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EBAY

eBay

$31.00

0.62 (2.04%)

, UAA

Under Armour

$20.50

0.47 (2.35%)

09:07
01/22/19
01/22
09:07
01/22/19
09:07

Fly Intel: Pre-market Movers

HIGHER: eBay (EBAY), up 12% after Elliott Management announced an over 4% stake and urged the company to make changes, including undertaking a portfolio review... TG Therapeutics (TGTX), up 11% after announcing breakthrough therapy designation for umbralisib... MediWound (MDWD), up 18% after the Phase 3 DETECT study with NexoBrid met its endpoints... Under Armour (UAA), up 4% after Goldman Sachs analyst Alexandra Walvis upgraded the stock to Buy and raised her price target for the shares to $28 from $24. The analyst also added the shares to her firm's Americas Conviction List. UP AFTER EARNINGS: New Oriental Education (EDU), up 4%. DOWN AFTER EARNINGS: Johnson & Johnson (JNJ), down 2%... PetMed Express (PETS), down 16%... Halliburton (HAL), down 2%. LOWER: Crispr Therapeutics (CRSP), down 8% after Citi analyst Yigal Nochomovitz downgraded shares to Sell from Neutral and cut his price target for the shares to $21 from $28. Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors, Nochomovitz tells investors... Gap (GPS), down 4% after Goldman Sachs analyst Alexandra Walvis downgraded the stock to Sell from Neutral and lowered her price target for the shares to $23 from $27. Fundamentals for Gap's specialty brands have been weak for some time and a more aggressive portfolio rationalization at the Gap brand "will prove to be insufficient to reinvigorate the business," Walvis tells investors... Arconic (ARNC), down 22% after stating that it is no longer pursuing a potential sale of company.

EBAY

eBay

$31.00

0.62 (2.04%)

UAA

Under Armour

$20.50

0.47 (2.35%)

UA

Under Armour

$18.57

0.44 (2.43%)

ARNC

Arconic

$20.35

0.17 (0.84%)

JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

TGTX

TG Therapeutics

$4.51

0.095 (2.15%)

MDWD

MediWound

$4.39

-0.06 (-1.35%)

EDU

New Oriental Education

$65.91

1.755 (2.74%)

PETS

PetMed Express

$23.45

-0.27 (-1.14%)

HAL

Halliburton

$32.27

1.36 (4.40%)

GPS

Gap

$26.01

0.42 (1.64%)

CRSP

Crispr Therapeutics

$37.21

1.22 (3.39%)

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EBAY eBay
$31.00

0.62 (2.04%)

01/04/19
GSCO
01/04/19
DOWNGRADE
Target $32
GSCO
Neutral
eBay downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Heath Terry downgraded eBay to Neutral and lowered his price target for the shares to $32 from $34. The analyst sees better opportunities with other names in Internet given uncertainty around eBay's growth and margin expansion, specifically the company's ability to deliver low-to-mid single digit growth on reduced ad spend. eBay has tried unsuccessfully to reaccelerate growth for sustained periods, and uncertainty around the elasticity of marketing spend could also challenge margin expansion and pressure its earnings growth, Terry tells investors in a research note.
12/26/18
BARD
12/26/18
NO CHANGE
BARD
Baird names Amazon, Alphabet among best internet stocks to own for rebound
Baird analyst Colin Sebastian pointed out in a note to investors before the open that the number of searches on Google for the term "recession" has more than doubled since October, hitting a recent peak in early December. However, he thinks it is reasonable to consider a more optimistic outcome, namely a rebound, and looked back at the past four market "corrections" to see which stocks in large-cap internet fared. In each of the six-month periods he analyzed, Activision (ATVI), Facebook (FB) and Alphabet (GOOGL) traded higher with the lowest standard deviations in the group, Sebastian noted, adding that he thinks lingering overhangs on Facebook shares could dampen its recovery this time around. Amazon (AMZN) was the best overall performer, while eBay (EBAY) was the laggard, each with higher standard deviations, Sebastian added. Overall, he named Activision, Alphabet and Amazon as his "AAA" best bets in a rebound scenario.
01/04/19
01/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Skyworks (SWKS) downgraded to Neutral from Buy at Nomura Instinet with analyst Krysten Sciacca saying after Apple's (AAPL) profit warning, she believes growth headwinds from macro and trade uncertainty, as well as weak unit demand at the company's largest customers, will persist in 2019. 2. Snap (SNAP) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he believes Snap's sequential user declines are likely to continue in Q4. 3. Fortinet (FTNT) double downgraded to Sell from Buy at Goldman Sachs with analyst Gabriela Borges saying the drivers of Fortinet's share gain and margin expansion are now better understood, with consensus 2019 estimates having been revised up over the past 12 months. 4. eBay (EBAY) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he sees better opportunities with other names in Internet given uncertainty around eBay's growth and margin expansion, specifically the company's ability to deliver low-to-mid single digit growth on reduced ad spend. 5. Halcon Resources (HK), Chesapeake (CHK), and Southwestern Energy (SWN) were downgraded to Underperform from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/19
BARD
01/14/19
NO CHANGE
Target $39
BARD
Outperform
eBay survey matching broader e-commerce trends, says Baird
Baird analyst Colin Sebastian said his proprietary tracker shows eBay had a slightly better than anticipated November. Early December volumes were healthy, but there was a steeper slowdown in the second half of the month relative to historical trends. The analyst said this is consistent with other holiday e-commerce checks and data points. Sebastian reiterated his Outperform rating and lowered his price target to $39 from $41 on eBay shares.
UAA Under Armour
$20.50

