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NKE

Nike

$94.70

0.8 (0.85%)

, WDC

Western Digital

$59.86

1.5 (2.57%)

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

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Neutral from Underperform at BofA/Merrill with analyst Robert Ohmes saying that he expects the "accelerated democratization" of the brand to offset the broader future challenges around "significant" third-party retail store closures and global stagnation in "performance" footwear/apparel. 2. Western Digital (WDC) upgraded to Buy from Hold at Loop Capital with analyst Ananda Baruah citing his findings that flash memory average selling prices are set to increase starting in the September and December quarters while also sustaining those increases in 2020, along with expectations of strong hyperscale HDD demand next year. 3. Varian Medical (VAR) upgraded to Buy from Neutral at BTIG with analyst Sean Lavin saying Varian shares have pulled back in recent weeks and now trade in line with the comp group. 4. Xilinx (XLNX) upgraded to Buy from Neutral at Nomura Instinet with analyst David Wong saying many risks remain for U.S. semiconductor companies, including uncertainties related to U.S./China trade issues and U.S. action against Chinese companies such as Huawei. 5. HP Enterprise (HPE) upgraded to In Line from Underperform at Evercore ISI with analyst Amit Daryanani saying he is incrementally more positive on cash flow resiliency, the Cray acquisition, recent data points that indicate H3C is performing better than other OEMs in China, and valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

NKE

Nike

$94.70

0.8 (0.85%)

WDC

Western Digital

$59.86

1.5 (2.57%)

VAR

Varian Medical

$112.50

1.72 (1.55%)

XLNX

Xilinx

$96.70

0.52 (0.54%)

HPE

HP Enterprise

$14.77

0.42 (2.93%)

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NKE Nike
$94.70

0.8 (0.85%)

10/14/19
BOFA
10/14/19
UPGRADE
Target $98
BOFA
Neutral
Nike upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Robert Ohmes upgraded Nike (NKE) to Neutral with a price target of $98, saying that he expects the "accelerated democratization" of the brand to offset the broader future challenges around "significant" third-party retail store closures and global stagnation in "performance" footwear/apparel. The analyst notes that while Adidas (ADDYY) is resurging as a global competitor, he sees the decline in consensus estimates for Nike as having ended and anticipates some Q1 earnings upside from the company's "less technical "Sportswear" businesses".
10/11/19
NEED
10/11/19
NO CHANGE
Target $98
NEED
Buy
Needham doesn't see material hit to Nike from NBA/China friction
Needham analyst Rick Patel tells investors in a research note that while it is too early to have high conviction on the implications for Nike from the friction between the NBA and China because the situation is "fluid," the analyst says read-throughs from the ongoing trade dispute are "encouraging," as Chinese consumers have not turned on American brands despite trade tensions. In its most recent quarter, Nike's Greater China sales accelerated to +27%, and Patel says he believes the bulk of Nike's business in Greater China is in sportswear and Jordan, not NBA-specific items. Patel, who has a Buy rating and $98 price target on Nike shares, says he anticipates Nike's strong trajectory in China will continue given its credibility in sportswear, digital momentum, as well as government efforts to boost active lifestyles.
10/14/19
BOFA
10/14/19
UPGRADE
BOFA
Neutral
Nike upgraded to Neutral from Underperform at BofA/Merrill
10/10/19
OPCO
10/10/19
NO CHANGE
Target $115
OPCO
Outperform
Nike price target raised to $115 from $100 at Oppenheimer
Oppenheimer analyst Brian Nagel raised his price target for Nike to $115 from $100 ahead of quarterly results. As part of the company's recently enacted Consumer Direct Offense, Nike has improved "meaningfully" product innovation and is leveraging better a strengthened digital backbone, efforts that are fueling upticks in sales and margins throughout the organization, he contends. The analyst reiterates an Outperform rating on the shares.
WDC Western Digital
$59.86

1.5 (2.57%)

