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AMZN

Amazon.com

$1,655.83

26.83 (1.65%)

, WMT

Walmart

$95.15

0.61 (0.65%)

08:46
01/09/19
01/09
08:46
01/09/19
08:46

Morgan Stanley says Amazon may be near ceiling with current apparel offering

Morgan Stanley analyst Kimberly Greenberger reports that the firm's apparel survey showed that 72% of consumers purchased apparel on Amazon (AMZN) in the past 6 months, up from 69% last year. While this suggests Amazon continues to take apparel market share, the fact that the figure had jumped by 11% from 2016 to 2017 shows its gains may have slowed, said Greenberger, who noted that survey data and analysis suggest this may be due to Amazon seeing less success in fashion apparel versus its traction in apparel basics. Amazon ranked third lowest in terms of perception of offering "fashionable" clothing out of the more than 30 retailers surveyed, with only Walmart (WMT) and Costco (COST) ranked lower, noted Greenberger, who believes a lack of fashion success does not preclude Amazon from becoming the number one apparel market share player but could limit its long-term share gains. The fact that fashion "may be a more difficult code to crack" may also mean that traditional apparel retailers who lead in fashion credibility or low-price can better survive long-term, added the analyst. As previously reported, Greenberger upgraded Urban Outfitters (URBN) to Overweight this morning, in part due to its "fashion authority."

AMZN

Amazon.com

$1,655.83

26.83 (1.65%)

WMT

Walmart

$95.15

0.61 (0.65%)

COST

Costco

$208.42

1.5 (0.72%)

URBN

Urban Outfitters

$32.73

0.23 (0.71%)

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AMZN Amazon.com
$1,655.83

26.83 (1.65%)

01/08/19
JPMS
01/08/19
NO CHANGE
Target $195
JPMS
Overweight
Facebook named a best Internet idea for 2019 at JPMorgan
JPMorgan analyst Doug Anmuth names Facebook (FB) a best idea for 2019 along with Amazon.com (AMZN) and Twitter (TWTR). Facebook experienced significant volatility in 2018 and closed the year down 2%, underperforming Internet peers which were up 7% market cap-weighted and flat on average, Anmuth tells investors in a research note partially titled "We Expect Facebook To Climb The Wall Of Worry." Privacy and data concerns, platform transitions, slowing growth, margin compression, regulation, and "extremely negative" press have all weighed on the stock in recent months, adds the analyst. He believes investor sentiment on Facebook "remains negative here" in early 2019. However, Anmuth thinks the core Facebook business is "stickier than many think." Further, he believes the company's revenue deceleration is manageable and its earnings growth should accelerate into the mid-teens in 2020. Lastly, the stock's valuation is "compelling" at current levels, argues Anmuth. He keeps an Overweight rating on Facebook with a $195 price target. The social media giant closed yesterday up 10c to $138.05.
01/08/19
OPCO
01/08/19
NO CHANGE
Target $170
OPCO
Outperform
VMware price target lowered to $170 from $180 at Oppenheimer
Oppenheimer analyst Ittai Kidron lowered his price target for VMware (VMW) to $170 from $180 to account for its recent $11B dividend. The analyst notes that VMware is one of his top picks for 2019.given a growing number of near-term hybrid-cloud growth levers, early traction of VMC on AWS (AMZN) and its long-term value-creation potential, multiple product upsell opportunities, and the removal of the Dell Technologies (DVMT) overhang. He reiterates an Outperform rating on VMware shares.
01/09/19
PIPR
01/09/19
NO CHANGE
Target $2050
PIPR
Overweight
Survey shows Amazon has large remaining addressable market, says Piper Jaffray
Piper Jaffray analyst Michael Olson says his firm's survey of 1,011 domestic internet users found that Amazon.com (AMZN) "penetration is still gradually increasing." Further, a second survey of 1,505 domestic internet users found that among top e-commerce platforms Amazon retains top share, with Facebook (FB) marketplace also showing good traction and Instagram "in relative shopping infancy," Olson tells investors in a research note. The analyst sees the surveys as a continued positive for Amazon. He believes the company has a large addressable remaining domestic total addressable market of low-use consumers. Holiday spending data would suggest Amazon accounts for only 5% of eMarketer's estimated $1.002 trillion of overall 2018 domestic retail holiday spend, adds the analyst. He reiterates an Overweight rating on Amazon shares with a $2,050 price target. Further, there are favorable takeaways for Facebook from the survey, as the company's e-commerce effort has shown promising early growth, says Olson.
01/09/19
JPMS
01/09/19
NO CHANGE
Target $2100
JPMS
Overweight
Amazon.com named a 2019 best Internet idea at JPMorgan
JPMorgan analyst Doug Anmuth names Amazon.com (AMZN) a best idea for 2019 along with Facebook (FB) and Twitter (TWTR). Amazon shares increased 28% in 2018 but remain well positioned in 2019 as Q1 revenue re-acceleration is likely, Anmuth tells investors in a research note. Further, he sees a "more compelling" valuation following the recent selloff and believes Web Services and advertising will drive 80 basis points of operating margin expansion to 6.0% in 2019. The analyst thinks Amazon will outperform again this year and keeps an Overweight rating on the shares with a $2,100 price target.
WMT Walmart
$95.15

