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AMTD

TD Ameritrade

$50.18

-0.31 (-0.61%)

, CDNS

Cadence Design

$40.70

0.57 (1.42%)

13:05
10/22/18
10/22
13:05
10/22/18
13:05

Notable companies reporting after market close

Notable companies reporting after the market close, with earnings consensus, include TD Ameritrade (AMTD), consensus 88c... Cadence Design Systems (CDNS), consensus 41c... Zions Bancorp (ZION), consensus 96c... Brown & Brown (BRO), consensus 34c... SLM Corp (SLM), consensus 24c.

AMTD

TD Ameritrade

$50.18

-0.31 (-0.61%)

CDNS

Cadence Design

$40.70

0.57 (1.42%)

ZION

Zions Bancorp

$45.81

-1.16 (-2.47%)

BRO

Brown & Brown

$29.31

0.46 (1.59%)

SLM

Sallie Mae

$10.57

-0.01 (-0.09%)

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    Mar

AMTD TD Ameritrade
$50.18

-0.31 (-0.61%)

09/19/18
JEFF
09/19/18
UPGRADE
Target $65
JEFF
Buy
Jefferies upgrades E-Trade to Buy on valuation, possible takeout upside
Jefferies analyst Daniel Fannon upgraded E-Trade (ETFC) to Buy from Hold with an unchanged price target of $65. The stock's current valuation is attractive for the core business while the financial and strategic benefits as a takeout candidate remain intact, Fannon tells investors in a research note. In a takeout scenario, Fannon thinks E-Trade could be worth as much as low $70s per share. He views TD Ameritrade (AMTD) and Charles Schwab as the most likely buyers given the expense overlaps. The analyst believes increasing competition across the Discount Brokers industry will continue to favor the firms with greater scale and revenue diversity. His favorite ideas in the group are E-Trade and Charles Schwab.
09/25/18
WOLF
09/25/18
INITIATION
Target $59
WOLF
Underperform
TD Ameritrade initiated with an Underperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated TD Ameritrade with an Underperform and $59 price target.
10/04/18
DBAB
10/04/18
NO CHANGE
DBAB
TD Ameritrade, E-Trade oversold into Q3 reports, says Deutsche Bank
Deutsche Bank analyst Brian Bedell sees shares of both TD Ameritrade (AMTD) and E-Trade (ETFC) as oversold heading into the Q3 reporting season. The setup is looking even better for e-brokers into earnings, Bedell tells investors in a research note. With e-broker stocks down a median 9% over the past month, the analyst now "heavily" favors the group within his coverage this earnings season, especially TD Ameritrade and E-Trade. He believes the market is no longer incorporating a meaningful chance of a merger scenario between the two companies. The analyst thinks both stocks can rally on "pure fundamentals."
10/19/18
SBSH
10/19/18
NO CHANGE
SBSH
E-Trade news removes bull case for Ameritrade, Schwab, says Citi
E-Trade (ETFC) last night announced new five-year financial targets and that it will pursue an independent course given higher internal estimates of intrinsic value versus a potential sale, Citi analyst William Katz tells investors in a research note. While the sector has recently sold off, the absence of a sizeable transaction "further removes a bull case thesis" for shares of both TD Ameritrade (AMTD) and Charles Schwab (SCHW), says Katz. Further, he believes the "inaction" also likely leaves open the group to more online pricing pressures and "keeps alive commodization risks." He does not rate E-Trade, has a Neutral rating on Ameritrade and Sell rating on Schwab.
CDNS Cadence Design
$40.70

0.57 (1.42%)

