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ABBV

AbbVie

$68.00

2.37 (3.61%)

, AGN

Allergan

$164.27

1.67 (1.03%)

09:30
06/27/19
06/27
09:30
06/27/19
09:30

AbbVie upgraded to Peer Perform from Underperform at Wolfe Research

Wolfe Research analyst Tim Anderson upgraded AbbVie (ABBV) to Peer Perform from Underperform following the pullback in shares that followed the company's announcement of an agreement to acquire Allergan (AGN). However, Anderson lowered his price target on AbbVie shares to $74 from $84.

ABBV

AbbVie

$68.00

2.37 (3.61%)

AGN

Allergan

$164.27

1.67 (1.03%)

  • 09

    Sep

  • 16

    Sep

ABBV AbbVie
$68.00

2.37 (3.61%)

06/26/19
06/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Buy from Neutral at Mizuho with analyst Paul Sankey saying he sees the company being among the best-positioned for the "new E&P model" after having taken major steps to improve unit cash margins via divestitures and liquids-led unconventional growth while reducing fixed cost burdens by undertaking major debt reduction and share buybacks. 2. Micron (MU) upgraded to Buy from Hold at Needham with analyst Rajvindra Gill saying that with an improved DRAM outlook for the second half of 2019, significant CapEx cuts coming in fiscal 2020, and a stabilizing book value per share of $31.89, he believes believe there is limited downside risk over the next 6-12 months. 3. AbbVie (ABBV) upgraded to Outperform from Market Perform at SVB Leerink with analyst Geoffrey Porges citing the "surprise" Allergan (AGN) acquisition announcement, and the stock's 16%-plus selloff intraday. 4. Upwork (UPWK) upgraded to Buy from Hold at Jefferies with analyst Brent Thill citing the stock's 17% year-to-date decline, which he believes has improved the risk/reward balance for the stock. 5. Western Digital (WDC) upgraded to Buy from Hold at Craig-Hallum with analyst Christian Schwab citing Micron's (MU) positive commentary and announced steps targeting supply growth discipline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/19
06/26/19
UPGRADE
Target $88

Outperform
AbbVie upgraded to Outperform after Allergan acquisition at SVB Leerink
As previously reported, SVB Leerink analyst Geoffrey Porges upgraded AbbVie (ABBV) to Outperform from Market Perform, with an $88 price target, after the "surprise" Allergan (AGN) acquisition announcement, and the stock's 16%-plus selloff intraday. The analyst notes that the loss of value in AbbVie exceeded the value of the premium the company's offer put on Allergan's value prior to the announcement. Porges also cited AbbVie's new dividend yield of 6.5%, the sustainability and likely growth of that dividend through 2023 and the high probability that AbbVie will extract even more synergies from Allergan than was suggested.
06/26/19
SBSH
06/26/19
NO CHANGE
SBSH
Neutral
AbbVie synergies target for Allergan deal looks achievable, says Citi
Citi analyst Andrew Baum said he believes AbbVie's (ABBV) roughly $2B synergies target for its deal with Allergan (AGN) looks achievable and he thinks the takeover plugs the Humira revenue hole and likely generates long term sustainable growth through Allergan's aesthetic franchise. While he is "more relaxed" about longer-term risks, including AbbVie's potential to underinvest or mismanage the aesthetics business or erosion of Botox market share, he sees near-term risks that include the impact of a potential U.S. Enbrel biosimilar launch on Humira revenues, and therefore AbbVie's credit rating, as well as Allergan's near-term non-GAAP outlook given the company's "poor guidance track record." Baum keeps a Neutral rating on AbbVie shares.
06/26/19
LEER
06/26/19
UPGRADE
LEER
Outperform
AbbVie upgraded to Outperform from Market Perform at SVB Leerink
AGN Allergan
$164.27

1.67 (1.03%)

