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CMCSA

Comcast

$41.87

-0.11 (-0.26%)

, CMCSK

Comcast

$0.00

(0.00%)

20:25
04/24/19
04/24
20:25
04/24/19
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Comcast (CMCSA), consensus 67c... 3M Company (MMM), consensus $2.49... AbbVie (ABBV), consensus $2.06... Altria (MO), consensus 92c... UPS (UPS), consensus $1.41... Bristol-Myers Squibb (BMY), consensus $1.09... Raytheon (RTN), consensus $2.47... Illinois Tool Works (ITW), consensus $1.81... Baxter International (BAX), consensus 68c... Valero Energy (VLO), consensus 29c... Southwest Airlines (LUV), consensus 61c... Hershey (HSY), consensus $1.46... Rockwell Automation (ROK), consensus $2.08... Hess (HES), consensus (30c)... Freeport-McMoRan (FCX), consensus (8c)... International Paper (IP), consensus 91c... D.R. Horton (DHI), consensus 86c... Tractor Supply (TSCO), consensus 55c... Masco (MAS), consensus 48c... Invesco (IVZ), consensus 53c... Cleveland-Cliffs (CLF), consensus (13c).

CMCSA

Comcast

$41.87

-0.11 (-0.26%)

CMCSK

Comcast

$0.00

(0.00%)

MMM

3M

$219.24

-0.28 (-0.13%)

ABBV

AbbVie

$78.71

0.06 (0.08%)

MO

Altria Group

$54.70

-0.14 (-0.26%)

UPS

UPS

$114.39

0.79 (0.70%)

BMY

Bristol-Myers

$44.63

-0.69 (-1.52%)

RTN

Raytheon

$185.44

-2.08 (-1.11%)

ITW

Illinois Tool Works

$156.78

-1.14 (-0.72%)

BAX

Baxter

$76.31

-0.02 (-0.03%)

VLO

Valero

$87.75

-2.53 (-2.80%)

LUV

Southwest

$52.92

0.11 (0.21%)

HSY

Hershey

$117.01

0.16 (0.14%)

ROK

Rockwell Automation

$188.97

-0.405 (-0.21%)

HES

Hess Corp.

$65.79

-1.67 (-2.48%)

FCX

Freeport McMoRan

$13.57

0.115 (0.85%)

IP

International Paper

$44.30

-0.37 (-0.83%)

DHI

D.R. Horton

$46.67

0.275 (0.59%)

TSCO

Tractor Supply

$104.09

0.88 (0.85%)

MAS

Masco

$39.98

-0.02 (-0.05%)

IVZ

Invesco

$21.53

-0.09 (-0.42%)

CLF

Cleveland-Cliffs

$9.52

0.025 (0.26%)

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CMCSA Comcast
$41.87

-0.11 (-0.26%)

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."
04/17/19
GSCO
04/17/19
NO CHANGE
GSCO
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).
04/22/19
MSCO
04/22/19
NO CHANGE
MSCO
Morgan Stanley says streaming video survey points to more multiple service users
Morgan Stanley analyst Benjamin Swinburne said his firm's annual streaming video survey showed that Netflix (NFLX) remains the most widely used service, with 48% of respondents identifying themselves as users. Of interest, 50% of Netflix users also use Amazon (AMZN) Prime Video, 64% of Prime members use Netflix and 81% of Hulu users said they use Netflix, all of which are up from the prior survey. Also, 37% of respondents expressed some level of interest in subscribing to Disney+ (DIS) at $8/month, which is higher than the price point the company announced, and 60% of respondents who reported having children expressed some level of interest, noted Swinburne. Hulu is a joint venture of Disney and Comcast (CMCSA).
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.
CMCSK Comcast
$0.00

(0.00%)

12/07/18
WOLF
12/07/18
INITIATION
Target $48
WOLF
Outperform
Comcast Comcast initiated with an Outperform at Wolfe Research
Wolfe Research initiated Comcast with an Outperform rating and $48 price target.
11/08/18
MSCO
11/08/18
INITIATION
Target $46
MSCO
Overweight
Comcast resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne resumed coverage of Comcast (CMCSA) with an Overweight rating and $46 price target, stating that while the burden of proof is on the company to successfully execute its Sky (SKYAY) acquisition, the stock's multiple has compressed even though his expectation for Comcast's consolidated growth outlook has not materially changed. In the near-term, Sky will be accretive to that growth rate, Swinburne added. He also said that Comcast "remains first and foremost a US cable business," and he sees broadband as a secular growth driver with a long-term runway.
10/30/18
MSCO
10/30/18
NO CHANGE
Target $95
MSCO
Overweight
WWE shares 'on sale' after pullback, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne noted that WWE (WWE) shares are down by over 30% this month, which he sees as a "rare opportunity" to buy shares of a company that he sees having both highly visible earnings growth and growing intellectual property value. He attributes the rapid selloff primarily to a broader market rotation out of risk assets due to rising interest rates and concerns over achieving long-term growth, but he thinks this "does not make sense" given that WWE's EBITDA opportunity "is not a decade away, but rather a year away," Swinburne tells investors. Two contracts underwritten by Comcast (CMCSA) and Fox (FOXA) drive the bulk of its earnings growth and its financial outlook has no immediate exposure to ratings or cord-cutting, Swinburne added. While he trimmed his price target on WWE shares to $95 from $105 after bumping up his investment expectations for 2019, the analyst maintains an Overweight rating on the stock.
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.
MMM 3M
$219.24

-0.28 (-0.13%)

01/15/19
JPMS
01/15/19
NO CHANGE
JPMS
Neutral
GE risk/reward unfavorable into Q4 report, says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa says the risk/reward on shares of General Electric (GE) is unfavorable into the company's Q4 earnings report. GE shares have bounced over the last month, outperforming the group by over 3,000 basis points, Tusa writes in a research note previewing earnings reports for the group. He believes the recent stock move "is built upon an expectation of more certainty in the path forward." Tusa thinks the focus on the earnings call should turn back to fundamentals, where he continues to see "disconnect with high level analyses from those who apparently ignore the mechanical headwinds from dilutive asset sales, a key aspect as to why FCF remains so weak." The call will "reinforce the Bear case that there is no concrete silver bullet plan, and much remains fluid, also negative," Tusa contends. He recommends Honeywell (HON) and Emerson Electric (EMR) as longs into the quarter and tells investors to avoid Johnson Controls (JCI), 3M (MMM) and Rockwell Automation (ROK). Tusa has a Neutral rating on General Electric.
03/25/19
DBAB
03/25/19
NO CHANGE
DBAB
Deutsche Bank makes 'Catalyst Call' to buy Honeywell, sell 3M
Deutsche Bank analyst Nicole DeBlase is making a "Catalyst Call" to buy shares of Honeywell (HON) and sell shares of 3M (MMM). The analyst sees continued potential for earnings beats and full year guidance raises from Honeywell given its "attractive exposure" to late-cycle end markets. These include, according to the analyst, aerospace and defense and non-residential construction, along with secular growth drivers such as warehouse automation. On the other hand, DeBlase forecasts a "substantial" 4% earnings miss in Q1 for 3M. The company is exposed to a number of end markets that have faced quarter-over-quarter deterioration, including automotive and electronics and China, the analyst tells investors in a research note. She does not view even the low end of 3M's guidance as achievable. Moreover, she points out that 3M is the most expensive stock she covers. DeBlase has a Buy rating on Honeywell with a Sell rating on 3M.
03/29/19
JPMS
03/29/19
NO CHANGE
Target $154
JPMS
Underweight
3M price target lowered to $154 from $158 at JPMorgan
JPMorgan analyst Stephen Tusa lowered his price target for Underweight-rated 3M to $154 from $158. The analyst says he continues to see evidence of structurally lower profit growth as the company faces an "increasingly apparent trade-off between top line growth and margins." Seasonality, which is typically consistent for "this short cycle player," suggests an earnings per share number that is well below consensus at ~$10, Tusa tells investors in a research note partially titled "The Opposite Of Compounding." 3M's "earnings curve continues to have a downward slope," Tusa writes.
01/30/19
JEFF
01/30/19
NO CHANGE
Target $209
JEFF
Hold
Jefferies 'incrementally cautious' on 3M, sees shares as range-bound
Jefferies analyst Laurence Alexander is "incrementally cautious" on 3M following yesterday's Q4 results. The analyst expects the shares to remain range-bound until after the Chinese New Year and a "more favorable global industrial outlook presents itself." He keeps a Hold rating on 3M with a $209 price target.
ABBV AbbVie
$78.71

