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BAC

Bank of America

$27.90

-0.52 (-1.83%)

, SHLD

Sears

$0.32

-0.0785 (-19.62%)

12:04
10/15/18
10/15
12:04
10/15/18
12:04

Fly Intel: Wall Street's top stories at midday

Stocks opened in negative territory amid building tension between the U.S. and Saudi Arabia over the disappearance of journalist Jamal Khashoggi. The market moved lower in the opening hour, but has since seen a few reversals as the averages see-saw around the flatline. The Dow is close to unchanged near noon, though the Nasdaq has fallen about 1%. ECONOMIC EVENTS: In the U.S., retail sales undershot estimates, rising 0.1% in September, and falling 0.1% excluding autos. The Empire State index rebounded 2.1 ticks to 21.1 in October. Business inventories rose 0.5%, with sales up 0.5% too in August, as expected. COMPANY NEWS: Bank of America (BAC) reported better than expected third quarter earnings and revenue, though shares were down 2.5% near midday. The slide comes despite CEO Brian Moynihan touting the bank having delivered "the highest quarterly pre-tax earnings" in the company's history, thanks to "responsible growth, backed by a solid U.S. economy and a healthy U.S. consumer"... Sears (SHLD) and certain of its subsidiaries filed voluntary petitions for Chapter 11 bankruptcy relief and announced that Edward Lampert has stepped down from his role as CEO of the company, effective immediately. Lampert said Sears and Kmart stores remain open for business as they "look toward the holiday season," and he thanks the company's vendors for "their continuing support through the upcoming season and beyond"... In M&A news, Harris Corporation (HRS) and L3 Technologies (LLL) announced a deal to combine in an all stock merger of equals. L3 shareholders will receive a fixed exchange ratio of 1.30 shares of Harris common stock for each share of L3 common stock and upon completion of the merger, Harris shareholders will own approximately 54% and L3 shareholders will own approximately 46% of the combined company. Following the merger news, L3 shares rose 9% while Harris shares gained 8%... Top executives from BlackRock (BLK) and Blackstone (BX) will no longer attend a Saudi investor conference, joining JPMorgan's (JPM) CEO and Ford's (F) chairman in pulling out of the event following the disappearance of a Saudi journalist. MAJOR MOVERS: Among the noteworthy gainers was Cambium Learning (ABCD), which rose 19.5% after it agreed to be acquired by Veritas Capital. Also higher was Canopy Growth (CGC), which gained 9% after it agreed to acquire the assets of Colorado-based hemp company Ebbu. Among the notable losers was Nutrisystem (NTRI), which fell 13% after DA Davidson analyst Linda Bolton Weiser downgraded the stock to Underperform from Neutral and cut her price target to $28 from $40. Also lower was Axon Enterprise (AAXN), which slipped 4% after Ladenburg Thalmann analyst Glenn Mattson downgraded the stock to Neutral from Buy. INDEXES: Near midday, the Dow was down 10.80, or 0.04%, to 25,329.19, the Nasdaq was down 70.81, or 0.94%, to 7,426.08, and the S&P 500 was down 8.53, or 0.31%, to 2,758.60.

BAC

Bank of America

$27.90

-0.52 (-1.83%)

SHLD

Sears

$0.32

-0.0785 (-19.62%)

HRS

Harris

$167.61

12.73 (8.22%)

LLL

L3 Technologies

$214.00

18.01 (9.19%)

ABCD

Cambium Learning

$14.42

2.37 (19.67%)

CGC

Canopy Growth

$54.55

4.76 (9.56%)

NTRI

Nutrisystem

$32.10

-5.02 (-13.52%)

AAXN

Axon

$56.91

-2 (-3.40%)

BLK

BlackRock

$426.91

-0.67 (-0.16%)

BX

Blackstone

$35.35

0.48 (1.38%)

JPM

JPMorgan

$107.62

0.74 (0.69%)

F

Ford

$8.81

0.16 (1.85%)

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BAC Bank of America
$27.90

-0.52 (-1.83%)

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.
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.
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.
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.
SHLD Sears
$0.32

-0.0785 (-19.62%)

