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FDX

FedEx

$149.76

-23.77 (-13.70%)

13:25
09/18/19
09/18
13:25
09/18/19
13:25

FedEx downgraded to Hold from Buy at Edward Jones

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FDX FedEx
$149.76

-23.77 (-13.70%)

09/18/19
MSCO
09/18/19
NO CHANGE
Target $120
MSCO
Equal Weight
Hard to see rebound for FedEx despite earnings at trough, says Morgan Stanley
Morgan Stanley analyst Ravi Shanker previously believed it was too early to call a bottom for FedEx's (FDX) earnings, but he now thinks that its roughly 20% cut to its fiscal year guidance is big enough to finally call a potential bottom to earnings at the low end of the current outlook's range. However, there are still enough structural headwinds to keep earnings under pressure for a while and it is hard for him to see a path to a rebound, stating that "trough earnings alone is not a reason to buy the stock." Shanker, who is challenged to see a path to sustained growth in FY21+ for FedEx, keeps an Equal Weight rating on the stock and lowered his price target to $120 from $131. He also believes the read-across to UPS is negative given that the same cyclical pressures are at least partly applicable and he thinks the structural issues are more serious for UPS, on which Shanker keeps an Underweight rating.
09/18/19
SPHN
09/18/19
NO CHANGE
Target $192
SPHN
Overweight
Stephens stays Overweight on FedEx, but lacks total confidence 'final cut' made
Stephens analyst Jack Atkins said FedEx lacks a catalyst until there is a resolution to the current trade dispute, but he maintains an Overweight rating on stock given what he views as its "heavily discounted" valuation. However, after the company revised its outlook materially lower three months after issuing its initial FY20 guidance, Atkins cut his price target on FedEx shares to $192 from $210 and said he does "not have complete confidence that this is the 'final cut' given the limited macro visibility."
09/18/19
RHCO
09/18/19
NO CHANGE
Target $105
RHCO
Buy
Saia, ArcBest should be bought on any FedEx-related selloff, says SunTrust
SunTrust analyst Stephanie Benjamin expects FedEx's (FDX) earnings miss and lowered guidance last night to negatively pressure the Trucking and Logistics group today. However, the positive pricing and margin results for FedEx's less-than-truckload business should not be overlooked, Benjamin tells investors in a research note. She attributes the majority of the earnings miss to weakness internationally, particularly in Europe, which impacted FedEx's Ground and Express businesses. Benjamin recommends using any selloff today in shares of Saia (SAIA) and ArcBest (ARCB) as buying opportunities. Both companies are entirely U.S. based and benefiting from a "highly rational" less-than-truckload pricing environment. She reiterates a Buy rating and $35 price target on ArcBest and boosted her price target for Saia to $105 from $95. Benjamin believes both companies can see revenue upside and greater than expected margin expansion in 2020.
09/18/19
09/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Hold from Buy at Deutsche Bank and Stifel, to Sector Weight from Overweight at KeyBanc, and to Market Perform from Outperform at BMO Capital. 2. Travelers (TRV) downgraded to Neutral from Buy at BofA/Merrill with analyst Jay Cohen citing valuation. 3. TerraForm Power (TERP) downgraded to Neutral from Overweight at JPMorgan with analyst Mark Strouse citing valuation. 4. Blackstone (BX) downgraded to Neutral from Buy at Citi with analyst William Katz citing valuation. 5. Masco (MAS) downgraded to Neutral from Buy at Buckingham with analyst Megan McGrath saying that given Masco's muted three-year pro forma outlook provided at its investor day on Tuesday, she believes that much further upside to the shares would require a belief that 2021 guidance is meaningfully conservative. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PLUG

Plug Power

$3.42

0.03 (0.88%)

10:01
11/20/19
11/20
10:01
11/20/19
10:01
Conference/Events
Plug Power management to meet with Oppenheimer »

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  • 21

    Nov

PLT

Poly

$25.23

-0.54 (-2.10%)

10:00
11/20/19
11/20
10:00
11/20/19
10:00
Hot Stocks
Poly expects to maintain annual dividend of 60c per share »

Poly in investor day…

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LOW

Lowe's

$120.46

7.05 (6.22%)

10:00
11/20/19
11/20
10:00
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10:00
Hot Stocks
Lowe's says expects FY19 adjusted operating margin up 40-60 basis points »

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PJC

Piper Jaffray

$78.87

(0.00%)

09:59
11/20/19
11/20
09:59
11/20/19
09:59
Conference/Events
Piper Jaffray management to meet with JMP Securities »

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PLT

Poly

$25.15

-0.62 (-2.41%)

09:58
11/20/19
11/20
09:58
11/20/19
09:58
Earnings
Poly sees fiscal 2021 adjusted EBITDA improved from fiscal 2020 »

Poly in investor day…

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    Nov

MTZ

MasTec

$68.50

-2.51 (-3.53%)

09:57
11/20/19
11/20
09:57
11/20/19
09:57
Syndicate
MasTec 2.8M share Block Trade priced at $69.00 »

