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AET

Acquired by CVS

$200.22

-1.27 (-0.63%)

, CVS

CVS Health

$74.02

-0.51 (-0.68%)

07:19
10/22/18
10/22
07:19
10/22/18
07:19

Aetna price target raised to $207 from $202 at Credit Suisse

Credit Suisse analyst A.J. Rice raised his price target for Aetna (AET) to $207 from $202, while reiterating a Neutral rating on the shares. The analyst noted that the DOJ preliminary approved CVS' (CVS) acquisition of Aetna after the latter reached an agreement to sell its Medicare Part D drug plan business to WellCare Health Plans. Connecticut approved the CVS-AET deal October 17, and New York is expected to reach a decision after October 25, Rice adds. At this point, the analyst feels deal approval has a high probability of occurring, albeit the timing could be slightly later than CVS' outlook of early Q4 closing. Overall, Rice is putting a 90%-95% probability on the deal closure.

AET

Acquired by CVS

$200.22

-1.27 (-0.63%)

CVS

CVS Health

$74.02

-0.51 (-0.68%)

AET Acquired by CVS
$200.22

-1.27 (-0.63%)

08/27/18
RBCM
08/27/18
NO CHANGE
Target $94
RBCM
Outperform
Express Scripts price target raised to $94 from $90 at RBC Capital
RBC Capital analyst George Hills raised his price target on Express Scripts (ESRX) to $94 and kept his Outperform rating, citing the shareholders' "blessing" of the merger with Cigna (CI). The analyst notes that even though the regulators are yet to rule on the deal, he expects the merger to close by the end of the year and has a positive view of the "vertical consolidation thesis" for the company. Hill adds that the chance of a Department of Justice challenge to the merger is small in light of the seemingly clear path of the CVS (CVS) - Aetna (AET) merger, but if regulators do seek concessions, he expects the necessary divestitures to be small.
09/10/18
SDLR
09/10/18
INITIATION
Target $60
SDLR
Buy
Hartford Financial initiated with a Buy at Sandler ONeill
Sandler ONeill analyst Paul Newsome initiated Hartford Financial (HIG) with a Buy rating and $60 price target, citing his view that its valuation is "relatively attractive" and that the biggest near-term risk for investors has been resolved by the purchase of The Navigators Group (NAVG), which he sees having several benefits. Newsome also believes the recent acquisition of Aetna's (AET) benefits business will be a relatively strong earnings growth opportunity, he tells investors.
09/17/18
RBCM
09/17/18
NO CHANGE
Target $101
RBCM
Outperform
CVS Health price target raised to $101 from $90 at RBC Capital
RBC Capital analyst George Hill raised his price target on CVS Health (CVS) to $101 and kept his Outperform rating, citing the increased visibility of the company's merger with Aetna (AET) after its recent comments that it expects the deal to close in early Q4. The analyst also points to "de-risked" CVS investment thesis as it pertains to pharmacy benefit managers rebates and the much higher relative multiples for managed care companies, even though he warns that investors may still be spooked by any potential steps that the White House takes to drive prescription drug prices lower. Hill notes however that the latest government funding bill pulled the text that required drug companies to disclose prices in their ads, implying that the political will to change status quo may be limited.
10/02/18
LEER
10/02/18
NO CHANGE
LEER
Outperform
Intersect ENT's Sinuva reimbursement policies 'steps in right direction,' says Leerink
Leerink analyst Richard Newitter reiterates an Outperform rating on Intersect ENT following some positive progress on the reimbursement front for Sinuva in the last several weeks, namely Aetna (AET) covering Sinuva and Anthem (ATNM) adding it to its formulary this past week. The analyst believes these positive coverage policies represent steps in the right direction to a potentially quicker and more consistent reimbursement process using the specialty pharmacy channel, an area where the company has faced some challenges.
CVS CVS Health
$74.02

-0.51 (-0.68%)

08/23/18
08/23/18
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. ROSENBLATT BOOSTS AMD PRICE TARGET TO STREET HIGH: Rosenblatt analyst Hans Mosesmann raised his price target for AMD (AMD) shares to $30 from $27. Mosesmann's new price target represents the high among Wall Street sell-side analysts. Following the meetings, Mosesmann has renewed conviction in AMD's multi-year double digit growth profile. Further, he's impressed by the analysis investors are doing in the name after years of disregard. AMD is up 4.1% in late morning trading. CANTOR CUTS AETNA TO NEUTRAL: Cantor Fitzgerald analyst Steven Halper downgraded Aetna (AET) to Neutral from Overweight with a price target of $202. The stock now trades at just a 4.6% discount to the implied CVS Health (CVS) acquisition value of about $207 per share, Halper said. He believes the narrowed deal spread reflects an increased likelihood of regulatory approval. Halper cites limited potential upside for his downgrade of Aetna to Neutral. NIELSEN UPGRADED TO NEUTRAL AT GOLDMAN: Goldman Sachs analyst George Tong upgraded Nielsen Holdings (NLSN) to Neutral and raised his price target for the shares to $25 from $20. With activist Elliott Management pushing for a sale and increased deal activity in the Information Services sector, Tong sees increased likelihood of Nielsen being involved in a transaction. His upgrade to Neutral and price target increase come after the analyst incorporated a potential takeover into his model. Nielsen is up 3.3% in late morning trading. IMPERIAL SEES SUBSCRIBER UPSIDE FOR NETFLIX: Imperial Capital analyst David Miller believes Netflix's (NFLX) experiment with ending billing through Apple's (AAPL) app store in 33 countries outside the U.S. likely implies upside to its Q3 international subscriber guidance. The analyst said he has a tough time believing that Netflix would "experiment" with billing infrastructure mid-quarter if it did not believe that its international subscriber levels were trending ahead of guidance. As such, Miller raised his Q3 international subscriber estimate to 4.46M from 4.35M. He kept an Outperform rating on Netflix with a $494 price target. TARGET GETS UPGRADE AND DOWNGRADE: Target (TGT) was upgraded to Outperform from Market Perform at Telsey Advisory, and downgraded to Peer Perform from Outperform at Wolfe Research.
09/20/18
LEER
09/20/18
NO CHANGE
Target $250
LEER
Outperform
Cigna price target raised to $250 from $235 at Leerink
Leerink analyst Ana Gupte raised her price target on Outperform-rated Cigna (CI) to $250 from $235 following meetings with a panel of PBM and Specialty Rx specialists, which increased her bullishness on Cigna and Market Perform-rated Express Scripts (ESRX). In a research note to investors, Gupte says she also came away with raised confidence on the achiveability of the $4B annual drug cost savings from the Express Scripts switch by Anthem (ANTM) to IngenioRx in partnership with CVS (CVS). She adds that smaller independent PBMs still have niche opportunities with smaller regional third-party health plans, noting that Magellan Health (MGLN) is well positioned in this market, though loss of substantial business in Florida Seriously Mentally Ill is a headwind in Rx as well.

