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ALLY

Ally Financial

$25.01

0.56 (2.29%)

, BAC

Bank of America

$26.59

0.4 (1.53%)

04:55
10/26/18
10/26
04:55
10/26/18
04:55

Royal Media Group to hold a summit

Auto Finance Summit 2018 will be held in Las Vegas on October 24-26.

ALLY

Ally Financial

$25.01

0.56 (2.29%)

BAC

Bank of America

$26.59

0.4 (1.53%)

BR

Broadridge

$116.68

4.23 (3.76%)

CMA

Comerica

$79.69

1.41 (1.80%)

COF

Capital One

$88.30

2.44 (2.84%)

FISV

Fiserv

$78.88

1.73 (2.24%)

FITB

Fifth Third

$25.88

0.91 (3.64%)

HMC

Honda

$26.64

0.58 (2.23%)

HYMTF

Hyundai Motor

$0.00

(0.00%)

INDB

Independent Bank

$75.90

1.97 (2.66%)

INFO

IHS Markit

$50.88

0.87 (1.74%)

JMP

JMP Group

$4.83

-0.25 (-4.92%)

LC

LendingClub

$3.24

0.06 (1.89%)

NCI

Navigant Consulting

$21.23

0.27 (1.29%)

NSANY

Nissan

$0.00

(0.00%)

PEGA

Pegasystems

$52.85

1.69 (3.30%)

STI

SunTrust

$60.35

1.53 (2.60%)

TM

Toyota

$116.70

2.14 (1.87%)

TREE

LendingTree

$212.00

11.41 (5.69%)

TRI

Thomson Reuters

$46.45

0.07 (0.15%)

TRU

TransUnion

$63.89

(0.00%)

V

Visa

$140.56

6.56 (4.90%)

VLY

Valley National

$9.59

-0.01 (-0.10%)

WTKWY

Wolters Kluwer

$0.00

(0.00%)

EXPGY

Experian

$0.00

(0.00%)

WU

Western Union

$17.93

0.26 (1.47%)

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ALLY Ally Financial
$25.01

0.56 (2.29%)

07/30/18
BOFA
07/30/18
UPGRADE
Target $35
BOFA
Buy
Ally Financial upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Kenneth Bruce upgraded Ally Financial to Buy from Neutral and raised its price target to $36 from $33. Bruce said Ally continues to execute and sees earnings upside from strong business momentum and earnings growth and end is less concerned about cyclical pressures given favorable trends in auto sales, credit and used vehicle pricing.
06/19/18
06/19/18
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. Ollie's Bargain Outlet (OLLI) initiated with a Hold at Loop Capital. 2. B&G Foods (BGS) assumed with a Neutral at Piper Jaffray. 3. Iterum Therapeutics (ITRM) initiated with an Outperform at RBC Capital and Leerink while being initiated with a Buy at Needham and Guggenheim. 4. Ingersoll-Rand (IR) initiated with an Outperform at Cowen. 5. Ally Financial (ALLY) initiated with a Neutral at Nomura Instinet. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/18
JANY
06/29/18
UPGRADE
JANY
Buy
Ally Financial upgraded to Buy from Neutral at Janney Montgomery Scott
06/29/18
06/29/18
UPGRADE

Buy
Janney upgrades Ally Financial, Santander Consumer to Buy on CCAR results
As previously reported, Janney Montgomery Scott analyst John Rowan upgraded both Santander Consumer (SC) and Ally Financial (ALLY), each to Buy from Neutral, after the Federal Reserve released the results of its Comprehensive Capital Analysis and Review, or CCAR, tests and did not object to the capital plans for either. The capital actions approved for Santander Consumer do not alleviate its excess capital, but they are "significant," Rowan tells investor. Meanwhile, Ally's share repurchase plan is 32% higher than last year, noted Rowan, who raised his EPS estimates for both companies. He has a $36 fair value estimate on Ally shares and a $24 fair value estimate for Santander Consumer.
BAC Bank of America
$26.59

0.4 (1.53%)

09/25/18
WOLF
09/25/18
INITIATION
Target $40
WOLF
Outperform
Bank of America initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Bank of America with an Outperform and $40 price target.
09/19/18
OPCO
09/19/18
NO CHANGE
OPCO
Outperform
U.S. banks 'in very good shape,' says Oppenheimer, favorites include BofA, Citi
Oppenheimer analyst Chris Kotowski tells investors in a research note that the U.S. banking group is on solid footing with balance sheets less risky than at any time over the last 33 years the firm covered the group and says his favorite bank stocks are Outperform-rated Bank of America (BAC), Citi (C), CIT (CIT) and Goldman Sachs (GS). However, Kotowski notes that banks are trading at an average relative P/E of just ~66% relative to the S&P 500 and returning to a historical avg valuation of 73%-80% range would imply over a thousand basis points of outperformance by the group. In his view, the U.S. banks are, on the whole, in "very good" shape.
07/17/18
BARD
07/17/18
NO CHANGE
Target $30
BARD
Neutral
Baird would be buyers of Bank of America on weakness
Baird analyst David George said he would remain a buyer of Bank of America shares on any weakness, stating that its operating leverage was impressive in Q2 and should continue along with solid execution. George maintained his Neutral rating and $30 price target on Bank of America shares.
07/09/18
GSCO
07/09/18
NO CHANGE
GSCO
Bank of America, Morgan Stanley top ideas into Q2 earnings season, says Goldman Sachs
Goldman Sachs analyst Richard Ramsden expects Bank of America (BAC) and Morgan Stanley (MS) to beat consensus estimates in Q2. The analyst argues that both appear best positioned, while he sees risk for U.S. Bancorp (USB) and JPMorgan (JPM). Ramsden highlights Bank of America given the material valuation dislocation that looks to support the stock over time. Additionally, the analyst expects an expense and NII beat for Morgan Stanley.
BR Broadridge
$116.68

4.23 (3.76%)

07/17/18
WOLF
07/17/18
INITIATION
Target $128
WOLF
Peer Perform
Broadridge initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Darrin Peller started Broadridge with a Peer Perform rating and $128 price target.Target $128.
08/29/18
08/29/18
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. Weight Watchers (WTW) initiated with an Outperform at Oppenheimer. 2. Systemax (SYX) initiated with a Market Perform at William Blair. 3. Broadridge (BR) initiated with a Buy at SunTrust. 4. Mercury General (MCY) initiated with an Outperform at Keefe Bruyette. 5. Immune Design (IMDZ) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/09/17
DADA
11/09/17
NO CHANGE
Target $86
DADA
Neutral
Broadridge price target raised to $86 from $80 at DA Davidson
DA Davidson analyst Peter Heckmann raised his price target on Broadridge to $86 and kept his Neutral rating following Q1 results. Heckmann estimates the company's organic revenue growth around 2%-3%, adding that while as much as 80% of its sales are "contractually recurring and fairly predictable", earnings variations are possible due to high-margin equity trade processing and event-driven proxy revenue streams.
08/29/18
RHCO
08/29/18
INITIATION
Target $150
RHCO
Buy
Broadridge initiated with a Buy at SunTrust
SunTrust analyst Oscar Turner initiated Broadridge with a Buy rating and a price target of $150, saying the company will continue to gain "meaningful customer wallet share" and generate long-term mid-single-digit organic revenue growth. Turner adds that the operating leverage of Broadridge suggests "at least" high-single-digit EPS expansion that should be consistent through its current cycle. The analyst believes that the company's "enduring" competitive advantages are derived from " regulatory-driven demand, scale, and few substitute solutions".
CMA Comerica
$79.69

