Breaking News Instant updates and real-time market news.

ETSY

Etsy

$40.43

-1.7 (-4.04%)

, FIVN

Five9

$38.34

0.52 (1.37%)

19:19
11/06/18
11/06
19:19
11/06/18
19:19

Fly Intel: After Hours Movers

UP AFTER EARNINGS: Etsy (ETSY) up 12.4%... Five9 (FIVN) up 9.5%... Tableau Software (DATA) up 8.1%... SendGrid (SEND) up 8.7%... Planet Fitness (PLNT) up 8.5%... Correvio Pharma (CORV) up 7.8%... Everi Holdings (EVRI) up 6.6%... Callon Petroleum (CPE) up 6.5%... Extraction Oil & Gas (XOG) up 5.0%... Genomic Health (GHDX) up 4.8%... Diodes (DIOD) up 4.8%... Rapid7 (RPD) up 4.4%... Flotek Industries (FTK) up 4.3%... Papa John's (PZZA) up 3.4%... New Relic (NEWR) up 3.3%... Cimarex (XEC) up 3.3%... Supernus Pharma (SUPN) up 3.1%... Pioneer Natural (PXD) up 3.0%... ProPetro Holdings (PUMP) up 2.7%... Century Communities (CCS) up 2.2%... Axon (AAXN) up 1.5%... Rigel Pharma (RIGL) up 1.4%... Lending Club (LC) up 1.4%... Plains All American (PAA) up 1.2%. DOWN AFTER EARNINGS: Infinera (INFN) down 25.7%... Primo Water Corp (PRMW) down 22.6%... Medifast (MED) down 19.5%... Zillow (Z) down 19.0%... MindBody (MB) down 16.4%... TrueCar (TRUE) down 15.1%... Chuy's Holdings (CHUY) down 12.3%... Turtle Beach (HEAR) down 11.8%... Ichor Holdings (ICHR) down 11.3%... Inseego (INSG) down 11.2%... Myriad Genetics (MYGN) down 11.1%... Red Robin Gourmet Burgers (RRGB) down 10.2%... Match Group (MTCH) down 9.1%... Jazz Pharma (JAZZ) down 8.6%... Akorn (AKRX) down 8.4%... Coherent (COHR) down 7.6%... DXC Technology (DXC) down 7.3%... Vivint Solar (VSLR) down 6.1%... Zagg (ZAGG) down 5.3%... Ultra Clean Holdings (UCTT) down 5.0%... Wendy's (WEN) down 4.9%... Camping World Holdings (CWH) down 4.7%... Darling Ingredients (DAR) down 4.4%... Hackett Group (HCKT) down 4.4%... Frontier Communications (FTR) down 3.8%... GoDaddy (GDDY) down 3.5%... DexCom (DXCM) down 2.6%... Devon Energy (DVN) down 2.5%... Cara Therapeutics (CARA) down 2.3%... Kratos (KTOS) down 1.4%.

ETSY

Etsy

$40.43

-1.7 (-4.04%)

FIVN

Five9

$38.34

0.52 (1.37%)

DATA

Tableau

$105.00

-1.62 (-1.52%)

SEND

SendGrid

$34.20

-0.51 (-1.47%)

PLNT

Planet Fitness

$47.43

0.36 (0.76%)

CORV

Correvio

$3.62

0.05 (1.40%)

EVRI

Everi Holdings

$7.45

0.04 (0.54%)

CPE

Callon Petroleum

$10.39

-0.115 (-1.09%)

XOG

Extraction Oil & Gas

$8.70

-0.01 (-0.11%)

GHDX

Genomic Health

$70.75

-0.2 (-0.28%)

DIOD

Diodes

$31.01

0.1 (0.32%)

RPD

Rapid7

$33.57

-0.61 (-1.78%)

FTK

Flotek

$1.87

-0.04 (-2.09%)

PZZA

Papa John's

$53.47

-1.03 (-1.89%)

NEWR

New Relic

$85.99

-0.06 (-0.07%)

XEC

Cimarex Energy

$83.12

-0.33 (-0.40%)

SUPN

Supernus

$41.84

0.13 (0.31%)

PXD

Pioneer Natural

$148.86

0.61 (0.41%)

PUMP

ProPetro Holding

$17.29

-0.46 (-2.59%)

CCS

Century Communities

$21.54

-0.21 (-0.97%)

AAXN

Axon

$60.04

-0.34 (-0.56%)

RIGL

Rigel Pharmaceuticals

$2.90

-0.03 (-1.02%)

LC

LendingClub

$3.65

0.165 (4.73%)

PAA

Plains All American

$23.73

0.41 (1.76%)

INFN

Infinera

$6.23

-0.04 (-0.64%)

PRMW

Primo Water

$17.80

0.68 (3.97%)

MED

Medifast

$214.79

0.59 (0.28%)

Z

Zillow

$41.09

0.6 (1.48%)

MB

Mindbody

$32.63

-0.96 (-2.86%)

TRUE

TrueCar

$11.49

0.11 (0.97%)

CHUY

Chuy's

$26.26

0.49 (1.90%)

HEAR

Turtle Beach

$21.68

0.92 (4.43%)

ICHR

Ichor Holdings

$19.28

-0.18 (-0.92%)

INSG

Inseego

$3.84

0.07 (1.86%)

MYGN

Myriad Genetics

$36.71

-1.61 (-4.20%)

RRGB

Red Robin

$33.19

0.71 (2.19%)

MTCH

Match Group

$51.50

0.3 (0.59%)

JAZZ

Jazz Pharmaceuticals

$164.61

2.43 (1.50%)

AKRX

Akorn

$7.49

0.11 (1.49%)

COHR

Coherent

$133.18

0.987 (0.75%)

DXC

DXC Technology

$72.23

0.41 (0.57%)

VSLR

Vivint Solar

$5.53

0.015 (0.27%)

ZAGG

Zagg

$12.26

0.21 (1.74%)

UCTT

Ultra Clean

$11.52

0.13 (1.14%)

WEN

Wendy's

$17.09

0.05 (0.29%)

CWH

Camping World

$19.05

-0.1 (-0.52%)

DAR

Darling Ingredients

$20.67

0.04 (0.19%)

HCKT

Hackett Group

$22.78

0.3 (1.33%)

FTR

Frontier Communications

$5.28

0.28 (5.60%)

GDDY

GoDaddy

$72.61

-0.49 (-0.67%)

DXCM

DexCom

$132.68

1.78 (1.36%)

DVN

Devon Energy

$32.93

-0.17 (-0.51%)

CARA

Cara Therapeutics

$19.72

0.13 (0.66%)

KTOS

Kratos Defense

$13.18

0.13 (1.00%)

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 06

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 08

    Nov

  • 08

    Nov

  • 09

    Nov

  • 12

    Nov

  • 12

    Nov

  • 13

    Nov

  • 13

    Nov

  • 13

    Nov

  • 13

    Nov

  • 14

    Nov

  • 15

    Nov

  • 19

    Nov

  • 20

    Nov

  • 26

    Nov

  • 27

    Nov

  • 27

    Nov

  • 27

    Nov

  • 01

    Dec

  • 04

    Dec

  • 05

    Dec

  • 05

    Dec

  • 06

    Dec

  • 12

    Dec

  • 20

    Dec

  • 09

    Jan

ETSY Etsy
$40.43

-1.7 (-4.04%)

09/18/18
ROTH
09/18/18
NO CHANGE
Target $52
ROTH
Buy
Etsy selloff on Amazon Storefront a buying opportunity, says Roth Capital
Roth Capital analyst Darren Aftahi is a buyer of Etsy (ETSY) on weakness from Amazon's (AMZN) expansion in the small and midsize business space via its Storefront offering. The stock closed yesterday down 5%, or $2.75, to $50.10. Amazon has already been present in the space with Handmade, a direct competitor to Etsy, for several years, which has not presented the risk that bears on the stock had thought, Aftahi tells investors in a research note. As such, he believes Amazon's announcement of Storefront represents more of a headline versus fundamental risk to Etsy's story. The analyst keeps a Buy rating on Etsy shares with a $52 price target.
10/30/18
DADA
10/30/18
NO CHANGE
Target $59
DADA
Buy
Etsy should be bought on a pullback, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $59 price target on Etsy, saying he is "confident" in its management to increase earnings, doing "more with less", and pursuing all opportunities "big or small". The analyst believes that investors should buy "this gem" on any pullback amid a "secular shift in buyers, especially millennials, who appreciate the ability to know the seller from whom they are purchasing products".
10/24/18
10/24/18
UPGRADE
Target $48

Equal Weight
Etsy upgraded to Equal Weight on turnaround success at Morgan Stanley
As previously reported, Morgan Stanley analyst Brian Nowak upgraded Etsy to Equal Weight from Underweight, stating that he was wrong about the company's ability to successfully turn around its business. While he'd previously increased his estimates after Etsy increased its seller service fee to 5%, Nowak said he had underestimated the impact of the change as the service fee will now also be applied to shipping costs. Etsy also rolled out a new seller subscription service that he estimates will add 2% to FY19 gross profit, even if only 3.5% of total sellers sign up by year end 2019, Nowak added. He raised his price target on Etsy shares to $48 from $36.
10/24/18
MSCO
10/24/18
UPGRADE
MSCO
Equal Weight
Etsy upgraded to Equal Weight from Underweight at Morgan Stanley
FIVN Five9
$38.34

0.52 (1.37%)

08/23/18
NEED
08/23/18
NO CHANGE
Target $50
NEED
Buy
Five9 price target raised to $50 from $45 at Needham
Needham analyst Scott Berg raised his price target on Five9 to $50 and kept his Buy rating after his meeting with its CEO and CFO yesterday. Berg says the discussions suggest that the company's business trends remain strong and that it can sustain its above average revenue growth for several years. The analyst maintains his positive view on Five9's AI prospects in benefiting from a "product paradigm shift in the Contact Center space", driving the company's large customers to a Cloud platform and doubling its current $25B total addressable market.
08/07/18
NEED
08/07/18
NO CHANGE
Target $45
NEED
Buy
Five9 price target raised to $45 from $38 at Needham
Needham analyst Scott Berg raised his price target on Five9 to $45 and kept his Buy rating after its Q2 earnings beat, also noting that the company's revenue growth of 28% was its fastest rate of acceleration in nearly 2 years. Berg further cites the "confluence of continued strength upmarket with larger deals and larger deal volume along with unexpected strength in its commercial segment", adding that Five9 sales metrics continue to point to strong demand that can drive revenue growth rate in the mid-20% over the intermediate term.
08/07/18
ADAM
08/07/18
NO CHANGE
Target $42
ADAM
Buy
Five9 price target raised to $42 from $34 at Canaccord
Canaccord analyst David Hynes raised his price target on Five9 to $42 from $34 following solid Q2 results. The analyst cited revenue growth accelerating to the fastest pace in two years along with expanding margins. Hynes, who also noted record Q2 bookings and a record pipeline, reiterated his Buy rating on Five9 shares.
08/07/18
JPMS
08/07/18
NO CHANGE
Target $46
JPMS
Overweight
Five9 price target raised to $46 from $32 at JPMorgan
JPMorgan analyst Sterling Auty raised his price target for Five9 to $46 following the company's Q2 results. The price was one of the best June quarters since Five9 went public and a "great result" for the first quarter under the new CEO Rowan Trollope, Auty tells investors in a research note. The analyst points out that the guidance saw the biggest increase in the last six quarters. He keeps an Overweight rating on Five9.
DATA Tableau
$105.00

-1.62 (-1.52%)

09/18/18
SBSH
09/18/18
NO CHANGE
Target $81
SBSH
Buy
Citi boosts targets on acceleration in data/analytics tools investments
Citi analyst Tyler Radke says his recent fieldwork points to acceleration in data/analytics tools investments, relative to even three months ago. The analyst's top three ideas remain unchanged with Alteryx (AYX), Tableau (DATA) and Talend (TLND). He has the highest confidence in upside to estimates for his top-pick Alteryx. Radke boosted his price target for the shares to $81 from $61 and keeps a Buy rating on the shares. The analyst also raised his price target for Tableau to $140 from $125 and for Talend to $86 from $76. He expects all three to show an acceleration in growth rates.
08/03/18
UBSW
08/03/18
NO CHANGE
Target $130
UBSW
Buy
Tableau price target raised to $130 from $114 at UBS
UBS analyst Jennifer Lowe raised her price target on Tableau to $130 from $114 following Q2 results. The analyst noted the ratable license mix came in at the high end of guidance and she believes the model transition is becoming better understood while competitive fears have eased. Lowe reiterated her Buy rating on Tableau shares.
08/03/18
DBAB
08/03/18
NO CHANGE
Target $125
DBAB
Buy
Tableau target raised to $125 on 'solid' Q2 results at Deutsche Bank
Deutsche Bank analyst Karl Keirstead raised his price target for Tableau Software to $125 from $120 saying the company reported "solid" Q2 results that met, but didn't materially exceed, Street expectations. The analyst did not pick up any "downtick in Tableau's tone" on his post-earnings call with management. He keeps a Buy rating on the shares.
08/02/18
MUFG
08/02/18
NO CHANGE
Target $95
MUFG
Neutral
Tableau price target raised to $95 from $80 at MUFG
MUFG analyst Stephen Bersey raised his price target on Tableau to $95 after its Q2 earnings beat, saying the strong quarter was highlighted by enterprise demand and continued subscription transition momentum. Despite the short-term noise in ASC 606 accounting transition, the analyst states that Tableau's fundamentals are strong and the company is well positioned in the analytics space. Bersey keeps his Neutral rating on the stock.
SEND SendGrid
$34.20

-0.51 (-1.47%)

10/16/18
PIPR
10/16/18
NO CHANGE
Target $85
PIPR
Overweight
Twilio should be bought on SendGrid deal pullback, says Piper Jaffray
Piper Jaffray analyst Alex Zukin says Twilio's (TWLO) acquisition of SendGrid (SEND) "makes a tremendous amount of sense." The combination creates a complete product portfolio targeting developers, with the potential for meaningful revenue synergies over time, Zukin tells investors in a research note. The analyst recommends buying Twilio on the post-deal selloff and reiterates an Overweight rating on the name with an $85 price target.
10/16/18
FANA
10/16/18
DOWNGRADE
FANA
Outperform
SendGrid downgraded to Outperform from Strong Buy at First Analysis
First Analysis analyst David Gearhart downgraded SendGrid (SEND) to Outperform following the announcement that Twilio (TWLO) is acquiring the company. The analyst thinks combining Twilio and SendGrid, with their respective leadership positions in text and email communication, is a "logical move." Investors are best served holding SendGrid shares through the anticipated first half of 2019 exchange, Gearhart tells investors in a research note.
10/16/18
STFL
10/16/18
DOWNGRADE
STFL
Hold
SendGrid downgraded to Hold from Buy at Stifel
Stifel analyst Tom Roderick downgraded SendGrid (SEND) to Hold from Buy following the announcement of the company's agreement to be acquired by Twilio (TWLO), suggesting investors take profits on the 19% premium and reassess the combined entity in the coming months. The analyst said the strategic rationale "makes all the sense in the world," as he views this as a way for Twilio to acquire its way into email, as opposed to building organically. Roderick also views this deal as the latest case of "let's take one expensive piece of currency and acquire another expensive piece of currency," he tells investors.
10/16/18
BARD
10/16/18
NO CHANGE
Target $82
BARD
Outperform
Twilio weakness a buying opportunity, says Baird
Baird analyst William Power noted Twilio (TWLO) announced the acquisition of email company SendGrid (SEND). He views the transaction as a strong strategic fit and he is positive on the long-term opportunity. He said the recent market weakness and the afterhours selloff following the acquisition announcement is a buying opportunity. Power maintains an $82 price target and Outperform rating on Twilio shares, which are down about 5% to $72.50 in pre-market trading.
PLNT Planet Fitness
$47.43

0.36 (0.76%)

