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S

Sprint

$5.69

0.115 (2.06%)

, TMUS

T-Mobile

$72.36

1.36 (1.92%)

12:34
04/17/19
04/17
12:34
04/17/19
12:34

Sprint, T-Mobile headlines positive for Dish, Intelsat, says Goldman Sachs

Goldman Sachs analyst Brett Feldman, while taking no view on the outcome of the proposed merger between Sprint (S) and T-Mobile (TMUS), laid out his thoughts for other industry participants following the Wall Street Journal's report that the Department of Justice is unlikely to approve the deal as currently structured. The analyst believes investors will initially see the headlines as negative for the other major wireless carriers, namely AT&T (T) and Verizon (VZ), since they "create uncertainty over long-term industry structure." Further, investors will initially see these headlines as a slight positive for tower operators American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC) as they "imply less risk of material cell site decommissioning," Feldman told investors earlier in a research note. The analyst also thinks investors will view the Journal's report as positive for owners of excess spectrum such as Dish (DISH) and Intelsat (I) and a slight positive for cable operators like Altice USA (ATUS), Charter (CHTR) and Comcast (CMCSA).

S

Sprint

$5.69

0.115 (2.06%)

TMUS

T-Mobile

$72.36

1.36 (1.92%)

T

AT&T

$32.17

0.085 (0.26%)

VZ

Verizon

$58.00

-0.195 (-0.34%)

AMT

American Tower

$190.37

-0.23 (-0.12%)

CCI

Crown Castle

$123.35

-1.9 (-1.52%)

SBAC

SBA Communications

$197.35

-1.34 (-0.67%)

DISH

Dish

$34.87

0.77 (2.26%)

I

Intelsat

$18.86

0.38 (2.06%)

ATUS

Altice USA

$23.36

-0.18 (-0.76%)

CHTR

Charter

$359.76

1.87 (0.52%)

CMCSA

Comcast

$42.30

0.33 (0.79%)

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S Sprint
$5.69

0.115 (2.06%)

04/15/19
04/15/19
DOWNGRADE
Target $196

Market Perform
American Tower downgraded to Market Perform on valuation at Wells Fargo
As previously reported, Wells Fargo analyst Jennifer Fritzsche downgraded American Tower (AMT) to Market Perform from Outperform, while raising her price target on the shares to $196 from $190. The analyst notes that the stock is up 25%-plus year to data. Furthermore, Fritzsche remains concerned about headwinds on the international side of its business as well as 2019 guidance, which likely will not fall into the normal "beat and raise" story it has seen in the past given somewhat of a holding pattern of spending by carriers in the U.S. Additionally, while the outcome of the looming Sprint (S)/T-Mobile (TMUS) merger could impact the group overall, American Tower's valuation could be more impacted given its strong performance year to date, she contends.
02/28/19
BTIG
02/28/19
NO CHANGE
Target $60
BTIG
Buy
SoftBank price target raised to $60 from $50 at BTIG
BTIG analyst Walter Piecyk raised his price target on SoftBank (SFTBY) to $60 and kept his Buy rating, citing his "better understanding" of the previously acquired ARM Holdings business which warrants a higher multiple. The analyst also sees a major catalyst coming in the "imminent decision" around Sprint (S) / T-Mobile (TMUS) deal, which could amount to additional $14 price target impact on Softbank shares.
02/28/19
02/28/19
DOWNGRADE

Perform
American Tower downgraded to Perform on valuation at Oppenheimer
As previously reported, Oppenheimer analyst Timothy Horan downgraded American Tower (AMT) to Perform from Outperform on valuation. The analyst notes that the stock is up 19.5% since his wireless tower outlook published in early October, while Crown Castle (CCI) is up only 7.5%. While Horan acknowledges that American Tower's fundamentals are strong and the company is well positioned for growth, he believes there are near-term concerns. India churn brings volatility into the model, rising rates are a risk, as is the Spring (S)/T-Mobile (TMUS) merger and forex, he contends.
04/17/19
WELS
04/17/19
NO CHANGE
WELS
Wells Fargo remains at 60% probability T-Mobile, Sprint deal gets approved
Wells Fargo analyst Jennifer Fritzsche notes that the Wall Street Journal reported DoJ staff expressed concerns about the Sprint (S)/T-Mobile (TMUS) merger at a meeting earlier this month as it would present a ''threat to competition." The analyst remains at a 60% of probability the deal gets approved, and does not see this report at new news. While Sprint's road is much more unknown in the event of no merger, in either scenario Fritzsche continues to favor T-Mobile's shares.
TMUS T-Mobile
$72.36

