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AMTD

TD Ameritrade

$55.58

1.32 (2.43%)

, C

Citi

$62.64

1.04 (1.69%)

04:55
02/13/19
02/13
04:55
02/13/19
04:55

Credit Suisse to hold a forum

20th Annual Financial Services Forum will be held in Miami, FL on February 11-13.

AMTD

TD Ameritrade

$55.58

1.32 (2.43%)

C

Citi

$62.64

1.04 (1.69%)

CBOE

Cboe Global Markets

$94.08

-0.25 (-0.27%)

DFS

Discover

$69.73

1.86 (2.74%)

GS

Goldman Sachs

$194.49

3.1 (1.62%)

ICE

IntercontinentalExchange

$76.16

0.635 (0.84%)

KKR

KKR

$23.60

0.16 (0.68%)

NYCB

New York Community Bancorp

$11.95

0.13 (1.10%)

WETF

WisdomTree

$6.32

0.055 (0.88%)

WFC

Wells Fargo

$49.06

1.41 (2.96%)

SCA

Syncora Holdings

$25.25

(0.00%)

WAL

Western Alliance

$45.44

0.95 (2.14%)

LNC

Lincoln National

$60.50

1.32 (2.23%)

IMXI

International Money Express

$11.34

-0.26 (-2.24%)

IFC

Irwin Financial

$0.00

(0.00%)

TWO

Two Harbors

$14.00

-0.015 (-0.11%)

UBSH

Union Bankshares

$34.62

0.57 (1.67%)

GHL

Greenhill & Co.

$25.13

0.47 (1.91%)

BAC

Bank of America

$28.68

0.28 (0.99%)

ALLY

Ally Financial

$26.82

0.41 (1.55%)

ALL

Allstate

$92.95

0.37 (0.40%)

CG

Carlyle Group

$18.69

0.17 (0.92%)

RJF

Raymond James

$82.02

2.03 (2.54%)

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AMTD TD Ameritrade
$55.58

1.32 (2.43%)

01/29/19
MSCO
01/29/19
NO CHANGE
MSCO
Overweight
Morgan Stanley sees 'more to come' from discount brokers after strong Q4
Morgan Stanley analyst Michael Cyprys said the "strong" Q4 earnings reports from Charles Schwab (SCHW), E-Trade (ETFC) and TD Ameritrade (AMTD) showed that the discount brokers can grow revenues in a volatile, late-cycle backdrop. He increased his 2020 top-line estimates across the group, citing expectations for higher net interest margins and higher cash balances. Cyprys, who said the valuations in the group remain compelling on both an absolute and relative basis, keeps Overweight ratings on all three stocks mentioned. He raised his price target on Charles Schwab to $57 from $55, on E-Trade to $62 from $61 and on TD Ameritrade to $64 from $59.
11/30/18
GSCO
11/30/18
INITIATION
Target $60
GSCO
Neutral
TD Ameritrade initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Will Nance initiated coverage of the Online Brokers with an Attractive coverage view, stating that for the group on the whole he believes cyclical factors will drive fundamentals and valuation in the near term despite organic growth and pricing concerns. He started TD Ameritrade with a Neutral rating and $60 price target, stating that his estimates are roughly in-line with consensus. The bull thesis, that TD Ameritrade benefits the most in the group from more volatile markets and should see a multi-year increase in spread-based income, is largely reflected in consensus expectations, Nance believes.
01/22/19
MSCO
01/22/19
NO CHANGE
Target $57
MSCO
Overweight
Charles Schwab target raised to $57 ahead of winter update at Morgan Stanley
Morgan Stanley analyst Michael Cyprys said he has increased conviction in Charles Schwab (SCHW) shares after the company saw stronger organic deposit growth and broadly strong underlying growth metrics in Q4. He expects Charles Schwab to provide2019 guidance at the company's upcoming Winter Update on February 5 that should meet consensus expectations, but he also expects Schwab to beat those expectations over the course of 2019, as they havve done in prior years. He also expects Charles Schwab to give "more rational" pricing commentary this late in the cycle, which should support the stock and peers TD Ameritrade (AMTD) and E-Trade (ETFC), Cyprys tells investors. He raised his price target on Charles Schwab shares to $57 from $55 ahead of the update call and keeps an Overweight rating on the stock.
01/04/19
MSCO
01/04/19
NO CHANGE
MSCO
Morgan Stanley says buy TD Ameritrade ahead of earnings, negative on Virtu
Morgan Stanley analyst Michael Cyprys lowered his Q4 EPS estimates by 11% for the Asset Manager and Broker group given that the S&P 500 fell nearly 14% in the quarter, upending what had been a positive year for equity markets up until that point. For 2019, he favors the discount brokers - TD Ameritrade (AMTD), E-Trade (ETFC) and Charles Schwab (SCHW) - given their more defensive earnings profiles. Ahead of the Q4 earnings season he sees TD Ameritrade as "compelling" given its greater skew to trading revenues among the eBrokers, greater derivative mix and rising client cash levels, Cyprys tells investors. He also views concerns around commission price cuts as overdone as doe not expect Charles Schwab to cut, the analyst added. Ahead of Q4 reporting, Cyprys is negative on Virtu Financial (VIRT), as he thinks expectations are too high and notes the stock has recently outperformed.
C Citi
$62.64

1.04 (1.69%)

