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AMD

AMD

$29.18

2 (7.36%)

, FB

Facebook

$173.90

-0.12 (-0.07%)

07:35
04/04/19
04/04
07:35
04/04/19
07:35

Unusual call flow in option market yesterday

Notable call activity was cited Wednesday in Advanced Micro (AMD), Facebook (FB), Snap Inc. (SNAP), American Airlines (AAL), Teva (TEVA), Nielsen (NLSN), Zayo Group (ZAYO), BP (BP), 21st Century Fox (FOXA), and Uniti Group (UNIT).

AMD

AMD

$29.18

2 (7.36%)

FB

Facebook

$173.90

-0.12 (-0.07%)

SNAP

Snap

$11.17

-0.03 (-0.27%)

AAL

American Airlines

$33.73

0.73 (2.21%)

TEVA

Teva

$14.90

-0.21 (-1.39%)

NLSN

Nielsen

$26.43

2.18 (8.99%)

ZAYO

Zayo Group

$29.30

1.28 (4.57%)

BP

BP

$44.23

-0.005 (-0.01%)

FOXA

Fox Corp.

$36.06

-0.44 (-1.21%)

UNIT

Uniti Group

$12.09

0.805 (7.13%)

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AMD AMD
$29.18

2 (7.36%)

04/03/19
04/03/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GrubHub (GRUB) initiated with a Buy at BTIG. 2. AMD (AMD) and Intel (INTC) initiated with a Buy at Nomura Instinet, while Nvidia (NVDA) and Xilinx (XLNX) were initiated with a Neutral. 3. Futu (FHL) initiated with a Neutral at Goldman Sachs. 4. Square (SQ) initiated with a Market Perform at Bernstein. 5. DowDuPont (DWDP) and Dow Inc. (DOW) initiated with a Buy at UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/19
BOFA
04/03/19
NO CHANGE
Target $62
BOFA
Buy
Intel Innovation Day shows alignment with 'major megatrends', says BofA/Merrill
BofA/Merrill analyst Vivek Arya kept his Buy rating and $62 price target on Intel (INTC) after its "Data-Centric Innovation Day" event. The analyst says the tone of the discussions was "positive" and the presentations showcased the company's continued alignment with "major megatrends" which include "transition to the cloud, AI proliferation, and the 'cloudification' of the network." Arya adds that Intel's expanding product breadth "can help offset share losses to AMD (AMD) ahead of its expected launch of its next-gen 7nm server CPUs this summer.
04/03/19
RBCM
04/03/19
NO CHANGE
RBCM
Outperform
AMD speculated to gain market share in Desktops and Notebooks, says RBC Capital
RBC Capital analyst Mitch Steves keeps his Outperform rating on AMD, citing the recent DigiTimes report highlighting PC supplier expectations that the company "will gain share in both the Desktop and Notebook markets" in the second half of 2019. The analyst believes that "notebook share gains will be seen as early as Q2 with desktop share gains being seen more clearly in Q3", adding that overall PC units should be up "slightly" this year with CPU constraints "causing a near-term under-shipment."
04/03/19
NOMU
04/03/19
INITIATION
NOMU
Nomura cautious on Semiconductors near term, calls AMD 'stand out'
Nomura Instinet analyst David Wong rolled out coverage on four names in the U.S. Semiconductors. The analyst has a positive view on long-term semiconductor growth, but cyclical concerns make him cautious in the near term. He models long-term semiconductor annual sales growth of 7%-9% from 2020 to 2025, driven by new technologies, including artificial intelligence, autonomous driving, 5G communications, Internet of Things, and the continued buildout of global datacenter infrastructure. However, the cyclical downturn, which began in the second half of 2018, could "present headwinds" for chip companies through 2019 and possibly in 2020, Wong tells investors in a research note. He foresees continuing year-over-year declines for the chip industry through 2019, with 2019 down about 10%. Nonetheless, the analyst initiated coverage of AMD (AMD) and Intel (INTC) with Buy ratings and price targets of $33 and $65, respectively. AMD's "solid positions" in both the x86 microprocessor and standalone graphics processor markets "make it stand out," says Wong. He believes the company has an opportunity to gain share with the launch of its new microprocessor and GPU families, driving sales growth through 2019, 2020, and beyond. Further, Wong thinks Intel's "dominance" in microprocessors, and in particular its leadership in artificial intelligence and autonomous driving, will drive above-average long-term growth for the company. The analyst also initiated Nvidia (NVDA) and Xilinx (XLNX) with Neutral ratings. He thinks both stocks' valuations already reflect the companies' positives.
FB Facebook
$173.90