1.36 (1.92%)

T AT&T
$32.17

0.085 (0.26%)

03/15/19
03/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Amazon.com (AMZN) upgraded to Overweight from Sector Weight at KeyBanc with analyst Edward Yruma saying Amazon is taking a number of operational moves to improve profitability in core retail, which could drive mid-term earnings above current consensus estimates. 2. AT&T (T) upgraded to Outperform from Market Perform at Raymond James with analyst Frank Louthan saying AT&T shares trade at a relative discount and expects shares to be driven by positive earnings growth combined with a strong de-levering story. 3. Colfax (CFX) upgraded to Equal Weight from Underweight at Barclays with analyst Julian Mitchell saying he views the company's turnaround story as underappreciated. 4. Rent-A-Center (RCII) upgraded to Outperform from Market Perform at Raymond James with analyst Budd Bugatch citing the trial win regarding the terminated buyout with Vintage Capital and a strong fundamental outlook for the upgrade. 5. Global Net Lease (GNL) upgraded to Buy from Neutral at B. Riley FBR with analyst Bryan Maher citing the stock's attractive relative valuation as well as management's acquisition "acumen" for the upgrade to Buy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/19
JPMS
03/27/19
NO CHANGE
JPMS
Fundamentals across cable remain strong, says JPMorgan
Sustained household formation and wage growth, along with a pullback in promotional activity at AT&T (T), the main competitor to most multi-service operators, keeps fundamentals across cable strong, JPMorgan analyst Philip Cusick tells investors in a research note. In 2018, the U.S. added ~1.5m households for the second year in a row, "which sets up the wireline video and broadband ecosystems well in 2019," says the analyst. Altice USA (ATUS) and Charter Communications (CHTR) are both on the JPMorgan's Analyst Focus List, and Comcast (CMCSA) is Cusick's favorite mega-cap service provider. The analyst is "wary" of the multiple of Underweight-rated Cable One (CABO), but admits its operational momentum seems strong.
03/29/19
03/29/19
UPGRADE
Target $35

Buy
Viacom upgraded to Buy at Loop Capital on de-risked AT&T loss
As previously reported, Loop Capital analyst Alan Gould upgraded Viacom (VIAB) to Buy from Hold with a price target of $35. The analyst cites the company's loss of its biggest distributor AT&T (T) having been de-risked which, he believes, raises the likelihood of a Viacom merger with CBS (CBS). Gould adds that despite the renewed distribution deal with AT&T, investors can accumulate shares at a lower price than a few weeks ago, resulting in a "positive risk-reward" for Viacom.
04/05/19
04/05/19
UPGRADE
Target $36

Outperform
Viacom upgraded to Outperform from Sector Perform at RBC Capital
As previously reported, RBC Capital analyst Steven Cahall upgraded Viacom (VIAB) to Outperform from Sector Perform and raised his price target to $36 from $31, saying the company's "less contentious" than feared DirecTV (T) deal improves its standing and "paves the way toward merger talks" with CBS (CBS). The analyst sees an implied upside for Viacom stock at over 30% on the CBS deal prospects and believes that investors should own both to hedge the exchange ratio risk of the potential transaction.
VZ Verizon
$58.00

-0.195 (-0.34%)

02/22/19
MSCO
02/22/19
NO CHANGE
Target $58
MSCO
Equal Weight
5G financial impact won't be felt by Verizon until 2021/22, says Morgan Stanley
After attending Verizon's first analyst day in seven years, Morgan Stanley analyst Simon Flannery said the company provided "a lot of helpful material" on its 5G plans, but provided limited incremental information around deployment timelines or business models. The analyst, said it seems that the financial impact of 5G will not be felt by Verizon until the 2021/22 period, also said that it appears to him that operational momentum from 2018 is continuing into 2019. Flannery maintains an Equal Weight rating on Verizon with a $58 price target on the shares.
02/22/19
WELS
02/22/19
NO CHANGE
Target $65
WELS
Outperform
Verizon has network focus in its 'DNA,' says Wells Fargo
After attending Verizon's analyst day centered around the company's "very detailed 5G strategy," Wells Fargo analyst Jennifer Fritzsche noted that there were a lot of new faces on the stage compared to five years ago but she said the company "appreciates the network is THE # 1 focus" and "that network focus...is fully in this company's DNA it seems." The analyst, who favors the way Verizon is "doubling down on what it knows best," namely the network, left the meeting with confidence a 5G plan is in place. She keeps an Outperform rating on Verizon shares and raised her price target on the stock to $65 from $60.
01/29/19
01/29/19
DOWNGRADE

