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AXP

American Express

$119.17

1.76 (1.50%)

, KO

Coca-Cola

$53.80

0.31 (0.58%)

09:09
10/18/19
10/18
09:09
10/18/19
09:09

Fly Intel: Pre-market Movers

UP AFTER EARNINGS: Coca-Cola (KO), up 2%... Intuitive Surgery (ISRG), up 3%... Synchrony (SYF), up 2%... Schlumberger (SLB), up 1%... American Express (AXP), up 1%... State Street (STT), up 3%...Kansas City Southern (KSU), up 3%. ALSO HIGHER: Snap (SNAP), up 3% after BofA Merrill Lynch analyst Justin Post upgraded the stock to Buy from Neutral with an $18 price target. The stock has sold off despite "solid" industry and advertising spend channel checks, Post tells investors. DOWN AFTER EARNINGS: Sensient (SXT), down 2%... Gentex (GNTX), down 2%. ALSO LOWER: CSX (CSX), down 1% after announcing its intention to purchase approximately 4.7M shares from Mantle Ridge amid Mantle Ridge's sale of an additional approximately 18.8M shares into the market.... Macy's (M), down 4% after Credit Suisse analyst Michael Binetti downgraded the stock to Underperform from Neutral with a price target of $12, down from $19... L Brands (LB), down 6% after Credit Suisse's Binetti downgraded shares to Underperform from Neutral with a price target of $14, down from $22... Gap (GPS), down 6% after Credit Suisse's Binetti downgraded the stock to Underperform from Neutral with a price target of $14, down from $20.

AXP

American Express

$119.17

1.76 (1.50%)

KO

Coca-Cola

$53.80

0.31 (0.58%)

SNAP

Snap

$13.78

0.11 (0.80%)

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%)

SYF

Synchrony

$33.97

0.48 (1.43%)

SLB

Schlumberger

$31.90

-0.06 (-0.19%)

ISRG

Intuitive Surgical

$529.22

-1.25 (-0.24%)

STT

State Street

$59.71

0.57 (0.96%)

CSX

CSX

$69.78

0.79 (1.15%)

SXT

Sensient

$66.57

0.4 (0.60%)

GNTX

Gentex

$27.57

-0.01 (-0.04%)

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AXP American Express
$119.17

1.76 (1.50%)

07/22/19
RBCM
07/22/19
NO CHANGE
Target $125
RBCM
Sector Perform
American Express price target raised to $125 from $120 at RBC Capital
RBC Capital analyst Jon Arfstrom raised his price target on American Express to $125 after its Q2 earnings beat, saying the quarter benefited from a lower than expected loan loss provision and seasonally stronger billings and loan growth. The analyst further notes that the company's credit trends were stable and fundamentals remain solid. Arfstrom keeps his Sector Perform rating, adding that the stock may be an attractive long-term holding for investors seeking a high quality core holding, but his near-term neutral view balances the positive outlook with a premium valuation.
07/22/19
BMOC
07/22/19
NO CHANGE
Target $119
BMOC
Market Perform
American Express price target raised to $119 from $114 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on American Express to $119 and kept his Market Perform rating after its Q2 results that showed lower credit and operating costs being offset by lower net interest margins and volumes. The analyst believes that the company's earnings growth will remain pressured by falling merchant discount rates and rising customer engagement costs, having "stalled" at about about 10%-11%.
07/10/19
WELS
07/10/19
NO CHANGE
Target $140
WELS
Outperform
American Express price target raised to $140 from $135 at Wells Fargo
Wells Fargo analyst Donald Fandetti raised his price target for American Express to $140 from $135 ahead of quarterly results as he expects "meet and beats" into earnings from the card networks and issuers, as the U.S. consumer data points he tracks are holding up well. The analyst reiterates an Outperform rating on the shares.
09/17/19
MSCO
09/17/19
NO CHANGE
Target $142
MSCO
Overweight
Morgan Stanley says American Express dip an overreaction to monthly credit stats
Morgan Stanley analyst Betsy Graseck noted that American Express shares dipped a bit over 1% on Monday, which she said was due to an "overreaction" to the August master trust data that showed a slight uptick in charge-offs and a continued deceleration in loan growth. Her model changes prompted Graseck to lower her Q3 EPS forecast by 1c to $2.05, which she noted is still slightly above consensus. Graseck has an Overweight rating and $142 price target on AmEx shares.
KO Coca-Cola
$53.80

