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MVIS

MicroVision

$1.10

0.04 (3.77%)

, LOGM

LogMeln

$75.74

-0.65 (-0.85%)

19:04
10/25/18
10/25
19:04
10/25/18
19:04

Fly Intel: After Hours Movers

UP AFTER EARNINGS: MicroVision (MVIS) up 10.1%... LogMeIn (LOGM) up 9.4%... Expedia (EXPE) up 4.6%... Boston Beer (SAM) up 3.7%... Netgear (NTGR) up 3.2%... Chipotle (CMG) up 1.6%... Cypress Semi (CY) up 1.3%... Intel (INTC) up 1.1%... Mattel (MAT) up 0.5%. ALSO HIGHER: Mellanox (MLNX) up 15.5% after CNBC report that the company is seeking a sale. DOWN AFTER EARNINGS: Flex Ltd (FLEX) down 19.2%... Mohawk Industries (MHK) down 17.9%... Seattle Genetics (SGEN) down 15.8%... Lattice Semi (LSCC) down 14.4%... Proofpoint (PFPT) down 14.1%... AK Steel (AKS) down 13.5%... Ellie Mae (ELLI) down 13.3%... Western Digital (WDC) down 12.1%... Snap (SNAP) down 10.0%... First Solar (FSLR) down 9.5%... Arlo Technologies (ARLO) down 8.6%... Amazon (AMZN) down 7.6%... Power Integration (POWI) down 5.9%... Alphabet (GOOG) down 3.3%... Stryker (SYK) down 2.6%... Boot Barn (BOOT) down 2.3%... Cerner (CERN) down 1.7%... Discover Financial (DFS) down 1.7%... Century Aluminum (CENX) down 1.5%.

MVIS

MicroVision

$1.10

0.04 (3.77%)

LOGM

LogMeln

$75.74

-0.65 (-0.85%)

EXPE

Expedia

$117.57

3.37 (2.95%)

SAM

Boston Beer

$270.51

-8.8 (-3.15%)

NTGR

Netgear

$56.20

1.2 (2.18%)

CMG

Chipotle

$423.90

10.29 (2.49%)

CY

Cypress Semiconductor

$12.09

0.33 (2.81%)

INTC

Intel

$44.31

1.89 (4.46%)

MAT

Mattel

$13.84

0.4 (2.98%)

MLNX

Mellanox

$72.65

6.83 (10.38%)

FLEX

Flex

$10.91

0.02 (0.18%)

MHK

Mohawk

$150.92

3.48 (2.36%)

SGEN

Seattle Genetics

$65.50

1.78 (2.79%)

LSCC

Lattice Semiconductor

$7.07

(0.00%)

PFPT

Proofpoint

$98.98

1.41 (1.45%)

AKS

AK Steel

$4.22

0.085 (2.06%)

ELLI

Ellie Mae

$79.72

-0.13 (-0.16%)

WDC

Western Digital

$54.00

1.71 (3.27%)

SNAP

Snap

$7.01

0.42 (6.37%)

FSLR

First Solar

$43.51

1.07 (2.52%)

ARLO

Arlo Technologies

$14.46

0.4 (2.85%)

AMZN

Amazon.com

$1,780.00

115.8 (6.96%)

POWI

Power Integrations

$54.34

0.77 (1.44%)

GOOG

Alphabet

$1,098.63

48.87 (4.66%)

SYK

Stryker

$165.36

2.07 (1.27%)

BOOT

Boot Barn

$28.11

1.23 (4.58%)

CERN

Cerner

$62.33

0.5 (0.81%)

DFS

Discover

$73.24

1.35 (1.88%)

CENX

Century Aluminum

$9.48

0.49 (5.45%)

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MVIS MicroVision
$1.10

0.04 (3.77%)

LOGM LogMeln
$75.74

-0.65 (-0.85%)

10/15/18
PIPR
10/15/18
NO CHANGE
Target $90
PIPR
Overweight
LogMeln price target lowered to $90 from $95 at Piper Jaffray
Piper Jaffray analyst Alex Zukin lowered his price target for LogMeln to $90 ahead of the company's Q3 results on October 25 and keeps a Neutral rating on the shares. Field work suggests "continued volatility" on fundamentals with pricing/packaging changes, sales turnover and early renewal activity, Zukin tells investors in a research note. The analyst prefers to wait on the sidelines with respect to the shares pending "clear evidence of improving fundamentals."
10/01/18
OPCO
10/01/18
UPGRADE
OPCO
Outperform
LogMeln upgraded to Outperform from Perform at Oppenheimer
10/01/18
10/01/18
UPGRADE
Target $105

Outperform
LogMeln upgraded to Outperform on stabilizing concerns at Oppenheimer
As previously reported, Oppenheimer analyst Shaul Eyal upgraded LogMeIn to Outperform from Perform, with a $105 price target. In light of a soft 1H18 performance, the analyst views the company's recent retention concerns as gradually stabilizing per his industry checks. Further, he believes LogMeIn's position in the highly competitive UCaas and Enterprise Collaboration arenas is largely intact despite the recent emergence of newcomers.
10/01/18
10/01/18
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. UPS (UPS) upgraded to Outperform from Market Perform at BMO Capital with analyst Fadi Chamoun saying his meetings with institutional investors give him a more constructive outlook as the company proceeds with efforts to "add capacity across its network, implement automation," and (perform) other cost efficiency initiatives with medium-term benefits. 2. LogMeln (LOGM) upgraded to Outperform from Perform at Oppenheimer analyst Shaul Eyal saying in light of a soft 1H18 performance, the analyst views the company's recent retention concerns as gradually stabilizing per his industry checks. 3. Noble Corp. (NE) upgraded to Neutral from Underweight at Piper Jaffray with analyst Ian Macpherson saying he views the stock's risk/reward as balanced at current share levels. 4. Biogen (BIIB) assumed with an Overweight from Neutral at Cantor Fitzgerald. 5. Teva (TEVA) upgraded to Conviction Buy from Buy at Goldman Sachs and to Market Perform from Underperform at Leerink. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
EXPE Expedia
$117.57

3.37 (2.95%)

10/15/18
EVER
10/15/18
INITIATION
EVER
In Line
TripAdvisor initiated with an In Line at Evercore ISI
Evercore ISI analyst Anthony DiClemente initiated coverage of the online travel sector with a mixed outlook, starting TripAdvisor (TRIP) with an In Line rating. While the offline to online shift may have slowed, the travel market itself remains fragmented, leaving open the opportunity for share gains, said DiClemente, who calls Expedia (EXPE) his top pick in the space.
10/24/18
FBCO
10/24/18
NO CHANGE
Target $150
FBCO
Outperform
Expedia price target lowered to $150 from $160 at Credit Suisse
Credit Suisse analyst Stephen Ju lowered his price target for Expedia to $150 from $160 ahead of quarterly results and decreased his expectations for trivago for 2019 as he elects to model in a conservative scenario for deteriorating spend from Booking. The analyst reiterates an Outperform rating on the shares given potential marketing leverage and ensuing operating margin improvement due to rising conversion on improved shopping experience, incremental gross booking and free cash flow dollars from HomeAway as Expedia continues to take down friction, and optionality for faster product innovation following full transition to cloud.
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.
10/15/18
EVER
10/15/18
INITIATION
EVER
Outperform
Expedia initiated with an Outperform at Evercore ISI
Evercore ISI analyst Anthony DiClemente initiated coverage of the online travel sector with a mixed outlook, naming Expedia (EXPE) his top pick with an Outperform rating. He believes that Expedia's mix of aggressive property expansion, potentially superior profitability growth after its current investment cycle, its ownership of HomeAway, and relatively attractive valuation make it the most compelling investment in online travel, DiClemente tells investors.
SAM Boston Beer
$270.51

-8.8 (-3.15%)

07/27/18
RBCM
07/27/18
NO CHANGE
Target $210
RBCM
Sector Perform
Boston Beer price target raised to $210 from $181 at RBC Capital
RBC Capital analyst Nik Modi raised his price target on Boston Beer to $210 after the company's Q2 results. Modi states that despite the very strong volume reported in the quarter, the stock's aftermarket 16% selloff was driven by the revised gross margin guidance coming from the higher commodity and logistics costs. The analyst also keeps his Sector Perform rating on Boston Beer, adding that although he has a bullish outlook on craft beer industry, he sees the company losing market share from its "fewer incremental innovations and declining cider category".
09/13/18
GUGG
09/13/18
INITIATION
GUGG
Buy
Boston Beer initiated with a Buy at Guggenheim
07/25/18
07/25/18
DOWNGRADE

Underperform
Boston Beer downgraded to Underperform on valuation at Macquarie
As previously reported, Macquarie downgraded Boston Beer to Underperform from Neutral as it believes the stock is overvalued. While the firm expects solid Q2 based on strong non-beer performance, beer should remain weak.
09/14/18
GUGG
09/14/18
INITIATION
Target $381
GUGG
Buy
Boston Beer initiated with a Buy on top-line growth at Guggenheim
Guggenheim analyst Laurent Grandet initiated Boston Beer with a Buy and $381 price target saying he expects FY19/FY20 growth 6%/8% above consensus driven by key innovations and a recovery from the Samuel Adams franchise.
NTGR Netgear
$56.20

1.2 (2.18%)

