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PING

Ping Identity

$16.50

-0.25 (-1.49%)

, SNDL

Sundial Growers

$3.62

-0.16 (-4.23%)

18:51
11/13/19
11/13
18:51
11/13/19
18:51

Fly Intel: After Hours Movers

UP AFTER EARNINGS: Ping Identity (PING) up 14.0%... Sundial Growers (SNDL) up 10.5%... ProPetro Holding (PUMP) up 8.3%... Perspecta (PRSP) up 7.9%.... Hillenbrand (HI) up 7.7%... Copa Holdings (CPA) up 6.9%... Personalis (PSNL) up 6.3%... Turquoise Hill (TRQ) up 4.6%... Catasys (CATS) up 4.4%... Lantronix (LTRX) up 3.5%. DOWN AFTER EARNINGS: Super League Gaming (SLGG) down 8.2%... Beazer Homes (BZH) down 5.3%... Cisco (CSCO) down 5.1%... Tetra Tech (TTEK) down 3.7%... NetApp (NTAP) down 1.0%. ALSO LOWER: Fulgent Genetics (FLGT) down 12.1% after equity offering. Movers as of 18:30ET.

PING

Ping Identity

$16.50

-0.25 (-1.49%)

SNDL

Sundial Growers

$3.62

-0.16 (-4.23%)

PUMP

ProPetro Holding

$7.34

-0.36 (-4.68%)

PRSP

Perspecta

$27.79

-0.18 (-0.64%)

HI

Hillenbrand

$31.53

-1 (-3.07%)

CPA

Copa Holdings

$107.71

1.89 (1.79%)

PSNL

Personalis

$10.92

0.745 (7.33%)

TRQ

Turquoise Hill

$0.46

-0.006 (-1.29%)

CATS

Catasys

$14.60

-0.47 (-3.12%)

LTRX

Lantronix

$3.15

0.06 (1.94%)

SLGG

Super League Gaming

$3.06

0.07 (2.34%)

BZH

Beazer Homes

$14.67

0.21 (1.45%)

CSCO

Cisco

$48.44

0.06 (0.12%)

TTEK

Tetra Tech

$88.38

1.24 (1.42%)

NTAP

NetApp

$60.04

-0.08 (-0.13%)

FLGT

Fulgent Genetics

$13.62

0.11 (0.81%)

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PING Ping Identity
$16.50

-0.25 (-1.49%)

11/06/19
FBCO
11/06/19
INITIATION
Target $21
FBCO
Outperform
Ping Identity initiated with an Outperform at Credit Suisse
Credit Suisse initiated coverage of Ping Identity with an Outperform rating and $21 price target.
10/14/19
10/14/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ping Identity (PING) initiated with an Outperform at Wells Fargo, Raymond James, Oppenheimer, Raymond James, RBC Capital, and William Blair, an Overweight at Barclays, as well as a Buy at Mizuho, Citi, BofA/Merrill, Goldman Sachs, Stifel, and Deutsche Bank. 2. Envista (NVST) initiated with an Outperform at Evercore ISI, an Overweight at JPMorgan, a Buy at Jefferies, Goldman Sachs, and Stifel, an Equal Weight at Morgan Stanley, as well as a Neutral at Credit Suisse and BofA/Merrill. 3. Datadog (DDOG) initiated with an Outperform at William Blair, an Overweight at JPMorgan and Barclays, a Buy at Stifel and Needham, an Equal Weight at Morgan Stanley, a Sector Perform at RBC Capital, a Market Perform at Raymond James and JMP Securities, a Neutral at Goldman Sachs, and a Hold at Jefferies. 4. Beyond Meat (BYND) initiated with a Market Perform on valuation at Wells Fargo. 5. Bloom Energy (BE) assumed with an Overweight at KeyBanc. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
SBSH
10/14/19
INITIATION
SBSH
Citi expands Software coverage with two Buys and one Sell
Citi analyst Walter Pritchard expanded his Security coverage by initiating Okta (OKTA) and Ping Identity (PING) with Buy ratings, Zscaler (ZS) with a Neutral rating, and Crowdstrike (CRWD) with a Sell rating. While Crowdstrike's recent growth has generated a lot of excitement, its market opportunity is largely pegged to the end-point security market, where peak leadership share has been around 10%, Pritchard tells investors in a research note. He believes the company's expansion into adjacencies will be challenging "as they are crowded already." The analyst sees potential for Ping Identity's growth to accelerate and believes Okta's "aggressive" product roadmap should enable the company to capitalize on an underestimated total addressable market. On Zscaler, the analyst sees a "still lofty multiple" and balanced risk/reward profile.
11/06/19
FBCO
11/06/19
INITIATION
Target $21
FBCO
Outperform
Ping Identity initiated with an Outperform at Credit Suisse
Credit Suisse analyst Brad Zelnick initiated coverage of Ping Identity with an Outperform rating and $21 price target. In a research note to investors, Zelnick says he "appreciates" Ping's leadership in Identity & Access Management and says the company is a "standout category leader" with "compelling" valuation.
SNDL Sundial Growers
$3.62