10/12/18
MKMP
10/12/18
NO CHANGE
Target $31
MKMP
Neutral
L Brands visibility remains low despite better Sept comps, says MKM Partners
MKM Partners analyst Roxanne Meyer kept her Neutral rating and $31 price target on L Brands (LB), saying that while the company reported better than expected same store sales in September and its Victoria's Secret brand comps turned positive, its visibility remains low. The analyst lists potential catalysts for L Brands being a "strong performance of pajamas in Q4 and the reintroduction of swimwear" at VS, but also points to her "newest concern" being the likelihood of a Sears (SHLD) liquidation, which would then reduce traffic at malls where the company also has retail presence.
05/09/18
JEFF
05/09/18
NO CHANGE
Target $60
JEFF
Hold
Sears-Amazon tire partnership not a negative for Monro, says Jefferies
Jefferies analyst Bret Jordan kept his Hold rating and $60 price target on Monro (MNRO) after its stock price fell over 7.5% today to $52.70, saying Sears (SHLD) partnership with Amazon (AMZN) on tire installation and services is a not "transformational negative". Jordan notes that the greater transparency and price matching is not new, while Monro is "already an installer for other online sellers such as Tirerack and ATD's tirebuyer.com". The analyst adds that the agreement is not exclusive, leaving the "door open" for Monro to enter into a similar deal.
09/24/18
WELS
09/24/18
NO CHANGE
WELS
Outperform
Newell weakness on potential Sears bankruptcy fears overdone, says Wells Fargo
Wells Fargo analyst Bonnie Herzog believes today's weakness in shares of Newell Brands (NWL) is likely due to concerns about a potential bankruptcy of Sears (SHLD) as well as ongoing China tariff negotiations. However, she views the move as a "complete overreaction," arguing that Newell's exposure to Sears is fairly limited. Herzog, who sees today's weakness as overblown and would be a buyer amid the weakness, reiterates her Outperform rating on Newell shares, which are down 7% to $20.28 in late morning trading.
10/12/18
MSCO
10/12/18
NO CHANGE
Target $1.5
MSCO
Equal Weight
Morgan Stanley sees near-term pressure, long-term gain for Penney if Sears folds
Amid recent headlines regarding Sears (SHLD) adding a restructuring expert and reportedly pursuing a bankruptcy filing, Morgan Stanley analyst Kimberly Greenberger noted that she believes J.C. Penney (JCP) had the highest store overlap with Sears, K-Mart, and Sears Specialty Stores within both a quarter mile and half mile radius. If Sears closes additional stores or engages in liquidation sales, retailers in the close trade areas could experience some short-term pressure, said Greenberger, who added that Sears has already been closing stores for years. In the medium to long-term, she expects J.C. Penney and other retailers in the respective trade areas to potentially benefit from these closures. Greenberger, who views Penney's near-term debt maturities as "manageable," keeps an Equal Weight rating and $1.50 price target on the shares.
HRS Harris
$167.61

12.73 (8.22%)

10/15/18
COWN
10/15/18
NO CHANGE
Target $180
COWN
Outperform
L3 Technologies, Harris merger likely to be a winner, says Cowen
Cowen analysts Gautam Khanna and Cai Von Rumohr said the proposed merger between L3 Technologies (LLL) and Harris (HRS) looks like a very good fit with above average cost synergy potential. They believe the deal is likely to be a winner and although there are areas of overlap they do not believe it will be a problem. Von Rumohr reiterated his Outperform rating on L3 Technologies and Khanna reiterated his Outperform rating on Harris Corp. shares.
10/15/18
FBCO
10/15/18
NO CHANGE
Target $209
FBCO
Outperform
Harris price target raised to $209 from $190 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Harris (HRS) to $209 from $190 after the company and L3 Technologies (LLL) announced an all-stock merger of equals. The analyst believes this could be "the most strategically significant and shareholder friendly" M&A deal announced since the start of the current A&D consolidation wave. He reiterates an Outperform rating on Harris' shares.
10/15/18
JEFF
10/15/18
NO CHANGE
Target $184
JEFF
Buy
Harris, L3 should trade up 5% on merger deal, says Jefferies
Jefferies analyst Sheila Kahyaoglu believes both Harris (HRS) and L3 Technologies (LLL) should trade up 5% following the announced merger of equals. The analyst bases this on the combined company's $3B of free cash flow generation in 2022and a 6.5% free cash flow yield, discounted back. She has a Buy rating on Harris and Hold rating on L3. Harris in premarket trading is up 5.4% to $163.25 while L3 is up 6.7% to $208.89.
10/15/18
FBCO
10/15/18
NO CHANGE
Target $272
FBCO
Outperform
L3 Technologies price target raised to $272 from $238 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for L3 Technologies (LLL) to $272 from $238 after the company and Harris (HRS) announced an all-stock merger of equals. Though some may read into Harris buying L3 Technologies, the analyst sees this as a true merger of equals. He reiterates an Outperform rating on L3 Technologies' shares.
LLL L3 Technologies
$214.00