01/16/19
01/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Citi (C) downgraded to Hold from Buy at Standpoint Research. 2. Snap (SNAP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Mahaney citing the company's recent "mixed" pre-announcement and, more importantly, its latest disclosure of a "surprise" exit by its CFO Tim Stone who was on the job for less than a year. 3. Nordstrom (JWN) downgraded to Neutral from Conviction Buy at Goldman Sachs, to Neutral from Overweight at Atlantic Equities, and to Market Perform from Outperform at Telsey Advisory. 4. AB InBev (BUD) downgraded to Underperform from Hold at Jefferies with analyst Edward Mundy saying market share pressures, some of which have only recently become visible, will likely persist, and could lead to disappointment against high expectations of an emerging-led recovery. 5. HP Enterprise (HPE) downgraded to Equal Weight from Overweight at Morgan Stanley, while NetApp (NTAP) was downgraded to Underweight from Equal Weight. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/16/19
STPT
01/16/19
DOWNGRADE
STPT
Hold
Citi downgraded to Hold from Buy at Standpoint Research
01/25/19
OPCO
01/25/19
NO CHANGE
OPCO
Outperform
Bank stocks still 'resoundingly cheap,' says Oppenheimer
Oppenheimer analyst Chris Kotowski told investors in a research note that one reason he is so "incessantly bullish" on bank stocks is that investors "still so incessantly hate them." The stocks still remain resoundingly cheap at a 63% relative P/E multiple even though bank balance sheets are arguably the best they have ever been, and the business models decidedly less capital-intensive, he contends. He continues to recommend Outperform-rated Bank of America (BAC), CIT (CIT), Citi (C), Goldman (GS), Jefferies (JEF), Morgan Stanley (MS) and U.S. Bancorp (USB).
01/15/19
01/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Viacom (VIA, VIAB) upgraded to Buy from Hold at Pivotal Research with analyst Brian Wieser citing valuation. 2. Citi (C) upgraded to Outperform from Market Perform at BMO Capital with analyst James Fotheringham saying the bank's Q4 earnings and outlook were "just fine," but the stock trades "as if tragedy were nigh" at a 2-year forward multiple of 6.3-times earnings relative to the average historical valuation of 9.5-times. 3. Grainger (GWW) upgraded to Outperform from Neutral at Macquarie. 4. Helmerich & Payne (HP) upgraded to Overweight from Neutral at JPMorgan with analyst Sean Meakim saying while Helmerich is not immune from lower exploration and production spending, there is too much pessimism on the company's ability to sustain EBITDA in such an environment. 5. Akamai (AKAM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Keith Weiss citing his increased confidence in durable high single digit revenue growth and margins improving. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CBOE Cboe Global Markets
$94.08

-0.25 (-0.27%)

01/07/19
SDLR
01/07/19
UPGRADE
Target $115
SDLR
Buy
Cboe Global Markets upgraded to Buy on volatility benefits at Sandler O'Neill
As previously reported, Sandler O'Neill analyst Richard Repetto upgraded Cboe Global Markets to Buy from Hold, stating that he believes the recent increase in volatility, which has benefits to Cboe, has a "good chance" of sustaining over the moderate term. Proprietary product volume increases in December Q4 have been the second best since February and Q1, though the stock is trading at its lowest multiple levels since 2013, Repetto noted. He has a $115 price target on Cboe shares.
09/07/18
WELS
09/07/18
NO CHANGE
Target $115
WELS
Outperform
Cboe risk/reward attractive heading into fall, says Wells Fargo
Wells Fargo analyst Christopher Harris believes the VIX complex volumes bottomed in August, creating and attractive risk/reward for shares of Cboe Global Markets (CBOE) heading into the fall. Supporting data include steadily rising open interest trends, recent improvement in volume trends and better VIX exchange-traded product flows, Harris tells investors in a research note. In addition, Cboe's relative valuation versus CME Group (CME) "has rarely been this low," the analyst adds. He keeps an Outperform rating on Cboe Global Markets with a $115 price target.
01/04/19
GSCO
01/04/19
UPGRADE
GSCO
Conviction Buy
Cboe Global Markets upgraded to Conviction Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Alexander Blostein upgraded Cboe Global Markets to the Conviction Buy List from Neutral with a $120 price target citing material share underperformance in 2018 versus peers. Blostein said VIX options/futures volumes are now within a range that will be less of a drag and investor's expectations have been reset. The analyst sees SPX options as a source of upside due to share gains, increased market volatility, growth for the first time in years in both weekly and monthly contracts, and cyclically higher vol which creates opportunities for pricing increases.
01/07/19
SDLR
01/07/19
UPGRADE
SDLR
Buy
Cboe Global Markets upgraded to Buy from Hold at Sandler O'Neill
DFS Discover
$69.73

1.86 (2.74%)

01/25/19
BMOC
01/25/19
NO CHANGE
Target $85
BMOC
Market Perform
Discover price target lowered to $85 from $95 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on Discover (DFS) to $85 and kept his Market Perform rating after its Q4 earnings miss driven by higher than expected costs. The analyst states that the company's peers such as Capital One (COF) and Synchrony (SYF) offer "much greater potential valuation", with Discover on the "wrong side of growth math" relative to those names. Fotheringham also warns about potential negative credit surprises as Discover is accelerating its loan growth despite a decelerating overall market.
10/02/18
JPMS
10/02/18
UPGRADE
Target $89
JPMS
Overweight
Discover upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Richard Shane upgraded Discover Financial (DFS) to Overweight and raised his price target for the shares to $89 from $81. The company appears on track to execute a "soft landing" as loan growth stabilizes, Shane tells investors in a research note. The analyst says credit has outperformed expectations while multiples in the Credit Card space have compressed. This creates a more attractive opportunity for investment, according to Shane. He also raised his price target for Overweight-rated Capital One (COF) to $113 from $109 and for Neutral-rated American Express (AXP) to $115 from $105.
10/02/18
10/02/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discover (DFS) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Shane saying the company appears on track to execute a "soft landing" as loan growth stabilizes. 2. At Home Group (HOME) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Fassler saying recent sales misses, tariff concerns, and macro data have created investor concerns and a "steep discount" in the shares relative to other growth retailers. 3. Nestle (NSRGY) upgraded to Buy from Hold at Jefferies with analyst Martin Deboo saying he's more bullish on the new CEO and the shares into the second half of the year. 4. Urban Outfitters (URBN) upgraded to Buy from Neutral at B. Riley FBR with analyst Susan Anderson saying she expects high consumer confidence to support strong same-store-sales for Urban and she views the shares as undervalued. 5. General Electric (GE) upgraded to Outperform from Sector Perform at RBC Capital with analyst Deane Dray saying he believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/18
WBLR
10/16/18
NO CHANGE
WBLR
Outperform
Discover undervalued on 'misplaced' credit concerns, says William Blair
The credit concerns that have been weighing on Discover Financial Services' valuation multiple are "misplaced" considering the company's return on equity outlook, "stabilizing" credit trends and "very low" unemployment claims, William Blair analyst Robert Napoli tells investors in a research note. The analyst believes credit has been well controlled and that Discover has significant long-term growth opportunities in its core card and student loan businesses. He finds the stock undervalued and current levels and keeps an Outperform rating on the name.
GS Goldman Sachs
$194.49

3.1 (1.62%)

