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BAC

Bank of America

$30.18

1.11 (3.82%)

, NFLX

Netflix

$351.14

-16.64 (-4.52%)

07:35
04/15/19
04/15
07:35
04/15/19
07:35

Unusual call flow in option market yesterday

Notable call activity was cited Friday in Bank of America (BAC), Netflix (NFLX), Microsoft (MSFT), Disney (DIS), Wells Fargo (WFC), Caesars (CZR), Freeport McMoRan (FCX), Goldman Sachs (GS), Centene (CNC), and 21st Century Fox (FOXA).

BAC

Bank of America

$30.18

1.11 (3.82%)

NFLX

Netflix

$351.14

-16.64 (-4.52%)

MSFT

Microsoft

$120.97

0.64 (0.53%)

DIS

Disney

$130.03

13.4 (11.49%)

WFC

Wells Fargo

$46.49

-1.25 (-2.62%)

CZR

Caesars

$9.46

0.08 (0.85%)

FCX

Freeport McMoRan

$13.70

0.34 (2.54%)

GS

Goldman Sachs

$207.86

4.975 (2.45%)

CNC

Centene

$52.92

-2.19 (-3.97%)

FOXA

Fox Corp.

$37.52

0.42 (1.13%)

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BAC Bank of America
$30.18

1.11 (3.82%)

03/25/19
JEFF
03/25/19
NO CHANGE
JEFF
Jefferies downgrades Financials to Underweight on 'shocking' Fed meeting
Jefferies analyst Steven DeSanctis is "very surprised" by last week's Federal Reserve's decision taking rate hikes completely off table in 2019. The "shocking" Fed meeting means lower rates for longer, which is not good for Financials, DeSanctis tells investors in a research note. A "lack of catalysts and weaker earnings growth" going forward for the entire sector, not just banks, means an Underweight rating on the space makes sense, says the analyst. As such, he downgraded his rating on the Financial sector to Underweight from Market Weight. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
04/04/19
HSBC
04/04/19
INITIATION
Target $29
HSBC
Hold
Bank of America initiated with a Hold at HSBC
HSBC analyst Alevizos Alevizakos initiated Bank of America with a Hold and $29 price target saying share valuation reflects higher RoTE improvement, which likely peaked in 2018. The analyst said declining loan growth, margin contraction, a shrinking investment banking wallet, and decelerating topline growth to result in future deceleration.
02/08/19
DAIW
02/08/19
DOWNGRADE
DAIW
Neutral
Bank of America downgraded to Market Perform from Outperform at Daiwa
04/04/19
04/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Etsy (ETSY) initiated with a Buy at Canaccord. 2. Renewable Energy (REGI) initiated with an Overweight at Piper Jaffray. 3. Smartsheet (SMAR) initiated with an Outperform at Oppenheimer. 4. Bank of America (BAC) initiated with a Hold at HSBC. 5. Synnex (SNX) initiated with an Outperform at Barrington. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
NFLX Netflix
$351.14

-16.64 (-4.52%)

