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LOW

Lowe's

$86.80

0.65 (0.75%)

, GS

Goldman Sachs

$193.69

2.35 (1.23%)

10:09
11/21/18
11/21
10:09
11/21/18
10:09

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lowe's (LOW) downgraded to Hold from Buy at Stifel with analyst John Baugh saying the company's "poor" Q3 results indicate near term execution risks are higher and the macro backdrop is unlikely to improve in the near term either. 2. Goldman Sachs (GS) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Betsy Graseck citing the risks and uncertainties related to the bank being investigated for its role in raising funds for 1MDB. 3. Credit Suisse (CS) downgraded to Market Perform from Outperform at Keefe Bruyette. 4. Swatch Group (SWGAY) was downgraded to Sell from Neutral at UBS and to Sector Perform from Outperform at RBC Capital. 5. Alliant Energy (LNT) downgraded to Underperform from Neutral at BofA/Merrill with analyst Julien Dumoulin-Smith 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.

LOW

Lowe's

$86.80

0.65 (0.75%)

GS

Goldman Sachs

$193.69

2.35 (1.23%)

CS

Credit Suisse

$11.93

0.21 (1.79%)

SWGAY

Swatch Group

$0.00

(0.00%)

LNT

Alliant Energy

$44.64

-0.62 (-1.37%)

  • 26

    Nov

  • 27

    Nov

LOW Lowe's
$86.80

0.65 (0.75%)

11/21/18
FBCO
11/21/18
NO CHANGE
Target $99
FBCO
Neutral
Lowe's price target lowered to $99 from $111 at Credit Suisse
Credit Suisse analyst Seth Sigman lowered his price target for Lowe's to $99 from $111 and reiterated a Neutral rating on the shares. The analyst believes Q3 results reflected a transitional period, where comps were still under pressure due to the many execution and store level issues, although some progress was made in laying the foundational elements of this turnaround including exiting non-core assets and optimizing its assortment and inventory position. Overall, Sigman thinks it is too early to judge the turnaround, and sees many opportunities for improvement although estimates already embed that, and there is risk the demand trends are less supportive. The roadmap in December will be the next major catalyst, he contends.
11/21/18
STFL
11/21/18
DOWNGRADE
Target $92
STFL
Hold
Lowe's downgraded to Hold from Buy at Stifel
Stifel analyst John Baugh downgraded Lowe's (LOW) to Hold from Buy and lowered his price target for the shares to $92 from $125. The company's "poor" Q3 results indicate near term execution risks are higher and the macro backdrop is unlikely to improve in the near term either, Baugh tells investors in a post-earnings research note. With macro concerns and execution worries, the analyst feels "it is prudent to step aside on the name at this time." Home Depot (HD) has "widened the gap on performance and it will take some heavy lifting to reverse course," Baugh contends.
11/21/18
KEYB
11/21/18
NO CHANGE
Target $115
KEYB
Overweight
Lowe's price target lowered to $115 from $125 at KeyBanc
KeyBanc analyst Bradley Thomas lowered his price target for Lowe's to $115 from $125, while reiterating an Overweight rating on the shares. The analyst notes that Q3 EPS was above expectations, on tax rate and margins, though comps came in below expectations. The company continues to on-board new executives under the leadership of new CEO Marvin Ellison, and new initiatives to improve productivity and capital efficiency will ramp in the quarters ahead, he contends. Thomas looks for meaningful self-help opportunities to scale in 2019, which keeps him positive, even with moderated expectations for the industry.
11/21/18
WEDB
11/21/18
NO CHANGE
Target $95
WEDB
Neutral
Lowe's price target lowered to $95 from $115 at Wedbush
Wedbush analyst Seth Basham lowered his price target for Lowe's to $95 from $115 after the company posted Q3 results that were a bit weaker than expected on the top line and ticked down 2018 comp and adjusted margin guidance. Lowe's execution missteps weighed on Q3 results more than planned and will weigh on Q4 results, he notes. The analyst believes the company is moving in the right direction as it sheds non-core assets and focuses on core value drivers, but this quarter's results show that sustainable change is neither linear nor quick in large retail organizations. Basham reiterates a Neutral rating on the shares.
GS Goldman Sachs
$193.69

2.35 (1.23%)

11/21/18
11/21/18
DOWNGRADE
Target $226

Equal Weight
Goldman Sachs downgraded to Equal Weight on 1MDB probe risks at Morgan Stanley
As previously reported, Morgan Stanley analyst Betsy Graseck downgraded Goldman Sachs to Equal Weight from Overweight, citing the risks and uncertainties related to the bank being investigated for its role in raising funds for 1MDB. It is currently unclear how long the issue will take to resolve, what the fines and penalties could be and what costs Goldman will incur, said Graseck, who doesn't see the stock's multiple expanding significantly until the 1MDB issue is resolved. She lowered her price target on Goldman Sachs shares to $226 from $291.
11/21/18
MSCO
11/21/18
DOWNGRADE
MSCO
Equal Weight
Goldman Sachs downgraded to Equal Weight from Overweight at Morgan Stanley
11/15/18
11/15/18
NO CHANGE

