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CGC

Canopy Growth

$41.13

0.415 (1.02%)

, STZ

Constellation Brands

$190.40

-0.56 (-0.29%)

09:54
04/16/19
04/16
09:54
04/16/19
09:54

Canopy CEO says sales will be over C$1B in 12 months from April

Canopy Growth CEO Bruce Linton said at a GMP conference in Toronto that his company will generate over C$1B in sales in the 12 months from this April to April 2020, according to Bloomberg. Shares of Canopy Growth are up 5%, or $1.98, to $42.71 in early trading. Constellation Brands (STZ), which owns a stake in Canopy, is down $1.16 to $189.79.

CGC

Canopy Growth

$41.13

0.415 (1.02%)

STZ

Constellation Brands

$190.40

-0.56 (-0.29%)

CGC Canopy Growth
$41.13

0.415 (1.02%)

04/04/19
JEFF
04/04/19
NO CHANGE
Target $255
JEFF
Buy
Jefferies views Constellation sale of wine brands favorably
Earnings dilution from a sale of wine brands, along with Canopy Growth (CGC) investment dilution in fiscal 2020 has been an overhang for Constellation Brands (STZ) in recent months, Jefferies analyst Kevin Grundy tells investors in a research note. The analyst says that despite negative earnings implications, he views Constellation's sale of value wine brands to E. & J. Gallo for $1.7B favorably as the "consideration appears reasonable for a declining wine business." Further, and importantly, the sale shifts focus to the company's higher "growth/margin/return" portfolio of assets, namely beer, contends Grundy. Constellation remains the analyst's top pick with a Buy rating and $255 price target.
04/05/19
MSCO
04/05/19
NO CHANGE
Target $230
MSCO
Overweight
Constellation Brands' FY20 guidance looks conservative, says Morgan Stanley
Morgan Stanley analyst Dara Mohsenian said he was surprised by the magnitude of the "relief rally" in Constellation Brands (STZ) shares following the company's Q4 report given that the company reported greater than expected near-term EPS dilution from its low-end wine sale, realized a lower than expected multiple on the wine transaction and unexpectedly did not provide forward guidance for Canopy Growth (CGC) equity losses. With that said, he sees "two clear positives" emerging from the quarter: the fact that fundamentals in the beer business remain solid and the fact that he sees solid visibility that Constellation can hit the high end of if $8.50-$8.80 FY20 EPS guidance, leaving aside Canopy equity losses. The analyst lowered his FY20 and FY21 EPS estimates to reflect dilution from the wine asset sale and trimmed his price target to $230 from $233, but he keeps an Overweight rating on Constellation shares.
04/08/19
COWN
04/08/19
NO CHANGE
COWN
Cowen moderates near-term expectations for cannabis group on supply constraints
After hosting investor meetings with the management of Tilray (TLRY), Cowen analyst Vivien Azer said that Canada clearly remains supply constrained and that Tilray, with its asset-light approach, is overexposed to this supply tightness. Independent of commentary from the meetings with Tilray, Azer lowered her revenue estimates throughout her Canadian cannabis coverage as her current read suggests that Q1 growth will likely be modest. Despite her moderation of her near-term expectations, Azer keeps Outperform ratings on Aurora Cannabis (ACB), Canopy Growth (CGC) and Tilray (TLRY) and maintains a Market Perform rating on Cronos (CRON).
04/12/19
PIPR
04/12/19
NO CHANGE
Target $60
PIPR
Overweight
Canopy Growth Q4 revenue estimate lowered at Piper Jaffray
Piper Jaffray analyst Michael Lavery trimmed his Q4 revenue estimates for Canopy Growth to reflect a more conservative build, based on early quarter Health Canada data. Based on April channel checks, product supply to retailers has recently improved, and stores are now maintaining some product inventory, Lavery tells investors in a research note However, Health Canada January industry data show industry momentum ramping up a bit more slowly than expected, adds the analyst. As such, Lavery lowered his Q4 revenue estimate for Canopy Growth to C$96.8M from C$117.6M. Capacity, scale and execution will continue to matter for the next 12-24 months, as growing supply catches up with strong demand in both Europe and Canada, says the analyst. He considers Canopy well positioned relative to its peers on these measures. Lavery keeps an Overweight rating on Canopy Growth shares with a $60 price target.
STZ Constellation Brands
$190.40