1.41 (1.80%)

10/17/18
RHCO
10/17/18
NO CHANGE
Target $91
RHCO
Hold
Comerica price target lowered to $91 from $98 at SunTrust
SunTrust analyst Jennifer Demba lowered her price target on Comerica to $91 and kept her Hold rating after its Q3 results, also lowering her FY19 EPS view to $7.92 from $8.03. The analyst expects lower spread income for Comerica, even though she sees benefits coming from rising interest rates and "rationalizing capital levels" that should produce "outsized" capital returns over the next few quarters.
10/17/18
RBCM
10/17/18
NO CHANGE
Target $100
RBCM
Outperform
Comerica price target lowered to $100 from $109 at RBC Capital
RBC Capital analyst Jon Arfstrom lowered his price target on Comerica to $100 to reflect the "change in peer group multiples", even as he raises his FY18 EPS view to $7.22 from $7.07 after its Q3 earnings beat. The analyst also keeps his Outperform rating on the shares, saying that the latest quarter demonstrated "consistent trends" with margins, buybacks, and strong asset quality driving higher earnings.
09/26/18
GSCO
09/26/18
UPGRADE
Target $196
GSCO
Buy
Goldman says rate hikes halfway through, upgrades M&T Bank to Buy
Goldman Sachs analyst Ryan Nash says his firm's economist is calling for six more rate hikes, two in the second half of 2018 and four more through the end of 2020. With six rate hikes in the books, Goldman believes we are half way through the rate rising cycle, Nash tells investors in a research note. The analyst believes some banks will see upside to revenue growth from rates moving higher. Comerica (CMA), Regions Financial (RF), SunTrust (STI), Citizens Financial (CFG) and KeyCorp (KEY) remain top picks for Nash. He also upgraded M&T Bank (MTB) to Buy from Neutral with 15% upside to his $196 price target. The analyst believes M&T will outperform as the benefits of higher rates exceed market expectations.
09/18/18
09/18/18
DOWNGRADE

Equal Weight
Morgan Stanley downgrades BankUnited to Equal Weight on midcap bank concerns
As previously reported, Morgan Stanley analyst Ken Zerbe downgraded BankUnited to Equal Weight from Overweight, stating that recent commentary from other midcap banks has been incrementally more negative. Five midcap banks - Associated Banc-Corp (ASB), Comerica (CMA), KeyCorp (KEY), M&T Bank (MTB) and Webster Financial (WBS) - have recently guided for loan growth below expectations and several others flagged headwinds to growth, Zerbe tells investors. The primary headwind is weaker CRE loan growth as non-bank lenders remain highly aggressive with both price and terms, the analyst added. BankUnited's CRE portfolio, at 43% of total loans versus peers at 27%, could be at greater risk of runoff, said Zerbe. He also reduced his expectations at 21 of 28 midcap banks he covers and cut his EPS estimates for 18 of those 28 banks.
COF Capital One
$88.30

2.44 (2.84%)

10/24/18
BMOC
10/24/18
NO CHANGE
Target $146
BMOC
Outperform
Capital One price target raised to $146 from $135 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Capital One to $146 and kept his Outperform rating after its "credit-driven" Q3 earnings beat. The analyst cites lower than expected loan loss provision and higher net interest income, adding that the stock offers a "very meaningful" re-rating potential.
10/24/18
NOMU
10/24/18
NO CHANGE
Target $98
NOMU
Neutral
Capital One price target lowered to $98 from $109 at Nomura Instinet
Nomura Instinet analyst Bill Carcache lowered his price target for Capital One Financial to $98 saying last night's Q3 results were "mixed." The analyst estimates that without the benefit of reserve releases, core earnings per share came in at $2.72, below the consensus of $2.86. However, he points out that results were negatively impacted by a 32c securities portfolio impairment charge related to the reinvestment of underwater agency mortgage backed securities. He keeps a Neutral rating on Capital One.
10/24/18
SDLR
10/24/18
NO CHANGE
Target $115
SDLR
Buy
Capital One price target raised to $115 after earnings beat at Sandler O'Neill
Sandler O'Neill analyst Christopher Donat raised his 2018, 2019 and 2020 EPS estimates for Capital One after the company's Q3 core EPS beat, which he was driven by a lower than expected provision for credit losses and net interest income that increased 4% from Q2. Separate from the earnings release, Capital One disclosed that its domestic card net charge off ratio was 4.13% in September, which was below Donat's expectation of 4.46%. He views the year-over-year charge off decrease as further evidence of "the end of the negative parts of growth math," added Donat. He raised his price target on Capital One shares to $115 from $113 and keeps a Buy rating on the shares.
10/24/18
WELS
10/24/18
NO CHANGE
Target $103
WELS
Outperform
Capital One price target lowered to $103 from $110 at Wells Fargo
Wells Fargo analyst Donald Fandetti lowered his price target for Capital One to $103 from $110 following quarterly results. The analyst reiterates an Outperform rating on the shares.
FISV Fiserv
$78.88

1.73 (2.24%)