-0.16 (-4.23%)

09/10/19
BMOC
09/10/19
UPGRADE
BMOC
Outperform
BMO upgrades Sundial Growers to Outperform after share decline
BMO Capital analyst Tamy Chen last night upgraded Sundial Growers to Outperform from Market Perform with an unchanged price target of $12. The current valuation implies 2020 revenues of C$220M, says the analyst, which is well below her forecast of C$490M. While there remains execution uncertainty in the industry, Sundial shares are now reflecting an overly cautious revenue outlook in the context of the company's results to date, Chen tells investors in a research note. As a result, the analyst believes the current stock price "could offer a stronger return relative to some of its peers."
10/30/19
BMOC
10/30/19
DOWNGRADE
BMOC
Market Perform
Sundial Growers downgraded to Market Perform from Outperform at BMO Capital
10/31/19
BMOC
10/31/19
DOWNGRADE
Target $4
BMOC
Market Perform
BMO downgrades Sundial Growers to Market Perform on lower cannabis demand
BMO Capital analyst Tamy Chen downgraded Sundial Growers to Market Perform from Outperform with a price target of $4, down from $8. Recent developments suggest there is now less demand and lower pricing in the licensed cannabis producer to licensed cannabis producer market as more producers have ramped production, Chen tells investors in a research note. The analyst points out that the producer-to-producer channel represents the majority of Sundial's current revenues. As a result, Chen believes Sundial will continue to be attributed a lower relative multiple until the company can demonstrate a "clearer pathway towards a meaningful presence" in the recreational cannabis market.
09/27/19
LEHM
09/27/19
INITIATION
Target $7
LEHM
Overweight
Sundial Growers initiated with an Overweight at Barclays
Barclays analyst Lauren Lieberman initiated Sundial Growers with an Overweight rating and $7 price target, citing her view that the company can set itself apart from peers given a focus on profitable growth. Sundial is already nearly profitable in its Canadian home market, noted Lieberman, who thinks its acquisition of Bridge Farm should enable the company to ultimately become a low-cost mass-scale producer of CBD products.
PUMP ProPetro Holding
$7.34

-0.36 (-4.68%)

10/18/19
RILY
10/18/19
NO CHANGE
Target $17
RILY
Buy
ProPetro Holding price target lowered to $17 from $29 at B. Riley FBR
B. Riley FBR analyst Thomas Curran lowered his price target for ProPetro Holding to $17 from $29 citing the "lingering unknowns" of the audit committee's review of internal and disclosure controls. The analyst, however, finds ProPetro's latest update, especially the management changes, encouraging and believes the stock's risk/reward "remains compelling." He keeps a Buy rating on the shares.
10/10/19
PIPR
10/10/19
UPGRADE
Target $12
PIPR
Overweight
ProPetro Holding upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst John Daniel upgraded ProPetro Holding to Overweight from Neutral with a price target of $12, down from $17. Last night's investigation update is encouraging and does not point to any evidence of a government investigation. Daniel tells investors in a research note. . One would assume if any investigation of that type were underway, it would be disclosed, says the analyst.
10/10/19
RAJA
10/10/19
NO CHANGE
Target $14
RAJA
Outperform
ProPetro price target lowered to $14 from $20 at Raymond James
Raymond James analyst Praveen Narra lowered his price target for ProPetro Holdings to $14 from $20 after the company announced that its internal review is substantially complete. While the review will result in several management roles being different, management as a whole is largely intact with Dale Redman remaining as the CEO, which should remove a large overhang, Narra tells investors in a research note. With the largest overhang of the investigation removed, NArra expects the stock to outperform despite the weak guidance. He reiterates an Outperform rating.
09/12/19
COWN
09/12/19
DOWNGRADE
Target $11
COWN
Market Perform
ProPetro Holding downgraded to Market Perform from Outperform at Cowen
Cowen analyst Marc Bianchi downgraded ProPetro Holdings to Market Perform form Outperform. The analyst noted the company has passed its 30-day review period from when the company announced an internal issue and no update has been given. He believes the audit committee's review will likely be a binary event for the stock which he has no comfort in estimating. Bianchi has an $11 price target on ProPetro Holdings shares.
PRSP Perspecta
$27.79