18.01 (9.19%)

ABCD Cambium Learning
$14.42

2.37 (19.67%)

03/28/18
RILY
03/28/18
INITIATION
Target $12.5
RILY
Buy
Cambium Learning initiated with a Buy at B. Riley FBR
B. Riley FBR analyst Kevin Li started Cambium Learning with a Buy rating and $12.50 price target. The analyst is positive on the company's transition from print to digital.
04/23/18
RILY
04/23/18
NO CHANGE
Target $12.5
RILY
Buy
Cambium Learning selloff Friday brings buying opportunity, says B. Riley FBR
B. Riley FBR analyst Kevin Liu believes the selloff Friday in shares of Cambium Learning Group creates a buying opportunity. The company told Bloomberg Friday afternoon that it is not aware of the reason for the stock drop. Liu reiterates a Buy rating on Cambium with a $12.50 price target. The stock closed Friday down 24% to $10.30.
CGC Canopy Growth
$54.55

4.76 (9.56%)

10/05/18
PIVT
10/05/18
NO CHANGE
Target $300
PIVT
Buy
Constellation Brands price target raised to $300 from $265 at Pivotal Research
Pivotal Research analyst Timothy Ramsey said Constellation Brands reported a "beautiful quarter" and that its core business is "growing faster than anyone believed." In terms of its investment in Canopy Growth (CGC), Ramsey said that is "very likely a masterstroke." He raised his estimates for Constellation on the heels of the report, increased his price target to $300 and keeps a Buy rating on the shares.
10/12/18
VERI
10/12/18
INITIATION
VERI
Sell
Canopy Growth initiated with a Sell at Veritas
Veritas analyst Stuart Rolfe started coverage of the Canadian Cannabis sector with four Sell ratings, including a Sell on Canopy Growth, in a note entitled "End of the Rainbow." The analyst, who sees an intrinsic value of C$30 for Canopy Growth shares, notes that investors have already driven stock valuations for the eight largest publicly traded Canadian cannabis producers to a combined market cap of $55B on trailing twelve month sales of $250M while "oversupply risks are rampant." Even assuming 60% of the black market converts, Canada's cannabis industry "looks wildly overvalued," Rolfe concludes.
10/09/18
COWN
10/09/18
NO CHANGE
Target $172
COWN
Outperform
Tilray price target raised to $172 from $62 at Cowen
Cowen analyst Vivien Azer raised her price target for Tilray (TLRY) to $172 from $62 and keeps an Outperform rating on the shares. The analyst also raised her price target for Outperform-rated Canopy Growth (CGC) to C$82 from C$74.
10/05/18
MSCO
10/05/18
NO CHANGE
Target $255
MSCO
Overweight
Constellation Brands price target raised to $255 from $251 at Morgan Stanley
Morgan Stanley analyst Dara Mohsenian believes Constellation Brands' (STZ) strong beer fundamentals in Q2 should blunt some investor concerns and continues to think that the market is not appropriately valuing the company's strong long-term growth prospects in beer. The analyst, who also views negative sentiment around the company's investment in cannabis company Canopy Growth (CGC) as overblown, keeps an Overweight rating on Constellation and raised his price target to $255 from $251.
NTRI Nutrisystem
$32.10

-5.02 (-13.52%)