02/01/19
02/01/19
DOWNGRADE

Sell
Societe Generale downgrades Goldman Sachs, Morgan Stanley to Sell
As previously reported, Societe Generale analyst Andrew Lim downgraded Goldman Sachs (GS) and Morgan Stanley (MS), both to Sell from Hold, citing his view that the credit cycle deterioration "has already been set in motion" and that it will pay to be defensive for the rest of 2019. Goldman and Morgan are much more exposed to pressure on market-sensitive revenues as purer investment banks, Lim tells investors. He does not have any Buy ratings on big U.S. banks, but continues to favor holding positions in Bank of America (BAC) and JP Morgan (JPM), which Lim views as the most defensive large cap U.S. banks, he tells investors.
02/01/19
SOCG
02/01/19
DOWNGRADE
SOCG
Sell
Goldman Sachs downgraded to Sell from Hold at Societe Generale
Societe Generale analyst Andrew Lim downgraded Goldman Sachs to Sell from Hold.
01/17/19
BMOC
01/17/19
NO CHANGE
Target $262
BMOC
Market Perform
Goldman Sachs price target lowered to $262 from $276 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on Goldman Sachs to $262 and kept his Market Perform rating after its Q4 results, saying that while it beat on revenues, its non-comp expenses are seen rising. The analyst adds that he is "gratified" by the "value-restoring" rebound in bank stocks after the December rout and anticipates "relatively benign system-wide fundamental credit quality over the next two years." Fotheringham also lowers his FY19 EPS view by 1% to $24.85 to reflect his outlook for higher expenses, stating that other large -cap banks, specialty lenders, and financial technology stocks offer investors a "greater opportunity".
ICE IntercontinentalExchange
$76.16

0.635 (0.84%)

01/22/19
SBSH
01/22/19
NO CHANGE
SBSH
Citi upgrades ICE to Buy, puts 'Upside Catalyst Watch' on CME
Citi analyst Ben Herbert upgraded IntercontinentalExchange (ICE) to Buy from Neutral and raised his price target for the shares to $86 from $80. The analyst also placed a "30 Day Upside Catalyst Watch" on his top pick CME Group (CME). He lowered his price target for those shares to $210 from $220 and keeps a Buy rating on the name. On IntercontinentalExchange, the analyst sees a more attractive valuation following the recent pullback and a more favorable volume outlook in 2019. Further, he thinks Data momentum drives an upward bias to revenue estimates in 2019 and 2020. For CME, Herbert expects a favorable NEX Group update relating to margins and revenue opportunities when the company reports Q4 earnings.
01/22/19
SBSH
01/22/19
UPGRADE
SBSH
Buy
IntercontinentalExchange upgraded to Buy from Neutral at Citi
Citi analyst Ben Herbert upgraded IntercontinentalExchange to Buy.
01/29/19
DBAB
01/29/19
NO CHANGE
DBAB
Exchange stocks should be bought on any weakness, says Deutsche Bank
Deutsche Bank analyst Brian Bedell recommends buying the stock of Exchanges on any weakness. There may some additional downside risk upon earnings reports as investors revise Q1 estimates down to reflect the slow volume start to the year, Bedell tells investors in a research note. However, he recommends using any weakness as a buying opportunity given his view that the exchange stocks are best positioned to outperform in the later stages of a market cycle.
01/22/19
01/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Under Armour (UA, UAA) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Alexandra Walvis saying 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. 2. Nike (NKE) upgraded to Outperform from Market Perform at Cowen with analyst John Kernan saying he views Nike's gross margin improvement and speed initiatives as key catalysts to near-term and multi-year upside to margins. 3. IntercontinentalExchange (ICE) upgraded to Buy from Neutral at Citi. 4. TechnipFMC (FTI) upgraded to Neutral from Underperform at Exane BNP Paribas. 5. Cars.com (CARS) upgraded to Buy from Neutral at BTIG with analyst Marvin Fong citing the company's announcement that it is reviewing its strategic alternatives that includes a potential sale last week. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
KKR KKR
$23.60

0.16 (0.68%)

01/04/19
GSCO
01/04/19
DOWNGRADE
Target $27
GSCO
Buy
KKR downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein removed KKR from his firm's Americas Conviction List but keeps a Buy rating on the name. The analyst thinks the more challenging macro backdrop will likely be a headwind for the company's near-term cash earnings growth and book value growth. He still sees "significant upside" to his $27 12-month price target, but cautions that the "near-term path is less certain."
01/04/19
GSCO
01/04/19
DOWNGRADE
Target $93
GSCO
Neutral
T. Rowe Price downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein downgraded T. Rowe Price (TROW) to Neutral with a $93 price target. The analyst also removed the shares of KKR (KKR) and IntercontinentalExchange (ICE) from his firm's Americas Conviction List, but keeps Buy ratings on both. Blostein continues to view T. Rowe as "one of the strongest active management franchises" in a challenging environment for traditional asset managers, but he believes "risks to the stock are building." Flows are likely to decelerate "meaningfully" as T. Rowe's three-year excess returns in parts on equities and particularly in fixed income are declining and broader retail rotation out of equities remains a risk, the analyst tells investors in a research note.
11/19/18
LEER
11/19/18
NO CHANGE
Target $42
LEER
Market Perform
Acadia selloff appears 'overdone,' says Leerink
Leerink analyst Ana Gupte views Acadia (ACHC) as being oversold after the CNBC newsflow on Friday around the issues ongoing with the sale process to KKR (KKR). The analyst notes that it is unclear to her if the strategic leak to CNBC is coming from the company itself to signal the end of the current sale process, or is a move from the current potential buyers in pursuit of a lower price. Gupte reiterates a Market Perform rating and $42 price target on Acadia shares.
10/26/18
ARGS
10/26/18
UPGRADE
Target $28
ARGS
Buy
KKR upgraded to Buy at Argus on valuation
As reported earlier, Argus analyst Stephen Biggar upgraded KKR to Buy from Hold with a price target of $28. The analyst says the pullback in the company's stock price is unwarranted, with its latest Q3 earnings beating expectations amid "continued healthy growth in fees and performance-related income". Biggar adds that the recent "market turbulence" will offer the company opportunities to deploy its "substantial cash holdings" in assets with future monetizations. The analyst further stated that its valuation premium to other alternative asset managers is "warranted by KKR's greater liquidity following its conversion to corporate status".
NYCB New York Community Bancorp
$11.95

0.13 (1.10%)

