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SHLD

Sears

$0.00

(0.00%)

, SPG

Simon Property

$172.97

3.97 (2.35%)

05:58
01/09/19
01/09
05:58
01/09/19
05:58

Many landlords welcome Sears end, WSJ says

While Sears (SHLD) chairman Edward Lampert's attempt to rescue the company will be considered next week, many landlords like Simon Property Group (SPG) and Brixmor Property Group (BRX) said plans to keep Sears open, rather than pursue sales, would incur "substantial expenses, without much expectation of success," the Wall Street Journal reports. Many landlords have lost faith in Lampert, his plans to rescue Sears, and view the brand as outdated, the Journal added, citing analysts. Reference Link

SHLD

Sears

$0.00

(0.00%)

SPG

Simon Property

$172.97

3.97 (2.35%)

BRX

Brixmor

$15.57

0.54 (3.59%)

  • 09

    Jan

  • 12

    Feb

SHLD Sears
$0.00

(0.00%)

10/17/18
FBCO
10/17/18
NO CHANGE
Target $125
FBCO
Outperform
Whirlpool price target lowered to $125 from $175 at Credit Suisse
Credit Suisse analyst Susan Maklari lowered her price target for Whirlpool (WHR) to $125 from $175 to reflect continued pressures from inflation and reduced overhead leverage. While international challenges continue to drag on results, pricing in North America could help provide a necessary offset, she contends. The analyst notes that Sears' (SHLD) Chapter 11 filing should result in few changes in long-term appliance trends, though there could be some near-term choppiness as 142 additional stores are closed and liquidated. Maklari reiterates an Outperform rating on Whirlpool shares.
10/12/18
MSCO
10/12/18
NO CHANGE
Target $1.5
MSCO
Equal Weight
Morgan Stanley sees near-term pressure, long-term gain for Penney if Sears folds
Amid recent headlines regarding Sears (SHLD) adding a restructuring expert and reportedly pursuing a bankruptcy filing, Morgan Stanley analyst Kimberly Greenberger noted that she believes J.C. Penney (JCP) had the highest store overlap with Sears, K-Mart, and Sears Specialty Stores within both a quarter mile and half mile radius. If Sears closes additional stores or engages in liquidation sales, retailers in the close trade areas could experience some short-term pressure, said Greenberger, who added that Sears has already been closing stores for years. In the medium to long-term, she expects J.C. Penney and other retailers in the respective trade areas to potentially benefit from these closures. Greenberger, who views Penney's near-term debt maturities as "manageable," keeps an Equal Weight rating and $1.50 price target on the shares.
10/12/18
MKMP
10/12/18
NO CHANGE
Target $31
MKMP
Neutral
L Brands visibility remains low despite better Sept comps, says MKM Partners
MKM Partners analyst Roxanne Meyer kept her Neutral rating and $31 price target on L Brands (LB), saying that while the company reported better than expected same store sales in September and its Victoria's Secret brand comps turned positive, its visibility remains low. The analyst lists potential catalysts for L Brands being a "strong performance of pajamas in Q4 and the reintroduction of swimwear" at VS, but also points to her "newest concern" being the likelihood of a Sears (SHLD) liquidation, which would then reduce traffic at malls where the company also has retail presence.
10/16/18
LOOP
10/16/18
NO CHANGE
Target $88
LOOP
Buy
Best Buy to be major beneficiary of likely Sears liquidation, says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Buy rating and $88 price target on Best Buy (BBY) after Sears Holdings (SHLD) declared bankruptcy over the weekend, saying it should be a "major beneficiary" from the latter's eventual "likely" liquidation. The analyst estimates the liquidation could add as much as 47c or 8.5% accretion to Best Buy FY19 EPS, with the company picking up a "fair share" on the consumer electronics side of the business as the "last man standing" in terms of dedicated national brick-and-mortar retailers.
SPG Simon Property
$172.97

3.97 (2.35%)

