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ELAN

Elanco

$31.09

-0.67 (-2.11%)

, ZTS

Zoetis

$84.98

0.05 (0.06%)

08:03
12/19/18
12/19
08:03
12/19/18
08:03

Elanco price target lowered to $32 from $37 at BMO Capital

BMO Capital analyst Alex Arfaei lowered his price target on Elanco (ELAN) to $32 and kept his Market Perform rating, saying its FY19 guidance was "modestly below" his expectations and that he doubts that the management is being conservative. The analyst also cites "significant uncertainties" in 2020 related to competitor's products and the company's R&D productivity, also lowering his FY19 EPS view to $1.13 from $1.22. Arfaei believes that the market valuation on Elanco similar to Zoetis (ZTS) is "premature" based on the "important differences in revenue growth potential, product mix, and execution track record" of the two companies.

ELAN

Elanco

$31.09

-0.67 (-2.11%)

ZTS

Zoetis

$84.98

0.05 (0.06%)

  • 21

    Jan

ELAN Elanco
$31.09

-0.67 (-2.11%)

10/16/18
SBSH
10/16/18
INITIATION
Target $37
SBSH
Buy
Elanco initiated with a Buy at Citi (yesterday)
Citi analyst Liav Abraham yesterday initiated coverage of Elanco Animal Health with a Buy rating and $37 price target.
10/15/18
10/15/18
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. CalAmp (CAMP) initiated with a Hold at Jefferies. 2. Eventbrite (EB) initiated with an Outperform at RBC Capital, a Buy at Stifel, a Hold at SunTrust, as well as a Neutral at JPMorgan and Goldman Sachs. 3. X Financial (XYF) initiated with an Equal Weight at Morgan Stanley and a Hold at Deutsche Bank. 4. Bank7 (BSVN) initiated with an Outperform at Keefe Bruyette and an Overweight at Stephens. 5. Elanco (ELAN) initiated with an Outperform at Cowen, an Overweight at JPMorgan, an Equal Weight at Morgan Stanley, as well as a Neutral at Credit Suisse, BofA/Merrill, 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.
10/15/18
COWN
10/15/18
INITIATION
Target $38
COWN
Outperform
Elanco initiated with an Outperform at Cowen
Cowen analyst Steve Scala initiated Elanco with an Outperform rating based on its top-tier position in the animal health market, an improving product portfolio, and early stages of margin improvement driving leveraged earnings growth. Scala has a $38 price target on Elanco shares.
10/15/18
FBCO
10/15/18
INITIATION
Target $36
FBCO
Neutral
Elanco initiated with a Neutral at Credit Suisse
Credit Suisse analyst Erin Wright started Elanco (ELAN) with a Neutral rating and $36 price target. As the fourth-largest animal health therapeutics company, Elanco is highly levered to robust industry fundamentals across livestock and companion animal markets, and earnings growth should accelerate on dedicated innovation efforts and dramatically improving cost structure as a more nimble unencumbered entity, unchained to Eli Lilly (LLY), its large pharmaceutical parent, she contends.
ZTS Zoetis
$84.98

0.05 (0.06%)

11/12/18
BMOC
11/12/18
NO CHANGE
Target $93
BMOC
Market Perform
Zoetis price target raised to $93 from $86 at BMO Capital
BMO Capital analyst Alex Arfaei raised his price target on Zoetis to $93 after its Q3 earnings beat and raised FY18 guidance. The analyst acknowledges that the company's "commercial and R&D execution have been excellent", leading to its premium valuation. Arfaei keeps his Market Perform on Zoetis however, noting that in spite of its performance amid the reasonably high expectations, the company's insufficient pipeline visibility and premium valuation warrant a neutral stance.
10/17/18
CANT
10/17/18
NO CHANGE
Target $105
CANT
Overweight
Zoetis price target raised to $105 from $98 at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen raised her price target on shares of Zoetis to $105 from $98 and maintains an Overweight rating on the stock, telling investors that the "ride keeps getting better."
10/15/18
JPMS
10/15/18
UPGRADE
Target $100
JPMS
Overweight
Zoetis upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Christopher Schott upgraded Zoetis to Overweight and raised his price target for the shares to $100 from $84. The company's above market growth looks "highly sustainable," Schott tells investors in a research note.
10/12/18
CHLM
10/12/18
INITIATION
Target $33
CHLM
Hold
Elanco initiated with a Hold at Craig-Hallum
Craig-Hallum analyst Kevin Ellich initiated Elanco Animal Health (ELAN) with a Hold rating and $33 price target. While Elanco is well positioned to expand gross margin by about 10 percentage points over the next five years which will drive mid-teens operating income growth and Ellich likes the company's focus on pet therapeutics and disease prevention as well as food animal future protein and health, he believes shares are fairly valued trading at ~19x FY20 EV/EBITDA, which is an 8% premium to industry leader Zoetis (ZTS). With shares up 35% from the September 19 IPO price of $24, the analyst tells investors in a research note that he looks to get more positive on pullbacks, improved liquidity as Eli Lilly (LLY) still owns 80% of Elanco stock, and improved visibility on longer-term growth drivers that could lead to upside to his projections.