Hold
Adtran downgraded to Hold at Needham on margin pressure
As previously reported, Needham analyst Richard Valera downgraded Adtran to Hold from Buy, saying that while the company posted solid Q4 results, the quarter was aided "by the re- emergence of Telmex" and warns that its shift toward international business will results in "structurally lower margins" and limited earnings power. The analyst further notes that he had previously anticipated AT&T (T) and Verizon (VZ) deals as "potentially significant" North America revenue opportunities, but now sees "little confidence either of these programs will ramp substantially over the near to medium term." Valera adds that the recent bounce in Adtran stock has taken its price to within 10% of his prior target, justifying a neutral stance.
01/25/19
HSBC
01/25/19
DOWNGRADE
Target $24
HSBC
Reduce
Dish downgraded to Reduce from Hold at HSBC
HSBC analyst Sunil Rajgopal downgraded Dish (DISH) to Reduce from Hold and cut his price target on the shares to $24 from $38, advocating that investors choose "sturdy carriers" such as Verizon (VZ), T-Mobile (TMUS), AT&T (T) and Comcast (CMCSA). For 2019, Rajgopal 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.
AMT American Tower
$190.37

-0.23 (-0.12%)

04/15/19
WELS
04/15/19
DOWNGRADE
WELS
Market Perform
American Tower downgraded to Market Perform from Outperform at Wells Fargo
03/06/19
RBCM
03/06/19
NO CHANGE
Target $195
RBCM
Outperform
American Tower price target raised to $195 from $173 at RBC Capital
RBC Capital analyst Jonathan Atkin raised his price target on American Tower to $195 and kept his Outperform rating, saying the company's U.S. leasing trends in Q4 were "solid" even as it navigates through the "choppy" international market. The analyst notes that his price target change is also driven by the rollout of his model to 2020, while his positive stance remains supported by American Tower's "highly predictable revenues", high cash flow conversion rates, steady site leasing demand, rising dividend yield, and minimal balance sheet risk.
03/13/19
EDJN
03/13/19
DOWNGRADE
EDJN
Hold
American Tower downgraded to Hold from Buy at Edward Jones
CCI Crown Castle
$123.35

-1.9 (-1.52%)

04/12/19
GUGG
04/12/19
DOWNGRADE
GUGG
Neutral
Crown Castle downgraded to Neutral from Buy at Guggenheim
04/12/19
GUGG
04/12/19
DOWNGRADE
Target $127
GUGG
Neutral
Crown Castle downgraded to Neutral on valuation at Guggenheim
As previously reported, Guggenheim analyst Robert Gutman downgraded Crown Castle to Neutral from Buy saying secular strength is now reflected in valuation and raised his price target to $127 from $120.
04/15/19
WELS
04/15/19
NO CHANGE
Target $142
WELS
Outperform
Crown Castle price target raised to $142 from $129 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche raised her price target for Crown Castle to $142 from $129 as it checks multiple infrastructure boxes for wireless carriers. The analyst believes this multi-tentacle approach will serve it well as carriers' network needs become more focused on densification and fiber centric. Simply put, the company has "more tools in the toolkit," she contends. Fritzsche reiterates an Outperform rating on the shares.
04/12/19
04/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Sell at New Street. 2. Chesapeake (CHK) downgraded to Sell from Neutral at Goldman Sachs. 3. Grainger (GWW) downgraded to Underperform at Gordon Haskett with analyst John Inch citing his view of the risk that Grainger's U.S. sales significantly decelerate, driven by his analysis of web data. 4. LogMeln (LOGM) downgraded to Underweight from Overweight at Barclays with analyst Raimo Lenschow saying the core LogMeln offering around the Gravity platform is at the end of its growth trajectory, as the impact of pricing is weakening. 5. Crown Castle (CCI) downgraded to Neutral from Buy at Guggenheim with analyst Robert Gutman saying secular strength is now reflected in valuation and raised his price target to $127 from $120. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SBAC SBA Communications
$197.35

-1.34 (-0.67%)

