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DLTR

Dollar Tree

$86.09

5.11 (6.31%)

, DG

Dollar General

$110.50

4.08 (3.83%)

14:07
10/16/18
10/16
14:07
10/16/18
14:07

Reported Icahn stake in Dollar Tree a positive development, says Loop Capital

Loop Capital analyst Anthony Chukumba views the New York Post's report of Carl Icahn taking a "significant" stake in Dollar Tree (DLTR) as "unsurprising" and a "positive development." Icahn previously acquired a stake in Family Dollar, pressured management to seek a buyer, and reportedly made a $200M profit on his investment when the company was acquired by Dollar Tree in 2015 for $8.5B, Chukumba tells investors in a research note. The analyst believes it was just a matter of time before an activist became involved given the Family Dollar segment's continued struggles while the core Dollar Tree segment "remains one of the best performers in deep discount retailing." He thinks Icahn is likely to pressure Dollar Tree management to quickly improve the performance of Family Dollar significantly or sell the division. There would be several interested parties if Dollar Tree put Family Dollar on the block, including Dollar General (DG), Amazon.com (AMZN) and private equity firms, Chukumba predicts. He reiterates a Buy rating on Dollar Tree shares with a $107 price target. The stock in afternoon trading is up 6.5%, or $5.23, to $86.20 following the New York Post's report.

DLTR

Dollar Tree

$86.09

5.11 (6.31%)

DG

Dollar General

$110.50

4.08 (3.83%)

AMZN

Amazon.com

$1,808.50

47.51 (2.70%)

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    Oct

DLTR Dollar Tree
$86.09

5.11 (6.31%)

10/15/18
GDHS
10/15/18
DOWNGRADE
GDHS
Hold
Dollar Tree downgraded to Hold from Accumulate at Gordon Haskett
09/25/18
09/25/18
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. Intel (INTC) downgraded to Underperform from Market Perform at Raymond James while ON Semiconductor (ON) and Analog Devices (ADI) were downgraded to Market Perform from Outperform. 2. Dollar Tree (DLTR) downgraded to Neutral from Buy at Buckingham with analyst Bob Summers citing recent operating underperformance and the prospect that near-term challenges in the Family Dollar business will negate the strength of the Dollar Tree brand. 3. Cypress Semiconductor (CY) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh saying Asia supply-chain findings left him incrementally more cautious on the company's fundamentals. 4. Vale (VALE) downgraded to Neutral from Outperform at Macquarie. 5. SilverBow Resources (SBOW) downgraded to Hold from Buy at SunTrust with analyst Neal Dingmann saying while the company has built its portfolio while lowering costs and generating efficiencies over the past few years, it is likely to keep spending on "less proven, higher cost acreage" even as investors "remain focused on capital discipline and operating within cash flow," holding its leverage at close to 2-times. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/18
CLVD
10/03/18
NO CHANGE
CLVD
Neutral
Dollar Tree comps appear softer and below connsensus, says Cleveland Research
Cleveland Research analyst Scott Bender's checks indicate Neutral rated Dollar Tree Q2 comps appear softer quarter-to-date versus Q2 and trending slightly below consensus expectations.
10/11/18
RBCM
10/11/18
NO CHANGE
Target $94
RBCM
Outperform
Dollar Tree price target lowered to $94 at RBC Capital on higher investment cost
RBC Capital analyst Scot Ciccarelli lowered his price target on Dollar Tree to $94 from $96 and also lowered his FY19 EPS view to $5.95 from $6.10 after his recent management meetings highlighted the company's plans to incur more costs in labor and staff training. The analyst notes that the Dollar Tree has not yet "solved the Family Dollar puzzle" on how to improve its business without remodels or conversions, adding that his two store checks revealed serious issues with stocking and clutter. Ciccarelli keeps his Outperform rating on Dollar Tree however, stating that he expects the company to be much more aggressive in changing its Family Dollar real estate portfolio, store conversions, and closures so as to reach the "point of inflection faster."
DG Dollar General
$110.50

