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WFC

Wells Fargo

$47.88

0.13 (0.27%)

, TLRY

Tilray

$95.80

15.05 (18.64%)

07:35
01/14/19
01/14
07:35
01/14/19
07:35

Unusual call flow in option market yesterday

Notable call activity was cited Friday in Wells Fargo (WFC), Tilray (TLRY), General Motors (GM), Canopy Growth (CGC), Delta Air Lines (DAL), Caesars (CZR), CVS Health (CVS), Activision Blizzard (ATVI), AK Steel (AKS), and Electronic Arts (EA).

WFC

Wells Fargo

$47.88

0.13 (0.27%)

TLRY

Tilray

$95.80

15.05 (18.64%)

GM

General Motors

$37.17

2.44 (7.03%)

CGC

Canopy Growth

$38.25

0.73 (1.95%)

DAL

Delta Air Lines

$48.55

-0.18 (-0.37%)

CZR

Caesars

$8.71

0.72 (9.01%)

CVS

CVS Health

$65.79

0.24 (0.37%)

ATVI

Activision Blizzard

$46.54

-4.81 (-9.37%)

AKS

AK Steel

$2.79

0.09 (3.33%)

EA

Electronic Arts

$90.67

-0.38 (-0.42%)

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WFC Wells Fargo
$47.88

0.13 (0.27%)

01/08/19
WOLF
01/08/19
DOWNGRADE
WOLF
Peer Perform
Wells Fargo downgraded to Peer Perform from Outperform at Wolfe Research
01/07/19
GSCO
01/07/19
DOWNGRADE
Target $144
GSCO
Neutral
PNC Financial downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Richard Ramsden downgraded PNC Financial (PNC) to Neutral and lowered his price target for the shares to $144 from $154. Commercial loan growth has fallen 7 percentage points and is likely to track industry growth rates more closely from here, Ramsden tells investors in a research note. Further, he thinks higher deposit betas could "hinder" PNC's net interest income growth and that the current valuation "appears fair on a relative basis." In an environment where the revenue outlook is uncertain, Bank of America (BAC) and Wells Fargo look best positioned, says Ramsden.
01/02/19
RBCM
01/02/19
UPGRADE
Target $48
RBCM
Sector Perform
Wells Fargo upgraded to Sector Perform from Underperform at RBC Capital
As noted earlier, RBC Capital analyst Gerard Cassidy upgraded Wells Fargo to Sector Perform but lowered his price target to $48 from $50. The analyst notes that his prior downgrade was related to expectations that the Federal Reserve's Cease & Desist Order would "seriously hamper" the bank's ability to operate in an "otherwise healthy banking environment." At current prices however, Cassidy contends that the stock "fully discounts" the bank's regulatory risks, also raising his Q4 earnings estimate by 8c to $1.28.
01/02/19
RBCM
01/02/19
UPGRADE
RBCM
Sector Perform
Wells Fargo upgraded to Sector Perform from Underperform at RBC Capital
TLRY Tilray
$95.80

15.05 (18.64%)