-0.12 (-0.07%)

04/04/19
GUGG
04/04/19
DOWNGRADE
Target $72
GUGG
Neutral
Guggenheim downgrades Roku on increasing competition from Apple, Amazon
Guggenheim analyst Michael Morris downgraded Roku (ROKU) to Neutral from Buy and lowered his price target for the shares to $72 from $77. The stock closed yesterday down 3%, or $2.04, to $68.60. Morris this morning also upgraded Facebook (FB) to Buy from Neutral with a $200 price target. Apple's (AAPL) video product unveiled on March 25 represents an additional risk to Roku's active user base, the analyst tells investors in a research note. Further, Amazon's (AMZN) and Viacom's (VIAB) greater pushes into advertising video on demand are also increasing competition on Roku, Morris contends. He adds that Roku CFO Steve Louden's sale of 100,000 shares has also "shaken" his confidence in the stock. Nonetheless, the analyst's view of the "strong" secular streaming and targeted video advertising tailwinds that the company is positioned to benefit from is unchanged.
04/02/19
DBAB
04/02/19
NO CHANGE
DBAB
Buy
Instagram e-commerce could add $10B to Facebook sales in 2021, says Deutsche
A more streamlined e-commerce experience on Instagram could add an incremental $10B of revenue in 2021 for Facebook, Deutsche Bank analyst Lloyd Walmsley tells investors in a research note. He sees "Checkout with Instagram" as a key step towards unlocking this opportunity. After speaking with a large brand trying it out and a Facebook marketing partner, the analyst is "excited" on Facebook's e-commerce opportunity for Instagram. Walmsley thinks Checkout with Instagram can drive monetization and he keeps a Buy rating on Facebook.
04/04/19
GUGG
04/04/19
UPGRADE
GUGG
Buy
Facebook upgraded to Buy from Neutral at Guggenheim
04/04/19
GUGG
04/04/19
UPGRADE
Target $200
GUGG
Buy
Guggenheim upgrades Facebook to Buy with $200 price target
Guggenheim analyst Michael Morris upgraded Facebook to Buy from Neutral and raised his price target for the shares to $200 from $175. The social media giant closed yesterday down 66c to $173.54. Investors will continue to gain comfort with the incremental financial risk created by Facebook's content and privacy concerns, Morris tells investors in a research note. Further, the analyst believes the company's usage trends have remained "solid" and sees the potential for commerce and messaging monetization opportunities "as attractively priced within shares." Morris expects Facebook shares to outperform his broader Media & Entertainment coverage given its "above-average growth rate at a modest premium to overall market valuation."
SNAP Snap
$11.17

-0.03 (-0.27%)

