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CCI

Crown Castle

, VZ

Verizon

$58.01

0.43 (0.75%)

06:11
01/14/19
01/14
06:11
01/14/19
06:11

Crown Castle downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Brett Feldman downgraded Crown Castle (CCI) to Neutral and lowered his price target for the shares to $110 from $116. The analyst believes tower stocks are appropriately priced given his expectations for growth in 2019. "Near-peak growth expectations" are priced in at current share levels, Feldman tells investors in a research note. The analyst also laid his top picks in Americas Telecom Services. His favorite defensive stock is Verizon (VZ), his favorite value stock is Altice USA (ATUS), his most catalyst driven idea is Zayo Group (ZAYO) and his top data center operator is Equinix (EQIX).

CCI

Crown Castle

VZ

Verizon

$58.01

0.43 (0.75%)

ATUS

Altice USA

$17.67

-0.08 (-0.45%)

ZAYO

Zayo Group

$26.07

0.79 (3.13%)

EQIX

Equinix

$371.44

0.74 (0.20%)

  • 24

    Jan

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    Feb

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    Feb

  • 03

    Mar

CCI Crown Castle

12/12/18
WELS
12/12/18
NO CHANGE
Target $129
WELS
Outperform
Crown Castle price target raised to $129 from $123 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche raised her price target for Crown Castle to $129 from $123 after traveling with management. The analyst walked away from these meetings with increased conviction in the company's strategy and drivers of growth. Crown Castle is Fritzsche's top tower pick for 2019. She reiterates an Outperform rating on the shares.
12/12/18
12/12/18
DOWNGRADE
Target $170

Equal Weight
American Tower downgraded to Equal Weight after outperformance at Morgan Stanley
As previously reported, Morgan Stanley analyst Simon Flannery downgraded American Tower (AMT) to Equal Weight from Overweight, citing the stock's strong relative performance in 2018 compared to peers. While he remains supportive of the Tower companies overall, Flannery believes American Tower has a slightly more difficult set-up with strong domestic growth more priced in. He maintains a $170 price target on the shares. Flannery keeps Overweight ratings on SBA Communications (SBAC) and Crown Castle (CCI), stating that the Towers as a group have the best business model in his combined Telecom coverage due to their strong operating fundamentals, high barriers to entry and unique competitive characteristics.
12/03/18
MOFT
12/03/18
DOWNGRADE
MOFT
Neutral
Crown Castle downgraded to Neutral from Buy at MoffettNathanson
07/30/18
MSCO
07/30/18
NO CHANGE
MSCO
Overweight
Survey of tower owners bodes well for tower stocks, says Morgan Stanley
Morgan Stanley analyst Simon Flannery said the firm's survey of 20 private tower owners points to solid leasing trends and robust demand, leading him to reiterate his Overweight ratings on American Tower (AMT) and SBA Communications (SBAC) ahead of them reporting earnings this week. Those surveyed expect momentum to continue, which he believes bodes well for second half organic growth acceleration into 2019, Flannery tells investors. He also has an Overweight rating on Crown Castle (CCI).
VZ Verizon
$58.01

0.43 (0.75%)

12/12/18
12/12/18
DOWNGRADE
Target $58

Equal Weight
Morgan Stanley downgrades Verizon to Equal Weight, says good news priced in
As previously reported, Morgan Stanley analyst Simon Flannery downgraded Verizon to Equal Weight from Overweight, as he contends that the stock's 11% year-to-date advance prices in the company's good news, including its $4B free cash flow improvement this year. While Verizon has actively marketed itself as the first carrier to 5G, this may spur higher spending than currently estimated by consensus, said Flannery. He believes carriers could spend up to $40B on wireless spectrum over the next three years, with Verizon alone spending up to $18B, the analyst added. Additionally, he sees risk of an increased competitive environment. Flannery maintains a $58 price target on Verizon shares.
12/12/18
12/12/18
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. eBay (EBAY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Brian Nowak saying he had been wrong in his prior view about how quickly core marketplaces would deteriorate. 2. Bank of America (BAC) and Morgan Stanley (MS) were downgraded to Market Perform from Outperform at Keefe Bruyette. 3. Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying there are signs of increased phosphate exports from China, which have the potential to loosen the supply/demand balance in phosphate in 2019, leading to a weaker phosphate price dynamic. 4. Verizon (VZ) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Simon Flannery saying he contends that the stock's 11% year-to-date advance prices in the company's good news, including its $4B free cash flow improvement this year. 5. Fluor (FLR) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jerry Revich saying Fluor management noted that it was underbid on a major U.S. liquefied natural gas project that the analyst expected to be a catalyst in 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/28/18
TIGR
12/28/18
NO CHANGE
TIGR
Verizon 5G rollout offset by saturated, competitive market, says Tigress
Tigress Financial analyst Ivan Feinseth reiterated a Neutral rating on Verizon, noting that the long-term opportunity of its 5G rollout, which it continues to invest in upgrading and expanding, is offset by "headwinds of a highly saturated and competitive market," as well as an ongoing decline in Verizon Fios subscribers. Feinseth does believe, however, that Verizon's above-average dividend and size advantage could provide an "attractive investment opportunity at some point in the near future."
01/08/19
SBSH
01/08/19
NO CHANGE
SBSH
Verizon's 'strong' Q4 net adds bode well for sales growth, says Citi
Citi analyst Michael Rollins says Verizon's "strong" postpaid phone net additions for Q4 in a measured promotional environment bode well for the company's sales growth and cash flow as well as the broader wireless category. The analyst remains a buyer of Verizon shares as he sees further upside from better wireless performance, cost cutting and 5G.
ATUS Altice USA
$17.67

