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RAD

Rite Aid

$0.51

-0.0599 (-10.51%)

, CVS

CVS Health

$52.72

-1.16 (-2.15%)

06:26
04/12/19
04/12
06:26
04/12/19
06:26

Rite Aid to stop e-cigarette sales, continue regular cigarette sales, WSJ says

Rite Aid (RAD) will stop the sale of e-cigarettes in its stores but will continue to sell traditional cigarettes after rival CVS (CVS) decided to no longer sell either and Walgreens (WBA) chose to continue to sell both, the Wall Street Journal's Patrick Thomas reports, citing comments operating chief Bryan Everett made on a conference call. The company will remove all e-cigarette and vaping products, including Juul Lab's vaporizers, over the next 90 days in order to respond to the product use by children and teens. Reference Link

RAD

Rite Aid

$0.51

-0.0599 (-10.51%)

CVS

CVS Health

$52.72

-1.16 (-2.15%)

WBA

Walgreens Boots Alliance

$53.45

-1.07 (-1.96%)

  • 01

    May

RAD Rite Aid
$0.51

-0.0599 (-10.51%)

10/12/18
RHCO
10/12/18
NO CHANGE
Target $75
RHCO
Hold
Walgreens Boots Alliance price target raised to $75 from $66 at SunTrust
SunTrust analyst David MacDonald raised his price target on Walgreens Boots Alliance (WBA) to $75 after its Q4 earnings beat and FY19 guidance yesterday. The analyst says the results were marked by "solid U.S. pharmacy performance" in spite of the ongoing reimbursement and generic headwinds. MacDonald also keeps his Hold rating, adding that while the company's cash flow remains "robust" and the integration of Rite Aid (RAD) is still on track, he is concerned about the challenging environment and ongoing degradation in gross margins.
12/20/18
LOOP
12/20/18
NO CHANGE
Target $1
LOOP
Hold
Rite Aid price target lowered to $1.00 at Loop Capital
Loop Capital analyst Andrew Wolf lowered his price target on Rite Aid to $1.00 from $1.35 and kept his Hold rating after its Q3 results. The analyst notes that while the company beat on earnings, it brought down the midpoint of its FY19 guidance, which suggests that the company is not yet an an operational inflection point. Wolf adds that while the stock trades at a discount to the drugstore group, he sees it as appropriate given the "higher debt leverage and subscale operations."
12/14/18
GSCO
12/14/18
DOWNGRADE
Target $68
GSCO
Sell
Goldman downgrades Walgreens to Sell with $68 target, sees downside in 2019
Goldman Sachs analyst Robert Jones downgraded Walgreens Boots Alliance (WBA) to Sell from Neutral and lowered his price target for the shares to $68 from $73. The analyst says he struggles to make a "compelling fundamental case" for the Americas Healthcare Services Supply Chain heading into 2019 as "issues facing core growth drivers do not seem to be abating." Jones sees limited "core" growth for the large-cap names amid persisting sales and margin pressures and as drug pricing remains a regulatory focus. He downgrades Walgreens to Sell saying challenges in its retail pharmacy business "have intensified, forcing the company to search for other avenues of growth." Jones also keeps a Neutral rating on CVS Health (CVS) and Sell rating on Rite Aid (RAD).
11/19/18
JEFF
11/19/18
NO CHANGE
JEFF
Jefferies uncovers signs of Amazon expanding prescription drug presence
Jefferies analyst Brian Tanquilut says his proprietary checks of Amazon.com's (AMZN) moves in the pharmacy space indicate that the online retailer has finally made moves to expand PillPack. However, the initial expansion phase appears focused on offering pharmacy services to Amazon employees in Washington. In his most recent webscrape, Tanquilut came across a new prescription license in WA, two pending Rx licenses in New Mexico and Indiana, and pharmacy technician and packaging/shipping job postings all linked to PillPack's Phoenix facility. These new developments signal the beginning of Amazon's prescription expansion via PillPack, Tanquilut tells investors in a research note. If Amazon were to rollout a more extensive PillPack offering to its own employee base, Rite Aid (RAD) could be most exposed to potential script transfers with Walgreens Boots Alliance (WBA) the least exposed among the public drugstores, says the analyst. He still believes that the impact of Amazon's pharmacy entry will take a while to materialize for drug stores CVS Health (CVS) and Walgreens.
CVS CVS Health
$52.72

