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JNJ

Johnson & Johnson

$133.75

-0.03 (-0.02%)

, UNH

UnitedHealth

$259.80

0.36 (0.14%)

20:25
10/15/18
10/15
20:25
10/15/18
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Johnson & Johnson (JNJ), consensus $2.03... UnitedHealth (UNH), consensus $3.29... Goldman Sachs (GS), consensus $5.38... Morgan Stanley (MS), consensus $1.02... BlackRock (BLK), consensus $6.84... Prologis (PLD), consensus 35c... Progressive (PGR), consensus $1.12... W.W. Grainger (GWW), consensus $3.94... Omnicom (OMC), consensus $1.21... Comerica (CMA), consensus $1.76... J.B. Hunt (JBHT), consensus $1.39... Domino's Pizza (DPZ), consensus $1.75... First Horizon National (FHN), consensus 36c.

JNJ

Johnson & Johnson

$133.75

-0.03 (-0.02%)

UNH

UnitedHealth

$259.80

0.36 (0.14%)

GS

Goldman Sachs

$215.28

1.37 (0.64%)

MS

Morgan Stanley

$43.45

(0.00%)

BLK

BlackRock

$427.40

-0.18 (-0.04%)

PLD

Prologis

$63.00

0.45 (0.72%)

PGR

Progressive

$66.23

-0.64 (-0.96%)

GWW

Grainger

$318.38

6.75 (2.17%)

OMC

Omnicom

$69.48

0.8 (1.16%)

CMA

Comerica

$83.69

-1.04 (-1.23%)

JBHT

J.B. Hunt

$111.78

2.52 (2.31%)

DPZ

Domino's Pizza

$273.13

-4.215 (-1.52%)

FHN

First Horizon

$15.99

-0.11 (-0.68%)

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JNJ Johnson & Johnson
$133.75

-0.03 (-0.02%)

10/03/18
WBLR
10/03/18
NO CHANGE
WBLR
Outperform
Janssen termination inconsequential for Aduro Biotech, says William Blair
William Blair analyst Matt Phipps attributes the 13% pullback yesterday in shares of Aduro Biotech (ADRO) to the termination of the company's collaboration with Johnson & Johnson's (JNJ) Janssen Biotech. Janssen officially ended a license agreement for two strains of Aduro's engineered Listeria therapy for lung and prostate cancers. Based on prior data with the Listeria strains and Aduro's decision to discontinue internal development of this platform at the end of 2017, Janssen's decision is not surprising, Phipps tells investors in a research note. The analyst views the news as inconsequential for Aduro and notes he did not consider the program a driver of Aduro valuation. The analyst did not include any aspect of the program in his estimates for Aduro and keeps an Outperform rating on the shares.
10/04/18
CANT
10/04/18
NO CHANGE
Target $24
CANT
Overweight
Arrowhead price target raised to $24 from $18 at Cantor Fitzgerald
Cantor Fitzgerald analyst Justin Kim raised his price target for Arrowhead (ARWR) to $24 from $18 following a newly announced collaboration and license agreement with Johnson & Johnson's (JNJ) subsidiary Janssen. Overall, the analyst feels the agreement is positive for the company as the support of a large partner could speed up the development timelines, increase market penetration with expertise, and validates the TRiM platform that Arrowhead uses. The additional cash will support Arrowhead's internal clinical development, he adds. Kim reiterates an Overweight rating on Arrowhead's shares.
10/05/18
SBSH
10/05/18
NO CHANGE
SBSH
Gilead may need Dicerna after Arrowhead, J&J deal, says Citi
Given the partnership announced yesterday between Arrowhead Pharmaceuticals (ARWR) and Johnson & Johnson (JNJ), Gilead Sciences' (GILD) hepatitis B virus portfolio may need another component and Dicerna Pharmaceuticals (DRNA) "could be one of them," Citi analyst Robyn Karnauskas tells investors in a research note. The analyst believes large pharma and Gilead are "still missing a key piece to bring a curative therapy to market that can rapidly and effectively lower HBsAg." The Arrowhead deal makes it apparent that HBV portfolios may need a multi-target approach and validates the RNAi platform to target HBV, the analyst contends.
10/04/18
PIPR
10/04/18
NO CHANGE
Target $25
PIPR
Overweight
Arrowhead price target raised to $25 from $17 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff raised his price target for Arrowhead (ARWR) to $25 from $17 after the company signed a license and collaboration agreement with Johnson & Johnson's (JNJ) Janssen Pharmaceuticals to develop and commercialize ARO-HBV and up to 3 new TRiM candidates. The analyst notes that Arrowhead will receive $175M cash up front, a $75M equity investment, up to $3.5B in milestones plus up to mid-teens royalties on ARO-HBV. Tenthoff views this deal as transformative for Arrowhead, dramatically strengthening the balance sheet and finding a strong partner for ARO-HBV, while retaining the rest of TRiM pipeline. He reiterates an Overweight rating on Arrowhead's shares.
UNH UnitedHealth
$259.80