10/05/18
JPMS
10/05/18
UPGRADE
Target $198
JPMS
Overweight
Simon Property upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Anthony Paolone upgraded Simon Property Group to Overweight with an unchanged price target of $198. The analyst views the shares as "cheap" on an absolute and relative basis compared to other REITs. Further, he believes Simon has a "good runway" to generate growth over the near-to-intermediate term.
08/21/18
RBCM
08/21/18
NO CHANGE
Target $183
RBCM
Sector Perform
Simon Property price target raised to $183 from $170 at RBC Capital
RBC Capital analyst Wes Golladay raised his price target on Simon Property to $183, saying the REIT is well positioned with a strong management team and a healthy balance sheet. The analyst adds that opportunistic investments position the company well relative to its mall peers. Golladay also believes that the stock price is "fairly valued" at current levels, keeping his Sector Perform rating and adding that Simon Property's same-store net operating income growth remains "soft".
10/09/18
ARGS
10/09/18
NO CHANGE
Target $200
ARGS
Buy
Simon Property price target raised to $200 from $195 at Argus
Argus analyst Jacob Kilstein raised his price target on Simon Property (SPG) to $200 and kept his Buy rating, citing the potential from higher earnings as the company looks to transform its "department store anchor tenants" into more profitable retailers to match the rent paid by its smaller "non-anchor" stores and restaurants. The analyst is also positive on the company's "profitable co-ownership investment in Aeropostale (AROPQ) and the indicated openness by its CEO to close similar "unusual" deals. Kilstein raises his FY18 FFO view on Simon Property by 2c to $12.09, adding that its 14.3-times forward FFO valuation is near the low end of its historical range of 12.3-20.9-times.
10/16/18
SCOT
10/16/18
INITIATION
Target $177
SCOT
Sector Perform
Simon Property initiated with a Sector Perform at Scotiabank
Scotiabank analyst Nicholas Yulico initiated Simon Property with a Sector Perform and $177 price target.
BRX Brixmor
$15.57

0.54 (3.59%)

12/19/18
JPMS
12/19/18
DOWNGRADE
Target $17.5
JPMS
Neutral
Brixmor downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anthony Paolone downgraded Brixmor Property Group to Neutral and lowered his price target for the shares to $17.50 from $19. While the analyst sees the stock as attractively valued, he believes its near-term FFO growth "should be fairly muted" as a result of heavy recent disposition activity.
10/29/18
KEYB
10/29/18
UPGRADE
KEYB
Overweight
Brixmor upgraded to Overweight from Sector Weight at KeyBanc
10/16/18
SCOT
10/16/18
INITIATION
Target $18
SCOT
Outperform
Brixmor initiated with an Outperform at Scotiabank
Scotiabank analyst Nicholas Yulico initiated Brixmor with an Outperform and $18 price target.
08/21/18
08/21/18
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. Tesla (TSLA) downgraded to Equal Weight from Overweight at Consumer Edge with the firm saying SEC issues and news headlines will leave shares "boxed-in" near-term. 2. HP Enterprise (HPE) downgraded to Market Perform from Outperform at Bernstein with analyst A.M. Sacconaghi, Jr. saying despite a robust IT spending environment, he does not see upside to near-term expectations, given tough comparisons, continuing share losses in servers, a headwind from currency, an expected higher tax rate, and lower other income. 3. Fabrinet (FN) downgraded to Buy from Strong Buy at Needham with analyst Alex Henderson citing valuation. 4. Hudson Pacific (HPP) downgraded to Neutral from Outperform at Baird with analyst David Rodgers saying he sees downside risk in consensus estimates during both 2019 and 2020 and as a result, he believes it will be difficult to outperform. 5. Brixmor (BRX) downgraded to Neutral from Buy at Mizuho with analyst Haendel St. Juste citing share strength since mid-February and the near-term dilutive impact of the company's strategy shift to ramp up 2018 dispositions to capitalize on better than expected asset pricing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

TCDA

Tricida

$23.11

0.84 (3.77%)

11:46
02/22/19
02/22
11:46
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11:46
Initiation
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UPS

UPS

$109.87

-1.89 (-1.69%)

11:45
02/22/19
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Options
UPS call volume above normal and directionally bullish »

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  • 03

    Mar

11:45
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General news
More from Williams: the Phillips Curve needs to be taken seriously »

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OCUL

Ocular Therapeutix

$4.22

0.61 (16.90%)

11:37
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02/22
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11:37
Hot Stocks
Ocular Therapeutix higher after pricing $37.5M in convertible notes »

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11:35
02/22/19
02/22
11:35
02/22/19
11:35
General news
The Fed's Monetary Policy Report »

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AXNX

Axonics

$21.65

-0.85 (-3.78%)

11:33
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Axonics granted expanded CE mark label approval for Axonics r-SNM System »

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  • 05

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    Mar

EA

Electronic Arts

$95.01

-1.825 (-1.88%)

11:30
02/22/19
02/22
11:30
02/22/19
11:30
Options
Buyer pays $3.3M for EA upside calls as shares drop 2% »

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  • 25

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VLKAY

Volkswagen

$0.00

(0.00%)

11:27
02/22/19
02/22
11:27
02/22/19
11:27
Periodicals
VW CEO says he hopes company did enough 'to avoid import taxes', CNBC reports »

