPGRADES LUMENTUM AFTER SELLOFF: JPMorgan analyst Samik Chatterjee upgraded Lumentum (LITE) to Overweight from Neutral with an unchanged price target of $80. The 19% stock decline from the highs in late August, driven by concerns relative to U.S.-China trade, over-appreciates the "modest risks" for Lumentum, Chatterjee said. He believes this creates an "attractive buying opportunity" to capitalize on the near-term improvement in the earnings outlook. GOLDMAN CUTS HUNTINGTON TO SELL: Goldman Sachs analyst Noah Poponak downgraded Huntington Ingalls Industries (HII) to Sell from Neutral and lowered his price target for the shares to $208 from $220. Poponak said Huntington is now the most expensive stock in his Defense coverage on economic, price-to-earnings and free cash flow yield. The analyst believes the stock could underperform Defense peers in the medium-term given the valuation. JEFFRIES STARTS HERBALIFE WITH A BUY: Jefferies analyst Akshay Jagdale started Herbalife Nutrition (HLF) with a Buy rating and $65 price target. After a period of "muted growth," Herbalife's sales looked poised to accelerate to a more normalized range of 5%-9%, Jagdale believes. He thinks the company should be able to grow at least in line with its total addressable market growth rate of 6%. This, coupled with margin expansion and accretive free cash flow usage, should drive "significant" earnings upside and support a "growth company valuation," Jagdale said. JPMORGAN RAISES PRICE TARGET ON NY TIMES: JPMorgan analyst Alexia Quadrani raised her price target for New York Times (NYT) to $32 and reiterated an Overweight rating on the shares ahead of the company's Q3 results. The analyst said that while quarterly subscriber growth may continue to be volatile, the company's longer-term trends are positive. She expects New York Times' growth to "remain at elevated levels for the foreseeable future." SNAP PRICE TARGET CUT AT GOLDMAN SACHS: Goldman Sachs analyst Heath Terry lowered his price target for Snap (SNAP) to $11 from $17, while reiterating a Buy rating on the shares. With Snap shares down 50% since the company reported Q2 results, beyond the broader weakness in social media, the analyst believes investors are clearly focused on the impact competition is having on the company's user growth, ability to monetize, and capital needs. Terry continues to believe that a Twitter-like (TWTR) turnaround is possible, particularly as the new Android app comes out of Alpha later this quarter. However, it is unlikely that Q3 results will show any signs of that as reported DAUs decline and engagement is negatively impacted by the redesign/competition, he said.

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United Bancorp

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LIVN

LivaNova

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KO

Coca-Cola

$45.48

0.36 (0.80%)

11:03
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KO

Coca-Cola

$45.49

0.37 (0.82%)

11:02
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11:02
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Coca-Cola raises quarterly dividend to 40c per share from 39c per share »

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KR

Kroger

$28.82

0.07 (0.24%)

11:00
02/21/19
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Options
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UAA

Under Armour

$21.26

-0.02 (-0.09%)

, UA

Under Armour

$19.22

0.025 (0.13%)

10:52
02/21/19
02/21
10:52
02/21/19
10:52
Periodicals
Under Armour CEO questioned by board about ties with MSNBC anchor, WSJ says »

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UAA

Under Armour

$21.26

-0.02 (-0.09%)

UA

Under Armour

$19.22

0.025 (0.13%)

03/08/13
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U.S. corporate bond update: issuance continues apace today »

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COUP

Coupa Software

$92.39

-1.36 (-1.45%)

10:50
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Short-term hedge opened in Coupa Software »

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10:50
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FX Action: USD-JPY »

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OHRP

Ohr Pharmaceutical

$2.01

(0.00%)

10:47
02/21/19
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10:47
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Ohr Pharmaceutical regains compliance with Nasdaq listing requirements »

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IMDZ

Immune Design

$5.81

4.385 (307.72%)

, MRK

Merck

$79.79

0.35 (0.44%)

10:46
02/21/19
02/21
10:46
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10:46
Downgrade
Immune Design, Merck rating change  »

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IMDZ

Immune Design

$5.81

4.385 (307.72%)

MRK

Merck

$79.79

0.35 (0.44%)

03/08/13
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10:45
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ANET

Arista Networks

$266.95

-3.58 (-1.32%)

10:45
02/21/19
02/21
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10:45
Conference/Events
Arista Networks has a conference call hosted by JPMorgan »

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10:45
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NKE

Nike

$83.97

-0.87 (-1.03%)

10:40
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10:40
On The Fly
Analyst sees 'minimal' lasting damage to Nike brand after Duke star's shoe splits »

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WFT

Weatherford

$0.79

-0.0263 (-3.21%)

10:40
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10.1K Weatherford Mar 1 calls trade as shares drop 2c to 80c »

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KAR

KAR Auction

$48.30

1.56 (3.34%)

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NCLH

Norwegian Cruise Line

$55.71

1.99 (3.70%)

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BSX

Boston Scientific

$40.03

-0.1 (-0.25%)

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SNPS

Synopsys

$100.68

-2.3 (-2.23%)

10:26
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NWL

Newell Brands

$17.18

0.05 (0.29%)

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