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IBM

IBM

$132.07

-0.82 (-0.62%)

, PNC

PNC Financial

$124.33

-0.1 (-0.08%)

12:05
01/24/19
01/24
12:05
01/24/19
12:05

Aetna, Anthem, HCSC, PNC and IBM collaborate on blockchain-based ecosystem

Aetna (CVS), Anthem (ANTM), Health Care Service Corporation, PNC Bank (PNC) and IBM (IBM) announced a new collaboration to design and create a network using blockchain technology to improve transparency and interoperability in the healthcare industry. The aim is to create an inclusive blockchain network that can benefit multiple members of the healthcare ecosystem in a highly secure, shared environment. The goal is to allow the blockchain network to enable healthcare companies to build, share and deploy solutions that drive digital transformation in the industry. The collaboration members intend to use blockchain to address a range of industry challenges, including promoting efficient claims and payment processing, to enable secure and frictionless healthcare information exchanges, and to maintain current and accurate provider directories. Aetna, Anthem, HCSC, PNC Bank, and IBM are actively working to further define the initial use cases for the health utility network. The collaboration will add additional members to the network in the coming months including other health organizations, healthcare providers, startups, and technology companies.

IBM

IBM

$132.07

-0.82 (-0.62%)

PNC

PNC Financial

$124.33

-0.1 (-0.08%)

ANTM

Anthem

$265.61

-2.54 (-0.95%)

CVS

CVS Health

$64.93

-0.7 (-1.07%)

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IBM IBM
$132.07

-0.82 (-0.62%)

01/23/19
SBSH
01/23/19
NO CHANGE
Target $130
SBSH
Neutral
IBM price target raised to $130 from $125 at Citi
Citi analyst Jim Suva raised his price target for IBM to $130 saying the company started 2019 on a "positive note." After a disappointing 2018 when the stock declined 23%, IBM announced last night Q4 earnings and a 2019 outlook that surpassed expectations, Suva tells investors in a post-earnings research note. He believes IBM shares have been a "source of funds by investors" and would not be surprised to see a short term rally on last night's good news as longer term investors await the closing and integration of Red Hat. The analyst keeps a Neutral rating on IBM.
01/23/19
WELS
01/23/19
NO CHANGE
Target $140
WELS
Market Perform
IBM price target lowered to $140 from $155 at Wells Fargo
Wells Fargo analyst Ed Caso lowered his price target for IBM to $140 from $155 to reflect a lower market multiple and the lack of 2020-2021 share repurchase expected, offset by signs of further progress in its digital transition. The analyst reiterates a Market Perform rating on the shares.
01/23/19
BMOC
01/23/19
NO CHANGE
Target $147
BMOC
Market Perform
IBM price target raised to $147 from $145 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on IBM (IBM) to $147 after the company's better than expected Q4 revenues in its "three important business units of Cognitive, GBS and Tech Services." The analyst also contends that while the outlook for FY19 earnings was below consensus, he sees progress on revenues as more important for the company. Bachman adds that he remains constructive on the impact of IBM's pending Red Hat (RHT) deal improving its top line, but does not see the current valuation for IBM as sufficiently compelling for a more constructive view, keeping his Market Perform rating.
01/15/19
UBSW
01/15/19
NO CHANGE
Target $150
UBSW
Buy
IBM weakness a buying opportunity, says UBS
UBS analyst John Roy said the selloff in IBM appears to be overdone. The analyst believes the stock is reflecting some of the challenges the company is facing, but he expects the multiple to expand once its pending deals are closed. He believes 2019 could be a transitional year as its Red Hat deal closes, its software portfolio returns to organic growth, and its momentum in GBS remains strong. Roy reiterated his Buy rating and $150 price target on IBM shares.
PNC PNC Financial
$124.33

-0.1 (-0.08%)