04/11/19
KEYB
04/11/19
NO CHANGE
KEYB
Sector Weight
Netflix Q1 earnings, Q2 outlook should remain 'solid,' says KeyBanc
KeyBanc analyst Andy Hargreaves expects Netflix's Q1 results to be at least in line with consensus, and guidance for Q2 global paid net adds ahead of the sell-side consensus of 5.7M. The analyst reiterates a Sector Weight rating on the shares.
04/12/19
RHCO
04/12/19
NO CHANGE
RHCO
Disney+ not a 'strong alternative' to Netflix, says SunTrust
SunTrust analyst Matthew Thornton keeps his Buy rating on Netflix (NFLX) after Disney's (DIS) Disney+ investor day presentation, saying that while he continues to view the platform posing incremental competition for new subscriber adds, he expects it to be "manageable". The analyst notes that the Disney+ event contained "no big surprises in terms of pricing, timing, availability, and content", adding that the accelerated cord-cutting from the launch should also be positive for Netflix, which offers a "much broader range of content". Thornton further states that Disney+ should be a "modest incremental positive" for his Buy-rated Roku (ROKU) as it will be available for sale on its platform given its "potential for direct monetization."
04/12/19
MSCO
04/12/19
NO CHANGE
Target $135
MSCO
Overweight
Morgan Stanley says Disney+ sub outlook, profitability path better than expected
Morgan Stanley analyst Benjamin Swinburne said Disney's (DIS) target for 60M-90M Disney+ subscribers by year-end 2024 was well above his prior 30M subscriber expectation and that the company's guidance for roughly 110M-160M subscriptions for its three major OTT subscription services by 2024 was also well ahead of his forecast for just over 90M. Profitability by FY24 is also earlier than his expectations, noted Swinburne, who believes Disney's expected timeline for DTC profitability has positive implications for long-term EPS. While there may be short-term pressure on Netflix (NFLX) following the Disney investor day, Swinburne advises investors use any selloff as a buying opportunity, citing his view that Netflix will still be offering greater breadth and volume of content. The analyst keeps Overweight ratings on Disney and Netflix shares.
04/15/19
RHCO
04/15/19
NO CHANGE
Target $402
RHCO
Buy
Netflix monthly tracker points to modest Q1 upside, says SunTrust
SunTrust analyst Matthew Thornton kept his Buy rating and $402 price target on Netflix ahead of its earnings tomorrow, saying his proprietary tracker for subscriber adds indicates Q1 coming in-line domestically with a modest upside internationally. For Q2, the analyst sees consensus domestically being a "high hurdle" for his tracker and a low hurdle internationally. Thornton adds that his Content Tracker for Netflix "was up nicely" in Q1 while valuation shows the stock trading well off the highs based on sales and EBITDA multiples relative to the S&P500.
MSFT Microsoft
$120.97

0.64 (0.53%)

04/05/19
OPCO
04/05/19
NO CHANGE
Target $127
OPCO
Outperform
Microsoft well positioned for digital transformations, says Oppenheimer
Oppenheimer analyst Tim Horan says he continues to believe Microsoft (MSFT) is well positioned for digital transformations. The company made several other announcements this week, including partnering with Adobe (ADBE) to compete with Saleforce (CRM), an IoT manufacturing platform with BMW (BMWYY), and more sales/marketing software to eCommerce companies, he says. Horan maintains an Outperform rating and $127 price target.
04/09/19
BWSF
04/09/19
NO CHANGE
Target $32
BWSF
Buy
Avaya could fetch up to $25 from PE buyer, says BWS Financial
Additional news reports about Avaya (AVYA) possibly going private since an initial Reuters report build some credibility about the news, said BWS Financial analyst Hamed Khorsand, who believes Avaya could fetch as much as $25 from a private equity buyer using fiscal 2019 estimates and could be worth as much $30 assuming no improvement in the business for fiscal 2020. He thinks greater synergies could be extracted by a strategic buyer and continues to believe Microsoft (MSFT) would be the best fit as an acquirer. Khorsand keeps a Buy rating and $32 price target on Avaya shares.
04/10/19
WBLR
04/10/19
NO CHANGE
WBLR
MongoDB partnership with Google a positive development, says William Blair
Google (GOOG, GOOGL) announced yesterday at its annual Cloud Next developer conference a slew of partnerships with open source database and analytics vendors, including MongoDB (MDB), William Blair analyst Jason Ader tells investors in a research note. Instead of competing with these vendors, like its main rival Amazon Web Services (AMZN) has generally chosen to do, Google is deepening integrations with these open source solutions in an effort to simplify customer adoption of them through the Google Cloud Platform, says Ader. He believes that although Google Cloud Platform is a "distant third" in market share to AWS and Microsoft's (MSFT) Azure, the news is a positive development for MongoDB "that could begin to bring more attention to and turn the tide against open source strip mining." Ader reiterates an Outperform rating on MongoDB shares.
04/09/19
CLVD
04/09/19
NO CHANGE
CLVD
Cleveland Research says Okta commentary 'favorable' at Oktane19
Cleveland Research does not formally cover or have an investment opinion in Okta, but Cleveland analyst Ben Bollin noted that partner commentary from Oktane19, Okta's annual partner conference, was "positive on the company's growth trajectory and competitive position," and that it seems Okta is winning at the expense of legacy vendors such as Oracle (ORCL). Bollin also noted that Microsoft (MSFT) seems to be Okta's main competitive threat in identity & access management. In midday trading, shares of Okta are higher by 5.2% to $92.13.
DIS Disney
$130.03

