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MDT

Medtronic

$89.02

1.22 (1.39%)

, HRL

Hormel Foods

$39.48

-0.33 (-0.83%)

20:25
05/22/19
05/22
20:25
05/22/19
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Medtronic (MDT), consensus $1.47... Hormel Foods (HRL), consensus 45c... Best Buy (BBY), consensus 86c... BJ's Wholesale (BJ), consensus 24c.

MDT

Medtronic

$89.02

1.22 (1.39%)

HRL

Hormel Foods

$39.48

-0.33 (-0.83%)

BBY

Best Buy

$69.26

-0.68 (-0.97%)

BJ

BJ's Wholesale

$26.50

0.94 (3.68%)

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MDT Medtronic
$89.02

1.22 (1.39%)

05/10/19
RHCO
05/10/19
NO CHANGE
Target $33
RHCO
Buy
Axonics price target raised to $33 from $26 at SunTrust
SunTrust analyst Bruce Nudell raised his price target on Axonics (AXNX) to $33 and kept his Buy rating after its Q1 earnings, saying the results have strengthened his bullish outlook on the stock based on the company's increased market share gains for its sacral neuromodulation device. The analyst anticipates a "rapid share shift" given the device's value proposition - including ability to have a full body MRI and fewer replacements over a 15-year period - over Medtronic's (MDT) "outdated" Interstim II.
04/09/19
SPHN
04/09/19
NO CHANGE
Target $170
SPHN
Overweight
Medtronic outcomes-based program could be headwind for DexCom, says Stephens
After Medtronic (MDT) announced that the company has reached a deal with Blue Cross and Blue Shield of Minnesota on an outcomes-based program for the company's Guardian Connect Continuous Glucose Monitoring system, Stephens analyst Chris Cooley said the program could potentially represent an incremental headwind to Dexcom's (DXCM) revenue growth if applied across a larger setting. However, Cooley is maintaining his calendar 2019 and 2020 estimates for Dexcom and keeps an Overweight rating on shares with a $170 price target.
03/29/19
STFL
03/29/19
NO CHANGE
Target $45
STFL
Buy
IntriCon added to Select List at Stifel
Stifel analyst Jonathan Block said "the past twelve months have certainly been eventful" for IntriCon (IIN) but he contends that the company is "in a much more formidable place than where they were 12 months ago." In terms of potential catalysts over the next twelve months, Block points to a formalization of the company's contract with Medtronic (MDT), changes to the board, the international rollout of 670G and his expectation for a more aggressive Guardian CGM launch in mid-2019. Block, who believes the stock can double from current levels, added IntriCon to the Stifel Select List and keeps a Buy rating and $45 price target on the shares.
03/18/19
WELS
03/18/19
NO CHANGE
Target $202
WELS
Outperform
Edwards Lifesciences price target raised to $202 from $188 at Wells Fargo
Wells Fargo analyst Lawrence Biegelsen raised his price target for Edwards Lifesciences to $202 from $188 after the results of the company's low-risk TAVR trial was presented at the 2019 American College of Cardiology meeting. The analyst sees potential upside to his forecast given the strong low-risk results presented at ACC. Biegelsen reiterates an Outperform rating on the shares.
HRL Hormel Foods
$39.48

-0.33 (-0.83%)

