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HRL

Hormel Foods

$43.93

-0.29 (-0.66%)

, VVV

Valvoline

$18.54

-2.24 (-10.78%)

10:30
11/06/18
11/06
10:30
11/06/18
10:30

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Sell on valuation, cautious outlook at Vertical Group with analyst Heather Jones citing valuation. 2. Valvoline (VVV) downgraded to Underperform from Buy at BofA/Merrill with analyst Olivia Tong citing the Q4 miss and guidance. 3. Gladstone Capital (GLAD) downgraded to Sell from Neutral at National Securities with the firm citing the $50M Notes offering and portfolio company bankruptcy. 4. Western Union (WU) downgraded to Market Perform from Outperform at Wells Fargo with analyst Timothy Willi saying he views the company's Q3 results as "mixed" and says he struggles to see the catalyst for acceleration in the fundamentals that will move the shares higher. 5. New York Times (NYT) downgraded to Underweight from Equal Weight at Barclays with analyst Kannan Venkateshwar citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

HRL

Hormel Foods

$43.93

-0.29 (-0.66%)

VVV

Valvoline

$18.54

-2.24 (-10.78%)

GLAD

Gladstone Capital

$9.30

-0.04 (-0.43%)

WU

Western Union

$18.36

-0.09 (-0.49%)

NYT

New York Times

$26.62

-1.38 (-4.93%)

  • 06

    Nov

  • 13

    Nov

  • 20

    Nov

HRL Hormel Foods
$43.93

-0.29 (-0.66%)

11/06/18
PIPR
11/06/18
NO CHANGE
Target $50
PIPR
Overweight
Hormel Foods price target raised to $50 from $39 at Piper Jaffray
Piper Jaffray analyst Michael Lavery raised his price target for Hormel Foods to $50 saying he sees several foodservice growth drivers, including doubling capacity for its Bacon1 product on October 15 and for its fire-braised meats in December. The analyst believes Hormel's foodservice opportunity is underappreciated. Further, he expects continued "strong" 3%-4% organic sales growth and a margin recovery in fiscal 2019. Hormel Foods offers the best in group EBIT growth outlook and its Bacon1 capacity expansion is positive, Lavery tells investors in a research note. He keeps an Overweight rating on the shares.
09/28/18
09/28/18
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. Zynga (ZNGA) initiated with a Buy at Stifel. 2. TechTarget (TTGT) initiated with an Outperform at Raymond James. 3. Q2 Holdings (QTWO) initiated with an Equal Weight at Stephens. 4. Hess Corp. (HES) initiated with an Outperform at Bernstein. 5. Hormel Foods (HRL) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/18
JPMS
09/28/18
INITIATION
Target $41
JPMS
Neutral
Hormel Foods initiated with a Neutral at JPMorgan
JPMorgan analyst Thomas Palmer started Hormel Foods with a Neutral rating and $41 price target. The analyst believes lower industry pork processing margins in the near-term could lead to a better entry point into the shares.
11/06/18
VERF
11/06/18
DOWNGRADE
VERF
Sell
Hormel Foods downgraded to Sell on valuation, cautious outlook at Vertical Group
Vertical Group analyst Heather Jones downgraded Hormel Foods to Sell from Hold citing valuation and a more cautious outlook.
VVV Valvoline
$18.54

-2.24 (-10.78%)

11/06/18
BOFA
11/06/18
DOWNGRADE
BOFA
Underperform
Valvoline downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Olivia Tong downgraded Valvoline two notches to Underperform from Buy and cut its price target to $20 from $24 following the Q4 miss and guidance. Tong said core North American margins fell short of expectations and DIY has become increasing competitive as the industry chases worsening volumes. The analyst said the challenging environment will result in increased competitive pressures on pricing and promotions in order to maintain volumes, which will limit profits.
09/14/18
09/14/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Costco (COST) downgraded to Market Perform from Outperform at Wells Fargo with analyst Edward Kelly saying while Costco remains one of the highest quality companies within consumer and its near-term results should be positive, "this may be as good as it gets." 2. Dunkin' Brands (DNKN) downgraded to Sector Perform from Outperform at RBC Capital with analyst David Palmer saying while sales have accelerated sequentially, the current valuation of 22-times his expected FY20 earnings "reflects much of the turnaround." 3. Valvoline (VVV) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying industry trade publication National Oil and Lube New is reporting that Amazon (AMZN) has launched its first private label motor oil called AmazonBasics Full Synthetic Motor Oil. 4. DDR Corp. (DDR) downgraded to Neutral from Buy at Citi. 5. Tandem Diabetes (TNDM) downgraded to Neutral from Outperform at Baird with analyst Jeff Johnson saying at some point valuation will matter, so he moved to the sidelines. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/17/18
GHSC
09/17/18
UPGRADE
GHSC
Buy
Valvoline upgraded to Buy from Neutral at Seaport Global
Seaport Global analyst Michael Harrison upgraded Valvoline to Buy and maintained a $25 price target. Harrison believes last week's selloff is "overblown" and an excellent buying opportunity to involved the the growth stry driven by Quick Lubes and International. The analyst expects normalizing trends in the Core North American segment in Q4, noting base oil prices appear to be stabilizing, and further announcements that the company is adding stores to its quick-lube network.
10/03/18
JEFF
10/03/18
INITIATION
Target $27
JEFF
Buy
Valvoline initiated with a Buy at Jefferies
Jefferies analyst Laurence Alexander started Valvoline with a Buy rating and $27 price target. The company has successfully navigated a rising raw material environment, allaying a key investor concern after the spin off, Alexander tells investors in a research note.
GLAD Gladstone Capital
$9.30

