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LYFT

Lyft

$46.45

-0.84 (-1.78%)

, UBER

Uber

$32.52

-1.31 (-3.87%)

09:03
09/23/19
09/23
09:03
09/23/19
09:03

Lyft should be bought on California regulatory uncertainty, says Deutsche Bank

Deutsche Bank analyst Lloyd Walmsley recommends taking advantage of the uncertainty around regulation to add to positions of Lyft (LYFT) as he thinks concerns around California Assembly Bill 5 are overblown. Even with modest price hikes, Uber (UBER) and Lyft pricing in California remains well below taxi prices, which will limit the impact to demand, Walmsley tells investors in a research note. He thinks a "middle ground" remains the most likely path in California and that any progress towards a settlement can allow fundamentals to drive Uber and Lyft shares. With improving competitive dynamics, increasing prices, more efficient match rates and operating leverage, rideshare fundamentals remain a "serious tailwind" in the U.S., especially benefiting Lyft, says the analyst.

LYFT

Lyft

$46.45

-0.84 (-1.78%)

UBER

Uber

$32.52

-1.31 (-3.87%)

  • 23

    Sep

LYFT Lyft
$46.45

-0.84 (-1.78%)

09/16/19
HSBC
09/16/19
UPGRADE
HSBC
Buy
Lyft upgraded to Buy from Hold at HSBC
09/16/19
HSBC
09/16/19
UPGRADE
Target $62
HSBC
Buy
HSBC upgrades Lyft and Uber to Buy despite cutting price targets
HSBC analyst Masha Kahn upgraded Lyft to Buy from Hold with a price target of $62, down from $67. Investor sentiment has turned "more sour" on ride-hailing stocks following large reported losses, regulatory headlines out of California and concerns around slowing growth, Kahn tells investors in a research note. However, with Lyft and Uber shares down 23% in the last three months, regulatory concerns are priced in, says the analyst, Further, Kahn continues to see "a lot of optionality" around product improvements for both Uber and Lyft. In addition, with 60% gross margins in the U.S. and over 70% internationally, the ride-hailing businesses of companies can reach profitability if both pull back on sales and marketing and leverage the fixed cost base, says the analyst.
09/16/19
HSBC
09/16/19
UPGRADE
Target $44
HSBC
Buy
HSBC upgrades Uber and Lyft to Buy amid 'more sour' investor sentiment
HSBC analyst Masha Kahn upgraded Uber Technologies (UBER) to Buy from Hold with a price target of $44, down from $49. The analyst this morning also upgraded Lyft (LYFT) to Buy from Hold. Investor sentiment has turned "more sour" on ride-hailing stocks following large reported losses, regulatory headlines out of California and concerns around slowing growth, Kahn tells investors in a research note. However, with Lyft and Uber shares down 23% in the last three months, regulatory concerns are priced in, says the analyst, Further, Kahn continues to see "a lot of optionality" around product improvements for both Uber and Lyft. In addition, with 60% gross margins in the U.S. and over 70% internationally, the ride-hailing businesses of companies can reach profitability if both pull back on sales and marketing and leverage the fixed cost base, says the analyst. Kahn also believes food delivery is a "free" option for Uber investors.
09/16/19
09/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Raytheon (RTN) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying the stock's outperformance thus far in September is a sign of increasing investor confidence in the outlook for Raytheon and for the United Technologies (UTX) combination, along with some mean reversion. 2. Uber (UBER) and Lyft (LYFT) upgraded to Buy from Hold at HSBC. 3. Schlumberger (SLB) upgraded to Overweight from Equal Weight at Barclays with analyst J. David Anderson saying new CEO Olivier Le Peuch "hit all the right notes" as he repositions the company to succeed in a lower growth environment. 4. RE/MAX Holdings (RMAX) upgraded to Outperform from Market Perform at JMP Securities. 5. Esperion (ESPR) upgraded to Neutral from Sell at Goldman Sachs with analyst Paul Choi saying he now sees less risk of the launch performance of bempedoic acid disappointing over the intermediate term since 2019-2022 consensus revenue estimates have come down "meaningfully." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
UBER Uber
$32.52

-1.31 (-3.87%)