02/06/19
UBSW
02/06/19
UPGRADE
Target $15
UBSW
Buy
New York Community Bancorp upgraded to Buy from Neutral at UBS
UBS analyst Brock Vandervliet upgraded New York Community Bancorp to Buy and raised his price target for the shares to $15 from $10. Following the Q4 earnings report, the analyst has greater conviction in the "funding picture." Better debt repricing dynamics drive his estimates for New York Community higher. The company's overall financial performance should improve significantly as a net interest margin inflection coincides with a sharply lower expense base, Vandervliet tells investors in a research note.
02/06/19
02/06/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Market Perform from Underperform at Raymond James. 2. Skyworks (SWKS) upgraded to Buy from Neutral at Goldman Sachs with analyst Toshiya Hari saying he believes smartphone build plans are stabilizing and forming a bottom and he expects fundamentals in the mobile space to improve in late 2019 and into 2020 with the introduction of 5G phones. 3. New York Community Bancorp (NYCB) upgraded to Buy from Neutral at UBS with analyst Brock Vandervliet saying he has greater conviction in the "funding picture." 4. BP (BP) upgraded to Buy from Hold at DZ Bank. 5. Vodafone (VOD) upgraded to Buy 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.
01/10/19
LEHM
01/10/19
NO CHANGE
LEHM
Barclays upgrades Mid-Cap Banks industry to Positive from Neutral
Barclays analyst Matthew Keating upgraded his view on the U.S. Mid-Cap Banks industry to Positive from Neutral. There seems to be a lot less enthusiasm for the banks this year, Keating tells investors in a research note. The focus this year is on rising trade tensions, slowing global growth, and chance of a recession, says the analyst. However, he believes the slide in bank stock sentiment creates opportunities for investors "willing to withstand some volatility in the near term." Along with the sector, Keating upgraded Synovus Financial (SNV) and Texas Capital (TCBI) to Overweight from Equal Weight and Bank OZK (OZK) and People's United Financial (PBCT) to Equal Weight from Underweight. Based on his relative ratings system, he downgraded Prosperity Bancshares (PB) to Equal Weight from Overweight and New York Community Bancorp (NYCB) to Underweight from Equal Weight.
02/06/19
UBSW
02/06/19
UPGRADE
UBSW
Buy
New York Community Bancorp upgraded to Buy from Neutral at UBS
WETF WisdomTree
$6.32

0.055 (0.88%)

07/31/18
07/31/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. JEFFERIES UPS RATING, TARGET FOR CHIPOTLE: Jefferies analyst Andy Barish upgraded Chipotle Mexican Grill (CMG) to Buy from Hold and raised his price target for the shares to $550 from $400. Barish believes Chipotle is one of the better positioned companies to benefit from the ongoing shift to digital/off-premise. The company's operations are now poised to again handle increased volume and throughput, the analyst contended. Further, he believes new management's plans are "credible" and should help drive results in 2019 and beyond. The analyst called the stock a top mid-cap pick. NOMURA UPGRADES TWITTER TO NEUTRAL: Nomura Instinet analyst Mark Kelley upgraded Twitter (TWTR) to Neutral from Reduce with an unchanged price target of $31. After selling off 27% since the Q2 earnings report on July 27, expectations have been appropriately reset, Kelley told investors. The analyst believes Twitter's investments to clean up the platform will prove a longer term positive and lead to a more engaged user base. BARCLAYS PREFERS DEERE TO CATERPILLAR: Barclays analyst Adam Seiden downgraded Caterpillar (CAT) to Equal Weight from Overweight and lowered his price target for the shares to $155 from $170. The company's largest end-markets are no longer at trough, and the analyst believes Caterpillar's second half of 2018 price initiatives, directed towards offsetting supply chain and materials cost increases, will limit its ability to expand margins. The analyst prefers shares of Deere (DE) and CNH Industrial (CNH), which he says are at similar valuations but are earlier in their market cycles. CITI SAYS SELL WISDOMTREE: Citi analyst William Katz placed a low probability on Franklin Resources (BEN) acquiring WisdomTree (WETF), and downgraded WisdomTree to Sell, lowering his price target for the shares to $7 from $10. The analyst downgraded the shares to Neutral on July 13. Katz believes WisdomTree's price-to-earnings multiple can further contract amid mixed flow dynamics and flat earnings growth prospects out to 2020. JPMORGAN SAYS GOPRO MAY SEE SHORT SQUEEZE: JPMorgan analyst Paul Coster believes "muted" expectations and elevated short-interest could position GoPro (GPRO) shares for a "short squeeze" rally after the company's Q2 results. The analyst expects the company to post an in-line quarter. GoPro must entice existing users to upgrade to a new flagship camera expected to be released in early Q4, and convert new users for a product category that "feels a bit long in the tooth now," Coster said. He lowered his price target for GoPro shares to $7 from $8 and kept a Neutral rating on GoPro.
02/04/19
SBSH
02/04/19
DOWNGRADE
Target $4
SBSH
Sell
WisdomTree downgraded to Sell from Neutral at Citi
Citi analyst William Katz downgraded WisdomTree Investments to Sell and cut his price target for the shares to $4 from $7. The company reported "disappointing" Q4 results and expense guidance, Katz tells investors in a research note. To reflect higher compensation, lower margins and further fee rate pressure, the analyst dropped his 2019 and 2020 earnings estimates by 32%.
12/18/18
SBSH
12/18/18
UPGRADE
Target $6.5
SBSH
Neutral
Citi upgrades both WisdomTree, Federated Investors to Neutral from Sell
Citi analyst William Katz upgraded both WisdomTree Investments (WETF) and Federated Investors (FII) to Neutral from Sell and raised his price target for the former to $6.50 from $6.00 and for the latter to $24 from $21. For WisdomTree, the analyst sees improving organic growth and a more balanced risk/reward at current share levels. However, he wants to see a "sustained pick up in flows" before recommending the shares with a Buy rating. For Federated, the analyst's upgrade reflects a more constructive money market outlook and less negative view of long-term flows. However, Katz remains on the sidelines pending a more "decisive upturn" in the company's long-term flows.
12/18/18
SBSH
12/18/18
UPGRADE
SBSH
Neutral
WisdomTree upgraded to Neutral from Sell at Citi
Citi analyst William Katz upgraded WisdomTree to Neutral.
WFC Wells Fargo
$49.06

1.41 (2.96%)

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
RBCM
Sector Perform
Wells Fargo upgraded to Sector Perform from Underperform at RBC Capital
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.
01/08/19
WOLF
01/08/19
DOWNGRADE
WOLF
Peer Perform
Wells Fargo downgraded to Peer Perform from Outperform at Wolfe Research
SCA Syncora Holdings
$25.25

(0.00%)

WAL Western Alliance
$45.44

0.95 (2.14%)