0.36 (0.14%)

10/03/18
LEER
10/03/18
NO CHANGE
LEER
Upcoming midterm elections to act as key catalyst driving healthcare, says Leerink
Leerink analyst Ana Gupte expects the upcoming midterm elections to act as a key catalyst driving healthcare. This midterm has the potential for even more impact given the 2020 Presidential election could even lead to a Democratic supermajority, she contends. Gupte sees the most upside opportunity in Managed Medicaid stocks, such as Centene (CNC) and Molina Healthcare (MOH), and for Facilities names like HCA Healthcare (HCA) with a Blue Wave increasing Red state Medicaid expansions. Medicare Advantage with Humana (HUM) as the flagship name is her contrarian election pick. The analyst recommends buying Diversified MCOs with captive PBMs like UnitedHealth (UNH)/Optum [OP], Anthem (ANTM)/Ingenio Rx, and Cigna (CI)/Express Scripts (ESRX) under all scenarios.
10/12/18
JEFF
10/12/18
DOWNGRADE
JEFF
Hold
Molina Healthcare downgraded to Hold on valuation at Jefferies
Jefferies analyst David Windley downgraded Molina Healthcare (MOH) to Hold with an unchanged price target of $152. The downgrade is based mostly on valuation as the company has pulled forward "significant earnings power faster than expected" and appreciated 80% year-to-date, Windley tells investors in a research note. The analyst, however, remains constructive on Managed Care fundamentals with a bias to own diversified insurers. He likes we like UnitedHealth's (UNH) Q4 set-up and also believe Cigna's (CI) multiple can expand.
10/03/18
JEFF
10/03/18
NO CHANGE
Target $311
JEFF
Buy
UnitedHealth price target raised to $311 from $292 at Jefferies
Jefferies analyst David Windley raised his price target for UnitedHealth Group to $311 following a "deep dive analysis." The analyst sees an attractive risk/reward profile and reiterates a Buy rating on the shares. UnitedHealth has an "abundance" of organic and inorganic opportunities that support low-to-mid teens earnings growth over the next three-to-five years, Windley tells investors in a research note. His "base case" one-year total return is 16%, reflecting above consensus 2020 earnings estimates.
09/17/18
COWN
09/17/18
INITIATION
Target $308
COWN
Outperform
UnitedHealth initiated with an Outperform at Cowen
Cowen analyst Charles Ryhee initiated UnitedHealth with an Outperform rating as he believes it is best positioned among its peer group over the near and long-term. He expects its strong position in Medicare Advantage to fuel growth as its overall market penetration increases. Ryhee has a $308 price target on UnitedHealth shares.
GS Goldman Sachs
$215.28

1.37 (0.64%)

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 $290
WOLF
Outperform
Goldman Sachs initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Goldman Sachs with an Outperform and $290 price target.
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.
08/15/18
VERT
08/15/18
NO CHANGE
VERT
Sell
Goldman involvement with Tesla 'doesn't mean anything,' says Vertical Research
Vertical Research analyst Gordon Johnson said Goldman Sachs (GS) being confirmed as a financial advisor to Tesla's (TSLA) proposed go-private offer "does not mean anything" beyond the "superficial optics" of the carmaker being able to "use Goldman's prestigious name to lend credence to the deal." Goldman is "in it for M&A fees" and agreeing to be an advisor is "not based on any inherent understanding of Tesla's value proposition, nor is it based on Goldman's confidence in Tesla's legal situation with respect to its significant issues surrounding disclosures and SEC involvement," according to Johnson, who maintains a Sell rating on Tesla shares.
MS Morgan Stanley
$43.45

