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FE

FirstEnergy

$38.33

-0.36 (-0.93%)

, NLSN

Nielsen

$25.96

-0.58 (-2.19%)

17:52
11/14/18
11/14
17:52
11/14/18
17:52

Elliott takes new stake in FirstEnergy, reduces NXP Semi stake in Q3

Paul Singer's Elliott Management disclosed in an SEC filing its holdings as of September 30, 2018. Elliott's 21 new buys during the third quarter included, by size of position, FirstEnergy (FE), Nielsen (NLSN), Sabre Corp (SABR), and Community Health Systems (CYH). Elliott exited three positions during the quarter, including by size of previous position, Investors Bancorp (ISBC) and Wipro (WIT). Elliott increased its stake in seven holdings, including by size of previous position, Sempra (SRE), Devon Energy (DVN), Hess (HES), and QEP Resources (QEP). Elliott reduced its stake in nine holdings, including by size of previous position, NXP Semiconductors (NXPI), Peabody Energy (BTU), CDK Global (CDK), and Imperva (IMPV). Elliott's top holdings as of September 30, 2018, in order of size, were Hess, Sempra, Arconic (ARNC), Peabody, and FirstEnergy.

FE

FirstEnergy

$38.33

-0.36 (-0.93%)

NLSN

Nielsen

$25.96

-0.58 (-2.19%)

SABR

Sabre

$24.88

-0.29 (-1.15%)

CYH

Community Health

$3.70

-0.11 (-2.89%)

ISBC

Investors Bancorp

$11.89

-0.28 (-2.30%)

WIT

Wipro

$5.17

0.03 (0.58%)

SRE

Sempra Energy

$112.77

-3.27 (-2.82%)

DVN

Devon Energy

$30.54

-0.36 (-1.17%)

HES

Hess Corp.

$55.95

-0.02 (-0.04%)

QEP

QEP Resources

$8.07

-0.35 (-4.16%)

NXPI

NXP Semiconductors

$82.12

0.34 (0.42%)

BTU

Peabody Energy

$35.69

-0.62 (-1.71%)

CDK

CDK Global

$50.01

-0.49 (-0.97%)

IMPV

Imperva

$55.89

(0.00%)

ARNC

Arconic

$20.34

0.23 (1.14%)

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FE FirstEnergy
$38.33

-0.36 (-0.93%)

07/10/18
LEHM
07/10/18
INITIATION
Target $39
LEHM
Equal Weight
FirstEnergy initiated with an Equal Weight at Barclays
Barclays analyst Eric Beaumont started FirstEnergy with an Equal Weight rating and $39 price target.
06/18/18
MSCO
06/18/18
NO CHANGE
MSCO
Overweight
Utilities sector upgraded to Overweight at Morgan Stanley
Morgan Stanley equity strategist Michael Wilson noted that year-to-date performance across assets shows large divergences in performance across the risk spectrum, arguing that it is "probably not too early" to start shifting out of some of the extreme cyclicals and picking up more defensively oriented names given the "ever tightening" financial conditions. He upgraded the Utilities sector to Overweight, citing expectations of peak 10 Year Treasury yields and improving relative earnings breadth. The firm has individual Overweight ratings on American Electric (AEP), FirstEnergy (FE), NextEra Energy (NEE), NextEra Energy Partners (NEP), PG&E (PCG), PSEG (PEG) and Xcel Energy (XEL).
07/24/18
HOWW
07/24/18
INITIATION
Target $39
HOWW
Outperform
FirstEnergy reinstated with an Outperform at Scotia Howard Weil
Scotia Howard Weil analyst Andrew Weisel reinstated FirstEnergy with an Outperform and $39 price target.
09/21/18
09/21/18
NO CHANGE

Morgan Stanley shakes up utility ratings, upgrades Atmos, downgrades Xcel
As previously reported, Morgan Stanley analyst Stephen Byrd upgraded Atmos Energy (ATO) to Overweight from Equal Weight as he laid out his favorite ideas in regulated utilities based on his estimates of their 2020 earnings power. Byrd believes Atmos' 5% discount to the gas utility group undervalues its "best-in-class" growth outlook and attractive regulatory environment, he tells investors. Byrd also downgraded Xcel Energy (XEL) to Equal Weight from Overweight, telling investors that he sees modest level of upside remaining in the stock and few near-term catalysts for outperformance. In shifting his focus to 2020 earnings power, Byrd also identifies FirstEnergy (FE), PSEG (PEG), American Electric (AEP) and NextEra Energy (NEE) as stocks in the group with undervalued growth.
NLSN Nielsen
$25.96