0.47 (2.35%)

01/22/19
GSCO
01/22/19
UPGRADE
Target $28
GSCO
Conviction Buy
Under Armour upgraded to Conviction Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis upgraded Under Armour (UAA) to Buy and raised her price target for the shares to $28 from $24. The analyst also added the shares to her firm's Conviction List.
01/04/19
BARD
01/04/19
NO CHANGE
Target $29
BARD
Outperform
Under Armour selloff clears path for outperformance in 2019, says Baird
Baird analyst Jonathan Komp said the late-year selloff for Under Armour has cleared the path for outperformance in 2019. The analyst said the company set a very achievable/beatable bar at its analyst day, but the shares received an underwhelming response. He said 2019 should mark the final year in its three-year turnaround plan and that its shift toward a more balanced long-term growth outlook emphasizes margin improvement and restoring a premium positioning within North America. Komp reiterated his Outperform rating and $29 price target on Under Armour shares.
01/10/19
OTRG
01/10/19
UPGRADE
OTRG
Mixed
Under Armour upgraded to Mixed from Negative at OTR Global
01/22/19
GSCO
01/22/19
UPGRADE
Target $28
GSCO
Conviction Buy
Goldman upgrades Under Armour to Conviction Buy, sees 37% share upside
Goldman Sachs analyst Alexandra Walvis upgraded Under Armour (UAA) to Buy and raised her price target for the shares to $28 from $24. The analyst also added the shares to her firm's Americas Conviction List. Under Armour's gross margins have inflected positively and are set to "expand materially" as the company executes quality of sale initiatives while also benefiting from mix shifts towards international markets and direct-to-consumer, Walvis tells investors in a research note. She's encouraged by the company's recent progress on cost and inventory management and views the stock's current valuation as attractive. Walvis sees 37% upside in Under Armour shares.
UA Under Armour
$18.57

0.44 (2.43%)

12/31/18
PIPR
12/31/18
NO CHANGE
Target $30
PIPR
Overweight
Piper favors Nike, Under Armour, Ulta, Crocs and Funko as 2019 brand ideas
Piper Jaffray analyst Erinn Murphy lowered her price targets across the Global Lifestyle Brands group to reflect the recent market volatility. The analyst, however, feels good about the Holiday while remaining "wary on multi-brand retailers on a longer-term basis." Murphy favors Nike (NKE), Under Armour (UAA), Ulta Beauty (ULTA), Crocs (CROX) and Funko (FNKO) as 2019 ideas. She sees Under Armour as one of the better names to own into 2019 with "what still appears to be a healthy amount of skepticism around the stock." Management's 2019 targets will ultimately prove conservative and upside should continue throughout the year, Murphy tells investors in a research note. The analyst keeps an Overweight rating on Under Armour but lowered her price target for the shares to $30 from $32. She cut targets on 15 names in the Global Lifestyle Brands space, including Underweight-rated e.l.f. Beauty (ELF) to $8 from $10, Overweight-rated G-III Apparel (GIII) to $40 from $50, Overweight-rated PVH Corp. (PVH) to $140 from $150, Overweight-rated Ulta Beauty to $295 from $320 and Overweight-rated VF Corp. (VFC) to $91 from $104.
ARNC Arconic
$20.35

0.17 (0.84%)

01/14/19
JPMS
01/14/19
DOWNGRADE
Target $22
JPMS
Neutral
Arconic downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Gambardella downgraded Arconic (ARNC) to Neutral and lowered his price target for the shares to $22 from $24. The analyst cites valuation for the downgrade. The shares are gradually pricing in a buyout, which is appropriate, Gambardella tells investors in a research note. Bloomberg on January 2 reported that Apollo Global (APO) in talks to buy Arconic for $22 per share.
12/20/18
12/20/18
UPGRADE
Target $24