Volkswagen CEO Herbert…

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AMRN

Amarin

$19.10

1.68 (9.64%)

11:25
02/22/19
02/22
11:25
02/22/19
11:25
Options
Amarin call volume above normal and directionally bullish »

Bullish option flow…

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  • 27

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MDT

Medtronic

$93.25

0.65 (0.70%)

11:25
02/22/19
02/22
11:25
02/22/19
11:25
Conference/Events
Medtronic participates in a conference call with JPMorgan »

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03/08/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
02/22/19
02/22
11:17
02/22/19
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
02/22/19
02/22
11:16
02/22/19
11:16
Technical Analysis
NYSE market internals summary »

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11:15
02/22/19
02/22
11:15
02/22/19
11:15
General news
Fed's Daly said the Fed should aim to hit the 2% inflation target on average »

Fed's Daly said the…

TOT

Total

$56.80

0.74 (1.32%)

11:11
02/22/19
02/22
11:11
02/22/19
11:11
Periodicals
Total cancels sale of Dutch North Sea gas fields, Bloomberg reports »

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  • 27

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CZR

Caesars

$9.01

-0.41 (-4.35%)

11:10
02/22/19
02/22
11:10
02/22/19
11:10
Options
Post-earnings put roll in Caesars adjusts yesterday's big spread »

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TSLA

Tesla

$294.87

3.69 (1.27%)

, MS

Morgan Stanley

$41.91

-0.05 (-0.12%)

11:07
02/22/19
02/22
11:07
02/22/19
11:07
Periodicals
Tesla CEO looks to Morgan Stanley for five major mortgages, Bloomberg reports »

Tesla (TSLA) CEO Elon…

TSLA

Tesla

$294.87

3.69 (1.27%)

MS

Morgan Stanley

$41.91

-0.05 (-0.12%)

03/08/13
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03/08/13
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03/06/13
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  • 22

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BDRBF

Bombardier

$0.00

(0.00%)

11:05
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11:05
Hot Stocks
Bombardier to invest $22M in two aerospace research projects in Quebec »

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ZG

Zillow

$40.94

5.87 (16.74%)

, Z

Zillow

$41.12

6.09 (17.39%)

11:03
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Hot Stocks
Zillow adds to gain as Citron sets $70 target, turns positive after CEO change »

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ZG

Zillow

$40.94

5.87 (16.74%)

Z

Zillow

$41.12

6.09 (17.39%)

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BECN

Beacon Roofing

$37.50

0.13 (0.35%)

11:02
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Hot Stocks
Beacon Roofing announces departure of CEO Paul Isabella later this year »

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  • 27

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C

Citi

$64.03

-0.28 (-0.44%)

11:00
02/22/19
02/22
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11:00
Options
Active trading in Citigroup short-term puts »

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  • 22

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ZG

Zillow

$40.54

5.47 (15.60%)

, Z

Zillow

$40.94

5.91 (16.87%)

10:57
02/22/19
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02/22/19
10:57
Periodicals
Citron says now positive on Zillow, calls returning CEO a 'stud' »

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ZG

Zillow

$40.54

5.47 (15.60%)

Z

Zillow

$40.94

5.91 (16.87%)

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ZG

Zillow

$40.54

5.47 (15.60%)

, Z

Zillow

$40.94

5.91 (16.87%)

10:57
02/22/19
02/22
10:57
02/22/19
10:57
Periodicals
Breaking Periodicals news story on Zillow, Zillow »

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ZG

Zillow

$40.54

5.47 (15.60%)

Z

Zillow

$40.94

5.91 (16.87%)

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PFE

Pfizer

$43.02

0.88 (2.09%)

10:55
02/22/19
02/22
10:55
02/22/19
10:55
Periodicals
Pfizer exec to host presidential fundraiser for Gillibrand campaign, CNBC says »

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  • 22

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PLNT

Planet Fitness

$59.40

1.14 (1.96%)

10:50
02/22/19
02/22
10:50
02/22/19
10:50
Options
Earnings hedge opened in Planet Fitness »

Earnings hedge opened in…

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  • 26

    Feb

FDX

FedEx

$178.46

-3.82 (-2.10%)

, AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

10:44
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On The Fly
Stamps.com plummets after announcing discontinuation of USPS partnership »

Shares of Stamps.com…

FDX

FedEx

$178.46

-3.82 (-2.10%)

AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

STMP

Stamps.com

$84.82

-113.26 (-57.18%)

UPS

UPS

$109.32

-2.44 (-2.18%)

03/08/13
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