-0.58 (-2.19%)

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.
08/29/18
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
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.
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.
SABR Sabre
$24.88

-0.29 (-1.15%)

05/15/18
BOFA
05/15/18
UPGRADE
Target $29
BOFA
Buy
Sabre upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst John King upgraded Sabre to Buy from Neutral and raised its price target to $29 from $25. King said Sabre's technology modernization, while early in its refresh, has already had a positive impact on the company's competitive positioning as seen in Q1 results in with gains in both GDS and Airline solutions divisions. The analyst is confident in a turnaround and believes Sabre's medium guidance is achievable, and could prove conservative, with further wins in Airline IT being additive to its outlook.
08/01/18
IMPC
08/01/18
NO CHANGE
Target $31
IMPC
Outperform
Sabre valuation attractive at current levels, says Imperial Capital
Imperial Capital analyst Adam Hackel views the valuation of Sabre as attractive following the company's Q2 results. The company has a strong earnings and cash flow trajectory through fiscal 2019, Hackel tells investors in a research note. He keeps an Outperform rating on the shares with a $31 price target.
10/31/18
IMPC
10/31/18
NO CHANGE
Target $33
IMPC
Outperform
Sabre price target raised to $33 from $31 at Imperial Capital
Imperial Capital analyst Adam Hackel raised his price target for Sabre to $33 and maintains an Outperform rating on the shares following the company's better than expected Q3 earnings and raised fiscal 2018 guidance. The earnings beat was driven by primarily better than expected revenue growth in the Travel Network and Airline Solutions segments, Hackel tells investors in a post-earnings research note. He believes current valuations are attractive considering Sabre's "strong" free cash flow and earnings trajectory through fiscal 2019.
06/06/18
DBAB
06/06/18
NO CHANGE
Target $28
DBAB
Buy
Sabre price target raised to $28 from $25 at Deutsche Bank
Deutsche Bank analyst Ashish Sabadra raised his price target for Sabre to $28 saying new wins are driving "robust" momentum. New wins including Flight Center, Travelgenio and multiple Wyndham brands, along with earlier than expected private channel deals, should deliver potential beat and raise over the next few quarters, Sabadra tells investors in a research note. The analyst raised his estimates and keeps a Buy rating on Sabre.
CYH Community Health
$3.70

-0.11 (-2.89%)

08/14/18
LEHM
08/14/18
INITIATION
LEHM
Barclays starts Hospital sector with Neutral outlook, top pick HCA
Barclays analyst Steve Valiquette initiated coverage of the Hospital sector with a Neutral rating. Operators continue to face incremental pressures from alternative payment models that are shifting incentives towards lower-cost sites of care, Valiquette tells investors in a research note. He believes, however, that despite industry headwinds, operators levered to markets with high population growth and high relative market share will continue to outperform the industry. The analyst's only Overweight rated name in space is HCA Healthcare (HCA). The analyst initiated coverage of HCA with an Overweight rating and $150 price target. He sees HCA as well positioned in local markets. Valiquette also started Universal Health Services (UHS) and Tenet Healthcare (THC) with Equal Weight ratings. His lone Underweight rating is put on Community Health Systems (CYH). The company is still burdened with excessive debt and constrained free cash flow from its rural hospital footprint, Valiquette contends.
10/31/18
CANT
10/31/18
NO CHANGE
Target $4
CANT
Neutral
Community Health price target lowered to $4 from $6 at Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph France lowered his price target for Community Health Systems to $4 citing reduced long-term growth expectations and a higher discount rate to account for a slower pace of debt reduction. The reported slightly higher than expected revenue and earnings , but the upside reflects delays in completing divestitures, because volumes are soft, France tells investors in a post-earnings research note. He keeps a Neutral rating on Community Health.
11/07/18
MSCO
11/07/18
NO CHANGE
MSCO
Split Congress 'best outcome' for MCOs and hospitals, says Morgan Stanley
Morgan Stanley analyst Zack Sopcak contends that the Democratic party retaking the majority in the House of Representatives and Republicans retaining the Senate is the "best outcome" for Managed Care Organizations and hospitals, stating that he now sees another attempt at a repeal/replace of the Affordable Care Act as "off the table." The split Congress could also lower the volume on the "Medicare for All" debate given a lack of mandate from either the Democratic or Republican party, Sopcak tells investors. The election results remove a key overhang for Centene (CNC) and Molina (MOH), which he views as most exposed to the ACA marketplace, and to a lesser extent the hospitals, Sopcak added. With ACA repeal/replace off the table, and given the longer term potential upside from Medicaid expansion in Utah and Idaho as expansion ballot initiatives appear to be passing in both states, Sopcak said Molina is emerging as his top pick in the space heading into the final weeks of 2018. Publicly traded hospital companies include Community Health (CYH), HCA Healthcare (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
08/14/18
LEHM
08/14/18
INITIATION
Target $3
LEHM
Underweight
Community Health initiated with an Underweight at Barclays
Barclays analyst Steven Valiquette started Community Health Systems with an Underweight rating and $3 price target.
ISBC Investors Bancorp
$11.89