04/11/19
RHCO
04/11/19
NO CHANGE
Target $217
RHCO
Buy
SBA Communications price target raised to $217 from $197 at SunTrust
SunTrust analyst Greg Miller raised his price target on SBA Communications to $217 and kept his Buy rating after meeting with its management, which maintained the company's long-term goal of monetizing its assets in the wireless industry. The analyst believes the company is well positioned to "extract higher rents for its towers as carriers continue to add capacity" amid deployment of 5G wireless technology and the required "densification" to meet rising mobile connectivity demand. Miller adds that SBA Communications will likely "continue to prioritize repatriating capital to shareholders via buybacks versus buying new assets" after a "significant increase in private market valuations of privately-owned tower assets."
12/17/18
MSCO
12/17/18
NO CHANGE
MSCO
North American REIT sector upgraded to In-Line at Morgan Stanley
Morgan Stanley analysts led by Richard Hill upgraded their sector view for North American REITs to In-Line from Cautious, noting that REIT growth is stabilizing and more appropriately priced, the setup for the sector relative to the broader market is favorable and the defensive characteristics of the group in a slowing economy. Calling the sector upgrade a "relative, not an absolute call," the analyst team identified CyrusOne (CONE), Essex Property Trust (ESS), Gaming and Leisure Properties (GLPI), Hudson Pacific (HPP), Prologis (PLD), Regency Centers (REG), SBA Communications (SBAC) and Store Capital (STOR) as their top picks.
02/22/19
GUGG
02/22/19
DOWNGRADE
Target $185
GUGG
Neutral
Guggenheim downgrades SBA Communications, says positive trends priced in
As previously reported, Guggenheim analyst Robert Gutman downgraded SBA Communications to Neutral from Buy, stating that although its 2019 guidance points to ongoing organic growth acceleration, it also came in below his estimates. The analyst, who sees the company's positive trends as largely priced in at the current level of the stock, maintains a $185 price target on SBA Communications shares.
02/12/19
KEYB
02/12/19
NO CHANGE
Target $195
KEYB
Overweight
SBA Communications price target raised to $195 from $183.97 at KeyBanc
KeyBanc analyst Brandon Nispel raised his price for SBA Communications (SBAC) to $195 from $183.97 and reiterated an Overweight rating on the shares. The analyst believes that if the T-Mobile (TMUS)/Sprint (S) merger goes through, 2020 should be another year of growth acceleration.
DISH Dish
$34.87

0.77 (2.26%)

02/28/19
KEYB
02/28/19
NO CHANGE
Target $185
KEYB
Overweight
American Tower price target raised to $185 from $180 at KeyBanc
KeyBanc analyst Brandon Nispel raised his price target for American Tower (AMT) to $185 from $180 as he believes a premium valuation is warranted over peers for its higher domestic organic growth. The analyst reiterates an Overweight rating on the shares given strong domestic growth in 2019 potentially continuing into 2020; return to growth in India in 2020; the company's innovation program that is not in models; DISH (DISH) 5G deployments in 2020 and beyond; 5G mid-band spectrum in 2021 and beyond; and 20% dividend growth rate increase for the next several years.
02/19/19
RBCM
02/19/19
NO CHANGE
Target $33
RBCM
Sector Perform
Dish price target lowered to $33 from $40 at RBC Capital
RBC Capital analyst Kutgun Maral lowered his price target on Dish to $33 and kept his Sector Perform rating after its Q4 results. The analyst says the company's linear and virtual subscription trends remain pressured and he sees it "vulnerable to further sub losses without a viable broadband product." Maral adds that he is cautioned by Dish's "increasing wireless spend, lack of identifiable revenues or cashflows from the NB-IoT network, and potential further capex increases to comply with licensing requirements".
03/04/19
GUGG
03/04/19
NO CHANGE
Target $48
GUGG
Buy
Dish added to Best Ideas List at Guggenheim
Guggenheim analyst Mike McCormack added Dish (DISH) to his Best Ideas List and sees the company offering the "most significant opportunity in 2018", also keeping his Buy rating and $48 price target on the shares. The analyst says that the regulatory update on T-Mobile (TMUS) / Sprint (S) merger expected this year would give Dish partnership opportunities in the event of a no-deal and "divestitures and other competitive maneuvering" in case of the approval. In addition, McCormack believes that the Narrowband - Internet of Things development "will satisfy buildout requirements looming in March of 2020", deflating the risks around Dish's spectrum assets assumed by the Bear case. Lastly, the analyst expects more clarity on the Designated Entity issue being on the radar for 2019 as a positive for Dish shares.
02/14/19
02/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Yelp (YELP) downgraded to Neutral from Buy at Citi with analyst Mark May saying despite "solid" Q4 results and management's new bullish long-term targets, the company's sales outlook "points to more challenging near-term business conditions than we expected." 2. Dish (DISH) downgraded to Equal Weight from Overweight at Barclays with analyst Kannan Venkateshwar saying while he believes the stock's current price implies "a deep discount relative to its intrinsic value," that "valuation may be moot if Dish is unable to fund its build and vendors are unwilling to work with the company." 3. D.R. Horton (DHI) double downgraded to Market Perform from Strong Buy at Raymond James while PulteGroup (PHM) was downgraded to Market Perform from Outperform. 4. Dunkin' Brands (DNKN) downgraded to Hold from Buy at Argus with analyst John Staszak citing the management's plans to add fewer stores going forward and the company's prospects for low-single digit same-store sales growth. 5. Sierra Wireless (SWIR) downgraded to Neutral from Outperform at First Analysis and to Underperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
I Intelsat
$18.86