10/15/18
FBCO
10/15/18
NO CHANGE
Target $75
FBCO
Neutral
Fiserv price target raised to $75 from $67 at Credit Suisse
Credit Suisse analyst Paul Condra raised his price target for Fiserv to $75 from $67, while reiterating a Neutral rating on the shares. While the stock was somewhat sluggish following Q2 results, it recovered strongly and was up 10% off these lows before falling during the widespread market selloff, he notes. The analyst sees Fiserv's acquisition of US Bank's ATM and debit servicing business as a continuation of its strategy to add incremental businesses that fit the overall growth and margin profile of the company.
09/19/18
ARGS
09/19/18
NO CHANGE
Target $90
ARGS
Buy
Fiserv price target raised to $90 from $85 at Argus
Argus analyst Jasper Hellweg raised his price target on Fiserv to $90 and kept his Buy rating, saying the company should continue to benefit from technology infrastructure spending by its primary customers that include banks and credit unions as they seek greater processing efficiency in bill payment and credit card transaction. The analyst also raises his FY18 EPS view to $3.14 from $3.12 following Fiserv's Q2 earnings beat, adding that its shares have a "healthy upside" potential even without multiple expansion thanks to the benefits of the company's "highly scalable" business model.
08/14/18
JPMS
08/14/18
NO CHANGE
JPMS
JPMorgan shuffles ratings in Payments & Processors, upgrades Alliance Data
JPMorgan analyst Tien-tsin Huang rebalanced his ratings in the Payments & Processors while establishing 2019 price targets. With payments "increasingly being consumed and distributed via technology," the analyst continues to favor the "more modern, digital players." He believes the shift towards integrated payments and digital banking is in the early stages. Analyst Reginald Smith upgraded Alliance Data Systems (ADS) to Overweight from Neutral and raised his price target for the shares to $281 from $270. Smith thinks stock sentiment is nearing an inflection point as delinquency trends stabilize. Huang downgraded Fiserv (FISV) and Paychex (PAYX) to Underweight from Neutral, saying the companies are below-average growers with below-average earnings upside risk.
08/28/18
BARD
08/28/18
NO CHANGE
BARD
Outperform
Fiserv flaw report looks bad, but seems to have been quickly fixed, says Baird
Baird analyst David Koning said a KrebsOnSecurity blog report about Fiserv "may optically look bad" for the company's web platform, though it does not appear any money was lost. The Krebs report noted that a Fiserv spokesperson said a security patch was developed within 24 hours of receiving notice of the weakness and Koning said most security issues of this nature seen in recent years have been fixed quickly with limited financial impact to companies. He continues to like Fiserv's consistency of earnings growth and free cash flow and keeps an Outperform rating on the shares.
FITB Fifth Third
$25.88

0.91 (3.64%)

09/14/18
SPHN
09/14/18
NO CHANGE
SPHN
Subprime lenders weakness may be opportunity, says Stephens
Stephens analyst Vincent Caintic attributes weakness in shares of subprime consumer lenders to news that U.S. Bancorp (USB) is re-entering the small dollar, high yield lending business after Fifth Third (FITB) re-entered two months ago. However, he views the OCC's push for banks to offer small dollar loans as a positive for online lenders and notes that the recent bank announcements are for loans yielding 40%-70%, which competes against products from Regional Management (RM) and World Acceptance (WRLD) but should not impact online lenders. Subprime online lenders include Enova (ENVA) and Elevate Credit (ELVT). Other publicly traded companies in the FinTech space include LendingClub (LC) and On Deck Capital (ONDK).
09/20/18
WEDB
09/20/18
NO CHANGE
WEDB
Outperform
Fifth Third added to Best Ideas List at Wedbush
Wedbush analyst Jesse Bigelow added Fifth Third Bancorp to the firm's Best Ideas List, telling investors in a research note that the company has several earnings levers that other banks don't have to overcome macro tailwinds that are slowing, including the "elusive" rebound in loan growth and less margin benefit from rate hikes as deposit costs are accelerating.
10/24/18
NOMU
10/24/18
UPGRADE
NOMU
Neutral
Fifth Third upgraded to Neutral from Reduce at Nomura Instinet
10/24/18
NOMU
10/24/18
UPGRADE
Target $29
NOMU
Neutral
Fifth Third upgraded to Neutral on valuation at Nomura Instinet
Nomura Instinet analyst Bill Carcache upgraded Fifth Third Bancorp to Neutral from Reduce while lowering his price target for the shares to $29 from $32. While further deal integration headwinds are possible in coming quarters, the shares adequately discount the risks following the recent underperformance, Carcache tells investors in a research note.
HMC Honda
$26.64

0.58 (2.23%)

10/03/18
10/03/18
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. Nike (NKE) downgraded to Hold from Buy at HSBC with analyst Erwan Rambourg saying while the company's Q1 results were strong and the outlook "remains rock solid," the company's valuation multiple of 30-times forward earnings may weigh on the stock. 2. Oracle (ORCL) downgraded to In Line from Outperform at Evercore ISI with analyst Kirk Materne saying even though growth is expected to accelerate modestly in the second half of this year, there are not enough catalysts for share to "meaningfully re-rate" from current levels, adding that the risk-reward appears balanced following this summer's rally. 3. Honda (HMC) downgraded to Outperform from Buy at CLSA with analyst Christopher Richter saying demand for its vehicles appears to be leveling out in North America, China and Japan. 4. Asbury Automotive (ABG) downgraded to Neutral from Buy at Buckingham. 5. Hi-Crush Partners (HCLP) downgraded to Hold from Accumulate at Johnson Rice and to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/18
10/03/18
DOWNGRADE

Outperform
Honda downgraded to Outperform on signs of lower demand at CLSA
As previously reported, CLSA analyst Christopher Richter downgraded Honda to Outperform from Buy and lowered his estimates given signs he sees that demand for its vehicles appears to be levelling out in North America, China and Japan. The analyst, who still sees Honda "easily beating" its fiscal year guidance, but not by as much as before, lowered his price target on Honda shares to Y3,900 from Y4,200.
10/03/18
LYON
10/03/18
DOWNGRADE
LYON
Outperform
Honda downgraded to Outperform from Buy at CLSA
07/31/18
LYON
07/31/18
UPGRADE
LYON
Buy
Honda upgraded to Buy from Outperform at CLSA
CLSA analyst Chris Richter upgraded Honda to Buy from Outperform following the Q1 beat and raised guidance saying risks from U.S. tariffs are fading.
HYMTF Hyundai Motor
$0.00

(0.00%)

INDB Independent Bank
$75.90

1.97 (2.66%)

12/18/17
COMP
12/18/17
UPGRADE
Target $80
COMP
Buy
Independent Bank upgraded to Buy on tax reform at Compass Point
Compass Point analyst Laurie Havener Hunsicker upgraded Independent Bank to Buy from Neutral and increased its price target to $80 from $75 ahead of potential tax reform that is expected to be signed into law this week. The analyst raised her 2018 earnings estimate to $4.67 from $4.49.
07/22/18
KBWI
07/22/18
UPGRADE
Target $104
KBWI
Outperform
Independent Bank upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Collyn Gilbert upgraded Independent Bank to Outperform and raised her price target for the shares to $104 from $85. The analyst sees "significant tailwinds" for the company following its Q2 earnings report.
09/27/18
KBWI
09/27/18
NO CHANGE
Target $104
KBWI
Outperform
Independent Bank selloff since Blue Hills deal overdone, says Keefe Bruyette
Keefe Bruyette analyst Collyn Gilbert views the selloff in shares of Independent Bank (INDB) since the announcement of the Blue Hills Bancorp (BHBK) as overdone. The stock is down 7% since the news, Gilbert tells investors in a research note. The analyst reiterates an Outperform rating on Independent Bank with a $104 price target.
09/25/18
PIPR
09/25/18
DOWNGRADE
PIPR
Neutral
Blue Hills Bancorp downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Matthew Breese downgraded Blue Hills Bancorp (BHBK) to Neutral citing the acquisition by Independent Bank (INDB).
INFO IHS Markit
$50.88