04/24/18
NEED
04/24/18
UPGRADE
NEED
Buy
Cadence Design upgraded to Buy from Hold at Needham
04/24/18
NEED
04/24/18
UPGRADE
Target $47
NEED
Buy
Cadence Design upgraded to Buy at Needham after Q1 earnings beat
As noted earlier, Needham analyst Richard Valera upgraded Cadence Design to Buy from Hold with a $47 price target after yesterday's "strong beat-and-raise" quarter that produced a 10% rise in the stock price afterhours. Valera notes that despite the spike, shares are still 10% down from recent highs, even though FY18 revenue growth is now estimated at 8% vs. 7% prior view. The analyst recommends the stock based on its "still-reasonable valuation" with underpinnings of "strong design activity in verticals such as machine learning, auto, mobile and Internet of Things", as well as the likelihood of continued share gains in digital, and a reinvigorated Verification business.
07/24/18
JPMS
07/24/18
NO CHANGE
Target $49
JPMS
Underweight
Cadence Design price target raised to $49 from $42 at JPMorgan
JPMorgan analyst Sterling Auty views Cadence Design Systems' Q2 results as "very solid" with the intellectual property business the standout performer once again. The analyst raised his price target for the shares to $49 from $42 and keeps an Underweight rating on the name. The big news from the quarter is the announcement that Cadence is pushing forward with a new cloud initiative to offer its products on a hosted basis within AWS, Azure and GCP, Auty tells investors in a research note. He believes, however, that the exact growth and profit ramifications will not be identifiable until the company finalizes its pricing model with customers across all solutions.
07/24/18
DADA
07/24/18
NO CHANGE
Target $52
DADA
Buy
Cadence Design price target raised to $52 from $47 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on Cadence Design to $52 and kept his Buy rating after is "solid beat and raise" quarter, along with boosting its 2018 growth rate projection above that of 2017. The analyst notes the company is a "key beneficiary" of increased design activity in the emerging data driven economy, lifted by the technology waves of AI, big data, 5G, automotive, internet of things, etc. Diffely further states that Cadence Design's Cloud product portfolio gives it a first mover advantage with signs of solid customer adoption, while its execution and cash generation are also improving.
ZION Zions Bancorp
$45.81

-1.16 (-2.47%)

07/10/18
RAJA
07/10/18
UPGRADE
RAJA
Strong Buy
Zions Bancorp upgraded to Strong Buy from Outperform at Raymond James
05/14/18
WEDB
05/14/18
INITIATION
WEDB
Neutral
Zions Bancorp initiated with a Neutral at Wedbush
09/07/18
UBSW
09/07/18
DOWNGRADE
UBSW
Neutral
Zions Bancorp downgraded to Neutral from Buy at UBS
UBS analyst Brock Vandervliet downgraded Zions Bancorp to Neutral.
09/07/18
UBSW
09/07/18
DOWNGRADE
Target $56
UBSW
Neutral
UBS downgrades Zions Bancorp to Neutral with $56 price target
UBS analyst Brock Vandervliet downgraded Zions Bancorp to Neutral from Buy and lowered his price target for the shares to $56 from $67. The analyst had expected mid-single digit loan growth would build to the 6%-8% range after years of drag from energy and commercial real estate loan run-off. However, he now forecasts a 4%-5% level. Vandervliet also expected that raising of the systemically important financial institution threshold would re-focus management on generating higher growth and better efficiency. Recent commentary, however, indicates no change in posture, the analyst contends. He also finds Zions' recent capital announcement "underwhelming" saying it is designed to preserve board flexibility as opposed to making a commitment to maximize return.
BRO Brown & Brown
$29.31

0.46 (1.59%)