0.61 (0.65%)

12/20/18
BARD
12/20/18
NO CHANGE
Target $2100
BARD
Outperform
Amazon fee changes should improve selection, volume, says Baird
After Amazon (AMZN) announced changes to marketplace referral fees, or take rates, as well as fulfillment and storage fees for fulfillment by Amazon, which will take effect in mid-February, Baird analyst Colin Sebastian says he thinks the fee changes should improve production selection and volume while offsetting higher delivery costs. Sebastian tells investors in a research note that he believes the Amazon Marketplace could be more competitive with traditional retailers such as Walmart (WMT) and Target (TGT), which currently sell significant volumes of consumables, and with online vertical sites such as Wayfair (W) in the Furniture/Home Decor category. He maintains an Outperform rating and $2,100 price target on Amazon shares.
11/26/18
WEDB
11/26/18
NO CHANGE
WEDB
Sony appeared to be video game hardware winner on Black Friday, says Wedbush
Wedbush analyst Michael Pachter notes that each of the four game retailers he tracked, namely Best Buy (BBY), GameStop (GME), Target (TGT) and Walmart (WMT) offered the Marvel's Spider-Man PlayStation 4 Bundle that included a slim PS4 with a 1TB hard drive and Sony's (SNE) Marvel's Spider-Man for $199.99, as well as the Microsoft's (MSFT) Xbox One S Minecraft Creators Bundle that included an Xbox One S with a 1TB hard drive, a Minecraft full game download, the Starter Pack, the Creators Pack, and 1,000 Minecoins for $199.99. Nintendo's (NTDOY) primary hardware offering was less compelling given that it was priced at the console's standard MSRP, he adds. The only sell-out that the analyst saw over Black Friday was the primary PS4 deal. Pachter expects the Black Friday deals to eventually translate into permanent price cuts for the base PS4 and Xbox One, possibly by this Christmas.
12/06/18
JMPS
12/06/18
NO CHANGE
Target $2050
JMPS
Outperform
Amazon lead highlighted in holiday shopping survey, says JMP Securities
Following the firm's recent survey of about 250 online shoppers, JMP Securities analyst Ronald Josey said the results of the polling make him incrementally confident in Amazon's (AMZN) ability to continue to take wallet share. The survey showed Amazon is the first shopping destination of 73% of respondents and it also revealed a Prime member base expansion compared to last year, noted Josey. Walmart (WMT), Target (TGT) and eBay (EBAY) were the other most often used e-commerce sites among respondents, the analyst noted. He keeps an Outperform rating and $2,050 price target on Amazon shares.
12/28/18
BARD
12/28/18
NO CHANGE
Target $2100
BARD
Outperform
Baird sees near-term disruption for Amazon from India's new regulations
The Indian government earlier this week announced changes to its foreign direct investment regulations for e-commerce, Baird analyst Colin Sebastian tells investors in a research note. The analyst believes these will at least temporarily slow the growth for Amazon.com (AMZN), Flipkart, which is majority owned by Walmart (WMT), and other foreign-owned marketplaces. However, after speaking with multiple contacts in the India e-commerce industry, Sebastian also believes that these platforms, over time, will adapt, limiting the long-term risk to their leading market positions. For Amazon, the analyst expects some near-term operational challenges as the company unwinds its stakes in some larger sellers, pursues additional sources of product listings, and ends exclusive deals and aggressive product discounting. He believes India will remain a focus for Amazon and keeps an Outperform rating on the shares with a $2,100 price target.
COST Costco
$208.42

1.5 (0.72%)