Buy
Longbow upgrades Arconic to Buy after positive aerospace supplier survey
As previously reported, Longbow analyst Chris Olin upgraded Arconic to Buy from Neutral, stating that his survey of contacts in the tier-3 and tier-4 aerospace channel reported an accelerating top-line growth environment. Some smaller aerospace forging competitors are now facing constrained production capacity, which he believes could protect Arconic's aerospace & defense market share, Olin added. He also believes take-out speculation "offers a solid trading floor in the mid-$17/share range," the analyst tells investors. He set a $24 price target on Arconic shares.
12/20/18
LBOW
12/20/18
UPGRADE
LBOW
Buy
Arconic upgraded to Buy from Neutral at Longbow
01/14/19
01/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Delta Air Lines (DAL) downgraded to Neutral from Buy at BofA/Merrill with analyst Andrew Didora saying 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." 2. Illinois Tool Works (ITW) downgraded to Neutral from Buy at Citi with analyst Andrew Kaplowtiz saying the company's "overexposure" to "slowing" Europe is a risk. 3. Chevron (CVX) downgraded to Hold from Buy at HSBC with analyst Gordon Gray saying the scale of U.S. supply, and its responsiveness to any significant hike in price, will likely limit the price upside for crude. 4. Arconic (ARNC) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Gambardella citing valuation. 5. XPO Logistics (XPO) downgraded to Sector Weight from Overweight at KeyBanc with analyst Todd Fowler citing his view that the big and bulky final mile market is increasingly competitive, along with ongoing uncertainty around European end markets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
JNJ Johnson & Johnson
$130.65

1.54 (1.19%)

01/14/19
WELS
01/14/19
NO CHANGE
Target $152
WELS
Outperform
Johnson & Johnson price target lowered to $152 from $162 at Wells Fargo
Wells Fargo analyst Larry Biegelsen lowered his price target for Johnson & Johnson to $152 from $162 ahead of quarterly results. The analyst forecasts Q4 sales of $20.1B and EPS of $1.97, versus consensus of $20.2B and $1.95, respectively. For 2019, Biegelsen expects initial guidance to be conservative based on the company's track record, and J&J to continue to target earnings to grow faster than sales. The analyst sees 5%-6% operational EPS growth as "reasonable." He reiterates an Outperform rating on the shares.
01/04/19
BTIG
01/04/19
NO CHANGE
Target $17
BTIG
Buy
Veracyte price target raised to $17 from $15 at BTIG
BTIG analyst Sung Ji Nam raised his price target on Veracyte (VCYT) to $17 and kept the Buy rating on the shares after its announced long term partnership with Johnson & Johnson (JNJ) yesterday. The analyst says the collaboration aims to accelerate the development of the first nasal swab test for early lung cancer detection and involve the two companies sharing existing data and samples from clinical studies. Sung Ji Nam states that the deal should lead to acceleration of next -gen Percepta launch, adding that the nasal swab test development could quadruple the company's total addressable market value in the U.S. alone.
01/02/19
SBSH
01/02/19
NO CHANGE
SBSH
Citi makes four rating changes in Medical Devices, 'warning up' to J&J
Citi analyst Amit Hazan issued his 2019 preview for Medical Devices, which included four rating changes. The analyst upgraded both Zimmer Biomet (ZBH) and Baxter International (BAX) to Buy from Neutral, downgraded Medtronic (MDT) to Neutral from Buy and downgraded Abbott Laboratories (ABT) to Sell from Neutral. He also kept Buy ratings on Intuitive Surgical (ISRG) and Boston Scientific (BSX), but adds he's "relatively more cautious." Further, Hazan kept a Sell rating on Edwards Lifesciences (EW) and says he's "warming up" to Neutral-rated Johnson & Johnson (JNJ). The analyst expects "fairly stable" fundamentals for the group in 2019, with "modest slowdowns" in organic sales and earnings growth.
01/04/19
CANT
01/04/19
NO CHANGE
Target $100
CANT
Overweight
Cantor Fitzgerald analysis suggests others could bid for Celgene
Cantor Fitzgerald analyst Alethia Young reiterates an Overweight rating on Celgene (CELG) with a $100 price target after the company reached an agreement to be acquired by Bristol-Myers Squibb (BMY). Bristol "likely got a good deal, although Celgene has intellectual property and pipeline uncertainties that are key moving pieces," Young tells investors in a research note. Her estimated net present value for Celgene is $80B, assuming some cost synergies, versus the $74B equity valuation in the Bristol deal, excluding the contingent value rights. Young's analysis indicates that companies like Amgen (AMGN) and Johnson & Johnson (JNJ) "could potentially achieve greater commercial synergies." However, the analyst thinks Celgene shareholders "may be satisfied with the current deal after quite a roller-coaster over the past 18 months."
TGTX TG Therapeutics
$4.51