12/06/17
12/06/17
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. AIG (AIG) upgraded to Hold from Sell at Deutsche Bank with analyst Joshua Shanker sayign the stock "might have found a bottom" after dropping 8% since the third quarter results on November 2. Brown & Brown (BRO) upgraded to Buy from Hold at SunTrust with analyst Mark Hughes saying the company stands to benefit from commission gains in the Florida market, contribution from the company's sales incentive program, reduced investments costs, and the anticipated tax reform impact which could add up to 55c to the fiscal 2019 earnings per share target of $2.25. 3. L3 Technologies (LLL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Matt McConnell citing the company's investor day presentation. McConnell says the event highlighted the company's position combining the "best-in-defense runway for operating margin improvement, near-term organic growth acceleration, and bolt-on M&A potential". 4. Carnival (CCL) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Jamie Rollo stating that the firm's survey of U.S. travel agents suggested strong demand for cruises in November, which he notes is usually a slow month for bookings. 5. Express Scripts (ESRX) upgraded to Market Perform from Underperform at Bernstein with the firm citing improved upside risks from potential policy and competitor actions and 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.
06/18/18
GSCO
06/18/18
INITIATION
Target $31
GSCO
Neutral
Brown & Brown initiated with a Neutral on valuation at Goldman Sachs
Goldman Sachs analyst Yaron Knar initiated Brown & Brown with a Neutral and $31price target citing valuation.
08/07/18
FBCO
08/07/18
INITIATION
Target $31
FBCO
Neutral
Brown & Brown initiated with a Neutral at Credit Suisse
Credit Suisse analyst Michael Zaremski started Brown & Brown with a Neutral rating and $31 price target. Given the company's small commercial focus relative to global peers, he believes demand for consulting services and an incremental investment income tailwind will apply to the insurance brokerage space but not to Brown & Brown, making him relatively less bullish on its near-term prospects, especially given year to date outperformance partially attributable to trade war fears.
09/20/18
RHCO
09/20/18
NO CHANGE
Target $33
RHCO
Buy
Brown & Brown to continue organic growth trends, says SunTrust
SunTrust analyst Mark Hughes kept his Buy rating and $33 price target on Brown & Brown after its "first ever Investor Day" in New York, saying the management has expressed its intentions to drive organic growth with "new product initiatives and technology enhancements". The analyst also expects the company to continue executing its M&A strategy that is funded by cash flows, maintaining its "conservative leverage". Hughes further points to the company's wholesale brokerage business outperforming last year results and its National Programs segment outpacing the industry.
SLM Sallie Mae
$10.57

-0.01 (-0.09%)

07/06/18
WELS
07/06/18
NO CHANGE
Target $14
WELS
Outperform
Sallie Mae shares offer 'attractive value' at current levels, says Wells Fargo
Wells Fargo analyst Michael Kaye calls shares of Sallie Mae an "attractive value" trading at 10 times his 2019 earnings estimate. ValueAct's recent investment underscores that the shares are undervalued, Kaye tells investors in a research note. With investors concerned about where we are in the credit cycle, Sallie Mae's high credit quality portfolio stands favorably compared to other consumer finance companies, the analyst contends. He believes the company is poised to have a "strong" peak origination season which should serve as a catalyst for the shares. Kaye keeps an Outperform rating on Sallie Mae with a $14 price target.
07/09/18
SPHN
07/09/18
INITIATION
Target $15
SPHN
Overweight
Sallie Mae initiated with an Overweight at Stephens
Stephens analyst Vincent Caintic initiated Sallie Mae with an Overweight rating and $15 price target. He is forecasting 23% year-over-year EPS growth in 2019 and 10% growth for 2020, adding that these estimates may be conservative given he has not built in much cross-sell and he models no capital return through 2020.Target $15.
09/14/18
WEDB
09/14/18
NO CHANGE
WEDB
Wedbush adds D.R. Horton, GrubHub, Sallie Mae, Yelp to Best Ideas List
Wedbush analysts led by Jesse Bigelow added D.R. Horton (DHI), GrubHub (GRUB), Sallie Mae (SLM) and Yelp (YELP) to their firm's Best Ideas List. On D.R. Horton, the analysts note the company has expanded its product lines into the luxury Emerald line, the entry-level Express brand, and active-adult brand Freedom Homes, while maintaining a core focus on entry-level to move-up housing. On GrubHub, they see a $13B company dominating a $250B market "that is barely penetrated today." On Sallie Mae, the analysts believe the company will continue to build market share in the undergraduate student loan arena. And on Yelp, the analysts believe the business model changes being implemented will help accelerate growth, which is not reflected in investor sentiment or the stock's valuation.
04/04/18
WELS
04/04/18
INITIATION
Target $13.5
WELS
Outperform
Sallie Mae initiated with an Outperform at Wells Fargo
Wells Fargo analyst Michael Kaye started Sallie Mae with an Outperform rating and $13.50 price target. The analyst views the valuation as attractive with the shares trading at 9.5 times his 2019 earnings estimate. This is a "significant" discount to the 20%-plus estimated earnings growth rate from 2017 to 2020, Kaye tells investors in a research note.