11/14/18
BNCH
11/14/18
NO CHANGE
Target $200
BNCH
Buy
Tilray reported 'strong' Q3 sales without recreational cannabis, says Benchmark
Benchmark analyst Mike Hickey said Tilray reported "strong" Q3 sales even though the company did not recognize sales from recreational cannabis use in the quarter. Recreational use experienced a slow start, primarily due to the timing of licenses, distribution and retail infrastructure, as expected, said Hickey, who adds that there "appears to be exceedingly strong demand" from Canadians. He has raised his Q4 sales forecast based on increased production and presumed ongoing strong consumer demand and keeps a Buy rating on Tilray with a $200 price target.
01/09/19
PIPR
01/09/19
INITIATION
Target $90
PIPR
Overweight
Tilray initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Michael Lavery initiated coverage of Tilray with an Overweight rating and $90 price target. The analyst expects "strong" industry growth long-term, and believes Tilray is well positioned to be one of several likely winners given its relationships in medical, in the U.S., and in beverages. Lavery consider the company's initial public offering lock-up expiry to be a near-term risk, especially with 77% insider ownership, but his 12-month Overweight view is based on its fundamental outlook. He pegs Tilray's market opportunity at $15B-$50B in the near-term, and potentially $250B-$500B over the longer term.
12/18/18
COWN
12/18/18
NO CHANGE
COWN
Outperform
Cowen sees Sandoz deal as reinforcing Tilray's competitive positioning
Tilray's (TLRY) expanded global partnership with Novartis (NVS) division Sandoz can not only help expand its reach with pharmacists, physicians and distributors, it can also help Tilray capture early share in new medical cannabis markets as they come online, Cowen analyst Vivien Azer tells investors in a research note. Further, the analyst believes the partnership also helps legitimize cannabis in international markets, which could help influence countries considering medical cannabis legalization. Azer estimates international will represent 15% of Tilray's revenue in fiscal 2020 and 22% in fiscal 2021. Not only does the deal allow Tilray to expand geographic reach, but also to grow at scale, says Azer. And most notably, the Sandoz deal reinforces Tilray's competitive positioning, adds the analyst, who keeps an Outperform rating on the shares with a $150 price target. The stock in morning trading is up 9%, or $5.98, to $71.87.
01/09/19
PIPR
01/09/19
INITIATION
PIPR
Overweight
Piper Jaffray rolls out bullish research coverage on Canopy Growth, Tilray
Piper Jaffray analyst Michael Lavery initiated coverage of Canopy Growth (CGC) and Tilray (TLRY) with Overweight ratings and price targets of $40 and $90, respectively. The analyst believes the global Cannabis market has the potential to reach $250B-$500B over the long term and $15B-$50B in the near term. The industry's long-term growth opportunities are significant, both from transitioning illicit trade to legal sales and from transitioning sales in health and wellness categories to cannabidiol-infused products, Lavery tells investors in a research note. The analyst expects recreational use to source from illicit trade and alcohol, medical use to source from other medical treatments, and non-psychoactive CBD-infused cannabis products to source users from food, beverage, and personal care categories. Over 25 countries have legal marijuana use today, he points out. Lavery believes federal legalization in the U.S. could potentially come in the next five years. Further, the analyst expects capital flow into the sector will likely continue.
GM General Motors
$37.17

2.44 (7.03%)

01/14/19
BMOC
01/14/19
NO CHANGE
Target $47
BMOC
Outperform
General Motors price target raised to $47 from $41 at BMO Capital
BMO Capital analyst Richard Carlson raised his price target on General Motors to $47 and kept his Outperform rating after its FY19 guidance came in "well above" expectations. The analyst attributes the positive outlook to the company's "strong product lineup, cost-cutting initiatives, and a relatively healthy industry outlook", also raising his FY19 EPS view by 60c to $6.65. Carlson further states that in his view, the "market isn't fully appreciating the value from GM Cruise or the significant progress management has made in positioning GM for long-term success".
01/11/19
BUCK
01/11/19
NO CHANGE
Target $34
BUCK
Neutral
Buckingham stays Neutral on GM as better than expected guidance seen raising bar
Buckingham analyst Joseph Amaturo noted that he had expected General Motors would lower guidance today, but the company actually said it sees its FY18 EPS exceeding previous guidance and gave an FY19 profit outlook that was above consensus. He expects investors to look more closely at the underlying assumptions that prompted GM to arrive at FY19 EPS guidance of $6.50-$7.00 and thinks investors will be less willing to own GM stock after the company " just reset the bar higher for earnings and cash flow despite increased macro concerns." Amaturo keeps a Neutral rating and $34 price target on GM shares.
01/14/19
SBSH
01/14/19
NO CHANGE
SBSH
Buy
GM path to $76-$134 per share 'probably never been as visible,' says Citi
Citi analyst Itay Michaeli says General Motors' "unique fundamental position" and path to his prior $76-$134 long-term upside potential share case have "probably never been as visible as they are today." GM's investor day delivered a positive Q4 preannouncement, a "comfortably" greater than consensus 2019 guide, an "important re-messaging" of the pickup truck franchise, "clear focus" on positive free cash flow conversion and "encouraging" updates on Cruise AV and the company's electric vehicle plans, Michaeli tells investors in a research note. He keeps a Buy rating on shares of General Motors.
01/11/19
BUCK
01/11/19
NO CHANGE
Target $34
BUCK
Neutral
General Motors may guide down at today's investor event, says Buckingham
Buckingham analyst Joseph Amaturo kept his Neutral rating and $34 price target on General Motors, saying the company's capital markets event today may produce "modest pressure" on its stock price with the release of lower financial guidance. The analyst adds that while some of this expectation is reflected in the automaker's current valuation of 6.2-times expected 2019 earnings, he expects the near term investor sentiment to remain cautious, particularly given the company's "very large presence" in the China market.
CGC Canopy Growth
$38.25

