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T

AT&T

$38.55

0.57 (1.50%)

, VZ

Verizon

$60.10

0.35 (0.59%)

13:52
09/11/19
09/11
13:52
09/11/19
13:52

AT&T CFO says promotional environment in wireless has been 'pretty reasonable'

AT&T (T) CFO John Stephens is presenting at the Bank of America Communications & Entertainment Conference. Other major wireless competitors include Verizon (VZ), T-Mobile (TMUS) and Sprint (S).

T

AT&T

$38.55

0.57 (1.50%)

VZ

Verizon

$60.10

0.35 (0.59%)

TMUS

T-Mobile

$79.39

1.09 (1.39%)

S

Sprint

$6.96

0.09 (1.31%)

  • 11

    Sep

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    Sep

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    Oct

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    Oct

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    Oct

T AT&T
$38.55

0.57 (1.50%)

09/10/19
OPCO
09/10/19
NO CHANGE
Target $41
OPCO
Outperform
Elliot's plan to accelerate AT&T shareowner value, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that Elliott Management sent a letter to AT&T's board of directors that it has taken a $3.2B effective ownership stake in the company and has a share price target of $60-plus by the end of 2021. Elliott's four-part plan recommends increased strategic focus, improving operational efficiencies, a formal capital allocation framework, and improved leadership, he adds. The analyst believes AT&T has the ability to increase shareholder value by continuing to focus more on higher growth segments that are in line with our shared infrastructure thesis. Horan notes the company is already implementing many of Elliott's recommendations, but believes it can be more aggressive with cost reductions and asset sales. He reiterates an Outperform rating and $41 price target on the shares.
09/11/19
WELS
09/11/19
NO CHANGE
Target $215
WELS
Market Perform
Apple focusing on presenting iPhone Pro as premium product, says Wells Fargo
Commenting on Apple's (AAPL) Tuesday event, Wells Fargo analyst Aaron Rakers notes that the company is focusing on presenting the iPhone Pro as a premium product. One of the biggest surprises was Apple's announced pricing for its Apple TV+ streaming service at $4.99/month versus Netflix (NFLX) $12.99 standard, Disney+ (DIS) $7.99, and HBO GO (T) $14.99, the analyst contends, adding that with a free 1-year Apple TV+ and Arcade subscription included with any new hardware purchase or upgrade, Apple is clearly focused on leveraging a subsidized pricing strategy to drive a user base as content expands. As Rakers thinks about the derivative read-though to his coverage of the NAND industry, the analyst believes that investors could be disappointed in Apple leaving its base NAND capacity point unchanged at 64GB. He reiterates a Market Perform rating and a $215 price target on Apple's shares.
09/10/19
LEHM
09/10/19
NO CHANGE
Target $35
LEHM
Equal Weight
AT&T price target raised to $35 from $31 at Barclays
Barclays analyst Kannan Venkateshwar raised his price target for AT&T (T) to $35 from $31 while keeping an Equal Weight rating on the shares. Activist Elliott Management is likely to have some impact on AT&T's strategic choices, with buybacks potentially being the most proximate, which should help close some of the company's valuation discount relative to Verizon Communications (VZ), Venkateshwar tells investors in a research note. However, while the analyst does not disagree with Elliott's take on the state of AT&T's business and some of its strategic choices, he believes that Elliott's "implicit assumptions driving some of its suggested solutions may be a bit too optimistic." Elliott suggests that AT&T should be more aggressive in monetizing larger assets such as DirecTV, but it is unclear who would buy this asset, adds the analyst.
09/11/19
FBCO
09/11/19
NO CHANGE
FBCO
Netflix head start unlikely dented by Apple TV+, says Credit Suisse
Credit Suisse analyst Douglas Mitchelson notes that his Netflix (NFLX) thesis already presumes increased competition in the future and Apple (AAPL) is noteworthy as it certainly has a "terrific brand and global distribution platform." However, the analyst believes Netflix's 10-year head start, scale, breath of content and customer engagement is unlikely to be dented by an Apple TV+ subscription service with a relatively light content slate and no library content. In fact, Apple TV+ looks more like an HBO (T) or Showtime than a Netflix, Hulu or Amazon Prime (AMZN), he contends, adding that he continues to believe SVOD will not be a zero sum game. Lastly, Mitchelson would expect Apple TV+ would more likely displace a runner-up than the leader.
VZ Verizon
$60.10

0.35 (0.59%)

