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JPM

JPMorgan

$111.17

4.87 (4.58%)

, FULT

Fulton Financial

$16.57

0.285 (1.75%)

07:57
04/15/19
04/15
07:57
04/15/19
07:57

Association of Certified Anti-Money Laundering Specialists to hold a conference

24th Annual International AML & Financial Crime Conference will be held in Hollywood, Fl on April 15-17 with webcasted presentations to begin on April 15 at 8:40 am. Webcast Link

JPM

JPMorgan

$111.17

4.87 (4.58%)

FULT

Fulton Financial

$16.57

0.285 (1.75%)

USB

U.S. Bancorp

$50.23

0.62 (1.25%)

COF

Capital One

$87.81

1.54 (1.79%)

ORCL

Oracle

$54.48

0.66 (1.23%)

G

Genpact

$35.94

0.12 (0.34%)

AXP

American Express

$110.88

1.01 (0.92%)

FISV

Fiserv

$86.29

0.71 (0.83%)

ETFC

E-Trade

$49.28

1 (2.07%)

TRI

Thomson Reuters

$59.67

0.65 (1.10%)

FITB

Fifth Third

$27.68

0.7 (2.59%)

C

Citi

$67.43

1.53 (2.32%)

GOOG

Alphabet

$1,218.30

13.29 (1.10%)

CVS

CVS Health

$52.81

0.09 (0.17%)

ALLY

Ally Financial

$29.52

0.535 (1.85%)

SCHW

Charles Schwab

$45.35

1.09 (2.46%)

DB

Deutsche Bank

$8.61

0.215 (2.56%)

PNC

PNC Financial

$131.77

4.02 (3.15%)

NCI

Navigant Consulting

$20.39

-0.01 (-0.05%)

WU

Western Union

$19.11

-0.06 (-0.31%)

BBT

BB&T

$49.25

0.78 (1.61%)

BCS

Barclays

$8.67

0.15 (1.76%)

RJF

Raymond James

$87.79

1.21 (1.40%)

CS

Credit Suisse

$12.84

0.4 (3.22%)

WFC

Wells Fargo

$46.49

-1.25 (-2.62%)

MTB

M&T Bank

$167.82

3.245 (1.97%)

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JPM JPMorgan
$111.17

4.87 (4.58%)

03/19/19
KEYB
03/19/19
DOWNGRADE
KEYB
Sector Weight
Worldpay downgraded to Sector Weight after Fiserv deal at KeyBanc
As previously reported, KeyBanc analyst Josh Beck downgraded Worldpay (WP) to Sector Weight from Overweight after the company and FIS (FIS) announced a deal, quickly adding another mega-deal in the wake of Fiserv (FISV)-First Data (FDC) and Global Payments (GPN)-Heartland Payment Systems. The analyst thinks this transaction is likely to expand the M&A discussion around Global Payments, TSYS (TSS), EVO Payments (EVOP), and i3 Verticals (IIIV) and sees paths to accretion should management teams further endorse a scale strategy. Future processing competition could increase among Global Payments, TSYS, First Data, and JPMorgan (JPM), but it remains too early to gauge, he contends.
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).
02/28/19
BMOC
02/28/19
NO CHANGE
Target $116
BMOC
Market Perform
JPMorgan price target lowered to $116 from $123 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on JPMorgan to $116 and kept his Market Perform rating, citing the company's Investor Day presentation that lowered expectations for net interest income as well as performance of its corporate & investment bank and wealth management segments. The analyst believes that other large-cap banks, fin-tech companies, and specialty lenders offer greater opportunity, even though his price target still implies a 13% return for JPMorgan stock.
03/06/19
03/06/19
NO CHANGE

JPMorgan files $130.14M mixed securities shelf
FULT Fulton Financial
$16.57

0.285 (1.75%)

01/17/19
PIPR
01/17/19
DOWNGRADE
Target $17.5
PIPR
Neutral
Fulton Financial downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Matthew Breese downgraded Fulton Financial to Neutral and lowered his price target for the shares to $17.50 from $19. Following the company's Q4 earnings miss, "driven largely by a sizable increase in the provision," the analyst reduced 2019 and 2020 estimates for Fulton by 4%-5%. Further, beyond credit and lower estimates, Breese thinks the Federal Reserve's change in stance towards interest rate hikes will also impact the performance of asset sensitive banks in 2019, including Fulton Financial. The analyst no longer has conviction that Fulton will outperform over the next twelve months.
07/19/18
PIPR
07/19/18
UPGRADE
Target $19
PIPR
Overweight
Fulton Financial upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Matthew Breese upgraded Fulton Financial to Overweight and raised his price target for the shares to $19 from $18.50. The stock "looks attractive" following the company's "strong" Q2 results, which included better than anticipated net interest margin expansion and credit results, Breese tells investors in a research note. The analyst believes Fulton's balance sheet is "well-suited for the current environment."
10/03/18
LEHM
10/03/18
UPGRADE
Target $19
LEHM
Overweight
Barclays upgrades Fulton Financial, Webster Financial to Overweight
Barclays analyst Matthew Keating double upgraded Fulton Financial (FULT) to Overweight from Underweight and raised his price target for the shares to $19 from $18. The company is poised to exceed consensus earnings expectations in the second half of 2018 on greater than expected net interest margin expansion, controlled expenses, and a resumption of share repurchase activity, Keating tells investors in a research note. The analyst also upgraded Webster Financial (WBS) to Overweight from Equal Weight while lowering his price target for the shares to $69 from $70. He expects deposit growth at HSA Bank, the company's health savings account administration business, to "positively surprise." Webster investors not only gain exposure to a strengthening domestic economy, but also the defensive characteristics of the healthcare space, Keating contends.
10/03/18
LEHM
10/03/18
UPGRADE
Target $19
LEHM
Overweight
Fulton Financial upgraded to Overweight from Underweight at Barclays
Barclays analyst Matthew Keating double upgraded Fulton Financial to Overweight from Underweight and raised his price target for the shares to $19 from $18.
USB U.S. Bancorp
$50.23

0.62 (1.25%)

