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NLSN

Nielsen

$26.10

-0.44 (-1.66%)

, DNB

Dun & Bradstreet

$141.94

0.13 (0.09%)

12:21
11/14/18
11/14
12:21
11/14/18
12:21

Paulson enters Nielsen, Dun & Bradstreet during Q3, exits CenturyLink

John Paulson's Paulson & Co. disclosed in a regulatory filing its holdings as of September 30, 2018. Paulson made nine new buys during the third quarter, including, by size of position, Nielsen Holdings (NLSN), Dun & Bradstreet (DNB), Pandora Media (P), CME Group (CME) and BrightSphere Investment Group (BSIG). The fund exited eight positions during the quarter, including by size of previous position, Vistra Energy (VST), Energen (EGN), CenturyLink (CTL), Comcast (CMCSA) and Hain Celestial (HAIN). Paulson increased its stake in six holdings, including by size, Discovery (DISCA), Shire (SHPG), Aetna (AET), Randgold Resources (GOLD) and NXP Semiconductors (NXPI). The fund reduced its stake in 13 holdings, including by size T-Mobile (TMUS), Akorn (AKRX), Mitel Networks (MITL), Mallinckrodt (MNK) and Allergan (AGN). Paulson & Co.'s top holdings as of September 30, in order of size, were Bausch Health (BHC), Shire, SPDR Gold Shares (GLD), Mylan (MYL) and Discovery.

NLSN

Nielsen

$26.10

-0.44 (-1.66%)

DNB

Dun & Bradstreet

$141.94

0.13 (0.09%)

P

Pandora

$8.90

0.18 (2.06%)

CME

CME Group

$187.69

0.31 (0.17%)

BSIG

BrightSphere

$12.89

0.06 (0.47%)

VST

Vistra Energy

$23.79

-0.53 (-2.18%)

EGN

Energen

$70.12

1 (1.45%)

CTL

CenturyLink

$18.87

0.09 (0.48%)

CMCSA

Comcast

$38.08

0.36 (0.95%)

HAIN

Hain Celestial

$22.24

0.16 (0.72%)

DISCA

Discovery

$32.15

0.04 (0.12%)

SHPG

Shire

$180.74

-0.29 (-0.16%)

AET

Aetna

$209.96

0.28 (0.13%)

GOLD

Randgold

$78.96

1.01 (1.30%)

NXPI

NXP Semiconductors

$82.41

0.63 (0.77%)

TMUS

T-Mobile

$68.03

-0.42 (-0.61%)

AKRX

Akorn

$6.74

-0.07 (-1.03%)

MITL

Mitel

$10.98

(0.00%)

MNK

Mallinckrodt

$31.04

-0.045 (-0.14%)

AGN

Allergan

$160.11

-2.525 (-1.55%)

BHC

Bausch Health

$26.89

0.24 (0.90%)

GLD

SPDR Gold Shares

$113.82

0.14 (0.12%)

MYL

Mylan

$34.60

-1.16 (-3.24%)

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NLSN Nielsen
$26.10

-0.44 (-1.66%)

08/29/18
PIPR
08/29/18
NO CHANGE
PIPR
Piper calls IHS Markit, S&P Global top picks in Information Services
Piper Jaffray analyst Peter Appert calls IHS Markit (IHS) and S&P Global (SPGI) his top picks in the Information Services sector. Dun & Bradstreet's (DNB) pending sale to a private equity group and Nielsen's (NLSN) strategic review refocuses investor attention on M&A activity in the sector, Appert tells investors in a research note. He says that while "rich" transaction values provide an "intriguing valuation backstop for the group," he continues to focus on operating fundamentals as the key driver of stock performance.
08/23/18
GSCO
08/23/18
UPGRADE
Target $25
GSCO
Neutral
Nielsen upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst George Tong upgraded Nielsen Holdings to Neutral and raised his price target for the shares to $25 from $20. With activist Elliott Management pushing for a sale and increased deal activity in the Information Services sector, Tong sees increased likelihood of Nielsen being involved in a transaction. His upgrade to Neutral and price target increase come after the analyst incorporated a potential takeover into his model.
08/23/18
08/23/18
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. Target (TGT) upgraded to Outperform from Market Perform at Telsey Advisory. 2. Deckers Brands (DECK) upgraded to Neutral from Negative at Susquehanna with analyst Sam Poser saying wholesale accounts are more positive than just a few months ago following checks with both large and small retailers. 3. Nielsen (NLSN) upgraded to Neutral from Sell at Goldman Sachs with analyst George Tong saying with activist Elliott Management pushing for a sale and increased deal activity in the Information Services sector, he sees increased likelihood of Nielsen being involved in a transaction. 4. Finisar (FNSR) upgraded to Overweight from Neutral at Piper Jaffray with analyst Troy Jensen saying China demand is returning via Huawei and ZTE (ZTCOY), Finisar is facing easy comps following five quarters of depressed demand and the upcoming 400G cycle should provide a tailwind in 2019. 5. Coca-Cola Amatil (CCLAY) upgraded to Equal Weight from Underweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/23/18
08/23/18
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. ROSENBLATT BOOSTS AMD PRICE TARGET TO STREET HIGH: Rosenblatt analyst Hans Mosesmann raised his price target for AMD (AMD) shares to $30 from $27. Mosesmann's new price target represents the high among Wall Street sell-side analysts. Following the meetings, Mosesmann has renewed conviction in AMD's multi-year double digit growth profile. Further, he's impressed by the analysis investors are doing in the name after years of disregard. AMD is up 4.1% in late morning trading. CANTOR CUTS AETNA TO NEUTRAL: Cantor Fitzgerald analyst Steven Halper downgraded Aetna (AET) to Neutral from Overweight with a price target of $202. The stock now trades at just a 4.6% discount to the implied CVS Health (CVS) acquisition value of about $207 per share, Halper said. He believes the narrowed deal spread reflects an increased likelihood of regulatory approval. Halper cites limited potential upside for his downgrade of Aetna to Neutral. NIELSEN UPGRADED TO NEUTRAL AT GOLDMAN: Goldman Sachs analyst George Tong upgraded Nielsen Holdings (NLSN) to Neutral and raised his price target for the shares to $25 from $20. With activist Elliott Management pushing for a sale and increased deal activity in the Information Services sector, Tong sees increased likelihood of Nielsen being involved in a transaction. His upgrade to Neutral and price target increase come after the analyst incorporated a potential takeover into his model. Nielsen is up 3.3% in late morning trading. IMPERIAL SEES SUBSCRIBER UPSIDE FOR NETFLIX: Imperial Capital analyst David Miller believes Netflix's (NFLX) experiment with ending billing through Apple's (AAPL) app store in 33 countries outside the U.S. likely implies upside to its Q3 international subscriber guidance. The analyst said he has a tough time believing that Netflix would "experiment" with billing infrastructure mid-quarter if it did not believe that its international subscriber levels were trending ahead of guidance. As such, Miller raised his Q3 international subscriber estimate to 4.46M from 4.35M. He kept an Outperform rating on Netflix with a $494 price target. TARGET GETS UPGRADE AND DOWNGRADE: Target (TGT) was upgraded to Outperform from Market Perform at Telsey Advisory, and downgraded to Peer Perform from Outperform at Wolfe Research.
DNB Dun & Bradstreet
$141.94

