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QCOM

Qualcomm

$80.58

6.33 (8.53%)

, DPZ

Domino's Pizza

$264.27

9.38 (3.68%)

10:11
04/17/19
04/17
10:11
04/17/19
10:11

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded to Overweight from Neutral at JPMorgan and to Outperform from In Line at Evercore ISI. 2. Domino's Pizza (DPZ) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst John Glass saying he thinks the stock's current price reflects 2-3% blended global same store sales growth over the next two years, which he views as too bearish based on its track record as a "best in class operator." 3. TSYS (TSS) upgraded to Buy from Neutral at Goldman Sachs with analyst James Schneider saying the company's new portfolios are driving revenue growth while improving margin expansion is driving earnings acceleration. 4. Omnicom (OMC) upgraded to Equal Weight from Underweight at Barclays. 5. Jones Lang LaSalle (JLL) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Jade Rahmani saying she sees an attractive entry point following the recent underperformance of the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

QCOM

Qualcomm

$80.58

6.33 (8.53%)

DPZ

Domino's Pizza

$264.27

9.38 (3.68%)

TSS

TSYS

$100.32

1.515 (1.53%)

OMC

Omnicom

$82.93

1.63 (2.00%)

JLL

Jones Lang LaSalle

$153.87

1.84 (1.21%)

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QCOM Qualcomm
$80.58

6.33 (8.53%)

04/17/19
WELS
04/17/19
NO CHANGE
WELS
Market Perform
Intel exiting 5G smartphone modem business 'a positive,' says Wells Fargo
Wells Fargo analyst Aaron Rakers says that following the Apple (AAPL)-Qualcomm (QCOM) settlement announcement, Intel (INTC) announced its intention to exit the 5G smartphone modem business. The analyst views this as a positive for Intel. Rakers reiterates a Market Perform rating on Intel's shares.
04/17/19
KEYB
04/17/19
NO CHANGE
KEYB
Sector Weight
Intel 5G modem challenges a key factor leading to Apple settlement, says KeyBanc
KeyBanc analyst John Vinh notes that Qualcomm (QCOM) and Apple (AAPL) announced an agreement to dismiss all legal proceedings between the two companies worldwide, and says he believes challenges at Intel (INTC) on its 5G modem were a key factor leading to the settlement. The analyst also thinks this settlement likely will lead to a Huawei settlement, which could add another 80c in EPS for Qualcomm. While Vinh views the settlement as encouraging and as removing a major overhang for Qualcomm, he remains Sector Weight as he believes the economic benefit from the Apple settlement is largely reflected in the stock.
04/17/19
RSBL
04/17/19
NO CHANGE
Target $84
RSBL
Buy
Qualcomm price target raised to $84 from $70 after Apple pact at Rosenblatt
Rosenblatt analyst Jun Zhang raised his price target on Qualcomm (QCOM) to $84 from $70 following the company's settlement with Apple (AAPL), stating that he expects Apple to switch to Qualcomm modems in the second half of calendar 2019. He is "conservatively" modeling Qualcomm having 60% modem share at Apple in the second half of this year and believes Apple will use 100% Qualcomm 5G modems by the second half of 2020, Zhang tells investors. He estimates Apple will contribute $4B of total revenue to Qualcomm in 2020, including 40M 4G modem shipments and 100M 5G modem shipments. Zhang keeps a Buy rating on Qualcomm shares, which are up 14% to $80.55 in pre-market trading.
04/17/19
04/17/19
UPGRADE
Target $90

Outperform
Qualcomm upgraded to Outperform following Apple settlement at Evercore ISI
As previously reported, Evercore ISI upgraded Qualcomm (QCOM) to Outperform from In Line and raised its price target to $90 from $60 following the settlement with Apple (AAPL). Analyst C.J. Muse expects Qualcomm's earnings power to move "considerably higher" with incremental earnings of $2 from Apple and sees normalized earnings of $6.50-$7 into FY21 when including Huawei payments and buybacks. Muse said shares are "finally invertible again" now that the litigation is over combined with a clear path for the 5G ramp.
DPZ Domino's Pizza
$264.27

9.38 (3.68%)

04/16/19
WELS
04/16/19
NO CHANGE
Target $240
WELS
Market Perform
Domino's Pizza price target lowered to $240 from $250 at Wells Fargo
Wells Fargo analyst Jon Tower lowered his price target for Domino's Pizza to $240 from $250 ahead of quarterly results. The analyst sees risks to Q1 and 2019 EPS, which may keep multiple expansion at bay in the near-term. Further, Tower believes investor concerns around incremental competition in delivery and value will grow louder if global same-store sales come in shy of already muted expectations. He reiterates a Market Perform rating on the shares.
04/15/19
BARD
04/15/19
NO CHANGE
Target $310
BARD
Outperform
Domino's Pizza looks attractive amid comp concern, says Baird
Baird analyst David Tarantino maintained an Outperform rating on Domino's Pizza and $310 price target ahead of the company's April 24 earnings report. Although comps may have slowed in Q1 as U.S./international segments lapped more difficult comparisons than in Q4, Tarantino tells investors in a research note that he believes investor sentiment about this potential outcome has become overly cautious, creating opportunity for a better-than-feared scenario to lead to a bounce in the shares. Looking ahead, Tarantino remains optimistic Domino's can deliver 2019 comps within its long-term target of 3%-6%, and feels this dynamic will help to strengthen investor confidence in longer-term growth fundamentals and support higher valuation metrics on the shares.
04/17/19
MSCO
04/17/19
UPGRADE
MSCO
Overweight
Domino's Pizza upgraded to Overweight from Equal Weight at Morgan Stanley
04/17/19
MSCO
04/17/19
UPGRADE
Target $283
MSCO
Overweight
Morgan Stanley says Domino's Pizza growth undervalued, upgrades to Overweight
As previously reported, Morgan Stanley analyst John Glass upgraded Domino's Pizza (DPZ) to Overweight from Equal Weight, stating that he thinks the stock's current price reflects 2-3% blended global same store sales growth over the next two years, which he views as too bearish based on its track record as a "best in class operator." Based on third party data on Domino's Q1 app downloads, Glass sees evidence that the market's concerns over decelerating U.S. comps may be overdone, he added. Following recent weakness, Domino's shares now trade at parity with Yum! Brands (YUM), which Glass calls "a high quality but slower growing peer" and not much of a premium to Dunkin' Brands (DNKN), which he calls "a far slower growing business." He raised his price target on Domino's shares to $283 from $268.
TSS TSYS
$100.32