-0.56 (-0.29%)

04/05/19
BMOC
04/05/19
NO CHANGE
Target $225
BMOC
Outperform
Constellation Brands wine/spirit divestment reshapes portfolio, says BMO Capital
BMO Capital analyst Amit Sharma kept his Outperform rating and $225 price target on Constellation Brands after the company announced a divestment of lower priced wine and spirits brands, saying the move "re-shapes" its portfolio and positions it on a "clear path" to double-digit core earnings growth. The analyst adds that Constellation Brands's FY20 outlook is likely conservative and believes it can generate "continued multiple recovery" from current levels, with added benefits coming from its "free call option" on Canopy.
04/05/19
04/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Aaron Rakers saying the shares, after rallying 19% year-to-date, reflect a more balanced risk/reward. 2. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees headwinds in 2019 as competition intensifies and the company is "unlikely to repeat its innovation success again this year." 3. Ford (F) downgraded to Reduce from Neutral at Nomura Instinet with analyst Anindya Das saying Ford's higher share of the U.K. auto market compared to the rest of Europe makes it more susceptible to Brexit risks. 4. Constellation Brands (STZ) downgraded to Hold from Buy at Deutsche Bank. 5. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying while International Paper is a "great company," investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/19
BOFA
04/05/19
NO CHANGE
Target $216
BOFA
Buy
Constellation Brands price target raised to $216 from $188 at BofA/Merrill
BofA Merrill Lynch analyst Bryan Spillane raised his price target on Constellation Brands shares to $216 after the company reported better than expected Q4 earnings, stating that he believes a premium valuation is warranted by the company's higher than average EPS growth and margin improvement prospects. Spillane keeps a Buy rating on Constellation shares.

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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LPL

LG Display

$8.35

-1.14 (-12.02%)

12:10
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OXY

Occidental Petroleum

$60.91

-1.44 (-2.31%)

, APC

Anadarko

$71.89

7.77 (12.12%)

12:09
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OXY

Occidental Petroleum

$60.91

-1.44 (-2.31%)

APC

Anadarko

$71.89

7.77 (12.12%)

CVX

Chevron

$118.80

-3.2 (-2.62%)

BA

Boeing

$378.71

4.67 (1.25%)

T

AT&T

$30.75

-1.36 (-4.24%)

CAT

Caterpillar

$138.18

-3.9 (-2.74%)

CBS

CBS

$51.44

0.09 (0.18%)

VIA

Viacom

$36.81

0.53 (1.46%)

VIAB

Viacom

$29.88

0.61 (2.08%)

SAP

SAP

$127.96

13.12 (11.42%)

SLAB

Silicon Labs

$105.83

12.195 (13.02%)

EBAY

eBay

$38.25

1.59 (4.34%)

RES

RPC, Inc.

$11.10

-1.8 (-13.95%)

IRBT

iRobot

$103.20

-27.22 (-20.87%)

SNAP

Snap

$11.36

-0.63 (-5.25%)

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TDOC

Teladoc

$54.67

0.32 (0.59%)

, HUM

Humana

$249.01

0.71 (0.29%)

12:09
04/24/19
04/24
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Recommendations
Teladoc, Humana analyst commentary at Baird »

Humana virtual primary…

TDOC

Teladoc

$54.67

0.32 (0.59%)

HUM

Humana

$249.01

0.71 (0.29%)

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MPC

Marathon Petroleum

$60.06

-0.94 (-1.54%)

12:05
04/24/19
04/24
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12:05
Options
Marathon Petroleum call volume above normal and directionally bullish »

Bullish option flow…

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UMC

UMC

$1.94

0.015 (0.78%)

12:04
04/24/19
04/24
12:04
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12:04
Upgrade
UMC rating change  »

UMC upgraded to Neutral…

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LRN

K12

$31.56

-4.665 (-12.88%)

12:01
04/24/19
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12:01
Hot Stocks
K12 falls -12.4% »

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SPN

Superior Energy

$4.28

-0.685 (-13.80%)

12:01
04/24/19
04/24
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Hot Stocks
Superior Energy falls -13.9% »

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  • 24

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RES

RPC, Inc.