02/08/19
02/08/19
NO CHANGE

Odeon's Bove says buy SunTrust, Midwest banks after deal announcement
Odeon analyst Dick Bove recommends investors buy shares of SunTrust (STI) following the company's announcement of an agreement to merge with BB&T (BBT), stating that the deal is expected to be accretive by 2021, but likely to be dilutive before this time. He also thinks investors should consider buying a group of Midwestern banks, as the deal puts "significant pressure" on those banks to merge. Banks such as Fifth Third (FITB) and KeyCorp (KEY) "need to join forces," while PNC (PNC) and U.S. Bancorp (USB) "need to buy more scale," Bove stated in his research note.
01/28/19
01/28/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Autohome (ATHM) downgraded to Underweight from Neutral at JPMorgan with analyst Binbin Ding saying he expects the company to see weakened pricing power amid a "challenging" market environment. 2. Vale (VALE) downgraded to Hold from Buy at HSBC and Jefferies, to Neutral from Outperform at Macquarie, and to Market Perform from Outperform at BMO Capital. 3. Amgen (AMGN) downgraded to In Line from Outperform at Evercore ISI with analyst Umer Raffat citing increased biosimilar competition and an imminent court decision on Enbrel patents with Sandoz. 4. Dynagas LNG (DLNG) downgraded to Neutral from Buy at B. Riley FBR with analyst Liam Burke saying the company "significantly" reduced its cash distribution in order to strengthen its balance sheet. 5. SunTrust (STI) and U.S. Bancorp (USB) were downgraded to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/28/19
BARD
01/28/19
DOWNGRADE
Target $55
BARD
U.S. Bancorp downgraded to Neutral following recent rally at Baird
As reported previously, Baird analyst David George downgraded U.S. Bancorp to Neutral from Outperform. The analyst cited its recent rally and outperformance of the banking index relative to the market. He said the risk/reward is now more balanced and noted that the stock trades at a slight premium to peers. George maintained his $55 price target on U.S. Bancorp shares.
COF Capital One
$87.81

1.54 (1.79%)

02/26/19
02/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Exact Sciences (EXAS) upgraded to Buy from Neutral at Goldman Sachs by analyst Patrick Donnelly, who said the current momentum of the Cologuard commercial ramp provides "strong basis" for the company's premium valuation while the combination of positive Cologuard catalysts and new product roll-outs provide upside to current levels, even after the stock's 75% rally since the beginning of 2018. Exact Sciences is a "must-own growth stock" given the "clean runway forward that is largely in its control with potential for discovery value in the pipeline outside of Cologuard," the analyst said. 2. Siemens (SIEGY) upgraded to Overweight from Neutral at JPMorgan by analyst Andreas Willi, who sees a relative valuation opportunity after the stock's 27% underperformance over the past two years. He believes investor sentiment can improve "after a period where the story has drifted." 3. Kadmon (KDMN) upgraded to Buy from Neutral at Citi by analyst Robyn Karnauskas, who assigned a 50% probability to KD-025 in chronic graft versus host disease with an unadjusted ~$900M market opportunity. However, upside to the stock will depend on quality of the data likely, Karnauskas said. 4. EverQuote (EVER) upgraded to Buy following Q4 beat at BofA/Merrill by analyst Mat Schindler, who said user growth has re-accelerated, supporting evidence of a turnaround, and thinks estimates are conservative and views the risk/reward as attractive. 5. Ally Financial (ALLY) upgraded to Buy from Hold at Sandler O'Neill by analyst Christopher Donat, who said he believes Ally's near-prime auto finance book is "meaningfully less risky" than Santander Consumer's (SC) book or the unsecured credit cards of Discover (DFS) and Capital One (COF), yet all four stocks trade at similar multiples. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/05/19
NOMU
02/05/19
NO CHANGE
Target $35
NOMU
Buy
Nomura tells investors to 'rethink their cautiousness' on Synchrony
Nomura Instinet analyst Bill Carcache raised his price target for Synchrony Financial (SYF) to $35 from $33 and reiterates a Buy rating on the shares. Although the short case on Synchrony "died last quarter" as renewals quelled fears around additional partnership losses and the announced sale of the Walmart (WMT) portfolio eradicated skepticism over whether Capital One (COF) would be a buyer, many investors are reluctant to get more bullish amid a perceived lack of incremental demand for Synchrony late cycle, Carcache tells investors in a research note titled ""Time to Get in Front of SYF as It Prepares to Take Down ~20% of Its Float; Raising TP to $35." While understanding the concerns, the analyst says it is "time for those on the sidelines to rethink their cautiousness." With over $4B to spend and a "laser focus" on mitigating the loss of Walmart, the analyst views Synchrony as a "deep pocketed incremental buyer that intends to reduce its float by ~20%."
02/11/19
KEYB
02/11/19
NO CHANGE
Target $216
KEYB
Overweight
Workday price target raised to $216 from $179 at KeyBanc
KeyBanc analyst Brent Bracelin raised his price target for Workday (WDAY) to $216 from $179 on improving cloud growth prospects. The analyst notes that analysis of Key First Look Data: Jobs has exposed an unannounced F50 HCM win at UPS (UPS) that began hiring for the global HR transformation team in January. The data also exposed unannounced F100 HCM wins at Comcast (CMCSA; CMCSK), CapitalOne (COF), and Centene (CNC), although job dates suggest these deals may have closed in the October quarter. The January data also exposed a new cloud financials win at Adecco (AHEXY), Bracelin adds. The analyst reiterates an Overweight rating on Workday's shares.
02/26/19
SDLR
02/26/19
UPGRADE
Target $33
SDLR
Buy
Sandler O'Neill upgrades Ally Financial to Buy, says valuation premium warranted
As previously reported, Sandler O'Neill analyst Christopher Donat upgraded Ally Financial (ALLY) to Buy from Hold, stating that he believe Ally's (ALLY) near-prime auto finance book is "meaningfully less risky" than Santander Consumer's (SC) book or the unsecured credit cards of Discover (DFS) and Capital One (COF), yet all four stocks trade at similar multiples. He thinks Ally deserves a slight premium to these specialty finance peers and raised his price target on Ally shares to $33 from $29 while maintaining his 2019 and 2020 EPS estimates.
ORCL Oracle
$54.48

0.66 (1.23%)