(0.00%)

10/02/18
HSBC
10/02/18
DOWNGRADE
HSBC
Hold
Morgan Stanley downgraded to Hold from Buy at HSBC
09/20/18
RBCM
09/20/18
NO CHANGE
Target $60
RBCM
Outperform
Morgan Stanley EPS ests lowered at RBC Capital on declining advisory fees
RBC Capital analyst Gerard Cassidy kept his Outperform rating and $60 price target on Morgan Stanley but lowered his FY18 EPS view to $4.70 from $4.88 and FY19 view to $5.15 from $5.47. The analyst says his new targets assume advisory fees declining 2% and Equity and Debt Capital Market segments fees decline of 0.9% and 2.3% respectively, even though he sees equity trading revenues rising 5.8%. Cassidy further expects Morgan Stanley's investment management revenue to fall "modestly" on anticipated funds outflow from "money market mutual fund sweeps".
07/19/18
07/19/18
UPGRADE

Market Perform
Morgan Stanley upgraded to Market Perform on more balanced risk/reward at Bernstein
As previously reported, Bernstein analyst Christian Bolu upgraded Morgan Stanley to Market Perform from Underperform saying that while he still sees some risks, his concerns are now better reflected in the stock given price underperformance over recent months. Wealth management still a risk, but now a better understood risk, he contends.
09/25/18
WOLF
09/25/18
INITIATION
Target $61
WOLF
Outperform
Morgan Stanley initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Morgan Stanley with an Outperform and $61 price target.
BLK BlackRock
$427.40

-0.18 (-0.04%)

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.
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.
07/13/18
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.
07/17/18
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.
PLD Prologis
$63.00

0.45 (0.72%)

08/23/18
JPMS
08/23/18
INITIATION
Target $72
JPMS
Overweight
Prologis reinstated with an Overweight at JPMorgan
JPMorgan analyst Michael Mueller reinstated coverage of Prologis with an Overweight rating and $72 price target following a period of restriction. The analyst continues to like the near and longer-term prospects for the company.
05/14/18
05/14/18
DOWNGRADE

Market Perform
DCT Industrial downgraded to Market Perform at Wells Fargo
As previously reported, Wells Fargo analyst Blaine Heck downgraded DCT Industrial (DCT) to Market Perform from Outperform, while raising his price target on the shares to $67 from $65, given the company's expected acquisition by Prologis (PLD).
04/30/18
JMPS
04/30/18
NO CHANGE
JMPS
Market Perform
Other bidders unlikely for DCT Industrial, says JMP Securities
After DCT Industrial (DCT) announced an agreement to be acquired by Prologis (PLD) in a stock-for-stock transaction valued at $8.4B, including debt, JMP Securities analyst Mitch Germain said he does not expect another bidder to emerge given the "full" pricing for the deal. He does, however, anticipate the potential for additional sector M&A activity, citing the pricing dynamic between public and private real estate, record levels of private equity dry powder on the sidelines and "readily available" debt financing. Germain has a Market Perform rating on DCT Industrial shares.
08/23/18
BTIG
08/23/18
NO CHANGE
Target $73
BTIG
Buy
Prologis premium valuation justified, says BTIG
BTIG analyst Thomas Catherwood kept his Buy rating and $73 price target on Prologis, saying its recently completed acquisition of DCT Industrial gives it a "quality combined portfolio". The analyst adds that while the stock has underperformed since the deal was announced in late April, the potential of the combination and the positive industrial sector outlook justify the premium valuation on Prologis.
PGR Progressive
$66.23

-0.64 (-0.96%)