0.06 (0.08%)

03/25/19
03/25/19
DOWNGRADE

Hold
AbbVie downgraded to Hold from Buy at Argus
As previously reported, Argus analyst David Toung downgraded AbbVie to Hold, saying its flagship program Humira "no longer looks invulnerable to competition from biosimilars in Europe and other overseas markets." The analyst notes that Humira is also faced with "indirect competition from newer drugs that have an alternative mechanism of action" compared to Humira's anti-TNF class. Toung further cites AbbVie's clinical setback with Venclexta, which highlights the risks for the company as it develops a pipeline aimed to offset the expected decline in Humira sales.
03/25/19
ARGS
03/25/19
DOWNGRADE
ARGS
Hold
AbbVie downgraded to Hold from Buy at Argus
04/11/19
EVER
04/11/19
INITIATION
Target $30
EVER
Outperform
Myovant Sciences initiated with an Outperform at Evercore ISI
Evercore ISI analyst Ravi Mehrotra initiated Myovant Sciences (MYOV) with an Outperform rating and a price targets of $30. The analyst says the company's lead program relugolix has been clinically de-risked with near-term pivotal data readouts. Mehrotra is modeling revenues of $944M for the program by 2023 thanks to its "commercial advantage of a one-a-day pill" and the "second-mover leverage of competitor AbbVie's (ABBV) efforts to raise awareness and diagnosis" in woman's health market.
03/26/19
WBLR
03/26/19
UPGRADE
WBLR
Outperform
William Blair upgrades Vertex to Outperform after 'subpar' competitor data
William Blair analyst Y. Katherine Xu upgraded Vertex Pharmaceuticals (VRTX) to Outperform from Market Perform on expectations the company's cystic fibrosis franchise will continue dominating after Proteostasis (PTI) reported disappointing triplet data. Proteostasis' triplet efficacy falls short of the high bar set by the Vertex triples, Xu tells investors in a research note. While Proteostasis is starting a Phase II study of the triplet that would include a higher PTI-808 dose and test a longer duration aiming to optimize response with data out around year-end 2019, the chance of it matching or exceeding Vertex triple efficacy is "very low," contends the analyst. With both Galapagos (GLPG)/AbbVie (ABB) and Proteostasis having shown "subpar data," Xu is upgrading Vertex shares to Outperform and raised her fair value estimate for the shares to $222 from $178. The analyst maintains her high probability of success of a Vertex triple combo reaching the cystic fibrosis market at 90% and ascribe peak sales of $10.2B, up from $8.9 billion previously.
MO Altria Group
$54.70

-0.14 (-0.26%)

02/25/19
JEFF
02/25/19
INITIATION
JEFF
Underperform
Cronos Group initiated with an Underperform at Jefferies
Jefferies analyst Owen Bennett initiated coverage of nine cannabis stocks, stating that his base-case "conservative" assumption is that the cannabis industry can grow in size to over $50B by 2029 from $17B in 2019. He started Cronos Group (CRON) with an Underperform rating and C$17 price target, stating that "at present we feel there is little to get really excited about other than the investment and large sum of money" from Altria (MO). He thinks "the market has gotten ahead of itself" on Cronos as he questions when Altria value creation will begin to materialize, Bennett tells investors.
03/06/19
JEFF
03/06/19
NO CHANGE
JEFF
Gottlieb resignation positive for tobacco sentiment, says Jefferies
The resignation of FDA commissioner Scott Gottlieb is a net positive for tobacco sentiment, particularly for British American Tobacco (BTI) as it should lessen concerns related to any possible action around a menthol ban near term, Jefferies analyst Owen Bennett tells investors in a research note. A potential delay to guidelines around e-vapour restrictions could also support both British American and Imperial Brands (IMBBY), adds the analyst.
03/06/19
MSCO
03/06/19
NO CHANGE
MSCO
Resignation of Gottlieb lowers near-term overhang on Altria, says Morgan Stanley
Morgan Stanley analyst Pamela Kaufman said she expects a positive reaction in tobacco stocks to the news that FDA Commissioner Scott Gottlieb will resign in April as it likely delays the agency's near-term tobacco control objectives. Gottlieb has been very vocal on tobacco regulation and his resignation creates a vacuum in leadership and uncertainty about the agency's strategy for tobacco control until a new head is appointed, though leadership at the Center of Tobacco Products remains intact under Mitch Zeller, Kaufman tells investors. While his resignation reduces the near-term regulatory overhang on Altria (MO), it could be a "mixed bag for e-cigs," as Gottlieb changed his tone last year due to the youth e-cig epidemic but he had previously increased leniency towards the category when he pushed out the PMTA deadline to 2022 from 2018, added Kaufman.
03/05/19
COWN
03/05/19
INITIATION
COWN
Market Perform
Cronos Group initiated with a Market Perform at Cowen
Cowen analyst Vivien Azer started Cronos Group (CRON) with a Market Perform rating and C$29 price target. The analyst likes the company's story as an asset-light, global low-cost producer with operational support and invested capital from Altria Group (MO). However, Azer says the stock's current valuation prevents her from taking a more constructive position at this time.
UPS UPS
$114.39

0.79 (0.70%)