0.87 (1.74%)

10/23/18
BOFA
10/23/18
INITIATION
Target $63
BOFA
Buy
IHS Markit reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Gary Bisbee reinstated coverage on IHS Markit with a Buy and $63 price target saying the company has solid momentum and is trading at a discount to peers. Bisbee expects earnings momentum to be driven by rising auto product growth, energy markets rebound, merger synergies, recent product development investments, and operating efficiency initiatives and called IHS Markit a best idea in the Business and Information Services sector.
10/11/18
LEHM
10/11/18
INITIATION
Target $60
LEHM
Overweight
IHS Markit reinstated with an Overweight at Barclays
Barclays analyst Manav Patnaik reinstated coverage of IHS Markit with an Overweight rating and $60 price target following the acquisition of Ipreo. The analyst, who admits that he still struggles to understand the industrial logic behind IHS and Markit's merger of equals back in 2016, says investors have been presented with a diversified "Info" conglomerate that will more often than not produce 5%-7% organic growth, margin expansion and low double-digit earnings growth. He thinks IHS Markit's "ability to compound" in the medium term can continue to win investor support.
09/26/18
RHCO
09/26/18
NO CHANGE
Target $66
RHCO
Buy
IHS Markit price target raised to $66 from $61 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price target on IHS Markit to $66 and kept his Buy rating, saying the company is "positioned to capitalize on leading positions across its markets". The analyst cites IHS Markit's "ongoing global Resources rebound, comprehensive Transportation workflows and an apparently resurgent Financial segment". Jeffrey adds that he expects the company's EBITDA multiples to expand further to match valuations of other information services leaders, raising his FY19 EBITDA view to $1.79B from $1.67B. The analyst further notes that his expected outlook assumes over 400bps of EBITDA margin expansion over the long term.
08/29/18
PIPR
08/29/18
NO CHANGE
PIPR
Piper calls IHS Markit, S&P Global top picks in Information Services
Piper Jaffray analyst Peter Appert calls IHS Markit (IHS) and S&P Global (SPGI) his top picks in the Information Services sector. Dun & Bradstreet's (DNB) pending sale to a private equity group and Nielsen's (NLSN) strategic review refocuses investor attention on M&A activity in the sector, Appert tells investors in a research note. He says that while "rich" transaction values provide an "intriguing valuation backstop for the group," he continues to focus on operating fundamentals as the key driver of stock performance.
JMP JMP Group
$4.83

-0.25 (-4.92%)

02/16/18
BRRR
02/16/18
NO CHANGE
BRRR
JMP Group results beat expectations, says Barrington
Barrington analyst Alexander Paris, Jr. maintained an Outperform rating and $8 price target on JMP Group shares following the company's Q4 earnings results, where both earnings and revenue were ahead of the firm's expectations.
LC LendingClub
$3.24

0.06 (1.89%)

07/19/18
07/19/18
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 CUTS TESLA TO UNDERPERFORM: Needham analyst Rajvindra Gill downgraded Tesla (TSLA) to Underperform from Hold, stating the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. The analyst cited expectations of slower Model S/X sales amid increased competition and possible cannibalization from the Model 3, the expiration of credits, slower gross margins improvement with "persistently high" production costs, lower energy segment revenue after recent restructuring, and Tesla's "unsustainable capital structure." Tesla is down 1.9% in midday trading. CREDIT SUISSE UPGRADES SQUARE: Credit Suisse analyst Paul Condra upgraded Square (SQ) to Outperform from Neutral, saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants. He also said positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases. The analyst also raised his price target on the shares to $81 from $44. MORGAN STANLEY UPS SQUARE TARGET: Morgan Stanley analyst James Faucette sees good potential for upward estimate revisions for Square in the near-term and raised his price target on the stock to $75 from $43. However, Faucette kept an Equal Weight rating on Square, calling its valuation "demanding" and citing his continued view that new services are misvalued. Square is higher by 3.5% at midday. MORGAN STANLEY DOWNGRADES LENDINGCLUB, ON DECK: Morgan Stanley's Faucette downgraded LendingClub (LC) to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. Faucette lowered his price target on LendingClub shares to $5 from $6. Faucette downgraded On Deck Capital (ONDK) to Underweight from Equal Weight, stating that he sees the company needing a long time to meaningfully scale the "OnDeck-as-a-Service," which he believes will limit the stock's potential for valuation expansion above small-to-mid cap banks. Also, Faucette sees limited upside potential to origination growth estimates given the company's preference for delivering profitability versus growth, he tells investors. PIPER POSITIVE ON CISCO AND ARISTA, CALLS AMAZON FEARS OVERBLOWN: Amazon (AMZN) is not entering the network switching market as speculated on July 13, Piper Jaffray analyst James Fish told investors in a research note. The confirmation by Amazon removes the potential shadow of Amazon on the space. The analyst continued to recommend Cisco (CSCO) and Arista (ANET) as his top networking picks.
07/19/18
MSCO
07/19/18
DOWNGRADE
Target $5
MSCO
Equal Weight
LendingClub downgraded as FTC probe seen detering investors at Morgan Stanley
As previously reported, Morgan Stanley analyst James Faucette downgraded LendingClub to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. While its fundamentals are undervalued, there is also execution risk, added Faucette, who lowered his price target on LendingClub shares to $5 from $6.
07/19/18
MSCO
07/19/18
DOWNGRADE
MSCO
Equal Weight
LendingClub downgraded to Equal Weight from Overweight at Morgan Stanley
NCI Navigant Consulting
$21.23

0.27 (1.29%)

05/07/18
BRRR
05/07/18
UPGRADE
Target $26
BRRR
Outperform
Navigant Consulting upgraded to Outperform from Market Perform at Barrington
Barrington analyst Kevin Steinke upgraded Navigant Consulting to Outperform with a $26 price target. The analyst views the Q1 results as "solid" and sees the company's business improving throughout 2018. He believes Navigant's risk/reward is favorable at current share levels.
06/26/18
BRRR
06/26/18
NO CHANGE
Target $26
BRRR
Outperform
Barrington views Navigant Consulting agreement to sell DFLT segment as positive
Barrington analyst Kevin Steinke notes that Navigant Consulting announced an agreement to sell its Disputes, Forensics and Legal Technology segment and its transaction advisory services practice within the Financial Services Advisory & Compliance segment to Ankura Consulting Group for $470M. The analyst views this as an attractive valuation from Navigant's perspective. Exiting the event-driven DFLT business gives management greater bandwidth to focus on the company's strategic and operational consulting services and managed services offerings, he contended. Steinke reiterates an Outperform rating and $26 price target on Navigant's shares.
08/02/18
WBLR
08/02/18
DOWNGRADE
WBLR
Market Perform
Navigant Consulting downgraded to Market Perform at William Blair
William Blair analyst Timothy McHugh downgraded Navigant Consulting to Market Perform from Outperform following this morning's Q2 results. The analyst sees uncertainty regarding 2019.
08/23/18
BRRR
08/23/18
NO CHANGE
Target $30
BRRR
Outperform
Navigant Consulting price target raised to $30 from $26 at Barrington
Barrington analyst Kevin Steinke raised his price target for Navigant Consulting to $30 saying the company's continuing operations outlook implies a "strong" ramp in profitability. The analyst believes Navigant deserves to trade at a higher multiple going forward and keeps an Outperform rating on the shares.
NSANY Nissan
$0.00

