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JPM

JPMorgan

$106.88

-1.18 (-1.09%)

, WFC

Wells Fargo

$52.12

0.7 (1.36%)

12:23
10/13/18
10/13
12:23
10/13/18
12:23

Banks to benefit from rising rates, other sectors may not, Barron's says

Interest rates are finally on the rise again, and investors are reeling, Avi Salzman writes in this week's edition of Barron's. The three biggest consumer banks, JPMorgan Chase (JPM), Wells Fargo (WFC), and Bank of America (BAC), should see particularly large benefits from higher rates because they have been growing deposits more quickly than the rest of the industry, the publication contends. Discount brokers such as Charles Schwab (SCHW) are among the financial outfits with the most sensitivity to higher rates, Salzman notes, adding that utilities also tend to struggle during periods of rising rates. Reference Link

JPM

JPMorgan

$106.88

-1.18 (-1.09%)

WFC

Wells Fargo

$52.12

0.7 (1.36%)

BAC

Bank of America

$28.42

0.07 (0.25%)

SCHW

Charles Schwab

$49.02

0.89 (1.85%)

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JPM JPMorgan
$106.88

-1.18 (-1.09%)

09/25/18
WOLF
09/25/18
INITIATION
Target $140
WOLF
Outperform
JPMorgan initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated JPMorgan with an Outperform and $140 price target.
10/03/18
BERN
10/03/18
NO CHANGE
BERN
Amazon to be accelerant of disruption coming for healthcare, says Bernstein
Bernstein analyst Lance Wilkes believes disruption is coming for healthcare and that Amazon (AMZN) will be an accelerant of this disruption. Further, the analyst sees a parallel with the fast changes in health insurance which took place in the 90's, when health insurance changed from 90% indemnity to 80% managed care within ten years. Wilkes thinks Amazon is developing a series of business strategies for entering healthcare market segments, namely directly entering online pharmacy, creating a disruptor in the employer healthcare space through its venture with Berkshire (BRK.A) and JPMorgan (JPM), and entering digital consumer healthcare spaces including using Alexa for consumer engagement and behavior modification.
08/22/18
DBAB
08/22/18
NO CHANGE
DBAB
JPMorgan mobile launch a catalyst for industry consolidation, says Deutsche
Deutsche Bank analyst Brian Bedell believes JPMorgan's (JPM) reported rollout of online trading to its 47M customers next week should be a catalyst for online broker industry consolidation. The analyst believes the news supports his TD Ameritrade (AMTD), E-Trade (ETFC) merger scenario thesis. He points out that his model already includes "substantial" trade price compression.
08/22/18
SBSH
08/22/18
NO CHANGE
SBSH
JPMorgan mobile trading platform 'another salvo' on online brokers, says Citi
JPMorgan's (JPM) reported zero cost mobile trading service to be launched next week is "another salvo" in the war on broker dealers' fundamentals, Citi analyst William Katz tells investors in a research note. JPMorgan's move further underscores the commoditization risk to pricing across the retail broker dealer complex, particularly online brokers, the analyst adds. Further, he believes the new product adds an additional degree of difficulty to pricing a potential E-Trade (ETFC) acquisition or other retail broker deals. The analyst's work suggests negative 3% and negative 1% earnings risk to TD Ameritrade (AMTD) and Charles Schwab (SCHW), respectively. However, Katz believes much of the negativity is already priced into Ameritrade following yesterday's selloff. For Schwab, he believes continued pressure on Investor Services presents further downside risk in the stock from here.
WFC Wells Fargo
$52.12

0.7 (1.36%)

