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WYND

Wyndham Destinations

$47.82

0.58 (1.23%)

, WYNN

Wynn Resorts

$118.64

-0.22 (-0.19%)

04:55
11/15/19
11/15
04:55
11/15/19
04:55

Deutsche Bank to hold a conference

Gaming, Lodging, Leisure & Restaurant 1:1 Conference will be held in Miami on November 14-15.

WYND

Wyndham Destinations

$47.82

0.58 (1.23%)

WYNN

Wynn Resorts

$118.64

-0.22 (-0.19%)

WH

Wyndham Hotels & Resorts

$54.35

0.22 (0.41%)

WYN

Wyndham

$0.00

(0.00%)

VICI

VICI Properties

$24.58

0.24 (0.99%)

TH

Target Hospitality

$4.74

0.04 (0.85%)

INN

Summit Hotel Properties

$11.94

0.37 (3.20%)

SGMS

Scientific Games

$30.00

-0.7 (-2.28%)

RHP

Ryman Hospitality

$87.65

0.45 (0.52%)

RRR

Red Rock Resorts

$21.92

0.62 (2.91%)

RCL

Royal Caribbean

$115.22

0.41 (0.36%)

VAC

Marriott Vacations

$119.46

2.27 (1.94%)

MGM

MGM Resorts

$31.09

0.05 (0.16%)

NCLH

Norwegian Cruise Line

$52.41

0.3 (0.58%)

PENN

Penn National

$21.73

-0.24 (-1.09%)

AGS

PlayAGS

$11.96

0.305 (2.62%)

LVS

Las Vegas Sands

$62.38

0.23 (0.37%)

HLT

Hilton

$98.84

1.05 (1.07%)

GDEN

Golden Entertainment

$18.10

1.1 (6.47%)

GLPI

Gaming and Leisure Properties

$42.30

-0.18 (-0.42%)

FLL

Full House Resorts

$3.00

0.045 (1.52%)

STAY

Extended Stay America

$14.69

0.12 (0.82%)

ERI

Eldorado Resorts

$51.17

0.37 (0.73%)

DIN

Dine Brands

$76.61

-2.45 (-3.10%)

CPLG

CorePoint Lodging

$10.39

0.56 (5.70%)

CLDT

Chatham Lodging

$17.93

0.345 (1.96%)

FUN

Cedar Fair

$56.48

-0.44 (-0.77%)

BYD

Boyd Gaming

$29.09

0.04 (0.14%)

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    Dec

WYND Wyndham Destinations
$47.82

0.58 (1.23%)

08/30/19
JEFF
08/30/19
NO CHANGE
Target $62
JEFF
Buy
Jefferies sees upside in Wyndham Destinations after management meeting
In a research note titled "The Battle of Fact vs. Fiction," Jefferies analyst David Katz says his meeting with Wyndham Destinations management addressed and reinforced several key aspects, which he expects should push the stock higher over time. First, the company's capital allocation is likely to be more return-focused and consistent, Katz tells investors. Second, he believes the improvements in the business model position Wyndham better to manage a recession. The risk and valuation "dichotomy between the equity and credit markets continues to suggest upside," contends the analyst. He keeps a Buy rating on the shares with a $62 price target.
01/14/19
NOMU
01/14/19
UPGRADE
Target $52
NOMU
Buy
Wyndham Destinations upgraded to Buy with $52 target at Nomura Instinet
Nomura Instinet analyst Harry Curtis upgraded Wyndham Destinations (WYND) to Buy from Neutral and raised his price target for the shares to $52 from $51.45. Following the spinoff of Wyndham Hotels & Resorts (WH), the analyst sees upside to EBITDA and earnings outlooks from lower loan-loss provisions, new sales leads, and share repurchases.
02/27/19
RHCO
02/27/19
NO CHANGE
Target $72
RHCO
Buy
Wyndham Destinations price target raised to $72 from $62 at SunTrust
SunTrust analyst C. Patrick Scholes raised his price target on Wyndham Destinations to $72 and kept his Buy rating after its Q4 results and citing his rolled out model to 2020. The analyst notes that he was surprised that the stock was not higher given the company's progress on loan loss provisions which moved down 150bps sequentially to 18.3% and also points to the increase in customer satisfaction levels as a result of the company's engagement efforts.
03/20/19
FBCO
03/20/19
INITIATION
Target $50
FBCO
Neutral
Wyndham Destinations assumed with a Neutral at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Wyndham Destinations with a Neutral rating and $50 price target.
WYNN Wynn Resorts
$118.64

-0.22 (-0.19%)

11/07/19
UGAM
11/07/19
DOWNGRADE
Target $135
UGAM
Hold
Wynn Resorts downgraded to Hold from Buy at Union Gaming
Union Gaming analyst John DeCree downgraded Wynn Resorts to Hold from Buy with a price target of $135, down from $150.
09/24/19
GSCO
09/24/19
UPGRADE
Target $155
GSCO
Buy
Wynn Resorts upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Stephen Grambling upgraded Wynn Resorts (WYNN) to Buy from Neutral and raised his price target for the shares to $155 from $140. The company's free cash flow is set to inflect as major capital projects are completed, Grambling tells investors in a research note. Further, Wynn's projects ramping in Boston and Las Vegas should provide domestic growth while leading indicators and recent data points suggest Macau gaming revenue is stabilizing with potential for upside, adds the analyst. Grambling raised price targets across the gaming space for those companies exposed to Macau. The space is set for outperformance, says the analyst, who now has Buy ratings on Las Vegas Sands (LVS), Red Rock Resorts (RRR), VICI Properties (VICI) and Wynn Resorts.
09/24/19
09/24/19
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 Hold at Jefferies with analyst Kyle McNealy saying the Street underestimates Apple's position for the 5G cycle and potential upside from additional mid-range volume driving Services expansion. 2. Southern Copper (SCCO) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Carlos De Alba citing a more "balanced" risk-reward profile. 3. Wynn Resorts (WYNN) upgraded to Buy from Neutral at Goldman Sachs with analyst Stephen Grambling saying the company's free cash flow is set to inflect as major capital projects are completed. 4. Snap (SNAP) upgraded to Buy from Neutral at Guggenheim with analyst Michael Morris saying the company is well positioned to outperform the Internet and Media space through year end and provide an investor return of nearly 30% over the next 12 months. 5. Ralph Lauren (RL) upgraded to Overweight from Neutral at Atlantic Equities with analyst Daniela Nedialkova saying the market is pricing in a risk to earnings and a near-term recession, leaving the shares at a "highly depressed" valuation level not seen since the 2009 recession.This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/08/19
NOMU
10/08/19
NO CHANGE
Target $117
NOMU
Buy
Wynn Resorts price target lowered to $117 from $126 at Nomura Instinet
Nomura Instinet analyst Harry Curtis lowered his price target for Wynn Resorts to $117 from $126 while keeping a Buy rating on the name. With pressure continuing on estimates, the stock "will do well to tread water through 2019," Curtis tells investors in a research note. However, he believes most of the estimate cut risk should be in the stock given its "trough valuation."
WH Wyndham Hotels & Resorts
$54.35

0.22 (0.41%)