10/15/18
DADA
10/15/18
DOWNGRADE
DADA
Underperform
Nutrisystem downgraded to Underperform from Neutral at DA Davidson
10/15/18
DADA
10/15/18
DOWNGRADE
Target $28
DADA
Underperform
Nutrisystem downgraded to Underperform at DA Davidson on continued discounting
As reported earlier, DA Davidson analyst Linda Bolton Weiser downgraded Nutrisystem to Underperform from Neutral and also lowered her price target to $28 from $40. The analyst says she is less confident in the company being able to achieve the over 30% growth in Q4 EBITDA implied by its guidance and believes that the management could cut its outlook, citing "anecdotal evidence" that "steep" price discounting of as high as 29% may be continuing for Nutrisystem's reactivation customers. Weiser further notes her concern over "deteriorating Google search trends for South Beach" while also lowering her FY18 EPS view to $1.99 from $2.06.
10/15/18
10/15/18
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. Parker-Hannifin (PH) and Rockwell Automation (ROK) were downgraded to Underperform from Market Perform at Cowen. 2. Nutrisystem (NTRI) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser saying she is less confident in the company being able to achieve the over 30% growth in Q4 EBITDA implied by its guidance and believes that the management could cut its outlook, citing "anecdotal evidence" that "steep" price discounting of as high as 29% may be continuing for Nutrisystem's reactivation customers. 3. KLA-Tencor (KLAC) downgraded to In Line from Outperform at Evercore ISI with analyst CJ Muse saying his recent data suggest that WFE orders are tracking to fall about 10% to $45B in FY19, but the decline could be as high as 20% if memory spending does not recover from the DRAM inventory glut-driven slump. 4. Delphi Technologies (DLPH) downgraded to Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing the "surprise" CEO transition, stating that the reasons for the change at the top are not clear. 5. Monster Beverage (MNST) downgraded to In Line from Outperform at Evercore ISI with analyst Robert Ottenstein saying he sees fitness/sports energy drinks being poised to take share from traditional energy drinks. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/14/18
DADA
09/14/18
NO CHANGE
DADA
Neutral
Nutrisystem more likely than public peers to buy Jenny Craig, says DA Davidson
After The Wall Street Journal recently reported that private equity firm North Castle Partners is seeking a buyer of Jenny Craig, DA Davidson analyst Linda Bolton Weiser said she sees "zero probability" that Medifast (MED) would acquire it and "almost zero probability" that Weight Watchers (WTW) would buy the company. Nutrisystem (NTRI), however, has already shown an interest in adding non-cannibalizing brands to its portfolio, making it the most likely buyer of Jenny Craig among the publicly-traded weight loss companies Weiser covers, she stated. Nutrisystem, which seems to have hit a wall in growing its biggest brand, may need a bold strategic move to provide visibility on growth and expansion, added the analyst. She keeps Buy ratings on Medifast and Weight Watchers and a Neutral rating on Nutrisystem shares.
AAXN Axon
$56.91

-2 (-3.40%)

09/14/18
RAJA
09/14/18
INITIATION
Target $79
RAJA
Outperform
Axon initiated with an Outperform at Raymond James
Raymond James initiated Axon with an Outperform and $79 price target.
10/15/18
LTCO
10/15/18
DOWNGRADE
LTCO
Neutral
Axon downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst Glenn Mattson downgraded Axon Enterprise to Neutral.
10/08/18
BARD
10/08/18
NO CHANGE
Target $69
BARD
Neutral
Axon product launch in mid-2019 may reduce current sales, says Baird
After attending law enforcement conference IACP this weekend, Baird analyst William Power remains positive on Axon Enterprise's Taser upgrade opportunity. The company this weekend unveiled a major new Taser and body camera and announced bundled pricing that effectively includes the highly anticipated RMS software product for free on a promotional basis, Power tells investors in a research note. The analyst, however, wonders if the mid-2019 launch timeline for the new body camera could reduce current camera sales. Power keeps a Neutral rating on Axon with a $69 price target citing valuation.
10/02/18
BARD
10/02/18
NO CHANGE
Target $69
BARD
Neutral
Baird calls new Taser from Axon a 'significant positive'
Axon Enterprise earlier today announced that it will unveil a new Taser and body camera at the IACP conference this weekend, Baird analyst William Power tells investors in a research note titled "New Taser a Significant Positive." The analyst believes a next generation Taser is likely to reinvigorate growth as the last Taser was announced over five years ago. Further, the analyst is also positive on the body camera release. However, Power keeps a Neutral rating on Axon with a $69 price target. The stock in late morning trading is down 2.5%, or $1.65, to $65.19.
BLK BlackRock
$426.91