13.4 (11.49%)

04/15/19
IMPC
04/15/19
NO CHANGE
Target $139
IMPC
Outperform
Disney price target raised to $139 from $129 at Imperial Capital
Imperial Capital analyst David Miller raised his price target for Walt Disney to $139 from $129 and maintains an Outperform rating on the shares. The stock closed Friday up 11.5%, or $13.46, to $130.06. Once the Street becomes more aware of the Disney's fiscal 2020 film slate, all three over-the-top streaming services being rolled out, both Star Wars lands being up and running, and its share buybacks resume, there's no reason why the stock cannot re-establish a trading multiple in the high-teens, Miller tells investors in a research note. Specifically, he sees the stock reaching 18 times his fiscal 2021 pro forma earnings per share estimate of $7.70.
04/12/19
04/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Redfin (RDFN) initiated with an Outperform at Wedbush. 2. Autodesk (ADSK) initiated with a Buy at Mizuho. 3. Upwork (UPWK) initiated with a Buy at BTIG. 4. Otter Tail (OTTR) initiated with a Buy at Maxim. 5. Disney (DIS) reinstated with an Overweight 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.
04/12/19
RBCM
04/12/19
NO CHANGE
Target $140
RBCM
Top Pick
Disney+ content, ARPU 'compelling', says RBC Capital
RBC Capital analyst Steven Cahall kept his Top Pick rating and $140 price target on Disney after its Investor Day, saying the presentation "exceeded expectations and should turn sentiment bullish." The analyst sees Disney+ content and expectations of average revenue per user as "compelling" while noting that the guidance for subscribers was "significantly higher" than expected. Cahall believes that Disney stock can rise above $130 "in short order" and extend gains to $140 within the next 12 months.
WFC Wells Fargo
$46.49

-1.25 (-2.62%)

04/15/19
DBAB
04/15/19
NO CHANGE
Target $48
DBAB
Hold
Wells Fargo price target lowered to $48 from $54 at Deutsche Bank
Deutsche Bank analyst Matt O'Connor lowered his price target for Wells Fargo to $48 from $54 citing management's reduced outlook for net interest income and fewer share buybacks. The analyst keeps a Hold rating on Wells Fargo.
04/15/19
GSCO
04/15/19
DOWNGRADE
Target $48
GSCO
Neutral
Goldman downgrades Wells Fargo to Neutral, takes off Conviction list
Goldman Sachs analyst Richard Ramsden on Friday night downgraded Wells Fargo to Neutral from Buy and removed the shares from his firm's Americas Conviction List. The recent departure of Tim Sloan and questions over the time it will take to find a replacement, coupled with commentary on the Q1 earnings call around weaker than expected net interest income growth for 2019, has increased focus on Wells Fargo's ability to meet near term and longer term financial targets, Ramsden tells investors in a research note. The analyst expects the company's medium term operating leverage potential to be impacted by weaker net interest income growth. He cut his price target for the shares to $48 from $58.
04/15/19
EVER
04/15/19
DOWNGRADE
EVER
In Line
Wells Fargo downgraded to In Line from Outperform at Evercore ISI
04/15/19
BOFA
04/15/19
DOWNGRADE
BOFA
Neutral
Wells Fargo downgraded to Neutral from Buy at BofA/Merrill
CZR Caesars
$9.46

0.08 (0.85%)

