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CNC

Centene

$49.04

1.08 (2.25%)

, BURL

Burlington Stores

$175.26

7.01 (4.17%)

10:22
08/13/19
08/13
10:22
08/13/19
10:22

Third Point takes stakes in GTT and Burlington during Q2, exits DuPont

Dan Loen's Third Point LLC disclosed in a regulatory filing its holdings as of June 30, 2019. Third Point made 16 new buys during the second quarter, including by size of position, Centene (CNC), Burlington Stores (BURL), GTT Communications (GTT), Tradeweb Markets (TW), and Americold Realty Trust (COLD). The fund exited four positions during the quarter: DuPont (DD), Constellation Brands (STZ), Celgene (CELG), and American Express (AXP). Third Point increased its stake in nine holdings, including by size, Boston Scientific (BSX), Netflix (NFLX), Adobe Systems (ADBE), Microsoft (MSFT) and Ross Stores (ROST). The fund reduced its stake in five holdings: Baxter (BAX), Campbell Soup (CPB), United Technologies (UTX), iShares 1-3 Year Treasury Bond Fund ETF, and Iqvia (IQV). Third Point's top holdings as of June 30, in order of size, were Baxter, United Technologies, Campbell Soup, Danaher (DHR), and PayPal (PYPL).

CNC

Centene

$49.04

1.08 (2.25%)

BURL

Burlington Stores

$175.26

7.01 (4.17%)

GTT

GTT Communications

$9.01

0.9 (11.10%)

TW

Tradeweb Markets

$46.46

0.47 (1.02%)

COLD

Americold Realty Trust

$35.16

-0.23 (-0.65%)

DD

DuPont

$69.54

1.67 (2.46%)

STZ

Constellation Brands

$194.77

1.64 (0.85%)

CELG

Celgene

$94.22

0.2 (0.21%)

AXP

American Express

$124.31

0.37 (0.30%)

BSX

Boston Scientific

$42.75

0.43 (1.02%)

NFLX

Netflix

$313.30

2.38 (0.77%)

ADBE

Adobe

$293.52

4.75 (1.64%)

MSFT

Microsoft

$137.97

2.21 (1.63%)

ROST

Ross Stores

$106.79

3.55 (3.44%)

BAX

Baxter

$87.29

1.68 (1.96%)

CPB

Campbell Soup

$42.20

0.08 (0.19%)

UTX

United Technologies

$129.92

1.89 (1.48%)

IQV

Iqvia

$155.88

0.36 (0.23%)

DHR

Danaher

$140.37

1.88 (1.36%)

PYPL

PayPal

$105.45

2.75 (2.68%)

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CNC Centene
$49.04

1.08 (2.25%)

07/18/19
SPHN
07/18/19
NO CHANGE
SPHN
Overweight
Iowa Medicaid MCO rate bump positive for Anthem, Centene, says Stephens
Stephens analyst Scott Fidel noted that Iowa agreed to an 8.6% rate increase in Medicaid MCO for the new fiscal year starting on July 1, calling the news a positive for Centene (CNC), which just began Medicaid operations in the state, and for incumbent Anthem (ANTM). Fidel, who thinks the rate increase should help improve margins for Anthem in Iowa and increase confidence in Centene's ability to achieve its initial targets there, keeps Overweight ratings on both stocks.
06/25/19
SBSH
06/25/19
NO CHANGE
SBSH
Molina, Centene have most at stake from Texas Medicaid awards, says Citi
Citi analyst Ralph Giacobbe noted that Texas' "highly anticipated" STAR+PLUS contract for the states' higher acuity Medicaid members is expected to be awarded this Friday, June 28. Among the incumbents in the state, Molina (MOH) and Centene (CNC) have the most at stake, as their respective STAR+PLUS earnings contribute about 7% and 2%, respectively, of his and consensus estimates, Giacobbe tells investors. He estimates that the other incumbents - Anthem (ANTM), Cigna (CI) and UnitedHealth (UNH) - have 1% or less of their earnings at stake, adding that investor expectations are for the incumbents to largely retain business.
08/05/19
WELS
08/05/19
NO CHANGE
WELS
Louisiana loss a 'surprising negative' for Centene, says Wells Fargo
Louisiana selected four managed care providers for its Medicaid contracts and the winners included Humana (HUM), UnitedHealth (UNH), AmeriHealth Caritas, and Community Care Health Plan/Healthy Blue, Wells Fargo analyst Peter Costa tells investors in a research note. The loss is a "surprising negative" for Centene (CNC), which also failed to get a statewide contract in North Carolina, says Costa. The analyst would not be surprised to see a protest filed by Centene and/or CVS Health (CVS), who was also not selected. He estimates Centene could lose about $2.4B in premiums and about 13c in earnings per share while CVS could lose about $600M in premiums or about 1c in earnings per share.
07/10/19
SPHN
07/10/19
NO CHANGE
SPHN
Overweight
Centene 'a clear winner' in Oregon Managed Medicaid awards, says Stephens
Stephens analyst Scott Fidel noted that Oregon announced awards for the state's $6B managed Medicaid program, calling Centene "a clear winner" as it retained Lane county, where it maintains essentially all of its current 88,000 Medicaid members in the state, and added three other counties that serve 36% of the state's current managed Medicaid membership. Fidel, who notes the new contracts are expected to begin on Jan. 1, 2020, keeps an Overweight rating on Centene shares.
BURL Burlington Stores
$175.26

7.01 (4.17%)

08/09/19
OTRG
08/09/19
DOWNGRADE
OTRG
Mixed
Burlington Stores downgraded to Mixed from Positive at OTR Global
06/21/19
WELS
06/21/19
NO CHANGE
Target $185
WELS
Outperform
Burlington Stores price target raised to $185 from $178 at Wells Fargo
Wells Fargo analyst Ike Boruchow raised his price target for Burlington Stores to $185 from $178 after hosting two days of meetings with management. The team appears to have continued confidence in the strength of their consumer, the macro backdrop, and their ability to improve performance from here, Boruchow tells investors in a research note. The analyst says his confidence in Burlington remains high and he keeps an Outperform rating on the shares.
08/09/19
OTRG
08/09/19
DOWNGRADE
OTRG
Mixed
Burlington Stores downgraded to Mixed following checks at OTR Global
As previously reported, OTR Global downgraded Burlington Stores (BURL) to Mixed from Positive. The firm's checks indicate traffic weakness at stores and margin weakness from TJX's (TJX) increased pressure on vendors.
05/31/19
DADA
05/31/19
NO CHANGE
Target $193
DADA
Buy
Burlington Stores had 'healthy' finish to Q1, says DA Davidson
DA Davidson analyst John Morris kept his Buy rating and $193 price target on Burlington Stores after the "healthy" finish in its slight-beat-and-raise Q1 results. The analyst notes that the company has "bucked the trend" of soft Q2 outlook in "anything retail" with an in-line earnings guide and also cites the management's view on the potential impact of China tariffs leading to "better buying opportunities". Morris adds that Burlington could also outperform in the event of a recession as consumers seek out cost-saving benefits, keeping his Buy rating on the stock.
GTT GTT Communications
$9.01

