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LITE

Lumentum

$45.76

0.68 (1.51%)

, AAPL

Apple

$152.26

-1.52 (-0.99%)

08:48
01/14/19
01/14
08:48
01/14/19
08:48

Lumentum earnings power from Oclaro deal unappreciated, says Morgan Stanley

Morgan Stanley analyst Meta Marshall believes the market is focusing on the shortfall of 3D sensing expectations at Lumentum (LITE) while missing the $1.00-$1.50 of earnings power to come from its acquisition of Oclaro. There has generally been an assumption built into sell-side expectations that there would be an additional "world-facing" VCSEL-based module on the back of certain Apple (AAPL) iPhones in the fall of 2019 phone, noted Marshall. Given that, she believes that most sell-side estimates would need to come down by 75c-$1.00 if there were no "worldfacing" VCSEL in the iPhone in 2019, unless there was "massive" Android adoption to make up for the difference. The analyst, who prefers to let consensus estimates come down but said she is "more inclined to be positive" in the near-term, keeps an Equal Weight rating and $55 price target on Lumentum shares.

LITE

Lumentum

$45.76

0.68 (1.51%)

AAPL

Apple

$152.26

-1.52 (-0.99%)

LITE Lumentum
$45.76

0.68 (1.51%)

12/17/18
NEED
12/17/18
NO CHANGE
Target $75
NEED
Strong Buy
Lumentum can continue posting 'beat and raise' quarters, says Needham
Needham analyst Alex Henderson left recent meetings with management with a "strong conviction" that Lumentum can continue to post "beat and raise" quarters. With the Oclaro deal closed, the analyst increased his estimates for Lumentum to reflect the combined company numbers. He believes the company looks well positioned and keeps a Strong Buy rating on the shares with a $75 price target.
12/18/18
NEED
12/18/18
NO CHANGE
Target $62
NEED
Buy
Fabrinet price target raised to $62 from $58 at Needham
Needham analyst Alex Henderson raised his price target on Fabrinet (FN) to $62 and kept his Buy, citing the recent commentary from Ciena (CIEN) regarding "strong optical demand" as well as his site visits to Lumentum (LITE) and NeoPhotonics (NPTN). The analyst believes that Fabrinet is "well positioned" as companies move out of China" and look for production alternatives, while its recent acquisitions in the optical space should "add business to Fabrinet". Henderson further notes that the global demand for optical products is looking "robust".
01/03/19
NEED
01/03/19
NO CHANGE
Target $65
NEED
Strong Buy
Lumentum price target lowered to $65 from $75 at Needham
Needham analyst N. Quinn Bolton lowered his price target on Lumentum (LITE) to $65 after the negative Q1 revenue pre-announcement from Apple (AAPL). The analyst says the reduction is intended to "de-risk" his forecasts on the company's 3D exposure to Apple, as he also lowers his 2019 3D sales forecast to $405M from $465M. Bolton is keeping his Strong Buy rating on the shares however, stating that excluding 3D, the company's "business looks strong with robust optical demand for ROADMs and Pumps and solid dynamics in Industrial lasers".
01/03/19
RILY
01/03/19
NO CHANGE
Target $62
RILY
Buy
B. Riley FBR an 'aggressive' buyer of Lumentum on today's selloff
B. Riley FBR analyst Dave Kang says he's an "aggressive" buyer today of Lumentum Holdings (LITE) on the selloff related to Apple's guidance cut last night. Apple weakness believe was already reflected in Lumentum's November preannouncement, Kang tells investors in a research note. He keeps a Buy rating on the shares with a $62 price target. The stock in early trading is down 8%, or $3.36, to $39.23.
AAPL Apple
$152.26

-1.52 (-0.99%)

