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FB

Facebook

$153.76

0.4 (0.26%)

, AAPL

Apple

$222.10

7.61 (3.55%)

12:29
10/13/18
10/13
12:29
10/13/18
12:29

Tech stocks could rebound again as risks grow, Barron's says

The good news for tech investors is that valuations remain reasonable, Al Root writes in this week's edition of Barron's. Even the FAANGs - Facebook (FB), Apple (AAPL), Amazon (AMZN), Alphabet (GOOG; GOOGL) - are not that expensive, relatively speaking, the report notes, adding that the tech stocks could rebound again but the risks are growing. Reference Link

FB

Facebook

$153.76

0.4 (0.26%)

AAPL

Apple

$222.10

7.61 (3.55%)

AMZN

Amazon.com

$1,788.63

69.51 (4.04%)

GOOG

Alphabet

$1,110.93

31.43 (2.91%)

GOOGL

Alphabet Class A

$1,120.99

29.62 (2.71%)

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    Mar

FB Facebook
$153.76

0.4 (0.26%)

10/05/18
RHCO
10/05/18
NO CHANGE
RHCO
Buy
AdExchanger data shows Facebook messenger activity 'booming', says SunTrust
SunTrust analyst Youssel Squali writes that the latest data from AdExchanger released on Wednesday suggests that over 10B messages have been exchanged between people and businesses every month, which is a 5-times increase in activity in less than two years. The analyst contends that the monetization of the Messenger platform is in its early days and represents a "massive opportunity" for Facebook. Squali has a Buy rating on Facebook stock, noting that its 10-times expected FY19 EBITDA multiple suggests that investors are pricing in "little-to-none in revenues/EBITDA from the Messenger platform".
10/08/18
FBCO
10/08/18
NO CHANGE
Target $210
FBCO
Outperform
Facebook price target lowered to $210 from $225 at Credit Suisse
Credit Suisse analyst Stephen Ju lowered his price target for Facebook to $210 from $225 as his checks with advertisers are indicating slower than expected ad budget growth as the hard cutoff date of 30 September for access to third party data on platform is negatively affecting eCPMs due to increased friction in the ad-buying process. As management has already offered Q3/Q4 guidance contemplating deceleration, this directionally should not be a surprise with the only remaining question around magnitude, he contends. Nonetheless, Ju notes that these headwinds are ultimately transitory. The analyst reiterates an Outperform rating on the shares.
10/12/18
MSCO
10/12/18
NO CHANGE
Target $175
MSCO
Overweight
Facebook price target lowered to $175 from $185 at Morgan Stanley
Morgan Stanley analyst Brian Nowak said his recent talks with advertisers about Facebook have been mixed and he believes its ad revenue growth is being negatively impacted by lackluster engagement on core Facebook, the reduction in data and targeting capabilities that is impacting advertisers' ROI and continued growth of lower-monetizing Instagram Stories engagement. He lowered his FY19 ad revenue estimate due to these headwinds and raised his 2019 operating expense view, leading Nowak to lower his price target on Facebook shares to $175 from $185. However, he keeps an Overweight rating on the stock, stating that while Facebook is going through challenges, the company has shown an ability to innovate and drive engagement and monetization.
10/11/18
NOMU
10/11/18
INITIATION
NOMU
Buy
Match Group initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Mark Kelley initiated Match Group (MTCH) with a Buy rating and $66 price target. Kelley sees Match remaining the clear leader in online dating, despite Tinder growth, the evolution of other brands such as OKCupid and PlentyOfFish, and Facebook's (FB) recent entry into dating -- which the analyst is not concerned about. Kelley estimates the global dating market, ex-China, will be $12B by 2020, and conservatively expects Match to comprise 20% of the market at that time.
AAPL Apple
$222.10

7.61 (3.55%)

10/11/18
JPMS
10/11/18
UPGRADE
Target $80
JPMS
Overweight
JPMorgan upgrades Lumentum to Overweight after 19% selloff
JPMorgan analyst Samik Chatterjee upgraded Lumentum to Overweight from Neutral with an unchanged price target of $80. The shares closed yesterday down 3%, or $1.68, to $55.58. 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 tells investors in a research note. He believes this creates an "attractive buying opportunity" to capitalize on the near-term improvement in the earnings outlook The analyst sees an improved outlook for Lumentum's telecom business on 5G investment tailwinds as well as benefits to pricing and market share in the datacom business. Further he expects "strong growth" in 3D sensing revenues on wider adoption of facial recognition technology on Apple (AAPL) iPhones and androids.
10/09/18
10/09/18
DOWNGRADE