0.9 (11.10%)

08/09/19
CHLM
08/09/19
DOWNGRADE
Target $8
CHLM
Hold
GTT Communications downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst George Sutton downgraded GTT Communications to Hold from Buy and cut his price target to $8 from $40 following a disappointing second quarter print. In a research note to investors, Sutton says that a continued lack of organic growth and challenges with billing systems integration negatively impacted the top and bottom line by ~$6M.
08/12/19
RAJA
08/12/19
DOWNGRADE
RAJA
Market Perform
Raymond James downgrades GTT Communications on salesforce uncertainty
As previously reported, Raymond James downgraded GTT Communications to Market Perform from Outperform. Analyst Frank Louthan noted that GTT reported weaker than expected Q2 results amid a salesforce transition that he believes makes the outlook uncertain enough that he recommends moving to the sidelines. New sales leadership can effect the needed change, but it will be difficult for the company to show the progress required for the stock to recover until the salesforce is larger, Louthan contends.
08/12/19
RAJA
08/12/19
DOWNGRADE
RAJA
Market Perform
GTT Communications downgraded to Market Perform at Raymond James
08/09/19
COWN
08/09/19
NO CHANGE
Target $21
COWN
Outperform
GTT Communications price target lowered to $21 from $37 at Cowen
Cowen analyst Jonathan Charbonneau lowered his price target on GTT Communications to $21 from $37 following disappointing Q2 results. The analyst admitted he clearly misjudged the magnitude of the issues affecting the company's financials. However, he said he does not foresee and balance sheet issues and believes the company is taking the necessary steps to improve organic growth. Charbonneau maintained his Outperform rating on GTT Communications shares.
TW Tradeweb Markets
$46.46

0.47 (1.02%)

06/18/19
RAJA
06/18/19
INITIATION
RAJA
Market Perform
Tradeweb 'attractive,' but trades at 'premium' valuation, says Raymond James
Raymond James analyst Patrick O'Shaughnessy started Tradeweb Markets with a Market Perform rating saying the company is "attractive" but trades at a "premium" valuation. In a research note to investors, the analyst says he believes the company can sustain mid-to-high single-digit revenue growth while also generating positive operating leverage due to a relatively fixed cost base, but feels that Tradeweb's current valuation offers limited upside for investors. O'Shaughnessy says he prefers to remain on the sidelines waiting for a more attractive entry point.
07/09/19
MSCO
07/09/19
NO CHANGE
MSCO
Morgan Stanley sees C-corp conversion announcement coming from Carlyle
Morgan Stanley analyst Michael Cyprys said he recommends owning Carlyle Group (CG) shares into the quarter, as he believes the company will announce plans to convert to a C-corporation along with its upcoming report, "albeit with a delayed effective date" to allow time for the complex underlying tax impact analysis. He thinks a conversion could bring greater clarity and visibility into targets, which could increase long only interest in the stock, Cyprys tells investors. In his broader preview of the earnings season for the Asset Manager group, the analyst noted that he lowered his Q2 EPS estimates by about 4% on average, cutting his estimates for Traditionals by 0.5%, for Alts by 11.5% and for Market Structure companies by 1.6%.
06/17/19
RAJA
06/17/19
INITIATION
RAJA
Market Perform
Tradeweb Markets initiated with a Market Perform at Raymond James
Raymond James analyst Patrick O'Shaughnessy started Tradeweb Markets with a Market Perform rating saying the company is "attractive" but trades at a "premium" valuation.
04/29/19
04/29/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Iovance Biotherapeutics (IOVA) initiated with an Overweight at Piper Jaffray. 2. Tradeweb Markets (TW) initiated with a Market Perform at Wells Fargo, a Hold at Jefferies and Sandler O'Neill, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at BofA/Merrill, Goldman Sachs, Credit Suisse, and Citi. 3. Penn Virginia (PVAC) initiated with an Outperform at Imperial Capital. 4. NGM Biopharmaceuticals (NGM) initiated with an Outperform at Cowen as well as a Buy at Goldman Sachs and Citi. 5. Silk Road Medical (SILK) initiated with an Overweight at JPMorgan, an Outperform at BMO Capital, a Buy at Stifel, and a Neutral 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.
COLD Americold Realty Trust
$35.16

-0.23 (-0.65%)

03/13/19
03/13/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CVS Health (CVS) initiated with an Outperform at Bernstein. 2. Rhythm Pharmaceuticals (RYTM) initiated with a Buy at Ladenburg. 3. Solaris Oilfield (SOI) initiated with a Buy at B. Riley FBR. 4. Americold Realty Trust (COLD) initiated with a Buy at Berenberg. 5. Cheniere Energy (LNG) initiated with an Outperform at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/01/19
SBSH
07/01/19
INITIATION
Target $38
SBSH
Buy
Americold Realty Trust initiated with a Buy at Citi
Citi analyst Michael Bilerman started Americold Realty Trust with a Buy rating and $38 price target. Americold is only public real estate investment trust focused on temperature controlled warehouses and fulfillment solutions, Bilerman tells investors in a research note. He likes the company's niche business model, scale, market share and lack of competitors.
07/01/19
07/01/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. IAA (IAA) initiated with a Buy at SunTrust. 2. Cardlytics (CDLX) initiated with an Outperform at William Blair. 3. Americold Realty Trust (COLD) initiated with a Buy at Citi. 4. Lyft (LYFT) initiated with a Neutral at Monness Crespi. 5. Fortress Biotech (FBIO) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
BREN
03/13/19
INITIATION
Target $35
BREN
Buy
Americold Realty Trust initiated with a Buy at Berenberg
Berenberg initiated Americold Realty Trust with a Buy and $35 price target.
DD DuPont
$69.54

1.67 (2.46%)

