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RTN

Raytheon

$185.91

2.35 (1.28%)

, UTX

United Technologies

$132.15

0.5 (0.38%)

19:21
06/09/19
06/09
19:21
06/09/19
19:21

Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Raytheon (RTN) and United Technologies (UTX) have entered into an agreement to combine in an all-stock merger of equals. The combined company will be named Raytheon Technologies Corporation, and will exclude Otis and Carrier, which are expected to be separated from United Technologies in the first half of 2020 as previously announced. The combined company will have approximately $74B in pro forma 2019 sales. Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, Raytheon share owners will receive 2.3348 shares in the combined company for each Raytheon share. Upon completion of the merger, United Technologies shareowners will own approximately 57% and Raytheon shareowners will own approximately 43% of the combined company on a fully diluted basis. The merger is expected to close in the first half of 2020, following completion by United Technologies of the previously announced separation of its Otis and Carrier businesses. 2. Group of 20 finance ministers have agreed to compile common rules to close loopholes used by global tech giants such as Facebook (FB) to reduce their corporate taxes, Reuters' Stanley White and Jan Strupczewski reported. Facebook, Google (GOOG; GOOGL), Amazon (AMZN) and other large technology companies face criticism for reducing their tax bills by booking profits in low-tax countries regardless of the location of the end customer, the authors noted. 3. Falling interest rates and a threatening economic slowdown bode ill for U.S. banks, and their stocks have fallen out of favor, but there are some compelling reasons to embrace the banks, especially JPMorgan (JPM), Andrew Bary wrote in this week's edition of Barron's. The company's strengths are underappreciated, with shares trading for 11 times projected 2019 earnings of $10 a share and yield almost 3%, the author noted, adding that the bank is expected to boost its quarterly payout to about 90c. 4. Comcast (CMCSA) subsidiary Universal's "The Secret Life of Pets 2" won the weekend's North American box office, earning $47.1M in its debut from 4,561 locations. The animated family film received a 54% rating on Rotten Tomatoes and an A- CinemaScore. "The Secret Life of Pets 2" is the tenth team-up for animation studio illumination and Universal. 5. Alibaba (BABA), Tencent (TCEHY) and British Land (BTLCY) saw positive mentions in this week's edition of Barron's, while Uber (UBER) was mentioned cautiously.

RTN

Raytheon

$185.91

2.35 (1.28%)

UTX

United Technologies

$132.15

0.5 (0.38%)

FB

Facebook

$173.34

5.06 (3.01%)

GOOG

Alphabet

$1,065.87

22.39 (2.15%)

GOOGL

Alphabet Class A

$1,068.81

22.58 (2.16%)

AMZN

Amazon.com

$1,803.71

49.51 (2.82%)

JPM

JPMorgan

$109.13

-1.29 (-1.17%)

CMCSA

Comcast

$41.47

0.33 (0.80%)

CMCSK

Comcast

$0.00

(0.00%)

BABA

Alibaba

$154.22

2.72 (1.80%)

TCEHY

Tencent

$0.00

(0.00%)

BTLCY

British Land

$0.00

(0.00%)

UBER

Uber

$45.00

0.15 (0.33%)

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RTN Raytheon
$185.91

2.35 (1.28%)

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.
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.
05/06/19
JEFF
05/06/19
NO CHANGE
Target $216
JEFF
Buy
Raytheon price target raised to $216 from $202 at Jefferies
Jefferies analyst Sheila Kahyaoglu raised her price target for Raytheon to $216 from $202 after meeting with Chairman and CEO, Tom Kenned. Raytheon continues to offer "top tier" growth and margins relative to peers, Kahyaoglu tells investors in a research note. She keeps a Buy rating on the shares.
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.
UTX United Technologies
$132.15

0.5 (0.38%)

