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NTES

NetEase

$238.29

-4.645 (-1.91%)

, OXY

Occidental Petroleum

$45.55

-1.57 (-3.33%)

10:17
08/12/19
08/12
10:17
08/12/19
10:17

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. NetEase (NTES) downgraded to Neutral from Buy at Goldman Sachs with analyst Bill Liu citing the company's Q2 revenues miss, mainly on soft online games growth. 2. Occidental Petroleum (OXY) downgraded to In Line from Outperform at Evercore ISI with analyst Doug Terreson saying the company's "pledge" for greater capital discipline and enhanced corporate governance "proved fleeting" with the significant decline in return on capital employed due to the Anadarko acquisition. 3. Adesto Technologies (IOTS) downgraded to Market Perform from Outperform at Northland with analyst Gus Richard saying the company has $34M of high interest debt and needs $10M to pay an earnout by year end, but he thinks the company is holding off on an offering until it reports a "strong" third quarter that will be boosted by an airpod win at Apple (AAPL). 4. Bluebird Bio (BLUE) downgraded to Market Perform from Outperform at William Blair with analyst Raju Prasad saying he's taking a conservative view on the company's transition from a development-stage company to a commercial-stage company. 5. Cemex (CX) downgraded to Market Perform from Outperform at BBVA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

NTES

NetEase

$238.29

-4.645 (-1.91%)

OXY

Occidental Petroleum

$45.55

-1.57 (-3.33%)

IOTS

Adesto Technologies

$10.08

0.18 (1.82%)

BLUE

Bluebird Bio

$119.49

-5.49 (-4.39%)

CX

Cemex

$3.06

-0.1 (-3.16%)

  • 12

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    Aug

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    Sep

  • 09

    Sep

  • 10

    Sep

NTES NetEase
$238.29

-4.645 (-1.91%)

08/05/19
JEFF
08/05/19
INITIATION
Target $274.6
JEFF
Buy
NetEase assumed with a Buy at Jefferies
Jefferies analyst Thomas Chong assumed coverage of NetEase with a Buy rating and $274.60 price target. The analyst is positive on the outlook of NetEase given its "competitive strengths in R&D with a proven track record in releasing high quality titles, and longevity of its existing games."
08/11/19
GSCO
08/11/19
DOWNGRADE
GSCO
Neutral
NetEase downgraded to Neutral from Buy at Goldman Sachs
08/12/19
GSCO
08/12/19
DOWNGRADE
Target $270
GSCO
Neutral
Goldman Sachs downgrades NetEase to Neutral on weaker games outlook
Goldman Sachs analyst Bill Liu downgraded NetEase to Neutral from Buy after the company's Q2 revenues missed consensus, mainly on soft online games growth. He doesn't expect China's regulatory environment to improve until 2020, which will continue to limit the supply of new games in the rest of this year. Given the weaker outlook for online games, along with a deceleration in e-commerce growth, Liu lowered his 2019 and 2020 revenue forecasts for NetEase by 4%and 6%, respectively, and cut his price target on the stock to $270 from $293.
05/16/19
CHRS
05/16/19
UPGRADE
CHRS
Buy
NetEase upgraded to Buy from Hold at China Renaissance
OXY Occidental Petroleum
$45.55

-1.57 (-3.33%)