0.73 (1.95%)

01/10/19
WELS
01/10/19
NO CHANGE
Target $235
WELS
Market Perform
Constellation Brands price target lowered to $235 from $260 at Wells Fargo
Wells Fargo analyst Bonnie Herzog lowered her price target for Constellation Brands (STZ) to $235 from $260 following "disappointing' Q3 results and FY19 guide down. The continues to view the stock as best-in-class with huge potential upside from its cannabis investment and therefore believes the sharp selloff in the shares is "way overdone!" However, Constellation Brands' miss on beer depletions, guide down on FY19 beer OI margin, pressure on its wine biz and lack of visibility on the impact of its Canopy Growth (CGC) investment on earnings will likely "keep the bears growling near-term." Herzog reiterates an Outperform rating on Constellation Brands' shares.
01/10/19
JEFF
01/10/19
NO CHANGE
Target $258
JEFF
Buy
Constellation risk/reward remains favorable after selloff, says Jefferies
Jefferies analyst Kevin Grundy lowered his estimates for Constellation Brands following yesterday's fiscal 2019 guidance reduction but he believes the stock's risk/reward remains favorable. The analyst lowered his price target for the shares to $258 from $269 and keeps a Buy rating on Constellation. The company's beer business remains healthy and its investment in Canopy Growth (CGC) is now a free call option, Grundy tells investors in a research note.
01/10/19
RHCO
01/10/19
NO CHANGE
Target $165
RHCO
Hold
Constellation Brands price target lowered to $165 from $180 at SunTrust
SunTrust analyst William Chappell lowered his price target on Constellation Brands (STZ) to $165 and kept his Hold rating on the stock. The analyst cites the company's reported expectations of declining wine and spirits sales, adding that the latest $4B investment in Canopy Growth (CGC) will be the "cloud" hanging over the stock for the next few quarters because of the uncertainty related to its potential growth.
01/10/19
GSCO
01/10/19
UPGRADE
Target $211
GSCO
Buy
Constellation Brands upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Constellation Brands (STZ) to Buy while lowering her price target for the shares to $211 from $243. The stock closed yesterday down 12.5%, or $21.57, to $150.94 post the company's Q3 earnings report. Constellation is down over 30% in the past 12 months, mostly driven by multiple contraction, Hong tells investors in a research note. The analyst reduced her estimates to reflect a "softer outlook" but sees a "compelling" risk/reward at current share levels. Her model yields a $195 per share value for the core business excluding Canopy Growth (CGC) and a consolidated price target of $211, pointing to 40% upside. Beer sales growth should remain healthy and beer margins should improve in fiscal 2020 as cost headwinds are lapped, Hong contends. Further, she believes Constellation shares could outperform even if investors assign zero value to its investment in Canopy.
DAL Delta Air Lines
$48.55

-0.18 (-0.37%)