03/14/19
BTIG
03/14/19
UPGRADE
BTIG
Buy
Snap upgraded to Buy from Neutral at BTIG
03/14/19
BTIG
03/14/19
UPGRADE
Target $15
BTIG
Buy
Snap upgraded to Buy from Neutral at BTIG
BTIG analyst Richard Greenfield upgraded Snap to Buy with a price target of $15, citing the "surge in spending in North America on Snapchat from advertisers", who are increasingly focused on its "compelling" return on investment. The analyst states that the low relative bid prices on advertising inventory for Snap started in Q3 and "really picked up" in Q4, anticipating direct impact on the company's revenue in 2019. Greenfield also cites the "meaningful reduction in clickbait/seedy influencer content" in Snap's Discover section and an increase in the "premium/publisher content - illustrating a change in the underlying algorithm, along with improved morale relative to "all-time lows" in 2018 after hiring of a number of new senior executives.
03/14/19
JEFF
03/14/19
NO CHANGE
Target $11
JEFF
Hold
Jefferies boosts Snap target to $11 after management meeting, keeps Hold rating
Jefferies analyst Brent Thill raised his price target for Snap to $11 from $9 after meeting with management. The analyst came away "generally impressed" with the "cohesion and positive steps" on the company's "road to recovery." While still early in the recovery, Snap has taken positive steps to internally improve, Thill tells investors in a research note. The Android rebuild roll-out is still early, but results are promising for full release by year end, the analyst adds. Further, he believes Snap's engagement "remains healthy" and that increasing partnerships and localization will help to continue to drive deeper reach. Thill's higher target reflects an increased multiple as well as Snap's increased monetization opportunity and expense control. Even with the shares up 80% year-to-date, investor sentiment continues to remain negative and there is opportunity for long term investors, the analyst contends. However, he feels Snap is "not out of the woods yet" and keeps a Hold rating on the name.
03/14/19
03/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Mills (GIS) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson saying although the stock is up 20% year-to-date, pressure still exists in the company's snack bar and soup categories, and divestment dilution risk looms. 2. Snap (SNAP) upgraded to Buy from Neutral at BTIG with analyst Richard Greenfield citing the "surge in spending in North America on Snapchat from advertisers," who are increasingly focused on its "compelling" return on investment. 3. Hilton (HLT) upgraded to Buy from Hold at Argus with analyst John Staszak saying the company should see above-peer-average earnings growth over time thanks to its "asset-light business model, in which it franchises rather than owns hotels." 4. Forum Energy (FET) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying the company has made free cash flow a priority and believes it can generate $100M annually. 5. Petrobras (PBR) upgraded to Buy from Hold at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AAL American Airlines
$33.73

0.73 (2.21%)

04/02/19
SPHN
04/02/19
NO CHANGE
Target $63
SPHN
Overweight
Airlines needed some good news, and Delta delivered, says Stephens
With investor sentiment on the airline space negative, the group was in need of some good news and Delta Air Lines delivered a positive surprise this morning, Stephens analyst Jack Atkins tells investors in a research note. The airline pointed Q1 RASM growth to the upper-end of its initial guidance range, lowered its Q1 CASM excluding fuel expectation and raised its Q1 earnings guidance range, says the analyst. Atkins finds it encouraging that Delta noted underlying passenger demand remains solid and that the business market led the way during the quarter. Further, the company announced an extension of its credit card partnership with American Express (AXP), which is expected to double the revenue contribution to $7B by 2023 versus 2018 levels, he notes. Atkins reiterates an Overweight rating on Delta with a $63 price target. The stock in midday trading is up 7% to $55.64. Other names in the airline space include Alaska Air (ALK), American Airlines (AAL), JetBlue (JBLU), Southwest (LUV), Spirit Airlines (SAVE) and United Continental (UAL).
03/13/19
MSCO
03/13/19
NO CHANGE
MSCO
Morgan Stanley says 737 MAX grounding shouldn't hurt long-term fundamentals
Morgan Stanley analyst Rajeev Lalwani noted that most major countries and airlines that operate Boeing's (BA) 737 MAX, except for the U.S. and Canada, have placed restrictions around the plane and his expectation is for a grounding of the fleet globally. In that base case, he said there is likely to be disruption to Boeing's deliveries and order activity that ultimately create a buying opportunity over the coming quarters as he thinks the issue should not impact fundamentals in the long run. In regard to suppliers such as Spirit AeroSystems (SPR) and United Technologies (UTX), Lalwani believes disruption will be limited, contrary to market reactions. Among U.S. airlines who operate the 737 MAX, Lalwani said Southwest (LUV) screens as most exposed versus American Airlines (AAL) and United Continental (UAL). For aircraft lessors like Air Lease (AL) and AerCap (AER), a global grounding scenario has "mixed implications," added the analyst. Though he remains comfortable with his Overweight rating and $500 price target on Boeing shares, Lalwani thinks clarity on the path ahead for the 737 will be needed for shares to resume their upward trend.
03/15/19
IMPC
03/15/19
NO CHANGE
Target $78
IMPC
Underperform
United Continental shares offer unfavorable risk/reward, says Imperial Capital
Imperial Capital analyst Michael Derchin says shares of United Continental Holdings (UAL) offer an unfavorable risk/reward opportunity at current levels. United's unit revenue momentum is likely to slow meaningfully and possibly inflect to negative territory by the second half of 2019, Derchin tells investors in a research note. The shares are trading at nearly a 40% premium to American Airlines (AAL) on fiscal 2020 earnings estimates despite relatively similar margin outlooks, adds the analyst. He keeps an Underperform rating on United Continental with a $78 price target.
03/15/19
IMPC
03/15/19
NO CHANGE
Target $43
IMPC
Outperform
American Airlines shares offer attractive risk/reward, says Imperial Capital
Imperial Capital analyst Michael Derchin says shares of American Airlines offer an attractive risk/reward opportunity and current levels. The analyst sees upside potential on earnings and unit revenues and believes current valuations reflect low expectations. He lowered his price target for American to $43 from $46 and maintains an Outperform rating on the name.
TEVA Teva
$14.90