-0.18 (-0.64%)

06/03/19
MSCO
06/03/19
INITIATION
Target $20
MSCO
Underweight
Perspecta initiated with an Underweight at Morgan Stanley
Morgan Stanley analyst Matthew Sharpe initiated coverage of the Government Services industry, starting Perspecta with an Underweight rating and $20 price target. He sees the company's outlook being challenged in the near- to mid-term given its significant contract recompete risk, Sharpe tells investors. Perspecta's elevated leverage also raises its risk and likely limits capital returns, said Sharpe.
06/10/19
COWN
06/10/19
DOWNGRADE
Target $26
COWN
Market Perform
Perspecta downgraded to Market Perform from Outperform at Cowen
Cowen analyst Gautam Khanna downgraded Perspecta to Market Perform from Outperform and lowered his price target for the shares to $26 from $28 after assuming primary coverage of the name. While the company's "underlying momentum is strong,"the stock's risk/reward into the binary NGEN-R re-compete award is "uncompelling," Khanna tells investors in a researchh note. Further, Perspecta has fewer "levers" to drive earnings growth while its margins are unlikely to expand much from the current levels and its balance sheet is levered, adds the analyst.
06/07/19
LOOP
06/07/19
NO CHANGE
Target $22
LOOP
Hold
Perspecta price target raised to $22 from $19 at Loop Capital
Loop Capital analyst Joseph Vafi raised his price target on Perspecta to $22 after its "steady" Q4 results, saying that after a 1.6-times book-to-bill report in the prior quarter, Q4's 1.2-times came amid "light" conditions for recompetes. The analyst also notes that the company's initial FY20 guidance saw few surprises on the top line, even though margins were forecasted closer to the lower end of its long-term range. Vafi believes that Perspecta can generate further operational efficiencies in 2019 but also warns about the renewal risk given the company's "large NGEN-R adjudication" expected later this year, keeping his Hold rating on the shares.
05/09/19
GSCO
05/09/19
INITIATION
Target $21
GSCO
Sell
Perspecta initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Gavin Parsons started Perspecta with a Sell rating and $21 price target. The analyst expects the company to grow revenue at the slowest pace in his coverage reflecting near-term headwinds and reversing tailwinds in Background Investigations. However, Parsons initiated coverage of US Government IT & Services with a favorable outlook on the sector. He believes we are in the "sweet-spot" of a Defense budget upturn and expects the sector to outperform the market, with "multiple years" of growth ahead.
HI Hillenbrand
$31.53

-1 (-3.07%)

10/07/19
KEYB
10/07/19
DOWNGRADE
KEYB
Sector Weight
Milacron downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Jeffrey Hammond downgraded Milacron to Sector Weight from Overweight saying he thinks the stock action will be heavily weighted on expectations that its merger with Hillenbrand (HI) will close on time in Q1 of 2020. At current prices, Milacron trades tight to the implied deal price of $16.50, which assumes $11.80 in cash and 0.1612 shares of Hillenbrand for every share of Milacron, Hammond tells investors in a research note.
07/15/19
DADA
07/15/19
UPGRADE
DADA
Buy
Hillenbrand upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Matt Summerville is positive on Hillenbrand's $2B acquisition of Milacron announced last week, upgrading the stock to Buy from Neutral with an unchanged price target of $43. The analyst calls the deal "transformational" toward becoming a more diversified global enterprise and sees a "significant cash accretion potential" from the transaction. Summerville further states that the 13% sell-off on Friday after the deal was announced is overdone and creates an attractive entry point for Hillenbrand stock.
07/31/19
BARD
07/31/19
DOWNGRADE
Target $17
BARD
Neutral
Milacron downgraded to Neutral at Baird
As reported previously, Baird analyst Michael Halloran downgraded Milacron (MCRN) to Neutral from Outperform. The analyst said Q2 results were solid relative to sentiment with EBITDA outperforming his expectations on lower than expected revenue and margin upside. The company is due to be acquired by Hillenbrand (HI) and Halloran believes the implied price of $17.39 with cash and stock captures the stock's value.
07/15/19
07/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Buy from Neutral at BofA/Merrill. 2. Brinker (EAT) upgraded to Overweight from Neutral at JPMorgan with analyst John Ivankoe saying the stock has become more attractive after the 9.5% pullback following the company's fiscal Q3 results. 3. Hilton (HLT) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump citing valuation. 4. Crocs (CROX) upgraded to Overweight from Neutral at Piper Jaffray with analyst Erinn Murphy saying channel checks suggest the company's outlets have been seeing "solid" traffic during the summer season while pricing appears to be better versus the April/May season. 5. Hillenbrand (HI) upgraded to Buy from Neutral at DA Davidson with analyst Matt Summerville saying he is positive on Hillenbrand's $2B acquisition of Milacron announced last week, calling the deal "transformational" toward becoming a more diversified global enterprise and sees a "significant cash accretion potential" from the transaction. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CPA Copa Holdings
$107.71

