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UNH

UnitedHealth

$220.32

-1.69 (-0.76%)

, JPM

JPMorgan

$116.39

0.23 (0.20%)

09:05
10/15/19
10/15
09:05
10/15/19
09:05

Fly Intel: Pre-market Movers

UP AFTER EARNINGS: UnitedHealth (UNH), up 3%... JPMorgan (JPM), up 2%... Johnson & Johnson (JNJ), up 2%. ALSO HIGHER: Reata Pharmaceuticals (RETA), up 46% after announcing that the registrational Part 2 portion of the MOXIe Phase 2 trial of omaveloxolone in patients with Friedreich's ataxia met its primary endpoint of change in the modified Friedreich's Ataxia Rating Scale relative to placebo after 48 weeks of treatment... Ambarella (AMBA), up 6% after the company said it does not expect the Entity List Rule to have a significant impact on the company's current financial results and confirmed its previously issued guidance... AgroFresh (AGFS), up 19% after announcing the company was awarded a verdict of $31.1M in damages by a jury in its litigation against Decco Post-Harvest. and Decco's parent company, UPL Limited. DOWN AFTER EARNINGS: Goldman Sachs (GS), down 2%... Citi (C), down 1%. ALSO LOWER: SolarEdge (SEDG), down 3% after it was announced that the company is being replaced by Glu Mobile (GLUU) in the S&P 600 at open on October 18... Terex (TEX), down 5% after Citi analyst Timothy Thein downgraded the stock to Sell from Neutral with a price target of $24, down from $27.

UNH

UnitedHealth

$220.32

-1.69 (-0.76%)

JPM

JPMorgan

$116.39

0.23 (0.20%)

JNJ

Johnson & Johnson

$130.67

-0.68 (-0.52%)

GS

Goldman Sachs

$205.81

1.11 (0.54%)

C

Citi

$70.28

0.18 (0.26%)

AMBA

Ambarella

$53.11

-0.51 (-0.95%)

RETA

Reata Pharmaceuticals

$100.37

4.57 (4.77%)

AGFS

AgroFresh Solutions

$2.39

0.125 (5.53%)

SEDG

SolarEdge

$89.14

0.19 (0.21%)

TEX

Terex

$25.11

0.16 (0.64%)

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UNH UnitedHealth
$220.32

-1.69 (-0.76%)

10/10/19
JEFF
10/10/19
DOWNGRADE
Target $235
JEFF
Hold
Jefferies downgrades UnitedHealth to Hold, cuts Managed Care price targets
Jefferies analyst David Windley downgraded UnitedHealth (UNH) to Hold from Buy with a price target of $235, down from $300. Managed Care sentiment "turned abruptly negative a year ago and has stubbornly remained there," Windley tells investors in a research note. Further, the political risk causing this won't likely abate for at least another nine months, contends the analyst. In addition to the political overhang, he's concerned UnitedHealth's (UNH) commercial enrollment is at risk to Anthem (ANTM). Along with the downgrade of UnitedHealth, Windley cut his price target for Buy-rated Anthem to $299 from $365, for Buy-rated Centene (CNC) to $53 from $76, for Buy-rated Cigna (CI) to $203 from $233, for Buy-rated Humana (HUM) to $322 from $352, for Buy-rated Molina Healthcare (MOH) to $133 from $173 and for Hold-rated WellCare (WCG) to $264 from $302.
10/08/19
CANT
10/08/19
NO CHANGE
Target $310
CANT
Overweight
UnitedHealth pullback on policy noise an opportunity, says Cantor Fitzgerald
Cantor Fitzgerald analyst Steven Halper says shares of UnitedHealth are attractive at current levels. He reiterates an Overweight rating on the name with a $310 price target ahead of the company's Q3 results on October 15. Optum will continue to be a strong growth driver for UnitedHealth, driven by solid performance across all three of the unit's operating segments, Halper tells investors in a pre-earnings research note. The analyst continue believe sweeping changes to the U.S. healthcare system, which has pressured the stock, are unlikely. Policy noise has created an attractive buying opportunity into UnitedHealth, says Halper.
10/10/19
JEFF
10/10/19
DOWNGRADE
Target $235
JEFF
Hold
UnitedHealth downgraded to Hold from Buy at Jefferies
Jefferies analyst David Windley downgraded UnitedHealth to Hold from Buy with a price target of $235, down from $300.
10/10/19
RHCO
10/10/19
NO CHANGE
Target $330
RHCO
Hold
SunTrust 'bullish' across healthcare services space ahead of Q3 results
SunTrust analyst David MacDonald says he remains "bullish" across much of the healthcare services space ahead of third quarter results, citing "solid" core trends, "attractive" secular tailwinds, "robust" M&A and "strong" free cash flow. While he expects ongoing intermittent "chop" as industry noise continues to weigh, he views the risk of meaningful structural change as quite low, continues to favor scaled, integrated providers in the ongoing shift towards value and views valuation risk/rewards as increasingly attractive. The analyst tells investors in a research note that he does not necessarily view Q3 results as a meaningful trigger and thinks improved visibility around the election and Democratic primary is key, MacDonald remains bullish on core fundamentals, sees significant inherent sector drivers and says Managed Care remains a favorite fundamental sector. The analyst raised his price target for Anthem (ANTM) to $330 from $290, on Centene (CNC) to $80 from $72, on Cigna (CI) to $260 from $230, on Humana (HUM) to $340 from $310, on Molina (MOH) to $180 from $165, on UnitedHealth (UNH) to $330 from $310, on WellCare (WCG) to $340 from $320, on Ensign Group (ENSG) to $60 from $44 and Tivity Health (TVTY) to $24 from $21.
JPM JPMorgan
$116.39