-0.28 (-2.30%)

04/05/18
SDLR
04/05/18
UPGRADE
SDLR
Buy
Investors Bancorp upgraded to Buy from Hold at Sandler O'Neill
04/05/18
SDLR
04/05/18
UPGRADE
Target $15.5
SDLR
Buy
Sandler upgrades Investors Bancorp to Buy after management meetings
Sandler O'Neill analyst Mark Fitzgibbon upgraded Investors Bancorp to Buy from Hold with a price target of $15.50. The analyst left recent meetings with management "incrementally more bullish" on the company's outlook. Following the 7% pullback in the shares since his downgrade to Hold in November, Fitzgibbon upgrades Investors Bancorp back to Buy.
05/04/18
LEHM
05/04/18
UPGRADE
Target $15
LEHM
Equal Weight
Investors Bancorp upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Matthew Keating upgraded Investors Bancorp to Equal Weight and raised his price target for the shares to $15 from $14. The analyst believes the company will meet or modestly exceed consensus earnings estimates for 2018 and 2019. Further, he believes board changes could lead to Investors Bancorp considering additional strategic actions.
11/30/17
SDLR
11/30/17
DOWNGRADE
Target $15.5
SDLR
Hold
Investors Bancorp downgraded to Hold on valuation at Sandler O'Neill
Sandler O'Neill analyst Mark Fitzgibbon downgraded Investors Bancorp to Hold from Buy citing valuation with the shares up 3% over the past three trading days. The analyst keeps a $15.50 price target for the shares.
WIT Wipro
$5.17

0.03 (0.58%)

07/05/18
LYON
07/05/18
UPGRADE
LYON
Underperform
Wipro upgraded to Underperform from Sell at CLSA
09/13/18
FBCO
09/13/18
UPGRADE
FBCO
Outperform
Wipro upgraded to Outperform from Neutral at Credit Suisse
09/10/18
MACQ
09/10/18
UPGRADE
MACQ
Outperform
Wipro upgraded to Outperform from Neutral at Macquarie
07/24/18
LYON
07/24/18
DOWNGRADE
LYON
Sell
Wipro downgraded to Sell from Underperform at CLSA
SRE Sempra Energy
$112.77

-3.27 (-2.82%)

10/11/18
BOFA
10/11/18
UPGRADE
Target $126
BOFA
Buy
Sempra Energy upgraded to Buy at BofA/Merrill
As previously reported, BofA/Merrill upgraded Sempra Energy to Buy from Neutral and raised its price target to $126 from $120. Analyst Julien Dumoulin-Smith said share weakness provides and attractive entry point given a substantial organic growth program and strong balance sheet.
09/21/18
GSCO
09/21/18
UPGRADE
Target $128
GSCO
Conviction Buy
Sempra Energy upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Michael Lapides added Sempra Energy to his firm's Americas Conviction List while keeping a Buy rating on the shares. The analyst upped his price target for the stock to $128 from $126. He sees improved project economics at Sempra's Mexico business as well as lower interest at the holding company. Lapides says Sempra Energy is now a top pick.
10/11/18
BOFA
10/11/18
UPGRADE
BOFA
Buy
Sempra Energy upgraded to Buy from Neutral at BofA/Merrill
08/20/18
08/20/18
UPGRADE
Target $128