0.095 (2.15%)

09/25/18
RAJA
09/25/18
DOWNGRADE
RAJA
Outperform
TG Therapeutics downgraded to Outperform from Strong Buy at Raymond James
09/26/18
HCWC
09/26/18
NO CHANGE
Target $21
HCWC
Buy
TG Therapeutics price target lowered to $21 from $38 at H.C. Wainwright
H.C. Wainwright analyst Edward White lowered his price target for TG Therapeutics to $21 after the company announced that the independent Data Safety Monitoring Board for the ongoing Phase 3 UNITY-CLL trial in chronic lymphocytic leukemia patients advised the company that interim overall response rate analysis could not be conducted at this time due to the data not being sufficiently mature to conduct the analysis. The analyst pushed back the timing of his expectations of the launch for chronic lymphocytic leukemia to early 2021 from late 2019 and lowered the probability of success to 45% in the CLL indication from 55%. He keeps a Buy rating on TG Therapeutics.
09/26/18
RHCO
09/26/18
NO CHANGE
Target $30
RHCO
Buy
TG Therapeutics price target lowered to $30 from $35 at SunTrust
SunTrust analyst Peter Lawson lowered his price target on TG Therapeutics to $30 after the announcement that the independent Data Safety Monitoring Board for the ongoing Phase 3 UNITY-CLL trial in chronic lymphocytic leukemia, or CLL, patients advised that the data "was not mature enough" to read out the overall response rate. The analyst says the company has decided to not seek accelerated approval, which could delay market entry, focusing instead on the Progression-Free Survival endpoint to support approval. While Lawson remains bullish on the stock and maintains his Buy rating, he notes that his revised price target reflects the lower probability of success in the CLL program.
01/07/19
RILY
01/07/19
INITIATION
Target $10
RILY
Buy
TG Therapeutics resumed with a Buy at B. Riley FBR
B. Riley FBR analyst Harshita Polishetty resumed coverage on TG Therapeutics with a Buy and $10 price target.
MDWD MediWound
$4.39

-0.06 (-1.35%)

08/08/18
WELS
08/08/18
NO CHANGE
Target $11
WELS
Outperform
MediWound could be sold for 'substantially higher price,' says Wells Fargo
Wells Fargo analyst David Maris noted that MediWound's Chairman said on the company's earnings call that while the board previously thought it would have more clarity by its Q2 report on its previously disclosed consideration of a potential strategic transaction, the company is taking a "comprehensive and measured approach" as it is still in talks with several parties. If MediWound is able to conclude a strategic combination, it would be for "a substantially higher price" and one that contemplates cash flows beyond Maris' current assumptions, he stated. Maris keeps an Outperform rating and $11 price target on MediWound shares.
05/29/18
WELS
05/29/18
NO CHANGE
WELS
Outperform
MediWound may now be more attractive to potential buyers, says Wells Fargo
Wells Fargo analyst David Maris believes MediWound could be more attractive to a broader range of potential buyers, including those in the medical countermeasure space, after the FDA cleared the development pathway for NexoBrid for the debridement of skin injuries inflicted by chemical warfare agent sulfur mustard. The FDA also agreed to allow the development of NexoBrid in sulfur mustard wounds to rely on the chemistry, manufacturing and control data from NexoBrid's previous and ongoing development in burns, Maris points out. He views this as good news for MediWound and keeps an Outperform rating on the shares.
09/25/18
WELS
09/25/18
NO CHANGE
Target $11
WELS
Outperform
MediWound BARDA contract 'highly value-creating,' says Wells Fargo
Wells Fargo analyst David Maris estimates MediWound's new BARDA contract to develop NexoBrid for the treatment of Sulfur Mustard injuries should be worth approximately $1 per share. The analyst views the deal as an "endorsement of the promise" of NexoBrid and the potential for longer-term government contracts if approved. He currently does not model NexoBrid government sales but believes the size of the mass casualty preparedness market could rival the burn market. Overall, the contract from the U.S. Biomedical Advanced Research and Development Authority is a "highly value-creating deal," Maris tells investors in a research note. He keeps an Outperform rating on MediWound with an $11 price target.
EDU New Oriental Education
$65.91

1.755 (2.74%)

