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ELY

Callaway Golf

$18.91

0.24 (1.29%)

08:53
10/09/19
10/09
08:53
10/09/19
08:53

Topgolf IPO would be positive for Callaway Golf, says B. Riley FBR

B. Riley FBR analyst Susan Anderson believes an initial public offering of Topgolf could be positive for Callaway Golf given its 14% stake. Callaway's stake is now worth "significantly more" than the ~$3 per share cited back in 2017 when the company valued its stake at $290M, Anderson tells investors in a research note. Given Topgolf's growth, the analyst believes its valuation has increased to at least ~$3.3B, which would contribute $6 per share to Callaway. She reiterates a Buy rating on Callaway Golf with a $30 price target.

  • 24

    Oct

ELY Callaway Golf
$18.91

0.24 (1.29%)

08/28/19
SPHN
08/28/19
NO CHANGE
Target $21.5
SPHN
Overweight
Callaway change in TopGolf language could be noteworthy, says Stephens
Callaway Golf last night filed a slide deck ahead of this week's investor roadshow, and the change in language around TopGolf was noteworthy, Stephens analyst Daniel Imbro tells investors in a research note. Previously, management's commentary suggested that TopGolf was complementary to the long-term business and additional investment could be a use of strengthening free cash flow, says the analyst. However, commentary in the current slides removed that wording and suggests that Callaway could create value through a monetization effort, contends Imbro. He believes the one-shift "could indicate a potentially expedited timeline." The analyst's sum-oft-he-parts valuation "conservatively" assumes that Callaway's ~14% ownership in TopGolf is worth $3 per share, based on the $290M valuation in the December 2017 funding round. He reiterates an Overweight rating on Callaway Golf shares with a $21.50 price target.
09/11/19
RAJA
09/11/19
UPGRADE
Target $21
RAJA
Outperform
Callaway Golf upgraded to Outperform from Market Perform at Raymond James
Raymond James analyst Joseph Altobello upgraded Callaway Golf to Outperform from Market Perform with a $21 price target.
09/11/19
RAJA
09/11/19
UPGRADE
Target $21
RAJA
Outperform
Callaway Golf stock not fully reflecting TopGolf stake, says Raymond James
Raymond James analyst Joseph Altobello upgraded Callaway Golf to Outperform from Market Perform with a $21 price target to reflect the firm's sum-of-the-parts base case valuation on Callaway's golf club, ball, apparel and gear business, the Jack Wolfskin business and Callaway's TopGolf investment. In a research note to investors, Altobello says he believes the stock is not fully reflecting the company's 14% stake in TopGolf, which it appears to be increasingly open to monetizing and is being overly penalized for the recent acquisition of Jack Wolfskin, which is obscuring the health of the balance of its portfolio.
09/11/19
09/11/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Buy from Neutral at Longbow with analyst Nikolay Todorov saying his channel checks indicate upside in shipments and improving DRAM and NAND pricing fundamentals. 2. Alliance Data (ADS) upgraded to Buy from Neutral at Goldman Sachs with analyst Ryan Nash saying after peaking at $310 in 2015, shares of Alliance Data are off 57% as the company has "battled a long list of issues," including credit normalization, lower recoveries and retailer struggles leading to slower growth. 3. Alcoa (AA) upgraded to Outperform from Neutral at Credit Suisse with analyst Curt Woodworth saying he expects alumina prices to recover on "significant" capacity cuts in China, an end to inventory destocking, and the Alpart shutdown. 4. Callaway Golf (ELY) upgraded to Outperform from Market Perform at Raymond James with analyst Joseph Altobello citing the firm's sum-of-the-parts base case valuation on Callaway's golf club, ball, apparel and gear business, the Jack Wolfskin business and Callaway's TopGolf investment. 5. Oshkosh (OSK) and Agco (AGCO) upgraded to Overweight from Neutral at JPMorgan. 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

FLXN

Flexion

$13.37

0.125 (0.94%)

08:47
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ACB

Aurora Cannabis

$3.68

-0.045 (-1.21%)

, USAT

USA Technologies

$0.00

(0.00%)

08:45
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Options
Largest borrow rate increases among liquid names »