09/11/19
JEFF
09/11/19
NO CHANGE
Target $72
JEFF
Buy
Wyndham valuation discount should continue to narrow, says Jefferies
Jefferies analyst David Katz says a meeting with management reinforced his belief that Wyndham Hotels & Resorts' valuation discount to peers should continue to narrow as its "execution and track record become more prominent." The analyst believes "several misconceptions" are weighing on shares, including that the default notice equates to immediate lost earnings and that its unit growth is limited. Katz is most constructive on Wyndham among the lodging companies as he believes the stock has the "clearest path for outperformance." He keeps a Buy rating on Wyndham Hotels & Resorts with a $72 price target.
10/30/19
BARD
10/30/19
NO CHANGE
Target $62
BARD
Outperform
Wyndham Hotels & Resorts offers attractive risk/reward profile, says Baird
Baird analyst Michael Bellisario said Wyndham Hotels and Resorts continue to offer an attractive risk/reward profile and he remains a buyer of the shares. The analyst said the better-than-expected Q3 results demonstrated free-cash-flow clarity which he believes will lead to valuation multiple expansion over time. He said he maintains his Top Pick designation on the stock. Bellisario reiterated his Outperform rating and $62 price target on Wyndham Hotels & Resorts shares.
09/19/19
GSCO
09/19/19
DOWNGRADE
Target $37
GSCO
Neutral
Hilton Grand Vacations downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Stephen Grambling downgraded Hilton Grand Vacations (HGV) to Neutral from Buy while raising his price target for the shares to $37 from $35. While leveraged buyout internal rate of returns could be attractive to $40 per share or higher, other names in the Lodging space offer better risk-adjusted returns, Grambling tells investors in a research note. The analyst's estimates remain below management's long-term earnings target and consensus in fiscal 2021 as he anticipates a slower sell-through of owned inventory. The delayed sell-through is likely to also postpone any free cash flow inflection and raise Hilton Grand Vacations' earnings risk in the near term in the event of any macro deterioration, contends Grambling. The analyst this morning also upgraded Hyatt Hotels (H) to Buy from Neutral and reiterated Buy ratings on Marriott (MAR), Hilton (HLT) and Wyndham Hotels & Resorts (WH). Marriott is on his firm's Conviction List.
10/17/19
JEFF
10/17/19
DOWNGRADE
Target $22
JEFF
Hold
Xenia Hotels downgraded to Hold on valuation at Jefferies
Jefferies analyst David Katz downgraded Xenia Hotels & Resorts (XHR) to Hold from Buy with a price target of $22, down from $26. The analyst cites valuation for the downgrade following the stock's recent outperformance year-to-date on the positive transformation of its portfolio. In addition, the analyst expects mid-range valuations to compress in the Lodging space. Absent of improved visibility or growth, Katrz has "limited enthusiasm for Lodging stocks." He prefers Wyndham Hotels & Resorts (WH) and Park Hotels & Resorts (PK) for their growth opportunities and earnings potential relative to their valuations. Katz also cut his price targets for names across the Lodging sector.
WYN Wyndham
$0.00

(0.00%)

VICI VICI Properties
$24.58

0.24 (0.99%)

11/11/19
NOMU
11/11/19
NO CHANGE
Target $45
NOMU
Neutral
Gaming REITs remain in early stages of re-rating, says Nomura Instinet
Nomura Instinet analyst Daniel Adam believes the Gaming Real Estate Investment Trust space is still in the early stages of an industry re-rating. The analyst raised his price target for Neutral-rated Gaming and Leisure Properties (GLPI) to $45 from $42, for Buy-rated MGM Growth (MGP) to $43 from $40 and for Buy-rated VICI Properties (VICI) to $35 from $32.
08/26/19
08/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Dish (DISH) double upgraded to Strong Buy from Market Perform at Raymond James with analyst Richard Prentiss saying following the recent pullback on investor concerns about the shift from a spectrum bank to a wireless operator, now is the "opportune time" to buy shares of Dish. 2. Lyft (LYFT) upgraded to Buy from Neutral at Guggenheim with analyst Jake Fuller saying improving U.S. ride hail competitive dynamics and Lyft's "surprising leverage to that trend" should allow the company to reach EBITDA positive in 2021 versus prior expectations of 2023. 3. Canopy Growth (CGC) upgraded to Buy from Neutral at Seaport Global with analyst Brett Hundley saying Canopy shares have now "round-tripped themselves" year-to-date, and are down 7.4% compared to a 13.6% increase in the S&P 500. 4. Copel (ELP) upgraded to Overweight from Neutral at JPMorgan with analyst Fernando Abdalla saying the company's cash flows are expanding in 2019 and its leverage coming down with the start-up of important greenfield projects. 5. VICI Properties (VICI) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Thomas Allen saying the stock has underperformed since the merger announcement between Eldorado Resorts (ERI) and Caesars Entertainment (CZR) on concerns that the deal will result in greater tenant risk, but he believes that it makes Caesar's rent "better covered by free cash flows" in a recession and that the underperformance is overdone. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/26/19
08/26/19
UPGRADE
Target $26

Overweight
VICI Properties raised to Overweight at Morgan Stanley on non-gaming opportunity
As previously reported, Morgan Stanley analyst Thomas Allen upgraded VICI Properties (VICI) to Overweight from Equal Weight and raised his price target to $26 from $25. The analyst notes that the stock has underperformed since the merger announcement between Eldorado Resorts (ERI) and Caesars Entertainment (CZR) on concerns that the deal will result in greater tenant risk, but he believes that it makes Caesar's rent "better covered by free cash flows" in a recession and that the underperformance is overdone. Allen also cites the company's recent investor presentation highlighting its non-gaming asset expansion opportunity.
TH Target Hospitality
$4.74

0.04 (0.85%)

05/23/19
FBCO
05/23/19
INITIATION
Target $13
FBCO
Outperform
Target Hospitality initiated with an Outperform at Credit Suisse
Credit Suisse analyst Kevin Mcveigh started coverage of Target Hospitality with an Outperform rating and $13 price target. With constructive commodity prices, multiple new business opportunities, low leverage, "strong" free cash flow generation, and "solid growth" in the Permian basin, the analyst sees multiple upside levers in Target Hospitality.
05/23/19
05/23/19
INITIATION
Target $13

Outperform
Oppenheimer bullish on Target Hospitality, initiates with an Outperform
As previously reported, Oppenheimer analyst Scott Schneeberger started coverage of Target Hospitality with an Outperform rating and $13 price target. The analyst cited Target's positioning to garner continued expansion and new contract wins via the breadth of its network, primarily in the Permian basin; its value-added service offerings; and long-term customer contracts, predominantly including guaranteed payment provisions, which average more than three years in duration and provide revenue stability/visibility and a formidable competitive moat.
05/23/19
05/23/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Elanco (ELAN) initiated with a Neutral at Guggenheim. 2. Cooper Tire (CTB) initiated with an Overweight at KeyBanc while Goodyear Tire (GT) was initiated with a Sector Weight. 3. SciPlay (SCPL) initiated with a Buy at Craig-Hallum and an Overweight at Stephens. 4. Target Hospitality (TH) initiated with an Outperform at Credit Suisse and Oppenheimer. 5. Allogene Therapeutics (ALLO) initiated with a Hold at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/03/19
NORL
06/03/19
INITIATION
Target $13
NORL
Outperform
Target Hospitality initiated with an Outperform at Northland
Northland analyst Jeff Grampp initiated Target Hospitality with an Outperform rating and $13 price target. In a research note to investors, Grampp says he thinks the company's durable margins, blue-chip customer base with multi-year contracts and exposure to strong growth areas make it a compelling investment, following the close of its SPAC business combination in March.
INN Summit Hotel Properties
$11.94

0.37 (3.20%)

01/07/19
BOFA
01/07/19
DOWNGRADE
BOFA
Underperform
Summit Hotel Properties downgraded to Underperform from Neutral at BofA/Merrill
01/07/19
01/07/19
DOWNGRADE
Target $10