0.13 (0.09%)

11/09/18
PIPR
11/09/18
UPGRADE
Target $25
PIPR
Overweight
Cannae Holdings upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Jason Deleeuw upgraded Cannae Holdings (CNNE) to Overweight with an unchanged price target of $25. The stock is trading at a 40% discount versus the analyst's $27.37 one-year economic value estimate for Cannae's current portfolio of investments. Further, Deleeuw believes the company and its investment partners will drive "significant" Dun & Bradstreet (DNB) acquisition cost and revenue synergies. He thinks yesterday's selloff has brought an attractive entry point for Cannae Holdings shares.
08/10/18
LEHM
08/10/18
DOWNGRADE
Target $145
LEHM
Equal Weight
Dun & Bradstreet downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Manav Patnaik downgraded Dun & Bradstreet to Equal Weight while raising his price target for the shares to $145 from $140. The analyst cut his rating after the company agreed to be acquired by an investor group for $145 per share in cash.
06/18/18
06/18/18
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. Redfin (RDFN) was downgraded to Sell from Neutral at Goldman Sachs while Zillow (Z, ZG) was downgraded to Neutral from Buy. 2. Dun & Bradstreet (DNB) downgraded to Neutral from Outperform at Baird with analyst Jeffrey Meuler saying he believes any potential take-out is already priced into the shares, the current valuation seems to limit potential upside, and the business requires more substantial changes to return it to sustainable organic growth. 3. Hibbett Sports (HIBB) downgraded to Underperform from Buy at BofA/Merrill analyst Rafe Jadrosich saying he expects negative same-store-sales declines in Q4 and continuing through 2020 as Hibbett laps the ecommerce launch and excess inventory clearance. 4. Cheesecake Factory (CAKE) downgraded to Neutral on valuation at BTIG with analyst Peter Saleh citing recent share strength. 5. Intel (INTC) downgraded to Underperform from Market Perform at Northland. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
P Pandora
$8.90

0.18 (2.06%)

09/27/18
MKMP
09/27/18
NO CHANGE
Target $9.15
MKMP
Neutral
Pandora price target raised to $9.15 at MKM Partners on Sirius XM deal
MKM Partners analyst Rob Sanderson raised his price target on Pandora (P) to $9.15 from $8 after its announced agreement to be acquired by Sirius XM (SIRI), saying the deal makes strategic sense as it creates a "stronger force within the music streaming services market". The analyst notes that while Pandora has a go-shop period, he doubts that a competitive bid will emerge. Sanderson further states that while the partnership will allow Sirius to "differentiate streaming services with its strong OEM presence", the near-term should see "minimal applicability" until next-generation devices penetrate its in-car fleet. The analyst also maintains his Neutral rating on Pandora.
11/06/18
ADAM
11/06/18
DOWNGRADE
Target $9
ADAM
Hold
Pandora downgraded to Hold from Buy at Canaccord
Canaccord analyst Maria Ripps downgraded Pandora (P) to Hold from Buy following its Q3 results. The analyst noted the results showed strong subscriber additions, growth in advertising, and improved gross margins. The company is being acquired by Sirius XM (SIRI), so Ripps lowered her price target to $9 from $11 on Pandora shares to be in-line with the implied deal price given the exchange ratio with Sirius XM.
10/24/18
GSCO
10/24/18
DOWNGRADE
Target $10
GSCO
Neutral
Pandora downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Heath Terry downgraded Pandora (P) to Neutral from Buy and lowered his price target to $10 from $12 after it announced the completion of its "go-shop" period as part of the acquisition process by SiriusXM (SIRI). The analyst notes that the company now enters a "no-shop" period which "limits its ability to solicit alternative proposals", adding that the deal's fixed share exchange ratio implies a "per share price of Pandora common stock of $8.14". Terry adds that his new price target also reflects the "compression in comp group multiples".
10/01/18
BMOC
10/01/18
DOWNGRADE
Target $10
BMOC
Market Perform
Pandora downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Daniel Salmon downgraded Pandora (P) to Market Perform from Outperform and lowered his price target to $10 from $13 after last week's announcement of a takeover by SiriusXM (SIRI). Given the all-stock deal, the analyst notes that Pandora performance will be tied to that of SiriusXM in the very near term, while also assigning about a 15% probability of a competitive bid emerging during the go-shop period, which lasts until October 24th. In his bear case, to which Salmon assigns about a 5% probability, the deal for Pandora falls through because of regulatory hurdles or shareholder objection.
CME CME Group
$187.69

0.31 (0.17%)

07/10/18
07/10/18
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. Spotify (SPOT) initiated with a Perform at Oppenheimer. 2. CME Group (CME) initiated with a Neutral at Compass Point. 3. Weight Watchers (WTW) initiated with an Overweight at KeyBanc. 4. Fossil (FOSL) initiated with an Overweight at KeyBanc. 5. Alvarion (ALVR) initiated with a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/05/18
RSBL
09/05/18
INITIATION
Target $177
RSBL
Neutral
CME Group initiated with a Neutral at Rosenblatt
Rosenblatt analyst Ken Hill initiated CME Group with a Neutral and $177 price target saying expectations for higher volumes are reflected in valuation.
09/07/18
WELS
09/07/18
NO CHANGE
Target $115
WELS
Outperform
Cboe risk/reward attractive heading into fall, says Wells Fargo
Wells Fargo analyst Christopher Harris believes the VIX complex volumes bottomed in August, creating and attractive risk/reward for shares of Cboe Global Markets (CBOE) heading into the fall. Supporting data include steadily rising open interest trends, recent improvement in volume trends and better VIX exchange-traded product flows, Harris tells investors in a research note. In addition, Cboe's relative valuation versus CME Group (CME) "has rarely been this low," the analyst adds. He keeps an Outperform rating on Cboe Global Markets with a $115 price target.
10/08/18
JEFF
10/08/18
NO CHANGE
Target $203
JEFF
Buy
CME Group price target raised to $203 from $190 at Jefferies
Jefferies analyst Daniel Fannon raised his price target for CME Group to $203 and keeps a Buy rating on the shares after spending time with management. While September volumes came in slightly below expectations, open interest figures continue to grow and the macro backdrop remains conducive to higher volatility, Fannon tells investors in a research note. further, he believes the NEX transaction appears to be on track to close before year end and should provide both earnings accretion and additional revenue growth opportunities. The analyst keeps a Buy rating on CME Group.
BSIG BrightSphere
$12.89

0.06 (0.47%)