10/16/18
DADA
10/16/18
NO CHANGE
Target $58
DADA
Buy
Planet Fitness Q3 poised for more earnings and revenue growth, says DA Davidson
DA Davidson analyst Michael Kawamoto kept his Buy rating and $58 price target on Planet Fitness ahead of its Q3 results, saying the company is "poised for continued top and bottom line growth" as well as a potential guidance raise. The analyst notes that Planet Fitness is well positioned with an "un-matched brand recognition and robust underlying momentum" that give him confidence in its ability to "deliver" on its growth strategy. With limited exposure to mainland China, Kawamoto also states that the company is "largely immune" from the broader trade issues weighing on some of the other related companies under his coverage.
08/13/18
JPMS
08/13/18
DOWNGRADE
Target $50
JPMS
Neutral
Planet Fitness downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst John Ivankoe downgraded Planet Fitness to Neutral while raising his price target for the shares to $50 from $38. The analyst sees limited upside following the recent rally in the shares. He cites valuation for the downgrade to Neutral.
08/10/18
BARD
08/10/18
NO CHANGE
Target $56
BARD
Outperform
Planet Fitness price target raised to $56 from $50 at Baird
Baird analyst Jonathan Komp raised his price target on Planet Fitness to $56 from $50 following Q2 results. The analyst said the fundamentals remain strong, citing its better than expected comps and unit growth. He said he remains a buyer, especially on pullbacks. Komp reiterated his Outperform rating on Planet Fitness shares.
11/05/18
PIPR
11/05/18
NO CHANGE
Target $61
PIPR
Overweight
Planet Fitness called a favorite SMID cap idea at Piper Jaffray
Piper Jaffray analyst Peter Keith reiterates an Overweight rating on Planet Fitness with a $61 price target ahead of what he thinks will be positive Q3 results tomorrow. The company "checks off all the boxes for Consumer-oriented names to own in a volatile, late bull market with rising interest rates," Keith tells investors in a pre-earnings research note. Planet Fitness has little/no tariff exposure, no interest rate exposure and a "steady" subscription model with automatic recurring monthly payments, says the analyst. Keith calls Planet Fitness his favorite SMID cap idea.
CORV Correvio
$3.62

0.05 (1.40%)

10/10/18
ADAM
10/10/18
NO CHANGE
Target $8
ADAM
Buy
Correvio weakness a buying opportunity, says Canaccord
Canaccord analyst Dewey Steadman said the recent weakness in Correvio is a buying opportunity as he sees no negative news on the story. The analyst said the company has an FDA meeting this month to discuss the path forward for Brinavess and he is very positive on the potential for news and sees it as a positive catalyst. Steadman reiterated his Buy rating and $8 price target on Correvio shares.
EVRI Everi Holdings
$7.45

0.04 (0.54%)

10/11/18
JEFF
10/11/18
NO CHANGE
JEFF
International Game, Everi pullbacks bring buying opportunity, says Jefferies
After attending the Global Gaming Expo, Jefferies analyst David Katz believes "broadly stronger" product offerings should be positive for Gaming stocks. The recent weakness in shares of International Game Technology (IGT) and Everi Holdings (EVRI), who both have "strong prospects," present buying opportunities, Katz tells investors in research note. He also believes PlayAGS' (AGS) relative outperformance is justified as its "growth opportunities warrant the premium multiple." Further, the analyst thinks Scientific Games (SGMS) has been overly pressured by a series of negative catalysts, "all of which should stabilize in time." The company's products "are too good for the shares' decline not to correct," Katz contends.
09/13/18
STFL
09/13/18
INITIATION
Target $13
STFL
Buy
Everi Holdings resumed with a Buy at Stifel
Stifel analyst Brad Boyer resumed coverage of Everi Holdings with a Buy rating and $13 price target. The company's current segment-level valuation "reflects a significant discount" when compared to prevailing public market multiples within the Gaming Equipment and Payments sectors, Boyer tells investors in a research note. He sees several potential catalysts that could narrow the valuation gap, including Everi's analyst day and the upcoming Global Gaming Expo. The analyst views the stock as a "one of the most compelling return opportunities for value investors of all varieties."
03/13/18
TLSY
03/13/18
INITIATION
TLSY
Outperform
Everi Holdings initiated with an Outperform at Telsey Advisory
02/20/18
JEFF
02/20/18
INITIATION
Target $11
JEFF
Buy
Everi Holdings initiated with a Buy at Jefferies
Jefferies analyst David Katz started Everi Holdings with a Buy rating and $11 price target. The analyst views the company's "stable" payments business with the double-digit growing gaming machine business as "financially compelling given the positive dynamics of the casino industry."
CPE Callon Petroleum
$10.39

-0.115 (-1.09%)

06/14/18
IMPC
06/14/18
NO CHANGE
IMPC
Outperform
Imperial Capital sees attractive valuations for Permian names
The market has overreacted to the "inevitable traffic jams and competition for outbound transportation" taking place in the Permian region, Imperial Capital analysts Irene Haas and Jason Wangler tells investors in a research note. Following conversations with industry participants in both the upstream and midstream arenas of the Permian Region, the analysts believes relief for oil could materialize in early 2019. They sees a "handful of high quality Permian names at attractive valuations," including Diamondback Energy (FANG), Resolute Energy (REN), Ring Energy (REI), Callon Petroleum (CPE), Matador Resources and PDC Energy (PDCE).
08/29/18
LEHM
08/29/18
INITIATION
Target $14
LEHM
Overweight
Callon Petroleum initiated with an Overweight at Barclays
Barclays analyst Jeanine Wai started Callon Petroleum with an Overweight rating and $14 price target. The analyst initiated coverage of eight large-cap and three smid-cap Exploration & Production companies in the North America oil & gas industry with a Positive view. Increased capital discipline, technology-driven efficiency gains, "fortified" balance sheets and a supportive oil price outlook should drive improving shareholder returns and stock price performance, Wai tells investors in a research note.
09/26/18
SBSH
09/26/18
NO CHANGE
SBSH
Citi opens catalyst watch for Callon Petroleum, Jagged Peak Energy
Citi analyst Robert Morris opened a catalyst watch for Callon Petroleum (CPE) and Jagged Peak Energy (JAG) with regard to the University Lands sealed-bid lease sale on August 19. Results are expected within the next week, the analyst tells investors in a research note. While the sale includes leases in both the Delaware and Midland Basins, Morris believes the acreage in Ward County holds the highest implications for the two companies.
10/02/18
OPCO
10/02/18
INITIATION
OPCO
Outperform
Callon Petroleum initiated with an Outperform at Oppenheimer
Oppenheimer analyst Tim Rezvan initiated Callon Petroleum with an Outperform rating and $16 price target.
XOG Extraction Oil & Gas
$8.70

-0.01 (-0.11%)

08/07/18
08/07/18
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. Zillow (Z, ZG) downgraded to Neutral from Buy at BofA/Merrill with analyst Nat Schindler saying the quarter indicated Zillow is taking longer than expected to ramp up the Homes business, Rentals revenue missed and the outlook cut, and other revenue also missed, indicating new construction opportunity is also taking longer to materialize. 2. CBS (CBS) downgraded to Hold from Buy at Argus with analyst Joseph Bonner citing significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIAB) merger. 3. Extraction Oil & Gas (XOG) downgraded to Neutral from Outperform at Macquarie with analyst Paul Grigel citing increased risk from Colorado Initiative 97. 4. Wynn Resorts (WYNN) downgraded to Hold from Buy at Argus with analyst John Staszak citing its Q2 earnings miss, saying the gross gaming revenue in Macau has now missed consensus forecasts for the months of June and July. 5. Dentsply Sirona (XRAY) downgraded to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/18
MACQ
08/07/18
DOWNGRADE
MACQ
Neutral
Extraction Oil & Gas downgraded to Neutral from Outperform at Macquarie
05/04/18
05/04/18
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Pieris Pharmaceuticals (PIRS) initiated with an Outperform at Cowen. 2. Extraction Oil & Gas (XOG) and ConvergeOne (CVON) were initiated with an Overweight 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.
08/07/18
MACQ
08/07/18
DOWNGRADE
MACQ
Neutral
Extraction Oil & Gas downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Paul Grigel downgraded Extraction Oil & Gas to Neutral and reduced its price target to $17 from $19 given increased risk from Colorado Initiative 97. The initiative establishes a minimum setback of oil and gas wells to 2,500 feet from the current 500 feet for homes and 1,000 feet for schools. Grigel said the initiative faces an uphill battle, but recent changes in Colorado's population, high profile events, increased Democratic party support, and a wild card national election creates more uncertainty.
GHDX Genomic Health
$70.75

-0.2 (-0.28%)

06/13/18
LTCO
06/13/18
DOWNGRADE
LTCO
Neutral
Genomic Health downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst Kevin DeGeeter downgraded Genomic Health to Neutral due to valuation with the shares above his previous price target of $49.50.
09/25/18
PIPR
09/25/18
NO CHANGE
PIPR
Piper sees early winners from annual list of new codes from CMS
The Centers for Medicare & Medicaid Services published its annual list of new codes ahead of the final rate determination including 99 codes, Piper Jaffray analyst William Quirk tells investors in a research note. He says Genomic Health (GHDX), LabCorp (LH), Myriad Genetics (MYGN), Natera (NTRA) and Quest Diagnostics (DGX) look like early winners in the 2019 Preliminary Clinical Laboratory Fee Schedule Fee Schedule determinations, with an incrementally positive competitive move for CareDx (CDNA). The analyst notes that Genomic Health received increased reimbursement for a couple tests and CareDx competitor TAI Diagnostics ends up with a likely longer pathway to reimbursement.
06/04/18
ADAM
06/04/18
NO CHANGE
Target $45
ADAM
Buy
Genomic Health price target raised to $45 from $41 at Canaccord
Canaccord analyst Mark Massaro raised his price target on Genomic Health to $45 from $41 following the release of its historic TAILORx trial, which is the largest breast cancer treatment trial ever conducted. The data showed some incremental boost to Onctoype Dx volumes and the trial established that chemo may provide life-saving benefit to 30% of patients. Massaro reiterated his Buy rating on Genomic Health shares.
10/23/18
RAJA
10/23/18
INITIATION
RAJA
Market Perform
Genomic Health initiated with a Market Perform at Raymond James
Raymond James analyst John Hsu initiated Genomic Health with a Market Perform saying near-term growth is partly dependent on coverage decisions with lack of visibility.
DIOD Diodes
$31.01

0.1 (0.32%)

09/19/18
SIDC
09/19/18
UPGRADE
SIDC
Buy
Diodes upgraded to Buy from Neutral at Sidoti
04/19/18
04/19/18
UPGRADE
Target $37

Buy
Diodes upgraded to Buy on rising demand, pricing at Longbow
As previously reported, Longbow upgraded Diodes to Buy from Neutral with a $37 price target. Analyst Shawn Harrison expects rising demand, pricing, and Pericom growth to drive sales, gross margins, and earnings higher. In addition, Diodes should have a net positive cash position in 2H 2018, creating balance sheet flexibility for M&A, the analyst wrote in a note to investors.
04/19/18
04/19/18
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. Walmart (WMT) upgraded to Buy from Hold at Argus with analyst Christopher Graja saying he believes an improving job market should help low-and-middle-income shoppers spend more. 2. Sprint (S) upgraded to Neutral from Underperform at Macquarie. 3. iRobot (IRBT) upgraded to Overweight from Neutral at Piper Jaffray with analyst Troy Jensen saying tracking data shows iRobot is experiencing "exceptionally strong demand in North America." 4. Diodes (DIOD) upgraded to Buy from Neutral at Longbow with analyst Shawn Harrison saying he expects rising demand, pricing, and Pericom growth to drive sales, gross margins, and earnings higher. 5. Texas Capital (TCBI) upgraded to Overweight from Neutral at Piper Jaffray with analyst Brett Rabatin saying he sees Texas Capital outperforming peers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/07/18
SIDC
06/07/18
DOWNGRADE
SIDC
Neutral
Diodes downgraded to Neutral from Buy at Sidoti
RPD Rapid7
$33.57

-0.61 (-1.78%)

04/13/18
BTIG
04/13/18
INITIATION
Target $34
BTIG
Buy
Rapid7 initiated with a Buy at BTIG
BTIG analyst Joel Fishbein initiated Rapid7 with a Buy and $34 price target telling investors it has successfully evolved to an end to end provider of security and IT analytics and automation solutions fro SecOps from a niche vulnerability management vendor. Fishbein said the transition to a subscription model provides investors with visibility into profitability next year, reducing a major overhang.
05/09/18
KEYB
05/09/18
NO CHANGE
Target $35
KEYB
Overweight
Rapid7 price target raised to $35 from $30 at KeyBanc
KeyBanc analyst Rob Owens raised his price target for Rapid7 to $35 from $30, citing "strong" Q1 results, supported by accelerating ARR growth to 38% and raised revenue guidance. The analyst reiterates an Overweight rating on the shares.
06/18/18
BTIG
06/18/18
DOWNGRADE
BTIG
Neutral
Rapid7 downgraded to Neutral from Buy at BTIG
BTIG analyst Joel Fishbein downgraded Rapid7 to Neutral from Buy, saying the valuation on the stock has become less compelling at an enterprise value to expected FY20 free cash flow multiple of 28-times. The analyst notes that he is still positive on the company's transformation into a "comprehensive platform for security, IT analytics and SecOps automation solutions" as well as its transition to a subscription based revenue model, but adds that further increases in the stock price would require Rapid7 to exceed its 2020 targets.
04/10/18
DADA
04/10/18
INITIATION
DADA
Neutral
Rapid7 initiated with a Neutral at DA Davidson
DA Davidson analyst Mark Kelleher initiated Rapid7 with a Neutral rating and a $28 price target, saying that while he views the company as well positioned for long-term growth, he believes that growth is already reflected in the current stock price.
FTK Flotek
$1.87

-0.04 (-2.09%)

08/08/18
GHSC
08/08/18
DOWNGRADE
GHSC
Neutral
Flotek downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst Mike Urban downgraded Flotek to Neutral from Buy following the Q2 miss. Urban said "everything that could have gone wrong did" as the company missed "badly" on revenue and margins. The analyst does not see any positive catalysts in the short-to-intermediate term and said shares will likely be "dead money" at best until results improve.
PZZA Papa John's
$53.47

-1.03 (-1.89%)

10/10/18
BTIG
10/10/18
NO CHANGE
Target $102
BTIG
Buy
Yum! Brands price target raised to $102 from $92 at BTIG
BTIG analyst Peter Saleh raised his price target on Yum! Brands (YUM) to $102 and kept his Buy rating, citing his greater confidence in the company's unit growth trends and potential for driving same-store sales gains. In the short run, the analyst points to the benefits coming from its Pizza Hut business and its partnership with the NFL, its new advertising campaign, and the potential market share gains from sales declines at Papa John's (PZZA). Longer term, Saleh sees "stronger international unit growth after the closing of the Telepizza master franchise deal "which should drive unit growth closer to 4.0%", along with benefits coming from all of Yum's segments' partnership with GrubHub (GRUB).
10/10/18
MAXM
10/10/18
NO CHANGE
Target $305
MAXM
Hold
Domino's Pizza price target raised to $305 from $285 at Maxim
Maxim analyst Stephen Anderson raised his price target on Domino's Pizza (DPZ) to $305 after its investor meeting with the management last week, saying the company is "building a global fortress" and remains "unfazed" by competition. The analyst says Domino's Pizza should sustain its "best in class" performance in spite of the woes experienced by Papa John's (PZZA) and Pizza Hut (YUM) as it seeks more operational efficiencies on a "global scale" even though it may take a few quarters for cost savings to materialize. Anderson keeps his Hold rating on the shares, awaiting a deeper pullback before considering a more bullish stance.
10/15/18
LBOW
10/15/18
NO CHANGE
LBOW
Buy
Papa John's U.S. comps began to recover in mid-September, says Longbow
Longbow analyst Alton Stump believes, based on his talks with Papa John's franchisees, that U.S. same-store sales began to recover in mid-September and to-date in October, which could drive upside for both its earnings and the stock's multiple. Same-store sales, which were down 11.5%-12% in August, recovered to a 9%-9.5% decline in September and a 7.5%-8% decline in October to-date, Stump estimates. He keeps a Buy rating on Papa John's shares.
10/11/18
STFL
10/11/18
NO CHANGE
Target $48
STFL
Hold
Papa John's price target raised to $48 at Stifel on higher odds of deal
Stifel analyst Chris O'Cull said he has a "conflicted" view on Papa John's because fundamentals remain poor, but this has likely motivated the board to move quickly to take advantage of a "white-hot restaurant M&A market." While stating he has "no knowledge of a potential M&A transaction," O'Cull believes a strategic acquirer seems more likely than financial sponsor given the latter would be difficult due to the level of equity investment required. O'Cull keeps a Hold rating on Papa John's shares, but raised his price target to $48 from $38 to reflect what he sees as a higher probability of a deal occurring.
NEWR New Relic
$85.99

-0.06 (-0.07%)