-0.21 (-1.39%)

03/13/19
WELS
03/13/19
NO CHANGE
Target $68
WELS
Market Perform
Wells says generic risk, not Purdue news, bringing down Emergent shares
Wells Fargo analyst David Maris "completely" disagrees with the view that shares of Emergent BioSolutions (EBS) are weak today on news of Purdue Pharma's nalmefene injection receiving fast track designation from the FDA. Maris notes that none of his clients have raised this as a potential issue and that, as an injection, Purdue's pproduct is not comparable to Emergent's nasal naloxone. An injection is not practical for the emergency medical technician and at home market, where most of Narcan is used, Maris tells investors in a research note. For example, Amphastar (AMPH) is a leader in the injectable market, and the vast majority of its use is in the hospital setting, the analyst points out. Rather, Maris attributes the recent selloff in Emergent BioSolutions to worries about the potential introduction of a generic version of Narcan. Teva (TEVA) has had a tentative approval for generic Narcan for some time, and its 30 month stay is over today, meaning that Teva could launch at risk from this point forward, Maris writes. As of now, there is no clear indication whether Teva will launch or not, he adds. While the analyst is not expecting an at-risk Narcan launch, he believes the risk of such an event is largely reflected in the shares given today's decline. Nonetheless, Maris keeps a Market Perform rating on Emergent with a $68 price target. The stock in afternoon trading is down 9%, or $4.98, to $52.00.
03/19/19
RHCO
03/19/19
INITIATION
Target $17
RHCO
Hold
Teva initiated with a Hold at SunTrust
SunTrust analyst Gregg Gilbert initiated Teva with a Hold rating and a price target of $17, saying that while the new CEO Kare Schultz led a cost base restructuring effort and trying to turn around the U.S. generics business, those positive are likely factored into the stock price. The analyst adds that the company's recent delay in expecting to achieve its deleveraging target "may make existing holders anxious and potential holders more patient."
03/28/19
BMOC
03/28/19
INITIATION
Target $18
BMOC
Market Perform
Teva initiated with a Market Perform at BMO Capital
BMO Capital analyst Gary Nachman initiated Teva with a Market Perform rating and a price target of $18. The analyst commends the management for making progress in its turnaround strategy with "cost restructuring, stabilization of U.S. Generics, and launches of key specialty drugs Austedo and Ajovy." However, Nachman also cites continued "meaningful" headwinds from Copaxone and base U.S. Generics, adding that Teva's current pipeline is not "sufficient to drive a strong enough growth profile" that would support a higher valuation. The analyst is also concerned with Teva's high debt load that could weigh on its stock for the next few years.
03/28/19
03/28/19
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. Lyft (LYFT) initiated with a Neutral at Wedbush. 2. The Medicines Co. (MDCO) initiated with an Outperform at Baird. 3. Fate Therapeutics (FATE) initiated with an Outperform at SVB Leerink. 4. Teva (TEVA) initiated with a Market Perform at BMO Capital. 5. Pebblebrook Hotel (PEB) initiated with a Neutral at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
NLSN Nielsen
$26.43