1.89 (1.79%)

08/09/19
RAJA
08/09/19
UPGRADE
RAJA
Outperform
Copa Holdings upgraded to Outperform from Market Perform at Raymond James
08/09/19
08/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. STMicroelectronics (STM) upgraded to Buy from Neutral at Goldman Sachs with analyst Alexander Daval saying he had previously been cautious given risks to second half of 2019 estimates, but he now believes these are be baked into the reset fiscal year guidance. 2. Jack in the Box (JACK) upgraded to Outperform from Neutral at Wedbush with analyst Nick Setyan saying that in light of current same-store sales growth and margin trends, it expects investors to reassess management's fiscal 2022 EBITDA and free cash flow targets of $300M and $175M, respectively, as "realistic," which could ultimately result in a higher valuation. 3. Symantec (SYMC) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Keith Weiss saying the pending acquisition by Broadcom (AVGO) of the company's Enterprise Business puts a floor on the valuation of that unit. 4. Copa Holdings (CPA) and ViaSat (VSAT) upgraded to Outperform from Market Perform at Raymond James. 5. IAC (IAC) upgraded to Buy from Neutral at Guggenheim with analyst Jake Fuller saying he sees ongoing improvement in the visibility of the company's sum-of-the-parts story. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/19
UBSW
09/27/19
UPGRADE
UBSW
Buy
Copa Holdings upgraded to Buy from Neutral at UBS
08/27/19
EVER
08/27/19
UPGRADE
EVER
Outperform
Copa Holdings upgraded to Outperform from In Line at Evercore ISI
PSNL Personalis
$10.92

0.745 (7.33%)

09/26/19
BOFA
09/26/19
UPGRADE
BOFA
Buy
Personalis upgraded to Buy from Neutral at BofA/Merrill
09/26/19
BOFA
09/26/19
UPGRADE
BOFA
Buy
Bruker, PerkinElmer, Personalis upgraded to Buy at BofA/Merrill
BofA/Merrill analyst Derik de Bruin upgraded Bruker (BRKR), PerkinElmer (PKI), and Personalis (PSNL) to Buy from Neutral as part of his broader research note into Life Sciences & Diagnostic Tools. The analyst notes that the recent market volatility has sent many of the names in the sector "sharply lower", making their valuations more attractive. de Bruin is also positive on Bruker's new product portfolio and margin expansion opportunity. As part of the research note, the analyst cuts Myriad Genetics (MYGN) to Underperform from Neutral and lowers his price target on the shares to $28 from $30 after a bounce in its stock price and given his concern with its mixed execution.
07/15/19
COWN
07/15/19
INITIATION
COWN
Outperform
Personalis initiated with an Outperform at Cowen
Cowen analyst Doug Schenkel initiated Personalis with an Outperform as he sees it as an emerging biopharma partner to aid in the development of high growth IO programs, including bespoke therapies.
07/15/19
MSCO
07/15/19
INITIATION
Target $28
MSCO
Overweight
Personalis initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst David Lewis initiated Personalis with an Overweight rating and $28 price target, citing his view that the company's NeXT platform is positioned to gain share as the oncology market moves toward targeted therapies. Additionally, Personalis does not have direct reimbursement risk as do peers that potentially have exposure via companion diagnostics, Lewis tells investors.
TRQ Turquoise Hill
$0.46

-0.006 (-1.29%)