01/11/19
SPHN
01/11/19
NO CHANGE
SPHN
Overweight
United Continental, Southwest estimates lowered at Stephens
Stephens analyst Jack Atkins said the weaker than expected Q4 unit revenue outlooks from Delta (DAL) and American Airlines (AAL) over the past week showed his that his forecasts for the sector "were clearly too aggressive" and he has lowered his forecasts for United Continental (UAL) and Southwest (LUV) in response to the slower growth in the domestic market. He cut his Q 4 PRASM growth forecast for United to 3.5% from 4.4% and lowered his FY19 PRASM growth forecast to 0.6% from 2.2%. For Southwest, Atkins cut his FY19 RASM growth view to 2.1% from 3.6%. He keeps Overweight ratings on both United Continental and Southwest.
01/14/19
BOFA
01/14/19
DOWNGRADE
Target $51
BOFA
Neutral
Delta Air Lines downgraded to Neutral from Buy at BofA/Merrill
As noted earlier, BofA/Merrill analyst Andrew Didora downgraded Delta Air Lines (DAL) to Neutral and lowered his price target to $51 from $62 as part of his broader research note on Airlines partially titled "more cautious given demand outlook". The analyst notes that his Flight Indicator data analysis suggests a "deceleration in domestic PRASM" in the first half of the year, coupled with other slowing demand indicators that include "weak ISM survey, declining CEO Confidence, airline pricing growth off highs, currency headwind, and government shutdown". Didora believes that Delta Air Lines specifically lacks the earnings catalysts evident in other airlines, while its valuation of 7.7-times forward earnings is a premium to the 5.8-times at United Airlines (UAL) and 7.1-times at American Airlines (AAL). The analyst adds that he still considers the airline as "best in class", but notes that the near-term headwinds in demand indicators justify a downgrade.
01/14/19
BOFA
01/14/19
DOWNGRADE
BOFA
Neutral
Delta Air Lines downgraded to Neutral from Buy at BofA/Merrill
01/09/19
01/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nike (NKE) downgraded to Neutral from Outperform at Baird with analyst Jonathan Komp citing its relative valuation and concerns about its high P/E premium. 2. Oracle (ORCL) downgraded to Equal Weight from Overweight at Barclays with analyst Raimo Lenscho saying the competitive situation in the company's core database market and cloud is "not getting easier." 3. Wendy's (WEN) downgraded to Neutral from Outperform at Wedbush. 4. Booking Holdings (BKNG) downgraded to Equal Weight from Overweight at Morgan Stanley and to Hold from Buy at Jefferies. 5. United Continental (UAL) downgraded to Underperform from In-Line at Imperial Capital while Delta Air Lines (DAL) was downgraded to In-Line from Outperform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CZR Caesars
$8.71

0.72 (9.01%)

01/07/19
DBAB
01/07/19
NO CHANGE
DBAB
Wynn, Caesars best large-cap Gaming stocks for 2019, says Deutsche Bank
Deutsche Bank analyst Carlo Santarelli says Wynn Resorts (WYNN) and Caesars Entertainment (CZR) are the best ways to play the large-cap Gaming space in 2019. Given current valuations and fundamental expectations "that seemingly accompany those valuations," the analyst is constructive on the larger-cap Gaming names and sees a bias to the upside in the stocks.
01/02/19
UBSW
01/02/19
UPGRADE
Target $7
UBSW
Neutral
Caesars upgraded to Neutral from Sell at UBS
UBS analyst Robin Farley upgraded Caesars Entertainment to Neutral while lowering her price target for the shares to $7 from $9. The analyst says her "bearish thesis" is now priced in with the stock down 33% over the past three months. Farley believes her below-consensus view on the Las Vegas market is more factored into the stock at these levels.
11/02/18
JEFF
11/02/18
NO CHANGE
Target $11
JEFF
Hold
Jefferies lowers Caesars target to $11 after 'softness' in Q3
Jefferies analyst David Katz views the "softness" in Caesars Entertainment's Q3 results as less consequential than the announcements of a leadership change and the decision to revisit the guidance process going forward, which he believes are "undoubtedly constructive in the longer term." Nonetheless, the analyst lowered his price target for Caesars to $11 from $12 and keeps a Hold rating on the name. The positive merits of the "increasingly clearer operating story" are tempered by the capital structure and allocation, Katz tells investors in a post-earnings research note titled "Change Can Be a Good Thing."
11/15/18
BERN
11/15/18
INITIATION
Target $9.1
BERN
Market Perform
Caesars initiated with a Market Perform at Bernstein
Bernstein analyst Vitaly Umansky started Caesars with a Market Perform rating and $9.10 price target. The analyst notes that over the last five years, gaming stocks have gone through periods of significant underperformance, followed by significant outperformance. The last six months have been exceptionally difficult for gaming stocks as Macau growth has begun to decelerate following nearly two years of strong growth and Las Vegas has seen unexpected near-term softness, he contends. However, Umansky argues that the gaming space has shown that if investors pick the right market, the right company, at the right time, outsized returns are possible.
CVS CVS Health
$65.79