05/10/19
GHSC
05/10/19
INITIATION
GHSC
Neutral
United Technologies initiated with a Neutral at Seaport Global
Seaport Global started United Technologies with a Neutral rating saying the upside/downside risk is balanced at current share levels.
05/30/19
COWN
05/30/19
NO CHANGE
COWN
Potential IndiGo engine switch a 'worry' for United Technologies, says Cowen
Cowen analyst Cai von Rumohr maintained a Market Perform rating and $135 price target on United Technologies, but called the Business Standard report that United Technologies' Pratt & Whitney may lose IndiGo's business to CFM International for its LEAP1-A engines a "reputational negative" that "could hurt it in future sales campaigns."
05/10/19
05/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wayfair (W) initiated with a Sell at Berenberg. 2. United Technologies (UTX) initiated with a Neutral at Seaport Global. 3. Alcon (ALC) initiated with an Outperform at Baird. 4. Pinterest (PINS) initiated with a Buy at Nomura Instinet and a Hold at Argus. 5. Reed's (REED) initiated with a Buy at RF Lafferty. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/24/19
RBCM
04/24/19
NO CHANGE
Target $159
RBCM
Sector Perform
United Technologies price target raised to $159 from $149 at RBC Capital
RBC Capital analyst Deane Dray raised his price target on United Technologies to $159 after its Q1 earnings beat driven by "strength in Aero that more than offset weakness in Carrier." The analyst also cites the company increasing the low-end of its FY19 EPS guidance while maintaining the timeline outlook for its spins in the first half of 2020. Dray keeps his Sector Perform rating and believes that United Technologies will trade "mostly range-bound" until the company gets closer to the spins date.
FB Facebook
$173.34

5.06 (3.01%)

06/04/19
RAJA
06/04/19
NO CHANGE
RAJA
Google has most antitrust risk, but still a buy on pullback, says Raymond James
Raymond James analyst Aaron Kessler noted that Alphabet (GOOG) shares fell 6%, Facebook (FB) declined over 7%, and Amazon (AMZN) dropped nearly 5% on Monday due to concerns around investigations from the Department of Justice and FTC and news after the close that House Antitrust Subcommittee Chairman David Cicilline announced a bipartisan investigation into competition in digital markets. While he believes Google has the most antitrust risk among the group given the history of fines by the European Commission, Kessler also noted that European fines have been relatively immaterial to Google's market cap and fundamentals. He views the pullback as a buying opportunity given that core fundamentals remain solid for Google, Facebook, and Amazon, calling the valuations of Alphabet and Facebook "particularly" attractive.
06/03/19
BOFA
06/03/19
NO CHANGE
Target $1350
BOFA
Buy
DOJ's Google probe could embolden critics of tech giants, says BofA/Merrill
After the Wall Street Journal reported late Friday that the U.S. Department of Justice is preparing to open an investigation into Google's (GOOG, GOOGL) compliance with antitrust laws, BofA/Merrill analyst Justin Post said that while FTC commissioners have voted in the past not to pursue a lawsuit and possible breakup of Google, the current climate "is somewhat different." In a research note to investors, Post says antitrust probes are "difficult to predict," and that if the DOJ moves ahead, an investigation would likely embolden critics of Facebook (FB), Amazon (AMZN) and other tech giants as well, causing rhetoric to heat up during the 2020 election year. Potential implications for Google could include new regulations on business practices or an antitrust investigation leading to a breakup, but to break up Google, the DOJ would likely have to file a lawsuit and convince judges that Google has undermined competition. Post has a Buy rating and $1,350 price target on shares of Google parent Alphabet.
06/04/19
BARD
06/04/19
NO CHANGE
BARD
Risk of large-cap tech breakups 'fairly low,' says Baird
Following yesterday's multiple media reports that antitrust regulators were laying out their lines of responsibility if they choose to pursue investigations of Google (GOOGL), Amazon (AMZN), Facebook (FB) and Apple (AAPL), Baird analyst Colin Sebastian said he views the odds of "nuclear options," such as forced breakups of Google, Facebook or Amazon, as "fairly low." However, he sees the chances of anti-trust action short of breakups as "moderate" and thinks the odds of regulation around privacy and security are "relatively high." Sebastian thinks Amazon and Alibaba (BABA) could outperform other large-cap tech stocks amid the "specter of government intervention," though he also thinks positive revenue trends at Facebook could lead to a rebound after investors digest the current news.
06/04/19
RSBL
06/04/19
NO CHANGE
Target $242
RSBL
Buy
Likelihood of Facebook breakup 'still looks nil,' says Rosenblatt
Rosenblatt analyst Mark Zgutowicz says that while headline risk is increased after the Wall Street Journal speculated on an upcoming Federal Trade Commission investigation into Facebook's competitive positioning, the likelihood of a company breakup "still looks nil." The analyst continues to believe Facebook will not be forced to breakup, saying the market will be no less competitive with still two dominant scale advertising platforms. A spin-off of Instagram would not deliver the sought after anti-competitive restitution, Zgutowicz tells investors in a research note. The analyst reiterates a Buy rating on Facebook shares with a $242 price target. The stock closed yesterday down 7.5% to $164.15.
GOOG Alphabet
$1,065.87