$11.04

-1.86 (-14.42%)

12:01
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Hot Stocks
RPC, Inc. falls -14.2% »

RPC, Inc. is down -14.2%,…

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SAP

SAP

$128.22

13.38 (11.65%)

12:01
04/24/19
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Hot Stocks
SAP rises 11.7% »

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APC

Anadarko

$71.92

7.8 (12.16%)

12:00
04/24/19
04/24
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12:00
Hot Stocks
Anadarko rises 12.4% »

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  • 14

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TRK

Speedway Motorsports

$18.50

4.52 (32.33%)

12:00
04/24/19
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Hot Stocks
Speedway Motorsports rises 32.8% »

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General news
Treasury Action: Fed funds futures are rallying alongside the surge in Treasuries »

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HMST

HomeStreet

$28.08

(0.00%)

11:50
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HomeStreet 'disappointed' over Blue Lion's director nominations, proposals »

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PYPL

PayPal

$107.92

1.01 (0.94%)

, FB

Facebook

$183.84

0.07 (0.04%)

11:50
04/24/19
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11:50
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11:50
Earnings
Fly Intel: What to watch in PayPal earnings report »

PayPal (PYPL) is…

PYPL

PayPal

$107.92

1.01 (0.94%)

FB

Facebook

$183.84

0.07 (0.04%)

EBAY

eBay

$38.45

1.79 (4.88%)

JPM

JPMorgan

$113.45

-0.29 (-0.25%)

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AMRN

Amarin

$18.32

-0.07 (-0.38%)

11:45
04/24/19
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Options
Amarin call volume above normal and directionally bullish »

Bullish option flow…

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11:45
04/24/19
04/24
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General news
Treasury's $20 B FRN auction was awarded at a high discount margin of 0.139% »

Treasury's $20 B FRN…

LRN

K12

$31.11

-5.115 (-14.12%)

11:40
04/24/19
04/24
11:40
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11:40
Recommendations
K12 analyst commentary at Barrington »

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TSLA

Tesla

$262.87

-0.98 (-0.37%)

, SSNLF

Samsung

$0.00

(0.00%)

11:40
04/24/19
04/24
11:40
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Earnings
Fly Intel: What to watch in Tesla earnings report »

Tesla (TSLA) is scheduled…

TSLA

Tesla

$262.87

-0.98 (-0.37%)

SSNLF

Samsung

$0.00

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CAT

Caterpillar

$138.82

-3.26 (-2.29%)

11:37
04/24/19
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11:37
Hot Stocks
Breaking Hot Stocks news story on Caterpillar »

Caterpillar: Trade…

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GWW

Grainger

$292.75

-0.46 (-0.16%)

11:37
04/24/19
04/24
11:37
04/24/19
11:37
Hot Stocks
Grainger authorizes repurchase of additional 5M shares »

W.W. Grainger announced…

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  • 24

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BKU

BankUnited

$35.97

0.24 (0.67%)

11:36
04/24/19
04/24
11:36
04/24/19
11:36
Downgrade
BankUnited rating change at Sandler ONeill »

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GWW

Grainger

$292.73

-0.48 (-0.16%)

11:36
04/24/19
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11:36
Hot Stocks
Grainger raises dividend by 6% to $1.44 per share »

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  • 24

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BBY

Best Buy

$75.08

1.48 (2.01%)

, PG

Procter & Gamble

$104.47

1.28 (1.24%)

11:36
04/24/19
04/24
11:36
04/24/19
11:36
On The Fly
Best Buy, P&G, Snap upgrades among today's top analyst calls »

Check out today's top…

BBY

Best Buy

$75.08

1.48 (2.01%)

PG

Procter & Gamble

$104.47

1.28 (1.24%)

SNAP

Snap

$11.20

-0.79 (-6.59%)

KHC

Kraft Heinz

$32.73

-0.365 (-1.10%)

AAPL

Apple

$208.23

0.73 (0.35%)

03/08/13
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