-0.08 (-0.45%)

12/07/18
WOLF
12/07/18
INITIATION
Target $22
WOLF
Outperform
Altice USA initiated with an Outperform at Wolfe Research
Wolfe Research initiated Altice USA with an Outperform rating and $22 price target.
12/04/18
SBSH
12/04/18
NO CHANGE
Target $26
SBSH
Buy
Altice USA has 65% upside if given Charter's 2020 multiple, says Citi
"Rarely have we seen such a stark dichotomy between EBITDA growth and a falling stock price," Citi analyst Jason Bazinet tells investors in a research note on Altice USA (ATUS) titled "Getting to the Bottom of Altice's Woes." The analyst points out that if Altice commanded Charter Communications' (CHTR) 2020 levered free cash flow multiple of 15 times, the stock would be worth $29 per share, of 65% upside from current levels. Bazinet keeps a Buy rating on Altice USA with a $26 price target.
11/15/18
11/15/18
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. PayPal (PYPL) initiated with an Overweight at Barclays. 2. Albemarle (ALB) initiated with a Neutral at Buckingham. 3. Galapagos NV (GLPG) initiated with a Strong Buy at Raymond James. 4. Mogo Finance (MOGO) initiated with a Buy at B. Riley FBR. 5. Altice USA (ATUS) initiated with a Buy at UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/15/18
UBSW
11/15/18
INITIATION
Target $26
UBSW
Buy
Altice USA initiated with a Buy at UBS
UBS analyst John Hodulik started Altice USA with a Buy rating and $26 price target. With Optimum accounting for two-thirds of its footprint, Altice benefits from densely populated, high-end aerial markets, Hodulik tells investors in a research note. He believes the company's new initiatives designed to improve the products, reduce churn and streamline the cost structure will drive "stable to improving" subscriber metrics and financial growth over the medium-term. As such, Hodulik views the stock's risk/reward as attractive.
ZAYO Zayo Group
$26.07

0.79 (3.13%)

11/16/18
COWN
11/16/18
NO CHANGE
Target $37
COWN
Outperform
Zayo Group likely to receive takeout offer, says Cowen
After hosting an investor call with Zayo Group CFO Matt Steinfort, Cowen analyst Colby Synesael said that he expects Zayo to receive a takeout offer based on conversations with his contacts. Synesael believes financial sponsors, strategic buyers and activist investors are all currently evaluating the company, he added. The decision to split the company will "effectively quarantine the bad revenue" and allow the good InfraCo business to show, but private equity investors and strategics familiar with the fiber business "know this and in our view are unlikely to wait," Synesael wrote in a note to investors. He maintains an Outperform rating on Zayo Group shares with a $37 price target.
11/09/18
OPCO
11/09/18
NO CHANGE
Target $30
OPCO
Outperform
Zayo Group price target cut to $30 from $38 at Oppenheimer
Oppenheimer analyst Timothy Horan maintained an Outperform rating on Zayo Group but lowered his price target to $30 after the company's Q1 results disappointed, with consolidated revenue missing estimates by 200bps. In a research note to investors, Horan says Zayo will split the business into two publicly-traded companies, but the enterprise unit will be 3x the size he expected, which has hurt his valuation.
11/14/18
DBAB
11/14/18
NO CHANGE
Target $30
DBAB
Buy
Zayo Group price target lowered to $30 from $42 at Deutsche Bank
Deutsche Bank analyst Matthew Niknam lowered his price target for Zayo Group to $30 from $42 but sticks with a Buy rating on the shares. Despite greater caution on near-term trends, the shares offer "meaningful upside" over a 12-month timeframe, Niknam tells investors in a research note. The analyst, however, lowered his estimates post Zayo's "disappointing" fiscal Q1 results.
11/28/18
JPMS
11/28/18
UPGRADE
Target $38
JPMS
Overweight
Zayo Group upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick upgraded Zayo Group Holdings to Overweight with an unchanged price target of $38 after meeting with management. The analyst is now incrementally more confident in the underlying demand trends for the company's fiber and colocation business.
EQIX Equinix
$371.44

0.74 (0.20%)