22.39 (2.15%)

06/05/19
PIVT
06/05/19
NO CHANGE
Target $265
PIVT
Buy
Trade Desk price target raised to $265 from $255 at Pivotal Research
Pivotal Research analyst Michael Levine said he sees continued share gains by Trade Desk (TTD) relative to other DSPs based on data through May, leaving him comfortable with his above consensus forecasts for Q2. However, despite the company's "impressive position" in online, he acknowledges he "may have gotten slightly ahead of [his] skis regarding the ramp in connected TV" in the second half of 2019 and Levine trimmed his estimates for the second half. Greater regulatory scrutiny on Google (GOOG) by the DOJ would be positive for Trade Desk, added Levine, who raised his price target on Trade Desk to $265 from $255 and keeps a Buy rating on the shares.
06/07/19
DBAB
06/07/19
NO CHANGE
DBAB
Buy
Alphabet should bought ahead of Q4 growth acceleration, says Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley believes shares of Alphabet could be "range-bound this summer" given the growth deceleration in Q1 and a Department of Justice investigation more recently. That said, the analyst expects Alphabet 's growth to accelerate in Q4. He would take advantage of "summer blues" to build positions given his view that the company's new ad product can bolster growth in Q4 and 2020. He keeps a Buy rating on Alphabet shares.
06/07/19
DBAB
06/07/19
NO CHANGE
DBAB
Google acquisition only 'modest' negative for Tableau, says Deutsche Bank
Deutsche Bank analyst Karl Keirstead believes Google's (GOOG, GOOGL) acquisition of smaller Tableau Software (DATA) data analytics software rival Looker for $2.6B is only a "modest net negative" for Tableau. Even adjusted for Looker's faster growth rate, Google paid a "healthy premium" to Tableau's 2019 revenue multiple of seven-times and a "far cry" from the three-times forward revenue multiple that Thoma Bravo paid for Qlik back in mid-2016, Keirstead tells investors in a research note. The analyst affirms a Buy rating on Tableau Software.
GOOGL Alphabet Class A
$1,068.81

22.58 (2.16%)

06/06/19
DADA
06/06/19
NO CHANGE
Target $9
DADA
Buy
Cloudera price target lowered to $9 from $23 at DA Davidson
DA Davidson analyst Rishi Jaluria lowered his price target on Cloudera (CLDR) to $9 after its "disastrous" quarter with a reset of the company's recurring revenue expectations, resignation of its CEO, and weak bookings, as customers await the release of Cloudera Data Platform, or CDP. The analyst also points to Cloudera's higher churn, and increased competitiveness from Amazon's (AMZN) AWS, Microsoft's (MSFT) Azure, and Google's (GOOGL) GCP impacting the quarter. Jaluria cuts his FY21 EPS view to (19c) from 22c but maintains his Buy rating on Cloudera, citing his "glimmer of hope" that the company can reaccelerate growth with CDP or that either a private equity firm or IBM (IBM) would acquire it given the reduced 1.8-times enterprise value to expected 2020 revenue valuation.
AMZN Amazon.com
$1,803.71

49.51 (2.82%)

