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FCAU

Fiat Chrysler

$15.52

0.035 (0.23%)

, KKR

KKR

$24.22

-0.45 (-1.82%)

19:39
10/21/18
10/21
19:39
10/21/18
19:39

Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Fiat Chrysler (FCAU) has agreed to sell its high-tech car-parts unit, Magneti Marelli, to KKR's (KKR) Calsonic Kansei, according to Bloomberg, citing people familiar with the matter. An announcement is scheduled for as early as Monday, sources said. The transaction value could be as much as $7.1B, the report added. 2. Fertitta invited Caesars earlier this month to merge with his own gaming empire, which includes the Golden Nugget casino chain, according to The New York Post. But Caesars' (CZR) board, which includes reps from billionaire Leon Black's Apollo Management (APO) and David Bonderman's TPG, is expected to unanimously reject Fertitta's deal as soon as this week, believing it would saddle the casino giant with too much debt, the report noted, citing two sources familiar with the situation. 3. A year ago, Facebook's (FB) global dominance made it the perfect stock but today, that dominance has exposed the company to security issues and privacy concerns, Al Root wrote in this week's edition of Barron's. In assessing the latest bout of market volatility, Barron's decided to come up with a more systematic approach to measuring FAANG - Facebook, Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL; GOOG) - risk. Netflix emerged as the winner in Barron's initial risk assessment, Root said, as it is less vulnerable to privacy and trade issues. But its risks are mounting, with the streaming giant likely meeting its fiercest competition to date next year, when Disney (DIS) launches its new streaming service, the publication added. 4. Comcast (CMCSA) subsidiary Universal's "Halloween" opened to $77.5M from 3,920 theaters, the second-best showing of all time for an R-rated horror pic, the second-best debut ever for the month of October and the biggest-grossing "Halloween" movie of all time. Overseas, the direct sequel to the 1978 classic slasher hit started off with $14.3M from its first 23 markets, for a global bow of $91.80M. The movie earner a B+ CinemaScore and sports 80% Rotten Tomatoes score. 5. Alibaba (BABA), Tencent (TCEHY), Baidu (BIDU), Citizens Financial (CFG) and Under Armour (UAA) saw positive mentions in Barron's.

FCAU

Fiat Chrysler

$15.52

0.035 (0.23%)

KKR

KKR

$24.22

-0.45 (-1.82%)

CZR

Caesars

$10.19

-0.07 (-0.68%)

APO

Apollo Global

$29.49

-0.89 (-2.93%)

FB

Facebook

$153.95

-1 (-0.65%)

AAPL

Apple

$219.28

3.3 (1.53%)

AMZN

Amazon.com

$1,763.91

-7.54 (-0.43%)

NFLX

Netflix

$332.69

-14.02 (-4.04%)

GOOGL

Alphabet Class A

$1,104.66

7.43 (0.68%)

GOOG

Alphabet

$1,096.41

8.51 (0.78%)

DIS

Disney

$118.81

2.55 (2.19%)

CMCSA

Comcast

$35.97

0.02 (0.06%)

CMCSK

Comcast

$0.00

(0.00%)

BABA

Alibaba

$142.90

1.1 (0.78%)

TCEHY

Tencent

$0.00

(0.00%)

BIDU

Baidu

$191.93

0.1 (0.05%)

CFG

Citizens Financial

$36.36

1.44 (4.12%)

UA

Under Armour

$16.79

-0.365 (-2.13%)

UAA

Under Armour

$18.20

-0.42 (-2.26%)

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FCAU Fiat Chrysler
$15.52

0.035 (0.23%)

09/12/18
EXAN
09/12/18
UPGRADE
EXAN
Outperform
Fiat Chrysler upgraded to Outperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Dominic O'Brien earlier today upgraded Fiat Chrysler to Outperform from Neutral. The shares in afternoon trading are up 3%, or 48c, to $17.79.
07/10/18
UBSW
07/10/18
UPGRADE
UBSW
Buy
UBS upgrades Fiat Chrysler to Buy ahead of Q2 results
UBS analyst Patrick Hummel upgraded Fiat Chrysler (FCAU) to Buy from Neutral with a price target of EUR 23. The analyst expects the company's "positive volume/mix impact story" to continue in Q2 even with the ramp of the new RAM 1500 truck unlikely to be completed until Q3. Fiat shares should deliver the best earnings momentum among the European car manufacturers in the coming quarters, Hummel tells investors in a research note.
07/17/18
JEFF
07/17/18
NO CHANGE
Target $25
JEFF
Buy
Santander Consumer, Fiat Chrysler tolling agreement doesn't change much, says Jefferies
Jefferies analyst John Hecht notes that Santander Consumer (SC) and Fiat Chrysler (FCAU) entered a tolling agreement that allows both parties additional time to assess their rights, obligations, claims, etc. while not having to worry about the statute of limitations. The analyst believes the tolling agreement does not change much of what is going on. Nonetheless, Hecht notes that the companies also acknowledged they are working to resolve the matter tied to the captive finance, with the agreement indicating that a resolution on this matter may come in months rather than quarters. He reiterates a Buy rating and $25 price target on Santander Consumer shares.
08/07/18
MSCO
08/07/18
NO CHANGE
Target $1325
MSCO
Overweight
Enterprise value of Alphabet's Waymo raised to $175B at Morgan Stanley
Morgan Stanley analyst Brian Nowak increased his enterprise value estimate for Alphabet's Waymo unit from $75B for ride sharing only to $175B given his analyses for two other emerging business models, namely logistics and licensing. He believes Waymo remains on track to launch an autonomous ride hailing service in Phoenix this year and believes this business could be worth about $80B over the long-term. Partnerships with Walmart (WMT), DDR (DDR) and Peterbilt speak to Waymo's logistics focus, said Nowak, who sees the company potentially having a $90B logistics business. Additionally, he sees a roughly $7B licensing opportunity, pointing to the company's FCA (FCAU) relationship as a model of how companies could pay a license fee to Waymo for its autonomous technology. Given his view of Waymo being a key part of Alphabet's long-term value, Nowak raised his sum of the parts valuation to $1,550 from $1,400. He has an Overweight rating and $1,325 price target on Alphabet shares.
KKR KKR
$24.22

-0.45 (-1.82%)