10/08/19
MSCO
10/08/19
NO CHANGE
Target $60
MSCO
Overweight
Morgan Stanley still a buyer of Ambarella despite entity list news
Morgan Stanley analyst Joseph Moore said he remains a buyer of Ambarella (AMBA) shares despite reports that the list of 28 Chinese companies added to the U.S. entity list includes two customers that each make up low to mid teens percentage of the company's revenue, HIKVision and Dahua. He sees three potential mitigating factors: the fact that Ambarella may still be able to ship to entity list customers; the potential for Chinese customers to lose share to other Ambarella customers outside of China; and this impacts the legacy business and he is most enthused about Ambarella's computer vision ramp. Moore maintains an Overweight rating on Ambarella with an unchanged $60 price target. He also notes that ON Semiconductor (ON) has "modest exposure" to the surveillance market and that hard disk drive makers Seagate (STX) and Western Digital (WDC) also have "small exposure" to the surveillance markets.
10/14/19
LOOP
10/14/19
UPGRADE
LOOP
Buy
Western Digital upgraded to Buy from Hold at Loop Capital
10/01/19
RBCM
10/01/19
NO CHANGE
Target $65
RBCM
Outperform
Western Digital benefiting from better than feared NAND cycle, says RBC Capital
RBC Capital analyst Mitch Steves keeps his Outperform rating and $65 price target on Western Digital (WDC), saying the recent reduction of the operating margin target by Seagate (STX) at its Analyst Day suggest that NAND memory is replacing HDDs in high storage environment. The analyst contends that as costs per terabyte on flash arrays comes down, Western Digital stands to benefit from the NAND pricing trends. Steves is also positive on the company's ability to "accelerate and further improve capital allocation" as well as expand its leadership in enterprise drives.
10/14/19
LOOP
10/14/19
UPGRADE
Target $75
LOOP
Buy
Western Digital upgraded to Buy from Hold at Loop Capital
Loop Capital analyst Ananda Baruah upgraded Western Digital to Buy from Hold with a price target of $75, up from $50. The analyst cites his findings that flash memory average selling prices are set to increase starting in the September and December quarters while also sustaining those increases in 2020, along with expectations of strong hyperscale HDD demand next year. Baruah is modeling his price target with an assumed 2021 earnings multiple of 10-times, but adds that there is potential for that multiple to rise to 12- to 15- times if Western Digital can grow its revenue by about 15% in 2020.
VAR Varian Medical
$112.50

1.72 (1.55%)

09/23/19
BRRR
09/23/19
NO CHANGE
Target $146
BRRR
Outperform
Varian Medical price target raised to $146 from $142 at Barrington
Barrington analyst Michael Petusky raised his price target for Varian Medical Systems to $146 from $142 after the company held a meeting for investors at this year's ASTRO Conference. Varian remains committed to broadening its "already significant" footprint in the cancer care space and highlighted several ways in which it will deliver value to care providers, patients and payors, Petusky tells investors in a research note. The analyst "strong" believes that the company is well positioned for any potential reimbursement changes that might come as healthcare continues to evolve towards a more value-based model. He keeps an Outperform rating on Varian Medical.
09/12/19
EVER
09/12/19
UPGRADE
Target $123.5
EVER
In Line
Evercore upgrades Varian Medical to In Line on tariff relief from China
Evercore ISI analyst Vijay Kumar upgraded Varian Medical Systems to In Line from Underperform and raised his price target for the shares to $123.50 from $122. The analyst upgraded the shares after Varian received an exemption from China relative to the tariffs on imports from the U.S. The analyst thinks Varian's earnings were hurt by 3%-4% in fiscal 2019 from the tariffs, or 15c-20c per share. However, some of the upside from the tariff relief is offset by lower organic sales assumptions and currency volatility, Kumar tells investors in a research note.
09/12/19
EVER
09/12/19
UPGRADE
EVER
In Line
Varian Medical upgraded to In Line from Underperform at Evercore ISI
10/14/19
BTIG
10/14/19
UPGRADE
Target $130
BTIG
Buy
Varian Medical upgraded to Buy from Neutral at BTIG
BTIG analyst Sean Lavin upgraded Varian Medical to Buy from Neutral with a $130 price target. Varian shares have pulled back in recent weeks and now trade in line with the comp group, Lavin tells investors in a research note. The analyst, however, thinks the company deserves to trade at a small premium to the group since it growing both revenue and earnings faster than its peers. Further, Varian Medical has an "enviable market leading position," and is shifting its business toward faster growing, higher margin areas such as software and single-use devices, contends the analyst. He views the stock pullback as an opportunity to upgrade the shares to Buy.
XLNX Xilinx
$96.70

0.52 (0.54%)