06/06/19
WELS
06/06/19
NO CHANGE
Target $145
WELS
Outperform
Microsoft Azure's growth still not fully appreciated, says Wells Fargo
Noting that Amazon Web Services (AMZN) entered the cloud computing market several years ahead of Microsoft (MSFT), Wells Fargo analyst Philip Winslow says that the latter has experienced more rapid revenue growth, creating a sizeable differential between Azure's and AWS's growth rates while simultaneously closing the dollar revenue gap over time. Although investors have turned more positive on Microsoft Azure, the analyst believes the full multi-year impact of Azure's growth potential is still not properly reflected in consensus estimates for Microsoft. He reiterates an Outperform rating and $145 price target on Microsoft's shares.
06/07/19
SBSH
06/07/19
NO CHANGE
SBSH
FedEx decision could mark 'beginning of the end' with Amazon, says Citi
Citi analyst Christian Wetherbee said FedEx's (FDX) strategic decision to not renew its domestic Express contract with Amazon (AMZN) will likely have an immaterial financial impact, given that the companies still will do other business and he assumes Amazon is a below-average margin customer. However, the "fairly bold pronouncement" from FedEx "could mark the beginning of the end" with Amazon, which he believes FedEx views as a long-term threat, Wetherbee tells investors. He sees the news as a positive strategic decision for FedEx, and does not expect a materially negative reaction in the shares, though it could add "further messiness" to guidance, the analyst added. In late day trading, FedEx shares are up 1% to $158.39.
JPM JPMorgan
$109.13

-1.29 (-1.17%)

03/25/19
JEFF
03/25/19
NO CHANGE
JEFF
Jefferies downgrades Financials to Underweight on 'shocking' Fed meeting
Jefferies analyst Steven DeSanctis is "very surprised" by last week's Federal Reserve's decision taking rate hikes completely off table in 2019. The "shocking" Fed meeting means lower rates for longer, which is not good for Financials, DeSanctis tells investors in a research note. A "lack of catalysts and weaker earnings growth" going forward for the entire sector, not just banks, means an Underweight rating on the space makes sense, says the analyst. As such, he downgraded his rating on the Financial sector to Underweight from Market Weight. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
03/19/19
KEYB
03/19/19
DOWNGRADE
KEYB
Sector Weight
Worldpay downgraded to Sector Weight after Fiserv deal at KeyBanc
As previously reported, KeyBanc analyst Josh Beck downgraded Worldpay (WP) to Sector Weight from Overweight after the company and FIS (FIS) announced a deal, quickly adding another mega-deal in the wake of Fiserv (FISV)-First Data (FDC) and Global Payments (GPN)-Heartland Payment Systems. The analyst thinks this transaction is likely to expand the M&A discussion around Global Payments, TSYS (TSS), EVO Payments (EVOP), and i3 Verticals (IIIV) and sees paths to accretion should management teams further endorse a scale strategy. Future processing competition could increase among Global Payments, TSYS, First Data, and JPMorgan (JPM), but it remains too early to gauge, he contends.
03/06/19
03/06/19
NO CHANGE

JPMorgan files $130.14M mixed securities shelf
02/28/19
BMOC
02/28/19
NO CHANGE
Target $116
BMOC
Market Perform
JPMorgan price target lowered to $116 from $123 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on JPMorgan to $116 and kept his Market Perform rating, citing the company's Investor Day presentation that lowered expectations for net interest income as well as performance of its corporate & investment bank and wealth management segments. The analyst believes that other large-cap banks, fin-tech companies, and specialty lenders offer greater opportunity, even though his price target still implies a 13% return for JPMorgan stock.
CMCSA Comcast
$41.47

0.33 (0.80%)

