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M

Macy's

$15.78

-0.01 (-0.06%)

, LB

L Brands

$18.10

0.3 (1.69%)

07:36
10/18/19
10/18
07:36
10/18/19
07:36

Macy's SSS for Q3 likely running below Street estimates, says Credit Suisse

Credit Suisse analyst Michael Binetti downgraded Macy's (M) to Underperform from Neutral with a price target of $12, down from $19. In a research note to investors, Binetti says he thinks structural challenges are poised to accelerate in 2020 and thinks consensus estimates for 2020 are likely to be revised significantly lower. Binetti adds that same-store sales trends for Q3 are likely running below Street estimates and guidance to a big Q4 SSS inflection is "tough to embrace" without downside gross margin risk. Binetti also downgraded L Brands (LB) and Gap (GPS).

M

Macy's

$15.78

-0.01 (-0.06%)

LB

L Brands

$18.10

0.3 (1.69%)

GPS

Gap

$17.58

0.04 (0.23%)

  • 21

    Nov

  • 21

    Nov

  • 21

    Nov

M Macy's
$15.78

-0.01 (-0.06%)

08/23/19
GUGG
08/23/19
DOWNGRADE
GUGG
Neutral
Macy's downgraded to Neutral from Buy at Guggenheim
08/23/19
08/23/19
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 In Line at Evercore ISI. 2. Macy's (M) downgraded to Neutral from Buy at Guggenheim. 3. L Brands (LB) downgraded to Sector Perform from Outperform at RBC Capital with analyst Kate Fitzsimons saying she thinks Victoria's Secret product and marketing efforts into second half 2019 will take longer tin inflect the business than outlined by management's 2019 outlook. 4. Triumph Group (TGI) downgraded to Underweight from Equal Weight at Barclays with analyst David Strauss saying he doesn't foresee meaningful free cash flow over the next several years, estimating annual free cash flow well below $100M through FY22. 5. Pool Corp. (POOL) downgraded to Neutral from Buy at Sidoti with analyst Anthony Lebiedzinski saying he sees limited upside to his $215 price target following the stock's 30% advance over the past 12 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/04/19
BOFA
09/04/19
DOWNGRADE
Target $21
BOFA
Neutral
BofA/Merrill downgrades G-III Apparel, says pricing won't offset tariffs
BofA/Merrill analyst Heather Balsky downgraded G-III Apparel (GIII) to Neutral from Buy and lowered her price target for the shares to $21 from $35. Because of tariffs, the company will no longer be able to grow earnings in 2020, Balsky tells investors in a research note. The analyst previously thought G-IIII would be able to offset a large part of the trade impact with higher prices. However, Q2 commentary from its largest retailer Macy's (M) and its largest licensor PVH (PVH) signals that U.S. price increases will be very difficult to pass through in the slowing apparel retail environment, says the analyst.
10/18/19
FBCO
10/18/19
DOWNGRADE
Target $12
FBCO
Underperform
Macy's downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Michael Binetti downgraded Macy's to Underperform from Neutral with a price target of $12, down from $19.
LB L Brands
$18.10

0.3 (1.69%)