09/14/18
MKMP
09/14/18
NO CHANGE
Target $80
MKMP
Buy
Progressive price target raised to $80 from $75 at MKM Partners
MKM Partners analyst Harry Fong raised his price target on Progressive to $80 and kept his Buy rating after its August earnings came in better than he expected. The analyst cites continued growth for the company's auto policies-in-force, along with sequentially higher growth of commercial auto and property premiums. Fong anticipates Progressive posting revenue growth "for the foreseeable future as its underwriting margins are still at a level that should give it a strong competitive pricing advantage over most of the industry". The analyst also sees the company's marketing with the bundled auto/homeowners policy at a very early stage of growth.
08/07/18
FBCO
08/07/18
INITIATION
Target $114
FBCO
Outperform
Allstate initiated with an Outperform at Credit Suisse
Credit Suisse analyst Michael Zaremski started Allstate with an Outperform rating and $114 price target. The analyst believes Telematics is a profitability game changer, especially since Progressive (PGR) and Allstate have a huge lead on the competition. Zaremski thinks both companies are in the early innings of deploying their telematics data to improve their underwriting, claims, and marketing capabilities. Allstate has roughly 1M policyholders that are using its app or plug-in device, representing about 5% of its customer base, he notes, adding he expects this number to more than double in the coming 18 months, which will provide Allstate with enough data to extrapolate predictive analytics across its entire portfolio to price risk more accurately.
09/19/18
UBSW
09/19/18
NO CHANGE
Target $78
UBSW
Buy
Progressive price target raised to $78 from $70 at UBS
UBS analyst Brian Meredith raised his price target on Progressive to $78 from $70 as he believes top-line growth will remain in double digits as the company takes market share due to its bundled products and premium retention improvement. He also expects net income to grow double digits, which would offset some of the expected deterioration in personal auto margins. Meredith reiterated his Buy rating on Progressive shares.
09/26/18
MKMP
09/26/18
NO CHANGE
Target $85
MKMP
Buy
Progressive price target raised to $85 from $80 at MKM Partners
MKM Partners analyst Harry Fong raised his price target on Progressive to $85 and kept his Buy rating, citing the 55% increase in its advertising spending disclosed in the company's latest 10-Q filing. The analyst states that this is the biggest increase in advertising since the late 1990's, and contends that the higher rate of spending reflects the management's expectations of Progressive's stronger revenue growth to continue. Fong further notes that competing through higher advertising is preferable for auto insurers over cutting rates since it is "much easier to stop spending the marginal advertising dollar when results are not as expected".
GWW Grainger
$318.38

6.75 (2.17%)

10/12/18
GDHS
10/12/18
INITIATION
Target $337
GDHS
Hold
Grainger initiated with a Hold at Gordon Haskett
Gordon Haskett analyst John Inch started Grainger with a Hold rating and $337 price target.
09/21/18
OPCO
09/21/18
NO CHANGE
Target $410
OPCO
Outperform
Grainger price target raised to $410 from $400 at Oppenheimer
Oppenheimer analyst Chris Glynn reiterated an Outperform rating on Grainger and raised his price target to $410 from $400. In a research note to investors, Glynn says he sees upside potential in gross margin and continues to believe Grainer's strategic business model and asset base will continue to enable the pivot in fundamentals and enable ongoing share gain at favorable mix, and therefore, stock price appreciation.
08/23/18
OPCO
08/23/18
NO CHANGE
Target $400
OPCO
Outperform
Grainger price target raised to $400 from $380 at Oppenheimer
Oppenheimer analyst Christopher Glynn raised his price target for Grainger to $400 from $380 following meetings with management. The analyst notes that Grainger continues to improve overall profitability/leverage potential of the system with a more efficient DC network, the smaller branch footprint, and headcount productivity/salesforce efficiency. Pricing, now market-based, supports view of no need to further reduce price baselines, he contends. Glynn reiterates an Outperform rating on the shares.
09/26/18
BMOC
09/26/18
NO CHANGE
Target $330
BMOC
Market Perform
Grainger's market-based pricing 'successfully driving sales', says BMO Capital
BMO Capital analyst R. Scott Graham kept his Market Perform rating and $330 price target on Grainger after hosting a conference call with its management which addressed the company's "pricing, competitive landscape, operating environment, and tariffs". The analyst says the company's U.S. pricing has been reset by the "price transparency brought to the MRO market by Google", adding that its change to market-based pricing is driving sales. Graham also notes that Grainger has built dedicated teams to "understand competitive sets by product group" and another team "working diligently to assess the impact of tariffs on its business".
OMC Omnicom
$69.48

