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AB

AllianceBernstein

$29.77

0.22 (0.74%)

, BAC

Bank of America

$32.78

-0.32 (-0.97%)

04:55
11/14/19
11/14
04:55
11/14/19
04:55

Nareit to hold a conference

REITworld: 2019 Annual Conference will be held in Los Angeles on November 12-14.

AB

AllianceBernstein

$29.77

0.22 (0.74%)

BAC

Bank of America

$32.78

-0.32 (-0.97%)

BBVA

Banco Bilbao

$5.23

-0.175 (-3.24%)

BRX

Brixmor

$21.85

0.34 (1.58%)

BXP

Boston Properties

$136.68

1.06 (0.78%)

C

Citi

$73.91

-1.17 (-1.56%)

CLDT

Chatham Lodging

$17.59

-0.225 (-1.26%)

COF

Capital One

$96.33

-0.89 (-0.92%)

CS

Credit Suisse

$12.84

-0.195 (-1.50%)

DRH

DiamondRock

$10.07

-0.1 (-0.98%)

EVER

EverQuote

$29.04

-0.06 (-0.21%)

DOC

Physicians Realty Trust

$18.33

0.11 (0.60%)

JEF

Jefferies Financial Group

$19.03

-0.23 (-1.19%)

JMP

JMP Group

$3.20

-0.04 (-1.23%)

KIM

Kimco Realty

$21.06

0.33 (1.59%)

LAMR

Lamar Advertising

$81.65

-0.37 (-0.45%)

LMRK

Landmark Infrastructure

$15.50

-0.11 (-0.70%)

MS

Morgan Stanley

$48.39

-0.62 (-1.27%)

PEB

Pebblebrook Hotel

$24.90

-0.13 (-0.52%)

O

Realty Income

$76.84

1.11 (1.47%)

RJF

Raymond James

$88.35

-1.29 (-1.44%)

REG

Regency Centers

$64.68

-0.13 (-0.20%)

RLJ

RLJ Lodging Trust

$16.44

-0.19 (-1.14%)

SKT

Tanger Factory

$15.97

0.08 (0.50%)

STOR

Store Capital

$39.84

0.845 (2.17%)

SF

Stifel Financial

$59.70

-1.83 (-2.97%)

SUI

Sun Communities

$157.14

2.355 (1.52%)

UDR

UDR, Inc.

$47.72

0.69 (1.47%)

UBS

UBS

$12.16

-0.17 (-1.38%)

WFC

Wells Fargo

$53.27

-0.96 (-1.77%)

WRE

Washington REIT

$30.32

-0.1 (-0.33%)

WY

Weyerhaeuser

$28.98

-0.16 (-0.55%)

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AB AllianceBernstein
$29.77

0.22 (0.74%)

01/14/19
SBSH
01/14/19
NO CHANGE
SBSH
Citi gets more defensive on Brokers & Asset Managers, downgrades five
Citi analyst Citi analyst William Katz is taking a more defense stance on the traditional Brokers & Asset Managers to reflect what he sees as "weak" fundamentals and "still elevated" consensus estimates. The analyst reduced his target multiples across the group and downgraded Affiliated Managers (AMG) and Brightsphere Investment Group (BSIG) to Neutral from Buy as well as Artisan Partners (APAM), Waddell & Reed (WDR) and Franklin Resources (BEN) to Sell from Neutral. Katz calls Och-Ziff Capital (OZM) and LPL Financial (LPLA) his top ideas and also opened a "30 Day Positive Catalyst Watch" for Carlyle Group (CG) and Legg Mason (LM). The analyst recommends pair trades of Overweight AllianceBernstein (AB), underweight Artisan Partners (APAM), and overweight BlackRock (BLK), underweight T. Rowe Price (TROW).
06/12/19
GSCO
06/12/19
UPGRADE
Target $35
GSCO
Buy
AllianceBernstein upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Alexander Blostein upgraded AllianceBernstein to Buy from Neutral and raised his price target for the shares to $35 from $31.50. The company's "leading" organic fee growth is not priced into the shares at current levels, Blostein tells investors in a research note.
06/12/19
06/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. NXP Semiconductors (NXPI) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Craig Hettenbach saying he sees relative value in the stock after the shares have underperformed peers by 73% during the last three years. 2. AllianceBernstein (AB) upgraded to Buy from Neutral at Goldman Sachs with analyst Alexander Blostein saying the company's "leading" organic fee growth is not priced into the shares at current levels. 3. Brinker (EAT) upgraded to Outperform from Market Perform at Telsey Advisory. 4. CymaBay (CBAY) upgraded to Strong Buy from Outperform at Raymond James with analyst Steven Seedhouse citing the upside potential he sees following the pullback in the stock. 5. CommScope (COMM) upgraded to Buy from Neutral at Rosenblatt with analyst Ryan Koontz saying "surging" fiber spending ahead of 5G buildouts, led by Verizon (VZ), improves the outlook of select companies in the communications equipment sector. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/19
SBSH
10/25/19
NO CHANGE
SBSH
Citi recommends pair trade of long AllianceBernstein, short Invesco
Citi analyst William Katz introduces a pair trade recommendation of overweight Buy-rated AllianceBernstein (AB) while underweighting Neutral-rated Invesco (IVZ). The analyst sees a more favorable business mix shift for AllianceBernstein relative to Invesco. This should drive superior flow, fee rate and incremental margin dynamics, Katz tells investors in a research note.
BAC Bank of America
$32.78

-0.32 (-0.97%)

10/22/19
10/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Outperform from In-Line at Imperial Capital with analyst David Miller sayign amidst changes in the Media sector, and against "various levels of turmoil" within many of the company's peers, Discovery has emerged "as one of the cleaner stories in the sector." 2. Dropbox (DBX) upgraded to Buy from Neutral at Nomura Instinet with analyst Christopher Eberle saying the company is nearing an inflection in revenue after six quarters of deceleration as a public company and its current valuation is attractive. 3. Workday (WDAY) and Anaplan (PLAN) upgraded to Outperform from In Line at Evercore ISI. 4. Owens Corning (OC) upgraded to Buy from Neutral at Buckingham with analyst Megan McGrath saying the company's installation business should benefit from recent improved volumes in residential U.S. construction and potentially improved price stability. 5. Bank of America (BAC) upgraded to Overweight from Neutral at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/28/19
ODEN
10/28/19
UPGRADE
ODEN
Buy
Bank of America upgraded to Buy from Hold at Odeon Capital
Odeon Capital analyst Dick Bove upgraded Bank of America to Buy from Hold.
10/28/19
10/28/19
UPGRADE

Buy
Bank of America upgraded to Buy from Hold at Odeon Capital
As previously reported, Odeon Capital analyst Dick Bove upgraded Bank of America to Buy from Hold. Bove called the stock "a good investment," noting Bank of America's growth from a company "struggling to maintain its existence" to a large, stable one, although not the growth vehicle it once was. The analyst sees a revenue growth rate of 3.3% per year from now to 2025, net income that could grow at 4.9%, and earnings per share that could grow at 6.5%. He believes the increased confidence in Bank of America stock is driven by the company's balance sheet strength and its decision to base future growth on "internally generated revenues and earnings." Bove believes as long as it can "maintain reasonable loan quality its future earnings and dividend growth lends itself to a relatively high level of predictability."
10/29/19
SOCG
10/29/19
DOWNGRADE
SOCG
Sell
Bank of America downgraded to Sell from Hold at Societe Generale
Societe Generale analyst Andrew Lim downgraded Bank of America to Sell from Hold.
BBVA Banco Bilbao
$5.23

-0.175 (-3.24%)

