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WEN

Wendy's

$20.88

-0.27 (-1.28%)

, GRUB

GrubHub

$56.49

2.06 (3.78%)

14:58
10/15/19
10/15
14:58
10/15/19
14:58

Wendy's may add Uber Eats, GrubHub as delivery partners by year-end, Yahoo says

Wendy's (WEN) currently has an exclusive delivery service deal with DoorDash, but Wendy's CEO Todd Penegor tells Yahoo Finance that the company is looking at bringing in Uber Eats (UBER) and GrubHub (GRUB) as delivery partners before year-end now that its technology systems have been updated, reported Brian Sozzi. Reference Link

WEN

Wendy's

$20.88

-0.27 (-1.28%)

GRUB

GrubHub

$56.49

2.06 (3.78%)

UBER

Uber

$32.01

0.905 (2.91%)

  • 16

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    Nov

WEN Wendy's
$20.88

-0.27 (-1.28%)

10/14/19
RHCO
10/14/19
NO CHANGE
Target $26
RHCO
Buy
Wendy's price target raised to $26 from $24 at SunTrust
SunTrust analyst Jake Bartlett raised his price target on Wendy's to $26 and kept his Buy rating after its Investor Day presentation outlining its plans to launch breakfast items, grow its digital sales, and accelerate its international development. The analyst notes that while the breakfast entry and international expansion efforts are difficult to implement, the details offered by the management give him greater confidence in Wendy's growth prospects. Bartlett is lowering his FY19 EPS view by 2c to 55c to reflect the investment cost impact of the initiatives, but sees the company's long-term guidance as strong.
10/11/19
10/11/19
NO CHANGE

Stepehens boosts Wendy's target to $24, says outlook 'better than feared'
Stephens analyst Will Slabaugh maintained an Overweight rating on Wendy's and raised his price target on shares to $24 from $22 following the company's Investor Day presentation. The analyst believes that Wendy's breakfast rollout will be break-even, and called the stock attractive as he sees a mid-single-digit comp trajectory as breakfast is rolled out, which should offset the near-term free cash flow pressure. Additionally, he sees momentum in Wendy's core business and believes the company's guidance for FY20 is "better than feared," especially considering the investments currently being made in breakfast.
10/07/19
COWN
10/07/19
DOWNGRADE
Target $20
COWN
Market Perform
Wendy's downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Andrew Charles downgraded Wendy's to Market Perform from Outperform. The analyst said the company's decision to shift its focus from recovery to breakfast roll-out does not create a long-term competitive advantage as other companies have underperformed at Breakfast. The analyst lowered his price target to $20 from $22 on Wendy's shares.
10/07/19
10/07/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Entegris (ENTG) downgraded to Hold from Buy at Deutsche Bank with analyst Sidney Ho saying the company's financial performance has done well in 2019 despite the semicap equipment market reeling from a sharp decline in memory spending. 2. Wendy's (WEN) downgraded to Market Perform from Outperform at Cowen with analyst Andrew Charles saying the company's decision to shift its focus from recovery to breakfast roll-out does not create a long-term competitive advantage as other companies have underperformed at Breakfast. 3. Carnival (CCL) downgraded to Hold from Buy at HSBC with analyst Ali Naqvi saying he reduced his target multiple for the shares to 10-times from 15-times to reflect Carnival's lower yield growth outlook, weak booking commentary and increasing capacity growth relative to peers. 4. HP Inc. (HPQ) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing its Analyst Day presentation, FY20 guidance, and announced job cuts, noting that the company's most profitable print & imaging business continues to struggle. 5. Ingersoll-Rand (IR) downgraded to Equal Weight from Overweight at Stephens with analyst Rob McCarthy saying he sees incremental concern for growth and sustainability of the HVAC cycle, and lowered his price target on the stock to $122, down from $124. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GRUB GrubHub
$56.49

2.06 (3.78%)