2.18 (8.99%)

03/28/19
RHCO
03/28/19
NO CHANGE
Target $28
RHCO
Buy
SunTrust not convinced of change in outcome probabilities for Nielsen
SunTrust analyst Matthew Thornton kept his Buy rating and $28 price target on Nielsen, stating that while speculation in New York Post about Blackstone backing out of its bid has hit the price by over 10% afterhours, a separate source reported that the bidding process is "still "very much alive". The analyst states that given the conflicting reports, he is "not convinced that the outcome probabilities have changed that much", adding that the risk-reward on Nielsen is looking "more favorable" with the stock now trading near the "failed transaction valuation".
12/07/18
FBCO
12/07/18
INITIATION
Target $29
FBCO
Neutral
Nielsen initiated with a Neutral at Credit Suisse
Target $29.
03/07/19
RHCO
03/07/19
NO CHANGE
Target $28
RHCO
Buy
Nielsen Q4 results better than feared, says SunTrust
SunTrust analyst Matthew Thornton raised his price target on Nielsen to $28 and kept his Buy rating after its Q4 earnings, saying the results were "better than feared", with the management also getting "positive marks for increasing transparency and instilling confidence over execution". The analyst also raises his FY19 EBITDA outlook to $6.49B from $6.37B while speculating that the company may be taken private in the first half of 2019.
12/20/18
LOOP
12/20/18
NO CHANGE
Target $32
LOOP
Buy
comScore able to gain 'meaningful share', says Loop Capital
Loop Capital analyst Alan Gould kept his Buy rating and $32 price target on comScore (SCOR), saying the company's latest partnership announcement with E.W. Scripps (SSP) is confirming the management's "financial viability and credibility" relative to Nielsen (NLSN). Gould adds that as the industry evolves from linear to digital video, he sees comScore having the assets to gain meaningful share.
ZAYO Zayo Group
$29.30

1.28 (4.57%)

03/18/19
MSCO
03/18/19
NO CHANGE
Target $34
MSCO
Overweight
Zayo Group shares can continue to rally, says Morgan Stanley
Morgan Stanley analyst Simon Flannery noted that Zayo Group shares have rallied since the company postponed its March 14 analyst meeting as it evaluates strategic alternatives, but he sees several catalysts that should provide support for the stock over the coming months, including private equity interest, shareholder activism, a REIT response from the IRS and a potential Colocation/Allstream separation. He maintains an Overweight rating and $34 price target on Zayo Group shares.
02/04/19
COWN
02/04/19
NO CHANGE
Target $37
COWN
Outperform
Cowen believes Zayo Group deal is still likely in near-term
Cowen analyst Colby Synesael thinks Zayo Group and the previously reported private equity consortium have been unable to agree on a price so far, but he still thinks a deal is likely in the short-term. He expects Zayo to report downside for Q2 but he thinks booking will be good and that is the metric that will be focused on. Synesael maintained his Outperform rating and $37 price target on Zayo Group shares.
02/08/19
MSCO
02/08/19
NO CHANGE
Target $34
MSCO
Overweight
Zayo Group quarterly results a 'secondary focus' once again, says Morgan Stanley
Morgan Stanley analyst Simon Flannery said Zayo Group reported a nice rebound from last quarter's results and provided some encouraging data on the organic growth outlook with solid guidance for calendar 2019. However, "the quarterly results became a secondary focus of investors" once again as the company announced new plans to resegment the business into Network, zColo and Allstream, which makes it seem to him that the original plans to split into two public companies is now off the table for 2019. Additionally, Flannery quoted the company's CEO as stating that Zayo "is fully committed to considering alternatives that would maximize the value of our company. Investors should be confident that our board would engage with any party that makes a credible proposal that appropriately values the company." Flannery, who appreciates the improved results but thinks consistency "will be the ultimate determinant of the stock's performance," keeps an Overweight rating on Zayo shares.
02/11/19
DBAB
02/11/19
NO CHANGE
Target $31
DBAB
Buy
Zayo Group remains a preferred idea at Deutsche Bank
Deutsche Bank analyst Matthew Niknam says Zayo Group remains one of his preferred ideas. The analyst raised his price target for the shares to $31 from $30 and keeps a Buy rating on the name. Zayo has a "unique asset mix" as the largest independent owner of high-quality fiber in the U.S., Niknam tells investors in a research note. He believes this positions the company "in the sweet spot of Communications Infrastructure spending trends in upcoming years, as bandwidth needs rise from key verticals."
BP BP
$44.23

