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JPM

JPMorgan

$107.20

-2.39 (-2.18%)

, ORCL

Oracle

$48.81

-0.71 (-1.43%)

16:10
11/14/18
11/14
16:10
11/14/18
16:10

Berkshire takes stakes in JPMorgan, Oracle, PNC, Travelers during Q3

JPM

JPMorgan

$107.20

-2.39 (-2.18%)

ORCL

Oracle

$48.81

-0.71 (-1.43%)

PNC

PNC Financial

$134.02

-1.69 (-1.25%)

TRV

Travelers

$122.98

-3.85 (-3.04%)

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    Dec

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    Feb

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    Jul

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    Oct

JPM JPMorgan
$107.20

-2.39 (-2.18%)

09/25/18
WOLF
09/25/18
INITIATION
Target $140
WOLF
Outperform
JPMorgan initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated JPMorgan with an Outperform and $140 price target.
10/03/18
BERN
10/03/18
NO CHANGE
BERN
Amazon to be accelerant of disruption coming for healthcare, says Bernstein
Bernstein analyst Lance Wilkes believes disruption is coming for healthcare and that Amazon (AMZN) will be an accelerant of this disruption. Further, the analyst sees a parallel with the fast changes in health insurance which took place in the 90's, when health insurance changed from 90% indemnity to 80% managed care within ten years. Wilkes thinks Amazon is developing a series of business strategies for entering healthcare market segments, namely directly entering online pharmacy, creating a disruptor in the employer healthcare space through its venture with Berkshire (BRK.A) and JPMorgan (JPM), and entering digital consumer healthcare spaces including using Alexa for consumer engagement and behavior modification.
10/15/18
BMOC
10/15/18
NO CHANGE
Target $124
BMOC
Market Perform
JPMorgan price target raised to $124 from $118 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on JPMorgan to $124 after its Q3 earnings beat driven by lower than expected loan loss provision. The analyst notes that financials are "cheap again" in spite of the rising interest rates which are positive for net interest margins, better employment which is positive for credit, and regulatory relief which is positive for their capital position. Fotherinham also keeps his Market Perform rating on JPMorgan, saying its two-year forward earnings multiple is "only slightly" below its long-term historical average.
10/16/18
JANY
10/16/18
NO CHANGE
JANY
Buy
Janney Montgomery Scott says On Deck's new unit hints at new bank partnerships
After On Deck Capital (ONDK) announced earlier that it has created a new wholly owned subsidiary, ODX, that will provide technology and other services to banks looking to lend online to small businesses, Janney Montgomery Scott analyst John Rowan said he sees this as the logical step before the company announces one or more new bank partnerships. While he thinks the company's lone existing bank partnership, with JPMorgan (JPM), is not a profit center, Rowan believes that the economics could improve as each new bank partner comes on-board and he thinks ODX could eventually become a profit center for On Deck. He maintains a Buy rating on the stock.
ORCL Oracle
$48.81

-0.71 (-1.43%)

10/23/18
NEED
10/23/18
INITIATION
NEED
Hold
Oracle initiated with a Hold at Needham
As reported earlier, Needham analyst Jack Andrews initiated Oracle with a Hold rating as part of his broader infrastructure software research note. The analyst notes that he is positive on the company's "potential and resources to become a significant force in next generation cloud computing environments," but prefers to await a "more consistent record of quarterly financial results meeting guidance" before taking a more constructive stance.
10/26/18
NOMU
10/26/18
NO CHANGE
Target $53
NOMU
Buy
Oracle price target lowered to $53 from $58 at Nomura Instinet
Nomura Instinet analyst Christopher Eberle lowered his price target for Oracle to $53 and keeps a Buy rating on the shares following the company's Open World convention and analyst day. The analyst says that while he appreciates the use of case performance scenarios highlighted by management throughout the week, the investment community has grown frustrated with the "sizable disconnect between management's sanguine commentary and another year of little to zero top-line growth."
10/29/18
STFL
10/29/18
DOWNGRADE
Target $190
STFL
Hold
Stifel downgrades Red Hat to Hold, but sees potential for competing bid
Stifel analyst Brad Reback downgraded Red Hat (RHT) to Hold from Buy after IBM (IBM) announced an agreement to acquire the company for $190 per share. Stating that he is not aware of any M&A talks, Reback added that he would not be surprised if a hyperscale cloud vendor such as Google (GOOGL), Amazon (AMZN), Microsoft (MSFT) or Oracle (ORCL) to make a competing bid given Red Hat's strategic position within on-premise datacenters. Reback raised his price target on Red Hat shares from $160 to the announced deal price of $190.
11/06/18
JMPS
11/06/18
INITIATION
Target $29
JMPS
Outperform
Anaplan initiated with an Outperform at JMP Securities
JMP Securities analyst Patrick Walravens initiated Anaplan (PLAN) with an Outperform rating and $29 price target, stating that he believes it is well-positioned to increase its share of the worldwide performance management and analytic applications software market from about 1% today to about 3% in 2022. He sees the company being able to take share from Excel-based solutions, homegrown products, and incumbents such as Oracle (ORCL), IBM (IBM), and SAP (SAP), Walravens added.
PNC PNC Financial
$134.02