Neutral
Coherent downgraded to Neutral on OLED timing, industrial malaise at Longbow
As previously reported, Longbow analyst Joe Wittine downgraded Coherent (COHR) Neutral from Buy based upon a potentially elongating OLED investment cycle. Wittine views Apple's (AAPL) iPhone XR/LCD dynamic as partially responsible for this extension. Should advanced LCD devices prove to have a longer shelf life, the investment cycle will face extensions, he contends. The analyst also cited the weakening seen in his Q3 industrial laser survey confirmed by IPG Photonics' (IPGP) Q3 preannouncement last week.
10/12/18
WEDB
10/12/18
UPGRADE
Target $6.5
WEDB
Outperform
Fitbit upgraded to Outperform from Neutral at Wedbush
Wedbush analyst Michael Pachter upgraded Fitbit (FIT) to Outperform from Neutral, citing the company's expansion into the healthcare/MedTech vertical. In a research note to investors, Pachter says Fitbit has captured a large share of both the smartwatch and fitness tracker markets, but its watches must compete with Apple's (AAPL) offering. He thinks Fitbit has an "excellent" opportunity ahead with MedTech, particularly in collaboration with Google (GOOG, GOOGL), and believes Fitbit may begin reporting meaningful contribution from MedTech as early as 2019. Pachter also notes that shares have recently pulled back well below his $6.50 price target, providing an opportunity to get involved in the Medtech vertical at a reasonable price.
10/10/18
BFIN
10/10/18
NO CHANGE
BFIN
BlueFin checks show Lumentum received increased orders from Apple
BlueFin analysts John Donovan and Steve Mullane say their firm's latest supply chain checks suggest "strong and stable" iPhone demand. While unit demand has not changed, the mix to higher storage models has increased, which should benefit Toshiba (TOSBF), Samsung (SSNLF), and Micron Technology (MU), Donovan and Mullane tell investors in a research note. Further, BlueFin's latest checks reveal Lumentum (LITE) has received increased orders recently while competitors II-VI (IIVI) and Finisar (FNSR) continue to focus on securing second-source positioning. The latest on the two latter companies is mixed, but overall "encouraging," the analysts contend. As far as the rumors that Apple is exploring internal VCSEL development, they believe this is "more of a negotiating tactic at this point." VCSEL demand "looks to be skyrocketing" and the frustration in developing a secure second-source has likely caused Apple to explore internal development, write Donovan and Mullane. They understand Apple has looked into fabs in Taiwan to see about VCSEL development but note the earliest this could materialize is 2020-2021. This is likely more of a "call to arms" by Apple for Finisar, II-VI, and Lumentum to increase production to meet the demand, "or else face the consequences."
AMZN Amazon.com
$1,788.63

69.51 (4.04%)