04/23/19
GSCO
04/23/19
DOWNGRADE
Target $35
GSCO
Sell
Hormel Foods downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods to Sell from Neutral and lowered his price target for the shares to $35 from $37. African swine fever is upending the protein markets, Samuelson tells investors in a research note. JPMorgan this morning also downgraded Hormel Foods to a sell-equivalent rating.
04/23/19
GSCO
04/23/19
DOWNGRADE
GSCO
Sell
Goldman downgrades Hormel to Sell, upgrades Sanderson to Neutral
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods (HRL) to Sell from Neutral and cut his price target for the shares to $35 from $37. With his estimates now below consensus and "limited" earnings growth forecasted through fiscal 2020, the analyst sees risk to Hormel's "premium" valuation. The breadth and depth of African swine fever's impact across the Chinese pork industry, and as a result the global protein industry, will be significant in the near-to-medium-term, Samuelson tells investors in a research note. Buy-rated Tyson Foods (TSN) and BRF S.A. (BRFS) remain the analyst's preferred way to gain exposure to the Global Protein market. Samuelson this morning also upgraded Sanderson Farms (SAFM) to Neutral from Sell and raised his price target for the shares for $131 from $81. Higher competing protein prices and improving U.S. export prospects "make a more negative stance unsustainable," Samuelson contends. He raised his fiscal 2020 and 2021 margin forecasts for the company to "normalized levels." However, further upside is tempered, for now, by increases in U.S. processing capacity coming on stream over the next 18 months, the analyst contends.
04/23/19
JPMS
04/23/19
DOWNGRADE
Target $36
JPMS
Underweight
JPMorgan downgrades Hormel Foods to Underweight on rising pork costs
JPMorgan analyst Thomas Palmer downgraded Hormel Foods to Underweight from Neutral and lowered his price target for the shares to $36 from $40. Goldman Sachs this morning also downgraded the shares. Rising pork costs and worsening Jennie-O ground turkey brand distribution points could weigh on Hormel's earnings, Palmer tells investors in a research note. Hormel is heavily reliant upon pork as an input for its products, and the company will likely be able to fully offset these cost increases through pricing, Palmer tells investors in a research note. African swine fever in China could result in an extended period of elevated pork pricing in the U.S., he contends.
04/23/19
04/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Sell from Neutral at Goldman Sachs and to Underweight from Neutral at JPMorgan. 2. Digital Realty (DLR) downgraded to Hold from Buy at Jefferies with analyst Jonathan Petersen saying market absorption numbers from datacenterHawk suggest a leasing quarter even worse than Q4 of 2018 for the data center real estate investment trusts. 3. PSEG (PEG) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Turnure saying now that zero emission credits have been formally awarded, the he expects PJM capacity market reform driven-uncertainty to continue near-term or longer if the Federal Energy Regulatory Commission fails to approve a revised methodology soon. He sees limited near-term upside in PSEG shares. 4. Fortis (FTS) downgraded to Market Perform from Outperform at Raymond James. 5. Crocs (CROX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the "runway for significant share appreciation becomes more difficult from here." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BBY Best Buy
$69.26

-0.68 (-0.97%)

04/01/19
BTIG
04/01/19
DOWNGRADE
BTIG
Neutral
Care.com downgraded to Neutral from Buy at BTIG
BTIG analyst Marvin Fong downgraded Care.com (CRCM) to Neutral from Buy citing the fallout from the Wall Street Journal's reporting on the company. The stock closed the trading day down 7%, or $1.31, to $18.45. The analyst sees "tangible fallout" after learning that Best Buy (BBY) has suspended its back-up care offering provided by Care.com's [email protected] unit. Fong, however, emphasizes that Best Buy has suspended the service, not terminated it. Best Buy told the analyst, "We are doing our due diligence to make sure Care.com is still a good choice for this benefit." While Best Buy could reinstate [email protected] at any time, it is prudent to trim [email protected] estimates to "reflect the current reality," Fong tells investors in a research note. He believes Best Buy's decision may impact the future trajectory of Care.com's back-up care business. Further, the Journal has made Care.com a "favorite target" with three articles within the span of about three weeks, says Fong. Given the importance of reputation to Care.com's model, the risks to the stock "are becoming increasingly difficult to assess with confidence," contends the analyst. While [email protected] is just 9% of the company's revenue, it accounted for 25% of its growth in 2018, he points out.
04/24/19
JEFF
04/24/19
UPGRADE
Target $88
JEFF
Buy
Best Buy upgraded to Buy from Hold at Jefferies
Jefferies analyst Jonathan Matuszewski upgraded Best Buy to Buy from Hold and raised his price target for the shares to $88 from $72.
04/24/19
JEFF
04/24/19
UPGRADE
Target $88
JEFF
Buy
Jefferies upgrades Best Buy on services push with $88 price target
Jefferies analyst Jonathan Matuszewski upgraded Best Buy to Buy from Hold and raised his price target for the shares to $88 from $72. Survey and data work suggest Best Buy's greater push toward services will drive long-term value and customer wallet share, Matuszewski tells investors in a research note. The analyst now has increased confidence in the company's In-Home Advisor initiative and the "upward trajectory of high-margin services that it feeds," including Total Tech Support. Matuszewski also thinks the consumer electronics cycle will be stronger than many believe and that Best Buy is well positioned to capitalize. After analyzing the company's share of voice for top consumer electronics products and phrases, the analyst believes "outsized share gains lie ahead, especially as pricing versus peers improves.
04/24/19
04/24/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Eli Lilly (LLY) upgraded to Buy from Hold at Edward Jones. 2. Snap (SNAP) upgraded to In Line from Underperform at Evercore ISI and to Neutral from Underweight at JPMorgan. 3. Best Buy (BBY) upgraded to Buy from Hold at Jefferies with analyst Jonathan Matuszewski saying survey and data work suggest Best Buy's greater push toward services will drive long-term value and customer wallet share. 4. Procter & Gamble (PG) upgraded to Overweight from Equal Weight at Barclays with analyst Lauren Lieberman saying the market is shrugging off Procter & Gamble's 5% organic sales growth in its fiscal Q3, with many investors thinking this is the best it can get. 5. Sonoco (SON) upgraded to Buy from Hold at Argus with analyst David Coleman saying the stock has outperformed over the past 3 months, benefiting from its "accretive acquisitions, favorable pricing, improvements in productivity, and a lower effective tax rate." This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
BJ BJ's Wholesale
$26.50

