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JCI

Johnson Controls

$39.27

0.4 (1.03%)

, WH

Wyndham Hotels & Resorts

$56.30

0.185 (0.33%)

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

Fly Intel: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Johnson Controls (JCI) reinstated with an Equal Weight at Barclays. 2. Wyndham Hotels & Resorts (WH) initiated with a Buy at BofA/Merrill. 3. Misonix (MSON) initiated with a Buy at BTIG. 4. Avantor (AVTR) initiated with an Outperform at Raymond James. 5. Fastly (FSLY) initiated with a Neutral at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

JCI

Johnson Controls

$39.27

0.4 (1.03%)

WH

Wyndham Hotels & Resorts

$56.30

0.185 (0.33%)

MSON

Misonix

$24.12

(0.00%)

AVTR

Avantor

$17.66

-0.02 (-0.11%)

FSLY

Fastly

$22.45

-0.425 (-1.86%)

  • 18

    Jun

JCI Johnson Controls
$39.27

0.4 (1.03%)

06/12/19
LEHM
06/12/19
INITIATION
LEHM
Equal Weight
Johnson Controls reinstated with an Equal Weight at Barclays
Barclays analyst Julian Mitchell reinstated coverage of Johnson Controls with an Equal Weight rating and $39 price target. The analyst thinks the company's positive attributes are well factored into the share price at current levels.
06/05/19
SBSH
06/05/19
INITIATION
Target $45
SBSH
Buy
Johnson Controls resumed with a Buy at Citi
Citi analyst Andrew Kaplowitz resumed coverage of Johnson Controls with a Buy rating and $45 price target. The company continues to be a beneficiary of both its own improving execution as well as generally positive global trends in its end markets, Kaplowitz tells investors in a research note.
05/13/19
FBCO
05/13/19
INITIATION
Target $42
FBCO
Neutral
Johnson Controls reinstated with a Neutral at Credit Suisse
Credit Suisse analyst John Walsh reinstated Johnson Controls (JCI) with a Neutral rating and a $42 price target, following the Power Solutions sale to Brookfield (BBU). The analyst cited tailwinds from energy efficiency/sustainability, improved free cash flow metrics, and margin expansion driven by incremental synergy/productivity gains in 2019/2020. However, he does not see meaningful upside to consensus estimates or relative valuation to implied IR ClimateCo, at this time.
04/04/19
MSCO
04/04/19
NO CHANGE
MSCO
U.S. HVAC may be at 'now or never' moment for consolidation, says Morgan Stanley
Morgan Stanley analysts Joshua Pokrzywinski and Rajeev Lalwani said they believe the U.S. heating, ventilation, and air conditioning industry may be at a "now or never" moment for consolidation, noting that United Technologies (UTX) has started "negotiating in public" given CEO Greg Hayes' comments on his view on valuation, timing and a structure for any deal for its Carrier business. The analysts said they believe that antitrust concerns limit the discussion to two potential transactions, namely combining Carrier with Johnson Controls (JCI) or with Lennox (LII). While both scenarios could unlock value, they view the path to a deal as easier for Lennox and see United Technologies shares as "the best way to play" this consolidation theme. Including a Carrier transaction in their sum-of-the-parts valuation would point to a United Technologies share price of up to $170, versus their price target on the stock of $155, noted the analysts.
WH Wyndham Hotels & Resorts
$56.30

0.185 (0.33%)