10/09/18
SBSH
10/09/18
NO CHANGE
Target $17.5
SBSH
Buy
BrightSphere added U.S. Focus List at Citi
Citi analyst William Katz added BrightSphere Investment Group to his firm's U.S. Focus List while keeping a Buy rating on the shares with a $17.50 price target. An "outsized" buyback could be incrementally likely in the short term from a third party, Katz tells investors in a research note. Such a buyback, the analyst believes, should reduce the ownership overhang on the stock and enhance the float, resulting in less of a valuation discount for BrightSphere.
04/30/18
SDLR
04/30/18
UPGRADE
SDLR
Buy
BrightSphere upgraded to Buy from Hold at Sandler O'Neill
08/08/18
SBSH
08/08/18
NO CHANGE
SBSH
Citi opens '90 Day Positive Catalyst Watch' on BrightSphere
Citi analyst William Katz opened a "90 Day Positive Catalyst Watch" on shares of BrightSphere Investment Group. The analyst believes sentiment on the stock "has swung overly negative, creating an incrementally favorable entry point." He keeps a Buy rating on the shares.
VST Vistra Energy
$23.79

-0.53 (-2.18%)

05/01/18
SBSH
05/01/18
INITIATION
Target $27
SBSH
Buy
Vistra Energy reinstated with a Buy at Citi
Citi analyst Praful Mehta reinstated coverage of Vistra Energy with a Buy rating and raised his price target for the shares to $27 from $22. Vistra is well positioned to benefit from the market tightening in Texas, Mehta tells investors in a research note. He also expects management to start a dividend, which he feels will help attract a stable investor base.
10/25/18
RHCO
10/25/18
UPGRADE
Target $26
RHCO
Buy
Vistra Energy upgraded to Buy at SunTrust on valuation and capital program
As reported earlier, SunTrust analyst Ali Agha upgraded Vistra Energy to Buy from Hold and also raised his price target to $26 from $25. The analyst cites an "attractive entry point" in the stock at current price levels following the recent weakness along with his expectations of a "more aggressive" capital allocation plan in the company's upcoming earnings call. Agha further points to "strong leverage to any improvement in the Texas power market" that would benefit Vistra Energy.
10/25/18
RHCO
10/25/18
UPGRADE
RHCO
Buy
Vistra Energy upgraded to Buy from Hold at SunTrust
03/28/18
MACQ
03/28/18
INITIATION
Target $24
MACQ
Outperform
Vistra Energy initiated with an Outperform at Macquarie
Macquarie started Vistra Energy with an Outperform rating and $24 price target.
EGN Energen
$70.12

1 (1.45%)

09/07/18
GHSC
09/07/18
DOWNGRADE
Target $73
GHSC
Neutral
Energen downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst Mike Kelly downgraded Energen (EGN) to Neutral from Buy with a $73 price target due to the pending acquisition by Diamondback Energy (FANG).
09/11/18
ARGS
09/11/18
DOWNGRADE
ARGS
Hold
Energen downgraded to Hold at Argus on buyout
As reported earlier, Argus analyst Bill Selesky downgraded Energen (EGN) to Hold after the announcement of its $9.2B buyout by Diamondback Energy (FANG). The analyst notes that there upside to his prior price target of $74 is limited from current levels and justifies a neutral stance, adding that while both boards have approved the deal, it still requires shareholder approval.
09/11/18
ARGS
09/11/18
DOWNGRADE
ARGS
Hold
Energen downgraded to Hold from Buy at Argus
09/19/18
NASC
09/19/18
DOWNGRADE
NASC
Hold
Energen downgraded to Hold from Buy at National Alliance
CTL CenturyLink
$18.87

0.09 (0.48%)

11/09/18
OPCO
11/09/18
NO CHANGE
Target $22
OPCO
Outperform
CenturyLink price target cut to $22 from $24 at Oppenheimer
Oppenheimer analyst Timothy Horan backed an Outperform rating on CenturyLink but lowered his price target to $22 from $24 after the company missed Q3 revenue and EBITDA by 1%. In a research note to investors, Horan says that while management is enhancing its enterprise services to bolster its competitive position, the company faces increasing pressure from cloud-based, cable and wireless rivals.
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.
10/02/18
JEFF
10/02/18
NO CHANGE
Target $23
JEFF
Buy
CenturyLink playbook unlikely to change under new CFO, says Jefferies
Jefferies analyst Scott Goldman says a meeting with interim CFO Neel Dev reinforced his view that CenturyLink's playbook is unlikely to change. While significant cost-cutting opportunities still remain, Dev plans to emphasize revenue improving initiatives, Goldman tells investors in a research note. The analyst, who admits the initiatives will likely take time to develop and that investors remain somewhat skeptical, continues to see upside to CenturyLink shares given its EBITDA growth prospects and dividend sustainability. He keeps a Buy rating on the shares with a $23 price target.
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.
CMCSA Comcast
$38.08

0.36 (0.95%)

11/08/18
11/08/18
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Stanley Black & Decker (SWK) initiated with a Hold at Deutsche Bank. 2. Comcast (CMCSA) resumed with an Overweight at Morgan Stanley while Amarin (AMRN) and Immunomedics (IMMU) were assumed with a Buy at the firm. 3. Broadcom (AVGO) resumed with a Buy at Deutsche Bank and reinstated 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.
11/08/18
MSCO
11/08/18
INITIATION
Target $46
MSCO
Overweight
Comcast resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne resumed coverage of Comcast (CMCSA) with an Overweight rating and $46 price target, stating that while the burden of proof is on the company to successfully execute its Sky (SKYAY) acquisition, the stock's multiple has compressed even though his expectation for Comcast's consolidated growth outlook has not materially changed. In the near-term, Sky will be accretive to that growth rate, Swinburne added. He also said that Comcast "remains first and foremost a US cable business," and he sees broadband as a secular growth driver with a long-term runway.
10/30/18
MSCO
10/30/18
NO CHANGE
Target $95
MSCO
Overweight
WWE shares 'on sale' after pullback, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne noted that WWE (WWE) shares are down by over 30% this month, which he sees as a "rare opportunity" to buy shares of a company that he sees having both highly visible earnings growth and growing intellectual property value. He attributes the rapid selloff primarily to a broader market rotation out of risk assets due to rising interest rates and concerns over achieving long-term growth, but he thinks this "does not make sense" given that WWE's EBITDA opportunity "is not a decade away, but rather a year away," Swinburne tells investors. Two contracts underwritten by Comcast (CMCSA) and Fox (FOXA) drive the bulk of its earnings growth and its financial outlook has no immediate exposure to ratings or cord-cutting, Swinburne added. While he trimmed his price target on WWE shares to $95 from $105 after bumping up his investment expectations for 2019, the analyst maintains an Overweight rating on the stock.
11/13/18
LEHM
11/13/18
INITIATION
Target $44
LEHM
Overweight
Comcast reinstated with an Overweight at Barclays
Barclays analyst Kannan Venkateshwar reinstated coverage of Comcast with an Overweight rating and $44 price target. Negativity around the Sky deal seems overstated, Venkateshwar tells investors in a research note. There is "little doubt" that Comcast overpaid for Sky using any conventional valuation metric, says the analyst. However, he also believes looking at transaction multiples "essentially assumes a static strategic state for the combination, which is unlikely." The analyst thinks Comcast's guidance on synergies is likely to prove conservative.
HAIN Hain Celestial
$22.24

0.16 (0.72%)