(0.00%)

03/13/18
MSCO
03/13/18
NO CHANGE
MSCO
Morgan Stanley compares automakers to Facebook, Apple in 'Auto 2.0' model
Morgan Stanley analyst Adam Jonas noted that auto companies' valuations have compressed to extremely low levels, but he believes that a move from a vehicle ownership model to a transportation subscriber model could expand the revenue opportunities for the potential "tollkeepers" for the monetization of content and data by "nearly an order of magnitude." Looking at U.S. technology leaders Facebook (FB) and Apple (AAPL), which are both valued on their installed base/subscriber models, can "offer valuable clues" regarding the opportunity for General Motors (GM) and other auto OEMs, said Jonas. Viewing the OEMs though the lens of a subscription model, which should be less cyclical and potentially less capital intensive over time than the current auto model, is relevant to analyzing auto stocks, according to Jonas, who adds that it is still too early to call a winner or loser in "Auto 2.0." Other publicly traded legacy automakers include Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Nissan (NSANY), Toyota (TM), Volkswagen (VLKAY) and Daimler (DDAIF).
PEGA Pegasystems
$52.85

1.69 (3.30%)

08/15/18
MUFG
08/15/18
NO CHANGE
Target $65
MUFG
Overweight
Pegasystems headline shortfalls due to higher subscription mix, MUFG says
MUFG analyst Stephen Bersey kept his Overweight rating and $65 price target on Pegasystems after its Q2 results, saying that despite the headline miss, the company had a solid quarter. The analyst states the reported shortfalls were due to a "higher subscription mix than either the company or the Street anticipated", adding that looking through the lens of annual contract value", the growth of 31% was "impressive". Bersey adds that Pegasystems is maintaining its operating momentum.
04/26/18
04/26/18
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. Omega Healthcare (OHI) initiated with a Market Perform at Raymond James. 2. HighPoint Resources (HPR) initiated with an Overweight at JPMorgan. 3. Veritone (VERI) initiated with a Buy at DA Davidson. 4. Pegasystems (PEGA) initiated with a Buy at DA Davidson. 5. Apollo Medical (AMEH) initiated with a Buy at Dougherty. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/26/18
DADA
04/26/18
INITIATION
Target $72
DADA
Buy
Pegasystems initiated with a Buy at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Pegasystems (PEGA) with a Buy rating and a price target of $72, citing the company's market leading position in the business process management and case management markets amid the crowing presence of customer relationship management technologies. Jaluria says the company continues to take market share from legacy vendors like IBM (IBM) and Oracle (ORCL) and increasing its competitive position in CRM, while driving opportunities for margin expansion.
03/01/18
WEDB
03/01/18
NO CHANGE
Target $73
WEDB
Outperform
Pegasystems price target raised to $73 from $66 at Wedbush
Wedbush analyst Steve Koenig raised his price target for Pegasystems to $73 from $66 following a "solid" Q4. The analyst reiterates an Outperform rating on the shares.
STI SunTrust
$60.35

1.53 (2.60%)

07/25/18
ARGS
07/25/18
NO CHANGE
Target $81
ARGS
Buy
SunTrust price target raised to $81 from $75 at Argus
Argus analyst Stephen Biggar raised his price target on SunTrust to $81 and kept his Buy rating after its better than expected Q2 results. The analyst cites net interest margin expansion and a sharply lower provision for loan losses in the quarter because of the bank's "strong credit quality". Biggar is also positive on the latest Federal Reserve CCAR decision on its capital, leading to a 25% increase in the bank's dividend and a $2B stock repurchase, which is up 52% from prior year. The analyst notes that SunTrust's modest premium is justified by its strong regional banking presence and balance sheet positioning for higher interest rates.
09/13/18
PIPR
09/13/18
DOWNGRADE
Target $74
PIPR
Neutral
SunTrust downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Kevin Barker downgraded SunTrust Banks to Neutral and lowered his price target for the shares to $74 from $76. Revenue headwinds are beginning to surface while the shares have had a "great run," Barker tells investors in a research note. He believes slowing sales growth and a flattening of net interest margin could make consensus estimates difficult to achieve.
07/23/18
07/23/18
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. Duke Energy (DUK) upgraded to Neutral from Underweight at JPMorgan with analyst Christopher Turnure saying execution risk is priced into the shares at current levels and the company's visibility is improved following recent regulatory outcomes. 2. SunTrust (STI) upgraded to Buy from Neutral at B. Riley FBR with analyst Steve Moss citing the company's better outlook for revenue growth and efficiency improvement following its "good" Q2 results. 3. Cleveland-Cliffs (CLF) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Gambardella citing the company's "strong" U.S. iron ore earnings momentum and the removal of an overhang with the Asia Pacific Iron Ore sale. 4. Delphi Technologies (DLPH) upgraded to Outperform from Perform at Oppenheimer with analyst Noah Kaye saying that trade risks, peak U.S. SAAR concerns, light duty diesel decline and potential long-term disruption from electrification have all contributed to a tempest of negative sentiment on the auto suppliers. 5. Essex Property Trust (ESS) upgraded to Market Perform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TM Toyota
$116.70

2.14 (1.87%)