10/18/19
FBCO
10/18/19
DOWNGRADE
Target $14
FBCO
Underperform
L Brands downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Michael Binetti downgraded L Brands to Underperform from Neutral with a price target of $14, down from $22.
10/10/19
JEFF
10/10/19
NO CHANGE
JEFF
Underperform
Jefferies says EVP exit a sign Victoria Secret turnaround not gaining traction
Jefferies analyst Randal Konik called news of the reported departure of Victoria Secret's EVP of Stores and Store Operations "another signal that the company's turnaround strategy is failing to gain traction." Given the elevated promotions he has highlighted in prior notes to investors, Konik said he doesn't find it "overly surprising" that key executives may be looking to leave. The analyst, who thinks the Victoria Secret segment will begin to lose money by the second half of 2020, reiterates his Underperform rating on shares of parent L Brands.
09/25/19
DADA
09/25/19
NO CHANGE
Target $20
DADA
Neutral
L Brands's Victoria's Secret division facing headwinds, says DA Davidson
DA Davidson analyst John Morris keeps his Neutral rating and $20 price target on L Brands, saying the company's Victoria's Secret division continues to face headwinds. The analyst notes that the management's initiatives to regain momentum for the Victoria's Secret division is still a "work-in-progress" and believes that its previous messaging and assortments did not resonate with the consumer. Morris adds that his conference call yesterday reinforced his view that Victoria's Secret turnaround is pushed out to 2020.
09/23/19
JEFF
09/23/19
NO CHANGE
Target $14
JEFF
Underperform
Jefferies reiterates call to sell L Brands on Victoria's Secret free panty promo
Victoria's Secret stores are hurting for traffic and resorting to "free stuff" to try to stimulate traffic, Jefferies analyst Randal Konik tell investors in a research note. Over the past decade promotional panty prices have "collapsed" from an on promo peak of $5 to now free, says the analyst. He believes Victoria's Secret's strategy of using panties as a promo tool to try to drive traffic and get customers to purchase bras clearly isn't working as today's offer is for a free panty with no purchase necessary. Also concerning is the offer is for Angel members, which are in theory supposed to be the most loyal, says Konik. The analyst tells investors to sell Victoria's Secret parent L Brands. He keeps an Underperform rating on the name with a $14 price target.
GPS Gap
$17.58

0.04 (0.23%)

10/01/19
BOFA
10/01/19
NO CHANGE
BOFA
Top 10 US Ideas for Q4 at BofA/Merrill
BofA/Merrill introduced the Top 10 US Ideas for Q4 2019. The list's seven Buys are Aramark (ARMK), Salesforce (CRM), Disney (DIS), Dover (DOV), New York Community Bancorp (NYCB), Raytheon (RTN), and Target (TGT). Underperform's are Floor & Decor (FND), Gap (GPS), and Terex (TEX).
09/25/19
RBCM
09/25/19
NO CHANGE
Target $19
RBCM
Sector Perform
Gap price target lowered to $19 from $20 at RBC Capital
RBC Capital analyst Kate Fitzsimmons nudged her price target on Gap lower to $19 and kept her Sector Perform rating after meeting with the company's Investor Relations executives following its Analyst Day. The analyst notes that the management continues to focus on executing its Old Navy spin, but warns that investors are unlikely to give the stock much credit because of the negative Old Navy comps and the "skepticism" about the trajectories of the two businesses. Fitzsimmons adds that her neutral stance is driven by the lack of visibility on the sales and margin inflection at the Gap Brand, with the turnaround expected to "take some time".
09/23/19
SPIN
09/23/19
INITIATION
Target $23
SPIN
Buy
Gap initiated with a Buy at Spin-Off Research
Spin-Off Research started Gap with a Buy rating and $23 price target.
10/18/19
FBCO
10/18/19
DOWNGRADE
Target $14
FBCO
Underperform
Gap downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Michael Binetti downgraded Gap to Underperform from Neutral with a price target of $14, down from $20.

TODAY'S FREE FLY STORIES

01:55
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General news
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BILL

Bill.com

$0.00

(0.00%)

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FTSV

Forty Seven

$36.00

1.4 (4.05%)

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NCR

NCR Corp.