0.38 (2.06%)

04/03/19
JPMS
04/03/19
UPGRADE
Target $27
JPMS
Overweight
Intelsat upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick upgraded Intelsat to Overweight from Neutral with a $27 price target. The analyst a C-band spectrum sale as the most likely course for the company.
04/03/19
04/03/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Urban Outfitters (URBN) upgraded to Buy from Neutral at DA Davidson with analyst John Morris saying the data showcase the company's "green shoots in improving pricing architecture at the Anthropologie division with stronger pricing and lower markdown cadence at the Urban division." 2. Intelsat (I) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying the stock has declined 28% year-to-date and 38% since February 27 when a "slew of headlines all but halted" the C-Band Alliance's momentum in D.C. 3. e.l.f. Beauty (ELF) upgraded to Buy from Hold at Jefferies with analyst Stephanie Wissink saying he believes the company's improved merchandising focus will drive a "meaningful reversal" in sales trends. 4. Enterprise Products (EPD) upgraded to Buy from Neutral at Goldman Sachs with analyst Michael Lapides citing the company's improving cash flow, exposure to key themes that include a "leading position in crude oil and NGL exports," and its position as "one of the more integrated infrastructure portfolios within the sector," extending its footprint "further downstream than most midstream companies." 5. CommScope (COMM) upgraded to Strong Buy from Outperform at Raymond James with analyst Simon Leopold saying he believes the earnings accretion from the pending Arris (ARRS) acquisition is underappreciated and will provide at least 40% accretion versus management's forecast for over 30% and analyst estimates of 25%-43%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/19
JPMS
04/03/19
UPGRADE
Target $27
JPMS
Overweight
JPMorgan upgrades Intelsat to Overweight ahead of expected spectrum sales
JPMorgan analyst Philip Cusick upgraded Intelsat to Overweight from Neutral with an unchanged price target of $27. The stock has declined 28% year-to-date and 38% since February 27 when a "slew of headlines all but halted" the C-Band Alliance's momentum in D.C., Cusick tells investors in a research note. However, after being overly-optimistic in the fall, the market is now "underpricing the likelihood" of Intelsat and the C-Band Alliance eventually selling spectrum and "reaping substantial proceeds," says the analyst. Cusick believes the alliance still has the support of key decision makers at the Federal Communications Commission and that some version of a market-based approach is the most likely path to get C-Band spectrum into the hands of wireless carriers in the next five years.
03/06/19
03/06/19
UPGRADE

Market Perform
Intelsat upgraded to Market Perform on valuation at Raymond James
As previously reported, Raymond James upgraded Intelsat to Market Perform from Underperform. Analyst Ric Prentiss believes Intelsat's valuation more appropriately reflects a reasonable @/Mhz Pop net price valuation for the possible monetization opportunity.
ATUS Altice USA
$23.36

-0.18 (-0.76%)

02/26/19
SBSH
02/26/19
NO CHANGE
Target $27
SBSH
Buy
Altice USA shares have 'more room to run,' says Citi
Citi analyst Jason Bazinet raised his price target for Altice USA to $27 from $26 and maintains a Buy rating on the shares. In a research note titled "More Room to Run," the analyst says Altice USA is unique among U.S. cable names because it trades on enterprise value to EBITDA. Wireless entry may be critical for Altice's equity, Bazinet contends. He believes that if the company takes advantage of its "favorable" wireless virtual network operator position and "aggressively" rolls out wireless in 2019, it could lift Altice's sales by 100 basis points while only modestly impacting EBITDA margins.
01/16/19
01/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mercantil Bank (AMTB) initiated with a Buy at SunTrust. 2. ViewRay (VRAY) initiated with a Buy at Guggenheim. 3. PTC (PTC) initiated with a Buy at Deutsche Bank. 4. Altice USA (ATUS) and Charter (CHTR) were initiated with a Buy at TD Securities. Charter (CHTR) was also initiated with a Neutral at Nomura Instinet. 5. Take-Two (TTWO) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/15/19
NOMU
01/15/19
INITIATION
Target $25
NOMU
Buy
Altice USA initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Gregory McNiff started Altice USA with a Buy rating and $25 price target. The company is well positioned to sustained "best-in-class" margins while "industry-high" usage drives broadband average revenue per user growth, McNiff tells investors in a research note.
CHTR Charter
$359.76