10/18/18
MZHO
10/18/18
NO CHANGE
Target $37
MZHO
Neutral
Mizuho sees maximum Acadia leveraged buyout price at $48 per share
Mizuho analyst Ann Hynes reiterates this morning that her model suggests Acadia Healthcare's (ACHC) maximum leveraged buyout take-out price is $48.00 per share given its current debt levels. The stock in premarket trading is up 8%, or $3.32, to $39.00 after Reuters reported that the company is in talks with private equity firms about selling itself after attracting buyout interest. KKR (KKR) and TPG Global are among the private equity firms that have approached Acadia, according to Reuters. Hynes keeps a Neutral rating on Acadia shares with a $37 price target.
10/17/18
JMPS
10/17/18
INITIATION
Target $21.5
JMPS
Outperform
KKR Real Estate Finance initiated with an Outperform at JMP Securities
JMP Securities analyst Steven DeLaney initiated KKR Real Estate Finance Trust (KREF) with an Outperform rating and $21.50 price target, noting that it has a "seasoned" senior management team and "highly-regarded" sponsor in KKR (KKR).
10/18/18
LEER
10/18/18
NO CHANGE
LEER
Acadia may receive 11-12 times multiple in private equity takeout, says Leerink
Following reports saying KKR (KKR) and TPG Global are reportedly in talks with Acadia (ACHC) on a take-private deal, Leerink analyst Ana Gupte notes that private equity has always been interested in the company given its addiction treatment centers acquired through CRC Health and outpatient focus on eating disorders and substance abuse, though the multiples at which a takeout would be acceptable to Acadia's management were unclear. The analyst expects the recent news flow on understaffing and quality of service delivery at Acadia in the short news report may be driving more willingness to entertain such a take private of the company. Gupte believes a 11-12 times multiple is likely and represents upside of about 35%-55% on the current $35 per share trading price.
10/10/18
10/10/18
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. Vipshop (VIPS) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao saying as the "tough competitive environment and harder-than-expected synergy generation," Vipshop is likely to adjust its strategy to re-focus on core off-season apparel distribution and prioritize profitability over sales growth. 2. International Paper (IP) downgraded to Neutral from Buy at Goldman Sachs while WestRock (WRK) was downgraded to Buy from Conviction Buy. 3. Clorox (CLX), Church & Dwight (CHD), and Kimberly-Clark (KMB) were downgraded to Sell from Hold at Deutsche Bank. 4. Sherwin-Williams (SHW) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying "tough" market comments from companies like H.B. Fuller (FUL), PPG (PPG) and RPM (RPL) suggest that coatings companies are likely to be challenged by rising raw materials costs and slowing growth in key end markets, including China. 5. KKR (KKR) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CZR Caesars
$10.19

-0.07 (-0.68%)

10/01/18
RHCO
10/01/18
INITIATION
Target $13
RHCO
Buy
Caesars assumed with a Buy at SunTrust
SunTrust analyst Barry Jonas assumed Caesars with a Buy rating and a price target of $13 as part of his broader "U.S. Gaming" coverage transfer research report. The analyst is positive on the company's "material margin upside potential given its increasing focus on technology and analytics to rationalize costs" as well as its "M&A/development optionality driven by its leading Total Rewards player rewards database".
09/24/18
09/24/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Idera Pharmaceuticals (IDRA) initiated with an Overweight at Barclays. 2. Caesars (CZR) Entertainment initiated with a Sell at UBS. 3. GreenTree Hospitality (GHG) initiated with a Neutral at Goldman Sachs. 4. AMD (AMD) initiated with an Outperform at RBC Capital. 5. Vonage (VG) assumed with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/18
FBCO
10/17/18
NO CHANGE
FBCO
Caesars, Golden Nugget merger would make sense, says Credit Suisse
Following a news report saying Tilman Fertitta, owner of the Golden Nugget Casinos, has approached casino operator Caesars about merging it with his own gaming empire, Credit Suisse says merger "would make sense" as brands, casino and restaurant assets are "very complementary." Tilman Fertitta would be a "great addition" to management team given he is well known and liked, and a renowned cost cutter, the firm contends.
09/24/18
FBCO
09/24/18
NO CHANGE
FBCO
Caesars defended at Credit Suisse
APO Apollo Global
$29.49

-0.89 (-2.93%)

08/14/18
MSCO
08/14/18
NO CHANGE
Target $42
MSCO
Overweight
Apollo Global's Q3 'setting up well,' says Morgan Stanley
Morgan Stanley analyst Michael Cyprys maintained an Overweight rating and $42 price target on Apollo Global, telling investors in a research note that Q3 is "setting up well" with key fund and balance sheet investments appreciating following a softer Q2 print. He sees Apollo's credit business scaling and new initiatives taking hold that could drive significant upside to fee-related earnings.
07/24/18
BMOC
07/24/18
NO CHANGE
Target $62
BMOC
Market Perform
LifePoint price target raised to $62 from $51 at BMO Capital
BMO Capital analyst Matt Borsch raised his price target on LifePoint (LPNT) to $62 and kept his Market Perform rating after the proposed transaction for the company to be taken private by the Apollo Global (APO) affiliate RCCH HealthCare Partners at $65 per share. The analyst says his price target reflects the acquisition price blended with some uncertainty regarding the deal, even as he views the terms of the offer as attractive to LifePoint shareholders against the"backdrop of reimbursement and volume pressures that challenge acute care hospitals".
08/28/18
BUCK
08/28/18
NO CHANGE
BUCK
Buckingham sees RenaissanceRe, Axis Capital trading up on Aspen deal news
Buckingham analyst Amit Kumar called the multiple Apollo Global (APO) agreed to pay to acquire Aspen Insurance (AHL) "a tad underwhelming compared to other recent deals," which he attributes to Aspen's hand being forced by the fast approaching peak hurricane season and investor skepticism on its standalone future. Given the drawn out process, he sees a lower likelihood of a competing bidder emerging, Kumar tells investors, adding that he expects both RenaissanceRe (RNR) and Axis Capital (AXS) to trade up on the deal news.
10/01/18
GSCO
10/01/18
UPGRADE
Target $45
GSCO
Conviction Buy
Apollo Global upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein added Apollo Global Management to his firm's Conviction List while keeping a Buy rating on the shares. Apollo at current valuation levels is now the only Alternative Manager to which the market still ascribes a negative value to future incentive earnings, Blostein tells investors in a research note. The analyst believes Apollo's investment performance is strengthening and its realization outlook is improving into 2019 and 2020. He has a $45 price target for the shares.
FB Facebook
$153.95

-1 (-0.65%)