03/15/19
03/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Oracle (ORCL) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he believes Oracle can sustain ~2% constant currency revenue growth, but is "dubious" the company can improve its revenue growth rates. 2. Zillow (ZG, Z) downgraded to Underweight from Equal Weight at Barclays with analyst Deepak Mathivanan citing his expectations for a "material erosion" in unit economics in its Homes division, the operational challenges facing the company in buying, fixing up, and selling homes at scale and the fact that he thinks the company's efforts to slowly transition its core PA business closer to transaction will keep revenue growth muted in the near-term. 3. State Street (STT) downgraded to Hold from Buy at Deutsche Bank with analyst Brian Bedell saying he no longer sees any near- or intermediate-term positive catalysts for the stock given the likely continued revenue growth pressures this year. 4. Live Nation (LYV) downgraded to Neutral from Buy at Citi with analyst Jason Bazinet saying he continues to like Live Nation's business model and long-term growth prospects, but he views the valuation as "full" at current share levels. 5. Adobe (ADBE) downgraded to Sector Weight from Overweight at KeyBanc with analyst Brent Bracelin citing the company's fiscal Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/20/19
DZBN
03/20/19
DOWNGRADE
DZBN
Sell
Oracle downgraded yesterday to Sell from Buy at DZ Bank
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.
03/29/19
EXAN
03/29/19
INITIATION
Target $50
EXAN
Neutral
Oracle initiated with a Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Stefen Slowinski initiated coverage on Oracle with a Neutral and $50 price target.
G Genpact
$35.94

0.12 (0.34%)

03/08/19
WELS
03/08/19
UPGRADE
WELS
Outperform
Genpact upgraded to Outperform from Market Perform at Wells Fargo
02/06/19
BOFA
02/06/19
UPGRADE
Target $36
BOFA
Buy
Genpact upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst Kunal Tayal upgraded Genpact two notches to Buy from Underperform with a $36 price target citing shares gains and industry growth. Tayal said the investments in Genpact's digital transformation are beginning to payoff, which will aid market share and deal activity in the high growth broader process management segment. The analyst now expects Genpact's revenue growth through 2018-20 to increase to 12% from 7% the previous 3 years.
03/08/19
WELS
03/08/19
UPGRADE
Target $39
WELS
Outperform
Genpact upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Edward Caso upgraded Genpact to Outperform from Market Perform and raised his price target to $39 from $34 following meetings with CEO Ed Fitzpatrick and IR Roger Sachs. In a research note to investors, Caso cites an attractive Business Process Outsourcing market backdrop, "appealing" valuation and higher confidence in Genpact's ability to execute at least low double digit EPS growth over the medium-term, driven by 10% revenue growth, 10-20 basis points of adjusted operating margin expansion and value-enhancing capital deployment for the upgrade.
01/15/19
01/15/19
UPGRADE

Overweight
Morgan Stanley upgrades Genpact two notches, lowers India Tech sector view
As previously reported, Morgan Stanley analyst Gaurav Rateria upgraded Genpact (G) two notches, to Overweight from Underweight. Rateria and fellow analyst Parag Gupta also downgraded the firm's India Technology industry view to In-Line from Attractive. A few IT vendors have cautioned on Europe and the analysts note that Accenture (ACN) said during its recent earnings call that growth in IT budgets could slow. Consensus data already reflect strong revenue growth for FY20, said Gupta and Rateria, who advise defensiveness and selectivity in IT services stocks. Gupta upgraded Infosys (INFY) to Overweight and raised his price target to INR775 from INR759, stating that he sees a favorable risk-reward for the stock, while Rateria raised his rating on Genpact following the stock's significant underperformance in 2018. He increased his price target on Genpact shares to $33 from $28.50.
AXP American Express
$110.88

1.01 (0.92%)

03/20/19
DZBN
03/20/19
DOWNGRADE
DZBN
Hold
American Express downgraded to Hold from Buy at DZ Bank
04/03/19
STFL
04/03/19
NO CHANGE
Target $85
STFL
Buy
Delta Air Lines price target raised to $85 from $80 at Stifel
Stifel analyst Joseph DeNardi raised his Q1 and 2019 EPS estimates for Delta (DAL) to reflect the company's revised Q1 guidance and increased his price target on the stock to $85 accordingly. Based on the company's comments on its new card deal with American Express (AXP), DeNardi believes Delta's economics from the pact improved by about 10% versus their prior agreement. He maintains a Buy rating on Delta shares.
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).
04/01/19
COWN
04/01/19
NO CHANGE
COWN
FTC officials seem to spotlight Facebook, Amazon for scrutiny, says Cowen
After FTC Chairman Joe Simons and Competition Bureau Director Bruce Hoffman spoke at the American Bar Association's annual antitrust conference on Friday, Cowen analyst Paul Gallant said his read of some of Simons' comments on "consummated mergers" is that they seem directed toward Facebook (FB) deals like Instagram and Whatsapp and/or Google's (GOOGL) past ad tech acquisitions. Hoffman "also seemed to lean forward on tech," said Gallant, who sees some of Hoffman's comments on a prior ruling about American Express (AXP) as making Amazon (AMZN) more of an antitrust target than he expected. The analyst also noted that Sarah Oxenham-Allen, Chair of the State Attorney Generals Task Force on Antitrust, spoke at the event and he sees her comments as underscoring that state AGs are a "legitimate threat" on antitrust and privacy for Facebook and Google.
FISV Fiserv
$86.29

0.71 (0.83%)

04/03/19
SPHN
04/03/19
NO CHANGE
SPHN
Fiserv named a Best Idea at Stephens
Stephens analyst Brett Huff named Fiserv (FISV) as his Best Idea, replacing Global Payments (GPN), stating that he thinks 40% accretion from Fiserv's deal for First Data (FDC) is "very doable" even with his conservative assumptions. While telling investors that he still "really likes" Global Payments, Huff said he thinks Fiserv is "more mispriced." After updating his estimates for his accretion model, the analyst raised his price target on Fiserv shares to $110 from $95 and keeps an Overweight rating on the shares.
03/22/19
WEDB
03/22/19
NO CHANGE
Target $140
WEDB
Outperform
FIS added to Best Ideas List at Wedbush based on Worldpay-related revenue
Wedbush analyst Moshe Katri added Outperform-rated FIS (FIS) to the Best Ideas List following its offer to buy Worldpay (WP) and raised his price target to $140 from $110. In a research note to investors, Katri says he believes the transaction, which strategically responds to Fiserv's (FISV) pending acquisition of First Data (FDC), expands FIS' capabilities by enhancing its acquiring and payments offerings while increasing Worldpay's distribution footprint, and accelerating its entry into new geographies.
04/08/19
KBWI
04/08/19
INITIATION
Target $101
KBWI
Market Perform
Fiserv initiated with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Vasundhara Govil started Fiserv with a Market Perform rating and $101 price target.
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.
ETFC E-Trade
$49.28