12/24/18
ARGS
12/24/18
NO CHANGE
Target $245
ARGS
Buy
Costco price target lowered to $245 from $255 at Argus
Argus analyst Chris Graja lowered his price target on Costco (COST) to $245 to reflect the recent market volatility but kept his Buy rating, noting that its valuation of 14-times enterprise value to trailing EBITDA is "attractive" relative to its peers. The analyst maintains his view that the company's "ability to deliver extreme values" is a "key differentiator in the current market environment", adding that its operations suggest that "execution of the business plan remains excellent, with strong traffic and membership renewals." Graja further maintains that while Amazon (AMZN) poses a competitive threat to every retailer, "a lot that Costco does will be difficult for anyone else to match on price and quality."
12/31/18
TIGR
12/31/18
NO CHANGE
TIGR
Costco recent pullback a buying opportunity, says Tigress Financial
Tigress Financial analyst Ivan Feinseth views the recent pullback in shares of Costco Wholesale as a buying opportunity. The company continues to report "strong same-store sales growth exceeding expectations in a very competitive retail environment," Feinseth tells investors in an intraday research note. He reiterates a Buy rating on the shares citing Costco's "dominant" retail position together with its "differentiated and high value-added" shopping experience.
01/02/19
DADA
01/02/19
NO CHANGE
Target $2450
DADA
Buy
DA Davidson sees potential for Amazon to add gas stations to its physical stores
DA Davidson analyst Tom Forte kept his Buy rating and $2,450 price target on Amazon.com (AMZN), saying he is positive on the recent Wall Street Journal speculation that the company plans to open additional Whole Foods stores to support its delivery efforts. The analyst adds that he sees further potential for Amazon to "add gas stations to its physical store portfolio as another means for it to advance" its cashier-less retail strategy, boosting its sales similarly to Costco (COST), where 10% of the top line comes from gas.
01/07/19
BARD
01/07/19
NO CHANGE
BARD
Baird expects 'solid' December sales from Costco
Baird analyst Peter Benedict said he expects "solid December sales to cap off a strong holiday season" for Costco, when the company reports December sales on Wednesday, January 9. The analyst said he expects December core comps of 6%-7%. Benedict reiterated an Outperform rating and $235 price target on Costco shares.
URBN Urban Outfitters
$32.73

0.23 (0.71%)

01/07/19
JPMS
01/07/19
DOWNGRADE
Target $38
JPMS
Neutral
Urban Outfitters downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Matthew Boss downgraded Urban Outfitters to Neutral and lowered his price target for the shares to $38 from $50. The analyst sees a "flattish comp downside scenario neutralizing the risk/reward profile." Following fieldwork he lowered Urban's Q4 same-store-sales estimate to up 4.6%.
01/09/19
01/09/19
UPGRADE
Target $44

Overweight
Morgan Stanley upgrades Urban Outfitters to Overweight on fashion shift
As previously reported, Morgan Stanley analyst Kimberly Greenberger upgraded Urban Outfitters to Overweight from Equal Weight, stating that she would use the 23% pullback since the end of Q3 as an entry point into the stock. The current fashion shift looks to be at an early stage and favors Urban's brands more than its specialty peers, according to Greenberger. Morgan Stanley's recent polling of 2,000 teens and adults to determine apparel purchase drivers and future intentions support Urban's fashion credibility, noted the analyst. Additionally, the fast supply chain bolsters Urban's merchandising strategy and she expects inventory best practices to support merchandise margins at all three of its brands, Greenberger said. She maintains a $44 price target on Urban Outfitters shares.
01/09/19
MSCO
01/09/19
UPGRADE
MSCO
Overweight
Urban Outfitters upgraded to Overweight from Equal Weight at Morgan Stanley
01/07/19
01/07/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Skyworks (SWKS) downgraded to Perform from Outperform at Oppenheimer with analyst Rick Schafer citing the current "semiconductor correction" as well as "continued negative" smartphone news. 2. Snap (SNAP) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying concerns around employee churn are playing out. 3. PNC Financial (PNC) downgraded to Neutral from Buy at Goldman Sachs with analyst Richard Ramsden saying commercial loan growth has fallen 7 percentage points and is likely to track industry growth rates more closely from here. 4. Quarterhill (QTRH) downgraded to Hold from Buy at Canaccord. 5. Urban Outfitters (URBN) downgraded to Neutral from Overweight at JPMorgan with analyst Matthew Boss saying he sees a "flattish comp downside scenario neutralizing the risk/reward profile." 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

SPN

Superior Energy

$4.43

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Service Corp.

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Service Corp.

$45.96

0.56 (1.23%)

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Navient

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SLCA

U.S. Silica

$14.41

-0.005 (-0.03%)

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JBHT

J.B. Hunt

$113.78

1.66 (1.48%)

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CAT

Caterpillar

$136.21

3.575 (2.70%)

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CUB

Cubic

$60.35

2.995 (5.22%)

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HMC

Honda

$27.35

0.04 (0.15%)

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HMC

Honda

$27.35

0.04 (0.15%)

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LUNMF

Lundin Mining

$0.00

(0.00%)

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CVR

Chicago Rivet & Machine

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DGX

Quest Diagnostics

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CUB

Cubic

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CGUSY

Casino Guichard Perrachon

$0.00

(0.00%)

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CPYYY

Centrica

$0.00

(0.00%)

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11:15
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