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CREE

Cree

$43.51

-2.45 (-5.33%)

, GS

Goldman Sachs

$189.96

-4.89 (-2.51%)

10:16
11/30/18
11/30
10:16
11/30/18
10:16

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cree (CREE) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Goldman Sachs (GS) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier saying the uncertainty around the 1MDB investigation could limit the stock's upside potential if markets stabilize. 3. Denbury Resources (DNR) downgraded to Perform from Outperform at Oppenheimer with analyst Tim Rezvan saying he lacks confidence that Denbury will get enough votes to close the acquisition of Penn Virginia (PVAC) and sees an increased risk of "strategic limbo" should the deal fall through. 4. Sprouts Farmers Market (SFM) downgraded to Underperform from Buy at BofA/Merrill with analyst Robert Ohems following CEO Amin Maredla's plans to leave the company. Ohems believes Maredla is leaving to pursue other interests, but said the transition comes at a difficult time given expectations Q4 and 1H 2019 are already expected to be challenging. 5. Assertio Therapeutics (ASRT) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying while the amended Nucynta royalty agreement with Collegium removes an overhang on the stock, the stock's one-year upside is limited. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

CREE

Cree

$43.51

-2.45 (-5.33%)

GS

Goldman Sachs

$189.96

-4.89 (-2.51%)

DNR

Denbury Resources

$2.16

-0.16 (-6.90%)

SFM

Sprouts Farmers Market

$23.21

-3.82 (-14.13%)

ASRT

Assertio Therapeutics

$4.84

-0.37 (-7.10%)

  • 30

    Nov

  • 03

    Dec

  • 04

    Dec

CREE Cree
$43.51

-2.45 (-5.33%)

11/30/18
JPMS
11/30/18
DOWNGRADE
Target $35
JPMS
Underweight
Cree downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Paul Coster downgraded Cree to Underweight with an unchanged price target of $35. The analyst cites valuation for the downgrade following the recent rally in the shares.
11/12/18
BMOC
11/12/18
INITIATION
BMOC
Outperform
Cree initiated with an Outperform at BMO Capital
BMO Capital analyst Ambrish Srivastava initiated Cree with an Outperform rating.
11/13/18
BMOC
11/13/18
INITIATION
Target $55
BMOC
Outperform
Cree initiated with an Outperform at BMO Capital
As reported earlier, BMO Capital analyst Ambrish Srivastava initiated Cree with an Outperform rating and a price target of $55. The analyst says the stock represents an "investment idea" based on its unique capability and disruption potential in the "wide bandgap semiconductors via its Wolfspeed division", adding that it may also be a potential acquisition candidate in spite of the slowdown in M&A activity in the semis. Srivastava further contends that Cree stands to benefit from demand in markets ranging from Electric Vehicles to 5G connectivity.
11/13/18
11/13/18
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. Aerie Pharmaceuticals (AERI) initiated with an Outperform at Oppenheimer. 2. SolarWinds (SWI) initiated with a Buy at Nomura Instinet, SunTrust, Citi, and Goldman Sachs, an Outperform at RBC Capital, Baird, Credit Suisse, JMP Securities, and Evercore ISI, an Overweight at JPMorgan, an Equal Weight at Morgan Stanley and Barclays, as well as a Sector Weight at KeyBanc. 3. PhaseBio (PHAS) initiated with a Buy at Needham. 4. LogicBio Therapeutics (LOGC) initiated with an Overweight at Barclays, a Buy at Chardan, and an Outperform at William Blair. 5. Cree (CREE) initiated with an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
GS Goldman Sachs
$189.96

-4.89 (-2.51%)

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.
11/30/18
BOFA
11/30/18
DOWNGRADE
Target $225
BOFA
Neutral
Goldman Sachs downgraded to Neutral from Buy at BofA/Merrill
BofA Merrill Lynch analyst Michael Carrier downgraded Goldman Sachs to Neutral from Buy and also removed the stock from the firm's US 1 List, stating that the uncertainty around the 1MDB investigation could limit the stock's upside potential if markets stabilize. While he doesn't expect the matter to have a long-term impact on the business, Carrier does note that the timing of the investigation is unknown and it may take some time to be resolved. Based on disclosure thus far, he views the more likely outcome as a fine/settlement, though "it is impossible to know the outcome of the matter," Carrier concluded. He lowered his price target on Goldman shares to $225 from $280.
11/21/18
11/21/18
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. 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.
11/21/18
MSCO
11/21/18
DOWNGRADE
MSCO
Equal Weight
Goldman Sachs downgraded to Equal Weight from Overweight at Morgan Stanley
DNR Denbury Resources
$2.16

-0.16 (-6.90%)

10/02/18
OPCO
10/02/18
INITIATION
OPCO
Outperform
Denbury Resources initiated with an Outperform at Oppenheimer
Oppenheimer analyst Tim Rezvan initiated Denbury Resources with an Outperform rating and $9 price target.
11/30/18
OPCO
11/30/18
DOWNGRADE
OPCO
Perform
Denbury Resources downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Tim Rezvan downgraded Denbury Resources (DNR) to Perform from Outperform and removed his $9 price target. In a research note to investors, Rezvan says he lacks the confidence Denbury will get enough votes to close the acquisition of Penn Virginia (PVAC) and sees an increased risk of "strategic limbo" should the deal fall through. Uncertainty on the acquisition is likely to keep DNR shares range-bound, he says.
10/30/18
IMPC
10/30/18
NO CHANGE
Target $4
IMPC
In-Line
Denbury Resources price target lowered to $4 from $6 at Imperial Capital
Imperial Capital analyst Jason Wangler lowered his price target for Denbury Resources (DNR) to $4 following the company's acquisition of Penn Virginia (PVAC). The acquisition helps Denbury continue to reduce financial leverage while maintaining free cash flow focus and providing short-cycle production growth opportunities, Wangler tells investors in a research note. He keeps an In-Line rating on the shares.
08/15/18
JRCO
08/15/18
UPGRADE
JRCO
Accumulate
Denbury Resources upgraded to Accumulate from Hold at Johnson Rice
SFM Sprouts Farmers Market
$23.21