0.23 (0.20%)

09/16/19
09/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Halliburton (HAL) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson saying he sees "only modest upside" to the shares after revising his estimates lower. 2. Aurora Cannabis (ACB) downgraded to Sell from Hold at Stifel with analyst W. Andrew Carter saying he sees "meaningful downside" from current share levels following the company's "disappointing" Q4 earnings release. 3. HP Inc. (HPQ) downgraded to Neutral from Buy at UBS with analyst John Roy saying he points to downside risk for the company's flat expectations in its printing supplies business amid low visibility and uncertain macro backdrop. Roy further believes that HP's PC margin would decline by more than consensus as the company passes through the component price declines and the sales mix shift away from commercial. 4. Dick's Sporting (DKS) downgraded to Market Perform from Outperform at Wells Fargo with analyst Tom Nikic saying now that Dick's has returned to positive comps and the stock has re-rated, the risk/reward is more evenly balanced. 5. JPMorgan (JPM) downgraded to Neutral from Buy at Buckingham with analyst James Mitchell citing 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.
09/24/19
MSCO
09/24/19
NO CHANGE
MSCO
Large-cap banks aren't gaining deposit market share, says Morgan Stanley
Morgan Stanley analyst Ken Zerbe said he continues to hear the "false narrative" that large-cap banks must be gaining market share due to their superior technology, but he insists they are not and that small and mid-cap banks have consistently gained deposit market share over the last five years. Individual large-cap banks that have had the biggest deposit share gains include Goldman Sachs (GS), Ally Financial (ALLY) and Synchrony Financial (SYF), while mid-cap banks that have delivered the biggest gains in share of total deposits include First Republic (FRC), KeyCorp (KEY) and Huntington (HBAN), Zerbe tells investors. Large-cap banks that have seen the largest declines in their respective individual shares of total deposits include JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C), while deposit share losers among mid-cap banks include Comerica (CMA), Prosperity Bancshares (PB) and Zions (ZION), said Zerbe.
09/16/19
BUCK
09/16/19
DOWNGRADE
BUCK
Neutral
JPMorgan downgraded to Neutral from Buy at Buckingham
09/16/19
BUCK
09/16/19
DOWNGRADE
Target $122
BUCK
Neutral
Buckingham downgrades 'great company' JPMorgan to Neutral on valuation
As previously reported, Buckingham analyst James Mitchell downgraded JPMorgan to Neutral from Buy, calling it a "great company" whose shares have become fairly valued and now trade at nearly a 30% premium on a P/E basis to its peer group. He stills views JPMorgan as an attractive story for long-term holders and believes its "best-in-class" top line growth and returns can continue. Mitchell has a $122 price target on JPMorgan shares.
JNJ Johnson & Johnson
$130.67

-0.68 (-0.52%)