01/02/19
BOFA
01/02/19
NO CHANGE
BOFA
Top 10 US Ideas for Q1 2019 at BofA/Merrill
BofA/Merrill's Alpha Generation Research team introduced its latest Top 10 US Ideas for Q1 2019. The list consists of 9 Buys that are Cigna (CI), Disney (DIS), Equinix (EQIX), Honeywell (HON), Lockheed Martin (LMT), Marvell (MRVL), Procter & Gamble (PG), AT&T (T), and Tapestry (TPR) and 1 Underperform rating which is Campbell Soup (CPB).
01/08/19
BREN
01/08/19
INITIATION
Target $477
BREN
Buy
Equinix initiated with a Buy at Berenberg
Berenberg analyst Nate Crosett initiated Equinix with a Buy and $477 price target.
12/10/18
JEFF
12/10/18
DOWNGRADE
Target $102
JEFF
Hold
CoreSite Realty downgraded to Hold from Buy at Jefferies
Jefferies analyst Jonathan Petersen downgraded CoreSite Realty (COR) to Hold and lowered his price target for the shares to $102 from $107. A lack of sellable capacity reduces the company's growth outlook for 2019 and 2020, Petersen tells investors in a research note. The analyst sees better near-term growth in Digital Realty (DLR) and Equinix (EQIX), two stocks he upgraded this morning to Buy.
12/10/18
JEFF
12/10/18
UPGRADE
Target $479
JEFF
Buy
Equinix upgraded to Buy from Hold at Jefferies
Jefferies analyst Jonathan Petersen upgraded Equinix to Buy and raised his price target for the shares to $479 from $454. The company has built a data center portfolio that should consistently deliver the strongest level of organic growth among the Data Center real estate investment trusts, Petersen tells investors in a research note. He sees Equinix's earnings growth accelerating in 2019 with dilution from acquisitions now behind the company.

TODAY'S FREE FLY STORIES

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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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General news
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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%)

, GOOGL

Alphabet Class A

$1,106.92

7.52 (0.68%)

11:23
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Alphabet

$1,098.25

6.96 (0.64%)

GOOGL

Alphabet Class A

$1,106.92

7.52 (0.68%)

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    Mar

LAD

Lithia Motors

$87.13

1.57 (1.84%)

10:25
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01/21
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10:25
Conference/Events
Lithia Motors to host special shareholder meeting »

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CYDY

CytoDyn

$0.00

(0.00%)

10:25
01/21/19
01/21
10:25
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10:25
Conference/Events
CytoDyn participates in lunch meeting with Philadelphia Securities »

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  • 21

    Jan

ABT

Abbott

$71.43

0.9 (1.28%)

09:50
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SFUN

Fang Holdings

$1.88

-0.01 (-0.53%)

09:48
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Fang announces management changes, proposed China Index spin-off »

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TS

Tenaris

$24.32

0.64 (2.70%)

09:45
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Tenaris closes acquisition of 47.79% of Saudi Steel Pipe shares »

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PAAS

Pan American Silver

$14.17

-0.31 (-2.14%)

09:42
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Pan American reports 2018 silver production 24.8M ounces »

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CRWS

Crown Crafts

$5.68

(0.00%)

09:38
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Crown Crafts announces retirement of NoJo Baby & Kids CEO »

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AL

Air Lease

$37.50

0.6 (1.63%)

, BA

Boeing

$364.79

5.52 (1.54%)

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Air Lease announces lease placement of Boeing 737 MAX 9 »

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AL

Air Lease

$37.50

0.6 (1.63%)

BA

Boeing

$364.79

5.52 (1.54%)

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UTSI

UTStarcom

$3.22

0.1 (3.21%)

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VRTX

Vertex

$194.63

4.19 (2.20%)

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ALNY

Alnylam

$83.08

2.4 (2.97%)

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THO

Thor Industries

$66.56

1.905 (2.95%)

09:26
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Thor finalizing talks to exclude EHG's North American operations from deal »

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PLWTY

Panalpina

$0.00

(0.00%)

08:44
01/21/19
01/21
08:44
01/21/19
08:44
Downgrade
Panalpina rating change at Jefferies »

Panalpina downgraded to…

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EFGSY

Eiffage

$0.00

(0.00%)

08:41
01/21/19
01/21
08:41
01/21/19
08:41
Upgrade
Eiffage rating change at Barclays »

Eiffage upgraded to…

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TVFCF

Television Francaise 1

$0.00

(0.00%)

08:40
01/21/19
01/21
08:40
01/21/19
08:40
Downgrade
Television Francaise 1 rating change at Citi »

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ATVDY

Atresmedia

$0.00

(0.00%)

08:37
01/21/19
01/21
08:37
01/21/19
08:37
Upgrade
Atresmedia rating change at Citi »

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TDPAY

Tod's

$0.00

(0.00%)

08:36
01/21/19
01/21
08:36
01/21/19
08:36
Downgrade
Tod's rating change at Citi »

Tod's downgraded to…

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