-0.005 (-0.01%)

02/05/19
DZBN
02/05/19
UPGRADE
DZBN
Buy
BP upgraded to Buy from Hold at DZ Bank
DZ Bank analyst Werner Eisenmann upgraded BP to Buy from Hold and raised his price target to GBP6.10 from GBP5.90.
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.
02/26/19
RBCM
02/26/19
NO CHANGE
RBCM
RBC upgrades Total, downgrades Shell after reserves analysis
RBC Capital analyst Biraj Bokhataria believes integrated oil and gas companies "could generate more free cash flow over the next few years than at any point over the last decade," but said the market continues to value them at a historical discount due to skepticism around the sharp drop in capex. Growing confidence in the outlook for reserves could lead to greater credibility in organic free cash flow, said Bokhataria, who sees stable to improving reserve life trends at BP (BP), Chevron (CVX), Eni (E), and Galp (GLPEY). Royal Dutch Shell (RDS.A) and Repsol (REPYY) screen as the weakest in his analysis, noted Bokhataria who downgraded Royal Dutch Shell to Sector Perform from Outperform following the reserves analysis. The analyst also said that, at today's share price, he thinks Shell needs at least another $30B in buybacks in order to reduce its dividend burden to a sustainable level and that buyback need could limit its options to high-grade its portfolio. Bokhataria also upgraded Total (TOT) to Outperform, as he sees the company's reserve life "to trickle lower," but mainly due to its "particularly strong growth pipeline," which he added comes from the most diverse set of projects in the sector.
03/05/19
MSCO
03/05/19
NO CHANGE
MSCO
Morgan Stanley downgrades Energy sector to Equal Weight from Overweight
Morgan Stanley equity strategist Michael Wilson said the firm's strategy team expects further declines in earnings forecasts for the Energy sector and are moving to Equal Weight from Overweight on the sector while they remain overweight Utilities. The firm's Energy and Utilities analysts highlight Baker Hughes (BHGE), Bloom Energy (BE), BP (BP), ConocoPhillips (COP), FirstEnergy (FE), Marathon Petroleum (MPC), Suncor (SU), TechnipFMC (FTI) and Tenaris (TS) as their top picks.
FOXA Fox Corp.
$36.06

-0.44 (-1.21%)

03/22/19
03/22/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Energizer (ENR) initiated with a Neutral at JPMorgan. 2. Fox Corp. (FOXA) initiated with an Equal Weight at Barclays. 3. Western Gas Partners (WES) initiated with an Equal Weight at Barclays. 4. Linde plc (LIN) initiated with a Hold at Argus. 5. SurveyMonkey (SVMK) initiated with an Overweight, named a Best Idea at Stephens. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/25/19
03/25/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Frontdoor (FTDR) initiated with an Overweight at JPMorgan. 2. LivePerson (LPSN) initiated with an Overweight at Piper Jaffray. 3. Kaleido Biosciences (KLDO) initiated with an Overweight at Morgan Stanley, a Buy at Canaccord and Goldman Sachs, and a Neutral at JPMorgan. 4. Fox Corp. (FOXA) initiated with a Hold at Loop Capital and an Overweight at JPMorgan. 5. Gold Resource (GORO) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/25/19
LOOP
03/25/19
INITIATION
Target $42
LOOP
Hold
Fox Corp. initiated with a Hold at Loop Capital
Loop Capital analyst Alan Gould initiated Fox Corp with a Hold rating and a price target of $42. The analyst notes that although the company is "well positioned for the evolving media world as a news and sports programmer with two channels that all distributors effectively must carry, Fox Broadcast and Fox News," its valuation stands at a premium to most of the traditional media companies. The analyst also warns that Fox's cable affiliate revenue growth is set to moderate even though its "corporate overhead will be elevated for the next couple of years."
03/25/19
JPMS
03/25/19
INITIATION
Target $46
JPMS
Overweight
Fox Corp. initiated with an Overweight at JPMorgan
JPMorgan analyst Alexia Quadrani started Fox Corp. with an Overweight rating and $46 price target. Fox has an "impressive mix of businesses," including "strong" cable channels and a major broadcast network with a leading local TV footprint, Quadrani tells investors in a research note. She believes the shares will maintain a premium valuation over the average in her large-cap media universe, implying "notable upside" to shares from the current level.
UNIT Uniti Group
$12.09

