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JWN

Nordstrom

$32.21

-0.57 (-1.74%)

, UAA

Under Armour

$25.08

0.18 (0.72%)

06:40
06/27/19
06/27
06:40
06/27/19
06:40

Goldman downgrades Nordstrom to Sell, cuts price target to $30 from $37

Goldman Sachs analyst Alexandra Walvis downgraded Nordstrom (JWN) to Sell from Neutral and lowered her price target for the shares to $30 from $37. The analyst is taking a "conservative stance" on the retail sector. The headwinds in Q2 have proven persistent, says the analyst, who sees risk that a second half of the year inflection in earnings growth may not materialize for many companies. Walvis recommends a selective approach in Apparel and prefers stocks with "clear" second half catalysts or strategic actions to drive momentum. She reiterates Buy ratings on both Under Armour (UAA) and Tapestry (TPR) and downgraded both Nordstrom and Ross Stores (ROST) to Sell. She believes Nordstrom's ongoing "comp headwinds" in full line and off price stores are compounded by its ongoing strategic investments and the opening of the company's flagship in New York City.

JWN

Nordstrom

$32.21

-0.57 (-1.74%)

UAA

Under Armour

$25.08

0.18 (0.72%)

UA

Under Armour

$22.08

0.22 (1.01%)

TPR

Tapestry

$30.76

0.575 (1.90%)

ROST

Ross Stores

$102.41

0.87 (0.86%)

JWN Nordstrom
$32.21

-0.57 (-1.74%)

05/22/19
WEDB
05/22/19
NO CHANGE
Target $35
WEDB
Neutral
Nordstrom price target lowered to $35 from $40 at Wedbush
Wedbush analyst Jen Redding lowered her price target for Nordstrom to $35 from $40 after the company reported "disappointing" Q1 results and a "dismal outlook." While the analyst believes that it is within management's ability to rectify issues, with all data points inflecting negatively so quickly, deterioration continuing into May, and investors adjusting to less visibility on the horizon, she sees the turnaround as likely paused for now. Redding reiterates a Neutral rating on the shares.
05/23/19
COWN
05/23/19
NO CHANGE
Target $36
COWN
Market Perform
Nordstrom price target lowered to $36 from $44 at Cowen
Cowen analyst Oliver Chen said after Nordstrom's earnings report that he expects Full-Price revenue weakness will likely persist for at least another quarter, adding that challenges there at in the Rack segment "appear to be self-inflicted." Given the company's lowered guidance, he thinks the shares are likely to remain range-bound. Chen keeps a Market Perform rating on Nordstrom and lowered his price target on the shares to $36 from $44.
06/20/19
GDHS
06/20/19
UPGRADE
GDHS
Hold
Nordstrom upgraded to Hold from Reduce at Gordon Haskett
Gordon Haskett analyst Chuck Grom upgraded Nordstrom to Hold from Reduce saying the risk/reward is more balanced following the stock's 24% pullback.
06/27/19
GSCO
06/27/19
DOWNGRADE
Target $30
GSCO
Sell
Nordstrom downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis downgraded Nordstrom to Sell from Neutral and lowered her price target for the shares to $30 from $37.
UAA Under Armour
$25.08

0.18 (0.72%)

