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ACA

Arcosa

$29.06

0.05 (0.17%)

, ALDR

Alder Biopharmaceuticals

$14.07

-0.22 (-1.54%)

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

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Arcosa (ACA) initiated with a Buy at Gabelli. 2. Alder Biopharmaceuticals (ALDR) resumed with an Outperform at Wells Fargo. 3. Anaplan (PLAN) initiated with a Buy at Canaccord and Needham, an Overweight at Barclays and Piper Jaffray, an Outperform at JMP Securities, an In Line at Evercore ISI, an Equal Weight at Morgan Stanley, a Sector Weight at KeyBanc, and a Neutral at Goldman Sachs. 4. Equillium (EQ) initiated with a Buy at Stifel and Jefferies. 5. Badger Meter (BMI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

ACA

Arcosa

$29.06

0.05 (0.17%)

ALDR

Alder Biopharmaceuticals

$14.07

-0.22 (-1.54%)

PLAN

Anaplan

$23.54

-0.41 (-1.71%)

EQ

Equillium

$13.85

(0.00%)

BMI

Badger Meter

$50.50

0.37 (0.74%)

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    Nov

ACA Arcosa
$29.06

0.05 (0.17%)

11/05/18
SUSQ
11/05/18
INITIATION
Target $37
SUSQ
Positive
Arcosa initiated with a Positive rating at Susquehanna
Susquehanna analyst Bascome Majors initiated Arcosa (ACA) with a Positive rating after it was spun off from Trinity Industries (TRN) last week. The analyst noted both of their balance sheets were bolstered and he sees value in both. Majors has a $37 price target on Arcosa shares and a $27 price target on Trinity Industries shares.
11/06/18
GABE
11/06/18
INITIATION
GABE
Buy
Arcosa initiated with a Buy at Gabelli
Gabelli analyst Justin Bergner initiated Arcosa (ACA) with a Buy rating following the company's spin off from Trinity Industries (TRN) on November 1. He likes Arcosa management and sees numerous sources of upside across the business, notably barges, Bergner tells investors. He set a 2020 private market value of $50 on Arcosa shares.
ALDR Alder Biopharmaceuticals
$14.07

-0.22 (-1.54%)

10/12/18
MZHO
10/12/18
DOWNGRADE
Target $15
MZHO
Neutral
Alder Biopharmaceuticals downgraded to Neutral from Buy at Mizuho
Mizuho analyst Difei Yang downgraded Alder Biopharmaceuticals to Neutral and lowered her price target for the shares to $15 from $29. The analyst sees limited catalysts between an anticipated biologics license application submission in Q1 of 2019 and commercial launch expected in 2020. Investors could remain on the sidelines and away from higher risk names given the current higher volatility in the market, Yang tells investors in a research note.
11/06/18
WELS
11/06/18
INITIATION
Target $36
WELS
Outperform
Alder Biopharmaceuticals resumed with an Outperform at Wells Fargo
Wells Fargo analyst Jim Birchenough resumed coverage of Alder Biopharmaceuticals with an Outperform rating and $36 price target following review of Q3 operating results and ahead of expected BLA filing for novel CGRP antibody eptinezumab for migraine prevention. While commercial execution will be key, the analyst believes that differentiated delivery and reimbursement as well as key product attributes of greater speed and depth of response should support a significant opportunity and potentially attract large pharma/biotech interest.
09/10/18
09/10/18
INITIATION
Target $19

Underweight
Morgan Stanley starts Alder at Underweight given crowded migraine market
As previously reported, Morgan Stanley analyst Jeffrey Hung started Alder Biopharmaceuticals with an Underweight rating, noting that the company's migraine drug will be the fourth to market of the same class. Alder's drug has a fast onset, but he views efficacy across these drugs as largely similar, Hung tells investors. The consensus estimate of $750M for Alder's drug by 2025 needs to come down, according to the analyst, who set a $19 price target on the stock.
10/12/18
10/12/18
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. Molina Healthcare (MOH) downgraded to Hold from Buy at Jefferies with analyst David Windley citing valuation. 2. Genesee & Wyoming (GWR) downgraded to Neutral from Overweight at JPMorgan with analyst Brian Ossenbeck saying the stock is up 20% since the Q4 of 2017 earnings as management completed divesting the majority of the failed European acquisition and opportunistically repurchased 3% of the shares outstanding. 3. Oneok (OKE) downgraded to Equal Weight from Overweight at Barclays. 4. Alder Biopharmaceuticals (ALDR) downgraded to Neutral from Buy at Mizuho with analyst Difei Yang saying she sees limited catalysts between an anticipated biologics license application submission in Q1 of 2019 and commercial launch expected in 2020. 5. Veon (VEON) downgraded to Neutral from Buy at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PLAN Anaplan
$23.54