10/12/18
PIPR
10/12/18
INITIATION
Target $26
PIPR
Neutral
Hain Celestial assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery assumed coverage of Hain Celestial with a Neutral rating and $26 price target. The analyst prefers better visibility on "sustainable top-line acceleration" before getting more constructive on the shares.
11/09/18
UBSW
11/09/18
NO CHANGE
Target $21
UBSW
Sell
Hain Celestial back half guidance at risk, says UBS
UBS analyst Steven Strycula said the arrival of Hain Celestial's new CEO may eventually change the narrative on the shares, but he believes the next few quarters will be needed to upgrade the talent, reassess investment spending, and review the sensibility of the company's portfolio scope. Strycula remains cautious because of the risk of an earnings reset and reiterated his Sell rating while lowering his price target to $21 from $25 on Hain Celestial shares.
11/09/18
JEFF
11/09/18
NO CHANGE
Target $45
JEFF
Buy
Hain Celestial selloff yesterday a buying opportunity, says Jefferies
Jefferies analyst Akshay Jagdale attributes the selloff yesterday in shares of Hain Celestial to investor concerns of an earnings reset in February following the CEO's strategic review, especially "in light of the significant" second half improvement needed to meet fiscal 2019 guidance. The analyst estimates the market is pricing in 20% lower earnings than what management guiding to, or fiscal 2019 earnings per share in the range of 98c-$1.13 versus guidance of $1.21-$1.38. The analyst, however, views the concerns as overblown. The market seems to be of the view that Hain cannot simultaneously grow its sales and its margins over the long-term, Jagdale tells investors in a research note. He disagrees, however, and views yesterday's selloff as a buying opportunity. The analyst keeps a Buy rating on Hain Celestial with a $45 price target.
11/12/18
LOOP
11/12/18
NO CHANGE
Target $24
LOOP
Hold
Hain Celestial price target lowered to $24 from $29 at Loop Capital
Loop Capital analyst Andrew Wolf lowered his price target on Hain Celestial to $24 after its Q1 results, saying the 36% decline in EBITDA amid "increased trade spending, higher costs, and supply disruptions was bigger than he expected". The analyst notes that the company's new CEO should start to "focus on marketing spending on the best opportunities" within its brand portfolio, but expects this to be a "multi-year process". Wolf adds that although consumption trends have showed signs of improving, he sees Hain Celestial's near-term risk-reward as "balanced", keeping his Hold rating.
DISCA Discovery
$32.15

0.04 (0.12%)

11/05/18
MKMP
11/05/18
NO CHANGE
Target $40
MKMP
Buy
Discovery price target raised to $40 from $35 at MKM Partners
MKM Partners analyst Eric Handler raises his price target on Discovery to $40 and kept his Buy rating ahead of its Q3 results on Thursday. The analyst cites the company's "improved ratings monetization and larger domestic cost synergies as a result of post-upfront layoffs", adding that Discovery also states to benefit from the recently signed Virtual Multichannel Video Programming Distributor deals with Sling and Hulu.
11/12/18
BRRR
11/12/18
NO CHANGE
Target $40
BRRR
Outperform
Discovery acquisition benefits taking shape, says Barrington
Barrington analyst James Goss said in a post-earnings research note that Discovery's stable of unscripted content provides him with confidence the company will ultimately be able to improve subscriber level trends. The benefits of the company's acquisition of Scripps are taking shape, said Goss, who notes the significantly reduced operating costs at both the domestic and international operations in the third quarter. Discovery has reiterated its $600M cost synergy target and is "well ahead" of original expectations in terms of returning to a leverage level below 3.5x, added Goss, who keeps an Outperform rating and $40 price target on Discovery shares.
11/09/18
11/09/18
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. Discovery (DISCA) downgraded to In-Line from Outperform at Imperial Capital with analyst David Miller citing valuation for the downgrade with the shares up over 20% since June 26. 2. Yelp (YELP) downgraded to Market Perform from Outperform at Raymond James, to Neutral from Outperform at Wedbush, to Neutral from Overweight at JPMorgan, and to Hold from Buy at Deutsche Bank. 3. Ctrip (CTRP) downgraded to Underperform from Buy at Daiwa, to Neutral from Buy at Nomura Instinet and UBS. 4. Skyworks (SWKS) downgraded to Neutral from Buy at BofA/Merrill and B. Riley FBR, as well as to Hold from Buy at Summit Insights. 5. Synaptics (SYNA) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh saying his latest latest carrier survey is indicating sell-through of the iPhone XR has been disappointing, with meaningful inventory starting to accumulate in store channels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/09/18
IMPC
11/09/18
DOWNGRADE
Target $37
IMPC
In-Line
Discovery downgraded to In-Line from Outperform at Imperial Capital
Imperial Capital analyst David Miller downgraded Discovery to In-Line with an unchanged price target of $37. The analyst cites valuation for the downgrade with the shares up over 20% since June 26. The analyst sees no reason to raise his price target any further at this time.
SHPG Shire
$180.74

-0.29 (-0.16%)

11/06/18
RHCO
11/06/18
NO CHANGE
Target $190
RHCO
Buy
Shire price target lowered to $190 from $205 at SunTrust
SunTrust analyst John Boris lowered his price target on Shire (SHPG) to $190 to reflect the impact of the USD appreciation against GBP while also lowering his FY18 EPS view to $15.11 from $15.18. The analyst notes that the investment focus for Shire falls on the November 20th vote by E.U. regulators on its merger with Takeda (TKPYY), adding that the company is on track to secure that approval and for shareholders to vote on the deal in January of next year.
09/07/18
BREN
09/07/18
DOWNGRADE
BREN
Hold
Shire downgraded to Hold from Buy at Berenberg
Berenberg analyst Klara Fernandes downgraded Shire (SHPG) to Hold saying the current valuation offers limited potential upside ahead of the pending takeover by Takeda Pharmaceutical (TKPYY).
09/04/18
BERN
09/04/18
DOWNGRADE
BERN
Market Perform
Shire downgraded to Market Perform from Outperform at Bernstein
09/04/18
09/04/18
DOWNGRADE

Market Perform
Shire downgraded to Market Perform as spread narrows at Bernstein
As previously reported, Bernstein analyst Aaron Gal downgraded Shire (SHPG) to Market Perform from Outperform. The analyst notes that he current controversy on Shire is the risk/reward into the closing of the Takeda (TKPYY) acquisition, and over the past few weeks deal spread narrowed, and the fundamentals have gotten a bit tougher in ADHD, HAE and Hemophilia.
AET Aetna
$209.96

0.28 (0.13%)