01/16/19
BOFA
01/16/19
DOWNGRADE
Target $9
BOFA
Neutral
Caesars downgraded to Neutral following rally at BofA/Merrill
BofA/Merrill analyst Shaun Kelley downgraded Caesars to Neutral from Buy and lowered its price target to $9. Kelley is using the rally year-to-date in shares to downgrade saying he is more cautious longer-term towards Las Vegas pricing power and growth.
01/18/19
MSCO
01/18/19
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Las Vegas to Macau in gaming entering 2019
Morgan Stanley analyst Thomas Allen said he is confident that the Las Vegas outlook is better than perceived after Q4 appears to have shown a meaningful rebound, noting also that his convention tracker supports strong 2019 demand growth and that flight capacity to the market is growing. Meanwhile, as a firm, Morgan Stanley has cut its Macau market gaming revenue outlook and industry view, Allen noted. Combining his Las Vegas outlook and bullish stance on regional U.S. gaming, Allen called MGM Resorts (MGM) and Caesars (CZR) his preferred large cap gaming stocks entering 2019, stating that he believes expectations for both are beatable. He reiterates Overweight ratings on both, as well as on Las Vegas Sands (LVS), and keeps an Equal Weight rating on Wynn Resorts (WYNN).
03/20/19
FBCO
03/20/19
INITIATION
Target $13
FBCO
Outperform
Caesars assumed with an Outperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Caesars with an Outperform rating and $13 price target.
03/20/19
JPMS
03/20/19
NO CHANGE
Target $60
JPMS
Overweight
Eldorado shares could be worth $72-$80 with Caesars deal, says JPMorgan
JPMorgan analyst Daniel Politzer estimates that an Eldorado Resorts (ERI) acquisition of Caesars Entertainment (CZR) could generate $300M in synergies, imply a valuation of $72-$80 per share, and be ~50% accretive on a free cash flow per share basis. Reuters reported over the weekend that the two companies are in merger talks. The analyst's scenario contemplates Eldorado acquiring Caesars for $10.50 per share, or a 23% premium to last night's close, with the offer consisting of $6.25 in cash and $4.25 worth of stock. Politzer keeps an Overweight rating on Eldorado Resorts with a $60 price target.
FCX Freeport McMoRan
$13.70

0.34 (2.54%)

02/13/19
02/13/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Piyush Sood saying his firm's Metals & Mining team expects copper market tightness to emerge beginning in Q2, given falling global production, low visible inventories and improved demand from China and Freeport's earnings sensitivity to copper is still the highest among its peers. 2. DocuSign (DOCU) upgraded to Buy from Hold at Deutsche Bank with analyst Karl Keirstead saying that after speaking with four large e-signature customers, three using DocuSign and one using Adobe Sign, the analyst believes a "more constructive call on DocuSign shares is now warranted." 3. Bloom Energy (BE) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying shares are down about 36% since the IPO in July 2018, including a 24% drop since mid-January, the latter due in large part to selling pressure following lockup expiration. 4. Shopify (SHOP) upgraded to Outperform from Sector Perform at RBC Capital with analyst Ross MacMillan saying he anticipates the company to return to new merchant growth this year given its international opportunity and easier comps. 5. Myovant Sciences (MYOV) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying his firm's women's health survey suggests a "robust potential market" for new treatment options for endometriosis and uterine fibroids. The analyst also raised his price target for the shares to $25 from $22. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/19/19
SBSH
02/19/19
UPGRADE
Target $16
SBSH
Buy
Freeport McMoRan upgraded to Buy from Neutral at Citi
Citi analyst Alexander Hacking upgraded Freeport McMoRan (FCX) to Buy with a $16 price target. The analyst cites his firm's more constructive cooper market backdrop for the upgrade. Citi's global commodity team is bullish on copper, noting that exchange inventory is at 10 year lows and Chinese weakness appears to be turning, Hacking tells investors in a research note. The analyst believes copper equities have "significant rebound potential" with the stocks down 30%-40% year-to-date. Hacking this morning also double upgraded Southern Copper (SCCO) to Buy from Sell.
02/19/19
02/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from Neutral at Macquarie with analyst Caroline Levy saying new CEO Ramon Laguarta "moved decisively" to reset for sustained 4%-6% sales growth by stepping up marketing and capital spending. 4. Freeport McMoRan (FCX) upgraded to Buy from Neutral at Citi while Southern Copper (SCCO) was double upgraded to Buy from Sell. 5. Cosan (CZZ) upgraded to Overweight from Neutral at JPMorgan with analyst Lucas Ferreira saying the shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading. 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
JEFF
03/25/19
NO CHANGE
Target $18
JEFF
Buy
Jefferies sees 'significant trapped value' in shares of Freeport McMoRan
Jefferies analyst Christopher LaFemina says that over a two-plus year horizon, he sees "significant trapped value" within Freeport McMoRan that could be unlocked via a break-up or an acquisition of the company. In the shorter term, though, the Freeport investment case depends on two factors - the copper price, which should go higher, and the company's transition to its underground at Grasberg, LaFemina tells investors in a research note. He believes a successful transition at Grasberg "is critical but will be challenging." The analyst estimates Freeport's fair value to be $16.98 per share on a sum-of-the-parts basis. He keeps a Buy rating on the shares with an $18 price target.
GS Goldman Sachs
$207.86