07/09/18
BWSF
07/09/18
NO CHANGE
Target $85
BWSF
Buy
Netgear price target raised to $85 from $75 at BWS Financial
BWS Financial analyst Hamed Khorsand raised his price target for Netgear to $85 fayer Arlo Technologies (ARLO) filed its initial S1 providing details on the operating structure of the business. Arlo is planning to sell up to 20% of the company and Netgear would follow up with a distribution of the remaining shares six months later, Khorsand tells investors in a research note. The analyst keeps a Buy rating on Netgear.
08/03/18
08/03/18
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. ALLERGAN UPGRADED TO BUY: Mizuho analyst Irina Koffler upgraded Allergan (AGN) to Buy from Neutral and raised her price target for the shares to $210 from $194. The analyst views Allergan's risk/reward more favorably following the company's "strong" beat and raise quarter and the delayed introduction of Restasis generics. Allergan is up 1.2% in late morning trading. NEEDHAM UPS TRIPADVISOR TO HOLD: Needham analyst Laura Martin upgraded TripAdvisor (TRIP) to Hold from Underperform, saying that while the company's pivot to competing as an online travel agent has failed, its focus to grow its non-hotel businesses is a "higher ROI idea". FLOOR & DECOR DOWNGRADED AT JPMORGAN, PIPER: JPMorgan analyst Christopher Horvers downgraded Floor & Decor (FND) to Neutral from Overweight and lowered his price target for the shares to $45 from $59. The "story shift" taking place is likely to keep the shares in "purgatory," Horvers said following the company's Q2 results. Piper Jaffray analyst Peter Keith also downgraded Floor & Decor to Neutral and lowered his price target for the shares to $39 from $58. The analyst admitted his June upgrade of the stock was wrong following Floor & Decor's Q2 miss and guide down. Floor & Decor is down 6.4% in late morning trading. LUNA CUT TO MARKET PERFORM AT NORTHLAND: Northland analyst Tim Savageaux downgraded Luna Innovations (LUNA) to Market Perform from Outperform as he sees the shares reflecting the value of the "well executed" sale of the Opto Solutions unit at current levels. CANACCORD INITIATES TESLA WITH A HOLD: Canaccord analyst Jed Dorsheimer initiated Tesla (TSLA) with a Hold rating as he sees several risks around the company's financing, cash burn, and general maturity in the industry. Catalysts that could de-risk the shares include shifts in corporate governance, consistent production, and "a CEO who is not working 120 hours per week to hold things together," said Dorsheimer, who set a $336 price target on Tesla shares. BWS SAYS ARLO IPO ESTABLISHES VALUATION CASE FOR NETGEAR: BWS Financial analyst Hamed Khorsand said the pricing of Arlo Technologies' (ARLO) IPO establishes a valuation case for Netgear (NTGR). The analyst believes the IPO pricing gives some context to what Netgear's stake is worth and affirms his sum-of-parts reasoning for owning Netgear shares. He kept a Buy rating on the stock with a $64.50 price target.
09/05/18
RAJA
09/05/18
INITIATION
Target $80
RAJA
Outperform
Netgear resumed with an Outperform at Raymond James
Raymond James analyst Adam Tindle resumed coverage on Netgear with an Outperform and $80 price target citing the company's strong market position, improving operating efficiencies following the Arlo split, margin expansion, and growing cash flow.
08/03/18
BWSF
08/03/18
NO CHANGE
Target $64.5
BWSF
Strong Buy
Arlo IPO price establishes valuation case for Netgear, says BWS Financial
BWS Financial analyst Hamed Khorsand says the pricing of Arlo Technologies' (ARLO) initial public offering establishes a valuation case for Netgear (NTGR). The analyst believes the IPO pricing gives some context to what Netgear's stake is worth and affirms his sum-of-parts reasoning for owning the shares. Spinning off Arlo is a value creating event, but Netgear's stock continues to trade at a discount, Khorsand tells investors in a research note. He keeps a Buy rating on the stock with a $64.50 price target.
CMG Chipotle
$423.90

10.29 (2.49%)

10/24/18
LOOP
10/24/18
INITIATION
LOOP
Buy
Chipotle initiated with a Buy at Loop Capital
Loop Capital analyst Lynne Collier initiated Chipotle with a Buy rating and $500 price target. The analyst sees "multiple paths to accelerating same-store sales and margin expansion over the next 12-24 months" under new CEO Brian Niccol, and believes this is the "early innings" of a multi-year turnaround.
10/23/18
10/23/18
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. Viacom (VIA, VIAB) upgraded to In-Line from Underperform at Imperial Capital with analyst David Miller saying there is a "palpable rotation at work in the financial markets away from growth and into value within the Media sector." 2. Synopsys (SNPS) and Cadence Design (CDNS) were upgraded to Neutral from Underweight at JPMorgan. 3. Polaris Industries (PII) upgraded to Buy from Neutral at B. Riley FBR with analyst Eric Wold saying he views yesterday's Q3 results as "solid" and believes the recent stock pullback discounts the risk of tariffs. 4. AMD (AMD) upgraded to Equal Weight from Underweight at Barclays while NXP Semiconductors (NXPI) was upgraded to Overweight from Equal Weight. 5. Chipotle (CMG) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson saying the company is in an "enviable position" given its nearly all-U.S. exposure and lack of interest rate risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/23/18
MAXM
10/23/18
UPGRADE
Target $510
MAXM
Buy
Chipotle upgraded to Buy at Maxim on impact of initiatives
As reported earlier, Maxim analyst Stephen Anderson upgraded Chipotle to Buy from Hold and raised his price target to $510 from $500 ahead of its Q3 results on Thursday. The analyst says the company is in an "enviable position" given its nearly all-U.S. exposure and lack of interest rate risk. Anderson raises his Q3 EPS view by 2c to $2.35 to reflect the easy comps expected in the quarter and also raises his FY18 EPS view by 3c to $13.55 based on his expected impact from "top-line initiatives, efficiency gains, and benign food costs contributing to strong earnings upside".
10/23/18
MAXM
10/23/18
UPGRADE
MAXM
Buy
Chipotle upgraded to Buy from Hold at Maxim
CY Cypress Semiconductor
$12.09

0.33 (2.81%)

10/04/18
10/04/18
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. Cypress Semiconductor (CY) initiated with a Buy at MKM Partners. 2. Orion Engineered (OEC) initiated with a Buy at Loop Capital. 3. PGT Innovations (PGTI) initiated with a Buy at Jefferies and an Outperform at Wells Fargo. 4. Mercury Systems (MRCY) initiated with a Buy at Canaccord. 5. HubSpot (HUBS) initiated with a Buy at Rosenblatt. 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
MSCO
10/16/18
NO CHANGE
MSCO
Semi fundamentals look worse today than in 2015 down cycle, says Morgan Stanley
Morgan Stanley analyst Craig Hettenbach noted that the selloff in semiconductor stocks has been "swift and painful" and could be getting overdone near-term, though he worries the group is "by no means out of the woods" given his view that semi fundamentals today are worse than they were in the 2015 down cycle. Specifically, Hettenbach points to the degree of excess that built up in the supply chain this time, stating that the increase in lead times, double ordering, and inventory accumulation is markedly different to the period that preceded the last time there were broad-based semi estimate cuts in the second half of 2015. Semi sector estimates have only just recently started to come down and there are growing investor expectations that companies will guide Q4 revenue at least a few percent below the Street, added Hettenbach, who said the "upcoming earnings season will be the big test."
10/04/18
MKMP
10/04/18
INITIATION
Target $20
MKMP
Buy
Cypress Semiconductor initiated with a Buy at MKM Partners
As reported earlier, MKM Partners analyst Ruben Roy initiated Cypress Semi with a Buy rating and and a price target of $20. The analyst says that the company has recently "redefined itself" with a sharper focus on strategic growth, as the management looks to leverage its intellectual property with new high-growth potential investments. Roy also notes that the recent weakness in the stock reflecting lower expectations for Cypress Semi's NOR flash business is unfounded, as the NOR business will likely be protected from the average selling price swings in 2019 given its higher exposure to high-value auto and industrial end market industries. The analyst further states that the company's focus on higher value end markets can boost its gross margins above 50% from 46.3% reported in Q2, adding that the risk-reward on Cypress Semi is favorable at 9.8-times expected forward earnings multiple vs. 17.0-times for the broader semiconductor peer group average multiple.
10/22/18
ROTH
10/22/18
NO CHANGE
Target $18
ROTH
Buy
Cypress Semiconductor price target lowered to $18 from $22 at Roth Capital
Roth Capital analyst Suji Desilva believes Cypress Semiconductor is on track for better than seasonal Q3 revenue growth and thinks its margin recovery progress remains intact. However, Desilva lowered his price target on Cypress to $18 from $22 to reflect broader semiconductor stock weakness. The analyst keeps a Buy rating on Cypress shares, stating that the recent pullback presents an attractive entry point.
INTC Intel
$44.31

1.89 (4.46%)

10/25/18
MZHO
10/25/18
NO CHANGE
Target $33
MZHO
Buy
Mizuho a buyer of AMD on today's post-earnings selloff
Mizuho analyst Vijay Rakesh is a buyer of AMD (AMD) on the selloff today following last night's results. The chipmaker reported an in-line September quarter and guided its December quarter "modestly below consensus," Rakesh tells investors in a research note. While he sees GPU inventory declining, the analyst believes AMD's server market share trajectory should be a "key driver" into 2019 with 7nm EPYC already widely sampling 12 months ahead of Intel (INTC). Rakesh keeps a Buy rating on AMD and trimmed his price target to $33. The stock in premarket trading is down 18%, or $4.14, to $18.65.
10/23/18
LEHM
10/23/18
UPGRADE
Target $25
LEHM
Equal Weight
AMD ready to put pressure on Intel, Barclays says in upgrade to Equal Weight
Barclays analyst Blayne Curtis upgraded AMD (AMD) to Equal Weight from Underweight with an unchanged price target of $25. The chipmaker closed yesterday up 6%, or $1.37, to $25.03. The analyst is using the recent pullback in AMD shares to upgrade the stock while he reiterates an Underweight rating on Intel (INTC). Curtis, who admits to being surprised by how much credit AMD got this year, says the company is "ready to put pressure on Intel." Heading into 2019, the "competitive pressure should get very real," Curtis tells investors in a research note. The analyst is "surprised by the notion that Intel delivering 10nm client products in 2019 on schedule is now a positive and would highlight that it still does nothing to help Intel navigate a 12-18 month gap in servers."
10/22/18
BFIN
10/22/18
NO CHANGE
BFIN
Intel has resolved 10nm process issues, says BlueFin
BlueFin's checks with suppliers indicates Intel has resolved their 10nm process issues.
10/25/18
JEFF
10/25/18
NO CHANGE
Target $30
JEFF
Buy
Jefferies finds positives in AMD results, calls selloff an overreaction
Jefferies analyst Mark Lipacis says that while AMD's (AMD) Q3 earnings beat by 1c due to better margins, its Q4 outlook missed expectations due to excess GPU channel inventories. On the positive side, it appears AMD will ship a 7nm server microprocessor units "well ahead" of Intel (INTC), as well as a 7nm data center GPU "well ahead" of Nvidia (NVDA), Lipacis tells investors in a post-earnings research note titled "4Q GPU Disappointment, but Share Gain and GM expansion Story Intact." The analyst expects this will translate to share gains and continued gross margin expansion for AMD. While he lowered his estimates, and dropped his price target for the shares to $30 from $36, Lipacis views the post-earnings selloff as an overreaction. He's a buyer on weakness and keeps a Buy rating on AMD. The chipmaker in premarket trading is down 20%, or $4.54, to $18.25.
MAT Mattel
$13.84