03/21/19
WELS
03/21/19
NO CHANGE
Target $220
WELS
Outperform
FedEx price target lowered to $220 from $285 at Wells Fargo
Wells Fargo analyst Casey Deak lowered her price target for FedEx (FDX) to $220 from $285 after the company reported "disappointing" Q3 results and a reduction in fiscal year guidance. Looking forward, the analyst sees continued stress on global airfreight and customer movement toward deferred services constraining margins. However, given the recent pressure on the shares and the growing market share in international markets, she believes the shares to be undervalued at this point of the cycle and expects the market to reflect a closer parity to UPS (UPS) multiples going forward. The analyst reiterates an Outperform rating on FedEx shares.
04/01/19
BREN
04/01/19
DOWNGRADE
BREN
Hold
FedEx downgraded to Hold from Buy at Berenberg
Berenberg analyst Joel Spungin downgraded FedEx (FDX) to Hold from Buy. The analyst's in-depth review of European parcel markets suggests FedEx's integration of TNT "has some way to go." Further, the company is exposed to some "lower-growth, more economically sensitive segments of the market than peers," Spungin tells investors in a research note. He believes a slowdown in international markets, "indigestion" from the TNT acquisition and higher costs in Ground mean FedEx's margin improvement "will take longer to come through." The analyst this morning also upgraded UPS (UPS) to Buy from Hold.
04/01/19
04/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UPS (UPS) upgraded to Buy from Hold at Berenberg with analyst Joel Spungin saying he is increasingly confident that UPS will deliver margin improvement in both its International business and the U.S. this year, following an in-depth review of European parcel markets. 2. AstraZeneca (AZN) upgraded to Outperform from Market Perform at Cowen with analyst Steve Scala saying the 5% stock decline on news of the company's partnership with Daiichi Sankyo for trastuzumab deruxtecan, which he calls a "promising" breast cancer drug, offers a compelling entry point. 3. Energizer (ENR) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Jason English saying he sees a credible path to top-tier EBIT, EBITDA and EPS growth over the next three years "fueled almost entirely" by debt-reduction and synergies from its recently completed deals for the Global Battery & Lighting business and Global Auto Care business of Spectrum Brands (SPB). 4. Anadarko (APC) resumed with a Buy from Neutral at Citi with analyst Robert Morris citing the stock's underperformance over the past three months and the company's recent success in the Delaware Basin for the upgrade. 5. F5 Networks (FFIV) upgraded to Buy from Neutral at Nomura Instinet with analyst Jeffrey Kvaal saying "long an out-of-favor name," F5 shares are now ~25% below their 2018 peak following the acquisition of Nginx. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/01/19
BREN
04/01/19
UPGRADE
Target $130
BREN
Buy
UPS upgraded to Buy from Hold at Berenberg
Berenberg analyst Joel Spungin upgraded UPS to Buy from Hold with a $130 price target. Following an in-depth review of European parcel markets, the analyst is increasingly confident that UPS will deliver margin improvement in both its International business and the U.S. this year. Its cash conversion remains strong and free cash flow guidance "looks too conservative," Spungin tells investors in a research note. He says UPS has built a strong presence in European business-to-business delivery.
BMY Bristol-Myers
$44.63

-0.69 (-1.52%)

04/01/19
UBSW
04/01/19
DOWNGRADE
Target $102
UBSW
Neutral
Celgene downgraded to Neutral from Buy at UBS
UBS analyst Carter Gould downgraded Celgene (CELG) to Neutral from Buy while raising his price target for the shares to $102 from $94. After ISS and Glass Lewis on Friday recommended that Bristol-Myers Squibb (BMY) shareholders vote in favor of the proposed acquisition, and Starboard dropped its proxy solicitation in opposition, the analyst sees an increasingly high probability that Bristol's acquisition of Celgene will be completed. He sees any lingering risks around antitrust concerns and Revlimid litigation as unlikely to derail the deal.
04/01/19
WBLR
04/01/19
DOWNGRADE
WBLR
Market Perform
Celgene downgraded to Market Perform from Outperform at William Blair
William Blair analyst Andy Hsieh downgraded Celgene (CELG) to Market Perform from Outperform saying the recent proxy recommendations set the course for the takeover by Bristol-Myers Squibb (BMY) winning shareholder approval.
04/02/19
BERN
04/02/19
DOWNGRADE
BERN
Market Perform
Celgene downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Aaron Gal downgraded Celgene (CELG) to Market Perform from Outperform as spread narrows. The analyst notes that the current controversy on Celgene is whether the Bristol-Myers (BMY) acquisition will close. With limited upside, no differentiated views on the main controversy, and ahead of the shareholder vote on April 12th, the analyst is moving to the sidelines.
04/05/19
CANT
04/05/19
DOWNGRADE
Target $100
CANT
Neutral
Cantor sees Bristol deal closing, downgrades Celgene to Neutral
Cantor Fitzgerald analyst Alethia Young downgraded Celgene (CELG) to Neutral from Overweight with an unchanged price target of $100. The analyst expects the takeover by Bristol-Myers (BMY) to close.
RTN Raytheon
$185.44

-2.08 (-1.11%)

01/10/19
01/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ship Finance (SFL) initiated with a Neutral at B. Riley FBR. 2. Wipro (WIT) initiated with a Hold at Deutsche Bank. 3. Boeing (BA), Lockheed Martin (LMT), and Raytheon (RTN) were initiated with a Positive at Susquehanna while Northrop Grumman (NOC) and General Dynamics (GD) were initiated with a Neutral. 4. Dollar General (DG) initiated with an Outperform at BMO Capital while Dollar Tree (DLTR) was initiated with a Market Perform. 5. Verint (VRNT) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/19
SUSQ
01/10/19
INITIATION
Target $187
SUSQ
Positive
Raytheon initiated with a Positive at Susquehanna
Susquehanna analyst Charles Minervino initiated Raytheon with a Positive rating as he likes the company's strategic positioning in the industry. It has a high level of international leverage, missile and missile defense exposure, and technological solutions that tap into both governmental and commercial markets, said Minervino, who has a $187 price target on Raytheon shares.
04/03/19
UBSW
04/03/19
DOWNGRADE
Target $200
UBSW
Neutral
Raytheon downgraded to Neutral from Buy at UBS
UBS analyst Myles Walton downgraded Raytheon to Neutral from Buy and lowered his price target for the shares to $200 from $220. The stock's relative valuation "is no longer compelling" given the company's 150 basis points below average free cash flow yield for 2019 and 20 basis points below average for 202, Walton tells investors in a research note. The analyst notes Raytheon has outperformed the large-cap defense average by about 900 basis points year-to-date.
12/11/18
MSCO
12/11/18
NO CHANGE
MSCO
Morgan Stanley sees further room for Defense stocks to advance
Morgan Stanley analyst Rajeev Lalwani said he is constructive on Defense stocks following yesterday's 4% move up, noting that budgets now appear to be on a better track and point to growth again. Defense stocks have recently performed poorly, consistent with other Industrial sectors, he points out, adding that he thinks the sector should do well in a period of economic uncertainty. In terms of individual names, Lalwani said his preference remains Raytheon (RTN) and Lockheed Martin (LMT), on which he has Overweight ratings. He maintains an Underweight rating on General Dynamics (GD). Other publicly traded companies in the Defense space include BAE Systems (BAESY), Boeing (BA), Northrop Grumman (NOC), and United Technologies (UTX).
ITW Illinois Tool Works
$156.78

-1.14 (-0.72%)