10/16/18
10/16/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Abbott (ABT), Boston Scientific (BSX), Stryker (SYK), and Medtronic (MDT) were initiated with an Overweight at Barclays, while Baxter (BAX), Edwards Lifesciences (EW), and Zimmer Biomet (ZBH) were initiated with an Underweight. 2. Expedia (EXPE) was initiated with an Outperform at Evercore ISI, while TripAdvisor (TRIP) was initiated with an In Line, and Booking Holdings (BKNG) was initiated with an In Line. 3. Facebook (FB) was initiated with a Buy at Loop Capital and Rosenblatt. 4. Snap (SNAP) initiated with a Hold at Loop Capital. 5. VF Corp. (VFC) initiated with a Neutral at Wedbush. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/18
RSBL
10/16/18
INITIATION
Target $213
RSBL
Buy
Facebook initiated with a Buy at Rosenblatt
Rosenblatt analyst Mark Zgutowicz started Facebook with a Buy rating in a note partially entitled "Facebook: Value, Not Trap." Given the stock's current valuation, there appears to be little confidence consensus expectations will be met and he is "in that camp," forecasting calendar 2019 EPS that is about 8% below consensus, Zgutowicz tells investors. However, with that said, he sees the anticipated EPS shortfall as priced in the shares and would be a buyer of the stock in front of the Q3 report, stating that he sees a bottoming for News Feed fatigue and enough light ahead with new product innovation and Instagram and Watch optionality. Zgutowicz set a $213 price target on Facebook shares.
10/16/18
10/16/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. NEEDHAM SAYS BUY TAPESTRY: Needham analyst Rick Patel upgraded Tapestry to Buy from Hold and kept his $50 price target. The analyst notes that after a 14% selloff in the stock price driven by tariff-related concerns and the slowdown of Asia sales at LVMH, the risk-reward is favorable. Patel estimates that the hit to EPS from the impact of the handbag tariff should be "relatively modest" at about 1%. The analyst further notes that Tapestry has "ample white space" for long term growth in China through new distribution, while its North America sales indicate "well-controlled promotions" for Coach and Kate Spade. ANALYSTS SAY BUY FACEBOOK IN NEW INITIATIONS: Loop Capital analyst Alan Gould initiated Facebook with a Buy rating and a price target of $210, saying the stock is valued "quite attractively" after a "strong year financially and a challenging year operationally". The analyst also notes that the company's guidance is likely "conservative" given the company's propensity to beat consensus estimates. Meanwhile, Rosenblatt analyst Mark Zgutowicz started Facebook with a Buy rating in a note partially entitled "Facebook: Value, Not Trap." Given the stock's current valuation, there appears to be little confidence consensus expectations will be met and he is "in that camp," forecasting calendar 2019 EPS that is about 8% below consensus, Zgutowicz tells investors. However, with that said, he sees the anticipated EPS shortfall as priced in the shares and would be a buyer of the stock in front of the Q3 report, stating that he sees a bottoming for News Feed fatigue and enough light ahead with new product innovation and Instagram and Watch optionality. Zgutowicz set a $213 price target on Facebook shares. TILRAY TARGET SET AT $200 AS CANADA GETS READY TO LEGALIZE: Benchmark analyst Mike Hickey initiated coverage of Tilray with a Buy rating and $200 price target, citing its early leadership in the medical cannabis market in Canada and the upcoming legalization of recreational cannabis, which begins in the North American nation tomorrow. He believes the company's strategic alliance with Novartis (NVS) and supply agreements with Canadian pharmacies that give Tilray a competitive edge in the Canadian medical cannabis market, Hickey tells investors. He also believes the potential international opportunity is "enormous," estimating that the global cannabis market opportunity could exceed $200B over the long-term. JEFFERIES SEES NO COMPETING BIDS FOR PINNACLE: Jefferies analyst Akshay Jagdale downgraded Pinnacle Foods (PF) to Hold from Buy and lowered his price target for the shares to $68 from $72. The analyst assumes Conagra Brands' (CAG) bid to buy the company for $68 will go through without any competing bids. The stock should trade in line with its $68 transaction price until completion of the deal, Jagdale tells investors. GOLDMAN PREDICTS AVIS, HERTZ OUTLOOKS WILL DISAPPOINT: Goldman Sachs analyst David Tamberrino nudged the price target on Avis Budget (CAR) lower to $30 from $31 while keeping the price target on Hertz at $13 as part of his broader research note previewing Q3 results for the two Sell-rated U.S. car rental names. The analyst notes that Hertz (HTZ) may top Q3 consensus earnings and Avis Budget could miss based on his analysis of their respective pricing trends and residual values, but both have an added risk from reduced airport volume growth amid tightening competition among the ride hailing operators like Uber and Lyft. Tamberrino expects the car rental industry to remain challenged overall, noting that positive pricing will not be sustained, residual values will be pressured as more cars come off lease, and rising interest rates exert pressure on their balance sheets' high debt levels.
10/17/18
BARD
10/17/18
NO CHANGE
Target $195
BARD
Outperform
Facebook near-term risks embedded in shares, says Baird
Baird analyst Colin Sebastian expects Facebook's Q3 results to confirm slowing core growth amid reallocation of some spending to Instagram and potentially other sites. He believes the shares have embedded some downside risk to consensus estimates with out-year Street margin expectations likely to compress further. Sebastian is maintaining his Outperform rating and $195 price target on Facebook shares.
AAPL Apple
$219.28

3.3 (1.53%)

10/18/18
WEDB
10/18/18
INITIATION
WEDB
Outperform
Apple initiated with an Outperform at Wedbush
10/18/18
MSCO
10/18/18
NO CHANGE
Target $247
MSCO
Overweight
Morgan Stanley says China a near-term headwind for Apple's App Store growth
Morgan Stanley analyst Katy Huberty noted that data from Sensor Tower imply App Store net revenue recognized by Apple of $3.6B in the September quarter, which would be a quarterly high but below her forecast of $3.8B. Assuming her other estimates for Services are correct, this would imply September quarter Services revenue of $9.8B, which Huberty notes would be below her current $10.0B estimate and below the current consensus of $10.1B. She said a pause in new gaming approvals in China, coupled with fear of economic slowdown there, present a near-term headwind for App Store growth, but she sees limited downside to near-term Apple estimates and remains bullish on Services growth over the longer-term. Huberty keeps an Overweight rating and $247 price target on Apple shares.
10/19/18
WEDB
10/19/18
INITIATION
Target $310
WEDB
Outperform
Wedbush starts Apple with Outperform rating and $310 price target
Wedbush analyst Daniel Ives last night initiated coverage of Apple with an Outperform rating and $310 price target. The analyst added the shares to his firm's Best Ideas List. He believes pent-up demand will upside to 2019 iPhone shipment estimates. An analysis shows that 350M iPhones are in the "window of opportunity" to upgrade over the next 12 to 18 months, Ives tells investors in a research note. Further, the analyst believes the features and pricing for the new iPhones help put Chinese consumers "front and center."
10/19/18
10/19/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Apple (AAPL) initiated with an Outperform at Wedbush. 2. Copa Holdings (CPA) initiated with an In-Line at Imperial Capital. 3. AMD initiated with a Sell at New Street Research. 4. Pacific Biosciences (PACB) initiated with an Outperform at Cowen. 5. ViewRay (VRAY) initiated with an Outperform at Baird. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
AMZN Amazon.com
$1,763.91

-7.54 (-0.43%)

10/19/18
PIPR
10/19/18
NO CHANGE
PIPR
Piper Jaffray lists 'stocks to own' following tech sector sell-off
Piper Jaffray's tech analysts highlighted their "stocks to own" following the recent sell-off in the technology sector. The firm's top picks across each coverage universe include Amazon.com (AMZN), Broadcom (AVGO), Salesforce (CRM), Finisar (FNSR), Microchip (MCHP), Mellanox (MLNX), ServiceNow (NOW), Nutanix (NTNX), Proofpoint (PFPT), Impinj (PI), Take-Two (TTWO) and Twilio (TWLO).
10/17/18
LOOP
10/17/18
NO CHANGE
Target $385
LOOP
Hold
Netflix price target raised to $385 from $365 at Loop Capital
Loop Capital analyst Alan Gould raised his price target on Netflix (NFLX) to $385 from $365 after its reported strong subscription adds in Q3 and expectations of more adds in Q4. The analyst also points to the management's FY19 operating margin target of 13% - up from 10%-11% target for FY18 - and expectations of "peak" negative free cash flows in the next two years. Gould also keeps his Hold rating on Netflix given the ongoing risks around competition from Amazon (AMZN) and other content providers along with a strong USD weighing on international sales.
10/18/18
DADA
10/18/18
NO CHANGE
Target $2450
DADA
Buy
Impact from Amazon's minimum wage hike to come into focus, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $2,450 price target on Amazon.com ahead of its Q3 results next Thursday, saying the company's "profit engines" - advertising, AWS, and 3rd party sales - will be in focus. The analyst also expects investors to pay particularly close attention to Amazon's Q4 outlook after the management's decision to boost its minimum wage to $15 per hour effective November 1st, adding that he would not be surprised if payroll expenses were forecast to rise by mid-single digits.
10/19/18
PIPR
10/19/18
NO CHANGE
Target $2100
PIPR
Overweight
Amazon search index points to retail upside in Q3, says Piper Jaffray
Piper Jaffray analyst Michael Olson says his reformulated Amazon search index points to currency neutral online retail revenue growing 26% year-over-year in Q3, above Street estimates calling for 18.1%, or a 19 point deceleration from 37.1% growth in Q2. The analyst raised his modeled online retail revenue growth number to 18.3% from 14.1%, and continues to expect moderate margin expansion due to ongoing strength in Web Services and advertising segments. He reiterates an Overweight rating on Amazon.com with a $2,100 price target.
NFLX Netflix
$332.69