0.94 (3.68%)

03/22/19
UBSW
03/22/19
NO CHANGE
Target $280
UBSW
Buy
Costco price target raised to $280 from $270 at UBS
UBS analyst Michael Lasser raised his price target on Costco (COST) to $280 and kept his Buy rating as part of his deep dive analysis into warehouse clubs. The analyst says the model "remains relevant" and has a "sturdy place" in the omnichannel world, noting that his survey of 1.5K shoppers shows that consumers are loyal to the concept. Lasser cites 91% of Costco members responding that they are "very or somewhat likely to renew", which outpaces intentions recorded at Sam's Club (WMT) and BJ's (BJ). The analyst further notes that Costco has produced 8 consecutive quarters of mid-single-digit core comp growth, suggesting the company's "leadership in this category".
03/29/19
WELS
03/29/19
NO CHANGE
Target $32
WELS
Outperform
BJ's Wholesale price target raised to $32 from $29 at Wells Fargo
Wells Fargo analyst analyst Edward Kelly raised his price target for BJ's Wholesale Club Holdings to $32 from $29 after hosting "constructive" meetings with management. The analyst walked away with increased confidence in the "upside opportunity in this underappreciated defensive, self-help story." He maintains an Outperform rating on BJ's Wholesale.
04/01/19
SBSH
04/01/19
UPGRADE
Target $18
SBSH
Neutral
Bed Bath & Beyond upgraded to Neutral from Sell at Citi
Citi analyst Geoff Small upgraded Bed Bath & Beyond (BBBY) to Neutral from Sell and raised his price target for the shares to $18 from $10 after taking over coverage of the name. Citi transferred coverage of Broadlines & Hardlines Retail names to Small. The analyst assumed coverage with Buy ratings on AutoZone (AZO), BJ's Wholesale (BJ), Home Depot (HD), Lowe's (LOW), O'Reilly Automotive (ORLY) and Walmart (WMT). The U.S. consumer remains on "solid footing" amid low unemployment, rising wages, declining gas prices, manageable levels of debt, and elevated consumer confidence, Small tells investors in a research note. However, he points out that we are in the ninth year of the current economic expansion and "the possibility of a macroeconomic slowdown cannot be ignored." The analyst prefers retailers operating in "defensive sectors that are less susceptible to disruption by online competitors," namely auto parts, broadlines and home improvement retail. Small also assumed Advance Auto Parts (AAP), Best Buy (BBY), Costco (COST) and Office Depot (ODP) with Neutral ratings.
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.

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