10/12/18
STFL
10/12/18
NO CHANGE
Target $200
STFL
Buy
Stifel replaces Alibaba with Amazon on Select List after target drop
Stifel analyst Scott Devitt removed Alibaba (BABA) from his firm's Select List and replaced it with Amazon.com (AMZN). The analyst cites an "increasingly uncertain" China macro environment and near-term optimism for Amazon for the change. He also updated his Alibaba model, which resulted in near-term revenue growth assumptions that are 300 basis points lower versus his prior forecast. However, despite the difficult China market backdrop, Devitt continues to view Alibaba as a core long-term holding. He lowered his price target for the shares to $200 from $220 while keeping a Buy rating on the name.
10/12/18
TIGR
10/12/18
NO CHANGE
TIGR
Amazon pullback a buying opportunity, says Tigress Financial
Tigress Financial analyst Ivan Feinseth reiterated a Buy rating on Amazon.com, citing the company's leveraging of its retail, e-commerce, and web hosting platforms to develop new business lines and penetrate new markets. The analyst believes there is significant upside in the stock and views the recent pullback as a buying opportunity.
10/08/18
FBCO
10/08/18
NO CHANGE
FBCO
Amazon adds fire to already-challenging retail cost inflation situation, says Credit Suisse
Credit Suisse analyst Michael Binetti says that Amazon's comments that it plans to lobby the government for higher minimum wages could be a catalyst for broad-based ongoing cost inflation across the U.S. retail industry. The analyst estimates that, on average, every $1 increase in wage rates could be a 30bp drag to EBIT margins and about 4%-5% drag to annualized EPS growth for U.S. retailers. The retailers with most wage-related EPS risk have a combo of low labor costs/wage rates, closest to regional minimums today and already low margins, he contends. Further, Binetti believes that Amazon's wage raise announcement timing could mean pressure to retailers' EPS guidance as early as Q4.
10/08/18
FBCO
10/08/18
NO CHANGE
FBCO
Outperform
Global brand ranking validates Microsoft rebranding efforts, says Credit Suisse
Credit Suisse analyst Brad Zelnick notes that, among top global brands, Microsoft (MSFT) ranked fourth in global brand ranking with a brand value of $92.7B, superseded only by Amazon (AMZN), Google (GOOG; GOOGL) and Apple (AAPL). The analyst believes this validates Microsoft's rebranding efforts in the Satya era, distinguished by a more open and flexible approach to customers, rivals as well as application developers. Zelnick reiterates an Outperform rating on Microsoft shares.
GOOG Alphabet
$1,110.93

31.43 (2.91%)

10/12/18
OPCO
10/12/18
NO CHANGE
Target $265
OPCO
Outperform
Baidu price target cut to $265 from $295 at Oppenheimer
Oppenheimer analyst Jason Helfstein reiterated an Outperform rating on Baidu (BIDU) but cut his price target to $265 from $295 citing valuation, higher near-term investments, as well as the firm's recently-lowered price target for Ctrip (CTRP) and the recent downward movement of iQIYI (IQ) shares. In a research note to investors, Helfstein contends that investors' concern around macro/trade war and the risk of Google's (GOOG, GOOGL) re-entrance into China are "overstated," especially the Google piece, due to increased U.S. government scrutiny.
10/10/18
JEFF
10/10/18
NO CHANGE
Target $1450
JEFF
Buy
Alphabet's Waymo the leader in autonomous vehicles, says Jefferies
After hosting an autonomous vehicle expert who recently worked at Waymo/Google X for two years, Jefferies analyst Brent Thill says the valuation of Google "remains compelling." While wide availability of autonomous vehicles is still far off, Waymo is in the lead, Thill tells investors in a research note. Further, the analyst sees "many ways" for Google to monetize the "long-dated Waymo call option." Thill points out that in October 2017, he "conservatively" valued Waymo at $75B-$125B. The analyst keeps a Buy rating on Google parent Alphabet with a $1,450 price target.
10/10/18
BARD
10/10/18
NO CHANGE
Target $1380
BARD
Outperform
Alphabet Q3 earnings should spotlight TAC improvement, says Baird
Baird analyst Colin Sebastian said he remains constructive on Alphabet shares heading into Q3 results as the company benefits from generally stable trends in core search, ongoing mobile search, diversifying revenues, ramping contributions from cloud services and further easing of TAC growth concerns. Sebastian reiterated his Outperform rating and $1,380 price target on Alphabet shares.
GOOGL Alphabet Class A
$1,120.99

29.62 (2.71%)

TODAY'S FREE FLY STORIES

PYPL

PayPal

$77.50

-2.61 (-3.26%)

07:28
10/19/18
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AEO

American Eagle

$20.94

-0.54 (-2.51%)

07:28
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07:28
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American Eagle rating change  »

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MSFT

Microsoft

07:27
10/19/18
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07:27
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Microsoft initiated  »

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ROSE

Rosehill Resources

07:27
10/19/18
10/19
07:27
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07:27
Initiation
Rosehill Resources initiated  »

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TEAM

Atlassian

$81.96

-1.67 (-2.00%)

07:27
10/19/18
10/19
07:27
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07:27
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ISRG