10/24/18
BNCH
10/24/18
NO CHANGE
Target $80
BNCH
Buy
New Oriental Education price target lowered to $80 from $105 at Benchmark
Benchmark analyst Fawne Jiang noted New Oriental Education reported mixed Q1, with better than expected revenue and an earnings shortfall caused mainly by higher operating expenses and online investments. She anticipates New Oriental will likely face near-term margin pressure due to costs associated with regulatory changes and ongoing investments and lowered her price target to $80 from $105, but keeps a Buy rating on the shares as Jiang remains positive on its top-line growth.
11/01/18
DBAB
11/01/18
DOWNGRADE
Target $55
DBAB
Hold
New Oriental Education downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Tallan Zhou downgraded New Oriental Education to Hold and lowered his price target for the shares to $55 from $105. The analyst expects "lingering margin pressure" following last week's Q1 results.
11/01/18
11/01/18
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. Pfizer (PFE) downgraded to Market Perform from Outperform at BMO Capital with analyst Alex Arfaei saying he maintains a positive view on the company longer-term but sees valuation at current levels reflecting its risk-reward profile. 2. Encana (ECA) downgraded to Underperformer from Neutral at CIBC. 3. New Oriental Education (EDU) downgraded to Hold from Buy at Deutsche Bank with analyst Tallan Zhou saying he expects "lingering margin pressure" following Q1 results. 4. Autoliv (ALV) downgraded to Neutral from Buy at Longbow with analyst Anthony Deem saying he sees the company's revenue growth being "very solid" through 2020 in mid-to-high single digit percentage territory, but he is less confident in positive operating leverage due to incremental cost overruns associated with new launches. 5. Aegion (AEGN) downgraded to Hold from Buy at Canaccord with analyst Chip Moore saying the company is a well positioned pipeline infrastructure play that is poised to benefit from attractive secular drivers longer-term, but the risk/reward is balanced at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/12/18
JPMS
11/12/18
NO CHANGE
Target $48
JPMS
Overweight
Chinese education sector selloff unwarranted, says JPMorgan
The results reported mid-year in the Chinese education sector have not deteriorated sufficiently to warrant the share price performance, JPMorgan analyst Leon Chik tells investors in a research note. The analyst points out that the average education company under his coverage is down 25%-30% since the end of May. He believes this may be due to greater uncertainty over the future due to a slowing economy and an increase in government regulations. New regulations provide short term challenges but help speed up market consolidation as larger operators can cope with changes better, Chik tells investors in a research note. The analyst's top after school tutorial picks are TAL Education (TAL) and New Oriental Education (EDU). He also has an Overweight rating on Bright Scholar Education (BEDU). Chik lowered his price target for TAL to $48 from $58, for New Oriental to $85 from $98 and for Bright Scholar to $15 from $20.
PETS PetMed Express
$23.45

-0.27 (-1.14%)

06/15/18
06/15/18
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. PetMed Express (PETS) initiated with a Neutral at CL King. 2. Cloudera (CLDR) initiated with a Reduce at Nomura Instinet. 3. Sarepta (SRPT) initiated with a Buy at BTIG. 4. Delphi Technologies (DLPH) initiated with a Perform at Oppenheimer. 5. Enerplus (ERF) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/09/18
CHLM
07/09/18
DOWNGRADE
Target $32
CHLM
Sell
PetMed Express downgraded to Sell from Hold at Craig-Hallum
Craig-Hallum analyst Kevin Ellich downgraded PetMed Express to Sell from Hold following the launch of Chewy Pharmacy by Chewy.com, which he thinks will result in potential market share loss, margin pressure and multiple contraction for PetMed. Noting that his price comparison shows Chewy Pharmacy is already competitive with PetMed Express, he lowered his estimates for FY19 and FY20 and cut his price target for PetMed shares to $32 from $38.
07/23/18
CHLM
07/23/18
NO CHANGE
CHLM
PetMed Express price target lowered to $29 from $32 at Craig-Hallum
Craig-Hallum analyst Kevin Ellich kept a Sell rating on PetMed Express and lowered his price target on shares to $29 from $32. Ellich said gross margin was "adversely impacted" by greater pricing discounts due to competition from smaller online retailers. The analyst also noted that Q1 results were mixed, with an EPS miss and "new customer additions were somewhat underwhelming."
10/22/18
CHLM
10/22/18
NO CHANGE
CHLM
Sell
PetMed Express new competition negatively impacts, says Craig-Hallum
Craig-Hallum analyst Kevin Ellich reiterated his Sell rating on PetMed Express and lowered his price target to $25 from $29 following the Q2 report. Ellich said PetMed beat, but increased competition negatively impact new customer sales and increased customer acquisition costs.
HAL Halliburton
$32.27

1.36 (4.40%)