0.24 (0.37%)

12/11/18
LEER
12/11/18
NO CHANGE
Target $100
LEER
Outperform
CVS Health assumed with an Outperform at Leerink
Leerink analyst Ana Gupte assumed coverage of CVS Health (CVS) with an Outperform rating and $100 price target. The analyst views the recently raised synergy guidance as having upside with earlier pull-through in 2019 despite the headwind from divestiture of Aetna (AET) Part D lives. Pricing and underwriting remain firm in 2019 based on her MEDACorp fully insured employer broker survey and she is comfortable on stable Commercial margins for the Aetna book. Further, Gupte sees the PBM business as being oversold as it is synergistically integrated with Aetna's MCO book over time into a full-service captive offering. Retail headwinds from e-commerce look largely priced into consensus estimates while multiples have compressed on fears of Amazon's (AMZN) entry into pharmacy, she contends.
12/14/18
GSCO
12/14/18
DOWNGRADE
Target $68
GSCO
Sell
Goldman downgrades Walgreens to Sell with $68 target, sees downside in 2019
Goldman Sachs analyst Robert Jones downgraded Walgreens Boots Alliance (WBA) to Sell from Neutral and lowered his price target for the shares to $68 from $73. The analyst says he struggles to make a "compelling fundamental case" for the Americas Healthcare Services Supply Chain heading into 2019 as "issues facing core growth drivers do not seem to be abating." Jones sees limited "core" growth for the large-cap names amid persisting sales and margin pressures and as drug pricing remains a regulatory focus. He downgrades Walgreens to Sell saying challenges in its retail pharmacy business "have intensified, forcing the company to search for other avenues of growth." Jones also keeps a Neutral rating on CVS Health (CVS) and Sell rating on Rite Aid (RAD).
12/18/18
LEHM
12/18/18
INITIATION
Target $91
LEHM
Overweight
CVS Health initiated with an Overweight at Barclays
Barclays analyst Steve Valiquette started CVS Health with an Overweight rating and $91 price target. The analyst views the acquisition of Aetna as well-timed and believes it will offset the company's slower growth in retail and pharmacy benefits.
12/18/18
LEHM
12/18/18
INITIATION
Target $91
LEHM
Overweight
Barclays starts CVS Health at Overweight after 'transformational' merger
Barclays analyst Steve Valiquette initiated coverage CVS Health with an Overweight rating and $91 price target. The analyst views the company's acquisition of Aetna as "well-timed" and "transformational." The good news for CVS is that Aetna has substantial leverage to the organic growth of the Medicare Advantage market, Valiquette tells investors in a research note. He projects 15% Medicare Advantage membership for Aetna in both 2019 and 2020. Further, for the combined company, Valiquette believes the $750M-plus in projected synergies by year two "should be more than achievable." The 2019 guidance in February "will be a clearing event for the stock," says the analyst.
ATVI Activision Blizzard
$46.54

-4.81 (-9.37%)