02/05/19
02/05/19
DOWNGRADE

Underperform
Illinois Tool Works downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded Illinois Tool Works to Underperform from Neutral and reduced its price target to $124 from $128. Analyst Ross Gilardi said the Q4 report was not overly inspiring and expects shares to lag as the company struggles with organic growth.
02/05/19
BOFA
02/05/19
DOWNGRADE
BOFA
Underperform
Illinois Tool Works downgraded to Underperform from Neutral at BofA/Merrill
02/04/19
ARGS
02/04/19
NO CHANGE
Target $145
ARGS
Buy
Illinois Tool Works weakness offers buying opportunity, says Argus
Argus analyst John Eade kept his Buy rating and $145 price target on Illinois Tool Works, saying the stock's recent weakness offers a buying opportunity. The analyst notes that in prior instances of the company's underperformance relative to the broad market, shares have typically bounced back. Eade also points to the management's recent 28% dividend hike, signalling its confidence in business conditions, and believes that Illinois Tool Works is on track to deliver low single-digit sales growth and margin expansion over the long term.
01/14/19
01/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Delta Air Lines (DAL) downgraded to Neutral from Buy at BofA/Merrill with analyst Andrew Didora saying his Flight Indicator data analysis suggests a "deceleration in domestic PRASM" in the first half of the year, coupled with other slowing demand indicators that include "weak ISM survey, declining CEO Confidence, airline pricing growth off highs, currency headwind, and government shutdown." 2. Illinois Tool Works (ITW) downgraded to Neutral from Buy at Citi with analyst Andrew Kaplowtiz saying the company's "overexposure" to "slowing" Europe is a risk. 3. Chevron (CVX) downgraded to Hold from Buy at HSBC with analyst Gordon Gray saying the scale of U.S. supply, and its responsiveness to any significant hike in price, will likely limit the price upside for crude. 4. Arconic (ARNC) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Gambardella citing valuation. 5. XPO Logistics (XPO) downgraded to Sector Weight from Overweight at KeyBanc with analyst Todd Fowler citing his view that the big and bulky final mile market is increasingly competitive, along with ongoing uncertainty around European end markets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BAX Baxter
$76.31

-0.02 (-0.03%)

04/08/19
EVER
04/08/19
DOWNGRADE
EVER
In Line
Baxter downgraded to In Line from Outperform at Evercore ISI
04/03/19
WELS
04/03/19
NO CHANGE
Target $89
WELS
Outperform
Baxter price target raised to $89 from $80 at Wells Fargo
Wells Fargo analyst Larry Biegelsen raised his price target for Baxter to $89 from $80 as he believes the company has a "robust near-term pipeline" that will produce a number of important launches in late 2019 through 2020 to help accelerate sales growth from 2020 to 2023. The analyst reiterates an Outperform rating on the shares.
02/01/19
02/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Technologies (UTX) upgraded to Conviction Buy from Buy at Goldman Sachs. 2. Eldorado Gold (EGO) upgraded to Outperform from Sector Perform at National Bank and to Outperform from Market Perform at BMO Capital. 3. Baxter (BAX) upgraded to Equal Weight from Underweight at Barclays with analyst Kristen Stewart saying over the past three months, expectations for the company have been reset, making a neutral rating more appropriate. The analyst also raised her price target for the shares to $72 from $67. 4. Cooper Companies (COO) upgraded to Overweight from Equal Weight at Stephens with analyst Chris Cooley saying he believes that the company is positioned to boost its earnings guidance, citing a stronger growth of its single-use daily SiH contact lens sales, above-forecast Paragard sales, and more modest FX-related headwinds than previously anticipated. 5. Allegiant Travel (ALGT) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying he views the shares as attractive after the company's fiscal 2019 earnings outlook came in well ahead of his 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.
04/08/19
04/08/19
DOWNGRADE
Target $84

In Line
Baxter downgraded to In Line on valuation at Evercore ISI
As previously reported, Evercore ISI downgraded Baxter to In Line from Outperform with an $84 price target. Analyst Vijay Kumar views valuation as "fair at current levels" following multi-year outperformance.
VLO Valero
$87.75

-2.53 (-2.80%)

03/25/19
FBCO
03/25/19
NO CHANGE
Target $105
FBCO
Outperform
Valero added to Top Picks list at Credit Suisse
Credit Suisse analyst Manav Gupta added Valero to his firm's Top Picks list as he sees the company best positioned to benefit from a rebound in refining cracks. In the near/medium term, the analyst believes unplanned downtime at peers, startup of multiple Permian pipes, Canada adding rail capacity to GC, and higher distillate margins driven by IMO 2020 should all act as catalyst for Valero. Longer term, the new Coker project and DGT add meaningful earnings upside, he contends. Gupta reiterates an Outperform rating and a $105 price target on the shares.
03/08/19
WOLF
03/08/19
UPGRADE
WOLF
Outperform
Valero upgraded to Outperform from Peer Perform at Wolfe Research
02/21/19
STPT
02/21/19
DOWNGRADE
STPT
Hold
Valero downgraded to Hold from Buy at Standpoint Research
01/25/19
GSCO
01/25/19
UPGRADE
Target $84
GSCO
Neutral
Valero upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Neil Mehta upgraded Valero Energy to Neutral and raised his price target for the shares to $84 from $72. The analyst is more positive on the shares given the company's free cash flow and he sees a more balanced risk/reward following the recent underperformance.
LUV Southwest
$52.92

0.11 (0.21%)

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).
04/08/19
04/08/19
DOWNGRADE

Market Perform
Southwest downgraded to Market Perform at Raymond James on 737 MAX grounding
As previously reported, Raymond James analyst Savanthi Syth downgraded Southwest Airlines (LUV) to Market Perform from Outperform and pulled her $60 price target citing expectations of near term earnings risk due to the grounding of Boeing's (BA) 737 MAX fleet. The analyst expects that risk to be extended into the summer months while also noting additional pressure on the airline in 2019 coming from the mechanics' union dispute. Longer term, Syth maintains a positive outlook on the company given its "ability to maintain its superior margins, free cash flow profile, and low leverage while capitalizing on technology catch-up and international growth opportunities."
04/08/19
RAJA
04/08/19
DOWNGRADE
RAJA
Market Perform
Southwest downgraded to Market Perform from Outperform at Raymond James
03/28/19
FBCO
03/28/19
NO CHANGE
Target $50
FBCO
Neutral
Southwest price target lowered to $50 from $56 at Credit Suisse
Credit Suisse analyst Jose Caiado De Sousa lowered his price target for Southwest to $50 from $56 following the company's Q1 guidance cut, which was widely expected by investors. Given the negative near-term fundamental outlook for this otherwise "high quality" airline stock, the analyst reiterates a Neutral rating as he awaits cost execution in the second half of the year, as well as greater detail regarding Southwest's unspecified revenue initiatives for 2020.
HSY Hershey
$117.01

0.16 (0.14%)

10/30/18
FBCO
10/30/18
UPGRADE
FBCO
Neutral
Hershey upgraded to Neutral from Underperform at Credit Suisse
10/30/18
10/30/18
UPGRADE
Target $104