06/26/19
06/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. State Street (STT) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying he has "very little confidence" in when the company will be able to get past the headwinds it is facing. 2. Allergan (AGN) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying she views the AbbVie (ABBV) deal as "a hard-fought and timely exit" for shareholders, citing her concerns about the weakness in Allergan's aesthetics portfolio and the company's growth challenges. 3. Kinder Morgan (KMI) downgraded to Market Perform from Outperform at Raymond James with analyst Justin Jenkins saying shares are up approximately 35% year-to-date and trade at an above-peer multiple despite a mixed outlook for the asset portfolio. 4. Papa John's (PZZA) downgraded to Neutral from Buy at Kalinowski. 5. Illinois Tool Works (ITW) downgraded to Sell from Neutral at Northcoast with the firm's analyst citing concentrated Automotive exposure. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/19
MZHO
06/26/19
DOWNGRADE
Target $188
MZHO
Neutral
Allergan downgraded to Neutral from Buy at Mizuho
Mizuho analyst Irina Koffler downgraded Allergan (AGN) to Neutral from Buy and raised her price target on the stock to $188 from $171 after AbbVie (ABBV) announced a cash-and-stock deal to buy the company. She views the deal as "a hard-fought and timely exit" for shareholders, citing her concerns about the weakness in Allergan's aesthetics portfolio and the company's growth challenges.

TODAY'S FREE FLY STORIES

TCEHY

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PYPL

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, V

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-1.34 (-0.74%)

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PYPL

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USB

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$54.98

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SBNY

Signature Bank

$123.87

1.07 (0.87%)

KEY

KeyCorp

$17.45

0.15 (0.87%)

03/08/13
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CMG

Chipotle

$746.80

-17.43 (-2.28%)

08:24
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BYND

Beyond Meat

$176.65

6.28 (3.69%)

07:40
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NFLX

Netflix

$315.10

-10.04 (-3.09%)

07:37
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  • 03

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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

, TGT

Target

$88.02

-0.48 (-0.54%)

07:34
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Periodicals
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AMZN

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$1,964.78

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TGT

Target

$88.02

-0.48 (-0.54%)

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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

, FDX

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$167.08

1.69 (1.02%)

07:31
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AMZN

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$1,964.78

-13.57 (-0.69%)

FDX

FedEx

$167.08

1.69 (1.02%)

03/08/13
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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

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MSFT

Microsoft

$136.62

0.33 (0.24%)

ORCL

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AZN

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$40.11

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BMY

Bristol-Myers

$43.32

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LLY

Eli Lilly

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GSK

GlaxoSmithKline

$40.97

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JNJ

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MRK

Merck

$81.39

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NVS

Novartis

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PFE

Pfizer

$42.78

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RHHBY

Roche

$0.00

(0.00%)

SNY

Sanofi

$41.94

-0.01 (-0.02%)

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BHVN

Biohaven Pharmaceutical

$44.16

-0.61 (-1.36%)

18:12
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  • 09

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CE

Celanese

$107.01

0.9 (0.85%)

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  • 23

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F

Ford

$10.20

-0.06 (-0.58%)

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RTN

Raytheon

$178.55

2.45 (1.39%)

17:48
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  • 25

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UTX

United Technologies

$132.37

1.08 (0.82%)

17:44
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  • 23

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LMT

Lockheed Martin

$356.90

0.675 (0.19%)

17:40
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Lockheed Martin awarded $1.47B Missile Defense Agency contract modification »

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  • 23

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ARES

Ares Management

$28.13

-0.305 (-1.07%)

17:33
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Breaking Syndicate news story on Ares Management »

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  • 31

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HAFC

Hanmi Financial

$21.68

-0.105 (-0.48%)

17:33
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Hanmi Financial announced…

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  • 23

    Jul

PAYS

Paysign

$17.49

-0.48 (-2.67%)

17:32
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Breaking Syndicate news story on Paysign »

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MEOH

Methanex

$43.19

0.83 (1.96%)

17:28
07/19/19
07/19
17:28
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17:28
Hot Stocks
Methanex reaches final investment decision on methanol plant in Geismar, LA »

Methanex Corporation…

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  • 01

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17:17
07/19/19
07/19
17:17
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17:17
Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

Biotech Analysts provide…

17:14
07/19/19
07/19
17:14
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17:14
Conference/Events
UBS retail/hardlines analyst to hold an analyst/industry conference call »

Retail/Hardlines Analyst…

SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

17:05
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Hot Stocks
Seanergy Maritime receives noncompliance notice from Nasdaq »

Seanergy Maritime…

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
07/19/19
07/19
16:41
07/19/19
16:41
Conference/Events
Sonim management to meet with Oppenheimer »

Meetings to be held on…

03/08/13
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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
07/19/19
07/19
16:30
07/19/19
16:30
Hot Stocks
Kingstone names Barry Goldstein CEO »

Kingstone Companies…

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  • 07

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16:30
07/19/19
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16:30
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16:30
Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

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