07/16/19
TDSI
07/16/19
DOWNGRADE
TDSI
Speculative Buy
Turquoise Hill downgraded to Speculative Buy from Buy at TD Securities
TD Securities analyst Craig Hutchison downgraded Turquoise Hill to Speculative Buy from Buy and lowered his price target on the shares to C$2.25 from C$4.00.
07/17/19
CIBC
07/17/19
DOWNGRADE
CIBC
Neutral
Turquoise Hill downgraded to Neutral from Outperformer at CIBC
CIBC analyst Oscar Cabrera downgraded Turquoise Hill to Neutral from Outperformer, citing what he sees as an uncertain development plan and its capital expense overrun.
07/16/19
EGHT
07/16/19
DOWNGRADE
EGHT
Neutral
Turquoise Hill downgraded to Neutral from Buy at Eight Capital
Eight Capital analyst Ralph Profiti downgraded Turquoise Hill to Neutral from Buy and lowered his price target for the shares to C$3 from C$4.50.
10/11/19
MACQ
10/11/19
UPGRADE
MACQ
Outperform
Turquoise Hill upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Hayden Bairstow upgraded Turquoise Hill to Outperform from Neutral with a C$1 price target.
CATS Catasys
$14.60

-0.47 (-3.12%)

05/07/19
DOTC
05/07/19
INITIATION
Target $25
DOTC
Buy
Catasys initiated with a Buy at Dougherty
Dougherty analyst Gene Mannheimer initiated Catasys with a Buy and $25 price target.
02/13/19
OPCO
02/13/19
INITIATION
Target $16
OPCO
Outperform
Catasys initiated with an Outperform at Oppenheimer
Oppenheimer analyst Mohan Naidu initiated Catasys with an Outperform rating and $16 price target, citing the company's proprietary process in "identifying and engaging undiagnosed behavioral health patients". The analyst notes that the "rising awareness of mental health issues and health plans' appetite" positions the company for growth in the near future with an estimated total addressable market opportunity of $4.5B across 3.3M people suffering from substance abuse, anxiety and depression disorders.
05/10/19
ADAM
05/10/19
NO CHANGE
Target $26
ADAM
Buy
Catasys price target raised to $26 from $15 at Canaccord
Canaccord analyst Richard Close raised his price target for Catasys to $26 from $15 and reiterated a Buy rating, saying since the June 2018 initiation, Catasys has performed above expectations and experienced significant increases in the outreach pool from 31K to May 2019's 92K. Assuming a 20% enrollment rate puts the company on track to generate $100M+ in annual revenue within the next couple of years, Close tells investors in a research note.
02/14/19
02/14/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Catasys (CATS) initiated with an Outperform at Oppenheimer. 2. Harmonic (HLIT) initiated with a Buy at Needham. 3. Allegheny Technologies (ATI) initiated with an Outperform at Macquarie. 4. ABM (ABM) initiated with a Buy at Maxim. 5. CSG (CSGS) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
LTRX Lantronix
$3.15

0.06 (1.94%)

SLGG Super League Gaming
$3.06

0.07 (2.34%)

03/25/19
LSCM
03/25/19
INITIATION
Target $15
LSCM
Buy
Super League Gaming initiated with a Buy at Lake Street
Lake Street analyst Mark Argento started Super League Gaming with a Buy rating and $15 price target. The company's platform is "taking competitive amateur video gaming out of the basement and into organized, social events that bring amateur esports participants together with gaming and consumer brands to create a unique media and entertainment experience," Argento tells investors in a research note. He expects Super League's business to achieve scale over the next three years.
03/18/19
03/18/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Western Asset Mortgage (WMC) initiated with a Market Perform at Keefe Bruyette. 2. Cars.com (CARS) initiated with a Neutral at Goldman Sachs. 3. Super League Gaming (SLGG) initiated with an Outperform at Northland. 4. Arcus Biosciences (RCUS) initiated with a Buy at BTIG, while Momenta (MNTA) initiated with a Neutral. 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
NATL
03/11/19
INITIATION
Target $15
NATL
Buy
Super League Gaming initiated with a Buy at National Securities
National Securities analyst Ilya Grozovsky initiated Super League Gaming with a Buy and $15 price target saying the company is addressing a greenfield opportunity in amateur e-sports. Grozovsky believes Super League Gaming is an effective way to participate in the multi-year growth of e-sports as it quickly has become a rival to traditional sports.
03/18/19
NORL
03/18/19
INITIATION
NORL
Outperform
Super League Gaming initiated with an Outperform at Northland
Northland analyst Michael Latimore with an Outperform and $15 price target.
BZH Beazer Homes
$14.67