Neutral
Hershey upgraded to Neutral as investments begin to pay off at Credit Suisse
As previously reported, Credit Suisse analyst Robert Moskow upgraded Hershey to Neutral from Underperform and raised his price target on the shares to $104 from $85. The analyst notes that the company has done a better job than he expected of stabilizing its sales trends with investments in packaging, e-commerce, manufacturing capacity, and its new snacking platform. In addition, the consumer shift to online grocery shopping is moving slower than he expected, thus giving Hershey some time to adjust to declining impulse purchase occasions at traditional checkout aisles, Moskow contends.
12/19/18
BOFA
12/19/18
UPGRADE
BOFA
Buy
Hershey upgraded to Buy from Neutral at BofA/Merrill
12/19/18
BOFA
12/19/18
UPGRADE
Target $120
BOFA
Buy
Hershey upgraded two notches to Buy from Underperform at BofA/Merrill
As reported earlier, BofA/Merrill analyst Bryan Spillane upgraded Hershey by two rating notches to Buy from Underperform and raised his price target to $120 from $92, saying the company should generate improved organic sales and operating profit growth in FY19 based on the investments it made in the past two years. The analyst also cites Hershey's strong balance sheet and cash flows, which he anticipates driving a 10% annual total shareholder return. Spillane further notes that Hershey typically trades at a premium when the market turns more defensive.
ROK Rockwell Automation
$188.97

-0.405 (-0.21%)

03/20/19
UBSW
03/20/19
DOWNGRADE
Target $190
UBSW
Neutral
Rockwell Automation downgraded to Neutral from Buy at UBS
UBS analyst Peter Lennox-King downgraded Rockwell Automation to Neutral from Buy while raising his price target for the shares to $190 from $182. The analyst sees a balanced risk/reward profile given the company's "decelerating growth outlook." He believes decelerating industrial production activity will flow through to Rockwell's organic growth and earnings.
04/10/19
KEYB
04/10/19
INITIATION
Target $111
KEYB
Overweight
PTC resumed with an Overweight at KeyBanc
KeyBanc analyst Jason Celino resumed coverage of PTC (PTC) with an Overweight rating and a $111 price target. The analyst believes the company has several upside drivers to watch, and continues to benefit from model transition tailwinds. His resellers checks add confidence that Rockwell (ROK) and Ansys (ANSS) partnerships present catalysts for IoT growth and the core business, which could be beginning to ramp.
02/28/19
JPMS
02/28/19
NO CHANGE
JPMS
JPMorgan's Tusa recommends long Emerson, short Rockwell pair trade
JPMorgan analyst Stephen Tusa recommends an automation pair trade of long Emerson (EMR), short Rockwell Automation (ROK). While fundamentals across the automation industry "remain relatively solid for now," the analyst sees potential for "material divergence" between these names as an opportunity, and he favors Emerson. Following the failed bid for Rockwell, Emerson's plans for share gain within marginal discrete markets should allow it to outperform "here from a low base, potentially at the expense" of Rockwell, Tusa tells investors in a research note.
03/20/19
03/20/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Monster Beverage (MNST) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Judy Hong saying the company's U.S. sales could remain softer than expected in the near term, driving downward estimate revisions. 2. FedEx (FDX) downgraded to Neutral from Overweight at JPMorgan with analyst Brian Ossenbeck noting FedEx's outlook was lowered more than expected as legacy Express leverage to a strong airfreight market was muted and the full TNT integration remains a second half of 2020 event. 3. Rockwell Automation (ROK) downgraded to Neutral from Buy at UBS with analyst Peter Lennox-King seeing a balanced risk/reward profile given the company's "decelerating growth outlook." 4. Teradata (TDC) downgraded to Sell from Neutral at Citi with analyst Tyler Radke saying shares are up over 20% since the company preannounced a strong Q4, but the quarter benefitted from one-offs. 5. Envestnet (ENV) downgraded to Neutral from Buy at DA Davidson with analyst Peter Heckmann noting the rebound in shares has taken valuation on the stock to more fair levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
HES Hess Corp.
$65.79

-1.67 (-2.48%)

04/16/19
MKMP
04/16/19
DOWNGRADE
MKMP
Neutral
Hess Corp. downgraded to Neutral from Buy at MKM Partners
04/16/19
MKMP
04/16/19
DOWNGRADE
MKMP
EOG Resources, Hess, EQT Corp cut to Neutral at MKM Partners on valuation
As previously reported, MKM Partners analyst John Gerdes has downgraded EOG Resources (EOG), EQT Corp (EQT) and Hess Corp (HES) from Buy to Neutral on valuation after their respective 17%, 14%, and 62% year-to-date gains relative to the 14% appreciation of the Oil/Gas Exploration & Production ETF (XOP). The analyst notes that all 3 now reflect below 10% of his expected intrinsic upside value relative to his net present value-derived estimates. As part of his broader research note, Gerdes has also raised his 2019 Brent crude oil price forecast by $9 to $66 and his 2020 forecast by $2.50 to $64.50. The analyst adds that the capital intensity in the industry has been "stable" and remains 35% below 2014 cyclical peak while the cost structure is 35% below the 2014 peak.
01/29/19
SPHN
01/29/19
DOWNGRADE
Target $69
SPHN
Equal Weight
Hess Corp. downgraded to Equal Weight on valuation at Stephens
As previously reported, Stephens analyst Gail Nicholson downgraded Hess Corp. (HES) to Equal Weight from Overweight on valuation after the stock has outperformed the SPDR Oil Exploration and Production Fund (XOP) by over 12% year-to-date. The stock's EV/EBITDA multiple is currently highest in her coverage and significantly above the group median, noted Nicholson, who lowered her price target on Hess shares to $69 from $77 to account for her revised commodity forecast.
01/29/19
SPHN
01/29/19
DOWNGRADE
SPHN
Equal Weight
Hess Corp. downgraded to Equal Weight from Overweight at Stephens
FCX Freeport McMoRan
$13.57

0.115 (0.85%)