-1.69 (-1.25%)

10/15/18
BMOC
10/15/18
NO CHANGE
Target $139
BMOC
Outperform
PNC Financial price target lowered to $139 from $156 at BMO Capital
BMO Capital analyst Lana Chan lowered her price target on PNC Financial to $139 to reflect the 6% decline in its stock price from the bank's "low-quality" Q3 EPS beat, but also sees it as an "over-reaction" given its solid pre-provision net revenue growth. The analyst further attributes the price target change to a "more conservative multiple" from the bank's late-cycle valuation but also keeps her Outperform rating. Chan notes that the new implied valuation puts PNC in line with its peers even though its profile of positive operating leverage, greater capital return, and insulation from any potential downturn deserves a premium.
10/15/18
10/15/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Outperform from In Line at Evercore ISI with analyst Matt McGinley citing lowered expectations on comps, a pullback in valuation relative to last year, and the more defensive nature of the business model. 2. PNC Financial (PNC) upgraded to Outperform from Market Perform at Bernstein and to Buy from Hold at Deutsche Bank. 3. Ralph Lauren (RL) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying the recent pullback in the shares creates a "multi-year opportunity." 4. Activision Blizzard (ATVI) upgraded to Overweight from Equal Weight at Barclays with analyst Ryan Gee saying his positive view is based on upside potential for Call of Duty digital revenue in 2019 from battle royale, as well as optimism for incremental product announcements at BlizzCon "fueling positive revisions" to consensus 2019 earnings estimates. 5. Lululemon (LULU) upgraded to Outperform from Neutral at Wedbush with analyst Jen Redding saying she has long viewed lululemon as an "impressive" growth story, with a best-in-class retail leadership team at the helm, and continues to see the company's cutting-edge data analytics and technology platforms on the forefront of wins in the years to come. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/31/18
MSCO
10/31/18
NO CHANGE
MSCO
Morgan Stanley sees BB&T, AmEx as possible winners if Fed changes bank rules
Noting that the Federal Reserve will release a memo detailing proposed changes to bank capital rules to the public around 10 am today and is scheduled to vote on this proposal in a meeting starting at 10:30 am, Morgan Stanley analyst Betsy Graseck said BB&T (BBT) could be the biggest beneficiary with a 5% EPS increase if it is ruled that banks with more than $250B in assets that are not Global Systemically Important Banks should have more tailored regulation. Other potential beneficiaries of possible rule changes include American Express (AXP), Capital One (COF), Northern Trust (NTRS), PNC Financial (PNC) and U.S. Bancorp (USB), Graseck added.
11/06/18
PIPR
11/06/18
NO CHANGE
Target $163
PIPR
Overweight
PNC Financial well positioned for regulatory relief, says Piper Jaffray
Piper Jaffray analyst Kevin Barker maintains an Overweight rating on PNC Financial and raised his price target for the shares to $163 from $159 to take into account the capital relief he expects from the Federal Reserve's recently proposed rules. The analyst is also more bullish on PNC's revenue outlook, saying the company is seeing a significant increase in treasury management fees due to a decline in commercial non-interest bearing deposits. The market's sole focus on the shift to interest-bearing deposits from non-interest bearing deposits fails to take into account the offsetting revenue, Barker tells investors in a research note. He calls PNC one of his favorite super-regional banks at this point in the cycle.
TRV Travelers
$122.98

-3.85 (-3.04%)