Underperform
Summit Hotel Properties downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded Summit Hotel Properties to Underperform from Neutral and lowered its price target to $10 from $12. Analyst Shaun Kelley expects select service hotels to continue to be impacted by rising labor/fixed costs and to have greater margin pressure than full service peers due given their more efficient operation structure. Kelley notes Summit's net leverage is above peers which increases risk in a period of decelerating RevPAR growth.
06/25/19
SOCO
06/25/19
INITIATION
Target $13
SOCO
Summit Hotel Properties at Capital One
Capital One initiated Summit Hotel Properties with a Neutral and $13 price target.
SGMS Scientific Games
$30.00

-0.7 (-2.28%)

11/11/19
SUSQ
11/11/19
DOWNGRADE
SUSQ
Neutral
Scientific Games downgraded to Neutral from Positive at Susquehanna
Susquehanna analyst Joseph Stauff downgraded Scientific Games to Neutral from Positive.
11/11/19
SUSQ
11/11/19
DOWNGRADE
Target $25
SUSQ
Neutral
Scientific Games downgraded to Neutral at Susquehanna
As reported previously, Susquehanna analyst Joseph Stauff downgraded Scientific Games to Neutral from Positive. The analyst believes the stock's recent move already prices in its better than expected results and the high probability of the refinancing of its 10% notes. Stauff lowered his price target to $25 from $32 on Scientific Games shares.
05/08/19
DBAB
05/08/19
NO CHANGE
Target $22
DBAB
Hold
Scientific Games price target lowered to $22 from $26 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli lowered his price target for Scientific Games to $22 from $26 saying that while the headline Q1 numbers were in-line, the company's performance was mixed, and broadly boosted by some lottery hardware sales in the period, which masked softness in other segments. The analyst keeps a Hold rating on the shares.
10/22/19
RHCO
10/22/19
NO CHANGE
RHCO
Buy
Brazil win potentially meaningful for Scientific Games and IGT, says SunTrust
The Brazilian government recently announced that a 50-50 joint venture consortium led by Scientific Games (SGMS) and International Game Technology (IGT) has won the tender to run Lotex, the Brazilian instant lottery scratch card business, SunTrust analyst Barry Jonas tells investors in a research note. The analyst sees the win as a "potentially meaningful long-term opportunity" for both companies, pointing out that Scientific Games management noted it could eventually be among the company's largest contracts. He believes Scientific Games' current largest contract, the Italian Lottery, contributes ~$60M in adjusted EBITDA. While a solid long-term opportunity, it will likely take some time for Brazil to ramp, at least two-to-three years, says Jonas. The analyst has a Buy rating on both Scientific Games and International Game Technology.
RHP Ryman Hospitality
$87.65

0.45 (0.52%)

07/09/19
07/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 3M (MMM) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray expecting the overhang on the shares from macro pressures and litigation to persist. 2. Marriott (MAR) and Hilton (HLT) downgraded to Neutral from Overweight at JPMorgan, while Ryman Hospitality (RHP) and CorePoint Lodging (CPLG) were downgraded to Underweight from Neutral. 3. Alcoa (AA) downgraded to Neutral from Outperform at Macquarie. 4. First Business Financial (FBIZ) downgraded to Neutral from Buy at DA Davidson with analyst Kevin Reevey saying the rating change is driven purely by the recent 33% advance in the stock price from its 52-week lows to within 6% of its 52-week highs. 5. Myriad Genetics (MYGN) downgraded to Market Perform from Outperform at Cowen with analyst Doug Schenkel citing a combination of lower overall conviction in Myriad and a less attractive relative 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.
11/11/19
RHCO
11/11/19
NO CHANGE
Target $85
RHCO
Hold
Ryman Hospitality price target raised to $85 from $78 at SunTrust
SunTrust analyst C. Patrick Scholes raised his price target on Ryman Hospitality to $85 after its Q3 earnings beat, saying the company continues to be on a roll and warrants a "slightly higher" multiple relative to its peers based on its "strong EBITDA growth" expected in 2020. The analyst is keeping his Hold rating on the shares longer term however, noting that while Ryman is benefiting from a late-lodging cycle environment and strong Entertainment sector growth, the uncertain macro outlook and rising labor costs may weigh on its margin growth.
09/03/19
WELS
09/03/19
NO CHANGE
WELS
Hurricane Dorian should further mute growth for lodging industry, says Wells Fargo
Noting that the lodging industry was already experiencing a relatively week Q3 to date, Wells Fargo analyst Dori Kesten says that the impact of Hurricane Dorian over Labor Day weekend and now this week should further mute growth. Lodging companies with the largest exposure to these coastal markets, as well as Orlando whose airport closed and Miami which is still expected to experience tropical storm force winds, include Ryman Hospitality Properties (RHP), Hyatt Hotels (H), Xenia Hotels & Resorts (XHR), Park Hotels & Resorts (PK), and Hersha Hospitality (HT), with over 10% of rooms exposed, he notes. Excluding Orlando, the analyst believes those with the greatest exposure would be Hersha Hospitality, RLJ Lodging Trust, and Apple Hospitality REIT (APLE).
07/09/19
JPMS
07/09/19
DOWNGRADE
JPMS
JPMorgan 'increasingly cautious' on Lodging, downgrades four names
JPMorgan analyst Joseph Greff is "increasingly cautious" on valuations in the Lodging space. Recent share performance, "peak" valuations, an extended cycle and decelerating industry trends all point to "diminished upside" from current share levels, Greff tells investors in a research note. On "more even" risk/reward profiles, the analyst downgraded both Marriott (MAR) and Hilton (HLT) to Neutral from Overweight. Greff also downgraded both Ryman Hospitality (RHP) and CorePoint Lodging (CPLG) to Underweight from Neutral as he sees more risk to the downside. The analyst's only remaining Overweight-rated names are Wyndham Hotels & Resorts (WH) and Extended Stay America (STAY).
RRR Red Rock Resorts
$21.92

0.62 (2.91%)

08/27/19
NOMU
08/27/19
NO CHANGE
Target $26
NOMU
Buy
Red Rock Resorts price target lowered to $26 from $36 at Nomura Instinet
Nomura Instinet analyst Harry Curtis lowered his price target for Red Rock Resorts to $26 from $36 to reflect reduced Las Vegas EBITDA estimates, mostly due to a disappointing ramp at the Palms. The analyst, however, believes this is already reflected in the shares. As such, he keeps a Buy rating on Red Rock Resorts.
06/14/19
WOLF
06/14/19
INITIATION
WOLF
Peer Perform
Red Rock Resorts initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Jared Shojaian started Red Rock Resorts with a Peer Perform rating.
11/06/19
UGAM
11/06/19
DOWNGRADE
Target $22
UGAM
Hold
Red Rock Resorts downgraded to Hold from Buy at Union Gaming
Union Gaming analyst John DeCree downgraded Red Rock Resorts to Hold from Buy with a price target of $22, down from $25.
RCL Royal Caribbean
$115.22

0.41 (0.36%)

