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SBUX

Starbucks

$64.18

0.32 (0.50%)

, AAPL

Apple

$153.78

0.48 (0.31%)

05:26
01/11/19
01/11
05:26
01/11/19
05:26

Starbucks downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Karen Holthouse downgraded Starbucks to Neutral and lowered her price target for the shares to $68 from $75. The coffee giant closed yesterday up 31c to $64.19. The analyst remains "reasonably confident" that Starbucks' initiatives to drive digital engagement can lead to a "more stable" 3%-4% comp trajectory in the U.S. over the next few years. However, its valuation has "rapidly re-rated" to reflect this, and gift cards and digital trends could be points of caution in fiscal Q1, Holthouse tells investors in a research note. Further, she has "incremental concerns" regarding the China macro environment and the company's comp trajectory in that region. Other consumer companies, like Apple (AAPL) and McDonald's (MCD), have noted weakness in China, the analyst points out. Holthouse this morning also upgraded Texas Roadhouse (TXRH) to Buy from Neutral and downgraded Yum! Brands (YUM) to Sell from Neutral.

SBUX

Starbucks

$64.18

0.32 (0.50%)

AAPL

Apple

$153.78

0.48 (0.31%)

MCD

McDonald's

$181.56

1.16 (0.64%)

TXRH

Texas Roadhouse

$64.36

1.28 (2.03%)

YUM

Yum! Brands

$91.79

0.63 (0.69%)

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SBUX Starbucks
$64.18

0.32 (0.50%)

12/19/18
JPMS
12/19/18
NO CHANGE
Target $70
JPMS
Overweight
JPMorgan likes shares of Starbucks at current levels
JPMorgan analyst John Ivankoe says he likes shares of Starbucks at current levels after taking a group of investors to the company's Seattle headquarters. Improved visibility into U.S. comp improvement, driven by various sales-driving initiatives along with 6%-7% global unit growth, will allow Starbucks to sustain a premium multiple, Ivankoe tells investors in a research note. He keeps an Overweight rating on the shares with a $70 price target.
12/14/18
BMOC
12/14/18
NO CHANGE
Target $63
BMOC
Market Perform
Starbucks price target raised to $63 from $58 at BMO Capital
BMO Capital analyst Andrew Strelzik raised his price target on Starbucks to $63 after its Investor Day presentation. The analyst notes that the company's "lowering of long-term algorithm may have caught the market by surprise", but his takeaway from the event is "incrementally positive" based on the CEO commentary around comps estimates and slowing net store openings reducing "cannibalization concerns". Strelzik keeps his Market Perform rating on Starbucks however, stating that its valuation is "too expensive" to get more constructive.
12/14/18
RBCM
12/14/18
NO CHANGE
Target $74
RBCM
Outperform
Starbucks price target raised to $74 from $68 at RBC Capital
RBC Capital analyst David Palmer raised his price target on Starbucks to $74 and kept his Outperform rating, saying that its Investor Day presentation yesterday gave him more confidence in the company's comps trajectory. The analyst contends that Starbucks represents a "unique" blend of mid-single-digit unit growth and "best-in-class return on investment" that is further reinforced by its "digital capabilities, exposure to the growing specialty coffee segment, and a strong brand image."
12/14/18
MSCO
12/14/18
NO CHANGE
Target $64
MSCO
Equal Weight
Starbucks EPS view reset surprising but may be conservative, says Morgan Stanley
Morgan Stanley analyst John Glass said Starbucks' reset of its long-term EPS growth forecast to 10% from 12% was surprising, but may ultimately prove conservative. The real difference between the prior 12% EPS goal and the current 10% one is reduced margin expansion, which acknowledges labor and reinvestment headwinds that would offset sales leverage if comps hit the upper end of the range, Glass said. He added that the company's tone on the current business was optimistic and delivery adds another comparable sales driver in the U.S. Glass maintains an Equal Weight rating on Starbucks shares with a $64 price target.
AAPL Apple
$153.78

0.48 (0.31%)