10/29/18
MSCO
10/29/18
NO CHANGE
MSCO
IBM deal reinforces Morgan Stanley confidence in Hybrid Cloud emergence
After IBM (IBM) announced its intention to acquire Red Hat (RHT) for about $34B in a deal with an over 60% premium to Red Hat's Friday closing price, Morgan Stanley analyst Keith Weiss said the announcement reinforced both his confidence in the emergence of Hybrid Cloud architectures and the strength of IT spending into 2019. Red Hat has been Microsoft's (MSFT) primary competitor within server operating systems, and has generally been taking share, said Weiss, who thinks the longer-term opportunity or threat for Microsoft hinges on the ability of IBM to execute well and maintain the open source enthusiasm around the Red Hat distributions. For VMware (VMW) and Pivotal Software (PVTL), while Weiss sees little near-term impact, he adds that the proposed combination would likely result in a fiercer competitive environment going forward. For New Relic (NEWR), he sees little direct competitive impacts from the proposed merger. Given HortonWorks' (HDP) strong existing ties to IBM, Cloudera (CLDR) could benefit by becoming a preferred data management vendor within the OpenShift ecosystem, Weiss added.
10/23/18
DADA
10/23/18
UPGRADE
Target $105
DADA
Buy
New Relic upgraded to Buy at DA Davidson on valuation
As reported earlier, DA Davidson analyst Rishi Jaluria upgraded New Relic to Buy from Neutral and kept his price target at $105. The analyst attributes the rating change to valuation, saying the 24% pullback in the company's stock price has created an "attractive entry point". Jaluria is also positive on New Relic prospects and expects it to remain a "prime beneficiary of the ongoing trend of digital transformation" while noting that investor concerns around the competitive pressures may be "too severe".
10/23/18
DADA
10/23/18
UPGRADE
DADA
Buy
New Relic upgraded to Buy from Neutral at DA Davidson
10/10/18
WEDB
10/10/18
NO CHANGE
Target $116
WEDB
Outperform
New Relic price target lowered to $116 from $126 at Wedbush
Wedbush analyst Steve Koenig lowered his price target for New Relic to $116 from $126, while reiterating an Outperform rating on the shares. The analyst notes that the sharp correction in high-growth software has been particularly hard on New Relic, which is down 16% in the last 30 days. A big Q1 beat creates heightened expectations for Q2, but strong demand conditions for NEWR should produce a "satisfactory result," he contends. Koenig expects New Relic to sustain a high growth rate with only moderate deceleration, based on a long runway for penetrating enterprise accounts with developer-friendly, cloud-based offerings.
XEC Cimarex Energy
$83.12

-0.33 (-0.40%)

09/07/18
RHCO
09/07/18
DOWNGRADE
Target $94
RHCO
Hold
Cimarex Energy downgraded to Hold at SunTrust on Permian exposure
As reported earlier, SunTrust analyst Neal Dingmann downgraded Cimarex Energy to Hold from Buy and lowered his price target to $94 from $130, saying the company's "conservative" operating nature requires investors to assimilate to "lumpier" production results. The analyst is also concerned about the company's heavy exposure to the Permian basin differential issues. Dingmann contends that while the stock price has fallen 32% year-to-date, it still trades at a premium to its peer group on enterprise value to expected EBITDA basis.
10/17/18
WOLF
10/17/18
UPGRADE
WOLF
Outperform
Cimarex Energy upgraded to Outperform from Peer Perform at Wolfe Research
09/27/18
PIPR
09/27/18
INITIATION
PIPR
Neutral
Cimarex Energy assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Ryan Todd assumed coverage of Climarex Energy with a Neutral rating and a $114 price target.
09/07/18
RHCO
09/07/18
DOWNGRADE
RHCO
Hold
Cimarex Energy downgraded to Hold from Buy at SunTrust
SUPN Supernus
$41.84

0.13 (0.31%)

09/18/18
09/18/18
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. Walmart (WMT) initiated with an Outperform at BMO Capital while Target (TGT) was initiated with a Market Perform. 2. Apache (APA) initiated with an Overweight at Stephens. 3. Supernus (SUPN) initiated with a Buy at Mizuho. 4. Transocean (RIG) initiated with a Buy at BTIG. 5. Noble initiated with a Neutral at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/29/18
MZHO
10/29/18
NO CHANGE
Target $61
MZHO
Buy
Supernus risk/reward favorable into data catalyst, says Mizuho
Mizuho analyst Irina Koffler views Supernus Pharmaceuticals' risk/reward as favorable into the Q4 Phase III adult attention-deficit/hyperactivity disorder read-out for SPN-812. The Phase IIb efficacy data for SPN-812 was similar to approved drugs, and the Phase III study design did not introduce any novel changes to a well-established blueprint for approval, Koffler tells investors in a research note. She reiterates a Buy rating on Supernus with a $61 price target.
09/18/18
MZHO
09/18/18
INITIATION
Target $61
MZHO
Buy
Mizuho starts Supernus with Buy rating, $61 price target
Mizuho analyst Irina Koffler last night initiated coverage of Supernus Pharmaceuticals with a Buy rating and $61 price target. The company, with a "promising" pipeline that can drive growth through pending Trokendi XR competition in migraine, is well positioned in an attractive market, Koffler told investors in a research note.
09/17/18
MZHO
09/17/18
INITIATION
Target $61
MZHO
Buy
Supernus initiated with a Buy at Mizuho
Mizuho initiated Supernus with a Buy and $61 price target.
PXD Pioneer Natural
$148.86

0.61 (0.41%)

10/29/18
IFSG
10/29/18
INITIATION
Target $195
IFSG
Outperform
Pioneer Natural initiated with an Outperform at IFS Securities
IFS Securities analyst Eli Kantor started Pioneer Natural Resources with an Outperform rating and $195 price target. The company's "peer-leading inventory of top-tier undeveloped locations" should drive top-decile capital efficiency metrics for the next 10-plus years, Kantor tells investors in a research note.
10/10/18
GHSC
10/10/18
DOWNGRADE
GHSC
Neutral
Pioneer Natural downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst John Aschenbeck downgraded Pioneer Natural to Neutral from Buy and trimmed its price target to $210 from $230 citing increased FY19 capex expectations. Aschenbeck believes Pioneer's FY19 capex is on a trajectory for a "hefty" $4.13B, 15% above the consensus average, with FY19 production outlook approximately inline with Street expectations. The analyst now expects subpar debt-adjusted production CAGR versus peers and a relatively light free cash flow yield through 2020.
10/02/18
OPCO
10/02/18
INITIATION
OPCO
Perform
Pioneer Natural initiated with a Perform at Oppenheimer
Oppenheimer analyst Tim Rezvan initiated Pioneer Natural with an Perform rating.
09/27/18
PIPR
09/27/18
INITIATION
PIPR
Overweight
Pioneer Natural assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Ryan Todd assumed coverage of Pioneer Natural with an Overweight rating and a $274 price target.
PUMP ProPetro Holding
$17.29

-0.46 (-2.59%)

10/17/18
BOFA
10/17/18
NO CHANGE
BOFA
BofA/Merrill reinstating Oilfield Services coverage with Halliburton as top pick
BofA analyst Chase Mulvehill reinstated coverage of U.S. onshore and diversified oilfield service, or OFS, saying he has a bullish near-to-medium term view on the sector. The analyst notes that OFS should outperform thanks to rising oil prices that should lead to "solid" cash flows across the sector. Mulvehill further anticipates investment to increase across the industry, with North America land E&P spending surprising to the upside and U.S. onshore D&C spending rising nearly 20%. The analyst also sees "Permian pipeline relief" adding to the benefits with exposure to the basin. Mulvehill's Top Pick is Halliburton (HAL), and his other Buy-rated names include Baker Hughes (BHGE), C&J Energy Services (CJ), FTS International (FTSI), Keane Group (FRAC), Nabors Industries (NBR), Nine Energy Service (NINE), Patterson-UTI Energy (PTEN), ProPetro Holdings Corp (PUMP), and Schlumberger (SLB).
10/10/18
WOLF
10/10/18
INITIATION
Target $24
WOLF
Outperform
ProPetro Holding initiated with an Outperform at Wolfe Research
Wolfe Research initiated ProPetro Holding with an Outperform and $24 price target calling it a "top pumping idea."
09/10/18
STFL
09/10/18
INITIATION
Target $18
STFL
Buy
ProPetro Holding initiated with a Buy at Stifel
Stifel analyst Stephen Gengaro initiated ProPetro Holding with a Buy rating and a price target of $18. The analyst cites the company's "rock-solid balance sheet" and expectations of "strong free cash flow" in 2019-20 driven by its "dedicated agreements with high-quality customers" that may offset some of the short-term pricing pressure.
10/17/18
BOFA
10/17/18
INITIATION
Target $22
BOFA
Buy
ProPetro Holding initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill initiated ProPetro Holding with a Buy rating and a price target of $22.
CCS Century Communities
$21.54

-0.21 (-0.97%)

07/06/18
WEDB
07/06/18
NO CHANGE
Target $42
WEDB
Outperform
Century Communities shares undervalued at current levels, says Wedbush
Wedbush analyst Jay McCanless reiterated an Outperform rating on Century Communities, telling investors in a research note that last month's acquisition of the remaining 50% of Wade Jurney expands the company even deeper into the entry-level/affordable housing space. McCanless says that, at current levels, Century Communities trades at 6.8x his FY19E adjusted EPS of $4.68 vs. the group average of 8.3x, and while he does not see a current or future catalyst for this disparity, he views the shares as undervalued at these levels. The next catalyst for shares should be the June quarter report in early August, he says. The analyst has a $42 price target on shares.
10/29/18
WEDB
10/29/18
NO CHANGE
Target $30
WEDB
Outperform
Century Communities price target lowered to $30 from $42 at Wedbush
Wedbush analyst Jay McCanless lowered his price target for Century Communities to $30 from $42 solely due to his shift to a FY20 valuation range from a FY19 valuation. At current levels, the analyst believes the shares appear to have priced in a slower demand environment. He reiterates an Outperform rating on the shares.
09/21/18
JPMS
09/21/18
DOWNGRADE
Target $31.5
JPMS
Neutral
Century Communities downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Rehaut downgraded Century Communities to Neutral and lowered his price target for the shares to $31.50 from $38.50. The analyst believes the stock's "premium" valuation appropriately reflects the company's recent, solid track record of growth and integration of acquisitions.
06/20/18
ZELM
06/20/18
INITIATION
ZELM
Hold
Century Communities initiated with a Hold at Zelman
AAXN Axon
$60.04

-0.34 (-0.56%)

10/08/18
BARD
10/08/18
NO CHANGE
Target $69
BARD
Neutral
Axon product launch in mid-2019 may reduce current sales, says Baird
After attending law enforcement conference IACP this weekend, Baird analyst William Power remains positive on Axon Enterprise's Taser upgrade opportunity. The company this weekend unveiled a major new Taser and body camera and announced bundled pricing that effectively includes the highly anticipated RMS software product for free on a promotional basis, Power tells investors in a research note. The analyst, however, wonders if the mid-2019 launch timeline for the new body camera could reduce current camera sales. Power keeps a Neutral rating on Axon with a $69 price target citing valuation.
10/22/18
KING
10/22/18
NO CHANGE
KING
Neutral
Body camera explosion may lead to switching to Axon cameras, says CL King
CL King analyst George Godfrey said the explosion of a body camera worn by a New York police officer could cause the NYPD to re-compete the body camera contract, but he finds it important to note it was not an Axon manufactured camera that exploded, but one issued by VIEVU. This incident could motivate both Axon and users of the VIEVU camera to switch to an Axon camera sooner, rather than later, said the analyst, who keeps a Neutral rating on Axon shares due to valuation.
10/22/18
BARD
10/22/18
NO CHANGE
Target $69
BARD
Neutral
Body camera incident could accelerate transition to Axon cameras, says Baird
Following media reports that a body camera supplied by Vievu, which was acquired by Axon, caught fire after a New York police officer removed it, Baird analyst William Power said it is not clear to what degree this could hurt Axon's relationship with the NYPD. Longer-term, he wonders if the incident could accelerate a transition to Axon body cameras and platforms, which could be a positive over time. Power maintains a Neutral rating and $69 price target on Axon shares, which are down 2.5% to $57.04 in early trading.
10/15/18
LTCO
10/15/18
DOWNGRADE
LTCO
Neutral
Axon downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst Glenn Mattson downgraded Axon Enterprise to Neutral.
RIGL Rigel Pharmaceuticals
$2.90

-0.03 (-1.02%)

10/29/18
HCWC
10/29/18
NO CHANGE
Target $7.5
HCWC
Buy
Rigel inked Asian partnership well ahead of schedule, says H.C. Wainwright
Rigel Pharmaceuticals this morning announced that it entered into a Tavalisse partnership with Kissei Pharmaceuticals to develop and commercialize the drug in Japan, China, Taiwan, and the Republic of Korea, H.C. Wainwright analyst Joseph Pantginis tells investors in a research note. The company had been projecting Asian and European partnerships by mid-2019, and the first has now been delivered well ahead of schedule, says the analyst. He believes Rigel is also likely to deliver on the Europe deal ahead of schedule as well. The analyst reiterates a Buy rating on Rigel Pharmaceuticals with a $7.50 price target.
10/29/18
PIPR
10/29/18
NO CHANGE
Target $8
PIPR
Overweight
Piper remains buyer of Rigel after Tavalisse deal for Asia
Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on Rigel Pharmaceuticals with an $8 price target following this morning's announcement that an agreement has been reached with Kissei Pharmaceutical to bring Tavalisse to market in Asia. The analyst expected a deal like this, but not until the first half of 2019. He's "encouraged "by Tavalisse's continued progress and remains a buyer of Rigel Pharmaceuticals shares.
10/04/18
PIPR
10/04/18
NO CHANGE
Target $8
PIPR
Overweight
Rigel Pharma Analyst Day saw 85% tavalisse refill rate, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $8 price target on Righer Pharmaceuticals after the company's Analyst Day. He says the presentation indicated utilization of Tavalisse across all lines and a 85% refill rate, suggesting that the drug had higher demand than anticipated. Raymond contends that the launch so far has been successful while also pointing to the company's "positive progress for fostamatinib in AIHA and other pipeline products".
10/15/18
PIPR
10/15/18
NO CHANGE
PIPR
Piper lists names to own in Biopharma after recent selloff
Piper Jaffray's biopharma analyst team highlighted names to own in the Biopharma sector following the recent selloff of the broader market. The firm's ideas include: Adamas Pharmaceuticals (ADMS), Agios Pharmaceuticals (AGIO), Agios Pharmaceuticals (ALNY), Alexion (ALXN), Bluebird Bio (BLUE), BioMarin (BMRN), CymaBay (CBAY), Crispr Therapeutics (CRSP), Global Blood Therapeutics (GBT), Horizon Pharma (HZNP), Jazz Pharmaceuticals (JAZZ), Ocular Therapeutix (OCUL), Rigel Pharmaceuticals (RIGL) and Xencor (XNCR).
LC LendingClub
$3.65

0.165 (4.73%)

09/14/18
SPHN
09/14/18
NO CHANGE
SPHN
Subprime lenders weakness may be opportunity, says Stephens
Stephens analyst Vincent Caintic attributes weakness in shares of subprime consumer lenders to news that U.S. Bancorp (USB) is re-entering the small dollar, high yield lending business after Fifth Third (FITB) re-entered two months ago. However, he views the OCC's push for banks to offer small dollar loans as a positive for online lenders and notes that the recent bank announcements are for loans yielding 40%-70%, which competes against products from Regional Management (RM) and World Acceptance (WRLD) but should not impact online lenders. Subprime online lenders include Enova (ENVA) and Elevate Credit (ELVT). Other publicly traded companies in the FinTech space include LendingClub (LC) and On Deck Capital (ONDK).
07/19/18
07/19/18
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. NEEDHAM CUTS TESLA TO UNDERPERFORM: Needham analyst Rajvindra Gill downgraded Tesla (TSLA) to Underperform from Hold, stating the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. The analyst cited expectations of slower Model S/X sales amid increased competition and possible cannibalization from the Model 3, the expiration of credits, slower gross margins improvement with "persistently high" production costs, lower energy segment revenue after recent restructuring, and Tesla's "unsustainable capital structure." Tesla is down 1.9% in midday trading. CREDIT SUISSE UPGRADES SQUARE: Credit Suisse analyst Paul Condra upgraded Square (SQ) to Outperform from Neutral, saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants. He also said positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases. The analyst also raised his price target on the shares to $81 from $44. MORGAN STANLEY UPS SQUARE TARGET: Morgan Stanley analyst James Faucette sees good potential for upward estimate revisions for Square in the near-term and raised his price target on the stock to $75 from $43. However, Faucette kept an Equal Weight rating on Square, calling its valuation "demanding" and citing his continued view that new services are misvalued. Square is higher by 3.5% at midday. MORGAN STANLEY DOWNGRADES LENDINGCLUB, ON DECK: Morgan Stanley's Faucette downgraded LendingClub (LC) to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. Faucette lowered his price target on LendingClub shares to $5 from $6. Faucette downgraded On Deck Capital (ONDK) to Underweight from Equal Weight, stating that he sees the company needing a long time to meaningfully scale the "OnDeck-as-a-Service," which he believes will limit the stock's potential for valuation expansion above small-to-mid cap banks. Also, Faucette sees limited upside potential to origination growth estimates given the company's preference for delivering profitability versus growth, he tells investors. PIPER POSITIVE ON CISCO AND ARISTA, CALLS AMAZON FEARS OVERBLOWN: Amazon (AMZN) is not entering the network switching market as speculated on July 13, Piper Jaffray analyst James Fish told investors in a research note. The confirmation by Amazon removes the potential shadow of Amazon on the space. The analyst continued to recommend Cisco (CSCO) and Arista (ANET) as his top networking picks.
07/19/18
MSCO
07/19/18
DOWNGRADE
Target $5
MSCO
Equal Weight
LendingClub downgraded as FTC probe seen detering investors at Morgan Stanley
As previously reported, Morgan Stanley analyst James Faucette downgraded LendingClub to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. While its fundamentals are undervalued, there is also execution risk, added Faucette, who lowered his price target on LendingClub shares to $5 from $6.
07/19/18
MSCO
07/19/18
DOWNGRADE
MSCO
Equal Weight
LendingClub downgraded to Equal Weight from Overweight at Morgan Stanley
PAA Plains All American
$23.73