03/25/19
JEFF
03/25/19
NO CHANGE
Target $18
JEFF
Buy
Jefferies sees 'significant trapped value' in shares of Freeport McMoRan
Jefferies analyst Christopher LaFemina says that over a two-plus year horizon, he sees "significant trapped value" within Freeport McMoRan that could be unlocked via a break-up or an acquisition of the company. In the shorter term, though, the Freeport investment case depends on two factors - the copper price, which should go higher, and the company's transition to its underground at Grasberg, LaFemina tells investors in a research note. He believes a successful transition at Grasberg "is critical but will be challenging." The analyst estimates Freeport's fair value to be $16.98 per share on a sum-of-the-parts basis. He keeps a Buy rating on the shares with an $18 price target.
02/19/19
02/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from Neutral at Macquarie with analyst Caroline Levy saying new CEO Ramon Laguarta "moved decisively" to reset for sustained 4%-6% sales growth by stepping up marketing and capital spending. 4. Freeport McMoRan (FCX) upgraded to Buy from Neutral at Citi while Southern Copper (SCCO) was double upgraded to Buy from Sell. 5. Cosan (CZZ) upgraded to Overweight from Neutral at JPMorgan with analyst Lucas Ferreira saying the shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/19/19
SBSH
02/19/19
UPGRADE
Target $16
SBSH
Buy
Freeport McMoRan upgraded to Buy from Neutral at Citi
Citi analyst Alexander Hacking upgraded Freeport McMoRan (FCX) to Buy with a $16 price target. The analyst cites his firm's more constructive cooper market backdrop for the upgrade. Citi's global commodity team is bullish on copper, noting that exchange inventory is at 10 year lows and Chinese weakness appears to be turning, Hacking tells investors in a research note. The analyst believes copper equities have "significant rebound potential" with the stocks down 30%-40% year-to-date. Hacking this morning also double upgraded Southern Copper (SCCO) to Buy from Sell.
02/13/19
02/13/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Piyush Sood saying his firm's Metals & Mining team expects copper market tightness to emerge beginning in Q2, given falling global production, low visible inventories and improved demand from China and Freeport's earnings sensitivity to copper is still the highest among its peers. 2. DocuSign (DOCU) upgraded to Buy from Hold at Deutsche Bank with analyst Karl Keirstead saying that after speaking with four large e-signature customers, three using DocuSign and one using Adobe Sign, the analyst believes a "more constructive call on DocuSign shares is now warranted." 3. Bloom Energy (BE) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying shares are down about 36% since the IPO in July 2018, including a 24% drop since mid-January, the latter due in large part to selling pressure following lockup expiration. 4. Shopify (SHOP) upgraded to Outperform from Sector Perform at RBC Capital with analyst Ross MacMillan saying he anticipates the company to return to new merchant growth this year given its international opportunity and easier comps. 5. Myovant Sciences (MYOV) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying his firm's women's health survey suggests a "robust potential market" for new treatment options for endometriosis and uterine fibroids. The analyst also raised his price target for the shares to $25 from $22. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
IP International Paper
$44.30

-0.37 (-0.83%)

04/05/19
04/05/19
DOWNGRADE
Target $47

Sector Perform
International Paper cut to Sector Perform at RBC Capital on market conditions
As previously reported, RBC Capital analyst Paul Quinn downgraded International Paper to Sector Perform from Outperform and lowered his price target to $47 from $54. The analyst notes that 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. Quinn sees the slowdown constraining packaging sector valuations with little market benefit coming from UFS capacity cuts.
04/16/19
BOFA
04/16/19
DOWNGRADE
BOFA
Neutral
International Paper downgraded to Neutral from Buy at BofA/Merrill
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.
04/16/19
BOFA
04/16/19
DOWNGRADE
BOFA
Neutral
International Paper, Packaging Corp. downgraded to Neutral at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst George Staphos downgraded International Paper (IP) and Packaging Corp. (PKG), each to Neutral from Buy, following "disappointing" March containerboard industry data points reported today. Box shipments were down a "surprising" 3.0% year-over-year and inventories declined 47,000 tons, said Staphos, who believes the industry needs to drop inventories 400-500K tons between February and June to get back into balance. The analyst, who now anticipates an increased likelihood of another price cut during Q2, lowered his price target on International Paper shares to $50 from $53, cut his price target on Packaging Corp. to $107 from $112 and lowered his price target on WestRock (WRK) to $41 from $43.
DHI D.R. Horton
$46.67

0.275 (0.59%)

04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
D.R. Horton downgraded to Neutral from Positive at Susquehanna
04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
Susquehanna downgrades D.R. Horton, Lennar, TRI Pointe in homebuilder shuffle
As previously reported, Susquehanna analyst Jack Micenko downgraded homebuilders D.R. Horton (DHI), Lennar (LEN) and TRI Pointe (TPH), all to Neutral from Positive, stating that he is "taking money off the table" after a period of solid performance from the group and not making a call into the quarter. After visiting 200+ communities, he thinks 2019 has "evolved into a classic spring season for both demand and the stocks," noting that homebuilders' spring trade is typically characterized by a period of underperformance. He lowered his price target on D.R. Horton shares to $46 from $49, cut his target on Lennar to $57 from $64 and lowered his target on TRI Pointe to $14 from $16.
04/22/19
KBWI
04/22/19
DOWNGRADE
Target $47
KBWI
Market Perform
D.R. Horton downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Jade Rahmani downgraded D.R. Horton to Market Perform from Outperform with an unchanged price target of $47. The analyst cites valuation for the downgrade with the shares nearing her price target.
04/22/19
04/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Underperform from In Line at Evercore ISI with analyst Arndt Ellinghorst citing his more cautious view on demand for its vehicles, in particular the recent "severe decline" in demand for the Model S and Model X. 2. Schlumberger (SLB) downgraded to Sell from Hold at Tudor Pickering. 3. Dunkin' Brands (DNKN) downgraded to Hold from Buy at Maxim. 4. D.R. Horton (DHI) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Jade Rahmani citing valuation. 5. Occidental Petroleum (OXY) downgraded to Neutral from Buy at Mizuho with analyst Paul Sankey saying reports of Occidental bidding for Anadarko (APC) are "well outside" his "prior understanding of company strategy." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TSCO Tractor Supply
$104.09

0.88 (0.85%)

03/21/19
GDHS
03/21/19
NO CHANGE
GDHS
Gordon Haskett shakes up retailer rankings with six upgrades, three downgrades
Gordon Haskett analysts Chuck Grom, John Park and Andrew Minora have recalibrated their ratings in broadline and hardline retail with the Q4 earnings season nearly complete, stating that holiday results were mixed with clear winners and losers and that year-to-date sales have been "extremely choppy." The firm's latest macro/consumer survey results suggest that some optimism has resurfaced and they see a scenario where there is a release of significant pent-up demand for the retail group. Within the context of a portfolio approach to the space, the analysts upgraded Target (TGT), Tractor Supply (TSCO), Dollar Tree (DLTR), BJ's Wholesale (BJ) to Buy from Accumulate, upgraded Wayfair (W) and Floor & Decor (FND) to Accumulate from Hold, and downgrade Nordstrom (JWN) and Sprouts Farmers Market (SFM) to Reduce from Hold. The analysts also downgraded Pier 1 Imports (PIR) to Underperform from Hold.
04/18/19
WELS
04/18/19
NO CHANGE
Target $114
WELS
Outperform
Tractor Supply price target raised to $114 from $108 at Wells Fargo
Wells Fargo analyst Zachary Fadem raised his price target for Tractor Supply to $114 from $108 as he anticipates modest Q1 upside for and sees plenty of 2019 catalysts left to play for. The analyst reiterates an Outperform rating on the shares.
04/11/19
PIPR
04/11/19
NO CHANGE
Target $114
PIPR
Overweight
Tractor Supply price target raised to $114 from $102 at Piper Jaffray
Piper Jaffray analyst Peter Keith raised his price target for Tractor Supply to $114 from $102 following his Q1 farm and ranch retailer survey. Enhanced financing now looks like a "significant" multi-year comp driver and retailer comments are bullish on the company's Q2 outlook, Keith tells investors in a research note. Further, the analyst continues to see a "healthy" margin expansion opportunity through at least 2020 for Tractor Supply as its investment activity normalizes and comps remain "strong." Keith reiterates an Overweight rating on the shares.
04/15/19
LOOP
04/15/19
NO CHANGE
Target $106
LOOP
Hold
Tractor Supply price target raised to $106 from $84 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on Tractor Supply to $106 ahead of its Q1 earnings next week, citing the improvement in investor sentiment on the overall retail sector along with the company's "clear market leadership and strong free cash flow". The analyst is keeping his Hold rating on Tractor Supply shares however, stating that the "upside potential and downside risk are fairly balanced" for the stock at current levels.
MAS Masco
$39.98