10/22/18
BOFA
10/22/18
UPGRADE
BOFA
Buy
Toyota upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Kei Nihonyanagi upgraded Toyota to Buy from Neutral and raised estimates saying Q2 results confirm progress in improving North American profits and the share buyback announcement supports the share price.
06/06/18
MSCO
06/06/18
NO CHANGE
MSCO
Morgan Stanley says Softbank stake in Cruise significant 'far beyond' just GM
Morgan Stanley analyst Adam Jonas said Softbank's (SFTBF) recently announced investment in GM Cruise "carries significance far beyond" General Motors (GM), arguing that the increasingly conspicuous involvement of "outside validators" such as large-cap tech firms and prominent investors can accelerate perception change in the capital markets about "Auto 2.0." He envisions the possible formation of two different companies currently held under one automaker's roof, which he dubs an Auto 2.0 "Yieldco" and an Auto 2.0 "Growthco." Converting car owners into monthly subscribers could open up significant revenue, profit, and value opportunities for traditional automakers, argues Jonas in a note to investors. Other automaking "OEMs" include Ford (F), Daimler (DDAIF), Toyota (TM), Honda (HMC), Fiat Chrysler (FCAU) and BMW Group (BAMXY).
06/02/18
GSCO
06/02/18
UPGRADE
GSCO
Buy
Toyota upgraded to Buy from Neutral at Goldman Sach
Goldman Sachs analyst Kota Yuzawa upgraded Toyota Motor (TM) to Buy with an increased price target of 8,500 yen. The carmaker's U.S. shares closed yesterday up $3.36 to $131.31. While sales growth is unlikely amid increasing competition in the U.S. market, management has made it clear they will be focusing strongly on lowering costs, Yuzawa tells investors in a research note. As such, the analyst expects Toyota to establish a "leaner earnings structure" over the next few years and improve its operating structure. Yuzawa this morning also downgraded Honda Motor (HMC) to Neutral from Buy.
06/01/18
06/01/18
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. American Airlines (AAL) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying American is likely to reduce capacity starting in the post-labor day period, which should be well received by investors. 2. T2 Biosystems (TTOO) upgraded to Outperform from Market Perform at Leerink with analyst Puneet Souda saying this week's T2bacteria FDA clearance expands the company's market opportunity "dramatically" from $1.4B to over $3B. 3. Highwoods Properties (HIW) upgraded to Buy from Hold at Stifel with analyst John Guinee saying he believes the macro environment is changing to the positive for REITs. 4. Toyota (TM) upgraded to Outperform from Neutral at Daiwa. 5. RLJ Lodging Trust (RLJ) upgraded to Overweight from Equal Weight at Barclays with analyst Felicia Hendrix saying she views the current valuation as attractive and sees a strong RevPAR outlook for 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TREE LendingTree
$212.00

11.41 (5.69%)

10/05/18
SPHN
10/05/18
NO CHANGE
Target $350
SPHN
Overweight
LendingTree acquiring QuoteWizard an 'important development,' says Stephens
Stephens analyst John Campbell called LendingTree's deal to acquire QuoteWizard "an important development" for a number of reasons, including the acceleration in market share it should bring; the diversification, which he views as timely given the pressures in the mortgage and credit card channels; and the accretion potential. Campbell remains a "strong buyer" of LendingTree shares and reiterates an Overweight rating and $350 price target on the stock following the deal announcement.
09/20/18
OPCO
09/20/18
NO CHANGE
OPCO
Outperform
LendingTree has 'large opportunities' to gain share, says Oppenheimer
Oppenheimer analyst Jed Kelly reiterated an Outperform rating on LendingTree, telling investors in a research note that he came away from the 2018 Digital Mortgage Conference bullish on the company's long-term opportunity. Few lenders have the capabilities to operate a fully scalable mortgage operation and will be required to outsource different processes, he said, and, as a result, sees large opportunities for scalable platforms such as LendingTree to gain share.
08/16/18
DBAB
08/16/18
NO CHANGE
Target $270
DBAB
Hold
LendingTree price target cut to $270 from $290 at Deutsche Bank
Deutsche Bank analyst Kunal Madhukar reiterated a Hold rating on Lending Tree and cut his price target on shares to $270 following "mixed" results, with the top line below expectations. While he continues to like the long-term story, the analyst tells investors in a research note that he is still Hold-rated given the near-term slowdown.
08/07/18
BWSF
08/07/18
NO CHANGE
Target $194
BWSF
Sell
Zillow acquisition a risk for LendingTree, says BWS Financial
The acquisition of Mortgage Lenders of America by Zillow Group (ZG) is further risk to LendingTree's (TREE) business, BWS Financial analyst Hamed Khorsand tells investors in a research note. LendingTree is already facing a price ceiling on referral rates, the analyst contends. He believes Zillow buying one of the company's customers "emphasizes some of the headwinds that could persist for a while." Further consolidation among mortgage lenders could further deteriorate the ability for LendingTree to retain current level of referral rates, Khorsand contends. He keeps a Sell rating on the shares with a $194 price target.
TRI Thomson Reuters
$46.45

0.07 (0.15%)

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.
09/13/18
MSCO
09/13/18
UPGRADE
MSCO
Overweight
Thomson Reuters upgraded to Overweight from Equal Weight at Morgan Stanley
08/28/18
ADAM
08/28/18
NO CHANGE
Target $45
ADAM
Buy
Thomson Reuters buyback plans generally in line with Canaccord expectations
Canaccord analyst Aravinda Galappatthige said Thomson Reuters' plans to repurchase up to $9B of shares at a price between $42 and $47 is generally in line with his expectations in terms of size and the indicated premium. The analyst, who keeps a Buy rating on the stock, said his $45 price target already factors in the impact of this buyback and the decrease in debt.
10/18/18
GSCO
10/18/18
INITIATION
GSCO
Neutral
Thomson Reuters reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst George King reinstated Thomson Reuters with a Neutral and $49 price target saying valuation reflects stable Legal and Tax business and cost take-out opportunities.
TRU TransUnion
$63.89

(0.00%)

10/23/18
BOFA
10/23/18
INITIATION
Target $84
BOFA
Buy
TransUnion reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Gary Bisbee reinstated coverage on TransUnion with a Buy and $84 price target saying he expects broad-based product momentum to continue. The analyst expects above average market-growth and to use the recent pullback as a buying opportunity. Bisbee named TransUnion a best idea in the Business and Information Services sector.
10/24/18
ATLE
10/24/18
UPGRADE
ATLE
Overweight
TransUnion upgraded to Overweight from Neutral at Atlantic Equities
10/24/18
10/24/18
UPGRADE
Target $82

Overweight
TransUnion upgraded to Overweight following pullback at Atlantic Equities
As previously reported, Atlantic Equities analyst Kunaal Malde upgraded TransUnion to Overweight from Neutral, noting that the stock has fallen 15% from its highs despite no real change to the company's outlook. The company's issues with certain clients, particularly in healthcare, that lead to a moderation in organic growth look transitory, Malde said. Noting that credit remains healthy, the analyst said he continues to estimate mid-teens EPS growth over the medium term. Malde keeps an $82 price target on TransUnion shares.
10/24/18
BARD
10/24/18
NO CHANGE
Target $81
BARD
Outperform
TransUnion weakness a buying opportunity, says Baird
Baird analyst Jeffrey Meuler said he likes TransUnion shares a lot following their recent pullback. He said organic growth remains strong and broad-based, and the Q3 underlying margin performance was very strong. Meuler reiterated his Outperform rating and $81 price target on TransUnion shares.
V Visa
$140.56

6.56 (4.90%)