07/24/18
MKMP
07/24/18
NO CHANGE
Target $125
MKMP
Neutral
Travelers price target lowered to $125 from $140 at MKM Partners
MKM Partners analyst Harry Fong lowered his price target on Travelers to $125 after its Q2 earnings miss, saying the quarter was impacted by "several large commercial losses, chiefly from fire losses and an assessment from the Texas windstorm pool related to Hurricane Harvey". The analyst notes that the sell off in the stock was somewhat surprising, since the earnings miss was due to "normal insurance noise" that is typical for the industry. Fong also keeps his Neutral rating on Travelers which he attributes to 1.4-times trailing book value multiple, rather than its recent earnings proposal.
08/07/18
FBCO
08/07/18
INITIATION
Target $141
FBCO
Neutral
Travelers initiated with a Neutral at Credit Suisse
Credit Suisse analyst Michael Zaremski started Travelers (TRV) with a Neutral rating and $141 price target. For shorter-term oriented investors, the analyst recommends Travelers over peer Chubb (CB) due to having more conviction over its recent string of higher than expected non-catastrophe weather-related losses subsiding, a greater gearing to workers' comp. leading to a steady stream of reserve releases given an extremely healthy unemployment backdrop, and conviction that near-term auto margins will continue to improve given industry pricing dynamics. In the longer term, he struggles to make the case that Travelers' wheels business can produce better and less volatile results.
10/19/18
SBSH
10/19/18
DOWNGRADE
Target $134
SBSH
Neutral
Travelers downgraded to Neutral from Buy at Citi
Citi analyst James Naklicki downgraded Travelers to Neutral and lowered his price target for the shares to $134 from $149 following yesterday's Q3 results.
10/19/18
SBSH
10/19/18
DOWNGRADE
SBSH
Neutral
Citi downgrades Travelers to Neutral with 'several' risks emerging
Citi analyst James Naklicki downgraded Travelers to Neutral from Buy and lowered his price target for the shares to $134 from $149. There are several emerging risks for Travelers that don't appear priced into the stock, Naklicki tells investors in a research note. The company's strategy has shifted from one of accelerating commercial pricing to one of moderating pricing this quarter, the analyst says. And with its margins down year-to-date, he thinks Travelers "should continue to take rate," which he finds disappointing. Further, Naklicki sees "new risks are on the horizon" from rising inflation expectations and rising loss trends in workers comp.

TODAY'S FREE FLY STORIES

WYND

Wyndham Destinations

$42.79

0.21 (0.49%)

14:11
08/21/19
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14:11
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Wyndham Destinations to add 140 jobs in Orlando expansion »

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SPY

SPDR S&P 500 ETF Trust

$292.47

2.44 (0.84%)

, SPX

S&P 500

$0.00

(0.00%)

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General news
Fed minutes show 'couple of participants' would have preferred 50 bps rate cut »

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VLKAY

Symbol is now VWAGY

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, POAHY

Porsche

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Porsche acquires minority stake in Israeli startup TriEye »

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SPY

SPDR S&P 500 ETF Trust

$292.42

2.39 (0.82%)

, SPX

S&P 500

$0.00

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14:02
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08/21
14:02
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14:02
General news
Fed minutes show July rate cut viewed by 'most' on FOMC as 'recalibration' »

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SPDR S&P 500 ETF Trust

$292.42

2.39 (0.82%)

SPX

S&P 500

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PFE

Pfizer

$35.06

0.44 (1.27%)

14:01
08/21/19
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14:01
Hot Stocks
Pfizer says FDA grants XTANDI application priority review »

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TGT

Target

$102.13

16.555 (19.35%)

13:52
08/21/19
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Target analyst commentary  »

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JMIA

Jumia Technologies

$12.43

-2.26 (-15.38%)

13:47
08/21/19
08/21
13:47
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13:47
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Jumia Technologies analyst commentary  »

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13:45
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General news
Breaking General news story  »

FOMC Minutes to be…

AFL

Aflac

$49.66

-2.2 (-4.24%)

13:38
08/21/19
08/21
13:38
08/21/19
13:38
Periodicals
Aflac reiterates review being done of Post channel sales, Bloomberg says »

Aflac reiterated that it…

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AMZN

Amazon.com

$1,823.96

21.88 (1.21%)

, WMT

Walmart

$112.15

0.03 (0.03%)

13:37
08/21/19
08/21
13:37
08/21/19
13:37
Periodicals
Amazon opens 'largest campus yet' in south Indian city, Bloomberg says »

According to an earlier…

AMZN

Amazon.com

$1,823.96

21.88 (1.21%)

WMT

Walmart

$112.15

0.03 (0.03%)