09/18/19
EVER
09/18/19
NO CHANGE
EVER
Outperform
Uber London operating license renewal should go ahead as planned, says Evercore ISI
Commenting on Uber's London operating license that is expiring later this month, Evercore ISI analyst Benjamin Black says this year's renewal should go ahead as planned given the company's revamped senior management team, improved corporate governance, upgraded safety features, stringent driver background checks, and growing willingness to not only cooperate, but also collaborate with TfL authorities. The only question for the analyst is the duration of the license. Even in the unlikely event of an unfavorable ruling, Black would expect Uber to challenge the decision in court. He has an Outperform rating on the shares.
09/20/19
DADA
09/20/19
NO CHANGE
Target $100
DADA
DA Davidson defends GrubHub after yesterday's sell-off
DA Davidson analyst Tom Forte keeps his Buy rating and $100 price target on GrubHub (GRUB), saying investors should take advantage of yesterday's 5% decline in the stock price on reports of a short position by Kynikos Associates' Jim Chanos. The analyst notes that the company still "does a great job" with less expensive offerings, even though his experience with Uber Eats (UBER) suggests that its service is "superior". Forte further points to GrubHub's upcoming catalysts, which include improving profitability for the remainder of FY19, efforts to advance its "first-party restaurant delivery initiative", and the greater than expected contribution from its recent acquisitions.

TODAY'S FREE FLY STORIES

PGR

Progressive

$70.81

-0.64 (-0.90%)

12:05
10/18/19
10/18
12:05
10/18/19
12:05
Options
Progressive call volume above normal and directionally bullish »

Bullish option flow…

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WORK

Slack Technologies

$21.53

-2.47 (-10.29%)

12:00
10/18/19
10/18
12:00
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12:00
Hot Stocks
Slack Technologies falls -10.3% »

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NNA

Navios Acquisition

$8.20

-2.16 (-20.85%)

12:00
10/18/19
10/18
12:00
10/18/19
12:00
Hot Stocks
Navios Acquisition falls -21.5% »

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GIL

Gildan Activewear

$27.00

-8.375 (-23.67%)

12:00
10/18/19
10/18
12:00
10/18/19
12:00
Hot Stocks
Gildan Activewear falls -23.7% »

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  • 31

    Oct

KSU

Kansas City Southern

$143.98

8.65 (6.39%)

12:00
10/18/19
10/18
12:00
10/18/19
12:00
Hot Stocks
Kansas City Southern rises 6.3% »

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  • 18

    Oct

  • 13

    Nov

BORR

Borr Drilling

$6.57

0.53 (8.77%)

12:00
10/18/19
10/18
12:00
10/18/19
12:00
Hot Stocks
Borr Drilling rises 7.5% »

Borr Drilling is up 7.5%,…

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HEP

Holly Energy Partners

$22.99

1.72 (8.09%)

12:00
10/18/19
10/18
12:00
10/18/19
12:00
Hot Stocks
Holly Energy Partners rises 8.1% »

Holly Energy Partners is…

03/08/13
Wedge Partners
03/08/13
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  • 30

    Oct

ORCL

Oracle

$54.72

-0.35 (-0.64%)

11:55
10/18/19
10/18
11:55
10/18/19
11:55
Periodicals
Oracle co-CEO Mark Hurd has died, Reuters reports »

Reuters cites a company…

03/08/13
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DHT

DHT Holdings

$7.19

-0.215 (-2.90%)

11:55
10/18/19
10/18
11:55
10/18/19
11:55
Options
DHT Holdings put volume heavy and directionally bearish »

Bearish flow noted in DHT…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 24

    Oct

CRM

Salesforce

$143.99

-2.18 (-1.49%)

11:55
10/18/19
10/18
11:55
10/18/19
11:55
Conference/Events
Economic Club of Washington, D.C. to hold luncheon meeting »

The Economic Club of…

03/08/13
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03/06/13
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03/06/13
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  • 18

    Oct

  • 16

    Dec

KO

Coca-Cola

$55.27

1.47 (2.73%)

, AXP

American Express

$118.49

-0.68 (-0.57%)

11:53
10/18/19
10/18
11:53
10/18/19
11:53
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks have pulled back a…

KO

Coca-Cola

$55.27

1.47 (2.73%)

AXP

American Express

$118.49

-0.68 (-0.57%)