04/01/19
DBAB
04/01/19
UPGRADE
DBAB
Buy
Banco Bilbao upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Ignacio Ulargui upgraded Banco Bilbao Vizcaya Argentaria to Buy from Hold and raised his price target for the shares to EUR 6.00 from EUR 4.50. The analyst sees a positive potential impact for banks from the new administration in Mexico.
06/12/19
FBCO
06/12/19
DOWNGRADE
FBCO
Underperform
Banco Bilbao downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Andrea Unzueta downgraded Banco Bilbao Vizcaya Argentaria to Underperform from Neutral.
06/26/19
SOCG
06/26/19
DOWNGRADE
SOCG
Sell
Banco Bilbao downgraded to Sell from Hold at Societe Generale
Societe Generale analyst Carlos Cabo Catena downgraded Banco Bilbao citing NIM pressure in Mexico and increased macro risks.
08/22/19
HSBC
08/22/19
UPGRADE
HSBC
Buy
Banco Bilbao upgraded to Buy from Hold at HSBC
BRX Brixmor
$21.85

0.34 (1.58%)

09/03/19
SDLR
09/03/19
UPGRADE
SDLR
Buy
Brixmor upgraded to Buy from Hold at Sandler O'Neill
09/03/19
09/03/19
UPGRADE
Target $21

Buy
Brixmor upgraded to Buy on liquidity tailwinds at Sandler ONeill
As previously reported, Sandler ONeill analyst Alexander Goldfarb upgraded Brixmor to Buy from Hold, with a $21 price target. Given the recent drop in the 10-year and prospect for prolonged ultra low interest rates, the analyst believes the demand for higher yielding, balance sheet improving REITs will increase. Further, he thinks the improving capital markets for shopping centers will help close Brixmor's 28% NAV discount. Overall, Goldfarb continues to be impressed by management's twin strategy of improved credit positioning and redevelopment strategy that focuses on smaller scale projects, funded with free cash flow and dispositions.
09/05/19
DBAB
09/05/19
DOWNGRADE
DBAB
Hold
Brixmor downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Derek Johnston downgraded Brixmor Property Group to Hold from Buy.
09/05/19
DBAB
09/05/19
DOWNGRADE
Target $19
DBAB
Hold
Brixmor downgraded to Hold on valuation at Deutsche Bank
Deutsche Bank analyst Derek Johnston downgraded Brixmor Property Group to Hold from Buy and lowered his price target for the shares to $19 from $20. The stock's year-to-date run has closed the valuation gap with its long-term average, Johnston tells investors in a research note. On a relative basis, Brixmor is also now trading on par with its five-year average spread relative to Strip peers, Johnston tells investors in a research note. He cites valuation for his downgrade to Hold.
BXP Boston Properties
$136.68

1.06 (0.78%)

09/10/19
MSCO
09/10/19
UPGRADE
MSCO
Equal Weight
Boston Properties upgraded to Equal Weight from Underweight at Morgan Stanley
09/10/19
MSCO
09/10/19
UPGRADE
Target $126
MSCO
Equal Weight
Morgan Stanley upgrades Boston Properties to Equal Weight on valuation
Morgan Stanley analyst Vikram Malhotra upgraded Boston Properties to Equal Weight from Underweight with a price target of $126, up from $123. Valuations are more reasonable today in the New York City office real estate investment trust space following this year's underperformance, Malhotra tells investors in a research note. The analyst, despite seeing a low probability for New York City office fundamentals to turn positive, sees the potential for a near-term rally due to valuations.
09/10/19
09/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. BHP Group (BHP) upgraded to Buy from Neutral at Goldman Sachs. 2. Marten Transport (MRTN) and Heartland Express (HTLD) upgraded to Overweight from Sector Weight at KeyBanc. 3. MercadoLibre (MELI) upgraded to Buy from Neutral at BTIG with analyst Marvin Fong saying the pullback in shares post-Argentina is overdone. 4. Schlumberger (SLB) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Connor Lynagh saying that while the stock struggled over the past several years, its relative outlook is improving. 5. Boston Properties (BXP) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Vikram Malhotra saying valuations are more reasonable today in the New York City office real estate investment trust space following this year's underperformance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/08/19
GSCO
11/08/19
INITIATION
Target $156
GSCO
Buy
Boston Properties initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Richard Skidmore initiated coverage of Boston Properties with a Buy rating and $156 price target.. The analyst started eight New York and West Coast office real estate investment trusts. "Robust" employment growth, high occupancy and tight supply drive his preference for West Coast office REITs. Skidmore forecasts Boston Properties's funds from operations to grow 8.8% annual over the next three years.
C Citi
$73.91

-1.17 (-1.56%)

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.
10/16/19
BMOC
10/16/19
NO CHANGE
Target $57
BMOC
Market Perform
Wells Fargo price target lowered to $57 from $59 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on Wells Fargo (WFC) to $57 and kept his Market Perform rating after its Q3 results. The analyst cites the bank's lower than expected net interest income along with a miss on fees and a higher than anticipated operating costs. Fotheringham contends that before the new Wells Fargo CEO arrives and administers a strategic review, there are better investment opportunities in large cap banks that include Citi (C), Bank of America (BAC), Capital One (COF) and Morgan Stanley (MS).
10/24/19
10/24/19
NO CHANGE

Citigroup to hold a conference call
Conference call to discuss 3Q19 Fixed Income Investor Review will be held on October 29 at 11 am. Reference Link
11/07/19
BOFA
11/07/19
NO CHANGE
Target $85
BOFA
Buy
Citi price target raised to $85 from $78 at BofA/Merrill
BofA/Merrill analyst Erika Najarian raised her price target on Citi to $85 and kept her Buy rating, saying the company's "renewed U.S. consumer strategy" may help in its transition to a "story stock" from a "value stock". The analyst cites Citi's recent progress and forward vision of its new Head of Consumer Banking, Anand Selva, in growing its Branded Cards business, boosting her confidence in her FY20 projections.
CLDT Chatham Lodging
$17.59

-0.225 (-1.26%)

10/16/19
BMOC
10/16/19
INITIATION
Target $17
BMOC
Market Perform
Chatham Lodging initiated with a Market Perform at BMO Capital
BMO Capital analyst Ari Klein initiated coverage of Chatham Lodging with a Market Perform rating and $17.00 price target. Chatham's concentration in large markets provides differentiation from peers and drives higher relative RevPAR, but its RevPAR growth has consistently underperformed peers, Klein tells investors. He also worries that low growth could pressure EBITDA margins and adds risk to the stock's multiple.
COF Capital One
$96.33

-0.89 (-0.92%)

06/11/19
SBSH
06/11/19
NO CHANGE
Target $105
SBSH
Buy
Capital One best positioned with all-in tech strategy, says Citi
Citi analyst Jill Shea thinks Capital One Financial's all-in tech strategy and digital transformation will be a key differentiator as consumer expectations continue to increase and behavior changes. She reiterates a Buy rating on the shares with a $105 price target. Capital One is best positioned to deliver a set of capabilities with speed, efficiency and with the innovation required to keep up with a digital age, Shea tells investors in a research note.
06/24/19
UBSW
06/24/19
NO CHANGE
UBSW
DFAST results encourgaing for Wells Fargo, says UBS
UBS analyst Saul Martinez said the DFAST results from the Federal Reserve, reported after the close on Friday, were most encouraging for "those who didn't fare as well last year," like Wells Fargo (WFC). He thinks Goldman Sachs (GS), Morgan Stanley (MS) and State Street (STT) look like they have room to reach his forecasted capital returns and also said lower stressed losses at Citi (C) and JPMorgan (JPM) could suggest that the current SCB proposal may not lead to materially higher minimum capital requirements, added Martinez. However, he thinks there could be some downside to his capital return estimates for Capital One (COF), which he notes have been above consensus.
07/08/19
DBAB
07/08/19
INITIATION
Target $98
DBAB
Hold
Capital One reinstated with a Hold at Deutsche Bank
Deutsche Bank analyst Dave Rochester reinstated coverage of Capital One with a Hold rating and $98 price target.
CS Credit Suisse
$12.84

-0.195 (-1.50%)