06/20/19
RBCM
06/20/19
INITIATION
Target $80
RBCM
Sector Perform
DuPont initiated with a Sector Perform at RBC Capital
RBC Capital analyst Arun Viswanathan initiated DuPont (DD) with a Sector Perform rating and a price target of $80 after its completed spin-offs, saying the current valuation asks investors for a "leap of faith" with multiples comparable to multi-industry peers like 3M (MMM) and Honeywell (HON). The analyst notes that although the company's improvements are "tangible", he also sees its prospects as more dependent on the macro conditions. Given the softer auto and smartphone demand in China, Viswanathan prefers to have "greater confidence" in DuPont performance before assigning a higher multiple.
08/07/19
BMOC
08/07/19
NO CHANGE
Target $85
BMOC
Outperform
DuPont price target lowered to $85 from $95 at BMO Capital
BMO Capital analyst John McNulty lowered his price target on DuPont to $85 to reflect the more challenging macro backdrop but keeps his Outperform rating after the company's "solid" Q2 earnings beat. The analyst contends that the management will continue to focus on costs and efficiency measures, and the company has "significant flexibility" against the headwinds given its solid balance sheet and cash flow expected in 2020.
07/05/19
LOOP
07/05/19
NO CHANGE
Target $30
LOOP
Hold
Corteva may be on the hook for legacy DuPont liabilities, says Loop Capital
Loop Capital analyst Chris Kapsch lowered his price target on Corteva (CTVA) to $30 from $31 and kept his Hold rating, saying the complaint brought this week in the courts by Chemours (CC) against DuPont (DD) suggests there is still "dust to settle" regarding legacy DuPont environmental and personal injury liabilities, for which Corteva may be partially responsible. The analyst notes that the prospective liability is "impossible to precisely quantify", but he estimates that it could be somewhere between the $790M amount previously referenced in Corteva's recent 10-Q filing and a maximum of about $1.2B.
06/25/19
ARGS
06/25/19
NO CHANGE
Target $88
ARGS
Buy
DuPont should realize $1.1B of merger cost synergies by 2020E, says Argus
Argus analyst Bill Selesky reiterated a Buy rating on DuPont (DD), the renamed DowDuPont (DWDP), with a revised price target of $88, telling investors in a research note that he believes DuPont is on track to realize $1.1B of merger cost synergies by the end of 2020, compared to an original target of $0.8B, and says he feels DuPont should be viewed as a leading multi-industry, specialty material company with an "attractive" valuation, sustainable dividend and above-average earnings growth rate.
STZ Constellation Brands
$194.77

1.64 (0.85%)

07/03/19
STFL
07/03/19
NO CHANGE
STFL
Buy
Linton's vision to be 'sorely missed' at Canopy, says Stifel
Stifel analyst W. Andrew Carter maintained a Buy rating on Canopy Growth (CGC) after the company announced a "surprising" change in leadership, with founder and co-CEO Bruce Linton stepping down from his roles, Mark Zekulin stepping in as CEO, and the board searching for a permanent successor at CEO. Carter believes the board is "is likely unsatisfied with the company's operational performance in recent periods and sees a change in leadership as necessary to right the ship" but also believes Linton's vision and founder status will be "sorely missed." The analyst also noted that Constellation Brands (STZ), Canopy's largest investor, now has four of six total board seats, and had previously stated that it was not pleased with Canopy's recent performance, supporting "Canopy on a more focused long-term strategy to win markets and form factors that matter."
07/17/19
JEFF
07/17/19
NO CHANGE
Target $270
JEFF
Buy
Constellation Brands can deliver on beer segment guidance, says Jefferies
Jefferies analyst Kevin Grundy says his beer portfolio deep dive by brand points to ~6%-7% volume growth over the next five years for Constellation Brands, which he believes supports consensus estimates and the company's high-single-digit percentage sales outlook. While skepticism has grown regarding Constellation's growth sustainability, the analysis should help investors find greater comfort in its outlook, Grundy tells investors in a research note. He believes the company's risk/reward "remains compelling" and keeps a Buy rating on the shares. The analyst lowered his price target for Constellation Brands to $270 from $274.
07/15/19
BOFA
07/15/19
DOWNGRADE
Target $50
BOFA
Underperform
BofA/Merrill double downgrades Molson Coors to Underperform
As previously reported, BofA Merrill Lynch analyst Bryan Spillane downgraded Molson Coors (TAP) two notches, to Underperform from Buy, citing the heightened potential he sees that the company will need to increase spending to stabilize core brands' market share and invest in premium and "beyond" beer segments. To support his view, Spillane notes that Molson Coors has continued to lose market share in FY19 as competitors such as AB InBev (BUD), Heineken (HEINY), Constellation (STZ) and Boston Beer (SAM) have increased marketing/brand support and that products like hard seltzers and canned wine pose further risk to domestic light beer. He lowered his price target on Molson Coors shares to $50 from $70.
07/01/19
JEFF
07/01/19
NO CHANGE
Target $274
JEFF
Buy
Constellation Brands price target raised to $274 from $264 at Jefferies
Jefferies analyst Kevin Grundy raised his price target for Constellation Brands (STZ) to $274 from $264 citing the company's "strong" Q1 and updated fiscal 2020 guidance. The share setup "remains compelling" with beer sales momentum continuing, margin expectations "reasonable," dilution from the wine asset sale understood, and with Canopy Growth (CGC) still offering "unique exposure" to the cannabis space, Grundy tells investors in a research note. The analyst calls Constellation his top pick and he sees scope for the stock to re-rate higher.
CELG Celgene
$94.22

0.2 (0.21%)

06/24/19
CANT
06/24/19
NO CHANGE
Target $100
CANT
Neutral
Celgene pushback surprising, but deal should still close, says Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young said she was surprised by the FTC pushback around Otezla and its overlap in psoriasis related to Celgene's (CELG) oral TYK2 program BMS-986165 in psoriasis given that the latter has not yet reported Phase 3 data. After speaking to Bristol-Myers (BMY), Young said management was also disappointed in this FTC decision, which they said was not related to current asset Orencia marketed for rheumatoid arthritis, juvenile idiopathic arthritis, and psoriatic arthritis. Though timelines are delayed, she still sees "a high likelihood" that the deal closes, but potentially 4-6 months behind schedule. Young, who sees many players in Inflammation & Immunology that could leverage oral Otezla with their existing salesforce, added that Bristol may not lose much in value from this divestiture if the process is competitive. She keeps a Neutral rating and $100 price target on Celgene shares.
05/28/19
GSCO
05/28/19
INITIATION
Target $54
GSCO
Buy
Bristol-Myers initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Bristol-Myers Squibb with a Buy rating and $54 price target. Bristol-Myers is trading at a "significant discount to the group," Flynn tells investors in a research note. The analyst says his call is based on valuation, and he sees potential for multiple expansion whether or not the Celgene (CELG) acquisition closes.
07/17/19
MZHO
07/17/19
NO CHANGE
Target $103
MZHO
Buy
Amgen seen by Mizuho as 'most likely' buyer of Celgene's Otezla
In the wake of the recent announcement that Bristol-Myers (BMY) plans to divest Otezla as part of its deal to acquire Celgene (CELG), Mizuho analyst Salim Syed said he has received questions on who could be a realistic buyer. He believes the "most likely" buyer would be Amgen (AMGN), followed by Johnson & Johnson (JNJ), which he would label as a "likely" buyer. Syed identifies the "less likely, but possible" buyers as Eli Lilly (LLY) and Regeneron (REGN). The analyst, who said Otezla is worth anywhere from $5B-$10B depending on the view of sales and synergy potential, keeps a Buy rating and $103 price target on Celgene shares.
06/25/19
WBLR
06/25/19
NO CHANGE
WBLR
Outperform
Bristol-Myers sentiment suffered 'double hit' yesterday, says William Blair
William Blair analyst Matt Phipps said Bristol-Myers (BMY) suffered a "double hit to sentiment" yesterday with the news of both the CheckMate-459 trial failure in first-line hepatocellular carcinoma and delay of the closing of its Celgene (CELG) deal due to the required Otezla divestiture. He had previously modeled Opdivo sales in the front-line setting of over $1B and Otezla sales growing to $3B before loss of exclusivity in 2028 and decreased his out-year EPS estimates by over $1.00 due to yesterday's news. However, although near-term sentiment is dampened, he still sees a long-term opportunity, said Phipps, who keeps an Outperform rating on Bristol-Myers shares.
AXP American Express
$124.31