1 (2.07%)

02/20/19
02/20/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CVS Health (CVS) downgraded to Market Perform from Outperform at Wells Fargo with analyst Peter Costa citing its "continued failure" to stabilize its existing businesses, particularly the long-term care business, after two years of pressure. 2. Southwest (LUV) downgraded to Sell from Neutral at Goldman Sachs with analyst Catherine O'Brien saying Southwest's fiscal 2019 pretax margin will decline 60 basis points due to the dilutive impact of its new Hawaii flying and unit cost ex-fuel pressures. 3. Charles Schwab (SCHW) downgraded to Sell from Neutral at UBS, while E-Trade (ETFC) was downgraded to Neutral from Buy. 4. Palo Alto Networks (PANW) downgraded to Hold from Buy at Gabelli with analyst Hendi Susanto citing valuation. 5. Teva (TEVA) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying her investment thesis is "broken" after Teva's "disappointing 2019 guidance and cautious longer-term outlook." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/29/19
MSCO
01/29/19
NO CHANGE
MSCO
Overweight
Morgan Stanley sees 'more to come' from discount brokers after strong Q4
Morgan Stanley analyst Michael Cyprys said the "strong" Q4 earnings reports from Charles Schwab (SCHW), E-Trade (ETFC) and TD Ameritrade (AMTD) showed that the discount brokers can grow revenues in a volatile, late-cycle backdrop. He increased his 2020 top-line estimates across the group, citing expectations for higher net interest margins and higher cash balances. Cyprys, who said the valuations in the group remain compelling on both an absolute and relative basis, keeps Overweight ratings on all three stocks mentioned. He raised his price target on Charles Schwab to $57 from $55, on E-Trade to $62 from $61 and on TD Ameritrade to $64 from $59.
02/20/19
UBSW
02/20/19
DOWNGRADE
Target $51
UBSW
Neutral
E-Trade downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded E-Trade Financial to Neutral and lowered his price target for the shares to $51 from $58. The analyst wonders what catalysts could move the shares "materially higher" amid "mounting cyclical concerns." He cites the "extended time frame tied to current targets" and a low likelihood of a strategic transaction as the reasons for the downgrade. He sees "more compelling places to allocate capital."
01/25/19
LEHM
01/25/19
NO CHANGE
Target $55
LEHM
Overweight
E-Trade price target raised to $55 from $52 at Barclays
Barclays analyst Jeremy Campbell raised his price target for E-Trade Financial to $55 following the company's Q4 results and keeps an Overweight rating on the shares.
TRI Thomson Reuters
$59.67

0.65 (1.10%)

03/25/19
NATB
03/25/19
DOWNGRADE
NATB
Sector Perform
Thomson Reuters downgraded to Sector Perform from Outperform at National Bank
01/25/19
SCOT
01/25/19
DOWNGRADE
SCOT
Sector Perform
Thomson Reuters downgraded to Sector Perform from Outperform at Scotiabank
01/25/19
01/25/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Hold from Buy at Needham and to Neutral from Positive at Susquehanna. 2. Hawaiian Holdings (HA) downgraded to Hold from Buy at Deutsche Bank with analyst Michael Linenberg saying he sees a more challenging competitive backdrop in Hawaiian's core markets by the June quarter. 3. Illumina (ILMN) downgraded to Hold from Buy at Deutsche Bank with analyst Dan Leonard saying forward revenue expectations lack upside potential while the "pace of newsflow to motivate further enthusiasm" for the company's total addressable market opportunity could slow. 4. Dish (DISH) downgraded to Reduce from Hold at HSBC with analyst Sunil Rajgopal saying he expects more fragmentation in the content/pay-TV business as more players enter the OTT content market and he expects the pay TV base to shrink further. 5. Thomson Reuters (TRI) downgraded to Sector Perform from Outperform at Scotiabank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/27/19
BMOC
02/27/19
NO CHANGE
Target $78
BMOC
Outperform
Thomson Reuters price target raised to $78 from $73 at BMO Capital
BMO Capital analyst Tim Casey raised his price target on Thomson Reuters to $78 and kept his Outperform rating after its Q4 results and FY19 organic revenue growth guidance, saying the management presented a "confident tone" and a "compelling case" to achieve its forecasts. As Thomson Reuters' organic growth accelerates, the analyst believes that investor sentiment will turn more positively and the valuation discount on the stock will narrow.
FITB Fifth Third
$27.68

0.7 (2.59%)

03/22/19
SDLR
03/22/19
UPGRADE
SDLR
Buy
Fifth Third upgraded to Buy from Hold at Sandler O'Neill
04/01/19
JEFF
04/01/19
NO CHANGE
JEFF
Jefferies upgrades Fifth Third, Wintrust to Buy, downgrades First Horizon
Jefferies analyst Ken Usdin upgraded both Fifth Third (FITB) and Wintrust Financial (WTFC) to Buy from Hold while downgrading First Horizon National (FHN) to Hold from Buy. Banks head into Q1 earnings season with a "complicated, but more attractive, set-up," Usdin tells investors in a research note. He believes negative earnings revisions based on the flatter curve will be "offset somewhat" by strong credit metrics. The analyst upgraded Fifth Third and raised his price target for the shares to $30 from $29 on earnings upside potential post the MB Financial deal close. Usdin upgraded Wintrust while lowering his price target for the shares to $77 from $78. He sees an attractive entry point following the recent underperformance. Usdin downgraded First Horizon and lowered his price target for the shares to $14 from $16.50 as he sees "meaningful" earnings revision risk.
04/04/19
KBWI
04/04/19
UPGRADE
Target $32
KBWI
Outperform
Fifth Third upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Klock upgraded Fifth Third Bancorp to Outperform from Market Perform with an unchanged price target of $32.
04/01/19
JEFF
04/01/19
UPGRADE
JEFF
Buy
Fifth Third upgraded to Buy from Hold at Jefferies
C Citi
$67.43

1.53 (2.32%)