0.31 (0.58%)

07/29/19
07/29/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Domino's Pizza (DPZ) initiated with a Sell at Deutsche Bank and a Neutral at Goldman Sachs. 2. Oaktree Specialty Lending (OCSL) initiated with a Neutral at Janney Montgomery Scott. 3. Chipotle (CMG) initiated with a Conviction Buy at Goldman Sachs, while McDonald's (MCD), Starbucks (SBUX), and Shake Shack (SHAK) were initiated with a Buy, Restaurant Brands (QSR) and Yum! Brands (YUM) were initiated with a Neutral, and Wendy's (WEN) and Jack in the Box (JACK) were initiated with a Sell. 4. PepsiCo (PEP) and Coca-Cola (KO) initiated with an Overweight at Atlantic Equities. 5. Dell Technologies (DELL) initiated with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/05/19
MSCO
08/05/19
NO CHANGE
MSCO
Coca-Cola added to Fresh Money Buy List at Morgan Stanley
Morgan Stanley equity strategist Michael Wilson said he is shifting the firm's "Fresh Money Buy List" to be more defensive by adding Coca-Cola (KO) and removing LyondellBasell (LYB). At Coke, he expects an acceleration in EPS growth driven by stronger pricing power, volume growth and new products, said Wilson. In terms of the broader market, Wilson said new tariffs are not the only thing driving the market lower, pointing to full valuations, corporate profits turning lower and technical resistance as other factors ahead of "heavy Treasury issuance this month" that will add another headwind.
10/02/19
GUGG
10/02/19
DOWNGRADE
Target $60
GUGG
Neutral
Guggenheim downgrades Monster Beverage to Neutral as Coke Energy comes to U.S.
As previously reported, Guggenheim analyst Laurent Grandet downgraded Monster Beverage (MNST) to Neutral from Buy given his view that the stock will be range-bound until the market can better gauge the impact of the upcoming U.S. launch of Coca-Cola (KO) Energy, which is planned for January. In Europe, where Coke has already launched Energy, there are signs of softness for Monster, though there is also broader category slowdown there and the long-term impact is still unknown, added Grandet. He lowered his EPS estimates for Monster for FY19-FY21 and cut his price target on the shares to $60 from $74.
10/02/19
BMOC
10/02/19
NO CHANGE
Target $34
BMOC
Outperform
BMO Capital more optimistic about Keurig Dr Pepper generating merger synergies
BMO Capital analyst Amit Sharma is keeping his Outperform rating and $34 price target on Keurig Dr Pepper (KDP), citing its expected "sector leading" mid-teen earnings growth through 2021 along with his "greater confidence" in post-synergies earnings growth potential in high single digits. The analyst notes that investors are focusing on the company's coffee business while overlooking the "ingrained structural advantages" of its much-larger RTD beverage business, with consensus estimates modeling a "smaller" improvement than the expected North America sales trends at Coca-Cola (KO) and PepsiCo (PEP).
SNAP Snap
$13.78

0.11 (0.80%)