-0.04 (-0.43%)

11/06/18
NATL
11/06/18
DOWNGRADE
NATL
Sell
Gladstone Capital downgraded to Sell from Neutral at National Securities
National Securities downgraded Gladstone Capital to Sell from Neutral and trimmed its price target to $7 from $8 citing the $50M Notes offering and portfolio company bankruptcy.
02/07/18
02/07/18
UPGRADE

Neutral
Gladstone Capital upgraded to Neutral from Sell at National Securities
WU Western Union
$18.36

-0.09 (-0.49%)

07/19/18
MSCO
07/19/18
NO CHANGE
MSCO
Morgan Stanley upgrades Payments and Processing industry to Attractive
Morgan Stanley analyst James Faucette upgraded his view of the Payments and Processing industry to Attractive, citing the firm's U.S. Strategy Team's call for rotation out of Technology and his view that Payments will be seen as an attractive option for investors looking to become more defensive. Investors underappreciate the resilience of consumer spending and Faucette sees the potential for his Payments coverage market-cap weighted earnings growth to accelerate organically to 15% over 2018-2020 from 11% growth over the last three years, he tells investors. In the group, the firm has Overweight ratings on Visa (V), MasterCard (MA), PayPal (PYPL), GreenSky (GSKY), Worldpay (WP) and FleetCor (FLT). Morgan Stanley has Underweight ratings on Western Union (WU) and On Deck Capital (ONDK), having downgraded On Deck this morning.
09/27/18
DBAB
09/27/18
NO CHANGE
DBAB
Buy
FleetCor could be acquirer of Western Union's B2B business, says Deutsche Bank
Bloomberg yesterday reported that Western Union (WU) is working with an adviser to potentially sell its business-to-business cross-border payments business, and that the unit could fetch $500M. Deutsche Bank analyst Ashish Sabadra believes FleetCor (FLT) could be a potential acquirer given the synergies with its Cambridge B2B cross-border payments. The analyst estimates an acquisition could be $1 accretive to earnings per share 12-18 months post acquisition close, depending on the terms of a deal and the margin potential. More importantly, the deal would significantly enhance FleetCor's market positioning in B2B cross-border payments, Sabadra tells investors in a research note. The analyst thinks a potential accretive acquisition could provide upside to 2019 estimates. He keeps a Buy rating on FleetCor.
11/06/18
WELS
11/06/18
DOWNGRADE
WELS
Market Perform
Western Union downgraded to Market Perform from Outperform at Wells Fargo
11/06/18
WELS
11/06/18
DOWNGRADE
Target $20
WELS
Market Perform
Wells Fargo downgrades Western Union to Market Perform after 'mixed' Q3
Wells Fargo analyst Timothy Willi downgraded Western Union to Market Perform from Outperform and lowered his price target for the shares to $20 from $28. The analyst views the company's Q3 results as "mixed" and says he struggles to see the catalyst for acceleration in the fundamentals that will move the shares higher. A host of factors such a competition, regulation and somewhat inconsistent economic growth across the globe indicate that Western Union's fundamentals, while stable, are not likely to accelerate, Willi tells investors in a research note. He believes, however, that an attractive dividend yield and relatively low valuation limit the stock's downside risk.
NYT New York Times
$26.62

-1.38 (-4.93%)