0.805 (7.13%)

03/19/19
SBSH
03/19/19
NO CHANGE
Target $8
SBSH
Sell
Uniti Group price target lowered to $8 from $11 at Citi
Citi analyst Michael Rollins lowered his price target for Uniti Group to $8 from $11 saying he remains concerned about the company's cash position and the continued demands on its balance sheet during 2019. He keeps a Sell rating on the shares.
03/05/19
03/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Uniti Group (UNIT) downgraded to Underperform from Market Perform at Wells Fargo with analyst Jennifer Fritzsche saying the company released an 8K which indicated a significant cut in the dividend. 2. Adamas Pharmaceuticals (ADMS) downgraded to Underperform from Neutral at Mizuho, to Market Perform from Outperform at Cowen, and to Hold from Buy at Needham. 3. SQM (SQM) downgraded to Neutral from Buy at Citi with analyst Andrew McCarthy saying he continues to like the long-term lithium demand story but does not expect share price outperformance over the next 12 months. 4. Orange SA (ORAN) downgraded to Equal Weight from Overweight at Barclays with analyst Mathieu Robilliard saying an "irrational level of promotions" in 2018 continue to weigh on French telecoms. 5. Inter Parfums (IPAR) downgraded to Neutral from Buy at DA Davidson with analyst Linda Bolton Weiser citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/25/19
RBCM
03/25/19
NO CHANGE
Target $9
RBCM
Sector Perform
RBC Capital adds Speculative Risk qualifier to Uniti Group
RBC Capital analyst Bora Lee keeps his Sector Perform rating on Uniti Group (UNIT) but adds a "Speculative Risk" qualifier and lowers the price target on the shares to $9 from $15. The analyst says the company's Q4 results last week were "solid", but the quarter was "overshadowed by the Windstream (WIN) situation", adding that the stock will likely "continue to experience volatility" from Windstream bankruptcy. Lee adds that installs were impacted by Hurricane Michael, even though the company "continues to expect the majority of its existing dark fiber and small cell construction projects to be completed" by the end of 2019.
03/05/19
03/05/19
DOWNGRADE
Target $8

Underperform
Uniti Group downgraded to Underperform on too much uncertainty at Wells Fargo
As previously reported, Wells Fargo analyst Jennifer Fritzsche downgraded Uniti Group (UNIT) to Underperform from Market Perform and lowered her price target on the shares to $8 from $17. The analyst notes that the company released an 8K which indicated a significant cut in the dividend. Fritzsche believes the February 15 ruling against Windstream (WIN) in its case versus Aurelius Capital Management, and the ripple effect on Uniti including a delay of the company's Q4 earnings and potential default in its credit agreement, has introduced a great degree of uncertainty into the story. While the analyst continues to believe Uniti's fiber assets are attractive, the company's path toward diversifying away from its Windstream exposure has become more difficult to model.