10/17/19
MKMP
10/17/19
INITIATION
Target $16
MKMP
Neutral
Snap initiated with a Neutral at MKM Partners
MKM Partners analyst Rohit Kulkarni initiated coverage of Snap with a Neutral rating and $16 price target.
10/17/19
MKMP
10/17/19
INITIATION
Target $16
MKMP
Neutral
MKM starts Snap at Neutral on lack of 'competitive moat'
MKM Partners analyst Rohit Kulkarni initiated coverage of Snap with a Neutral rating and $16 price target. The company has been executing well over the past 12 months, and has "several near-term incremental catalysts," including benefits from the Android app, premium content partnerships, and a gaming platform launch, Kulkarni tells investors in a research note. The analyst, however, does not believe Snap has a "long-term sustainable competitive moat," given its history of user growth and engagement "lumpiness." The company's competitive headwinds from TikTok and Instagram are rising in the near-term, adds the analyst.
10/18/19
BOFA
10/18/19
UPGRADE
BOFA
Buy
Snap upgraded to Buy from Neutral at BofA/Merrill
10/18/19
BOFA
10/18/19
UPGRADE
Target $18
BOFA
Buy
BofA/Merrill upgrades Snap to Buy with $18 price target
BofA/Merrill analyst Justin Post upgraded Snap to Buy from Neutral with an $18 price target. The stock has sold off despite "solid" industry and advertising spend channel checks, Post tells investors in a research note. In addition, the analyst says the ongoing Discovery content rollout gives him higher conviction on Snap's ability to expand its average revenue per user. He also believes the possibility of a first positive EBITDA quarter in Q4 could change the stock's narrative.
M Macy's
$15.78

-0.01 (-0.06%)

10/18/19
FBCO
10/18/19
DOWNGRADE
Target $12
FBCO
Underperform
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).
10/18/19
FBCO
10/18/19
DOWNGRADE
Target $14
FBCO
Underperform
Gap's Old Navy spinoff to prove 'destructive' to value, says Credit Suisse
Credit Suisse analyst Michael Binetti downgraded Gap to Underperform from Neutral with a price target of $14, down from $20. 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. He believes the pending spinoff of Old Navy will ultimately prove to have been destructive to equity value and has low confidence that the company will be able to achieve the offsets to dis-synergy costs laid out in its recent presentation. The analyst also downgraded L Brands (LB) and Macy's (M).
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.
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 (LB) to Underperform from Neutral with a price target of $14, down from $22. 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. Amid a tougher U.S. backdrop, Binetti sees risk to L Brands' 2H guidance that assumes a fairly quick turn in Victoria's Secret trends. The analyst also downgraded Macy's (M) and Gap (GPS).
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.
GPS Gap
$17.58

0.04 (0.23%)

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.
SYF Synchrony
$33.97

0.48 (1.43%)

08/16/19
DBAB
08/16/19
DOWNGRADE
Target $158
DBAB
Hold
Deutsche Bank downgrades Alliance Data on 'multiple potential headwinds'
Deutsche Bank analyst Ashish Sabadra downgraded Alliance Data Systems (ADS) to Hold from Buy and lowered his price target for the shares to $158 from $162. The analyst sees "multiple potential headwinds" for the company, including the reserve build, winding down portfolio held for sale, and declining interest rates weighing on earnings growth in 2020. The analyst points out that his 2020 earnings estimates are 10% below consensus. Alliance Data could continue to trade at a discount to Synchrony Financial (SYF) given its use of non-GAAP earnings and limited disclosures about consumer credit scores and revenue share, Sabadra tells investors in a research note.
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.
09/11/19
NOMU
09/11/19
NO CHANGE
Target $43
NOMU
Buy
Synchrony price target raised to $43 from $39 at Nomura Instinet
Nomura Instinet analyst Bill Carcache raised his price target for Synchrony Financial to $43 from $39 saying his bullish outlook was reaffirmed in recent meetings with management. The analyst expects Synchrony to continue its upward trajectory through the rest of this year. He keeps a Buy rating on the shares.
08/20/19
RHCO
08/20/19
NO CHANGE
Target $160
RHCO
Buy
Alliance Data price target lowered to $160 from $180 at SunTrust
SunTrust analyst Andrew Jeffrey lowered his price target on Alliance Data (ADS) to $160 citing the risks around its uncertain portfolio composition from "repositioning of the book", rising credit costs in a recession, dilution from the potential Loyalty segment sale, and increased competition. The analyst is keeping his Buy rating on the Alliance Data stock however, saying its valuation is still at a 20% discount relative to its closest competitor Synchrony (SYF) which creates an "attractive" risk-reward.
SLB Schlumberger
$31.90

-0.06 (-0.19%)