05/17/19
JPMS
05/17/19
UPGRADE
Target $29
JPMS
Overweight
JPMorgan upgrades Under Armour to Overweight with $29 price target
JPMorgan analyst Matthew Boss upgraded Under Armour to Overweight from Neutral and raised his price target for the shares to $29 from $23. The shares closed yesterday up 52c to $21.88. After meeting with management including CEO Kevin Plank, Boss says the clear tone from the top was "controlled confidence" in the brand direction with "disciplined" fiscal 2020 global top- and bottom-line growth acceleration. This will be driven by the combination of product, innovation, and marketing after management's three-year strategic "shrink phase" completed exiting fiscal 2019, Boss tells investors in a research note. He believes this translates into a favorable multi-year risk/reward on shares of Under Armour.
05/17/19
JPMS
05/17/19
UPGRADE
Target $29
JPMS
Overweight
Under Armour upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Matthew Boss upgraded Under Armour to Overweight from Neutral and raised his price target for the shares to $29 from $23.
05/17/19
05/17/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Foot Locker (FL) upgraded to Buy from Neutral at B. Riley FBR with analyst Susan Anderson saying she views Foot Locker as a "best-in-class" footwear retailer and sees an attractive entry point at current valuation levels. 2. Under Armour (UA, UAA) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss citing his meeting with management, including CEO Kevin Plank, and saying the clear tone from the top was "controlled confidence" in the brand direction with "disciplined" fiscal 2020 global top- and bottom-line growth acceleration. 3. Philip Morris (PM) upgraded to Neutral from Underperform at BofA/Merrill with analyst Lisa Lewandowski saying IQOS, the company's heated tobacco product, is gaining traction in several European and Asian markets, the FDA approved the pre-market application for the sale of IQOS in the U.S., and management has reset IQOS commercialization expectations, among other reasons. 4. Walmart (WMT) upgraded to Accumulate from Hold at Gordon Haskett with analyst Chuck Grom saying he believes the company's EBIT gains in the U.S. will continue. 5. United Therapeutics (UTHR) upgraded to Neutral from Sell at UBS with analyst Carter Gould saying that after a 26% stock price decline since late March, when Sandoz launched generic Remodulin, the risk reward on the stock has become more balanced. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/24/19
PIPR
06/24/19
NO CHANGE
PIPR
Piper Jaffray confident in Under Armour management, prospects
In a research note from before the market opened, Piper Jaffray analyst Erinn Murphy reiterated an Overweight rating and $30 price target on Under Armour. The analyst said that travels with management last week left her positive on the company's turnaround and pivot to growth. Murphy highlighted three things from her time with management -- that North America had stabilized, with 2020 being a bigger opportunity for this region; that management feels strongly about the 3-4 year innovation pipeline it has planned; and that there will be a renewed marketing focus with a brand campaign late in 2019.
UA Under Armour
$22.08

0.22 (1.01%)

05/14/19
COWN
05/14/19
NO CHANGE
COWN
Skechers, G-III among apparel names with outsized tariff risk, says Cowen
Cowen analyst John Kernan said 34% of apparel and about 70% of footwear imported into the U.S. come from China, adding that 25% tariffs on apparel and footwear will create "major disruption" at a time when companies are already facing accelerating disruption from technology and Amazon (AMZN). The analyst, who thinks diversifying from China sourcing will be slow, said he views Skechers (SKX), G-III Apparel (GIII), Carter's (CRI), PVH Corp. (PVH) and Ralph Lauren (RL) as among the apparel stocks with outsized EPS risk. He added that he thinks companies like Under Armour (UAA), that may have lower than sector average exposure to China sourcing but also have lower EBIT margins, as faced with greater sensitivity to higher cost of goods.
TPR Tapestry
$30.76

0.575 (1.90%)