-14.02 (-4.04%)

10/18/18
ARGS
10/18/18
NO CHANGE
ARGS
Hold
Netflix valuation remains 'significantly higher' than peers, says Argus
Argus analyst Joseph Bonner kept his Hold rating on Netflix after its Q3 results, saying that while the quarter saw a beat on its streaming membership subscriber adds, it also forecast a decline in operating income with some costs slipping into the next quarter. The analyst also lowers his FY18 EPS view to $2.66 from $2.83 and FY19 EPS view to $4.20 from $4.36, noting that although the market reaction to earnings was positive, Netflix took on more debt to ramp up its original production and content licensing, which resulted in a "stunningly high cash burn rate". Bonner continues to see Netflix stock trading at "significantly higher than peers" multiples on historical and forward basis even as it attracts a host of competitors.
10/18/18
OPCO
10/18/18
NO CHANGE
Target $410
OPCO
Outperform
Netflix price target raised to $410 from $370 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Netflix to $410 from $370 after the company reported better than expected Q3 results and Q4 guidance. The analyst believes better Q4 International subscriber guidance bodes well for 2019 outlook and long-term global penetration. While bears will point to lower Q4 margin guidance, he thinks Netflix continues to build a bigger moat as the majority of content spend is through its internal studio, which protects the company from media consolidation and forthcoming over-the-top services. Helfstein now estimates 2025 global broadband penetration of 35%, with additional upside as 5G allows the company to create a mobile offering. He reiterates an Outperform rating on the shares.
10/17/18
10/17/18
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. Infosys (INFY) downgraded to Neutral from Buy at Goldman Sachs with analyst Sumeet Jain saying yesterday's Q2 results were in-line but at the expense of "unexpectedly" higher investments. 2. Netflix (NFLX) downgraded to Sector Weight from Overweight at KeyBanc with analyst Andy Hargreaves citing quarterly results. While the analyst maintains a favorable view of Netflix's strategic positioning, he believes improving investment efficiency or significant ancillary opportunities are needed to drive upside from current levels, and he does not anticipate either over the next year. 3. Home Depot (HD), Lowe's (LOW), KB Home (KBH), and Lennar (LEN) were downgraded to Neutral from Outperform at Credit Suisse. 4. Del Taco (TACO) downgraded to Neutral from Buy at BTIG with analyst Peter Saleh citing the "combination of negative traffic and rising food and labor inflation" weighing on its prospects for the coming year, adding that while he is optimistic on its promotions and delivery potential, he is also worried about customers being discouraged by the company's higher pricing. 5. Scorpio Bulkers (SALT) downgraded to Neutral from Overweight at JPMorgan with analyst Noah Parquette citing the company's related party transactions and recent investment in Scorpio Tankers (STNG) for the downgrade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/18
ROTH
10/19/18
NO CHANGE
Target $3
ROTH
Buy
Roth Capital sees Digital Turbine powering Verizon pre-installs of Netflix app
Roth Capital analyst Darren Aftahi said he believes Digital Turbine's (APPS) software is powering Verizon's (VZ) pre-installations of the Netflix (NFLX) app on Android phones, which he noted the streaming service partially attributed for its solid domestic subscriber add performance in Q3. The success Netflix has seen has the potential to expand to other carriers and markets and provide a tailwind for Digital Turbine, said Aftahi, who keeps a Buy rating and $3 price target on the shares.
GOOGL Alphabet Class A
$1,104.66

7.43 (0.68%)

10/18/18
10/18/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) initiated with an Outperform at Wedbush. 2. BJ's Wholesale (BJ) initiated with a Perform at Oppenheimer. 3. Comcast (CMCSA) initiated with an Outperform at Evercore ISI. 4. Thomson Reuters (TRI) reinstated with a Neutral at Goldman Sachs. 5. Atomera (ATOM) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/18
FBCO
10/19/18
NO CHANGE
Target $1500
FBCO
Outperform
Alphabet price target raised to $1500 from $1375 at Credit Suisse
Credit Suisse analyst Stephen Ju reiterated an Outperform rating on Alphabet and raised his price target to $1,500 from $1,375 ahead of the company's Q3 results on October 25. Near term, Ju tells investors in a research note that advertiser checks suggest a positive ad budget and spend environment with only modest deceleration for search and ongoing YouTube acceleration. As for Google's proposal to comply with the EU's requirements for Android bundling, Ju does not anticipate a change from the status quo as he expects the majority of handset manufacturers to voluntarily bundle Google's apps versus electing to either lose market share or take on the cost of OS/app development.
10/17/18
WEDB
10/17/18
INITIATION
WEDB
Outperform
Alphabet initiated with an Outperform at Wedbush
10/17/18
WEDB
10/17/18
INITIATION
Target $1350
WEDB
Outperform
Wedbush starts 'ad king' Alphabet with Outperform, $1,350 price target
Wedbush analyst Michael Pachter initiated coverage of Alphabet (GOOGL) with an Outperform rating and $1,350 price target. In a research note titled "Long Live the Ad King," Pachter says he expects Google to "maintain positive ad momentum" even amidst pressure from Facebook (FB) and Amazon.com (AMZN). The analyst also thinks cost control efforts will drive better than expected Q3 results when Alphabet reports on October 25.
GOOG Alphabet
$1,096.41

8.51 (0.78%)

10/12/18
WEDB
10/12/18
UPGRADE
Target $6.5
WEDB
Outperform
Fitbit upgraded to Outperform from Neutral at Wedbush
Wedbush analyst Michael Pachter upgraded Fitbit (FIT) to Outperform from Neutral, citing the company's expansion into the healthcare/MedTech vertical. In a research note to investors, Pachter says Fitbit has captured a large share of both the smartwatch and fitness tracker markets, but its watches must compete with Apple's (AAPL) offering. He thinks Fitbit has an "excellent" opportunity ahead with MedTech, particularly in collaboration with Google (GOOG, GOOGL), and believes Fitbit may begin reporting meaningful contribution from MedTech as early as 2019. Pachter also notes that shares have recently pulled back well below his $6.50 price target, providing an opportunity to get involved in the Medtech vertical at a reasonable price.
10/12/18
OPCO
10/12/18
NO CHANGE
Target $265
OPCO
Outperform
Baidu price target cut to $265 from $295 at Oppenheimer
Oppenheimer analyst Jason Helfstein reiterated an Outperform rating on Baidu (BIDU) but cut his price target to $265 from $295 citing valuation, higher near-term investments, as well as the firm's recently-lowered price target for Ctrip (CTRP) and the recent downward movement of iQIYI (IQ) shares. In a research note to investors, Helfstein contends that investors' concern around macro/trade war and the risk of Google's (GOOG, GOOGL) re-entrance into China are "overstated," especially the Google piece, due to increased U.S. government scrutiny.
DIS Disney
$118.81

