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CSCO

Cisco

$56.55

-0.58 (-1.02%)

, MAN

ManpowerGroup

$89.85

-2.68 (-2.90%)

10:16
06/12/19
06/12
10:16
06/12/19
10:16

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cisco (CSCO) downgraded to Market Perform from Outperform at William Blair with analyst Jason Ader saying he sees "signs of tightening demand" across IT infrastructure, which he believes could pressure growth in Cisco's fiscal 2020, "especially when compared against unusually strong demand in fiscal 2019." 2. Manpower (MAN) downgraded to Neutral from Outperform at Credit Suisse. 3. Dave & Buster's (PLAY) downgraded to Hold from Buy at Gordon Haskett and SunTrust, as well as to Market Perform from Outperform at Wells Fargo. 4. Amcor (AMCR) reinstated with a Sell from Neutral at Goldman Sachs with analyst Brian Maguire saying Bemis's earnings growth "has not proven to be as resilient in recent years." 5. Beyond Meat (BYND) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard saying "valuation considerations as the stock has traded in a highly volatile manner since its IPO likely due to its limited public float." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

CSCO

Cisco

$56.55

-0.58 (-1.02%)

MAN

ManpowerGroup

$89.85

-2.68 (-2.90%)

PLAY

Dave & Buster's

$40.59

-10.96 (-21.26%)

AMCR

Amcor

$11.28

0.09 (0.80%)

BYND

Beyond Meat

$139.14

13.12 (10.41%)

  • 13

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    Aug

CSCO Cisco
$56.55

-0.58 (-1.02%)

06/12/19
WBLR
06/12/19
DOWNGRADE
WBLR
Market Perform
Cisco downgraded to Market Perform from Outperform at William Blair
William Blair analyst Jason Ader downgraded Cisco to Market Perform from Outperform saying growth headwinds are developing.
05/16/19
MKMP
05/16/19
NO CHANGE
Target $56
MKMP
Neutral
Cisco price target raised to $56 from $54 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Cisco to $56 after its Q3 earnings beat, saying the company generated "good headline numbers" with a 4% rate of growth in organic revenues and new product orders. The analyst also cites the company commentary suggesting that the impact from the escalating China trade tensions has been minimal. Genovese maintains his Neutral rating on Cisco shares however, noting that Q3 marked a deceleration in the company's order rate from 8% in Q2 and adding that the stock typically "outperforms when orders are accelerating."
05/30/19
JPMS
05/30/19
NO CHANGE
JPMS
JPMorgan views Cisco, Ciena as 'safe havens' during trade war
The vast majority of the multiple de-rating in the Networking/IT Hardware sector has been driven by investor concerns relative to the recent escalation in the trade stand-off with China, and investors are mindful of stocks with high exposure to China and/or Huawei, JPMorgan analyst Samik Chatterjee tells investors in a research note. The analyst continues to recommend Cisco Systems (CSCO) as his top pick for investors as a "relative safe haven," along with Ciena (CIEN), as he believes the company's upcoming fiscal Q2 results will likely be a catalyst. Beyond these names, Chatterjee sees a favorable set up for Neutral-rated Arista Networks (ANET) and he continues to recommend Overweight-rated Lumentum (LITE), despite its high exposure to both China and Huawei.
06/12/19
WBLR
06/12/19
DOWNGRADE
WBLR
Market Perform
William Blair downgrades Cisco Systems, sees growth pressures in 2020
William Blair analyst Jason Ader downgraded Cisco Systems (CSCO) to Market Perform from Outperform. The analyst sees "signs of tightening demand" across IT infrastructure, which he believes could pressure growth in Cisco's fiscal 2020, "especially when compared against unusually strong demand in fiscal 2019." Further, one-time tailwinds to the company's fiscal 2019 revenue growth, including ASC 606 and tariff-driven price hikes, will expire, Ader tells investors in a research note. The analyst also sees long-term threats to Cisco from Arista Networks' (ANET) entry into the campus market. Ader now believes upside to Cisco's consensus estimates, as well as multiple expansion, "will be more challenging from here."
MAN ManpowerGroup
$89.85

