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PTON

Peloton

$23.60

0.425 (1.83%)

, BOOT

Boot Barn

$34.00

1.17 (3.56%)

10:14
10/09/19
10/09
10:14
10/09/19
10:14

Fly Intel: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Peloton (PTON) initiated with an Outperform rating at Baird. 2. Boot Barn (BOOT) initiated with an Overweight rating at Stephens. 3. Wingstop (WING) initiated with a Buy rating at Loop Capital. 4. LexinFintech (LX) initiated with an Outperform at Credit Suisse. 5. New York Times (NYT) initiated with a Neutral at Guggenheim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

PTON

Peloton

$23.60

0.425 (1.83%)

BOOT

Boot Barn

$34.00

1.17 (3.56%)

WING

Wingstop

$88.62

0.53 (0.60%)

LX

LexinFintech

$8.90

0.305 (3.55%)

NYT

New York Times

$28.16

-0.265 (-0.93%)

  • 30

    Oct

PTON Peloton
$23.60

0.425 (1.83%)

09/12/19
09/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Peloton (PTON) initiated with a Neutral at DA Davidson. 2. Uber (UBER) initiated with a Hold due to valuation at Argus. 3. Carvana (CVNA) initiated with a Buy at Needham while CarGurus (CARG) and TrueCar (TRUE) initiated with a Hold. 4. Coupa Software (COUP) and Fiserv (FISV) initiated with a Buy at Canaccord. 5. Arvinas (ARVN) initiated with an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/19
DADA
09/11/19
INITIATION
Target $29
DADA
Neutral
DA Davidson starts Peloton with Neutral rating ahead of IPO
DA Davidson analyst Michael M.Y. Kawamoto initiated Peloton with a Neutral rating and $29 price target ahead of the Digital fitness company's initial public offering, stating that Peloton has "impressive" topline growth, but market saturation and its ability to scale remain questions. Recent investments, along with "very robust marketing spend," will keep profitability "muted" for at least the next few years, added the analyst.
10/08/19
BARD
10/08/19
INITIATION
Target $28
BARD
Outperform
Peloton initiated with an Outperform rating at Baird
Baird initiated coverage of Peloton with an Outperform rating and $28 price target.
09/30/19
DADA
09/30/19
NO CHANGE
Target $29
DADA
Neutral
Growth, profit will be needed for Peloton to reach 70% margin, says DA Davidson
DA Davidson analyst Michael Kawamoto is keeping his Neutral rating and $29 price target on Peloton after the "rough first day" of trading for the stock following its IPO. The analyst notes that he remains impressed by the company's "robust" growth metrics, but contends that investors are skeptical over the company's potentially much higher "churn" figures in Peloton Digital, since this these exercise users do not have a large fixed cost anchoring them to the platform. Kawamoto adds that Peloton will require further growth, scale, and "ultimately profitability" to achieve the Subscriber gross margin target of over 70% forecasted by CEO John Foley.
BOOT Boot Barn
$34.00

1.17 (3.56%)

10/08/19
SPHN
10/08/19
INITIATION
Target $46
SPHN
Overweight
Boot Barn initiated with an Overweight rating at Stephens
Stephens analyst Rick Nelson initiated coverage of Boot Barn with an Overweight rating and $46 price target.
10/04/19
CHLM
10/04/19
INITIATION
Target $46
CHLM
Buy
Boot Barn initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Jeremy Hamblin initiated Boot Barn with a Buy rating and $46 price target, saying it is the "800 lb. gorilla" of the western and work-related apparel category. In a research note to investors, Hamblin says that with an already sizable lead in the category that he thinks can extend further, he believes the stock can drive outsized investor returns over the next decade for several reasons, including a "remarkable" record on sales results driven by strong fundamentals. The analyst says the western and work-wear categories have an estimated $20B TAM and the increasing popularity of country music along with population flows to the South and West have served as powerful tailwinds.
10/08/19
SPHN
10/08/19
INITIATION
Target $46
SPHN
Overweight
Stephens starts Boot Barn at Overweight, sees 'significant growth'
Stephens analyst Rick Nelson initiated coverage of Boot Barn with an Overweight rating and $46 price target. The company is the "dominant retailer" of western and work-related footwear, apparel and accessories, and has of only 3.8% share of a $20B total addressable market, Nelson tells investors in a research note. The analyst sees potential for Boot Barn to more than double its store base to 500-plus locations over time. He expects the store count to grow by 10% annually while generating same-store-sales in the mid-single digits. Boot Barn is poised for "significant growth," says Nelson.
09/13/19
PIPR
09/13/19
NO CHANGE
Target $46
PIPR
Overweight
Piper 'even more enthused' for Boot Barn shares after management visit
Piper Jaffray analyst Peter Keith left a visit with Boot Barn management "even more enthused for shares." The company remains the most underappreciated growth story in the space with steady comp growth, unit growth, and margin growth leading to 20%-plus earnings growth, Keith tells investors in a research note. The analyst expects Boot Barn will continue to post strong growth numbers and he keeps an Overweight rating on the shares with a $46 price target.
WING Wingstop
$88.62

0.53 (0.60%)