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  • 20

    Nov

MOBL

MobileIron

$4.79

0.03 (0.63%)

09:57
11/20/19
11/20
09:57
11/20/19
09:57
Conference/Events
MobileIron management to meet with Craig-Hallum »

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  • 21

    Nov

PLT

Poly

$25.24

-0.53 (-2.06%)

09:56
11/20/19
11/20
09:56
11/20/19
09:56
Earnings
Poly affirms Q3, fiscal 2020 guidance at investor day »

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  • 20

    Nov

LTHM

Livent

$7.47

-0.15 (-1.97%)

09:55
11/20/19
11/20
09:55
11/20/19
09:55
Conference/Events
Livent management to meet with Loop Capital »

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    Dec

TGT

Target

$120.00

9.14 (8.24%)

, LOW

Lowe's

$120.40

6.99 (6.16%)

09:55
11/20/19
11/20
09:55
11/20/19
09:55
Options
Early notable gainers among liquid option names on November 20th »

Notable gainers among…

TGT

Target

$120.00

9.14 (8.24%)

LOW

Lowe's

$120.40

6.99 (6.16%)

HOLX

Hologic

$48.53

1.36 (2.88%)

HSY

Hershey

$149.40

1.78 (1.21%)

DG

Dollar General

$160.16

1.69 (1.07%)

03/08/13
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03/06/13
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03/06/13
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  • 09

    Dec

SFTBF

SoftBank

$0.00

(0.00%)

, SFTBY

SoftBank

$0.00

(0.00%)

09:53
11/20/19
11/20
09:53
11/20/19
09:53
Periodicals
SoftBank in talks for financing to fund WeWork turnaround, Nikkei reports »

SoftBank (SFTBF) is in…

SFTBF

SoftBank

$0.00

(0.00%)

SFTBY

SoftBank

$0.00

(0.00%)

WE

We Company

$0.00

(0.00%)

MTU

Mitsubishi UFJ

$0.00

(0.00%)

SMFG

Sumitomo Mitsui

$7.26

-0.06 (-0.82%)

MFG

Mizuho Financial Group

$3.13

-0.01 (-0.32%)

03/08/13
Wedge Partners
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03/06/13
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  • 07

    Jan

LRCX

Lam Research

$276.52

-0.12 (-0.04%)

09:53
11/20/19
11/20
09:53
11/20/19
09:53
Conference/Events
Lam Research management to meet with KeyBanc »

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EXPGY

Experian

$0.00

(0.00%)

09:52
11/20/19
11/20
09:52
11/20/19
09:52
Conference/Events
Experian management to meet with Stephens »

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  • 20

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ETFC

E-Trade

$44.84

-0.16 (-0.36%)

09:50
11/20/19
11/20
09:50
11/20/19
09:50
Periodicals
E-Trade pressure to pursue M&A lessened as shares recover, Dealreporter says »

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ETFC

E-Trade

$44.84

-0.16 (-0.36%)

09:50
11/20/19
11/20
09:50
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09:50
Conference/Events
E-Trade management to meet with Jefferies »

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  • 21

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ADI

Analog Devices

$109.85

-1.86 (-1.67%)

09:50
11/20/19
11/20
09:50
11/20/19
09:50
Options
Pre-earnings put buyer in Analog Devices »

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LAIX

Laix

$3.27

(0.00%)

09:47
11/20/19
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09:47
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09:47
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Laix falls -6.4% »

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PAGS

PagSeguro Digital

$34.37

-2.44 (-6.63%)

09:47
11/20/19
11/20
09:47
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09:47
Hot Stocks
PagSeguro Digital falls -7.0% »

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  • 17

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FIHD

UBS AG FI Enhanced Global High Yield ETN

$196.47

(0.00%)

09:47
11/20/19
11/20
09:47
11/20/19
09:47
Hot Stocks
UBS AG FI Enhanced Global High Yield ETN falls -8.5% »

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DL

China Distance Education

$8.00

0.85 (11.89%)

09:47
11/20/19
11/20
09:47
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09:47
Hot Stocks
China Distance Education rises 10.8% »

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  • 20

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I

Intelsat

$7.10

1.02 (16.78%)

09:47
11/20/19
11/20
09:47
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09:47
Hot Stocks
Intelsat rises 15.9% »

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  • 10

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CRC

California Resources

$7.20

1 (16.13%)

09:47
11/20/19
11/20
09:47
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09:47
Hot Stocks
California Resources rises 17.7% »

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09:45
11/20/19
11/20
09:45
11/20/19
09:45
Conference/Events
House Science, Space & Technology Committee to hold a hearing »

The Committee holds a…

HOLX

Hologic

$48.26

1.09 (2.31%)

09:45
11/20/19
11/20
09:45
11/20/19
09:45
Recommendations
Hologic analyst commentary  »

Hologic sale of Cynosure…

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TRIP

TripAdvisor

$28.35

(0.00%)

09:41
11/20/19
11/20
09:41
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09:41
Conference/Events
TripAdvisor to host investor meeting »

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