0.4 (2.98%)

08/13/18
08/13/18
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. Crinetics (CRNX) was initiated with an Outperform at Leerink, an Overweight at Piper Jaffray, and a Neutral at JPMorgan. 2. Hasbro (HAS) was initiated with an Overweight at Consumer Edge while Mattel (MAT) initiated with an Equal Weight. 3. Allakos (ALLK) initiated with an Outperform at William Blair, a Buy at Jefferies, and a Neutral at Goldman Sachs. 4. Constellation Pharmaceuticals (CNST) was initiated with an Overweight at JPMorgan as well as an Outperform at BMO Capital and Oppenheimer. 5. Rubius Therapeutics (RUBY) initiated with an Outperform at Leerink, an Overweight at JPMorgan and Morgan Stanley, as well as a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/27/18
07/27/18
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. Chesapeake (CHK) upgraded to Neutral from Underperform at BofA/Merrill with analyst Doug Leggate saying the $2B Utica asset sale and positive Powder River update closes out his negative view. 2. Mattel (MAT) upgraded to Neutral from Underperform at DA Davidson with analyst Linda Bolton Weiser saying while the company underperformed in Q2 as she expected due to the hard 2017 comparisons driven by last year's Cars 3 release and the impact from Toys R Us liquidation, investor belief that the company could be sold is supporting the stock. 3. Patterson-UTI (PTEN) upgraded to Outperform from Neutral at Credit Suisse and to Buy from Neutral at Seaport Global. 4. NXP Semiconductors (NXPI) upgraded to Buy from Hold at SunTrust, Deutsche Bank, and Jefferies, to Buy from Neutral at Mizuho, and to Outperform from Market Perform at Bernstein. 5. Mondelez (MDLZ) upgraded to Buy from Hold at DZ Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
08/13/18
CEDG
08/13/18
INITIATION
CEDG
Equal Weight
Mattel initiated with an Equal Weight at Consumer Edge
07/27/18
07/27/18
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. MATTEL UPGRADED ON TAKEOVER POSSIBILITY: DA Davidson analyst Linda Bolton Weiser upgraded Mattel (MAT) to Neutral from Underperform and raised her price target to $14 from $12. The analyst noted that while the company underperformed in Q2 as she expected, due to the hard 2017 comparisons driven by last year's Cars 3 release and the impact from the Toys R Us liquidation, investor belief that the company could be sold is supporting the stock. Weiser adds that as long as Ynon Kreiz is at the helm, Mattel's elevated valuation could persist. INTEL GETS MULTIPLE DOWNGRADES AFTER EARNINGS: Citi analyst Christopher Danely downgraded Intel (INTC) to Neutral from Buy and lowered his price target for the shares to $50 from $64. The analyst said he sees a "host of margin headwinds coming" and calls the company's rollout of 10 nanometer a "debacle." He believes Intel's valuation multiple will remain under pressure. BofA Merrill Lynch downgraded Intel to Neutral from Buy and lowered its price target to $56 from $62 following the Q2 report. Analyst Vivek Arya said shares will remain range bound given a deceleration in FY19 earnings growth, a competitive position that is becoming tougher with next-gen 10mn product delays, higher capex from insourcing memory, and potential gross margin declines. Intel is down 8.4% in late morning trading. JPMORGAN DEFENDS SYNCHRONY: JPMorgan analyst Richard Shane believes Synchrony Financial (SYF) shares have been "substantially oversold" relative to the fundamental impact to the business from Walmart's (WMT) decision to go with Capital One (COF). The analyst reiterated an Overweight rating on Synchrony and recommended buying the stock at current levels. He estimated a $625M reduction of 2020 net income to common shareholders, or 17c per share in earnings. Shane lowered his price target for Synchrony to $39 from $41 as a result. He believes, however, that the stock will continue to trade at a discount to these levels until there is more clarity about a strategic outcome. AMAZON PRICE TARGET RAISED AT MULTIPLE FIRMS: After reporting its Q2 results, Amazon (AMZN) saw its price target raised by multiple analysts, including by Deutsche Bank analyst Lloyd Walmsley, who raised his price target for Amazon.com to $2,300. He said last night's Q2 results beat his expectations "almost across the board," and added that Amazon remains his top pick among the large cap Internet names. The analyst kept a Buy rating on the shares. Amazon shares are 1.4% higher to about $1,834 in late morning trading.
MLNX Mellanox
$72.65

6.83 (10.38%)

10/25/18
JPMS
10/25/18
UPGRADE
Target $100
JPMS
Overweight
Mellanox upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Harlan Sur upgraded Mellanox Technologies to Overweight and raised his price target for the shares to $100 from $98. The analyst views yesterday's Q3 results and guidance as "strong."
10/25/18
LOOP
10/25/18
NO CHANGE
Target $125
LOOP
Buy
Mellanox to further benefit from high-speed ethernet adoption, says Loop Capital
Loop Capital analyst James Kisner kept his Buy rating and $125 price target on Mellanox after its "solid" Q3 results and above-consensus Q4 guidance. The analyst notes that the anticipated weakness in hyperscale spending materialized, but adds that he was impressed with the company's ability to offset that with "strength in InfiniBand". Kisner expects Mellanox to "continue to benefit from the adoption of its high-speed Ethernet network interface cards and switches by hyperscale Internet/Web 2.0 companies".
10/25/18
JPMS
10/25/18
UPGRADE
Target $100
JPMS
Overweight
JPMorgan sees 'material' upside in Mellanox, upgrades to Overweight
JPMorgan analyst Harlan Sur upgraded Mellanox Technologies to Overweight from Neutral and raised his price target for the shares to $100 from $98. The company reported continued strength in cloud networking server connectivity as its Ethernet business grew 12% quarter-over-quarter and 59% year-over-year, Sur tells investors in a post-earnings research note. The analyst sees "material" upside in the shares following the recent pullback. He believes cloud datacenter networking spending trends will continue to be solid over the next few years.
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).
FLEX Flex
$10.91

0.02 (0.18%)

04/27/18
SBSH
04/27/18
NO CHANGE
Target $16
SBSH
Buy
Flex earnings selloff brings buying opportunity, says Citi
Flex's (FLEX) March quarter results were filled with several items that will be viewed by investors as bad news, including a delay in profitability ramp from Nike (NKE) and an unrelated accounting investigation resulting in the stock trading down 15% after hours, Citi analyst Jim Suva tells investors in a research note. The analyst believes the stock pressure is warranted following the 25% gain last year, but does not think these items are a "structural flaw to the company's operations or cash flows." As such, Suva views today's stock pullback as a buying opportunity. The Nike issue should be fully resolved within six months and the accounting investigation appears limited, he argues. The analyst lowered his price target for Flex to $16 from $20 and keeps a Buy rating on the name.
04/27/18
04/27/18
DOWNGRADE

Market Perform
Flex downgraded to Market Perform, growth pushed out at Raymond James
As previously reported, Raymond James downgraded Flex two notches to Market Perform from Strong Buy following Q4 results. Analyst Adam Tindle said the outsized profit growth he expected in FY19 appears to be back half weighted, at best. Tindle would wait for better visibility into CEC growth, profitability with Nike, and improved utilization in broader CTG before becoming constructive on shares.
05/11/18
UBSW
05/11/18
NO CHANGE
Target $18
UBSW
Buy
Flex near-term may be pressured but long-term better, says UBS
UBS analyst Steven Milunovich said Flex boosted its capital expenditure guidance, which may pressure the shares in the near-term as the company ramps up its investment. The analyst noted bookings were strong across the board and guidance was unchanged, giving him confidence in the longer-term outlook for the shares. Milunovich reiterated his Buy rating and $18 price target on Flex shares.
06/18/18
STPT
06/18/18
UPGRADE
STPT
Buy
Flex upgraded to Buy from Hold at Standpoint Research
MHK Mohawk
$150.92

3.48 (2.36%)

10/17/18
FBCO
10/17/18
NO CHANGE
Target $180
FBCO
Outperform
Mohawk price target lowered to $180 from $220 at Credit Suisse
Credit Suisse analyst Susan Maklari lowered her price target for Mohawk to $180 from $220 to reflect the impact of ongoing inflation as well as startup costs associated with the ramp of its new capacity. The analyst continues to believe Mohawk is well positioned for long-term growth given its expansion into faster-growing product categories, success in its global consolidation efforts, and continuous operational improvements. Maklari reiterates an Outperform rating on the shares.
10/16/18
LOOP
10/16/18
NO CHANGE
Target $165
LOOP
Hold
Mohawk price target lowered to $165 from $193 at Loop Capital
Loop Capital analyst Laura Champine lowered her price target on Mohawk to $165 and kept her Hold rating ahead of its Q3 results, saying its margin pressures have likely worsened as further raw material and transportation inflation continues to build. The analyst also notes that after a 40% year-to-date decline in Mohawk shares, the stock's current valuation "seems fair" based on the sector's late stage of recovery and margin headwinds.
10/15/18
RBCM
10/15/18
DOWNGRADE
RBCM
Sector Perform
Mohawk downgraded to Sector Perform from Outperform at RBC Capital
10/15/18
RBCM
10/15/18
DOWNGRADE
Target $190
RBCM
Sector Perform
Mohawk downgraded to Sector Perform RBC Capital on margin risk
As reported earlier, RBC Capital analyst Michael Dahl downgraded Mohawk to Sector Perform from Outperform and lowered his price target to $190 from $221. The analyst cites "incremental risk" to the company's Flooring North America margins over the coming quarters amid "accelerating cost headwinds", which may create some downside risk to consensus estimates. Dahl further points to Mohawk's carpet input costs accelerating through Q3 because of rising oil-based derivative prices and freight costs also remaining "elevated more broadly".
SGEN Seattle Genetics
$65.50