$32.60

0.16 (0.49%)

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CIEN

Ciena

$35.45

0.75 (2.16%)

, LOVE

Lovesac

$14.49

0.05 (0.35%)

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Earnings
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Ciena

$35.45

0.75 (2.16%)

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Lovesac

$14.49

0.05 (0.35%)

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Veru

$2.47

0.17 (7.39%)

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CHEF

Chefs' Warehouse

$35.51

-0.06 (-0.17%)

20:24
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Initiation
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HSBC

HSBC

$37.15

0.44 (1.20%)

20:13
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20:13
Upgrade
HSBC rating change at BofA/Merrill »

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PLCE

Children's Place

$54.36

-16.31 (-23.08%)

19:54
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19:54
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19:54
Downgrade
Children's Place rating change at Wedbush »

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  • 11

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LVGO

Livongo Health

$27.55

1.48 (5.68%)

19:43
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Syndicate
Livongo Health 2.78M share Secondary priced at $27.00 »

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  • 12

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CVX

Chevron

$116.22

-1.68 (-1.42%)

19:42
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12/11
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19:42
Periodicals
Chevron said to be close to approving Gulf of Mexico project, Bloomberg says »

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RH

RH

$233.00

0.03 (0.01%)

19:27
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Hot Stocks
RH CEO sold 500,000 common shares of company from Dec 9 through Dec 11 »

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CRWD

Crowdstrike

$47.74

0.18 (0.38%)

19:17
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Hot Stocks
Crowdstrike CFO sells 215K shares of common stock »

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  • 12

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GLD

SPDR Gold Shares

$138.94

0.98 (0.71%)

19:00
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Hot Stocks
SPDR Gold Shares holdings rise to 886.22MT from 885.93MT »

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DIS

Disney

$147.70

1.58 (1.08%)

, GOOG

Alphabet

$1,345.14

0.64 (0.05%)

18:59
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18:59
Periodicals
Disney Plus was Google's most searched term in U.S. this year, TechCrunch says »

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DIS

Disney

$147.70

1.58 (1.08%)

GOOG

Alphabet

$1,345.14

0.64 (0.05%)

GOOGL

Alphabet Class A

$1,344.65

1.61 (0.12%)

AAPL

Apple

$270.71

2.09 (0.78%)

T

AT&T

$38.17

0.1 (0.26%)

NFLX

Netflix

$299.25

6.04 (2.06%)

03/08/13
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  • 11

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DLHC

DLH Holdings

$4.58

0.525 (12.96%)

, FORM

FormFactor

$23.77

0.57 (2.46%)

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DLH Holdings

$4.58

0.525 (12.96%)

FORM

FormFactor

$23.77

0.57 (2.46%)

LULU

Lululemon

$233.31

3.75 (1.63%)

NX

Quanex

$19.72

0.68 (3.57%)

TLRD

Tailored Brands

$4.85

-0.42 (-7.97%)

NDSN

Nordson

$167.44

1.69 (1.02%)

MESA

Mesa Air

$9.25

0.17 (1.87%)

OXM

Oxford Industries

$74.07

-1.89 (-2.49%)

AKTS

Akoustis

$7.60

0.11 (1.47%)

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TTD

Trade Desk

$250.44

0.13 (0.05%)

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RACE

Ferrari

$165.20

0.37 (0.22%)

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RIBT

RiceBran

$2.09

-0.105 (-4.79%)

18:43
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Syndicate
RiceBran offers to sell common stock, no amount given »

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VMW

VMware

$151.00

2.27 (1.53%)

, TSLA

Tesla

$352.40

3.58 (1.03%)

18:42
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VMW

VMware

$151.00

2.27 (1.53%)

TSLA

Tesla

$352.40

3.58 (1.03%)

DELL

Dell Technologies

$47.73

0.37 (0.78%)

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SMTC

Semtech

$47.36

0.48 (1.02%)

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Hot Stocks
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  • 07

    Jan

CS

Credit Suisse

$12.95

-0.115 (-0.88%)

18:29
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Periodicals
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  • 11

    Dec

PANW

Palo Alto Networks

$226.76

1.71 (0.76%)

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  • 08

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PBYI

Puma Biotechnology

$8.71

0.24 (2.83%)

18:08
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GTHX

G1 Therapeutics

$23.06

-0.18 (-0.77%)

18:05
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NH

NantHealth

$0.86

-0.0225 (-2.54%)

18:01
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