09/16/19
SBSH
09/16/19
NO CHANGE
SBSH
Nabors, Schlumberger, Halliburton have material operations in Saudi, says Citi
Following the attacks on Saudi Arabia, Citi analyst Scott Gruber expects "most if not all" of the Upstream Energy complex could see an uplift. However, Nabors Industries (NBR), Schlumberger (SLB), Halliburton (HAL) and Valaris (VAL) have material operations in Saudi and could see activity slow given the magnitude of the outage, Gruber tells investors in a research note.
09/16/19
09/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Raytheon (RTN) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying the stock's outperformance thus far in September is a sign of increasing investor confidence in the outlook for Raytheon and for the United Technologies (UTX) combination, along with some mean reversion. 2. Uber (UBER) and Lyft (LYFT) upgraded to Buy from Hold at HSBC. 3. Schlumberger (SLB) upgraded to Overweight from Equal Weight at Barclays with analyst J. David Anderson saying new CEO Olivier Le Peuch "hit all the right notes" as he repositions the company to succeed in a lower growth environment. 4. RE/MAX Holdings (RMAX) upgraded to Outperform from Market Perform at JMP Securities. 5. Esperion (ESPR) upgraded to Neutral from Sell at Goldman Sachs with analyst Paul Choi saying he now sees less risk of the launch performance of bempedoic acid disappointing over the intermediate term since 2019-2022 consensus revenue estimates have come down "meaningfully." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/16/19
LEHM
09/16/19
UPGRADE
Target $50
LEHM
Overweight
Barclays upgrades Schlumberger after new CEO 'hit all the right notes'
Barclays analyst J. David Anderson upgraded Schlumberger to Overweight from Equal and raised his price target for the shares to $50 from $45. New CEO Olivier Le Peuch "hit all the right notes" as he repositions the company to succeed in a lower growth environment, Anderson tells investors in a research note. The analyst believes Le Peuch addressed the Street's biggest concerns while also providing "bold, yet achievable" financial targets. Anderson thinks long-only investors will start to pay attention after gaining confidence in the new direction of Schlumberger. The company is now best positioned among the Big 3, says the analyst.
09/16/19
LEHM
09/16/19
UPGRADE
Target $50
LEHM
Overweight
Schlumberger upgraded to Overweight from Equal Weight at Barclays
Barclays analyst J. David Anderson upgraded Schlumberger to Overweight from Equal and raised his price target for the shares to $50 from $45.
ISRG Intuitive Surgical
$529.22

-1.25 (-0.24%)

10/18/19
PIPR
10/18/19
NO CHANGE
Target $633
PIPR
Overweight
Intuitive Surgical Q3 'solid' despite light placements, says Piper Jaffray
Intuitive Surgical last night reported "solid" Q3 results with an "exceptional" margin profile and an acceleration in procedure growth at 20%, Piper Jaffray analyst JP McKim tells investors in a research note. However, system placements were a little light and SP commentary was disappointing as the market feedback from physicians is not tracking to the system placements and revenue at this time, adds the analyst. Nonetheless, McKim remains bullish on single port surgery and views it as the future for a lot of cases. He reiterates an Overweight rating on Intuitive Surgical with a $633 price target.
09/25/19
GUGG
09/25/19
NO CHANGE
GUGG
Neutral
Medtronic financial projections for Hugo robot 'underwhelming,' says Guggenheim
After attending Medtronic's (MDT) "much-anticipated" robotic-assisted surgery event, where the company gave a first look at the Hugo RAS system, Guggenheim analyst Chris Pasquale noted that the company gave an update on regulatory timelines and initial revenue targets, though information on pricing and clinical comparability to Intuitive Surgical's (ISRG) da Vinci system were "notably absent." He was impressed by certain design elements, though he thinks management's financial projections for Hugo were "somewhat underwhelming," said Pasquale, who keeps a Neutral rating on Medtronic shares.
09/25/19
PIPR
09/25/19
NO CHANGE
Target $633
PIPR
Overweight
Piper says Intuitive Surgical overhang over after Medtronic unveils Hugo
Medtronic (MDT) yesterday afternoon showcased its long-awaited multi-port surgical robot Hugo, which will compete with Intuitive Surgical's (ISRG) da Vinci, Piper Jaffray analyst Matt O'Brien tells investors in a research note. As expected, Medtronic's robot is a fully modular system with an open console design and 3D vision, says the analyst. He believes Hugo should garner interest from hospitals considering its value proposition. However, Medtronic's system is at least two years out from the U.S., and the company will not be giving the system away for free like some feared, explains O'Brien. Competition has been an overhang for Intuitive for the last several months, says O'Brien, who left yesterday "feeling A LOT better about Intuitive's competitive positioning and long term growth potential." He believes Intuitive Surgical's overhang is over and that the company is likely to remain the market leader. The analyst keeps an Overweight rating on the shares with a $633 price target. O'Brien also has an Overweight rating on Medtronic with a $120 price target.
10/18/19
RAJA
10/18/19
NO CHANGE
Target $615
RAJA
Outperform
Intuitive Surgical price target raised to $615 from $610 at Raymond James
Raymond James analyst Lawrence Keusch raised his price target for Intuitive Surgical to $615 from $610 and maintained an Outperform rating following the company's "strong" Q3 earnings report. In a research note to investors, Keusch says he remains constructive on shares, given a multi-year new product cycle, procedure growth trends remaining intact, and significant balance sheet optionality with a ~$5.4B in net cash position. The analyst says he is a buyer of the stock following the "robust" performance, and says he views near-term competitive concerns as now largely derisked in the mid-term.
STT State Street
$59.71