1.78 (2.79%)

10/01/18
PIPR
10/01/18
NO CHANGE
Target $71
PIPR
Neutral
Seattle Genetics positive data already priced into shares, says Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro believes the positive Phase III Echelon-2 trial announced this morning by Seattle Genetics "was fully baked into" the shares. The analyst remains comfortable with his Adcetris estimates pending the full data and keeps a Neutral rating on the shares with a $71 price target. The stock in early trading is up 3%, or $2.00, to $79.12.
09/26/18
JPMS
09/26/18
NO CHANGE
Target $85
JPMS
Overweight
Seattle Genetics price target raised to $85 from $77 at JPMorgan
JPMorgan analyst Cory Kasimov raised his price target for Seattle Genetics to $85 saying he's bullish on the potential success of ECHELON-2, which is expected to readout in Q4. The analyst, however, thinks expectations from investors are "relatively high." Nevertheless, another successful readout and material line extension for Adcetris could help maintain the stock's "impressive recent momentum," Kasimov tells investors in a research note. He keeps an Overweight rating on Seattle Genetics.
10/03/18
LEHM
10/03/18
NO CHANGE
Target $95
LEHM
Overweight
Seattle Genetics price target raised to $95 from $80 at Barclays
Barclays analyst Geoff Meacham raised his price target for Seattle Genetics to $95 saying this week's positive Adcetris E-2 data in frontline CD30-expressing peripheral T-cell lymphoma was another "win" for the company's core Adcetris franchise. The analyst thinks Adcetris is likely to capture his sixth indication and he keeps an Overweight rating on the shares. He we increased his Adcetris peak sales forecast by $550, representing 2022 product sales of $1.44B, above the consensus estimate of $1.31B.
10/02/18
RBCM
10/02/18
NO CHANGE
Target $98
RBCM
Outperform
Seattle Genetics price target raised to $98 from $90 at RBC Capital
RBC Capital analyst Kennen MacKay raised his price target on Seattle Genetics to $98 and kept his Outperform rating, saying its ECHELON-2 trial "exceeded best case scenario" with a "surprise" overall survival benefit. The analyst notes that the results were a "clean win with E-2's magnitude of PFS benefit", raising his probability of success for the program to 100% from 75%.
LSCC Lattice Semiconductor
$7.07

(0.00%)

09/04/18
SUSQ
09/04/18
NO CHANGE
SUSQ
Positive
Integrated Device top semiconductor takeout candidate, says Susquehanna
Susquehanna analyst Christopher Rolland updated his "Accretion Index," which is a framework for identifying top M&A candidates in the semiconductor space, in response to reports Japanese chipmaker Renesas Electronics (RNECY) is considering buying Integrated Device Technology (IDTI) for $6B. After matching the quantitative accretion metrics with his qualitative assessment of strategic value, his top takeout candidate is Integrated Device, followed by Lattice Semiconductor (LSCC), Mellanox (MLNX) and Cypress Semiconductor (CY).
08/28/18
FBCO
08/28/18
NO CHANGE
Target $13.5
FBCO
Neutral
AMD shares 'more fully valued than cheap,' says Credit Suisse
While the transition to TSMC (TSM) for all 7nm products is a positive for AMD (AMD) given TSMC's "successful record of leading-edge manufacturing," AMD does not expect the transition to impact its long-term financial model, Credit Suisse analyst John Pitzer told investors last night in a research note. Further, the transition could have a dampening near-term financial impact as AMD has pre-negotiated annual purchase targets with GF thru 2020 that requires AMD to make quarterly payments based on the volume of wafers purchased from other foundries, the analyst adds. He notes that the departure of Jim Anderson, who is leaving AMD to become the CEO of Lattice Semiconductor (LSCC), is the latest executive departure at the company. While AMD's intellectual property is "extremely valuable" and investors continue to underestimate accelerating compute demand across all architectures, the stock appears "more fully valued than cheap" at current levels, Pitzer writes. The analyst maintains a Neutral rating on AMD with a $13.50 price target. The chipmaker in early trading is up 41c to $25.67.
06/28/18
DOTC
06/28/18
INITIATION
Target $10
DOTC
Buy
Lattice Semiconductor initiated with a Buy at Dougherty
Dougherty analyst Charles Anderson initiated Lattice Semiconductor with a Buy and $10 price target.
PFPT Proofpoint
$98.98

1.41 (1.45%)

10/17/18
BARD
10/17/18
INITIATION
BARD
Outperform
Proofpoint assumed with an Outperform at Baird
Baird analyst Jonathan Ruykhaver assumed coverage on Proofpoint (PFPT) with an Outperform rating and $130 price target. The analyst calls the stock's valuation "compelling," noting that Proofpoint's email security solution is among the best-rated technologies from industry experts, and saying he has a very high regard for the executive team. Additionally, Ruykhaver views the threat of increased competition from established providers like Cisco (CSCO) and Symantec (SYMC) to be "muted."
10/01/18
DBAB
10/01/18
NO CHANGE
Target $125
DBAB
Buy
Proofpoint price target lowered to $125 from $140 at Deutsche Bank
Deutsche Bank analyst Gray Powell lowered his price target for Proofpoint to $125 saying channel checks left him "slightly more cautious" on the company and the email security space. On the positive side, contacts generally indicated that demand was at or above expectations, Powell tells investors in a research note. However, the analyst also picked up data points suggesting an uptick in competition, a slightly higher pace of discounting, and expectations for a moderation in growth in 2019. He sees some "yellow" flags following the checks but keeps a Buy rating on Proofpoint.
10/12/18
EVER
10/12/18
NO CHANGE
Target $135
EVER
Outperform
Evercore adds Proofpoint to Core Ideas List after 'overdone' selloff
Evercore ISI analyst Ken Talanian views the recent pullback in shares of Proofpoint as overdone and added the stock to his firm's SMID Core Ideas List. Proofpoint offers investors a "unique opportunity to participate in a high-quality subscription growth story that benefits from the broader move to the cloud," Talanian tells investors in a research note. He sees an attractive entry point after the 25% selloff from the July highs and keeps an Outperform rating on the name with a $135 price target.
AKS AK Steel
$4.22

0.085 (2.06%)

10/05/18
LBOW
10/05/18
NO CHANGE
Target $6
LBOW
Buy
AK Steel could trade 'solidly above $5,' says Longbow
Longbow analyst Chris Olin believes that AK Steel "could trade solidly above $5" per share as attention shifts toward a higher than expected floor for HRC spot market prices, commentary around 2019 steel contract values, stabilized or improved U.S. automotive production levels and Q4 EBITDA margin guidance. The analyst, who sees the most upside in AK Steel heading into the late-October reports compared to the other steel names he covers, keeps a Buy rating and $6 price target on the stock.
10/11/18
GHSC
10/11/18
INITIATION
Target $5
GHSC
Neutral
AK Steel initiated with a Neutral at Seaport Global
Seaport Global analyst Derek Hernandez initiated AK Steel with a Neutral and $5 price target. Hernandez is cautious on 2019 contracts surprising to the upside due to high backwardation in the forward price curve, which will limit upside.
10/15/18
FBCO
10/15/18
NO CHANGE
FBCO
Neutral
Credit Suisse downgrades U.S. Steel sector along with three stocks
Credit Suisse analyst Curt Woodworth downgraded his view on the U.S. Steel sector to Market Weight from Overweight due to concerns with new supply entering the sheet market as well as with U.S demand as interest rates rise. The analyst sees "limited potential for multiple expansion given late cycle fears." Further, in addition to cycle concerns and new supply risk, capital allocation by companies has disappointed relative to investors "wish lists," Woodworth tells investors in a research note. Along with the sector, the analyst downgraded Nucor (NUE), Steel Dynamics (STLD), and Cleveland-Cliffs (CLF) to Neutral from Outperform. Woodworth keeps Outperform ratings on US Steel (X) and AK Steel (AKS) as he sees upside to Street estimates on better 2019 contract pricing as well as more attractive valuations relative to historical forward multiples.
09/11/18
CLKS
09/11/18
UPGRADE
Target $6
CLKS
Buy
AK Steel upgraded to Buy on higher contract pricing at Clarksons Platou
As previously reported, Clarksons Platou upgraded AK Steel to Buy from Neutral and raised its price target to $6 from $5.50. Analyst Jeremy Sussman expects AK to disproportionally benefit versus peers when it comes to the signing of the upcoming 2019 annual auto contracts, given 2018 annual contracts are well below market.
ELLI Ellie Mae
$79.72

-0.13 (-0.16%)

07/27/18
ROTH
07/27/18
NO CHANGE
Target $100
ROTH
Neutral
Ellie Mae price target raised to $100 from $85 at Roth Capital
Roth Capital analyst Richard Baldry reiterated a Neutral rating on Elli Mae but raised his price target to $100 from $85 after the company reported "moderate" upside to Q2 EPS and revenue, but tells investors in a research note that the company's guidance left his Q3 revenue forecast cut. With weak Q2 active user adds, Baldry believes Elli Mae's valuation strength reflects broader SaaS sector strength rather than its execution.
10/10/18
ROTH
10/10/18
UPGRADE
Target $100
ROTH
Buy
Ellie Mae upgraded to Buy from Neutral at Roth Capital
Roth Capital analyst Richard Baldry upgraded Ellie Mae to Buy with an unchanged price target of $100. The 30% selloff in the shares since July 2017 has created a better risk/reward and improved entry point, Baldry tells investors in a research note. The analyst admits that higher interest rates and housing prices are likely to "inhibit" mortgage origination volume growth in the near-term. However, he believes "soft metrics" and "moderated" near-term earnings power are now well-reflected in Ellie Mae's valuation. Further, he believes the company's Q3 results could begin to bolster investor sentiment.
10/05/18
RBCM
10/05/18
NO CHANGE
Target $109
RBCM
Outperform
Ellie Mae price target lowered to $109 from $125 at RBC Capital
RBC Capital analyst Ross MacMillan lowered his price target on Ellie Mae to $109 and also lowered his FY19 EPS view to $2.18 from $2.59 and FY20 view to $2.78 from $3.44. The analyst cites "weaker loan volumes and lower net seat add assumptions" while he also sees "consistent revenue per loan growth". MacMillan keeps his Outperform rating on Ellie Mae however, pointing to its "intrinsic downside valuation support and recent share price underperformance". The analyst adds that his current forecasts anticipates the company returning to modest volume growth in the second half of 2019.
09/10/18
OPCO
09/10/18
NO CHANGE
Target $125
OPCO
Outperform
Sentiment around Ellie Mae 'overly' negative, set-up favorable, says Oppenheimer
Oppenheimer analyst Brian Schwartz sees an attractive stock set-up since Ellie Mae has recently become a "crowded short," and thinks odds look favorable for management to achieve and/or beat consensus estimates and raise the annual outlook in the Q3 results. Consistency in the reported results and/or a new CFO announcement could lower estimate risks and trigger a higher valuation, he adds. The analyst reiterates an Outperform rating and $125 price target on the shares.
WDC Western Digital
$54.00