TODAY'S FREE FLY STORIES

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Flir Systems

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RIO

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1.04 (1.86%)

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Cree

$56.77

-0.14 (-0.25%)

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  • 01

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ON

ON Semiconductor

$21.95

-0.23 (-1.04%)

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GOOG

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$1,180.85

-4.41 (-0.37%)

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Alphabet Class A

$1,184.84

-6.94 (-0.58%)

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Periodicals
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Alphabet

$1,180.85

-4.41 (-0.37%)

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Alphabet Class A

$1,184.84

-6.94 (-0.58%)

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General news
U.S. corporate bond update: a couple of issuers are jumping in »

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CCI

Crown Castle

$124.05

-1.03 (-0.82%)

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General news
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FB

Facebook

$159.31

-6.68 (-4.02%)

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  • 27

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

, SPX

S&P 500

$0.00

(0.00%)

13:30
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Periodicals
U.K. speaker says parliament won't vote again on Brexit deal, WSJ reports »

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$281.92

0.61 (0.22%)

03/08/13
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GNL

Global Net Lease

$18.38

-0.1 (-0.54%)

13:29
03/18/19
03/18
13:29
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Conference/Events
Global Net Lease management to meet with JMP Securities »

Meeting to be held in…

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  • 25

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NVRO

Nevro

$44.31

0.56 (1.28%)

13:27
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Conference/Events
Nevro management to meet with JMP Securities »

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  • 20

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NVRO

Nevro

$44.15

0.4 (0.91%)

13:27
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Conference/Events
Nevro management to meet with SVB Leerink »

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  • 20

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APYX

Apyx Medical

$7.93

0.005 (0.06%)

13:25
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Conference/Events
Apyx Medical management to meet with JMP Securities »

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  • 21

    Mar

T

AT&T

$30.77

0.09 (0.29%)

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  • 20

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CXP

Columbia Property

$21.99

-0.13 (-0.59%)

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  • 20

    Mar

BSX

Boston Scientific

$37.77

-2.38 (-5.93%)

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  • 18

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MIK

Michaels

$11.72

0.04 (0.34%)

, DSW

DSW

$25.05

-0.34 (-1.34%)

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Michaels

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DSW

DSW

$25.05

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HDS

HD Supply

$42.88

-0.12 (-0.28%)

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  • 19

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REGN

Regeneron

$408.15

-6.03 (-1.46%)

, DERM

Dermira

$12.46

5.63 (82.43%)

13:17
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Dermira rises, Regeneron slips on eczema treatment study results »

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REGN

Regeneron

$408.15

-6.03 (-1.46%)

DERM

Dermira

$12.46

5.63 (82.43%)

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  • 28

    Apr

  • 13

    May

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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03/18
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NYSE market internals summary »

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HBCP

Home Bancorp

$36.50

0.59 (1.64%)

13:14
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ELAN

Elanco

$31.38

0.69 (2.25%)

13:14
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Elanco tells Bloomberg CEO not planing to sell shares at lockup »

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  • 09

    May

APEN

Apollo Endosurgery

$3.29

-0.06 (-1.79%)

13:13
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  • 18

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    May

QQQ

Invesco QQQ Trust

$178.07

0.1542 (0.09%)

13:10
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50K Invesco QQQ Jun 188 - 192 call spreads sold at 95c »

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