0.57 (0.96%)

06/26/19
06/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. State Street (STT) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying he has "very little confidence" in when the company will be able to get past the headwinds it is facing. 2. Allergan (AGN) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying she views the AbbVie (ABBV) deal as "a hard-fought and timely exit" for shareholders, citing her concerns about the weakness in Allergan's aesthetics portfolio and the company's growth challenges. 3. Kinder Morgan (KMI) downgraded to Market Perform from Outperform at Raymond James with analyst Justin Jenkins saying shares are up approximately 35% year-to-date and trade at an above-peer multiple despite a mixed outlook for the asset portfolio. 4. Papa John's (PZZA) downgraded to Neutral from Buy at Kalinowski. 5. Illinois Tool Works (ITW) downgraded to Sell from Neutral at Northcoast with the firm's analyst citing concentrated Automotive exposure. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/08/19
MSCO
07/08/19
DOWNGRADE
MSCO
Underweight
State Street downgraded to Underweight from Overweight at Morgan Stanley
Morgan Stanley analyst Betsy Graseck double downgraded State Street to Underweight from Overweight.
07/08/19
MSCO
07/08/19
DOWNGRADE
MSCO
Underweight
Morgan Stanley cuts large cap banks view, double downgrades State Street, BNY
As previously reported, Morgan Stanley analyst Betsy Graseck double downgraded State Street (STT) and BNY Mellon (BK), each to Underweight from Overweight, and downgraded her industry view for large cap banks to In-Line from Attractive. The group is up 23% year-to-date, but the next 6-18 months look tougher as global GDP is slowing, inflation expectations are dimming and the Fed is expected to cut rates in 2019 and 2020, which will make it "much harder for bank stocks to deliver positive surprises in operating leverage," Graseck tells investors. While she is not double downgrading the group to Cautious, because credit remains strong, Graseck sees trust banks as most exposed to the yield curve ahead of what she foresees as "18 months of rate cuts," the analyst added. She lowered her price targets on a number of large cap banks and cut her target on State Street to $55 from $69 while dropping her target for BNY to $41 from $50.
07/08/19
07/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Sell from Neutral at Rosenblatt with analyst Jun Zhang citing his view that its fundamental will deteriorate over the next 6-12 months. 2. Verizon (VZ) downgraded to Neutral from Buy at Citi with analyst Michael Rollins saying rising long-term industry risks and the stock's current valuation premium are likely to limit returns over the next 12-months. 3. F5 Networks (FFIV) downgraded to Sell from Neutral at Goldman Sachs with analyst Rod Hall saying the company's earnings risks are increasing due to the weaker short-term spending environment and increasing competitive threat. 4. BNY Mellon (BK) and State Street (STT) were double downgraded to Underweight from Overweight at Morgan Stanley. 5. American Airlines (AAL) downgraded to Underperform from Neutral at Credit Suisse with analyst Jose Caiado citing labor and Boeing (BA) 737 Max risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CSX CSX
$69.78