09/28/18
UBSW
09/28/18
NO CHANGE
Target $63
UBSW
Buy
Wells Fargo app download data suggests no momentum slowdown, says UBS
UBS analyst Saul Martinez reassessed Wells Fargo client engagement and employee sentiment and found that app download data was encouraging and showed no slowdown in momentum. Employee sentiment, however, showed a material weakening. The analyst said meaningful improvements in earnings power and profitability require revenue to stabilize and the recent share weakness may be due to concerns that business momentum and top line growth will continue to lag. Martinez maintained his Buy rating and $63 price target on Wells Fargo shares.
09/25/18
WOLF
09/25/18
INITIATION
Target $71
WOLF
Outperform
Wells Fargo initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Wells Fargo with an Outperform and $71 price target.
09/12/18
JPMS
09/12/18
NO CHANGE
JPMS
Underweight
Reported OCC rejection would be negative for Wells, says JPMorgan
According to Reuters, Office of the Comptroller of the Currency regulators have rejected Wells Fargo's plan to repay its auto customers who were pushed to buy unnecessary auto insurance, JPMorgan analyst Vivek Juneja tells investors in a research note. This rejection would be a negative for Wells as it may be required to spend more and take more time to satisfy regulators, the analyst writes. He also views the news negatively overall for the bank's ongoing regulatory issues. Juneja reiterates an Underweight rating on shares of Wells Fargo.
09/17/18
EDJN
09/17/18
UPGRADE
EDJN
Buy
Wells Fargo upgraded to Buy from Hold at Edward Jones (Friday)
BAC Bank of America
$28.42

0.07 (0.25%)

09/19/18
OPCO
09/19/18
NO CHANGE
OPCO
Outperform
U.S. banks 'in very good shape,' says Oppenheimer, favorites include BofA, Citi
Oppenheimer analyst Chris Kotowski tells investors in a research note that the U.S. banking group is on solid footing with balance sheets less risky than at any time over the last 33 years the firm covered the group and says his favorite bank stocks are Outperform-rated Bank of America (BAC), Citi (C), CIT (CIT) and Goldman Sachs (GS). However, Kotowski notes that banks are trading at an average relative P/E of just ~66% relative to the S&P 500 and returning to a historical avg valuation of 73%-80% range would imply over a thousand basis points of outperformance by the group. In his view, the U.S. banks are, on the whole, in "very good" shape.
09/25/18
WOLF
09/25/18
INITIATION
Target $40
WOLF
Outperform
Bank of America initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Bank of America with an Outperform and $40 price target.
07/17/18
BARD
07/17/18
NO CHANGE
Target $30
BARD
Neutral
Baird would be buyers of Bank of America on weakness
Baird analyst David George said he would remain a buyer of Bank of America shares on any weakness, stating that its operating leverage was impressive in Q2 and should continue along with solid execution. George maintained his Neutral rating and $30 price target on Bank of America shares.
07/09/18
GSCO
07/09/18
NO CHANGE
GSCO
Bank of America, Morgan Stanley top ideas into Q2 earnings season, says Goldman Sachs
Goldman Sachs analyst Richard Ramsden expects Bank of America (BAC) and Morgan Stanley (MS) to beat consensus estimates in Q2. The analyst argues that both appear best positioned, while he sees risk for U.S. Bancorp (USB) and JPMorgan (JPM). Ramsden highlights Bank of America given the material valuation dislocation that looks to support the stock over time. Additionally, the analyst expects an expense and NII beat for Morgan Stanley.
SCHW Charles Schwab
$49.02

0.89 (1.85%)