01/11/19
01/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Activision Blizzard (ATVI), Take-Two (TTWO), Electronic Arts (EA), Glu Mobile (GLUU) were initiated with an Overweight at Stephens, while the analyst also initiated Zynga (ZNGA) and Ubisoft (UBSFY) with an Equal Weight. 2. Domino's Pizza (DPZ) initiated with an Outperform at Cowen. 3. Okta (OKTA) and Zscaler (SZ) initiated with an Overweight at Piper Jaffray. 4. Lennar (LEN), D.R. Horton (DHI) and NVR (NVR) initiated with a Buy and KB Home (KBH), PulteGroup (PHM), Hovnanian (HOV) and Toll Brothers (TOL) initiated with a Neutral at Buckingham. 5. VMware (VMW) reinstated with a Neutral at Goldman SachsThis list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/11/19
WBLR
01/11/19
NO CHANGE
WBLR
Outperform
Activision likely decided to end Bungie agreement, says William Blair
William Blair analyst Ralph Schackart believes the end of the Bungie partnership was likely an Activision Blizzard-driven decision, as Destiny 2 had been underperforming commercial expectations. Despite solid unit sales, it appears the game did not meet expectations on reach and in-game monetization, Schackart tells investors in a research note. He imagines Activision will redeploy developers earmarked to Destiny to existing or new intellectual property that is fully owned. However, the analyst believes last night's announcement, which follows recent management departures, will create more near-term uncertainty. Looking forward, three Blizzard games, Overwatch, Hearthstone, and World of Warcraft are likely to decline in 2019, which made Activision's performance during the year particularly important, says Schackart. Nonetheless, he believes Activision "will ultimately manage through the recent near-term headwinds." He keeps an Outperform rating on Activision Blizzard.
01/11/19
BMOC
01/11/19
NO CHANGE
Target $52
BMOC
Market Perform
Activision Blizzard price target lowered to $52 from $60 at BMO Capital
BMO Capital analyst Gerrick Johnson lowered his price target on Activision Blizzard to $52 after its announcement that it will turn the development rights to Destiny franchise to Bungie. The analyst also lowers his FY19 EPS view by 5c to $2.60 to reflect the decision while keeping his Market Perform rating on the stock. Johnson adds that while the economics of publishing Destiny games may have turned, he ponders whether the move is "too soon on what, just a few years ago, seemed a crown jewel in the Activision Publishing portfolio."
01/11/19
BARD
01/11/19
NO CHANGE
Target $69
BARD
Outperform
Activision Blizzard price target cut to $69 from $75 at Baird
Baird analyst Colin Sebastian lowered his price target on Activision Blizzard to $69 from $75 following yesterday's announcement that the company is ending the Destiny contract with Bungie. In a research note to investors, Sebastian, who maintains an Outperform rating on shares, says that while the news and timing was unexpected, "it was not altogether surprising" given the declining performance of the franchise, Activision's history of pulling the plug on underperforming games, and management's desire to reduce costs. He thinks that the value of Destiny to Activision is "meaningfully" less than the 12% reduction in market cap and sees the decision having a negative impact of roughly $300M in revenue and roughly 15c in EPS for 2019.
AKS AK Steel
$2.79

0.09 (3.33%)