0.79 (1.15%)

10/18/19
ARGS
10/18/19
NO CHANGE
Target $82
ARGS
Buy
Recent weakness in CSX offers buying opportunity, says Argus
Argus analyst John Eade is keeping his Buy rating and $82 price target on CSX after its Q3 earnings beat this week. The analyst notes that while the stock has underperformed the market over the past quarter and the past year, the weakness offers a buying opportunity. Eade cites the focus of the new CEO to lower the company's costs to adjust to the challenging current volume trends as well as its commitment to buybacks. The analyst further points to the CSX dividend hikes, which he believes signals its confidence in the company's long-term outlook.
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.
10/04/19
JPMS
10/04/19
DOWNGRADE
Target $76
JPMS
Neutral
CSX downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Brian Ossenbeck downgraded CSX to Neutral from Overweight with a price target of $76, down from $83.
10/04/19
JPMS
10/04/19
NO CHANGE
JPMS
JPMorgan downgrades CSX and Echo Global, upgrades Hub Group
JPMorgan analyst Brian Ossenbeck downgraded both CSX (CSX) and Echo Global (ECHO) to Neutral from Overweight while upgrading Hub Group (HUBG) to Overweight from Neutral. The analyst sees downside risk to 2020 consensus estimates across the Transportation & Logistics sector. However, the truckload carriers should navigate the revisions well as the full truckload rate cycle gains momentum with help from the full implementation of electronic logging devices in mid-December, Ossenbeck tells investors in a research note. His upgrade of Hub Group to Overweight reflects his preference to add full truckload rate exposure at a "reasonable valuation." Further, the company's diverse business model should continue beating expectations in 2020, contends the analyst, who notes that Hub is now his top SMID cap idea. Ossenbeck's downgrade of Echo is based on expectations for continued margin compression in 2020 from its increasing tech investments and narrowing contract/spot spreads. His downgrade of CSX is based on valuation after the company's "tremendous run." The analyst's top rail pick remains Norfolk Southern (NSC).
SXT Sensient
$66.57

0.4 (0.60%)

09/24/19
SIDC
09/24/19
INITIATION
Target $78
SIDC
Neutral
Sensient initiated with a Neutral at Sidoti
Sidoti initiated coverage of Sensient with a Neutral rating and $78 price target.
02/19/19
KEYB
02/19/19
DOWNGRADE
KEYB
Sector Weight
Sensient downgraded to Sector Weight from Overweight at KeyBanc
02/19/19
02/19/19
DOWNGRADE

Sector Weight
Sensient downgraded to Sector Weight at KeyBanc on EPS cut, lack of catalyst
As previously reported, KeyBanc analyst Curtis Siegmeyer downgraded Sensient to Sector Weight from Overweight as the share price is within striking distance of his $65 price target coupled with a lack of catalysts for multiple expansion. The analyst believes the company is facing a number of headwinds in 2019 across both business segments, while a more meaningful margin recovery in its Flavors & Fragrances segment appears unlikely to materialize in 2019.
02/21/19
GHSC
02/21/19
INITIATION
Target $71
GHSC
Buy
Sensient initiated with a Buy at Seaport Global
Seaport Global analyst Brett Hundley initiated Sensient with a $71 price target, stating that he expects solid upside if the company is "able to string together a few positive quarters of execution."
GNTX Gentex
$27.57

-0.01 (-0.04%)