1.71 (3.27%)

10/25/18
STFL
10/25/18
NO CHANGE
STFL
Hynix outlook should ease fears of extended memory downturn, says Stifel
SK Hynix in last night's Q3 earnings report saw a sequential increase in gross margin with slightly higher DRAM average selling prices quarter-over-quarter while NAND Flash selling prices s declined at roughly the same rate as in Q2, Stifel analyst Kevin Cassidy tells investors in a research note. Importantly, Hynix expects the current pricing pressure to have a short duration with customers decreasing NAND flash inventories by the end of 2018 and data center DRAM demand re-accelerating in mid-2019, says Cassidy. He believes the company's outlook and the "rational response" to the pricing environment should alleviate some market concerns about an extended downturn in the memory cycle. This benefits suppliers such as Micron Technology (MU), Smart Global Holdings (SGH) and Western Digital (WDC), Cassidy tells investors. Shares of Micron in early trading are up 49c to $35.92.
09/21/18
BNCH
09/21/18
NO CHANGE
Target $110
BNCH
Buy
Benchmark says NAND pricing expected to stabilize, keeps Western Digital at Buy
Benchmark analyst Mark Miller believes Western Digital shares have been pressured by NAND pricing declines, but he thinks NAND chip pricing is likely to stabilize. He also expects continued double digit growth in storage demand, leading him to maintain a Buy rating on the shares. However, Miller lowered his price target on Western Digital to $110 from $120.
10/01/18
MZHO
10/01/18
DOWNGRADE
Target $65
MZHO
Neutral
Western Digital downgraded to Neutral from Buy at Mizuho
Mizuho analyst Vijay Rakesh downgraded Western Digital (WDC) to Neutral and lowered his price target for the shares to $65 from $100. After a trip to Asia, the analyst believes NAND average selling prices will continue to decline at a low-double digit rate through Q1 of 2019 and at a high-single digit rate through 2019. The current consensus estimate for flat gross margins "could see significant downside," Rakesh tells investors in a research note. The analyst this morning also downgraded Lam Research (LRCX) to Neutral and lowered his price target for Micron Technology (MU) to $60. However, he remains positive on Micron shares citing the company's "more DRAM discipline," faster stabilization and its $10B share buyback.
10/01/18
RBCM
10/01/18
NO CHANGE
Target $68
RBCM
Western Digital price target lowered to $68 from $70 at RBC Capital
RBC Capital analyst Amit Daryanani lowered his price target on Western Digital (WDC) to $68 and kept his Sector Perform rating. The analyst contends that the ongoing CPU shortages at Intel (INTC) that were on display "minimally" last quarter will get even more magnified in the December quarter. Daryanani adds that while Intel's intentions to invest $1B to resolve capacity issues will address the issue by the first half of 2019, the company is also exposed to the risk of hyperscale customers adjusting their inventory and reducing purchases. The analyst lowers his FY18 EPS view on Western Digital to $9.88 from $9.99 and FY19 revenue view to $19.5B from $19.7B. Daryanani also lowers his price target on Seagate (STX) to $60 from $62 with a maintained Sector Perform rating, citing the same rationale.
SNAP Snap
$7.01

0.42 (6.37%)

10/23/18
COWN
10/23/18
NO CHANGE
Target $6
COWN
Underperform
Snap price target lowered to $6 from $8 at Cowen
Cowen analyst John Blackledge lowered his price target on Snap to $6 from $8 ahead of Q3 results. The analyst expects continued softness due to user declines and continued pricing pressure from the switch to the programmatic auction. The analyst cut his long-term forecast and thus his price target. Blackledge maintains his Underperform rating on Snap shares.
10/24/18
STFL
10/24/18
NO CHANGE
Target $9
STFL
Hold
Snap price target lowered to $9 from $15 at Stifel
Stifel analyst John Egbert tempered his near-term revenue expectations for Snap, citing his belief that many advertisers need to grow more comfortable with the platform. He lowered his 2019 revenue forecasts by 4% and his 2020 view by 3% to account for softer expected DAU growth and gradual advertiser adoption of its ad tools, which he views as "steadily improving." Ahead of the company's Q3 earnings report on Thursday, Egbert lowered his price target on Snap to $9 from $15 and keeps a Hold rating on the shares.
10/23/18
RHCO
10/23/18
NO CHANGE
Target $8
RHCO
Hold
Snap price target lowered to $8 from $13 at SunTrust
SunTrust analyst Youssef Squali lowered his price target on Snap to $8 and kept his Hold rating ahead of its Q3 results which he expects to be mixed. The analyst cites the "lack of material momentum with advertisers and a user base, whose growth remains challenged". He adds that the anticipated ramp in Snap's monetization may also take longer as its Daily Active User rate of growth is seen remaining "muted". Squali further believes that the company's valuation at 5.4-times enterprise value to expected FY19 revenues is "full" as he also contends that CEO Spiegel's view of profitability in FY19 is too "optimistic".
10/23/18
OTRG
10/23/18
UPGRADE
OTRG
Positive
Snap upgraded to Positive from Mixed at OTR Global
OTR Global upgraded Snap to Positive following checks that indicate modest Q3 gains in social media budget share driven by improved engagement and access to robust creative inventory.
FSLR First Solar
$43.51

1.07 (2.52%)

10/25/18
10/25/18
UPGRADE

Hold
Vertical Group upgrades First Solar to Hold after pullback, ahead of results
As previously reported, Vertical Group analyst Gordon Johnson upgraded First Solar to Hold from Sell as he now believes the downside case seems fairly reflected following the stock's pullback since June. He also sees potential near-term upside catalysts that include a potential "blue wave" in the mid-term elections, Series 6 execution, and the possible sale of its Ishikawa project in Japan. Johnson recommends moving to the sideline ahead of today's after-market results, he concluded.
10/25/18
VERF
10/25/18
UPGRADE
VERF
Hold
First Solar upgraded to Hold from Sell at Vertical Group
10/17/18
JPMS
10/17/18
NO CHANGE
JPMS
JPMorgan constructive on some Alternative Energy names into Q3 results
JPMorgan analyst Paul Coster says he's constructive regarding a handful of Alternative Energy stocks heading into the Q3 earnings season. The analyst sees more attractive valuations after the recent selloff and names his top picks as First Solar (FSLR), TPI Composites (TPIC), Hannon Armstrong (HASI) and Bloom Energy (BE). First Solar remains "best-in-class" in the solar space, has good revenue and earnings visibility, and seems best-positioned to ride out the second half of 2018 panel downturn, Coster tells investors in a research note.
09/19/18
ROTH
09/19/18
NO CHANGE
ROTH
Buy
Tariff exemption a 'meaningful positive' for SunPower, Enphase, says Roth
Roth Capital analyst Philip Shen tells investors in a research note that SunPower's (SPWR) exclusion from the 30% Section 201 import tariffs for its IBC cells and modules is a "meaningful positive" for the company, as with the exclusion, SunPower appears to be the only company to serve the U.S. resi market with tariff-free modules imported from outside the U.S., except for First Solar (FSLR), which does not serve the resi market. In addition, Shen views the news as a meaningful positive for Enphase (ENPH) given its exclusive relationship with SunPower, and says Enphase could benefit from increased volumes ahead.
ARLO Arlo Technologies
$14.46

0.4 (2.85%)