0.37 (0.30%)

07/22/19
BMOC
07/22/19
NO CHANGE
Target $119
BMOC
Market Perform
American Express price target raised to $119 from $114 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on American Express to $119 and kept his Market Perform rating after its Q2 results that showed lower credit and operating costs being offset by lower net interest margins and volumes. The analyst believes that the company's earnings growth will remain pressured by falling merchant discount rates and rising customer engagement costs, having "stalled" at about about 10%-11%.
07/22/19
RBCM
07/22/19
NO CHANGE
Target $125
RBCM
Sector Perform
American Express price target raised to $125 from $120 at RBC Capital
RBC Capital analyst Jon Arfstrom raised his price target on American Express to $125 after its Q2 earnings beat, saying the quarter benefited from a lower than expected loan loss provision and seasonally stronger billings and loan growth. The analyst further notes that the company's credit trends were stable and fundamentals remain solid. Arfstrom keeps his Sector Perform rating, adding that the stock may be an attractive long-term holding for investors seeking a high quality core holding, but his near-term neutral view balances the positive outlook with a premium valuation.
07/10/19
WELS
07/10/19
NO CHANGE
Target $140
WELS
Outperform
American Express price target raised to $140 from $135 at Wells Fargo
Wells Fargo analyst Donald Fandetti raised his price target for American Express to $140 from $135 ahead of quarterly results as he expects "meet and beats" into earnings from the card networks and issuers, as the U.S. consumer data points he tracks are holding up well. The analyst reiterates an Outperform rating on the shares.
07/08/19
DBAB
07/08/19
INITIATION
Target $142
DBAB
Buy
American Express reinstated with a Buy at Deutsche Bank
Deutsche Bank analyst Dave Rochester reinstated coverage of American Express with a Buy rating and $124 price target.
BSX Boston Scientific
$42.75

0.43 (1.02%)

08/07/19
PIPR
08/07/19
NO CHANGE
PIPR
Piper says FDA update on paclitaxel-coated devices 'likely keeps the status quo'
After the FDA issued an update on its analysis of a late mortality signal in patients treated for peripheral artery disease in the femoropopliteal artery with paclitaxel-coated balloons and paclitaxel-eluting stents, Piper Jaffray analyst Matt O'Brien said the FDA's conclusion "likely keeps the status quo as far as usage in 2019." However, he still sees a significant patency benefit with these devices and expects further clinical data to resolve doctor's concerns in the longer-term, O'Brien stated. Makers of paclitaxel-coated devices include Boston Scientific (BSX) and Medtronic (MDT).
06/27/19
STFL
06/27/19
NO CHANGE
Target $46
STFL
Buy
Boston Scientific price target raised to $46 after analyst day at Stifel
Stifel analyst Rick Wise said Boston Scientific hosted a "compelling" analyst day at which the company highlighted an "impressive array of sizable, recently-launched and future pipeline opportunities." The company's 2020-2022 targets are largely in-line with his and current consensus estimates and he senses this guidance is "highly achievable, if not conservative," Wise stated following the event. The analyst, who left his estimates largely unchanged but said he feels increasingly confident about his long-term projections, maintains a Buy rating on Boston Scientific with a price target of $46, up from $44 previously.
07/24/19
PIPR
07/24/19
NO CHANGE
Target $50
PIPR
Overweight
Boston Scientific second half guidance achievable, says Piper Jaffray
Boston Scientific's Q2 results were essentially in line with consensus estimates as "some concerning areas" from Q1 persisted, such as Neuromod, but were offset by faster growth areas like Medsurg and Structural Heart, Piper Jaffray analyst Matt O'Brien tells investors in a research note. The second half of 2019 acceleration in the core business, implied by the unchanged guidance, is achievable, says the analyst. He reiterates an Overweight rating on Boston Scientific shares with a $50 price target.
07/03/19
FBCO
07/03/19
NO CHANGE
Target $45
FBCO
Outperform
Sales of Boston Scientific's bead business not surprising, says Credit Suisse
Credit Suisse analyst Matt Miksic notes that Boston Scientific (BSX) has agreed to sell its portfolio of drug-loadable microspheres and "bland" embolic bead products for treating arteriovenous malformations and hyper vascular tumors to Varian (VAR) for $90M.The analyst does not view it as surprising, and reiterates an Outperform rating and $45 target on Boston Scientific's shares.
NFLX Netflix
$313.30

2.38 (0.77%)

07/18/19
ADAM
07/18/19
NO CHANGE
Target $415
ADAM
Buy
Netflix subscriber weakness likely temporary, says Canaccord
Canaccord analyst Michael Graham noted Netflix reported mixed results as the subscriber net additions missed guidance and his estimates, but revenue growth accelerated for the second straight quarter, and Q3 subscriber growth should accelerate on international strength. The analyst said the subscriber miss may weigh on the shares but he still sees a strong content strategy and room to add large numbers of international subscriptions going forward. Graham reiterated his Buy rating and $415 price target on Netflix shares.
07/19/19
NEED
07/19/19
NO CHANGE
NEED
Hold
Netflix sub losses are the 'new normal', says Needham
Needham analyst Laura Martin keeps her Hold rating on Netflix (NFLX) after its Q2 net subscriber adds missed expectations with a loss of 130K U.S. subs, saying her survey of subscribers to glean the cause of churn suggests that losses may be the "new normal" for the company. The analyst notes that the churn has been linked to the "relative perceived content quality" each month with SVOD services being "not additive", as evidenced by 12% of Netflix's subscribers responding that they turned off their service to watch Game of Thrones in Q2. Martin adds that the launch of Disney+ (DIS) priced at $5.83 per month with a 1-year contract will hurt Netflix's U.S. subs unless it can also discount its service.
08/12/19
NEED
08/12/19
NO CHANGE
Target $150
NEED
Buy
Roku price target raised to $150 from $120 at Needham
Needham analyst Laura Martin raised her price target on Roku (ROKU) to $150 and kept her Buy rating, saying the stock remains her top mid-cap pick for 2019. The analyst contends that given their similar enterprise value to forward revenue multiples, she prefers Roku to Netflix (NFLX) as its "value proposition" to advertisers is on the rise. Martin is positive on Roku's position as an "arms dealer" in the OTT race, which makes it "indifferent" to which service or business model wins as long as it can sustain its revenue share from every service. At $150, Needham also has the highest price target on Roku on the Street.
08/08/19
DADA
08/08/19
NO CHANGE
Target $135
DADA
Buy
Roku price target raised to $135 from $110 at DA Davidson
DA Davidson analyst Tom Forte raised his price target on Roku (ROKU) to $135 and kept his Buy rating after its above-consensus Q2 results. The analyst says the company is "one of the pioneers" in the secular shift toward over-the-top video consumption with "massive" potential of content spending by Amazon (AMZN), Apple (AAPL), Disney (DIS), and Netflix (NFLX) enhancing Roku's platform.
ADBE Adobe
$293.52

