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GRUB

GrubHub

$72.91

2.96 (4.23%)

, UBER

Uber

$44.31

2.16 (5.12%)

07:25
06/14/19
06/14
07:25
06/14/19
07:25

GrubHub debt issue points to 'aggressive competition,' says Deutsche Bank

Deutsche Bank analyst Kunal Madhukar believes GrubHub's (GRUB) recent $500M debt issue likely signifies "more aggressive competition" within the food delivery space in the U.S. The food delivery market, especially outside of the large cities like New York and Chicago where GrubHub dominates, is growing largely because of the aggressive investments made by Doordash and Uber Eats (UBER) in the delivery infrastructure and in promotional offers, Madhukar tells investors in a research note. He keeps a Hold rating on GrubHub shares.

GRUB

GrubHub

$72.91

2.96 (4.23%)

UBER

Uber

$44.31

2.16 (5.12%)

  • 27

    Jun

GRUB GrubHub
$72.91

2.96 (4.23%)

06/12/19
MZHO
06/12/19
NO CHANGE
Target $100
MZHO
Buy
GrubHub likely an attractive takeover target for Amazon, says Mizuho
Mizuho analyst Jeremy Scott says the Wall Street Journal's report that Amazon.com (AMZN) is dropping its restaurant delivery platform in the U.S. underscores his view that the market will eventually consolidate to two-to-three players. The shuttering of the platform doesn't necessarily mean that Amazon won't eventually invest in the space, but it at least temporarily removes the "existential threat of an aggressive organic expansion" and, in turn, positions the company as a potential acquirer, Scott told investors yesterday in a research note. He believes Amazon's recent investment in U.K. delivery company Deliveroo signals the company continues to actively participate in the space. Grubhub (GRUB) is likely an attractive takeover target, says Scott. However, the analyst continues to believe there are more effective combinations for Grubhub that can better enable the company to "carve an inside track of restaurant-centric, enterprise solutions." He keeps a Buy rating on Grubhub shares with a $100 price target. The stock closed yesterday up 8%, or $5.33, to $70.06.
06/12/19
GUGG
06/12/19
NO CHANGE
Target $120
GUGG
Buy
GrubHub competitive positioning helped in two ways this week, says Guggenheim
GrubHub (GRUB) has seen its competitive positioning improved in two ways this week, said Guggenheim analyst Matthew DiFrisco, who points to reports that Amazon (AMZN) is shuttering Amazon Restaurants in the U.S. and the company's announcement that it raised $500M of unsecured debt.While Amazon Restaurants didn't establish meaningful market share in any major market, the exit removes a potential investor of incremental capital into the food delivery category and further substantiates the hyperlocal barriers to entry, according to DiFrisco. After he the debt offering, the analyst estimates the company will have about $150M of additional cash that it can use for opportunistic investments that could be accretive to growth, he added. DiFrisco reiterated GrubHub as his Best Idea with a $120 price target and Buy rating.
06/12/19
WEDB
06/12/19
NO CHANGE
Target $100
WEDB
Outperform
GrubHub best positioned amid Amazon Restaurants shutdown, says Wedbush
Wedbush analyst Ygal Arounian notes that Amazon (AMZN) announced that it will shut down Amazon Restaurants in the U.S., which he views as further evidence that rationality is creeping into the U.S. 3P food takeout market. The analyst sees GrubHub (GRUB) as the best positioned to maintain/regain strength in this environment, as it is the only U.S. third-party takeout provider that is profitable and has always been rational in only adding LTV positive customers. Arounian reiterates an Outperform rating and $100 price target on GrubHub's shares, but adds that he sees "significant room" for multiple expansion if investors regain confidence in this sector.
06/12/19
BOFA
06/12/19
NO CHANGE
Target $108
BOFA
Buy
Less competition for GrubHub amid Amazon Restaurants exit, says BofA/Merrill
Amazon's (AMZN) discontinuation of its U.S. restaurant delivery service removes the threat to GrubHub (GRUB) of Amazon expanding its online food delivery business organically, BofA/Merrill analyst Nat Schindler tells investors in a research note. Schindler notes that online food delivery is a large, fragmented, and rapidly evolving market with significant capital infusion from public and private investors, and Amazon may be shifting from "build" to "partner or buy" in this market. The analyst contends that while GrubHub has lost some market share recently, he sees growth as healthy overall, and says the disconnect between rising private valuations and recent declines in GrubHub's market cap may create an opportunity.
UBER Uber
$44.31