-0.41 (-1.71%)

11/06/18
EVER
11/06/18
INITIATION
Target $26
EVER
In Line
Anaplan initiated with an In Line at Evercore ISI
Evercore ISI analyst Kirk Materne initiated Anaplan with an In Line and $26 price target saying risk/reward is balanced.
11/06/18
ADAM
11/06/18
INITIATION
Target $27
ADAM
Buy
Anaplan initiated with a Buy at Canaccord
Canaccord analyst Richard Davis initiated Anaplan with a Buy rating and he called it a compelling firm in the "financial Upgrade Cycle" theme. He noted its differentiated product and attractive micro economics. Davis has a $27 price target on Anaplan shares.
11/06/18
LEHM
11/06/18
INITIATION
Target $30
LEHM
Overweight
Anaplan initiated with an Overweight at Barclays
Barclays analyst Raimo Lenschow started Anaplan with an Overweight rating and $30 price target. The analyst believes next-generation planning tools will start to see accelerating adoption as customers find value in connecting middle and back offices. He sees a "healthy" total addressable market of $21B by fiscal 2021. Anaplan should take a substantial share of the disruption in the evolving planning value chain, says the analyst.
11/06/18
MSCO
11/06/18
INITIATION
Target $23
MSCO
Equal Weight
Anaplan initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Stan Zlotsky initiated Anaplan with an Equal Weight rating and $23 price target, stating that he sees the company going after a large $24B total addressable market with powerful secular tailwinds, but also believes the current valuation levels prices in much of its growth potential and margin expansion. To get more positive on Anaplan, he would like to see recent trends of declining sales productivity start to stabilize, and perhaps reverse, Zlotsky added.
EQ Equillium
$13.85

(0.00%)

11/06/18
JEFF
11/06/18
INITIATION
Target $19
JEFF
Buy
Equillium initiated with a Buy at Jefferies
Jefferies analyst Biren Amin started Equillium with a Buy rating and $19 price target. The company is taking three shots on goal with lead asset EQ001, which is being developed for acute graft-vs.-host disease, chronic GvHD, and non-eosinophilic asthma, Amin tells investors in a research note. He sees data readouts as having the potential to unlock further share value.
11/06/18
STFL
11/06/18
INITIATION
Target $22
STFL
Buy
Equillium initiated with a Buy at Stifel
Stifel analyst Adam Walsh initiated Equillium with a Buy rating and $22 price target, citing the potential for lead asset EQ001. While noting a lack of near-term readouts, Walsh points to the selection of a fourth indication for EQ001 in the first half of 2019 and potential Phase 1b/2 interim aGVHD data in the second half of next year as "the first movers of shares."
BMI Badger Meter
$50.50

0.37 (0.74%)

11/06/18
MAXM
11/06/18
INITIATION
Target $65
MAXM
Buy
Badger Meter initiated with a Buy at Maxim
As reported earlier, Maxim analyst Tate Sullivan initiated Badger Meter with a Buy rating and a price target of $65, saying the company's introduction of new water meter technology into an "old infrastructure market" should lead to revenue and margin growth. The analyst also expects Badger Meter to boost its dividend by about 15% in 2019 - in line with the 2018 increase - and for its 2018 CEO transition to be "smooth", further supporting the premium multiple for its shares.
06/15/18
06/15/18
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. NV5 Global (NVEE) upgraded to Buy from Neutral at Sidoti. 2. Badger Meter (BMI) upgraded to Hold from Sell at Canaccord with analyst Chip Moore saying the company will continue to benefit from favorable demand for water/flow measurement and conservation technologies in the future, but he feels the current risk/reward is balanced. 3.Charles River (CRL) upgraded to Overweight from Sector Weight at KeyBanc with analyst Donald Hooker saying the stock is one of the best risk-reward stories in the biopharma outsourcing space heading into the second half of 2018. 4. Computer Task Group (CTG) upgraded to Outperform from Market Perform at Barrington with analyst Vincent Colicchio saying the valuation looks favorable following the recent pullback in the shares. 5. Spire (SR) upgraded to Outperform from Market Perform at Wells Fargo with analyst Sarah Akers saying the recent weakness in the shares provides an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/18
BREN
10/03/18
INITIATION
Target $43
BREN
Sell
Badger Meter initiated with a Sell at Berenberg
Berenberg analyst Andrew Buscaglia initiated Badger Meter with a Sell rating and $43 price target.
11/05/18
MAXM
11/05/18
INITIATION
Target $65
MAXM
Buy
Badger Meter initiated with a Buy at Maxim
Maxim initiated Badger Meter with a Buy and $65 price target.

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MGA

Magna

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MUFG

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