2.55 (2.19%)

10/19/18
LEHM
10/19/18
UPGRADE
Target $130
LEHM
Overweight
Barclays sees Disney becoming 'core holding' again, upgrades to Overweight
Barclays analyst Kannan Venkateshwar upgraded Disney to Overweight from Equal Weight and raised his price target for the shares to $130 from $105. The shares closed yesterday down 91c to $116.18. The stock is likely to become a "core holding" again, Venkateshwar tells investors in a research note partially titled "The Force Awakens." While almost everything about Disney's over-the-top story is conjecture and success is not a given, the company has the "key mix of assets to be successful and the opportunity from this pivot could be substantial," contends the analyst. He believes Disney's investor day could prove to be a catalyst to frame the scale of the OTT opportunity and help the company build a credible terminal value "story"' around the stock. And the analyst thinks current media multiples are more about terminal value optionality than near-term core trends. "In this respect, there are a few other names with a credible terminal value story other than Disney," writes Venkateshwar.
10/19/18
10/19/18
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. Disney (DIS) upgraded to Overweight from Equal Weight at Barclays with analyst Kannan Venkateshwar saying the stock is likely to become a "core holding" again. 2. Dentsply Sirona (XRAY) double upgraded to Buy from Sell at Goldman Sachs with analyst Nathan Rich saying he now believes consensus estimates are achievable and that Dentsply's valuation is attractive relative to Medtech peers. 3. PayPal (PYPL) upgraded to Buy from Neutral at BTIG with analyst Mark Palmer saying the company's Venmo monetization progress was the deciding factor in his rating change. 4. Roku (ROKU) upgraded to Outperform from Sector Perform at RBC Capital with analyst Mark Mahaney saying the company's valuation has become more attractive following a 25% pullback in its stock price but believes Roku offers the "best opportunity for upwards estimates revisions." 5. O'Reilly Automotive (ORLY) upgraded to Overweight from Neutral at JPMorgan with analyst Christopher Horvers saying he sees "strong" fundamentals with "structurally positive industry factors." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/15/18
MSCO
10/15/18
NO CHANGE
Target $135
MSCO
Overweight
Disney shares appear 'compelling' at current levels, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne believes Disney (DIS) shares appear "compelling" at a current valuation of under 13x "core" FY20 pro forma EPS given the company's opportunity to maximize the potential of the acquired Fox (FOXA) assets and scale a direct-to-consumer business. He attributes investor reluctance to own Disney shares to uncertainty about its ability to simultaneously execute on a large acquisition, launch a global direct-to-consumer business and grow, but Swinburne sees this "complexity discount" as an opportunity, he tells investors. He maintains an Overweight rating on Disney shares with a $135 price target.
10/19/18
LEHM
10/19/18
UPGRADE
Target $130
LEHM
Overweight
Disney upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Kannan Venkateshwar upgraded Disney to Overweight from Equal Weight and raised his price target for the shares to $130 from $105.
CMCSA Comcast
$35.97

0.02 (0.06%)

10/12/18
JPMS
10/12/18
INITIATION
Target $42
JPMS
Overweight
Comcast reinstated with an Overweight at JPMorgan
JPMorgan analyst Philip Cusick reinstated coverage of Comcast with an Overweight rating and $42 price target following a period of restriction. The analyst says that while the Sky deal may position the company well long term, he doesn't "love it" due to the increased leverage and added complexity versus "what was previously a fairly simple story." However, Sky will account for just 9% of total company EBITDA and it may be too early to tell whether Comcast's foray into Europe will pan out at this point, Cusick tells investors in a research note. The analyst believes Comcast's current valuation is "compelling" given its top-line and EBITDA growth profile relative to mega cap peers.
10/12/18
10/12/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Comcast (CMCSA) reinstated with an Overweight at JPMorgan. 2. Abeona Therapeutics (ABEO) initiated with a Buy at Mizuho. 3. Foamix (FOMX) initiated with an Overweight at Cantor Fitzgerald. 4. Match Group (MTCH) and IAC (IAC) were initiated with a Buy at Nomura Instinet while Angi Homeservices (ANGI) was initiated with a Neutral at Nomura Instinet. 5. Terex (TEX) initiated with a Neutral at Longbow. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/18/18
EVER
10/18/18
INITIATION
Target $44
EVER
Outperform
Comcast initiated with an Outperform at Evercore ISI
Evercore ISI analyst Vijay Jayant resumed coverage on Comcast with an Outperform and $44 saying the Sky transaction diversifies the company's business internationally, with free cash flow share accretion in 2019E.
CMCSK Comcast
$0.00

(0.00%)

