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W

Wayfair

$120.97

1.61 (1.35%)

, AMZN

Amazon.com

$1,625.71

33.87 (2.13%)

11:11
02/12/19
02/12
11:11
02/12/19
11:11

DA Davidson reiterates $60 target on Wayfair citing Amazon 'encroachment'

In a research earlier today titled "Encroachment Is a 5-Yard Penalty," DA Davidson analyst Tom Forte reiterated an Underperform rating on Wayfair with a $60 12-18 month price target. The stock in morning trading is up 1% to $120.89. Amazon.com (AMZN) announced yesterday that it was launching two private-label furniture brands in the U.K., Forte wrote to investors. The analyst sees the news as "yet another indication" of Amazon's intent to expand its efforts in the home category, including furniture. Yesterday's announcement follows Amazon's decision last December to lower third-party selling fees for the furniture category, the analyst points out. Forte views Amazon's efforts to ramp its sales in the home category as an increasing threat for Wayfair. Further, the analyst is monitoring the potential sale of Overstock's (OSTK) legacy home e-commerce business, as he thinks a sale to a large bricks and mortar retailer could also result in additional competition for Wayfair.

W

Wayfair

$120.97

1.61 (1.35%)

AMZN

Amazon.com

$1,625.71

33.87 (2.13%)

OSTK

Overstock.com

$18.67

0.27 (1.47%)

  • 20

    Feb

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    Feb

  • 03

    Mar

  • 18

    Mar

W Wayfair
$120.97

1.61 (1.35%)

02/08/19
OPCO
02/08/19
NO CHANGE
Target $140
OPCO
Outperform
Wayfair price target raised to $140 from $120 at Oppenheimer
Oppenheimer analyst Brian Nagel raised his price target on Wayfair to $140 from $120 while maintaining an Outperform rating. In a research note to investors, Nagel says he is increasingly optimistic that a more subdued pace of hiring that started to take hold at Wayfair in late 2018 should help cap expense growth at the company through 2019.
02/04/19
PIPR
02/04/19
NO CHANGE
Target $150
PIPR
Overweight
Piper sees 'number of positive drivers' for Wayfair in 2019
Piper Jaffray analyst Peter Keith reiterates an Overweight rating on Wayfair with a $150 price target following supplier meetings at last week's Las Vegas Market. The analyst sees a "number of positive drivers" for Wayfair in 2019, including tax refund season in the first half of the year, EBITDA margin improvement from operating expenditure leverage in the second half, and ramping sponsored product advertising through the year. Also important, supplier enthusiasm on Wayfair's near- and long-term capabilities continues to grow, Keith tells investors in a research note. He believes the company's "competitive moat is only set to widen" in the coming years, which in turn should drive "remarkable" long-term revenue and EBITDA growth.
01/29/19
DBAB
01/29/19
INITIATION
Target $124
DBAB
Buy
Wayfair initiated with a Buy at Deutsche Bank
Deutsche Bank started Wayfair with a Buy rating and $124 price target.
01/28/19
01/28/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Zynga (ZNGA) upgraded to Overweight from Sector Weight at KeyBanc with analyst Evan Wingren saying he likes the tactical setup as margin targets for FY19 have been established, the pipeline of new games is based on high quality IP, and he has confidence in the management team in place given its track record since joining. 2. GrubHub (GRUB) and Wayfair (W) were upgraded to Outperform from Neutral at Credit Suisse. 3. Logitech (LOGI) upgraded to Buy from Neutral at Goldman Sachs with analyst Mohammed Moawalla saying the stock has underperformed the Europe Technology group by 17% in last six months despite "strong management execution and continuing secular growth avenues." 4. Sonos (SONO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Yuuji Anderson saying he has become more confident that new products will drive growth and margin expansion. 5. Synnex (SNX) upgraded to Buy from Neutral at Citi with analyst Tim Yang saying Synnex continues to increase its value-add services exposure, which should support sustainable margin expansion in the next two years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AMZN Amazon.com
$1,625.71

33.87 (2.13%)

