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SQ

Square

$75.00

-2.75 (-3.54%)

06:53
11/06/18
11/06
06:53
11/06/18
06:53

Square upgraded to Buy from Neutral at Citi

Citi analyst Peter Christiansen upgraded Square to Buy from Neutral and raised his price target for the shares to $90 from $67. The stock closed yesterday down $2.75 to $75.01.In addition to "robust" user acquisition spending, Square's planned ~35% headquarter expansion signals confidence in continued platform growth, Christiansen tells investors in a research note. Further, he believes upcoming Q3 commentary on the overall health of the ecosystem, visibility into fiscal 2019, and progress on the CFO search "will be positive towards restoring momentum in the stock." The analyst adds that he has no reason to believe Square's CFO departure relates to a negative change in the company's forward prospects. After a deeper look into Square's investment spending/payback model, Christiansen lifted his 2019 adjusted revenue estimate by 8%, or 9 points above consensus expectations for 42% growth.

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    Dec

SQ Square
$75.00

-2.75 (-3.54%)

11/05/18
KEYB
11/05/18
NO CHANGE
Target $115
KEYB
Overweight
Square could generate 'significant' revenue upside, says KeyBanc
KeyBanc analyst Josh Beck believes Square could generate significant revenue upside based on Key First Look Data indicating sustained triple-digit Square Cash growth, strength in the NFIB survey data, KBCM seller survey, and Key First Look Data indicating little GPV deceleration. The analyst expects initial 2019 commentary to reflect top-line strength with elevated investment, a viewpoint he fully endorses. Beck recommends using the market pullback to establish a position in Square. He reiterates an Overweight rating and $115 price target on the shares.
10/17/18
RHCO
10/17/18
NO CHANGE
Target $74
RHCO
Hold
Square price target raised to $74 from $66 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price target on Square to $74 but kept his Hold rating, noting that he is impressed by the company's innovation and "likely ongoing better than expected revenue growth" even though investors may be overestimating its total addressable market. Jeffrey further states that while the recent pullback "piques" his interest, but he does not see it as an opportunity to buy stock, adding that the recent abrupt departure by CFO Sarah Friar demands a "more forgiving" valuation.
10/12/18
10/12/18
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. MICROSOFT UPGRADED TO OUTPERFORM AFTER PULLBACK: Macquarie analyst Sarah Hindlian upgraded Microsoft (MSFT) to Outperform from Neutral and raised her price target on the shares to $121, saying she is taking advantage of the pullback in shares. Hindlian views Microsoft as a relatively defensive name with long-term earnings power and expects a strong start to FY19 following constructive field work. CITI UPGRADES NETFLIX TO BUY: Citi analyst Mark May upgraded Netflix (NFLX) to Buy from Neutral with an unchanged price target of $375. The valuation, following this week's selloff, has reached a level that warrants an "opportunistic" upgrade to Buy, May said. Netflix has a highly recurring subscription-based revenue business that delivers "significant value" to consumers, and its management team has a strong track record of execution, the analyst contended. Further, he believes the company's fundamentals remain strong and that is has opportunity to continue growing international subscribers. SQUARE UPGRADED TO BUY AFTER PULLBACK: Canaccord Genuity analyst Michael Graham upgraded Square (SQ) to Buy from Hold and raised his price target for the shares to $90 from $60. The recent pullback in the shares creates a long-term opportunity in a "truly disruptive and well-run company," Graham said. He believes the departure of CFO Sarah Friar is more about going to a promising company as CEO rather than walking away from a risk. PIVOTAL UPGRADES SNAP TO BUY: Pivotal Research analyst Brian Wieser upgraded Snap (SNAP) to Buy from Hold while lowering his price target for the shares to $8 from $9. The analyst said that despite declining usage and liquidity, the data he looks at is showing a "widening user base, although one which is collectively reducing its time on the platform." It is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends, Wieser added. Further, the analyst believes Snap could become an attractive candidate to go private with the stock's price at current levels. JPMORGAN DOWNGRADES ESTEE LAUDER TO NEUTRAL: JPMorgan analyst Andrea Teixeira downgraded Estee Lauder (EL) to Neutral and lowered her price target for the shares to $138 from $154. There may be a deceleration in the travel retail channel ahead now that Chinese customs agents are implementing tighter controls at the border, according to local source, Teixeira noted. Further, she believes the de-rating in luxury peers related to the group's "outsized exposure" to Chinese consumers will likely put a cap on Estee Lauder's valuation as well. The analyst also sees less opportunity for earnings beats on margins in the near term given tariff costs.
10/12/18
10/12/18
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. Microsoft (MSFT) upgraded to Outperform from Neutral at Macquarie with analyst Sarah Hindlian saying she is taking advantage of the pullback in shares. 2. Netflix (NFLX) upgraded to Buy from Neutral at Citi with analyst Mark May saying the valuation, following this week's selloff, has reached a level that warrants an "opportunistic" upgrade to Buy. 3. Square (SQ) upgraded to Buy from Hold at Canaccord with analyst Michael Graham saying the recent pullback in the shares creates a long-term opportunity in a "truly disruptive and well-run company." 4. Snap (SNAP) upgraded to Buy from Hold at Pivotal Research with analyst Brian Wieser saying despite declining usage and liquidity, the data he looks at is showing a "widening user base, although one which is collectively reducing its time on the platform." 5. Costco (COST) 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, click here.