TODAY'S FREE FLY STORIES

AEP

American Electric

$82.92

-0.04 (-0.05%)

, SRE

Sempra Energy

$125.35

-2.07 (-1.62%)

16:22
04/22/19
04/22
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American Electric: Purchase of wind assets from Sempra 'immediately accretive' »

American Electric Power…

AEP

American Electric

$82.92

-0.04 (-0.05%)

SRE

Sempra Energy

$125.35

-2.07 (-1.62%)

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O

Realty Income

$67.89

-0.66 (-0.96%)

16:21
04/22/19
04/22
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Realty Income acquires twelve properties in UK for GBP429M and raises FY19 FFO »

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
Closing CBOE SPX and VIX Index summary for April 22nd »

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VCYT

Veracyte

$23.04

0.02 (0.09%)

16:19
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Veracyte gets regulatory authorization to offer Envisia Genomic Classifier in NY »

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CMRE

Costamare

$5.65

-0.09 (-1.57%)

16:19
04/22/19
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Earnings
Costamare reports Q1 adj. EPS 12c, consensus 9c »

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AEP

American Electric

$82.92

-0.04 (-0.05%)

16:19
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Earnings
Breaking Earnings news story on American Electric »

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TSLA

Tesla

$262.90

-10.35 (-3.79%)

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NOG

Northern Oil and Gas

$2.73

0.125 (4.81%)

16:18
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Northern Oil and Gas to acquire Williston Basin properties of VEN Bakken »

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NBTB

NBT Bancorp

$36.77

-0.28 (-0.76%)

16:18
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Earnings
NBT Bancorp reports Q1 EPS 66c, consensus 63c »

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WHR

Whirlpool

$139.39

0.35 (0.25%)

16:17
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Breaking Hot Stocks news story on Whirlpool »

Whirlpool up 5.8% to…

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JMP

JMP Group

$3.99

(0.00%)

16:17
04/22/19
04/22
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Hot Stocks
JMP Group announces extension of share repurchase program »

JMP Group LLC announced…

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  • 23

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KAR

KAR Auction

$55.91

-0.59 (-1.04%)

16:17
04/22/19
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Insurance Auto Auctions appoints Vance Johnston as CFO »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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Technical Analysis
NASDAQ market internals summary »

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FBK

FB Financial

$33.76

-0.9 (-2.60%)

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Earnings
FB Financial reports Q1 adjusted EPS 66c, consensus 59c »

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BOH

Bank of Hawaii

$81.30

0.54 (0.67%)

16:17
04/22/19
04/22
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16:17
Downgrade
Bank of Hawaii rating change  »

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WHR

Whirlpool

$139.39

0.35 (0.25%)

16:16
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Whirlpool CEO says 'we delivered another strong quarter' »

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CTRC

Centric Brands

$3.84

-0.04 (-1.03%)

16:16
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Centric Brands receives notification of deficiency from Nasdaq »

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TTD

Trade Desk

$211.14

12.38 (6.23%)

16:16
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Initiation
Trade Desk initiated at Needham »

Trade Desk initiated with…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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NYSE market internals summary »

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ZION

Zions Bancorp

$46.68

-0.63 (-1.33%)

16:15
04/22/19
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Earnings
Zions Bancorp reports Q1 EPS $1.04, consensus $1.05 »

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WHR

Whirlpool

$139.39

0.35 (0.25%)

16:15
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Hot Stocks
Breaking Hot Stocks news story on Whirlpool »

Whirlpool sees FY19 CapEx…

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  • 23

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SIMO

Silicon Motion

16:14
04/22/19
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16:14
Downgrade
Silicon Motion rating change  »

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CDNS

Cadence Design

$64.23

0.865 (1.37%)

16:14
04/22/19
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Hot Stocks
Cadence Design reports Q1 operating margin 32% vs 28% last year »

Cadence Design CFO John…

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RCKT

Rocket Pharmaceuticals

$17.80

0.93 (5.51%)

16:14
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Initiation
Rocket Pharmaceuticals initiated  »

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WHR

Whirlpool

$139.31

0.27 (0.19%)

16:14
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Hot Stocks
Whirlpool CFO says 'on track' to meet FY earnings, cash flow guidance »

"In addition to our…

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