12/13/18
JPMS
12/13/18
NO CHANGE
JPMS
Overweight
Wyndham valuation discount to Choice unwarranted, says JPMorgan
JPMorgan analyst Joseph Greff left recent investor meetings with management "incrementally positive" on the setup for Wyndham Hotels & Resorts (WH) shares versus peers. The analyst sensed the company's operations are "steady/consistent" and that the LaQuinta integration is going smoothly. Wyndham's current valuation discount to Choice Hotels (CHH) is unwarranted, Greff tells investors in a research note. He keeps an Overweight rating on Wyndham Hotels & Resorts.
12/24/18
STFL
12/24/18
NO CHANGE
Target $62
STFL
Buy
Wyndham Hotels & Resorts price target lowered to $62 from $68 at Stifel
Stifel analyst Simon Yarmak lowered his price target for Wyndham Hotels & Resorts to $62 despite slightly raising his estimates for Q4, 2019 and 2020. The analyst keeps a Buy rating on the shares. To reflect a "slightly better quarter in the U.S.," the analyst raised his Q4 earnings per share estimate to $2.71 from $2.70, 2019 estimate to $3.32 from $3.30 and 2020 estimate to $3.71 from $3.70. The shares are undervalued and will likely outperform next year, Yarmak tells investors in a research note.
01/14/19
NOMU
01/14/19
UPGRADE
Target $52
NOMU
Buy
Wyndham Destinations upgraded to Buy with $52 target at Nomura Instinet
Nomura Instinet analyst Harry Curtis upgraded Wyndham Destinations (WYND) to Buy from Neutral and raised his price target for the shares to $52 from $51.45. Following the spinoff of Wyndham Hotels & Resorts (WH), the analyst sees upside to EBITDA and earnings outlooks from lower loan-loss provisions, new sales leads, and share repurchases.
06/12/19
BOFA
06/12/19
INITIATION
Target $62
BOFA
Buy
Wyndham Hotels & Resorts initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Shaun Kelley initiated Wyndham Hotels & Resorts with a Buy and $62 price target citing the company's "heavy" franchise exposure, upside from low-end chain scale outperformance, and La Quinta acquisition benefits.
MSON Misonix
$24.12

(0.00%)

08/24/18
ADAM
08/24/18
INITIATION
Target $24
ADAM
Buy
Misonix initiated with a Buy at Canaccord
Canaccord analyst Kyle Rose initiated Misonix with a Buy rating as he believes it has the makings of a classic micro/small-cap med-tech execution story, with an established technology, strong pipeline, and large TAM underpinning the transition to a direct sales channel and recurring revenue business model. Rose has a $24 price target on Misonix shares.
09/11/18
CHLM
09/11/18
INITIATION
Target $28
CHLM
Buy
Misonix initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Alexander Nowak started Misonix with a Buy rating and $28 price target. The analyst notes that Misonix develops and commercializes a range of ultrasonic surgical tools for use in orthopedics and wound debridement, which he believes are the next evolution in surgical tools and could become standard of care in ORs due to their unique benefits over traditional surgical equipment.
06/12/19
BTIG
06/12/19
INITIATION
Target $29
BTIG
Buy
Misonix initiated with a Buy at BTIG
BTIG initiated Misonix with a Buy rating and a price target of $29, saying the company's expanded product range following its recent acquisition of Solsys Medical gives it "all the pieces" to generate sustainable growth of over 20%. The analyst also notes that Misonix offers the potential to address "large market opportunities", its larger sales force has the capacity to cross-sell, and its management brings a "history of consistent execution." Longer term, the analyst further notes that the company's Nexus platform can bring its ultrasonic technology into new markets like sports medicine and plastic surgery.
AVTR Avantor
$17.66

-0.02 (-0.11%)

06/11/19
JEFF
06/11/19
INITIATION
Target $21
JEFF
Buy
Avantor initiated with a Buy at Jefferies
Jefferies analyst Brandon Couillard started Avantor with a Buy rating and $21 price target. The analyst views the current valuation as "compelling" and sees potential for or multiple expansion as the company demonstrates "further steady execution."
06/11/19
FBCO
06/11/19
INITIATION
Target $20
FBCO
Outperform
Avantor initiated with an Outperform at Credit Suisse
Credit Suisse analyst Erin Wilson Wright started coverage of Avantor with an Outperform rating and $20 price target. The analyst believes the company is highly levered to healthy industry fundamentals, and drivers in rising biopharma demand, innovation, geographic expansion, and improving operational efficiency should support 5%-8%-plus top-line growth and double-digit earnings growth over the next five years.
06/11/19
BARD
06/11/19
INITIATION
Target $20
BARD
Outperform
Avantor initiated with an Outperform at Baird
Baird analyst Catherine Ramsey Schulte initiated Avantor with an Outperform as it is a leading provider of products and services across biopharma, healthcare, education and government, and advanced technologies and applied materials end markets. Ramsey Schulte has a $20 price target on Avantor shares.
06/12/19
RAJA
06/12/19
INITIATION
Target $20
RAJA
Outperform
Avantor initiated with an Outperform at Raymond James
Raymond James initiated Avantor with an Outperform and $20 price target.
FSLY Fastly
$22.45