2.16 (5.12%)

06/12/19
EVER
06/12/19
INITIATION
Target $60
EVER
Outperform
Uber initiated with an Outperform at Evercore ISI
Evercore ISI started Uber Technologies with an Outperform rating and $60 price target.
06/12/19
EVER
06/12/19
INITIATION
EVER
Outperform
Evercore starts Lyft and Uber at Outperform, sees 'powerful' near-term catalysts
Evercore ISI analyst Benjamin Black initiated coverage of both Lyft (LYFT) and Uber Technologies (UBER) with Outperform ratings. The analyst put a $74 price target on Lyft and a $60 price target on Uber. The stocks closed today up 34c to $58.41 and down 35c to $42.17, respectively. The ride-hailing space has "powerful" near-term catalysts, which could drive a re-rating of both stocks, Black tells investors in a research note. The pricing environment is "quietly improving," incentives are maturing, and both Uber and Lyft can hit profitability sooner than consensus expectations, says Black.
06/13/19
MSCO
06/13/19
NO CHANGE
Target $56
MSCO
Overweight
UK competition headlines may be worse than real Uber threat, says Morgan Stanley
Morgan Stanley analyst Brian Nowak noted recent press reports indicating that Eastern European-based ridesharing company Bolt launched in London this week and that India-based ridesharing player Ola plans a London launch by the end of the year. The London market is believed to be a high-margin territory for Uber, but the "headlines may be worse than the reality of the threat," said Nowak, who questions how long the competitors may be willing and able to fund a market share battle there. However, if a market share battle does ensue, it is a risk to Uber, said Nowak, who recommends watching app user data to see if consumers adopt the new entrants and, if so, how quickly. For now, he keeps an Overweight rating and $56 price target on Uber shares.
06/13/19
06/13/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Zillow (ZG) initiated with a Neutral at Piper Jaffray. 2. WPX Energy (WPX) initiated with a Buy at MKM Partners. 3. Lyft (LYFT) and Uber (UBER) were initiated with an Outperform at Evercore ISI. 4. Sea Limited (SE) initiated with an Overweight at JPMorgan. 5. Pinduoduo (PDD) initiated with a Buy at Benchmark. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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SPY

SPDR S&P 500 ETF Trust

$292.64

0.31 (0.11%)

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S&P 500

$0.00

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14:43
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Powell says 'law is clear I have a 4-year term,' 'fully intend to serve it' »

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Stephens retail/broadlines analyst to hold a luncheon meeting »

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DIS

Disney

$140.09

0.88 (0.63%)

14:41
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More layoffs from Disney and 20th Century Fox film divisions, Variety reports »

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SPY

SPDR S&P 500 ETF Trust

$292.48

0.15 (0.05%)

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14:40
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Powell says will be monitoring 'cross-currents,' but would 'like to see more' »

"Many" on the…

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Analysts hold a…

AAPL

Apple

$198.16

-0.36 (-0.18%)

, GS

Goldman Sachs

$195.66

0.68 (0.35%)

14:38
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14:38
Periodicals
Apple expanding Goldman Sachs card test, Bloomberg reports »

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AAPL

Apple

$198.16

-0.36 (-0.18%)

GS

Goldman Sachs

$195.66

0.68 (0.35%)

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RHHBY

Roche

$0.00

(0.00%)

14:38
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14:38
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Wolfe Research pharma analyst to hold an analyst/industry conference call »

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SPY

SPDR S&P 500 ETF Trust

$292.77

0.44 (0.15%)

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S&P 500

$0.00

(0.00%)

14:37
06/19/19
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14:37
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Powell says must rely on 'imperfect' inflation expectation proxies »

Fed Chair Powell said…

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SPDR S&P 500 ETF Trust

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GRUB

GrubHub

$71.04

-0.13 (-0.18%)

, YELP

Yelp

$32.80

-0.13 (-0.39%)

14:36
06/19/19
06/19
14:36
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Conference/Events
Wedbush SMid Internet analyst to hold a luncheon meeting »

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GRUB

GrubHub

$71.04

-0.13 (-0.18%)

YELP

Yelp

$32.80

-0.13 (-0.39%)

