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OC

Owens Corning

$56.50

1.9 (3.48%)

, GRFS

Grifols

$20.43

0.53 (2.66%)

10:25
06/27/19
06/27
10:25
06/27/19
10:25

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Owens Corning (OC) upgraded to Buy from Neutral at BofA/Merrill and to Neutral from Sell at Seaport Global. 2. Grifols (GRFS) upgraded to Overweight from Neutral at JPMorgan with analyst James Gordon saying sales growth and margin expansion will drive a re-rating in the shares. 3. Arch Capital (ACGL) upgraded to Buy from Hold at Deutsche Bank with analyst Joshua Shanker saying his increased 2020 EPS estimate of $3.00 represents the high on the Street. 4. KB Home (KBH) upgraded to Buy from Neutral at Buckingham and to Overweight from Sector Weight at KeyBanc. 5. TripAdvisor (TRIP) upgraded to Buy from Neutral at DA Davidson with analyst Tom White saying TripAdvisor's business has been getting steadily healthier over the last several quarters as new products improve revenue quality by diversifying its customer base, adding that these trends, along with stability in TripAdvisor's core hotel CPC auction and valuation multiples 20%+ below historical averages reduces its risk profile and creates a compelling entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

OC

Owens Corning

$56.50

1.9 (3.48%)

GRFS

Grifols

$20.43

0.53 (2.66%)

ACGL

Arch Capital

$35.69

0.43 (1.22%)

KBH

KB Home

$25.31

1.73 (7.34%)

TRIP

TripAdvisor

$45.59

1.55 (3.52%)

OC Owens Corning
$56.50

1.9 (3.48%)

06/27/19
GHSC
06/27/19
UPGRADE
GHSC
Neutral
Owens Corning upgraded to Neutral from Sell at Seaport Global
Seaport Global analyst Reuben Garner upgraded Owens Corning to Neutral following reports HG Vora Capital Management has built a stake in the company and plans to explore a sale and/or break-up. Garner said Owens story has now shifted from one of structural fundamentals to one focused on unlocking value for shareholders.
06/27/19
BOFA
06/27/19
UPGRADE
Target $72
BOFA
Buy
Owens Corning upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst John Lavallo upgraded Owens Corning to Buy and raised his price target to $72 from $58 citing potential portfolio momentum following another special situations focused investor building a position in Owens shares. The analyst said the building sector may be entering a period of deconsolidation and companies such as Owens can create shareholder value more effectively allocating capital towards higher growth opportunities and returns, or towards buybacks, dividends, and debt reduction.
05/16/19
NOMU
05/16/19
DOWNGRADE
Target $48
NOMU
Neutral
Owens Corning downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Michael Wood downgraded Owens Corning to Neutral from Buy and lowered his price target for the shares to $48 from $78. The analyst expects increased tariff rates to impact the companies most exposed to the new residential construction end market.
05/06/19
BOFA
05/06/19
UPGRADE
Target $56
BOFA
Neutral
Owens Corning upgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Owens Corning to Neutral from Underperform and raised its price target to $58 from $47. Analyst John Lovallo said the building products operating environment has improved and sees the potential for the stock to trade more on a sum-of-the-parts methodology going forward.
GRFS Grifols
$20.43

0.53 (2.66%)

02/08/19
BREN
02/08/19
DOWNGRADE
BREN
Hold
Grifols downgraded to Hold from Buy at Berenberg
06/27/19
JPMS
06/27/19
UPGRADE
Target $22.5
JPMS
Overweight
Grifols upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst James Gordon upgraded Grifols to Overweight from Neutral and raised his price target for the shares to $22.50 from $21. Sales growth and margin expansion will drive a re-rating in the shares, Gordon tells investors in a research note. The analyst believes Grifols' sales growth and profitability are at an inflection point. Further, consensus expectations are achievable, the company's competition more distant, and its valuation is undemanding, according to Gordon. He believes the company can achieve low double digit EBITDA and mid-teens earrings growth over the medium-term.
01/23/19
PIPR
01/23/19
NO CHANGE
PIPR
Overweight
Piper says Grifols deal brings Rigel a 'step closer' to positive cash-flow
After Rigel (RIGL) announced an agreement with Grifols (GRFS) to market Tavalisse in Europe and Turkey, Piper Jaffray analyst Christopher Raymond said he believes the $30M upfront payment and $20M on EU approval should enable Rigel to reach cash flow positivity without additional financings. Citing this, and continued traction in the U.S. for Tavalisse, Raymond keeps an Overweight rating on Rigel shares.
01/23/19
HCWC
01/23/19
NO CHANGE
Target $8
HCWC
Buy
H.C. Wainwright boosts Rigel target to $8 on European partnership
H.C. Wainwright analyst Joseph Pantginis raised his price target for Rigel Pharmaceuticals to $8 from $7.50 saying the company checked an "important box" by signing a partnership for Europe with Grifols (GRFS). The analyst is "pleased" with the Grifols partnership and the terms, "especially the royalty." He's confident Rigel is working on different fronts to boost fostamatinib's clinical and commercial potential outside the U.S. and reiterates a Buy rating on the shares.
ACGL Arch Capital
$35.69