10/31/18
PIPR
10/31/18
DOWNGRADE
Target $206
PIPR
Neutral
Piper downgrades Aetna to Neutral on confidence of CVS deal closing
Piper Jaffray analyst Sarah James last night downgraded Aetna (AET) to Neutral from Overweight and lowered her price target for the shares to $206 from $212. The analyst is favorable on the fundamentals of Aetna's business and is confident the CVS Health (CVS) takeover will close given the recent Department of Justice approval. She believes Aetna shares will be range bound near the $206 per share takeout price.
11/07/18
MSCO
11/07/18
NO CHANGE
Target $100
MSCO
Overweight
CVS Health price target raised to $100 from $80 at Morgan Stanley
Morgan Stanley analyst Ricky Goldwasser said he believes the combination of CVS (CVS) and Aetna (AET) has the potential to transform the delivery of care as he introduced pro forma estimates for the combined company. He noted the wide range of consensus estimates, with EPS ranges from $6.63-$8.21 for 2019 and $7.45-$9.05 for 2020, while telling investors that his own pro-forma EPS forecasts are for $7.57 in 2019 and $8.30 in 2020. In setting up a valuation framework for the combined company, Goldwasser raised his price target on CVS shares to $100 from $80 and keeps an Overweight rating on the stock.
11/08/18
LEER
11/08/18
NO CHANGE
Target $95
LEER
Outperform
CVS Health price target raised to $95 from $85 at Leerink
Leerink analyst David Larsen raised his price target for CVS Health (CVS) to $95 from $85 following quarterly results. The analyst is encouraged that the deal with Aetna (AET) appears to be ready to close in the near-term, which he believes will be a positive catalyst for the stock. Larsen also likes how the PBM selling season seems to be progressing well, better than he had expected, and also likes how CVS seems to be re-focusing on the Retail "Streamline" efforts, which will hopefully result in net savings in 2019. The analyst reiterates an Outperform rating on CVS shares.
11/13/18
ARGS
11/13/18
NO CHANGE
Target $100
ARGS
Buy
CVS Health price target raised to $100 from $88 at Argus
Argus analyst Chris Graja raised his price target on CVS Health (CVS) to $100 and kept his Buy rating after its Q3 earnings beat, saying he remains "bullish on the management's ability to find innovative and profitable ways to reduce healthcare costs and deliver better care". The analyst also notes that he sees "significant upside for the shares if the company can close acquisition of Aetna (AET) and deliver on its financial targets". To that end, Graja cites the management's confidence expressed on the earnings call that the transaction can be closed prior to Thanksgiving and yield more than the initially estimated $750M in 2-year synergy benefits.
GOLD Randgold
$78.96

1.01 (1.30%)

10/22/18
MACQ
10/22/18
DOWNGRADE
MACQ
Neutral
Randgold downgraded to Neutral from Outperform at Macquarie
10/22/18
MACQ
10/22/18
DOWNGRADE
MACQ
Neutral
Randgold downgraded to Neutral on valuation at Macquarie
As previously reported, Macquarie downgraded Randgold (GOLD) to Neutral from Outperform. Analyst Michael Siperco said shares have outperformed since the merger with Barrick Gold (ABX) was announced and are trading at fair value.
09/26/18
RBCM
09/26/18
UPGRADE
RBCM
Sector Perform
Randgold upgraded to Sector Perform at RBC Capital on Barrick Gold merger offer
As reported earlier, RBC Capital analyst James Bell upgraded Randgold (GOLD) to Sector Perform from Underperform and raised his price target to GBp 5,000 from GBp 4,500 after an offer from Barrick Gold (ABX) at a valuation in line with the proposed share ratio of the deal. The analyst contends that the purchase would be positive for the company and believes that no further premium is needed, adding he has heard little in terms of a pushback from Randgold even though 2/3rd of the shareholder vote is needed to approve the transaction.
09/26/18
RBCM
09/26/18
UPGRADE
RBCM
Sector Perform
Randgold upgraded to Sector Perform from Underperform at RBC Capital
NXPI NXP Semiconductors
$82.41

0.63 (0.77%)

10/23/18
10/23/18
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. Viacom (VIA, VIAB) upgraded to In-Line from Underperform at Imperial Capital with analyst David Miller saying there is a "palpable rotation at work in the financial markets away from growth and into value within the Media sector." 2. Synopsys (SNPS) and Cadence Design (CDNS) were upgraded to Neutral from Underweight at JPMorgan. 3. Polaris Industries (PII) upgraded to Buy from Neutral at B. Riley FBR with analyst Eric Wold saying he views yesterday's Q3 results as "solid" and believes the recent stock pullback discounts the risk of tariffs. 4. AMD (AMD) upgraded to Equal Weight from Underweight at Barclays while NXP Semiconductors (NXPI) was upgraded to Overweight from Equal Weight. 5. Chipotle (CMG) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson saying the company is in an "enviable position" given its nearly all-U.S. exposure and lack of interest rate risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/26/18
NEED
10/26/18
NO CHANGE
Target $100
NEED
Strong Buy
NXP Semiconductors price target lowered to $100 from $120 at Needham
Needham analyst Rajvindra Gill lowered his price target on NXP Semiconductors to $100 to reflect the "broad-based weakness" in the semiconductor sector, particularly in China. The analyst also keeps his Strong Buy rating on the shares, stating that the stock has likely discounted the macro weakness as its valuation has contracted to less than 12-times his forward earnings estimate. Gill maintains that NXP Semiconductors is "aligned to secular drivers in ADAS, IoT and machine vision", remaining one of the largest microcontroller suppliers in the world.
11/01/18
NEED
11/01/18
NO CHANGE
Target $110
NEED
Strong Buy
Needham 'pounding the table' on NXP Semiconductors after earnings
Needham analyst Rajvindra Gill said NXP Semiconductors posted a "solid quarter and beat" given the uncertain macroeconomic climate and he is "pounding the table hard" to reiterate his Strong Buy rating on the stock given the growth drivers he sees in automotive, IoT and 5G infrastructure. While NXP saw a modest slowdown in auto and a slight sequential decline in order rates in China, Gill noted that NXP did not experience a material weakness in what he would call "leading indicators," such as order cancellations or excess inventory in the supply chain. The analyst raised his price target on NXP shares to $110 from $100 following the company's Q3 report.
11/02/18
RHCO
11/02/18
NO CHANGE
Target $99
RHCO
Buy
NXP Semiconductors price target lowered to $99 from $112 at SunTrust
SunTrust analyst William Stein lowered his price target on NXP Semiconductors to $99 after its Q3 results beat expectations, saying that while the company's revenue growth remains at risk, its cost savings and capital allocation should preserve its earnings. The analyst also raises his FY19 EPS view to $9.06 from $8.58 and keeps his Buy rating on NXP Semiconductors, with the list of positives including rising buybacks, strong margins, capital returns, and cheap valuation.
TMUS T-Mobile
$68.03

-0.42 (-0.61%)