4.975 (2.45%)

02/21/19
02/21/19
INITIATION

Odeon's Dick Bove starts Goldman Sachs with Sell rating
Odeon analyst Dick Bove initiated coverage of Goldman Sachs with a Sell rating. Now is not the time to own the stock as indications are growing that Goldman's legal issues "are just beginning related to the events in Malaysia," Bove tells investors in a research note. The analyst adds that the Federal Reserve and U.S. Justice Department are also investigating these events and that fines are expected. Goldman Sachs in late morning trading is down $2.00 to $196.60.
03/26/19
WEDB
03/26/19
NO CHANGE
WEDB
Apple Card 'a slight negative' for Visa, says Wedbush
Wedbush analyst Moshe Katri believes Apple's announcement of a physical Apple card is a "slight negative" for Outperform rated Visa (V) and a "slight positive" for Outperform rated MasterCard (MA), assuming it gains traction. The physical Apple card is a partnership with Goldman Sachs (GS) and Mastercard.
03/01/19
SBSH
03/01/19
NO CHANGE
SBSH
Neutral
Goldman Sachs faces 'tough legal setup' in 1MDB case, says Citi
Goldman Sachs' alleged role in the ongoing 1MDB scandal has weighed on the stock since November, Citi analyst Keith Horowitz tells investors in a research note. After researching the case and speaking with a subject matter expert, the analyst thinks Goldman "faces a tough legal setup" in the 1MDB case. He expects the company to settle with regulators and estimates a range of penalties from $1.5B to $9.0B, with a base case of $4B-$5B. He sees suspended business activities as unlikely. Despite the 14% underperformance since November, Goldman shares are fairly valued given continued 1MDB overhang, Horowitz tells investors in a research note. He keeps a Neutral rating on the shares.
CNC Centene
$52.92

-2.19 (-3.97%)

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".
03/28/19
GSCO
03/28/19
NO CHANGE
GSCO
Federal judge blocking Medicaid work rule positive for MCOs, says Goldman Sachs
Goldman Sachs analyst Stephen Tanal noted that Politico reported that a federal judge ruled for the second time to block new work requirements as a condition for Medicaid eligibility in Kentucky and Arkansas, calling the ruling an incremental positive for Managed Care and Provider companies. MCOs whose primary business is Medicaid managed care are most exposed to this theme, said Tanal, who lists Molina (MOH), WellCare (WCG) and Centene (CNC) as three with a higher percentage of MMC lives in states that have submitted waivers requesting approval to impose work requirements. However, the analyst also noted that Kentucky's Governor has already issued an executive order indicating the state would appeal any decision by a court against work requirements and, if unsuccessful, would reverse its Medicaid Expansion program. WellCare, CVS' (CVS) Aetan, Humana (HUM) and Anthem (ANTM) all operate in Kentucky's Medicaid managed care program, the analyst noted.
03/29/19
03/29/19
DOWNGRADE