0.8 (1.16%)

07/23/18
ARGS
07/23/18
DOWNGRADE
ARGS
Hold
Omnicom downgraded to Hold at Argus on disappointing Q2
As reported earlier, Argus analyst Deborah Ciervo downgraded Omnicom to Hold From Buy following Q2 results that showed disappointing revenue and weak advertising trends. The analyst believes that the weakness in the retail sector is weighing on the company's North America business, even as performance has improved in Europe, U.K., and Asia. Ciervo added that she expects continued slow organic growth in the near term, even as her outlook for the longer term remains bullish "based on its leading industry position and our high regard for management, which has a history of topping Street expectations and achieving high returns on invested capital".
07/23/18
ARGS
07/23/18
DOWNGRADE
ARGS
Hold
Omnicom downgraded to Hold from Buy at Argus
07/18/18
WELS
07/18/18
NO CHANGE
Target $75
WELS
Market Perform
Omnicom price target lowered to $75 from $80 at Wells Fargo
Wells Fargo analyst Peter Stabler lowered his price target for Omnicom to $75 from $80 on lowered FY19 estimates. The analyst reiterates a Market Perform rating on the shares.
09/28/18
LEHM
09/28/18
DOWNGRADE
Target $75
LEHM
Underweight
Omnicom downgraded to Underweight from Equal Weight at Barclays
CMA Comerica
$83.69

-1.04 (-1.23%)

09/12/18
PIPR
09/12/18
NO CHANGE
Target $117
PIPR
Overweight
Comerica mid-quarter update not positive catalyst, says Piper Jaffray
Piper Jaffray analyst Brett Rabatin says he's not surprised Comerica's average loans were slightly lower in its mid-quarter update. The analyst had already modeled average loans being down slightly in Q3 and does not believe lower average balances so far this quarter will surprise anyone. Investors will have to wait for "earnings to get real answers" on whether growth can really improve into fiscal 2019, Rabatin tells investors in a research note. Overall, he thinks yesterday's mid-quarter update is not a positive catalyst for shares of Comerica. The analyst was hoping for a slightly lower targeted CET1 ratio, but applauds the "more aggressive management of capital." He keeps an Overweight rating on Comerica with a $117 price target.
09/18/18
09/18/18
DOWNGRADE

Equal Weight
Morgan Stanley downgrades BankUnited to Equal Weight on midcap bank concerns
As previously reported, Morgan Stanley analyst Ken Zerbe downgraded BankUnited to Equal Weight from Overweight, stating that recent commentary from other midcap banks has been incrementally more negative. Five midcap banks - Associated Banc-Corp (ASB), Comerica (CMA), KeyCorp (KEY), M&T Bank (MTB) and Webster Financial (WBS) - have recently guided for loan growth below expectations and several others flagged headwinds to growth, Zerbe tells investors. The primary headwind is weaker CRE loan growth as non-bank lenders remain highly aggressive with both price and terms, the analyst added. BankUnited's CRE portfolio, at 43% of total loans versus peers at 27%, could be at greater risk of runoff, said Zerbe. He also reduced his expectations at 21 of 28 midcap banks he covers and cut his EPS estimates for 18 of those 28 banks.
09/26/18
GSCO
09/26/18
UPGRADE
Target $196
GSCO
Buy
Goldman says rate hikes halfway through, upgrades M&T Bank to Buy
Goldman Sachs analyst Ryan Nash says his firm's economist is calling for six more rate hikes, two in the second half of 2018 and four more through the end of 2020. With six rate hikes in the books, Goldman believes we are half way through the rate rising cycle, Nash tells investors in a research note. The analyst believes some banks will see upside to revenue growth from rates moving higher. Comerica (CMA), Regions Financial (RF), SunTrust (STI), Citizens Financial (CFG) and KeyCorp (KEY) remain top picks for Nash. He also upgraded M&T Bank (MTB) to Buy from Neutral with 15% upside to his $196 price target. The analyst believes M&T will outperform as the benefits of higher rates exceed market expectations.
09/07/18
MACQ
09/07/18
DOWNGRADE
Target $104
MACQ
Neutral
Comerica downgraded to Neutral on declining LIBOR spreads at Macquarie
Macquarie analyst David Konrad downgraded Comerica to Neutral from Buy with a $104 price target to reflect declining LIBOR spreads that will result in a decline in sequential NIM improvement. Konrad is cautious heading into September as he expects guidance to be disappointing relative to 2H 2018 expectations and said excess capital is more efficiently priced into the stock.
JBHT J.B. Hunt
$111.78