Morgan Stanley says 13F a 'clear signal' of value Buffett sees in financials
Following the release last night of 13F filings detailing the holdings of large investors, including Berkshire Hathaway (BRK.A), Morgan Stanley analyst Kai Pan noted that the filing from Warren Buffett's Berkshire revealed increased stakes in Bank of America (BAC), U.S. Bancorp (USB) and Goldman Sachs (GS) along with new stakes in JPMorgan (JPM), PNC Financial (PNC) and Travelers (TRV). The analyst sees these investments, along with the fact that Berkshire's s financial holdings stood at 46% of its overall $203B equity portfolio as of quarter end, as a "clear signal" of the value that Buffett sees in financials, Pan tells investors. He adds that he views Buffett's new stake in Oracle (ORCL) as another "notable" new purchase.
10/17/18
BMOC
10/17/18
NO CHANGE
Target $276
BMOC
Market Perform
Goldman Sachs price target raised to $276 from $261 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Goldman Sachs to $276 after its Q3 earnings beat, with results featuring higher than expected investment banking fees and a "strong showing" from its incoming CFO Stephen Scherr. The analyst notes that financials are "cheap again" in spite of the rising short-term rates, improving employment, and continued regulatory relief. Fotheringham also keeps his Market Perform rating on Goldman Sachs on valuation, noting that its two-year foward PE multiple is "only slightly" below its long-term historical average.
CS Credit Suisse
$11.93

0.21 (1.79%)

11/02/18
11/02/18
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. Apple (AAPL) downgraded to Neutral from Buy at BofA/Merrill with analyst Wamsi Mohan citing his concern that there are likely to be further negative estimate revisions. 2. American Tower (AMT) downgraded to Hold on 'full valuation' at Deutsche Bank with analyst Matthew Niknam saying he sees risk to estimates and a "full valuation" at current share levels. 3. Credit Suisse (CS) downgraded to Hold from Buy at Societe Generale. 4. Puma Biotechnology (PBYI) downgraded to Underweight from Equal Weight at Barclays, to Underweight from Overweight at JPMorgan, and to Underperform from Buy at BofA/Merrill. 5. UPS (UPS) downgraded to Neutral from Buy at Citi with analyst Christian Wetherbee lowering his price target for the shares to $115 from $125. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/02/18
SOCG
11/02/18
DOWNGRADE
SOCG
Hold
Credit Suisse downgraded to Hold from Buy at Societe Generale
09/10/18
09/10/18
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. Foot Locker (FL) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying after 12-18 months of choppy operating performance, he believes that brighter days are ahead for Foot Locker due primarily to improvement in the Nike-brand (NKE) assortment, an alleviation of the Jordan-brand headwind and an alleviation of the headwinds in Europe. 2. Kennametal (KMT) upgraded to Buy from Neutral at Longbow. 3. Credit Suisse (CS) upgraded to Equal Weight from Underweight at Barclays with analyst Amit Goel saying the risk/reward looks more balanced at current share levels. 4. Cenovus Energy (CVE) upgraded to Overweight from Neutral at JPMorgan with analyst Phil Gresh saying the company's rail deal with Canadian National (CNI) and its deleveraging will unlock "cheap" free cash flow yield. 5. Akamai (AKAM) upgraded to Buy from Neutral at DA Davidson with analyst Mark Kelleher citing his meeting with management last week to discuss its Q2 results and the company direction going into 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/21/18
KBWI
11/21/18
DOWNGRADE
KBWI
Market Perform
Credit Suisse downgraded to Market Perform from Outperform at Keefe Bruyette
SWGAY Swatch Group
$0.00

(0.00%)

10/25/18
HSBC
10/25/18
UPGRADE
HSBC
Buy
Swatch Group upgraded to Buy from Hold at HSBC
HSBC analyst Anne-Laurie Bismuth upgraded Swatch Group to Buy from Hold but lowered her price target to CHF 420 from CHF 490.
11/21/18
RBCM
11/21/18
DOWNGRADE
RBCM
Sector Perform
Swatch Group downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Rogerio Fujimori downgraded Swatch Group to Sector Perform and lowered his price target for the shares to 370 francs from 450 francs. The analyst sees a lack of near-term catalysts and believes current consensus margin expectations are too high.
11/21/18
UBSW
11/21/18
DOWNGRADE
UBSW
Sell
Swatch Group downgraded to Sell from Neutral at UBS
10/18/18
SOCG
10/18/18
UPGRADE
SOCG
Hold
Swatch Group upgraded to Hold from Sell at Societe Generale
Societe Generale analyst Thierry Cota upgraded Swatch Group to Hold while lowering his price target for the shares to 356 francs to 410 francs.
LNT Alliant Energy
$44.64