10/01/18
IMPC
10/01/18
NO CHANGE
Target $39
IMPC
Outperform
Arlo Technologies value being underestimated by Street, says Imperial Capital
After meeting with management, Imperial Capital analyst Saliq Khan keeps an Outperform rating on shares of Arlo Technologies with a price target of $39, representing over 100% upside from current levels. The Street is underestimating the value of Arlo Technologies, Khan tells investors in a research. He believes the company's competitive landscape is not understood by investors and calls Arlo a "data rich company with a growing services base." Further, Khan thinks Arlo's ultimate outcome, in two-to-five from years from now, could be similar to that of Mobileye, which was acquired by Intel (INTC).
08/30/18
08/30/18
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. GUGGENHEIM UPGRADES ARLO TO BUY: Guggenheim upgraded Arlo Technologies (ARLO) to Buy from Neutral and maintained a $26 price target. Analyst Robert Cihra said the recent pullback in shares offers a compelling buying opportunity and the company has a meaningful runway to keep growing. Arlo shares are up 4% in late morning trading. JPMORGAN UPGRADES NUTANIX TO NEUTRAL: JPMorgan analyst Mark Murphy upgraded Nutanix (NTNX) to Neutral from Underweight and raised his price target for the shares to $54 from $39. The analyst's latest round of Nutanix checks and his latest VMware (VMW) survey suggest a "strong demand environment" for hyperconverged infrastructure. Nutanix is the leader in this space, Murphy said. He expects to see a "strong healthy quarter" from Nutanix, especially in terms of bookings. Murphy believes the stock offers a balanced risk/reward at current share levels. BERENBERG INITIATES PAYPAL WITH A BUY: Berenberg analyst Tammy Qiu started PayPal (PYPL) with a Buy rating and $104 price target. Innovators such as PayPal will remain competitive versus new entrants to the payments sector, Qiu said. The analyst views PayPal as a core holding in the payment and fintech space "because it is well positioned to enable financial inclusion via its wide product range." In addition, its two-sided platform, which serves merchants and consumers, makes it unique, Qiu contended. SALESFORCE DEFENDED AFTER EARNINGS, PRICE TARGET RAISED AT MULTIPLE FIRMS: Piper Jaffray analyst Alex Zukin raised his price target for Salesforce (CRM) to $180 from $165, saying the company posted a solid start to the year, with all metrics coming in ahead of consensus in spite of meaningful currency headwinds during the quarter. The analyst recommends using the post-earnings selloff as an opportunity to buy the shares. He sees near-term catalysts from Dreamforce and the company's analyst day, as well as a "strong" federal budget flush in Q3 and the "best IT spending environment in history." Zukin reiterated an Overweight rating on Salesforce shares. Additionally, Jefferies analyst John DiFucci raised his price target for Salesforce to $172 from $168 citing the company's "solid" Q2 results which he says exceeded expectations across the board. The print, however, was perhaps not as strong as the last two quarters, the analyst adds. While billings guidance implies further moderation of new subscription annual contract value in the second half of fiscal 2019, this likely reflects management's "typically prudent approach to guidance," DiFucci contends. He recommends buying Salesforce on any weakness today and keeps a Buy rating on the shares. Salesforce is off earlier lows, and is currently trading down 1.4%.
08/30/18
GUGG
08/30/18
UPGRADE
Target $26
GUGG
Buy
Arlo Technologies upgraded to Buy on valuation at Guggenheim
As previously reported, Guggenheim upgraded Arlo Technologies to Buy from Neutral and maintained a $26 price target. Analyst Robert Cihra said the recent pullback in shares offers a compelling buying opportunity and has a meaningful runway to keep growing.
08/30/18
08/30/18
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. Tilly's (TLYS) upgraded to Outperform from Market Perform at William Blair with analyst Sharon Zackfia citing improved comp momentum, easing upcoming comparisons against e-commerce issues in the fourth and first quarters, and increased conviction in the company's potential to grow the unit base from 226 sites today. 2. Arlo Technologies (ARLO) upgraded to Buy from Neutral at Guggenheim with analyst Robert Cihra saying the recent pullback in shares offers a compelling buying opportunity and has a meaningful runway to keep growing. 3. Altra Industrial Motion (AIMC) upgraded to Buy from Neutral at Sidoti and to Overweight from Sector Weight at KeyBanc. 4. Genesco (GCO) upgraded to Buy from Hold at Pivotal Research with analyst Mitch Kummetz saying the stock's risk/reward looks more favorable following the company's "strong" Q2 results and the continuation of favorable back-to-school trends into Q3. 5. HD Supply (HDS) upgraded to Buy from Neutral at Northcoast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
AMZN Amazon.com
$1,780.00

115.8 (6.96%)

10/25/18
WEDB
10/25/18
NO CHANGE
Target $140
WEDB
Outperform
Microsoft momentum continues after another cloud beat, says Wedbush
Wedbush analyst Daniel Ives notes Microsoft (MSFT) delivered another "robust" quarter. The company exceeded expectations on nearly every metric across the board with no soft spots. Redmond is still in the early innings of benefiting from a transformational secular cloud shift in this two-horse race with Amazon (AMZN) as more enterprises around the world head down the cloud path. Ives is bullish on Microsoft into 2019 given his thesis on Azure's cloud momentum is still in its early days of playing out with the company's massive installed base, Office 365 transition on consumer/enterprise providing growth tailwinds for the next 12-18 months at least, and newer integrated product initiatives around consumers and cloud services are still playing out within Redmond's ubiquitous installed base of consumers and enterprises worldwide. He reiterates an Outperform rating and $140 price target on Microsoft shares.
10/23/18
KEYB
10/23/18
NO CHANGE
KEYB
Sector Weight
Q3 should be a 'solid' quarter for Amazon, says KeyBanc
KeyBanc analyst Edward Yruma believes Q3 should be a "solid" quarter for Amazon. Comparisons have gotten a bit tougher since Amazon is now cycling the Whole Foods acquisition and Q2 likely received some benefit from a late spring, he contends. Similar to 1H, the analyst thinks advertising likely remained a driver to margin. For AWS, Yruma remains confident that revenue is poised to double to $46B by 2020. He reiterates a Sector Weight rating on the shares.
10/23/18
JEFF
10/23/18
NO CHANGE
Target $2260
JEFF
Buy
Amazon.com price target lowered to $2,260 from $2,350 at Jefferies
Jefferies analyst Brent Thill lowered his price target for Amazon.com to $2,260 from $2,350 after "taking a stab at" quantifying the impact from the company's minimum wage hike and a proposed U.S. Postal rate increase for 2019. The analyst says he tried to keep his estimates "on the conservative side" given the "limited visibility into many of the variables involved." With that said, Thill concluded that the cumulative impact should be close to $2.2B in 2019 and represent ~1% of Amazon's combined cost of goods sold and operating expenses for the year. He keeps a Buy rating on Amazon.
10/23/18
WEDB
10/23/18
NO CHANGE
Target $140
WEDB
Outperform
Shift to cloud 'significantly' benefiting Microsoft, says Wedbush
Wedbush analyst Daniel Ives notes Microsoft (MSFT) will be reporting its Q1 results this week and expects Nadella & Co. to post another solid beat on both the top and bottom line as cloud strength on Azure and Office 365 continues to be the fuel in the tank, with strong field checks indicating the company could beat commercial cloud expectations by 3%-5%. While the massive secular shift to the cloud is a "two horse race" between Amazon (AMZN) and Microsoft, the analyst is seeing a clear inflection point in the field as more enterprises and government agencies make this transformational move to a hybrid cloud architecture with Redmond making a major partner push on the SMB front. Ives believes the shift to cloud is a major secular trend that is "significantly" benefiting Microsoft in the field as a key tailwind and should continue its momentum heading into FY2019. Ives reiterates an Outperform rating and $140 price target on Microsoft's shares.
POWI Power Integrations
$54.34

0.77 (1.44%)

09/12/18
STFL
09/12/18
DOWNGRADE
STFL
Hold
Power Integrations downgraded to Hold from Buy at Stifel
09/12/18
STFL
09/12/18
DOWNGRADE
Target $75
STFL
Hold
Power Integrations downgraded to Hold on peak cycle concerns at Stifel
As previously reported, Stifel analyst Tore Svanberg downgraded Power Integrations to Hold from Buy, arguing that multiple recent industry data points seem to suggest the analog and mixed-signal semiconductor markets are peaking. While he contends that Power "maintains a pristine balance sheet," he thinks its broad revenue base leave it more vulnerable to a cyclical slowdown, Svanberg tells investors. He also has concerns about tariff-related uncertainties, as he thinks the company was likely one of the first to be impacted by early rounds of tariffs on consumer appliances. Svanberg lowered his price target on Power Integrations shares to $75 from $85.
09/12/18
09/12/18
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. GOLDMAN CUTS MICRON TO NEUTRAL: Goldman Sachs analyst Mark Delaney downgraded Micron Technology (MU) to Neutral from Buy and lowered his price target for the shares to $50 from $68. The analyst, who is not making a call on the upcoming fiscal Q4 results on September 20, sees weaker fundamentals for DRAM and NAND in calendar Q4 and the first half of 2019. Delaney expects Micron's gross margin to decline sequentially from Q4 of 2018 through mid-2019, and he notes that the stock is historically well correlated with the company's gross margin. His view of margin declines is due to lower memory average selling prices, both from more "challenging" DRAM conditions and also NAND oversupply. Micron is down 5.8% in late morning trading. GOLDMAN CUTS LAM RESEARCH TO NEUTRAL: Goldman Sachs analyst Toshiya Hari downgraded Lam Research (LRCX) to Neutral and lowered his price target for the shares to $180 from $224. The analyst also lowered his coverage view on the Semiconductor Capital Equipment space to Neutral from Attractive. Hari reduced his 2018/2019 memory capex expectations following "early signs of excess supply" in DRAM combined with further weakness in NAND pricing. STIFEL CUTS NXP SEMI, OTHER SEMI COS: Stifel analyst Tore Svanberg downgraded NXP Semiconductors (NXPI) to Sell from Hold, arguing that multiple recent industry data points seem to suggest the analog and mixed-signal semiconductor markets are peaking. He is particularly concerned, given the peaking industry condition, that rising interest rates raise the risk for debt-heavy firms, he added. Svanberg cut his price target on NXP shares to $84 from $99. Svanberg also downgraded Macom (MTSI) to Sell, and Power Integrations (POWI) and Maxim Integrated (MXIM) to Hold. ANALYSTS NEGATIVE ON SNAP: BTIG analyst Richard Greenfield downgraded Snap (SNAP) to Sell from Neutral with a price target of $5, saying his previous assumption that "communications apps were sticky and would protect engagement" was incorrect. The analyst notes that while he waited for "management to figure out monetization", the stock has lost over half of its value. Greenfield believes that the pain is likely not over, stating that he is now "tired" of the company's excuses for missing numbers and adding that the anticipated product innovation ability of CEO Spiegel has been disappointing. Additionally, Citi analyst Mark May lowered his price target for Snap to $8 after removing his takeover premium assumption. The analyst had assumed a 50% probability of a takeout at a 35% premium to his fundamental value of $8 per share. However, he now sees less likelihood of a near-term takeover due to Snap's recent operational challenges. The analyst kept a Sell rating on the shares.
10/18/18
STFL
10/18/18
NO CHANGE
STFL
Stifel lowers analog and IoT semiconductor estimates on broad-based slowdown
Stifel analyst Tore Svanberg said he expects Q3 to come in essentially in line with expectations for analog and IoT semiconductor companies, but sees their Q4 outlooks being impacted by a potential supply-chain correction or slower end-market growth. He now believes 2019 will now be a down year, projecting a 2%-4% contraction, and sees companies aligned with strong secular growth stories as poised to outperform their peers. Svanberg identifies Monolithic Power (MPWR), Silicon Labs (SLAB), Semtech (SMTC) and Quantenna (QTNA) as among the companies he sees being aligned with strong secular growth stories. In conjunction with the sector preview, Svanberg lowered his price targets on Monolithic Power, Silicon Labs, Alpha & Omega (AOSL), Macom (MTSI), Maxim Integrated (MXIM), MaxLinear (MXL), NXP Semiconductors (NXPI), O2Micro (OIIM), Power Integrations (POWI) and Texas Instruments (TXN).
GOOG Alphabet
$1,098.63