-1.16 (-2.15%)

04/10/19
CANT
04/10/19
NO CHANGE
CANT
Senate hearing a net positive for PBMs, says Cantor Fitzgerald
Cantor Fitzgerald analyst Steven Halper views yesterday's Senate hearing as a net positive for the pharmacy benefit managers. The PBMs represented were Cigna (CI), CVS Health (CVS), UnitedHealth (UNH), Humana (HUM) and Prime Therapeutics. Although the Senators were not supportive of the PBMs, the executives responded well to questions and put forth a solid effort to address concerns regarding their business model and incentives, Halper tells investors in a research note. Overall, he views the hearing as a net positive for PBMs "as the group was able to counter the negative sentiment with constructive responses, recognizing this story is far from over."
04/10/19
RHCO
04/10/19
NO CHANGE
RHCO
SunTrust lowers price targets on CVS, raises price target on WellCare
SunTrust analyst David MacDonald lowered his price target on CVS (CVS) to $65 from $85 as part of his broader research note previewing Q1 results for the healthcare services stocks. The analyst expects the quarter to reflect the company's challenges around reimbursement pressure, fewer generics, and lower brand inflation that should be a detriment to retail pharmacy and long-term-care businesses, even though he maintains a bullish view on the stock longer term based on its risk-reward profile. MacDonald also raises his price target on WellCare (WCG) to $340 from $305, saying his bullish expectation for the stock is driven by the company's "strong core trends, high visibility, and superb win rate". The analyst also cites the pending WellCare acquisition by Centene (CNC) yielding a "meaningful combined pharmacy opportunity and increased diversification" from an expanded "Medicaid footprint".
04/10/19
BMOC
04/10/19
INITIATION
BMOC
Market Perform
CVS Health initiated with a Market Perform at BMO Capital
BMO Capital analyst Matt Borsch initiated CVS Health with a Market Perform rating and a $58 price target. The analyst said that he is aware of the low valuation of the stock, but is "wary of further deterioration in the outlook given headwinds on CVS legacy businesses that have recently intensified," and is not confident "the pressures will diminish next year."
04/11/19
04/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Hold at HSBC. 2. Apple (AAPL), Dell Technologies (DELL), and HP Inc. (HPQ) initiated with a Neutral at Credit Suisse. 3. Yeti (YETI) initiated with an Outperform at Cowen. 4. CVS Health (CVS) initiated with a Market Perform at BMO Capital. 5. Canadian Solar (CSIQ) assumed with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
WBA Walgreens Boots Alliance
$53.45

-1.07 (-1.96%)

04/03/19
RHCO
04/03/19
NO CHANGE
Target $58
RHCO
Hold
Walgreens Boots Alliance price target lowered to $58 from $75 at SunTrust
SunTrust analyst David MacDonald lowered his price target on Walgreens Boots Alliance to $58 and kept his Hold rating after its "weak" Q2 results and a "meaningful" cut to its guidance. The analyst says the outlook changes were driven by "reimbursement headwinds, sluggish retail volumes, and a challenging UK operating environment". In spite of the management's "several mitigation efforts", MacDonald contends that industry challenges will not "meaningfully abate in the near/intermediate term", adding that it will take time for Walgreens Boots management to "drive increased efficiency and re-accelerate growth."
04/03/19
04/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank with analyst Chad Dillard saying the biggest risk to the bull case for Caterpillar is if its backlog growth turns negative, "and it is becoming increasingly clear that it will within this next quarter." 2. Dunkin' Brands (DNKN) downgraded to Market Perform from Outperform at BMO Capital with analyst Andrew Strelzik saying that while he remains positive on the company's underlying fundamentals over the long term, he sees risk/reward at current levels as "less persuasive." 3. Tallgrass Energy (TGE) downgraded to Neutral from Buy at Goldman Sachs with analyst Michael Lapides citing the stock's recent outperformance and also warns that its Rockies Express Pipeline natural gas pipeline and Pony Express crude oil pipeline contract roll-offs pose "overhangs," even though the "volume growth out of Bakken, Niobrara, and Powder River Basin could offset this over time." 4. Walgreens Boots Alliance (WBA) downgraded to Hold from Buy at Loop Capital with analyst Andrew Wolf citing the company's disappointing Q2 earnings and FY19 guidance announced yesterday "driven by significantly lower-than-forecasted gross margin resulting from increased pharmacy reimbursement rate pressure in the U.S." 5. Alcoa (AA) downgraded to Neutral from Buy at BofA/Merrill with analyst Timna Tanners saying she now sees limited free cash flow payments by Alcoa to upstream AWAC joint-venture partner Alumina Ltd, potential excess alumina/bauxite supply, and potential price risks from the Alunorte refinery restarting, the world's largest refinery. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/19
04/03/19
DOWNGRADE
Target $60