WellCare downgraded to Hold at Argus on Centene merger
Argus analyst David Toung downgraded WellCare (WCG) to Hold after it agreed to be acquired by Centene (CNC) in a $17.3B deal or at $305.39 per share. The analyst notes that because the deal would yield an entity that is smaller than the insurance industry giants, it may receive a more favorable treatment from the regulators than the failed Aetna (AET) -Humana (HUM) and Anthem (ANTM)-Cigna (CI) deals, but warns that some antitrust scrutiny is still possible due to overlaps between the companies in a few states. Toung adds that the new company would have "strengths in Medicare Advantage and Medicaid, both of which are growing markets."
04/05/19
COWN
04/05/19
NO CHANGE
COWN
Centene, Molina could be 'compelling' targets for Humana, says Cowen
Cowen analyst Charles Rhyee said he believes Centene's (CNC) planned takeover of WellCare (WCG) could potentially accelerate Humana's (HUM) timeline to acquire a scaled Medicaid asset, noting that it currently has the second smallest Medicaid book among managed care organizations. His analysis suggests Centene and Molina Healthcare (MOH) could both be "compelling acquisition targets" for Humana and believes the company has the financial capacity to make a bid for either, though Rhyee added that he does not believe Humana needs to rush a decision. Rhyee sees about a one year window in which Humana "can dictate the Medicaid M&A market" before Cigna (CI) and/or CVS Health (CVS) can get involved, he tells investors. While the analyst believes Centene makes the most sense as a potential target for Humana if the latter does not win the Texas STAR+PLUS contract, he suspects Centene is not willing to sell and believes Humana would have to offer a significant premium. If Humana does win the Texas STAR+PLUS contract it does not need to pursue large scale M&A, but a deal could be attractive anyway, Rhyee said.
FOXA Fox Corp.
$37.52

0.42 (1.13%)

04/10/19
BMOC
04/10/19
INITIATION
Target $37
BMOC
Market Perform
Fox Corp re-initiated with a Market Perform at BMO Capital
BMO Capital analyst Daniel Salmon re-initiated Fox Corp with a Market Perform rating and lowered his price target to $37 from $49 after the 21st Century Fox spin off, saying he likes the company's focus on sports and news with a revenue model "driven more by broadcast retransmission and affiliate fees." The analyst is also positive on the company's ramp up of direct-to-consumer programming with the launch of Fox Nation, but believes that valuation on the stock is full. Salmon adds that he is awaiting greater visibility into mid-term affiliate fee growth.
04/09/19
04/09/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. First Merchants (FRME) initiated with an Outperform at Raymond James. 2. Focus Financial Partners (FOCS) initiated with an Outperform at Oppenheimer. 3.FIS (FIS) initiated with an Outperform at Keefe Bruyette while Fiserv (FISV) was initiated with a Market Perform. 4. Fox Corp. (FOXA) initiated with a Neutral at Citi. 5. KLA-Tencor (KLAC) reinstated with a Sell at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/19
04/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Neutral at Nomura Instinet. 2. Community Healthcare (CHCT) initiated with an Outperform at Baird. 3. Community Bank System (CBU) initiated with an Equal Weight at Stephens. 4. Fox Corp re-initiated with a Market Perform at BMO Capital. 5. Wendy's (WEN) initiated with an Outperform at Cowen. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
SBSH
04/09/19
INITIATION
Target $40
SBSH
Neutral
Fox Corp. initiated with a Neutral at Citi
Citi analyst Jason Bazinet started Fox Corp. with a Neutral rating and $40 price target. The analyst thinks the company "did the right thing" by splitting into two but he prefers to wait for a better entry point. Consensus estimates for the new Fox may not fully reflect the new costs associated with its WWE rights while the NFL renewal in 2022 "could emerge as an overhang," Bazinet tells investors in a research note. Further, he believes Fox's advertising exposure is high "given the duration of the economic expansion."