05/30/19
GUGG
05/30/19
UPGRADE
Target $52
GUGG
Buy
Comcast upgraded to Buy on successful connectivity pivot at Guggenheim
As previously reported, Guggenheim analyst Mike McCormack upgraded Comcast to Buy from Neutral, contending that the company's successful pivot from primarily a video distributor to a connectivity company "has been fairly smooth." The results in Q1 showed that multiple-system operators and cable operators are outgaining telecom rivals in the broadband space meaningfully, said McCormack, who added that he expects continued broadband gains. Additionally, NBCU keeps operating at "a very high level" and the Wireless business is showing steady gains, according to McCormack, who raised his price target on Comcast shares to $52 from $39.
05/30/19
05/30/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Citi (C) upgraded to Buy from Neutral at Goldman Sachs with analyst Richard Ramsden saying he sees a "realistic path" to a 13% return on tangible common equity in 2020 for Citi, or 100 basis points ahead of market expectations, which he notes is not contingent on either higher interest rates or strengthening global growth trends. 2. Comcast (CMCSA) upgraded to Buy from Neutral at Guggenheim with analyst Mike McCormack saying the company's successful pivot from primarily a video distributor to a connectivity company "has been fairly smooth." 3. Zynga (ZNGA) upgraded to Overweight from Equal Weight at Stephens with analyst Jeff Cohen saying the continued acceleration of recent acquisitions and the fact that Social Casino could be poised for a second half re-acceleration give him additional confidence in Zynga's live service portfolio. 4. Penumbra (PEN) upgraded to Overweight from Neutral at JPMorgan with analyst Robert Marcus saying the Street is overly focused on competitive entrants to the stroke aspiration market. 5. Cypress Semiconductor (CY) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Craig Hettenbach citing press reports indicating that the company is exploring strategic options. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/30/19
GUGG
05/30/19
UPGRADE
GUGG
Buy
Comcast upgraded to Buy from Neutral at Guggenheim
06/05/19
RILY
06/05/19
NO CHANGE
Target $18
RILY
Buy
B. Riley FBR concerned ITC ruling against Comcast not strong enough
B. Riley FBR analyst Eric Wold says that while the International Trade Commission's ruling that Comcast (CMCSA) infringed upon two claims of Tivo's (TIVO) '011 patent is a positive for Tivo, he's concerned the decision is not strong enough. There are ways for Comcast to work around the patent, Wold tells investors in a research note. However, he's optimistic for an eventual settlement/license with Comcast and believes Tivo shares "are pricing in less than a zero-percent chance." The analyst keeps a Buy rating on Tivo with an $18 price target.
CMCSK Comcast
$0.00

(0.00%)

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.
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.
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.
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.
BABA Alibaba
$154.22

2.72 (1.80%)

06/04/19
06/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Uber (UBER) was initiated with an Overweight at Barclays and Morgan Stanley, an Outperform at Oppenheimer, Cowen, William Blair, and JMP Securities, a Buy at Canaccord, SunTrust, Deutsche Bank, Loop Capital, Mizuho, BTIG, Needham, and BofA/Merrill, and a Neutral at Citi. 2. Lyft (LYFT) was initiated with a Buy at BTIG, SunTrust, and Citi, a Hold at Loop Capital, and an Equal Weight at Barclays. 3. Alibaba (BABA), JD.com (JD), and Twitter (TWTR) were initiated with a Buy at Loop Capital, while Alphabet (GOOG, GOOGL) was initiated with a Hold. 4. Pfizer (PFE) was resumed with an Overweight at Morgan Stanley. 5. Neon Therapeutics (NTGN) was initiated with a Buy at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/04/19
LOOP
06/04/19
INITIATION
Target $250
LOOP
Buy
Alibaba initiated with a Buy at Loop Capital
As previously reported, Loop Capital analyst Rob Sanderson initiated Alibaba with a Buy rating and a price target of $250. The analyst says the company represents the "world's most complete digital retail ecosystem" with dominant positioning in commerce marketplaces, digital payments infrastructure, and cloud computing services. Sanderson also believes that Alibaba can sustain its growth trends in core commerce and ramp up margins in its investment areas, with "meaningful" stock price appreciation potential if fears of a U.S.-China trade wars normalize.
06/03/19
LOOP
06/03/19
INITIATION
LOOP
Buy
Alibaba initiated with a Buy at Loop Capital
TCEHY Tencent
$0.00

(0.00%)

06/03/19
LOOP
06/03/19
INITIATION
LOOP
Buy
Tencent initiated with a Buy at Loop Capital
Loop Capital initiated Tencent Holdings with Buy rating and a price target of HK$450.
03/22/19
BNCH
03/22/19
NO CHANGE
BNCH
Buy
Tencent price target raised to HK$400 from HK$360 at Benchmark
Benchmark analyst Fawne Jiang said Tencent reported "solid" Q4 results, with revenue upside driven largely by growth in payments and cloud services. She expects the company's online gaming business to recover gradually during 2019 with the resumption of game approvals. Jiang maintains a Buy rating on Tencent and raised her price target on the shares to HK$400 from HK$360.
04/09/19
OPCO
04/09/19
INITIATION
OPCO
Outperform
Tencent initiated with an Outperform at Oppenheimer
Oppenheimer analyst Jason Helfstein started Tencent Holdings with an Outperform rating and $55 price target. Despite slowing online gaming sales in China, Tencent should continue to lead the gaming industry with innovations and better consumer engagement, Helfstein tells investors in a research note. Further, the analyst sees "ample runway" for the company's advertising business with the largest online audience in China.
03/18/19
OPCO
03/18/19
NO CHANGE
Target $195
OPCO
Outperform
Facebook looking to emulate WeChat ecosystem, says Oppenheimer
In the wake of recent Facebook (FB) employee departures, product announcements and regulatory risk, Oppenheimer analyst Jason Helfstein views WhatsApp and Instagram's founders departure as related to those products being integrated into Facebook. CPO Cox's departure confirms Zuckerberg is likely to purse a more aggressive product refresh, he contends, adding that Facebook appears to want to emulate Tencent (TCEHY) WeChat's ecosystem, allowing information sharing, communications and commerce in a single application. Lastly, Helfstein views Facebook's announcement of the "Clear History" tool as a way to get in front of potential U.S. and international regulation of consumer internet data. The analyst reiterates an Outperform rating and $195 price target on Facebook's shares.
BTLCY British Land
$0.00