03/13/19
JPMS
03/13/19
DOWNGRADE
JPMS
Neutral
Credit Suisse downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Kian Abouhossein downgraded Credit Suisse to Neutral from Overweight and lowered his price target for the shares to 14 francs from 16 francs. The company's investment banking strategy is "value destroying," Abouhossein tells investors in a research note. Further, he believes Credit Suisse's cost cuts are fully discounted in the current valuation.
03/13/19
03/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Roku (ROKU) downgraded to Sell from Hold at Loop Capital and to Neutral from Outperform at Macquarie. 2. Hercules Capital (HTGC) downgraded to Market Perform from Outperform at Keefe Bruyette and to Neutral from Buy at Compass Point as well as B. Riley FBR. 3. Credit Suisse (CS) downgraded to Neutral from Overweight at JPMorgan with analyst Kian Abouhossein saying the company's investment banking strategy is "value destroying." 4. Comerica (CMA) downgraded to Neutral from Outperform at Wedbush with analyst Peter Winter saying he believes earnings growth will be more challenging in 2020 given less earnings levers, the benefit from lower expenses is behind, and share buyback activity is set to slow in 2020. 5. NuStar Energy (NS) downgraded to Underweight from Neutral at JPMorgan analyst Jeremy Tonet saying he sees lower return potential following the stock's "significant outperformance" year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/30/19
EXAN
08/30/19
UPGRADE
EXAN
Outperform
Credit Suisse upgraded to Outperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Jeremy Sigee upgraded Credit Suisse to Outperform from Neutral and raised his price target for the shares to 14.20 francs from 13 francs.
08/30/19
08/30/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Abercrombie & Fitch (ANF) upgraded to Hold from Sell at Deutsche Bank with analyst Tiffany saying the company's falling margins are now reflected in its guidance. 2. DuPont (DD) upgraded to Outperform from Neutral at Exane BNP Paribas. 3. Credit Suisse (CS) upgraded to Outperform from Neutral at Exane BNP Paribas. 4. Tabula Rasa HealthCare (TRHC) upgraded to Buy from Hold at Stifel with analyst David Grossman saying the shares are trading at 4.1 times estimated 2020 revenue, which is more in line with comparable companies and a more attractive entry point, particularly given potential catalysts over the next 12-18 months. 5. CAE (CAE) upgraded to Outperform from Sector Perform at Scotiabank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DRH DiamondRock
$10.07

-0.1 (-0.98%)

01/25/19
KEYB
01/25/19
DOWNGRADE
Target $8
KEYB
Underweight
DiamondRock downgraded to Underweight from Sector Weight at KeyBanc
KeyBanc analyst Austin Wurschmidt downgraded DiamondRock to Underweight from Sector Weight with an $8 price target, citing his cautious view on lodging fundamentals and the company's above-average exposure to markets with 20%+ declines in citywide room nights in 2019. The analyst also tells investors in a research note that he views DiamondRock's growing exposure to destination resort markets as a potential risk given increased economic uncertainty and weakening consumer confidence and cut his 2019 RevPAR growth assumption to .2% from 2.5%.
06/26/19
WELS
06/26/19
UPGRADE
WELS
Market Perform
DiamondRock upgraded to Market Perform from Underperform at Wells Fargo
06/27/19
WELS
06/27/19
UPGRADE
Target $10.5
WELS
Market Perform
DiamondRock upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly last night upgraded DiamondRock Hospitality Company to Market Perform from Underperform and raised his price target for the shares to $10.50 from $10. In 2020, many of DiamondRock's core markets and assets may show accelerating RevPAR growth, thereby mitigating the relative performance gap from 2019, Donnelly tells investors in a research note. Further, he believes the company's 20% discount to net asset value in the sector is increasing pressure on management teams to explore share repurchases.
08/19/19
WELS
08/19/19
INITIATION
Target $9.5
WELS
Market Perform
DiamondRock resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Dori Kesten resumed coverage of DiamondRock with a Market Perform and a $9.50 price target. The analyst would expect the company to be active in repurchasing shares in the second half of the year given that Danaher trades at what management estimates to be a 30% discount to NAV, its leverage implies about $300M in investment capacity, and its outlook for 2020 is relatively positive based on its group bookings and exposure to markets with strong convention calendars. That said, the company is trading at a 0.3-times turn premium to the lodging REITs' 2020 consensus EV/EBITDA, after having traded at a 0.7-times turn discount over the last 3 years, leading Kesten to believe the shares are fairly valued.
EVER EverQuote
$29.04

-0.06 (-0.21%)

11/05/19
RAJA
11/05/19
NO CHANGE
Target $30
RAJA
Outperform
EverQuote price target raised to $30 from $20 at Raymond James
Raymond James analyst Aaron Kessler raised his price target for EverQuote to $30 from $20 after its "strong" Q3 results. The analyst cites EverQuote's position as a leading insurance marketplace with a large TAM increasingly shifting online, strong revenue growth driven in part by tech investments, and his expectation for significant EBITDA margin expansion driven by operating expense leverage.
11/05/19
ADAM
11/05/19
NO CHANGE
Target $34
ADAM
Buy
EverQuote price target raised to $34 from $25 at Canaccord
Canaccord analyst Michael Graham raised his price target on EverQuote to $34 from $25 following Q3 results which reflect continued momentum for the fourth straight quarter from auto insurance, acquisition efficiency, and new verticals. The analyst said the ongoing secular shift and execution, will fuel the company's top-line acceleration. Grahm reiterated his Buy rating on EverQuote shares.
11/05/19
OPCO
11/05/19
NO CHANGE
Target $33
OPCO
Outperform
EverQuote price target raised to $33 from $19 at Oppenheimer
Oppenheimer analyst Jed Kelly raised his price target for EverQuote to $33 from $19 and maintained an Outperform rating following another "solid" beat-and-raise quarter in Q3. In a research note to investors, Kelly says he is "incrementally encouraged" by EverQuote's medium-term outlook from higher consumer volumes, strong industry tailwinds and stable auction dynamics.
11/05/19
BOFA
11/05/19
UPGRADE
Target $35
BOFA
Buy
Update: EverQuote upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst Nat Schindler upgraded EverQuote to Buy from Underperform with a $35 price target, up from $16.50, after its "strong" Q3 results. The analyst cites the rapid growth in the company's consumer traffic, with quote requests accelerating 32bps from Q2 to 81%. Schindler further points to EverQuote's better than expected revenues in Automotive and Other segments, along with its Variable Marketing Margin coming in 19% above consensus.
DOC Physicians Realty Trust
$18.33

0.11 (0.60%)

06/20/19
SBSH
06/20/19
INITIATION
Target $18.5
SBSH
Neutral
Physicians Realty Trust initiated with a Neutral at Citi
Citi analyst Michael Bilerman started Physicians Realty Trust with a Neutral rating and $18.50 price target. The analyst is "constructive" on the medical office building real estate investment trust space saying there is an increasing focus on lower cost and lower acuity settings to deliver healthcare.
09/12/19
BREN
09/12/19
INITIATION
Target $18
BREN
Hold
Physicians Realty Trust initiated with a Hold at Berenberg
Berenberg analyst Connor Siversky started Physicians Realty Trust with a Hold rating and $18 price target.
10/14/19
BOFA
10/14/19
INITIATION
Target $17.5
BOFA
Neutral
Physicians Realty Trust reinstated with a Neutral at BofA/Merrill
BofA/Merrill analyst Joshua Dennerlein reinstated coverage of Physicians Realty Trust with a Neutral rating and $17.50 price target.
10/14/19
BOFA
10/14/19
INITIATION
Target $17.5
BOFA
Neutral
Physicians Realty Trust resumed with a Neutral at BofA/Merrill
BofA/Merrill analyst Joshua Dennerlein resumed coverage of Physicians Realty Trust with a Neutral rating and $17.50 price target. The analyst is positive on the aging demographics driving increased demand for healthcare as well as the company's "strong fundamentals" with stable 2-3% growth, but warns that the increased competition for acquisitions may make it hard for Physicians Realty Trust to find accretive opportunities.
JEF Jefferies Financial Group
$19.03