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.
01/11/19
GSCO
01/11/19
DOWNGRADE
Target $68
GSCO
Neutral
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.
01/11/19
JPMS
01/11/19
NO CHANGE
Target $228
JPMS
Overweight
JPMorgan iPhone Supplier Tracker decelerated further in December
JPMorgan analyst Samik Chatterjee says his firm's iPhone Supplier Tracker decelerated further in December, and marked the first year-over-year decline since November 2016. Aggregate revenues for the suppliers in the tracker declined by 4% year-over-year in December versus up 9% in November and up 17% in October. Quarterly supplier revenue trends decelerated as well in Q4 and points to continued iPhone revenue decline in Q1, Chatterjee tells investors in a research note. Further, he believes 2019 iPhone models are unlikely to involve major upgrades. However, a refresh in 2020 could drive Apple's virtual reality leadership, Chatterjee adds. He has an Overweight rating on the shares with a $228 price target.
01/14/19
WEDB
01/14/19
NO CHANGE
Target $200
WEDB
Outperform
China price cuts, content M&A to lay groundwork for Apple's future, says Wedbush
Wedbush analyst Daniel Ives believes Apple (AAPL) needs to aggressively cut prices in China on XR and pull forward what he estimates is roughly 15M-20M iPhones that would otherwise sit idle waiting for the next release, or worst case, move to lower priced competition. Additionally, with services the linchpin of the Apple story moving forward, there needs to be serious contemplation within Cupertino around significant content acquisitions to drive services over the coming years, he contends. Ives sees A24, Lionsgate (LGF.A; LGF.B), and Sony Pictures (SNE) among the highest probability M&A targets, Viacom (VIA;VIAB)/CBS(CBS), and MGM Studios among the medium probability M&A targets, and Netflix (NFLX), Disney (DIS), and Gaming platform/video game publishers among the low probability M&A targets. The analyst reiterates an Outperform rating and $200 price target on Apple shares.

TODAY'S FREE FLY STORIES

GWPH

GW Pharmaceuticals

$137.24

2.59 (1.92%)

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FCSC

Fibrocell Science

$2.03

0.03 (1.50%)

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

, ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

16:49
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Conference/Events
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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

ENLK

EnLink Midstream Partners

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0.51 (3.90%)

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FDX

FedEx

$176.97

3.72 (2.15%)

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ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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EnLink Midstream

$11.75

0.4 (3.52%)

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Conference/Events
EnLink Midstream Companies to hold a special shareholder meeting »

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ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

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MKL

Markel

$1,067.03

13.52 (1.28%)

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NILSY

Norilsk Nickel

$0.00

(0.00%)

16:35
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16:35
Downgrade
Norilsk Nickel rating change  »

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

, ABBV

AbbVie

$89.51

2.28 (2.61%)

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

ABBV

AbbVie

$89.51

2.28 (2.61%)

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FOMX

Foamix

$3.70

-0.14 (-3.65%)

16:32
01/18/19
01/18
16:32
01/18/19
16:32
Conference/Events
Foamix to host research and development day »

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16:30
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Options
Preliminary option volume of 26.9M today »

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NBRV

Nabriva Therapeutics

$1.97

-0.01 (-0.51%)

16:27
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16:27
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Conference/Events
Nabriva Therapeutics to host analyst and investor meeting »

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VLRS

Volaris

$7.50

0.04 (0.54%)

16:21
01/18/19
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16:21
Conference/Events
International Aviation Club to host monthly luncheon meeting »

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  • 23

    Jan

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
01/18/19
01/18
16:20
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16:20
Options
Closing CBOE SPX and VIX Index summary for January 18th »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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Technical Analysis
NASDAQ market internals summary »

Volume was above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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FTSV

Forty Seven

$14.48

-0.57 (-3.79%)

16:14
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Conference/Events
Forty Seven to hold KOL breakfast symposium »

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TSLA

Tesla

$302.26

-45.18 (-13.00%)

, WMT

Walmart

$97.75

1.01 (1.04%)

16:14
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On The Fly
Fly Intel: Wall Street's top stories for Friday »

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Tesla

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WMT

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$97.75

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CVS Health

$65.49

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NFLX

Netflix

$339.20

-14.02 (-3.97%)

FB

Facebook

$150.01

1.77 (1.19%)

AAPL

Apple

$156.85

0.99 (0.64%)

QCOM

Qualcomm

$55.26

0.44 (0.80%)

FND

Floor & Decor

$31.99

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Bank OZK

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VFC

VF Corp.

$82.39

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NLS

Nautilus

$7.00

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CASA

Casa Systems

$11.23

-3.17 (-22.01%)

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SNE

Sony

$50.08

0.58 (1.17%)

16:12
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Sony Music ends working relationship with R. Kelly, Variety reports »

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PLD

Prologis

$64.58

0.53 (0.83%)

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  • 22

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CYDY

CytoDyn

$0.00

(0.00%)

16:10
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WHF

WhiteHorse Finance

$13.58

-0.105 (-0.77%)

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CB

Chubb

$133.43

0.6 (0.45%)

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  • 06

    Feb

ESEA

Euroseas

$0.80

-0.0332 (-3.98%)

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MRK

Merck

$75.68

0.08 (0.11%)

, SSNLF

Samsung

$0.00

(0.00%)

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MRK

Merck

$75.68

0.08 (0.11%)

SSNLF

Samsung

$0.00

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RHHBY

Roche

$0.00

(0.00%)

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NKE

Nike

$80.35

1.23 (1.55%)

15:40
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Options
Nike calls lead puts more than 4:1 as shares extend gains »

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