0.21 (1.45%)

CSCO Cisco
$48.44

0.06 (0.12%)

11/12/19
RBCM
11/12/19
INITIATION
Target $56
RBCM
Outperform
RBC Capital assumes Cisco with Outperform rating, $56 price target
As previously reported. RBC Capital analyst Robert Muller assumed coverage of Cisco with an Outperform rating and $56 price target. Cisco is in the process of shifting more of its revenue to a subscription basis, which should reduce earnings volatility, while the company currently holds about a 55% market share of the campus switch market and Muller expects it to be the top provider of enterprise networking solutions longer term.
11/12/19
RBCM
11/12/19
INITIATION
Target $56
RBCM
Outperform
Cisco assumed with an Outperform at RBC Capital
RBC Capital analyst Robert Muller assumed coverage of Cisco with an Outperform rating and $56 price target.
11/11/19
11/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst James Faucette saying the stock is up 33% since August as Qualcomm's multiple has expanded relative to other semiconductor companies, which he attributes to the market assigning a high probability of a China-U.S. trade agreement, investors becoming more comfortable in a view that the FTC case won't materially impact the company's business, and expectations for the coming of 5G. 2. Lumentum (LITE) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Meta Marshall saying operating margins have improved 300-400 basis points year-over-year since the Oclaro transaction closed and 3D sensing inventory correction issues that disrupted the trajectory last year did not repeat this year. 3. Cisco (CSCO) downgraded to Neutral from Overweight at Piper Jaffray with analyst James Fish citing a slowing macro environment across Enterprise and Service Provider, cycles hitting a peak earlier this year, a lack of a near-term catalyst, and risk to fiscal 2020 and 2021 estimates for the downgrade. 4. L Brands (LB) downgraded to Hold from Buy at Deutsche Bank with analyst Paul Trussell saying his monthly promo watch indicates promotions remain at elevated levels. 5. Expedia (EXPE) downgraded to Perform from Outperform at Oppenheimer with analyst Jed Kelly citing accelerating paid marketing, ADR pressures and Vrbo losing domestic share, all creating a tougher dynamic to sustain double-digit EBITDA growth than previously thought. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/11/19
PIPR
11/11/19
DOWNGRADE
Target $51
PIPR
Neutral
Cisco downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst James Fish downgraded Cisco Systems to Neutral from Overweight with a price target of $51, down from $55. The stock closed Friday up 41c to $48.83. The analyst cities a slowing macro environment across Enterprise and Service Provider, cycles hitting a peak earlier this year, a lack of a near-term catalyst, and risk to fiscal 2020 and 2021 estimates for the downgrade. However, he sees share downside as "fairly limited from here," with Cisco's software transition producing better free cash flow, its 3% dividend yield, and "material 2021 catalysts" like 5G and 400G switching. Fish just sees better opportunities for out-performance in other parts of his coverage.
TTEK Tetra Tech
$88.38

1.24 (1.42%)

01/29/19
ROTH
01/29/19
NO CHANGE
Target $66
ROTH
Buy
Tetra Tech price target lowered to $66 from $73 at Roth Capital
Roth Capital analyst Gerry Sweeney lowered his price target for Tetra Tech to $66 from $73 ahead of quarterly results driven by a lower multiple due to overall increased risk. The analyst anticipates continued broad-based strength across the company's customer segments in the quarter, supported by record backlog. Near-term volatility in oil prices may dampen mid stream spending near-term, which could modestly trim margin expectations in 2H19, he contents. Sweeney reiterates a Buy rating on the shares.
05/06/19
ROTH
05/06/19
NO CHANGE
Target $75
ROTH
Buy
Tetra Tech price target raised to $75 from $66 at Roth Capital
Roth Capital analyst Gerry Sweeney raised his price target for Tetra Tech to $75 from $66 following quarterly results. The analyst notes that CIG margins were below target, but adds that these should improve substantially in the second half of 2019 driven by booked activity and run down of very low margin work in Canadian oil. State and Local could be the driver of upside versus guidance in the second half of the year, he contends. Sweeney reiterates a Buy rating on the shares.
08/06/19
ROTH
08/06/19
NO CHANGE
Target $84
ROTH
Buy
Tetra Tech price target raised to $84 from $75 at Roth Capital
Roth Capital analyst Gerry Sweeney raised his price target for Tetra Tech to $84 from $75 following quarterly results. The analyst notes that increased backlog, visibility, revenue and EPS beat prompted management to raise 2019 guidance. Sweeney reiterates a Buy rating on the shares.
04/09/19
SIDC
04/09/19
INITIATION
Target $79
SIDC
Buy
Tetra Tech re-initiated with a Buy at Sidoti
Sidoti re-initiated Tetra Tech with a Buy rating and $79 price target.
NTAP NetApp
$60.04