-0.23 (-1.19%)

01/25/19
OPCO
01/25/19
NO CHANGE
OPCO
Outperform
Bank stocks still 'resoundingly cheap,' says Oppenheimer
Oppenheimer analyst Chris Kotowski told investors in a research note that one reason he is so "incessantly bullish" on bank stocks is that investors "still so incessantly hate them." The stocks still remain resoundingly cheap at a 63% relative P/E multiple even though bank balance sheets are arguably the best they have ever been, and the business models decidedly less capital-intensive, he contends. He continues to recommend Outperform-rated Bank of America (BAC), CIT (CIT), Citi (C), Goldman (GS), Jefferies (JEF), Morgan Stanley (MS) and U.S. Bancorp (USB).
07/11/19
KBWI
07/11/19
INITIATION
Target $23
KBWI
Market Perform
Jefferies Financial Group assumed with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Michael Brown assumed coverage of Jefferies Financial Group with a Market Perform rating and $23 price target. Despite its simplification actions, the company's business model has retained a high level of complexity and remains highly-cyclical due to its close ties to the health of capital markets, Brown tells investors in a research note. He believes investors need to see consistent results and a clearer path to higher returns before investors give Jefferies full credit for the transformation .
10/15/19
DBAB
10/15/19
NO CHANGE
DBAB
Hold
Deutsche places 'Catalyst Call' buy on Spectrum Brands after selloff
Since the September 16 announcement that Jefferies Financial Group (JEF) will distribute Spectrum Brands (SPB) stock to its shareholders as a special dividend, shares of Spectrum have traded down from $60 to $48, Deutsche Bank analyst Faiza Alwy tells investors in a research note. The analyst views the selloff as a "short-term dislocation" and believes Spectrum has sufficient flexibility to buy back stock, which should help remove "this technical overhang." As a result, Alwy placed a "Catalyst Call" buy on Spectrum Brand as a short-term investment idea. The analyst, however, keeps a long-term fundamental Hold rating on the shares.
11/01/19
11/01/19
NO CHANGE

Rice University-Jones Graduate School of Business to hold a summit
Rice Energy Finance Summit will be held in Houston on November 1.
JMP JMP Group
$3.20

-0.04 (-1.23%)

12/28/18
BRRR
12/28/18
NO CHANGE
BRRR
JMP Group Q4, FY18 estimates lowered at Barrington
Barrington analyst Alexander Paris maintained an Outperform rating on JM P Group, but lowered his Q4 and FY18 estimates on the company "to reflect the impact of the markets and current industry trends on its business" in Q4. Paris lowered his Q4 EPS estimate to 6c from 9c, his Q4 revenue estimate to $31.1M from $33.6M, and his Q4 operating income estimate to $1.4M from 2.3M. The analyst kept an Outperform rating on shares, however, citing JMP Group's 8.9% dividend yield and the fact the stock trades at a discount to both the small cap broker/dealer peer group and the alternative advisory peer group.
02/14/19
BRRR
02/14/19
NO CHANGE
BRRR
JMP Group Q4 results better-than-expected, says Barrington
Barrington analyst Alexander Paris, Jr. reiterated an Outperform rating on JMP Group, but lowered his price target on shares to $6 from $8 given the firm's lower near-term earnings expectations. Paris noted that JMP Group reported Q4 earnings after the close on Wednesday that beat the firm's expectations on both the top and bottom lines.
KIM Kimco Realty
$21.06

0.33 (1.59%)

09/04/19
COMP
09/04/19
DOWNGRADE
Target $17.75
COMP
Sell
Kimco Realty downgraded to Sell from Neutral at Compass Point
Compass Point analyst Floris van Dijkum downgraded Kimco Realty to Sell from Neutral with a price target of $17.75, down from $19.
09/04/19
COMP
09/04/19
DOWNGRADE
Target $17.75
COMP
Sell
Compass Point downgrades Kimco Realty to Sell, cuts price target to $17.75
Compass Point analyst Floris van Dijkum downgraded Kimco Realty to Sell from Neutral with a price target of $17.75, down from $19. The analyst says his relative valuation framework shows that Kimco is trading 3% tighter to net asset value than its historical relative valuation would warrant. Further, the company's dividend payout ratio has deteriorated as the 2019 dividend is uncovered while the 2020 payout is 97%, van Dijkum tells investors in a research note.
09/04/19
09/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. eBay (EBAY) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying the stock is up 44% year-to-date and within 4% of the price target. 2. G-III Apparel (GIII) downgraded to Neutral from Buy at BofA/Merrill with analyst Heather Balsky saying because of tariffs, the company will no longer be able to grow earnings in 2020. 3. WEC Energy (WEC) downgraded to Neutral from Buy at Guggenheim with analyst Shahriar Pourreza saying she now believes the valuation has "finally become harder to justify" with the stock up 41% year-to-date. 4. Kimco Realty (KIM) downgraded to Sell from Neutral at Compass Point with analyst Floris van Dijkum saying his relative valuation framework shows that Kimco is trading 3% tighter to net asset value than its historical relative valuation would warrant. 5. Internap (INAP) downgraded to Outperform from Strong Buy at Raymond James with analyst Frank Louthan saying monetization of assets and/or a sale of the company is further out than previously expected. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/23/19
SOCO
10/23/19
DOWNGRADE
Target $21
SOCO
Equalweight
Kimco Realty downgraded to Equalweight from Overweight at Capital One
Capital One analyst Chris Lucas downgraded Kimco Realty to Equalweight from Overweight with a $21 price target.
LAMR Lamar Advertising
$81.65

-0.37 (-0.45%)

03/28/19
MSCO
03/28/19
NO CHANGE
MSCO
Local ad survey positive for Google and Facebook, says Morgan Stanley
Morgan Stanley analysts led by Benjamin Swinburne and Brian Nowak said the firm's annual local ad survey showed that expectations to grow marketing budgets remained robust. The survey results were positive for Google parent Alphabet (GOOGL) and Facebook (FB), as Google's search and Instagram stood out as having strong year-over-year increases in the number of small and medium businesses pointing to each as providing "the highest ROI," the analysts noted. Twitter (TWTR) and Yelp (YELP) both fell in terms of usage by local advertisers, the analysts also noted. Outdoor continues to slowly pick up budget share, according to the survey, which makes the analysts incrementally positive on Lamar Advertising (LAMR) and Outfront Media (OUT), they added.
09/11/19
IMPC
09/11/19
NO CHANGE
Target $86
IMPC
Outperform
Lamar Advertising price target lowered to $86 from $89 at Imperial Capital
Imperial Capital analyst David Miller lowered his price target for Lamar Advertising to $86 from $89 following a reevaluation of his "target yield" methodology. The analyst, however, keeps an Outperform rating on the shares.
09/11/19
IMPC
09/11/19
NO CHANGE
Target $86
IMPC
Outperform
Lamar Advertising price target lowered to $86 from $89 at Imperial Capital
Imperial Capital analyst David Miller lowered his price target for Lamar Advertising to $86 from $89 following a reevaluation of his "target yield" methodology. The analyst, however, keeps an Outperform rating on the shares.
10/23/19
IMPC
10/23/19
DOWNGRADE
Target $86
IMPC
In-Line
Lamar Advertising downgraded to In-Line from Outperform at Imperial Capital
Imperial Capital analyst David Miller downgraded Lamar Advertising to In-Line from Outperform with an unchanged price target of $86. The analyst cites valuation for the downgrade with the shares up 21.7% thus far in 2019. He believes the high end of the company's current guidance is already priced in at current share levels.
LMRK Landmark Infrastructure
$15.50

-0.11 (-0.70%)

MS Morgan Stanley
$48.39

-0.62 (-1.27%)