10/11/19
BERN
10/11/19
UPGRADE
Target $155
BERN
Outperform
Bernstein upgrades 'historically cheap' Johnson & Johnson to Outperform
Bernstein analyst Lee Hambright upgraded Johnson & Johnson to Outperform from Market Perform with a price target of $155, up from $148. The shares in premarket trading are up $1.94, or 1.5%, to $131. The stock is "historically cheap," currently trading at a 17% discount to its sum-of-the-parts and a 13% discount to the S&P 500 Index, Hambright tells investors in a research note. The analyst, who believes J&J will resolve its legal liability for $10B-$12B, says the shares reflect a worst case scenario with $50B of liabilities being priced in. Following discussions with legal experts, Hambright has a "hard time seeing the worst-case scenarios playing out." The analyst estimates Johnson & Johnson faces about $5B of liability for opioids, another $5B for talc, and $800M for Risperdal.
10/11/19
BERN
10/11/19
UPGRADE
BERN
Outperform
Johnson & Johnson upgraded to Outperform from Market Perform at Bernstein
10/02/19
WELS
10/02/19
NO CHANGE
WELS
Outperform
J&J Ohio settlements suggest 'manageable' liability, says Wells Fargo
Wells Fargo analyst Larry Biegelsen notes that Johnson & Johnson has announced a settlement agreement with the Ohio counties of Cuyahoga and Summit that resolves all of the counties' claims with no admission of liability and removes the company from the federal trial scheduled to begin October 21, 2019 for a total of $20.4M. The analyst notes that after applying the total settlement amount to the populations of Cuyahoga and Summit counties and that to the total U.S. population of 327M, he arrives at a total settlement amount of $3.7B, which is well below his expected total settlement amount of $10B-$15B. Importantly, Biegelsen expects any settlement amount to be paid over a period of many years which will make the potential payments more manageable for Johnson & Johnson. He has an Outperform rating on the shares.
08/27/19
FBCO
08/27/19
NO CHANGE
Target $156
FBCO
Outperform
Opioid ruling reduces uncertainty, helps J&J move higher, says Credit Suisse
Credit Suisse analyst Matt Miksic notes that Johnson & Johnson appeared to react favorably to Oklahoma opioid ruling, due in part, to the $572M penalty being substantially lower than the $17B sought by State prosecutors. The analyst believes the decision helped reduce the range of uncertainty related to the potential opioid-related liability Johnson & Johnson could face, specifically in Oklahoma, if not across the U.S. more broadly. Miksic reiterates an Outperform rating and $156 target on the shares.
GS Goldman Sachs
$205.81

1.11 (0.54%)

10/14/19
KBWI
10/14/19
NO CHANGE
KBWI
Hard for Goldman, Morgan Stanley to justify E-Trade deal, says Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl looked into whether an acquisition of E-Trade (ETFC) would make sense for Goldman Sachs (GS) or Morgan Stanley (MS) after the electronic brokers reduced their commission rates. The analyst says he could make the strategic rationale for why a broker would buy an e-broker, namely cost savings and customer base expansion. However, ultimately a deal has to make sense financially as well, and it would be hard for Morgan or Goldman to justify on this basis, Kleinhanzl tells investors in a research note. In addition, with both brokers trading near tangible book value, shareholders would prefer buybacks versus an acquisition as a better use of shareholder capital at this point in the cycle, adds the analyst. As such a result, Kleinhanzl sees a deal for E-Trade as unlikely given the financial and capital impacts. He would be surprised if either broker aggressively pursued E-Trade as an acquisition.
09/05/19
ODEN
09/05/19
DOWNGRADE
ODEN
Hold
Goldman Sachs downgraded to Hold from Buy at Odeon Capital
Odeon Capital analyst Richard Bove downgraded Goldman Sachs to Hold from Buy, stating that he respects CEO David Solomon for moving aggressively to fix the bank's problems, but "the task is sizable and apparently it will take more time and more effort to put the company on a sounder course."
10/02/19
ODEN
10/02/19
NO CHANGE
ODEN
Hold
Goldman Sachs 'quite likely' to beat Q3 earnings consensus, says Odeon Capital
Odeon Capital analyst Richard Bove pointed out three reasons that he believes it is "quite likely" that Goldman Sachs will top the Q3 consensus EPS forecast of $5.41. The bank was ranked by Bloomberg as number one in U.S. equity offerings in the quarter, trading activity is likely to be higher on both a sequential and year-over-year basis and Goldman "typically" starts the process of lowering estimated compensation expenses in Q3, said Bove. Bove keeps a Hold rating on Goldman Sachs shares, noting that he thinks Goldman is unlikely to match its Q3 results in Q4.
C Citi
$70.28

0.18 (0.26%)