4.08 (3.83%)

09/25/18
09/25/18
UPGRADE
Target $125

Buy
Dollar General assumed with Buy from Neutral at Buckingham
As previously reported, Buckingham analyst Bob Summers assumed coverage of Dollar General with a Buy rating and $125 price target, up from the firm's prior rating of Neutral and price target of $107. He expects sustained operating strength through at least the second half of 2018 driven by the ongoing benefit from initiatives and investment as well a favorable consumer environment, Summers tells investors.
10/15/18
UBSW
10/15/18
NO CHANGE
Target $120
UBSW
Buy
Dollar General price target raised to $120 from $110 at UBS
UBS analyst Michael Lasser raised his price target on Dollar General to $120 from $110 following meetings with management. The analyst believes the company can sustain high-single digit sales growth and low-double digit earnings growth for an extended period. He said same store sales should benefit from new store maturation along with a healthy economy, providing a good set up for the shares. Lasser reiterated his Buy rating on Dollar General shares.
10/02/18
ARGS
10/02/18
NO CHANGE
ARGS
Hold
Dollar General shares 'near fair value', says Argus
Argus analyst Chris Graja kept his Hold rating on Dollar General but nudged his FY19 EPS view to $6.15 from $6.03. The analyst anticipates the company to grow its earnings by an annualized 11% over the next 5 years with a combination of opening new stores and continued offering of "everyday low prices". Graja also sees Dollar General successfully navigating the margin pressures by "managing the mix of consumable and discretionary merchandise, making promotions more effective, increasing the mix of higher-margin private brands". Longer term, the analyst keeps his Hold rating on the shares, stating that after a 35% rise in the stock price over the last 12 months, Dollar General is "near fair value".
09/25/18
09/25/18
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. Clorox (CLX) upgraded to Buy from Hold at Argus with analyst John Staszak saying the company offers a "favorable growth profile and consistent record of industry outperformance," with efforts to increase revenues through innovation while conducting "low-cost operations." 2. Dollar General (DG) upgraded to Buy from Neutral at Buckingham with analyst Bob Summers saying he expects sustained operating strength through at least the second half of 2018 driven by the ongoing benefit from initiatives and investment as well a favorable consumer environment. 3. SAIC (SAIC) upgraded to Buy from Hold at Jefferies with analyst Sheila Kahyaoglu saying she is "incrementally more positive" and views the 10% pullback in shares since the Engility (EGL) deal announcement as a buying opportunity. 4. Helmerich & Payne (HP) upgraded to Buy from Neutral at B. Riley FBR with analyst Tom Curran citing valuation as well as the company's technology and super spec strategy. 5. Canadian National (CNI) upgraded to Buy from Neutral at Citi with analyst Christian Weatherbee saying he left meetings with management constructive that the "heavy lifting" of fixing the company's network and adding capacity is largely complete and should pay dividends through "robust" volume growth, greater fluidity, and lower costs. And this improvement coincides with easier comps, as Canadian National's network "was greatly stressed into the winter of last year from a surge in volume and bad weather." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AMZN Amazon.com
$1,808.50

47.51 (2.70%)