09/19/18
JEFF
09/19/18
UPGRADE
Target $65
JEFF
Buy
Jefferies upgrades E-Trade to Buy on valuation, possible takeout upside
Jefferies analyst Daniel Fannon upgraded E-Trade (ETFC) to Buy from Hold with an unchanged price target of $65. The stock's current valuation is attractive for the core business while the financial and strategic benefits as a takeout candidate remain intact, Fannon tells investors in a research note. In a takeout scenario, Fannon thinks E-Trade could be worth as much as low $70s per share. He views TD Ameritrade (AMTD) and Charles Schwab as the most likely buyers given the expense overlaps. The analyst believes increasing competition across the Discount Brokers industry will continue to favor the firms with greater scale and revenue diversity. His favorite ideas in the group are E-Trade and Charles Schwab.
09/18/18
MSCO
09/18/18
NO CHANGE
Target $70
MSCO
Overweight
TD Ameritrade most logical buyer if E-Trade opts for sale, says Morgan Stanley
Morgan Stanley analyst Michael Cyprys noted that E-Trade (ETFC) in mid-2016 gave itself an 18- to 24-month deadline to improve core metrics or consider strategic options and that self-imposed strategic review deadline is nearing. The company plans to give an update on its review on the Q3 earnings call, likely in mid-October, he said. Of the potential acquirers identified in the media, Cyprys believes TD Ameritrade (AMTD) could possibly achieve the greatest accretion and therefore pay the most, making it the most logical buyer if E-Trade's board opts to pursue a sale. Charles Schwab (SCHW) is another potential acquirer, though he thinks such a combination could make less strategic sense. Goldman Sachs (GS) has said it is looking to build out its consumer business through mass market, but Cyprys concludes it is not the best bidder given regulatory hurdles, low synergies and low expected EPS accretion, he tells investors. The analyst keeps an Overweight rating and $70 price target on E-Trade shares.
09/25/18
WOLF
09/25/18
INITIATION
Target $54
WOLF
Underperform
Charles Schwab initiated with an Underperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Charles Schwab with an Underperform and $54 price target.
09/19/18
09/19/18
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. WELLS FARGO UPGRADES TRANSOCEAN TO OUTPERFORM: Wells Fargo analyst Judson Bailey upgraded Transocean (RIG) to Outperform and raised his price target for the shares to $16 from $13. The analyst "significantly" increased his EBITDA and net asset value estimates across the offshore drilling space to reflect increasing demand combined with tightening availability for high spec ultra-deepwater rigs. This is quickly pushing dayrate expectations higher as well as the market value for ultra-deepwater assets, Bailey tells investors. The analyst cites Transocean's deepwater leverage for his upgrade to Outperform. In late morning trading, Transocean was higher by 3.6%. JEFFERIES UPGRADES E-TRADE TO BUY: Jefferies analyst Daniel Fannon upgraded E-Trade (ETFC) to Buy from Hold with an unchanged price target of $65. The stock's current valuation is attractive for the core business while the financial and strategic benefits as a takeout candidate remain intact, Fannon said. His favorite ideas in the group are E-Trade and Charles Schwab (SCHW). In late morning trading, E-Trade was higher by 3.5%. CREDIT SUISSE UPGRADES SUNPOWER: Credit Suisse analyst Michael Weinstein upgraded SunPower (SPWR) to Outperform from Neutral and raised his target price for shares to $10 from $8. Weinstein said the news that its interdigitated back contact solar modules manufactured in Malaysia will be exempted from U.S. import tariffs won't impact 2018 earnings, as the decision doesn't explicitly call out retroactiveness, but sees a benefit to 2019 and 2020 gross profit of $35M-$40M per year vs. prior estimates. In late morning trading, SunPower was higher by 4.7%. MORGAN STANLEY SAYS OIL SERVICES INDUSTRY ATTRACTIVE: Morgan Stanley analyst Connor Lynagh upgraded the oil services, drilling and equipment industry view to attractive, and initiated 14 stocks in the sector, including top Overweight picks Baker Hughes (BHGE), Halliburton (HAL), and Transocean. GUGGENHEIM RAISES NETFLIX PRICE TARGET: Guggenheim analyst Michael Morris raised his price target for Netflix (NFLX) to $420 from $360 and kept a Buy rating on the shares. The analyst believes that Netflix "subscriber penetration will significantly exceed what is implied in the company's current valuation." He thinks the company's Q3 launch of original local-market content in India and upgrades to its user experience will support further upside in the shares.