08/29/19
NRCS
08/29/19
NO CHANGE
NRCS
Axon's latest body camera certified by Verizon, says Northcoast
Northcoast analyst Keith Housum says his research indicates that Axon Enterprise (AAXN) received certification for its Axon Body 3 this week from Verizon Communications (VZ). This represents a crucial first step in Axon selling its latest body-worn camera offering in the U.S., Housum tells investors in a research note. The analyst thinks Axon is awaiting certification from AT&T (T) and FirstNet before it launches full scale production of the camera. Housum added that his confidence in Axon gaining approvals before quarter-end is growing. He reiterates a Buy rating on Axon shares, which are up 2% to $61.18 in morning trading.
09/09/19
ADAM
09/09/19
NO CHANGE
Target $13
ADAM
Buy
Synchronoss weakness a buying opportunity, says Canaccord
Canaccord analyst T. Michael Walkley said the weakness in Synchronoss (SNCR) shares following a short report by Value Investors Club, is a buying opportunity. The analyst said the report suggested Verizon's (VZ) cloud business could face material revenue declines, discusses the well known STI risks, and assumes the company has limited access to new capital to refinance it convertible preferred equity. In addition to explaining each of the points, the analyst said the report does not account for the new major carrier deal that should be announced soon which he believes will be a key driver for Cloud growth in 2020. Walkley reiterated his Buy rating and $13 price target on Synchronoss shares.
08/27/19
08/27/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Verizon (VZ) upgraded to Outperform from Perform at Oppenheimer with analyst Timothy Horan saying he believes both Verizon and AT&T (T) will benefit from elevated T-Mobile (TMUS)/Sprint (S) churn from the new company. 2. WW (WW) upgraded to Buy from Hold at Craig-Hallum with analyst Alex Fuhrman saying he sees "improving trends" for the company with the positive reception of its Kurbo By WW launch and the upside potential of its new upcoming diet program launch. 3. Cree (CREE) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Coster citing valuation. 4. MongoDB (MDB) upgraded to Buy from Neutral at Citi with analyst Tyler Radke saying the shares have lagged high-growth peers the last six months on concerns around sustainability of growth. 5. Exelon (EXC) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Stephen Byrd saying after backing out the utility, Exelon's shares price in no value for its 32 GW unregulated merchant fleet, which generates "strong" free cash flow. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/19
LEHM
09/10/19
NO CHANGE
Target $35
LEHM
Equal Weight
AT&T price target raised to $35 from $31 at Barclays
Barclays analyst Kannan Venkateshwar raised his price target for AT&T (T) to $35 from $31 while keeping an Equal Weight rating on the shares. Activist Elliott Management is likely to have some impact on AT&T's strategic choices, with buybacks potentially being the most proximate, which should help close some of the company's valuation discount relative to Verizon Communications (VZ), Venkateshwar tells investors in a research note. However, while the analyst does not disagree with Elliott's take on the state of AT&T's business and some of its strategic choices, he believes that Elliott's "implicit assumptions driving some of its suggested solutions may be a bit too optimistic." Elliott suggests that AT&T should be more aggressive in monetizing larger assets such as DirecTV, but it is unclear who would buy this asset, adds the analyst.
TMUS T-Mobile
$79.39

1.09 (1.39%)

08/27/19
OPCO
08/27/19
UPGRADE
Target $70
OPCO
Outperform
Verizon upgraded to Outperform from Perform at Oppenheimer
Oppenheimer analyst Timothy Horan upgraded Verizon (VZ) to Outperform from Perform, with a $70 price target, ahead of T-Mobile (TMUS) and Sprint (S) merger as he believes both Verizon and AT&T (T) will benefit from elevated Sprint churn from the new company. Further, Horan argues that Verizon should be early and successful in its 5G network, and expects it to pick up a lot of mid-band spectrum inexpensively next year. Its ARPUs should continue growing, and strong cable wholesale growth is accretive, he adds.
08/27/19
OPCO
08/27/19
DOWNGRADE
OPCO
Perform
T-Mobile downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Timothy Horan upgraded T-Mobile (TMUS) to Perform from Outperform ahead of merger with Sprint (S), citing a difficult integration, as well as weak Sprint trends. Final approval could be on hold until Q1 of 2020 if the state attorneys general bring their lawsuit to trial, but there is still a 20% chance of rejection, he contends. The analyst expects Verizon (VZ)/AT&T (T) to aggressively target Sprint subscribers during the transition and, for the near-term, T-Mobile/Sprint trends look weak.
08/26/19
RAJA
08/26/19
UPGRADE
Target $44
RAJA
Strong Buy
Now is 'opportune time' to buy Dish, Raymond James says in double upgrade
Raymond James analyst Richard Prentiss double upgraded Dish (DISH) to Strong Buy from Market Perform with a $44 price target. Following the recent pullback on investor concerns about the shift from a spectrum bank to a wireless operator, now is the "opportune time" to buy shares of Dish, Prentiss tells investors in a research note. The T-Mobile (TMUS) and Sprint (S) merger saga should wrap up in the next six months, while 5G network deployments by U.S. carriers needing multiple spectrum bands should ramp, contends the analyst. He likes Dish whether it stays a pay TV-only operator or adds 4G wireless operations.
08/27/19
08/27/19
DOWNGRADE

Fly Intel: Top analyst downgrades
Catch up on today's top analyst downgrades with this list compiled by The Fly: 1. Cardinal Health (CAH) downgraded to Hold from Buy at Argus with analyst David Toung saying the margins of its Pharmaceutical Distribution segment remain under pressure entering FY20 after a 23bps contraction in FY19. 2. Red Robin (RRGB) downgraded to Underperform from Neutral at BofA/Merrill with analyst Gregory Francfort saying he believes the company's earnings growth will "materially miss" consensus expectations in 2020. 3. T-Mobile (TMUS) downgraded to Perform from Outperform at Oppenheimer. 4. Ultrapar (UGP) downgraded to Hold from Buy at Santander. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
S Sprint
$6.96