1.87 (0.52%)

04/09/19
04/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. SAP (SAP) downgraded to Hold from Buy at HSBC and to Neutral from Buy at UBS. 2. American Assets Trust (AAT) downgraded to Sector Weight from Overweight at KeyBanc with analyst Todd Thomas saying the stock has surpassed his previous $45 price target. 3. Ball Corp. (BLL) downgraded to Market Perform from Outperform at BMO Capital with analyst Mark Wilde saying that after an "impressive run," the stock is now trading at the upper end of its peer group range. 4. Charter (CHTR) downgraded to Neutral on valuation at Macquarie with analyst Amy Young saying shares reflect much of the operational and free cash flow potential and further multiple expansion hinges on its ability to set a consistent track record. 5. U.S. Steel (X) downgraded to Underperform from Neutral at Credit Suisse with analyst Curt Woodworth saying after performing deep dive analysis on U.S. Steel Flat Rolled segment, the analyst concludes the step-function rise in unit costs the past several years coupled with loss of automotive share suggests the company is in a weaker competitive position versus peers entering the "Sheet Tsunami" period in the U.S. from 2021-2022. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
MACQ
04/09/19
DOWNGRADE
MACQ
Neutral
Charter downgraded to Neutral on valuation at Macquarie
Macquarie analyst Amy Young downgraded Charter to Neutral from Outperform as shares have largely reached her price target of $375. Young said shares reflect mush of the operational and free cash flow potential and further multiple expansion hinges on its ability to set a consistent track record.
03/29/19
RBCM
03/29/19
DOWNGRADE
RBCM
Sector Perform
Comcast, Charter downgraded to Sector Perform at RBC Capital
RBC Capital analyst Kutgun Maral downgraded Charter (CHTR) and Comcast (CMCSA) to Sector Perform as part of his broader research note anticipating downside risk to broadband and video subscriber estimates through 2019. The analyst believes that these cable operators should see limited further stock outperformance after 25% and 16% respective run-up year-to-date that was driven by the "pickup in broadband sub growth, stable Pay TV sub losses, declining core capital intensity, and ramping free cash flow growth". Going forward, Maral contends that while consensus anticipates these "strong operating and financial trends" to continue, the sector will be pressured by cyclical and secular headwinds, accelerating video sub losses in a pivot from video towards connectivity, and buybacks being hindered by cable operators' "mobile ambitions".
03/29/19
03/29/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Hold from Buy at Deutsche Bank with analyst Matt O'Connor saying he sees management and earnings uncertainty after the company announced that CEO and President Tim Sloan will step down effective immediately. 2. RH (RH) downgraded to Hold from Buy at Deutsche Bank with analyst Mike Baker saying he continues to believe in the long-term prospects for RH and acknowledges "that it is one of the few retailers growing sales, margins, profit dollars and earnings." 3. Carlyle Group (CG) downgraded to Neutral from Buy at BofA/Merrill. 4. Comcast (CMCSA) and Charter (CHTR) downgraded to Sector Perform from Outperform at RBC Capital. 5. Mosaic (MOS) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying following Mosaic's analyst day, he feels phosphate fundamentals have weakened in the near term and are unlikely to pick-up significantly "despite the company acting as a swing supplier by curtailing capacity." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CMCSA Comcast
$42.30

0.33 (0.79%)