0.43 (1.22%)

01/09/19
LEHM
01/09/19
UPGRADE
Target $32
LEHM
Overweight
Arch Capital upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Jay Gelb upgraded Arch Capital Group to Overweight and raised his price target for the shares to $32 from $29.
06/26/19
DBAB
06/26/19
UPGRADE
DBAB
Buy
Arch Capital upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Joshua Shanker upgraded Arch Capital Group to Buy from Hold.
06/27/19
DBAB
06/27/19
UPGRADE
Target $41
DBAB
Buy
Arch Capital upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Joshua Shanker last night upgraded Arch Capital to Buy from Hold and raised his price target for the shares to $41 from $33. The analyst points out that his increased 2020 earnings per share estimate of $3.00 represents the high on the Street. His target price is equivalent to 1.45 times book, which is modestly lower than the multiple at which it trades today.
01/09/19
LEHM
01/09/19
NO CHANGE
LEHM
Barclays upgrades three P&C Insurers, downgrades RenaissanceRe
Barclays analyst Jay Gelb upgraded Travelers (TRV), Arch Capital Group (ACGL) and Progressive (PGR) to Overweight while downgrading RenaissanceRe to Underweight from Equal Weight. Travelers, Arch and Progressive are among the best managed companies in the Property and Casualty Insurance sector with "sustainably robust earning power, strong balance sheets, and increasingly attractive valuations," Gelb tells investors in a research note. He believes the recent share pullbacks have provided an attractive opportunity. And although he also views RenaissanceRe as well managed company, he thinks the stock's valuation is full and that reinsurance market conditions are unlikely to tighten.
KBH KB Home
$25.31

1.73 (7.34%)

06/27/19
06/27/19
UPGRADE
Target $30

Overweight
KB Home upgraded to Overweight on earnings momentum, seasonal lift at KeyBanc
As previously reported, KeyBanc analyst Kenneth Zener upgraded KB Home to Overweight from Sector Weight, with a $30 price target. The analyst believes the company's Q2 order momentum warrants higher growth expectations. His seasonal quant model dictates his demand forecast, and coupled with KB Home's rising community count, delivers a much improved second half of 2019 and 2020 outlook, despite recent market news suggesting otherwise, he contends.
06/27/19
KEYB
06/27/19
UPGRADE
KEYB
Overweight
KB Home upgraded to Overweight from Sector Weight at KeyBanc
06/27/19
BUCK
06/27/19
UPGRADE
BUCK
Buy
KB Home upgraded to Buy from Neutral at Buckingham
06/27/19
BUCK
06/27/19
UPGRADE
Target $30
BUCK
Buy
KB Home upgraded to Buy on strong community growth execution at Buckingham
As previously reported, Buckingham analyst Megan McGrath upgraded KB Home to Buy from Neutral and raised her price target on the shares to $30 from $27 following the company's strong Q2 results, citing her view that gross margins should see tailwinds from better geographic mix, firming prices and improving volume. Order growth of 15% came in well above her 4% growth estimate and she thinks continued community count growth should boost order growth in the second half of the year, McGrath noted.
TRIP TripAdvisor
$45.59

1.55 (3.52%)