01/08/19
COWN
01/08/19
INITIATION
Target $2.5
COWN
Market Perform
AK Steel initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Nucor with a Neutral and $2.50 price target.
10/15/18
FBCO
10/15/18
NO CHANGE
FBCO
Neutral
Credit Suisse downgrades U.S. Steel sector along with three stocks
Credit Suisse analyst Curt Woodworth downgraded his view on the U.S. Steel sector to Market Weight from Overweight due to concerns with new supply entering the sheet market as well as with U.S demand as interest rates rise. The analyst sees "limited potential for multiple expansion given late cycle fears." Further, in addition to cycle concerns and new supply risk, capital allocation by companies has disappointed relative to investors "wish lists," Woodworth tells investors in a research note. Along with the sector, the analyst downgraded Nucor (NUE), Steel Dynamics (STLD), and Cleveland-Cliffs (CLF) to Neutral from Outperform. Woodworth keeps Outperform ratings on US Steel (X) and AK Steel (AKS) as he sees upside to Street estimates on better 2019 contract pricing as well as more attractive valuations relative to historical forward multiples.
10/11/18
GHSC
10/11/18
INITIATION
Target $5
GHSC
Neutral
AK Steel initiated with a Neutral at Seaport Global
Seaport Global analyst Derek Hernandez initiated AK Steel with a Neutral and $5 price target. Hernandez is cautious on 2019 contracts surprising to the upside due to high backwardation in the forward price curve, which will limit upside.
10/05/18
LBOW
10/05/18
NO CHANGE
Target $6
LBOW
Buy
AK Steel could trade 'solidly above $5,' says Longbow
Longbow analyst Chris Olin believes that AK Steel "could trade solidly above $5" per share as attention shifts toward a higher than expected floor for HRC spot market prices, commentary around 2019 steel contract values, stabilized or improved U.S. automotive production levels and Q4 EBITDA margin guidance. The analyst, who sees the most upside in AK Steel heading into the late-October reports compared to the other steel names he covers, keeps a Buy rating and $6 price target on the stock.
EA Electronic Arts
$90.67

-0.38 (-0.42%)

12/14/18
NEED
12/14/18
NO CHANGE
Target $100
NEED
Buy
Electronic Arts price target lowered to $100 from $150 at Needham
Needham analyst Laura Martin lowered her price target on Electronic Arts (EA) to $100 given the company's less inspiring game release slate in FY20 relative to FY19, noting that the margins on the Star Wars title expected next year are lower than this year's Battlefield because of Disney (DIS) royalties. The analyst also attributes the lower target to the market repricing of stocks "valued at over 4-times enterprise value to sales". Martin is keeping her Buy rating on Electronic Arts given the ownership of its own IP assets, loyalty of "super-fans", lower risk based on its dependence on title "sequels", and the under-40 age demographic of its target market. The analyst adds that while the company does not have a "Sports game creation problem", the same may not be said about action/adventure game creation.
12/21/18
WEDB
12/21/18
NO CHANGE
Target $275
WEDB
Outperform
Apple, EA, Nordstrom, SLM removed from Wedbush's Best Ideas List
01/10/19
SPHN
01/10/19
INITIATION
Target $125
SPHN
Overweight
Electronic Arts initiated with an Overweight at Stephens
Stephens analyst Jeff Cohen initiated coverage of the video game sector, starting Electronic Arts initiated with an Overweight rating and $125 price target. He believes the company's sports IP makes it the best positioned publisher for a subscription plus streaming future, Cohen tells investors.

TODAY'S FREE FLY STORIES

02:50
01/22/19
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02:50
General news
FX Update: The Dollar and Yen have traded firmer »

FX Update: The Dollar…

WOLWF

Woolworths Group

$0.00

(0.00%)

18:51
01/21/19
01/21
18:51
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18:51
Downgrade
Woolworths Group rating change at Citi »

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LLESY

Lendlease Group

$0.00

(0.00%)

18:48
01/21/19
01/21
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18:48
Upgrade
Lendlease Group rating change at Citi »

Lendlease Group upgraded…

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EFSC

Enterprise Financial

$41.41

0.99 (2.45%)

17:56
01/21/19
01/21
17:56
01/21/19
17:56
Earnings
Enterprise Financial reports Q4 EPS $1.02, consensus 95c »

Reports Q4 core revenue…

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    Jan

FB

Facebook

$150.01

1.77 (1.19%)

16:36
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16:36
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16:36
Periodicals
Facebook planning to add 1,000 jobs in Ireland by year-end, Reuters says »

Facebook will hire an…

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FB

Facebook

$150.01

1.77 (1.19%)

16:33
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01/21
16:33
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16:33
Periodicals
Facebook's WhatsApp limits users to five text forwards, Reuters reports »

Facebook's WhatsApp…

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ENB

Enbridge

$36.10

0.425 (1.19%)

16:28
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01/21
16:28
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16:28
Periodicals
Enbridge gas pipeline explosion creates fireball in Ohio, Reuters says »