10/09/19
ARGS
10/09/19
DOWNGRADE
ARGS
Domino's Pizza cut to Hold at Argus after Q3 miss, new medium term outlook
As previously reported, Argus analyst John Staszak downgraded Domino's Pizza to Hold from Buy after its worse than expected Q3 revenue and earnings reported yesterday along with its new 2-3 year outlook of global retail sales growth of 7%-10% - down from its prior 3-5 year outlook of 8%-12% growth. The analyst is also lowering his FY19 EPS view by 5c to $9.35 and his FY20 view by 10c to $10.90. Staszak notes that food delivery competition from 3rd party services like DoorDash, GrubHub (GRUB), and Uber Eats (UBER) will reduce the same-store sales growth at Domino's Pizza going forward while also reducing the delivery labor supply and raising wage costs for the company. The analyst adds that at 27.1-times his expected FY19 earnings, Domino's Pizza shares "adequately reflect" the prospects for rising costs and slowing same-store sales growth.
09/26/19
GUGG
09/26/19
NO CHANGE
Target $72
GUGG
Buy
GrubHub removed from Best Ideas List, price target lowered at Guggenheim
Guggenheim analyst Matthew DiFrisco said a key take-away from the firm's Restaurant Summit was that the universe of delivery partners vying for near-term market share and long-term profit capture continues to be "dynamic and not shrinking," which leads him to conclude that investor concerns relative to the rate of growth and profitability the GrubHub model can support won't soon abate. Given the "steadfast growth" of multiple competitors, he now sees limited opportunity for multiple expansion at GrubHub, leading DiFrisco to lower his price target on the shares to $72 from $110 and remove his Best Idea designation from the stock. However, DiFrisco keeps a Buy rating on GrubHub 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.
09/16/19
SPHN
09/16/19
NO CHANGE
Target $14
SPHN
Overweight
Stephens switches 'Best Idea in Restaurants' to Carrols from GrubHub
Stephens analyst Will Slabaugh changed his "Best Idea in Restaurants" to Carrols Restaurant (TAST) from GrubHub (GRUB), noting that he sees clear catalysts for the former. Those include expectations for same-store sales improvement at Burger King, ramping profitability, and a bump from a very strong Popeye's business. He maintains an Overweight rating and $14 price target on Carrols shares.
UBER Uber
$32.01

0.905 (2.91%)

10/10/19
BOFA
10/10/19
NO CHANGE
Target $53
BOFA
Buy
James River cancellation negative for Uber 'on the surface,' says BofA/Merrill
BofA/Merrill analyst Justin Post says James River Group (JRVR) ending early its insurance policies issued to Rasier LLC, a subsidiary of Uber Technologies (UBER), is a negative for Uber "on the surface." James River insures Uber drivers in 20 states and was the smallest of the four insurers that Uber works with in the U.S., Post tells investors in a research note. The news is a negative given the potential that the underwriting costs of Uber's business are proving to be higher than expected, says Post. However, the analyst does not anticipate a material change in Uber's insurance costs. Uber's business will likely switch to one of its other carriers, Farmers, Progressive (PGR) or Allstate (ALL), according to Post. Those three insurers are likely increasing their interest in and exposure to ridesharing and gig-economy insurance, increasingly competing for business, says Post, who thinks this could maintain or decrease gig-economy and rideshare insurance premiums over time. The analyst keeps a Buy rating on Uber with a $53 price target.
10/10/19
NEED
10/10/19
NO CHANGE
Target $50
NEED
Buy
Uber price target lowered to $50 from $52 at Needham
Needham analyst Brad Erickson lowered his price target for Uber to $50 from $52, but tells investors in a research note that he is "no less positive" on his time acquisition thesis longer-term and $130 bull case. While he suspects near-term deceleration makes near-term stock appreciation challenging, heading towards bookings re-acceleration in 2020, Erickson says the bear case gets pretty thin with valuation already attractive. The analyst maintains a Buy rating.
10/09/19
RILY
10/09/19
DOWNGRADE
Target $40
RILY
Sell
B. Riley FBR downgrades James River Group to Sell on Uber termination
James River Group Holdings (JRVR) disclosed last night that it plans to cancel all policies issued to its largest customer, Uber (UBER) commercial auto business Raiser LLC, effective December 31, 2019, due to unfavorable loss experience, B. Riley FBR analyst Randy Binner tells investors in a research note. While the reserve charge is manageable, concern around reserve adequacy is likely to remain an overhang on James River shares given the termination of the Uber relationship, a "significant move," says Binner. The analyst believes James River shares "will re-rate to a lower multiple to book value." He downgraded the stock to Sell from Neutral and cut his price target for the shares to $40 from $45.