06/19/19
06/19/19
UPGRADE
Target $60

Buy
TripAdvisor upgraded to Buy at SunTrust on accelerating growth outlook
As previously reported, SunTrust analyst Naved Khan upgraded TripAdvisor to Buy from Hold with an unchanged $60 price target. The analyst notes that the market valuation is placing more emphasis on the company's EBITDA multiple of the slower-growing Core business, even though its Experiences segment has generated annual growth of over 30% and now represents nearly a third of total sales. Khan adds that the Experiences business segment has "reached critical mass" and, along with stabilization in Core, should lead to accelerating growth for overall TripAdvisor revenue in FY20 and beyond.
06/19/19
CLVD
06/19/19
INITIATION
CLVD
Neutral
TripAdvisor assumed with a Neutral at Cleveland Research
Cleveland Research analyst Vince Ciepiel assumed coverage of TripAdvisor with a Neutral rating, stating that his checks suggest that the company should see double digit EBITDA growth, as expected. Based on his checks, partners still view TripAdvisor as a viable channel for traffic, the analyst added.
06/19/19
06/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Lamb Weston (LW) upgraded to Buy from Neutral at Goldman Sachs with analyst Adam Samuelson saying the shares offer an "attractive valuation risk/reward," after declining 18.6% year-to-date. 2. TripAdvisor (TRIP) upgraded to Buy from Hold at SunTrust with analyst Naved Khan noting that the market valuation is placing more emphasis on the company's EBITDA multiple of the slower-growing Core business, even though its Experiences segment has generated annual growth of over 30% and now represents nearly a third of total sales. 3. Six Flags (SIX) upgraded to Outperform from Neutral at Wedbush with analyst James Hardiman stating believes that a number of potential catalysts line up nicely for the company, most notably Per-Capita spending improvements driven by the Membership 2.0 program, positive news flow from the company's international business and easy weather comparisons. 4. National CineMedia (NCMI) upgraded to Outperform from Neutral at Wedbush with analyst Michael Pachter saying he is less concerned about reserved seating driving later arrivals as the company has shown that it can recoup ad dollars elsewhere. 5. U.S. Steel (X) upgraded to Buy from Sell at Vertical Group with analyst Gordon Johnson after the company did the "unthinkable" and idled two U.S. plants and one in the EU. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/27/19
DADA
06/27/19
UPGRADE
Target $55
DADA
Buy
TripAdvisor upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Tom White upgraded TripAdvisor to Buy from Neutral and maintained a $55 price target. In a research note to investors, White says TripAdvisor's business has been getting steadily healthier over the last several quarters as new products improve revenue quality by diversifying its customer base, adding that these trends, along with stability in TripAdvisor's core hotel CPC auction and valuation multiples 20%+ below historical averages reduces its risk profile and creates a compelling entry point.

TODAY'S FREE FLY STORIES

13:20
07/18/19
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General news
Treasury's $14 B 10-year TIPS sale was on the soft side »

Treasury's $14 B…

$NSD

NASDAQ Market Internals

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$NYE

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UNIT

Uniti Group

$8.55

-0.03 (-0.35%)

13:15
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07/18
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Options
Uniti Group put volume heavy and directionally bearish »

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13:09
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General news
10-Yr TIPS Auction Coupon Rate data reported »

10-Yr TIPS Auction Coupon…

13:09
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13:09
General news
10-Yr TIPS Auction Total Amount data reported »

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TELL

Tellurian

$6.99

0.32 (4.80%)

13:05
07/18/19
07/18
13:05
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13:05
Options
Tellurian call volume above normal and directionally bullish »

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12:57
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12:57
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12:57
Conference/Events
Stephens architecture analysts to hold analyst/industry conference call nosymbol »

Analysts hold an…

EMR

Emerson

$64.26

-0.4 (-0.62%)

12:55
07/18/19
07/18
12:55
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12:55
Options
Emerson put volume heavy and directionally bearish »

Bearish flow noted in…

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12:45
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12:45
General news
Treasury $14 B 10-year TIPS preview: the auction outlook is mixed. »

Treasury $14 B 10-year…

FB

Facebook

$200.15

-1.82 (-0.90%)

12:43
07/18/19
07/18
12:43
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12:43
Periodicals
Instagram hiding 'likes' in more countries to ease pressure, Gadgets says »

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  • 24

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DHR

Danaher

$141.79

2.19 (1.57%)

12:40
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07/18
12:40
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12:40
Recommendations
Danaher analyst commentary at Piper Jaffray »

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AXP

American Express

$128.02

0.975 (0.77%)

, V

Visa

$179.16

(0.00%)

