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C

Citi

$56.44

0.06 (0.11%)

, ADS

Alliance Data

$167.31

-0.79 (-0.47%)

08:37
01/11/19
01/11
08:37
01/11/19
08:37

Citi, ValueAct Capital enter information sharing, engagement agreement

Citigroup (C) and ValueAct Capital announced that they have entered into an Information Sharing and Engagement Agreement which will formalize and expand on the constructive dialogue between Citi and ValueAct that began in early 2018. The Agreement provides for a deeper level of engagement and collaboration between Citi and ValueAct. It enables ValueAct to have access to confidential information about the company and engage with members of Citi's management team and Board of Directors on areas such as strategy, governance and operational planning matters. The Agreement also provides for ValueAct's support for management and the Board through the term of the Agreement, which lasts through December of 2019. A representative of ValueAct currently sits on the board of Alliance Data Systems (ADS), a competitor of Citi's in certain business lines. Due to issues around board interlocks of competitors, ValueAct is not pursuing a board seat at Citi at this time. Citi and ValueAct have discussed that when this situation changes, it is likely that ValueAct will propose a candidate for a board seat and Citi would consider the request, following its usual process for director candidates. ValueAct currently owns approximately 32M of the issued and outstanding shares of Citigroup common stock and is one of its largest shareholders.

C

Citi

$56.44

0.06 (0.11%)

ADS

Alliance Data

$167.31

-0.79 (-0.47%)

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    Jul

C Citi
$56.44

0.06 (0.11%)

01/07/19
MACQ
01/07/19
UPGRADE
MACQ
Outperform
Citi upgraded to Outperform from Neutral at Macquarie
01/07/19
01/07/19
UPGRADE
Target $76

Outperform
Citi upgraded to Outperform following 2018 underperformance at Macquarie
As previously reported, Macquarie analyst David Konrad upgraded Citi to Outperform from Neutral, partly due to valuation after the stock underperformed peers in 2018. Despite macro uncertainties, he sees Citi's stock as compelling due to his expectations for improving performance, continued operating leverage and credit risk concerns that he views as overdone, Konrad tells investors. However, Konrad lowered his price target on Citi shares to $76 from $83.
01/07/19
01/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Motors (GM) upgraded to Outperform from Market Perform at BMO Capital with analyst Richard Carlson citing a "brighter spotlight" being placed on the GM Cruise model in 2019 leading to more appropriate value being priced into the shares. 2. Alphabet (GOOG, GOOGL), Adobe (ADBE), and Salesforce (CRM) were upgraded to Buy from Hold at Pivotal Research. 3. Citi (C) upgraded to Outperform from Neutral at Macquarie with analyst David Konrad saying despite macro uncertainties, he sees Citi's stock as compelling due to his expectations for improving performance, continued operating leverage and credit risk concerns that he views as overdone. 4. Micron (MU) upgraded to Outperform from Market Perform at BMO Capital with analyst Ambrish Srivastava citing valuation. 5. Dillard's (DDS) upgraded to Neutral from Underweight at JPMorgan with analyst Matthew Boss saying he sees a more balanced risk/reward with the stock underperforming the over the past few years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/09/19
UBSW
01/09/19
UPGRADE
Target $32
UBSW
Buy
Bank of America upgraded to Buy from Neutral at UBS
UBS analyst Saul Martinez upgraded Bank of America (BAC) to Buy while lowering his price target for the shares to $32 from $33. The current share price offers an attractive entry point for a "leading franchise with proven risk and expense discipline and above peer profitability," Martinez tells investors in a research note. He believes that even with slowing revenue growth, Bank of America should continue improving efficiency metrics. Further, the company looks "comparatively well positioned to withstand a turn in credit," adds the analyst. Citigroup (C) remains Martinez's top pick among money centers.
ADS Alliance Data
$167.31

-0.79 (-0.47%)

12/10/18
BMOC
12/10/18
UPGRADE
Target $240
BMOC
Outperform
Alliance Data upgraded to Outperform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Daniel Salmon upgraded Alliance Data to Outperform and kept his price target at $240. The analyst notes that strategic acquirers will likely value Epsilon more highly than the public market does and expects a transaction for the business to be announced in the next few months since the Alliance Data Systems shares currently sit at 3-year lows. Salmon further estimates Epsilon valuation at about $5.4B and believes that the business could be sold in whole or in parts.
12/18/18
BARD
12/18/18
NO CHANGE
Target $203
BARD
Outperform
Alliance Data price target lowered to $203 from $250 at Baird
Baird analyst Jeffrey Meuler lowered his price target on Alliance Data to $203 from $250 following its November CS data, which he views as modestly negative. The analyst said the data showed a further deceleration in client balance growth and delinquency rates, which worsened on a sequential basis. Based on the deteriorating trends, coupled with multiple contraction, Meuler lowered his price, but maintained his Outperform rating on Alliance Data shares.
01/04/19
WOLF
01/04/19
DOWNGRADE
WOLF
Peer Perform
Alliance Data downgraded to Peer Perform from Outperform at Wolfe Research
01/09/19
WELS
01/09/19
NO CHANGE
Target $200
WELS
Outperform
Alliance Data price target lowered to $200 from $275 at Wells Fargo
Wells Fargo analyst Timothy Willi lowered his price target for Alliance Data to $200 from $275 as he awaits clarity on a potential sale of Epsilon. The analyst reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

LMFA

LM Funding

$2.19

0.765 (53.87%)

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NWSA

News Corp.