01/10/19
01/10/19
UPGRADE
Target $72

Buy
Qorvo upgraded to Buy at Craig-Hallum as shares 'have likely bottomed'
As previously reported, Craig-Hallum analyst Anthony Stoss upgraded Qorvo (QRVO) to Buy from Hold as he believes the share decline now positions the stock with more upside than downside, and shares now largely reflect weaker Apple (AAPL) iPhone sales. The analyst argues that investors should start looking forward to substantial content increases for RF in 5G phones, although he does not expect material volumes until 2020. He also lowered his price target on Qorvo's shares to $72 from $74.
01/10/19
CHLM
01/10/19
NO CHANGE
Target $25
CHLM
Buy
ON Semiconductor risk/reward 'hard to ignore,' says Craig-Hallum
Craig-Hallum analyst Anthony Stoss notes that ON Semiconductor (ON) has not been spared in the recent selloff in semi/Apple (AAPL) suppliers. However, at just under 9 times FY2019 EPS the risk/reward is "hard to ignore," he contends. Stoss believes that content gains in auto and 5G base station builds will keep ON outperforming. He reiterates a Buy rating and $25 price target on ON's shares.
01/10/19
LOOP
01/10/19
NO CHANGE
Target $92
LOOP
Buy
Skyworks price target lowered to $92 from $102 at Loop Capital
Loop Capital analyst Cody Acree lowered his price target on Skyworks (SWKS) to $92 after the company cut its Q1 earnings guidance that also followed a negative pre-announcement from Apple (AAPL). The analyst keeps his Buy rating on the stock however, stating that he was most impressed with the 4% rise in its price in spite of the guidance cut, which he believes suggests that the broad sell-off in the chip industry is a "solid indication" of the sector being oversold. Acree adds that the headwinds from tax-loss selling and portfolio rebalancing should be largely in the past, and expects the constructive U.S.-China trade talks to bring back investors looking for "strong fundamentals".
01/10/19
CHLM
01/10/19
NO CHANGE
Target $90
CHLM
Buy
Skyworks price target lowered to $90 from $$105 at Craig-Hallum
Craig-Hallum analyst Anthony Stoss lowered his price target for Skyworks (SWKS) to $90 from $105 to account for the company's lowered December quarter guidance. The analyst attributes Skyworks' lowered guide to weakness at Apple (AAPL), which he believes was already expected and priced into the stock. Stoss thinks investors will turn their focus to Skyworks' upcoming 5G opportunity. He reiterates a Buy rating on Skyworks shares
MCD McDonald's
$181.56

1.16 (0.64%)

01/10/19
ARGS
01/10/19
NO CHANGE
Target $210
ARGS
Buy
McDonald's to benefit from new promotional offers, says Argus
Argus analyst John Staszak kept his Buy rating and $210 price target on McDonald's, saying the company is expected to "benefit from the launch of new promotional offers, store renovations, and the increased use of its mobile order-and-pay system." The analyst also cites the appeal of the 2.6% dividend yield on the stock along with the company's history of annual dividend increases. Staszak contends that a valuation multiple higher than the current 21.1-times forward earnings is warranted by McDonald's menu and store renovation initiatives.
12/14/18
JPMS
12/14/18
NO CHANGE
Target $182
JPMS
Overweight
JPMorgan calls McDonald's, Yum! Brands 'safe to own' stocks
JPMorgan analyst John Ivankoe believes McDonald's (MCD) and Yum! Brands (YUM) are "safe to own" stocks with continued outperformance expected in a down market. However, for absolute performance, the analyst believes the shares should be bought at lower prices. He keeps an Overweight rating on both names and ticked up his price target for McDonald's to $182 from $180 and for Yum! to $91 from $90.
11/29/18
MSCO
11/29/18
UPGRADE
Target $210
MSCO
Overweight
McDonald's upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst John Glass upgraded McDonald's to Overweight from Equal Weight and raised his price target for the shares to $210 from $173. The analyst expects the benefits from the company's U.S. store remodeling to become apparent in 2019. McDonald's modernization efforts should produce "best-in-class" sales results for years to come, Glass tells investors in a research note. He believes the market may be underestimating the remodeling benefits and thinks the company's free cash flow is positioned to accelerate in 2020 and 2021 as remodeling costs wind down.
11/29/18
11/29/18
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. McDonald's (MCD) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst John Glass saying he expects the benefits from the company's U.S. store remodeling to become apparent in 2019. 2. TJX (TJX) upgraded to Buy from Hold at Argus with analyst Chris Graja saying the rating change is driven by the pullback in the stock price given the company's growing store traffic, single-A credit ratings, and a 22% annualized dividend growth. 3. Ryder (R) upgraded to Buy from Hold at Stifel with analyst David Ross saying approaching 2019, the stock's upside/downside case is now in investors' favor. 4. Dominion (D) upgraded to Buy from Neutral at UBS with analyst Daniel Ford saying management has taken "appropriate and necessary" actions to overcome the negative impact of the surprise master limited partnership income tax ruling that the Federal Energy Regulatory Commission issued earlier this year. 5. PPG (PPG) upgraded to Buy from Neutral at Citi analyst P.J. Juvekar saying "rapidly falling" oil prices are poised to reduce some of the raw material inflation pressuring the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TXRH Texas Roadhouse
$64.36

1.28 (2.03%)