48.87 (4.66%)

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.
10/17/18
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.
10/23/18
DBAB
10/23/18
NO CHANGE
Target $1375
DBAB
Buy
Alphabet price target raised to $1,375 from $1,350 at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley raised his price target for Alphabet to $1,375 ahead of the company's Q3 results and keeps a Buy rating on the shares. A continued recovery at YouTube and strength in mobile should drive Google Sites revenue growth excluding currency to 22.9%, "only a hair slower" than Q2 on "slightly harder comps," Walmsley tells investors in a research note. The analyst sees Alphabet reporting "solid" results and he keeps a Buy rating on the shares.
10/23/18
KEYB
10/23/18
NO CHANGE
KEYB
KeyBanc expecting 'strong' results from Facebook, Alphabet in Q3
KeyBanc analyst Andy Hargreaves expects "strong" results from Facebook (FB)/Alphabet (GOOGL) in the Q3, with a likelihood for in line results from Twitter (TWTR) and Criteo (CRTO). The analyst says checks suggest advertiser demand for Facebook and Google properties remained strong in Q3 despite regulatory concerns. This is in contrast to generally weak sentiment across the space, he notes, which makes the risk/reward on Facebook, Alphabet, and Criteo positive.
SYK Stryker
$165.36

2.07 (1.27%)

10/15/18
LEHM
10/15/18
INITIATION
LEHM
Overweight
Stryker initiated with an Overweight at Barclays
Barclays analyst Kristen Stewart initiated Stryker with an Overweight rating and $198 price target.
10/16/18
LEHM
10/16/18
INITIATION
LEHM
Barclays starts MedTech sector with Positive view
Barclays analyst Kristen Stewart last night initiated coverage of the MedTech sector with a Positive view. The analyst expects the MedTech market to grow 4%-5% "for the foreseeable future" and believes the recent increase in price-to-earnings multiples in the space is warranted given the improving fundamentals. Looking ahead, she thinks relative P/E multiples "should be at least maintained." Stewart initiated coverage on 12 stocks, with Overweight ratings on Abbott (ABT), Boston Scientific (BSX) Stryker (SYK) and Medtronic (MDT). The analyst put Underweight ratings on Baxter (BAX), Edwards Lifesciences (EW) and Zimmer Biomet (ZBH).
10/16/18
PIPR
10/16/18
NO CHANGE
PIPR
Piper Jaffray discusses derivatives from J&J's Q3 results
Piper Jaffray analyst Matt O'Brien notes that Johnson & Johnson's (JNJ) global Medical Devices segment grew 1.7% organically in Q3, with sales of $6.6B falling $50M short of the consensus. The large joint segment continues to look relatively stable, with low-single-digit pricing pressures as expected, O'Brien tells investors in a research note. The analyst suspects Stryker (SYK) will continue to take share away from J&J and Zimmer Biomet (ZBH) in Q3. J&J's Spine segment was flat off of easy comps and after normalizing the Codman divestiture, the analyst adds. He continues to view J&J as a "share donor" to the pure-play spine names Globus Medical (GMED), NuVasive (NUVA) and SeaSpine (SPNE), with Globus' robot "continuing to provide share taking opportunities." Within Contact Lenses, J&J faced tough comps but reported a solid quarter in both the domestic and international markets, O'Brien says. He continues to see a "healthy" lens end market and one that is shifting to daily lenses from reusable, which he views as positive for Cooper Companies (COO). Further, the analyst notes that Diabetes continues to decelerate for J&J at a negative 20% clip given the Animas exit, which he thinks continues to be a positive for the pump names Insulet (PODD) and Tandem Diabetes (TNDM).
BOOT Boot Barn
$28.11

1.23 (4.58%)

10/09/18
WBLR
10/09/18
INITIATION
WBLR
Outperform
William Blair sees 30% earnings growth for Boot Barn, starts at Outperform
William Blair analyst Dylan Carden started Boot Barn Holdings with an Outperform rating. With limited threat of competition as it continues to roll up the industry and expand into new markets, Boot Barn benefits from being "broad and deep" in the "fragmented" Western and workwear industry, Carden tells investors in a research note. The analyst models annualized earnings growth of 30% to 2022 and sees upside to the stock's valuation multiples.
10/17/18
PIPR
10/17/18
NO CHANGE
Target $32
PIPR
Overweight
Boot Barn recent pullback a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Peter Keith says positive feedback from his firm's Farm & Ranch Retailer Survey, as well as recent channel work, suggests Boot Barn's industry business momentum picked up in fiscal Q2 and should carry into 2019. The analyst raised his price target for the shares to $32 from $30 and reiterates an Overweight rating on the name. He recommends using the 10% pullback since the September highs as a "healthy buying opportunity." Keith expects Boot Barn to report "solid" fiscal Q2 results and sees a "positive set-up" for the coming quarters.
10/23/18
COWN
10/23/18
NO CHANGE
Target $31
COWN
Outperform
Boot Barn weakness a buying opportunity, says Cowen
Cowen analyst Oliver Chen said the recent weakness in Boot Barn is a buying opportunity as he raised his estimates to the high end of guidance. He has confidence in the company's ability to generate comp growth above 10% given its initiative execution, relatively easy compares in Texas and digital, and a strong consumer backdrop. Chen reiterated his Outperform rating and $31 price target on Boot Barn shares.
10/11/18
JEFF
10/11/18
NO CHANGE
Target $32
JEFF
Buy
Boot Barn's private brand being underestimated by market, says Jefferies
Jefferies analyst Janine Stichter believes the market underestimates the potential of Boot Barn's private brand expansion, which she believes should allow margins to push past peak while attracting a broader audience. Work around the Miranda Lambert "Idyllwind" launch shows a highly positive response while macro indicators continue to track positively, boding well for Boot Barn's fundamentals, Stichter tells investors in a research note. She reiterates a Buy rating on the shares with a $32 price target.
CERN Cerner
$62.33

0.5 (0.81%)

10/10/18
PIPR
10/10/18
NO CHANGE
Target $71
PIPR
Overweight
Cerner win at Northwell Health is significant, says Piper Jaffray
Piper Jaffray analyst Sean Wieland says he learned at Cerner's (CERN) user group conference that Northwell Health, the largest health system in New York, will launch the company's Soarian revenue cycle product across its 23 inpatient facilities, beginning with Huntington Hospital in May. This win is significant for Cerner and proves the staying power of Soarian, Wieland tells investors in a research note. Further, Northwell uses Allscripts (MDRX) for its inpatient electronic health records, and losing this opportunity to Cerner "goes against the grain of Allscripts's strategy to bring all of their customers into one unified Allscripts platform," Wieland adds. He believes integration with Salesforce (CRM) provides Cerner with a strong competitive advantage and reiterates an Overweight rating on the shares with a $71 price target.
09/13/18
LEHM
09/13/18
INITIATION
Target $70
LEHM
Equal Weight
Cerner initiated with an Equal Weight at Barclays
Barclays analyst Steven Valiquette started Cerner with an Equal Weight rating and $70 price target.
08/16/18
CANT
08/16/18
NO CHANGE
CANT
Overweight
Cantor Fitzgerald backs 'positive' view of healthcare IT segment
Cantor Fitzgerald Steven Halper tells investors in a research note that he is maintaining a positive investment view of the healthcare IT segment, and believes demand for products and services in the sector will continue to drive long-term growth. Specifically, he continues to rate Cerner (CERN) and Evolent Health (EVH) Overweight, as both are "nicely" leveraged to population health, with Evolent mostly a pure play in the segment. Within managed care, Halper believes Overweight-rated UnitedHealth (UNH) remains well-positioned with its Optum segment.
09/13/18
LEHM
09/13/18
INITIATION
Target $370
LEHM
Overweight
Barclays sees favorable Medicare Advantage outlook, starts Humana at Overweight
Barclays analyst Steve Valiquette initiated coverage of Humana (HUM) with an Overweight rating and $370 price target. The fundamental Medicare Advantage outlook is the strongest it has been since pre-Affordable Care Act levels "thanks to a number of industry tailwinds brought about by the Republican administration," Valiquette tells investors in a research note. These include higher Medicare reimbursement, corporate tax reform, and 2019 health insurance fund suspension, the analyst says. He believes Humana will be able to deliver on its low-to-mid-teens annual adjusted earnings target through at least 2021. Valiquette this morning also initiated coverage of Cerner with an Equal Weight rating and $70 price target. The company's 7%-12% revenue growth outlook relies on the ramp-up of newer products, the analyst contends.
DFS Discover
$73.24

1.35 (1.88%)