0.41 (1.76%)

09/23/18
STFL
09/23/18
UPGRADE
Target $28
STFL
Buy
Plains All American upgraded to Buy from Hold at Stifel
Stifel analyst Selman Akyol upgraded Plains All American to Buy from Hold and raised his price target on the stock to $28 from $26. The analyst notes that since downgrading the shares in early May, Plains beat his Q2 estimates, continued to guide to 14%-15% fee-based growth in 2019, sold 30% of BridgeTex to help fund an incremental $500M of spending and feedback from his Permian event was largely positive where the majority of Plains cash flows are generated. When coupling with this was largely unchanged unit price and better visibility into the company's improved financial positioning into 2019, Akyol believes incremental capital allocation is warranted.
10/10/18
FBCO
10/10/18
INITIATION
Target $30
FBCO
Outperform
Plains All American initiated with an Outperform at Credit Suisse
Credit Suisse analyst Spiro Dounis initiated Plains All American with an Outperform rating and a price target of $30.
09/24/18
09/24/18
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. Plains All American (PAA) and Plains GP Holdings (PAGP) were upgraded to Buy from Hold at Stifel. 2. Avon Products (AVP) upgraded to Buy from Neutral at DA Davidson with analyst Linda Bolton Weiser citing the increased "sense of urgency" under the new CEO Jan Zijderveld displayed in his first analyst meeting, demonstrating his greater engagement in the company's operations, hiring of executives with sales experience, and "establishing a culture of accountability." 3. United Natural Foods (UNFI) upgraded to Sector Perform at RBC Capital with analyst William Kirk saying while core business challenges for the company remain and the risk of the Supervalu acquisition integration continues, its 6.4-times earnings valuation likely accounts for these issues. 4. KVH Industries (KVHI) upgraded to Buy from Neutral at Chardan with analyst James McIlree saying he expects "continued strong growth" from its Agile Plans that should result in improved margins and increased financial predictability. 5. RELX (RELX) upgraded to Overweight from Equal Weight at Barclays with analyst Nick Dempsey saying he views the current valuation as attractive. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/18
STFL
09/23/18
UPGRADE
Target $28
STFL
Buy
Plains GP Holdings upgraded to Buy from Hold at Stifel
Stifel analyst Selman Akyol upgraded Plains GP Holdings (PAGP) to Buy from Hold and raised his price target to $28 from $26. The analyst notes that Plains GP Holdings is a tracking stock to Plains All American Pipeline (PAA), which was also upgraded to Buy at Stifel.
INFN Infinera
$6.23

-0.04 (-0.64%)

10/22/18
STFL
10/22/18
INITIATION
Target $8
STFL
Hold
Infinera resumed with a Hold at Stifel
Stifel analyst John Marchetti resumed Infinera with a Hold rating and a price target of $8, saying that while its acquisition of Coriant represents a "strategic positive", the investment comes with some operational risk. The analyst note that he is still "concerned about the revenue growth, margin outlook and profitability of the combined company", but prepared to turn more constructive with increased visibility.
10/01/18
10/01/18
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. OPCO CUTS CHIPOTLE TO UNDERPERFORM: Oppenheimer analyst Brian Bittner downgraded Chipotle Mexican Grill (CMG) to Underperform from Perform with a $400 price target. Since its new CEO announcement in February, Chipotle is up 82% and has been upgraded 10 different times by the Street, Bittner noted. The company's "high-flying" valuation has "priced in" persistent mid-single same-store-sales and a path to at least $20 of earnings per share versus $8-$9 this year, the analyst added. His work suggests this earnings path is too optimistic, even when assuming "healthy sales." INTEL CUT TO UNDERWEIGHT BY BARCLAYS: Barclays analyst Blayne Curtis downgraded Intel (INTC) to Underweight from Equal Weight and lowered his price target for the shares to $38 from $53. End-market tailwinds that propelled the run in shares, namely PC shortages and the slowing of server growth, are likely to reverse, Curtis believes. Further, the analyst expects Intel will see increased competition from AMD (AMD) and declining free cash flow returns. In addition, the names that have been floated in the CEO search "have yet to yield any disruptive potential candidates to take on all of these challenges," Curtis said. By squandering its manufacturing lead, the company now faces a "costly battle to retain share amidst a near-term slowing of its end markets," concluded the analyst. MKM CUTS INFINERA TO SELL: MKM Partners analyst Michael Genovese downgraded Infinera (INFN) to Sell from Neutral and lowered his price target to $5.50 from $10. The analyst said his checks suggest the company's loss of its biggest customer CenturyLink (CTL) to Ciena (CIEN) amid concerns with its ability to produce "new leading edge digital signal processors every 18-30 months". Genovese expects Infinera's upcoming guidance for Q4 and FY19 to be disappointing on revenues and margins, while his price target that assumes a valuation multiple of 0.8-times enterprise value to expected FY19 sales "reflects increasing concerns about the long-term competitiveness of the company." TEVA UPGRADED AT LEERINK, GOLDMAN: Leerink analyst Ami Fadia upgraded Teva (TEVA) to Market Perform from Underperform due to improving business fundamentals as well as the improving multiples for the overall generics sector. The analyst, who believes the company's fundamentals have improved meaningfully and put Teva in a position to pay down $3.5B in debt by YE18, raised his price target on the shares to $24 from $16. Meanwhile, Goldman Sachs analyst Jami Rubin added Teva to Goldman's Conviction List with a Buy rating, calling the recent selloff in the shares a "head scratcher." Recent concerns raised in the marketplace regarding second half of 2018 headwinds and Eli Lilly's (LLY) galcenuzemab approval were already expected and well understood, Rubin tells investors in a research note. DEUTSCHE CUTS LAM RESEARCH, APPLIED MATERIALS TO HOLD: Deutsche Bank analyst Sidney Ho downgraded Lam Research (LRCX) to Hold and lowered his price target for the shares to $170 from $230, and downgraded Applied Materials (AMAT) to Hold and lowered his price target for the shares to $43 from $58. Semicap Equipment stocks are not expensive but lack positive catalysts, Ho said. The analyst believes investor fears over that the industry has reached a cyclical peak will remain as long as the memory market stays weak. Further, he sees risk is for additional capex push-outs, especially in the first half of 2019.
10/02/18
MSCO
10/02/18
NO CHANGE
Target $9.5
MSCO
Overweight
Morgan Stanley sees opportunity in Infinera amid CenturyLink uncertainty
After a fellow analyst said that Infinera (INFN) had lost an RFP with CenturyLink (CTL) and the company rebutted that CenturyLink confirmed that a final decision has not been made, Morgan Stanley analyst Meta Marshall said she has no knowledge of the outcome beyond Infinera's assertion that the matter has not been decided. While the potential customer loss would not be a positive, Marshall noted that her base case did not assume share gains at CenturyLink, but merely that revenue could improve by CenturyLink resuming spending at the completion of its RFP process. The analyst, who sees positive potential catalysts including Coriant synergy targets being more specifically outlined at the upcoming analyst day, Infinera meeting revenue expectations in Q3 and CenturyLink potentially resolving their RFP by year end, sees an opportunity in Infinera shares at current levels and keeps an Overweight rating and $9.50 price target on the stock.
10/03/18
RSBL
10/03/18
NO CHANGE
RSBL
Neutral
Rosenblatt raises Ciena target, lowers Infinera's on expected CenturyLink shift
Rosenblatt analyst Ryan Koontz said he now expects Ciena (CIEN) to secure the lead optical supplier contract at CenturyLink (CTL) that he and many others had previously viewed as incumbent Infinera's (INFN) to lose. Koontz, who estimates the value of the contract for Ciena at $150M-$200M per year, modestly increased his 2019 revenue and earnings estimates and raised his price target to $33 from $31, though keeps a Neutral rating on the stock given the shares' recent strength. He cut his 2019 stand-alone Infinera revenue and earnings estimates and lowered his price target on the shares to $9 from $11.50, but maintains a Buy rating given the "precipitous" recent decline in the stock.
PRMW Primo Water
$17.80

0.68 (3.97%)

05/24/18
WBLR
05/24/18
INITIATION
WBLR
Outperform
Primo Water initiated with an Outperform at William Blair
William Blair analyst Jon Andersen started Primo Water with an Outperform rating.
05/24/18
WBLR
05/24/18
INITIATION
WBLR
Outperform
William Blair starts Primo with Outperform on growing bottled water market
William Blair analyst Jon Andersen initiated coverage of Primo Water with an Outperform rating. The U.S. bottled water market is $16B and forecast to grow at a compound annual rate of 8%, Andersen tells investors in a research note. He believes consumer trends and retail dynamics render Primo's target market of bulk bottled water as attractive. The analyst projects Primo can grow sales at a mid- to upper-single-digit rate and EBITDA at a low-double-digit rate over the next few years.
03/07/18
BRRR
03/07/18
NO CHANGE
Target $20
BRRR
Outperform
Primo Water raised guidance still looks conservative, says Barrington
Barrington analyst Michael Petusky raised his price target for Primo Water to $20 from $19 saying that while the Q4 results were "so-so," the next few years "look exciting." The company's increased outlook for 2018 still appears conservative, Petusky tells investors in a post-earnings research note. He believes a number of Primo's initiatives could drive above-average growth and margin expansion for at least the next three to five years. The analyst keeps an Outperform rating on the shares.
MED Medifast
$214.79

0.59 (0.28%)

08/03/18
DADA
08/03/18
NO CHANGE
Target $249
DADA
Buy
Medifast price target raised to $249 from $201 at DA Davidson
DA Davidson analyst Linda Bolton Weiser raised her price target on Medifast to $249 and kept her Buy rating after its Q2 results showed accelerating sales growth. The analyst adds that operating profit rose 51%, while Sequential Health Coach growth accelerated to 18%. Weiser raises her Medifast EPS view to $4.50 from $3.65 and believes that view remains conservative as it assumes "very little" leverage and deceleration of sequential Health Coach growth going forward.
05/24/18
DADA
05/24/18
NO CHANGE
Target $161
DADA
Buy
Medifast price target raised to $161 from $135 at DA Davidson
DA Davidson analyst Linda Bolton Weiser raised her price target on Medifast to $161, saying the company's recent announcement of OPTAVIA weight loss in Singapore and Hong Kong will serve as a "gateway" to China and the rest of Asia in years to come. Weiser estimates that expansion to Asia can drive sales growth by about 25% over the next 12 years as the company looks to address a significant market opportunity, with surveys indicating that "54% of adults in Asia are trying to lose weight". The analyst also kept her Buy rating on Medifast.
07/23/18
DADA
07/23/18
NO CHANGE
Target $201
DADA
Buy
Medifast price target raised to $201 from $161 at DA Davidson
DA Davidson analyst Linda Bolton Weiser raised her price target on Medifast to $201 and kept her Buy rating after its launch of Purposeful Hydration product that may have a positive effect on the company's Health Coach productivity. The analyst adds that the best-case scenario of full adoption by all customers buying a $400/month weight loss Purposeful Hydration program would result in a 10% Health Coach productivity - much higher than the currently modeled 2% growth for FY19. Weiser also cites the attendee increase in the recent national convention of Medifast Health Coaches to 6K this year from 4.1K last year.
09/14/18
DADA
09/14/18
NO CHANGE
DADA
Neutral
Nutrisystem more likely than public peers to buy Jenny Craig, says DA Davidson
After The Wall Street Journal recently reported that private equity firm North Castle Partners is seeking a buyer of Jenny Craig, DA Davidson analyst Linda Bolton Weiser said she sees "zero probability" that Medifast (MED) would acquire it and "almost zero probability" that Weight Watchers (WTW) would buy the company. Nutrisystem (NTRI), however, has already shown an interest in adding non-cannibalizing brands to its portfolio, making it the most likely buyer of Jenny Craig among the publicly-traded weight loss companies Weiser covers, she stated. Nutrisystem, which seems to have hit a wall in growing its biggest brand, may need a bold strategic move to provide visibility on growth and expansion, added the analyst. She keeps Buy ratings on Medifast and Weight Watchers and a Neutral rating on Nutrisystem shares.
Z Zillow
$41.09

0.6 (1.48%)

11/02/18
ZELM
11/02/18
INITIATION
ZELM
Hold
Zillow initiated with a Hold at Zelman
08/07/18
08/07/18
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. BOFA CUTS ZILLOW TO NEUTRAL: BofA Merrill Lynch analyst Nat Schindler downgraded Zillow (Z, ZG) to Neutral from Buy and cut its price target to $60 from $70 following the Q2 report and reduction in guidance. Schindler said the quarter indicated Zillow is taking longer than expected to ramp up the Homes business, Rentals revenue missed and the outlook was cut, and other revenue also missed, indicating the new construction opportunity is also taking longer to materialize. Zillow Class A shares are down about 17% in late morning trading. MORGAN STANLEY SAYS WAYMO COULD BE WORTH $175B: Morgan Stanley analyst Brian Nowak increased his enterprise value estimate for Alphabet's (GOOG, GOOGL) Waymo unit from $75B for ride sharing only to $175B given his analyses for two other emerging business models, logistics and licensing. He believes Waymo remains on track to launch an autonomous ride hailing service in Phoenix this year and believes this business could be worth about $80B over the long-term. Given his view of Waymo being a key part of Alphabet's long-term value, Nowak raised his sum of the parts valuation to $1,550 from $1,400. He has an Overweight rating and $1,325 price target on Alphabet shares. GOLDMAN RAISES NVIDIA TARGET AHEAD OF EARNINGS: Goldman Sachs analyst Toshiya Hari raised his price target for Nvidia (NVDA) to $324 from $310 ahead of quarterly results. Unlike the past 10 quarters where the company handily beat Street estimates and raised guidance, the analyst expects a "noisy" quarter with the focal points being the upcoming product transition in Gaming, the current product transition in Datacenter, weakness in cryptocurrency mining, and potential disruption from the virus attack at TSMC (TSM). That said, Hari noted that his long-term bull thesis on Nvidia remains intact and reiterated a Buy rating on the shares. ARGUS CUTS CBS TO HOLD: Argus analyst Joseph Bonner downgraded CBS (CBS) to Hold from Buy, noting significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIA, VIAB) merger. Bonner noted that if the Moonves allegations are proven true, he would be immediately dismissed, which could end the board's bid to remain independent and thereby inflict damage on the shareholders.
11/02/18
11/02/18
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. Zillow (Z, ZG) initiated with a Hold at Zelman. 2. RumbleON (RMBL) initiated with a Buy at Craig-Hallum. 3. Ra Medical Systems (RMED) initiated with a Buy at Maxim. 4. Del Frisco's (DFRG) and Red Robin (RRGB) were initiated with a Hold at Loop Capital. 5. Garrett Motion (GTX) initiated with a Sell at UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MB Mindbody
$32.63

-0.96 (-2.86%)