$12.42

0.03 (0.24%)

12:25
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Upgrade
News Corp. rating change  »

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FDC

First Data

$22.17

0.9 (4.23%)

12:25
01/17/19
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12:25
Options
First Data call volume above normal and directionally bullish »

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    Mar

BLK

BlackRock

$410.20

-2.65 (-0.64%)

12:25
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01/17
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Periodicals
BlackRock CEO calls on business leaders to tackle social issues, FT says »

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MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

, AAPL

Apple

$154.13

-0.75 (-0.48%)

12:22
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01/17
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12:22
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks opened in negative…

MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

AAPL

Apple

$154.13

-0.75 (-0.48%)

JNJ

Johnson & Johnson

$128.65

0.65 (0.51%)

SHLD

Sears

$0.00

(0.00%)

SBNY

Signature Bank

$120.40

7.98 (7.10%)

MTB

M&T Bank

$161.77

7.32 (4.74%)

SIG

Signet Jewelers

$25.63

-7.745 (-23.21%)

WDC

Western Digital

$35.97

-1.83 (-4.84%)

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LPCN

Lipocine

$2.24

0.65 (40.88%)

12:17
01/17/19
01/17
12:17
01/17/19
12:17
Recommendations
Lipocine analyst commentary  »

Ladenburg reiterates Buy…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
01/17/19
01/17
12:17
01/17/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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LMB

Limbach Holding

$5.00

(0.00%)

12:16
01/17/19
01/17
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12:16
Hot Stocks
Limbach awarded contracts totaling $81.4M for hospital construction »

Limbach Holdings provided…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
01/17/19
01/17
12:16
01/17/19
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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LPCN

Lipocine

$2.27

0.68 (42.77%)

12:12
01/17/19
01/17
12:12
01/17/19
12:12
Periodicals
Lipocine NASH data contain plenty of 'red flags,' STAT's Feuerstein writes »

This morning's…

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CVE

Cenovus Energy

$7.79

-0.19 (-2.38%)

12:10
01/17/19
01/17
12:10
01/17/19
12:10
Options
Second day of call buying in Cenovus Energy continues as shares slump »

Second day of call buying…

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SQ

Square

$68.79

2.9 (4.40%)

12:04
01/17/19
01/17
12:04
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12:04
Hot Stocks
Square launches free debit card for business, with sellers access to funds »

Square announced the…

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ALBO

Albireo Pharma

$24.54

0.08 (0.33%)

12:03
01/17/19
01/17
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12:03
Hot Stocks
Albireo Pharma treatment of biliary atresia granted FDA orphan status »

Albireo Pharma's…

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GPOR

Gulfport Energy

$8.67

-0.23 (-2.58%)

12:02
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Hot Stocks
Gulfport Energy confirms receipt of Firefly letter »

Gulfport Energy…

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UNFI

United Natural Foods

$13.09

-2.32 (-15.06%)

12:00
01/17/19
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Hot Stocks
United Natural Foods falls -15.1% »

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ESTE

Earthstone Energy

$5.28

-1.49 (-22.01%)

12:00
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Hot Stocks
Earthstone Energy falls -21.9% »

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SIG

Signet Jewelers

$25.49

-7.885 (-23.63%)

12:00
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Signet Jewelers falls -23.6% »

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SKX

Skechers

$27.64

2.27 (8.95%)

12:00
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Hot Stocks
Skechers rises 9.2% »

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CSV

Carriage Services

$18.60

1.61 (9.48%)

12:00
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Hot Stocks
Carriage Services rises 9.6% »

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SNH

Senior Housing

$12.82

-0.07 (-0.54%)

12:00
01/17/19
01/17
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12:00
Options
Put buyers in Senior Housing Properties »

Put buyers in Senior…

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SHLD

Sears

$0.00

(0.00%)

12:00
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Hot Stocks
Sears confirms ESL selected as winning bidder in bankruptcy auction »

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OZM

Och-Ziff Capital

$12.51

1.27 (11.30%)

12:00
01/17/19
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Hot Stocks
Och-Ziff Capital rises 11.1% »

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TGT

Target

$68.66

0.78 (1.15%)

, PLCE

Children's Place

$87.83

2.66 (3.12%)

11:57
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Periodicals
Target revamps its baby line Cloud Island to include essential items, CNBC says »

With the demise of …

TGT

Target

$68.66

0.78 (1.15%)

PLCE

Children's Place

$87.83

2.66 (3.12%)

CRI

Carter's

$78.68

0.48 (0.61%)

GPS

Gap

$25.28

0.38 (1.53%)

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  • 03

    Mar

EBS

Emergent BioSolutions

$65.86

0.79 (1.21%)

, AMPH

Amphastar

$21.90

0.1 (0.46%)

11:57
01/17/19
01/17
11:57
01/17/19
11:57
Recommendations
Emergent BioSolutions, Amphastar analyst commentary  »

Wells says naloxone news…

EBS

Emergent BioSolutions

$65.86

0.79 (1.21%)

AMPH

Amphastar

$21.90

0.1 (0.46%)

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EBS

Emergent BioSolutions

$65.86

0.79 (1.21%)

, AMPH

Amphastar

$21.91

0.11 (0.50%)

11:55
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Hot Stocks
FDA commissioner describes efforts to support development of OTC naloxone »

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EBS

Emergent BioSolutions

$65.86

0.79 (1.21%)

AMPH

Amphastar

$21.91

0.11 (0.50%)

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