-0.02 (-0.05%)

03/04/19
NOMU
03/04/19
NO CHANGE
Target $50
NOMU
Buy
Masco price target raised to $50 from $39 at Nomura Instinet
Nomura Instinet analyst Michael Wood raised his price target for Masco to $50 after the company announced that it intends to explore strategic alternatives for its Cabinets and Windows businesses. This is a logical next step from the company's multiyear turnaround effort, Wood tells investors in a research note. He keeps a Buy rating on Masco.
03/11/19
JEFF
03/11/19
NO CHANGE
JEFF
Jefferies upgrades Materials sector to Market Weight from Underweight
Jefferies analyst Steven DeSanctis upgraded the Materials sector to Market Weight from Underweight citing early signs of "green shoots" in China, a turn in the inventory cycle, and housing data that "does not look as bad as the stocks reflected in 2018." The analyst says Jefferies likes industries associated with housing and would be selective in Metals & Mining. The firm is Overweight Technology, Discretionary, Industrials and Energy.
03/14/19
RHCO
03/14/19
NO CHANGE
Target $52
RHCO
Buy
Masco price target raised to $52 from $48 at SunTrust
SunTrust analyst Keith Hughes raised his price target on Masco to $52 and kept his Buy rating, saying its announcement to explore strategic alternatives for its lower-margin Cabinet and Window units could raise valuation multiples on the stock. The analyst cites the company's Plumbing and Paint divisions showing "consistently higher margins versus peers" with limited volatility even during the great recession.
03/05/19
JEFF
03/05/19
NO CHANGE
Target $46
JEFF
Buy
Masco could unlock value with sale of Windows and Cabs, says Jefferies
Jefferies analyst Philip Ng believes an asset sale or spin of Masco's Windows and Cabs businesses could unlock shareholder value. While there could be some interested strategic buyers, leverage and timing are real deterrents, which makes private equity the most likely acquirer, Ng tells investors in a research note. After tweaking his sum-of-the-parts and asset sale analysis, the analyst still sees scenarios that could yield 16% upside. Ng raised his price target for Masco to $46 from $43 and keeps a Buy rating on the shares.
IVZ Invesco
$21.53

-0.09 (-0.42%)

01/14/19
FBCO
01/14/19
NO CHANGE
Target $21
FBCO
Neutral
Invesco price target lowered to $21 from $27 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler lowered his price target for Invesco to $21 from $27 ahead of quarterly results. The analyst reiterates a Neutral rating on the shares.
01/31/19
LEHM
01/31/19
DOWNGRADE
Target $19
LEHM
Equal Weight
Invesco downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Jeremy Campbell downgraded Invesco to Equal Weight with an unchanged price target of $19.
04/11/19
EDJN
04/11/19
DOWNGRADE
EDJN
Hold
Invesco downgraded to Hold from Buy at Edward Jones
01/31/19
LEHM
01/31/19
DOWNGRADE
Target $19
LEHM
Equal Weight
Barclays downgrades Invesco on delayed deal synergy catalyst
Barclays analyst Jeremy Campbell downgraded Invesco to Equal Weight from Overweight with an unchanged price target of $18. With the OppenheimerFunds deal closure delayed until end of Q2, upside potential to Invesco shares on better than expected synergy execution now seems a second half of 2019 catalyst "at best," Campbell tells investors in a research note. The analyst recommends not taking the "large downside Beta risk in the stock should the market remain weak."
CLF Cleveland-Cliffs
$9.52

0.025 (0.26%)

02/11/19
JPMS
02/11/19
NO CHANGE
Target $17
JPMS
Overweight
Cleveland-Cliffs price target raised to $17 from $15 at JPMorgan
JPMorgan analyst Michael Gambardella raised his price target for Cleveland-Cliffs to $17 saying the shares do not fully reflect the benefits of elevated prices or the company's commercial initiatives. Cleveland-Cliffs should continue to post strong results in 2019 as rising iron ore prices and pellet premiums should roughly offset the impact of falling steel prices and keep the company's average realized price relatively stable year-over-year, Gambardella tells investors in a research note. Further, the HBI project scheduled to start production in the summer of 2020 will benefit Cleveland-Cliffs by allowing it to tap into the growing minimill market and further tighten supplies of pellets going to blast furnaces, adds the analyst. He keeps an Overweight rating on the shares.
02/08/19
JEFF
02/08/19
NO CHANGE
JEFF
Cleveland-Cliffs price target raised to $13.75 from $11.50 at Jefferies
Jefferies analyst Seth Rosenfeld reiterated a Buy rating on Cleveland-Cliffs, and raised his price target to $13.75 from $11.50, after the company's Q4 earnings report. While the analyst noted that the results "disappointed," the company's "leverage to the reflating steel, iron ore and pellet markets continues to impress." Rosenfeld added that "with a near stranglehold on regional pellet supply," Cleveland-Cliffs "should secure improved contract terms post-2020 as supply tightens."
02/08/19
SBSH
02/08/19
NO CHANGE
Target $13
SBSH
Buy
Cleveland-Cliffs price target raised to $13 from $10 at Citi
Citi analyst Alexander Hacking raised his price target for Cleveland-Cliffs to $13 to reflect his firm's higher iron ore price forecasts. Cleveland-Cliffs is expected to generate "materially higher" free cash flow in 2019 through 2022, Hacking tells investors in a research note. He keeps a Buy rating on the shares.
01/22/19
JEFF
01/22/19
DOWNGRADE
Target $24
JEFF
Hold
Jefferies downgrades U.S. Steel to Hold on guidance risk
Jefferies analyst Seth Rosenfeld downgraded U.S. Steel to Hold from Buy and lowered his price target for the shares to $24 from $38. "Poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness, Rosenfeld tells investors in a research note. The analyst, while remaining "constructive" on the broader Steel sector, downgraded U.S. Steel to reflect guidance risk and "increasingly challenged" long-term prospects. With both U.S. and European flat steel margins drifting lower, drivers for a "meaningful recovery" at the company are "hard to identify," says the analyst. As such, he believes U.S. Steel's 2019 EBITDA guidance risks disappointing consensus expectations. Rosenfeld's top picks in the U.S. are Nucor (NUE), Commercial Metals (CMC), Steel Dynamics (STLD), Reliance Steel (RS) and Cleveland-Cliffs (CLF).

