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NVS

Novartis

$77.79

1.95 (2.57%)

07:32
04/25/19
04/25
07:32
04/25/19
07:32

Novartis upgraded to Buy from Neutral at Guggenheim

As previously reported, Guggenheim analyst Seamus Fernandez upgraded Novartis to Buy with a price target of CHF95, saying he is more confient that the company "can deliver several years of mid-single digit operating profit and EPS growth" through 2024. The analyst notes that investors have an "attractive opportunity" given the company's "structural shift in operating margins driven by transformational SMA gene therapy, Zolgensma, a best-case Mayzent label in MS, and several near-term pipeline catalysts."

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NVS Novartis
$77.79

1.95 (2.57%)

04/10/19
04/10/19
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 Reduce from Hold at HSBC with analyst Erwan Rambourg saying the returns from Apple's recent announcements, including the Apple News+ premium news subscription, the Apple Card in partnership with Goldman Sachs (GS), Apple Arcade games as part of the App store and video subscription Apple TV+, could "take some time to extract." 2. AmerisourceBergen (ABC) downgraded to In Line from Outperform at Evercore ISI with analyst Michael Cherry citing group profit questions, lack of clarity with PharMEDium, and a reduction in multiple for peers Cardinal Health (CAH) and McKesson (MCK). 3. Novartis (NVS) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Mark Purcell saying the spinoff of Alcon will put more attention on the generics risk Novartis faces in its pharma business. 4. TerraForm Power (TERP) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Lee saying that while the company is in the midst of an operational transition that may improve cash flow and dividend flexibility, the upside appears to be priced in. 5. Foot Locker (FL) assumed with a Neutral from Buy at Citi with analyst Paul Lejuez saying while Foot Locker has "tailwinds at its back" in North America with comps inflecting positively in Q4, the company still faces many of the same headwinds as other specialty retailers given its "significant" mall exposure and EBIT pressure from direct-to-consumer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/17/19
JEFF
04/17/19
NO CHANGE
Target $343
JEFF
Hold
Regeneron price target lowered to $343 from $376 at Jefferies
Jefferies analyst Biren Amin lowered his price target for Regeneron Pharmaceuticals (REGN) to $343 from $376 after doctors in his firm's survey viewed Novartis' (NVS) brolucizumab favorably. Retina specialists are particularly eager to prescribe brolucizumab, Amin tells investors in a research note. "Conservatively" incorporating the doctor estimates for brolucizumab uptake cuts revenue for Regeneron's Eylea in wet age-related macular degeneration by 13% over next two years, says the analyst. His revised Eylea estimates are now 4%-7% below consensus for fiscal 2020 through 2023. Amin thinks the Street underestimates the impact of the brolucizumab entry, which he thinks could "replicate events seen when Eylea launched and encroached on Lucentis share." The analyst keeps a Hold rating on Regeneron.
04/24/19
WELS
04/24/19
NO CHANGE
WELS
Sandoz results should not be seen as positive for generics, says Wells Fargo
Wells Fargo analyst David Maris sees nothing in the Q1 results from Novartis (NVS) unit Sandoz that points to a dramatically improving U.S. generic pricing environment. We would tot read the Sandoz results as a positive for generic companies such as Teva (TEVA) and Mylan (MYL), and commentary about generic Copxone pricing trends is a negative, Maris tells investors in a research note. He believes Sandoz trends are important to watch as a potential read-through for other generic drug company results. Novartis continues to see higher generic headwinds in the remainder of 2019, Maris points out, citing comments from the earnings call.
04/24/19
GUGG
04/24/19
UPGRADE
GUGG
Buy
Novartis upgraded to Buy from Neutral at Guggenheim

TODAY'S FREE FLY STORIES

RDY

Dr. Reddy's

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JD

JD.com

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SHOP

Shopify

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-15.05 (-4.61%)

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CBMG

Cellular Biomedicine

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INTC

Intel

$47.63

0.17 (0.36%)

06:18
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Intel plans to cut desktop processor prices by up to 15%, DigiTimes reports »

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LMT

Lockheed Martin

$359.98

0.555 (0.15%)

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U.S.: Turkey would lose F-35 if Russia arms deal moves forward, Reuters says »

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NSANY

Nissan

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(0.00%)

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Nissan overhauls board following disorderly investor meeting, WSJ reports »

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PVTL

Pivotal Software

$11.35

-0.15 (-1.30%)

06:11
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06:11
Downgrade
Pivotal Software rating change  »

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GOOG

Alphabet

$1,115.75

-6.63 (-0.59%)

, GOOGL

Alphabet Class A

$1,117.00

-8.17 (-0.73%)

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-6.63 (-0.59%)

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$1,117.00

-8.17 (-0.73%)

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LEN

Lennar

$51.41

0.09 (0.18%)

06:07
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06:07
Earnings
Lennar reports Q2 EPS $1.30, consensus $1.14 »

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BAS

Basic Energy

$2.43

-0.21 (-7.95%)

06:07
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06:07
Downgrade
Basic Energy rating change  »

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  • 13

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FTSI

FTS International

$5.77

-0.5 (-7.97%)

06:06
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06:06
Downgrade
FTS International rating change  »

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IMRN

Immuron

$3.00

-0.09 (-2.91%)

06:05
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Immuron Directors increase shareholdings in the company »

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USWS

U.S. Well Services

$5.18

-0.38 (-6.83%)

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U.S. Well Services signs agreement with AmeriMex Motor & Controls »

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AMCR

Amcor

$11.14

0.12 (1.09%)

06:03
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Amcor enters into $394M agreement for sale of three flexible packaging plants »

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EQT

EQT Corporation

$15.38

0.15 (0.98%)

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  • 10

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PLL

Piedmont Lithium

$11.50

(0.00%)

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GEN

Genesis Healthcare

$1.23

0.01 (0.82%)

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VKTX

Viking Therapeutics

$7.94

-0.07 (-0.87%)

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CTRP

Ctrip

$36.43

0.37 (1.03%)

06:00
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MDGL

Madrigal Pharmaceuticals

$101.39

-3.73 (-3.55%)

, VKTX

Viking Therapeutics

$7.94

-0.07 (-0.87%)

05:58
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Initiation
Madrigal Pharmaceuticals, Viking Therapeutics, Genfit initiated  »

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MDGL

Madrigal Pharmaceuticals

$101.39

-3.73 (-3.55%)

VKTX

Viking Therapeutics

$7.94

-0.07 (-0.87%)

GNFT

Genfit

$20.19

-0.02 (-0.10%)

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RGEN

Repligen

$81.92

-1.09 (-1.31%)

05:55
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Conference/Events
Repligen management to meet with Stephens »

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NRCG

NRC Group

$11.04

2.23 (25.31%)

, ECOL

US Ecology

$57.37

-5.38 (-8.57%)

05:54
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06/25
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05:54
Downgrade
NRC Group, US Ecology rating change  »

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NRCG

NRC Group

$11.04

2.23 (25.31%)

ECOL

US Ecology

$57.37

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XHR

Xenia Hotels

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-0.55 (-2.62%)

05:45
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Initiation
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ARCE

Arco Platform

$43.38

-2.35 (-5.14%)

05:41
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Initiation
Arco Platform initiated  »

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