10/02/18
JPMS
10/02/18
UPGRADE
Target $89
JPMS
Overweight
Discover upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Richard Shane upgraded Discover Financial (DFS) to Overweight and raised his price target for the shares to $89 from $81. The company appears on track to execute a "soft landing" as loan growth stabilizes, Shane tells investors in a research note. The analyst says credit has outperformed expectations while multiples in the Credit Card space have compressed. This creates a more attractive opportunity for investment, according to Shane. He also raised his price target for Overweight-rated Capital One (COF) to $113 from $109 and for Neutral-rated American Express (AXP) to $115 from $105.
10/01/18
WELS
10/01/18
NO CHANGE
Target $82
WELS
Market Perform
Discover price target raised to $82 from $76 at Wells Fargo
Wells Fargo analyst Donald Fandetti raised his price target for Discover to $82 from $76 ahead of quarterly results, citing lower provision expense as he projects Q3 NCO to come in slightly better than his estimate as well as lower assumed operating expenses. The analyst reiterates a Market Perform rating on the shares.
10/16/18
WBLR
10/16/18
NO CHANGE
WBLR
Outperform
Discover undervalued on 'misplaced' credit concerns, says William Blair
The credit concerns that have been weighing on Discover Financial Services' valuation multiple are "misplaced" considering the company's return on equity outlook, "stabilizing" credit trends and "very low" unemployment claims, William Blair analyst Robert Napoli tells investors in a research note. The analyst believes credit has been well controlled and that Discover has significant long-term growth opportunities in its core card and student loan businesses. He finds the stock undervalued and current levels and keeps an Outperform rating on the name.
10/02/18
10/02/18
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. Discover (DFS) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Shane saying the company appears on track to execute a "soft landing" as loan growth stabilizes. 2. At Home Group (HOME) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Fassler saying recent sales misses, tariff concerns, and macro data have created investor concerns and a "steep discount" in the shares relative to other growth retailers. 3. Nestle (NSRGY) upgraded to Buy from Hold at Jefferies with analyst Martin Deboo saying he's more bullish on the new CEO and the shares into the second half of the year. 4. Urban Outfitters (URBN) upgraded to Buy from Neutral at B. Riley FBR with analyst Susan Anderson saying she expects high consumer confidence to support strong same-store-sales for Urban and she views the shares as undervalued. 5. General Electric (GE) upgraded to Outperform from Sector Perform at RBC Capital with analyst Deane Dray saying he believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CENX Century Aluminum
$9.48

0.49 (5.45%)

10/02/18
DBAB
10/02/18
DOWNGRADE
Target $15
DBAB
Hold
Century Aluminum downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Century Aluminum to Hold and lowered his price target for the shares to $15 from $20. The analyst sees growing risks and reduced upside potential at current share levels.
10/02/18
10/02/18
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. GE UPGRADED AT RBC, WOLFE: RBC Capital analyst Deane Dray upgraded General Electric (GE) to Outperform from Sector Perform and raised his price target for the shares to $15 from $13. The analyst believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO. Additionally, GE was upgraded to Outperform from Peer Perform at Wolfe Research. DEUTSCHE SEES HEIGHTENED RISKS TO FACEBOOK ESTIMATES: After attending the first day of AdWeek, Deutsche Bank analyst Lloyd Walmsley sees heightened risk to the Q3, Q4 and 2019 consensus estimates for Facebook (FB). The analyst said he's starting to hear more cautious feedback and that Facebook seems on the defensive, particularly following last week's data breach disclosure. Walmsley, however, continues to view Facebook as attractively valued and kept a Buy rating on the shares with a $205 price target. JPMORGAN ADDS WEIGHT WATCHERS TO FOCUS LIST: JPMorgan analyst Christina Brathwaite added Weight Watchers (WTW) to her firm's America's Analyst Focus while keeping an Overweight rating on the shares with a $120 price target. The stock's 30% pullback from its peak on June 20 presents a "compelling entry point for investors who missed the stock's appreciation the first time around," Brathwaite said. Despite the post-earnings selloff, the analyst believes the Q2 print was actually indicative that Weight Watchers' growth story remains on track. Further, she believes the changes announced last week, including its new rewards program, as well as the company's Invite a Friend program, will help drive member recruitment and retention going forward. AMBEV DOUBLE DOWNGRADED BY UBS: UBS analyst Alan Alanis double downgraded Ambev (ABEV) to Sell from Buy and lowered his price target for the shares to R$17 from R$23. AmBev trades at a 25% higher valuation than parent company AB InBev (BUD), which is unwarranted, Alanis believes. He believes Ambev shares at current levels are more than pricing in the company's favorable outlook. Further, he expects consensus estimates to come down due to a tougher competitive environment, a "tepid" Brazilian economic recovery and currency headwinds. DEUTSCHE DOWNGRADES METAL STOCKS: Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20, stating that Century's margins could remain pressured for longer due to alumina supply disruptions. Meanwhile, Deutsche's Chris Terry downgraded Reliance Steel (RS) to Hold from Buy and lowered his price target for the shares to $90 from $100, and downgraded U.S. Steel (X) to Hold from Buy and lowered his price target for the shares to $35 from $47. The analyst said his view on the steel sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry believes.
10/02/18
DBAB
10/02/18
DOWNGRADE
Target $15
DBAB
Hold
Deutsche downgrades Century Aluminum on growing risks, reduced upside
Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20. Century's margins could remain pressured for longer due to alumina supply disruptions, Kliewer tells investors in a research note. Further, the analyst feels little progress has been made with Santee Cooper, the electrical supplier at the company's Mt. Holly smelter, and that support for import tariffs may decline further following the November mid-term elections. As such, the analyst sees reduced upside potential and growing risk for Century Aluminum shares.
10/04/18
RILY
10/04/18
NO CHANGE
Target $20
RILY
Buy
Century Aluminum price target lowered to $20 from $23 at B. Riley FBR
B. Riley FBR analyst Lucas Pipes lowered his price target for Century Aluminum to $20 after adjusting his estimates for the company and Aloca (AA) to reflect expected Q3 price realizations and his firm's upgraded long-term price deck. The analyst keeps a Buy rating on the shares.

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BIIB

Biogen

$230.70

1.49 (0.65%)

16:24
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SWI

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$19.16

0.04 (0.21%)

16:23
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Amgen

$168.36

-1.5 (-0.88%)

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General Motors

$36.98

-0.02 (-0.05%)

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DBVT

DBV Technologies

$8.98

-0.21 (-2.29%)

, AIMT

Aimmune

$19.68

-0.41 (-2.04%)

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AIMT

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$19.68

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Volatility Index S&P 500 Options

$0.00

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CVNA

Carvana

$67.17

-0.935 (-1.37%)

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Carvana files to sell 3.5M shares of Class A common stock »

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Incyte

$76.83

-0.41 (-0.53%)

16:19
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Alphabet

$1,138.33

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QGEN

Qiagen

$38.05

0.96 (2.59%)

MDCO

The Medicines Co.

$34.25

1.24 (3.76%)

DISH

Dish

$33.24

-2.095 (-5.93%)

SATS

EchoStar

$41.97

1.55 (3.83%)

PDD

Pinduoduo

$20.78

-1.91 (-8.42%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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    Jun

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GH

Guardant Health

$78.29

2.13 (2.80%)

16:18
05/20/19
05/20
16:18
05/20/19
16:18
Syndicate
Guardant Health files to sell 4.5M shares of common stock »

JPMorgan and BofA/Merrill…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 31

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    Jun

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
05/20/19
05/20
16:17
05/20/19
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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INSM

Insmed

$28.08

-1.08 (-3.70%)

16:16
05/20/19
05/20
16:16
05/20/19
16:16
Syndicate
Insmed files to sell $250M of common stock »

Morgan Stanley & Co.,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 23

    Jun

$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
05/20/19
05/20
16:16
05/20/19
16:16
Technical Analysis
NYSE market internals summary »

Volume was average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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NEO

NeoGenomics

$23.19

0.22 (0.96%)

16:15
05/20/19
05/20
16:15
05/20/19
16:15
Syndicate
Breaking Syndicate news story on NeoGenomics »

NeoGenomics files $150M…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 28

    May

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  • 06

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    Nov

BKNG

Booking Holdings

$1,751.62

-35.11 (-1.97%)

16:15
05/20/19
05/20
16:15
05/20/19
16:15
Initiation
Booking Holdings initiated  »

Booking Holdings assumed…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 06

    Jun

TRIP

TripAdvisor

$45.01

0.01 (0.02%)

16:13
05/20/19
05/20
16:13
05/20/19
16:13
Upgrade
TripAdvisor rating change  »

TripAdvisor upgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 21

    May

  • 22

    May

  • 11

    Jun

EXPE

Expedia

$116.48

0.22 (0.19%)

16:13
05/20/19
05/20
16:13
05/20/19
16:13
Initiation
Expedia initiated  »

Expedia assumed with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 04

    Jun

MGM

MGM Resorts

$25.34

-0.54 (-2.09%)

16:11
05/20/19
05/20
16:11
05/20/19
16:11
Conference/Events
MGM Resorts participates in a conference call with UBS »

Leisure, Gaming &…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    May

  • 29

    May

KR

Kroger

$24.06

-0.165 (-0.68%)

16:10
05/20/19
05/20
16:10
05/20/19
16:10
Upgrade
Kroger rating change  »

Kroger upgraded to…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 22

    May

CLVS

Clovis

$16.35

-0.68 (-3.99%)

16:08
05/20/19
05/20
16:08
05/20/19
16:08
Hot Stocks
Clovis says Rubraca increased symptom-free period in ovarian cancer patients »

Clovis Oncology announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 31

    May

  • 06

    Jun

VRSK

Verisk Analytics

$141.45

-0.56 (-0.39%)

16:07
05/20/19
05/20
16:07
05/20/19
16:07
Conference/Events
Verisk Analytics management to meet with Cantor Fitzgerald »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 23

    May

  • 29

    May

  • 05

    Jun

MRVL

Marvell

$21.73

-0.885 (-3.91%)

16:06
05/20/19
05/20
16:06
05/20/19
16:06
Hot Stocks
Marvell to acquire Avera Semiconductor for $650M in cash »

Marvell announced it has…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 30

    May

VNE

Veoneer

$18.84

-0.03 (-0.16%)

16:06
05/20/19
05/20
16:06
05/20/19
16:06
Syndicate
Breaking Syndicate news story on Veoneer »

Veoneer files to sell…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 23

    May

OCUL

Ocular Therapeutix

$3.35

-0.11 (-3.18%)

16:06
05/20/19
05/20
16:06
05/20/19
16:06
Hot Stocks
Ocular Therapeutix says OTX-TP failed to meet primary endpoint in Phase 3 trial »

Ocular Therapeutix…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 11

    Jun

  • 10

    Nov

CBAY

CymaBay

$12.37

-0.24 (-1.90%)

16:05
05/20/19
05/20
16:05
05/20/19
16:05
Hot Stocks
CymaBay announces results related to seladelpar clinical development program »

CymaBay Therapeutics…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 12

    Jun

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