04/09/19
04/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Outperform from Market Perform at Cowen with analyst Doug Creutz saying he views Disney's "catalyst path for the next year as highly attractive" and believes Thursday's investor day will likely be a "deck-clearing event for sentiment." 2. Comcast (CMCSA) upgraded to Outperform from Neutral at Macquarie with analyst Amy Young saying she remains bullish on pure-play Altice and efforts across Sky, Xfinity, and NBCU. 3. Geron (GERN) upgraded to Buy from Hold at Needham with analyst Chad Messer saying the return of development rights for imetelstat in September by Janssen (JNJ) has created a "buying opportunity." 4. Public Storage (PSA) upgraded to Hold from Underperform at Jefferies with analyst Omotayo Okusanya saying with interest rates set to be lower for longer, equity risk premiums have dropped. 5. PerkinElmer (PKI) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Patrick Donnelly saying the continuation of the company's growth acceleration should exceed "conservative" expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/19
BUCK
04/10/19
NO CHANGE
Target $53
BUCK
Buy
Comcast price target raised to $53 from $49 at Buckingham
Buckingham analyst Matthew Harrigan raised his price target on Comcast to $53 from $49, citing his view that NBCUniversal should emerge as a credible direct-to-consumer streaming entrant. He also likes the defensive attributes of Comcast's U.S. and European subscription businesses in this market environment, Harrigan tells investors. He keeps a Buy rating on Comcast shares.
04/12/19
NOMU
04/12/19
NO CHANGE
Target $44
NOMU
Neutral
Comcast price target raised to $44 from $41 at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal raised his price target for Comcast to $44 from $41 ahead of the company's Q1 results and keeps a Neutral rating on the shares. The analyst expects Comcast to deliver upside to consensus high speed internet net adds, "strong" enterprise demand, and video losses "no worse than consensus."
04/09/19
MACQ
04/09/19
UPGRADE
Target $49
MACQ
Outperform
Comcast upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Amy Young upgraded Comcast to Outperform from Neutral with a $49 price target saying she remains bullish on pure-play Altice and efforts across Sky, Xfinity, and NBCU. Young sees several upside scenarios including growth from the integration of NBC's X1 voice platform into Sky Q, Sky's streaming platform, and xFi's Italy launch, Xfinity's ability to remain relevant with its industry-leading platform of apps and mobile growth turning profitable, and NBCU's 2019 film slate and 2020 digital debut could provide upside to earnings. The analyst also expects leverage to fall below 3.3x and reach 2.4x by 2021 and views valuation as "undemanding."

TODAY'S FREE FLY STORIES

PM

Philip Morris

$85.49

-0.71 (-0.82%)

07:01
04/18/19
04/18
07:01
04/18/19
07:01
Earnings
Philip Morris reports Q1 adjusted EPS $1.09, consensus 97c »

Reports Q1 revenue $6.8B,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 18

    Apr

  • 01

    May

  • 06

    May

TRV

Travelers

$135.89

-2.48 (-1.79%)

07:01
04/18/19
04/18
07:01
04/18/19
07:01
Hot Stocks
Travelers raises quarterly dividend 6.5% to 82c per share »

The Board of Directors…

03/08/13
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  • 18

    Apr

LVS

Las Vegas Sands

$67.90

-0.205 (-0.30%)

, WYNN

Wynn Resorts

$143.35

-1.37 (-0.95%)

07:01
04/18/19
04/18
07:01
04/18/19
07:01
Recommendations
Las Vegas Sands, Wynn Resorts, Melco Resorts & Entertainment analyst commentary  »

Las Vegas Sands price…

LVS

Las Vegas Sands

$67.90

-0.205 (-0.30%)

WYNN

Wynn Resorts

$143.35

-1.37 (-0.95%)

MLCO

Melco Resorts & Entertainment

$26.43

0.52 (2.01%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 07

    May

  • 16

    May

  • 29

    May

INN

Summit Hotel Properties

$11.64

0.01 (0.09%)

07:00
04/18/19
04/18
07:00
04/18/19
07:00
Hot Stocks
Summit Hotel Properties sells 6 hotels for $135M »

Summit Hotel Properties…

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  • 02

    May

  • 16

    May

  • 16

    May

07:00
04/18/19
04/18
07:00
04/18/19
07:00
General news
European stock markets are trading mixed, »

European stock markets…

TRV

Travelers

$135.89

-2.48 (-1.79%)

06:59
04/18/19
04/18
06:59
04/18/19
06:59
Hot Stocks
Travelers reports consolidated combined ratio of 93.7% »

Reports underlying…

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  • 18

    Apr

TRV

Travelers

$135.89

-2.48 (-1.79%)

06:58
04/18/19
04/18
06:58
04/18/19
06:58
Hot Stocks
Travelers reports book value per share $92.94, up 7% from year-end 2018 »

Reports adjusted book…

03/08/13
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  • 18

    Apr

TRV

Travelers

$135.89

-2.48 (-1.79%)

06:57
04/18/19
04/18
06:57
04/18/19
06:57
Hot Stocks
Breaking Hot Stocks news story on Travelers »

Travelers raises…

03/08/13
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  • 18

    Apr

CTG

Computer Task Group

$4.27

0.02 (0.47%)

06:57
04/18/19
04/18
06:57
04/18/19
06:57
Earnings
Computer Task Group backs FY19 non-GAAP EPS view 30c-40c, consensus 33c »

Backs FY19 revenue view…

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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  • 18

    Apr

SNAP

Snap

$11.75

0.08 (0.69%)

06:57
04/18/19
04/18
06:57
04/18/19
06:57
Downgrade
Snap rating change  »