TODAY'S FREE FLY STORIES

SNAP

Snap

$10.63

-0.31 (-2.83%)

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ZEAL

Zealand Pharma

$15.60

(0.00%)

06:57
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SMAR

Smartsheet

$43.51

-0.16 (-0.37%)

06:57
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TXRH

Texas Roadhouse

$60.46

-0.39 (-0.64%)

06:56
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06:56
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06:56
Upgrade
Texas Roadhouse rating change  »

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BAYRY

Bayer

$0.00

(0.00%)

, AZN

AstraZeneca

$42.87

0.29 (0.68%)

06:54
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03/20
06:54
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06:54
Recommendations
Bayer, AstraZeneca, Sanofi, Novartis, Merck analyst commentary  »

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BAYRY

Bayer

$0.00

(0.00%)

AZN

AstraZeneca

$42.87

0.29 (0.68%)

SNY

Sanofi

$45.18

0.27 (0.60%)

NVS

Novartis

$92.99

-0.205 (-0.22%)

MRK

Merck

$81.93

0.59 (0.73%)

03/08/13
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BA

Boeing

$373.87

1.77 (0.48%)

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Periodicals
Off-duty pilot saved Lion Air 737 day before fatal crash, Bloomberg reports »

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CTXS

Citrix

$101.31

-0.24 (-0.24%)

06:51
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06:51
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06:51
Conference/Events
Citrix to host CEMEX Day 2019 »

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IRM

Iron Mountain

$34.51

-0.29 (-0.83%)

06:51
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NVDA

Nvidia

$175.77

6.86 (4.06%)

06:49
03/20/19
03/20
06:49
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06:49
Recommendations
Nvidia analyst commentary  »

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AKBA

Akebia

$8.12

-0.07 (-0.85%)

06:48
03/20/19
03/20
06:48
03/20/19
06:48
Initiation
Akebia initiated  »

Citi starts Akebia…

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JMP

JMP Group

$3.79

-0.07 (-1.81%)

06:48
03/20/19
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Hot Stocks
JMP Group sells majority interest in JMP Credit Advisors »

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PFE

Pfizer

$42.32

0.51 (1.22%)

06:47
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Pfizer secures exclusive option to acquire Vivet Therapeutics »

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FDX

FedEx

$181.50

-0.92 (-0.50%)

06:46
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06:46
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FedEx analyst commentary  »

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ENV

Envestnet

$66.69

0.29 (0.44%)

06:45
03/20/19
03/20
06:45
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06:45
Downgrade
Envestnet rating change  »

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06:45
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General news
Breaking General news story  »

Week of 3/15 MBA Mortgage…

ZTS

Zoetis

$98.72

0.95 (0.97%)

06:43
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Zoetis initiated  »

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TYL

Tyler Technologies

$204.57

0.855 (0.42%)

06:43
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Conference/Events
Tyler Technologies management to meet with KeyBanc »

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MO

Altria Group

$56.01

-1.295 (-2.26%)

06:42
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FDA commissioner calls meeting with Altria, Juul 'difficult', CNBC reports »

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TDC

Teradata

$48.33

0.58 (1.21%)

06:42
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Downgrade
Teradata rating change  »

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  • 30

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STL

Sterling Bancorp

$19.86

-0.39 (-1.93%)

06:40
03/20/19
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06:40
Conference/Events
Sterling Bancorp management to meet with Piper Jaffray »

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ELAN

Elanco

$33.00

1.36 (4.30%)

, ZTS

Zoetis

$98.72

0.95 (0.97%)

06:39
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03/20
06:39
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06:39
Initiation
Elanco, Zoetis initiated  »

Elanco resumed with a…

ELAN

Elanco

$33.00

1.36 (4.30%)

ZTS

Zoetis

$98.72

0.95 (0.97%)

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  • 09

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ROK

Rockwell Automation

$178.71

-2.02 (-1.12%)

06:38
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06:38
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Rockwell Automation rating change  »

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SIBN

SI-Bone

$19.00

-0.01 (-0.05%)

06:37
03/20/19
03/20
06:37
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06:37
Conference/Events
SI-Bone management to meet with Morgan Stanley »

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  • 20

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NOK

Nokia

$6.35

0.02 (0.32%)

06:36
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06:36
Downgrade
Nokia rating change  »

Nokia downgraded to Hold…

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  • 20

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VOD

Vodafone

$19.22

0.13 (0.68%)

06:36
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06:36
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Vodafone rating change  »

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