-0.425 (-1.86%)

06/11/19
BOFA
06/11/19
INITIATION
Target $26
BOFA
Buy
Fastly initiated with a Buy at BofA/Merrill
BofA Merrill Lynch analyst Tal Liani initiated Fastly with a Buy rating and a $26 price target. He thinks the company's specialized content delivery network, or CDN, and Software-as-a-Service usage-based revenue model can lead to greater than 30% annual revenue growth for the next three years while gross margins can also rise to 63% in 2021.
06/11/19
BARD
06/11/19
INITIATION
Target $28
BARD
Outperform
Fastly initiated with an Outperform at Baird
Baird analyst William Power initiated Fastly with an Outperform saying it is a software-centric leader in delivering dynamic content via a global edge network, with future upside form security and edge computing. Power has a $28 price target on Fastly shares.
06/11/19
FBCO
06/11/19
INITIATION
Target $25
FBCO
Outperform
Fastly initiated with an Outperform at Credit Suisse
Credit Suisse analyst Brad Zelnick started coverage of Fastly with an Outperform rating and $25 price target. The analyst sees Fastly as well positioned to capitalize on a paradigm shift in computing, as application logic and content increasingly migrate to the "Edge." The analyst believes the demand for "Edge Clouds" is "underappreciated." Further, Zelnick sees Fastly's developer appeal driving share gains in the established Content Delivery Network market medium term, while its programmability positions it for leadership of the nascent but fast growing edge compute opportunity longer-term.
06/12/19
SBSH
06/12/19
INITIATION
Target $23
SBSH
Neutral
Fastly initiated with a Neutral at Citi
Citi analyst Walter Pritchard started Fastly with a Buy rating and $23 price target. The market may be giving Fastly too much credit for future opportunity in "edge cloud" in what is largely a "share-gaining CDN business today," Pritchard tells investors in a research note. Further, a cash flow-based valuation is "challenging," given Fastly's "generally lower margins," adds the analyst.

TODAY'S FREE FLY STORIES

STIM

Neuronetics

$11.41

-0.11 (-0.95%)

05:21
06/18/19
06/18
05:21
06/18/19
05:21
Recommendations
Neuronetics analyst commentary  »

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LGF.B

Lionsgate

$11.30

-0.04 (-0.35%)

, LGF

Use LGF.A, LGF.B

$0.00

(0.00%)

05:17
06/18/19
06/18
05:17
06/18/19
05:17
Recommendations
Lionsgate, Use LGF.A, LGF.B analyst commentary  »

Lionsgate price target…

LGF.B

Lionsgate

$11.30

-0.04 (-0.35%)

LGF

Use LGF.A, LGF.B

$0.00

(0.00%)

03/08/13
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03/08/13
Credit Suisse
03/06/13
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03/06/13
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VRAY

ViewRay

$8.96

0.215 (2.46%)

05:14
06/18/19
06/18
05:14
06/18/19
05:14
Initiation
ViewRay initiated  »

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03/08/13
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DLAKY

Lufthansa

$0.00

(0.00%)

05:12
06/18/19
06/18
05:12
06/18/19
05:12
Downgrade
Lufthansa rating change  »

Lufthansa downgraded to…

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

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EVRZF

Evraz

$0.00

(0.00%)

05:11
06/18/19
06/18
05:11
06/18/19
05:11
Downgrade
Evraz rating change  »

Evraz downgraded to Hold…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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EVRZF

Evraz

$0.00

(0.00%)

05:10
06/18/19
06/18
05:10
06/18/19
05:10
Downgrade
Evraz rating change  »

Evraz downgraded to Sell…

03/08/13
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03/08/13
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03/06/13
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03/06/13
Barclays