10/15/18
WEDB
10/15/18
NO CHANGE
Target $115
WEDB
Neutral
Lowe's price target raised to $115 from $105 at Wedbush
Wedbush analyst Seth Basham raised his price target for Lowe's (LOW) to $115 from $105 as he expects near-term progress on key initiatives to add confidence to the story, while the roadmap to much higher earnings power should come at the company's December 12 Analyst and Investor Conference. While execution risk should not be minimized in improving large retail organizations, CEO Marvin Ellison's success in turning around retail fundamentals at Home Depot (HD) bolsters the likelihood that he can execute a very similar plan at Lowe's, with material top- and bottom-line growth despite this period of investment and change, along with strong competition from Home Depot and Amazon (AMZN), he contends. Basham reiterates a Neutral rating on Lowe's shares.
10/15/18
MSCO
10/15/18
NO CHANGE
Target $2500
MSCO
Overweight
Amazon wage hike impact 'not small,' but manageable, says Morgan Stanley
Morgan Stanley analyst Brian Nowak said Amazon's wage increases are "not small," estimating that the pay hikes for U.S. and UK employees will increase operating expenses by about $2.75B, or about 2.5%, in FY19. However, he believes the cost will be manageable as he Nowak believes the company's warehouse build over the past 2-3 years had a larger robotics integration, which is driving increased fulfillment efficiency. He keeps an Overweight rating and $2,500 price target on Amazon shares.
10/16/18
SBSH
10/16/18
NO CHANGE
SBSH
Buy
Increased Postal Service rates could cost Amazon $1B, says Citi
Last week the United States Postal Service unveiled a proposed plan for increases in mailing rates to be effective January 2019, Citi analyst Mark May tells investors in a research note. The analyst estimates that Amazon's U.S. shipping costs could increase by $1B in 2019 as a result of the USPS proposal. Without any offsets, this equates to 0.8% of May's 2019 gross profit estimate and 5.7% of his operating profit forecast. That said, he believes Amazon has "several levers" to offset this potential impact, including the $20 per year increase in U.S. Prime subscription fees and increasing its shipping fees charged to third-party sellers. May keeps a Buy rating on Amazon shares.
10/16/18
DADA
10/16/18
NO CHANGE
Target $60
DADA
Underperform
Path to Wayfair margin target taking longer, says DA Davidson
DA Davidson analyst Tom Forte kept his Underperform rating and $60 price target on Wayfair (W), also maintaining his estimated long-term EBITDA margin level of 8% - the low end of 8%-10% company target range. The analyst notes that the path to that margin will take longer to achieve than implied in the current stock price. Forte also states that Wayfair will have to sustain investments at a high level relative to revenues to preserve its "impressive" sales growth rate. Forte further notes that although Wayfair is modeling Amazon's (AMZN) shipping membership program with its MyWay initiative, its lack of the Market Place and cloud computing leave him with little confidence that it can generate greater profitability any sooner.

TODAY'S FREE FLY STORIES

RL

Ralph Lauren

$130.62

0.885 (0.68%)

09:48
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HSY

Hershey

$122.70

0.27 (0.22%)

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USD

VeriSign Inc

$50.70

(0.00%)

09:47
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FTV

Fortive

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ATEN

A10 Networks

$6.31

-0.97 (-13.32%)

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PRO

Pros Holdings

$45.06

(0.00%)

09:47
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ENVA

Enova International

$30.38

3.85 (14.51%)

09:47
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Hot Stocks
Enova International rises 14.4% »

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GRUB

GrubHub

$76.84

7.01 (10.04%)

09:47
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GrubHub rises 10.3% »

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SPY

SPDR S&P 500 ETF Trust

$292.02

-0.1 (-0.03%)

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S&P 500

$0.00

(0.00%)

09:46
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Hot Stocks
Kudlow says trade deal with China 'is not done' »

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SPDR S&P 500 ETF Trust

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S&P 500

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09:45
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General news
Consumer Sentiment Index to be reported at 10:00 »

Consumer Sentiment Index…

SBUX

Starbucks

$77.07

(0.00%)

09:41
04/26/19
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09:41
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Starbucks analyst commentary  »

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BTC

Bitcoin

$0.00

(0.00%)

, BITCOIN

Bitcoin

$0.00

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On The Fly
The Intersection: Crypto and Wall Street This Week »

As bitcoin, ethereum and…

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Bitcoin

$0.00

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BITCOIN

Bitcoin

$0.00

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SSNLF

Samsung

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

JPM

JPMorgan

$113.62

(0.00%)