01/17/19
COWN
01/17/19
UPGRADE
Target $35
COWN
Outperform
Cowen more positive on pressure pumping stocks, upgrades Halliburton
Cowen analyst Marc Bianchi upgraded Halliburton to Outperform from Market Perform to reflect his more positive stance on pressure pumping stocks. With relatively more focus toward U.S onshore activity, and in light of "significantly" lower investors expectations and more attractive valuations, the analysts is more positive on pressure pumping. He sees completion activity growing in Q2 and beyond driving improved utilization and margins. Bianchi lowered his price target for Halliburton shares to $35 from $45.
01/17/19
STFL
01/17/19
NO CHANGE
STFL
Stifel lowers Oilfield Services and Equipment estimates
Stifel analyst Stephen Gengaro said he expects overall E&P capital spending to be about flat in the U.S. market and he cut his forecast for U.S. drilling and completion activity based on the current WTI crude oil strip. He lowered his U.S rig count projections by 50 to 1,050 rigs in 2019 and by 100 to 1,150 rigs in 2020 and he cut his 2019 EBITDA forecast by roughly 10% on average. Based on the changes in estimates, Gengaro lowered his earnings expectations for the majority of the names he covers and cut his price targets on several. Among the largest target changes, he lowered his price target on Core Laboratories (CLB) to $86 from $110, cut his target on Emerge Energy (EMES) to $3 from $5, reduced his target on Halliburton (HAL) to $37 from $45 and trimmed his target on Superior Energy (SPN) to $5 from $9. Others in the space that Gengaro covers include Baker Hughes (BHGE), DMC Global (BOOM), Civeo (CVEO), Keane Group (FRAC), FTS International (FTSI), Liberty Oilfield Services (LBRT), National Oilwell (NOV), Oil States (OIS), Pioneer Energy (PES), ProPetro Holding (PUMP), RPC, Inc. (RES), Schlumberger (SLB), U.S. Silica (SLCA), Smart Sand (SND), Solaris Oilfield (SOI), Tenaris (TS), Tetra Technologies (TTI) and Weatherford (WFT).
12/28/18
WELS
12/28/18
NO CHANGE
WELS
Wells sees 'rocky times ahead' for Oil Services and Equipment market
Emerging data points suggest "rocky times ahead" for the North American Oil Services and Equipment market in early 2019, Wells Fargo analyst Judson Bailey tells investors in a research note. As oil prices and macro conditions have weakened to end 2018, a number of recent conversations suggest a "quickly deteriorating" outlook for exploration and production budgets, activity levels and pricing over the first few months of 2019, adds the analyst. He believes the case for "much needed consolidation" across the U.S. oilfield services landscape "has never been greater."
01/17/19
COWN
01/17/19
UPGRADE
COWN
Outperform
Halliburton upgraded to Outperform from Market Perform at Cowen
GPS Gap
$26.01

0.42 (1.64%)

01/22/19
GSCO
01/22/19
DOWNGRADE
Target $23
GSCO
Sell
Gap downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis downgraded Gap to Sell and lowered her price target for the shares to $23 from $27.
01/11/19
01/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Asset managers BlackRock (BLK), Eaton Vance (EV), Ivesco (IVZ), Affiliated Managers (AMG) and Legg Mason (LM) downgraded to Hold from Buy at Deutsche Bank, with analyst Brian Bedell saying their fundamentals are "unlikely to improve anytime soon." The analyst believes "investor neglect" toward the stocks should continue on fears of a market downturn, as well as due to poor fundamentals from product outflows and pressure on fee rates and operating margins. 2. Starbucks (SBUX) downgraded to Neutral from Buy at Goldman Sachs by analyst Karen Holthouse, saying she 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. The analyst also downgraded Yum! Brands (YUM) to Sell from Neutral. 3. Gap (GPS) downgraded to Underweight from Overweight at Barclays, with analyst Chethan Mallela saying he believes "challenging" traffic trends and "difficult" comparisons cloud visibility into the company's sales growth momentum. Further, the analyst believes the company's cost pressures will be larger than investors anticipate and pose risk to consensus estimates. 4. WW (WTW) downgraded to Neutral from Overweight at JPMorgan by analyst Christina Brathwaite, saying early in the year channel checks point to a weak start to 2019 for the company. The checks suggest traffic to WW''s website and engagement on its mobile app are down double-digit percentages year-over-year, the analyst added. 5. Hanesbrands (HBI) downgraded to Hold from Buy at Deutsche Bank, with analyst Tiffany Kanaga citing a deep dive of the company's international business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/22/19
GSCO
01/22/19
DOWNGRADE
Target $23
GSCO
Sell
Goldman downgrades Gap to Sell on deteriorating brand momentum
Goldman Sachs analyst Alexandra Walvis downgraded Gap to Sell from Neutral and lowered her price target for the shares to $23 from $27. Fundamentals for Gap's specialty brands have been weak for some time and a more aggressive portfolio rationalization at the Gap brand "will prove to be insufficient to reinvigorate the business," Walvis tells investors in a research note. The analyst also believes a "tougher than anticipated" holiday season can lead to disappointing results for Gap's value-based portfolio, outlet and Old Navy. Deteriorating brand momentum and elevated promotionality compound continued mall-based retailing pressures, says Walvis. She sees 12% downside in Gap shares versus 17% average upside for her Apparel & Accessories coverage.
01/16/19
FBCO
01/16/19
NO CHANGE
Target $50
FBCO
Neutral
Nordstrom price target lowered to $50 from $55 at Credit Suisse
Credit Suisse analyst Michael Binetti lowered his price target for Nordstrom (JWN) to $50 from $55 on weak full-price holiday adding to already clearance filled January. With Nordstrom adding to industry markdown issues, the analyst sees negative reads for J.C. Penney (JCP), Kohl's (KSS), Gap (GPS), but positive for Burlington Stores (BURL), Ross Stores (ROST), and TJX (TJX). Binetti reiterates a Neutral rating on Nordstrom shares.
CRSP Crispr Therapeutics
$37.21

