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2018-11-06 07:48:51 TWOU 2U $63.27 -0.56 (-0.88%) 07:48 11/06/18 11/06 07:48 11/06/18 07:48	2U should be bought on post-earnings weakness, says Barrington Barrington analyst Alexander Paris, Jr. noted that 2U shares were sharply lower in after-market trading after the company's preliminary 2019 earnings guidance came in below consensus expectations due to planned increases in marketing expenses. He lowered his price target on 2U shares to $75 from $100 to account for his lower near-term earnings expectations as well as lower valuation multiples overall, but sees the post-earnings selloff as a buying opportunity and keeps an Outperform rating on the stock.	08 Nov
TWOU 2U $63.27 -0.56 (-0.88%) 10/24/18 NEED 10/24/18 INITIATION Target $80 NEED Buy 2U initiated with a Buy at Needham Needham analyst Ryan MacDonald initiated 2U with a Buy rating and a price target of $80, citing its offering of a "cloud-based software platform" designed to "bring university partners into the digital age via online graduate degree and short course programs". The analyst expects the company to capture additional market share based on the continued strong demand for online programs and the "continued scaling of the short course segment", anticipating a 30% annual revenue growth through FY20. MacDonald further contends that the graduate program segment opportunity is poised for accelerating growth, adding that the 5.5-times enterprise value to expected FY19 sales valuation multiple of 2U is attractive. 10/24/18 10/24/18 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. Tesla (TSLA) initiated with an Outperform at JMP Securities. 2. Comcast (CMCSA) resumed with a Buy at Deutsche Bank, reinstated with a Buy at Citi, and assumed with a Neutral at Guggenheim. 3. 2U (TWOU) initiated with a Buy at Needham. 4. Corbus Pharmaceuticals (CRBP) initiated with a Buy at B. Riley FBR. 5. Entasis Therapeutics (ETTX) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. 11/06/18 PIPR 11/06/18 NO CHANGE Target $76 PIPR Neutral 2U price target lowered to $76 from $94 at Piper Jaffray Piper Jaffray analyst Peter Appert lowered his price target for 2U to $76 and keeps a Neutral rating on the shares following the company's Q3 results. Lower near-term EBITDA estimates and limited visibility into the timing of an inflection to free cash flow will likely keep the stock "under wraps near-term," Appert tells investors in a post-earnings research note. The analyst reduced his near-term estimates to reflect the company's higher investment spending. 11/06/18 KEYB 11/06/18 NO CHANGE Target $80 KEYB Overweight 2U price target lowered to $80 form $100 at KeyBanc KeyBanc analyst Monika Garg lowered her price target for 2U to $80 from $100 on lower 2019 EV/sales multiple given program specific factors and lower profitability expectations. The analyst notes the company reported modestly better Q3 results, and raised 2018 guidance accordingly. While 2U provided 2019 revenue guidance in line with expectations, it lowered EBITDA to prioritize investments, she points out, adding that 2U indicated academic leadership changes at two early programs were impacting 2019 DGP growth. Garg reiterated an Overweight rating on the shares.

2018-11-06 07:48:51

TWOU

$63.27: -0.56 (-0.88%)

07:48

11/06/18

11/06

07:48

11/06/18

07:48

2U should be bought on post-earnings weakness, says Barrington

Barrington analyst Alexander Paris, Jr. noted that 2U shares were sharply lower in after-market trading after the company's preliminary 2019 earnings guidance came in below consensus expectations due to planned increases in marketing expenses. He lowered his price target on 2U shares to $75 from $100 to account for his lower near-term earnings expectations as well as lower valuation multiples overall, but sees the post-earnings selloff as a buying opportunity and keeps an Outperform rating on the stock.