10/25/18
LOOP
10/25/18
NO CHANGE
Target $157
LOOP
Buy
Visa strategic position 'as attractive as ever', says Loop Capital
Loop Capital analyst Joseph Vafi kept his Buy rating and $157 price target on Visa after its Q4 results, saying the key drivers for the company's continued solid profitability are the "double-digit growth in payment volumes, cross-border volumes and overall processed transactions". The analyst adds that Visa's incentives appear to be normalizing , which is a "sign of further client contract transitions from Visa Europe", while its Asia customer growth trend remains strong.
10/25/18
BMOC
10/25/18
NO CHANGE
Target $196
BMOC
Outperform
Visa price target raised to $196 from $187 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Visa to $196 after its Q4 earnings beat, saying the stock "remains" his "highest conviction" Outperform recommendation. The analyst notes that the lower than expected incentives and taxes "more than offset" lower revenues, which were driven by declines in China volumes and higher expenses. Fotheringham also raises his FY19 EPS view by 5c to $5.40 to reflect higher-than-previously-modeled net revenues coming from faster volume growth.
10/25/18
MSCO
10/25/18
NO CHANGE
Target $165
MSCO
Overweight
Visa trends remain healthy despite some forex headwinds, says Morgan Stanley
Morgan Stanley analyst James Faucette said Visa's Q4 results and FY19 outlook point to a continuation of solid underlying trends globally, despite some headwinds resulting from the stronger U.S. dollar. Despite the expected forex headwind, Faucette points to Europe, India and Visa Direct as among the company's multiple potential upside drivers. He maintains an Overweight rating and $165 price target on Visa shares.
10/19/18
RHCO
10/19/18
NO CHANGE
Target $88
RHCO
Hold
PayPal price target lowered to $88 from $92 at SunTrust
SunTrust analyst Andrew Jeffrey lowered his price target on Paypal (PYPL) to $88 and kept his Hold rating after its Q3 results, saying that while the company is benefiting from "important secular demand drivers" of eCommerce and Mobile, he remain "guarded" in relation to its Venmo monetization and barriers to entry. The analyst adds that given PayPal's position as a "hybrid" growth company, it lacks a "competitive moat" unlike Visa (V) and MasterCard (MA), arguing that those two offer a superior risk-reward proposition for longer term investors.
VLY Valley National
$9.59

-0.01 (-0.10%)

06/20/18
PIPR
06/20/18
NO CHANGE
Target $15
PIPR
Overweight
Valley National confusion brings buying opportunity, says Piper Jaffray
Piper Jaffray analyst Matthew Breese remains positive on shares of Valley National Bancorp and believes the company's outlined cost cutting efforts will drive better long term profitability and a better valuation. The analyst does not believe the company's initiatives are fully reflected in Street expense forecasts. Breese would be long Valley shares into the quarter given room for improvement on expense estimates and new details on the forthcoming branch strategy. He thinks confusion has created a buying opportunity and keeps an Overweight rating on Valley National with a $15 price target.
06/18/18
SBSH
06/18/18
INITIATION
Target $14
SBSH
Neutral
Valley National initiated with a Neutral at Citi
Citi analyst Arren Cyganovich started Valley National Bancorp with a Neutral rating and $14 price target.
04/26/18
SDLR
04/26/18
UPGRADE
SDLR
Buy
Valley National upgraded to Buy from Hold at Sandler O'Neill
01/05/18
PIPR
01/05/18
UPGRADE
Target $13.5
PIPR
Overweight
Valley National upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Matthew Breese upgraded Valley National to Overweight and raised his price target for the shares to $13.50 from $13. The analyst sees a favorable risk/reward setup with the potential for outperformance saying the new CEO "will be laser-focused on improving bottom-line results."
WTKWY Wolters Kluwer
$0.00

(0.00%)

EXPGY Experian
$0.00

(0.00%)

12/14/17
LEHM
12/14/17
DOWNGRADE
Target $128
LEHM
Equal Weight
Equifax downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Manav Patnaik downgraded Equifax (EFX) to Equal Weight while raising his price target for the shares to $128 from $115. The analyst believes the shares will be range bound in 2018 until investors can better understand the extent of the market share losses from the data breach. Patnaik also removed "Top Pick" status from TransUnion (TRU) but keeps an Overweight rating on the shares. Among Credit Bureaus, the analyst prefers both TransUnion and Experian (EXPGY) over Equifax.
01/08/18
UBSW
01/08/18
UPGRADE
UBSW
Buy
Experian upgraded to Buy from Neutral at UBS
UBS analyst Rory McKenzie upgraded Experian to Buy with an increased price target of 1,900p. The analyst sees the company's organic growth accelerating in 2018.
04/23/18
DBAB
04/23/18
UPGRADE
DBAB
Buy
Experian upgraded to Buy from Sell at Deutsche Bank
Deutsche Bank double upgraded Experian to Buy from Sell and raised its price target for the shares to 1750p from 1380p.
01/10/18
FBCO
01/10/18
NO CHANGE
FBCO
Outperform
Experian added to European Focus List at Credit Suisse
Credit Suisse analyst Andy Grobler is adding Experian to his firm's European Focus List as he expects that organic growth will accelerate as the U.S. Consumer division returns to growth, Brazil improves and U.S. Credit Services benefits from contract wins and stable end markets. The analyst reiterates an Outperform rating on the shares.
WU Western Union
$17.93

0.26 (1.47%)

02/14/18
MZHO
02/14/18
UPGRADE
MZHO
Neutral
Western Union upgraded to Neutral from Underperform at Mizuho
07/17/18
WOLF
07/17/18
INITIATION
Target $20
WOLF
Underperform
Western Union initiated with an Underperform at Wolfe Research
Wolfe Research analyst Darrin Peller started Western Union with a Underperform rating and $20 price target.
07/19/18
MSCO
07/19/18
NO CHANGE
MSCO
Morgan Stanley upgrades Payments and Processing industry to Attractive
Morgan Stanley analyst James Faucette upgraded his view of the Payments and Processing industry to Attractive, citing the firm's U.S. Strategy Team's call for rotation out of Technology and his view that Payments will be seen as an attractive option for investors looking to become more defensive. Investors underappreciate the resilience of consumer spending and Faucette sees the potential for his Payments coverage market-cap weighted earnings growth to accelerate organically to 15% over 2018-2020 from 11% growth over the last three years, he tells investors. In the group, the firm has Overweight ratings on Visa (V), MasterCard (MA), PayPal (PYPL), GreenSky (GSKY), Worldpay (WP) and FleetCor (FLT). Morgan Stanley has Underweight ratings on Western Union (WU) and On Deck Capital (ONDK), having downgraded On Deck this morning.
09/27/18
DBAB
09/27/18
NO CHANGE
DBAB
Buy
FleetCor could be acquirer of Western Union's B2B business, says Deutsche Bank
Bloomberg yesterday reported that Western Union (WU) is working with an adviser to potentially sell its business-to-business cross-border payments business, and that the unit could fetch $500M. Deutsche Bank analyst Ashish Sabadra believes FleetCor (FLT) could be a potential acquirer given the synergies with its Cambridge B2B cross-border payments. The analyst estimates an acquisition could be $1 accretive to earnings per share 12-18 months post acquisition close, depending on the terms of a deal and the margin potential. More importantly, the deal would significantly enhance FleetCor's market positioning in B2B cross-border payments, Sabadra tells investors in a research note. The analyst thinks a potential accretive acquisition could provide upside to 2019 estimates. He keeps a Buy rating on FleetCor.