10/23/18
RHCO
10/23/18
NO CHANGE
Target $63
RHCO
Buy
Western Alliance price target lowered to $63 from $70 at SunTrust
SunTrust analyst Michael Young lowered his price target on Western Alliance to $63 to reflect the contraction in industry multiples but also keeps his Buy rating after the bank's Q3 results. The analyst notes that Western Alliance posted better net interest income growth than its peers thanks to a lower loan to deposit ratio and expects its net interest margins to remain supported.
10/21/18
KBWI
10/21/18
NO CHANGE
Target $75
KBWI
Outperform
Western Alliance should be bought on 'misguided' selloff, says Keefe Bruyette
Keefe Bruyette analyst Christopher McGratty says Friday's 8% selloff in shares of Western Alliance Bancorporation was "misguided." The pullback related to a "misunderstanding" of the company's outlook, which effectively "blessed" 2019 consensus estimates, McGratty tells investors in a research note. He recommends adding to positions in Western Alliance, noting that his estimates are unchanged and the stock is now trading at "just" 11 times his 2019 numbers. The analyst keeps an Outperform rating on the shares with a $75 price target.
10/22/18
RBCM
10/22/18
NO CHANGE
Target $61
RBCM
Outperform
Western Alliance price target lowered to $61 from $68 at RBC Capital
RBC Capital analyst Jon Arfstrom lowered his price target on Western Alliance to $61 to reflect the "recent change in peer multiples" but also kept his Outperform rating following a "solid" set of results in Q3. The analyst notes that while the management was somewhat cautious in terms of its 2019 growth and margins expectations, the outlook was still "strong". Arfstrom added that he "appreciates" Western Alliance's continued "ability to produce above peer growth and returns" along with its strong credit quality.
01/15/19
SBSH
01/15/19
UPGRADE
Target $53
SBSH
Buy
Western Alliance upgraded to Buy from Neutral at Citi
Citi analyst Arren Cyganovich upgraded Western Alliance Bancorp to Buy while lowering his price target for the shares to $53 from $56.
LNC Lincoln National
$60.50

1.32 (2.23%)

12/12/18
BMOC
12/12/18
NO CHANGE
Target $69
BMOC
Market Perform
Athene Holding price target raised to $69 from $65 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Athene Holding (ATH) to $69 and also raised his FY18 EPS view by 11c to $6.05 and FY19 view by 63c to $7.82. The analyst cites the company completing its $7.7B block reinsurance transaction with Lincoln Financial Group (LNC) - its second meaningful deal in two weeks - which he sees generating returns "near the low end" of the company's mid- to high-teens target return on deployed capital. Fotheringham also points to Athene Holdings' $250M buyback authorization, anticipating it to be 2%-3% accretive. The analyst maintains his Market Perform view on the shares, stating that while he is optimistic about its potential growth, he sees even better opportunities elsewhere in his coverage universe of large-cap banks, specialty lenders, and financial technology stocks.
01/08/19
WELS
01/08/19
INITIATION
Target $63
WELS
Market Perform
Lincoln National resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Elyse Greenspan resumed coverage of Lincoln National with a Market Perform rating and $63 price target. The analyst thinks the stock's risk/reward is neutral given its "higher beta and market sensitivity compared to peers."
01/09/19
LEHM
01/09/19
NO CHANGE
LEHM
Barclays downgrades Life Insurance sector to Neutral from Positive
Barclays analyst Jay Gelb downgraded the U.S. Life Insurance sector to Neutral from Positive because he doubts valuations will improve in a volatile environment. A sub-3% yield on 10-year Treasuries, a flat yield curve, declining equity markets and long-term care insurance risks are viewed as factors in the "substantial de-rating of life insurer valuations," Gelb tells investors in a research note. The analyst prefers the Property and Casualty sector based on its "lower beta and less exposure to a volatile macro environment." As part of the sector rating change, the analyst upgraded Ameriprise Financial (AMP) to Overweight from Equal Weight. He also continues to see value in Prudential (PRU), Unum Group (UNM) and Lincoln National (LNC). His Underweight rated names are Brighthouse Financial (BHF) and Torchmark (TMK).
11/05/18
KBWI
11/05/18
UPGRADE
Target $80
KBWI
Outperform
Lincoln National upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Ryan Krueger upgraded Lincoln National to Outperform with a price target of $80. The company is producing "consistent" results while trading at a discount, Krueger tells investors in a research note.
IMXI International Money Express
$11.34

-0.26 (-2.24%)

02/04/19
CHLM
02/04/19
INITIATION
Target $17
CHLM
Buy
International Money Express initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Bradley Berning started International Money Express with a Buy rating and $17 price target. The analyst believes the stock is undervalued and given the company's unique strategy, he expects more market share gains and about 20% revenue and earnings growth for the foreseeable future as Intermex opens additional U.S. locations for Latin America senders and expands its service model globally.
10/11/18
CANT
10/11/18
INITIATION
Target $15
CANT
Overweight
International Money Express initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph Foresi initiated International Money Express with an Overweight and $15 price target.
12/06/18
PIPR
12/06/18
INITIATION
Target $17
PIPR
Overweight
International Money Express initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Jason Deleeuw started International Money Express with an Overweight rating and $17 price target. The company is a "fast-growing" money transfer remittance provider with ~5,000 agent send locations in the U.S. and ~50,000 agent receive locations in Latin America, Deleeuw tells investors in a research note. He believes International Money is taking "significant" market share in the U.S.-Latin America corridor.
09/12/18
09/12/18
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. Arch Therapeutics (ARTH) initiated with a Buy at Ladenburg. 2. International Money Express (IMXI) initiated with a Buy at BTIG. 3. Intercept (ICPT) initiated with a Buy at Roth Capital. 4. Huntington Ingalls (HII) initiated with a Buy at Buckingham. 5. Zogenix (ZGNX) initiated with an Outperform at Northland. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
IFC Irwin Financial
$0.00

(0.00%)

TWO Two Harbors
$14.00

-0.015 (-0.11%)

10/11/18
RAJA
10/11/18
INITIATION
RAJA
Outperform
Two Harbors initiated with an Outperform at Raymond James
08/10/18
LEHM
08/10/18
INITIATION
Target $17
LEHM
Overweight
Two Harbors reinstated with an Overweight at Barclays
Barclays analyst Mark DeVries reinstated coverage of Two Harbors Investment with an Overweight rating and $17 price target. The analyst views the company's Q2 results as "strong" and believes it has "strong ability" to manage book value.
07/24/18
DBAB
07/24/18
DOWNGRADE
Target $15.5
DBAB
Hold
Two Harbors downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst George Bahamondes downgraded Two Harbors Investment to Hold with an unchanged price target of $15.50. The analyst sees limited upside to current valuation levels with the shares trading at a premium to book value.
UBSH Union Bankshares
$34.62