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ACB

Aurora Cannabis

$3.68

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USAT

USA Technologies

$0.00

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BYND

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$131.40

-4.6 (-3.38%)

CGC

Canopy Growth

$19.42

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CHK

Chesapeake

$1.38

0.09 (6.98%)

PZZA

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$53.16

0.32 (0.61%)

NVAX

Novavax

$4.57

0.11 (2.47%)

DXJ

WisdomTree Japan Hedged Equity Fund

$51.12

1.1 (2.20%)

PTON

Peloton

$22.40

-0.755 (-3.26%)

UBER

Uber

$30.09

1.19 (4.12%)

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    Nov

NFLX

Netflix

$282.89

2.47 (0.88%)

08:42
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Netflix analyst commentary  »

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  • 16

    Oct

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AKTX

Akari Therapeutics

$1.81

-0.03 (-1.63%)

08:42
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Hot Stocks
Akari Therapeutics announces new data from ongoing Phase I/II AKC trial »

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PE

Parsley Energy

$16.98

0.52 (3.16%)

, JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

08:41
10/14/19
10/14
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08:41
Hot Stocks
Parsley Energy sees Jagged Peak Energy deal immediately accretive on key metrics »

Key Transaction…

PE

Parsley Energy

$16.98

0.52 (3.16%)

JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

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  • 06

    Nov

NVST

Envista

$27.87

-1.2 (-4.13%)

08:40
10/14/19
10/14
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08:40
Initiation
Envista initiated  »

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NVST

Envista

$27.87

-1.2 (-4.13%)

, DHR

Danaher

$138.78

0.1 (0.07%)

08:38
10/14/19
10/14
08:38
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08:38
Initiation
Envista, Danaher initiated  »

Envista initiated with an…

NVST

Envista

$27.87

-1.2 (-4.13%)

DHR

Danaher

$138.78

0.1 (0.07%)

03/08/13
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  • 24

    Oct

  • 07

    Nov

KALV

KalVista

$11.00

0.27 (2.52%)

, RGNX

Regenxbio

$39.53

0.65 (1.67%)

08:37
10/14/19
10/14
08:37
10/14/19
08:37
Recommendations
KalVista, Regenxbio, Kala Pharmaceuticals, Kodiak Sciences, Regeneron, Aerie Pharmaceuticals, Applied Genetic, Aldeyra, Adverum Biotechnologies, Clearside Biomedical, Ocugen analyst commentary  »

Ophthalmic therapies…

KALV

KalVista

$11.00

0.27 (2.52%)

RGNX

Regenxbio

$39.53

0.65 (1.67%)

KALA

Kala Pharmaceuticals

$3.45

-0.15 (-4.17%)

KOD

Kodiak Sciences

$18.24

1.34 (7.93%)

REGN

Regeneron

$301.02

2.56 (0.86%)

AERI

Aerie Pharmaceuticals

$20.15

2.45 (13.84%)

AGTC

Applied Genetic

$3.10

-0.08 (-2.52%)

ALDX

Aldeyra

$5.16

-0.09 (-1.71%)

ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

CLSD

Clearside Biomedical

$0.76

0.0326 (4.47%)

OCGN

Ocugen

$1.51

-0.07 (-4.43%)

03/08/13
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  • 17

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  • 24

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  • 05

    Nov

  • 06

    Nov

PE

Parsley Energy

$16.98

0.52 (3.16%)

, JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

08:37
10/14/19
10/14
08:37
10/14/19
08:37
Hot Stocks
Parsley Energy, Jagged Peak Energy boards 'unanimously' approve merger »

The boards of directors…

PE

Parsley Energy

$16.98

0.52 (3.16%)

JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

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  • 06

    Nov

HPE

HP Enterprise

$14.35

0.24 (1.70%)

08:36
10/14/19
10/14
08:36
10/14/19
08:36
Upgrade
HP Enterprise rating change  »

HP Enterprise upgraded to…

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  • 14

    Oct

  • 23

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GNUS

Genius Brands

$0.77

0.0025 (0.33%)

, BABA

Alibaba

$172.97

6.925 (4.17%)