10/03/18
STFL
10/03/18
NO CHANGE
Target $155
STFL
Buy
Trade Desk pullback due to misplaced concerns about Amazon, says Stifel
Stifel analyst John Egbert raised his mid- and long-term estimates for Trade Desk (TTD) citing momentum from new advertiser wins and the fact that platform spend and attach rates are benefiting from the recent New Wave product launch. He believes recent weakness in Trade Desk shares may be related to worries over online reports suggesting Amazon (AMZN) has discussed building a proprietary video ad serving product for its own streaming business, but sees these concerns as misplaced, Egbert added. Based on the available information, it seems like Amazon is focusing on video ad server technology, not a connected TV ad buying software tool, which would pit it against Trade Desk partners Comcast's (CMCSA) Freewheel and Google (GOOGL) Ad Manager, not Trade Desk itself, Egbert explains. He maintains a Buy rating on Trade Desk and raised his price target on the stock to $155 from $130.
07/25/18
JPMS
07/25/18
NO CHANGE
JPMS
Overweight
Invalidated patent 'not material' to TiVo court fight, says JPMorgan
JPMorgan analyst Sterling Auty noted that the USPTO's Patent Trial and Appeal Board has declared patent 8,433,696 held by TiVo (TIVO) to be invalid as it believes that the technology involves a variation of earlier know-how. While a "scary headline," the reality is this does not matter in terms of TiVo's court case with Comcast (CMCSA), since this patent was dropped from the case, said Auty, who keeps an Overweight rating on TiVo shares.
09/24/18
BERN
09/24/18
NO CHANGE
BERN
Sky's bidding war outcome 'best possible result' for Disney, says Bernstein
Bernstein analyst Todd Juenger says this weekend's outcome of the bidding war for Sky (SKYAY) was "the best possible result" for Disney (DIS). The analyst argues that he never understood why Disney would want to operate a European DBS business, and never understood how Sky would contribute to Disney's DTC strategy. Rather than pay such a premium like Comcast (CMCSA), Disney can now get "paid" that premium, assuming Fox (FOXA) agrees to sell and deliver the proceeds to Disney in lieu of the shares they had promised, the analyst contends.
07/13/18
07/13/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. VF CORP DOUBLE UPGRADE: BofA Merrill Lynch analyst Robert Ohmes upgraded VF Corp (VFC) to Buy from Underperform and raised his price objective to $96 from $65 ahead of the company's earnings report on July 20, telling investors in a research note that he believes Vans will be a "go-to-brand" for the back-to-school selling season. He said his channel checks indicate accelerating momentum in Vans, especially classic styles, and that the $50-$60 price point is attractive given consumers' shift to value. RAYMOND JAMES DOWNGRADES AT&T: Raymond James downgraded AT&T (T) to Market Perform from Outperform. Analyst Frank Louthan said he views the Department of Justice appeal of the Time Warner case as a negative and said it is a "frustrating delay." Louthan expects the suit to be a "significant overhang" for an extended period of time, which will limit share appreciation, but remains confident AT&T will prevail. AT&T is lower by 2% in late morning trading. STIFEL STARTS GALMED WITH A BUY: Stifel analyst Adam Walsh initiated Galmed (GLMD) with a Buy rating and $35 price target, calling it a "legitimate late-stage NASH play" after Aramchol recently proved itself in a Phase 2 trial as a clearly active and "very safe" compound for treating NASH. Galmed is trading higher by over 17% in late morning trading. MORGAN STANLEY HIKES WWE TARGET TO $100: Morgan Stanley analyst Benjamin Swinburne said that WWE (WWE), by securing rights fees in its new five-year agreements with NBC (CMCSA, CMCSK) and Fox (FOX, FOXA) that are 3.6 times higher than its prior five-year broadcast agreement with NBC, has gained a "massive increase" in earnings power and "extremely high" visibility into the associated revenue. Given the recently announced deals, he raised his price target on WWE shares to $100 from $58 and kept an Overweight rating on the stock. WILLIAM BLAIR CALLS KEMPER PULLBACK 'BUYING OPPORTUNITY': William Blair analyst Adam Klauber said he views shares of Kemper (KMPR) as "even more attractive" after the recent pullback, which he attributes to selling pressures from Infinity Property shareholders receiving Kemper stock. Klauber said Kemper "continues to be our top conviction idea," and kept an Outpeform rating on the name. Kemper is higher by 4.8% in late morning trading.
BABA Alibaba
$142.90

1.1 (0.78%)

10/10/18
KEYB
10/10/18
NO CHANGE
Target $215
KEYB
Overweight
Alibaba price target lowered to $215 from $220 at KeyBanc
KeyBanc analyst Hans Chung lowered his price target for Alibaba to $215 from $220 on lower expectations for Core Commerce, with downward revisions in CM and New Retail revenue. EBITA margin is lower as a result of lower revenue and higher content cost, he notes. Despite challenges for Alibaba to meet FY19 guidance given the near-term impact from the new Taobao upgrade and uncertainty around China's macro, Chung remains constructive on the longer-term opportunity and potential in Alibaba. He reiterates an Overweight rating on the shares.
10/12/18
UBSW
10/12/18
NO CHANGE
Target $220
UBSW
Buy
Alibaba price target lowered to $220 from $230 at UBS
UBS analyst Jerry Liu lowered his price target on Alibaba to $220 from $230 and he lowered his estimates as well. The analyst revisions come as he factors in more macro weakness, but he believes the company remains well positioned against competitors and said it remains his top pick. Liu reiterated his Buy rating on Alibaba shares.
10/18/18
OPCO
10/18/18
NO CHANGE
Target $210
OPCO
Outperform
Alibaba price target lowered to $210 from $230 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered his price target for Alibaba to $210 from $230 as he now expects softer core commerce revenue, mainly due to modestly slower e-commerce industry trends and mix to non-paid product recommendations. In addition, the analyst also expects investments at New Retail, Ele.me and DME to have a greater impact on near-term margins. Helfstein reiterates an Outperform rating on the shares as he expects trade war rhetoric to subside after mid-term elections.
10/12/18
STFL
10/12/18
NO CHANGE
Target $200
STFL
Buy
Stifel replaces Alibaba with Amazon on Select List after target drop
Stifel analyst Scott Devitt removed Alibaba (BABA) from his firm's Select List and replaced it with Amazon.com (AMZN). The analyst cites an "increasingly uncertain" China macro environment and near-term optimism for Amazon for the change. He also updated his Alibaba model, which resulted in near-term revenue growth assumptions that are 300 basis points lower versus his prior forecast. However, despite the difficult China market backdrop, Devitt continues to view Alibaba as a core long-term holding. He lowered his price target for the shares to $200 from $220 while keeping a Buy rating on the name.
TCEHY Tencent
$0.00

(0.00%)

08/20/18
NOMU
08/20/18
NO CHANGE
NOMU
Buy
China watchdogs said to likely restart game reviews soon, says Nomura Instinet
Nomura Instinet analyst Jialong Shi noted that over the weekend posts on Weibo said China's online game watchdogs will likely restart game reviews as early as September, adding that a few of his online gaming contacts have also heard lately from relevant watchdogs that the review of new games should restart soon. If game reviews do resume in September, Tencent's (TCEHY) PUBG Mobile and Fortnite are likely to receive licenses for monetization in Q4 at the earliest, said Shi, who believes Tencent and NetEase (NTES) would benefit from improved sentiment and outlooks if Chinese regulators restart reviews.
08/22/18
LEHM
08/22/18
NO CHANGE
Target $55
LEHM
Overweight
Tencent price target lowered to $55 from $59 at Barclays
Barclays analyst Gregory Zhao lowered his price target for Tencent Holdings to $55 following the company's Q2 results to reflect the impact from monetization approval delay to mobile gaming revenue as well as the negative efforts to interest revenue due to the deposit rate increase. The analyst keeps an Overweight rating on the shares.
09/13/18
GSCO
09/13/18
INITIATION
Target $31.9
GSCO
Buy
Pinduoduo initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Piyush Mubayi started Pinduoduo (PDD) with a Buy rating and $31.90 price target, identifying it as the "fastest-growing internet company in the world" in terms of revenue growth. He sees Pinduoduo being well positioned to benefit from continuous growth of China e-commerce based on its popular app and Tencent's (TCEHY) social networks.
08/16/18
JEFF
08/16/18
NO CHANGE
Target $90
JEFF
Buy
China approval freeze creates buying opportunity in Activision, says Jefferies
Jefferies analyst Timothy O'Shea said he views China having frozen mobile game approvals as a temporary problem and "mostly a non-issue" as only the monetization approval process has been frozen, not the content approval process, and he note administrators are already implementing a fast-track approval process to alleviate the problem. Activision Blizzard's (ATVI) upcoming Call of Duty mobile game was expected to launch in China this year, but O'Shea said this is a smaller game that is not in his estimates, adding that Tencent (TCEHY) gets 70% of the revenue under its deal for the game. Activision has a pipeline of new mobile games coming that he would still expect to launch in China over time and O'Shea sees the 15% pullback in the game maker's shares in the last month as a buying opportunity, he tells investors. He maintains a Buy rating and $90 price target on Activision Blizzard shares.
BIDU Baidu
$191.93