09/19/18
DADA
09/19/18
NO CHANGE
Target $48
DADA
Buy
Mindbody price target raised to $48 from $41 at DA Davidson
DA Davidson analyst Rishi Jaluria raised his price target on Mindbody to $48 and kept his Buy rating after attending its Analyst Day, saying the management's presentation outlined the path to double average revenue per subscriber and quadruple recurring revenue. The analyst is also positive on the company's progress in integration of the acquired Booker business, adding that he is more positive about Mindbody's growth prospects after the event. Jaluria sees the company's valuation at 6-times enterprise value to expected FY19 revenue as attractive, trading at a discount to the vertical software peer group.
10/10/18
KEYB
10/10/18
NO CHANGE
KEYB
Shopify, Salesforce should be bought on October pullback, says KeyBanc
KeyBanc analyst Brent Bracelin notes that the 55 largest SaaS stocks had an incredible run through the end of Q3, as the group benefited from robust secular tailwinds and multiple expansion with forward EV/S levels increasing by two full turns above the five-year average. That said, the "Big Chill" has quickly set in during the first nine days of October as the group is down 11% this month and 21% from the highs, on average, he adds. The analyst has identified eight high-quality SaaS stocks that he would buy on the October pullback based on attractive risk-reward and growth profiles looking out into 2020, namely Shopify (SHOP), Salesforce (CRM), Twilio (TWLO), Wix.com (WIX), Zendesk (ZEN), BlackLine (BL), Avalara (AVLR), and Mindbody (MB).
10/09/18
10/09/18
DOWNGRADE

Market Perform
Blackbaud downgraded to Market Perform after guidance cuts at JMP Securities
As previously reported, JMP Securities analyst Patrick Walravens downgraded Blackbaud (BLKB) to Market Perform from Outperform after the company cut guidance for 2018 for the second time in 70 days. The company's latest revisions, citing shortfalls in one-time revenue, payments, and giving rates in the United Kingdom, leave him wondering what Blackbaud will say about its growth expectations and level of investment for 2019, Walravens said. On the bright side, Blackbaud's focus on recurring revenue reminds Walravens of Cornerstone OnDemand's (CSOD) recent transformation nd the focus on integrated payments reminds him of MINDBODY (MB), he added.
09/26/18
WBLR
09/26/18
INITIATION
WBLR
Market Perform
Mindbody initiated with a Market Perform at William Blair
William Blair analyst Matthew Pfau started Mindbody with a Market Perform rating.
TRUE TrueCar
$11.49

0.11 (0.97%)

06/07/18
GSCO
06/07/18
DOWNGRADE
Target $9
GSCO
Sell
TrueCar downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Christopher Merwin downgraded TrueCar (TRUE) to Sell and lowered his price target for the shares to $9 from $11. Growing competition in the auto vertical creates further downside in the shares, which are already down 12% year-to-date, Merwin tells investors in a research note. He notes that as of Q1, CarGurus (CARG) had reached 18% audience market share, relative to 4% for TrueCar, according to comScore. The analyst believes TrueCar may have to step up marketing to reclaim audience market share, creating risk to consensus revenue growth estimates.
08/10/18
SPHN
08/10/18
NO CHANGE
Target $18
SPHN
Overweight
Stephens reiterates Best Idea designation on TrueCar after Q2 report
Stephens analyst Kyle Evans noted that TrueCar reported in-line Q2 results and maintained full year guidance. Noting that investors appear increasingly excited about the prospects for an improved dealership contact experience, which TrueCar now expects to begin live testing in the second half and launch late in the year, Evans maintained his Best Idea designation Overweight rating and $18 price target on TrueCar shares.
08/13/18
DADA
08/13/18
NO CHANGE
Target $12.75
DADA
Neutral
TrueCar price target raised to $12.75 from $10 at DA Davidson
DA Davidson analyst Tom White raised his price target on TrueCar to $12.75 after its Q2 results, saying the quarter showed some "promising tailwinds" with an 8% increase in net franchise revenue and an 8% rise in average monthly unique visitor count. The analyst also keeps his Neutral rating on TrueCar, pointing to a 1.5% decline in company-branded channel units because of "rising competitive ad intensity" from CarGurus (CARG) and Cars.com (CARS). White still believes that TrueCar's 20% growth objective looks "achievable" based on its OEM incentive revenue trends.
04/04/18
DADA
04/04/18
INITIATION
Target $9.75
DADA
Neutral
TrueCar initiated with a Neutral at DA Davidson
DA Davidson analyst Tom White initiated TrueCar with a Neutral rating and a price target of $9.75. White states that the company's online car buying platform empowers consumers with transaction prices on car sales in their local market, and its business model could be disruptive in the automotive marketing industry. However, the analyst also notes the rising competition in the online auto marketplace, opting to await more concrete signs that TrueCar's efforts are translating into rising conversion rates as it targets 20% growth and margin expansion in FY19.
CHUY Chuy's
$26.26

0.49 (1.90%)

09/25/18
BARD
09/25/18
NO CHANGE
BARD
M&A interest could put near-term floor under restaurant valuations, says Baird
Baird analyst David Tarantino said Sonic's (SONC) agreement to be acquired by Inspire Brands, which also bought Buffalo Wild Wings last year, underscores that private equity firms continue to have interest in putting money to work in the restaurant sector, which he thinks could help to put a floor on the valuations of publicly-traded restaurant stocks. Among the stocks in the sector that he covers, Tarantino views Jack in the Box (JACK), El Pollo Loco (LOCO), Chuy's (CHUY), Habit Restaurants (HABT) and Potbelly (PBPB) as among those that theoretically could attract buyout interest at their current multiples, he tells investors.
09/26/18
SPHN
09/26/18
DOWNGRADE
Target $43.5
SPHN
Equal Weight
Sonic downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Will Slabaugh downgraded Sonic (SONC) to Equal Weight from Overweight, stating that given the premium valuation that Inspire Brands has agreed to pay he does not expect any competing bids. The analyst, who raised his price target on Sonic shares to $43.50 from $40, added that he views Roark's acquisition of the company as "somewhat unique" and does not expect the "floodgates of restaurant M&A to open." His previously published list of potential takeout targets in the restaurant space includes Red Robin (RRGB), Chuy's (CHUY) and BJ's Restaurants (BJRI).
09/24/18
BMOC
09/24/18
DOWNGRADE
BMOC
Market Perform
Chuy's downgraded to Market Perform from Outperform at BMO Capital
09/24/18
BMOC
09/24/18
DOWNGRADE
BMOC
Underperform
Brinker, Darden, Chuy's Holdings downgraded to Underperform at BMO Capital
As reported earlier, BMO Capital analyst Andrew Strelzik also downgraded Brinker (EAT), Darden (DRI), and Chuy's Holdings (CHUY) to Underperform from Market Perform as part of his broader casual dining sector report and lowered their respective price target to $40 from $43, $96 from $105, and $23 from $28. The analyst cites expected deceleration of industry comps starting in Q4 of this year as a result of wider food-at-home/food-away-from-home gap coming from food commodity deflation. Strelzik says all of the downgraded companies have a tight correlation between comps and commodity prices and sees their EBITDA multiple expansions coming under pressure. The analyst adds that the widening gap will make the recent multiple expansion in the industry unsustainable in spite of recent sequential comps improvement at Brinker, strong brand positioning and value options at Darden, and "attractive" long term growth potential of new unit openings at Chuy's.
HEAR Turtle Beach
$21.68

0.92 (4.43%)

11/05/18
MAXM
11/05/18
INITIATION
Target $28
MAXM
Buy
Turtle Beach initiated with a Buy at Maxim
Maxim analyst Nehal Chokshi initiated Turtle Beach with a Buy rating and a price target of $28, citing the company's exposure to the "secular growth in cloud-based gaming" with its peripheral market. The analyst states that Turtle Beach has a "strong brand" presence, superior product, and competitive prices in the gamer life cycle. Chokshi also points to the high level of short interest and the company's positive pre-announcement last month.
11/05/18
MAXM
11/05/18
INITIATION
MAXM
Buy
Turtle Beach initiated with a Buy at Maxim
10/16/18
DADA
10/16/18
NO CHANGE
Target $58
DADA
Buy
DA Davidson recommends that investors buy Logitech ahead of earnings
DA Davidson analyst Tom Forte kept his Buy rating and $58 price target on Logitech ahead of its Q3 results next Monday, saying that he sees "multiple favorable data points indicating the continued strength of gaming accessories". The analyst recommends that investors purchase shares going into the company's earnings, as "recent data and comments from GameStop (GME), NPD, and Turtle Beach (HEAR) suggest continued robust demand for Fortnite gameplay "fueling further growth in headsets".
10/12/18
DADA
10/12/18
NO CHANGE
Target $38
DADA
Buy
Turtle Beach valuation now 'especially attractive', says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $38 price target on Turtle Beach (HEAR), saying the current valuation on the stock at 12.9-times free cash flow yield based on his expected 2020 forecasts makes the shares "especially attractive". The analyst notes that the company's Q3 pre-announcement affirmed his view of Turtle Beach being "incredibly well positioned to leverage the continued success of the battle royale gaming format", while commentary from Epic Games, NPD, and GameStop (GME) has also indicated that Fortnite demand remains very strong.
ICHR Ichor Holdings
$19.28

-0.18 (-0.92%)

04/05/18
DBAB
04/05/18
NO CHANGE
Target $38
DBAB
Buy
Ichor Holdings P/E ratio does not make sense, says Deutsche Bank
Deutsche Bank analyst Sidney Ho believes Ichor Holdings' (ICHR) price-to-earnings ratio at 5.5 times does not make sense. While Ichor may trade at a discount to its key customers at 11 times because of its market capitalization and high customer concentration, the current 50% valuation discount is unwarranted, Ho tells investors in a research note. He also does not see why Ichor should trade at a large discount to its closest competitor in the space, UCTT (UCTT). Ho reiterates a Buy rating on Ichor Holdings with a $38 price target.
03/26/18
NORL
03/26/18
INITIATION
Target $42
NORL
Outperform
Ichor Holdings initiated with an Outperform at Northland
Northland initiated Ichor Holdings with an Outperform and $42 price target.
02/15/18
COWN
02/15/18
NO CHANGE
COWN
Outperform
Applied Materials commentary positive for wafer fab companies, says Cowen
Cowen analyst Karl Ackerman said Applied Materials' (AMAT) commentary following its solid Q1 results is positive for wafer fabrication companies Ichor Holdings (ICHR) and Ultra Clean (UCTT). The commentary indicated a healthy wafer fab equipment environment through 2019, suggesting the strong selloff amid fears of a material deceleration in equipment spending is overblown. Ackerman raised his estimates and reiterated his Outperform rating on both Ichor Holdings and Ultra Clean shares.
09/10/18
STFL
09/10/18
NO CHANGE
STFL
Stifel maintains near-term outlook on WFE despite KLA-Tencor comments
Stifel analyst Patrick Ho attributes last week's sharp selloff in semiconductor capital equipment stocks to comments made by KLA-Tencor's (KLAC) management regarding additional push-outs coming from the DRAM space. Following KLA-Tencor comments that DRAM suppliers had "pushed out" the timing of some initial tool deliveries into the first half of calendar 2019, Ho said his checks suggest that these push outs are coming from multiple players, one of which had already been hinted at earlier. Given potential DRAM push outs, some of which were already factored into his current forecast, Ho believes 2018 WFE could end up between $48-$50B, which he notes would be up slightly from $47.5B in 2017. For 2019, his current WFE forecast calls for $53B-$55B, or up 5%-10%, which Ho said he will maintain for now. His preferred semi capital equipment names are Applied Materials (AMAT), MKS Instruments (MKSI) and Ichor Holdings (ICHR), on all of which Ho has Buy ratings. Others in the space include Lam Research (LRCX), ASML (ASML), Teradyne (TER) and Kulicke & Soffa (KLIC).
INSG Inseego
$3.84

0.07 (1.86%)

09/06/18
ADAM
09/06/18
UPGRADE
Target $5
ADAM
Buy
Inseego upgraded to Buy after management meetings at Canaccord
As reported previously, Canaccord analyst T. Michael Walkley upgraded Inseego to Buy from Hold. The analyst based the upgrade on his 2020 estimates, which he raised following meetings with management. He came away confident in management's ability to execute on its plans and deliver on improving gross and adjusted EBITDA margins through new product introductions, ongoing cost discipline, and strong potential revenue growth opportunities. Walkley raised his price target to $4.50 from $2.25 on Inseego shares.
09/11/18
NORL
09/11/18
NO CHANGE
Target $4.5
NORL
Outperform
Inseego price target raised to $4.50 from $3 at Northland
Northland analyst Michael Latimore raised Outperform rated Inseego's price target to $4.50 from $3 given increased visibility into mobile and IoT revenue. Latimore thinks Inseego has likely won multiple deals for its 4G adn 5G technologies due to increased focus on this segment of the business and rising restrictions in ZTE in North America.
10/12/18
ROTH
10/12/18
INITIATION
Target $5
ROTH
Buy
Inseego initiated with a Buy at Roth Capital
Roth Capital analyst Scott Searle initiated Inseego with a Buy rating and $5 price target, stating that he sees near-term expectations as conservative given the company's MiFi "revitalization" and new products, including enterprise and fixed wireless 5G solutions. 5G will be a "key driver" in 2019 as Inseego is positioned as a CPE supplier for these ultra-high capacity broadband solutions, Searle tells investors.
09/06/18
09/06/18
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. PG&E (PCG) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. 2. Arrowhead (ARWR) upgraded to Buy from Neutral at B. Riley FBR with analyst Madhu Kumar saying while the data presented this morning are early, they provide clinical proof of concept for Arrowhead's current hepatitis B virus franchise. 3. TSYS (TSS) upgraded to Outperform from Perform at Oppenheimer with analyst Glenn Greene saying he remains optimistic regarding the company's growth outlook and improving business mix going forward. 4. Vodafone (VOD) upgraded to Buy from Neutral at Citi with the firm saying it sees near-term upside in the shares amid improving conditions in Germany. 5. Inseego (INSG) upgraded to Buy from Hold at Canaccord with analyst T. Michael Walkley citing his 2020 estimates, which he raised following meetings with management. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MYGN Myriad Genetics
$36.71

-1.61 (-4.20%)

11/01/18
MSCO
11/01/18
NO CHANGE
MSCO
Overweight
Morgan Stanley says Myriad selloff on 23andMe approval a buying opportunity
Morgan Stanley analyst Steve Beuchaw said today's move lower in shares of Myriad Genetics "reflects confusion" on the regulatory backdrop for enetic tests and he believes the fact that 23andMe received an FDA approval yesterday for a consumer-facing pharmacogenetic screen is actually a positive for Myriad. Direct-to-consumer tests are not a substitute for clinical lab tests, as noted by the FDA, said Beuchaw, who believes uptake of consumer genomic tests, including their promotion by 23andMe, is a tailwind for Myriad and the category. He views the pullback as a buying opportunity and keeps an Overweight rating on Myriad Genetics shares.
11/01/18
MSCO
11/01/18
NO CHANGE
MSCO
Myriad Genetics shares defended at Morgan Stanley
11/01/18
PIPR
11/01/18
NO CHANGE
Target $53
PIPR
Overweight
Myriad Genetics should be bought on weakness, says Piper Jaffray
Piper Jaffray analyst William Quirk notes that Myriad Genetics' shares are off about 15% on two items, neither of which he believes will have a lasting effect on the company's business. First is an FDA safety communication about genetics tests used to predict drug response, he points out, adding that the letter "has teeth," but likely for consumer-oriented tests. The second is the 23&Me approval for a consumer-based pharmacogenomics test, which could certainly open up more testing, but within the consumer-driven, not physician-driven channel, he argues. Accordingly, Quirk recommends buying shares on the pullback, and reiterates an Overweight rating and $53 price target on the stock.
10/10/18
PIPR
10/10/18
UPGRADE
Target $53
PIPR
Overweight
Myriad Genetics upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst William Quirk upgraded Myriad Genetics to Overweight and raised his price target for the shares to $53 from $38. After updating his reimbursement model for Myriad's Prolaris, Vectra, and GeneSight, the analyst believes the company has $9 of earnings per share power. Quirk now has increased confidence in Myriad's ability to beat Street expectations and admits he's been wrong on the shares.
RRGB Red Robin
$33.19

0.71 (2.19%)

11/02/18
LOOP
11/02/18
INITIATION
Target $35
LOOP
Hold
Red Robin initiated with a Hold at Loop Capital
Loop Capital analyst Lynne Collier initiated Red Robin with a Hold rating and a price target of $35. The analyst says that while the company's current valuation is "clearly attractive" near its 5-year low, its performance will likely be constrained in the coming months as it optimizes its service model and marketing message. Collier adds that Red Robin's operational fixes will likely take some time to translate into improved performance.
10/18/18
GDHS
10/18/18
INITIATION
Target $38
GDHS
Hold
Red Robin initiated with a Hold at Gordon Haskett
Gordon Haskett analyst Jeff Farmer started Red Robin Gourmet Burgers with a Hold rating and $38 price target. The analyst says continued market share losses and margin headwinds keep him on the sidelines.
11/02/18
MAXM
11/02/18
NO CHANGE
Target $46
MAXM
Buy
Red Robin price target lowered to $46 from $54 at Maxim
Maxim analyst Stephen Anderson lowered his price target on Red Robin to $46 ahead of its Q3 earnings next week, also lowering his EPS forecast to 13c from 15c in anticipation of "another quarter of negative mix and modest traffic" that is only slightly offset by more favorable food costs. The analyst also keeps his Buy rating on Red Robin, noting that its "attractive valuation" could see some private equity interest along with "several factors" that could contribute to the company growing its EPS by at least 20% through 2020.
MTCH Match Group
$51.50