4.75 (1.64%)

06/19/19
FBCO
06/19/19
NO CHANGE
Target $325
FBCO
Outperform
Adobe price target raised to $325 from $300 at Credit Suisse
Credit Suisse analyst Brad Zelnick raised his price target for Adobe to $325 from $300 following another "solid quarter" of both Digital Media ARR and Digital Experience revenue exceeding expectations. While Q3 guidance was a touch light, Q4 commentary was positive and guidance remains conservative, he contends. The analyst anticipates the ARR momentum continues, particularly with Document Cloud, as Adobe can both attract new customers and increase ARPU across the user base. Zelnick reiterates an Outperform rating on the shares.
07/17/19
UBSW
07/17/19
NO CHANGE
Target $330
UBSW
Buy
UBS believes Adobe can sustain profit growth
UBS analyst Jennifer Lowe kept her Buy rating and $330 price target on Adobe, saying that in spite of its revenue stream shifting to lower-margin Digital Experience channel from the higher margin Digital Media segment, she believes the company can sustain an operating profit and earnings growth of 20% or more. The analyst contends that the company's profit growth should support the current enterprise value to expected 2020 earnings multiple of 31-times and expects Adobe shares to continue moving higher.
06/20/19
ARGS
06/20/19
NO CHANGE
Target $320
ARGS
Buy
Adobe positioned at 'center of exploding market' for digital video, says Argus
Argus analyst Joseph Bonner kept his Buy rating and $320 price target on Adobe after its "strong" Q2 results, also maintaining his FY19 and FY20 EPS forecasts of $7.85 and $9.77. The analyst believes that the company is well positioned at the "center of the exploding market for digital video content" with a unique asset collection in its Creative Cloud digital content portfolio. Bonner further sees Adobe continuing to "accelerate organic product refreshes and new rollouts" as well as partnering with industry leaders to drive further growth.
06/19/19
RBCM
06/19/19
NO CHANGE
Target $295
RBCM
Outperform
Adobe price target raised to $295 from $290 at RBC Capital
RBC Capital analyst Matthew Hedberg raised his price target on Adobe to $295 and kept his Outperform rating after its better than expected Q2 results. The analyst also notes that while the company's Q3 outlook was below consensus, its maintained FY19 guidance implies a "big Q4", which he sees as "very much achievable". The analyst contends that Adobe is just beginning to "flex pricing" for its Creative base, which has had static rates )since the launch of the service in FY12. Hedberg further believes that the company's Creative Suite conversion opportunity is "under-appreciated" with as many as 6M users still in the install base, while noting that its operating expenses could also come in lower.
MSFT Microsoft
$137.97

2.21 (1.63%)

08/05/19
MSCO
08/05/19
NO CHANGE
Target $170
MSCO
Overweight
IBM guidance with Red Hat in-line with Morgan Stanley expectations
After IBM (IBM) guided calendar year 2019 EPS of "at least" $12.80 when factoring in Red Hat, Morgan Stanley analyst Katy Huberty said this was in-line with her expectation ahead of the event. Following the company's Red Hat presentation, Huberty shifted some of her revenue and EPS forecast into Q4 to reflect the mainframe cycle, but her 2019 estimates for IBM remained otherwise unchanged. Huberty, who thinks Red Hat provides the horizontal platform to bridge the public clouds of AWS (AMZN), Azure (MSFT), GCP (GOOGL), and IBM Cloud, said the "Red Hat acquisition is all about positioning for Chapter 2 of cloud," which will be focused on enterprises' mission critical workloads. Huberty keeps an Overweight rating and $170 price target on IBM shares.
07/26/19
PIPR
07/26/19
NO CHANGE
Target $145
PIPR
Overweight
Proofpoint price target raised to $145 from $140 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski raised his price target for Proofpoint (PFPT) to $145 from $140 saying the company's Q2 results were "very consistent with historical standards," beating the high-end of revenue guidance by 1.2% and billings by 0.9%.Management only raised the annual guidance by roughly the same amount as the beat, likely setting up for another beat in Q3, Nowinski tells investors in a research note. He believes Proofpoint continues to extend its lead in terms of market share over Microsoft (MSFT) and others, and reiterates an Overweight rating on the shares.
07/25/19
ARGS
07/25/19
NO CHANGE
Target $158
ARGS
Buy
Microsoft price target raised to $158 from $145 at Argus
Argus analyst Joseph Bonner raised his price target on Microsoft to $158 and kept his Buy rating, also raising his FY20 EPS view by 25c to $5.26 after the company's "strong" performance in FY19. The analyst says CEO Satya Nadella has succeeded in pivoting the company toward a "high-value commercial and cloud application businesses", adding that its commercial revenues are well-positioned to grow given Microsoft's "massive" user base.
07/25/19
JMPS
07/25/19
NO CHANGE
Target $325
JMPS
Market Perform
ServiceNow price target raised to $325 from $280 at JMP Securities
JMP Securities analyst Patrick Walravens raised his price target on ServiceNow (NOW) to $325 but kept his Market Perform rating after its mixed Q2 results with an earnings beat and a miss in subscription revenue and billings. The analyst notes however that the company's mid-30% growth of its Recovery Point Objective, or RPO, business is a positive, and also cites the management's spending discipline and partnership expansion with Microsoft (MSFT).
ROST Ross Stores
$106.79

3.55 (3.44%)