BWLD

Taken private 2/18

$0.00

(0.00%)

CAKE

Cheesecake Factory

$44.35

-1.2 (-2.63%)

BJRI

BJ's Restaurants

$41.00

-1.6 (-3.76%)

CMG

Chipotle

$731.31

-1.41 (-0.19%)

JACK

Jack in the Box

$84.75

-1.61 (-1.86%)

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14:35
06/19/19
06/19
14:35
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14:35
General news
FOMC forecast Revisions »

FOMC forecast Revisions…

SPY

SPDR S&P 500 ETF Trust

$293.00

0.67 (0.23%)

, SPX

S&P 500

$0.00

(0.00%)

14:33
06/19/19
06/19
14:33
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14:33
General news
Powell says Fed made 'significant' changes to policy statement »

Fed Chair Jerome Powell…

SPY

SPDR S&P 500 ETF Trust

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0.67 (0.23%)

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INGN

Inogen

$70.97

-0.13 (-0.18%)

14:32
06/19/19
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14:32
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14:32
Conference/Events
William Blair medical tech analyst to hold a luncheon »

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BJRI

BJ's Restaurants

$41.14

-1.46 (-3.43%)

, CAKE

Cheesecake Factory

$44.50

-1.05 (-2.31%)

14:29
06/19/19
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14:29
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14:29
Conference/Events
Wedbush restaurants analyst to hold an analyst/industry conference call »

Restaurants Analyst…

BJRI

BJ's Restaurants

$41.14

-1.46 (-3.43%)

CAKE

Cheesecake Factory

$44.50

-1.05 (-2.31%)

CMG

Chipotle

$729.53

-3.19 (-0.44%)

DIN

Dine Brands

$95.61

-0.39 (-0.41%)

DRI

Darden

$117.36

-0.58 (-0.49%)

JACK

Jack in the Box

$84.90

-1.46 (-1.69%)

SBUX

Starbucks

$83.34

0.39 (0.47%)

TXRH

Texas Roadhouse

$52.30

-1.07 (-2.00%)

WEN

Wendy's

$19.44

0.03 (0.15%)

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14:27
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Conference/Events
William Blair financial services/insurance analyst to hold a luncheon »

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CTSH

Cognizant

$63.45

-0.27 (-0.42%)

14:25
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Options
Cognizant call volume above normal and directionally bullish »

Bullish option flow…

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14:25
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General news
More from the FOMC: a couple of other tweaks the statement »

More from the FOMC: a…

14:24
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CLSA Asian tech analysts to hold an analyst/industry conference call »

Asian Technology Analysts…

UNH

UnitedHealth

$250.20

4.55 (1.85%)

, DVA

DaVita

$51.25

1.49 (2.99%)

14:23
06/19/19
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14:23
Periodicals
Breaking Periodicals news story on UnitedHealth, DaVita »

FTC set to approve sale…

UNH

UnitedHealth

$250.20

4.55 (1.85%)

DVA

DaVita

$51.25

1.49 (2.99%)

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TSLA

Tesla

$227.28

2.6 (1.16%)

14:22
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Hot Stocks
Tesla CEO says $1,000 charge for black vehicles to start next month »

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GOOG

Alphabet

$1,105.94

1.54 (0.14%)

, GOOGL

Alphabet Class A

$1,107.59

2.37 (0.21%)

14:21
06/19/19
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14:21
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14:21
Periodicals
FTC in late stages of YouTube probe over children content, Washington Post says »

The Federal Trade…

GOOG

Alphabet

$1,105.94

1.54 (0.14%)

GOOGL

Alphabet Class A

$1,107.59

2.37 (0.21%)

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SYNL

Synalloy

$16.52

-0.27 (-1.61%)

14:21
06/19/19
06/19
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Earnings
Synalloy lowers FY19 revenue view to $329M from prior $340M »

Adjusted EBITDA for the…

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CVS

CVS Health

$55.26

0.6 (1.10%)

14:20
06/19/19
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CVS Health participates in a conference call with Morgan Stanley »

Healthcare Technology…

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  • 20

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14:20
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General news
FX Action: The dollar »

FX Action: The dollar…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
06/19/19
06/19
14:17
06/19/19
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
06/19/19
06/19
14:16
06/19/19
14:16
Technical Analysis
NYSE market internals summary »

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