10/04/19
MSCO
10/04/19
NO CHANGE
MSCO
Royal Caribbean, Norwegian still sounding upbeat, says Morgan Stanley
Morgan Stanley analyst Jamie Rollo said following his meetings with senior management of Carnival (CCL), Norwegian Cruise Line (NCLH) and Royal Caribbean (RCL) that the management teams of both of the latter two cruise line operators expressed surprise at the weak outlook cited by Carnival last week. Apart from a short-term impact from hurricane Dorian, neither Royal nor Norwegian said they have seen a demand slowdown and Norwegian additionally said it has not seen a softening of its onboard revenue, which it considers to be the best real time indicator of consumer health, reported Rollo, who said both of the companies "still sound upbeat." Rollo has Equal Weight ratings on Carnival and Royal Caribbean and an Overweight rating on shares of Norwegian.
10/18/19
MACQ
10/18/19
UPGRADE
Target $132
MACQ
Outperform
Royal Caribbean upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Paul Golding upgraded Royal Caribbean to Outperform from Neutral with a price target of $132, up from $126. At the "current near-trough" price-to-earnings multiple, Royal Caribbean shares offer "substantially more upside than downside," Golding tells investors in a research note. While near-term results could be "messy," Hurricane Dorian is a one-time event, and booking sentiment remains strong aside from Dorian, says the analyst.
09/23/19
NOMU
09/23/19
NO CHANGE
NOMU
Nomura says Royal Caribbean, Norwegian weakness overdone on Thomas Cook news
Nomura Instinet analyst Harry Curtis notes that cruise stocks are lower today following the bankruptcy filing by Thomas Cook, which he believes is due to fears about the industry's financial exposure to the U.K. firm. However, the industry's exposure is "insignificant" as cruise bookings for Thomas Cook are "miniscule" relative to the firm's air and hotel businesses, said Curtis. Royal Caribbean (RCL) booked only 20,000-25,000 passengers per year through Q3 and Norwegian Cruise Line's (NCLH) exposure is even smaller, at roughly 2,000 bookings, according to Curtis, who said both were paid in cash at or before sailing. The analyst recommends using today's pullback as an opportunity to accumulate shares of those two cruise line operators. In afternoon trading, Royal Caribbean shares are down 2%, Norwegian shares are down 1% and industry peer Carnival (CCL) has fallen 2%.
10/14/19
JPMS
10/14/19
NO CHANGE
Target $138
JPMS
Overweight
JPMorgan positive on Royal Caribbean, Norwegian into Q3 reports
JPMorgan analyst Brandt Montour is positive on shares of Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH) into the Q3 earnings reports. "Reasonably good" results and outlooks against a backdrop of "muted" expectations, poor sentiment and valuations near multi-year lows, will be enough to move the stocks higher, Montour tells investors in a research note. He expects both companies to report "solid" Q3 results, keep 2019 EPS guidance intact, and generally sound upbeat regarding 2020 bookings. Montour keeps an Overweight rating on both Royal and Norwegian, with reduced price targets of $138 and $59, respectively.
VAC Marriott Vacations
$119.46

2.27 (1.94%)

08/20/19
JPMS
08/20/19
UPGRADE
JPMS
Overweight
Marriott Vacations upgraded to Overweight from Neutral at JPMorgan
11/06/19
RHCO
11/06/19
NO CHANGE
Target $155
RHCO
Buy
Marriott Vacations price target raised to $155 from $147 at SunTrust
SunTrust analyst Patrick Scholes raised his price target on Marriott Vacations to $155 and kept his Buy rating after its Q3 results. The analyst says the company continues to generate a lot of cash and return capital to shareholders while also making progress with its Vistana acquisition and in its digital marketing efforts.
08/20/19
JPMS
08/20/19
UPGRADE
Target $118
JPMS
Overweight
Marriott Vacations upgraded to Overweight at JPMorgan
JPMorgan analyst Brandt Montour upgraded Marriott Vacations to Overweight from Neutral, with a $118 price target. The analyst believes the New York Post article about Apollo Global (APO) looking to either take Hilton Grand Vacations (HGV) private or merge with its Diamond Resorts as credible, and sees the $36 potential takeout price cited by the publication as credible. The implied valuation ultimately makes Marriott Vacations look too cheap to ignore, he contends, adding that he sees it as the best positioned of the three public timeshare companies in terms of fundamentals, given its self-help levers for value creation, and its flexible points-based sales model supporting relatively smoother sales growth compared to peer Hilton Grand Vacations.
11/14/19
JEFF
11/14/19
NO CHANGE
Target $142
JEFF
Buy
Marriott Vacations shares can keep working, says Jefferies
After hosting investor meetings with management, Jefferies analyst David Katz has "incremental support" for his positive thesis on Marriott Vacations Worldwide and sees "little reason for hesitation." He expects management to continue executing and the stock to keep working. The analyst reiterates a Buy rating on the shares with a $142 price target.
MGM MGM Resorts
$31.09

0.05 (0.16%)

10/16/19
MSCO
10/16/19
NO CHANGE
Target $32
MSCO
Equal Weight
MGM deals for Bellagio, Circus-Circus better than expected, says Morgan Stanley
Morgan Stanley analyst Thomas Allen said MGM Resorts' (MGM) sale-leaseback of Bellagio in a deal with Blackstone (BX) and its sale of Circus-Circus to an affiliate of Treasure Island owner Phil Ruffin came at higher multiples than he expected, prompting him to raise his price target on MGM shares to $32 from $31. However, Allen keeps an Equal Weight rating on MGM shares, citing his concerns around Las Vegas risk in Q4 and questions about the achievability of its 2020 targets.
09/17/19
MSCO
09/17/19
NO CHANGE
MSCO
Las Vegas Sands, MGM, Wynn targets cut at Morgan Stanley on Macau estimate cuts
Morgan Stanley analysts Thomas Allen and Praveen Choudhary lowered their expectations for Macau, stating they now expects gross gaming revenue to decline 3% in 2019 and grow 3% in 2020. The analysts previously forecast a 1% decline in GGR for 2019 and an 8% increase in 2020. Allen lowered his price target on Las Vegas Sands (LVS) to $66 from $68, cut his target on MGM Resorts (MGM) to $31 from $32 and reduced his Wynn Resorts (WYNN) target to $115 from $129, explaining that the Wynn cut is most pronounced since it is most exposed to Macau and to the weak high-end there. He maintains an Overweight rating on Las Vegas Sands, which he views as the most defensive and with potential Japan upside. Allen has Equal Weight ratings on MGM and Wynn shares.
09/06/19
JPMS
09/06/19
NO CHANGE
JPMS
JPMorgan sees number of events hurting Macau gross gaming revenue
A number of events are negatively impacting Macau gross gaming revenue performance, including increasing China-U.S. trade tensions, Hong Kong protests, slowing economic growth in Mainland China, and potential issues related to the city's largest junket, JPMorgan analyst Joseph Greff tells investors in a research note. As a result, the analyst lowered his Macau property level estimates for the four U.S. listed Macau operators, Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Resorts & Entertainment (MLCO) and Wynn Resorts (WYNN). Greff, however, continues to see value in the Macau operators. He keeps a Neutral rating on Las Vegas Sands and dropped his price target to $60 from $68, an Overweight rating on MGM and lowered his price target to $36 from $37, an Overweight rating on Melco and lowered his price target to $25 from $29, and an Overweight rating on Wynn Resorts with a slightly reduced price target of $136.
08/22/19
MSCO
08/22/19
NO CHANGE
MSCO
Las Vegas Sands' Osaka decision good for it and MGM, says Morgan Stanley
After Las Vegas Sands (LVS) announced that it is not pursuing a license in Osaka, choosing to focus on Tokyo and Yokohama, Morgan Stanley analyst Thomas Allen said he believes the company may be making the right long-term decision. He also views the news as a potential positive for MGM Resorts (MGM), which he thinks is now "in pole position" to win the Osaka license. Both MGM and Las Vegas Sands will face intense competition from other global gaming companies for licenses in Japan, added Allen.
NCLH Norwegian Cruise Line
$52.41