Outperform
Sempra Energy upgraded to Outperform on favorable risk/reward at Wells Fargo
As previously reported, Wells Fargo analyst Sarah Akers upgraded Sempra Energy to Outperform from Market Perform and raised her price target on the shares to $128 from $125. Following the one-day activist-driven pop back on June 11, the shares have underperformed by nearly 13%. With several overhangs in the rear-view mirror and various potential catalysts ahead, along with the recent underperformance, Akers thinks the risk/reward has shifted back in investors' favor.
DVN Devon Energy
$30.54

-0.36 (-1.17%)

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.
10/24/18
SOCO
10/24/18
UPGRADE
SOCO
Overweight
Devon Energy upgraded to Overweight from Equalweight at Capital One
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.
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.
HES Hess Corp.
$55.95

-0.02 (-0.04%)

09/27/18
BERN
09/27/18
INITIATION
Target $89
BERN
Outperform
Hess Corp. initiated with an Outperform at Bernstein
Bernstein initiated Hess Corp. with an Outperform and $89 price target.
09/28/18
09/28/18
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. Tesla (TSLA) downgraded to Sell from Neutral at Citi with analyst Itay Michaeli saying he is making a "risk/reward call" into the outcome of the SEC lawsuit against CEO Elon Musk. 2. IPG Photonics (IPGP) downgraded to Neutral from Buy at Longbow. 3. Phillips 66 Partners (PSXP) downgraded to Underweight at Morgan Stanley with analyst Tom Abrams saying he believes the market is ascribing what he views as relatively high multiples to the units, particularly after recent underperformance by some peers. 4. MedEquities Realty downgraded to Neutral from Overweight at Cantor Fitzgerald with analyst Joseph France saying he reduced his expectations for the stock on the assumption that resolving some of its operator issues might take longer than he expected. 5. Apache (APA) and Hess Corp. (HES) were downgraded to Neutral from Overweight at Piper Jaffray. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/18
LEHM
10/30/18
UPGRADE
Target $66
LEHM
Equal Weight
Hess Corp. upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Paul Cheng upgraded Hess Corp. to Equal Weight with an unchanged price target of $66. The analyst views the valuation as more favorable following the recent pullback in the shares.
09/28/18
09/28/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Zynga (ZNGA) initiated with a Buy at Stifel. 2. TechTarget (TTGT) initiated with an Outperform at Raymond James. 3. Q2 Holdings (QTWO) initiated with an Equal Weight at Stephens. 4. Hess Corp. (HES) initiated with an Outperform at Bernstein. 5. Hormel Foods (HRL) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
QEP QEP Resources
$8.07

-0.35 (-4.16%)

10/23/18
WELS
10/23/18
DOWNGRADE
WELS
Market Perform
QEP Resources downgraded to Market Perform from Outperform at Wells Fargo
10/23/18
WELS
10/23/18
DOWNGRADE
Target $14
WELS
Market Perform
QEP Resources downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Gordon Douthat downgraded QEP Resources to Market Perform from Outperform and lowered his price target to $14 from $18, citing "mixed" results in its efforts to divest non-core assets in Williston and Haynesville basin regions along with delays in the sale process. The analyst adds that even if the company's Permian pure-play transition was successful, it will soon be faced with "the need for additional inventory" based on the current assets of its production capacity. Douthat further notes that QEP Resources enjoys an enterprise value to EBITDA valuation multiple that is in line with its peers while offering below-peer production and cash flow growth.
11/07/18
TUDR
11/07/18
UPGRADE
TUDR
Buy
QEP Resources upgraded to Buy from Hold at Tudor Pickering
11/07/18
11/07/18
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 Cowen with analyst Oliver Chen saying he believes its combination of strong price value, convenient digitally-enabled pick up options, private brand innovation, and traffic will drive the stock higher. 2. Spark Therapeutics (ONCE) upgraded to Strong Buy from Outperform at Raymond James, to Buy from Neutral at B. Riley FBR, and to Neutral from Underperform at Wedbush. 3. USA Compression (USAC) upgraded to Outperform from Sector Perform at RBC Capital with analyst TJ Schultz saying the company's strong market fundamentals and synergies from its CDM compression acquisition should allow it to de-lever and grow coverage. 4. Noble Energy (NBL) upgraded to Outperform from Market Perform at Raymond James and to Buy from Hold at Tudor Pickering. 5. QEP Resources (QEP) upgraded to Buy from Hold at Tudor Pickering. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NXPI NXP Semiconductors
$82.12