0.3 (0.59%)

10/11/18
NOMU
10/11/18
INITIATION
Target $246
NOMU
Buy
IAC initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Mark Kelley initiated IAC (IAC) with a Buy rating and a price target of $246, saying its shareholders should continue to benefit from the company's core "Liberty roots", strategic acquisitions, and spin-offs. The analyst notes that IAC can continue to create shareholder value based on the upside expected in Match Group (MTCH) of which it owns 81% and ANGI Homeservices (ANGI) of which it owns 87%.
10/12/18
10/12/18
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. Comcast (CMCSA) reinstated with an Overweight at JPMorgan. 2. Abeona Therapeutics (ABEO) initiated with a Buy at Mizuho. 3. Foamix (FOMX) initiated with an Overweight at Cantor Fitzgerald. 4. Match Group (MTCH) and IAC (IAC) were initiated with a Buy at Nomura Instinet while Angi Homeservices (ANGI) was initiated with a Neutral at Nomura Instinet. 5. Terex (TEX) initiated with a Neutral at Longbow. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/05/18
DBAB
11/05/18
NO CHANGE
Target $61
DBAB
Buy
Match Group price target raised to $61 from $56 at Deutsche Bank
Deutsche Bank analyst Kunal Madhukar raised his price target for Match Group to $61 saying his analysis suggests that Match is likely is on track for another beat this quarter versus consensus. The analyst keeps a Buy rating on shares ahead of the company's Q3 results.
10/11/18
NOMU
10/11/18
INITIATION
NOMU
Buy
Match Group initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Mark Kelley initiated Match Group (MTCH) with a Buy rating and $66 price target. Kelley sees Match remaining the clear leader in online dating, despite Tinder growth, the evolution of other brands such as OKCupid and PlentyOfFish, and Facebook's (FB) recent entry into dating -- which the analyst is not concerned about. Kelley estimates the global dating market, ex-China, will be $12B by 2020, and conservatively expects Match to comprise 20% of the market at that time.
JAZZ Jazz Pharmaceuticals
$164.61

2.43 (1.50%)

09/19/18
LEER
09/19/18
NO CHANGE
LEER
Outperform
Leerink 'incrementally positive on state of generics industry following meetings
Leerink analyst Ami Fadia tells investors in a research note that she is "incrementally positive" on the state of the generics industry following investor meetings with the management teams from Outperform-rated Amneal (AMRX), Pfenex and Teligent. Fadia says a key takeaway from the teams is that the FDA is placing additional emphasis on reviewing and approving complex generics, and while there is starting to be more first-to-market approvals, there are also more approvals for the second and third generic entrants. Additionally, Fadia says the complex generic opportunity will likely be characterized by a slower-than-typical launch ramp, but also extended duration of meaningful financial contribution due to less overall competitors vs that for oral-solid generics and that while companies still regard biosimilar assets as attractive, the low penetration for biosimilar Remicade in the U.S., Mylan's (MYL) slow start with Fulphila and extended litigation timelines mean management teams looking to participate in this space are taking a more prudent approach and minimizing their upfront investment.
10/19/18
PIPR
10/19/18
NO CHANGE
Target $213
PIPR
Overweight
Jazz shares could rally over $250 with JZP-258 success, says Piper Jaffray
After taking a closer look at the potential impact of JZP-258, Jazz Pharmaceuticals' form of oxybate for narcolepsy, Piper Jaffray analyst David Amsellem reiterates an Overweight rating on the shares with a $213 price target. If JZP-258 were to capture a significant share of the oxybate market, that would translate into not only limited erosion of cash flows from Jazz's oxybate franchise, but also a "significant re-rating of valuation multiples" for Jazz, Amsellem tells investors in a research note. He believes a scenario involving greater than 50% market share for JZP-258 would translate into a value per share of north of $250. Further, the downside risk to the shares in a scenario with limited or no contribution from JZP-258 is "far more limited than the upside potential," contends Amsellem.
10/15/18
MZHO
10/15/18
NO CHANGE
Target $173
MZHO
Neutral
Jazz Pharmaceuticals price target lowered to $173 from $180 at Mizuho
Mizuho analyst Irina Koffler lowered her price target for Jazz Pharmaceuticals to $173 to reflect reduced estimates for Vyxeos, Erwinaze, and Solriamfetol. The analyst's annual revenue growth estimate for 2018-2027 decreased to 2.6% from 3.5%. He expects Jazz to guide down Erwinaze due to a supply disruption and reiterates a Neutral rating on the shares
AKRX Akorn
$7.49

0.11 (1.49%)

10/17/18
PIPR
10/17/18
UPGRADE
Target $9
PIPR
Overweight
Akorn upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst David Amsellem upgraded Akorn (AKRX) to Overweight and raised his price target for the shares to $9 from $5. After taking a closer look at the company's base generics business in the wake of the lower court decision that sided with Fresenius (FSNUY) in its efforts to terminate its merger with Akorn, Amsellem believes annual EBITDA of no worse than $125M-$135M starting in 2019 is realistic. The analyst says that based on trends associated with a number of its notable products, as well as his recent conversation with management, he believes a picture of sustainable EBITDA is emerging at Akorn that is better than what he had previously envisioned. Assuming Akorn loses its appeal, management "strongly suggested" that it address its cost structure, Amsellem tells investors in a research note.
10/04/18
10/04/18
UPGRADE
Target $11

Buy
Akorn upgraded to Buy after 'overreaction' to court rule at Craig-Hallum
As previously reported, Craig-Hallum analyst Matt Hewitt upgraded Akorn (AKRX) to Buy from Hold saying that while the ruling in favor of Fresenius (FMS) by the Deleware Court of Chancery was a major disappointment for investors, the 50%-plus drop in Akorn's stock price these past few days is unwarranted and values the company well below what it is worth on a standalone basis. The analyst also lowered his price target for Akorn's shares to $11 from $14.
10/04/18
CHLM
10/04/18
UPGRADE
Target $11
CHLM
Buy
Akorn upgraded to Buy from Hold at Craig-Hallum
10/17/18
10/17/18
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. Infosys (INFY) upgraded to Market Perform from Underperform at William Blair WITH analyst Maggie Nolan citing Q2 results. 2. American Airlines (AAL), Delta Air Lines (DAL), and United Continental (UAL) upgraded to Buy from Hold at Deutsche Bank. 3. Akorn (AKRX) upgraded to Overweight from Neutral at Piper Jaffray with analyst David Amsellem saying based on trends associated with a number of its notable products, as well as his recent conversation with management, he believes a picture of sustainable EBITDA is emerging at Akorn that is better than what he had previously envisioned. 4. Workday (WDAY) upgraded to Outperform from Market Perform at Bernstein with analyst Mark Moerdler saying he determined that even if the ERP market moves reasonably slowly to the Cloud, it is large enough and the fact there are only a few vendors with a competitive SaaS solution should allow Workday to continue to gain share. 5. Domino's Pizza (DPZ) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson saying the pullback in the stock price is overdone and expects accelerated cost savings and solid comps to yield higher earnings, raising his FY20 EPS view to $12.01 from $11.72. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
COHR Coherent
$133.18

0.987 (0.75%)

10/08/18
10/08/18
DOWNGRADE

Neutral
Northcoast downgrades IPG Photonics, peers to Neutral as outlook lacks clarity
As previously reported, Northcoast analyst Tom Hayes downgraded IPG Photonics (IPGP), Coherent (COHR), and nLIGHT (LASR) to Neutral from Buy as he sees considerable headwinds remaining in place, which will likely constrain unit volume growth over the next few quarters and into 2019. While the analyst continues to expect that industrial lasers, especially fiber lasers, will become an important tool in global manufacturing, the near-term challenges and lack of visibility are moving him to the sidelines as he expects the headwinds to extend into FY19 as trade and tariff issues weigh on demand. Hayes also notes that China is a significant market for laser demand, but its outsized component of total revenue adds some risk to operations. Based on the most recently published reports, trailing 12-month revenue in China represented 43% of IPG revenue, 9% of Coherent revenue, and 39% of nLIGHT's revenue, he adds.
10/09/18
LBOW
10/09/18
DOWNGRADE
LBOW
Neutral
Coherent downgraded to Neutral from Buy at Longbow
10/09/18
10/09/18
DOWNGRADE

Neutral
Coherent downgraded to Neutral on OLED timing, industrial malaise at Longbow
As previously reported, Longbow analyst Joe Wittine downgraded Coherent (COHR) Neutral from Buy based upon a potentially elongating OLED investment cycle. Wittine views Apple's (AAPL) iPhone XR/LCD dynamic as partially responsible for this extension. Should advanced LCD devices prove to have a longer shelf life, the investment cycle will face extensions, he contends. The analyst also cited the weakening seen in his Q3 industrial laser survey confirmed by IPG Photonics' (IPGP) Q3 preannouncement last week.
10/24/18
NRCS
10/24/18
NO CHANGE
NRCS
Neutral
Northcoast finds modest rebound in Industrial Laser sentiment in September
Northcoast analyst Tom Hayes reported that his September survey of the Industrial Laser industry showed a modest rebound in sentiment following a weak outlook in August. He has seen more mixed market commentary from China as well as Coherent (COHR) indicating that its previous revenue and margin guidance would fall short of expectations following his downgrades of the laser names he covers, noted Hayes. He maintains Neutral ratings on Coherent, IPG Photonics (IPGP) and nLight (LASR).
DXC DXC Technology
$72.23

0.41 (0.57%)

10/24/18
KEYB
10/24/18
NO CHANGE
KEYB
Overweight
DXC Technology should guide to higher end of FY19 estimates, says KeyBanc
Following up on a previous research note saying he believes the selloff in DXC Technology shares seems overdone, KeyBanc analyst Arvind Ramnani noted that the shares continue to be pressured as investors appear to be interpreting "reiterated guidance" as merely restating what the company had communicated in its August earnings call. However, the analyst spoke to DXC and the company clarified that it is confident at coming in at the high end of its FY19 guidance range. Ramnani would expect DXC to guide to the higher end of its FY19 estimates when it reports on November 6th. KeyBanc has an Overweight rating on the shares.
11/06/18
MSCO
11/06/18
NO CHANGE
Target $103
MSCO
Overweight
DXC Technology selloff presents compelling entry point, says Morgan Stanley
Morgan Stanley analyst Brian Essex believes the recent selloff in DXC Technology shares presents a compelling entry point ahead of the company's earnings report after market close tonight. He doesn't anticipate meaningful medium-term guidance along with earnings, as the company has historically deferred to its investor day for that, but that event comes two days later on Thursday, Essex noted. The analyst forecasts medium-term guidance could fall in the range of 1-4% for revenue growth, with EPS guidance of $9.25-$10, which he thinks would be achievable and well-received by investors. Ahead of the earnings report and analyst day meeting, Essex keeps an Overweight rating and $103 price target on DXC shares.
11/05/18
JPMS
11/05/18
NO CHANGE
Target $98
JPMS
Overweight
DXC Technology recommended as top value pick at JPMorgan
JPMorgan analyst Tien-tsin Huang believes DXC Technology's investor day on November 8 "should prove to be a key positive catalyst for the stock." The analyst sees "significant earnings power potential" for DXC to the tune of $10.50 in earnings per share by fiscal 2021, primarily powered by margin expansion. Further, DXC is "on the verge of finally growing its revenue on a reported basis," Huang tells investors in a research note. He recommends DXC as a top value pick and keeps an Overweight rating on the name despite lowering his price target to $98 from $106.
10/24/18
KEYB
10/24/18
NO CHANGE
KEYB
Overweight
DXC Technology selloff appears overdone, says KeyBanc
KeyBanc analyst Arvind Ramnani said the selloff in DXC Technology shares seems overdone, stating that he is "unclear about the credibility" of the article published today by The Register. The article pointed to a 10%-15% shortfall in revenues leading to the departure of a senior executive, but in his view it's unlikely for an IT Services firm, particularly one with a highly diversified revenue base, to see such a rapid revenue degradation. The executive who departed, Karan Puri, may be a loss, but there have been a number of senior level executive departures from DXC and Puri's abrupt exit should not be a concern, added Ramnani, who has an Overweight rating on DXC shares.
VSLR Vivint Solar
$5.53

0.015 (0.27%)

06/22/18
GUGG
06/22/18
UPGRADE
Target $5
GUGG
Buy
Vivint Solar upgraded to Buy on an improving outlook at Guggenheim
As previously reported, Guggenheim upgraded Vivint Solar to Buy from Neutral and raised its price target to $6 from $5. Analyst Sophie Karp came away from yesterday's management meetings with increased confidence the company has turned the corner given the improving cost of capital on the back of recent financing, an improving near-term growth profile as California builders move forward with solar installations on new homes ahead of the 2020 mandate, and a generally favorable regulatory and macro outlook.
07/18/18
GSCO
07/18/18
DOWNGRADE
Target $15
GSCO
Neutral
Sunrun downgraded to Neutral at Goldman Sachs on valuation
As reported earlier, Goldman Sachs analyst Brian Lee downgraded Sunrun to Neutral from Buy as part of his broader research note on the solar sector and also kept his price target at $15 citing valuation on the stock. The analyst states that Sunrun has already run up 160% year to date and also cites the shift in China's solar policy in late May along with the ensuing price collapse across the supply chain toward quarter-end, which raises the risk of margin misses and weaker Q3 guidance. Lee adds that China-levered names like Jinko Solar (JKS) and Canadian Solar (CSIQ) thus face particularly challenging demand outlooks. The analyst has the most constructive view on the U.S. residential installer Vivint Solar (VSLR), which stands to "benefit from lower module costs and what we expect could close the valuation gap relative to peers.
08/08/18
08/08/18
UPGRADE
Target $11

Outperform
Vivint Solar upgraded to Outperform on cash generation at JMP Securities
As previously reported, JMP Securities analyst Joseph Osha upgraded Vivint Solar to Outperform from Market Perform, stating that its operational performance has been solid and its September quarter installations guidance indicates that bookings conversion is good. More importantly, Vivint appears to have turned the corner on several of its financing challenges and is demonstrating that they are able to generate cash, said Osho, who set an $11 price target on the shares.
08/08/18
JMPS
08/08/18
UPGRADE
JMPS
Outperform
Vivint Solar upgraded to Outperform from Market Perform at JMP Securities
ZAGG Zagg
$12.26

0.21 (1.74%)

03/16/18
03/16/18
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. Atara Biotherapeutics (ATRA) initiated with a Neutral at Guggenheim. 2. Zagg (ZAGG) initiated with a Buy at DA Davidson. 3. Key Energy (KEG) initiated with a Hold at Deutsche Bank. 4. Logitech (LOGI) initiated with a Buy at DA Davidson. 5. Adaptimmune (ADAP) assumed with an Outperform at Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/18
LTCO
05/09/18
NO CHANGE
Target $24
LTCO
Buy
Zagg price target raised to $24 from $21 at Ladenburg
Ladenburg Thalmann analyst Jon Hickman raised his price target for Zagg to $24 saying the company reported "impressive" Q1 results. Strength in the quarter came primarily from screen protection, wireless charging and continued international expansion, Hickman tells investors in a research note. The analyst believes Zagg is growing its leadership position in the mobile accessories market space. He reiterates a Buy rating on the shares.
09/13/18
DADA
09/13/18
NO CHANGE
Target $265
DADA
Buy
Apple new product lineup increases near term sales confidence, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $265 price target on Apple (AAPL) after its product re-fresh yesterday, saying the event increases his confidence in the company "meeting or exceeding" consensus for sales in the near term. The analyst believes that the starting price points for the iPhone XS and iPhone XS Max should boost Apple's average selling prices and allow the company to "bear financial fruit" of the updated lineup without having to increase unit sales. As part of his broader research note, Forte also keeps his Neutral rating on Fitbit (FIT), saying the cost-conscious consumers will still purchase its Versa smartwatch rather than opt for the more expensive Apple Watch. The analyst is also positive on Zagg (ZAGG), maintaining his Buy rating and $20 price target on expectation that consumers will want to protect their expensive smartwatch products with the company's screen protectors and cases.
09/24/18
DADA
09/24/18
NO CHANGE
Target $20
DADA
Buy
Zagg to benefit from iPhone shield protector demand, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $20 price target on Zagg, saying the company should benefit from "increased demand for its InvisibleShield screen protector" based on the service pricing of Apple's new iPhone lineup. The analyst believes that a decision to buy a $40 screen protector becomes easy given the high cost of the new devices as well as the estimated screen repair servicing costs of $279 for iPhone XS and $329 for iPhone XS Max.
UCTT Ultra Clean
$11.52