0.3 (0.58%)

09/04/19
ARGS
09/04/19
NO CHANGE
Target $68
ARGS
Buy
Norwegian Cruise Line has room to boost capacity, says Argus
Argus analyst John Staszak keeps his Buy rating and $68 price target on Norwegian Cruise Line, saying that as a relatively smaller cruise line, the company has more room to boost capacity over the next several years. The analyst cites Norwegian Cruise Line's plans to spend $1B per year to build new ships over the next several years and expects the added ships to generate "more revenue per berth." Based on the company's balance sheet, Staszak also believes that its stock is valued attractively.
PENN Penn National
$21.73

-0.24 (-1.09%)

11/01/19
11/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HP Enterprise (HPE) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Penn National (PENN) downgraded to Hold from Buy at Jefferies with analyst David Katz saying management has been clear in their intention is to focus on leverage reduction, which could include the sale of remaining owned assets. 3. J.B. Hunt (JBHT) downgraded to Neutral from Buy at Goldman Sachs withh analyst Jordan Alliger citing valuation. 4. Pinterest (PINS) downgraded to Hold from Buy at Pivotal Research with analyst Michael Levine saying the company's deceleration in U.S. advertising in Q3 and implied deceleration based on guidance for Q4 "was far more than we had hoped for." 5. Booking Holdings (BKNG) downgraded to Neutral from Buy at BofA/Merrill with analyst Justin Post saying the stock price is up 19% year-to-date, even though the macro concerns for the online travel industry have been "well publicized." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/19
JEFF
11/01/19
DOWNGRADE
Target $23
JEFF
Hold
Penn National downgraded to Hold from Buy at Jefferies
Jefferies analyst David Katz downgraded Penn National to Hold from Buy with a $23 price target.
08/05/19
LEHM
08/05/19
NO CHANGE
Target $31
LEHM
Overweight
Penn National is 'underappreciated and oversold,' says Barclays
Penn National Gaming is the most oversold and undervalued stock in the gaming universe, Barclays analyst Felicia Hendrix tells investors in a research note titled, simply, "Underappreciated and Oversold." With 64% upside potential to her price target of $31, the analyst thinks Penn National should be "on the focus list for deep value long only accounts." The company's "strong" free cash flow, focus on cost cutting and delevering, and "solid" underlying fundamentals should place it high on lists for investors "who have the luxury of time," writes Hendrix. She believes Penn's 21% free cash flow yield "underscores the value that lies ahead."
11/01/19
JEFF
11/01/19
DOWNGRADE
Target $23
JEFF
Hold
Jefferies downgrades Penn National to Hold, cuts target to $23
Jefferies analyst David Katz downgraded Penn National Gaming to Hold from Buy with a price target of $23, down from $25. Management has been clear in their intention is to focus on leverage reduction, which could include the sale of remaining owned assets. The outcome should be accretive, but leaves Penn National with leased properties, which increases capital structure metrics but raises capital cost, "thereby pressuring valuation levels," Katz tells investors in a research note. As a result, he believes the shares could have less upside compared to other names.
AGS PlayAGS
$11.96

0.305 (2.62%)

08/12/19
JEFF
08/12/19
NO CHANGE
Target $20
JEFF
Buy
PlayAGS shares offer 'meaningful upside' after selloff, says Jefferies
Jefferies analyst David Katz believes last week's 52% post-earnings selloff in shares of PlayAGS is overdone. The analyst lowered his price target for the shares to $20 from $27 and keeps a Buy rating on the name. While the nature of the outlook cut should reset both estimates and valuations "for an extended period," the shares at current levels are attractive, Katz tells investors in a research note titled "Horror Week on the 4:30 Movie." His discussions with industry sources and management suggest that the critical product issues for PlayAGS are more likely to slow growth rather than turn it negative. And the market is presently pricing in approximately no growth for PlayAGS and applying a 5.5 times multiple on EBITDA, says Katz. He keeps a Buy rating on the shares.
08/08/19
08/08/19
NO CHANGE

Stifel lowers PlayAGS price target to $24 from $33, would buy on weakess
Stifel analyst Brad Boyer maintained a Buy rating on PlayAGS, but lowered his price target on shares to $24 from $33 following the company's Q2 earnings results. The Q2 report included adjusted EBITDA 8% below the analyst's model and 10% below the consensus, along with revised FY19 EBITDA outlook around 9% lower. While the analyst said this looks "like a case of a broken growth story at first glance," he believes a majority of the issues are transitory and is confident management can correct them. Boyer suggested being a buyer on weakness.
08/08/19
08/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Inogen (INGN) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at SVB Leerink. 2. QEP Resources (QEP) downgraded to Market Perform from Strong Buy at Raymond James, while Oasis Petroleum (OAS) was downgraded to Outperform from Strong Buy. 3. REV Group (REVG) downgraded to Sell from Neutral at Goldman Sachs, while Caterpillar (CAT) and Granite Construction (GVA) were downgraded to Neutral from Buy. 4. PlayAGS (AGS) double downgraded to Underperform from Buy at BofA/Merrill, to Hold from Buy at Union Gaming and Deutsche Bank. 5. 3D Systems (DDD) downgraded to Underweight from Neutral at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/08/19
BOFA
08/08/19
DOWNGRADE
Target $14
BOFA
Underperform
PlayAGS double downgraded to Underperform at BofA/Merrill
As previously reported, BofA Merrill Lynch double downgraded PlayAGS to Underperform from Buy and lowered its price target for the shares to $14 from $30. After the company's Q2 revenue miss and EBITDA guidance cut, analyst Shaun Kelley said the underperformance seen, especially in the Gaming Operations segment, was a "large surprise," noting that even with the latest cut, the implied 2019 second half acceleration appears to be "challenging." Kelley believes that PlayAGS will re-rate lower as its "unique growth story" becomes "compromised," he told investors in his pre-open downgrade note.
LVS Las Vegas Sands
$62.38

0.23 (0.37%)

09/09/19
09/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Las Vegas Sands (LVS) upgraded to Buy from Hold at Deutsche Bank with analyst Carlo Santarelli saying Bearish Macau sentiment has created an opportunistic entry point for medium to longer term investors. 2. Genesco (GCO) upgraded to Buy from Hold at Pivotal Research with analyst Mitch Kummetz citing the company's Q2 beat and guidance increase. 3. Entergy (ETR) upgraded to Overweight from Neutral at JPMorgan with analyst Christopher Tenure saying unlike some of its large premium valuation peers, Entergy has potential for both high rate base growth and improving earned returns on equity. 4. SAIC (SAIC) upgraded to Outperform from Market Perform at Cowen with analyst Cai Von Rumohr saying the "sharp selloff" in shares has resulted in favorable risk/reward and raised its price target to $102.00. 5. Chipotle (CMG) upgraded to Outperform from Neutral at Wedbush with analyst Nick Setyan saying as the industry transitions towards a larger mix of digital transactions, the analyst believes Chipotle is in a leading position to establish a digital moat. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/19
DBAB
09/09/19
UPGRADE
Target $70
DBAB
Buy
Deutsche upgrades Las Vegas Sands to Buy amid bearish Macau sentiment
Deutsche Bank analyst Carlo Santarelli last night upgraded Las Vegas Sands to Buy from Hold with a price target of $70. Bearish Macau sentiment has created an opportunistic entry point for medium to longer term investors, Santarelli tells investors in a research note. The analyst believes the shares at current levels do not reflect Las Vegas Sands' "fortified" balance sheet and capital return story. Santarelli attributes Macau's "choppy" trends to geopolitical headwinds and he expects positive Macau gross gaming revenue comparisons in the near term.
HLT Hilton
$98.84