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OHRP

Ohr Pharmaceutical

$2.01

(0.00%)

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IMDZ

Immune Design

$5.81

4.385 (307.72%)

, MRK

Merck

$79.79

0.35 (0.44%)

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MRK

Merck

$79.79

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ANET

Arista Networks

$266.95

-3.58 (-1.32%)

10:45
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Arista Networks has a conference call hosted by JPMorgan »

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NKE

Nike

$83.97

-0.87 (-1.03%)

10:40
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02/21
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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
02/21/19
02/21
10:40
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10:40
Options
10.1K Weatherford Mar 1 calls trade as shares drop 2c to 80c »

10.1K Weatherford Mar 1…

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10:40
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Treasury Action: yields have cheapened despite some disappointing data »

Treasury Action: yields…

KAR

KAR Auction

$48.30

1.56 (3.34%)

10:37
02/21/19
02/21
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10:37
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KAR Auction rating change  »

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NCLH

Norwegian Cruise Line

$55.71

1.99 (3.70%)

10:32
02/21/19
02/21
10:32
02/21/19
10:32
Recommendations
Norwegian Cruise Line analyst commentary  »

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BSX

Boston Scientific

$40.03

-0.1 (-0.25%)

10:30
02/21/19
02/21
10:30
02/21/19
10:30
Options
Bullish option flow in Boston Scientific »

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SNPS

Synopsys

$100.68

-2.3 (-2.23%)

10:26
02/21/19
02/21
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10:26
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Synopsys analyst commentary  »

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NWL

Newell Brands

$17.18

0.05 (0.29%)

10:25
02/21/19
02/21
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10:25
Periodicals
Newell Brands CEO faces board pressure following poor sales, WSJ reports »

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10:25
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Conference/Events
Morgan Stanley consumer goods analysts to hold analyst/industry conference call »

Executive Director of…

BIIB

Biogen

$323.78

-11.23 (-3.35%)

, ESALY

Eisai

$0.00

(0.00%)

10:25
02/21/19
02/21
10:25
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10:25
Conference/Events
JPMorgan large-cap biotech analysts to hold an analyst/industry conference call »

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BIIB

Biogen

$323.78

-11.23 (-3.35%)

ESALY

Eisai

$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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10:25
02/21/19
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10:25
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Conference/Events
JPMorgan retail analysts to hold an analyst/industry conference call »

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Morgan Stanley sports/footwear analyst to hold analyst/industry conference call »

Sports & Footwear…

EEM

iShares MSCI Emerging Markets ETF

$42.48

-0.175 (-0.41%)

10:20
02/21/19
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Size three-way spread in iShares Emerging Markets Fund as shares tick lower »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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10:16
Technical Analysis
NYSE market internals summary »

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10:15
02/21/19
02/21
10:15
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10:15
General news
U.S. leading index dipped 0.1% to 111.3 in January »

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HOME

At Home Group

$23.84

0.01 (0.04%)

, HLIT

Harmonic

$5.51

0.19 (3.57%)

10:11
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02/21
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10:11
Initiation
Fly Intel: Top five analyst initiations »

Catch up on today's…

HOME

At Home Group

$23.84

0.01 (0.04%)

HLIT

Harmonic

$5.51

0.19 (3.57%)

ATKR

Atkore

$24.08

-0.09 (-0.37%)

BTX

BioTime

$1.24

0.08 (6.90%)

VRCA

Verrica Pharmaceuticals

$10.99

(0.00%)

APHA

Aphria

$10.40

0.24 (2.36%)

KSHB

KushCo Holdings

$0.00

(0.00%)

HEXO

HEXO Corp

$6.11

0.13 (2.17%)

CGC

Canopy Growth

$45.44

-0.74 (-1.60%)

ACB

Aurora Cannabis

$7.18

0.12 (1.70%)

TLRY

Tilray

$80.25

-0.82 (-1.01%)

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GRMN

Garmin

$82.02

-1 (-1.20%)

, BIIB

Biogen

$324.13

-10.88 (-3.25%)

10:11
02/21/19
02/21
10:11
02/21/19
10:11
Downgrade
Fly Intel: Top five analyst downgrades »

Catch up on today's…

GRMN

Garmin

$82.02

-1 (-1.20%)

BIIB

Biogen

$324.13

-10.88 (-3.25%)

FARO

Faro Technologies

$45.51

1.73 (3.95%)

DHI

D.R. Horton

$39.91

0.04 (0.10%)

LEN

Lennar

$49.12

0.16 (0.33%)

GIS

General Mills

$46.68

-0.26 (-0.55%)

03/08/13
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