-0.62 (-1.37%)

10/08/18
MZHO
10/08/18
INITIATION
Target $44
MZHO
Neutral
Alliant Energy initiated with a Neutral at Mizuho
Mizuho analyst Elizabeth Guynn initiated Alliant Energy with a Neutral and $44 price target saying above average earnings growth of 6% is reflected in premium valuation.
08/13/18
WOLF
08/13/18
DOWNGRADE
WOLF
Underperform
Alliant Energy downgraded to Underperform from Peer Perform at Wolfe Research
agWolfe Research downgraded Alliant Energy to Underperform citing valuation.
11/21/18
BOFA
11/21/18
DOWNGRADE
BOFA
Underperform
Alliant Energy downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Julien Dumoulin-Smith downgraded Alliant Energy to Underperform from Neutral citing relative valuation. The analyst side the current premium valuation is unwarranted given declining CapEx and moderating earnings growth.
07/24/18
HOWW
07/24/18
INITIATION
Target $44
HOWW
Sector Perform
Alliant Energy reinstated with a Sector Perform at Scotia Howard Weil
Scotia Howard Weil analyst Andrew Weisel reinstated Alliant Energy with a Sector Perform and $44.

TODAY'S FREE FLY STORIES

ICE

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-0.48 (-0.65%)

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ICE's Bakkt crypto subsidary currently valued at around $740M, The Block reports »

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CRZBY

Commerzbank

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AMTD

TD Ameritrade

$50.00

-2.07 (-3.98%)

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SO

Southern Company

$52.00

0.45 (0.87%)

10:38
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DISCB

Discovery Inc.

$31.55

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BMY

Bristol-Myers

$48.65

-0.27 (-0.55%)

, CELG

Celgene

$88.99

-0.63 (-0.70%)

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Starboard is not short shares of Celgene, Smith says »

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CELG

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$88.99

-0.63 (-0.70%)

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  • 27

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  • 03

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CELG

Celgene

$89.01

-0.61 (-0.68%)

, BMY

Bristol-Myers

$48.61

-0.31 (-0.63%)

10:32
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Hot Stocks
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CELG

Celgene

$89.01

-0.61 (-0.68%)

BMY

Bristol-Myers

$48.61

-0.31 (-0.63%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 27

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CELG

Celgene

$89.10

-0.52 (-0.58%)

, BMY

Bristol-Myers

$48.66

-0.26 (-0.53%)

10:30
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Starboard's Smith says Bristol-Myers does not need to do any deal »

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CELG

Celgene

$89.10

-0.52 (-0.58%)

BMY

Bristol-Myers

$48.66

-0.26 (-0.53%)

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

Fifth Third

$24.88

-0.55 (-2.16%)

10:30
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Heavy call volume in Fifth Third Bank »

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  • 16

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DISCB

Discovery Inc.

$31.55

(0.00%)

10:29
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DHI

D.R. Horton

$40.93

0.4 (0.99%)

10:25
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D R Horton call volume above normal and directionally bullish »

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10:25
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TRCH

Torchlight Energy Resources

$1.64

0.01 (0.61%)

10:25
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INGN

Inogen

$92.59

-2.15 (-2.27%)

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LOV

Spark Networks

$12.78

1.49 (13.20%)

10:25
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Conference/Events
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UTX

United Technologies

$125.73

-1.16 (-0.91%)

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10:20
03/22/19
03/22
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General news
FX Action: The dollar »

FX Action: The dollar was…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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03/22
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10:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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NYSE market internals summary »

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10:15
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BITCOIN

Bitcoin

$0.00

(0.00%)

, BTC

Bitcoin

$0.00

(0.00%)

10:14
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03/22
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10:14
On The Fly
The Intersection: Crypto and Wall Street This Week »

As bitcoin, ethereum and…

BITCOIN

Bitcoin

$0.00

(0.00%)

BTC

Bitcoin

$0.00

(0.00%)

SQ

Square

$76.69

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TWTR

Twitter

$33.68

1.07 (3.28%)

ICE

IntercontinentalExchange

$72.54

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CBOE

Cboe Global Markets

$93.64

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IBM

IBM

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BBD

Banco Bradesco

$10.66

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OSTK

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AMD

AMD

$26.94

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NVDA

Nvidia

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DPW

DPW Holdings

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KODK

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IDEX

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RIOT

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TEUM

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$4.57

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SRAX

Social Reality

$2.50

(0.00%)

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TWTR

Twitter

$33.97

1.36 (4.17%)

10:10
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03/22
10:10
03/22/19
10:10
Options
Active trading in Twitter as shares see relative strength »

Active trading in Twitter…

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