0.1 (0.05%)

09/06/18
SUSQ
09/06/18
INITIATION
Target $325
SUSQ
Positive
Baidu initiated with a Positive at Susquehanna
Susquehanna analyst Shyam Patil initiated Baidu with a Positive and $325 price target saying its a 20%+ grower with upside to estimates and the multiple with little downside risk. Patil said the company has several initiatives underway that will drive upside over the near-to-intermediate-term with longer-term AI projects, including Apollo and DuerOS, that have significant incremental opportunities, representing call options
09/07/18
09/07/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA DOUBLE UPGRADES AK STEEL: BofA Merrill Lynch analyst Timna Tanners double upgraded AK Steel (AKS) to Buy from Underperform and raised its price target to $6 from $5. Tanners is now modeling 2019 spot benchmark hot rolled coil at $750/short ton versus $700 previously and expects 85% of AK Steel's sheet business that is on fixed-price contracts will have a substantial increase in 2019. In mid-morning trading, AK Steel is up 2%. MACQUARIE CUTS WELLS FARGO TO NEUTRAL: Macquarie analyst David Konrad downgraded Wells Fargo (WFC) to Neutral from Buy with a $63 price target based on valuation and near-term estimates falling below expectations. Konrad said valuation has moved in-line relative to peers following favorable expense guidance and the strong CCAR results, and believes it will take a few more quarters before leverage drives higher earnings. SUSQUEHANNA INITIATES BAIDU, JD.COM: Susquehanna analyst Shyam Patil initiated Baidu (BIDU) with a Positive rating and $325 price target, saying its a 20%+ grower with upside to estimates and the multiple with little downside risk. Patil said the company has several initiatives underway that will drive upside over the near-to-intermediate-term with longer-term AI projects that represent call options. Patil also initiated JD.com (JD) with a Neutral rating and $30 price target, saying he is concerned Alibaba (BABA) will continue to be an e-commerce category killer in China and will remain aggressive in its efforts to take share from JD. GOLDMAN RAISES APPLE TARGET TO $240: Goldman Sachs analyst Rod Hall outlined his expectations for Apple's (AAPL) new product event on September 12, stating that he expects three new iPhones at better price points. He also expects Apple to announce two new AppleCare+ Plans associated with the iPhone 9 and the Xs+ and raised his Services forecast to account for an overall mix of AppleCare+ skewed towards higher priced plans. Hall raised his price target on Apple shares to $240, but maintained a Neutral rating on the stock. BOFA DEFENDS MICRON: BofA Merrill Lynch analyst Simon Woo kept his Buy rating and $100 price target on Micron (MU), saying the fundamentals of the company's earnings remain solid, and the recent correction in the stock price is likely "sentiment related". The analyst notes that the company is still headed for "record-high revenue/profit," and the stalled rise in memory chip prices does not signal a market downturn.
10/09/18
UBSW
10/09/18
NO CHANGE
Target $280
UBSW
Buy
Baidu price target lowered to $280 from $310 at UBS
UBS analyst Jerry Liu lowered his price target on Baidu (BIDU) to $280 from $310 but said he is incrementally more positive on the shares as he believes the company's improving news feed will offset slower growth in search. Google (GOOG) search is an overhang, but the probability of Google Search entering China is decreasing based on comments from Google management, Liu tells investors. He reiterated his Buy rating on Baidu shares.
CFG Citizens Financial
$36.36

1.44 (4.12%)

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.
05/30/18
BARD
05/30/18
UPGRADE
Target $46
BARD
Outperform
Citizens Financial upgraded to Outperform at Baird
As reported previously, Baird analyst David George upgraded Citizens Financial to Outperform from Neutral. The analyst cited yesterday's weakness as a buying opportunity as the Italian bond and U.S. Treasury yields weighed on the banks. He likes the improving operating leverage, capital return, and discounted valuation of Citizens and maintained his $46 price target on the shares.
05/30/18
BARD
05/30/18
UPGRADE
BARD
Outperform
Citizens Financial upgraded to Outperform from Neutral at Baird
04/23/18
BMOC
04/23/18
NO CHANGE
Target $52
BMOC
Outperform
Citizens Financial price target lowered to $52 from $56 at BMO Capital
BMO Capital analyst Lana Chan lowered her price target on Citizens Financial to $52, saying that despite the Q1 earnings beat, the underlying trends were mixed with weak loan growth and weak fees along with a lower loan loss provision and better net interest margins. Chan keeps her Outperform rating on Citizens Financial, maintaining her positive outlook toward improvement in "below-peer profitability metrics through balance sheet optimization, improved fee income productivity, and higher capital returns".
UA Under Armour
$16.79

-0.365 (-2.13%)

09/21/18
JPMS
09/21/18
UPGRADE
Target $20
JPMS
Neutral
Under Armour upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Matthew Boss upgraded Under Armour to Neutral and raised his price target for the shares to $20 from $16. The analyst views the stock's risk/reward as more balanced following the recent underperformance. Further, Under Armour's multi-year margin initiative announced yesterday "protect this house," Boss tells investors in a research note.
09/21/18
09/21/18
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. Under Armour (UA, UAA) upgraded to Neutral from Underweight at JPMorgan with analyst Matthew Boss saying he views the stock's risk/reward as more balanced following the recent underperformance. 2. Acadia (ACAD) upgraded to Overweight from Neutral at Piper Jaffray with analyst Danielle Brill citing the FDA announcement of maintained support for Nuplazid after its review. 3. AT&T (T) upgraded to Buy from Neutral at UBS with analyst John Hodulik saying the stock is trading near all-time low valuations, and at its widest valuation gap to Verizon (VZ), given a mix of EBITDA declines, concerns over the debt load and secular issues impacting the space. 4. Diamond Offshore (DO) upgraded to Buy from Hold at HSBC. 5. Ingersoll-Rand (IR) upgraded to Overweight from Neutral at JPMorgan with analyst Stephen Tusa saying he views the stock's discounted valuation relative to peers as unwarranted following the company's transformation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/18
JEFF
09/27/18
NO CHANGE
JEFF
Under Armour promos down for six straight month, says Jefferies
Jefferies analyst Randal Konik says his firm's September webscrapes illustrate that Under Armour's (UAA) percentage of product on discount is down for the sixth month in a row, while Adidas's (ADDYY) is up seven months in a row. Visits to Finish Line (FINL), Foot Locker (FL), and Under Armour websites reveal the HOVR and Curry 5 are sold out in several sizes and colors, indicating growing brand awareness, Konik tells investors in a research note. He believes Under Armour's promos being down bode well for the company's Q3 results. Further, Nike (NKE) continues to regain share from Adidas in running across the U.S., with strength in Air VaporMax, Air Max 270, and Roshe One, the analyst adds.
08/29/18
BARD
08/29/18
NO CHANGE
Target $27
BARD
Outperform
Under Armour selloff on Dick's 'head fake' a buying opportunity, says Baird
Baird analyst Jonathan Komp noted that while Dick's Sporting Goods (DKS) reported its own "disappointing" earnings, the company called out continued sales challenges for Under Armour (UAA), which it attributed to expanded distribution. He believes current sporting goods disruption for Under Armour is already reflected in the company's 2018 earnings guidance and also believes other mid-tier channels have continued to show strong sales performance, pointing out that Kohl's (KSS) saw Under Armour accelerate in Q2. Komp, who views the selloff on Dick's comments a "compelling buying opportunity," keeps an Outperform rating and $27 price target on Under Armour Class A shares.
UAA Under Armour
$18.20