10/10/19
10/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) upgraded to Buy from Neutral at Longbow with analyst Shawn Harrison saying his contacts, who previously gave him initial conservative forecasts for up to a 10% year-over-year decline in iPhone production in the calendar third quarter, now see flat production in the period of Apple's fiscal fourth quarter. 2. Qorvo (QRVO) and Skyworks (SWKS) upgraded to Outperform from Market Perform at Cowen. 3. Allegheny Technologies (ATI) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Korn saying Allegheny is one of few stocks in the sector with sales growth that does not depend on a commodity price recovery. 4. Bed Bath & Beyond (BBBY) upgraded to Outperform from Market Perform at Telsey Advisory. 5. Morgan Stanley (MS) upgraded to Buy from Hold at Sandler O'Neill with analyst Jeffery Harte 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.
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.
10/29/19
ODEN
10/29/19
DOWNGRADE
ODEN
Hold
Morgan Stanley downgraded to Hold from Buy at Odeon Capital
Odeon Capital analyst Richard Bove downgraded Morgan Stanley to Hold from Buy. While he views CEO James Gorman as among "the best and the brightest" on Wall Street, Bove believes the bank is now in a "very difficult situation" as its Asset and Wealth Management and Trading businesses are facing "price destruction due to technology." Also, the bank has slowed the growth in it common equity "at a time when recurring revenue streams from capital intensive lending are very necessary," Bove tells investors.
PEB Pebblebrook Hotel
$24.90

-0.13 (-0.52%)

08/15/19
BTIG
08/15/19
DOWNGRADE
BTIG
Neutral
Pebblebrook Hotel, Host Hotels cut to Neutral at BTIG on weaker demand
BTIG analyst James Sullivan downgraded Pebblebrook Hotel (PEB) and Host Hotels (HST) to Neutral as part of a broader research note on hotel REITs, saying their "attractive valuation" are not enough to offset the deteriorating fundamentals of weakening demand and persistent supply growth. The analyst notes that he anticipated a better top line growth in Q3 and Q4, but the occupancy and room rates trends so far this quarter have been weak, with additional pressure coming from weaker economic conditions outside the U.S. and the stronger USD.
10/16/19
BMOC
10/16/19
INITIATION
Target $28
BMOC
Market Perform
Pebblebrook Hotel initiated with a Market Perform at BMO Capital
BMO Capital analyst Ari Klein initiated coverage of Pebblebrook Hotel with a Market Perform rating and $28 price target. The current macro backdrop is a "clear challenge" that will impact the company's performance, and its renovations have been a "persistent headwind," Klein tells investors in a research note.
11/11/19
LEHM
11/11/19
DOWNGRADE
LEHM
Underweight
Pebblebrook Hotel downgraded to Underweight from Overweight at Barclays
Barclays analyst Anthony Powell double downgraded Pebblebrook Hotel Trust to Underweight from Overweight with a price target of $, down from $26.
11/11/19
LEHM
11/11/19
DOWNGRADE
Target $26
LEHM
Underweight
Barclays double downgrades Pebblebrook to Underweight on 2020 challenges
Barclays analyst Anthony Powell double downgraded Pebblebrook Hotel Trust to Underweight from Overweight with a price target of $26, down from $32. In 2020, the analyst expects "tough" comps in key markets like San Francisco, "soft" corporate transient and international inbound travel, and high supply growth to have a disproportionate impact on Pebblebrook given its geographic exposure and lower mix of in-house group business.
O Realty Income
$76.84

1.11 (1.47%)

08/27/19
DBAB
08/27/19
INITIATION
DBAB
Hold
Realty Income initiated with a Hold at Deutsche Bank
08/27/19
DBAB
08/27/19
INITIATION
DBAB
Hold
Realty Income initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Shivani Sood initiated coverage of Realty Income with a Hold rating and $73 price target.
09/03/19
MUFG
09/03/19
NO CHANGE
Target $83
MUFG
Overweight
Realty Income price target raised to $83 from $80 at MUFG
MUFG analyst Karin Ford raised her price target on Realty Income to $83 and kept her Overweight rating after the company announced a $1.25B net lease deal for CIM Real Estate Finance Trust properties. The analyst believes that the acquisition is attractive from pricing as well as credit quality standpoint and expects the deal to be accretive to the REIT's 2020 earnings.
10/10/19
JEFF
10/10/19
INITIATION
Target $99
JEFF
Buy
Realty Income initiated with a Buy rating at Jefferies
Jefferies analyst Jonathan Petersen initiated coverage of Realty Income with a Buy rating and $99 price target. The analyst views the company as an attractive investment in the retail net lease sector. Realty Income has a "solid" balance sheet its recent investments in Europe open a new path to growth and access to attractive debt rates, Petersen tells investors in a research note.
RJF Raymond James
$88.35

-1.29 (-1.44%)

03/06/19
03/06/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Voyager Therapeutics (VYGR) initiated with an Overweight at Cantor Fitzgerald. 2. L.B. Foster (FSTR) initiated with a Buy at B. Riley FBR. 3. Raymond James (RJF) initiated with a Buy at Argus. 4. Chegg (CHGG) initiated with a Buy at Berenberg. 5. Pinduoduo (PDD) initiated with a Buy at UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/11/19
COMP
03/11/19
INITIATION
Target $96
COMP
Buy
Raymond James initiated with a Buy at Compass Point
Compass Point initiated Raymond James with a Buy and $96 price target.
10/01/19
BUCK
10/01/19
NO CHANGE
BUCK
Discount brokerage changes not impacting full service brokers pricing, says Buckingham
Buckingham analyst James Mitchell notes that companies under his coverage with full service brokerage operations are underperforming on Wednesday on the news that Charles Schwab (SCHW) cut commissions on listed equity products. While the analyst understands "the knee-jerk reaction" in names such as Raymond James (RJF) and Morgan Stanley (MS), he would emphasize that full service brokers have very different service models and customer bases than the discount brokers. Mitchell does not see the recent developments in the discount brokerage industry as materially impacting the pricing model of the full service brokers, although he would expect pricing to continue to decline in line with historical trends. That said, he acknowledges that the pricing war among the e-brokers is likely to remain a sentiment headwind on the full service players in the near- term. The analyst has Buy ratings on both Raymond James and Morgan Stanley.
10/04/19
WELS
10/04/19
NO CHANGE
Target $78
WELS
Market Perform
Wells cuts estimates and targets for LPL Financial, Raymond James, Stifel
While keeping his Q3 estimates largely unchanged, Wells Fargo analyst Christopher Harris lowered his fiscal 2020 and 2021 earnings estimates for LPL Financial (LPLA), Raymond James (RJF) and Stifel Financial (SF) by 7%-8%. The lower estimates mostly reflect lower interest rates, says Harris, whose model now incorporates four 25 basis points cuts relative to Q2 of 2019 to the Fed Funds rate by Q1 of 2020, compared to a prior estimate of two. For Q3, the analyst's estimates are generally in line with consensus for LPL and Stifel but 3% above consensus for Raymond James. Harris also lowered his price target for Market Perform-rated LPL to $78 from $92, for Outperform-rated Raymond James to $87 from $98, and for Market Perform-rated Stifel to $59 from $66.
REG Regency Centers
$64.68

-0.13 (-0.20%)

08/16/19
SCOT
08/16/19
UPGRADE
Target $72
SCOT
Outperform
Regency Centers upgraded to Outperform from Sector Perform at Scotiabank
Scotiabank analyst Nicholas Yulico upgraded Regency Centers to Outperform from Sector Perform and raised his price target for the shares to $72 from $68.
10/21/19
EVER
10/21/19
DOWNGRADE
EVER
In Line
Regency Centers downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Samir Khanal downgraded Regency Centers to In Line from Outperform.
10/21/19
EVER
10/21/19
DOWNGRADE
Target $71
EVER
In Line
Regency Centers downgraded to In Line at Evercore ISI
Evercore ISI analyst Samir Khanal downgraded Regency Centers to In Line from Outperform with a price target of $71, down from $73. The analyst expects same store NOI growh to be at the lower end of the peer group in 2020.
11/04/19
SCOT
11/04/19
DOWNGRADE
SCOT
Sector Perform
Regency Centers downgraded to Sector Perform from Outperform at Scotiabank
Scotiabank analyst Nicholas Yulico downgraded Regency Centers to Sector Perform from Outperform.
RLJ RLJ Lodging Trust
$16.44

