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MIK

Michaels

$5.42

0.235 (4.54%)

08:21
08/20/19
08/20
08:21
08/20/19
08:21

Michaels price target lowered to $4 from $5 at BofA/Merrill

BofA/Merrill analyst Curtis Nagle lowered his price target for Michaels to $4 from $5 and maintained an Underperform rating. Nagle tells investors in a research note that he expects Michaels shares to remain under pressure until a new CEO is named and investors gain confidence in the company's ability to regain market share and/or revitalize growth to stem operating deleverage.

  • 04

    Sep

  • 25

    Sep

MIK Michaels
$5.42

0.235 (4.54%)

07/12/19
LOOP
07/12/19
NO CHANGE
Target $15
LOOP
Buy
Michaels valuation attractive, bounce expected, says Loop Capital
Loop Capital analyst Laura Champine kept her Buy rating and $15 price target on Michaels, saying her latest round of store checks suggest progress on its merchandising initiatives. After a 5-month waiting period since the announcement of a transition, the analyst also expects the company's board to name a permanent CEO. At 3.5-times her expected FY19 earnings, Champine contends that the valuation on Michaels is "attractive", and she sees the stock as due for a bounce as results "stabilize" in FY19.
07/19/19
BOFA
07/19/19
DOWNGRADE
BOFA
Underperform
Michaels downgraded to Underperform from Neutral at BofA/Merrill
07/19/19
BOFA
07/19/19
DOWNGRADE
Target $5
BOFA
Underperform
Michaels downgraded to Underperform after consumer survey at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst Elizabeth Suzuki downgraded Michaels to Underperform from Neutral following a U.S. arts and crafts consumer survey that she said gave some color on why the company's same-store sales growth has been "lackluster. The survey lends support to her view that the company's potentially long-term struggles are unlikely to resolve, at least until a new CEO is found, said Suzuki, who lowered her price target on the shares to $5 from $9.
07/19/19
07/19/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. SAP (SAP) downgraded to Hold from Buy at Deutsche Bank with analyst Alex Tout saying he believes the company's momentum in Q2 fell short of what was needed for the shares to re-rate higher. 2. Alcoa (AA) downgraded to Hold from Buy at Argus and Jefferies. 3. Paycom (PAYC) downgraded to Hold from Buy at Jefferies with analyst Samad Samana citing valuation. 4. Michaels (MIK) downgraded to Underperform from Neutral at BofA/Merrill with analyst Elizabeth Suzuki citing a U.S. arts and crafts consumer survey that she said gave some color on why the company's same-store sales growth has been "lackluster. 5. News Corp. (NWSA) downgraded to Underweight from Neutral at JPMorgan with analyst Alexia Quadrani saying while the stock may appear attractively valued, she has little conviction in forward estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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FANG

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PEI

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MDR

McDermott

$1.66

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$NSD

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$NYE

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$0.00

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PHUN

Phunware

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0.21 (11.93%)

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MACK

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MAR

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WBA

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$54.79

0.365 (0.67%)

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GOOG

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$1,238.27

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EROS

Eros International

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GSK

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GRUB

GrubHub

$61.36

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XGN

Exagen

$0.00

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XGN

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CAIXY

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