08/12/19
EVER
08/12/19
DOWNGRADE
EVER
In Line
Occidental Petroleum downgraded to In Line from Outperform at Evercore ISI
08/05/19
RBCM
08/05/19
NO CHANGE
Target $28
RBCM
Outperform
Western Midstream price target lowered to $28 from $40 at RBC Capital
RBC Capital analyst Elvira Scotto lowered her price target on Western Midstream (WES) to $28 after its Q2 earnings miss and lowered FY19 guidance. The analyst also notes that the stock no longer warrants a premium given the likely "change in sponsor", assuming the Occidental Petroleum (OXY) acquisition of Western Midstream's parent Anadarko (APC) closes as expected. Scotto is keeping her Outperform rating on the stock however, given some longer term visibility on performance after Western Midstream's deal with DCP Midstream (DCP) in the DJ Basin.
08/01/19
MUFG
08/01/19
DOWNGRADE
Target $37
MUFG
Neutral
MUFG downgrades Western Midstream Partners to Neutral after Q2 miss
MUFG analyst Barrett Blaschke downgraded Western Midstream Partners (WES) to Neutral from Overweight and lowered his price target for the shares to $37 from $42. The company's Q2 missed expectations and its guidance came down, Blaschke tells investors in a research note. Further, there is ongoing uncertainty around the future of the partnership as the Occidental Petroleum (OXY) acquisition of Western Midstream's parent Anadarko (APC) moves forward, says Blaschke. He believes potential new dollars into Western Midstream will be held back until Occidental clarifies its longer term plans for the partnership, which he notes could include an outright sale.
08/12/19
EVER
08/12/19
DOWNGRADE
EVER
In Line
Occidental acquisition of Anadarko 'destroyed value,' Evercore says in downgrade
Evercore ISI analyst Doug Terreson downgraded Occidental Petroleum to In-Line from Outperform without a price target after resuming coverage of the name. The company's "pledge" for greater capital discipline and enhanced corporate governance "proved fleeting" with the significant decline in return on capital employed due to the Anadarko acquisition, Terreson tells investors in a research note. The purchase of Anadarko makes Occidental larger but "significantly less valuable," contends the analyst. He says the deal "destroyed value" and is 30% dilutive to return on capital employed. As such, Terreson finds Occidental shares fairly valued at current levels.
IOTS Adesto Technologies
$10.08

0.18 (1.82%)

08/12/19
NORL
08/12/19
DOWNGRADE
NORL
Market Perform
Adesto downgraded to Market Perform at Northland after $10 target achieved
As previously reported, Northland analyst Gus Richard downgraded Adesto Technologies (IOTS) to Market Perform from Outperform after the stock reached his prior price target of $10. The company has $34M of high interest debt and needs $10M to pay an earnout by year end, but Richard thinks the company is holding off on an offering until it reports a "strong" third quarter that will be boosted by an airpod win at Apple (AAPL), he tells investors.
11/01/18
RILY
11/01/18
NO CHANGE
Target $9.5
RILY
Buy
Adesto recent selloff brings buying opportunity, says B. Riley FBR
B. Riley FBR analyst Josh Nichols views Adesto Technologies as oversold and sees a "particularly attractive" buying opportunity ahead of the company's Q3 results in November 7. The analyst reiterates a Buy rating on the shares with a $9.50 price target.
08/12/19
NORL
08/12/19
DOWNGRADE
NORL
Market Perform
Adesto Technologies downgraded to Market Perform from Outperform at Northland
10/05/18
BNCH
10/05/18
NO CHANGE
Target $9
BNCH
Buy
Adesto weakness on memory pricing concerns a buying opportunity, says Benchmark
Benchmark analyst Gary Mobley attributes yesterday's weakness in shares of Adesto Technologies to a Digitimes article highlighting Nanya's Q3 revenue shortfall along with recent data points relating to weak DRAM and NAND flash pricing. However, he views yesterday price decline as an overreaction and reiterates his Buy rating on Adesto with a $9 price target.
BLUE Bluebird Bio
$119.49

-5.49 (-4.39%)

08/12/19
WBLR
08/12/19
DOWNGRADE
WBLR
Market Perform
Bluebird Bio downgraded to Market Perform from Outperform at William Blair
William Blair analyst Raju Prasad downgraded Bluebird Bio to Market Perform from Outperform.
06/18/19
06/18/19
UPGRADE
Target $160

Buy
Bluebird Bio upgraded to Buy from Hold at Maxim
As previously reported, Maxim analyst Jason McCarthy upgraded Bluebird Bio to Buy from Hold with a $160 price target. The analyst acknowledges that the company's commercial delay in the launch of its Zynteglo in Europe is a "speed bump", but believes that pricing of the drug is "reasonable" and valuation on the stock is "attractive" after the Zynteglo timing-related update from the company . McCarthy adds that tBluebird Bio's U.S. filing for Zynteglo could come this year with approval expected to take place in 2020.
06/18/19
MAXM
06/18/19
UPGRADE
Target $160
MAXM
Buy
Bluebird Bio upgraded to Buy from Hold at Maxim
Maxim analyst Jason McCarthy upgraded Bluebird Bio to Buy from Hold with a $160 price target.
08/12/19
WBLR
08/12/19
DOWNGRADE
WBLR
Market Perform
William Blair downgrades Bluebird Bio, calls Zynteglo launch 'slow mover'
William Blair analyst Raju Prasad downgraded Bluebird Bio to Market Perform from Outperform saying he's taking a conservative view on the company's transition from a development-stage company to a commercial-stage company. Based on the reimbursement model, the analyst believes that the Zynteglo launch is likely to be a "slow mover." Further, Prasad altered his model for bb2121-bb21217 to reflect the increased BCMA competition from both autologous and allogeneic cell therapy approaches that he says are moving faster through the clinic than he initially anticipated.
CX Cemex
$3.06