09/27/19
COWN
09/27/19
NO CHANGE
Target $104
COWN
Outperform
Wingstop reiterated as top pick ahead of Q3 results at Cowen
Cowen analyst Andrew Charles raised his Q3 comp estimates to a Street high 11% due to underlying brand momentum, five weeks of national TV advertising, and third party traction. Charles reiterated his Outperform rating and $104 price target on Wingstop shares.
10/08/19
LOOP
10/08/19
INITIATION
Target $100
LOOP
Buy
Wingstop initiated with a Buy rating at Loop Capital
Loop Capital initiated coverage of Wingstop with a Buy rating rating and $100 price target.
09/19/19
09/19/19
INITIATION

Perform
Wingstop initiated with a Perform on elevated expectations at Oppenheimer
As previously reported, Oppenheimer analyst Michael Tamas started coverage of Wingstop with a Perform rating despite "strong fundamentals," as expectations appear elevated highlighted by strong year-to-date same-store sales and consensus estimates above management's targeted long-term growth. Further, he notes that the Street already forecasts mid-teens EBITDA growth annually and his analysis points to limited upside, capital returns via special dividends every 18 months represent a well-understood playbook, and a 49-times EV/EBITDA multiple off 2020E appears to appreciate current sales momentum.
10/03/19
NRCS
10/03/19
UPGRADE
NRCS
Neutral
Wingstop upgraded to Neutral from Sell at Northcoast
LX LexinFintech
$8.90

0.305 (3.55%)

10/08/19
FBCO
10/08/19
INITIATION
FBCO
Outperform
LexinFintech initiated with an Outperform at Credit Suisse
Credit Suisse initiated LexinFintech with an Outperform rating and a $17 price target. The analyst believes LexinFintech has comparative advantages in risk control capability and sustainable customer acquisition, and forecast "robust origination volume growth" for FY19-FY21.
05/01/19
DBAB
05/01/19
NO CHANGE
DBAB
LexinFintech, Qudian to benefit if China issues licenses, says Deutsche Bank
Deutsche Bank said that China's Banking and Insurance Regulatory Commission has announced its regulation drafting schedule for 2019, noting that the plan includes regulation intended for online micro lending businesses. The firm believes that getting a proper online lending license is a key upside event for listed online lenders in China, pointing to LexinFintech (LX) and Qudian (QD) as "key beneficiaries" in the event licenses get issued. The firm raised its price targets for both stocks as it factors in a 50% chance of obtaining an online lending license with lower cost of equity assumptions. Deutsche Bank maintains a Buy rating on LexinFintech and a Hold rating on Qudian.
05/10/19
BNPP
05/10/19
UPGRADE
BNPP
Buy
LexinFintech upgraded to Buy from Hold at BNP Paribas
05/14/19
CHRS
05/14/19
INITIATION
Target $18
CHRS
Buy
LexinFintech assumed with a Buy at China Renaissance
China Renaissance analyst Jiang Zhang assumed coverage of LexinFintech with a Buy rating and $18 price target, citing the company's niche leadership in the young educated adult segment.
NYT New York Times
$28.16

-0.265 (-0.93%)

10/02/19
JPMS
10/02/19
NO CHANGE
Target $37
JPMS
Overweight
New York Times subscriber growth to accelerate in 2020, says JPMorgan
New York Times has successfully transformed itself into a digital growth business mitigating declines in print, JPMorgan analyst Alexia Quadrani tells investors in a research following a deep dive into the company's future outlook. She believes New York Times' subscriber growth is likely to accelerate, although with its costs remaining elevated. The analyst expects an acceleration in subscriber growth beginning in 2020, driven by the elevated news cycle around the elections and the return on investments the company has been making to broaden the product offering and better convert the casual reader to a subscriber. Its addressable market is large and competition thus far is "somewhat limited," contends Quadrani. The analyst established a December 2020 price target for the shares of $37 and raised her subscriber adds for the core news product in 2020 to 600,000 from 575,000 and digital to 275,000 from 250,000. Quadrani keeps an Overweight rating on New York Times.
12/13/18
EVER
12/13/18
INITIATION
EVER
Outperform
New York Times initiated with an Outperform at Evercore ISI
10/09/19
GUGG
10/09/19
INITIATION
Target $27.5
GUGG
Neutral
New York Times initiated with a Neutral at Guggenheim
Guggenheim analyst Curry Baker initiated New York Times with a Neutral rating and a price target of $27.50. The analyst notes that while the company has successfully transformed its business model into a digital, subscription-first enterprise over the past five years, it looks to be falling short on its target of reaching 10M subscribers by 2025. Baker is forecasting about 9.4M subscribers by that year, adding that New York Times stock is currently trading at a "rich premium" to its peer set and other media companies.
12/14/18
12/14/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Outperform at Wedbush and a Hold at Deutsche Bank. 2. New York Times (NYT) initiated with an Outperform at Evercore ISI. 3. Ford (F) and General Motors (GM) were initiated with a Buy at Deutsche Bank, while Autoliv (ALV) was initiated with a Sell. 4. AstraZeneca (AZN) initiated with a Buy at SunTrust while GlaxoSmithKline (GSK) was initiated with a Hold. 5. DaVita (DVA) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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TEVA

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