05/06/19
BARD
05/06/19
NO CHANGE
Target $43
BARD
Outperform
Tapestry facing 'tricky setup' ahead of earnings, says Baird
Baird analyst Mark Altschwager said he sees Tapestry facing a "tricky setup" ahead of its earnings report, stating that the company's conservative guidance is offset by risk to Q3 comp sales and gross margin estimates, especially at the Kate Spade brand. However, he also believes a lot of negativity is already priced in and continue to see an attractive risk/reward for investors who are "willing to let the story play out" over the next six to twelve months. Altschwager keeps an Outperform rating and $43 price target on Tapestry shares.
06/10/19
PIPR
06/10/19
NO CHANGE
Target $40
PIPR
Overweight
Piper Jaffray reiterates Overweight on Tapestry after management dinner
Piper Jaffray analyst Erinn Murphy reiterates an Overweight rating on Tapestry with a $40 price target after hosting an investor dinner with management. Management is confident in the multi-brand strategy and reiterated their view to achieve double-digit EBIT growth in fiscal 2020, Murphy tells investors in a research note. Further, Tapestry's trends overseas are "particularly strong" and the company is not seeing pressure in its China business, adds the analyst. She would also not be surprised if Tapestry started accelerating the use of its buyback authorization in the near-term given the current valuation of the stock.
05/09/19
STPT
05/09/19
UPGRADE
STPT
Buy
Tapestry upgraded to Buy from Hold at Standpoint Research
05/06/19
PIPR
05/06/19
NO CHANGE
Target $39
PIPR
Overweight
Tapestry shares near 'trough multiples' with 4% yield, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy says investor sentiment on Tapestry is negative and that while she does have "emerging questions on the multi-year positioning of the accessible luxury category," the shares are near "trough multiples" with a dividend yield of greater than 4%. She believes Tapestry will maintain positive double-digit earnings growth for fiscal 2020 and keeps an Overweight rating on the shares with a $39 price target. Further, Murphy thinks the company's fiscal Q3 results will be in-line with estimates.
ROST Ross Stores
$102.41

0.87 (0.86%)

06/27/19
GSCO
06/27/19
DOWNGRADE
Target $91
GSCO
Sell
Ross Stores downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis downgraded Ross Stores to Sell from Neutral and lowered her price target for the shares to $91 from $102.
06/24/19
TLSY
06/24/19
DOWNGRADE
Target $103
TLSY
Market Perform
Ross Stores downgraded to Market Perform from Outperform at Telsey Advisory
Telsey Advisory analyst Dana Telsey downgraded Ross Stores to Market Perform from Outperform as she believes it will take time to improve the execution and assortment of its ladies apparel business. Also, with the stock up nearly 10% since reporting its first quarter it has reached her price target of $103, Telsey noted.
05/14/19
05/14/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. MannKind (MNKD) initiated with a Buy, $3 price target at BTIG. 2. Ross Stores (ROST) and TJX (TJX) initiated with an Outperform at Baird. 3. Elastic (ESTC) initiated with a Hold at Stifel. 4. CytomX Therapeutics (CTMX) initiated with an Overweight at Cantor Fitzgerald. 5. FIS (FIS) initiated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/19
BARD
05/14/19
INITIATION
Target $108
BARD
Outperform
Ross Stores initiated with an Outperform at Baird
Baird analyst Mark Altschwager initiated Ross Stores with an Outperform rating and $108 price target, telling investors in a research note that "there is a lot to like" about the off-price retailer, including "strong" management, "consistent" comp growth and "healthy" margins. While recent executive turnover adds a risk factor, the analyst says he sees a "deep bench" and thinks shares offer a good "deal" for investors looking for a high-quality/growth retailer trading at reasonable valuation.

TODAY'S FREE FLY STORIES

UAL

United Continental

$94.00

2.7 (2.96%)

16:54
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UAL

United Continental

$94.00

2.7 (2.96%)

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UAL

United Continental

$94.00

2.7 (2.96%)

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FARO

Faro Technologies

$46.95

-1.27 (-2.63%)

16:47
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HWC

Hancock Whitney

$38.70

0.28 (0.73%)

16:47
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Earnings
Hancock Whitney reports Q2 EPS $1.01, consensus $1.00 »

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UAL

United Continental

$94.00

2.7 (2.96%)

16:44
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16:44
Hot Stocks
United Continental sees Q3 capacity growth 2%-3% y/y »

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  • 17

    Jul

16:39
07/16/19
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16:39
General news
API crude inventories for week of July 12 »

API reports that crude…

HOPE

Hope Bancorp

$13.96

0.2 (1.45%)

16:37
07/16/19
07/16
16:37
07/16/19
16:37
Earnings
Hope Bancorp reports Q2 EPS 34c, consensus 34c »