10/02/19
RHCO
10/02/19
NO CHANGE
Target $105
RHCO
Hold
Xilinx price target lowered to $105 from $127 at SunTrust
SunTrust analyst William Stein lowered his price target on Xilinx (XLNX) to $105 and kept his Hold rating, saying that he prefers market leader Nvidia (NVDA) in the compute arena for server acceleration. The analyst still sees Xilinx as an "excellent company" that is well positioned to deliver high returns and profitable growth over time, but he prefers a more opportune entry point during this "downturn part" of the cycle.
10/13/19
NOMU
10/13/19
UPGRADE
Target $115
NOMU
Buy
Xilinx upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst David Wong upgraded Xilinx (XLNX) to Buy from Neutral with an unchanged price target of $115. The stock closed Friday up $3.41 to $96.22. Many risks remain for U.S. semiconductor companies, including uncertainties related to U.S./China trade issues and U.S. action against Chinese companies such as Huawei, Wong tells investors in a research note. However, Xilinx's stock price and estimates have adjusted to reflect these risks, adds the analyst. He points out that the company is growing even with Huawei constraints. Xilinx has also gained meaningful share from Intel's (INTC) Altera in recent quarters, contends Wong.
10/01/19
10/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Celanese (CE) downgraded to Neutral from Buy at Goldman Sachs with analyst Robert Koort citing valuation. 2. Welltower (WELL) downgraded to Equal Weight from Overweight at Barclays with analyst Steven Valiquette citing valuation. 3. Xilinx (XLNX) downgraded to Sector Weight from Overweight at KeyBanc. 4. Public Storage (PSA) downgraded to Underperform from In Line at Evercore ISI. 5. Thor Industries (THO) downgraded to Neutral from Buy at Northcoast with analyst Brandon Rolle saying he views shares as "fairly" valued following yesterday's rally and would get more constructive if there was evidence of improving North American retail demand and market share stabilization. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/19
KEYB
10/01/19
NO CHANGE
KEYB
KeyBanc makes four Semiconductor rating changes after trip to Asia
KeyBanc analyst Weston Twigg made four rating changes in the Semiconductors space after his quarterly trip to Asia revealed overall demand trends, while still weak, "are not getting worse." The analyst was encouraged to find inventories are beginning to normalize and that expectations are for normal seasonality in Q4. As a result, he upgraded Analog Devices (ADI), Microchip (MCHP), and NXP Semiconductors (NXPI) to Overweight from Sector Weight. Conversely, the China insourcing trends at Huawei and other manufacturers are accelerating faster than Twigg had expected, which results in his downgrade of Xilinx (XLNX) to Sector Weight from Overweight. The analyst also recommends building long-term positions in semi-cap and memory stocks like KLA-Tencor (KLAC), Teradyne (TER), Micron Technology (MU), MKS Instruments (MKSI), Entegris (ENTG), Applied Materials (AMAT) and Lam Research (LRCX). Lastly, Twigg says that initial demand for Apple's (AAPL) new iPhone "appears to be slightly worse than expected."
HPE HP Enterprise
$14.77

0.42 (2.93%)

10/14/19
EVER
10/14/19
UPGRADE
EVER
In Line
HP Enterprise upgraded to In Line from Underperform at Evercore ISI
08/29/19
ARGS
08/29/19
UPGRADE
Target $18
ARGS
Buy
HP Enterprise upgraded to Buy from Hold at Argus
Argus analyst Jim Kelleher upgraded HP Enterprise to Buy with a price target of $18 after its Q3 earnings beat and raised FY19 guidance delivered earlier this week. The analyst notes that the company is facing "top-line challenges" but its positive earnings comparisons imply an "improving" sales mix. Following a multi-year period of underperformance, Kelleher also contends that HP Enterprise is offering "unrecognized value" thanks to its stronger operating model going forward.
08/29/19
08/29/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Jabil (JBL) double upgraded to Buy from Sell at Citi with analyst Jim Suva saying the company's customer concentration risk has played out. 2. HP Enterprise (HPE) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the company is facing "top-line challenges" but its positive earnings comparisons imply an "improving" sales mix. 3. Fiserv (FISV) upgraded to Buy from Neutral at Citi with analyst Ashwin Shirvaikar saying Fiserv acquired an attractive asset in First Data and the stock of the combined company offers a good idea in a volatile market. 4. NextGen Healthcare (NXGN) upgraded to Sector Weight from Underweight at KeyBanc with analyst Donald Hooker saying he believes the compact is having success re-accelerating its organic revenue growth rates into the low-single digits. 5. Tallgrass Energy (TGE) upgraded to Neutral from Underperform at BofA/Merrill analyst Dennis Coleman citing the disclosure of a take-private proposal from Blackstone Infrastructure Partners earlier this week. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
EVER
10/14/19
UPGRADE
Target $15
EVER
In Line
HP Enterprise upgraded to In Line, risk/reward balanced, says Evercore ISI
As previously reported, Evercore ISI analyst Amit Daryanani upgraded HP Enterprise to In Line from Underperform a price target of $15, up from $13. The analyst is incrementally more positive on cash flow resiliency, the Cray acquisition, recent data points that indicate H3C is performing better than other OEMs in China, and valuation.

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EH

Ehang

$0.00

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SHAK

Shake Shack

$59.20

0.29 (0.49%)

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MCK

McKesson

$144.02

0.62 (0.43%)

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CAT

Caterpillar

$146.49

2.42 (1.68%)

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  • 31

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BILL

Bill.com

$0.00

(0.00%)

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BBU

Brookfield Business Partners

$40.99

(0.00%)

, GNW

Genworth

$4.60

0.135 (3.03%)

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BBU

Brookfield Business Partners

$40.99

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GNW

Genworth

$4.60

0.135 (3.03%)

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TSLA

Tesla

$359.21

6.81 (1.93%)

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GE

General Electric

$11.42

0.44 (4.01%)

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BILL

Bill.com

$0.00

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AbbVie

$88.15

1.46 (1.68%)

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