-0.42 (-2.26%)

09/21/18
JEFF
09/21/18
NO CHANGE
Target $29
JEFF
Buy
Under Armour restructuring news 'should squash' margin doubt, says Jefferies
After the company announced an update to its restructuring plan, Jefferies analyst Randal Konik says he's impressed with Under Armour's "ability to parallel-track operational excellence alongside leading product innovation." Recent successes with the HOVR platform and Project Rock "have quieted bears" who doubted product and brand strength, and yesterday's news "should squash any doubt surrounding the positive trajectory for sustainable operating margin improvement ahead," Konik tells investors in a research note. He reiterates a Buy rating on Under Armour with a $29 price target.

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17:54
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17:54
Hot Stocks
Nvidia reports record adoption of new Turing T4 GPU »

Nvidia announced that the…

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    Nov

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GLD

SPDR Gold Trust

$113.66

-0.82 (-0.72%)

17:51
11/12/18
11/12
17:51
11/12/18
17:51
Hot Stocks
SPDR Gold Trust holdings rise to 762.00MT from 755.23MT »

This is the highest level…

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TSLA

Tesla

$331.15

-19.54 (-5.57%)

17:45
11/12/18
11/12
17:45
11/12/18
17:45
Periodicals
Tesla legal executive with regulatory experience leaving, Bloomberg says »

Amid a recent fraud…

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  • 14

    Nov

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HUYA

Huya

$18.50

-0.5 (-2.63%)

17:34
11/12/18
11/12
17:34
11/12/18
17:34
Hot Stocks
Huya reports Q3 average mobile MAUs 49.4M, up 28.2% from last year »

Q3 Average MAUs reached…

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  • 12

    Nov

VLKAY

Volkswagen

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

17:34
11/12/18
11/12
17:34
11/12/18
17:34
Periodicals
Trump close to auto tariffs in a move that may have 'massive' fallout, BI says »

According to Business…

VLKAY

Volkswagen

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$115.48

-1.83 (-1.56%)

F

Ford

$9.49

0.11 (1.17%)

HMC

Honda

$28.16

-0.34 (-1.19%)

GM

General Motors

$35.71

0.01 (0.03%)

FCAU

Fiat Chrysler

$15.78

-0.48 (-2.95%)

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    Nov

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MPVD

Mountain Province Diamonds

$1.42

-0.03 (-2.07%)

17:32
11/12/18
11/12
17:32
11/12/18
17:32
Earnings
Mountain Province Diamonds reports Q3 EPS 8c, one estimate 6c »

Reports Q3 revenue…

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  • 13

    Nov

HUYA

Huya

$18.50

-0.5 (-2.63%)

17:32
11/12/18
11/12
17:32
11/12/18
17:32
Earnings
Breaking Earnings news story on Huya »

Huya sees Q4 revenue up…

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  • 12

    Nov

YY

YY

$61.39

-3.34 (-5.16%)

17:32
11/12/18
11/12
17:32
11/12/18
17:32
Earnings
Breaking Earnings news story on YY »

YY sees Q4 revenue growtn…

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HUYA

Huya

$18.50

-0.5 (-2.63%)

17:31
11/12/18
11/12
17:31
11/12/18
17:31
Earnings
Huya reports Q3 EPS 4c, consensus 4c »

Reports Q3 revenue…

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  • 12

    Nov

YY

YY

$61.39

-3.34 (-5.16%)

17:31
11/12/18
11/12
17:31
11/12/18
17:31
Earnings
YY reports Q3 adjusted income per ADS $1.76, consensus $1.67 »

Reports Q3 revenue $597M,…

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CVX

Chevron

$117.47

-2.065 (-1.73%)

, XOM

Exxon Mobil

$79.87

-1.01 (-1.25%)

17:28
11/12/18
11/12
17:28
11/12/18
17:28
Periodicals
Breaking Periodicals news story on Chevron, Exxon Mobil »

Exxon Mobil and Chevron…

CVX

Chevron

$117.47

-2.065 (-1.73%)

XOM

Exxon Mobil

$79.87

-1.01 (-1.25%)

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  • 12

    Nov

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    Nov

ESS

Essex Property Trust

$254.54

0.59 (0.23%)

17:26
11/12/18
11/12
17:26
11/12/18
17:26
Hot Stocks
Essex Property Trust sees no significant damage to CA portfolio from fires »

Essex Property Trust…

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ROAN

Roan Resources

$15.90

(0.00%)

17:25
11/12/18
11/12
17:25
11/12/18
17:25
Hot Stocks
Roan Resources sees Q4 production 52-56 MBoe/d »

The Company is projecting…

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ROAN

Roan Resources

$15.90

(0.00%)

17:24
11/12/18
11/12
17:24
11/12/18
17:24
Hot Stocks
Roan Resources reports Q3 total production up 30% to 46.5 MBoe/d »

Liquids production…

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ROAN

Roan Resources

$15.90

(0.00%)

17:23
11/12/18
11/12
17:23
11/12/18
17:23
Earnings
Roan Resources reports Q3 adjusted EPS 21c, consensus 24c »

Reports Q3 revenue…

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INTC

Intel

$46.66

-1.44 (-2.99%)

17:19
11/12/18
11/12
17:19
11/12/18
17:19
Hot Stocks
Intel accelerates launch of multimode modem to support 5G rollouts »

Intel announced the Intel…

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  • 12

    Nov

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KRNT

Kornit Digital

$19.15

-0.88 (-4.39%)

17:18
11/12/18
11/12
17:18
11/12/18
17:18
Earnings
Kornit Digital sees Q4 revenue $37M-$39M, consensus $38.09M »

Sees Q4 operating income…

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  • 12

    Nov

UGI

UGI Corporation

$56.47

0.45 (0.80%)

17:18
11/12/18
11/12
17:18
11/12/18
17:18
Earnings
Breaking Earnings news story on UGI Corporation »

UGI Corporation sees FY19…

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  • 13

    Nov

APU

AmeriGas

$36.63

-0.285 (-0.77%)

17:17
11/12/18
11/12
17:17
11/12/18
17:17
Hot Stocks
Breaking Hot Stocks news story on AmeriGas »

AmeriGas sees FY19…

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  • 13

    Nov

UGI

UGI Corporation

$56.47

0.45 (0.80%)

17:17
11/12/18
11/12
17:17
11/12/18
17:17
Earnings
UGI Corporation reports Q4 EPS 14c, consensus (4c) »

Reports Q4 revenue…

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  • 13

    Nov

APU

AmeriGas

$36.63

-0.285 (-0.77%)

17:17
11/12/18
11/12
17:17
11/12/18
17:17
Earnings
AmeriGas reports Q4 EPS (46c) vs (32c) last year »

Reports Q4 revenue…

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  • 13

    Nov

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