1.05 (1.07%)

09/11/19
09/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hilton (HLT) initiated with an Outperform at Bernstein while Marriott (MAR) initiated with a Market Perform. 2. Ceridian (CDAY) initiated with an Overweight at Cantor Fitzgerald. 3. PacifiCare (PHS) initiated with an Outperform at William Blair. 4. Ollie's Bargain Outlet (OLLI) initiated with a Buy at Craig-Hallum. 5. ADP (ADP) initiated with an Outperform at Cowen while Paychex (PAYX) initiated with a Market Perform. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/19
BMOC
10/16/19
INITIATION
Target $104
BMOC
Outperform
Hilton initiated with an Outperform at BMO Capital
BMO Capital analyst Ari Klein initiated coverage of Hilton Worldwide Holdings with an Outperform rating and $104 price target. The analyst views Hilton as one of the best positioned lodging companies, citing its "rapidly" growing loyalty program, and "durable" fee-based business model that he believes can sustain 10%-15% earnings growth. While weakening economic conditions can weigh on its RevPAR, Hilton's fee growth is supported by a strong development pipeline, says the analyst.
09/11/19
BERN
09/11/19
INITIATION
Target $108
BERN
Outperform
Bernstein bullish on Hilton, initiates with an Outperform
As previously reported, Bernstein analyst Richard Clarke started coverage of Hilton with an Outperform rating and $108 price target. The analyst believes asset-light hotel model is a "fantastic business model," enabling fast growth, high returns and high cash generation. A recent valuation pullback and "misdiagnosed" cyclical fears provide a rare attractive entry point, he contends.
GDEN Golden Entertainment
$18.10

1.1 (6.47%)

10/23/19
10/23/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Golden Entertainment (GDEN) initiated with an Overweight at JPMorgan. 2. Endava (DAVA) initiated with a Positive at Susquehanna. 3. Verint (VRNT) initiated with a Buy at Needham. 4. Papa John's (PZZA) initiated with a Buy at CL King while Domino's Pizza (DPZ) was initiated with a Neutral. 5. Oportun Financial (OPRT) initiated with an Outperform at JMP Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/19
DBAB
03/15/19
NO CHANGE
Target $22
DBAB
Buy
Golden Entertainment price target lowered to $22 from $38 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli lowered his price target for Golden Entertainment to $22 from $38 after the company's adjusted EBITDA in Q4 came in $7M light of his estimate. While "certainly disappointing," Golden Entertainment's go-forward story does not change much as the Stratosphere renovations remains underway and on budget, there was positive news on the Nevada route operations, and the company bought ~$20M of its stock at an average price of $16.06 in Q4 and instituted a new authorization this month, Santarelli tells investors in a post-earnings research note. He keeps a Buy rating on the shares.
10/23/19
JPMS
10/23/19
INITIATION
Target $18
JPMS
Overweight
Golden Entertainment initiated with an Overweight at JPMorgan
JPMorgan analyst Daniel Politzer initiated coverage of Golden Entertainment with an Overweight rating and $18 price target. The analyst sees an "attractive" valuation and "favorable" 2020 setup for the shares. The Strat's performance will likely improve as renovation disruption subsides by year-end 2019 and the company progresses to a 15% return on investment there, Politzer tells investors in a research note. Further, the Las Vegas Strip has a "strong lineup" of large events/trade show rotations in 2020, adds the analyst.
GLPI Gaming and Leisure Properties
$42.30

-0.18 (-0.42%)

10/24/19
MACQ
10/24/19
INITIATION
MACQ
Outperform
Gaming and Leisure Properties initiated with an Outperform at Macquarie
Macquarie analyst Jordan Bender initiated coverage of Gaming and Leisure Properties with an Outperform rating.
10/25/19
MACQ
10/25/19
INITIATION
Target $44
MACQ
Outperform
Gaming and Leisure Properties initiated with an Outperform at Macquarie
As previously reported, Macquarie analyst Jordan Bender initiated coverage of Gaming and Leisure Properties with an Outperform rating and $44 price target. The analyst said Gaming and Leisure's rents are less cyclical than peers and has demonstrated a history of acquiring both large and small assets, while growing the dividend.
07/29/19
SCOT
07/29/19
INITIATION
Target $42
SCOT
Outperform
Gaming and Leisure Properties initiated with an Outperform at Scotiabank
Scotiabank analyst Nicholas Yulico initiated Gaming and Leisure Properties with an Outperform rating and $42 price target.
FLL Full House Resorts
$3.00

0.045 (1.52%)

11/04/19
MACQ
11/04/19
UPGRADE
MACQ
Outperform
Full House Resorts upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Chad Beynon upgraded Full House Resorts to Outperform from Neutral.
STAY Extended Stay America
$14.69

0.12 (0.82%)

09/06/19
JPMS
09/06/19
DOWNGRADE
Target $15
JPMS
Neutral
JPMorgan downgrades 'catalyst-less' Extended Stay America to Neutral
JPMorgan analyst Joseph Greff downgraded Extended Stay America to Neutral from Overweight and lowered his price target for the shares to $15 from $16.50. The analyst reduced his 2020 Lodging estimates as we now views 1% RevPAR growth assumption for next year as more optimistic than three months ago. Further, given Extended Stay's announcement last month that its board has concluded to cease evaluating corporate structure alternatives to optimize equity value, the analyst thinks the stock is "catalyst-less" absent the board revisiting corporate structure alternatives.
08/09/19
MSCO
08/09/19
DOWNGRADE
Target $15
MSCO
Equal Weight
Extended Stay downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Thomas Allen downgraded Extended Stay America to Equal Weight from Overweight, citing both his concerns that lodging demand is broadly weakening and the loss of a near-term catalyst after the company announced that its board decided against pursuing a "transformative transaction." While the stock continues to trade at a meaningful discount to peers, he sees the risk-reward as balanced given Extended Stay's high financial and operating leverage, Allen tells investors. He lowered his price target on the stock to $15 from $20.
08/21/19
DBAB
08/21/19
NO CHANGE
DBAB
Buy
Extended Stay America has clear path to bolster value, says Deutsche Bank
After hosting a series of investor meetings with Extended Stay America CFO Brian Nicholson and VP or IR Rob Ballew, Deutsche Bank analyst Chris Woronka says he came away convinced that the company is better positioned to execute on key pillars of the ESA 2.0 plan now that the formal strategic review process has ended. Woronka tells investors in a research note that he sees a clear path for the company to bolster shareholder value from here, with opportunistic buybacks being a key part of that, and says he isn't ruling out that the company could revisit a potential OpCo/PropCo style spin someday. The analyst maintains a Buy rating.
09/06/19
JPMS
09/06/19
DOWNGRADE
Target $15
JPMS
Neutral
Extended Stay America downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Joseph Greff downgraded Extended Stay America to Neutral from Overweight and lowered his price target for the shares to $15 from $16.50.
ERI Eldorado Resorts
$51.17

0.37 (0.73%)