02/22/19
JEFF
02/22/19
UPGRADE
Target $73
JEFF
Buy
Jefferies sees positive risk/reward on Citi, upgrades shares to Buy
Jefferies analyst Ken Usdin upgraded Citi to Buy from Hold and raised his price target for the shares to $73 from $64. The analyst believes Citi's 2019 will show better revenue growth, stable costs and credit trends, as well as $20B-plus of capital returns. He believes the stock's risk/reward is "skewed to the positive," especially if Citi starts showing tangible progress toward its 13.5% ROTCE goal for 2020. Further, the Mexico and Latin America "story adds to Citi growth/return profile," Usdin tells investors in a research note.
03/27/19
ODEN
03/27/19
INITIATION
ODEN
Hold
Citi initiated with a Hold at Odeon Capital
Odeon Capital analyst Dick Bove initiated Citi with a Hold rating.
03/27/19
ODEN
03/27/19
INITIATION
ODEN
Hold
Odeon's Bove starts Citi at Hold, says 'aggressive' buybacks 'not encouraging'
Odeon Capital analyst Dick Bove initiated Citi with a Hold rating, stating that its buyback program "has been one of the most aggressive in the country," which he sees as "not encouraging" during a period of weakening in the global economy. He awaits evidence that the bank can consistently grow its book value per share, Bove tells investors.
GOOG Alphabet
$1,218.30

13.29 (1.10%)

04/08/19
PIPR
04/08/19
NO CHANGE
Target $201
PIPR
Overweight
Piper's 8,000 teen survey shows Apple brand dominance 'well intact'
Of the 8,000 teens surveyed by Piper Jaffray, 83% have Apple's (AAPL) iPhone, the highest percentage seen in the semi-annual survey, analyst Michael Olson, tells investors in a research note. The iPhone may have room to move higher, however, with 86% of teens anticipating their next phone to be an iPhone, tied for the highest ever surveyed, Olson writes. He notes that Alphabet's (GOOG, GOOGL) Android was the runner up with 9%, down from 10% in the fall survey. Further, the Apple Watch was the top smartwatch among teens, garnering 20% share, with the Samsung Gear next on the list at 2%, the analyst points out. Olson views the survey data as a sign that Apple's place as the dominant device brand among teens "remains well intact." He reiterates an Overweight rating on Apple shares with a $201 price target.
04/11/19
COWN
04/11/19
NO CHANGE
Target $1420
COWN
Outperform
Alphabet price target raised to $1,420 from $1,390 at Cowen
Cowen analyst John Blackledge maintained an Outperform rating on Alphabet and lifted his price target to $1,420 from $1,390 ahead of the company's Q1 results on April 29. In a research note to investors, Blackledge says he estimates a slight reported topline growth deceleration for Q1 vs. last year and further core Google operating margin compression. He sees shares likely rising off the print with a small revenue beat and margin upside from faster TAC cost deceleration and possibly lower than expected R&D costs.
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.
04/08/19
MSCO
04/08/19
NO CHANGE
MSCO
Overweight
Apple healthcare opportunity being underappreciated, says Morgan Stanley
Morgan Stanley analyst Katy Huberty, in collaboration with the firm's healthcare and tech teams, said she sees Apple "creating the building blocks of another ecosystem like the App Store" but in healthcare, armed with the Apple Watch and the iPhone. While she believes investors are aware of Apple's healthcare efforts, Huberty thinks they "may be missing the big picture and underappreciating the magnitude of the opportunity" she stated in her healthcare deep dive report. Huberty noted that the firm's recent survey of 30 meeting participants, three-quarters of them C-level executives from leading healthcare and technology companies, showed that they see Amazon (AMZN), Google (GOOGL) and Apple as the technology companies that will have the largest impact on healthcare over the next five years, but in that ranking she thinks they are believe they are underestimating Apple. Huberty, who sees healthcare as a $15B-$313B revenue opportunity for Apple by 2027, keeps an Overweight rating on the iPhone maker's shares.
CVS CVS Health
$52.81

0.09 (0.17%)

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."
04/15/19
04/15/19
DOWNGRADE

Perform
CVS Health downgraded to Perform at Oppenheimer
As previously reported, Oppenheimer analyst Michael Wiederhorn downgraded CVS Health to Perform from Outperform saying that he is looking to reset the bar on his rating, as he views it as more of a long-term opportunity given the potential timeline to execute on its strategy and the near-term legacy business challenges. Furthermore, the analyst expects the drug-price noise out of Washington to continue for the foreseeable future. Lastly, Wiederhorn notes that he remains bullish on the overall managed care sector, but CVS's exposure to the business is still quite modest, and he would prefer other names in the space right now.
04/15/19
OPCO
04/15/19
DOWNGRADE
OPCO
Perform
CVS Health downgraded to Perform from Outperform at Oppenheimer
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.
ALLY Ally Financial
$29.52

0.535 (1.85%)

04/02/19
MSCO
04/02/19
NO CHANGE
Target $30
MSCO
Equal Weight
Ally buyback approval significantly higher than estimated, says Morgan Stanley
Morgan Stanley analyst Betsy Graseck noted that Fed CCAR instructions released on February 5 exempted banks with assets between $100B-$250B from the 2019 stress test, which meant that Ally Financial did not need to wait for Fed approval in June to announced that its board authorized the repurchase of up to $1.25B in common stock for 3Q19-2Q20. This $1.25B authorization is significantly higher than her $560M estimate, said Graseck, who raised her 2020 EPS estimate for Ally by 14c, or 3.5%, in response to the news. Graseck keeps an Equal Weight rating on Ally shares.
04/02/19
SBSH
04/02/19
NO CHANGE
SBSH
Buy
Ally Financial buyback plan above forecast, says Citi
Citi analyst Arren Cyganovich says Ally Financial's new repurchase plan of up to $1.25B is above his forecast of $900M. The analyst is "somewhat surprised" by the 25% increase in the authorization with the implementation of the current expected credit loss model beginning on January 1, 2020, but he sees it as a sign of confidence that the company "can withstand the initial phased-in capital hit to book value." Cyganovich has a Buy rating on Ally Financial.
SCHW Charles Schwab
$45.35

1.09 (2.46%)