0.57 (1.67%)

01/23/19
BMUR
01/23/19
NO CHANGE
Target $40
BMUR
Buy
Union Bankshares well positioned for outperformance, says Brean Capital
Brean Capital analyst Blair Brantley noted bank stocks have rebounded, but remain below historical valuation standards as sentiment remains cautious. The analyst believes the Q4 report from Union Bankshares will provide a good look at the baseline of operating earnings power. He likes the company because of its footprint in Virginia and select organic opportunities in North Carolina and Maryland, its core funding base, top commercial talent, and improving brand awareness. Brantley has a Buy rating and $40 price target on Union Bankshares shares.
12/27/18
12/27/18
NO CHANGE

Stephens to keep GrubHub, RealPage, Vulcan Materials on 2019 Best Ideas list
Stephens said that it plans to publish a complete updated 2019 Best Ideas list on January 2, but in anticipation it shared the names that are being dropped and the three stocks that will remain on the list. The holdovers are GrubHub (GRUB), RealPage (RP) and Vulcan Materials (VMC). The stocks being removed include Boston Scientific (BSX), Brookdale Senior Living (BKD), Conn's (CONN), CoStar Group (CSGP), Curo Group (CURO), FedEx (FDX), First Financial Bancorp (FFBC), Graphic Packaging (GPK), Hub Group (HUBG), Keane Group (FRAC), KeyCorp (KEY), LKQ Corp. (LKQ), Myriad Genetics (MYGN), SVB Financial (SIVB), Triumph Bancorp (TBK), TrueCar (TRUE) and Union Bankshares (UBSH).
12/31/18
BMUR
12/31/18
NO CHANGE
Target $40
BMUR
Buy
Union Bankshares named a top pick for 2019 at Brean Capital
Brean Capital analyst Blair Brantley believes Union Bankshares is well positioned to outperform given its statewide franchise in Virginia, select organic opportunities in North Carolina and Maryland, "attractive" core funding base, "top-graded" talent and flexibility for additional fill-in deals. Further, the analyst says he can't overlook the improved transparency as the company's results have matched the message led by CEO Asbury. Brantley calls Union Bankshares a top pick for 2019 and keeps a Buy rating on the shares despite trimming his price target to $40 from $42.
12/13/18
BARD
12/13/18
NO CHANGE
Target $28
BARD
Outperform
Cadence Bancorp price target cut to $28 from $32 at Baird
Baird analyst Bryce Rowe maintained an Outperform rating on Cade Bancorp (CADE) and cut his price target to $28 from $32, telling investors in a research note that Cadence is his top idea. Rowe says regional banks have underperformed the broader markets since early summer and that he believes there is ~15%-20% absolute upside available in small-cap bank stocks if a risk-on trade reemerges and that small-cap bank stocks can outperform on a relative basis should broader market weakness persist. The analyst also upgraded Union Bankshares (UBSH) this morning to Outperform.
GHL Greenhill & Co.
$25.13

0.47 (1.91%)

12/07/18
12/07/18
UPGRADE
Target $28

Buy
Greenhill & Co. upgraded to Buy after CEO meeting at Sandler O'Neill
As previously reported, Sandler O'Neill analyst Jeffery Harte upgraded Greenhill & Co. to Buy from Hold after recently having met with CEO Scott Bok, who expressed a positive tone on the outlook for overall M&A activity levels and Greenhill's market share gain potential. Harte, who said "Bok sounds as positive as we have heard him since summer of 2016," raised his Q4 and 2019 EPS estimates to reflect a stronger than expected pace of both closings and announcements in Q4 to-date. He has a $28 price target on Greenhill & Co. shares.
01/31/19
SDLR
01/31/19
DOWNGRADE
SDLR
Hold
Greenhill & Co. downgraded to Hold from Buy at Sandler O'Neill
01/04/19
KBWI
01/04/19
INITIATION
Target $26
KBWI
Market Perform
Greenhill & Co. assumed with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Michael Brown assumed coverage of Greenhill & Co. with a Market Perform rating and $26 price target. Before suspending coverage KBW had an Underperform rating on the shares.
01/31/19
01/31/19
DOWNGRADE
Target $31

Hold
Greenhill & Co. downgraded to Hold after 'disappointing' Q4 at Sandler O'Neill
As previously reported, Sandler O'Neill analyst Jeffery Harte downgraded Greenhill & Co. to Hold from Buy following the company's "disappointing" earnings miss and lower than expected revenues.
BAC Bank of America
$28.68

0.28 (0.99%)

02/01/19
UBSW
02/01/19
NO CHANGE
Target $33
UBSW
Buy
Bank of America rate sensitivity concerns overdone, says UBS
UBS analyst Saul Martinez noted banks' underperformance since the dovish comments by the Fed earlier this week. The analyst noted Bank of America shares fell and he believes the perception they are more sensitive to interest rates than peers is misguided. He thinks the company should be able to drive mid-single digit growth and solid positive operating leverage even if the Fed is on hold. Martinez reiterated his Buy rating and $33 price target on Bank of America shares.
02/08/19
DAIW
02/08/19
DOWNGRADE
DAIW
Neutral
Bank of America downgraded to Market Perform from Outperform at Daiwa
ALLY Ally Financial
$26.82

0.41 (1.55%)

12/20/18
JPMS
12/20/18
UPGRADE
Target $29.5
JPMS
Overweight
Ally Financial upgraded to Overweight on 'compelling valuation' at JPMorgan
JPMorgan analyst Richard Shane upgraded Ally Financial to Overweight from Neutral with an unchanged price target of $29.50. The analyst sees a "compelling valuation" relative to other consumer finance companies in his coverage universe. Ally is a "compelling outlier in the consumer finance vertical," says the analyst.
12/20/18
JPMS
12/20/18
UPGRADE
Target $29.5
JPMS
Overweight
Ally Financial upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Richard Shane upgraded Ally Financial to Overweight with a $29.50 price target.
01/23/19
BTIG
01/23/19
NO CHANGE
Target $32
BTIG
Buy
Ally Financial price target lowered to $32 from $39 at BTIG
BTIG analyst Giuliano Bologna lowered his price target for Ally Financial to $32 after taking over coverage from Mark Palmer. The analyst keeps a Buy rating on the shares. Improving origination yields are offsetting cost of capital increases, which should position Ally Financial for multiple expansion as it continues to diversify and improve its earning assets mix, Bologna tells investors in a research note. He views Ally as a "self-help story."
11/02/18
11/02/18
NO CHANGE