01/07/19
01/07/19
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 Perform from Outperform at Oppenheimer with analyst Rick Schafer citing the current "semiconductor correction" as well as "continued negative" smartphone news. 2. Snap (SNAP) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying concerns around employee churn are playing out. 3. PNC Financial (PNC) downgraded to Neutral from Buy at Goldman Sachs with analyst Richard Ramsden saying commercial loan growth has fallen 7 percentage points and is likely to track industry growth rates more closely from here. 4. Quarterhill (QTRH) downgraded to Hold from Buy at Canaccord. 5. Urban Outfitters (URBN) downgraded to Neutral from Overweight at JPMorgan with analyst Matthew Boss saying he sees a "flattish comp downside scenario neutralizing the risk/reward profile." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/19
BOFA
01/10/19
DOWNGRADE
BOFA
Neutral
PNC Financial downgraded to Neutral from Buy at BofA/Merrill
01/10/19
BOFA
01/10/19
DOWNGRADE
BOFA
Neutral
PNC Financial downgraded to Neutral on fee outlook at BofA/Merrill
As previously reported, BofA/Merrill downgraded PNC Financial to Neutral from Buy and cut its price target to $127. Analyst Erika Najarian said PNC's asset management revenues, which account for 30% of fees, pose a risk to near-term outlook. Further, PNC's ownership in Blackrock provides 50% of its asset management revenues, and if Blackrock revenues miss due to weak Q4 markets, there is no offset to the impact in expenses.
01/17/19
RBCM
01/17/19
NO CHANGE
Target $150
RBCM
Top Pick
PNC Financial price target lowered to $150 from $155 at RBC Capital
RBC Capital analyst Gerard Cassidy lowered his price target on PNC Financial to $150, saying its Q4 results were weaker than expected as fee based revenues tracked below expectations and credit costs were "elevated". The analyst keeps his Top Pick rating on the shares however, anticipating PNC Financial to deliver average loan growth of 3%-4% this year with positive operating leverage. Cassidy adds that the bank is "well positioned for rising interest rates" with its balance sheet more tethered to the short end of the Treasury yield curve, along with continued focus on reducing operating expenses and high levels of recurring revenues.
ANTM Anthem
$265.61

-2.54 (-0.95%)

01/03/19
EVER
01/03/19
UPGRADE
EVER
Outperform
Anthem upgraded to Outperform on elevated growth at Evercore ISI
As previously reported, Evercore ISI upgraded Anthem to Outperform from In Line. Analyst Ross Muken expects Anthem to have elevated growth into 2020 and beyond from the PBM launch, with potential earnings upside outweighing any transaction delays. The analyst also expects increased visibility into services and vertical integration strategies at the March investor day.
01/15/19
PIPR
01/15/19
NO CHANGE
Target $312
PIPR
Overweight
UnitedHealth positioned to outperform in 2019, says Piper Jaffray
Piper Jaffray analyst Sarah James said there "was so much focus" on UnitedHealth's (UNH) earnings call on its medical loss ratio, or MLR, that it pressured the stock early in the day, but she is not concerned. When accounting for adjustments and if one accounts for some Medicaid pressure, UnitedHealth had some improvement in MA or commercial, which could be positive for Humana (HUM) or Anthem (ANTM), according to James. UnitedHealth was also clear in post call conversation that Medicaid headwinds in 2018/19 were largely company specific, which James said leaves her feeling good heading into earnings from Centene (CNC), Molina Healthcare (MOH) and WellCare (WCG). She reiterates her Overweight rating on UnitedHealth, as James sees potential for upside to her earnings estimates and believes the stock is positioned to outperform the group in 2019 as investors move to safer positions.
01/14/19
SPHN
01/14/19
INITIATION
Target $310
SPHN
Overweight
Anthem initiated with an Overweight at Stephens
Stephens analyst Scott Fidel initiated coverage of 11 Managed Care and Healthcare Facilities stocks, telling investors that overall he is constructive on managed care and selective on hospitals. He started Anthem with an Overweight rating and $310 price target, calling the $4B in gross savings it will realize from insourcing its pharmacy benefits management contract the "most powerful company-specific tailwind" in his coverage group. He also believes the 9% pullback in the stock over the past month has created an attractive entry point, Fidel added.
01/24/19
ARGS
01/24/19
INITIATION
Target $333
ARGS
Buy
Anthem initiated with a Buy at Argus
Argus initiated Anthem with a Buy and $333 price target.
CVS CVS Health
$64.93

-0.7 (-1.07%)