1.22 (3.39%)

01/22/19
SBSH
01/22/19
DOWNGRADE
Target $21
SBSH
Sell
Citi downgrades Crispr Therapeutics to Sell with $21 price target
Citi analyst Yigal Nochomovitz downgraded Crispr Therapeutics to Sell from Neutral and cut his price target for the shares to $21 from $28. Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors, Nochomovitz tells investors in a research note. The analyst believes the company's CTX-001 is "at best equivalent" to more advanced competitors and "could have some important liabilities."
01/02/19
PIPR
01/02/19
NO CHANGE
Target $75
PIPR
Overweight
Crispr Therapeutics named a top pick for 2019 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff names Crispr Therapeutics a top pick for 2019 and reiterates an Overweight rating on the shares with a $75 price target. The stock closed the trading day up $1.30 to $29.87. Crispr is developing "revolutionary" CRISPR/Cas-9 technology as a new therapeutic modality with broad ranging applicability, Tenthoff tells investors in a research note. The Phase I/II studies of CTX-001 in transfusion-dependent beta thalassemia and sickle cell disease will report first-in-man data this year potentially curing patients of disease, adds the analyst.
01/22/19
SBSH
01/22/19
DOWNGRADE
SBSH
Sell
Crispr Therapeutics downgraded to Sell from Neutral at Citi
Citi analyst Yigal Nochomovitz downgraded Crispr Therapeutics to Sell.
12/20/18
PIPR
12/20/18
NO CHANGE
Target $75
PIPR
Overweight
Piper Jaffray encouraged by enthusiasm for Crispr Therapeutics' CTX-001
Piper Jaffray analyst Edward Tenthoff kept his Overweight rating and $75 price target, saying his interviews with hematologists indicate that the current standard-of-care hydroxyurea is poorly tolerated and offers "a huge opportunity" for emerging therapies. The analyst states that he is encouraged by "early enthusiasm based on the promise of CRISPR/Cas9 in SCD considering the company has yet to present any clinical data on CTX-001."

TODAY'S FREE FLY STORIES

MYL

Mylan

$28.61

0.44 (1.56%)

16:44
03/19/19
03/19
16:44
03/19/19
16:44
Initiation
Mylan initiated  »

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03/08/13
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ALTR

Altair

$37.68

-0.51 (-1.34%)

16:43
03/19/19
03/19
16:43
03/19/19
16:43
Initiation
Altair initiated  »

Altair initiated with a…

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MNK

Mallinckrodt

$23.19

0.49 (2.16%)

16:42
03/19/19
03/19
16:42
03/19/19
16:42
Initiation
Mallinckrodt initiated  »

Mallinckrodt initiated…

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  • 27

    Mar

LCI

Lannett

$8.05

0.17 (2.16%)

16:41
03/19/19
03/19
16:41
03/19/19
16:41
Initiation
Lannett initiated  »

Lannett initiated with a…

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16:40
03/19/19
03/19
16:40
03/19/19
16:40
General news
API crude inventories for week of March 15 »

API reports that crude…

JAZZ

Jazz Pharmaceuticals

$135.47

1.02 (0.76%)

16:40
03/19/19
03/19
16:40
03/19/19
16:40
Initiation
Jazz Pharmaceuticals initiated  »

Jazz Pharmaceuticals…

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  • 20

    Mar

NVRO

Nevro

$44.76

0.37 (0.83%)

16:39
03/19/19
03/19
16:39
03/19/19
16:39
Hot Stocks
Nevro suspends 2019 revenue guidance »

Nevro is suspending…

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  • 20

    Mar

  • 21

    Mar

NVRO

Nevro

$44.76

0.37 (0.83%)

16:39
03/19/19
03/19
16:39
03/19/19
16:39
Hot Stocks
Nevro CEO Rami Elghandour steps down, D. Keith Grossman to succeed »