-0.19 (-1.14%)

12/11/18
WELS
12/11/18
NO CHANGE
WELS
Lodging sector downgraded to Underweight from Market Weight at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly downgraded his sector rating on the Lodging sector to Underweight from Market Weight. Deceleration in the outlook for domestic and global growth, rising labor costs and turnover, as well as the yield curve signaling higher risk of a nearing recession, will collectively make it challenging for the hotel sector to deliver accelerating growth and outperform, Donnelly tells investors in a research note. Within the sector, the analyst believes hotel brands are better positioned to outperform the hotel real estate investment trusts "given their healthy unit growth and lower sensitivity to economic shifts in the short run." He lowered his price target for Market Perform-rated Choice Hotels (CHH) to $80 from $82, for Outperform-rated Hilton (HLT) to $74 from $81, for Market Perform-rated Marriott (MAR) to $119 from $127, for Market Perform-rated RLJ Lodging Trust to $19 from $20, for Market Perform-rated Sunstone Hotel (SHO) to $15 from $16 and for Market Perform-rated Xenia Hotels (XHR) to $20 from $21.
05/15/19
WELS
05/15/19
UPGRADE
Target $20
WELS
Outperform
RLJ Lodging Trust upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly upgraded RLJ Lodging Trust to Outperform from Market Perform and raised his price target for the shares to $20 from $18. The analyst expects management to focus on the core business and believes they should be able to "frame a multi-year pipeline" of return on investment projects by year-end 2019. Further, the remnants of the non-core asset sales will be completed in the near-term, Donnelly tells investors in a research note. He believes RLJ Lodging Trust presents an attractive relative value.
06/25/19
SOCO
06/25/19
INITIATION
Target $21
SOCO
Equalweight
RLJ Lodging Trust initiated with an Equalweight at Capital One
Capital One initiated RLJ Lodging Trust with a Neutral and $21 price target.
07/16/19
RHCO
07/16/19
DOWNGRADE
RHCO
Sell
RLJ Lodging Trust downgraded to Sell from Hold at SunTrust
SKT Tanger Factory
$15.97

0.08 (0.50%)

12/19/18
JPMS
12/19/18
DOWNGRADE
Target $22
JPMS
Underweight
Tanger Factory downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Anthony Paolone downgraded Tanger Factory to Underweight and lowered his price target for the shares to $22 from $24. The downgrade is primarily driven by an improved outlook/preference for other property types in the REIT space, says the analyst.
03/25/19
BOSC
03/25/19
INITIATION
Target $27
BOSC
Outperform
Tanger Factory initiated with an Outperform at Boenning & Scattergood
Boenning & Scattergood analyst Merrill Ross initiated Tanger Factory with an Outperform and $27 price target.
05/09/19
GSCO
05/09/19
DOWNGRADE
Target $15
GSCO
Sell
Tanger Factory downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Caitlin Burrows downgraded Tanger Factory to Sell from Neutral and lowered her price target for the shares to $15 from $19.80. The analyst does not expect a near-term reacceleration in the company's earnings growth.
STOR Store Capital
$39.84

0.845 (2.17%)

04/23/19
BREN
04/23/19
INITIATION
Target $36
BREN
Buy
Store Capital initiated with a Buy at Berenberg
Berenberg analyst Nate Crossett initiated coverage of five small- to mid-cap net lease REITs, starting Store Capital with a Buy rating and $36 price target. Store Capital has higher growth and is trading at a discount compared to other net lease REIT, he said.
08/27/19
DBAB
08/27/19
INITIATION
DBAB
Buy
Store Capital initiated with a Buy at Deutsche Bank
08/27/19
DBAB
08/27/19
INITIATION
Target $40
DBAB
Buy
Store Capital initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Shivani Sood initiated coverage of Store Capital with a Buy rating and $40 price target. The company's focus on middle-market tenants allows it to generate better risk-adjusted returns as it pursues a wider growth channel than peers, Sood tells investors in a research note. The analyst says Store is positioning itself as a "banker alternative" to owners of real-estate centric businesses.
08/27/19
08/27/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Parsley Energy (PE) initiated with a Buy at MKM Partners. 2. Store Capital (STOR) initiated with a Buy at Deutsche Bank. 3. Zebra Technologies (ZBRA) initiated with an Overweight at Atlantic Equities. 4. BorgWarner (BWA) initiated with a Buy at Nomura Instinet. 5. CleanSpark (CLSK) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
SF Stifel Financial
$59.70

-1.83 (-2.97%)

05/09/19
GSCO
05/09/19
UPGRADE
GSCO
Buy
Stifel Financial upgraded to Buy from Neutral at Goldman Sachs
05/09/19
GSCO
05/09/19
UPGRADE
Target $70
GSCO
Buy
Goldman sees upside to Stifel estimates, upgrades shares to Buy
Goldman Sachs analyst Alexander Blostein upgraded Stifel Financial to Buy from Neutral and raised his price target for the shares to $70 from $55. The analyst sees upside to consensus earnings estimates from strengthening organic growth in wealth management, positive momentum in advisory, and utilization of capital. He believes Stifel's evolution toward wealth management and its capital utilization are being underappreciated at current share levels.
05/30/19
COMP
05/30/19
INITIATION
Target $65
COMP
Buy
Stifel Financial initiated with a Buy at Compass Point
Compass Point initiated Stifel Financial with a Buy and $65 price target.
SUI Sun Communities
$157.14

2.355 (1.52%)

03/26/19
WELS
03/26/19
DOWNGRADE
WELS
Market Perform
Sun Communities downgraded to Market Perform from Outperform at Wells Fargo
06/03/19
BMOC
06/03/19
NO CHANGE
Target $132
BMOC
Outperform
Sun Communities price target raised to $132 from $123 at BMO Capital
BMO Capital analyst John Kim raised his price target on Sun Communities to $132 and kept his Outperform rating after holding meetings with the company's Australian JV partner Ingenia. The analyst notes that the partnership represents a "compelling value proposition" for Sun Communities, with development returns in Australia's motorhomes being "significantly higher" given the high median home prices. Kim warns however that after a 15% decline in Australia housing market from its 2017 peak, he sees the slump as a key near-term risk.
UDR UDR, Inc.
$47.72

0.69 (1.47%)

09/16/19
SOCO
09/16/19
UPGRADE
SOCO
Overweight
UDR, Inc. upgraded to Overweight from Equalweight at Capital One
10/14/19
BARD
10/14/19
UPGRADE
BARD
Outperform
UDR, Inc. upgraded to Outperform from Neutral at Baird
11/07/19
MZHO
11/07/19
DOWNGRADE
Target $50
MZHO
Neutral
UDR, Inc. downgraded to Neutral from Buy at Mizuho
Mizuho analyst Haendel St. Juste downgraded UDR, Inc. (UDR) to Neutral from Buy with a $50 price target. The stock trades at its "highest multiple ever with little room for further multiple expansion," and the company faces supply headwinds in many of its core markets, St. Juste tells investors in a research note. As such, the analyst is "taking a chip off the table." He sees better relative risk- and growth-adjusted value in Aimco (AIV), MAA (MAA) and Camden Property Trust (CPT).
11/08/19
GSCO
11/08/19
INITIATION
Target $53
GSCO
Neutral
UDR, Inc. initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Richard Skidmore initiated coverage of UDR, Inc. with a Neutral rating and $53 price target. The analyst started 10 residential real estate investment trusts. Favorable demographic trends, limited disruption threat and strong cash and dividend characteristics drive his positive long-term view of the sector. Skidmore believes UDR's annual growth will be slightly below the Residential REIT average.
UBS UBS
$12.16

-0.17 (-1.38%)