TODAY'S FREE FLY STORIES

VER

Vereit

$9.64

0.06 (0.63%)

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CPE

Callon Petroleum

$3.94

-0.43 (-9.84%)

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Breaking Hot Stocks news story on Callon Petroleum »

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AAPL

Apple

$267.03

1.3 (0.49%)

17:23
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Periodicals
Apple announces December 2nd press event for apps and games, CNBC says »

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NVTA

Invitae

$18.25

-0.475 (-2.54%)

17:20
11/18/19
11/18
17:20
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17:20
Syndicate
Breaking Syndicate news story on Invitae »

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PEP

PepsiCo

$133.99

0.15 (0.11%)

17:20
11/18/19
11/18
17:20
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17:20
Syndicate
Breaking Syndicate news story on PepsiCo »

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  • 13

    Feb

TMO

Thermo Fisher

$300.37

-6.25 (-2.04%)

, CELG

Celgene

$109.34

-0.68 (-0.62%)

17:18
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11/18
17:18
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Hot Stocks
Breaking Hot Stocks news story on Thermo Fisher, Celgene »

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TMO

Thermo Fisher

$300.37

-6.25 (-2.04%)

CELG

Celgene

$109.34

-0.68 (-0.62%)

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  • 02

    Dec

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    Dec

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    Mar

  • 04

    Apr

NOW

ServiceNow

$266.56

6.65 (2.56%)

, CELG

Celgene

$109.34

-0.68 (-0.62%)

17:17
11/18/19
11/18
17:17
11/18/19
17:17
Hot Stocks
ServiceNow to replace Celgene in S&P 500 at open on 11/21 »

Bristol-Myers Squibb…

NOW

ServiceNow

$266.56

6.65 (2.56%)

CELG

Celgene

$109.34

-0.68 (-0.62%)

BMY

Bristol-Myers

$57.62

-0.99 (-1.69%)

03/08/13
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KRNT

Kornit Digital

$33.07

-1.13 (-3.30%)

17:14
11/18/19
11/18
17:14
11/18/19
17:14
Hot Stocks
Kornit Digital says Q3 was a record quarter for industrial system sales »

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  • 18

    Nov

CRMT

America's Car-Mart

$90.88

3.22 (3.67%)

17:10
11/18/19
11/18
17:10
11/18/19
17:10
Earnings
America's Car-Mart reports Q2 EPS $2.00, consensus $1.81 »

Reports Q2 revenue $190M,…

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  • 19

    Nov

ASH

Ashland

$78.65

0.03 (0.04%)

17:05
11/18/19
11/18
17:05
11/18/19
17:05
Hot Stocks
Breaking Hot Stocks news story on Ashland »

Ashland down 6.5% to…

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  • 19

    Nov

ZTO

ZTO Express

$22.45

0.1 (0.45%)

17:03
11/18/19
11/18
17:03
11/18/19
17:03
Hot Stocks
ZTO Express backs FY19 parcel volume growth view of 35%-40% »

The company makes no…

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  • 18

    Nov

CNOB

ConnectOne Bancorp

$25.02

-0.2 (-0.79%)