07/26/19
07/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Goldman Sachs (GS) and Citi (C) upgraded to Outperform from Market Perform at Keefe Bruyette. 2. Ambev (ABEV) upgraded to Neutral from Underweight at JPMorgan with analyst Lucas Ferreira saying the post-earnings share rally shows that investors are chasing good growth stories to play Brazil's economic recovery. 3. West Pharmaceutical (WST) upgraded to Neutral from Underperform at BofA/Merrill with analyst Derik de Bruin saying that over the course of the first half, the company addressed his prior concerns around organic revenue growth and product mix trends while also boosting its operating margins and generating higher free cash flows. 4. Union Pacific (UNP) upgraded to Overweight from Neutral at Atlantic Equities, while CSX (CSX) was upgraded to Neutral from Underweight. 5. Hasbro (HAS) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's dominant position with a range of "strong" brands as well as in the big-screen business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/19
BOFA
09/06/19
NO CHANGE
BOFA
BofA/Merrill sees Citi, Citizens BB&T risk/reward as 'compelling'
BofA Merrill Lynch analyst Erika Najarian said she does not believe bank stocks are pricing in a recession, though they are "bearing the brunt of cycle concerns." Bank stocks could be at a near-term bottom, said Najarian, who sees compelling risk/rewards for shares of Citi (C), Citizens Financial (CFG) and BB&T (BBT) even when taking into account theoretical fair value in a recession. Even in the case of a recession, banks have materially improved underwriting since the financial crisis and she estimates an average 46% EPS hit in a downturn but only a 5% hit in tangible book value versus consensus 2020 forecasts, Najarian tells investors.
09/10/19
UBSW
09/10/19
DOWNGRADE
Target $49
UBSW
Neutral
Wells Fargo downgraded to Neutral from Buy at UBS
UBS analyst Saul Martinez downgraded Wells Fargo (WFC) to Neutral and lowered his price target on the stock to $49 from $51. The analyst attributes the rating change to his reduced estimates for earnings and lower net interest income along with the continued uncertainty and low visibility around the progress in the management's efficiency improvements. Martinez also cites Wells Fargo's relative valuation, with shares trading at 11.3-times expected FY20 earnings - a premium to JP Morgan's (JPM) 10.8-times, Bank of America's (BAC) 9.2-times, and Citigroup's (C) 7.9-times.
AMBA Ambarella
$53.11

-0.51 (-0.95%)

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.
10/08/19
STFL
10/08/19
NO CHANGE
Target $54
STFL
Hold
Ambarella price target cut to $54 at Stifel after customers added to entity list
Stifel analyst Tore Svanberg noted Reuters' report that two of the 28 Chinese security companies added to the U.S. Entity List were Hikvision and Dahua, which he estimates make up about 25% of Ambarella's security camera revenue or about 15% of total sales. He thinks Ambarella may be able to continue to ship product to these customers, but expects the restrictions to hurt the camera makers' ability to acquire the full bill of materials, which could hurt Ambarella's end-market sales, Svanberg stated. He lowered his price target on Ambarella to $54 from $61 in light of the news and keeps a Hold rating on the stock.
10/08/19
KEYB
10/08/19
NO CHANGE
KEYB
KeyBanc lowers Ambarella/ON estimates as HikVision/Dahua make U.S. Entity List
KeyBanc analyst John Vinh notes that the U.S. Department of Commerce announced that it has added 28 Chinese public security bureaus and companies, including HikVision and Dahua, to the U.S. Entity List for enabling activities contrary to the foreign policy interests of the United States. The analyst is lowering his estimates on Ambarella (AMBA) significantly as HikVision/Dahua represent a total of about 20% of the company's revenue. Additionally, he is also trimming his ON Semiconductor (ON) estimates, as Vinh believes the company's exposure to be about 1%-2%.
10/04/19
10/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HP Inc. (HPQ) downgraded to Hold from Buy at Loop Capital with analyst Ananda Baruah citing HP's Analyst Day presentation disclosing strategic initiatives, job cuts, and a free cash flow guide of $3B in FY20 vs. $3.7B in FY21. 2. Insulet (PODD) downgraded to Neutral from Buy at UBS with analyst Matthew Taylor citing valuation. 3. NIO Inc. (NIO) downgraded to Neutral from Buy at Goldman Sachs with analyst Fei Fang saying Nio's share price has fallen 40% since September 24, when the company announced Q2 results, which Fang attributes to uncertainties about volume since Chinese EV sales have rapidly declined after the government reduced electric vehicle subsidies and about the company's capital structure and funding needs. 4. EchoStar (SATS) downgraded to Neutral from Buy at Citi with analyst Michael Rollins saying the company's lack of free cash flow and limited visibility on its future growth prospects will likely limit the potential for multiple expansion. 5. Ambarella (AMBA) resumed with a Hold from Buy at Stifel with analyst Tore Svanberg saying he believes inventory build in security surveillance, especially China, could limit near term upside in the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
RETA Reata Pharmaceuticals
$100.37