10/15/19
GUGG
10/15/19
INITIATION
Target $29
GUGG
Buy
Gentex initiated with a Buy at Guggenheim
Guggenheim analyst Ali Faghri initiated coverage of Gentex with a Buy rating and $29 price target.
10/16/19
GUGG
10/16/19
INITIATION
GUGG
Guggenheim initiates Auto Suppliers with cautious sector view
Guggenheim analyst Ali Faghri initiated coverage last night on the Auto Suppliers with a cautious sector view. The automotive sector is facing increasing cyclical pressures globally, says Faghri, who forecasts flat to negative global industry production volumes through 2021. This creates a challenging operating environment for auto suppliers, the analyst tells investors in a research note. Faghri believes Europe represents the most significant risk to the group's outlook, pointing out that his work suggests "macro headwinds and disruptive emissions regulations will significantly impact vehicle demand in the region over the next few years." The analyst initiated coverage of Aptiv (APTV) and Gentex (GNTX) with Buy ratings. For Aptiv, he sees high single-digit organic growth through 2022 driven by active safety and electric vehicle content gains. For Gentex, the analyst sees upside to 2019 consensus due to stronger gross margins and visibility for continued above market growth. Faghri rounded out his coverage with Neutral ratings on BorgWarner (BWA), Delphi Technologies (DLPH), Lear (LEA), Visteon (VC) and Veoneer (VNE).
02/05/19
02/05/19
DOWNGRADE

Neutral
Gentex downgraded to Neutral on slowing growth at Longbow
As previously reported, Longbow analyst Anthony Deem downgraded Gentex to Neutral from Buy, citing his view that growth over market is slowing in the near-term and the pressure he expects on gross margins from tariffs and price downs that are not fully offset by lower purchase costs. He also believes new products, such as dimmable glass, are unlikely to be material revenue generators for about 5 years, Deem tells investors.
02/05/19
LBOW
02/05/19
DOWNGRADE
LBOW
Neutral
Gentex downgraded to Neutral from Buy at Longbow
Longbow analyst Anthony Deem downgraded Gentex to Neutral.

TODAY'S FREE FLY STORIES

01:45
11/20/19
11/20
01:45
11/20/19
01:45
General news
Asian Market Update: »

Asian Market Update: JGB…

01:35
11/20/19
11/20
01:35
11/20/19
01:35
General news
Japan exports slumped 9.2% y/y in October, »

Japan exports slumped…

ESYJY

easyJet

$0.00

(0.00%)

20:35
11/19/19
11/19
20:35
11/19/19
20:35
Initiation
easyJet initiated at Goldman Sachs »

easyJet initiated with a…

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MSEX

Middlesex Water

$62.07

1.5 (2.48%)

20:31
11/19/19
11/19
20:31
11/19/19
20:31
Syndicate
Middlesex Water 661K share Spot Secondary priced at $60.50 »

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DLAKY

Lufthansa

$0.00

(0.00%)

20:29
11/19/19
11/19
20:29
11/19/19
20:29
Initiation
Lufthansa initiated at Goldman Sachs »

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03/06/13
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TGT

Target

$110.86

0.27 (0.24%)

, LOW

Lowe's

$113.41

-1.62 (-1.41%)

20:25
11/19/19
11/19
20:25
11/19/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

TGT

Target

$110.86

0.27 (0.24%)

LOW

Lowe's

$113.41

-1.62 (-1.41%)

NTES

NetEase

$288.77

-1.33 (-0.46%)

CPRT

Copart

$86.33

0.32 (0.37%)

LB

L Brands

$17.19

-0.67 (-3.75%)

03/08/13
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ICAGY

IAG

$0.00

(0.00%)

20:23
11/19/19
11/19
20:23
11/19/19
20:23
Initiation
IAG initiated at Goldman Sachs »

IAG initiated with a Buy…

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RYAAY

Ryanair

$86.27

0.52 (0.61%)

20:20
11/19/19
11/19
20:20
11/19/19
20:20
Initiation
Ryanair initiated at Goldman Sachs »

Ryanair initiated with a…

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LXFR

Luxfer

$17.57

0.16 (0.92%)

20:11
11/19/19
11/19
20:11
11/19/19
20:11
Initiation
Luxfer initiated at B. Riley FBR »