10/25/18
MAXM
10/25/18
NO CHANGE
Target $72
MAXM
Hold
Texas Roadhouse price target raised to $72 from $67 at Maxim
Maxim analyst Stephen Anderson raised his price target on Texas Roadhouse to $72 ahead of its Q3 results, saying his estimate of 57c EPS and 4.6% blended comps is above the 54c and 4.3% consensus. The analyst also keeps his Hold rating, noting that while he anticipates margin upside in 2019, moderating cattle supply should see margins level off in 2020.
10/30/18
RBCM
10/30/18
NO CHANGE
Target $66
RBCM
Outperform
Texas Roadhouse price target lowered to $66 from $74 at RBC Capital
RBC Capital analyst David Palmer lowered his price target on Texas Roadhouse to $66 after its Q3 earnings miss, saying the company's labor and G&A costs were "surprisingly high" in the quarter. The analyst adds that he now assumes corporate margins will track below 8% for the first time since the financial crisis which he considers "surprising" because of the assumption of pricing power from "years of uninterrupted traffic growth". Palmer also keeps his Outperform rating longer term, anticipating Texas Roadhouse to take measures that bring margins back to the historical average of about 18%.
10/30/18
MAXM
10/30/18
NO CHANGE
Target $66
MAXM
Hold
Texas Roadhouse price target lowered to $66 from $72 at Maxim
Maxim analyst Stephen Anderson lowered his price target on Texas Roadhouse to $66 and kept his Hold rating after its "mixed" Q3 earnings. The analyst notes that the EPS miss was driven by 12c in "cumulative one-time insurance costs and SG&A expenses", even though the positive comps of 5.3% topped the 4.3% consensus mean. Anderson also anticipates that insurance costs will remain an issue for 1-2 quarters.
01/11/19
GSCO
01/11/19
UPGRADE
Target $72
GSCO
Buy
Texas Roadhouse upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Karen Holthouse upgraded Texas Roadhouse to Buy and raised her price target for the shares to $72 from $64. The analyst has incremental optimism on the lower end consumer and notes the company has limited exposure to restaurant economics in higher wage geographies. Further, she sees room for Texas Roadhouse to take incremental price, driving a more favorable view of labor costs versus consensus. And though elevated, the stock's valuation has at least pulled back from prior peaks versus the market and the peer group, Holthouse tells investors in a research note.
YUM Yum! Brands
$91.79

0.63 (0.69%)

11/29/18
OPCO
11/29/18
NO CHANGE
Target $100
OPCO
Outperform
Yum! Brands price target raised to $100 form $95 at Oppenheimer
Oppenheimer analyst Brian Bittner raised his price target for Yum! Brands (YUM) to $100 from $95 ahead of Investor Day. With its post-spin transformation complete, the analyst's work suggests Yum! Brands is well-positioned to deliver 2019 EPS guidance that supports its original $3.75-plus target, communicate a healthy long-term financial algorithm including high-single-digit EBIT and low double-digit EPS, and return up to $2B to shareholders' annually or potentially pursue a strategic acquisition such as Wendy's (WEN). Bittner reiterates an Outperform rating on the shares.
11/30/18
LBOW
11/30/18
NO CHANGE
Target $325
LBOW
Buy
Pizza Hut $5 offer not having impact on Domino's, says Longbow
Longbow analyst Alton Stump said that his checks with U.S. Domino's Pizza (DPZ) franchisees lead him to believe domestic franchised same-store sales are up 7.5%-8% quarter-to-date in Q4, which he notes is just above the consensus forecast of 7.4% growth for Q4. The franchisees he contacted said they have not seen any noticeable impact from Pizza Hut's (YUM) mid-October launch of its new $5 value platform, Stump noted. He keeps a Buy rating on Domino's shares with a $325 price target.
01/11/19
GSCO
01/11/19
DOWNGRADE
Target $76
GSCO
Sell
Yum! Brands downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Karen Holthouse downgraded Yum! Brands to Sell and lowered her price target for the shares to $76 from $83. The company's "peak valuations versus the market" are "overly dismissive of a number of risks," Holthouse tells investors in a research note. The analyst remains skeptical of a U.S. Pizza Hut recovery and has concerns about Taco Bell momentum "as it starts to lap a more aggressive value push that started in late 2017."

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1.77 (1.19%)

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Facebook

$150.01

1.77 (1.19%)

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ENB

Enbridge

$36.10

0.425 (1.19%)

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LIN

Linde plc

$160.76

3.48 (2.21%)

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HENKY

Henkel

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CAG

Conagra Brands

$21.58

0.34 (1.60%)

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UQM

UQM Technologies

$1.10

0.05 (4.76%)

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SNY

Sanofi

$41.50

-0.54 (-1.28%)

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RTN

Raytheon

$165.11

2.285 (1.40%)

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IBCP

Independent Bank

$22.80

-0.11 (-0.48%)

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EDIT

Editas Medicine

$26.16

-0.01 (-0.04%)

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GOOG

Alphabet

$1,098.25

6.96 (0.64%)

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Alphabet Class A

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LAD

Lithia Motors

$87.13

1.57 (1.84%)

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CYDY

CytoDyn

$0.00

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ABT

Abbott

$71.43

0.9 (1.28%)

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SFUN

Fang Holdings

$1.88

-0.01 (-0.53%)

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TS

Tenaris

$24.32

0.64 (2.70%)

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PAAS

Pan American Silver

$14.17

-0.31 (-2.14%)

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CRWS

Crown Crafts

$5.68

(0.00%)

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