-3.82 (-14.13%)

11/16/18
BERN
11/16/18
INITIATION
Target $23
BERN
Underperform
Sprouts Farmers Market initiated with an Underperform at Bernstein
Bernstein initiated Sprouts Farmers Market with an Underperform and $23 price target.
11/16/18
11/16/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Adobe (ADBE) initiated with a Buy at Nomura Instinet. 2. Target (TGT) was initiated with a Buy at Buckingham and an Overweight at KeyBanc. 3. Viad (VVI) initiated with a Buy at Janney Montgomery Scott. 4. Selective Insurance (SIGI) initiated with a Market Perform at JMP Securities. 5. Sprouts Farmers Market (SFM) initiated with an Underperform at Bernstein. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/30/18
LOOP
11/30/18
NO CHANGE
Target $29
LOOP
Hold
CEO departure at Sprouts Farmers Market not a sign of problem, says Loop Capital
Loop Capital analyst Andrew Wolf kept his Hold rating and $29 price target on Sprouts Farmers Market after its announcement that CEO Amin Maredia is stepping down at the end of the year. While the news was "abrupt", the analyst notes that his conversations with the company's management indicates that its positive outlook "should remain intact". Wolf also contends that Sprouts' relative valuation is "reasonable" based on its fundamental growth outlook, even though the stock is the "highest valued member" of his Food Retail group.
11/30/18
BOFA
11/30/18
DOWNGRADE
BOFA
Underperform
Sprouts Farmers Market downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Robert Ohems downgraded Sprouts Farmers Market to Underperform from Buy and cut its price target to $21 from $35 following CEO Amin Maredla's plans to leave the company. Ohems believes Maredla is leaving to pursue other interests, but said the transition comes at a difficult time given expectations Q4 and 1H 2019 are already expected to be challenging. The analyst expects Q4 margin headwinds from increased investments in technology, training and wages, which should persist into 1H 2019. Further, Ohems sees risk to the company's same-store-sales outlook due to produce deflation and lower comp contribution from new stores.
ASRT Assertio Therapeutics
$4.84

-0.37 (-7.10%)

11/30/18
MZHO
11/30/18
DOWNGRADE
Target $7
MZHO
Neutral
Assertio Therapeutics downgraded to Neutral from Buy at Mizuho
Mizuho analyst Irina Koffler downgraded Assertio Therapeutics to Neutral and lowered her price target for the shares to $7 from $9. While the amended Nucynta royalty agreement with Collegium removes an overhang on the stock, the stock's one-year upside is limited, Koffler tells investors in a research note. The analyst reduced EBITDA estimates by an average of 15% from 2018-2026 due to lower Nucynta royalties and a more conservative outlook on Assertio's neurology portfolio.
08/29/18
JANY
08/29/18
DOWNGRADE
JANY
Neutral
Assertio Therapeutics downgraded to Neutral from Buy at Janney Montgomery Scott

TODAY'S FREE FLY STORIES

SBUX

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EH

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$0.00

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CTST

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PTVCA

Protective Insurance

$15.36

(0.00%)

10:36
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ADSK

Autodesk

$178.55

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BILL

Bill.com

$0.00

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Breaking Syndicate news story on Bill.com »

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USO

United States Oil Fund

$12.45

0.16 (1.30%)

10:34
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10:34
General news
EIA natural gas storage change for week ending December 6 »

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PTVCA

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$15.36

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Breaking Hot Stocks news story on Protective Insurance »

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KRUS

Kura Sushi

$25.45

0.32 (1.27%)

10:31
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BILL

Bill.com

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  • 12

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ZYME

Zymeworks

$42.45

0.3 (0.71%)

, AZN

AstraZeneca

$48.38

0.19 (0.39%)

10:26
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WCN

Waste Connections

$90.12

-0.03 (-0.03%)

10:25
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Waste Connections participates in a conference call with UBS »

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$31.00

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ALG

Alamo Group

$116.31

-0.1 (-0.09%)

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$NSD

NASDAQ Market Internals

$0.00

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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Technical Analysis
NYSE market internals summary »

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MG

Mistras

$13.96

0.12 (0.87%)

10:15
12/12/19
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10:15
Conference/Events
Mistras management to meet with Sidoti »

Meeting to be held in the…

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  • 17

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PPL

PPL Corp.

$33.93

0.17 (0.50%)

10:15
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PPL Corp. put volume heavy and directionally bearish »

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10:15
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General news
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SPX

S&P 500

$0.00

(0.00%)

, SPY

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$316.72

2.305 (0.73%)

10:14
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SPX

S&P 500

$0.00

(0.00%)

SPY

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$316.72

2.305 (0.73%)

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DL

China Distance Education

$8.05

(0.00%)

10:10
12/12/19
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Conference/Events
China Distance Education management to meet with Sidoti »

Meetings to be held in…

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