0.13 (1.14%)

08/28/18
STPT
08/28/18
UPGRADE
STPT
Buy
Ultra Clean upgraded to Buy from Hold at Standpoint Research
Standpoint Research analyst Ronnie Moas upgraded Ultra Clean to Buy from Hold with a $20 price target.
04/26/18
NEED
04/26/18
NO CHANGE
Target $28
NEED
Buy
Ultra Clean price target lowered to $28 from $34 at Needham
Needham analyst Y. Edwin Mok lowered his price target on Ultra Clean Holdings to $28 to reflect the "lower comp multiples" but kept his Buy rating after the company's Q1 earnings beat. Mok notes that the expectations for the quarter were low considering the reduction in shipment outlook by the company's large customer Lam Research (LRCX), but Ultra Clean was able to top the Street's model. The analyst adds that he awaits more signs of growth from its inorganic vector, but sees Ultra Clean executing well in its organic strategy.
WEN Wendy's
$17.09

0.05 (0.29%)

10/18/18
GDHS
10/18/18
INITIATION
Target $20
GDHS
Buy
Wendy's initiated with a Buy at Gordon Haskett
Gordon Haskett analyst Jeff Farmer started Wendy's with a Buy rating and $20 price target. The company is approaching a free cash yield "tipping point" of around 5.5%, a level at which the stock should track free cash flow growth, Farmer tells investors in a research note.
10/22/18
LBOW
10/22/18
NO CHANGE
Target $24
LBOW
Buy
Wendy's checks point to Q3 U.S. comps topping consensus, says Longbow
Longbow analyst Alton Stump said his talks with U.S. Wendy's franchisees point to domestic franchised same-store sales growth of 2%-2.5%, which is better than the consensus forecast of 1.8%. He believes domestic SSS growth of over 2% would likely drive meaningful upside in the stock given where current expectations are, Stump added. He maintains a Buy rating on Wendy's shares with a $24 price target.
10/09/18
SPHN
10/09/18
NO CHANGE
Target $55
SPHN
Overweight
Stephens not convinced 'dots should be connected' between Papa John's, Wendy's
Stephens analyst Will Slabaugh remarked on The Wall Street Journal report that Trian recently contacted Papa John's (PZZA) to collect info as it explores a possible bid and noted that Trian holds a 13% stake in Wendy's (WEN). However, he is "not convinced that the dots should be connected" between Papa John's and Wendy's, pointing toward the latter's transition to a more capital-light model. With that said, he maintains his belief that the long-term earnings power of Papa John's current store base as well as its white space opportunity is being undervalued. Slabaugh maintains an Overweight rating and $55 price target on Papa John's shares.
10/03/18
KEYB
10/03/18
INITIATION
KEYB
Sector Weight
Wendy's initiated with a Sector Weight at KeyBanc
KeyBanc analyst Eric Gonzalez initiated Wendy's with a Sector Weight rating. Gonzalez suggests waiting for "signs of accelerating system-wide sales growth," which he believes would narrow its valuation gap to Wendy's peers.
CWH Camping World
$19.05

-0.1 (-0.52%)

08/17/18
NRCS
08/17/18
NO CHANGE
NRCS
Northcoast says channel checks pointing to weakening RV demand
Northcoast analyst Seth Woolf said he has become incrementally more cautious on the Recreation & Leisure Products group as his channel checks are pointing to weakening retail demand. While he believes "the buy-side is clearly expecting to see weak wholesale numbers in the coming months," Woolf also contends that the magnitude of declines could be a surprise. He maintains a Buy rating on Camping World (CWH) and Neutral ratings on LCI Industries (LCII), Thor Industries (THO) and Winnebago (WGO).
08/15/18
JPMS
08/15/18
NO CHANGE
Target $36
JPMS
Overweight
Camping World price target lowered to $36 from $42 at JPMorgan
JPMorgan analyst Ryan Brinkman reiterated an Overweight rating on Camping World but cut his price target to $36 from $42 to reflect lowered estimates and a lower trading multiple. Although the RV industry is cyclical, Brinkman expects that with the current strong industry backdrop, "solid" M&A activities, earnings will likely outperform over the next several years.
08/21/18
BMOC
08/21/18
NO CHANGE
Target $36
BMOC
Outperform
Camping World price target lowered to $36 from $42 at BMO Capital
BMO Capital analyst Gerrick Johnson lowered his price target on Camping World to $36 but kept his Outperform rating after its Investor Day presentation. The analyst notes that his prior concerns with the Gander Mountain asset purchase have been realized when the company recently cut its EBITDA guidance, however he also sees its change in the retail strategy to be "accretive" next year with solid growth potential going into 2019. Specifically, the analyst is positive on Camping World's plans to use Gander Outdoors as a "back door" to bring its RV dealerships into underpenetrated areas without the capital investment that would be needed at acquired dealerships, adding that the multiple on the stock had previously been negatively impacted by the investors' confusion over the company's plans.
10/11/18
BMOC
10/11/18
NO CHANGE
Target $36
BMOC
Outperform
Camping World is 'significantly undervalued', says BMO Capital
BMO Capital analyst Gerrick Johnson kept his Outperform rating and $36 price target on Camping World, saying its stock is "significantly undervalued" after a 53% year-to-date decline brought its forward earning multiple to 7.5-times. Although the analyst lowers his Q3 EPS view to 60c from 68c to reflect the impact of Hurricane Florence in the Carolinas and Virginia, he also sees the company benefiting from the abating inventory headwinds in the RV industry. Johnson adds that Camping World should start to capture market share and experience cross-selling opportunities after settling on its "Gander RV strategy".
DAR Darling Ingredients
$20.67

0.04 (0.19%)

03/01/18
BMOC
03/01/18
DOWNGRADE
BMOC
Market Perform
Darling Ingredients downgraded to Market Perform from Outperform at BMO Capital
03/01/18
BMOC
03/01/18
DOWNGRADE
Target $20
BMOC
Market Perform
Darling Ingredients downgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Kenneth Zaslow downgraded Darling Ingredients to Market Perform but raised his price target to $20 from $19. Zaslow says his fundamental view on the company has not changed, pointing to less compelling risk-reward based on limited upside in the stock price and some near-term headwinds. Specifically, the analyst expects near term earnings to be constrained by weak yellow grease prices, soft meat and bone prices, lackluster South Africa growth, and the impact of the Diamond Green Diesel joint venture downtime.
03/01/18
03/01/18
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. Campbell Soup (CPB) downgraded to Underweight from Neutral at Piper Jaffray by analyst Michael Lavery, who sees multiple expansion as unlikely given his expectations for 1%-1.5% earnings growth in fiscal 2019. Higher interest rates and lower than expected Snyder-Lance operating contribution weigh on the analyst's earnings expectations. 2. MannKind (MNKD) downgraded to Sell from Hold at Maxim by analyst Jason Kolbert, who said the company's Afrezza revenues of $4.5M were at the lower end of recently-lowered guidance and were " clearly disappointing given management's robust marketing plans". Kolbert added that the company has just $44M of cash remaining, having burned through about $120M last year. 3. Darling Ingredients (DAR) downgraded to Neutral from Buy at Goldman Sachs by analyst Adam Samuelson. While the company's Q4 results came in modestly above expectations, the analyst finds the outlook for roughly flat EBITDA in the base business despite recent growth investments disappointing. Samuelson sees a less attractive risk/reward for Darling post the Q4 results. Shares were also downgraded to Market Perform from Outperform at BMO Capital by analyst Kenneth Zaslow, who said his undamental view on the company has not changed, pointing to less compelling risk-reward based on limited upside in the stock price and some near-term headwinds. 4. Gibraltar Industries (ROCK) downgraded to Sector Weight from Overweight at KeyBanc by analyst Kenneth Zener, who said the risk to return is currently balanced. The analyst awais clarity on the company's next portfolio addition and wants to sees a "steady cadence of Solar EBIT margins." He believes, however, the Gibraltar is executing well post its Q4 results. 5. Mohawk (MHK) downgraded to Buy from Conviction Buy at Goldman Sachs. Analyst Samuel Eisner removed Mohawk from the Conviction Buy List citing near-term risks from rising rates and 1H18 risks from increasing costs and ramping capacity that could put a lid on shares near-term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/10/18
BARD
08/10/18
NO CHANGE
Target $24
BARD
Outperform
Baird still sees significant upside for Darling Ingredients
Baird analyst Ben Kallo believes the strategic alignment in the Food segment and other initiatives will position Darling Ingredients for long-term growth. The analyst said he remains a buyer and continues to see significant upside to current share prices. Kallo reiterated his Outperform rating and $24 price target on Darling Ingredient shares.
HCKT Hackett Group
$22.78

0.3 (1.33%)

06/21/18
BRRR
06/21/18
NO CHANGE
Target $22
BRRR
Outperform
Hackett Group trades at attractive entry point, says Barrington
Barrington analyst Vincent Colicchio says Hackett Group shares, trading at a 40% discount to the peer group average, offer an attractive entry point. He expects revenue and non-GAAP earnings growth of 5% and 11% in 2018, respectively, better than growth of 1% and 6% in 2017 on an improvement in the Oracle business and a greater intellectual property contribution. The analyst keeps an Outperform rating on Hackett Group with a $22 price target.
11/09/17
ROTH
11/09/17
UPGRADE
ROTH
Buy
Hackett Group upgraded to Buy from Neutral at Roth Capital
12/14/17
BRRR
12/14/17
NO CHANGE
Target $22
BRRR
Outperform
Hackett Group shares at attractive entry point, says Barrington
Barrington analyst Vincent Colicchio believes shares of Hackett Group are trading at an attractive entry point. The recovery of the Oracle business in 2018 should put the company back on track to achieve management's annual financial objectives, Colicchio tells investors in a research note. He views the current valuation as compelling given the company's better growth prospects next year. The analyst has an Outperform rating on Hackett with a $22 price target.
11/09/17
ROTH
11/09/17
UPGRADE
ROTH
Buy
Hackett Group upgraded to Buy from Neutral at Roth Capital
Roth Capital analyst Jeff Martin upgraded Hackett Group to Buy from Neutral and raised his price target to $20 from $16 after the company reported third quarter results at the high end of guidance that beat estimates. Martin said the premise of the upgrade was Hackett Group being able to return to favorable comparisons in the first quarter of 2018.
FTR Frontier Communications
$5.28

0.28 (5.60%)

03/13/18
GUGG
03/13/18
INITIATION
Target $6
GUGG
Sell
Frontier Communications initiated with a Sell at Guggenheim
Guggenheim analyst Mike McCormack initiated coverage of the Telecom Services space, starting Frontier Communications with a Sell rating and $6 price target, as he believes the Independent Local Exchange Carriers, or ILECs, burdened by legacy revenue are disadvantaged.
05/09/18
SBSH
05/09/18
DOWNGRADE
Target $6.25
SBSH
Sell
Frontier Communications downgraded to Sell from Neutral at Citi
Citi analyst Mike Rollins downgraded Frontier Communications to Sell and cut his price target for the shares to $6.25 from $7.25. The analyst sees continued revenue erosion, more limited cost cutting after Q2 and the 32% increase in outstanding shares from the preferred conversion on June 29 as risks for the stock over next 12 months. Pressures from revenue on OIBDA are likely to lead net debt leverage higher and erode equity value over time, Rollins tells investors in a research note.
06/28/18
SBSH
06/28/18
NO CHANGE
Target $4.5
SBSH
Sell
Frontier Communications price target lowered to $4.50 from $6.25 at Citi
Citi analyst Michael Rollins lowered his price target for Frontier Communications to $4.50 and keeps a Sell rating on the shares. He analyst continues to recommend selling Frontier given the potential for "operations to continue to underwhelm" and net debt leverage to stay elevated. Further, he notes that the shares outstanding will increase on June 29 by 32% with the mandatory preferred equity set for conversion. Frontier is facing an uphill battle over the coming 12 months with revenue erosion likely to continue and a more challenging path to cut costs at the same rate it has for the past 12 months, Rollins tells investors in a research note. He keeps a Sell rating on the shares.
02/28/18
02/28/18
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. Celgene (CELG) downgraded to Hold from Buy at SunTrust by analyst Yatin Suneja after the company received a refusal to file letter from the FDA on ozanimod for relapsing forms of multiple sclerosis. Suneja said that following pipeline setbacks in late 2017, ozanimod was central to his "bull thesis to re-accelerate growth" and provide "much needed diversification away from myeloma." Given the delay, he lowered his ozanimod peak sales estimate to $3.5B from $5B. The refusal to file letter could result in a 24-month or longer delay for ozanimod's launch in relapsing forms of multiple sclerosis, Suneja said. 2. Frontier Communications (FTR) downgraded to Hold from Buy at Jefferies by analyst Scott Goldman. With the dividend now suspended and EBITDA stabilization "still a work in progress," the shares have no near-term catalyst, Goldman said. He believes "significant challenges" remain for Frontier following the dividend suspension. 3. Comcast (CMCSA, CMCSK) downgraded to Neutral from Outperform at Macquarie by analyst Amy Young, who cited uncertainty around the M&A playbook and increased net leverage. Young said Comcast's intention to acquire Sky (SKYAY) diversifies its portfolio and increases international revenues to 25% of total from 9% currently, but exposes it to satellite TV, which faces secular pressures. The analyst views the 12x price tag for Sky as high, questions the synergies, and believes the unpredictability could cap near-term upside. 4. e.l.f. Beauty (ELF) downgraded to Market Perform from Outperform at BMO Capital by analyst Shannon Coyne, who cited the "near-term challenges in the mass category" and heightened competition yielding further pressure on results and the stock in the near term. The analyst also points to the management having lowered its expectations for the 3rd time in 6 months, adding that it may take some time for investor confidence to return. Despite the downgrade, the analyst believes that e.l.f "has material white space in existing and new retailers" as well as an "unmatched strong value proposition." 5. Maxim Integrated (MXIM) downgraded to Neutral from Outperform at Macquarie by analyst Srini Pajjuri, who said shares have significantly outperformed the SOX index year-to-date and believes healthy fundamentals are now backed in, combined with some M&A premium. Pajjuri believes further upside is limited on a fundamental basis and believes comps will get tougher in the second half of 2018 and sees risk of higher volatility in Consumer as Samsung GS9 builds fade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GDDY GoDaddy
$72.61

-0.49 (-0.67%)

10/11/18
SBSH
10/11/18
UPGRADE
Target $86
SBSH
Buy
GoDaddy upgraded to Buy from Neutral at Citi
Citi analyst Mark May upgraded GoDaddy to Buy with an $86 price target. The analyst views the recent pullback in the shares as a buying opportunity.
10/11/18
SBSH
10/11/18
UPGRADE
Target $86
SBSH
Buy
Citi makes 'opportunistic' upgrade of GoDaddy to Buy
Citi analyst Mark May upgraded GoDaddy to Buy from Neutral with an unchanged price target of $86. The analyst is making an "opportunistic" upgrade following the recent pullback in the shares. He believes GoDaddy has reached valuation levels that warrant a Buy rating. The company is a "nicely" profitable, high free cash flow generative business with highly recurring subscription-based revenue, May tells investors in a research note.
10/11/18
10/11/18
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. GoDaddy (GDDY) upgraded to Buy from Neutral at Citi with analyst Mark May saying he views the recent pullback in the shares as a buying opportunity. 2. Lumentum (LITE) upgraded to Overweight from Neutral at JPMorgan with analyst Samik Chatterjee citing the recent pullback in the shares and a stronger outlook in telecom. 3. Lear (LEA) upgraded to Buy from Neutral at Goldman Sachs with analyst David Tamberrino saying he views the company as a "potential market share winner" with "solid" free cash flow and an "undemanding" valuation. 4. SiteOne Landscape (SITE) upgraded to Neutral from Sell at UBS with analyst Steven Winoker saying the stock now better reflects the company's near-term risks and long-term rollup strategy. 5. WSFS Financial (WSFS) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Michael Perito saying the pullback in shares since the August Beneficial Bancorp acquisition announcement overlooks the "critical merits of the transaction and the historic track record" of WSFS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/02/18
JPMS
11/02/18
NO CHANGE
JPMS
GoDaddy, Wix.com unaffected by VeriSign agreement, says JPMorgan
VeriSign (VRSN) last night announced that it reached an agreement with the Department of Commerce that gives the company the ability to once again raise prices on .com names by 7% max each of the last four years of its new six-year agreement, JPMorgan analyst Sterling Auty tells investors in a research note. This pricing flexibility is similar to what VeriSign had prior to 2012, the analyst adds. He believes that to the extent registrars can pass any price increases through to customers, like they did the last couple of price increases pre-2012, VeriSign's agreement should be a non-event to companies like GoDaddy (GDDY) and "definitely a non-event" to Wix.com (WIX), which he notes is not a registrar. However, if pricing in domains comes under pressure, any registry price increases could have an adverse effect on registrar gross margins like GoDaddy's (GDDY), says Auty.
DXCM DexCom
$132.68