(0.00%)

05/10/19
LEHM
05/10/19
DOWNGRADE
LEHM
Underweight
British Land downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Sander Bunck downgraded British Land to Underweight from Equal Weight with a reduced price target of 5 pounds.
UBER Uber
$45.00

0.15 (0.33%)

06/04/19
WOLF
06/04/19
INITIATION
Target $44
WOLF
Peer Perform
Uber initiated with a Peer Perform at Wolfe Research
Wolfe Research initiated Uber with a Peer Perform rating and $44 price target, citing the view that U.S. rideshare growth is moderating more rapidly than perceived. However, the analyst team of Rod Lache, Dan Galves and Chris Bottiglieri also believe that investors underestimate the company's international and food delivery opportunities.
06/05/19
RAJA
06/05/19
INITIATION
Target $50
RAJA
Outperform
Uber initiated with an Outperform at Raymond James
Raymond James analyst Justin Patterson initiated Uber Technologies with an Outperform rating and $50 price target. In a research note to investors, Patterson says shares have been pressured on reasonable concerns on unit economics, competition, and duration of losses, but believes competition continues to rationalize over the next 12 months, growth re-accelerates, making unit economics more transparent, and this causes concerns about the "true" TAM and long-term profitability to subside. Net, Patterson says he believes Uber is strongly positioned for the "offline" era of Internet and should sustain 25%+ revenue growth over the next five years.
06/05/19
06/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Uber (UBER) initiated with an Outperform at Raymond James. 2. Tilray (TLRY) initiated with a Perform at Oppenheimer. 3. Corteva (CTVA) initiated with an Outperform at Macquarie. 4. HeadHunter (HHR) initiated with an Outperform at Credit Suisse, a Buy at Goldman Sachs, and an Equal Weight at Morgan Stanley. 5. Eldorado Resorts (ERI) initiated with a Buy at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PINC

Premier

$31.89

0.47 (1.50%)

, GE

General Electric

$8.90

0.015 (0.17%)

14:23
10/16/19
10/16
14:23
10/16/19
14:23
Hot Stocks
Premier, GE collaborating on U.S. model for same-day breast cancer diagnosis »

GE Healthcare (GE) and…

PINC

Premier

$31.89

0.47 (1.50%)

GE

General Electric

$8.90

0.015 (0.17%)

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

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  • 30

    Oct

  • 05

    Nov

  • 19

    Nov

  • 20

    Nov

PLCE

Children's Place

$76.39

0.36 (0.47%)

, SCVL

Shoe Carnival

$33.81

0.52 (1.56%)

14:21
10/16/19
10/16
14:21
10/16/19
14:21
Periodicals
Mox sees potential 40%-60% upside in Children's Place, Shoe Carnival »

Mox Reports said in a new…

PLCE

Children's Place

$76.39

0.36 (0.47%)

SCVL

Shoe Carnival

$33.81

0.52 (1.56%)

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

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14:20
10/16/19
10/16
14:20
10/16/19
14:20
General news
Fed's Beige Book reported the expansion was at a "slight to modest pace," »

Fed's Beige Book…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
10/16/19
10/16
14:17
10/16/19
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
10/16/19
10/16
14:16
10/16/19
14:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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

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SNY

Sanofi

$45.72

0.17 (0.37%)

, BAX

Baxter

$87.08

-0.68 (-0.77%)