07/01/19
DBAB
07/01/19
NO CHANGE
Target $74
DBAB
Buy
Eldorado Resorts price target raised to $74 from $56 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli raised his price target for Eldorado Resorts (ERI) to $74 from $56 following the company's acquisition of Caesars Entertainment (CZR). The combined entity, from a financial perspective, "harmonizes nicely" and generates "considerable" free cash flow, which, if valued properly relative to peers, implies "meaningful upside" in the shares, Santarelli tells investors in a research note. He keeps a Buy rating on both Eldorado and Caesars.
07/24/19
SUSQ
07/24/19
INITIATION
Target $50
SUSQ
Neutral
Eldorado Resorts initiated with a Neutral at Susquehanna
Susquehanna analyst Joseph Stauff initiated Eldorado Resorts with a Neutral rating and $50 price target, stating that it is "stuck" in a deal process until 2020. While he believes synergy estimates are conservative, the "market won't pay for them until deal risk is very low," contends Stauff.
07/01/19
WELS
07/01/19
UPGRADE
Target $24.5
WELS
Outperform
VICI Properties upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly upgraded VICI Properties (VICI) to Outperform from Market Perform and raised his price tare for the shares to $24.50 from $23. The company's recent partnership announcement with Eldorado Resorts (ERI) will increase its rent base by $252.5M, Donnelly tells investors in a research note. The analyst believes the deal is positive for VICI given its 6% earnings accretion, improved lease terms, and replenished pipeline for future acquisitions. In addition, the continued institutionalization of the gaming real estate investment trust sector should allow for more cap rate compression within the asset class over time, says Donnelly.
DIN Dine Brands
$76.61

-2.45 (-3.10%)

08/01/19
RAJA
08/01/19
DOWNGRADE
Target $105
RAJA
Outperform
Dine Brands downgraded to Outperform on Applebee's visibility at Raymond James
As previously reported, Raymond James analyst Brian Vaccaro downgraded Dine Brands to Outperform from Strong Buy following Applebee's comps in Q2 that he called "disappointing." While management is optimistic that re-emphasizing value combined with higher advertising can support comps in the second half, he is a bit more cautious given difficult Q3 comparisons and historical seasonality, Vaccaro tells investors. However, comp trends at IHOP are still "solidly positive" and he still views Dine Brands shares as undervalued, added the analyst, who lowered his price target on the stock to $105 from $125.
09/26/19
MKMP
09/26/19
INITIATION
Target $90
MKMP
Buy
Dine Brands initiated with a Buy at MKM Partners
MKM Partners analyst Brett Levy initiated Dine Brands with a Buy rating and $90 price target.
10/10/19
KERI
10/10/19
UPGRADE
KERI
Buy
Dine Brands upgraded to Buy from Neutral at Kalinowski
09/27/19
MKMP
09/27/19
INITIATION
Target $90
MKMP
Buy
Dine Brands initiated with a Buy at MKM Partners
As previously reported, MKM Partners analyst Brett Levy initiated Dine Brands with a Buy rating and a price target of $90. The analyst sees the stock as a franchised model pure play, stating that its dual-branded IHOP and Applebee's portfolio has been responding to the customers' preferences with their offerings. Levy further notes that Dine Brands has worked hard to position for the next phase of its "evolution", and sales have been tracking well with positive comps at both brands since late 2017. Following the recent pullback, the analyst notes that the stock offers a favorable risk-reward.
CPLG CorePoint Lodging
$10.39

0.56 (5.70%)

07/09/19
JPMS
07/09/19
DOWNGRADE
Target $11
JPMS
Underweight
CorePoint Lodging downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Joseph Greff downgraded CorePoint Lodging to Underweight from Neutral and lowered his price target for the shares to $11 from $13. The analyst is "increasingly cautious" on valuations in the Lodging space as well as the length of the current cycle.
08/16/19
STFL
08/16/19
NO CHANGE
Target $65
STFL
Buy
Wyndham Hotels selloff on CorePoint comments seems overdone, says Stifel
Stifel analyst Simon Yarmak noted that Wyndham Hotels & Resorts (WH) shares are down 8.8% since the disclosure Tuesday night from CorePoint Lodging (CPLG) that most of its 2019 RevPAR guidance reduction was due to the integration onto the Wyndham Hotels platform from standalone La Quinta. CorePoint claims the new revenue management systems, call center interface technology and administration of corporate and group bookings had a meaningful negative impact on the company's operations in the quarter and gave notice that it believes Wyndham is in breach of contract on the management side of the two companies' existing agreement, which Wyndham denies. Yarmak, who believes there were additional factors that likely contributed to CorePoint's weak performance in the quarter, sees the recent selloff in Wyndham Hotels as overdone and he keeps a Buy rating and $65 price target on the latter's shares.
CLDT Chatham Lodging
$17.93

0.345 (1.96%)

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.
FUN Cedar Fair
$56.48

-0.44 (-0.77%)

10/04/19
KEYB
10/04/19
NO CHANGE
KEYB
Overweight
Keybanc says bid near $85 per share would be hard for Cedar Fair not to consider
After Reuters reported that Cedar Fair (FUN) has rejected a $70 stock-and-cash offer made by Six Flags (SIX) as too low, Keybanc analyst Brett Andress said his conversations with Cedar Fair lead him to conclude that the company is not for sale, "but everything does have a price." He thinks a bid near $85 per share would be "hard for Cedar Fair unitholders to turn down (or at least seriously consider)," Andress tells investors. While a theoretical $85 bid might be "doable," it would require a massive amount of equity "and this $85 scenario is still a far stretch," said the analyst, who admits that he "also thought SIX's initial idea to even approach FUN was a stretch." Andress has Overweight ratings on both Six Flags and Cedar Fair shares.
10/04/19
WELS
10/04/19
NO CHANGE
WELS
Outperform
Six Flags an aggressive buy as Cedar Fun deal very unlikely, says Wells Fargo
While no specific comment was made regarding the Reuters article of Six Flags Entertainment (SIX) making a bid, Cedar Fair (FUN) management stated that the company is not looking to be sold, Wells Fargo analyst Timothy Conder told investors last night in a research note. Cedar Fair management conducted scheduled one-on-one meetings earlier in the week and has scheduled meetings next week, but did not participate in a conference yesterday based on counsel's advice, adds the analyst. The company has previously chosen not to convert to a C-Corp as this would involve either trigging a substantial tax bill for unitholders, or the tax bill being borne by the new C-Corp in the form of higher go forward tax rates, "neither of which is acceptable," says Conder. The analyst believes this same dilemma would face Six Flags in the event of an acquisition. For his part, Conder has yet to find any type of multiple stock class structures that would work and avoid the ability to defer a transactional tax bill to either unitholders or the surviving C-Corp. In addition, Six Flags launched a repricing of its $798M term loan due 2026 on September 30, Conder points out. It would be "strange that the company would do this ahead of a major acquisition bid," he says. As such, the analyst reiterates his view that a Six Flags acquisition of Cedar Fair is "highly unlikely." He also believes the recent pullback in Six Flags shares is "overdone and unwarranted." Candor would be an "aggressive" of Six Flags ahead of what he expects will be "solid" Q3 results from both companies. And if the recent buyout talk subsides, the analyst sees only a "modest" $2-$3 per share give back in Cedar Fun. He keeps an Outperform rating on both stocks.
10/04/19
JEFF
10/04/19
NO CHANGE
Target $57
JEFF
Hold
Jefferies doesn't see Six Flags paying over $68 per share for Cedar Fair
The potential acquisition of Cedar Fair (FUN) by Six Flags Entertainment (SIX) brings "modestly positive" outcomes from a financial perspective, but more profound benefit strategically, Jefferies analyst David Katz tells investors in a research note. The potential merger with, if true, is more transformative than Six Flags' prior deals, adds the analyst. His broad assumptions include a $68 per share offer for Cedar Fair based on a neutral enterprise value to EBITDA multiple to Six Flags. Cedar Fun closed Thursday up $1.33 to $61.05. Said differently, the analyst assumes Six Flags would not pay higher than its current valuation of 10.3 times estimated 2020 EBITDA. Katz keeps a Hold rating on Six Flags with a $57 price target.
10/04/19
10/04/19
NO CHANGE