AMD

AMD

$27.66

(0.00%)

NVDA

Nvidia

$186.84

(0.00%)

OSTK

Overstock.com

$13.13

(0.00%)

DPW

DPW Holdings

$0.22

(0.00%)

KODK

Kodak

$2.38

(0.00%)

IDEX

Ideanomics

$1.84

(0.00%)

RIOT

Riot Blockchain

$5.90

(0.00%)

TEUM

Pareteum

$3.90

(0.00%)

SRAX

Social Reality

$4.80

(0.00%)

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F

Ford

$9.41

(0.00%)

, JNPR

Juniper

$28.12

(0.00%)

09:40
04/26/19
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09:40
Options
Unusually active option classes on open April 26th »

Unusual total active…

F

Ford

$9.41

(0.00%)

JNPR

Juniper

$28.12

(0.00%)

WMT

Walmart

$103.52

(0.00%)

INTC

Intel

$57.59

(0.00%)

GRUB

GrubHub

$69.83

(0.00%)

AMZN

Amazon.com

$1,902.53

(0.00%)

MRVL

Marvell

$25.42

(0.00%)

XOM

Exxon Mobil

$82.25

(0.00%)

KR

Kroger

$25.77

(0.00%)

WDC

Western Digital

$52.95

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09:40
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General news
Fed Policy Outlook: analysts continue to take issue with the market's dovish bet »

Fed Policy Outlook:…

AAPL

Apple

$205.28

-1.82 (-0.88%)

09:39
04/26/19
04/26
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09:39
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Apple analyst commentary at OTR Global »

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HIBB

Hibbett Sports

$20.53

0.13 (0.64%)

, TSCO

Tractor Supply

$105.09

1 (0.96%)

09:37
04/26/19
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09:37
Hot Stocks
Hibbett Sports names Christine Skold as Interim CFO, effective April 26 »

Hibbett Sports (HIBB)…

HIBB

Hibbett Sports

$20.53

0.13 (0.64%)

TSCO

Tractor Supply

$105.09

1 (0.96%)

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SBUX

Starbucks

$77.07

0.65 (0.85%)

09:37
04/26/19
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09:37
Hot Stocks
Starbucks CEO says competitor discounts in China not sustainable »

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V

Visa

$161.03

-0.47 (-0.29%)

09:36
04/26/19
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09:36
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09:36
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Visa analyst commentary at BMO Capital »

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WNS

WNS Holdings

$56.71

0.26 (0.46%)

09:36
04/26/19
04/26
09:36
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09:36
Recommendations
WNS Holdings analyst commentary at Barrington »

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  • 23

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ANTM

Anthem

$256.01

5 (1.99%)

, CVS

CVS Health

$53.24

0.31 (0.59%)

09:34
04/26/19
04/26
09:34
04/26/19
09:34
Recommendations
Anthem, CVS Health analyst commentary at Cleveland Research »

Anthem won Blue Cross of…

ANTM

Anthem

$256.01

5 (1.99%)

CVS

CVS Health

$53.24

0.31 (0.59%)

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RL

Ralph Lauren

$129.74

-2.31 (-1.75%)

09:34
04/26/19
04/26
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09:34
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Ralph Lauren rating change  »

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SFLY

Shutterfly

$42.30

-0.65 (-1.51%)

09:32
04/26/19
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09:32
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Shutterfly rating change at Raymond James »

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  • 15

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HTBK

Heritage Commerce

09:32
04/26/19
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09:32
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Heritage Commerce rating change at Brean Capital »

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SIVB

SVB Financial

$247.10

-1.84 (-0.74%)

09:32
04/26/19
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04/26/19
09:32
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SVB Financial rating change at Fig Partners »

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MAS

Masco

$37.50

-2.48 (-6.20%)

09:32
04/26/19
04/26
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09:32
Upgrade
Masco rating change at Raymond James »

Masco upgraded two levels…

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