14:16
10/16/19
10/16
14:16
10/16/19
14:16
Periodicals
Sanofi in advanced talks to sell Seprafilm to Baxter, Bloomberg reports »

Sanofi (SNY) is in…

SNY

Sanofi

$45.72

0.17 (0.37%)

BAX

Baxter

$87.08

-0.68 (-0.77%)

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

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  • 24

    Oct

  • 31

    Oct

  • 06

    Nov

ATVI

Activision Blizzard

$55.61

0.04 (0.07%)

14:08
10/16/19
10/16
14:08
10/16/19
14:08
Periodicals
Blizzard bans 'Hearthstone' team for 6 months after Hong Kong sign, Kotaku says »

"Hearthstone"…

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

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  • 18

    Oct

  • 07

    Nov

CLDR

Cloudera

$8.91

0.105 (1.19%)

14:05
10/16/19
10/16
14:05
10/16/19
14:05
Options
Cloudera call volume above normal and directionally bullish »

Bullish option flow…

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

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$298.25

-0.65 (-0.22%)

14:03
10/16/19
10/16
14:03
10/16/19
14:03
General news
Most Fed districts reported 'modest' pace of price increases »

The Federal…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$298.25

-0.65 (-0.22%)

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

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$298.22

-0.68 (-0.23%)

14:02
10/16/19
10/16
14:02
10/16/19
14:02
General news
Employment rose slightly 'on balance,' Fed says in Beige Book »

The Federal…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$298.22

-0.68 (-0.23%)

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

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$298.18

-0.72 (-0.24%)

14:01
10/16/19
10/16
14:01
10/16/19
14:01
General news
U.S. economy expanded at 'slight to modest pace,' Fed says in Beige Book »

The Federal…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$298.18

-0.72 (-0.24%)

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

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13:55
10/16/19
10/16
13:55
10/16/19
13:55
Conference/Events
Joint Economic Committee to hold a hearing »

The Committee holds a…

TMUS

T-Mobile

$79.88

0.125 (0.16%)

, S

Sprint

$6.45

-0.03 (-0.46%)

13:52
10/16/19
10/16
13:52
10/16/19
13:52
Periodicals
T-Mobile, Sprint deal 'appears to have cleared' FCC vote, Bloomberg says »

Bloomberg headlines…

TMUS

T-Mobile

$79.88

0.125 (0.16%)

S

Sprint

$6.45

-0.03 (-0.46%)

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

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  • 22

    Oct

13:45
10/16/19
10/16
13:45
10/16/19
13:45
General news
Breaking General news story  »

Beige Book to be released…

PNC

PNC Financial

$140.90

1.34 (0.96%)

13:45
10/16/19
10/16
13:45
10/16/19
13:45
Conference/Events
The Brookings Institution to hold a discussion on recession preparation »

Brookings hosts a…

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

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  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

IBM

IBM

$141.89

-1.09 (-0.76%)

, FB

Facebook

$188.69

-0.12 (-0.06%)

13:43
10/16/19
10/16
13:43
10/16/19
13:43
Earnings
Fly Intel: What to watch in IBM's earnings report »

IBM (IBM) is scheduled to…

IBM

IBM

$141.89

-1.09 (-0.76%)

FB

Facebook

$188.69

-0.12 (-0.06%)

V

Visa

$177.59

-1.21 (-0.68%)

PYPL

PayPal

$102.54

-1 (-0.97%)

EBAY

eBay

$38.92

0.04 (0.10%)

MA

MasterCard

$277.70

-0.94 (-0.34%)

BKNG

Booking Holdings

$2,025.61

7.98 (0.40%)

MSFT

Microsoft

$139.94

-1.62 (-1.14%)

GOOG

Alphabet

$1,243.61

0.08 (0.01%)

GOOGL

Alphabet Class A

$1,243.00

0.49 (0.04%)

INTC

Intel

$52.14

-0.505 (-0.96%)

BABA

Alibaba

$176.05

0.74 (0.42%)

SFTBF

SoftBank

$0.00

(0.00%)

BIDU

Baidu

$108.33

1.115 (1.04%)

SCMWY

Swisscom

$0.00

(0.00%)

TCEHY

Tencent

$0.00

(0.00%)

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

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  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