-0.1 (-3.16%)

08/12/19
BBVA
08/12/19
DOWNGRADE
Target $3.6
BBVA
Market Perform
Cemex downgraded to Market Perform from Outperform at BBVA
BBVA analyst Francisco Martinez downgraded Cemex to Market Perform from Outperform and lowered his price target for the shares to $3.60 from $7.30.
08/06/19
HSBC
08/06/19
UPGRADE
HSBC
Buy
Cemex upgraded to Buy from Hold at HSBC
07/15/19
SANT
07/15/19
DOWNGRADE
Target $5.6
SANT
Hold
Cemex downgraded to Hold from Buy at Santander
Santander analyst Cecilia Jimenez downgraded Cemex to Hold from Buy and lowered her price target on the ADRs to $5.60 from $7.00.
04/29/19
MSCO
04/29/19
DOWNGRADE
MSCO
Equal Weight
Cemex downgraded to Equal Weight from Overweight at Morgan Stanley

TODAY'S FREE FLY STORIES

CBS

CBS

$43.83

0.5 (1.15%)

, VIA

Viacom

$27.27

-0.4 (-1.45%)

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CBS

$43.83

0.5 (1.15%)

VIA

Viacom

$27.27

-0.4 (-1.45%)

VIAB

Viacom

$26.02

0.09 (0.35%)

AAPL

Apple

$206.44

4.71 (2.33%)

DIS

Disney

$135.19

1.79 (1.34%)

T

AT&T

$34.98

0.64 (1.86%)

CMCSA

Comcast

$43.17

0.82 (1.94%)

CMCSK

Comcast

$0.00

(0.00%)

NFLX

Netflix

$302.74

6.81 (2.30%)

AMZN

Amazon.com

$1,791.82

16.72 (0.94%)

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MYGN

Myriad Genetics

$25.36

2.14 (9.22%)

07:57
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Periodicals
Myriad Genetics stock might have an FDA issue, Barron's says »

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    Nov

CSCO

Cisco

$46.96

0.73 (1.58%)

, NTAP

NetApp

$46.75

0.33 (0.71%)

07:50
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Periodicals
Trade war hitting tech stocks, Barron's says »

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CSCO

Cisco

$46.96

0.73 (1.58%)

NTAP

NetApp

$46.75

0.33 (0.71%)

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RDS.A

Royal Dutch Shell

$55.55

0.47 (0.85%)

, RDS.B

Royal Dutch Shell

$55.56

0.46 (0.83%)

07:47
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Periodicals
Investors should not abandon oil, gas stocks, Barron's says »

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RDS.A

Royal Dutch Shell

$55.55

0.47 (0.85%)

RDS.B

Royal Dutch Shell

$55.56

0.46 (0.83%)

BP

BP

$36.27

0.22 (0.61%)

XOM

Exxon Mobil

$68.30

1.06 (1.58%)

CVX

Chevron

$115.79

0.08 (0.07%)

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03/06/13
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TGT

Target

$84.20

1.67 (2.02%)

, WMT

Walmart

$112.99

0.32 (0.28%)

07:40
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07:40
Periodicals
Grocery Outlet thriving as rivals struggle, Barron's says »

While Dow was down 800…

TGT

Target

$84.20

1.67 (2.02%)

WMT

Walmart

$112.99

0.32 (0.28%)

GO

Grocery Outlet

$46.55

2.81 (6.42%)

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03/06/13
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03/06/13
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AEO

American Eagle

$15.40

0.63 (4.27%)

07:33
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07:33
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07:33
Periodicals
American Eagle to soar despite trade war, Barron's says »

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ANGI

Angi Homeservices

$8.18

-0.18 (-2.15%)

, MTCH

Match Group

$84.53

2.08 (2.52%)

07:27
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07:27
Periodicals
Dating business might be IAC's best asset, greatest challenge, Barron's says »

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ANGI

Angi Homeservices

$8.18

-0.18 (-2.15%)

MTCH

Match Group

$84.53

2.08 (2.52%)

IAC

IAC

$249.17

4.21 (1.72%)