01/22/19
MSCO
01/22/19
NO CHANGE
Target $57
MSCO
Overweight
Charles Schwab target raised to $57 ahead of winter update at Morgan Stanley
Morgan Stanley analyst Michael Cyprys said he has increased conviction in Charles Schwab (SCHW) shares after the company saw stronger organic deposit growth and broadly strong underlying growth metrics in Q4. He expects Charles Schwab to provide2019 guidance at the company's upcoming Winter Update on February 5 that should meet consensus expectations, but he also expects Schwab to beat those expectations over the course of 2019, as they havve done in prior years. He also expects Charles Schwab to give "more rational" pricing commentary this late in the cycle, which should support the stock and peers TD Ameritrade (AMTD) and E-Trade (ETFC), Cyprys tells investors. He raised his price target on Charles Schwab shares to $57 from $55 ahead of the update call and keeps an Overweight rating on the stock.
02/20/19
UBSW
02/20/19
DOWNGRADE
Target $42
UBSW
Sell
Charles Schwab downgraded to Sell from Neutral at UBS
UBS analyst Brennan Hawken downgraded Charles Schwab to Sell and lowered his price target for the shares to $42 from $48. The analyst sees revenue headwinds at the same time as risk to upward pressure on expenses. This will lead to earnings and multiple compression, Hawken tells investors in a research note. The analyst believes Schwab's revenue guidance, which assumes a mid-year rate hike and higher daily average revenue trades, is aggressive against the current backdrop. Expectations may be too high and could put the stock at risk, particularly since buybacks are likely not enough to "cushion the blow to the growth story," Hawken contends.
DB Deutsche Bank
$8.61

0.215 (2.56%)

08/13/18
BOFA
08/13/18
DOWNGRADE
Target $9
BOFA
Underperform
Deutsche Bank downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Andrew Stimpson downgraded Deutsche Bank to Underperform from Neutral saying he expects the earnings downgrade cycle to continue given CIB revenue headwinds.
08/10/18
08/10/18
DOWNGRADE

Underweight
Morgan Stanley cuts Deutsche Bank to Underweight on limited top-line visibility
As previously reported, Morgan Stanley analyst Magdalena Stoklosa downgraded Deutsche Bank to Underweight from Equal Weight, stating that while she gives management "full credit" for its cost cutting efforts, it is hard to have any visibility on the top line. She assumes 2018-20 revenue CAGR of just 1.5%, which is below the average for Eurozone banks and below managements target of 4%. While recognizing the risk of downgrading Deutsche Bank "at the bottom," Stoklosa sees current conditions as unlikely to be conducive to a near-term re-rating, she tells investors. She has an EUR9 target on the bank's shares.
06/01/18
RBCM
06/01/18
DOWNGRADE
RBCM
Underperform
Deutsche Bank downgraded to Underperform from Sector Perform at RBC Capital
08/10/18
MSCO
08/10/18
DOWNGRADE
MSCO
Underweight
Deutsche Bank downgraded to Underweight from Equal Weight at Morgan Stanley
PNC PNC Financial
$131.77

4.02 (3.15%)

03/06/19
MACQ
03/06/19
UPGRADE
MACQ
Outperform
PNC Financial upgraded to Outperform from Neutral at Macquarie
Macquarie analyst David Konrad upgraded PNC Financial to Outperform from Neutral and raised his price target to $144 from $134 given recent multiple compression, high BlackRock estimates and potential regulatory change for capital deductions. Konrad said PNC's strong fee income growth remains a key differentiator and expects operating leverage benefits as the company lags peers in terms of their efficiency ratio.
03/06/19
03/06/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Kohl's (KSS) upgraded to Neutral from Underweight at Atlantic Equities. 2. Volaris (VLRS) double upgraded to Buy from Sell at Goldman Sachs. 3. Mylan (MYL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying he believes the stock "can finally outperform" for the remainder of 2019 following a substantial reset that has the shares trading near the bottom end of their historical range of the past five years and at a historical discount to peers. 4. PNC Financial (PNC) upgraded to Outperform from Neutral at Macquarie with analyst David Konrad citing recent multiple compression, high BlackRock estimates and potential regulatory change for capital deductions. 5. Ambarella (AMBA) upgraded to Buy from Hold at Craig-Hallum with analyst Richard Shannon saying he sees sales inflection coming in the second half, and as multiple indicators suggest growth in auto and security, supported by computer vision-enabled products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/25/19
DBAB
01/25/19
DOWNGRADE
Target $53
DBAB
Hold
Deutsche gets more selective on banks, downgrades BB&T and PNC
Deutsche Bank analyst Matt O'Connor downgraded both BB&T (BBT) and PNC Financial (PNC) to Hold from Buy. The analyst lowered his price target for BB&T to $53 from $58 and for PNC to $135 from $161. Bank stocks have rallied 20% off the December 24 lows, outperforming the S&P 500 Index by 800 basis points, O'Connor tells investors in a research note. The analyst still sees upside to banks overall, but has become more selective.
NCI Navigant Consulting
$20.39

-0.01 (-0.05%)

08/23/18
BRRR
08/23/18
NO CHANGE
Target $30
BRRR
Outperform
Navigant Consulting price target raised to $30 from $26 at Barrington
Barrington analyst Kevin Steinke raised his price target for Navigant Consulting to $30 saying the company's continuing operations outlook implies a "strong" ramp in profitability. The analyst believes Navigant deserves to trade at a higher multiple going forward and keeps an Outperform rating on the shares.
05/07/18
BRRR
05/07/18
UPGRADE
Target $26
BRRR
Outperform
Navigant Consulting upgraded to Outperform from Market Perform at Barrington
Barrington analyst Kevin Steinke upgraded Navigant Consulting to Outperform with a $26 price target. The analyst views the Q1 results as "solid" and sees the company's business improving throughout 2018. He believes Navigant's risk/reward is favorable at current share levels.
08/02/18
WBLR
08/02/18
DOWNGRADE
WBLR
Market Perform
Navigant Consulting downgraded to Market Perform at William Blair
William Blair analyst Timothy McHugh downgraded Navigant Consulting to Market Perform from Outperform following this morning's Q2 results. The analyst sees uncertainty regarding 2019.
06/26/18
BRRR
06/26/18
NO CHANGE
Target $26
BRRR
Outperform
Barrington views Navigant Consulting agreement to sell DFLT segment as positive
Barrington analyst Kevin Steinke notes that Navigant Consulting announced an agreement to sell its Disputes, Forensics and Legal Technology segment and its transaction advisory services practice within the Financial Services Advisory & Compliance segment to Ankura Consulting Group for $470M. The analyst views this as an attractive valuation from Navigant's perspective. Exiting the event-driven DFLT business gives management greater bandwidth to focus on the company's strategic and operational consulting services and managed services offerings, he contended. Steinke reiterates an Outperform rating and $26 price target on Navigant's shares.
WU Western Union
$19.11