11/01/18
GUGG
11/01/18
INITIATION
Target $8.5
GUGG
Buy
T-Mobile initiated with a Buy at Guggenheim
Guggenheim initiated T-Mobile with a Buy and $8.50 price target.
10/29/18
WELS
10/29/18
NO CHANGE
Target $82
WELS
Outperform
T-Mobile price target raised to $82 from $77 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche raised her price target for T-Mobile (TMUS) to $82 from $77 as she is incrementally more positive on the shares into Q3. The analyst expects T-Mobile's subscriber momentum to continue in Q3, as it will likely lead the industry again in postpaid net adds and top-line growth. In addition, his recent DC checks make her more confident that the Sprint (S)-T-Mobile merger will be approved. As a result, Fritzsche is raising her probability of deal approval to 70% from 60% prior. The analyst reiterates an Outperform rating on T-Mobile's shares.
10/19/18
WELS
10/19/18
NO CHANGE
WELS
Outperform
Wells Fargo raises odds of T-Mobile-Sprint deal closing to 65%-70%
After meeting with some of her regulatory contacts in DC, Wells Fargo analyst Jennifer Fritzsche said her checks indicate that the regulatory review for T-Mobile's (TMUS) planned merger with Sprint (S) "remains fairly drama free thus far." The FCC review appears to be continuing to proceed as expected, while most contacts she spoke with indicated there does not seem to be any "chatter" coming out of DOJ, Fritzsche tells investors. Following the talks, she is increasing her view of the odds of the deal closing to 65%-70%. Fritzsche has an Outperform rating on T-Mobile and Market Perform rating on Sprint.
11/01/18
11/01/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Neutral at Roth Capital. 2. T-Mobile (TMUS) initiated with a Buy at Guggenheim. 3. Kosmos (KOS) initiated with a Buy at Berenberg. 4. Sellas Life Sciences (SLS) initiated with an Outperform at Oppenheimer. 5. OFS Credit (OCCI) initiated with a Buy at Ladenburg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
AKRX Akorn
$6.74

-0.07 (-1.03%)

10/04/18
CHLM
10/04/18
UPGRADE
Target $11
CHLM
Buy
Akorn upgraded to Buy from Hold at Craig-Hallum
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.
10/17/18
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.
10/17/18
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.
MITL Mitel
$10.98

(0.00%)

04/11/18
NATB
04/11/18
DOWNGRADE
NATB
Sector Perform
Mitel downgraded to Sector Perform from Outperform at National Bank
National Bank downgraded Mitel to Sector Perform citing valuation.
05/15/18
CHLM
05/15/18
DOWNGRADE
Target $11.15
CHLM
Hold
Mitel downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst George Sutton downgraded Mitel to Hold from Buy saying that given the structure of the deal in place for Searchlight, which includes debt financing of $1.38B and equity sponsor commitments of $700M, there is the potential, but in his view, limited likelihood, that this single remaining party concludes in a higher bid. The analyst also lowered his price target on the shares to $11.15 from $14.
04/11/18
04/11/18
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. Avis Budget (CAR) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing valuation. 2. Affiliated Managers (AMG) downgraded to Market Perform at Keefe Bruyette. 3. Valero (VLO) and PBF Energy (PBF) were downgraded to Sector Perform from Outperform at Scotia Howard Weil. 4. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Melissa Franchi saying she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud. 5. Mitel (MITL) downgraded to Sector Perform from Outperform at National Bank with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/23/18
CHLM
02/23/18
NO CHANGE
Target $14
CHLM
Buy
Mitel pullback on 'complicated' guidance a buying opportunity, says Craig-Hallum
Craig-Hallum analyst George Sutton said Mitel reported "stellar" Q4 results, but its Q1 guidance was "complicated" by the seasonality of its businesses being more pronounced than he had previously recognized. He sees the pullback as an attractive buying opportunity, contending that much of the confusion around seasonal changes should be resolved at the analyst day next week. Sutton keeps a Buy rating and $14 price target on Mitel shares.
MNK Mallinckrodt
$31.04

-0.045 (-0.14%)

11/06/18
WELS
11/06/18
NO CHANGE
Target $27
WELS
Market Perform
Mallinckrodt growth appears challenged in 2019, says Wells Fargo
Wells Fargo analyst David Maris noted that Mallinckrodt reported Q3 earnings that beat his and consensus estimates due to higher revenues and lower operating spending, but he is still modeling a 5% decline next year for the company's largest product, Acthar. Noting that view of Acthar, as well as considering share loss for Inomax and the company's leverage, Maris said he sees the shares as fairly valued and keeps a Market Perform rating on Mallinckrodt. Maris raised his price target on Mallinckrodt shares to $27 from $24 as he raised his 2018 EPS estimate to $7.13 from $6.82.
10/05/18
JEFF
10/05/18
NO CHANGE
Target $35
JEFF
Buy
Mallinckrodt 17% selloff yesterday 'well overdone,' says Jefferies
Jefferies analyst Anthony Petrone views the 17% selloff yesterday in shares of Mallinckrodt (MNK) as "well overdone." The pullback on Praxair's (PX) abbreviated new drug application clearance of Noxivent effectively prices in a $130M revenue shortfall on Mallinckrodt's INOmax in the near term, Petrone tells investors in a research note. Conversely, the analyst expects a more gradual erosion given the ongoing patent appeal process, potential label extension on INOmax, and the need for infrastructure investment on the part of Praxair. He keeps a Buy rating on Mallinckrodt with a $35 price target.
10/08/18
10/08/18
NO CHANGE
Target $24

Market Perform
Wells cuts Mallinckrodt target to $24 after confirming Praxair generic approval
Wells Fargo analyst David Maris says he confirmed this morning with Praxair (PX) that the device associated with generic Inomax has been approved. Praxair would not provide any additional details around the launch timing or pricing plans, Maris tells investors in a research note. The analyst lowered his price target for Mallinckrodt (MNK) shares to $24 from $30 after reducing his estimates to account for the generic taking approximately 20% share over the next several years. He models Mallinckrodt's Inomax going from a 5% grower to a slight decline. Maris admits, however, that there are "strong reasons" to think Inomax has a more defensible position than losing 20% share, such as a loyal installed base and a high service level. Nonetheless, he believes uncertainty around the generic device approval warrant a reduced outlook. The analyst keeps a Market Perform rating on Mallinckrodt. The stock in morning trading is down 5c to $25.83.
11/13/18
MZHO
11/13/18
NO CHANGE
Target $29
MZHO
Neutral
Mallinckrodt price target raised to $29 from $27 at Mizuho
Mizuho analyst Irina Koffler raised her price target for Mallinckrodt to $29 citing improved durability for Acthar and INOmax. The analyst says the tone at Mallinckrodt's marketing event last week on Acthar was "incrementally upbeat." However, she reiterates a Neutral rating on the shares.
AGN Allergan
$160.11

-2.525 (-1.55%)

11/12/18
LEER
11/12/18
INITIATION
Target $220
LEER
Outperform
Allergan initiated with an Outperform at Leerink
Leerink Partners analyst Marc Goodman started Allergan with an Outperform rating and $220 price target.
11/14/18
11/14/18
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. Avid (AVID) initiated with a Hold at Jefferies. 2. ProQR Therapeutics (PRQR) initiated with an Overweight at Cantor Fitzgerald. 3. GW Pharmaceuticals (GWPH) initiated with an Outperform at Leerink. 4. Equitrans Midstream (ETRN) initiated with an Overweight at US Capital Advisors. 5. Zymogenetics (ZGEN) and Allergan (AGN) were initiated 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.
11/01/18
MZHO
11/01/18
NO CHANGE
Target $213
MZHO
Buy
Allergan selloff on 'optimistic' 2019 estimates overdone, says Mizuho
Mizuho analyst Irina Koffler lowered her price target for Allergan shares to $213 from $220 but remains a buyer of the stock with a Buy rating. The analyst attributes the weakness in shares of Allergan to "overly optimistic" 2019 estimates. However, the selloff is overdone, Koffler tells investors in a research note.
11/13/18
LEER
11/13/18
INITIATION
Target $220
LEER
Outperform
Allergan initiated with an Outperform at Leerink
Leerink analyst Marc Goodman started Allergan with an Outperform and $220 price target as he initiates Neuroscience space with a Positive View. The analyst believes the Neuroscience sector is experiencing a "renaissance" as multiple new agents and mechanisms are coming up the pipeline across major therapeutic areas, the number of clinical studies is growing nicely, and the FDA is friendly to innovation in this space, companies are getting smarter about speed-to-market strategies and selecting niche sub-populations to focus on for initial product approvals, payer pushback on usage is much lower than in other categories, and physicians are enthusiastic about new agents. Regarding Allergan, Goodman notes that management has finally rebased numbers and growth expectations to credible levels and the balance sheet is becoming less of a focus. Further, he believes the underlying growth of the base business is underappreciated.
BHC Bausch Health
$26.89