2.52 (2.31%)

10/10/18
LOOP
10/10/18
NO CHANGE
Target $143
LOOP
Buy
J.B. Hunt price target lowered to $143 from $151 at Loop Capital
Loop Capital analyst Rick Paterson lowered his price target for J.B. Hunt Transport Services to $143 but keeps a Buy rating on the shares. The analyst is taking a s"lightly more conservative stance on the economy, given likely deceleration in the face of the escalating trade war with China." He believes, however, that the company's contract arbitration with BASF is taking a step forward with this morning's news.
10/05/18
CLVD
10/05/18
INITIATION
CLVD
Neutral
J.B. Hunt initiated with a Neutral at Cleveland Research
Cleveland Research analyst Chris Johnson assumed coverage on J.B. Hunt with a Neutral saying intermodal volume growth is likely limited due to rail service issues.
09/28/18
EDJN
09/28/18
DOWNGRADE
EDJN
Hold
J.B. Hunt downgraded to Hold from Buy at Edward Jones
07/16/18
LOOP
07/16/18
NO CHANGE
Target $151
LOOP
Buy
Loop says J.B. Hunt guidance has gone from 'conservative' to 'unrealistic'
After J.B. Hunt reported better than expected Q2 results but did not change its guidance, Loop Capital analyst Rick Paterson noted that his 2018 revenue forecasts now beat the company's guidance ranges in all divisions except Truck, its smallest unit. The unchanged guidance "has now gone from conservative to, arguably, unrealistic," contends Paterson, who thinks it will take time for "why didn't they raise guidance" concerns to fade. However, given his raised estimates, Paterson increased his price target on J.B. Hunt shares to $151 from $145 and keeps a Buy rating on the name.
DPZ Domino's Pizza
$273.13

-4.215 (-1.52%)

10/12/18
BARD
10/12/18
NO CHANGE
Target $300
BARD
Outperform
Domino's Pizza profile supports favorable risk/reward, says Baird
Baird analyst David Tarantino previewed the Q3 results for Domino's Pizza and believes they sustained operating momentum during the quarter. However, he sees limited upside potential versus the "lofty" domestic comps forecast given the difficult comparison. He believes the fundamental outlook remains healthy and the combination of its scarce growth profile and defensive business model supports a favorable risk/reward one year out. Tarantino reiterated his Outperform rating and $300 price target on Domino's Pizza shares.
10/10/18
MAXM
10/10/18
NO CHANGE
Target $305
MAXM
Hold
Domino's Pizza price target raised to $305 from $285 at Maxim
Maxim analyst Stephen Anderson raised his price target on Domino's Pizza (DPZ) to $305 after its investor meeting with the management last week, saying the company is "building a global fortress" and remains "unfazed" by competition. The analyst says Domino's Pizza should sustain its "best in class" performance in spite of the woes experienced by Papa John's (PZZA) and Pizza Hut (YUM) as it seeks more operational efficiencies on a "global scale" even though it may take a few quarters for cost savings to materialize. Anderson keeps his Hold rating on the shares, awaiting a deeper pullback before considering a more bullish stance.
07/20/18
SPHN
07/20/18
NO CHANGE
Target $310
SPHN
Overweight
Domino's Pizza report 'solid' amid high expectations, says Stephens
Stephens analyst Will Slabaugh thinks Domino's Pizza reported "solid" Q2 results, but that high expectations heading into the report have kept the stock "in check." Domino's is maintaining "impressive" top-line momentum and Slabaugh thinks its industry-leading fundamentals will allow it to maintain or widen its valuation gap versus peers. He keeps an Overweight rating on Domino's shares and raised his price target to $310 from $300 following the Q2 earnings report.
10/08/18
WELS
10/08/18
NO CHANGE
Target $260
WELS
Market Perform
Domino's Pizza price target raised to $260 from $255 at Wells Fargo
Wells Fargo analyst Jon Tower raised his price target for Domino's Pizza to $260 from $255, while reiterating a Market Perform rating on the shares. The analyst thinks shares are reflecting an expectation for continued high-single-digit U.S. same-store sales growth, a pick-up in international unit growth, and a Q3 EBITDA/EPS beat. While he continues to believe the stock deserves a premium valuation relative to global quick-service peers, given long-term system-wide sales growth predicated on HSD franchise unit growth, he is concerned that the risk/reward for investors at current levels is skewed to the downside in the near-term, particularly if key metrics come up shy of relatively high expectations.
FHN First Horizon
$15.99