Ally Financial providing Carvana with up to $2.3B in financing
Ally Financial (ALLY) is providing up to $2.3B in financing commitments over the next 12 months to support retail contracts from and inventory needs of Carvana (CVNA). In its third year of financing agreements with Carvana, Ally will provide up to $1.25B available for bulk purchases, in addition to providing a $350M warehouse credit facility. The $650M floorplan credit line includes a two-year commitment and represents an increase of $300M over the existing credit line. In the first two years, Ally had agreements to provide up to $2B in financing commitments for retail contracts from Carvana. The latest agreement also includes an increased floorplan credit line and continued vehicle sourcing through Ally's SmartAuction platform.
ALL Allstate
$92.95

0.37 (0.40%)

01/15/19
COMP
01/15/19
INITIATION
Target $114
COMP
Buy
Allstate initiated with a Buy at Compass Point
Compass Point analyst Bijan Moazami initiated Allstate with a Buy and $114 price target. Moazami says Allstate's business the best among peers citing its strong brand, significant marketing dollars, superior data to price risk, and more efficient claims management. Further, Allstate's is producing high-teens ROE on a consistent basis with homeowners going from a variable and unprofitable product, to one producing solid results.
02/06/19
WBLR
02/06/19
UPGRADE
WBLR
Market Perform
Allstate upgraded to Market Perform from Underperform at William Blair
02/06/19
WBLR
02/06/19
UPGRADE
WBLR
Market Perform
William Blair upgrades Allstate to Market Perform on 'stable' outlook
William Blair analyst Adam Klauber upgraded Allstate to Market Perform from Underperform following last night's Q4 earnings report. The stock in afternoon trading is up 4%, or $3.39, to $92.31. The analyst sees a "stable" earnings outlok for the company going into 2019.
12/20/18
FBCO
12/20/18
NO CHANGE
Target $93
FBCO
Outperform
Allstate price target lowered to $93 from $112 at Credit Suisse
Credit Suisse analyst Michael Zaremski lowered his price target for Allstate to $93 from $112 as he believes some investors are currently unwilling to buy into auto stocks as auto pricing falls. The analyst reiterates an Outperform rating on the shares.
CG Carlyle Group
$18.69

0.17 (0.92%)

11/14/18
11/14/18
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. Apple (AAPL) downgraded to Neutral from Buy at Guggenheim with analyst Robert Cihra saying the average selling price of the iPhone has increased a "dramatic" $220, or 40%, over the past 10 years, reflecting its "growing value to both consumer and business markets." 2. Kellogg (K) downgraded to Neutral from Overweight at JPMorgan with analyst Ken Goldman saying that while nothing at the company's investor day "necessarily disappointed" him, he also did not gain "much comfort that the bottom-line turnaround would be swift." 3. Apollo Global (APO) and Carlyle Group (CG) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Conagra Brands (CAG) downgraded to Underperform from Market Perform at Bernstein with analyst Alexia Howard saying the frozen category has experienced positive growth over the past year, largely led by new product innovation from Conagra and Pinnacle Foods, but this now seems to be running out of steam. 5. Tenneco (TEN) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing its elevated leverage and limited free cash flow conversion in what he views as an increasingly uncertain environment for auto suppliers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/18
MSCO
11/14/18
DOWNGRADE
MSCO
Equal Weight
Morgan Stanley downgrades Apollo Global and Carlyle, favors brokers late cycle
As previously reported, Morgan Stanley analyst Michael Cyprys downgraded Apollo Global (APO) and Carlyle Group (CG), each to Equal Weight from Overweight, stating that he sees growing risk to portfolio harvesting and dividends and favors discount brokers in a more volatile, late cycle environment. On Apollo, he said he now has less conviction that cash performance fees can accelerate over the next 12 months given the more volatile market backdrop. On Carlyle, he sees risk to growing cash performance fees with increased market volatility. Cyprys lowered his price target on Apollo shares to $34 from $42 and cut his price target on Carlyle shares to $23 from $31.
01/04/19
GSCO
01/04/19
UPGRADE
Target $21
GSCO
Buy
Carlyle Group upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Alexander Blostein upgraded Carlyle Group to Buy from Neutral with a price target of $21. The analyst contends that the 31% decline in its stock price, which is about double of the 15% peer average decline, does not account for "considerable change" in the company's cash flow stability profile, citing its "significant growth in fee-related earnings and improving backdrop for incentive income". Blostein expects Carlyle Group to deliver a 23% annualized revenue growth through 2020 in spite of the softer macro backdrop.
01/14/19
SBSH
01/14/19
NO CHANGE
SBSH
Citi gets more defensive on Brokers & Asset Managers, downgrades five
Citi analyst Citi analyst William Katz is taking a more defense stance on the traditional Brokers & Asset Managers to reflect what he sees as "weak" fundamentals and "still elevated" consensus estimates. The analyst reduced his target multiples across the group and downgraded Affiliated Managers (AMG) and Brightsphere Investment Group (BSIG) to Neutral from Buy as well as Artisan Partners (APAM), Waddell & Reed (WDR) and Franklin Resources (BEN) to Sell from Neutral. Katz calls Och-Ziff Capital (OZM) and LPL Financial (LPLA) his top ideas and also opened a "30 Day Positive Catalyst Watch" for Carlyle Group (CG) and Legg Mason (LM). The analyst recommends pair trades of Overweight AllianceBernstein (AB), underweight Artisan Partners (APAM), and overweight BlackRock (BLK), underweight T. Rowe Price (TROW).
RJF Raymond James
$82.02

2.03 (2.54%)

10/26/18
SBSH
10/26/18
DOWNGRADE
Target $85
SBSH
Neutral
Raymond James downgraded to Neutral from Buy at Citi
Citi analyst William Katz downgraded Raymond James (RJF) to Neutral and lowered his price target for the shares to $85 from $101. The analyst sees more limited upside to current valuation multiples given his reduced earnings outlook. He also sees a lack of catalyst to push the stock higher. Katz recommends a pair trade overweighting LPL Financial (LPLA) and underweighting Raymond James.LPL has more earnings upside potential as well as greater expense and capital management levers, says Katz.
01/14/19
FBCO
01/14/19
NO CHANGE
Target $93
FBCO
Neutral
Raymond James price target lowered to $93 from $100 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler lowered his price target for Raymond James to $93 from $100 ahead of quarterly results. The analyst reiterates a Neutral rating on the shares.
11/27/18
GSCO
11/27/18
INITIATION
Target $85
GSCO
Neutral
Raymond James initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Alexander Blostein started Raymond James (RJF) with a Neutral rating and $85 price target. Blostein initiated the smid-cap Brokers with an Attractive coverage view and names LPL Financial (LPLA) his top pick. The analyst sees "solid" organic growth from Raymond James but "limited follow-through" to earnings.
11/27/18
11/27/18
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. CVS Health (CVS) initiated with an Overweight at Cantor Fitzgerald. 2. EVO Payments (EVOP) initiated with a Buy at BTIG. 3. Coherent (COHR) initiated with a Buy at Vertical Group. 4. LPL Financial (LPLA) was initiated with a Conviction Buy at Goldman Sachs while CalAmp (CAMP), Stifel Financial (SF), and Raymond James (RJF) initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