0.34 (0.42%)

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.
11/02/18
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.
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.
BTU Peabody Energy
$35.69

-0.62 (-1.71%)

10/01/18
MKMP
10/01/18
NO CHANGE
Target $54
MKMP
Buy
Peabody Energy EBITDA estimates lowered at MKM Partners on North Goonyella fire
MKM Partners analyst Daniel Scott kept his Buy rating and $54 price target on Peabody Energy but lowered his Q4 EBITDA estimate to $341M from $393M after the company disclosed a fire at its flagship Australian coking coal mine on Friday. The analyst notes that while the company kept its FY coking coal sales guidance in spite of shuttering the mine for the rest of Q4, he expects the average realized price to decline from the loss of North Goonyella. After Friday's 13% decline in the stock price, Scott also believes that Peabody Energy shares now "more than fully" discount the loss of the mine.
10/01/18
RILY
10/01/18
NO CHANGE
Target $45
RILY
Buy
Peabody Energy price target lowered to $45 from $54 at B. Riley FBR
B. Riley FBR analyst Lucas Pipes lowered his price target for Peabody Energy to $45 but keeps a Buy rating on the shares. The analyst believes the market is assuming the worse-case for North Goonyella.
09/28/18
09/28/18
DOWNGRADE

Neutral
Follow-up: Peabody Energy downgraded following mine fire at Seaport Global
As previously reported, Seaport downgraded Peabody Energy to Neutral from Buy. Analyst Mark Levin said the fire at Peabody's North Goonyella mine creates uncertainty around the future of this very important met coal asset as it accounts for approximately 25% of the company's total met coal shipments. While the fire is clearly a negative for Peabody, Levin believes it is good for the overall met market, which is very tight at the moment.
09/28/18
CLKS
09/28/18
DOWNGRADE
CLKS
Neutral
Peabody Energy downgraded earlier to Neutral from Buy at Clarksons Platou
CDK CDK Global
$50.01

-0.49 (-0.97%)

11/08/18
WELS
11/08/18
DOWNGRADE
WELS
Market Perform
CDK Global downgraded to Market Perform from Outperform at Wells Fargo
11/08/18
11/08/18
DOWNGRADE
Target $55

Market Perform
CDK Global downgraded to Market Perform on variety of headwinds at Wells Fargo
As previously reported, Wells Fargo analyst Timothy Willi downgraded CDK Global to Market Perform from Outperform and lowered his price target on the shares to $55 from $80. The analyst believes that CDK faces a variety of headwinds during FY19 that will likely limit upside in the shares despite the discounted valuation. The analyst believes the company must address its 1-2 dealer segment and diversify/restructure its advertising business, while operating in an environment where the auto sales cycle is maturing and sales, advertising budgets and IT spend most likely have peaked. At the same time CDK has appointed a new CEO who presents a scenario where the market may expect a shift in strategy and additional movement on the management team, creating uncertainty, he adds. From a fundamental standpoint, the analyst notes that organic revenue growth is expected to remain roughly flat in FY'19, while margin expansion initiatives have largely run their course.
11/08/18
11/08/18
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. Square (SQ) downgraded to Neutral from Positive at Susquehanna analyst James Friedman citing valuation and the lack of a CFO at the company. 2. Landstar System (LSTR) downgraded to Neutral from Buy at Goldman Sachs and to Sector Weight from Overweight at KeyBanc. 3. Dean Foods (DF) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale saying he believes the company's cost savings opportunity is significant enough to more than offset secular headwinds. 4. Ctrip (CTRP) downgraded to Neutral from Outperform at Credit Suisse, to Neutral from Buy at Citi, to Underperform from Outperform at CLSA, and to Hold from Buy at China Renaissance. 5. CDK Global (CDK) downgraded to Market Perform from Outperform at Wells Fargo with analyst Timothy Willi saying he believes that CDK faces a variety of headwinds during FY19 that will likely limit upside in the shares despite the discounted 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.
11/13/18
BRRR
11/13/18
NO CHANGE
Target $80
BRRR
Outperform
CDK Global post-earnings pullback unwarranted, says Barrington
Barrington analyst Gary Prestopino said CDK Global's Q1 results were better than his expectations and he believes the decline of over 12% in the shares since the report is unwarranted and has created a significant buying opportunity. He also notes the company's guidance reduction was due to its inclusion of ELEAD1ONE, the deal for which recently closed and will be dilutive to FY19 results. Prestopino maintains an Outperform rating on CDK shares with an $80 price target.
IMPV Imperva
$55.89