4.57 (4.77%)

10/10/19
STFL
10/10/19
NO CHANGE
Target $135
STFL
Buy
Reata Pharmaceuticals 'bold move' should be well received by Street, says Stifel
Stifel analyst Adam Walsh notes that in "a bold move" likely to be well received by the Street, Reata Pharmaceuticals (RETA) reacquired ex-U.S. rights to BARD, OMAV, and other Nrf2 activators from AbbVie (ABBV) for total deal consideration of $330M. Given AbbVie's lack of a significant renal franchise, the reacquisition of ex-U.S. BARD rights restores strategic flexibility to Reata and provides the opportunity to either find a more engaging development partner, go it alone ex-U.S., or sell the company outright, he contends. Further, the analyst believes the deal terms look "highly reasonable" relative to potential ex-U.S. BARD sales. Walsh has a Buy rating and $135 price target on Reata's shares.
10/14/19
LEER
10/14/19
NO CHANGE
Target $180
LEER
Outperform
Reata Pharmaceuticals price target raised to $180 form $139 at SVB Leerink
SVB Leerink analyst Joseph Schwartz raised his price target for Reata Pharmaceuticals to $180 from $139, while reiterating an Outperform rating on the shares. The analyst believes Bardoxolone methyl remains a key growth driver for Reata with Phase.3 CARDINAL data expected near-term. Additional analysis since his CARDINAL preview suggests that a positive CARDINAL outcome has the potential to lift the stock by 25%-50% and that a valuation of $4B-$7B is reasonable post-data. Lastly, although Phase 3 CARDINAL data are expected after American Society of Nephrology Kidney Week, emerging evidence continues to dispel concerns of hyperfiltration, he contends.
10/15/19
CANT
10/15/19
NO CHANGE
Target $180
CANT
Overweight
Reata Pharmaceuticals price target raised to $180 from $125 at Cantor Fitzgerald
Cantor Fitzgerald analyst Charles Duncan raised his price target for Reata Pharmaceuticals to $180 from $125 saying the company last night announced favorable top-line data for its registrational MOXIe trial in Friedreich's ataxia. Though this win "is clearly a surprise" given that no drugs are approved in Friedreich's ataxia, MOXIe's superior design, enriched enrollment criteria, and powering set it up with a non-zero probability for a positive outcome, Duncan tells investors in a research note. The analyst now sees omaveloxolone as a source of "significant" potential revenue following a new drug appliaction in late 2020 and possible launch in late 2021. He reiterates an Overweight rating on Reata Pharmaceuticals.
10/15/19
SBSH
10/15/19
NO CHANGE
Target $241
SBSH
Buy
Reata shares worth $241 after 'unequivocal upside win,' says Citi
Citi analyst Yigal Nochomovitz raised his price target for Reata Pharmaceuticals to $241 from $194 and reiterates the stock as a top pick with a Buy rating. The stock in premarket trading is up 34%, or $34.43, to $135.02. The registrational Part 2 portion of the MOXIe Phase 2 trial of omaveloxolone in patients with Friedreich's ataxia is a "best case scenario," Nochomovitz tells investors in a research note. The data are an "unequivocal upside win" for Reata, especially amidst very low expectations for the trial, says the analyst. He sees omaveloxolone as a $40-$50 per share opportunity for the company and moved his valuation to a 90% probability of success. This means Reata is now worth $241 per share, says the analyst.
AGFS AgroFresh Solutions
$2.39

0.125 (5.53%)