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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AAPL

Apple

$206.44

4.71 (2.33%)

, HAS

Hasbro

$114.29

1.13 (1.00%)

07:13
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On The Fly
Week in review How Trump's policies moved stocks »

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AAPL

Apple

$206.44

4.71 (2.33%)

HAS

Hasbro

$114.29

1.13 (1.00%)

MAT

Mattel

$10.74

(0.00%)

AGR

Avangrid

$49.29

0.37 (0.76%)

JPM

JPMorgan

$107.73

2.52 (2.40%)

BAC

Bank of America

$27.04

0.79 (3.01%)

C

Citi

$63.46

2.13 (3.47%)

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NCLH

Norwegian Cruise Line

$50.48

1.38 (2.81%)

18:04
08/16/19
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18:04
Hot Stocks
Norwegian Cruise Line CEO sells 25K shares of common stock »

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RM

Regional Management

$27.12

0.14 (0.52%)

18:01
08/16/19
08/16
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Hot Stocks
Regional Management CFO buys 5K shares of common stock »

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  • 13

    Nov

RTN

Raytheon

$178.10

-0.42 (-0.24%)

17:59
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Hot Stocks
Raytheon awarded $199.59M Navy contract for MK 15 CIWS »

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WEN

Wendy's

$19.94

0.16 (0.81%)

17:57
08/16/19
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Hot Stocks
Breaking Hot Stocks news story on Wendy's »

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  • 13

    Nov

BRY

Berry Petroleum

$8.59

0.39 (4.76%)

17:54
08/16/19
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Syndicate
Breaking Syndicate news story on Berry Petroleum »

Berry Petroleum files to…

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CSWI

CSW Industrials

$70.20

1.92 (2.81%)

17:52
08/16/19
08/16
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17:52
Hot Stocks
CSW Industrials CEO sells 25K shares of common stock »

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OAS

Oasis Petroleum

$3.03

0.135 (4.66%)

17:49
08/16/19
08/16
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17:49
Hot Stocks
Oasis Petroleum CEO buys 30K shares of common stock »

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EE

El Paso Electric

$66.41

0.005 (0.01%)

17:45
08/16/19
08/16
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17:45
Hot Stocks
El Paso Electric director Wertheimer sells 25K shares of common stock »

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HON

Honeywell

$165.07

2.81 (1.73%)

17:42
08/16/19
08/16
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17:42
Hot Stocks
Honeywell CEO sells 7.1K shares of common stock »

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MBRX

Moleculin Biotech

$1.08

0.01 (0.93%)

17:37
08/16/19
08/16
17:37
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17:37
Earnings
Moleculin Biotech reports Q2 EPS (3c), two estimates (10c) »

CFO Jonathan Foster…

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VIVE

Viveve

$0.13

0.0046 (3.59%)

17:35
08/16/19
08/16
17:35
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17:35
Syndicate
Breaking Syndicate news story on Viveve »

Viveve files to sell…

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PRGO

Perrigo

$46.21

0.535 (1.17%)

17:30
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08/16
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17:30
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Breaking Hot Stocks news story on Perrigo »

Starboard lowers Perrigo…

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  • 01

    Oct

UAL

United Continental

$82.96

1.36 (1.67%)

17:28
08/16/19
08/16
17:28
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17:28
Hot Stocks
United Continental director Shapiro buys 10K shares of common stock »

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  • 04

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    Sep

MBIO

Mustang Bio

$3.88

0.19 (5.15%)

17:26
08/16/19
08/16
17:26
08/16/19
17:26
Syndicate
Breaking Syndicate news story on Mustang Bio »

Mustang Bio files to…

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  • 04

    Sep

BCLI

BrainStorm

$3.63

0.055 (1.54%)

17:24
08/16/19
08/16
17:24
08/16/19
17:24
Syndicate
Breaking Syndicate news story on BrainStorm »

BrainStorm files to sell…

03/08/13
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WLK

Westlake Chemical

$61.27

0.66 (1.09%)

17:15
08/16/19
08/16
17:15
08/16/19
17:15
Hot Stocks
Westlake Chemical raises quarterly dividend by 5% to 26.25c per share »

The dividend will be…

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GIG

GigCapital

$10.30

(0.00%)

17:10
08/16/19
08/16
17:10
08/16/19
17:10
Hot Stocks
GigCapital receives noncompliance notice from NYSE »

GigCapital announced that…

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