02/04/19
SUSQ
02/04/19
NO CHANGE
SUSQ
Susquehanna makes case for Century Communities and Redfin to be acquired
Susquehanna analyst Jack Micenko laid out a case for why he thinks Pulte (PHM) should buy Century Communities (CCS) and why Amazon.com (AMZN) should buy Redfin (RDFN). The analyst feels Pulte is under-penetrated in the true entry-level segment of the market and Century could quickly fill the need in terms of both product type and geography. He believes Pulte could pay a roughly 40% premium to Century's current stock price and still see accretion from the deal. As for Amazon, he noted they have been more active around housing than many appreciate and he believes the data opportunity with Redfin is significant. He said Amazon could pay a roughly 60% premium to Redfin's current stock price. Micenko has a Neutral rating and $25 price target on Pulte while he does not have a rating on shares of Century Communities. Amazon is covered by analyst Shyam Patil, who has a Positive rating and $2,250 price target, and Micenko has a Positive rating and $19 price target on Redfin shares.
02/07/19
MSCO
02/07/19
NO CHANGE
Target $99
MSCO
Overweight
PayPal acceptance growth still best of any digital wallet, says Morgan Stanley
Morgan Stanley analyst James Faucette said the most common question he has gotten for the past several weeks on PayPal (PYPL) has been, "Why is the stock underperforming so much since the beginning of 2019?" He believes PayPal's recent plateauing probably has more to do with other stocks than anything stock-specific, stating that Visa (V) and MasterCard (MA) "really have arguably had their best buying opportunities in years" and he would not be surprised to see PayPal "tread water" until those two stocks retake their respective highs. Another common thread in talks has been increasing concern that other digital wallets from Amazon (AMZN), Apple (AAPL) and others may be closing the acceptance gap, though he thinks that "speculation is flatly wrong." Dating back to March 2016, PayPal has had the fastest acceptance growth among all digital wallets, outpacing all the other wallets that he can reliably track, Faucette tells investors. He maintains an Overweight rating and $99 price target on PayPal shares.
02/08/19
SUSQ
02/08/19
UPGRADE
Target $30
SUSQ
Positive
Air Transport Services upgraded to Positive, target raised to $31 at Susquehanna
As reported previously, Susquehanna analyst Christopher Stathoulopoulos upgraded Air Transport Services (ATSG) to Positive from Neutral. The analyst cited its extended agreement with Amazon (AZMN), which puts its growth still in the early-innings as he sees low double-digit block hour growth in 2019 as achievable. Stathoulopoulos raised his price target to $30 from $21 on Air Transport Services shares.
02/05/19
JPMS
02/05/19
NO CHANGE
Target $1250
JPMS
Overweight
JPMorgan keeps Overweight on Alphabet but continues to prefer other FANGs
Alphabet's (GOOG) Q4 "continues to prove challenging on the bottom line" as the company now had a string of lighter than expected Q4's in terms of operating income and margins, JPMorgan analyst Doug Anmuth tells investors in a post-earnings research note. While the quarter is seasonally strong for advertising, it also comes with higher content costs for YouTube, more marketing spending, and a spike in low-margin hardware, says the analyst. Overall, though, Anmuth believes Alphabet continues to execute well as evidenced by both the acceleration and long-term stability in its sales growth. He maintains an Overweight rating on the shares, but prefers other FANG names Facebook (FB), Amazon (AMZN) and Netflix (NFLX) to Google. The analyst lowered his price target for the latter to $1,250 from $1,270.
OSTK Overstock.com
$18.67

0.27 (1.47%)