06/17/19
NATL
06/17/19
INITIATION
Target $5.5
NATL
Buy
AgroFresh Solutions initiated with a Buy at National Securities
National Securities analyst Ben Klieve started AgroFresh Solutions with a Buy rating and $5.50 price target. The analyst views the stock as "meaningfully undervalued" at current share levels.
05/21/19
ROTH
05/21/19
INITIATION
Target $6
ROTH
Buy
AgroFresh Solutions initiated with a Buy at Roth Capital
Roth Capital analyst Gerry Sweeney started coverage of AgroFresh Solutions with a Buy rating and a $6 price target. The analyst believes the company's intellectual property position is better than investors recognize, allowing for margins to stabilize and cash flow generation for debt repayment or acquisitions to improve its industry positioning. Further, the intellectual property, patent assets and cash flow likely provide options for AgroFresh to refinance its debt without significant dilution, he adds.
04/16/19
HCWC
04/16/19
INITIATION
Target $5
HCWC
Buy
AgroFresh Solutions initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Amit Dayal started AgroFresh Solutions with a Buy rating and $5 price target. AgroFresh is one of the few public pure plays focused on providing solutions that extend the shelf life of fresh produce, thus helping reduce waste, Dayal tells investors in a research note. He believes the company is evolving into a full-service provider for the fresh produce supply chain and that a debt refinancing "should be an important catalyst." The recent pullback makes the stock attractive, says the analyst.
12/12/18
RFLF
12/12/18
INITIATION
Target $6.4
RFLF
Buy
AgroFresh Solutions initiated with a Buy at RF Lafferty
RF Lafferty analyst Roger Duan started AgroFresh Solutions with a Buy rating and $6.40 price target, stating that he is bullish on AgroFresh's flagship 1-MCP category and is seeing early signs of success in several other product categories. Duan said he also thinks recent weakness in the shares provides an attractive entry point.
SEDG SolarEdge
$89.14

0.19 (0.21%)

08/22/19
UBSW
08/22/19
DOWNGRADE
Target $90
UBSW
Neutral
SolarEdge downgraded to Neutral at UBS, price target raised to $90
UBS analyst Jon Windham downgraded SolarEdge to Neutral from Buy following 151% year-to-date share price appreciation compared to 17% for the S&P 500. In a research note to investors, Windham says he expects the second half of 2019 to mark the cycle peak in year-over-year adjusted EBITDA growth and sees SolarEdge growth more in-line with the global solar market in 2020-2021 as share gains slow. The analyst raised his price target to $90 from $73.
09/12/19
ROTH
09/12/19
NO CHANGE
ROTH
Buy
Generac success against Enphase, SolarEdge not guaranteed, says Roth Capital
Roth Capital analyst Philip Shen, in response to a report issued earlier today by Citron Research recommending shorting Enphase Energy (ENPH) and Solaredge Technologies (SEDG), said his quick initial checks with a potential customer, who he identified as "a top 10 U.S. resi installer, called Generac's (GNRC) residential solar solution "expensive and clunky." Entering the market "does not mean the company will succeed," stated Shen, who added that the inverter landscape "is littered with failed efforts and companies that have tried to copy" Enphase and Solaredge. The analyst, who thinks the Generac threat is "likely limited," sees the pullback in the other two stocks as an attractive opportunity to add shares and maintains Buy ratings on both.
10/15/19
JPMS
10/15/19
NO CHANGE
JPMS
JPMorgan remains constructive on Alternative Energy into Q3 results
JPMorgan analyst Paul Coster remains constructive on Alternative Energy fundamentals into the Q3 earnings reports. Stocks in the group have outperformed year-to-date owing to strong global demand, stable selling prices, decent execution, and improved clarity regarding government policy, Coster tells investors in a research note. His top picks into the prints are Overweight-rated First Solar (FSLR), Enphase Energy (ENPH), Hannon Armstrong (HASI), SolarEdge (SEDG), and Sunnova Energy (NOVA).
09/20/19
FBCO
09/20/19
NO CHANGE
Target $80
FBCO
Neutral
SolarEdge price target raised to $80 from $70 at Credit Suisse
Credit Suisse analyst Maheep Mandloi maintained a Neutral rating on SolarEdge and raised his price target to $80 from $70, citing optionality. In a research note to investors, Mandloi says he met with CFO Ronen Faier, who highlighted key growth areas that are expected to drive revenue growth in the long term vs. consensus estimates of $1.4B revenues in 2019, and says the utility scale solar and Kokam opportunities could alone be worth about $40 per share. The analyst says he awaits additional details on product launches and the company's ability to compete against incumbents at an analyst day in November.
TEX Terex
$25.11

0.16 (0.64%)

