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WMT

Walmart

$119.60

-0.16 (-0.13%)

, XLP

Consumer Staples Sector SPDR

$60.97

0.04 (0.07%)

08:14
10/23/19
10/23
08:14
10/23/19
08:14

Procter & Gamble results could bode well for Walmart, says Morgan Stanley

Morgan Stanley analyst Simeon Gutman noted that three of the four companies with the greatest weight in the Consumer Staples Sector SPDR (XLP) - PepsiCo (PEP), Coca-Cola (KO) and now Procter & Gamble (PG) - have reported solid Q3 results. He thinks the group's momentum could have a positive read-through to Walmart (WMT), which will report its fiscal Q3 results on November 14. Gutman added that the correlation between Walmart's total comps and P&G volume growth on a trailing five year basis has improved in the past couple of quarters and both companies' revenue trajectories have trended in a similar direction since "around 2015." Gutman keeps an Overweight rating on Walmart shares with a $125 price target.

WMT

Walmart

$119.60

-0.16 (-0.13%)

XLP

Consumer Staples Sector SPDR

$60.97

0.04 (0.07%)

PG

Procter & Gamble

$122.19

3.15 (2.65%)

PEP

PepsiCo

$136.65

0.5 (0.37%)

KO

Coca-Cola

$53.87

-0.37 (-0.68%)

  • 13

    Nov

  • 14

    Nov

WMT Walmart
$119.60

-0.16 (-0.13%)

10/14/19
MSCO
10/14/19
NO CHANGE
Target $125
MSCO
Overweight
PhonePe spin could create clearer path to value for Walmart, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman noted that India's Economic Times recently reported that PhonePe could be spun out from Flipkart, with the article claiming that Walmart would keep the 77% stake in the company it currently holds via its existing stake in Flipkart. He values PhonePe at $7B in his base case and $20B in his bull case, believes it to be an underappreciated asset within Walmart and thinks a spin could help to unlock value, Gutman tells investors. He keeps an Overweight rating and $125 price target on Walmart shares.
10/11/19
MSCO
10/11/19
NO CHANGE
Target $125
MSCO
Overweight
Walmart U.S. CEO transition should be smooth, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman said the departure of Greg Foran from Walmart to accept the CEO job at Air New Zealand and the promotion of John Furner to become President and CEO of Walmart U.S. were unexpected, but "make sense given the circumstances." Furner has spent over 25 years in various roles and divisions of Walmart, noted Gutman, who expects "a relatively smooth handoff" and has confidence the transition "should be a clean one." He also said investors may be concerned Foran's departure could be read as a sign that Walmart U.S. is operating at peak performance, but Gutman does not believe this is the case and sees room for improvement that Furner's specific skills should help address. He keeps an Overweight rating on Walmart shares.
09/30/19
WELS
09/30/19
NO CHANGE
Target $30
WELS
Outperform
National Vision price target lowered to $30 from $37 at Wells Fargo
Wells Fargo analyst Zachary Fadem lowered his price target for National Vision (EYE) to $30 from $37 giving near-term overhangs. The analyst also notes that sentiment is "increasingly poor," but margin improvement offers a chance at redemption. While investor sentiment around Walmart (WMT) has shifted from an opportunity to an overhang, Fadem believes shares now price a worst case scenario that he views unlikely near-term. He reiterates an Outperform rating on National Vision's stock.
09/23/19
BARD
09/23/19
NO CHANGE
Target $130
BARD
Outperform
Walmart price target raised to $130 from $120 at Baird
Baird analyst Peter Benedict raised his price target on Walmart to $130 from $120 following meetings with management. The meetings were upbeat as efforts to transform its core retail capabilities and culture are gaining traction with consumers which is fueling an evolving market perception of the company. Benedict reiterated his Outperform rating on Walmart shares.
XLP Consumer Staples Sector SPDR
$60.97

0.04 (0.07%)

04/15/19
UBSW
04/15/19
NO CHANGE
Target $56
UBSW
Buy
Mondelez price target raised to $56 from $51 at UBS
UBS analyst Steven Strycula raised his price target on Mondelez (MDLZ) to $56 and kept his Buy rating, saying that while the stock has already outperformed the broader Consumer Staples ETF (XLP) by 14pts year-to-date, it can "rerate" further "if global organic sales trends grow over 2.5% and FY19 operating margin targets prove conservative." The analyst notes that while growth in U.S. food is scarce, he believes that Mondelez's relative price-to-earnings valuation can expand thanks to "relative sales outperformance and a pullback in rates."
PG Procter & Gamble
$122.19

3.15 (2.65%)