TODAY'S FREE FLY STORIES

LGCY

Legacy Reserves

$0.11

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Nanometrics initiated at B. Riley FBR »

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BA

Boeing

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DLAKY

Lufthansa

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KEQU

Kewaunee Scientific

$22.34

0.44 (2.01%)

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GM

General Motors

$36.71

0.58 (1.61%)

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FLXS

Flexsteel Industries

$16.77

-0.13 (-0.77%)

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ADBE

Adobe

$276.80

1.21 (0.44%)

, JBL

Jabil

$27.33

0.53 (1.98%)

19:02
06/18/19
06/18
19:02
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19:02
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Adobe…

ADBE

Adobe

$276.80

1.21 (0.44%)

JBL

Jabil

$27.33

0.53 (1.98%)

X

U.S. Steel

$14.58

0.62 (4.44%)

ARQL

ArQule

$9.37

-0.19 (-1.99%)

UPWK

Upwork

$15.15

-0.29 (-1.88%)

MTSI

Macom

$14.40

-0.02 (-0.14%)

LZB

La-Z-Boy

$29.76

-0.47 (-1.55%)

KURA

Kura Oncology

$18.73

-0.76 (-3.90%)

GPRE

Green Plains

$12.48

0.3 (2.46%)

NCR

NCR Corp.

$31.34

0.31 (1.00%)

ZYME

Zymeworks

$20.15

-0.51 (-2.47%)

GNCA

Genocea

$5.16

-0.24 (-4.44%)

YY

YY

$77.13

2.14 (2.85%)

EAF

GrafTech

$10.95

0.14 (1.30%)

03/08/13
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  • 18

    Jun

  • 18

    Jun

  • 19

    Jun

  • 19

    Jun

  • 25

    Jun

  • 20

    Jun

PCG

PG&E

$19.15

0.27 (1.43%)

18:59
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06/18
18:59
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18:59
Periodicals
PG&E to pay $1B to some CA communities to settle wildfire claims, WSJ says »

PG&E has agreed to…

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  • 21

    Jun

STOK

Stoke Therapeutics

$0.00

(0.00%)

18:46
06/18/19
06/18
18:46
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18:46
Syndicate
Stoke Therapeutics 7.89M share IPO priced at $18.00 »

The deal size was…

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  • 18

    Jun

  • 19

    Jun

LTXB

LegacyTexas Financial

$39.02

0.11 (0.28%)

18:36
06/18/19
06/18
18:36
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18:36
Downgrade
LegacyTexas Financial rating change at SunTrust »

LegacyTexas Financial…

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  • 26

    Aug

UNP

Union Pacific

$165.49

0.885 (0.54%)

18:24
06/18/19
06/18
18:24
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18:24
Hot Stocks
Union Pacific CEO: The President is addressing the right topics with China »

In an interview on…

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  • 18

    Jul

MYOS

MYOS

$1.40

0.11 (8.53%)

18:12
06/18/19
06/18
18:12
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18:12
Hot Stocks
MYOS says fortetropin shows increase rate of muscle protein synthesis in study »

MYOS RENS Technology…

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GM

General Motors

$36.71

0.58 (1.61%)

18:06
06/18/19
06/18
18:06
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18:06
Periodicals
Breaking Periodicals news story on General Motors »

GM, UAW negotiating to…

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  • 01

    Aug

  • 12

    Aug

BXC

BlueLinx

$22.03

0.305 (1.40%)

18:00
06/18/19
06/18
18:00
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18:00
Hot Stocks
BlueLinx sells two distribution facilities for $12M »

BlueLinx Holdings…

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EADSY

Airbus

$0.00

(0.00%)

, BA

Boeing

$374.21

19.31 (5.44%)

17:59
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06/18
17:59
06/18/19
17:59
Periodicals
U.S. expected to be open to ending aircraft subsidy dispute, Reuters says »

The U.S. is expected to…

EADSY

Airbus

$0.00

(0.00%)

BA

Boeing

$374.21

19.31 (5.44%)

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  • 09

    Jul

FB

Facebook

$188.46

-0.43 (-0.23%)

17:56
06/18/19
06/18
17:56
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17:56
Periodicals
House Banking chair Waters calls on Facebook to halt Libra, Reuters says »

House Financial Services…

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  • 10

    Jul

OII

Oceaneering

$18.34

0.7 (3.97%)

, APC

Anadarko

$69.95

0.16 (0.23%)

17:36
06/18/19
06/18
17:36
06/18/19
17:36
Hot Stocks
Oceaneering awarded supply contract for Mozambique LNG Project »

Oceaneering (OII)…

OII

Oceaneering

$18.34

0.7 (3.97%)

APC

Anadarko

$69.95

0.16 (0.23%)

03/08/13
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  • 18

    Jun

GVA

Granite Construction

$44.64

1.335 (3.08%)

17:35
06/18/19
06/18
17:35
06/18/19
17:35
Hot Stocks
Granite Construction JV awarded $275M highway construction project in Sacremento »

Granite Construction…

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APC

Anadarko

$69.95

0.16 (0.23%)

, FTI

TechnipFMC

$23.76

0.7 (3.04%)

17:33
06/18/19
06/18
17:33
06/18/19
17:33
Hot Stocks
TechnipFMC awarded subsea contracts by subsidiary of Anadarko Petroleum »

TechnipFMC (FTI) has been…

APC

Anadarko

$69.95

0.16 (0.23%)

FTI

TechnipFMC

$23.76

0.7 (3.04%)

03/08/13
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  • 18

    Jun

  • 25

    Jul

MDT

Medtronic

$97.96

0.65 (0.67%)

17:33
06/18/19
06/18
17:33
06/18/19
17:33
Hot Stocks
Medtronic exec Surface sells 9,000 ordinary shares »

In a regulatory filing,…

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  • 19

    Jun

EAF

GrafTech

$10.95

0.14 (1.30%)

17:20
06/18/19
06/18
17:20
06/18/19
17:20
Syndicate
Breaking Syndicate news story on GrafTech »

GrafTech files automatic…

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APC

Anadarko

$69.95

0.16 (0.23%)

17:12
06/18/19
06/18
17:12
06/18/19
17:12
Hot Stocks
Anadarko Area 1 Plan of Development now effective »

Anadarko Petroleum…

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