EIG

Employers Holdings

$45.92

-0.03 (-0.07%)

16:49
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Hot Stocks
Employers Holdings declared an increased quarterly dividend of 22c »

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GTE

Gran Tierra

$2.34

-0.06 (-2.50%)

16:48
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Gran Tierra acquires strategic assets in Putumayo, Llanos Basins »

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EIG

Employers Holdings

$45.92

-0.03 (-0.07%)

16:47
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Employers Holdings reports Q4 EPS 77c, consensus 64c »

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SXCP

SunCoke Energy Partners

$14.85

0.37 (2.56%)

16:46
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Conference/Events
SunCoke Energy Partners management to meet with Seaport Global »

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SXC

SunCoke Energy

$10.32

0.25 (2.48%)

16:45
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02/20
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Conference/Events
SunCoke Energy management to meet with Seaport Global »

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SXC

SunCoke Energy

$10.32

0.25 (2.48%)

16:45
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Conference/Events
SunCoke Energy management to meet with B. Riley FBR »

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DNOW

NOW Inc.

$15.86

0.57 (3.73%)

16:43
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Conference/Events
NOW Inc. management to meet with Seaport Global »

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EFC

Ellington Financial

$17.15

-0.06 (-0.35%)

16:42
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Earnings
Ellington Financial reports Q4 NII 41c, consensus 37c »

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IVR

Invesco Mortgage

$15.88

-0.1 (-0.63%)

16:42
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Invesco Mortgage reports Q4 core EPS 46c, consensus 41c »

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HTGM

HTG Molecular

$2.39

-0.15 (-5.91%)

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HTG Molecular amends its precision diagnostic partnership »

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TMO

Thermo Fisher

$252.07

1.295 (0.52%)

16:40
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Thermo Fisher halts sale of genetic sequencers to Xinjiang area, WSJ says »

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HLIT

Harmonic

$5.32

-0.03 (-0.56%)

16:40
02/20/19
02/20
16:40
02/20/19
16:40
Initiation
Harmonic initiated  »

Harmonic initiated with a…

03/08/13
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CDE

Coeur Mining

$5.55

0.045 (0.82%)

16:40
02/20/19
02/20
16:40
02/20/19
16:40
Hot Stocks
Coeur Mining sees FY19 gold output 334K-372K oz vs 359.5K oz in FY18 »

Sees FY19 silver output…

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  • 21

    Feb

  • 21

    Feb

VEAC

Vantage Energy Acquisition

$10.15

-0.01 (-0.10%)

16:40
02/20/19
02/20
16:40
02/20/19
16:40
Hot Stocks
Breaking Hot Stocks news story on Vantage Energy Acquisition »

Vantage Energy…

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16:40
02/20/19
02/20
16:40
02/20/19
16:40
Hot Stocks
Breaking Hot Stocks news story  »

Vantage Energy…

TMST

TimkenSteel

$12.34

-0.08 (-0.64%)

16:38
02/20/19
02/20
16:38
02/20/19
16:38
Hot Stocks
Breaking Hot Stocks news story on TimkenSteel »

TimkenSteel sees FY19…

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  • 21

    Feb

  • 21

    Feb

Y

Alleghany

$650.80

(0.00%)

16:37
02/20/19
02/20
16:37
02/20/19
16:37
Earnings
Alleghany reports Q4 operating EPS ($4.35), consensus ($5.31) »

Reports Q4 revenue…

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16:37
02/20/19
02/20
16:37
02/20/19
16:37
General news
API crude inventories for week of February 15 »

API reports that crude…

TMST

TimkenSteel

$12.34

-0.08 (-0.64%)

16:37
02/20/19
02/20
16:37
02/20/19
16:37
Hot Stocks
Breaking Hot Stocks news story on TimkenSteel »

TimkenSteel sees Q1…

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  • 21

    Feb

  • 21

    Feb

KALU

Kaiser Aluminum

$109.77

2.16 (2.01%)

16:37
02/20/19
02/20
16:37
02/20/19
16:37
Earnings
Kaiser Aluminum sees FY19 low to mid-single digit percent increase in shipments »

Overall, for the full…

03/08/13
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  • 21

    Feb

  • 21

    Feb

CDE

Coeur Mining

$5.55

0.045 (0.82%)

16:36
02/20/19
02/20
16:36
02/20/19
16:36
Hot Stocks
Coeur Mining reports Q4 gold production 92.5K oz vs. 118.8K oz last year »

Reports Q4 silver…

03/08/13
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03/06/13
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03/06/13
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  • 21

    Feb

  • 21

    Feb

JKHY

Jack Henry

$132.86

-0.03 (-0.02%)

16:36
02/20/19
02/20
16:36
02/20/19
16:36
Initiation
Jack Henry initiated  »

Jack Henry initiated with…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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  • 20

    Feb

  • 21

    Feb

  • 12

    Mar

TMST

TimkenSteel

$12.34

-0.08 (-0.64%)

16:35
02/20/19
02/20
16:35
02/20/19
16:35
Earnings
TimkenSteel reports Q4 EPS (89c), consensus (6c) »

Reports Q4 revenue…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 21

    Feb

  • 21

    Feb

KALU

Kaiser Aluminum

$109.77

2.16 (2.01%)

16:35
02/20/19
02/20
16:35
02/20/19
16:35
Earnings
Kaiser Aluminum reports Q4 EPS $1.77, consensus $1.54 »

Reports Q4 revenue $389M,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Feb

  • 21

    Feb

CDE

Coeur Mining

$5.55

0.045 (0.82%)

16:34
02/20/19
02/20
16:34
02/20/19
16:34
Earnings
Coeur Mining reports Q4 EPS 8c, consensus (11c) »

Reports Q4 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Feb

  • 21

    Feb

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