-0.67 (-0.16%)

07/13/18
07/13/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. VF Corp. (VFC) upgraded two notches to Buy from Underperform at BofA/Merrill with analyst Robert Ohmes saying he believes Vans momentum is sustainable and will be a "go-to-brand" for the back-to-school selling season. 2. United Rentals (URI) and Herc Holdings (HRI) were upgraded to Buy from Neutral at Buckingham. 3. Raymond James (RJF) upgraded to Buy from Neutral at Citi with analyst William Katz saying he still prefers alternative managers. 4. M.D.C. Holdings (MDC) upgraded to Neutral from Underweight at JPMorgan with analyst Michael Rehaut saying the current valuation appropriately reflects his outlook for above average order growth and margin expansion in 2018. 5. BlackRock (BLK) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Robert Lee saying shares deserve a premium valuation given its strong secular position and views the recent sell-off as a buying opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/13/18
KBWI
07/13/18
UPGRADE
KBWI
Outperform
BlackRock upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Robert Lee upgraded BlackRock to Outperform saying shares deserve a premium valuation given its strong secular position and views the recent sell-off as a buying opportunity. The analyst believes BlackRock will be able to sustain an organic growth rate over time in the mid-single-digit range, driving a premium valuation versus peers. Lee trimmed his price target on BlackRock to $590 from $617.
07/17/18
GSCO
07/17/18
NO CHANGE
Target $570
GSCO
Buy
BlackRock price target lowered to $570 from $605 at Goldman Sachs
Goldman Sachs analyst Alexander Blostein lowered his price target on BlackRock to $570 after its Q2 results, which highlighted a "challenging market backdrop" along with a deceleration in the company's organic fee growth to 4% from 7%. The analyst keeps his Buy rating on BlackRock however, stating that the slowdown in fees was likely "market driven" and does not reflect "company specific weaknesses", adding that BlackRock still has the "operating flexibility to deliver above trend operating income growth, while accelerating technology revenue growth". Blostein lowers his FY18 EPS forecast to $27.57 from $27.96 and FY19 to $30.81 from $31.64 to reflect lowers asset under management levels and lower ETF fee rates partially offset by stronger technology revenues and more accretion from stock buybacks.
10/11/18
WELS
10/11/18
NO CHANGE
Target $510
WELS
Market Perform
BlackRock price target lowered to $510 from $545 at Wells Fargo
Wells Fargo analyst Christopher Harris lowered his price target for BlackRock to $510 from $545, while reiterating a Market Perform rating on the shares. Mainly because of strong U.S. equity market action, the analyst is increasing his estimate of September 30 assets under management by 1.3%. However, for the quarter, this earnings benefit is offset by lower fee-rate and performance fee assumptions, leading to a decrease in his Q3 EPS estimate.
BX Blackstone
$35.35

0.48 (1.38%)