10/23/19
MACQ
10/23/19
NO CHANGE
Target $138
MACQ
Outperform
Procter & Gamble price target raised to $138 from $132 at Macquarie
Macquarie analyst Caroline Levy raised her price target for Procter & Gamble to $138 from $132 and reiterates an Outperform rating on the shares citing the company's "very strong" fiscal Q1 results. Sales growth was better than expected across all divisions and in key geographies including the U.S. and China, Levy tells investors in a research note titled "Powerful & Gaining." She points out that Procter gained market share in eight of its 10 categories in its largest market, the U.S. This is a "dramatic improvement" from just a few years ago when share losses felt irreversible, Levy contends.
09/27/19
NORL
09/27/19
NO CHANGE
NORL
Outperform
Digimarc solution being tested by P&G, other CPG companies, says Northland
Northland analyst Gus Richard said that Procter & Gamble (PG) has tested Digimarc Barcode for inspection of product labeling and he believes a few CPG companies are working with Digimarc's (DMRC) technology for manufacturing applications. He estimates P&G could generate over $100,000 for Digimarc, assuming a low rate of adoption by P&G in manufacturing next year, Richard tells investors. He keeps an Outperform rating on Digimarc shares.
09/18/19
MSCO
09/18/19
NO CHANGE
MSCO
EU Household & Personal Care sector downgraded to In-Line at Morgan Stanley
Morgan Stanley analyst Richard Taylor downgraded the European Household & Personal Care, or HPC, sector to In-Line from Attractive to reflect a fading pricing environment in the second half of 2019 and competitive pressures that he sees increasing. Procter & Gamble (PG), after nearly 10 years of losing share to the big players in Europe, is now growing fast and gaining share under new management, Taylor tells investors. His least preferred name in the group is Henkel (HENKY), on which he has an Underweight rating. Other European HPC companies include Unilever (UN, UL), Reckitt Benckiser (RBGLY) and L'Oreal (LRLCY).
09/11/19
MSCO
09/11/19
NO CHANGE
Target $144
MSCO
Underweight
Clorox valuation unwarranted given widening gap with peers, says Morgan Stanley
Morgan Stanley analyst Dara Mohsenian reiterates his Underweight rating on Clorox (CLX) shares despite the stock's recent underperfomance compared to peers such as Procter & Gamble (PG), Colgate-Palmolive (CL) and Church & Dwight (CHD) as he believes the company's decelerating topline growth, market share losses and lower gross margin expansion make the stock's current valuation compared to peers unwarranted. Though he is not yet revising his estimates, Mohsenian sees risk of downward earnings revisions if scanner trends continue to deteriorate, he tells investors. He maintains a $144 price target on Clorox shares.
PEP PepsiCo
$136.65

0.5 (0.37%)

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).
10/04/19
BMOC
10/04/19
NO CHANGE
Target $133
BMOC
Market Perform
PepsiCo price target raised to $133 from $128 at BMO Capital
BMO Capital analyst Amit Sharma raised his price target on PepsiCo to $133 after its Q3 earnings beat and maintained FY19 guidance. The analyst notes that even in its "investment year" and against an "uncertain" macro backdrop, the company's operating model is working "better than expected", pointing to the 4.3% organic growth rate in the quarter in spite of the tough comparisons. Sharma still keeps his Market Perform rating on PepsiCo, stating that at 23-times forward earnings multiple, the stock already reflects the company's earnings growth potential.
09/11/19
MSCO
09/11/19
NO CHANGE
Target $149
MSCO
Overweight
PepsiCo price target raised to $149 from $143 at Morgan Stanley
Morgan Stanley analyst Dara Mohsenian sees strong near-term revenue growth at PepsiCo being supported by an acceleration in U.S. scanner data and also believes the company has above peer topline growth potential over the longer term driven by its snacks business and international momentum. He also does not think Pepsi's high EPS visibility is fully priced into the stock given its discounted valuation compared to peers. Mohsenian reiterates an Overweight rating on PepsiCo and raised his price target on the shares to $149 from $143.
10/21/19
MSCO
10/21/19
NO CHANGE
MSCO
Morgan Stanley suggests long PepsiCo, underweight Keurig Dr Pepper pair trade
Morgan Stanley analyst Dara Mohsenian is suggesting a pair trade of being Overweight PepsiCo (PEP) and Underweight Keurig Dr Pepper (KDP) given that the stocks trade at similar valuations but he believes the former offers higher growth potential, higher visibility, and "much lower" risk than the latter. Mohsenian contends that the market is still not fully valuing the solid long-term revenue growth potential at PepsiCo while still overvaluing the growth potential of Keurig Dr Pepper, particularly in coffee, and also not factoring in the latter's potential deteriorating free cash flow post 2019, the analyst tells investors.
KO Coca-Cola
$53.87

-0.37 (-0.68%)

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.
10/23/19
UBSW
10/23/19
UPGRADE
Target $63
UBSW
Buy
Coca-Cola upgraded to Buy from Neutral at UBS
UBS analyst Sean King upgraded Coca-Cola to Buy from Neutral with a price target of $63, up from $55. The stock closed Tuesday down 38c to $53.85. The company is "effectively navigating" aggressive U.S. price increases, a transformational deal for Costa, and demonstrating strong innovation capabilities while reinvigorating growth in high-margin sparkling, King tells investors in a research note. These "comfortably position" Coca-Cola to deliver on growth targets and improve free cash flow through fiscal 2022, adds the analyst. He believes the company's earnings, range bound since 2011, have reached a "sustainable fundamental inflection" that will drive a multiple re-rating.
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.

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RCEL

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EIDX

Eidos Therapeutics

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1.33 (2.94%)

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COO

Cooper Companies

$301.97

2.64 (0.88%)

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CRM

Salesforce

$163.20

0.18 (0.11%)

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CCMP

Cabot Microelectronics

$155.89

2.68 (1.75%)

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CCMP

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$155.89

2.68 (1.75%)

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CCMP

Cabot Microelectronics

$155.89

2.68 (1.75%)

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JEF

Jefferies Financial Group

$19.08

0.16 (0.85%)

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NIO

NIO Inc.

$1.82

0.07 (4.01%)

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GOLD

Barrick Gold

$16.57

-0.095 (-0.57%)

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Barrick Gold

$16.57

-0.095 (-0.57%)

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ESPR

Esperion

$40.51

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PG&E

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XRX

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$38.95

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Johnson & Johnson

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BA

Boeing

$371.55

4.25 (1.16%)

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AZN

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LLY

Eli Lilly

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AZN

AstraZeneca

$47.46

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BA

Boeing

$371.55

4.25 (1.16%)

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