-2.68 (-2.90%)

06/12/19
FBCO
06/12/19
DOWNGRADE
FBCO
Neutral
Manpower downgraded to Neutral from Outperform at Credit Suisse
04/16/19
RBCM
04/16/19
INITIATION
Target $104
RBCM
Outperform
ManpowerGroup initiated with an Outperform at RBC Capital
RBC Capital analyst Seth Weber started ManpowerGroup with an Outperform rating and $104 price target. The company's "big" European exposure poses risk, but this is reflected in the current valuation, Weber tells investors in a research note. The analyst expects the stock to continue to rise with "evidence of stabilization" and sees opportunity with higher-margin offerings and for free cash to fund share buybacks.
04/22/19
BMOC
04/22/19
NO CHANGE
Target $93
BMOC
Market Perform
ManpowerGroup price target raised to $93 from $86 at BMO Capital
BMO Capital analyst Jeffrey Silber raised his price target on ManpowerGroup to $93 after its "slight" Q1 earnings beat and above-consensus Q2 guidance, saying the "release and commentary were above most expectations." The analyst cites the company's "stabilization in European key markets" which he believes should "support improving investor expectations and recent cost initiatives" while offsetting expectations of continued negative operating leverage. Silber adds that the resiliency by ManpowerGroup has been surprising, keeping his Market Perform rating to reflect the risks around the impact of Brexit.
04/22/19
RBCM
04/22/19
NO CHANGE
Target $114
RBCM
Outperform
ManpowerGroup price target raised to $114 from $104 at RBC Capital
RBC Capital analyst Seth Weber raised his price target on ManpowerGroup to $114 and kept his Outperform rating after its Q1 results, also raising his FY19 and FY20 EPS outlook by 25c and 65c to $7.85 and $8.80 respectively. The analyst says the quarter featured "good news" out of Europe, as the management has noted "stabilization in several key markets" while Q2 outlook further implied a "stable trajectory" in France, UK, Italy, and Netherlands along with better trend in Spain, Germany, and Belgium markets. Weber has also updated his expected FY19 E.U. constant currency revenue to down 2.5% from down 3.5%.
PLAY Dave & Buster's
$40.59

-10.96 (-21.26%)

06/12/19
RAJA
06/12/19
NO CHANGE
Target $50
RAJA
Outperform
Dave & Buster's price target lowered to $50 from $60 at Raymond James
Raymond James analyst Brian Vaccaro lowered his price target on Dave & Buster's shares to $50 from $60 after the company reported "disappointing" Q1 comparable sales growth and unexpectedly cut its FY19 guidance, which he sees being due to increased competition and continued food and beverage challenges. However, he still sees a positive risk/reward balance given the stock's valuation and the company's "strong" new unit performance and Vaccaro keeps an Outperform rating on Dave & Buster's shares.
06/12/19
LOOP
06/12/19
NO CHANGE
Target $55
LOOP
Buy
Dave & Buster's price target lowered to $55 from $65 at Loop Capital
Loop Capital analyst Lynne Collier lowered her price target on Dave & Buster's to $55 after its Q1 earnings miss and below-consensus comps, with a decrease of 0.3% in blended SSS driven by decelerating food and beverage sales. The analyst also points to the "choppy sales" observed by the management thus far in Q2 and says the volatility in recent performance is disappointing, even though she keeps her Buy rating on the stock and believes that its new valuation already reflects much of the negative news. Collier adds that Dave & Buster's' VR gaming is resonating with consumers and expects the company's menu changes to boost the company's food/beverage comps in the coming months.
06/12/19
JEFF
06/12/19
NO CHANGE
Target $56
JEFF
Buy
Dave & Buster's price target lowered to $56 from $60 at Jefferies
Jefferies analyst Andy Barish lowered his price target for Dave & Buster's to $56 from $60 citing the company's same-store-sales miss in Q1. The analyst, however, keeps a Buy rating on the shares. He still believes management's strategy is "sound," although he admits the "disappointing" Q1 suggests the turnaround in F&B is still some ways off.
06/12/19
MAXM
06/12/19
NO CHANGE
Target $62
MAXM
Buy
Dave & Buster's price target lowered to $62 from $67 at Maxim
Maxim analyst Stephen Anderson lowered his price target on Dave & Buster's to $62 after its "weak" Q1 results, also lowering his Q2 and FY19 estimates by 3c and 17c to 87c and $3.09 respectively following the company's miss on comps. The analyst keeps his Buy rating on Dave & Buster's shares however, stating that he remains "encouraged that virtual reality-related traffic will support FY19 EPS" to levels at or above the high end of lowered guidance. Anderson also lowers his FY20 EPS outlook to $3.62 from $3.91.
AMCR Amcor
$11.28