09/24/18
JMPS
09/24/18
NO CHANGE
Target $43
JMPS
Outperform
Blackstone price target raised to $43 after investor day at JMP Securities
JMP Securities analyst Devin Ryan raised his price target on Blackstone shares to $43 from $39 following the company's investor day, from which he said the primary takeaway was the company's detailed roadmap for growth to $1T+ of AUM over the next eight years from $439B of total assets today. Ryan, who said Blackstone communicated a "clear line of sight" into $2 of fee-related earnings over the longer-term, keeps an Outperform rating on Blackstone shares.
09/24/18
SBSH
09/24/18
NO CHANGE
Target $47.5
SBSH
Buy
Blackstone price target raised to $47.50 from $43 at Citi
Citi analyst William Katz raised his price target for Blackstone to $47.50 following last week's investor day. The analyst left constructive on the Alternatives sector and impressed by the "multitude of earnings drivers" at Blackstone. He's encouraged by the company's "growing competitive moat and longer-term opportunities" and keeps a Buy rating on the shares.
09/25/18
ARGS
09/25/18
NO CHANGE
Target $46
ARGS
Buy
Blackstone price target raised to $46 from $39 at Argus
Argus analyst Stephen Biggar raised his price target on Blackstone to $46 and kept his Buy rating after its Investor Day presentation on Friday, citing the company's outlined plans to grow its assets under management to $1T from $439B currently. The analyst states that Blackstone is seeing "sees considerable growth in real estate, private equity, infrastructure, tactical opportunities and credit assets", adding that while the $1T target is "aggressive", it is also achievable, requiring "continuing cooperative economic environment and fundraising efforts". Biggar also anticipates Blackstone's "fee-related earnings component to grow significantly over the next two years" as its flagship funds reach key milestones, helping reduce earnings volatility and yielding "more consistent" dividend payouts.
09/24/18
MSCO
09/24/18
NO CHANGE
Target $48
MSCO
Overweight
Blackstone price target raised to $48 from $42 at Morgan Stanley
Morgan Stanley analyst Michael Cyprys said he came away from Blackstone's investor day more positive on the company's superior AUM and fee growth and ability to innovate. Blackstone also said a C-Corp conversion is under active consideration, which is a more positive stance than in it has expressed in the past, Cyprys tells investors. Based on expectations for strong growth in AUM, management fees and performance fee, along with the rising prospects for C-Corp conversion, Cyprys raised his price target on Blackstone shares to $48 from $42 and keeps an Overweight rating on the stock.
JPM JPMorgan
$107.62

0.74 (0.69%)

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.
10/15/18
BMOC
10/15/18
NO CHANGE
Target $124
BMOC
Market Perform
JPMorgan price target raised to $124 from $118 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on JPMorgan to $124 after its Q3 earnings beat driven by lower than expected loan loss provision. The analyst notes that financials are "cheap again" in spite of the rising interest rates which are positive for net interest margins, better employment which is positive for credit, and regulatory relief which is positive for their capital position. Fotherinham also keeps his Market Perform rating on JPMorgan, saying its two-year forward earnings multiple is "only slightly" below its long-term historical average.
F Ford
$8.81

0.16 (1.85%)

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.
08/20/18
MSCO
08/20/18
NO CHANGE
Target $15
MSCO
Overweight
Ford risks high, but so is potential reward, says Morgan Stanley
Morgan Stanley analyst Adam Jonas believes Ford announcing plans to spend $11B on restructuring and then canceling its investor day may have may have the unintended consequence of raising expectations for a "big bang" of action. While acknowledging the wide range of potential outcomes, Jonas has an estimate for how Ford could recognize its planned $11B in restructuring charges over a 3-5 year period to achieve annual cost reductions of about $4B, giving it a payback period of just under 3 years that would "usually [be] a very good use of capital" by automotive standards, he tells investors. Jonas maintains an Overweight rating on Ford with a $15 price target, contending that the "risks are high, but so is the potential reward."
09/26/18
LEHM
09/26/18
NO CHANGE
Target $11
LEHM
Equal Weight
Ford price target lowered to $11 from $12 at Barclays
In a research note titled "'Going Further' isn't further enough," Barclays analyst Brian Johnson lowered his price target for Ford Motor to $11 and $12 and keeps an Equal Weight rating on the name. Likely restructuring plans are not enough to get us interested, Johnson tells investors after Ford cancelled its investor day. Ford's plan borrows ideas from other manufacturers around shifting product toward trucks, exiting unattractive geographies and rationalizing architectures, the analyst contends. He says that even if successful, he sees little earnings upside and limited potential for multiple expansion for Ford shares.
09/10/18
SBSH
09/10/18
NO CHANGE
Target $9.9
SBSH
Neutral
Ford price target lowered to $9.90 from $10.50 at Citi
Citi analyst Itay Michaeli lowered his price target for Ford (F) to $9.90 to reflect restructuring-related calls on cash. The analyst keeps a Neutral rating on the shares and continues to maintain his preference for General Motors (GM). Ford faces both fundamental and perception problems, whereas GM just faces the latter, Michaeli tells investors in a research note. While the company must deal with some legitimate China and trade headwinds, the degree of erosion that's implied by the pullback in the shares is overdone, the analyst contends.