-0.06 (-0.31%)

03/08/19
SPHN
03/08/19
UPGRADE
Target $38
SPHN
Overweight
ACI Worldwide upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Brett Huff upgraded ACI Worldwide (ACIW) to Overweight and raised his price target for the shares to $38 from $30. The analyst views the company's acquisition of Western Union's (WU) Speedpay as a "great deal." Shares of ACI only moved 3% despite its guided double-digit accretion, Huff tells investors in a research note. He believes the deal should lead to higher estimates and sees a low likelihood of another offer coming in for Speedpay.
12/07/18
12/07/18
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. Zendesk (ZEN) initiated with an Outperform at Wedbush. 2. Skyworks (SWKS) and Qorvo (QRVO) were initiated with a Neutral at Susquehanna. 3. Western Union (WU) initiated with a Market Perform at Keefe Bruyette. 4. Becton Dickinson (BDX) initiated with a Buy at Deutsche Bank. 5. Keurig Dr Pepper (KDP) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/18
LEHM
11/14/18
INITIATION
LEHM
Overweight
Barclays initiates coverage of U.S. payment processors with PayPal as top pick
As noted earlier, Barclays analyst Ramsey El-Assal initiated a group of 20 U.S. companies in the Payments, Processing, and related IT Services sector with Overweight-rated PayPal (PYPL) as his Top Pick. The analyst cites the company's "100% exposure to high-growth digital channels" along with its "clean balance sheet substantial cash position" that bring it a "strategic opportunity. El-Assal is also particularly positive on Overweight-rated WorldPay (WP) based on its strong growth potential from its exposure to "tech-enabled channels" and merger synergies, FirstData (FDC) based on the accelerating growth of its merchant channels, and Square (SQ)," whose Subscription & Services segment is blurring the lines between Payments and software". The analyst contends that the extent of being "tech-enabled" is a key differentiator in the Payments industry, assigning an Overweight rating to Alliance Data Systems (ADS), ADP (ADP), Cardtronics (CATM), Fidelity National (FIS), First Data (FDC), Fiserv (FISV), Fleetcor Technologies (FLT), Global Payments (GPN), Green Dot (GDOT), Mastercard (MA), Total System Services (TSS), Visa (V), and WEX Inc (WEX). El-Assal assigns Equal-weight ratings to EVO Payments (EVOP) and Paychex (PAYX), stating that while the companies are "solid performers" in the space, their valuation is seen as more balanced. The analyst rates MoneyGram (MGI) and Western Union (WU) at Underweight, saying that the former will struggle to re-ignite positive growth as the costs associated with regulatory scrutiny weigh on its profits and the latter will be challenged by "periodic pricing pressure eroding margins over a long period of time."
12/06/18
KBWI
12/06/18
INITIATION
KBWI
Market Perform
Western Union initiated with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Sanjay Sakhrani started Western Union with a Market Perform rating.
BBT BB&T
$49.25

0.78 (1.61%)

03/26/19
03/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bed Bath & Beyond (BBBY) upgraded to Strong Buy from Market Perform at Raymond James , to Hold from Sell at Loop Capital, and to Sector Weight from Underweight at KeyBanc. 2. BB&T (BBT) upgraded to Buy from Hold at Deutsche Bank with analyst Matt O'Connor saying after meeting with CEO of SunTrust (STI), he remains positive on the merger and the combined stock. 3. Vertex (VRTX) upgraded to Outperform from Market Perform at William Blair with analyst Y. Katherine Xu citing expectations that the company's cystic fibrosis franchise will continue dominating after Proteostasis (PTI) reported disappointing triplet data. 4. Allegiant Travel (ALGT) upgraded to Outperform from Neutral at Macquarie with analyst Susan Donofrio citing her meetings with its management last week. 5. TransAlta (TAC) upgraded to Buy from Hold at TD Securities with analyst John Mould saying Brookfield Renewable Partners (BEP) $750M investment in TransAlta improves the company's financial flexibility, accelerates its ability to return capital to shareholders and advance the coal-to-gas conversion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/04/19
04/04/19
UPGRADE
Target $44

Strong Buy
Synovus upgraded to Strong Buy at Raymond James
As previously reported, Raymond James analyst David Lon upgraded Synovus (SNV) to Strong Buy from Outperform, with a $44 price target. The analyst cited the recent pullback in the stock and what he sees as an outsized opportunity for market share gain stemming from the recently announced BB&T (BBT)-SunTrust (STI) mega merger.
04/04/19
RAJA
04/04/19
DOWNGRADE
RAJA
Market Perform
BB&T downgraded to Market Perform from Outperform at Raymond James
04/04/19
RAJA
04/04/19
DOWNGRADE
RAJA
Market Perform
BB&T downgraded to Market Perform on near-term noise at Raymond James
As previously reported, Raymond James analyst David Lon downgraded BB&T (BBT) to Market Perform from Outperform and reducing his EPS estimates. The analyst cited the nearer-term noise surrounding its merger with SunTrust (STI) and his view that BB&T shares are unlikely to outperform until there is greater clarity on when the deal will actually close and its ability to retain key talent with the combined company's footprint. Moreover, larger acquirer stock prices generally haven't reacted favorably over the past few years, he contends.
BCS Barclays
$8.67

0.15 (1.76%)

04/16/18
JEFF
04/16/18
UPGRADE
JEFF
Buy
Barclays upgraded to Buy from Hold at Jefferies
Jefferies analyst Joseph Dickerson upgraded Barclays to Buy and raised his price target for the shares to 265p from 205p. Activist Ed Bramson could help unlock significant value in the company's investment bank,Dickerson tells investors in a research note.
11/09/18
FBCO
11/09/18
DOWNGRADE
FBCO
Neutral
Barclays downgraded to Neutral from Outperform at Credit Suisse
10/01/18
BREN
10/01/18
UPGRADE
BREN
Buy
Barclays upgraded to Buy from Hold at Berenberg
Berenberg analyst Peter Richardson upgraded Barclays to Buy and raised his price target for the shares to 220p from 200p. The analyst views expectations of a 5.5% return on tangible equity as too low and says Barclays has the strongest franchise of any non-U.S. bank. He believes the stock's 20% discount to European peers is unwarranted.
06/19/18
BOFA
06/19/18
DOWNGRADE
BOFA
Neutral
Barclays downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Andrew Stimpson downgraded Barclays to Neutral from Buy citing share outperformance and lack of significant revenue growth in 2018.
RJF Raymond James
$87.79