Intuitive Surgical

$522.41

-20.44 (-3.77%)

07:26
10/19/18
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07:26
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Intuitive Surgical rating change  »

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NCTY

The9

$1.58

0.25 (18.80%)

07:25
10/19/18
10/19
07:25
10/19/18
07:25
Hot Stocks
Jie Qin reports 7.4% stake in The9 »

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PVTL

Pivotal Software

$18.36

-0.585 (-3.09%)

07:25
10/19/18
10/19
07:25
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07:25
Initiation
Pivotal Software initiated  »

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ETFC

E-Trade

$48.89

-1.68 (-3.32%)

, AMTD

TD Ameritrade

$49.89

-1.03 (-2.02%)

07:24
10/19/18
10/19
07:24
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07:24
Recommendations
E-Trade, TD Ameritrade, Charles Schwab analyst commentary  »

E-Trade news removes bull…

ETFC

E-Trade

$48.89

-1.68 (-3.32%)

AMTD

TD Ameritrade

$49.89

-1.03 (-2.02%)

SCHW

Charles Schwab

$46.70

-1.35 (-2.81%)

03/08/13
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CHKP

Check Point

$110.75

-1.34 (-1.20%)

07:23
10/19/18
10/19
07:23
10/19/18
07:23
Initiation
Check Point initiated  »

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  • 24

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F

Ford

$8.51

-0.255 (-2.91%)

, GM

General Motors

$31.08

-0.84 (-2.63%)

07:22
10/19/18
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07:22
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07:22
Downgrade
Ford, General Motors rating change  »

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F

Ford

$8.51

-0.255 (-2.91%)

GM

General Motors

$31.08

-0.84 (-2.63%)

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07:20
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07:20
General news
FX Update: The Dollar has been choppy »

FX Update: The Dollar has…

OKE

Oneok

$66.94

-0.07 (-0.10%)

07:19
10/19/18
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07:19
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  • 31

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GBT

Global Blood Therapeutics

$38.15

2.37 (6.62%)

07:19
10/19/18
10/19
07:19
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07:19
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Global Blood Therapeutics analyst commentary  »

FDA may consider…

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  • 01

    Dec

YARIY

Yara

$0.00

(0.00%)

07:17
10/19/18
10/19
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07:17
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Yara rating change  »

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VOLVY

Volvo

$0.00

(0.00%)

07:17
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07:17
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07:17
Periodicals
Volvo CEO says doesn't expect fine from emissions probe, Bloomberg says »

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ASB

Associated Banc-Corp

07:17
10/19/18
10/19
07:17
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07:17
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Associated Banc-Corp rating change  »

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  • 15

    Nov

AXP

American Express

$102.86

-1.53 (-1.47%)

07:16
10/19/18
10/19
07:16
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07:16
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American Express analyst commentary  »

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  • 05

    Nov

ECYT

Endocyte

$23.40

7.85 (50.48%)

, NVS

Novartis

$86.24

0.9 (1.05%)

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Endocyte, Novartis rating change  »

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ECYT

Endocyte

$23.40

7.85 (50.48%)

NVS

Novartis

$86.24

0.9 (1.05%)

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07:15
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General news
Oil Action: Front-month WTI crude prices are up 0.7% »

Oil Action: Front-month…

AVXL

Anavex

$2.47

0.015 (0.61%)

07:14
10/19/18
10/19
07:14
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07:14
Hot Stocks
Anavex receives FDA approval of IND for Phase 2 trial of Anavex 2-73 »

Anavex announced that the…

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HOG

Harley-Davidson

$40.37

-1.29 (-3.10%)

07:14
10/19/18
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07:14
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Harley-Davidson rating change  »

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  • 23

    Oct

WMT

Walmart

$96.19

-0.37 (-0.38%)

07:13
10/19/18
10/19
07:13
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07:13
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  • 28

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CTSH

Cognizant

$73.60

-0.4 (-0.54%)

07:13
10/19/18
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07:13
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07:13
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    Nov

QSR

Restaurant Brands

$57.16

0.08 (0.14%)

07:12
10/19/18
10/19
07:12
10/19/18
07:12
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Restaurant Brands analyst commentary  »

Restaurant Brands'…

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  • 24

    Oct

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