TODAY'S FREE FLY STORIES

SFTBY

SoftBank

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

19:49
10/13/19
10/13
19:49
10/13/19
19:49
Hot Stocks
Fly Intel: Top five weekend stock stories »

Catch up on the…

SFTBY

SoftBank

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

WE

We Company

$0.00

(0.00%)

FB

Facebook

$184.20

4.02 (2.23%)

BBBY

Bed Bath & Beyond

$12.98

0.89 (7.36%)

AMZN

Amazon.com

$1,730.79

11.115 (0.65%)

TGT

Target

$111.86

1.29 (1.17%)

T

AT&T

$37.58

0.17 (0.45%)

ITW

Illinois Tool Works

$154.56

4.68 (3.12%)

JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

NUE

Nucor

$52.69

2.48 (4.94%)

PNR

Pentair

$37.33

1.215 (3.36%)

GWW

Grainger

$305.24

16.49 (5.71%)

K

Kellogg

$62.14

-0.27 (-0.43%)

ATVI

Activision Blizzard

$54.80

1.1 (2.05%)

TTWO

Take-Two

$122.42

0.02 (0.02%)

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IGMS

IGM Biosciences

$17.53

-0.125 (-0.71%)

19:42
10/13/19
10/13
19:42
10/13/19
19:42
Initiation
IGM Biosciences initiated  »

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LMAT

LeMaitre

$31.29

-0.03 (-0.10%)

19:37
10/13/19
10/13
19:37
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19:37
Hot Stocks
LeMaitre acquires biologic patch business from Admedus »

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    Oct

WE

We Company

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

18:37
10/13/19
10/13
18:37
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18:37
Periodicals
SoftBank seeking control of WeWork through financing package, WSJ says »

SoftBank (SFTBY) has…

WE

We Company

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

SFTBY

SoftBank

$0.00

(0.00%)

03/08/13
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  • 06

    Nov

KOD

Kodiak Sciences

$18.24

1.34 (7.93%)

18:34
10/13/19
10/13
18:34
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18:34
Hot Stocks
Kodiak Sciences announces safety, efficacy from Phase 1b study of KSI-301 »

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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:29
10/13/19
10/13
18:29
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18:29
Recommendations
Adverum Biotechnologies analyst commentary at Piper Jaffray »

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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:23
10/13/19
10/13
18:23
10/13/19
18:23
Hot Stocks
Adverum Biotechnologies reports additional data from Phase 1 trial of ADVM-022 »

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COP

ConocoPhillips

$56.41

0.55 (0.98%)

18:03
10/13/19
10/13
18:03
10/13/19
18:03
Hot Stocks
ConocoPhillips announces $1.39B agreement to sell interests in Australia-West »

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  • 29

    Oct

T

AT&T

$37.58

0.17 (0.45%)

, CMCSA

Comcast

$45.53

1.02 (2.29%)

17:18
10/13/19
10/13
17:18
10/13/19
17:18
On The Fly
Box Office Battle: 'Joker' stays at number 1 with another $55M »

"Box Office Battle" is…

T

AT&T

$37.58

0.17 (0.45%)

CMCSA

Comcast

$45.53

1.02 (2.29%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$58.16

0.83 (1.45%)

LGF.A

Lionsgate

$9.52

0.22 (2.37%)

LGF.B

Lionsgate

$8.97

0.19 (2.16%)

DIS

Disney

$130.08

0.73 (0.56%)

VIAB

Viacom

$23.02

0.505 (2.24%)

VIA

Viacom

$25.45

0.65 (2.62%)

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    Nov

PCG

PG&E

$8.08

0.3 (3.86%)

16:48
10/13/19
10/13
16:48
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16:48
Periodicals
PG&E turns down San Francisco's $2.5B offer to acquire assets, Reuters says »

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    Jan

TTGT

TechTarget

$22.64

0.14 (0.62%)

, SKHCY

Sonic Healthcare

$0.00

(0.00%)

16:44
10/13/19
10/13
16:44
10/13/19
16:44
Conference/Events
Commvault to hold a conference »

Commvault GO 2019 will be…

TTGT

TechTarget

$22.64

0.14 (0.62%)

SKHCY

Sonic Healthcare

$0.00

(0.00%)

NTAP

NetApp

$51.50

1.74 (3.50%)

HPE

HP Enterprise

$14.35

0.24 (1.70%)