06/27/19
06/27/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FactSet (FDS) downgraded to Sell from Neutral at Goldman Sachs with analyst George Tong saying he believes FactSet faces "secular challenges" in the financial services end-market due to the implementation of MiFID II and the ongoing shift from active to passive asset management. 2. Travelers (TRV) downgraded to Sell from Hold at Deutsche Bank with analyst Joshua Shanker saying the commercial Property & Casualty sector is "largely overvalued" due to an intra-sector exodus from more rate-sensitive financials into P&C insurance stocks. 3. Sempra Energy (SRE) downgraded to Neutral from Buy at BofA/Merrill with analyst Julien Dumoulin-Smith citing share outperformance and moderating expectations on expedited CA legislation by the July 12 deadline combined with a potential credit downgrade. 4. W. R. Berkley (WRB) downgraded to Sell from Hold at Deutsche Bank with analyst Joshua Shanker saying investors are mistaking the appreciation in Property and Casualty insurance stocks as the "fruit of renewal rate pricing increases in the P&C market." 5. Ross Stores (ROST) and Nordstrom (JWN) downgraded to Sell from Neutral at Goldman Sachs. 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
GSCO
06/27/19
DOWNGRADE
Target $30
GSCO
Sell
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.
06/27/19
GSCO
06/27/19
DOWNGRADE
Target $91
GSCO
Sell
Goldman downgrades Ross Stores to Sell, cuts price target to $91 from $102
Goldman Sachs analyst Alexandra Walvis downgraded Ross Stores (ROST) to Sell from Neutral and lowered her price target for the shares to $91 from $102. 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 (JWN) and Ross Stores to Sell. She believes the recent rally in Ross shares is overdone given the risks that recent execution challenges persist. Further, Walvis forecasts limited upside from the company's strategic initiatives.
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.
BAX Baxter
$87.29

1.68 (1.96%)

07/25/19
PIPR
07/25/19
NO CHANGE
Target $95
PIPR
Overweight
Baxter price target raised to $95 from $90 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien said Baxter's Pharmaceuticals and Advanced Surgery segments "were the standouts" for the second quarter in a row, adding that he thinks management's guidance raise "reflects positively on the momentum in the business in the near-term." O'Brien, who expects share repurchases to continue to push the stock higher, keeps an Overweight rating on Baxter shares and raised his price target on the stock to $95 from $90.
07/26/19
BMOC
07/26/19
NO CHANGE
Target $95
BMOC
Outperform
Baxter price target raised to $95 from $88 at BMO Capital
BMO Capital analyst Joanne Wuensch raised her price target on Baxter to $95 and kept her Outperform rating, saying Q2 has changed the trajectory of mixed quarters with a 4% operational growth and recovery in its Medication Delivery and Nutrition division. The analyst says the company "room left on the runway" as it expands its product portfolio and gathers operating leverage.
07/26/19
FBCO
07/26/19
NO CHANGE
Target $95
FBCO
Outperform
Baxter price target raised to $95 from $84 at Credit Suisse
Credit Suisse analyst Matt Miksic raised his price target for Baxter to $95 from $84 and maintained an Outperform rating following the company's Q2 results, saying the results help shift the Med Delivery debate towards greater confidence in the 2019 6% growth target. Baxter's performance should help to reduce uncertainty on this issue and create more interest among investors, according to the analyst.
07/26/19
RAJA
07/26/19
NO CHANGE
Target $95
RAJA
Outperform
Baxter price target raised to $95 from $84 at Raymond James
Raymond James analyst Lawrence Keusch raised his price target on Baxter shares to $95 from $84 following a "solid" quarter marked by outperformance in its Advanced Surgery, Pharmaceuticals, and Medication Delivery segments. In particular, the recent momentum in Medication Delivery gives him increasing confidence in Baxter's ability to accelerate growth in the second half, said Keusch, who keeps an Outperform rating on the stock.
CPB Campbell Soup
$42.20

0.08 (0.19%)

06/11/19
EVER
06/11/19
INITIATION
Target $43
EVER
In Line
Campbell Soup initiated with an In Line at Evercore ISI
Evercore ISI analyst David Palmer started Campbell Soup with an In Line rating and $43 price target.
06/06/19
JPMS
06/06/19
NO CHANGE
Target $38
JPMS
Underweight
Campbell Soup valuation still not supported by fundamentals, says JPMorgan
JPMorgan analyst Ken Goldman raised his price target for Campbell Soup to $38 from $34 while maintaining an Underweight rating on the shares. The analyst says that while the "story is improving," Campbell's valuation is still not supported by its fundamentals. The quality of the company's fiscal 2019 earnings growth "has not been ideal," Goldman tells investors in a research note. Further, the analyst expects the sale of Campbell's International biscuits to be dilutive to earnings.
03/27/19
PIPR
03/27/19
NO CHANGE
Target $35
PIPR
Underweight
Campbell Soup higher spending 'reset' still on table, says Piper Jaffray
Campbell Soup has taken important steps to improve its business and has improving visibility on the remainder of its second half of fiscal 2019 outlook, Piper Jaffray analyst Michael Lavery tells investors in a research note titled "Reset Risk May Still Remain." While recognizing the company's "better momentum," the analyst says he remains a "bit uncertain" about its brand investment ambitions in fiscal 2020. A step-up in spending on innovation, product quality and marketing may still be needed and has not been ruled out by the company, says Lavery. As such, higher spending, possibly a "reset," is still on the table, contends the analyst. He lowered his price target for Campbell Soup to $35 from $36 and reiterates an Underweight rating on Campbell Soup.
06/06/19
FBCO
06/06/19
NO CHANGE
Target $36
FBCO
Underperform
Campbell Soup price target raised to $36 from $30 at Credit Suisse
Credit Suisse analyst Robert Moskow raised his price target for Campbell Soup to $36 from $30 due to "less bad" sales and operating profit than he feared. That said, the analyst does not recommend chasing the stock's jump. While CEO Mark Clouse described the soup business as showing "signs of stabilization," he also said that weak retail sales trends provided "further realization" of the need for additional investment to give soup a chance for growth in the future, Moskow adds. The analyst reiterates an Underperform rating on the shares.
UTX United Technologies
$129.92

1.89 (1.48%)

06/24/19
06/24/19
UPGRADE

Outperform
United Technologies upgraded to Outperform from Market Perform at Cowen
As previously reported, Cowen analyst Cai von Rumohr upgraded United Technologies (UTX) to Outperform from Market Perform following the selloff in the shares after the Raytheon (RTN) merger announcement. The analyst raised his price target on United Technologies shares to $150 from $135. The analyst was positive on the "attractive" proposed Raytheon merger, seeing synergies in hypersonics, directed energy, ISR, cyber protection for connected aircraft, and air traffic control. The analyst also liked United Technologies for the "extended Aerospace cash ramp," as they see a likely multiyear margin/cash flow ramp in that space.
07/08/19
JPMS
07/08/19
DOWNGRADE
Target $231
JPMS
Underweight
JPMorgan's Tusa downgrades Lennox to Underweight with $231 price target
JPMorgan analyst Stephen Tusa downgraded Lennox International (LII) to Underweight from Neutral with an unchanged price target of $231. The analyst this morning also upgraded Johnson Controls (JCI) to Neutral from Underweight. Lennox's standing premium to implied HVAC multiples "at soon to be pure play peers seems overdone," Tusa tells investors in a research note. The analyst believes the emergence of two new pure plays, "seemingly currently trading at ~30% discounts," dilutes Lennox's scarcity value. Tusa's price target implies 20% downside versus his Overweight-rated HVAC related names, Ingersoll-Rand (IR) and United Technologies (UTX).
06/24/19
06/24/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Technologies (UTX) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr citing the selloff in the shares after the Raytheon (RTN) merger announcement. 2. Deere (DE) and Agco (AGCO) upgraded to Buy from Hold at Jefferies. 3. Rent-A-Center (RCII) upgraded to Equal Weight from Underweight at Stephens with analyst Vincent Caintic citing what he sees as "massive potential" for third-party retailer Rent-To-Own, telling investors that he wouldn't want to be short any Rent-To-Own stock he covers as a result. 4. Hostess Brands (TWNK) upgraded to Buy from Neutral at UBS with Steven Strycula citing three catalysts he sees. 5. Dunkin' Brands (DNKN) upgraded to Outperform from Neutral at Wedbush with analyst Nick Steyan saying he believes Dunkin' U.S. is currently undergoing an inflection in same-store sales growth that is underappreciated by the Street. 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
06/24/19
DOWNGRADE

