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FIT

Fitbit

$5.88

-0.99 (-14.41%)

, HAIN

Hain Celestial

$19.23

1.45 (8.16%)

10:08
02/28/19
02/28
10:08
02/28/19
10:08

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Fitbit (FIT) upgraded to Buy from Neutral at DA Davidson analyst Tom Forte citing Q4 results and outlook for Q1 and FY19. 2. Hain Celestial (HAIN) upgraded to Overweight from Neutral at JPMorgan with analyst Ken Goldman citing the company's "compelling" investor day, the analyst has increased confidence in Hain's ability to drive margin growth over the next few years. 3. Athene Holding (ATH) upgraded to Outperform from Market Perform at BMO Capital with analyst James Fotheringham saying the valuation multiple on the stock may have finally passed its trough at its current 5.5-times two-year forward earnings multiple and believes that its core business should be valued at 6.4-times. 4. Wabco (WBC) upgraded to Neutral from Underweight at JPMorgan and to Hold from Sell at Vertical Research. 5. Globus Medical (GMED) upgraded to Buy from Neutral at UBS with analyst Matthew Taylor saying the company has delivered several quarters in a row of improving spine growth, which confirms robot placements are leading to implant pull-through. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

FIT

Fitbit

$5.88

-0.99 (-14.41%)

HAIN

Hain Celestial

$19.23

1.45 (8.16%)

ATH

Athene Holding

$44.55

0.37 (0.84%)

WBC

Wabco

$139.71

9.23 (7.07%)

GMED

Globus Medical

$47.54

1.1 (2.37%)

  • 28

    Feb

  • 06

    Mar

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    Mar

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    Mar

  • 19

    Mar

FIT Fitbit
$5.88

-0.99 (-14.41%)

02/28/19
DADA
02/28/19
UPGRADE
DADA
Buy
Fitbit upgraded to Buy from Neutral at DA Davidson
02/28/19
DADA
02/28/19
UPGRADE
Target $7
DADA
Buy
Fitbit upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Tom Forte upgraded Fitbit to Buy and raised his price target to $7 from $5.50 after its Q4 results and outlook for Q1 and FY19. The analyst attributes the upgrade to his view of "improvements that the management has made to the company's operating results, including a return to both unit and sales growth." Forte is also positive on Fitbit's "attractive balance sheet" and the progress made in its healthcare services efforts, saying the risk/reward on the stock is favorable given the after-market decline in the share price.
02/22/19
WEDB
02/22/19
DOWNGRADE
Target $6.5
WEDB
Neutral
Fitbit downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Michael Pachter downgraded Fitbit to Neutral from Outperform, as shares have reached his $6.50 price target with no new available information on the MedTech opportunity. In a research note to investors, Pachter says he thinks what is currently known about the MedTech opportunity is fully priced into Fitbit's share price, and will step to the sidelines until he knows more.
02/22/19
WEDB
02/22/19
DOWNGRADE
WEDB
Neutral
Fitbit downgraded to Neutral from Outperform at Wedbush
HAIN Hain Celestial
$19.23

1.45 (8.16%)

02/08/19
JPMS
02/08/19
NO CHANGE
Target $15
JPMS
Neutral
JPMorgan cuts Hain Celestial target to $15, says shares 'not cheap'
JPMorgan analyst Ken Goldman lowered his price target for Hain Celestial to $15 from $17 and keeps a Neutral rating on the shares. While management is "heading down the right strategic path," the shares at current levels are "not cheap," Goldman tells investors in a research note. He keeps a Neutral rating on Hain.
02/08/19
BMOC
02/08/19
NO CHANGE
Target $20
BMOC
Market Perform
Hain Celestial price target lowered to $20 from $23 at BMO Capital
BMO Capital analyst Amit Sharma lowered his price target on Hain Celestial to $20 and kept his Market Perform rating after its worse than expected Q2 results. The analyst notes that the set-up may look "more interesting" at these levels and given the much needed earnings reset, but he prefers to await for more clarity at the company's upcoming Analyst Day.
02/28/19
JPMS
02/28/19
UPGRADE
Target $20
JPMS
Overweight
Hain Celestial upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Ken Goldman upgraded Hain Celestial to Overweight and raised his price target for the shares to $20 from $15.
02/28/19
JPMS
02/28/19
UPGRADE
Target $20
JPMS
Overweight
JPMorgan upgrades Hain Celestial to Overweight after 'compelling' investor day
JPMorgan analyst Ken Goldman upgraded Hain Celestial to Overweight from Neutral and raised his price target for the shares to $20 from $15. Following the company's "compelling" investor day, the analyst has increased confidence in Hain's ability to drive margin growth over the next few years. In a packaged food universe where sustainable EBITDA growth is "increasingly hard to come by," Hain Celestial's "potential stands out to us," Goldman tells investors in a research note.
ATH Athene Holding
$44.55

0.37 (0.84%)