-0.08 (-0.13%)

11/06/19
OTRG
11/06/19
INITIATION
OTRG
Negative
OTR Global's read on NetApp's channel business is negative
OTR Global 's read on NetApp's channel business is negative saying checks indicate Q2 2020 remained weak due to competition, staff departures, and overall execution issues.
11/07/19
LBOW
11/07/19
NO CHANGE
LBOW
Neutral
NetApp Q2 estimates raised following checks at Longbow
Longbow analyst Nikolay Todorov raised his EPS forecast for NetApp's (NTAP) fiscal second quarter to the mid-point of guidance, which he notes is ahead of consensus, after a better than anticipated uptick in server and storage spending pointed to in his quarterly IT reseller checks. Though sales cycles remain elongate, resellers are forecasting a seasonal pickup in spending in the calendar fourth quarter, driven by an end of year budget flush, Todorov said. Following his storage and server industry checks, he keeps Neutral ratings on NetApp and HP Enterprise (HPE).
09/30/19
MSCO
09/30/19
NO CHANGE
Target $41
MSCO
Underweight
NetApp checks show sequential decrease in storage demand, says Morgan Stanley
Morgan Stanley analyst Katy Huberty said her early channel checks suggest broad demand for storage was weaker quarter-over-quarter, which leads her to believes that NetApp and other storage vendors are likely to miss sales expectations at value-added resellers, or VARs, in the third calendar quarter. Her checks with VARs additionally indicate that performance with NetApp weakened incrementally and the level of discounting increased quarter-over-quarter, Huberty tells investors. Following her channel work, she reiterates an Underweight rating and $41 price target on NetApp shares.
10/10/19
GSCO
10/10/19
DOWNGRADE
Target $45
GSCO
Sell
NetApp downgraded to Sell from Buy at Goldman Sachs
Goldman Sachs analyst Rod Hall double downgraded NetApp to Sell from Buy with a price target of $45, down from $61. The company's guidance is optimistic in an environment where large enterprise spending appears to be deteriorating further, Hall tells investors in a research note. NetApp's fiscal 2020 revenue guidance implies a recovery in core product revenue growth despite the slowdown in July, says the analyst, who notes that his firm's analysis suggests large enterprise spending is likely to continue to decline in the midst of ongoing trade and economic uncertainty. Hall believes NetApp's fundamentals are likely to continue to weaken and his revised target price implies 12% downside.
FLGT Fulgent Genetics
$13.62

0.11 (0.81%)

11/05/19
PIPR
11/05/19
UPGRADE
Target $12.3
PIPR
Overweight
Fulgent Genetics upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst William Quirk upgraded Fulgent Genetics to Overweight from Neutral with a price target of $12.30, up from $9.50. The company reported "strong" volume growth for the fourth consecutive quarter with a 272% year-over-year increase in Q3, Quirk tells investors in a research note. Further, Fulgent's margins continue to improve substantially despite the slight average selling price decrease, driven by better productivity and higher test volume, says the analyst. As such, he believes the stock deserves a higher multiple.
04/26/19
FBCO
04/26/19
DOWNGRADE
FBCO
Neutral
Fulgent Genetics downgraded to Neutral from Outperform at Credit Suisse
08/06/19
PIPR
08/06/19
NO CHANGE
Target $9.5
PIPR
Neutral
Fulgent Genetics price target raised to $9.50 from $5.30 at Piper Jaffray
Piper Jaffray analyst William Quirk raised his price target for Fulgent Genetics to $9.50 from $5.30 following the company's better than expected Q2 results. The quarter was driven by a significant uptick in volumes, with 16,369 easily surpassing management's 10,000 test guidance, Quirk tells investors in a research note. Further, the analyst views management's raised 2019 revenue guidance to at least $29M as conservative. Nonetheless, the analyst keeps a Neutral rating on Fulgent Genetics.