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USM

U.S. Cellular

$44.15

0.375 (0.86%)

05:09
06/18/19
06/18
05:09
06/18/19
05:09
Upgrade
U.S. Cellular rating change  »

U.S. Cellular upgraded to…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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TDS

Telephone and Data

$29.21

-0.11 (-0.38%)

05:08
06/18/19
06/18
05:08
06/18/19
05:08
Upgrade
Telephone and Data rating change  »

Telephone and Data…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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ESS

Essex Property Trust

$302.21

3.03 (1.01%)

05:07
06/18/19
06/18
05:07
06/18/19
05:07
Downgrade
Essex Property Trust rating change  »

Essex Property Trust…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 10

    Jul

  • 11

    Jul

CFPZF

Canfor

$0.00

(0.00%)

05:06
06/18/19
06/18
05:06
06/18/19
05:06
Upgrade
Canfor rating change  »

Canfor upgraded 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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WFTBF

West Fraser Timber

$0.00

(0.00%)

05:05
06/18/19
06/18
05:05
06/18/19
05:05
Upgrade
West Fraser Timber rating change  »

West Fraser Timber…

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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RFP

Resolute Forest

$6.12

0.015 (0.25%)

05:05
06/18/19
06/18
05:05
06/18/19
05:05
Upgrade
Resolute Forest rating change  »

Resolute Forest upgraded…

03/08/13
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03/08/13
Credit Suisse
03/06/13
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03/06/13
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DLAKY

Lufthansa

$0.00

(0.00%)

05:03
06/18/19
06/18
05:03
06/18/19
05:03
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Lufthansa rating change  »

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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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ACCYY

Accor

$0.00

(0.00%)

05:02
06/18/19
06/18
05:02
06/18/19
05:02
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Accor rating change  »

Accor upgraded 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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SNY

Sanofi

$42.65

0.19 (0.45%)

05:01
06/18/19
06/18
05:01
06/18/19
05:01
Downgrade
Sanofi rating change  »

Sanofi downgraded to Hold…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 26

    Jun

  • 16

    Sep

AXELF

Axel Springer

$0.00

(0.00%)

04:59
06/18/19
06/18
04:59
06/18/19
04:59
Downgrade
Axel Springer rating change  »

Axel Springer downgraded…

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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OTSKY

Otsuka

$0.00

(0.00%)

04:58
06/18/19
06/18
04:58
06/18/19
04:58
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Otsuka rating change  »

Otsuka downgraded 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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LEN

Lennar

$53.01

-0.54 (-1.01%)

04:56
06/18/19
06/18
04:56
06/18/19
04:56
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Lennar rating change  »

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03/08/13
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03/08/13
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03/06/13
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  • 25

    Jun

KBH

KB Home

$26.21

-0.24 (-0.91%)

04:56
06/18/19
06/18
04:56
06/18/19
04:56
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KB Home rating change  »

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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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  • 26

    Jun

VZ

Verizon

$57.63

-0.65 (-1.12%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Verizon to host sell side analyst meeting »

Analyst meeting to be…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 18

    Jun

  • 20

    Jun

  • 26

    Jun

  • 27

    Jun

  • 09

    Jul

  • 01

    Aug

CVS

CVS Health

$54.52

0.34 (0.63%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
CVS Health participates in a conference call with JPMorgan »

Healthcare Technology…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Jun

  • 18

    Jun

ARWR

Arrowhead

$26.43

0.62 (2.40%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Arrowhead management to meet with Piper Jaffray »

Meeting to be held in San…

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

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  • 18

    Jun

HRB

H&R Block

$28.34

-0.35 (-1.22%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
H&R Block management to meet with Northcoast »

Meeting to be held in…

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

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  • 18

    Jun

  • 16

    Jul

GIII

G-III Apparel

$25.67

-0.03 (-0.12%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
G-III Apparel management to meet with KeyBanc »

Meeting to be held in New…

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

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  • 18

    Jun

  • 09

    Jul

DEI

Douglas Emmett

$41.86

0.595 (1.44%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Douglas Emmett management to meet with KeyBanc »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 18

    Jun

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