Neutral
Raytheon downgraded to Neutral from Buy at Buckingham
As previously reported, Buckingham analyst Richard Safran downgraded Raytheon (RTN) to Neutral from Buy and lowered his price target on the shares to $195 from $265. The analyst said that initially he was neutral on the deal with United Technologies (UTX), which Buckingham does not cover, but now believes it is a solid deal for United Technologies that "possibly undervalues" Raytheon. Safran added that until the deal is either completed or denied by the Pentagon, Raytheon shares will now be tied to United Technologies.
IQV Iqvia
$155.88

0.36 (0.23%)

07/25/19
WELS
07/25/19
NO CHANGE
Target $178
WELS
Outperform
Iqvia price target raised to $178 from $170 at Wells Fargo
Wells Fargo analyst Jamie Stockton raised his price target for Iqvia to $178 from $170 after the company reported a broad June quarter beat. The analyst reiterates an Outperform rating on the shares.
07/25/19
FBCO
07/25/19
NO CHANGE
Target $170
FBCO
Outperform
Iqvia price target raised to $170 from $165 at Credit Suisse
Credit Suisse analyst Erin Wilson Wright raised her price target for Iqvia to $170 from $165 as she is incrementally encouraged by its latest Q2 EPS upside, evidence of building traction with its Next Generation/Core offering and strong TAS organic growth. The analyst reiterates an Outperform rating on the shares.
07/25/19
JPMS
07/25/19
NO CHANGE
Target $180
JPMS
Overweight
Iqvia price target raised to $180 from $160 at JPMorgan
JPMorgan analyst Tycho Peterson raised his price target for Iqvia to $180 from $160 saying "healthy broad-based momentum" drove an increase in the company's outlook. He reiterates an Overweight rating on the shares.
06/27/19
RHCO
06/27/19
NO CHANGE
Target $175
RHCO
Buy
Iqvia price target raised to $175 from $155 at SunTrust
SunTrust analyst Sandy Draper raised his price target for Iqvia to $175 from $155 and reiterated a Buy rating after attending last week's investor day. In a research note to investors, Draper says he is confident enough in the improving growth outlook to show accelerating organic constant currency growth in 2020 and believes that trend could persist in 2021 and 2022, driven by bookings and backlog growth in the R&D segment and new product offerings and market share gains in Technology and Analytics.
DHR Danaher
$140.37

1.88 (1.36%)

07/18/19
PIPR
07/18/19
NO CHANGE
Target $153
PIPR
Neutral
Danaher price target raised to $153 from $148 at Piper Jaffray
Piper Jaffray analyst William Quirk raised his price target for Danaher to $153 from $148 after the company's Q2 results came in above expectations. The analyst is now "incrementally more confident" in Danaher's ability to deliver in 2019 and beyond following the GE Biopharma acquisition and dental initial public offering. However, he maintains a Neutral rating on the shares citing valuation.
07/19/19
BARD
07/19/19
NO CHANGE
Target $148
BARD
Outperform
Danaher price target raised to $148 from $131 at Baird
Baird analyst Richard Eastman raised his price target on Danaher to $148 from $131 following Q2 earnings. The analyst said despite rising global macro uncertainty, its momentum has remained largely intact reflecting both strategic/execution but also resiliency from its evolving portfolio mix. Eastman reiterated his Outperform rating on Danaher shares.
07/23/19
ARGS
07/23/19
NO CHANGE
Target $165
ARGS
Buy
Danaher price target raised to $165 from $145 at Argus
Argus analyst David Toung raised his price target on Danaher to $165 and kept his Buy rating after its "strong" Q2 earnings beat along with its raised FY19 EPS guidance reported last week. The analyst cites the company's sales growth in its U.S. and overseas markets and expects its "strong core business" to boost its earnings by double-digits and sales by mid-single-digits.
07/19/19
NEED
07/19/19
NO CHANGE
Target $155
NEED
Buy
Danaher price target raised to $155 from $142 at Needham
Needham analyst Stephen Unger raised his price target on Danaher to $155 and kept his Buy rating after its Q2 earnings beat and narrowed FY19 guidance to the upside. The analyst says he is "encouraged" by the company's "consistent" core revenue growth of its two main businesses - Beckman Coulter and Pall - along with its accelerated growth at Cepheid, adding that he expects earnings accretion of about 46c per share in FY20 from its pending GE Biopharma acquisition.
PYPL PayPal
$105.45

2.75 (2.68%)

07/29/19
07/29/19
DOWNGRADE
Target $104

Sell
PayPal downgraded to Sell on challenging 2020 at Guggenheim
As previously reported, Guggenheim analyst Jeff Cantwell downgraded PayPal (PYPL) to Sell from Neutral, with a $104 price target, as he believes shares will begin underperforming. The analyst sees management's lowered 2019 guidance as unwelcome ahead of what he expects will be a challenging 2020 for PayPal. Headwinds include the eBay (EBAY) separation, Brexit, and regulatory changes in Europe, he contends, adding that he expects these factors will cause a deceleration in TPV and revenue growth next year and new partnerships are unlikely to be enough to fully offset these significant headwinds in 2020.
08/08/19
KEYB
08/08/19
NO CHANGE
Target $55
KEYB
Overweight
PagSeguro Digital price target raised to $55 from $36 at KeyBanc
KeyBanc analyst Josh Beck raised his price target for PagSeguro Digital (PAGS) to $55 from $36 on sum-of-the-parts valuation. The analyst believes the narrative around the consumer-focused PagBank digital account could start to develop similar to other successful FinApps like Square (SQ)/Cash App or PayPal (PYPL)/Venmo. He reiterates an Overweight rating on PagSeguro Digital's shares.
07/29/19
GUGG
07/29/19
DOWNGRADE
Target $104
GUGG
Sell
PayPal downgraded to Sell from Neutral at Guggenheim
Guggenheim analyst Jeff Cantwell downgraded PayPal Holdings to Sell from Neutral with a $104 price target.
08/13/19
GUGG
08/13/19
UPGRADE
GUGG
Neutral
PayPal upgraded to Neutral from Sell at Guggenheim
Guggenheim analyst Jeff Cantwell upgraded PayPal Holdings to Neutral from Sell without a price target. The 11% pullback since July 26 has brought the stock below the analyst's previous price target of $104. The current share level better reflects PayPal's fair value, Cantwell tells investors in a research note. The analyst, who attributes increasing macro uncertainty for the recent selloff, sees a more balanced risk/reward at current share levels.