1.78 (1.36%)

10/19/18
GSCO
10/19/18
DOWNGRADE
Target $44
GSCO
Sell
Nevro downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Isaac Ro downgraded Nevro (NRVO) to Sell and lowered his price target for the shares to $44 from $60. The company's cycle of negative estimate revisions is not yet over, Ro tells investors in a research note where he also upgraded DexCom (DXCM) to Neutral. The analyst thinks consensus revenue expectations for Nevro are still too high amid "ramping" competition, the company's ongoing patent litigation with Boston Scientific (BSX) and the hiring disruption in its sales force.
10/29/18
PIPR
10/29/18
NO CHANGE
PIPR
Overweight
Piper says any positive news on DexCom in non-intensive will be well received
Piper Jaffray analyst JP McKim noted to investors that the FDA website shows that Dexcom got 510K approval for an "integrated continuous glucose monitoring system for non-intensive diabetes management" called the Dexcom G6 Glucose Program Continuous Glucose Monitoring System on October 26. While he is unclear how the system is different from the currently marketed device, he notes the 501K application specifically states it is intended to replace finger stick testing for people who do not have a significant risk of hypoglycemia. McKim, who believes the company is moving beyond just providing the most accurate CGM chart into technology services, finds it interesting that the filing states the device "can be used alone or in conjunction with digitally connected devices or services," he tells investors. McKim expects to hear more about this 510K approval on the company's earnings call next week or at its analyst day in early December and thinks any positive update on the non-intensive diabetes population will be well received by investors. He keeps an Overweight rating on DexCom shares.
11/05/18
PIPR
11/05/18
NO CHANGE
Target $150
PIPR
Overweight
DexCom clearly 'making moves' in iCGM pathway, says Piper Jaffray
Piper Jaffray analyst JP McKim noted that the FDA website shows that Dexcom got 510K approval for an "integrated continuous glucose monitoring system for non-intensive diabetes management" and said the number one question he got was if this was the Verily product. He thinks a newly released summary document implies that it is not, but instead a product specific for those without significant risk of hypoglycemia. McKim, who expects to hear a lot more on the company's earnings call tomorrow night, said that "what is clear is that [Dexcom] is making moves." He sees the earnings call tomorrow night setting up for a lot of new updates that he thinks will be positively received and keeps an Overweight rating and $150 price target on Dexcom ahead of the event.
10/19/18
GSCO
10/19/18
UPGRADE
Target $125
GSCO
Neutral
DexCom upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Isaac Ro upgraded DexCom to Neutral and raised his price target for the shares to $125 from $74. The analyst says his Sell thesis has not worked, with DexCom shares up 84.1% since his April 4 downgrade to Sell. Ro now believes the G5/G6 upgrade cycle will continue to be stronger than he previously expected based on his review of various resources including app data, channel checks, and management commentary. However, he's not taking a bullish view on DexCom as he believes competition and pricing will continue to intensify.
DVN Devon Energy
$32.93

-0.17 (-0.51%)

10/16/18
MUFG
10/16/18
NO CHANGE
Target $48
MUFG
Neutral
Devon Energy price target raised to $48 at MUFG after Q3 production estimate
MUFG analyst Michael McAllister nudged his price target on Devon Energy to $48 from $46 after its Q3 production and capital spending forecasts. The analyst notes that the weakness in Canada was offset by higher U.S. production than anticipated due to better-than-expected NGL recoveries, while also forecasting high price environment to benefit NGL names like Devon with "significant exposure". McAllister also keeps his Neutral rating on the shares, stating that the depressed WCS pricing in Canada balances out the strength in NGL.
10/24/18
SOCO
10/24/18
UPGRADE
SOCO
Overweight
Devon Energy upgraded to Overweight from Equalweight at Capital One
10/24/18
10/24/18
UPGRADE
Target $56

Overweight
Devon Energy upgraded to Overweight on valuation at Capital One
As previously reported, Capital One upgraded Devon Energy to Overweight from Equalweight with a $56 price target. The firm's analyst said shares have underperformed the group and valuation significantly discounts headwinds.
10/16/18
JPMS
10/16/18
NO CHANGE
JPMS
Time to buy Devon Energy after recent pullback, says JPMorgan
JPMorgan says it's time to buy the recent pullback in shares of Devon Energy following this morning's Q3 production preannouncement. The firm believes Devon's capital efficiency in the U.S. are trumping its challenges with Jackfish.
CARA Cara Therapeutics
$19.72

0.13 (0.66%)

09/13/18
JEFF
09/13/18
INITIATION
Target $30
JEFF
Buy
Cara Therapeutics initiated with a Buy at Jefferies
Jefferies analyst Matthew Andrews started Cara Therapeutics with a Buy rating and $30 price target.
09/13/18
JEFF
09/13/18
INITIATION
Target $30
JEFF
Buy
Jefferies starts Cara Therapeutics with Buy rating, $30 price target
Jefferies analyst Matthew Andrews initiated coverage of Cara Therapeutics with a Buy rating and $30 price target. The company's first-in-class Korsuva reduces itch and pain without causing opioid-related side effect, Andrews tells investors in a research note. The analyst expects the two ongoing Phase III trials to generate "similar positive data due to similar protocol and robust prior positive data." He views the top-line Phase III data in mid-2019 as the next key catalyst for Cara shares.
09/21/18
CANT
09/21/18
INITIATION
Target $27
CANT
Overweight
Cara Therapeutics initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald started Cara Therapeutics with an Overweight rating and $27 price target.
09/21/18
CANT
09/21/18
INITIATION
Target $27
CANT
Overweight
Cara Therapeutics initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Charles Duncan last night initiated coverage of Cara Therapeutics with an Overweight rating and $27 price target. The analyst, who started coverage on seven Neuro-Innovator and Platform-Enabled Therapeutic companies, believes that "biotech has entered a golden age of innovation and productivity across many therapeutic areas."
KTOS Kratos Defense
$13.18

0.13 (1.00%)

07/31/18
ADAM
07/31/18
NO CHANGE
Target $15
ADAM
Buy
Canaccord cautious on Kratos Q2 ahead of second half inflection
Canaccord analyst Ken Herbert said he is cautious on Kratos Defense ahead of Q2 results, but he sees tactical opportunities coming into view that brings it to an inflection in the second half of the year. The analyst said his assumptions in the Government Solutions segment is more conservative, but he believes the Unmanned segment could grow 35% organically in the quarter. He also believes progress on the tactical drone programs is progressing at an accelerated pace. Herbert reiterated his Buy rating and $15 price target on Kratos Defense shares.
06/05/18
ADAM
06/05/18
NO CHANGE
Target $15
ADAM
Buy
Kratos Defense visibility reinforces revenue conviction at Canaccord
Canaccord analyst Ken Herbert met with Kratos Defense management and came away with reinforced conviction about the company's revenue upside from both the legacy target drone business and the emerging tactical drone opportunity. He also sees the company taking steps on improving margins and execution upside. Herbert reiterated his Buy rating and $15 price target on Kratos Defense shares.
04/18/18
ADAM
04/18/18
NO CHANGE
Target $15
ADAM
Buy
Gremlins contract to Dynetics a positive for Kratos, says Canaccord
Canaccord Genuity analyst Ken Herbert says DARPA awarding a $32M contract to Dynetics for the Phase III development of the Gremlins program is a net positive for Kratos Defense & Security Solutions. Under the contract, Kratos will be the sole supplier of the drones, which will likely account for 30%-40% of the contract value, Herbert tells investors in a research note. The analyst sees a $10M in contribution for Kratos in 2018-2019, but believes the contract points to both the strong positioning of the company in the unmanned market and potential upside from its tactical opportunity. Herbert points out that the program goal is to acquire aircraft at $700,000 each in lots of 1,000, indicating upside of well over $100M for Kratos. The stock and estimates does not reflect much upside from the tactical drone opportunities, Herbert writes. He keeps a Buy rating on Kratos Defense with a $15 price target. The stock in early trading is up 5% to $11.55.
05/11/18
ADAM
05/11/18
NO CHANGE
Target $15
ADAM
Buy
Kratos Defense results support full-year optimism, says Canaccord
Canaccord analyst Ken Herbert said the Q1 results from Kratos Defense support higher confidence in the execution capabilities as well as top-line upside. He noted the highlight in the quarter was the strong performance of the KUSD segment and the company maintained its full year guidance. Herbert reiterated his Buy rating and $15 price target on Kratos Defense shares.

TODAY'S FREE FLY STORIES

14:05
12/13/18
12/13
14:05
12/13/18
14:05
General news
FX Action: USD-JPY »

FX Action: USD-JPY…

14:01
12/13/18
12/13
14:01
12/13/18
14:01
General news
Treasury Budget data reported »

November Treasury Budget…

DFFN

Diffusion Pharmaceuticals

$0.23

0.0176 (8.32%)

14:01
12/13/18
12/13
14:01
12/13/18
14:01
Hot Stocks
Diffusion Pharmaceuticals announces 1-for-15 reverse stock split »

Diffusion Pharmaceuticals…

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

See Street Research during your Free Trial

QSR

Restaurant Brands

$54.38

0.35 (0.65%)

14:00
12/13/18
12/13
14:00
12/13/18
14:00
Options
Notable call activity in Restaurant Brands as bullish position is adjusted »

Notable call activity in…

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

See Street Research during your Free Trial

LVS

Las Vegas Sands

$55.27

-0.19 (-0.34%)

, WYNN

Wynn Resorts

$108.68

-0.79 (-0.72%)

13:59
12/13/18
12/13
13:59
12/13/18
13:59
Periodicals
Chanos shorting Wynn Resorts, Las Vegas Sands amid trade war, CNBC reports »

Short-seller Jim Chanos…

LVS

Las Vegas Sands

$55.27

-0.19 (-0.34%)

WYNN

Wynn Resorts

$108.68

-0.79 (-0.72%)

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

See Street Research during your Free Trial

SBUX

Starbucks

$66.80

0.7 (1.06%)

13:56
12/13/18
12/13
13:56
12/13/18
13:56
Hot Stocks
Breaking Hot Stocks news story on Starbucks »

Starbucks sees growing…

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

See Street Research during your Free Trial

  • 13

    Dec

  • 14

    Dec

SBUX

Starbucks

$66.81

0.71 (1.07%)

13:56
12/13/18
12/13
13:56
12/13/18
13:56
Hot Stocks
Breaking Hot Stocks news story on Starbucks »

Starbucks sees U.S.…

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

See Street Research during your Free Trial

  • 13

    Dec

  • 14

    Dec

13:55
12/13/18
12/13
13:55
12/13/18
13:55
General news
U.S. equities remain mixed after rotating lower »

U.S. equities remain…

CSTM

Constellium

$8.39

-0.02 (-0.24%)

13:51
12/13/18
12/13
13:51
12/13/18
13:51
Hot Stocks
Constellium trading higher by 1.67% during 2018 Analyst Day presentation »

Constellium management is…

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

See Street Research during your Free Trial

  • 13

    Dec

  • 17

    Dec

  • 18

    Dec

SBUX

Starbucks

$66.67

0.57 (0.86%)

13:45
12/13/18
12/13
13:45
12/13/18
13:45
Hot Stocks
Starbucks CEO says customer behaviors shifting rapidly, company must adapt »

Starbucks CEO Kevin…

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

See Street Research during your Free Trial

  • 13

    Dec

  • 14

    Dec

ADBE

Adobe

$245.82

0.38 (0.15%)

, COST

Costco

$225.99

-1.83 (-0.80%)

13:42
12/13/18
12/13
13:42
12/13/18
13:42
Earnings
Notable companies reporting after market close »

Notable companies…

ADBE

Adobe

$245.82

0.38 (0.15%)

COST

Costco

$225.99

-1.83 (-0.80%)

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

See Street Research during your Free Trial

  • 13

    Dec

  • 13

    Dec

SPY

SPDR S&P 500 ETF Trust

$264.81

-0.72 (-0.27%)

13:40
12/13/18
12/13
13:40
12/13/18
13:40
Options
Four-day hedge opened in SPYders »

Four-day hedge opened in…

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

See Street Research during your Free Trial

WYNN

Wynn Resorts

$109.16

-0.31 (-0.28%)

, LVS

Las Vegas Sands

$55.16

-0.3 (-0.54%)

13:36
12/13/18
12/13
13:36
12/13/18
13:36
Periodicals
Breaking Periodicals news story on Wynn Resorts, Las Vegas Sands »

Chanos shorting Wynn…

WYNN

Wynn Resorts

$109.16

-0.31 (-0.28%)

LVS

Las Vegas Sands

$55.16

-0.3 (-0.54%)

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

See Street Research during your Free Trial

JD

JD.com

$22.72

0.82 (3.74%)

13:30
12/13/18
12/13
13:30
12/13/18
13:30
Options
Call spreads in JD as shares gain 3.5% and a bullish position is adjusted »

Call spreads in JD as…

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

See Street Research during your Free Trial

HIL

Hill International

$2.98

-0.11 (-3.56%)

13:29
12/13/18
12/13
13:29
12/13/18
13:29
Hot Stocks
Hill International selected by the ERBD to provide railway supervision services »

Hill International…

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

See Street Research during your Free Trial

LBAI

Lakeland Bancorp

$14.83

-0.27 (-1.79%)

13:27
12/13/18
12/13
13:27
12/13/18
13:27
Hot Stocks
Highlands Bancorp investors approve merger with Lakeland Bancorp »

Lakeland Bancorp and…

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

See Street Research during your Free Trial

NLSN

Nielsen

$25.70

-0.36 (-1.38%)

, BX

Blackstone

$30.22

-0.28 (-0.92%)

13:24
12/13/18
12/13
13:24
12/13/18
13:24
Periodicals
Nielsen to hold talks with potential buyers in January, CNBC says »

Nielsen (NLSN) intends to…

NLSN

Nielsen

$25.70

-0.36 (-1.38%)

BX

Blackstone

$30.22

-0.28 (-0.92%)

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

See Street Research during your Free Trial

TGT

Target

$66.44

-1.36 (-2.01%)

, WMT

Walmart

$92.78

-0.34 (-0.37%)

13:23
12/13/18
12/13
13:23
12/13/18
13:23
Hot Stocks
New York AG sues Target, Walmart over lead-contaminated toy sales »

New York Attorney General…

TGT

Target

$66.44

-1.36 (-2.01%)

WMT

Walmart

$92.78

-0.34 (-0.37%)

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

See Street Research during your Free Trial

  • 03

    Mar

HIIQ

Health Insurance Innovations

$29.08

-0.985 (-3.28%)

13:21
12/13/18
12/13
13:21
12/13/18
13:21
Hot Stocks
Breaking Hot Stocks news story on Health Insurance Innovations »

Health Insurance…

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

See Street Research during your Free Trial

  • 13

    Dec

MET

MetLife

$39.30

-0.27 (-0.68%)

13:20
12/13/18
12/13
13:20
12/13/18
13:20
Options
Call buyer in MetLife lays out $57K for one-day trade »

Call buyer in MetLife…

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

See Street Research during your Free Trial

  • 14

    Dec

HIIQ

Health Insurance Innovations

$29.08

-0.985 (-3.28%)

13:20
12/13/18
12/13
13:20
12/13/18
13:20
Hot Stocks
Breaking Hot Stocks news story on Health Insurance Innovations »

Health Insurance…

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

See Street Research during your Free Trial

  • 13

    Dec

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
12/13/18
12/13
13:17
12/13/18
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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

See Street Research during your Free Trial

$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
12/13/18
12/13
13:16
12/13/18
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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

See Street Research during your Free Trial

MELI

MercadoLibre

$338.18

-23.4 (-6.47%)

13:15
12/13/18
12/13
13:15
12/13/18
13:15
Options
MercadoLibre put volume heavy and directionally bearish »

Bearish flow noted in…

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

See Street Research during your Free Trial

13:15
12/13/18
12/13
13:15
12/13/18
13:15
General news
Treasury's $16 B 30-year reopening was ok, but nothing special »

Treasury's $16 B…

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.