TODAY'S FREE FLY STORIES

UBER

Uber

$41.40

0.94 (2.32%)

17:49
05/24/19
05/24
17:49
05/24/19
17:49
Hot Stocks
Uber board director Ryan Graves intends to resign »

According to a regulatory…

03/08/13
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  • 30

    May

APTO

Aptose Biosciences

$2.01

0.03 (1.52%)

17:46
05/24/19
05/24
17:46
05/24/19
17:46
Syndicate
Aptose Biosciences files for $40M at-the-market common stock offering »

Piper Jaffray and…

03/08/13
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  • 04

    Jun

TRNX

Taronis Technologies

$0.48

0.004 (0.84%)

17:26
05/24/19
05/24
17:26
05/24/19
17:26
Syndicate
Breaking Syndicate news story on Taronis Technologies »

Taronis Technologies…

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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

17:25
05/24/19
05/24
17:25
05/24/19
17:25
Hot Stocks
U.S. Energy discloses Nasdaq notice regarding delayed 10-Q filing »

U.S. Energy announced…

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AAPL

Apple

$179.03

-0.64 (-0.36%)

17:22
05/24/19
05/24
17:22
05/24/19
17:22
Periodicals
Apple sued over allegedly selling users' iTunes data, Bloomberg says »

Apple is being sued by…

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  • 03

    Jun

SPCB

SuperCom

$1.17

-0.005 (-0.43%)

17:21
05/24/19
05/24
17:21
05/24/19
17:21
Hot Stocks
SuperCom discloses Nasdaq notice regarding delayed 20-F filing »

SuperCom received a…

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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

17:20
05/24/19
05/24
17:20
05/24/19
17:20
Hot Stocks
U.S. Energy receives noncompliance notice from Nasdaq »

U.S. Energy announced…

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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

17:18
05/24/19
05/24
17:18
05/24/19
17:18
Syndicate
Breaking Syndicate news story on Myovant Sciences »

Myovant Sciences files to…

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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

17:17
05/24/19
05/24
17:17
05/24/19
17:17
Syndicate
Breaking Syndicate news story on Myovant Sciences »

Myovant Sciences files…

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NVS

Novartis

$87.49

3.03 (3.59%)

, QGEN

Qiagen

$38.22

-0.255 (-0.66%)

16:57
05/24/19
05/24
16:57
05/24/19
16:57
Hot Stocks
Qiagen launches diagnostic for PIK3CA biomarkers in breast cancer »

Qiagen (QGEN) announced…

NVS

Novartis

$87.49

3.03 (3.59%)

QGEN

Qiagen

$38.22

-0.255 (-0.66%)

03/08/13
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03/06/13
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  • 24

    May

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  • 20

    Jun

  • 06

    Aug

AVH

Avianca

$3.96

0.91 (29.84%)

16:56
05/24/19
05/24
16:56
05/24/19
16:56
Periodicals
ANAC suspends flights, operations of Avianca Brasil, Reuters reports »

Brazil's ANAC said…

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AAPL

Apple

$179.03

-0.64 (-0.36%)

16:53
05/24/19
05/24
16:53
05/24/19
16:53
Periodicals
Apple acquires startup Tueo Health, CNBC reports »

Apple has bought Tueo…

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  • 03

    Jun

SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

16:52
05/24/19
05/24
16:52
05/24/19
16:52
Syndicate
Breaking Syndicate news story on SharpSpring »

SharpSpring files to sell…

03/08/13
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  • 13

    Jun

CREG

China Recycling Energy

$0.48

0.005 (1.05%)

16:41
05/24/19
05/24
16:41
05/24/19
16:41
Syndicate
Breaking Syndicate news story on China Recycling Energy »

China Recycling Energy…

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FENC

Fennec

$3.88

(0.00%)

16:36
05/24/19
05/24
16:36
05/24/19
16:36
Conference/Events
Fennec management to meet with Wedbush »

Meeting to be held in…

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  • 29

    May

  • 18

    Jun

TD

Toronto-Dominion

$56.66

0.65 (1.16%)

16:35
05/24/19
05/24
16:35
05/24/19
16:35
Syndicate
Breaking Syndicate news story on Toronto-Dominion »

Toronto-Dominion files…

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16:30
05/24/19
05/24
16:30
05/24/19
16:30
Options
Preliminary option volume of 15.7M today »

Preliminary option volume…

CBUS

Cibus

$0.00

(0.00%)

16:25
05/24/19
05/24
16:25
05/24/19
16:25
Syndicate
Cibus requests withdrawal of registration statement »

The company's…

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BA

Boeing

$355.14

4.57 (1.30%)

16:23
05/24/19
05/24
16:23
05/24/19
16:23
Periodicals
Boeing 737 MAX return delayed by FAA expanding review, WSJ reports »

A review of Boeing's…

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  • 29

    May

  • 05

    Jun

FB

Facebook

$181.03

0.14 (0.08%)

, BA

Boeing

$355.14

4.57 (1.30%)

16:20
05/24/19
05/24
16:20
05/24/19
16:20
On The Fly
Fly Intel: Wall Street's top stories for Friday »

U.S. stocks, which had a…

FB

Facebook

$181.03

0.14 (0.08%)

BA

Boeing

$355.14

4.57 (1.30%)

UAL

United Continental

$80.77

-0.14 (-0.17%)

SMI

SMIC

$5.23

-0.26 (-4.74%)

HPQ

HP Inc.

$20.03

0.835 (4.35%)

HPE

HP Enterprise

$14.36

0.03 (0.21%)

NVS

Novartis

$87.49

3.03 (3.59%)

CNC

Centene

$56.84

1.39 (2.51%)

WCG

WellCare

$275.45

0.99 (0.36%)

TSS

TSYS

$113.42

13.81 (13.86%)

GPN

Global Payments

$153.42

5.45 (3.68%)

HIBB

Hibbett Sports

$23.91

4.07 (20.51%)

DVAX

Dynavax

$5.77

-0.59 (-9.28%)

FL

Foot Locker

$44.39

-8.455 (-16.00%)

SPLK

Splunk

$119.13

-9.55 (-7.42%)

03/08/13
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  • 24

    May

  • 24

    May

  • 29

    May

  • 30

    May

  • 30

    May

  • 30

    May

  • 31

    May

  • 03

    Jun

  • 05

    Jun

  • 05

    Jun

  • 05

    Jun

  • 06

    Jun

  • 07

    Jun

  • 08

    Jun

  • 09

    Jun

  • 10

    Jun

  • 13

    Jun

  • 14

    Jun

  • 24

    Jun

  • 24

    Jun

  • 09

    Jul

  • 09

    Jul

  • 23

    Jul

  • 13

    Nov

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
05/24/19
05/24
16:20
05/24/19
16:20
Options
Closing CBOE SPX and VIX Index summary for May 24th »

The CBOE Volatility Index…

03/08/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
05/24/19
05/24
16:17
05/24/19
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
05/24/19
05/24
16:16
05/24/19
16:16
Technical Analysis
NYSE market internals summary »

Volume was below average…

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03/06/13
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RHE

Regional Health Properties

$2.06

0.09 (4.57%)

16:15
05/24/19
05/24
16:15
05/24/19
16:15
Hot Stocks
Regional Health Properties receives NYSE notice over late Form 10-Q filing »

Regional Health…

03/08/13
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03/06/13
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TBIO

Translate Bio

$9.12

-0.09 (-0.98%)

16:14
05/24/19
05/24
16:14
05/24/19
16:14
Syndicate
Breaking Syndicate news story on Translate Bio »

Translate Bio files 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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  • 18

    Jun

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