TODAY'S FREE FLY STORIES

ILMN

Illumina

$318.91

4.47 (1.42%)

17:36
04/25/19
04/25
17:36
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17:36
Earnings
Illumina raises FY19 adj. EPS view to $6.63-$6.73 from $6.50-$6.60 »

Consensus $6.53. Backs…

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Hilltop Holdings

$19.90

-0.19 (-0.95%)

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Hilltop Holdings reports Q1 EPS 41c, consensus 26c »

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Ford

$9.41

-0.17 (-1.77%)

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Ford backs long-term revenue growth target view exceeding global GDP »

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ILMN

Illumina

$318.91

4.47 (1.42%)

17:32
04/25/19
04/25
17:32
04/25/19
17:32
Earnings
Illumina reports Q1 adj. EPS $1.60, consensus $1.34 »

Reports Q1 revenue $846M,…

03/08/13
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GIB

CGI Group

$71.16

0.36 (0.51%)

17:30
04/25/19
04/25
17:30
04/25/19
17:30
Downgrade
CGI Group rating change  »

CGI Group downgraded to…

03/08/13
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  • 01

    May

ARGO

Argo Group

$74.21

-0.245 (-0.33%)

17:30
04/25/19
04/25
17:30
04/25/19
17:30
Upgrade
Argo Group rating change at William Blair »

Argo Group upgraded to…

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  • 29

    Apr

  • 11

    Jun

SBUX

Starbucks

$77.07

0.65 (0.85%)

, NSRGY

Nestle

$0.00

(0.00%)

17:30
04/25/19
04/25
17:30
04/25/19
17:30
Hot Stocks
Starbucks sees FY19 adjusted effective tax rate 19%-21% »

Says Nestle alliance…

SBUX

Starbucks

$77.07

0.65 (0.85%)

NSRGY

Nestle

$0.00

(0.00%)

03/08/13
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  • 25

    Apr

  • 07

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GCI

Gannett

$9.26

-0.11 (-1.17%)

17:29
04/25/19
04/25
17:29
04/25/19
17:29
Hot Stocks
Gannett still urges holders to vote 'FOR ALL' of its director nominees »

Gannett issued a…

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  • 01

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PRA

ProAssurance

$36.08

0.08 (0.22%)

17:28
04/25/19
04/25
17:28
04/25/19
17:28
Hot Stocks
ProAssurance concerned over loss trends in healthcare professional liability »

"Our concern about…

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  • 03

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NCR

NCR Corp.

$28.62

-0.755 (-2.57%)

17:27
04/25/19
04/25
17:27
04/25/19
17:27
Syndicate
NCR Corp. files to sell 20.39M shares of common stock »

Also files to sell up to…

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  • 07

    May

PRA

ProAssurance

$36.08

0.08 (0.22%)

17:24
04/25/19
04/25
17:24
04/25/19
17:24
Earnings
ProAssurance reports Q1 EPS 8c, consensus 35c »

Reports Q1 revenue $269M,…

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  • 03

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MRK

Merck

$76.33

1.6 (2.14%)

17:22
04/25/19
04/25
17:22
04/25/19
17:22
Hot Stocks
Merck provides update on Phase 3 KEYNOTE-062 trial »

Merck announced topline…

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  • 30

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  • 06

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  • 18

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  • 03

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  • 17

    Jun

  • 20

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  • 16

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  • 06

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  • 20

    Sep

ACB

Aurora Cannabis

$9.07

-0.045 (-0.49%)

, CGC

Canopy Growth

$48.20

-0.13 (-0.27%)

17:22
04/25/19
04/25
17:22
04/25/19
17:22
Initiation
Aurora Cannabis, Canopy Growth, HEXO Corp, Constellation Brands, AB InBev, Altria Group, Walgreens Boots Alliance, CVS Health, Rite Aid initiated  »

Desjardins initiates HEXO…

ACB

Aurora Cannabis

$9.07

-0.045 (-0.49%)

CGC

Canopy Growth

$48.20

-0.13 (-0.27%)

HEXO

HEXO Corp

$7.14

0.01 (0.14%)

STZ

Constellation Brands

$212.19

2.12 (1.01%)