08:35
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Genius Brands, Alibaba partner to co-produce animated children's series »

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GNUS

Genius Brands

$0.77

0.0025 (0.33%)

BABA

Alibaba

$172.97

6.925 (4.17%)

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  • 14

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PE

Parsley Energy

$16.98

0.52 (3.16%)

, JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

08:35
10/14/19
10/14
08:35
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08:35
Hot Stocks
Parsley Energy sees FY20 CapEx $1.6B-$1.9B »

Parsley (PE) remains…

PE

Parsley Energy

$16.98

0.52 (3.16%)

JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

03/08/13
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  • 06

    Nov

CUB

Cubic

$68.86

0.58 (0.85%)

, SAIC

SAIC

$84.56

1.05 (1.26%)

08:35
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08:35
Hot Stocks
Cubic appoints Hilary Hageman as general counsel »

Cubic (CUB) announced the…

CUB

Cubic

$68.86

0.58 (0.85%)

SAIC

SAIC

$84.56

1.05 (1.26%)

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  • 06

    Nov

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BLPH

Bellerophon

$0.45

-0.0104 (-2.26%)

08:33
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Hot Stocks
Bellerophon to present new data from Cohort 1 of Phase 2/3 study of INOpulse »

lpBellerophon…

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PE

Parsley Energy

$16.98

0.52 (3.16%)

08:33
10/14/19
10/14
08:33
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08:33
Hot Stocks
Parsley Energy sees Q3 net oil production 91.2-91.7 MBo per day »

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  • 06

    Nov

AXAS

Abraxas Petroleum

$0.37

0.0069 (1.89%)

08:33
10/14/19
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08:33
Earnings
Abraxas Petroleum broadens engagement with Petrie Partners »

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  • 11

    Nov

PE

Parsley Energy

$16.98

0.52 (3.16%)

08:32
10/14/19
10/14
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08:32
Hot Stocks
Parsley Energy to acquire Jagged Peak Energy in $2.27B all-stock transaction »

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  • 06

    Nov

RARE

Ultragenyx

$42.77

1.08 (2.59%)

08:31
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Ultragenyx announces FDA acceptance of NDA for UX007 »

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ASML

ASML

$260.46

8.86 (3.52%)

08:31
10/14/19
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Recommendations
ASML analyst commentary  »

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  • 16

    Oct

  • 19

    Nov

PE

Parsley Energy

$16.98

0.52 (3.16%)

, JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

08:30
10/14/19
10/14
08:30
10/14/19
08:30
Hot Stocks
Breaking Hot Stocks news story on Parsley Energy, Jagged Peak Energy »

Parsley Energy acquires…

PE

Parsley Energy

$16.98

0.52 (3.16%)

JAG

Jagged Peak Energy

$6.81

0.16 (2.41%)

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  • 06

    Nov

DRYS

DryShips

$5.25

(0.00%)

, NCI

Navigant Consulting

$28.00

(0.00%)

08:30
10/14/19
10/14
08:30
10/14/19
08:30
Options
Four option delistings on October 14th »

Option delistings…

DRYS

DryShips

$5.25

(0.00%)

NCI

Navigant Consulting

$28.00

(0.00%)

TYPE

Monotype Imaging

$19.85

(0.00%)

03/08/13
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OHI

Omega Healthcare

$42.40

0.15 (0.36%)

08:29
10/14/19
10/14
08:29
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08:29
Initiation
Omega Healthcare initiated  »

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  • 12

    Nov

NFLX

Netflix

$282.89

2.47 (0.88%)

08:25
10/14/19
10/14
08:25
10/14/19
08:25
Recommendations
Netflix analyst commentary  »

Morgan Stanley stays…

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  • 16

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$DJT

DJ Transportation Average

$0.00

(0.00%)

08:24
10/14/19
10/14
08:24
10/14/19
08:24
Technical Analysis
DJ Transportation Average: Pivot points »

The following are the…

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$DJU

DJ Utility Average

$0.00

(0.00%)

08:24
10/14/19
10/14
08:24
10/14/19
08:24
Technical Analysis
DJ Utility Average: Pivot points »

The following are the…

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