10/11/19
10/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crowdstrike (CRWD) downgraded to Sell from Neutral at Goldman Sachs with analyst Heather Bellini stating while CrowdStrike is very well positioned in the market for endpoint security, a "blue sky analysis" suggests this is likely priced in at current share levels. 2. Terex (TEX) downgraded to Underweight from Equal Weight at Barclays with analyst Adam Seiden expecting the rental equipment market to move from equilibrium to oversupplied by 2020. 3. Delta Air Lines (DAL) downgraded to Hold from Buy at Argus with analyst John Staszark saying that while Delta is among the best managed airlines, he thinks better returns are available elsewhere, as Delta is facing prospects for rising costs and slowing revenue growth. 4. PG&E (PCG) downgraded to Sell from Neutral at Citi with analyst Praful Mehta seeing a 75% chance of the stock going to zero after Judge Montali terminated PG&E's exclusive right to advance a plan of reorganization. 5. Canopy Growth (CGC) downgraded to Underperform from Hold at Jefferies with analyst Owen Bennett saying despite the recent selloff in shares, Canopy is the most expensive name across the cannabis space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/19
LEHM
10/11/19
DOWNGRADE
Target $20
LEHM
Underweight
Barclays downgrades Terex to Underweight on oversupplied rental market
Barclays analyst Adam Seiden downgraded Terex to Underweight from Equal Weight with a price target of $20, down from $33. The analyst expects the rental equipment market to move from equilibrium to oversupplied by 2020. The gap between rental equipment days on rent and days on supply is growing, Seiden tells investors in a research note. With several key rental customers focused on utilization into the downturn, buying less equipment, or at least not more year-over-year, is highly likely, contends the analyst. Seiden also thinks lower equipment demand is likely to weigh on industry aerials pricing for 2020.
10/11/19
LEHM
10/11/19
DOWNGRADE
Target $20
LEHM
Underweight
Terex downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Adam Seiden downgraded Terex to Underweight from Equal Weight with a $20 price target.
10/15/19
SBSH
10/15/19
DOWNGRADE
Target $24
SBSH
Sell
Terex downgraded to Sell from Neutral at Citi
Citi analyst Timothy Thein Thein downgraded Terex to Sell from Neutral with a price target of $24, down from $27.

TODAY'S FREE FLY STORIES

PTON

Peloton

$24.60

-0.12 (-0.49%)

15:21
11/13/19
11/13
15:21
11/13/19
15:21
Periodicals
Peloton said to plan cheaper treadmill, rowing machine for 2020, Bloomberg says »

Peloton (PTON) is said to…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 14

    Nov

  • 09

    Dec

TNK

Teekay Tankers

$2.02

-0.055 (-2.66%)

15:19
11/13/19
11/13
15:19
11/13/19
15:19
Options
Teekay Tankers options imply 19.5% move in share price post-earnings »

Pre-earnings options…

03/08/13
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03/06/13
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03/06/13
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  • 14

    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
11/13/19
11/13
15:17
11/13/19
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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03/06/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
11/13/19
11/13
15:16
11/13/19
15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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DIS

Disney

$147.12

8.56 (6.18%)

, NFLX

Netflix

$284.22

-7.79 (-2.67%)

15:04
11/13/19
11/13
15:04
11/13/19
15:04
On The Fly
Disney higher as Disney+ streaming service hits 10M subscribers after one day »

On Tuesday morning, The…

DIS

Disney

$147.12

8.56 (6.18%)

NFLX

Netflix

$284.22

-7.79 (-2.67%)

AAPL

Apple

$264.03

2.14 (0.82%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 21

    Nov

  • 09

    Dec

  • 10

    Dec

NTAP

NetApp

$60.15

0.03 (0.05%)

15:04
11/13/19
11/13
15:04
11/13/19
15:04
Options
NetApp options imply 14.0% move in share price post-earnings »

Pre-earnings options…

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03/06/13
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  • 13

    Nov

  • 20

    Nov

  • 12

    Dec

PDLB

PDL Community Bancorp

$13.78

-0.21 (-1.50%)

15:01
11/13/19
11/13
15:01
11/13/19
15:01
Hot Stocks
PDL Community Bancorp to repurchase up to 878,835 shares of common stock »

PDL Community Bancorp…

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CRK

Comstock Resources

$6.86

-0.02 (-0.29%)

, CHK

Chesapeake

$0.70

0.0303 (4.52%)

14:56
11/13/19
11/13
14:56
11/13/19
14:56
Periodicals
Jerry Jones confirms to Bloomberg that Comstock in talks for Chesapeake assets »

Comstock Resources'…

CRK

Comstock Resources

$6.86

-0.02 (-0.29%)

CHK

Chesapeake

$0.70

0.0303 (4.52%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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INST

Instructure

$50.73

2.75 (5.73%)

14:55
11/13/19
11/13
14:55
11/13/19
14:55
Periodicals
Instructure exploring sale following activist pressure, Bloomberg says »

Instructure is weighing…

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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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  • 03

    Dec

  • 09

    Dec

ILMN

Illumina

$297.27

1.39 (0.47%)