0.09 (0.80%)

06/12/19
GSCO
06/12/19
DOWNGRADE
Target $9
GSCO
Sell
Amcor reinstated with a Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Brian Maguire reinstated coverage of Amcor with a Sell rating and $9 price target. The firm previously had a Neutral rating on the shares before going to Not Rated last August. Bemis's earnings growth "has not proven to be as resilient in recent years," Maguire tells investors in a research note. He believes the company's "over-exposure" to large U.S. consumer packaging customers will be dilutive to Amcor's long-term growth rate. Further, Maguire is concerned that "accelerating customer backlash" against plastic packaging creates under-appreciated risk to Amcor.
BYND Beyond Meat
$139.14

13.12 (10.41%)

06/12/19
BERN
06/12/19
DOWNGRADE
Target $123
BERN
Market Perform
Beyond Meat downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Alexia Howard downgraded Beyond Meat to Market Perform from Outperform with a price target of $123. . The downgrade is due to "valuation considerations as the stock has traded in a highly volatile manner since its IPO likely due to its limited public float," Howard tells investors in a research note. The analyst now sees limited upside for the stock. Beyond Meat closed yesterday down 25%, or $42.06, to $126.04 after JPMorgan analyst Ken Goldman downgraded the shares on valuation concerns
06/11/19
JPMS
06/11/19
DOWNGRADE
Target $121
JPMS
Neutral
Beyond Meat downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Ken Goldman downgraded Beyond Meat to Neutral from Overweight while raising his price target for the shares to $121 from $120. The analyst cites valuation for the downgrade with the shares well above his target.
06/11/19
06/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities with analyst John Heagerty. 2. Symantec (SYMC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Keith Weiss saying his recent survey of Chief Security Officers points to Symantec losing share in endpoint security and web security, which poses risk to its revenue growth guidance. 3. Shell Midstream (SHLX) downgraded to Underperform from Neutral at Credit Suisse with analyst Spiro Dounis noting that lower than anticipated re-contracted Zydeco pipeline rates result in a more challenged financial outlook that likely requires the Sponsor to remain accommodative. 4. Beyond Meat (BYND) downgraded to Neutral from Overweight at JPMorgan analyst Ken Goldman saying the stock at around $168 "requires assumptions we are not yet comfortable with." 5. Denny's (DENN) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying that he remains "constructive" on the company's continued "brand rejuvenation" and refranchising program, modeling earning growth accelerating to 31% in 2020 from the projected 9% this year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
06/11/19
JPMS
06/11/19
DOWNGRADE
Target $121
JPMS
Neutral
JPMorgan downgrades Beyond Meat to Neutral on balanced risk/reward
JPMorgan analyst Ken Goldman downgraded Beyond Meat to Neutral from Overweight while raising his price target for the shares to $121 from $120. The stock at around $168 "requires assumptions we are not yet comfortable with," Goldman tells investors in a research note titled "Beyond Our Price Target." The analyst believes Beyond Meat's risk/reward is now balanced following the recent share rally. Goldman, however, remains "highly favorable" to the total addressable market for alternative meat and Beyond Meat's role within it. Further, he still thinks consensus estimates for both sales and EBITDA are too conservative.

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