TODAY'S FREE FLY STORIES

BA

Boeing

$349.62

-7.31 (-2.05%)

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LBRDA

Liberty Broadband

$82.52

0.22 (0.27%)

05:55
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Conference/Events
Liberty Broadband to host investor meeting »

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RGA

Reinsurance Group

$149.53

1.81 (1.23%)

05:55
11/14/18
11/14
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05:55
Conference/Events
Reinsurance Group management to meet with UBS »

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DDAIF

Daimler AG

$0.00

(0.00%)

05:51
11/14/18
11/14
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05:51
Hot Stocks
Daimler to open new R&D center in China to accelerate localization »

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BTI

British American Tobacco

$37.04

-1.04 (-2.73%)

, MO

Altria Group

$60.01

-1.18 (-1.93%)

05:46
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11/14
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Hot Stocks
Juul to halt social media promotions, stop selling most flavors in stores »

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BTI

British American Tobacco

$37.04

-1.04 (-2.73%)

MO

Altria Group

$60.01

-1.18 (-1.93%)

PM

Philip Morris

$86.42

-1.48 (-1.68%)

FB

Facebook

$142.19

0.67 (0.47%)

SNAP

Snap

$6.72

0.06 (0.90%)

TWTR

Twitter

$32.49

0.49 (1.53%)

GOOG

Alphabet

$1,036.33

-2.89 (-0.28%)

03/08/13
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AIBRF

AIB Group

$0.00

(0.00%)

05:44
11/14/18
11/14
05:44
11/14/18
05:44
Upgrade
AIB Group rating change  »

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AAPL

Apple

$192.23

-1.925 (-0.99%)

, LITE

Lumentum

$38.95

1.445 (3.85%)

05:42
11/14/18
11/14
05:42
11/14/18
05:42
Recommendations
Apple, Lumentum, Qorvo analyst commentary  »

UBS drops Apple price…

AAPL

Apple

$192.23

-1.925 (-0.99%)

LITE

Lumentum

$38.95

1.445 (3.85%)

QRVO

Qorvo

$63.68

-0.12 (-0.19%)

03/08/13
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AMZN

Amazon.com

$1,631.68

-5.02 (-0.31%)

05:38
11/14/18
11/14
05:38
11/14/18
05:38
Periodicals
Amazon decided to split HQ2 in two in September, WSJ reports »

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RMED

Ra Medical Systems

$8.16

-0.455 (-5.28%)

05:33
11/14/18
11/14
05:33
11/14/18
05:33
Recommendations
Ra Medical Systems analyst commentary  »

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REGN

Regeneron

$342.12

-4.45 (-1.28%)

05:30
11/14/18
11/14
05:30
11/14/18
05:30
Recommendations
Regeneron analyst commentary  »

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PAAS

Pan American Silver

$14.13

-0.14 (-0.98%)

, TAHO

Tahoe Resources

$2.20

-0.055 (-2.44%)

05:28
11/14/18
11/14
05:28
11/14/18
05:28
Hot Stocks
Pan American Silver to acquire Tahoe Resources for $3.40 per share »

Pan American Silver…

PAAS

Pan American Silver

$14.13

-0.14 (-0.98%)

TAHO

Tahoe Resources

$2.20

-0.055 (-2.44%)

03/08/13
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BHVN

Biohaven Pharmaceutical

$36.88

0.46 (1.26%)

05:20
11/14/18
11/14
05:20
11/14/18
05:20
Earnings
Breaking Earnings news story on Biohaven Pharmaceutical »

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BRKR

Bruker

$32.65

-0.21 (-0.64%)

05:19
11/14/18
11/14
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05:19
Hot Stocks
Bruker agrees to acquire Alicona Imaging GmbH, terms not disclosed »

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ESLT

Elbit Systems

$120.29

-1.45 (-1.19%)

05:18
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05:18
Hot Stocks
Elbit Systems awarded $167M contract from Asia-Pacific country »

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FTI

TechnipFMC

$23.53

-1.24 (-5.01%)

, CVX

Chevron

$115.35

-2.12 (-1.80%)

05:16
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Hot Stocks
TechnipFMC signs surface technologies frame agreement with Chevron »

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FTI

TechnipFMC

$23.53

-1.24 (-5.01%)

CVX

Chevron

$115.35

-2.12 (-1.80%)

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05:15
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General news
Oil prices erased losses »

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SERV

ServiceMaster

$43.03

0.545 (1.28%)

05:14
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Initiation
ServiceMaster initiated  »

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SPGI

S&P Global

$180.07

-2.08 (-1.14%)

05:13
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Initiation
S&P Global initiated  »

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RENN

Renren

$1.53

0.08 (5.52%)

05:13
11/14/18
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05:13
Hot Stocks
Renren sells SNS business to Beijing Infinities Interactive Media »

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MCO

Moody's

$148.05

-2.03 (-1.35%)

05:12
11/14/18
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Initiation
Moody's initiated  »

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  • 15

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K

Kellogg

$63.48

-0.81 (-1.26%)

05:08
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05:08
Downgrade
Kellogg rating change  »

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  • 03

    Mar

WYGPY

WorleyParsons

$0.00

(0.00%)

05:05
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WorleyParsons rating change  »

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SURRY

Sun Art Retail Group

$0.00

(0.00%)

05:02
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11/14
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05:02
Downgrade
Sun Art Retail Group rating change  »

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CTT

CatchMark Timber

$9.14

0.045 (0.49%)

04:59
11/14/18
11/14
04:59
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04:59
Recommendations
CatchMark Timber analyst commentary  »

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FLXN

Flexion

$16.40

0.17 (1.05%)

04:55
11/14/18
11/14
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04:55
Conference/Events
Flexion management to meet with RBC Capital »

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