17:03
11/18/19
11/18
17:03
11/18/19
17:03
Hot Stocks
ConnectOne Bancorp receives regulatory approvals for Bancorp of NJ deal »

ConnectOne Bancorp…

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DUK

Duke Energy

$88.63

0.05 (0.06%)

17:03
11/18/19
11/18
17:03
11/18/19
17:03
Syndicate
Duke Energy 25M share Spot Secondary; price range $86.45-$87.30 »

JPMorgan, Goldman Sachs,…

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  • 18

    Nov

ZTO

ZTO Express

$22.45

0.1 (0.45%)

17:02
11/18/19
11/18
17:02
11/18/19
17:02
Hot Stocks
ZTO Express reports parcel volume growth of 45.9% »

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  • 18

    Nov

KRNT

Kornit Digital

$33.07

-1.13 (-3.30%)

17:02
11/18/19
11/18
17:02
11/18/19
17:02
Earnings
Kornit Digital sees Q4 revenue $46.5M-$50.5M, consensus $49.35M »

Sees Q4 non-GAAP…

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  • 18

    Nov

ZTO

ZTO Express

$22.45

0.1 (0.45%)

17:01
11/18/19
11/18
17:01
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17:01
Earnings
ZTO Express reports Q3 adjusted EPS 24c, consensus 22c »

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  • 18

    Nov

CVEO

Civeo

$0.82

-0.0735 (-8.26%)

17:01
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Hot Stocks
Civeo names Carolyn Stone as new CFO »

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UBER

Uber

$26.76

-0.04 (-0.15%)

, GOOG

Alphabet

$1,318.45

-15.56 (-1.17%)

17:00
11/18/19
11/18
17:00
11/18/19
17:00
Periodicals
Uber's chief product officer Manik Gupta is leaving the company, TechCrunch says »

According to a story from…

UBER

Uber

$26.76

-0.04 (-0.15%)

GOOG

Alphabet

$1,318.45

-15.56 (-1.17%)

03/08/13
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03/06/13
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03/06/13
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  • 19

    Nov

  • 21

    Nov

  • 04

    Dec

FFG

FBL Financial

$57.73

-0.27 (-0.47%)

16:59
11/18/19
11/18
16:59
11/18/19
16:59
Hot Stocks
FBL Financial names Daniel Pitcher as CEO, succeeding Jim Brannen »

The Board of Directors of…

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CHEF

Chefs' Warehouse

$35.57

0.52 (1.48%)

16:55
11/18/19
11/18
16:55
11/18/19
16:55
Syndicate
Breaking Syndicate news story on Chefs' Warehouse »

Chefs' Warehouse…

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  • 12

    Dec

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    Dec

PCG

PG&E

$7.09

-0.32 (-4.32%)

16:50
11/18/19
11/18
16:50
11/18/19
16:50
Periodicals
PG&E wants federal judge to estimate wildfire claims, WSJ says »

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  • 07

    Jan

GCP

GCP Applied Technologies

$22.04

-0.37 (-1.65%)

16:48
11/18/19
11/18
16:48
11/18/19
16:48
Hot Stocks
GCP Applied Technologies files patent infringement suit against AVM Industries »

GCP Applied Technologies…

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DUK

Duke Energy

$88.63

0.05 (0.06%)

16:45
11/18/19
11/18
16:45
11/18/19
16:45
Syndicate
Duke Energy files to sell 25M shares of common stock »

Duke Energy announced…

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PANW

Palo Alto Networks

$248.50

1.465 (0.59%)

16:45
11/18/19
11/18
16:45
11/18/19
16:45
Initiation
Palo Alto Networks initiated  »

Palo Alto Networks…

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  • 25

    Nov

  • 09

    Dec

TUFN

Tufin

$17.32

-0.22 (-1.25%)

16:44
11/18/19
11/18
16:44
11/18/19
16:44
Initiation
Tufin initiated  »

Tufin initiated with a…

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