Cedar Fair told Wells Fargo analyst it is not looking to be sold
BYD Boyd Gaming
$29.09

0.04 (0.14%)

07/24/19
SUSQ
07/24/19
INITIATION
SUSQ
Neutral
Boyd Gaming initiated with a Neutral at Susquehanna
Susquehanna analyst Joseph Stauff initiated Boyd Gaming with a Neutral rating and $28 price target, calling it the "most understated credible operator," but he prefers to wait for a better valuation.
06/11/19
JPMS
06/11/19
NO CHANGE
Target $34
JPMS
Overweight
Boyd Gaming risk/reward 'compelling' at current levels, says JPMorgan
JPMorgan analyst Joseph Greff says Boyd Gaming offers a "compelling" risk/reward profile at current share levels. He lowered his price target for the stock to $34 from $40 and keeps an Overweight rating on the name. Boyd can be a direct and indirect beneficiary of continued gaming industry consolidation, Greff tells investors in a research note. Further, he points out that regional gaming stocks have historically outperformed in the early summer months.
07/31/19
TLSY
07/31/19
UPGRADE
Target $36
TLSY
Outperform
Boyd Gaming upgraded to Outperform from Market Perform at Telsey Advisory
Telsey Advisory analyst Brian McGill upgraded Boyd Gaming to Outperform from Market Perform and raised his price target for the shares to $36 from $31.
06/14/19
WOLF
06/14/19
INITIATION
Target $37
WOLF
Outperform
Boyd Gaming initiated with an Outperform at Wolfe Research
Wolfe Research analyst Jared Shojaian started Boyd Gaming with an Outperform rating and $37 price target.

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MHK

Mohawk

$138.19

3.26 (2.42%)

05:29
12/06/19
12/06
05:29
12/06/19
05:29
Initiation
Mohawk initiated  »

Mohawk initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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AOS

A.O. Smith

$46.89

0.53 (1.14%)

05:28
12/06/19
12/06
05:28
12/06/19
05:28
Initiation
A.O. Smith initiated  »

A.O. Smith initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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LEG

Leggett & Platt

$52.16

0.33 (0.64%)

05:27
12/06/19
12/06
05:27
12/06/19
05:27
Initiation
Leggett & Platt initiated  »

Leggett & Platt…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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OC

Owens Corning

$66.07

0.69 (1.06%)

05:26
12/06/19
12/06
05:26
12/06/19
05:26
Initiation
Owens Corning initiated  »

Owens Corning initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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JELD

Jeld-Wen

$23.15

0.47 (2.07%)

05:25
12/06/19
12/06
05:25
12/06/19
05:25
Initiation
Jeld-Wen initiated  »

Jeld-Wen initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MAS

Masco

$46.01

0.445 (0.98%)

05:23
12/06/19
12/06
05:23
12/06/19
05:23
Initiation
Masco initiated  »

Masco initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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IBP

Installed Building Products

$71.67

1.12 (1.59%)

05:22
12/06/19
12/06
05:22
12/06/19
05:22
Initiation
Installed Building Products initiated  »

Installed Building…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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FBHS

Fortune Brands

$63.90

0.74 (1.17%)

05:22
12/06/19
12/06
05:22
12/06/19
05:22
Initiation
Fortune Brands initiated  »

Fortune Brands initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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WHR

Whirlpool

$144.83

2.825 (1.99%)

05:20
12/06/19
12/06
05:20
12/06/19
05:20
Initiation
Whirlpool initiated  »

Whirlpool initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 28

    Jan

AWI

Armstrong World

$93.35

-0.87 (-0.92%)

05:19
12/06/19
12/06
05:19
12/06/19
05:19
Initiation
Armstrong World initiated  »

Armstrong World initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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CIEN

Ciena

$36.30

-0.3 (-0.82%)

, FB

Facebook

$199.35

0.65 (0.33%)

05:17
12/06/19
12/06
05:17
12/06/19
05:17
Downgrade
Ciena, Facebook, AT&T rating change  »

Ciena downgraded to Sell…

CIEN

Ciena

$36.30

-0.3 (-0.82%)

FB

Facebook

$199.35

0.65 (0.33%)

T

AT&T

$38.21

0.07 (0.18%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 09

    Dec

  • 09

    Dec

  • 09

    Dec

  • 12

    Dec

  • 29

    Jan

RDY

Dr. Reddy's

$40.11

-0.03 (-0.07%)

05:15
12/06/19
12/06
05:15
12/06/19
05:15
Hot Stocks
Dr. Reddy's announces launch of Deferasirox Film-Coated Tablets in U.S. market »

Dr. Reddy's…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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TOL

Toll Brothers

$40.90

0.79 (1.97%)

05:14
12/06/19
12/06
05:14
12/06/19
05:14
Initiation
Toll Brothers initiated  »

Toll Brothers initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 10

    Dec

PHM

PulteGroup

$40.19

0.79 (2.01%)

05:13
12/06/19
12/06
05:13
12/06/19
05:13
Initiation
PulteGroup initiated  »

PulteGroup initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MTH

Meritage Homes

$67.01

0.755 (1.14%)

05:12
12/06/19
12/06
05:12
12/06/19
05:12
Initiation
Meritage Homes initiated  »

Meritage Homes initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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LEN

Lennar

$59.82

0.96 (1.63%)

05:11
12/06/19
12/06
05:11
12/06/19
05:11
Initiation
Lennar initiated  »

Lennar initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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KBH

KB Home

$35.11

0.575 (1.67%)

05:10
12/06/19
12/06
05:10
12/06/19
05:10
Initiation
KB Home initiated  »

KB Home initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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DHI

D.R. Horton

$55.73

0.38 (0.69%)

05:09
12/06/19
12/06
05:09
12/06/19
05:09
Initiation
D.R. Horton initiated  »

D.R. Horton initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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SUM

Summit Materials

$23.60

-0.48 (-1.99%)

05:06
12/06/19
12/06
05:06
12/06/19
05:06
Downgrade
Summit Materials rating change  »

Summit Materials…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MGTA

Magenta Therapeutics

$12.99

-0.14 (-1.07%)

05:03
12/06/19
12/06
05:03
12/06/19
05:03
Initiation
Magenta Therapeutics initiated  »

Magenta Therapeutics…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 07

    Dec

  • 07

    Dec

ODT

Odonate Therapeutics

$33.29

-1.75 (-4.99%)

05:02
12/06/19
12/06
05:02
12/06/19
05:02
Initiation
Odonate Therapeutics initiated  »

Odonate Therapeutics…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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KNSA

Kiniksa

$10.01

-0.1 (-0.99%)

05:00
12/06/19
12/06
05:00
12/06/19
05:00
Upgrade
Kiniksa rating change  »

Kiniksa assumed to Buy…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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AMED

Amedisys

$165.41

-1.22 (-0.73%)

04:58
12/06/19
12/06
04:58
12/06/19
04:58
Initiation
Amedisys initiated  »

Amedisys initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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SNY

Sanofi

$46.09

-0.49 (-1.05%)

04:56
12/06/19
12/06
04:56
12/06/19
04:56
Downgrade
Sanofi rating change  »

Sanofi downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 09

    Dec

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