12/18/18
DADA
12/18/18
NO CHANGE
Target $58
DADA
Buy
Overstock.com price target lowered to $58 from $112 at DA Davidson
DA Davidson analyst Tom Forte slashed his price target on Overstock.com to $58 after the company's disclosure to investors that it was unable to finalize its GSR Ventures transaction by its mid-December target yesterday, pushing that deadline to February of next year. The analyst notes that investors responded to this management stumble by sending the stock price down over 20% from what he sees as "already depressed levels". Forte still keeps his Buy rating on Overstock.com, but states that his new valuation methodology is based on more of a "crawl, walk, run approach", even though he still values the company's 80% tZero holdings at a $1B valuation that equates to $27 per share and its retail business at 31 per share.
12/21/18
DADA
12/21/18
NO CHANGE
Target $58
DADA
Buy
DA Davidson sees encouraging signs for Overstock despite GSR disappointment
DA Davidson analyst Tom Forte said while he recognizes the recent disappointment regarding Overstock's inability to close its transactions with GSR Ventures, he is also seeing encouraging signs for the company's blockchain-related investments. "Lost in the disappointment of Monday" was the announcement that GSR Ventures and tZERO intend to work together to tokenize cobalt, which he sees as one example of potentially many regarding its ability to play an instrumental role in the creation and trading of tokens, Forte tells investors. He reiterates a Buy rating and $58 price target on Overstock shares and recommends purchasing at current levels, noting that his target includes a $31 per share valuation for its legacy home e-commerce business and $27 for its Medici Ventures portfolio of 19 blockchain companies, most of that being attributable to tZERO.
01/25/19
DADA
01/25/19
NO CHANGE
Target $58
DADA
Buy
Overstock.com's tZERO an 'incredibly valuable asset,' says DA Davidson
DA Davidson analyst Tom Forte reiterated a Buy rating and $58 price target on Overstock.com. In a research note to investors, Forte says he continues to view tZERO as an "incredibly valuable asset" and sees that the secondary trading of security tokens is an "important" accomplishment on the way to popularizing the tokenization of assets.
10/10/18
LOOP
10/10/18
NO CHANGE
Target $59
LOOP
Buy
Loop Capital 'optimistic' on Aaron's profitability ahead of Q3
Loop Capital analyst Anthony Chukumba kept his Buy rating and $59 price target on Aaron's (AAN) ahead of its Q3 earnings, saying his EPS estimate is 4c ahead of consensus based on his "optimistic profitability expectations". The analyst expects investors to focus on the company's "core business same store revenue growth and profitability, Progressive active door and invoice volume per active door growth, and Progressive's recently announced partnership with Overstock.com (OSTK). Chukumba further states that the implied 14.7-times valuation multiple of his expected FY19 earnings reflects "Progressive's substantial 'white space' opportunity and expectation of sequential improvement in the Aaron's Business".

TODAY'S FREE FLY STORIES

HA

Hawaiian Holdings

$31.67

0.91 (2.96%)

08:15
02/22/19
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Dermira

$7.08

-0.39 (-5.22%)

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Stamps.com

$198.08

-4.03 (-1.99%)

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Kirkland Lake Gold

$36.03

2.6 (7.78%)

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CMRX

Chimerix

$1.92

-0.04 (-2.04%)

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TDOC

Teladoc

$68.25

-1.25 (-1.80%)

08:09
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CLSH

CLS Holdings

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ATNI

ATN International

$59.50

-15.62 (-20.79%)

08:08
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MDRX

Allscripts

$11.93

-0.21 (-1.73%)

08:07
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VRTV

Veritiv

$35.55

-0.26 (-0.73%)

08:07
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Veritiv to optimize wide format products business »

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APPN

Appian

$38.73

0.41 (1.07%)

08:06
02/22/19
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08:06
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08:06
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Appian analyst commentary  »

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K

Kellogg

$58.33

-0.13 (-0.22%)

08:06
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Kellogg elects Erica Mann, Roderick Gillum to board »

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SYNL

Synalloy

$12.94

0.11 (0.86%)

08:05
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Synalloy announces stock repurchase program for up to 850,000 shares »

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BIDU

Baidu

$171.72

0.64 (0.37%)

08:05
02/22/19
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MYL

Mylan

$31.06

-0.54 (-1.71%)

08:04
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OBLN

Obalon Therapeutics

$2.17

0.07 (3.33%)

08:03
02/22/19
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Earnings
Obalon Therapeutics reports Q4 EPS (39c), consensus (36c) »

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TTD

Trade Desk

$150.18

0.07 (0.05%)

08:03
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HTH

Hilltop Holdings

$19.63

0.06 (0.31%)

08:03
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Hilltop Holdings announces retirement of co-CEO Alan White »

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ABBV

AbbVie

$78.76

-1.26 (-1.57%)

, VYGR

Voyager Therapeutics

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VYGR

Voyager Therapeutics

$10.70

-0.19 (-1.74%)

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VNTR

Venator Materials

$6.40

0.115 (1.83%)

08:01
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Venator Materials initiated  »

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KHC

Kraft Heinz

$48.19

-0.05 (-0.10%)

08:01
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MCS

Marcus

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NE

Noble Corp.

$3.12

-0.2 (-6.02%)

08:00
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SO

Southern Company

$50.22

0.48 (0.97%)

07:59
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MDRX

Allscripts

$11.93

-0.21 (-1.73%)

07:59
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