Nevro announced that D.…

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  • 20

    Mar

  • 21

    Mar

ENDP

Endo

$8.78

0.19 (2.21%)

16:38
03/19/19
03/19
16:38
03/19/19
16:38
Initiation
Endo initiated  »

Endo initiated with a Buy…

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METC

Ramaco Resources

$5.67

0.09 (1.61%)

16:38
03/19/19
03/19
16:38
03/19/19
16:38
Hot Stocks
Ramaco Resources sees FY19 production of 2.0M tons of met coal »

The company said,…

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  • 20

    Mar

COST

Costco

$237.05

0.43 (0.18%)

16:38
03/19/19
03/19
16:38
03/19/19
16:38
Initiation
Costco initiated  »

Costco initiated with a…

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03/08/13
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03/06/13
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  • 16

    Apr

  • 16

    Apr

  • 30

    May

TRN

Trinity Industries

$22.46

-0.25 (-1.10%)

16:38
03/19/19
03/19
16:38
03/19/19
16:38
Conference/Events
Trinity Industries management to meet with Stephens »

Meeting to be held in Los…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 26

    Mar

COLL

Collegium Pharmaceutical

$17.35

-0.25 (-1.42%)

16:38
03/19/19
03/19
16:38
03/19/19
16:38
Initiation
Collegium Pharmaceutical initiated  »

Collegium Pharmaceutical…

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FULT

Fulton Financial

$16.07

-0.35 (-2.13%)

16:37
03/19/19
03/19
16:37
03/19/19
16:37
Hot Stocks
Fulton Financial raises quarterly dividend 1c to 13c per share »

Fulton Financial said its…

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METC

Ramaco Resources

$5.67

0.09 (1.61%)

16:36
03/19/19
03/19
16:36
03/19/19
16:36
Earnings
Ramaco Resources reports Q4 EPS 8c, consensus 6c »

Reports Q4 revenue…

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  • 20

    Mar

BDSI

BioDelivery Sciences

$4.94

0.03 (0.61%)

16:35
03/19/19
03/19
16:35
03/19/19
16:35
Initiation
BioDelivery Sciences initiated  »

BioDelivery Sciences…

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  • 04

    Apr

AMAG

Amag Pharmaceuticals

$12.46

0.01 (0.08%)

16:34
03/19/19
03/19
16:34
03/19/19
16:34
Initiation
Amag Pharmaceuticals initiated  »

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  • 19

    Mar

  • 23

    Mar

GCP

GCP Applied Technologies

$29.95

-0.475 (-1.56%)

16:34
03/19/19
03/19
16:34
03/19/19
16:34
Hot Stocks
GCP Applied Technologies names James Thompson VP, General Counsel and Secretary »

GCP Applied Technologies…

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  • 02

    May

KGJI

Kingold Jewelry

$0.89

0.0898 (11.22%)

16:33
03/19/19
03/19
16:33
03/19/19
16:33
Hot Stocks
Kingold Jewelry to file extension for Form 10-K »

Kingold Jewelry announced…

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BHC

Bausch Health

$26.29

1.745 (7.11%)

16:33
03/19/19
03/19
16:33
03/19/19
16:33
Initiation
Bausch Health initiated  »

Bausch Health initiated…

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TME

Tencent Music

$18.65

-0.48 (-2.51%)

16:32
03/19/19
03/19
16:32
03/19/19
16:32
Earnings
Tencent Music reports Q4 EPS 8c, consensus 8c »

Reports Q4 revenue $785M,…

03/08/13
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03/08/13
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  • 19

    Mar

AMRX

Amneal Pharmaceuticals

$14.41

0.07 (0.49%)

16:32
03/19/19
03/19
16:32
03/19/19
16:32
Initiation
Amneal Pharmaceuticals initiated  »

Amneal Pharmaceuticals…

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03/08/13
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  • 09

    May

TTGT

TechTarget

$16.86

-0.07 (-0.41%)

16:32
03/19/19
03/19
16:32
03/19/19
16:32
Hot Stocks
TechTarget CEO Cotoia sells over $134K in company shares »

TechTarget CEO Michael…

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  • 02

    Apr

  • 28

    May

FULT

Fulton Financial

$16.07

-0.35 (-2.13%)

16:32
03/19/19
03/19
16:32
03/19/19
16:32
Hot Stocks
Fulton Financial authorizes up to $100M share repurchase »

The board of directors of…

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LDOS

Leidos

$63.36

-0.13 (-0.20%)

16:31
03/19/19
03/19
16:31
03/19/19
16:31
Hot Stocks
Leidos awarded U.S. Army contract worth up to $25.5B »

Leidos has been awarded a…

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