0.24 (0.90%)

11/05/18
11/05/18
UPGRADE
Target $32

Overweight
Bausch Health upgraded to Overweight on improving growth at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger upgraded Bausch Health to Overweight from Equal Weight, as he expects improved growth in 2020, a mix shift toward new products and gradual debt paydown to drive the stock's multiple higher. He continues to project Q3 EBITDA of $850M, 5% above consensus, and sees the upcoming quarterly report as a potential catalyst to drive the stock up, Risinger added. He set a $32 price target on Bausch Health shares.
11/05/18
MSCO
11/05/18
UPGRADE
MSCO
Overweight
Bausch Health upgraded to Overweight from Equal Weight at Morgan Stanley
10/15/18
MZHO
10/15/18
NO CHANGE
Target $35
MZHO
Buy
Bausch Health Q3 consensus estimates have upside, says Mizuho
Mizuho analyst Irina Koffler sees potential upside to Bausch Health's Q3 consensus estimates and she reiterates a Buy rating on the shares with a $35 price target. The analyst expects "strong" Xifaxan growth to persist into 2019 and believes that the Alcon spin valuation may provide a positive read-through to Bausch's B+L segment valuation.
11/06/18
WELS
11/06/18
NO CHANGE
WELS
Underperform
Bausch Health continues to underspend on R&D to fuel upside, says Wells Fargo
Wells Fargo analyst David Maris said Bausch Health has been underspending on R&D to help fuel better than expected results and Q3 "was not different" in that respect. Of note, Bausch also announced it is starting an ongoing efficiency initiative, which would proactively reduce channel inventory in Q4. Maris continues to see Bausch Health shares carrying too much risk to recommend and keeps an Underperform rating on the stock.
GLD SPDR Gold Shares
$113.82

0.14 (0.12%)

MYL Mylan
$34.60

-1.16 (-3.24%)

11/06/18
WELS
11/06/18
UPGRADE
WELS
Outperform
Mylan upgraded to Outperform from Market Perform at Wells Fargo
11/06/18
COWN
11/06/18
NO CHANGE
Target $31
COWN
Market Perform
Mylan business model looks broken, says Cowen
Cowen analyst Ken Cacciatore said Mylan's Q3 results confirm his thesis that the current business model looks broken. He said at some point a new product cycle needs to materialize, but in Mylan's case it hasn't happened in a material enough way. Cacciatore recommends avoiding the shares and he reiterated his Market Perform rating and $31 price target on Mylan.
11/06/18
11/06/18
UPGRADE
Target $42

Buy
Mylan upgraded to Buy after 'encouraging' Q3 report at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst Jason Gerberry upgraded Mylan to Buy from Neutral, stating that its Q3 report provided encouraging updates regarding several of its business segments. He believes concerns around its broader portfolio look overdone as industry-level generic pricing is showing signs of stabilizing while the company also provided encouraging new product updates. Gerberry added that he views the 20% stock pullback as an attractive opportunity, but trimmed his price target on Mylan shares to $42 from $44 to reflect rebasing of EpiPen and generic Copaxone.
11/06/18
WELS
11/06/18
UPGRADE
Target $40
WELS
Outperform
Wells upgrades Mylan to Outperform, sees more upside after today's rally
Wells Fargo analyst David Maris upgraded Mylan (MYL) to Outperform from Market Perform with an unchanged price target of $40. The stock in afternoon trading is up 18%, or $5.76, to $37.13. Mylan shares have underperformed the S&P 500 Index for the year-to-date, one year, two year, and five year periods and the shares trade at a discount to peer Teva (TEVA), Maris tells investors in a research note titled "Concerns Abound, but Valuation Attractive." The analyst, however, believes Mylan is positioned for near-term outperformance after the company maintained its 2018 earnings guidance. Maris previously saw risk to second half of 2018 estimates, but with today's Q3 results, he now believes the risk to the downside to Q4 estimates is lower than previously thought. Further, Mylan's statement that Q4 guidance can be achieved with or without new approvals "provides some upside to sentiment" if generic Advair or other approvals materialize, says the analyst. Maris thinks that even with today's rally, Mylan shares still have more than 10% additional upside potential to reach fair value.

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FII

Federated Investors

$24.65

-0.02 (-0.08%)

21:40
12/16/18
12/16
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21:40
Initiation
Federated Investors initiated at Gabelli »

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GIII

G-III Apparel

$28.68

-0.29 (-1.00%)

21:37
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21:37
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21:37
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G-III Apparel rating change at Stifel »

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CLXT

Calyxt

$9.88

0.4 (4.22%)

21:34
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Calyxt rating change at Goldman Sachs »

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CLXT

Calyxt

$9.88

0.4 (4.22%)

20:23
12/16/18
12/16
20:23
12/16/18
20:23
Upgrade
Calyxt rating change at Goldman Sachs »

Calyxt upgraded to Buy…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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CEQP

Crestwood Equity

$32.29

0.47 (1.48%)

, EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

20:08
12/16/18
12/16
20:08
12/16/18
20:08
Recommendations
Crestwood Equity, EQT Midstream Partners analyst commentary at Goldman Sachs »

Goldman upgrades…

CEQP

Crestwood Equity

$32.29

0.47 (1.48%)

EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

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

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ITW

Illinois Tool Works

$131.02

-2.26 (-1.70%)

19:57
12/16/18
12/16
19:57
12/16/18
19:57
Downgrade
Illinois Tool Works rating change at Deutsche Bank »

Illinois Tool Works…

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

Stanley Black & Decker

$118.36

0.46 (0.39%)

19:57
12/16/18
12/16
19:57
12/16/18
19:57
Upgrade
Stanley Black & Decker rating change at Deutsche Bank »

Stanley Black &…

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

Incyte

$66.24

-1.04 (-1.55%)

, AET

Aetna

$0.00

(0.00%)

19:31
12/16/18
12/16
19:31
12/16/18
19:31
Hot Stocks
Fly Intel: Top five weekend stock stories »

Catch up on the…

INCY

Incyte

$66.24

-1.04 (-1.55%)

AET

Aetna

$0.00

(0.00%)

ANTM

Anthem

$275.59

-4.93 (-1.76%)

CNC

Centene

$127.55

-5.3 (-3.99%)

CI

Cigna

$205.34

-6.63 (-3.13%)