HLF

Herbalife Nutrition

$39.07

0.51 (1.32%)

FORR

Forrester

$32.43

0.61 (1.92%)

CSCO

Cisco

$46.52

0.38 (0.82%)

CVLT

Commvault

$45.51

0.695 (1.55%)

03/08/13
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    Dec

FB

Facebook

$184.20

4.02 (2.23%)

16:43
10/13/19
10/13
16:43
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16:43
Periodicals
Warren buying Facebook ads claiming Zuckerberg backs Trump, Bloomberg says »

Elizabeth Warren is…

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KBH

KB Home

$33.92

-0.15 (-0.44%)

16:43
10/13/19
10/13
16:43
10/13/19
16:43
Conference/Events
SunTrust to hold a field trip »

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BX

Blackstone

$47.10

0.62 (1.33%)

16:34
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Periodicals
Blackstone discussed with Citadel about buying stake, WSJ reports »

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GOOG

Alphabet

$1,213.86

5.88 (0.49%)

, GOOGL

Alphabet Class A

$1,214.62

6.18 (0.51%)

16:29
10/13/19
10/13
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16:29
Periodicals
Google bars high-interest consumer loan services from app store, WSJ reports »

Google has barred…

GOOG

Alphabet

$1,213.86

5.88 (0.49%)

GOOGL

Alphabet Class A

$1,214.62

6.18 (0.51%)

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    Oct

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$296.34

3.1 (1.06%)

16:28
10/13/19
10/13
16:28
10/13/19
16:28
General news
Trump working with Congress on 'powerful' Turkey sanctions »

President Trump tweeted…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$296.34

3.1 (1.06%)

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AGN

Allergan

$169.06

1.255 (0.75%)

16:23
10/13/19
10/13
16:23
10/13/19
16:23
Hot Stocks
Allergan, Molecular Partners present data from Phase 3 Abicipar pegol studies »

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LYFT

Lyft

$39.49

1.8 (4.78%)

, UBER

Uber

$30.09

1.19 (4.12%)

16:04
10/13/19
10/13
16:04
10/13/19
16:04
Periodicals
Lyft sues NYC over cruising time caps, Reuters reports »

Following its rival…

LYFT

Lyft

$39.49

1.8 (4.78%)

UBER

Uber

$30.09

1.19 (4.12%)

03/08/13
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GM

General Motors

$35.57

0.9 (2.60%)

15:59
10/13/19
10/13
15:59
10/13/19
15:59
Periodicals
UAW boosting strike pay as General Motor walkout continues, Reuters says »

The United Auto Workers…

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  • 29

    Oct

MRK

Merck

$84.31

0.6 (0.72%)

, JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

15:49
10/13/19
10/13
15:49
10/13/19
15:49
Periodicals
Congo to start using Johnson & Johnson Ebola vaccine next month, Reuters says »

Health authorities in…

MRK

Merck

$84.31

0.6 (0.72%)

JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

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HMTV

Hemisphere Media

$11.70

0.05 (0.43%)

15:48
10/13/19
10/13
15:48
10/13/19
15:48
Initiation
Hemisphere Media initiated at Wells Fargo »

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PFE

Pfizer

$36.11

0.31 (0.87%)

15:37
10/13/19
10/13
15:37
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15:37
Hot Stocks
Pfizer presents Phase 3 data for Abrocitinib in moderate to severe AD »

Pfizer announced complete…

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    Nov

CNCE

Concert Pharmaceuticals

$5.85

(0.00%)

15:29
10/13/19
10/13
15:29
10/13/19
15:29
Hot Stocks
Concert Pharmaceuticals presents Phase 2 data in Alopecia Areata »

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INCY

Incyte

$76.14

0.38 (0.50%)

15:23
10/13/19
10/13
15:23
10/13/19
15:23
Hot Stocks
Incyte announces 52-week results from Phase 2 study of Ruxolitinib cream »

Incyte announced 52-week…

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  • 29

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    Nov

LLY

Eli Lilly

$108.37

1.54 (1.44%)

14:15
10/13/19
10/13
14:15
10/13/19
14:15
Hot Stocks
Eli Lilly says Taltz met co-primary endpoints in Phase 3 plaque psoriasis study »

Eli Lilly announced that…

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  • 23

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