11/06/18
LEHM
11/06/18
DOWNGRADE
Target $18
LEHM
Underweight
Barclays downgrades New York Times to Underweight on valuation
Barclays analyst Kannan Venkateshwar downgraded New York Times (NYT) to Underweight from Equal Weight and lowered his price target for the shares to $18 from $20. The stock is up 50% this year, right between Amazon's (AMZN) 40% rally and Netflix's (NFLX) 64%, Venkateshwar tells investors in a research note. New York Times investors appear to have transitioned to a valuation framework based on digital net adds rather than earnings, says the analyst. However, he believes this valuation transition "is too premature and could force suboptimal choices on management." Venkateshwar says the valuation is "ahead of the story."
11/06/18
LEHM
11/06/18
DOWNGRADE
Target $18
LEHM
Underweight
New York Times downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Kannan Venkateshwar downgraded New York Times to Underweight and lowered his price target for the shares to $18 from $20.
11/01/18
JPMS
11/01/18
NO CHANGE
JPMS
Overweight
JPMorgan 'extremely encouraged' by New York Times results
JPMorgan analyst Alexia Quadrani notes that New York Times reported Q3 earnings with revenue, adjusted operating profit, and EPS all ahead of consensus and her estimates. Most notably, the analyst pointed out that digital subscriber net adds in the quarter were 203k compared to her 130k estimate, with the core news product adding 143k and digital other adding 60k. The 143k net adds for news compares to 68k in Q2, and is the best quarter for the company since the Trump bump driven Q1 of 2017, Quadrani contended. Overall, the analyst is "extremely encouraged" by these results and sees momentum continuing on digital subscriber additions helped by the current elevated news cycle and the midterm elections. Quadrani has an Outperform rating on the shares.
10/11/18
10/11/18
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. JPMORGAN UPGRADES LUMENTUM AFTER SELLOFF: JPMorgan analyst Samik Chatterjee upgraded Lumentum (LITE) to Overweight from Neutral with an unchanged price target of $80. The 19% stock decline from the highs in late August, driven by concerns relative to U.S.-China trade, over-appreciates the "modest risks" for Lumentum, Chatterjee said. He believes this creates an "attractive buying opportunity" to capitalize on the near-term improvement in the earnings outlook. GOLDMAN CUTS HUNTINGTON TO SELL: Goldman Sachs analyst Noah Poponak downgraded Huntington Ingalls Industries (HII) to Sell from Neutral and lowered his price target for the shares to $208 from $220. Poponak said Huntington is now the most expensive stock in his Defense coverage on economic, price-to-earnings and free cash flow yield. The analyst believes the stock could underperform Defense peers in the medium-term given the valuation. JEFFRIES STARTS HERBALIFE WITH A BUY: Jefferies analyst Akshay Jagdale started Herbalife Nutrition (HLF) with a Buy rating and $65 price target. After a period of "muted growth," Herbalife's sales looked poised to accelerate to a more normalized range of 5%-9%, Jagdale believes. He thinks the company should be able to grow at least in line with its total addressable market growth rate of 6%. This, coupled with margin expansion and accretive free cash flow usage, should drive "significant" earnings upside and support a "growth company valuation," Jagdale said. JPMORGAN RAISES PRICE TARGET ON NY TIMES: JPMorgan analyst Alexia Quadrani raised her price target for New York Times (NYT) to $32 and reiterated an Overweight rating on the shares ahead of the company's Q3 results. The analyst said that while quarterly subscriber growth may continue to be volatile, the company's longer-term trends are positive. She expects New York Times' growth to "remain at elevated levels for the foreseeable future." SNAP PRICE TARGET CUT AT GOLDMAN SACHS: Goldman Sachs analyst Heath Terry lowered his price target for Snap (SNAP) to $11 from $17, while reiterating a Buy rating on the shares. With Snap shares down 50% since the company reported Q2 results, beyond the broader weakness in social media, the analyst believes investors are clearly focused on the impact competition is having on the company's user growth, ability to monetize, and capital needs. Terry continues to believe that a Twitter-like (TWTR) turnaround is possible, particularly as the new Android app comes out of Alpha later this quarter. However, it is unlikely that Q3 results will show any signs of that as reported DAUs decline and engagement is negatively impacted by the redesign/competition, he said.

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SB

Safe Bulkers

$1.60

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NXRT

NexPoint Residential

$38.40

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CGC

Canopy Growth

$47.54

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NXRT

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Carlisle

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FCAU

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CHH

Choice Hotels

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APTX

Aptinyx

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PLXP

PLx Pharma

$5.11

-0.11 (-2.11%)

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