1.515 (1.53%)

01/31/19
NOMU
01/31/19
NO CHANGE
Target $120
NOMU
Buy
TSYS price target raised to $120 from $109 at Nomura Instinet
TSYS reported "very strong" Q4 but management's communication regarding merchant acquiring organic growth was deficient, Nomura Instinet analyst Dan Dolev tells investors in a post-earnings research note. Not quantifying ASC 606 or the impact of acquisitions led to confusion as it unnecessarily implied lower organic growth, says the analyst. He keeps a Buy rating on TSYS.
04/17/19
GSCO
04/17/19
UPGRADE
Target $115
GSCO
Buy
TSYS upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst James Schneider upgraded TSYS to Buy from Neutral and raised his price target for the shares to $115 from $98. The company's new portfolios are driving revenue growth while improving margin expansion is driving earnings acceleration, Schneider tells investors in a research note. As a result, the analyst expects TSYS' valuation discount relative to peers to narrow.
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.
03/19/19
SBSH
03/19/19
NO CHANGE
SBSH
Global Payments and TSYS rise on Citi's preferred Payments list
Citi analyst Ashwin Shirvaikar made changes to his stock rankings in the Payments, Processors & IT Services space following FIS' (FIS) acquisition of Worldpay (WP). Global Payments (GPN) and TSYS (TSS) rise towards the top of the analyst's list. Both are "solid" stand-alone ideas but investors should also discuss whether M&A makes sense for either or both names, Shirvaikar tells investors in a research note. The other change made by the analyst was to swap in Square (SQ) to his highest tranche, or "Elite Eight," instead of FleetCor (FLT).
OMC Omnicom
$82.93

1.63 (2.00%)

04/17/19
BMOC
04/17/19
NO CHANGE
Target $88
BMOC
Outperform
Omnicom price target raised to $88 from $85 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Omnicom to $88 and kept his Outperform rating after its management signaled that 2019 margins would improve by 20-30 bps over 2018, which followed the 60bps expansion in Q1. The analyst contends that the company had likely taken an "overly conservative initial view", noting that the margin change likely reflects an "elongated year-end process" thanks to "divestitures, management changes, and new account wins late in 2018."
04/17/19
LEHM
04/17/19
UPGRADE
Target $84
LEHM
Equal Weight
Omnicom upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Julien Roch upgraded Omnicom to Equal Weight from Underweight and raised his price target for the shares to $84 from $76.
07/23/18
ARGS
07/23/18
DOWNGRADE
ARGS
Hold
Omnicom downgraded to Hold at Argus on disappointing Q2
As reported earlier, Argus analyst Deborah Ciervo downgraded Omnicom to Hold From Buy following Q2 results that showed disappointing revenue and weak advertising trends. The analyst believes that the weakness in the retail sector is weighing on the company's North America business, even as performance has improved in Europe, U.K., and Asia. Ciervo added that she expects continued slow organic growth in the near term, even as her outlook for the longer term remains bullish "based on its leading industry position and our high regard for management, which has a history of topping Street expectations and achieving high returns on invested capital".
09/28/18
LEHM
09/28/18
DOWNGRADE
Target $75
LEHM
Underweight
Omnicom downgraded to Underweight from Equal Weight at Barclays
JLL Jones Lang LaSalle
$153.87

1.84 (1.21%)

01/03/19
BOFA
01/03/19
DOWNGRADE
BOFA
Underperform
Jones Lang LaSalle double downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded Jones Lang LaSalle two notches to Underperform from Buy and lowered its price target to $43 from $47. Analyst David Ridley-Lane said Jones has above-peer risk to failing property prices and declining transaction volumes and sees headwinds in 2019 as incentive fees and equity earnings returns move to more normal levels.
01/03/19
BOFA
01/03/19
DOWNGRADE
BOFA
Underperform
Jones Lang LaSalle downgraded to Underperform from Buy at BofA/Merrill
08/27/18
MSCO
08/27/18
INITIATION
Target $21
MSCO
Overweight
Cushman & Wakefield initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Vikram Malhotra started Cushman & Wakefield (CWK) with an Overweight rating and $21 price target, stating that he believes the company's size and global scale positions it well to compete with peers Jones Lang LaSalle (JLL) and CBRE Group (CBRE). Cushman is well positioned to gain share and has several levers to drive margin growth, Malhotra tells investors in his initiation note.
04/16/19
KBWI
04/16/19
UPGRADE
Target $179
KBWI
Outperform
Jones Lang LaSalle upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Jade Rahmani upgraded Jones Lang LaSalle to Outperform from Market Perform with an unchanged price target of $179. The analyst sees an attractive entry point following the recent underperformance of the shares.

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Tesla

$258.70

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