-0.11 (-0.68%)

07/18/18
RHCO
07/18/18
NO CHANGE
Target $20
RHCO
Buy
First Horizon price target lowered to $20 from $24 at SunTrust
SunTrust analyst Jennifer Demba lowered her price target on First Horizon to $20 after its Q2 earnings but kept her Buy rating, saying the weakness in fixed income from lower revenue and higher expenses was offset by net interest margin expansion and no loan loss provision. Demba further states that given the bank's valuation well below peer level, the management is strongly considering share repurchase activity.
08/23/18
JEFF
08/23/18
NO CHANGE
JEFF
Jefferies identifies six potential takeover targets for BB&T
Following BB&T's (BBT) recent bank comments regarding acquisitions and clarifications of its parameters, Jefferies analyst Ken Usdin identified six regional banks as potential takeover targets: BancorpSouth (BXS), First Horizon (FHN), Hancock Whitney (HWC), Iberiabank (IBKC), Pinnacle Financial (PNFP) and United Bankshares (UBSI). First Horizon and Iberiabank "look the best-fitting solely from a number perspective," Usdin tells investors in a research note. The analyst believes BB&T could pay "sizable control premiums" for both, namely 28% Iberiabank and 15% for First Horizon, while achieving earnings accretion in year one.
09/25/18
JPMS
09/25/18
NO CHANGE
Target $21
JPMS
Overweight
First Horizon should be bought ahead of investor day, says JPMorgan
JPMorgan analyst Steven Alexopoulos recommends buying shares of First Horizon National ahead of the company's investor day on November 6. Management appears frustrated with what they view as a relatively large disconnect between the valuation of the stock and the earnings power of the franchise, Alexopoulos tells investors in a research note after having meetings with the company. He believes management at November's investor day may provide a deeper dive into the earnings power of the company as well as provide nearer term financial targets. The analyst raised his price target for First Horizon shares to $21 from $20 and keeps an Overweight rating on the name.
07/18/18
RAJA
07/18/18
DOWNGRADE
RAJA
Outperform
First Horizon downgraded to Outperform at Raymond James
As previously reported, Raymond James downgraded First Horizon to Outperform from Strong Buy. Analyst Michael Rose said Q2 results fell below expectations on a core basis but believes ongoing improvement in the core regional bank franchise and further cost savings and revenue synergies from the Capital Bank deal will offset capital markets weakness.

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MDT

Medtronic

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KBH

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AAPL

Apple

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Apple acquires AI software firm Silk Labs, The Information reports »

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NVT

nVent Electric

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FB

Facebook

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CMCSA

Comcast

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Comcast

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Comcast

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Foot Locker

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Keysight Technologies

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Copart

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Gap

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Bilibili

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DexCom

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AAPL

Apple

$177.10

-8.7 (-4.68%)

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FB

Facebook

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EMCI

EMC Insurance

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Emerald Expositions Events

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LivaNova

$98.00

-22.28 (-18.52%)

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Black Hills

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Alphabet

$1,026.00

7 (0.69%)

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Alphabet Class A

$1,031.22

4.99 (0.49%)

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$1,026.00

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Alphabet Class A

$1,031.22

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SE

Sea Limited

$12.18

-0.52 (-4.09%)

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BILI

Bilibili

$13.61

0.575 (4.41%)

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LTM

Latam Airlines

$9.24

-0.4 (-4.15%)

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CE

Celanese

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-1.53 (-1.50%)

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