TODAY'S FREE FLY STORIES

AUTL

Autolus Therapeutics

$14.60

-0.18 (-1.22%)

07:19
12/09/19
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Autolus Therapeutics to host conference call »

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  • 09

    Dec

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    Dec

SPCE

Virgin Galactic

$7.28

0.07 (0.97%)

07:17
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Virgin Galactic initiated  »

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    Dec

TCBI

Texas Capital

$57.82

0.76 (1.33%)

, IBTX

Independent Bank

$59.23

1 (1.72%)

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IBTX

Independent Bank

$59.23

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ZLAB

Zai Lab

$41.25

0.11 (0.27%)

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PEGI

Pattern Energy

$27.45

0.02 (0.07%)

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MMM

3M

$171.49

7.13 (4.34%)

07:12
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12/09
07:12
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07:12
Downgrade
3M rating change  »

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  • 10

    Dec

FTV

Fortive

$72.86

0.5 (0.69%)

, MMM

3M

$171.49

7.13 (4.34%)

07:11
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07:11
Upgrade
Fortive, 3M rating change  »

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FTV

Fortive

$72.86

0.5 (0.69%)

MMM

3M

$171.49

7.13 (4.34%)

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  • 09

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ORAN

Orange SA

$15.02

-0.055 (-0.36%)

07:10
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07:10
Downgrade
Orange SA rating change  »

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KMDA

Kamada

$7.36

-0.025 (-0.34%)

07:10
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Kamada enters into binding term sheet, sees product adding $8M-$10M in revenue »

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CSIQ

Canadian Solar

$18.35

0.39 (2.17%)

07:09
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07:09
Hot Stocks
Canadian Solar authorizes $150M share repurchase program »

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ETNB

89bio

$28.38

0.86 (3.13%)

07:09
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07:09
Initiation
89bio initiated  »

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SONG

Akazoo

$5.40

-0.12 (-2.17%)

07:08
12/09/19
12/09
07:08
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07:08
Earnings
Akazoo reports Q3 EPS EUR0.03 vs, EUR0.02 last year »

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ECC

Eagle Point Credit

$15.03

-0.01 (-0.07%)

07:08
12/09/19
12/09
07:08
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07:08
Upgrade
Eagle Point Credit rating change  »

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TXN

Texas Instruments

$122.36

1.6 (1.32%)

07:07
12/09/19
12/09
07:07
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07:07
Conference/Events
Texas Instruments management to meet with UBS »

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  • 09

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  • 16

    Dec

KALV

KalVista

$14.36

0.25 (1.77%)

, MRK

Merck

$88.84

0.09 (0.10%)

07:06
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KalVista says KVD001 does not meet primary endpoint »

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KALV

KalVista

$14.36

0.25 (1.77%)

MRK

Merck

$88.84

0.09 (0.10%)

03/08/13
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  • 10

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  • 24

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  • 05

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VTNR

Vertex Energy

$1.59

(0.00%)

07:05
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T

AT&T

$38.20

-0.01 (-0.03%)

07:05
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Conference/Events
AT&T management to meet with UBS »

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  • 09

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  • 29

    Jan

NOW

ServiceNow

$272.19

-0.94 (-0.34%)

07:03
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Conference/Events
ServiceNow management to meet with UBS »

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  • 09

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RCKT

Rocket Pharmaceuticals

$22.37

2.61 (13.21%)

07:03
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Rocket Pharmaceuticals announces preliminary data from RP-L201 Phase 1/2 trial »

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

07:03
12/09/19
12/09
07:03
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07:03
Recommendations
Agios Pharmaceuticals analyst commentary  »

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  • 09

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

07:01
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07:01
Recommendations
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  • 09

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CI

Cigna

$198.96

3.44 (1.76%)

07:00
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Conference/Events
Cigna management to meet with Stephens »

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AMAT

Applied Materials

$56.60

0.77 (1.38%)

06:59
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06:59
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06:59
Conference/Events
Applied Materials management to meet with UBS »

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  • 09

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CGC

Canopy Growth

$18.65

0.07 (0.38%)

, STZ

Constellation Brands

$183.60

1.13 (0.62%)

06:58
12/09/19
12/09
06:58
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06:58
Recommendations
Cantor sees over 66% chance of Constellation bidding for Canopy Growth »

Cantor Fitzgerald analyst…

CGC

Canopy Growth

$18.65

0.07 (0.38%)

STZ

Constellation Brands

$183.60

1.13 (0.62%)

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  • 08

    Jan

MTG

MGIC Investment

$14.10

-0.03 (-0.21%)

06:58
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MGIC Investment issues November operating statistics »

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