JNJ

Johnson & Johnson

$130.24

-5.96 (-4.38%)

M

Macy's

$15.04

-0.73 (-4.63%)

LB

L Brands

$16.71

-1.39 (-7.68%)

GPS

Gap

$16.65

-0.93 (-5.29%)

DERM

Dermira

$7.41

1.73 (30.46%)

ETFC

E-Trade

$41.22

2.18 (5.58%)

GIL

Gildan Activewear

$27.05

-8.325 (-23.53%)

TEAM

Atlassian

$111.50

-10.93 (-8.93%)

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

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  • 18

    Oct

  • 18

    Oct

  • 27

    Oct

  • 31

    Oct

  • 13

    Nov

  • 19

    Nov

  • 19

    Nov

  • 21

    Nov

  • 21

    Nov

  • 21

    Nov

  • 06

    Dec

  • 07

    Dec

11:50
10/18/19
10/18
11:50
10/18/19
11:50
General news
Fed VC Clarida reiterated the economy is in a "good place »

Fed VC Clarida reiterated…

SKX

Skechers

$37.12

-0.02 (-0.05%)

11:45
10/18/19
10/18
11:45
10/18/19
11:45
Options
Skechers call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 22

    Oct

ATVI

Activision Blizzard

$53.92

-1.68 (-3.02%)

, NTDOY

Nintendo

$0.00

(0.00%)

11:41
10/18/19
10/18
11:41
10/18/19
11:41
Periodicals
Blizzard delays 'WoW' event in Taiwan amid Hong Kong protests, Polygon says »

Blizzard Entertainment, a…

ATVI

Activision Blizzard

$53.92

-1.68 (-3.02%)

NTDOY

Nintendo

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 18

    Oct

  • 07

    Nov

KALV

KalVista

$12.16

0.08 (0.66%)

11:36
10/18/19
10/18
11:36
10/18/19
11:36
Conference/Events
KalVista management to meet with Needham »

Meeting to be held in…

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  • 24

    Oct

W

Wayfair

$110.22

-4.41 (-3.85%)

11:35
10/18/19
10/18
11:35
10/18/19
11:35
Options
Wayfair put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 31

    Oct

11:35
10/18/19
10/18
11:35
10/18/19
11:35
General news
Treasury Action: supply is heavy next week »

Treasury Action: supply…

TSLA

Tesla

$259.40

-2.565 (-0.98%)

11:32
10/18/19
10/18
11:32
10/18/19
11:32
Periodicals
Tesla moves Model 3 deliveries in U.S. amid demand hike elsewhere, Electrek says »

Tesla is moving the…

03/08/13
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  • 23

    Oct

ATHM

Autohome

$84.07

-1.01 (-1.19%)

11:29
10/18/19
10/18
11:29
10/18/19
11:29
Downgrade
Autohome rating change  »

Autohome downgraded to…

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AMSSY

AMS AG

$0.00

(0.00%)

, OSAGY

Osram

$0.00

(0.00%)

11:26
10/18/19
10/18
11:26
10/18/19
11:26
Hot Stocks
AMS AG to launch new EUR41 per share takeover offer for Osram »

ams AG (AMSSY) announces…

AMSSY

AMS AG

$0.00

(0.00%)

OSAGY

Osram

$0.00

(0.00%)

03/08/13
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03/08/13
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03/06/13
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  • 22

    Oct

ENPH

Enphase Energy

$25.16

0.07 (0.28%)

11:25
10/18/19
10/18
11:25
10/18/19
11:25
Options
Enphase Energy call volume above normal and directionally bullish »

Bullish option flow…

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  • 29

    Oct

11:25
10/18/19
10/18
11:25
10/18/19
11:25
Conference/Events
Federal Reserve Board of Governors Vice Chairman Clarida speaks on the economy »

Federal Reserve Board of…

OSAGY

Osram

$0.00

(0.00%)

11:22
10/18/19
10/18
11:22
10/18/19
11:22
Hot Stocks
Osram says Advent, Bain Capital do not plan takeover offer for time being »

Osram Licht AG announced…

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11:20
10/18/19
10/18
11:20
10/18/19
11:20
General news
FX Action: USD-JPY »

FX Action: USD-JPY…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
10/18/19
10/18
11:17
10/18/19
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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