BUD

AB InBev

$86.63

-1.57 (-1.78%)

MO

Altria Group

$51.42

-3.28 (-6.00%)

WBA

Walgreens Boots Alliance

$52.67

-0.8 (-1.50%)

CVS

CVS Health

$53.24

0.31 (0.59%)

RAD

Rite Aid

$8.98

-0.64 (-6.65%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 25

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    Jun

DRQ

Dril-Quip

$43.59

-0.87 (-1.96%)

17:21
04/25/19
04/25
17:21
04/25/19
17:21
Earnings
Dril-Quip sees Q2 revenue at high end of $90M-$100M, consensus $95M »

Raises Q2 expectations…

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  • 14

    May

SBUX

Starbucks

$77.07

0.65 (0.85%)

17:20
04/25/19
04/25
17:20
04/25/19
17:20
Hot Stocks
Starbucks says on track to deliver on capital return commitment »

Says on track to deliver…

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  • 25

    Apr

DRQ

Dril-Quip

$43.59

-0.87 (-1.96%)

17:20
04/25/19
04/25
17:20
04/25/19
17:20
Earnings
Dril-Quip reports Q1 EPS (17c), consensus (6c) »

Reports Q1 revenue…

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  • 14

    May

SBUX

Starbucks

$77.07

0.65 (0.85%)

17:17
04/25/19
04/25
17:17
04/25/19
17:17
Hot Stocks
Starbucks says 'well-positioned' for long-term growth in China »

Sees 6,000 China stores…

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  • 25

    Apr

SBUX

Starbucks

$77.07

0.65 (0.85%)

17:13
04/25/19
04/25
17:13
04/25/19
17:13
Hot Stocks
Starbucks says will have Nitro Cold Brew in all U.S. stores by end of FY19 »

Says EMEA region nearly…

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  • 25

    Apr

LMT

Lockheed Martin

$328.97

-1.15 (-0.35%)

17:13
04/25/19
04/25
17:13
04/25/19
17:13
Hot Stocks
Lockheed Martin awarded $723.55M Army contract modification »

Lockheed Martinhas been…

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  • 25

    Apr

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    Apr

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MET

MetLife

$44.69

-0.22 (-0.49%)

, BLK

BlackRock

$474.56

-5.61 (-1.17%)

17:12
04/25/19
04/25
17:12
04/25/19
17:12
Hot Stocks
MetLife appoints Matthew Mosca as Global Head of Institutional Client Group »

MetLife Investment…

MET

MetLife

$44.69

-0.22 (-0.49%)

BLK

BlackRock

$474.56

-5.61 (-1.17%)

03/08/13
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03/06/13
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03/06/13
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  • 28

    Apr

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    Jun

  • 27

    Oct

HEXO

HEXO Corp

$7.14

0.01 (0.14%)

17:10
04/25/19
04/25
17:10
04/25/19
17:10
Initiation
HEXO Corp initiated  »

HEXO Corp initiated with…

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

Agnico Eagle

$40.67

0.09 (0.22%)

17:10
04/25/19
04/25
17:10
04/25/19
17:10
Hot Stocks
Agnico Eagle Q1 payable gold production of 398,217 oz versus 389,278 oz in 1Q18 »

In the first quarter of…

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  • 26

    Apr

CGC

Canopy Growth

$48.20

-0.13 (-0.27%)

17:10
04/25/19
04/25
17:10
04/25/19
17:10
Initiation
Canopy Growth initiated  »

Canopy Growth initiated…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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ACB

Aurora Cannabis

$9.07

-0.045 (-0.49%)

17:09
04/25/19
04/25
17:09
04/25/19
17:09
Initiation
Aurora Cannabis initiated  »

Aurora Cannabis initiated…

03/08/13
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INTC

Intel

$57.59

-1.13 (-1.92%)

17:08
04/25/19
04/25
17:08
04/25/19
17:08
Hot Stocks
Intel down 7.7% to $53.20 after lowering FY outlook »

The company's Q2…

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03/06/13
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