0.09 (1.31%)

08/19/19
KEYB
08/19/19
NO CHANGE
Target $292
KEYB
Overweight
SBA Communications price target raised to $292 from $259 at KeyBanc
KeyBanc analyst Brandon Nispel raised his price target for SBA Communications (SBAC) to $292 from $259 as he believes the tower operators are the key beneficiaries of 5G network deployments by U.S. carriers with the T-Mobile (TMUS)/Sprint (S) merger enabling upside organic growth drivers coming from Dish (DISH) and a potential acceleration from AT&T (T)/Verizon (VZ). He reiterates an Overweight rating on SBA Communications' shares.
08/19/19
KEYB
08/19/19
NO CHANGE
Target $253
KEYB
Overweight
American Tower price target raised to $253 from $225 at KeyBanc
KeyBanc analyst Brandon Nispel raised his price target for American Tower (AMT) to $253 from $225 as he believes the tower operators are the key beneficiaries of 5G network deployments by U.S. carriers with the T-Mobile (TMUS)/Sprint (S) merger enabling upside organic growth drivers coming from Dish (DISH) and a potential acceleration from AT&T (T)/Verizon (VZ). He reiterates an Overweight rating on American Tower's shares.

TODAY'S FREE FLY STORIES

KRC

Kilroy Realty

$77.86

0.36 (0.46%)

16:28
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X

U.S. Steel

$12.45

-0.51 (-3.94%)

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Earnings
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ARES

Ares Management

$30.82

0.15 (0.49%)

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Ares Management files to sell 7M shares of Class A common stock »

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X

U.S. Steel

$12.45

-0.51 (-3.94%)

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Earnings
U.S. Steel sees Q3 EPS (35c), consensus (7c) »

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  • 23

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APTS

Preferred Apartment

$14.28

-0.24 (-1.65%)

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Preferred Apartment acquires 218-unit multifamily community in Tampa, Florida »

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SVRA

Savara

$2.49

-0.14 (-5.32%)

16:20
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Savara to present additional Molgradex data at ERS »

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
Closing CBOE SPX and VIX Index summary for September 18th »

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16:20
09/18/19
09/18
16:20
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16:20
General news
More division on the FOMC amid myriad uncertainties »

More division on the FOMC…

BA

Boeing

$386.31

1.7 (0.44%)

16:17
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16:17
Periodicals
FAA head says won't unground 737 MAX until he flies it himself, CNBC says »

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  • 02

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TNDM

TNDM

16:17
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Tandem Diabetes says published results of t:slim X2 pump show reduced events »

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  • 19

    Sep

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
09/18/19
09/18
16:17
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16:17
Technical Analysis
NASDAQ market internals summary »

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HCP

HCP

$34.94

-0.18 (-0.51%)

16:16
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HCP announces $1B commercial paper note program »

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KEY

KeyCorp

$18.22

0.09 (0.50%)

16:16
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KeyCorp lowers prime lending rate to 5.00% »

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  • 17

    Oct

FBM

Foundation Building Materials

$18.92

0.03 (0.16%)

16:16
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16:16
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Syndicate
Foundation Building Materials files to sell 4.75M shares of common stock »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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Technical Analysis
NYSE market internals summary »

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PLAY

Dave & Buster's

$40.75

0.23 (0.57%)

16:15
09/18/19
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Initiation
Dave & Buster's initiated  »

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PRVB

Provention Bio

$9.67

0.3 (3.20%)

16:14
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Syndicate
Provention Bio files to sell common stock, no amount given »

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  • 02

    Oct

COST

Costco

$292.37

0.86 (0.30%)

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Costco rating change  »

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  • 03

    Oct

SPFI

South Plains Financial

$16.53

(0.00%)

16:12
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South Plains Financial Chief Credit Officer Kevin Bass resigns »

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  • 13

    Nov

MLHR

Herman Miller

$44.54

0.04 (0.09%)

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  • 19

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MLHR

Herman Miller

$44.50

(0.00%)

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  • 19

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ETSY

Etsy

$59.47

-0.45 (-0.75%)

16:10
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Syndicate
Breaking Syndicate news story on Etsy »

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  • 23

    Sep

  • 24

    Sep

MLHR

Herman Miller

$44.50

(0.00%)

16:09
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Hot Stocks
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  • 19

    Sep

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  • 22

    Oct

MSFT

Microsoft

$138.48

1.08 (0.79%)

16:08
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09/18
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16:08
Hot Stocks
Microsoft announces new $40B share repurchase program, 11% dividend hike »

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  • 27

    Oct

AVNW

Aviat Networks

$14.20

0.1 (0.71%)

16:08
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Hot Stocks
Aviat Networks CEO Michael Pangia resigns, interim CEO Stan Gallagher appointed »

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