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    Oct

  • 23

    Oct

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    Oct

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    Oct

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    Oct

  • 06

    Nov

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    Nov

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    Nov

  • 21

    Nov

M

Macy's

$15.77

0.07 (0.45%)

13:35
10/16/19
10/16
13:35
10/16/19
13:35
Options
Macy's put volume heavy and directionally bearish »

Bearish flow noted in…

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

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  • 21

    Nov

FB

Facebook

$188.59

-0.22 (-0.12%)

13:32
10/16/19
10/16
13:32
10/16/19
13:32
Hot Stocks
Facebook unveils ReAgent to help build models that make and rely on decisions »

Jason Gauci, Honglei Liu,…

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

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  • 23

    Oct

  • 27

    Oct

  • 30

    Oct

PINS

Pinterest

$25.70

0.1 (0.39%)

13:27
10/16/19
10/16
13:27
10/16/19
13:27
Upgrade
Pivotal upgrades Pinterest to Buy after 30% pullback from highs »

Pivotal Research analyst…

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

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  • 16

    Oct

  • 31

    Oct

  • 19

    Nov

  • 16

    Oct

ALGN

Align Technology

$211.62

2.32 (1.11%)

13:25
10/16/19
10/16
13:25
10/16/19
13:25
Options
Align Technology call volume above normal and directionally bullish »

Bullish option flow…

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

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  • 23

    Oct

13:25
10/16/19
10/16
13:25
10/16/19
13:25
Conference/Events
Stephens food/agribusiness analyst to hold analyst/industry conference call »

Analysts, along with…

13:25
10/16/19
10/16
13:25
10/16/19
13:25
Conference/Events
Wedbush technology analyst to hold an analyst/industry webcast »

Technology Analyst…

PINS

Pinterest

$25.69

0.09 (0.35%)

13:21
10/16/19
10/16
13:21
10/16/19
13:21
Upgrade
Pinterest rating change  »

Pinterest upgraded to Buy…

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

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  • 16

    Oct

  • 31

    Oct

  • 19

    Nov

  • 16

    Oct

PM

Philip Morris

$79.09

0.77 (0.98%)

, HON

Honeywell

$163.93

0.27 (0.16%)

13:19
10/16/19
10/16
13:19
10/16/19
13:19
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

PM

Philip Morris

$79.09

0.77 (0.98%)

HON

Honeywell

$163.93

0.27 (0.16%)

UNP

Union Pacific

$163.27

0.07 (0.04%)

MS

Morgan Stanley

$42.80

0.26 (0.61%)

BBT

BB&T

$52.81

0.06 (0.11%)

STI

SunTrust

$68.01

-0.04 (-0.06%)

PPG

PPG

$119.43

1.21 (1.02%)

MTB

M&T Bank

$158.77

-0.1 (-0.06%)

KEY

KeyCorp

$17.63

-0.15 (-0.84%)

GPC

Genuine Parts

$97.95

0.01 (0.01%)

DOV

Dover

$95.93

-0.02 (-0.02%)

TXT

Textron

$50.56

-0.11 (-0.22%)

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

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  • 16

    Oct

  • 17

    Oct

  • 17

    Oct

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    Oct

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    Oct

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    Oct

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    Oct

  • 04

    Nov

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    Nov

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    Nov

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    Nov

  • 12

    Nov

IBM

IBM

$141.62

-1.36 (-0.95%)

, NFLX

Netflix

$282.05

-2.19 (-0.77%)

13:19
10/16/19
10/16
13:19
10/16/19
13:19
Earnings
Notable companies reporting after market close »

Notable companies…

IBM

IBM

$141.62

-1.36 (-0.95%)

NFLX

Netflix

$282.05

-2.19 (-0.77%)

CCI

Crown Castle

$133.80

-0.85 (-0.63%)

CSX

CSX

$68.89

-0.28 (-0.40%)

KMI

Kinder Morgan

$20.09

-0.09 (-0.45%)

CCK

Crown Holdings

$63.23

0.44 (0.70%)

URI

United Rentals

$122.16

1.45 (1.20%)

STLD

Steel Dynamics

$28.59

-1.53 (-5.08%)

AA

Alcoa

$19.44

-0.01 (-0.05%)

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

See Street Research during your Free Trial

  • 16

    Oct

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    Oct

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  • 13

    Nov

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