08/30/19
08/30/19
DOWNGRADE

Fly Intel: Top analyst downgrade
Catch up on today's top analyst downgrades with this list compiled by The Fly: 1. Ulta Beauty (ULTA) downgraded to Neutral from Buy at Citi, to Neutral from Overweight at Piper Jaffray and Atlantic Equities, to Neutral from Outperform at Exane BNP Paribas, to Market Perform from Outperform at Wells Fargo, and to Equal Weight from Overweight at Morgan Stanley. 2. Toronto-Dominion (TD) downgraded to Market Perform from Outperform at BMO Capital with analyst Sohrab Movahedi saying he views the company's Q4 results as a "low-quality meet" and believes the stock's total return potential is now in line with other similarly rated banks. 3. Novo Nordisk (NVO) downgraded to Underperform from Hold at Jefferies with analyst Peter Welford saying he believes the shares at current levels are becoming expensive. 4. UBS (UBS) downgraded to Neutral from Outperform at Exane BNP Paribas. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/19
KPLR
09/10/19
UPGRADE
KPLR
Buy
UBS upgraded to Buy from Hold at Kepler Cheuvreux
10/22/19
EVER
10/22/19
DOWNGRADE
EVER
Underperform
UBS initiative to pressure retail asset managers like Invesco, says Evercore ISI
Evercore ISI analyst Glenn Schorr downgraded Invesco (IVZ) to Underperform from In Line after UBS (UBS) announced a unified initiative between its wealth management and asset management businesses to potentially revolutionize how clients access separately managed accounts including significantly reduced SMA pricing. In a research note to investors, Schorr says he thinks this could be an accelerant of price compression in retail asset management products. Schorr also downgraded Waddell & Reed (WDR) to Underperform.
10/22/19
EVER
10/22/19
DOWNGRADE
EVER
Underperform
Waddell & Reed downgraded at Evercore ISI after UBS announces new initiative
Evercore ISI analyst Glenn Schorr downgraded Waddell & Reed (WDR) to Underperform from In Line after UBS (UBS) announced a unified initiative between its wealth management and asset management businesses to potentially revolutionize how clients access separately managed accounts including significantly reduced SMA pricing. In a research note to investors, Schorr says he thinks this could be an accelerant of price compression in retail asset management products. Schorr also downgraded Invesco (IVZ) to Underperform.
WFC Wells Fargo
$53.27

-0.96 (-1.77%)

09/30/19
MSCO
09/30/19
NO CHANGE
Target $50
MSCO
Equal Weight
Morgan Stanley ups Wells target to $50 after CEO hiring, but stays on sidelines
Morgan Stanley analyst Betsy Graseck said the hiring of Charlie Scharf to become CEO at Wells Fargo is a positive that lifts "a big uncertainty" and she raised her price target on the bank's shares to $50 from $47 following the news. However, she remains on the sidelines until there is more clarity on when the Fed imposed asset cap and consent order can be lifted, estimating that it has added about $2B to the bank's expense base. She also wonders if Scharf will pursue further business rationalization, which could reset earnings expectations going forward. Graseck keeps an Equal Weight rating on Wells Fargo shares, though she sees a path to a potential $56 stock price over the longer-term once the consent order gets lifted.
09/30/19
09/30/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. TSMC (TSM) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Bruce Lu saying after a re-examination of industry capacity builds and order revisions, he thinks he's underestimating the positive impacts on TSMC arising from trade uncertainty. 2. Wells Fargo (WFC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar citing the company's appointment of Charlie Scharf as its new CEO. 3. Cigna (CI) upgraded to Outperform from Market Perform at BMO Capital with analyst Matthew Borsch claiming that the current 8-times his expected forward earnings valuation multiple is "attractive" as the stock represents a "better hedge" against political and health policy uncertainty. 4. Bed Bath & Beyond (BBBY) upgraded to Outperform from Neutral at Wedbush with analyst Seth Basham saying turning around declining retailers is a very difficult task, particularly amidst unfavorable secular trends and soft industry sales growth, but Bed Bath & Beyond has a "good chance of stabilization" in earnings over the next two years as its changes take hold. 5. Restaurant Brands (QSR) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump saying after calls with U.S. Burger King franchisees, he believes same-store sales for Restaurant Brands' Burger King concept were up 4.5%-5.0% in Q3 ahead of his prior estimate of 2.0% growth and consensus at up 3.4%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/22/19
ODEN
10/22/19
DOWNGRADE
ODEN
Hold
Wells Fargo downgraded to Hold from Buy at Odeon Capital
Odeon Capital analyst Richard Bove downgraded Wells Fargo to Hold from Buy despite his view of the bank as "one of the most powerful companies in the United States" in spite of "all of its problems and all of its challenges." However, Wells' net interest margins will remain under pressure, sending its net interest income lower, while its costs are unlikely to decline any time soon and it faces more legal and regulatory issues, Bove tells investors.
WRE Washington REIT
$30.32

-0.1 (-0.33%)

12/19/18
JPMS
12/19/18
DOWNGRADE
Target $25
JPMS
Underweight
Washington REIT downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Anthony Paolone downgraded Washington Real Estate Investment Trust to Underweight and lowered his price target for the shares to $25 from $28. Backfilling some key spaces with new tenants may be "elusive and/or expensive" when it comes to leasing packages, Paolone tells investors in a research note. Washington D.C. has continued to be an office market that underwhelms, says the analyst.
01/16/19
WELS
01/16/19
NO CHANGE
Target $26
WELS
Market Perform
Washington REIT price target lowered to $26 from $32 at Wells Fargo
Wells Fargo analyst Blaine Heck lowered his price target for Washington REIT to $26 from $32 to reflect the recent pull-back and contraction in market multiples across the REIT space. While the analyst is positive on Washington REIT's portfolio recycling strategy, he notes that the company will be dealing with downtime at several move-outs in 2019, the DC office market remains challenged, and he would like to see supply decrease before becoming more constructive on the stock. Heck reiterates a Market Perform rating on the shares.
05/14/19
BARD
05/14/19
DOWNGRADE
BARD
Neutral
Washington REIT downgraded to Neutral from Outperform at Baird
05/14/19
BARD
05/14/19
DOWNGRADE
Target $28
BARD
Neutral
Washington REIT downgraded to Neutral from Outperform at Baird
Baird analyst David Rodgers downgraded Washington REIT to Neutral from Outperform and lowered his price target to $28 from $30, telling investors in a research note that the challenging fundamentals underlying the company's current Metro D.C. portfolio are unlikely to improve in any meaningful way in the near-term. Rodgers says he views the risk-reward as balanced, given its "moderately" overleveraged balance sheet, a fair valuation for Class B, multi-property assets and a longer-term shift toward Multifamily that he thinks will prove dilutive, and says he is "incrementally cautious" on Washington REIT shares.
WY Weyerhaeuser
$28.98

-0.16 (-0.55%)

04/05/19
SPHN
04/05/19
UPGRADE
SPHN
Overweight
Weyerhaeuser upgraded to Overweight from Equal Weight at Stephens
04/05/19
SPHN
04/05/19
UPGRADE
Target $32
SPHN
Overweight
Weyerhaeuser upgraded to Overweight on lower rate risk at Stephens
As previously reported, Stephens analyst Mark Connelly upgraded Weyerhaeuser to Overweight from Equal Weight, noting that the stock, which is generally viewed as an income play, has sold off on rate concerns and slower starts. However, he sees much less rate risk "with the Fed clearly in a more accommodating mood lately" and also expects housing activity to pick up gradually. Weyerhaeuser's balance sheet is strong and Connelly sees little risk to the current dividend, he added in his note to investors. He raised his price target on Weyerhaeuser shares to $32 from $25.
04/05/19
04/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bed Bath & Beyond (BBBY) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Simeon Gutman saying he believes activist intervention presents the potential for upside for the stock in the near-term. 2. Snap (SNAP) upgraded to Hold from Sell at Summit Insights. 3. Northrop Grumman (NOC) upgraded to Positive from Neutral at Susquehanna. 4. Weyerhaeuser (WY) upgraded to Overweight from Equal Weight at Stephens with analyst Mark Connelly saying the stock, which is generally viewed as an income play, has sold off on rate concerns and slower starts. 5. Viacom (VIA, VIAB) upgraded to Outperform from Sector Perform at RBC Capital with analyst Steven Cahall saying the company's "less contentious" than feared DirecTV (T) deal improves its standing and "paves the way toward merger talks" with CBS (CBS). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/17/19
RBCM
09/17/19
NO CHANGE
RBCM
Outperform
Weyerhaeuser timberlands sales price 'well above' base case, says RBC Capital
RBC Capital analyst Paul Quinn keeps his Outperform rating on Weyerhaeuser but sees its $300M sale of Michigan timberlands assets as "modestly accretive" to his estimates. The analyst is positive on the transaction, saying the deal is "well above" his $228M base case asset valuation with a multiple of $545 per acre - above his $400 base case and $480 upside scenario value.