Snap downgraded to…

03/08/13
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  • 23

    Apr

TRV

Travelers

$135.89

-2.48 (-1.79%)

06:57
04/18/19
04/18
06:57
04/18/19
06:57
Earnings
Travelers reports Q1 core EPS $2.83, consensus $2.74 »

Reports Q1 revenue…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Apr

FSLR

First Solar

$60.70

0.17 (0.28%)

06:57
04/18/19
04/18
06:57
04/18/19
06:57
Recommendations
First Solar analyst commentary  »

First Solar should be…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 15

    May

  • 17

    May

PPG

PPG

$117.39

-1.01 (-0.85%)

06:57
04/18/19
04/18
06:57
04/18/19
06:57
Earnings
PPG backs FY19 adjusted EPS growth 7%-10%, consensus $6.24 »

"More broadly, we…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Apr

  • 18

    Apr

CTG

Computer Task Group

$4.27

0.02 (0.47%)

06:56
04/18/19
04/18
06:56
04/18/19
06:56
Earnings
Computer Task Group reports Q1 non-GAAP EPS 6c, consensus 6c »

Reports Q1 revenue…

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03/06/13
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  • 18

    Apr

PPG

PPG

$117.39

-1.01 (-0.85%)

06:54
04/18/19
04/18
06:54
04/18/19
06:54
Hot Stocks
PPG CEO says Q1 operating margins 'were higher than the prior year' »

"First quarter…

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03/06/13
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  • 18

    Apr

  • 18

    Apr

PPG

PPG

$117.39

-1.01 (-0.85%)

06:53
04/18/19
04/18
06:53
04/18/19
06:53
Hot Stocks
PPG says committed to finalizing strategic review be end of second quarter »

The company continues to…

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  • 18

    Apr

  • 18

    Apr

IRBT

iRobot

$129.26

-0.74 (-0.57%)

06:52
04/18/19
04/18
06:52
04/18/19
06:52
Recommendations
iRobot analyst commentary  »

iRobot price target…

03/08/13
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  • 24

    Apr

PPG

PPG

$117.39

-1.01 (-0.85%)

06:52
04/18/19
04/18
06:52
04/18/19
06:52
Earnings
PPG sees Q2 EPS $1.76-$1.86, consensus $1.86 »

"As we look ahead to…

03/08/13
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03/08/13
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03/06/13
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  • 18

    Apr

  • 18

    Apr

MNK

Mallinckrodt

$19.12

-2.51 (-11.60%)

06:52
04/18/19
04/18
06:52
04/18/19
06:52
Hot Stocks
Mallinckrodt announces results from gNO with EVLP study »

Mallinckrodt announced…

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  • 06

    May

  • 07

    May

PPG

PPG

$117.39

-1.01 (-0.85%)

06:51
04/18/19
04/18
06:51
04/18/19
06:51
Earnings
PPG reports Q1 adjusted EPS $1.38, consensus $1.21 »

Reports Q1 revenue…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Apr

  • 18

    Apr

LULU

Lululemon

$171.19

2.28 (1.35%)

06:51
04/18/19
04/18
06:51
04/18/19
06:51
Conference/Events
Lululemon to host analyst day »

Analyst day to be held in…

03/08/13
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  • 24

    Apr

SON

Sonoco

$60.98

-0.235 (-0.38%)

06:49
04/18/19
04/18
06:49
04/18/19
06:49
Earnings
Sonoco raises FY19 base EPS view to $3.52-$3.62 from $3.47-$3.57 »

Consensus for FY19 EPS is…

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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  • 18

    Apr

  • 07

    May

  • 18

    Jul

  • 17

    Oct

DOV

Dover

$96.81

-0.66 (-0.68%)

06:49
04/18/19
04/18
06:49
04/18/19
06:49
Earnings
Breaking Earnings news story on Dover »

Dover backs FY19 adj. EPS…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Apr

  • 02

    May

VRAY

ViewRay

$7.26

-0.16 (-2.16%)

06:49
04/18/19
04/18
06:49
04/18/19
06:49
Hot Stocks
ViewRay announces Minouge Medical as Canadian distributor of MRIdian »

ViewRay announced that…

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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  • 02

    May

NICE

Nice

$130.90

2.04 (1.58%)

, VRNT

Verint

$60.20

-1.49 (-2.42%)

06:48
04/18/19
04/18
06:48
04/18/19
06:48
Upgrade
Nice, Verint rating change  »

JPMorgan upgrades Nice to…

NICE

Nice

$130.90

2.04 (1.58%)

VRNT

Verint

$60.20

-1.49 (-2.42%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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