Luxfer initiated with a…

03/08/13
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03/06/13
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VAL

Valaris

$3.69

-0.515 (-12.26%)

20:09
11/19/19
11/19
20:09
11/19/19
20:09
Initiation
Valaris initiated at Deutsche Bank »

Valaris initiated with a…

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03/06/13
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RIG

Transocean

$4.66

-0.16 (-3.32%)

20:03
11/19/19
11/19
20:03
11/19/19
20:03
Initiation
Transocean initiated at Deutsche Bank »

Transocean initiated with…

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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FTI

TechnipFMC

$19.29

-0.24 (-1.23%)

19:58
11/19/19
11/19
19:58
11/19/19
19:58
Initiation
TechnipFMC initiated at Deutsche Bank »

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03/06/13
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SLB

Schlumberger

$34.31

-0.36 (-1.04%)

19:53
11/19/19
11/19
19:53
11/19/19
19:53
Initiation
Schlumberger initiated at Deutsche Bank »

Schlumberger initiated…

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PTEN

Patterson-UTI

$8.49

-0.095 (-1.11%)

19:45
11/19/19
11/19
19:45
11/19/19
19:45
Initiation
Patterson-UTI initiated at Deutsche Bank »

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03/06/13
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SAFE

Safehold

$34.59

-1.33 (-3.70%)

19:38
11/19/19
11/19
19:38
11/19/19
19:38
Syndicate
Safehold 3M share Secondary priced at $34.00 »

The deal size was…

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  • 20

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HP

Helmerich & Payne

$38.39

-0.45 (-1.16%)

19:36
11/19/19
11/19
19:36
11/19/19
19:36
Initiation
Helmerich & Payne initiated at Deutsche Bank »

Helmerich & Payne…

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HAL

Halliburton

$19.89

-0.26 (-1.29%)

19:31
11/19/19
11/19
19:31
11/19/19
19:31
Initiation
Halliburton initiated at Deutsche Bank »

Halliburton initiated…

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  • 21

    Jan

BKR

Baker Hughes

$22.01

-0.155 (-0.70%)

19:24
11/19/19
11/19
19:24
11/19/19
19:24
Initiation
Baker Hughes initiated at Deutsche Bank »

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PHAT

Phathom Pharmaceuticals

$24.79

-0.09 (-0.36%)

19:23
11/19/19
11/19
19:23
11/19/19
19:23
Initiation
Phathom Pharmaceuticals initiated at Evercore ISI »

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SHW

Sherwin-Williams

$584.48

-1.13 (-0.19%)

19:20
11/19/19
11/19
19:20
11/19/19
19:20
Downgrade
Sherwin-Williams rating change at Edward Jones »

Sherwin-Williams…

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SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

, SPX

S&P 500

$0.00

(0.00%)

19:17
11/19/19
11/19
19:17
11/19/19
19:17
Periodicals
Commerce Sec Ross says China trade talks still work in progress, Bloomberg says »

U.S. Commerce Secretary…

SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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BRY

Berry Petroleum

$8.90

-2.405 (-21.27%)

19:10
11/19/19
11/19
19:10
11/19/19
19:10
Downgrade
Berry Petroleum rating change at KeyBanc »

Berry Petroleum…

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NYMT

New York Mortgage

$6.25

0.015 (0.24%)

19:05
11/19/19
11/19
19:05
11/19/19
19:05
Syndicate
New York Mortgage 25M share Spot Secondary priced at $6.10 »

The deal priced below the…

03/08/13
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03/08/13
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  • 20

    Nov

LNG

Cheniere Energy

$59.77

-0.69 (-1.14%)

19:01
11/19/19
11/19
19:01
11/19/19
19:01
Hot Stocks
Cheniere Energy CEO buys 8.4K shares of common stock »

In a regulatory filing,…

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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  • 04

    Dec

SQ

Square

$66.43

0.68 (1.03%)

18:57
11/19/19
11/19
18:57
11/19/19
18:57
Hot Stocks
Square CFO: Our mission is economic empowerment »

In an interview on…

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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  • 20

    Nov

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    Feb

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