TODAY'S FREE FLY STORIES

EEFT

Euronet

$143.81

-2.84 (-1.94%)

21:08
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Earnings
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EEFT

Euronet

$143.81

-2.84 (-1.94%)

21:07
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EEFT

Euronet

$143.81

-2.84 (-1.94%)

21:06
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Hot Stocks
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EEFT

Euronet

$143.81

-2.84 (-1.94%)

21:04
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Earnings
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FFWM

First Foundation

$15.50

0.16 (1.04%)

21:03
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Earnings
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KMB

Kimberly-Clark

$129.57

-9.74 (-6.99%)

20:36
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Upgrade
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BA

Boeing

$337.45

6.33 (1.91%)

, TMO

Thermo Fisher

$280.89

-2.56 (-0.90%)

20:25
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Earnings
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BA

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$337.45

6.33 (1.91%)

TMO

Thermo Fisher

$280.89

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LLY

Eli Lilly

$110.00

2.06 (1.91%)

CAT

Caterpillar

$133.69

1.47 (1.11%)

ANTM

Anthem

$260.28

7.12 (2.81%)

BX

Blackstone

$49.08

-0.025 (-0.05%)

BSX

Boston Scientific

$38.21

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GD

General Dynamics

$179.92

4.49 (2.56%)

NSC

Norfolk Southern

$188.85

2.68 (1.44%)

HLT

Hilton

$90.81

-1.57 (-1.70%)

FCX

Freeport McMoRan

$9.92

0.1 (1.02%)

IVZ

Invesco

$16.03

-0.115 (-0.71%)

OC

Owens Corning

$63.41

-0.055 (-0.09%)

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ACRS

Aclaris Therapeutics

$1.62

0.215 (15.36%)

20:13
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Upgrade
Aclaris Therapeutics rating change at SVB Leerink »

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AMGN

Amgen

$204.84

1.93 (0.95%)

19:39
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TRV

Travelers

$130.22

-11.55 (-8.15%)

19:31
10/22/19
10/22
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19:31
Upgrade
Travelers rating change at Deutsche Bank »

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GOOG

Alphabet

$1,242.78

-3.45 (-0.28%)

, GOOGL

Alphabet Class A

$1,241.08

-3.15 (-0.25%)

19:09
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Periodicals
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Alphabet

$1,242.78

-3.45 (-0.28%)

GOOGL

Alphabet Class A

$1,241.08

-3.15 (-0.25%)

FB

Facebook

$182.27

-7.55 (-3.98%)

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CISN

Cision

$10.08

1.63 (19.29%)

19:03
10/22/19
10/22
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19:03
Downgrade
Cision rating change at BMO Capital »

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MANH

Manhattan Associates

$74.47

-2.02 (-2.64%)

, TER

Teradyne

$59.24

-0.83 (-1.38%)

18:55
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$74.47

-2.02 (-2.64%)

TER

Teradyne

$59.24

-0.83 (-1.38%)

CSL

Carlisle

$144.97

-0.27 (-0.19%)

USNA

Usana

$72.62

2.92 (4.19%)

NAVI

Navient

$12.16

0.19 (1.59%)

DFS

Discover

$81.30

0.85 (1.06%)