01/16/19
MSCO
01/16/19
NO CHANGE
MSCO
Morgan Stanley says UnitedHealth, Walgreens could benefit from CVS-Walmart fight
After CVS Health (CVS) announced Walmart (WMT) will leave Caremark's commercial and Managed Medicaid retail pharmacy networks at the end of April 2019, analysts at Morgan Stanley discussed the potential impact of the fight to both companies and to competitors. Analyst Ricky Goldwasser said the dispute "brings back memories" of the Express Scripts (ESRX) and Walgreens (WBA) breakup in 2011, but unlike in that case it is only the early days of the 2019/2020 selling season, not after the selling season concluded. Walmart's plans to leave should have a limited impact on CVS' FY19 EPS power, but adds uncertainty to PBM selling season if not resolved in the near-term, said Goldwasser. Morgan Stanley's Simeon Gutman said that if the dispute is not resolved, it could end up reducing Walmart's EBIT by about $260M in 2019, which he estimates could have a 7c, or 1.5%, impact on EPS. In terms of who may benefit if no resolution is reached, the team estimates both Walgreens and CVS retail could gain an incremental 25 bps of pharmacy share and that UnitedHealth's (UNH) Optum and Cigna (CI) could see a step up in PBM selling season win rates. However, given Walmart's relatively low share, they view the PBM share opportunity as "minimal."
01/24/19
JEFF
01/24/19
NO CHANGE
JEFF
Jefferies finds nine more Rx licenses for PillPack facility in Arizona
Jefferies analyst Brian Tanquilut says his monthly checks with state boards of pharmacy reveal that PillPack's Arizona facility has been granted nine additional prescription licenses. The analyst expects Amazon (AMZN) will continue to pursue Rx licenses for PillPack's Arizona pharmacy in all the remaining states over the next six months. However, the company will still have to acquire or build a few more mail pharmacies and grow capacity before being able to go live with a consumer pharmacy offering, Tanquilut tells investors in a research note. Further, his monthly webscrape of Amazon's healthcare-related private label products indicates that the company's Solimo offering's growth accelerated significantly month-over-month in January. On private label over-the-counter drugs, Walgreens Boots Alliance (WBA) remains more expensive than Amazon's Basic Care offering, while CVS Health's (CVS) net prices are slightly more competitive due to higher discounting, Tanquilut says.
01/17/19
01/17/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tencent Music (TME) initiated with an Overweight at JPMorgan. 2. Craft Brew (BREW) initiated with a Buy at Maxim while Castle Brands (ROX) was initiated with a Hold. 3. CVS Health (CVS) and LabCorp (LH) were initiated with a Buy at UBS while Walgreens Boots Alliance (WBA) was initiated with a Sell. 4. DTE Energy (DTE) initiated with a Buy at Goldman Sachs while CMS Energy (CMS) was initiated with a Neutral. 5. Zendesk (ZEN) and HubSpot (HUBS) were initiated with an Overweight at Stephens while Adobe (ADBE) was initiated with an Equal Weight. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/17/19
UBSW
01/17/19
INITIATION
Target $75
UBSW
Buy
CVS Health initiated with a Buy at UBS
UBS analyst Kevin Caliendo started CVS Health with a Buy rating and $75 price target. Concerns around 2019 earnings guidance and the timing of the next positive catalyst have pushed CVS stock down to a "very appealing" risk/reward profile, Caliendo tells investors in a research stone.

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Dow Inc.

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Reed's

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SBUX

Starbucks

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Axalta Coating

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Starbucks

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Axalta Coating

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Ferrari

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STX

Seagate

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Western Digital

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Cleveland-Cliffs

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Argo Group

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Argo Group

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Illinois Tool Works

$152.18

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MDCO

The Medicines Co.

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Esperion

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Shutterfly

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Mondelez

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Wabco

$133.12

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$NSD

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Disney

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DIS

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USO

United States Oil Fund

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Size option block in US Oil Fund as shares slip »

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Transocean call volume above normal and directionally bullish »

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U.S. consumer sentiment improved to 97.2 in the final April reading »

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S&P 500

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Consumer Sentiment Index data reported »

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FII

Federated Investors

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