TODAY'S FREE FLY STORIES

BCS

Barclays

$8.98

0.01 (0.11%)

13:35
12/12/19
12/12
13:35
12/12/19
13:35
Options
Barclays put volume heavy and directionally bearish »

Bearish flow noted in…

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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GE

General Electric

$11.37

0.385 (3.51%)

13:20
12/12/19
12/12
13:20
12/12/19
13:20
Options
Largest trade of the day is a Jan 2021 GE 1x3 totalling 108K contracts »

Largest trade of the day…

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  • 29

    Jan

13:20
12/12/19
12/12
13:20
12/12/19
13:20
General news
Treasury's $16 B 30-year bond reopening was very, very well received »

Treasury's $16 B…

HIIQ

Health Insurance Innovations

$19.23

0.88 (4.80%)

13:17
12/12/19
12/12
13:17
12/12/19
13:17
Recommendations
Health Insurance Innovations analyst commentary  »

Health Insurance…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
12/12/19
12/12
13:17
12/12/19
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

03/08/13
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Citigroup
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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
12/12/19
12/12
13:16
12/12/19
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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13:08
12/12/19
12/12
13:08
12/12/19
13:08
General news
30-Yr Bond Auction Coupon Rate data reported »

30-Yr Bond Auction Coupon…

13:08
12/12/19
12/12
13:08
12/12/19
13:08
General news
30-Yr Bond Auction Total Amount data reported »

30-Yr Bond Auction Total…

INSG

Inseego

$7.67

0.24 (3.23%)

13:05
12/12/19
12/12
13:05
12/12/19
13:05
Options
Inseego call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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03/06/13
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AMRX

Amneal Pharmaceuticals

$5.16

1.675 (48.06%)

13:00
12/12/19
12/12
13:00
12/12/19
13:00
Recommendations
Amneal Pharmaceuticals analyst commentary  »

Amneal Pharmaceuticals…

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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VRTX

Vertex

$219.47

-0.59 (-0.27%)

, PTI

Proteostasis

$4.01

-0.23 (-5.42%)

12:55
12/12/19
12/12
12:55
12/12/19
12:55
Conference/Events
Cantor Fitzgerald biotech analysts to hold an analyst/industry conference call »

Biotechnology Analysts…

VRTX

Vertex

$219.47

-0.59 (-0.27%)

PTI

Proteostasis

$4.01

-0.23 (-5.42%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Dec

  • 19

    Mar

ADBE

Adobe

$304.30

0.55 (0.18%)

, AVGO

Broadcom

$324.00

4.14 (1.29%)

12:53
12/12/19
12/12
12:53
12/12/19
12:53
Earnings
Notable companies reporting after market close »

Notable companies…

ADBE

Adobe

$304.30

0.55 (0.18%)

AVGO

Broadcom

$324.00

4.14 (1.29%)

COST

Costco

$295.82

0.6 (0.20%)

ORCL

Oracle

$56.16

-0.15 (-0.27%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Dec

  • 12

    Dec

  • 12

    Dec

  • 12

    Dec

  • 23

    Jan

12:50
12/12/19
12/12
12:50
12/12/19
12:50
General news
U.S. Household net worth rose »

U.S. Household net worth…

12:50
12/12/19
12/12
12:50
12/12/19
12:50
General news
Treasury Action: yields remain near their highs of the sessio »

Treasury Action: yields…

CC

Chemours

$17.55

0.955 (5.75%)

12:45
12/12/19
12/12
12:45
12/12/19
12:45
Options
Chemours call volume above normal and directionally bullish »

Bullish option flow…

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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12:41
12/12/19
12/12
12:41
12/12/19
12:41
Hot Stocks
Breaking Hot Stocks news story  »

Liberty TripAdvisor…

12:36
12/12/19
12/12
12:36
12/12/19
12:36
Hot Stocks
Breaking Hot Stocks news story  »

Liberty TripAdvisor…

PBYI

Puma Biotechnology

$8.89

0.18 (2.07%)

12:32
12/12/19
12/12
12:32
12/12/19
12:32
Hot Stocks
Puma Biotechnology: plasmaMATCH trial shows neratinib activity in ERBB2 cancer »

Puma Biotechnology…

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GOOGL

Alphabet Class A

$1,344.42

-0.23 (-0.02%)

, GOOG

Alphabet

$1,346.41

1.27 (0.09%)

12:31
12/12/19
12/12
12:31
12/12/19
12:31
Hot Stocks
Google updates Messages with Verified SMS, spam protection »

Google announced in a…

GOOGL

Alphabet Class A

$1,344.42

-0.23 (-0.02%)

GOOG

Alphabet

$1,346.41

1.27 (0.09%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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GRUB

GrubHub

$41.93

1.7 (4.23%)

12:29
12/12/19
12/12
12:29
12/12/19
12:29
Conference/Events
GrubHub participates in a conference call with Benchmark »

Services/Media Analyst…

03/08/13
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TWTR

Twitter

$30.12

-0.44 (-1.44%)

12:28
12/12/19
12/12
12:28
12/12/19
12:28
Hot Stocks
Twitter to bring back Election Labels for upcoming U.S. election »

Twitter said in a blog…

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  • 06

    Feb

GOOGL

Alphabet Class A

$1,344.61

-0.04 (-0.00%)

, GOOG

Alphabet

$1,347.00

1.86 (0.14%)

12:28
12/12/19
12/12
12:28
12/12/19
12:28
On The Fly
Fly Intel: What to watch in Oracle's earnings report »

Oracle (ORCL) is…

GOOGL

Alphabet Class A

$1,344.61

-0.04 (-0.00%)

GOOG

Alphabet

$1,347.00

1.86 (0.14%)

IBM

IBM

$134.98

1.17 (0.87%)

AMZN

Amazon.com

$1,749.62

0.51 (0.03%)

MSFT

Microsoft

$151.85

0.03 (0.02%)

ORCL

Oracle

$56.15

-0.16 (-0.28%)

03/08/13
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03/06/13
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03/06/13
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  • 12

    Dec

BA

Boeing

$346.49

-3.51 (-1.00%)

12:26
12/12/19
12/12
12:26
12/12/19
12:26
Periodicals
Boeing CEO to meet with FAA chief Steve Dickson on Thursday, Reuters reports »

Boeing CEO Dennis…

03/08/13
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03/06/13
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03/06/13
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FOSL

Fossil

$7.72

0.36 (4.89%)

12:25
12/12/19
12/12
12:25
12/12/19
12:25
Options
Fossil Group 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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XOM

Exxon Mobil

$69.87

0.92 (1.33%)

, INTC

Intel

$57.44

0.4 (0.70%)

12:25
12/12/19
12/12
12:25
12/12/19
12:25
Conference/Events
Intel to hold a webinar »

Intel Customer Spotlight…

XOM

Exxon Mobil

$69.87

0.92 (1.33%)

INTC

Intel

$57.44

0.4 (0.70%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Dec

  • 23

    Jan

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