02/27/19
BMOC
02/27/19
UPGRADE
Target $62
BMOC
Outperform
Athene Holding upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst James Fotheringham upgraded Athene Holding on valuation but also lowered his price target to $62 from $69. The analyst contends that the valuation multiple on the stock may have finally passed its trough at its current 5.5-times two-year forward earnings multiple and believes that its core business should be valued at 6.4-times. Fotheringham also cites Athene Holdings' strong track record of growth-by-acquisition, assigning it with forward excess capital value in his model.
02/13/19
BMOC
02/13/19
NO CHANGE
Target $48
BMOC
Outperform
OneMain Holdings price target raised to $48 from $43 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on OneMain Holdings (OMF) to $48 and kept his Outperform rating after its Q4 earnings beat. The analyst says the results were driven by reduced costs and sees higher potential funding and capital synergies with Athene Holdings (ATH) that could "prove meaningfully accretive" to its earnings and value going forward. Fotheringham sees OneMain Holdings as one of his two top event-driven investment ideas.
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.
10/03/18
BOFA
10/03/18
INITIATION
Target $67
BOFA
Buy
Athene Holding reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Ian Ryave reinstated Athene with a Buy and $67 price target citing above average earnings growth, underappreciated competitive advantages, and valuation.
WBC Wabco
$139.71

9.23 (7.07%)

02/28/19
JPMS
02/28/19
UPGRADE
JPMS
Neutral
Wabco upgraded to Neutral from Underweight at JPMorgan
02/28/19
KEYB
02/28/19
NO CHANGE
Target $150
KEYB
Overweight
Wabco price target raised to $150 from $135 at KeyBanc
KeyBanc analyst Jeffrey Hammond raised his price target for Wabco to $150 from $135 saying that amid intensifying discussions between the company and ZF Friedrichshafen AG, he is now comfortable with more fully crediting Wabco's multiple with the takeout premium it deserves. Beyond the news, and underlining his positive thesis, Hammond believes Wabco's outgrowth drivers remain fully intact, supported by a significant pipeline of recent platform wins. The analyst reiterates an Overweight rating on the shares.
02/28/19
WBLR
02/28/19
NO CHANGE
WBLR
Outperform
Wabco buyout price could approach $170 per share, says William Blair
A 14-times multiple on Wabco's expected 2019 EBITDA would imply a takeout price of nearly $170 per share and an enterprise value of over $8.5B, William Blair analyst Lawrence De Maria tells investors in a research note after the company confirmed it is in talks with ZF Friedrichshafen. Synergies of 5% of sales would imply nearly $200M in cost savings, the analyst adds. De Maria believes the fundamental valuation of Wabco should move toward $145 per share, and thinks the company would require a "significant premium to the recent trading range." The analyst assumes there is a "very good chance" the talks will amount to a deal. He keeps an Outperform rating on Wabco, which is trading up 7%, or $9.49, to $139.98 in premarket trading.
02/28/19
SPHN
02/28/19
NO CHANGE
Target $152
SPHN
Overweight
Wabco price target raised to $152 from $132 at Stephens
Stephens analyst Justin Long raised his price target on Wabco shares to $152 from $132 after the company confirmed it has been approached by German auto parts supplier ZF Friedrichshafen and has engaged in preliminary talks concerning a potential transaction, stating that he feels the news will likely support a higher valuation multiple in the near term. Long maintains an Overweight rating on Wabco shares.
GMED Globus Medical
$47.54

1.1 (2.37%)

01/02/19
01/02/19
DOWNGRADE
Target $49

Equal Weight
Morgan Stanley cuts Globus to Equal Weight, sees consensus as too aggressive
As previously reported, Morgan Stanley analyst Jonathan Demchick downgraded Globus Medical (GMED) to Equal Weight from Overweight, contending that consensus expectations have become too aggressive and need to be reset. The analyst argues that pent-up demand may have elevated 2018 robotic sales and that Medtronic's (MDT) Mazor X Stealth approval and bundling efforts may pressure Globus sales in 2019. Demchick lowered his price target on Globus shares to $49 from $64.
01/02/19
MSCO
01/02/19
DOWNGRADE
MSCO
Equal Weight
Globus Medical downgraded to Equal Weight from Overweight at Morgan Stanley
02/10/19
PIPR
02/10/19
NO CHANGE
Target $70
PIPR
Overweight
Piper Jaffray does not believe Smith & Nephew, NuVasive deal will occur
Following an article by the Financial Times that indicated Smith & Nephew (SNN) was in talks to acquire NuVasive (NUVA), Piper Jaffray analyst Matt O'Brien says he does not believe this transaction will occur as the spine market does not grow much making it less attractive than other orthopedic segments and the landscape is littered with failed spine deals. The analyst thinks investors in NuVasive should take some profit, and anticipates shares of Wright Medical (WMGI) will trade lower on Monday as the most likely suitor for them would be off the table if a NuVasive deal occurred. Finally, the analyst believes a Smith & Nephew/NuVasive combination would be positive for Globus Medical (GMED) and SeaSpine (SPNE) as they would likely take share in the category. O'Brien reiterates an Overweight rating and $ 70 price target on NuVasive's shares.
02/28/19
UBSW
02/28/19
UPGRADE
Target $55
UBSW
Buy
Globus Medical upgraded to Buy from Neutral at UBS
UBS analyst Matthew Taylor upgraded Globus Medical to Buy with an unchanged price target of $55. The company has delivered several quarters in a row of improving spine growth, which confirms robot placements are leading to implant pull-through, Taylor tells investors in a research note. He views this as a "promising sign" for future growth and believes Globus is ahead of competitors. Feedback on the company's Excelsius robot has been positive, adds the analyst.

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MU

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