12:39
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12:39
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12:39
Earnings
Fly Intel: What to watch in credit card space earnings reports »

American Express (AXP),…

AXP

American Express

$128.02

0.975 (0.77%)

V

Visa

$179.16

(0.00%)

MA

MasterCard

$275.83

0.49 (0.18%)

UBER

Uber

$43.74

0.12 (0.28%)

LYFT

Lyft

$65.51

0.35 (0.54%)

WU

Western Union

$20.42

0.02 (0.10%)

BBVA

Banco Bilbao

$5.42

-0.055 (-1.01%)

03/08/13
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03/06/13
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03/06/13
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BUD

AB InBev

$88.73

0.31 (0.35%)

, KKR

KKR

$25.38

-0.08 (-0.31%)

12:36
07/18/19
07/18
12:36
07/18/19
12:36
Periodicals
AB InBev weighs asset sales after calling off Asian IPO, WSJ reports »

Anheuser-Busch InBev…

BUD

AB InBev

$88.73

0.31 (0.35%)

KKR

KKR

$25.38

-0.08 (-0.31%)

03/08/13
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03/06/13
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  • 25

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ESV

Ensco Rowan

$7.74

-0.16 (-2.03%)

12:35
07/18/19
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12:35
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12:35
Options
Ensco put volume heavy and directionally bearish »

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  • 01

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CHS

Chico's

$3.29

-0.13 (-3.80%)

12:34
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Hot Stocks
Chico's FAS initiates Fort Myers lockdown after call over active shooter threat »

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CPE

Callon Petroleum

$4.87

-0.35 (-6.71%)

12:33
07/18/19
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12:33
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12:33
Conference/Events
Callon Petroleum management to meet with JPMorgan »

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  • 18

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BUD

AB InBev

$88.64

0.22 (0.25%)

12:29
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12:29
Hot Stocks
Breaking Hot Stocks news story on AB InBev »

AB InBev up 1% to $89.30…

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  • 25

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BUD

AB InBev

$88.64

0.22 (0.25%)

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Breaking Periodicals news story on AB InBev »

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  • 25

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UAL

United Continental

$94.94

0.11 (0.12%)

, BA

Boeing

$363.48

-5.97 (-1.62%)

12:28
07/18/19
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Hot Stocks
United to resume service between New York/Newark and Delhi and Mumbai »

United Airlines (UAL)…

UAL

United Continental

$94.94

0.11 (0.12%)

BA

Boeing

$363.48

-5.97 (-1.62%)

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  • 24

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12:25
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Conference/Events
William Blair enterprise & cloud infrastructure analyst to hold a group luncheon »

Enterprise & Cloud…

BA

Boeing

$363.39

-6.06 (-1.64%)

12:24
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07/18
12:24
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Periodicals
Some Boeing planes may be prone to cell phone interference, Bloomberg says »

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  • 24

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MBUU

Malibu Boats

$35.98

-0.7 (-1.91%)

12:23
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Hot Stocks
Malibu Boats licenses wakesurfing patent portfolio to Sanger Boats »

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SBPH

Spring Bank Pharmaceuticals

$5.59

0.48 (9.39%)

, ARWR

Arrowhead

$29.53

0.99 (3.47%)

12:22
07/18/19
07/18
12:22
07/18/19
12:22
Recommendations
Spring Bank Pharmaceuticals, Arrowhead, Johnson & Johnson, Gilead analyst commentary at Piper Jaffray »

Spring Bank research…

SBPH

Spring Bank Pharmaceuticals

$5.59

0.48 (9.39%)

ARWR

Arrowhead

$29.53

0.99 (3.47%)

JNJ

Johnson & Johnson

$131.79

-0.03 (-0.02%)

GILD

Gilead

$66.86

-0.05 (-0.07%)

03/08/13
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  • 22

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  • 16

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AKZOY

AkzoNobel

$0.00

(0.00%)

, PPG

PPG

$116.71

0.105 (0.09%)

12:19
07/18/19
07/18
12:19
07/18/19
12:19
Periodicals
Axalta has drawn interest from suitors, wants deal by fall, Bloomberg reports »

Axalta Coating Systems…

AKZOY

AkzoNobel

$0.00

(0.00%)

PPG

PPG

$116.71

0.105 (0.09%)

AXTA

Axalta Coating

$30.40

0.18 (0.60%)

03/08/13
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