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CBL

CBL & Associates

$0.86

0.022 (2.62%)

13:32
08/21/19
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13:32
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13:32
Hot Stocks
CBL Properties to pursue measures to cure NYSE rule non-compliance »

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13:25
08/21/19
08/21
13:25
08/21/19
13:25
Conference/Events
The Food & Drug Law Institute to hold a webinar »

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08/21/19
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13:25
Conference/Events
FOMC releases minutes from July 30-31, 2019 Policy Meeting »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
08/21/19
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Technical Analysis
NASDAQ market internals summary »

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GOOG

Alphabet

$1,195.07

11.64 (0.98%)

, GOOGL

Alphabet Class A

$1,196.08

11.82 (1.00%)

13:16
08/21/19
08/21
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13:16
Hot Stocks
YouTube Premium users can now listen directly within Waze app »

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GOOG

Alphabet

$1,195.07

11.64 (0.98%)

GOOGL

Alphabet Class A

$1,196.08

11.82 (1.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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NYSE market internals summary »

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BHC

Bausch Health

$22.31

1.05 (4.94%)

13:06
08/21/19
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Bausch Health trades up after VP Humphries buys over $650K in shares »

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  • 09

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FB

Facebook

$185.03

1.27 (0.69%)

, TWTR

Twitter

$42.65

0.355 (0.84%)

13:05
08/21/19
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On The Fly
#SocialStocks: New 'Off-Facebook Activity' tool, Argus upgrades Pinterest »

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FB

Facebook

$185.03

1.27 (0.69%)

TWTR

Twitter

$42.65

0.355 (0.84%)

PINS

Pinterest

$36.40

2.05 (5.97%)

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ALXN

Alexion

$113.91

2.49 (2.23%)

13:05
08/21/19
08/21
13:05
08/21/19
13:05
Options
Alexion call volume above normal and directionally bullish »

Bullish option flow…

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  • 09

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VIOT

Viomi Technology

$9.00

-0.27 (-2.91%)

12:57
08/21/19
08/21
12:57
08/21/19
12:57
Initiation
Viomi Technology initiated at Needham »

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  • 21

    Aug

MAS

Masco

$40.58

0.95 (2.40%)

, GWW

Grainger

$276.25

4.29 (1.58%)

12:57
08/21/19
08/21
12:57
08/21/19
12:57
Periodicals
Masco trades higher after Bloomberg report on bidders for cabinet-making unit »

Late in the trading…

MAS

Masco

$40.58

0.95 (2.40%)

GWW

Grainger

$276.25

4.29 (1.58%)

03/08/13
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  • 16

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PFPT

Proofpoint

$117.13

5.14 (4.59%)

12:55
08/21/19
08/21
12:55
08/21/19
12:55
Conference/Events
Proofpoint participates in a conference call with Wedbush »

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    Dec

BLK

BlackRock

$420.88

2.92 (0.70%)

12:54
08/21/19
08/21
12:54
08/21/19
12:54
Periodicals
BlackRock funds get approval to acquire stake in Cofense, WSJ reports »

The Committee on Foreign…

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  • 27

    Oct

GS

Goldman Sachs

$200.90

0.98 (0.49%)

12:52
08/21/19
08/21
12:52
08/21/19
12:52
Periodicals
Goldman Sachs studying sale of Safe-Guard Products unit, Reuters reports »

Goldman Sachs is working…

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  • 15

    Oct

JNJ

Johnson & Johnson

$131.60

1.03 (0.79%)

, LLY

Eli Lilly

$111.90

0.94 (0.85%)

12:26
08/21/19
08/21
12:26
08/21/19
12:26
Periodicals
HHS appeals ruling over pharma prices in TV ads, STAT News reports »

The U.S. Department of…

JNJ

Johnson & Johnson

$131.60

1.03 (0.79%)

LLY

Eli Lilly

$111.90

0.94 (0.85%)

MRK

Merck

$87.16

1.5 (1.75%)

PFE

Pfizer

$35.04

0.42 (1.21%)

SNY

Sanofi

$43.35

0.76 (1.78%)

AZN

AstraZeneca

$45.59

0.97 (2.17%)

GSK

GlaxoSmithKline

$40.85

0.59 (1.47%)

NVS

Novartis

$90.50

1.43 (1.61%)

RHHBY

Roche

$0.00

(0.00%)

BMY

Bristol-Myers

$47.65

0.02 (0.04%)

03/08/13
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