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  • 17

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INO

Inovio

$3.00

0.05 (1.69%)

16:35
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Hot Stocks
Breaking Hot Stocks news story on Inovio 

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IMRN

Immuron

$4.27

1.43 (50.35%)

16:32
07/16/19
07/16
16:32
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16:32
Syndicate
Immuron files to sell American Depositary Shares, no amount given »

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JPM

JPMorgan

$115.10

1.23 (1.08%)

, GS

Goldman Sachs

$215.57

4.02 (1.90%)

16:32
07/16/19
07/16
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16:32
On The Fly
Fly Intel: Wall Street's top stories for Tuesday »

The major averages were…

JPM

JPMorgan

$115.10

1.23 (1.08%)

GS

Goldman Sachs

$215.57

4.02 (1.90%)

JNJ

Johnson & Johnson

$132.46

-2.21 (-1.64%)

WFC

Wells Fargo

$45.30

-1.4 (-3.00%)

ARW

Arrow Electronics

$67.67

-1.15 (-1.67%)

TSLA

Tesla

$252.38

-1.03 (-0.41%)

APRN

Blue Apron

$10.33

2.68 (35.03%)

BYND

Beyond Meat

$172.50

5.9 (3.54%)

JBHT

J.B. Hunt

$97.76

5.26 (5.69%)

QTT

Qutoutiao

$4.31

-0.22 (-4.86%)

DPZ

Domino's Pizza

$246.55

-23.42 (-8.68%)

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PBYI

Puma Biotechnology

$10.78

-0.42 (-3.75%)

16:32
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Knight says Health Canada approves NERLYNX for early-stage breast cancer »

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FULT

Fulton Financial

$16.31

0.11 (0.68%)

16:31
07/16/19
07/16
16:31
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Earnings
Fulton Financial reports Q2 EPS 35c, consensus 34c »

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WAIR

Wesco Aircraft

$10.84

0.085 (0.79%)

16:30
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16:30
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Options
Preliminary option volume of 17.5M today »

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UBNK

United Financial

$14.07

0.05 (0.36%)

16:27
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Earnings
United Financial reports Q2 EPS (6c), consensus 24c »

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  • 17

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ERYP

Erytech Pharma

$6.69

(0.00%)

16:24
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Syndicate
Erytech Pharma files to sell $100M of ADSs »

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CSX

CSX

$79.57

1.05 (1.34%)

16:23
07/16/19
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Earnings
CSX sees FY19 revenue down 1%-2% vs. prior view of growth »

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INAP

Internap

$3.56

0.13 (3.79%)

16:22
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Hot Stocks
Internap to streamline organization, initiates search for new CFO »

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FNF

Fidelity National

$41.57

0.02 (0.05%)

16:21
07/16/19
07/16
16:21
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16:21
Earnings
Fidelity National reports Q2 adjusted EPS 92c, consensus 87c »

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RM

Regional Management

$26.62

-0.28 (-1.04%)

16:20
07/16/19
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Hot Stocks
Regional Management appoints Robert Beck CFO »

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  • 13

    Nov

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
07/16/19
07/16
16:20
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16:20
Options
Closing CBOE SPX and VIX Index summary for July 16th »

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WLL

Whiting Petroleum

$15.54

-0.65 (-4.01%)

16:19
07/16/19
07/16
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16:19
Hot Stocks
Whiting Petroleum names Correne S. Loeffler CFO »

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UAL

United Continental

$94.00

2.7 (2.96%)

16:19
07/16/19
07/16
16:19
07/16/19
16:19
Hot Stocks
Breaking Hot Stocks news story on United Continental »

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  • 17

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CSX

CSX

$79.57

1.05 (1.34%)

16:19
07/16/19
07/16
16:19
07/16/19
16:19
Hot Stocks
Breaking Hot Stocks news story on CSX »

CSX Q2 CapEx down to…

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