HNT

Health Net

$0.00

(0.00%)

HUM

Humana

$300.41

-12.09 (-3.87%)

MOH

Molina Healthcare

$131.72

-11.19 (-7.83%)

UNH

UnitedHealth

$265.06

-7.2 (-2.64%)

WCG

WellCare

$236.90

-7.44 (-3.04%)

SNE

Sony

$51.32

-0.88 (-1.69%)

GOOG

Alphabet

$1,041.68

-21.44 (-2.02%)

GOOGL

Alphabet Class A

$1,050.62

-23.36 (-2.18%)

AAPL

Apple

$165.48

-5.45 (-3.19%)

BAC

Bank of America

$24.49

0.1 (0.41%)

BLK

BlackRock

$382.25

-5.29 (-1.37%)

CAT

Caterpillar

$126.78

0.79 (0.63%)

CVX

Chevron

$113.84

-2.15 (-1.85%)

DDAIF

Daimler AG

$0.00

(0.00%)

DAL

Delta Air Lines

$53.50

-0.03 (-0.06%)

ET

Energy Transfer LP

$14.08

-0.5 (-3.43%)

TOL

Toll Brothers

$32.23

-0.4 (-1.23%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 07

    Jan

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    Jan

  • 29

    Jan

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    Feb

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    Feb

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    Feb

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    Feb

  • 03

    Mar

EQT

EQT Corporation

$19.40

-0.78 (-3.87%)

18:54
12/16/18
12/16
18:54
12/16/18
18:54
Periodicals
EQT's board to seek meeting with Rice brothers, Reuters reports »

EQT Corporation's…

03/08/13
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03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

, EQGP

EQGP Holdings

$19.94

0.02 (0.10%)

18:31
12/16/18
12/16
18:31
12/16/18
18:31
Downgrade
EQT Midstream Partners, EQGP Holdings rating change at Goldman Sachs »

EQT Midstream downgraded…

EQM

EQT Midstream Partners

$46.86

-0.1 (-0.21%)

EQGP

EQGP Holdings

$19.94

0.02 (0.10%)

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

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CEQP

Crestwood Equity

$32.29

0.47 (1.48%)

18:28
12/16/18
12/16
18:28
12/16/18
18:28
Upgrade
Crestwood Equity rating change at Goldman Sachs »

Crestwood Equity upgraded…

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

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INCY

Incyte

$66.24

-1.04 (-1.55%)

17:52
12/16/18
12/16
17:52
12/16/18
17:52
Hot Stocks
Innovent, Incyte announce agreement for three clinical-stage candidates in China »

Incyte and Innovent…

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

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  • 24

    Feb

NSANY

Nissan

$0.00

(0.00%)

, RNLSY

Renault

$0.00

(0.00%)

17:14
12/16/18
12/16
17:14
12/16/18
17:14
Periodicals
Renault seeking Nissan shareholder meeting amid Ghosn crisis, Reuters says »

Renault (RNLSY) requested…

NSANY

Nissan

$0.00

(0.00%)

RNLSY

Renault

$0.00

(0.00%)

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

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  • 07

    Jan

T

AT&T

$30.24

0.33 (1.10%)

, CMCSA

Comcast

$36.32

-0.43 (-1.17%)

16:48
12/16/18
12/16
16:48
12/16/18
16:48
Hot Stocks
Box Office Battle: 'Spider-Verse' wins weekend with $35M »

Sony's (SNE)…

T

AT&T

$30.24

0.33 (1.10%)

CMCSA

Comcast

$36.32

-0.43 (-1.17%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$51.32

-0.88 (-1.69%)

FOX

21st Century Fox

$48.79

-0.09 (-0.18%)

FOXA

21st Century Fox

$49.06

-0.07 (-0.14%)

LGF.A

Lionsgate

$15.59

-0.16 (-1.02%)

DIS

Disney

$112.21

-1.17 (-1.03%)

VIAB

Viacom

$28.56

-0.31 (-1.07%)

VIA

Viacom

$31.23

-0.4 (-1.26%)

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

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  • 23

    Jan

  • 23

    Jan

  • 30

    Jan

  • 20

    Mar

ELGX

Endologix

$0.71

0.0232 (3.39%)

16:17
12/16/18
12/16
16:17
12/16/18
16:17
Conference/Events
Endologix to host special shareholder meeting »

Special Shareholder…

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

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PRPO

Precipio

$0.19

-0.0111 (-5.63%)

16:11
12/16/18
12/16
16:11
12/16/18
16:11
Conference/Events
Precipio to host special shareholder meeting »

Special Shareholder…

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

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MSB

Mesabi Trust

$25.15

-1.1 (-4.19%)

16:08
12/16/18
12/16
16:08
12/16/18
16:08
Conference/Events
Mesabi Trust to host special shareholder meeting »

Special Shareholder…

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

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MLNT

Melinta Therapeutics

$1.19

-0.1 (-7.75%)

16:02
12/16/18
12/16
16:02
12/16/18
16:02
Conference/Events
Melinta Therapeutics to host special shareholder meeting »

Special Shareholder…

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

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XOM

Exxon Mobil

$75.63

-1.32 (-1.72%)

15:55
12/16/18
12/16
15:55
12/16/18
15:55
Periodicals
Exxon Mobil shareholders call for greenhouse gas reduction targets, Reuters says »

A number of institutional…

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

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ANTM

Anthem

$275.59

-4.93 (-1.76%)

, CNC

Centene

$127.55

-5.3 (-3.99%)

13:16
12/16/18
12/16
13:16
12/16/18
13:16
Periodicals
Health stocks preparing for market jolt after Obamacare ruling, Bloomberg says »

U.S. health-care stocks…

ANTM

Anthem

$275.59

-4.93 (-1.76%)

CNC

Centene

$127.55

-5.3 (-3.99%)

CI

Cigna

$205.34

-6.63 (-3.13%)

UNH

UnitedHealth

$265.06

-7.2 (-2.64%)

HUM

Humana

$300.41

-12.09 (-3.87%)

WCG

WellCare

$236.90

-7.44 (-3.04%)

MOH

Molina Healthcare

$131.72

-11.19 (-7.83%)

HNT

Health Net

$0.00

(0.00%)

AET

Aetna

$0.00

(0.00%)

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

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  • 10

    Jan

  • 05

    Feb

  • 19

    Feb

JELD

Jeld-Wen

$14.27

-0.46 (-3.12%)

13:02
12/16/18
12/16
13:02
12/16/18
13:02
Hot Stocks
Jeld-Wen announces final ruling in Steves & Sons litigation, to appeal decision »

Jeld-Wen announced that…

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

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ATRA

Atara Biotherapeutics

$41.78

-0.74 (-1.74%)

12:55
12/16/18
12/16
12:55
12/16/18
12:55
Hot Stocks
Atara Biotherapeutics presents positive efficacy, safety results for EBV + LMS »

Atara Biotherapeutics…

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

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BGNE

BeiGene

$133.95

2.595 (1.98%)

12:41
12/16/18
12/16
12:41
12/16/18
12:41
Hot Stocks
BeiGene announces updated Phase 1A/1B data on tislelizumab »

BeiGene announced that…

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

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