An explosion of an…

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LIN

Linde plc

$160.76

3.48 (2.21%)

16:25
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16:25
Periodicals
Linde Plc to launch $6B share buyback scheme, Reuters says »

Linde Plc said it would…

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  • 28

    May

HENKY

Henkel

$0.00

(0.00%)

16:01
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01/21
16:01
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16:01
Downgrade
Henkel rating change at Goldman Sachs »

Henkel downgraded to…

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CAG

Conagra Brands

$21.58

0.34 (1.60%)

14:06
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14:06
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Hot Stocks
Conagra exploring alternatives for Italian-based frozen pasta business »

Conagra Brands announced…

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  • 22

    Jan

13:15
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General news
IMF trimmed global growth amid "no-deal" Brexit and trade war concerns »

IMF trimmed global growth…

UQM

UQM Technologies

$1.10

0.05 (4.76%)

13:05
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01/21
13:05
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13:05
Hot Stocks
UQM Technologies acquired by Danfoss Power Solutions for $1.71 per share »

UQM Technologies…

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SNY

Sanofi

$41.50

-0.54 (-1.28%)

12:37
01/21/19
01/21
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Hot Stocks
Sanofi granted U.K. marketing authorization for TIV High Dose »

U.K. marketing…

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RTN

Raytheon

$165.11

2.285 (1.40%)

12:33
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01/21
12:33
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12:33
Hot Stocks
Raytheon awarded $24.36M order for F/A-18 aircraft system repair »

Raytheon said it was a…

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IBCP

Independent Bank

$22.80

-0.11 (-0.48%)

11:26
01/21/19
01/21
11:26
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11:26
Hot Stocks
Independent Bank boosts quarterly dividend by 20% to 18c »

Independent Bank…

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  • 29

    Jan

11:25
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General news
FX Update: The dollar majors have been directionally challenged »

FX Update: The dollar…

EDIT

Editas Medicine

$26.16

-0.01 (-0.04%)

11:25
01/21/19
01/21
11:25
01/21/19
11:25
Hot Stocks
Editas Medicine announces publication of EDIT-101 data in Nature Medicine »

Editas Medicine announced…

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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
01/21/19
01/21
11:23
01/21/19
11:23
Hot Stocks
France's National Data Protection Commission fines Google 50M euros »

France's National…

GOOG

Alphabet

$1,098.25

6.96 (0.64%)

GOOGL

Alphabet Class A

$1,106.92

7.52 (0.68%)

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LAD

Lithia Motors

$87.13

1.57 (1.84%)

10:25
01/21/19
01/21
10:25
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10:25
Conference/Events
Lithia Motors to host special shareholder meeting »

Special shareholder…

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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 »

Luncheon Meeting with…

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  • 21

    Jan

ABT

Abbott

$71.43

0.9 (1.28%)

09:50
01/21/19
01/21
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09:50
Hot Stocks
Abbott announces FDA approval of TactiCath Contact Force Ablation Catheter »

Abbott announced FDA…

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SFUN

Fang Holdings

$1.88

-0.01 (-0.53%)

09:48
01/21/19
01/21
09:48
01/21/19
09:48
Hot Stocks
Fang announces management changes, proposed China Index spin-off »

Fang Holdings announced a…

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TS

Tenaris

$24.32

0.64 (2.70%)

09:45
01/21/19
01/21
09:45
01/21/19
09:45
Hot Stocks
Tenaris closes acquisition of 47.79% of Saudi Steel Pipe shares »

Tenaris S.A. announced…

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PAAS

Pan American Silver

$14.17

-0.31 (-2.14%)

09:42
01/21/19
01/21
09:42
01/21/19
09:42
Hot Stocks
Pan American reports 2018 silver production 24.8M ounces »

Pan American Silver Corp.…

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CRWS

Crown Crafts

$5.68

(0.00%)

09:38
01/21/19
01/21
09:38
01/21/19
09:38
Hot Stocks
Crown Crafts announces retirement of NoJo Baby & Kids CEO »

Crown Crafts (CRWS)…

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