HNGR

Hanger

$20.50

0.39 (1.94%)

MRNA

Moderna

$15.90

0.42 (2.71%)

REZI

Resideo

$15.17

0.03 (0.20%)

IRBT

iRobot

$53.88

-1.82 (-3.27%)

TXN

Texas Instruments

$128.61

-2.32 (-1.77%)

INTC

Intel

$52.00

-0.12 (-0.23%)

ADI

Analog Devices

$110.91

-0.18 (-0.16%)

AVGO

Broadcom

$287.54

-2.03 (-0.70%)

NVDA

Nvidia

$195.52

-0.64 (-0.33%)

QCOM

Qualcomm

$78.46

-0.5 (-0.63%)

AMD

AMD

$31.51

-0.54 (-1.68%)

HA

Hawaiian Holdings

$30.14

0.67 (2.27%)

SIX

Six Flags

$51.22

-0.62 (-1.20%)

WHR

Whirlpool

$160.72

0.18 (0.11%)

BYD

Boyd Gaming

$26.17

0.24 (0.93%)

CMG

Chipotle

$831.69

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SNAP

Snap

$14.00

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SKX

Skechers

$38.03

0.55 (1.47%)

SLNO

Soleno Therapeutics

$1.50

0.03 (2.04%)

NOW

ServiceNow

$228.26

-12.315 (-5.12%)

NKE

Nike

$95.61

-0.61 (-0.63%)

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IIPR

Innovative Industrial Properties

$72.50

-1.2 (-1.63%)

18:53
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Innovative Industrial Properties investing $46.6M in two IL properties »

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CISN

Cision

$10.08

1.63 (19.29%)

18:51
10/22/19
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18:51
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18:51
Downgrade
Cision rating change at BMO Capital »

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  • 19

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LOGI

Logitech

$39.97

-0.75 (-1.84%)

18:42
10/22/19
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Hot Stocks
Logitech CEO: We had a solid quarter despite macroeconomic noise »

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HAS

Hasbro

$100.00

-20.11 (-16.74%)

18:23
10/22/19
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Hasbro CEO: We believe we can grow in Q4 »

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SPY

SPDR S&P 500 ETF Trust

$299.01

-1.04 (-0.35%)

, SPX

S&P 500

$0.00

(0.00%)

18:22
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General news
Trump tweets 'good news happening' on Turkey, Syria, Middle East »

President Donald Trump…

SPY

SPDR S&P 500 ETF Trust

$299.01

-1.04 (-0.35%)

SPX

S&P 500

$0.00

(0.00%)

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XOM

Exxon Mobil

$69.11

0.37 (0.54%)

18:20
10/22/19
10/22
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18:20
Periodicals
NY AG's office says Exxon should pay up to $1.6B in climate trial, NYP says »

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XOM

Exxon Mobil

$69.11

0.37 (0.54%)

17:58
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17:58
Periodicals
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  • 01

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TER

Teradyne

$59.24

-0.83 (-1.38%)

17:57
10/22/19
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17:57
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17:57
Hot Stocks
Teradyne jumps 6% after quarterly results, guidance based on 5G demand »

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TER

Teradyne

$59.24

-0.83 (-1.38%)

17:53
10/22/19
10/22
17:53
10/22/19
17:53
Earnings
Teradyne sees Q4 EPS 73c-84c, consensus 61c »

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LEVI

Levi Strauss

$17.59

0.58 (3.41%)

17:52
10/22/19
10/22
17:52
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17:52
Hot Stocks
Levi Strauss EVP Love sells 204K shares of common stock »

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BK

BNY Mellon

$46.15

0.48 (1.05%)

, WFC

Wells Fargo

$50.63

0.18 (0.36%)

17:51
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17:51
Periodicals
BNY Mellon vice chairman leaves lender, WSJ says »

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BK

BNY Mellon

$46.15

0.48 (1.05%)

WFC

Wells Fargo

$50.63

0.18 (0.36%)

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FMBI

First Midwest

$20.13

0.11 (0.55%)

17:42
10/22/19
10/22
17:42
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17:42
Earnings
First Midwest reports Q3 adjusted EPS 52c, consensus 49c »

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