(0.00%)

11/06/18
RBCM
11/06/18
DOWNGRADE
RBCM
Sector Perform
Imperva downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Matthew Hedberg downgraded Imperva to Sector Perform based on the company's agreement to be acquired by Thoma Bravo. The analyst notes that the multiple paid is "reasonable" and does not anticipate the emergence of a competing offer.
10/15/18
KEYB
10/15/18
DOWNGRADE
KEYB
Sector Weight
Imperva downgraded to Sector Weight from Overweight at KeyBanc
10/11/18
JPMS
10/11/18
UPGRADE
Target $55.75
JPMS
Neutral
Imperva upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Sterling Auty upgraded Imperva to Neutral citing the proposed takeover by Thoma Bravo at $55.75 per share. The analyst expects the transaction will go through and raised his price target for the shares to $55.75 from $48.
10/15/18
10/15/18
DOWNGRADE

Sector Weight
Imperva downgraded to Sector Weight on Thoma Bravo acquisition at KeyBanc
As previously reported, KeyBanc analyst Rob Owens downgraded Imperva to Sector Weight from Overweight after the company announced a definitive agreement to be acquired by Thoma Bravo. The analyst notes the deal is currently expected to close late in Q4 or early in Q1.
ARNC Arconic
$20.34

0.23 (1.14%)

10/31/18
JEFF
10/31/18
NO CHANGE
Target $25
JEFF
Buy
Arconic risk/reward favorable after Q3 beat, says Jefferies
Jefferies analyst Martin Englert reiterates a Buy rating on Arconic with a $25 price target citing a favorable risk/reward post the company's Q3 beat and reports of a possible private equity takeout. The company continues to make incremental improvements within Engineered Products & Solutions amidst partly offsetting factors, Englert tells investors in a post-earnings research note. He notes that his leveraged buyout model values Arconic at $26 per share.
09/17/18
LBOW
09/17/18
DOWNGRADE
LBOW
Neutral
Arconic downgraded to Neutral from Buy at Longbow
10/10/18
MSCO
10/10/18
NO CHANGE
Target $22
MSCO
Equal Weight
Morgan Stanley says Arconic could rise to $28, or fall to $17, pending review
With Arconic expected to host an investor event in November where management is expected to share the results of their strategic review, Morgan Stanley analyst Rajeev Lalwani lays out three potential scenarios and the associated move in the stock that he sees in each theoretical case. In Scenario 1, which he views as most probable, Arconic will announce significant asset sales as it continues its shift toward becoming a pure-play A&D company. In such a scenario, Lalwani sees the stock trading at about $22 per share. In Scenario 2, the company announces a full buyout and he sees the stock moving up to about $28 per share. Lalwani puts the odds of this scenario at 30%. In Scenario 3, the company announces limited strategic activity beyond those noted to-date and in such a case Lalwani sees the stock falling to $17 per share to re-test its early 2018 lows. Ahead of the potential catalyst of the investor day and end of the review, Lalwani keeps an Equal Weight rating and $22 price target on Arconic.
09/17/18
09/17/18
DOWNGRADE

Neutral
Arconic downgraded to Neutral on valuation at Longbow
As previously reported, Longbow downgraded Arconic to Neutral from Buy. Analyst Chris Olin cites valuation, limited upside to EP&S Segment margins and recent checks that appear evenly balanced for his change in view.

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AEO

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ANGI

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AAPL

Apple

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Avangrid

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BAC

Bank of America

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Regional Management

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BRY

Berry Petroleum

$8.59

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CSWI

CSW Industrials

$70.20

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17:52
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OAS

Oasis Petroleum

$3.03

0.135 (4.66%)

17:49
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EE

El Paso Electric

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HON

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VIVE

Viveve

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PRGO

Perrigo

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UAL

United Continental

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MBIO

Mustang Bio

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BCLI

BrainStorm

$3.63

0.055 (1.54%)

17:24
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WLK

Westlake Chemical

$61.27

0.66 (1.09%)

17:15
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GIG

GigCapital

$10.30

(0.00%)

17:10
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