TODAY'S FREE FLY STORIES

GME

GameStop

$3.41

0.02 (0.59%)

17:07
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CVM

CEL-SCI

$8.54

-0.12 (-1.39%)

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Breaking Syndicate news story on CEL-SCI »

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LIQT

LiqTech

$6.76

0.32 (4.97%)

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LiqTech management to meet with Stephens »

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HTBK

Heritage Commerce

$11.52

-0.08 (-0.69%)

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AMCR

Amcor

$9.99

-0.12 (-1.19%)

16:53
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Amcor sees FY20 adjusted constant currency EPS growth of approximately 5%-10% »

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S

Sprint

$6.80

-0.155 (-2.23%)

16:50
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Sprint put spread is largest block on lightest volume day of the month »

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Cardinal Health

$43.74

0.26 (0.60%)

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Disney

$135.08

-0.25 (-0.18%)

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Sony

$55.69

-0.02 (-0.04%)

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AIG

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Amcor

$9.99

-0.12 (-1.19%)

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KLAC

KLA-Tencor

$140.38

-0.06 (-0.04%)

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KLA-Tencor officer Amichai Steimberg sells over $1.2M in company shares »

KLA-Tencor officer…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 17

    Sep

AMCR

Amcor

$9.99

-0.12 (-1.19%)

16:39
08/20/19
08/20
16:39
08/20/19
16:39
Hot Stocks
Amcor approves $500M share buyback »

Amcor CEO Ron Delia said:…

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 20

    Aug

16:38
08/20/19
08/20
16:38
08/20/19
16:38
General News
API crude inventories for week of August 16 »

API reports that crude…

JKHY

Jack Henry

$140.79

-0.72 (-0.51%)

16:36
08/20/19
08/20
16:36
08/20/19
16:36
Earnings
Jack Henry & Associates reports Q4 EPS 79c, consensus 77c »

Reports Q4 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 21

    Aug

  • 11

    Sep

  • 12

    Sep

CECO

Career Education

$21.94

-0.05 (-0.23%)

16:35
08/20/19
08/20
16:35
08/20/19
16:35
Hot Stocks
Career Education VP Michele Peppers sells over $221K in company shares »

Career Education VP…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 05

    Sep

  • 25

    Sep

  • 26

    Sep

ALC

Alcon

$62.45

0.66 (1.07%)

16:35
08/20/19
08/20
16:35
08/20/19
16:35
Earnings
Breaking Earnings news story on Alcon »

Alcon sees FY19 revenue…

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 21

    Aug

  • 04

    Sep

  • 09

    Sep

NDSN

Nordson

$135.43

-1.79 (-1.30%)

16:34
08/20/19
08/20
16:34
08/20/19
16:34
Hot Stocks
Nordson expects flat to modest organic sales growth in FY19 »

Expects an unfavorable…

03/08/13
Wedge Partners
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Citigroup
03/06/13
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  • 21

    Aug

HD

Home Depot

$217.14

9.165 (4.41%)

, KSS

Kohl's

$44.87

-3.33 (-6.91%)

16:34
08/20/19
08/20
16:34
08/20/19
16:34
On The Fly
Fly Intel: Wall Street's top stories for Tuesday »

The S&P 500 halted a…

HD

Home Depot

$217.14

9.165 (4.41%)

KSS

Kohl's

$44.87

-3.33 (-6.91%)

TJX

TJX

$51.55

(0.00%)

ELAN

Elanco

$27.25

-2.57 (-8.62%)

BAYRY

Bayer

$0.00

(0.00%)

SABR

Sabre

$23.73

-0.2 (-0.84%)

FB

Facebook

$183.76

-2.46 (-1.32%)

ENDP

Endo

$3.02

0.47 (18.43%)

MDT

Medtronic

$106.91

2.76 (2.65%)

SRPT

Sarepta

$101.90

-18.26 (-15.20%)

FN

Fabrinet

$46.40

-10 (-17.73%)

03/08/13
Wedge Partners
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Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 20

    Aug

  • 20

    Aug

  • 20

    Aug

  • 20

    Aug

  • 20

    Aug

  • 21

    Aug

  • 22

    Aug

  • 04

    Sep

  • 09

    Sep

  • 11

    Sep

  • 15

    Sep

  • 23

    Sep

  • 24

    Sep

  • 25

    Sep

  • 27

    Oct

NDSN

Nordson

$135.43

-1.79 (-1.30%)

16:33
08/20/19
08/20
16:33
08/20/19
16:33
Hot Stocks
Breaking Hot Stocks news story on Nordson »

Nordson reports FY19…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 21

    Aug

TOL

Toll Brothers

$36.91

0.52 (1.43%)

16:33
08/20/19
08/20
16:33
08/20/19
16:33
Earnings
Toll Brothers sees FY19 deliveries 7,800-8,100 units »

The company expects FY…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 21

    Aug

ALC

Alcon

$62.45

0.66 (1.07%)

16:33
08/20/19
08/20
16:33
08/20/19
16:33
Earnings
Alcon reports Q2 core EPS 47c, consensus 48c »

Reports Q2 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 21

    Aug

  • 04

    Sep

  • 09

    Sep

ORLY

O'Reilly Automotive

$383.21

-2.42 (-0.63%)

16:33
08/20/19
08/20
16:33
08/20/19
16:33
Hot Stocks
O'Reilly Automotive to acquire Mayasa Auto Parts, terms not disclosed »

O'Reilly Automotive…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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NDSN

Nordson

$135.43

-1.79 (-1.30%)

16:33
08/20/19
08/20
16:33
08/20/19
16:33
Earnings
Nordson reports Q3 GAAP EPS $1.62, consensus $1.81 »

Reports Q3 revenue $560M,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Aug

TOL

Toll Brothers

$36.91

0.52 (1.43%)

16:32
08/20/19
08/20
16:32
08/20/19
16:32
Earnings
Toll Brothers reports Q3 EPS $1.00, consensus 82c »

Reports Q3 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Aug

16:30
08/20/19
08/20
16:30
08/20/19
16:30
Options
Preliminary option volume of 15.2M today »

Preliminary option volume…

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