08
Nov

TWOU 2U

$63.27: -0.56 (-0.88%)

10/24/18: NEED

10/24/18

11/06/18: PIPR

11/06/18: KEYB

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Syndicate

This week’s upcoming IPOs and secondary offerings

Priced
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Mon	ETON X ETON Eton Pharmaceuticals IPO Managers: National Securities Priced at: $6.00 3.6M Shares
Tues	VAPO X VAPO Vapotherm IPO Managers: BofA/Merrill & William Blair, Canaccord, BTIG Priced at: $14.00 4M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial BHGE X BHGE Baker Hughes Secondary Managers: Morgan Stanley & JPMorgan, Citi, Goldman Sachs Priced at: $23.00 92M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial CDAY X CDAY Ceridian Secondary Managers: Goldman Sachs & JPMorgan, Credit Suisse, Deutsche Bank, Barclays, Citi, Jefferies, Piper Jaffray, Wells Fargo, Baird, CIBC, William Blair, Canaccord, Needham, MUFG Priced at: $36.00 11M Shares Special Comments Ratings Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial AMAL X AMAL Amalgamated Bank Spot Secondary Managers: Barclays & JPMorgan Priced at: $19.25 2M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial CDNA X CDNA CareDx Spot Secondary Managers: Jefferies & Piper Jaffray, Craig-Hallum Priced at: $24.50 2M Shares Special Comments Ratings Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial LADR X LADR Ladder Capital Spot Secondary Managers: Citi, Wells Fargo, Deutsche Bank, Goldman Sachs, BTIG & Barclays Priced at: $17.25 5.8M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial
Wed	BCSF X BCSF Bain Capital Specialty Finance IPO Managers: BofA/Merrill, Goldman Sachs, Morgan Stanley, Citi, Credit Suisse, Keefe Bruyette & Wells Fargo, Janney Montgomery Scott, JMP Securities, Academy Priced at: $20.25 7.5M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial WEI X WEI Weidai IPO Managers: Morgan Stanley & Citi, AMTD Priced at: $10.00 4.5M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial ED X ED Consolidated Edison Secondary Managers: Citi, Barclays & JPMorgan Priced at: $77.00 13.6M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial NGHC X NGHC National General Secondary Managers: JPMorgan, Goldman Sachs & Deutsche Bank Priced at: $24.00 5M Shares Special Comments Ratings Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial NXRT X NXRT NexPoint Residential Secondary Managers: Raymond James & Jefferies, DA Davidson, Ladenburg Priced at: $33.00 2.35M Shares VICI X VICI VICI Properties Secondary Managers: Goldman Sachs, BofA/Merrill, Deutsche Bank & Morgan Stanley Priced at: $21.00 30M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial AGNC X AGNC AGNC Investment Spot Secondary Managers: Credit Suisse, Citi, JPMorgan, Morgan Stanley, BofA/Merrill & Goldman Sachs, Keefe Bruyette, RBC Capital Priced at: $17.27 40M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial EYE X EYE National Vision Spot Secondary Managers: Goldman Sachs & Citi Priced at: $40.50 12.5M Shares HSDT X HSDT Helius Medical Spot Secondary Managers: BTIG & Oppenheimer Priced at: $8.25 2.121M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial KREF X KREF KKR Real Estate Finance Spot Secondary Managers: Morgan Stanley, Wells Fargo, Citi, Goldman Sachs & Deutsche Bank Priced at: $20.15 4.5M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial
Thurs	EQH X EQH AXA Equitable Secondary Managers: Morgan Stanley, JPMorgan & Citi Priced at: $20.25 60M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial LAUR X LAUR Laureate Education Secondary Managers: Credit Suisse, Barclays, BMO Capital & Macquarie Priced at: $14.00 12.25M Shares VLRX X VLRX Valeritas Secondary Managers: Oppenheimer & BTIG, National Securities Priced at: $0.48 75M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial
Fri	No deals

Mon	No deals
Tues	No deals
Wed	CNTX X CNTX Centrexion IPO Managers: BofA/Merrill, Leerink & Evercore ISI $14.00-16.00 5M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial
Thurs	UTC X UTC Uranium Trading IPO Managers: B. Riley FBR $10.00-12.00 Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial TLC X TLC Taiwan Liposome Secondary Managers: Cantor Fitzgerald, CLSA, H.C. Wainwright, Janney Montgomery Scott, Laidlaw $5.80 5M Shares Special Comments Some content is locked. Log in above or sign up for a free trial to see this information. Get Free Trial MCF X MCF Contango Oil & Gas Spot Secondary Managers: Cowen, Intrepid $4.48
Fri	No deals

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2U should be bought on post-earnings weakness, says Barrington

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