Hold
Walgreens Boots Alliance downgraded to Hold at Loop Capital on disappointing Q2
As previously reported, Loop Capital analyst Andrew Wolf downgraded Walgreens Boots Alliance to Hold from Buy and lowered his price target to $60 from $77. The analyst cites the company's disappointing Q2 earnings and FY19 guidance announced yesterday "driven by significantly lower-than-forecasted gross margin resulting from increased pharmacy reimbursement rate pressure in the U.S." Wolf also attributes the underperformance to the "lack of meaningful offsetting savings in generic drug procurement" and anticipates these conditions to persist for the remainder of 2019. Because of the "lack of visibility of intermediate-term earnings growth", the analyst also lowers his FY19 EPS view to $6.00 from $6.50.
04/03/19
MSCO
04/03/19
NO CHANGE
MSCO
Morgan Stanley says Walgreens' reimbursement pressure points to distributor risk
Morgan Stanley analyst Ricky Goldwasser said the guidance cut made by Walgreens Boots Alliance (WBA) is due to the same "perfect storm of industry headwinds" addressed by CVS Health (CVS) earlier in the year, including increased reimbursement pressure, lower generic deflation, lower brand inflation and declining comparable sales in the front-end of the store. Though Walgreens management suggested reimbursement headwinds should normalize in fiscal 2020, Goldwasser said he could see more downside from continued reimbursement headwinds and structural changes if new rebate rule comes into play. He also views pharmacy reimbursement pressure as a leading indicator suggesting risk to distributors' sell side margins and earnings, including for AmerisourceBergen (ABC), which Goldwasser notes is part of the WBAD purchasing consortium. Other drug distributors include McKesson (MCK) and Cardinal Health (CAH).

TODAY'S FREE FLY STORIES

PINS

Pinterest

$24.46

(0.00%)

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HUM

Humana

$240.65

7.645 (3.28%)

, CI

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TSLA

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AMD

AMD

$27.68

0.18 (0.65%)

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AAPL

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SAM

Boston Beer

$266.90

0.89 (0.33%)

12:37
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  • 24

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SPOT

Spotify

$139.53

1.88 (1.37%)

12:30
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  • 29

    Apr

BA

Boeing

$380.02

2.48 (0.66%)

, HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

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$380.02

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$25.79

0.03 (0.12%)

SAFM

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$141.70

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TSN

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$73.49

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CCL

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RCL

Royal Caribbean

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NCLH

Norwegian Cruise Line

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WFTBF

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$0.00

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IFSPF

Interfor

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CFPZF

Canfor

$0.00

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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
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MSC Industrial management to meet with William Blair »

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KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

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AWK

American Water

$104.63

2.32 (2.27%)

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FSNN

Fusion

$0.24

0.0048 (2.01%)

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PSA

Public Storage

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V

Visa

$160.14

-0.33 (-0.21%)

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NAVB

Navidea

$0.17

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

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PRK

Park National

$93.98

-2.72 (-2.81%)

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STNE

StoneCo

$26.50

-8.25 (-23.74%)

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GPIC

Gaming Partners

$13.09

(0.00%)

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
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Charles Schwab to hold a webcast »

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12:45
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General news
Breaking General news story  »

Week of 4/19 Baker-Hughes…

MMNFF

MedMen

$0.00

(0.00%)

11:13
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MedMen announces resignations of COO and General Counsel »

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
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Turkcell sees conclusion of $4.2B lawsuit against MTN this year »

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
04/19/19
04/19
11:05
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11:05
Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

Robert Mangano, President…

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
04/19/19
04/19
11:03
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11:03
Hot Stocks
Qumu announces death of director Thomas Madison »

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