1.21 (1.40%)

03/06/19
ARGS
03/06/19
INITIATION
Target $92
ARGS
Buy
Raymond James initiated with a Buy at Argus
Argus initiated Raymond James with a Buy rating and a price target of $92 after its "solid" Q1 results showing 12% revenue growth and 111% earnings growth, "driven by strength in Private Client Group, Asset Management, and Raymond James Bank" divisions. The analyst expects the company to further increase the number of advisers on its platform and make strategically sound acquisitions while also pointing to its 11.7-times forward earnings multiple, which is below the low end of its historical 12- to 14-times earnings multiple range.
03/06/19
03/06/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Voyager Therapeutics (VYGR) initiated with an Overweight at Cantor Fitzgerald. 2. L.B. Foster (FSTR) initiated with a Buy at B. Riley FBR. 3. Raymond James (RJF) initiated with a Buy at Argus. 4. Chegg (CHGG) initiated with a Buy at Berenberg. 5. Pinduoduo (PDD) 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.
01/14/19
FBCO
01/14/19
NO CHANGE
Target $93
FBCO
Neutral
Raymond James price target lowered to $93 from $100 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler lowered his price target for Raymond James to $93 from $100 ahead of quarterly results. The analyst reiterates a Neutral rating on the shares.
03/11/19
COMP
03/11/19
INITIATION
Target $96
COMP
Buy
Raymond James initiated with a Buy at Compass Point
Compass Point initiated Raymond James with a Buy and $96 price target.
CS Credit Suisse
$12.84

0.4 (3.22%)

02/20/19
02/20/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pfizer (PFE) resumed with a Neutral from Sell at Citi with analyst Andrew Baum saying the recent pullback in the stock, along with the 5%-8% 2019-2021 consensus estimate reductions, gives him the opportunity to close his Sell rating. 2. Transocean (RIG) and Diamond Offshore (DO) were upgraded to Overweight from Underweight at Barclays. 3. American Axle (AXL) upgraded to Buy from Neutral at BofA/Merrill with analyst John Murphy citing progress with restructuring, GM's (GM) truck cycle, and balance sheet deleveraging. 4. Credit Suisse (CS) upgraded to Hold from Sell at Berenberg. 5. Ipsen (IPSEY) upgraded to Neutral from Sell at Goldman Sachs with analyst Diana Na 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.
03/13/19
03/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Roku (ROKU) downgraded to Sell from Hold at Loop Capital and to Neutral from Outperform at Macquarie. 2. Hercules Capital (HTGC) downgraded to Market Perform from Outperform at Keefe Bruyette and to Neutral from Buy at Compass Point as well as B. Riley FBR. 3. Credit Suisse (CS) downgraded to Neutral from Overweight at JPMorgan with analyst Kian Abouhossein saying the company's investment banking strategy is "value destroying." 4. Comerica (CMA) downgraded to Neutral from Outperform at Wedbush with analyst Peter Winter saying he believes earnings growth will be more challenging in 2020 given less earnings levers, the benefit from lower expenses is behind, and share buyback activity is set to slow in 2020. 5. NuStar Energy (NS) downgraded to Underweight from Neutral at JPMorgan analyst Jeremy Tonet saying he sees lower return potential following the stock's "significant outperformance" year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
JPMS
03/13/19
DOWNGRADE
JPMS
Neutral
Credit Suisse downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Kian Abouhossein downgraded Credit Suisse to Neutral from Overweight and lowered his price target for the shares to 14 francs from 16 francs. The company's investment banking strategy is "value destroying," Abouhossein tells investors in a research note. Further, he believes Credit Suisse's cost cuts are fully discounted in the current valuation.
03/12/19
KBWI
03/12/19
DOWNGRADE
KBWI
Underperform
Credit Suisse downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Tom Hallett downgraded Credit Suisse to Underperform from Market Perform and lowered his price target for the shares to 11 francs from 13.50 francs.
WFC Wells Fargo
$46.49

-1.25 (-2.62%)

04/15/19
BOFA
04/15/19
DOWNGRADE
BOFA
Neutral
Wells Fargo downgraded to Neutral from Buy at BofA/Merrill
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
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
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.
MTB M&T Bank
$167.82

3.245 (1.97%)

02/21/19
BARD
02/21/19
DOWNGRADE
Target $175
BARD
Neutral
Baird downgrades M&T Bank to Neutral, says risk/reward less compelling
As reported previously, Baird analyst David George downgraded M&T Bank to Neutral from Outperform. The analyst said the risk/reward is less compelling following the stock's recent rally. He also believes the bank's opportunity for efficiency improvement is more limited versus peers and loan growth likely remains muted. George maintained his $175 price target on M&T Bank shares.
01/09/19
UBSW
01/09/19
UPGRADE
Target $157
UBSW
Neutral
M&T Bank upgraded to Neutral from Sell at UBS
UBS analyst Saul Martinez upgraded M&T Bank to Neural while lowering his price target for the shares to $157 from $171. The stock's "ample" valuation de-rating has brought a balanced risk/reward profile, Martinez tells investors in a research note.
01/08/19
UBSW
01/08/19
UPGRADE
UBSW
Neutral
M&T Bank upgraded to Neutral from Sell at UBS
02/21/19
BARD
02/21/19
DOWNGRADE
BARD
Neutral
M&T Bank downgraded to Neutral from Outperform at Baird

TODAY'S FREE FLY STORIES

ILMN

Illumina

$318.91

4.47 (1.42%)

17:36
04/25/19
04/25
17:36
04/25/19
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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HTH

Hilltop Holdings

$19.90

-0.19 (-0.95%)

17:35
04/25/19
04/25
17:35
04/25/19
17:35
Earnings
Hilltop Holdings reports Q1 EPS 41c, consensus 26c »

Hilltop's annualized…

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F

Ford

$9.41

-0.17 (-1.77%)

17:35
04/25/19
04/25
17:35
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17:35
Hot Stocks
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,…

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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…

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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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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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03/06/13
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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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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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03/08/13
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03/06/13
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    May

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…

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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  • 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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Wedge Partners
03/08/13
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03/06/13
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03/06/13
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    May

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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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%)

, 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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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…

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

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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%)

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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
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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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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…

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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…

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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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03/06/13
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