14:55
11/13/19
11/13
14:55
11/13/19
14:55
Conference/Events
Illumina participates in a conference call with SVB Leerink »

Conference call with Dr.…

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

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  • 13

    Nov

CSCO

Cisco

$48.52

0.14 (0.29%)

14:49
11/13/19
11/13
14:49
11/13/19
14:49
Options
Cisco options imply 7.1% move in share price post-earnings »

Pre-earnings options…

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

    Nov

  • 09

    Dec

  • 10

    Dec

LPSN

LivePerson

$34.88

-0.29 (-0.82%)

14:48
11/13/19
11/13
14:48
11/13/19
14:48
Conference/Events
LivePerson management to meet with Jefferies »

Meeting to be held in…

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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  • 14

    Nov

  • 10

    Dec

ESTA

Establishment Labs

$23.77

0.17 (0.72%)

14:46
11/13/19
11/13
14:46
11/13/19
14:46
Conference/Events
Establishment Labs management to meet with Jefferies »

Meetings to be held…

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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  • 13

    Nov

  • 14

    Nov

  • 15

    Nov

CLDR

Cloudera

$8.47

-0.195 (-2.25%)

14:45
11/13/19
11/13
14:45
11/13/19
14:45
Options
Cloudera call volume above normal and directionally bullish »

Bullish option flow…

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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  • 09

    Dec

DIS

Disney

$145.75

7.19 (5.19%)

14:41
11/13/19
11/13
14:41
11/13/19
14:41
Recommendations
Disney analyst commentary  »

Disney price target…

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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DIS

Disney

$145.31

6.75 (4.87%)

14:38
11/13/19
11/13
14:38
11/13/19
14:38
Hot Stocks
Disney confirms 10M sign-ups for Disney+ since yesterday's launch »

Disney+, the streaming…

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03/06/13
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14:35
11/13/19
11/13
14:35
11/13/19
14:35
General news
Fedspeak continues Thursday, headlined by Chair Powell »

Fedspeak continues…

LANC

Lancaster Colony

$154.41

0.11 (0.07%)

14:33
11/13/19
11/13
14:33
11/13/19
14:33
Hot Stocks
Lancaster Colony reelects three incumbent directors and elects one new director »

Lancaster Colony…

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03/06/13
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  • 13

    Nov

LANC

Lancaster Colony

$154.13

-0.17 (-0.11%)

14:31
11/13/19
11/13
14:31
11/13/19
14:31
Hot Stocks
Lancaster Colony raises dividend to 70c from 65c per share »

Lancaster Colony…

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03/06/13
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  • 13

    Nov

AXAS

Abraxas Petroleum

$0.29

-0.027 (-8.57%)

14:26
11/13/19
11/13
14:26
11/13/19
14:26
Hot Stocks
Abraxas Petroleum says final decision on 2020 capital budget to be made later »

Abraxas management and…

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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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AXAS

Abraxas Petroleum

$0.29

-0.027 (-8.57%)

14:26
11/13/19
11/13
14:26
11/13/19
14:26
Earnings
Abraxas reports Q3 adjusted EPS 2c, consensus 3c »

Reports Q3 revenue…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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DBX

Dropbox

$19.14

0.24 (1.27%)

14:25
11/13/19
11/13
14:25
11/13/19
14:25
Options
Dropbox call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 19

    Nov

  • 21

    Nov

EBS

Emergent BioSolutions

$55.00

-0.31 (-0.56%)

14:25
11/13/19
11/13
14:25
11/13/19
14:25
Conference/Events
Emergent BioSolutions participates in a conference call with JPMorgan »

SMid Biotech Analyst Fye…

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

    Nov

  • 21

    Nov

TTWO

Take-Two

$119.84

0.84 (0.71%)

, NVDA

Nvidia

$206.44

-3.11 (-1.48%)

14:20
11/13/19
11/13
14:20
11/13/19
14:20
Hot Stocks
Rockstar says 'Red Dead 2' PC stuttering due to issues with Nvidia drivers, GPUs »

Take-Two's (TTWO)…

TTWO

Take-Two

$119.84

0.84 (0.71%)

NVDA

Nvidia

$206.44

-3.11 (-1.48%)

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

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  • 13

    Nov

  • 14

    Nov

  • 20

    Nov

  • 21

    Nov

  • 06

    Jan

I

Intelsat

$14.71

-5.68 (-27.86%)

14:20
11/13/19
11/13
14:20
11/13/19
14:20
Recommendations
Intelsat analyst commentary  »

Intelsat selloff appears…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 10

    Dec

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