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FCAU

Fiat Chrysler

$14.78

-0.18 (-1.20%)

, DIS

Disney

$151.78

0.24 (0.16%)

19:42
12/01/19
12/01
19:42
12/01/19
19:42

Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Fiat Chrysler (FCAU) confirmed that the company and the UAW have reached a tentative agreement on a new four-year contract. According to CNBC's Michael Wayland, citing a UAW statement, the agreement will add $4.5B in investments, which translates to 7,900 jobs over the course of a four-year deal. 2. Black Friday shopping at physical stores saw a 4.2% increase in sales compared to 2018, according to First Data Insights. The greatest increase over normal shopping activity was seen across electronics and appliances, sporting goods, and clothing/shoe stores. Electronics and appliance stores saw the largest average ticket size at $214 per transaction. 3. Disney's (DIS) "Frozen II" earned an estimated $85.2M/$123.7M over three/five days in its second weekend at theaters -- the largest three and five-day grosses ever over Thanksgiving weekend. "Frozen II" has now grossed over $287M domestically and over $738M globally in less than two full weeks. Lionsgate's (LGF.A, LGF.B) murder mystery "Knives Out" opened in second place, with an estimated $41.7M over the five day weekend, which made the film the sixteenth largest Thanksgiving opener of all time. 4. Barron's cover story, written by Eric Savitz, looked at legacy technology companies Cisco (CSCO), IBM (IBM), Intel (INTC), Oracle (ORCL), Seagate Technology (STX), Western Digital (WDC), Xerox Holdings (XRX), HP Inc. (HPQ), and Hewlett Packard Enterprise (HPE), which are struggling to stay relevant. Wolfe Research strategist Steve Milunovich warned against "excessive optimism" for legacy technology companies, concluding that "as a group, the secular winds are against them." 5. Tanger Factory Outlet Centers (SKT) and Suncor Energy (SU) saw positive mentions in this week's edition of Barron's.

FCAU

Fiat Chrysler

$14.78

-0.18 (-1.20%)

DIS

Disney

$151.78

0.24 (0.16%)

LGF.A

Lionsgate

$9.31

-0.25 (-2.62%)

LGF.B

Lionsgate

$8.65

-0.27 (-3.03%)

CSCO

Cisco

$45.33

0.1 (0.22%)

IBM

IBM

$134.45

0.72 (0.54%)

INTC

Intel

$58.06

-0.47 (-0.80%)

ORCL

Oracle

$56.21

-0.4 (-0.71%)

STX

Seagate

$59.71

-0.54 (-0.90%)

WDC

Western Digital

$50.34

-0.08 (-0.16%)

XRX

Xerox

$39.22

0.42 (1.08%)

HPQ

HP Inc.

$20.13

0.35 (1.77%)

HPE

HP Enterprise

$15.89

-0.04 (-0.25%)

SKT

Tanger Factory

$15.23

-0.14 (-0.91%)

SU

Suncor

$31.33

-0.17 (-0.54%)

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FCAU Fiat Chrysler
$14.78

-0.18 (-1.20%)

11/12/19
EXAN
11/12/19
UPGRADE
Target $19.3
EXAN
Outperform
Fiat Chrysler upgraded to Outperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Stuart Pearson upgraded Fiat Chrysler to Outperform from Neutral with a price target of $19.30.
11/21/19
JPMS
11/21/19
NO CHANGE
Target $47
JPMS
Overweight
GM could seek at least $6B in damages from FCA, says JPMorgan
There is reason to believe General Motors (GM) could seek at least $6B in damages in its lawsuit against Fiat Chrysler (FCAU), JPMorgan analyst Ryan Brinkman tells investors in a research note. One approach to estimating damages could yield a figure as high as $15B, but this should be viewed as an "extreme high-end," adds the analyst. Further, he adds that while Ford (F) may not have been as specifically targeted by the corruption scheme, it also could have a claim if the allegations are true. The analyst sees a "potential large positive" for GM shares from the suit and keeps an Overweight rating on the name with a $47 price target.
11/04/19
HSBC
11/04/19
UPGRADE
HSBC
Buy
Fiat Chrysler upgraded to Buy from Hold at HSBC
HSBC analyst Giulio Pescatore upgraded Fiat Chrysler to Buy from Hold.
11/18/19
DBAB
11/18/19
DOWNGRADE
DBAB
Hold
Peugeot downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Gaetan Toulemonde downgraded Peugeot (PUGOY) to Hold from Buy with a price target of 26 euros, down from 28 euros. The analyst believes Peugeot shareholders are "taking all of the risks" in the proposed merger with Fiat Chrysler (FCAU).
DIS Disney
$151.78

0.24 (0.16%)

11/26/19
11/26/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Disney (DIS) initiated with an Overweight at Consumer Edge. 2. McDonald's (MCD) initiated with a Hold at Deutsche Bank. 3. IMV Inc. (IMV) initiated with an Outperform at Oppenheimer. 4. Fortress Transportation (FTAI) initiated with a Buy at B. Riley FBR. 5. Marathon Oil (MRO) initiated with a Neutral at Guggenheim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/25/19
CEDG
11/25/19
INITIATION
Target $175
CEDG
Overweight
Disney initiated with an Overweight at Consumer Edge
Consumer Edge Research initiated coverage of Disney with an Overweight rating and $175 price target.
11/27/19
LOOP
11/27/19
NO CHANGE
Target $170
LOOP
Buy
Disney price target raised to $170 from $165 at Loop Capital
Loop Capital analyst Alan Gould raised his price target on Disney to $170 and kept his Buy rating after its 10-K disclosure that Hulu generated $2.9B in revenue during the second half of the year while domestic cable subscribers declined at an accelerated rate. The analyst is also modeling a higher forecast of Disney+ subscribers in the first year at 26M, including 6M internationally, after 10M signups were registered on the first day of the service. Gould believes that Disney can generate over $1B in Disney+ revenue in its first year and over $10B in revenue by 2025.
11/22/19
PIPR
11/22/19
NO CHANGE
Target $400
PIPR
Overweight
Piper survey finds one third of U.S. Netflix subscribers want Disney+
Disney's (DIS) streaming service has now been out for ten days and current Netflix (NFLX) subscribers appear to have a fairly strong interest in the service, Piper Jaffray analyst Michael Olson tells investors in a research note. The analyst surveyed 1,700 domestic Netflix subscribers to gauge interest in Disney+ and found that 33% expect to subscribe to Disney+, up from 28% in September and 27% in April. Increasing awareness of the service is driving rising subscriber interest, says the analyst. However, Olson points out that despite rising interest in Disney+, he has seen a "consistent indication" that only a mid-single digit percentage of Netflix subscribers expect to cancel in favor of Disney+. Further, at any given time, there is a single digit percentage of Netflix subscribers that expect to cancel the service in the next few months, adds the analyst. Olson still expects Netflix will continue to capture a significant portion of traditional content dollars as they migrate to streaming. He maintains an Overweight rating on the shares with a $400 price target. The stock closed Thursday up $6.53 to $311.69.
LGF.A Lionsgate
$9.31

-0.25 (-2.62%)

09/23/19
WELS
09/23/19
INITIATION
Target $15
WELS
Outperform
Lionsgate initiated with an Outperform at Wells Fargo
Wells Fargo analyst Steven Cahall initiated Lionsgate with an Outperform rating and $15 price target, stating that sentiment is "at an all-time low, but frankly, that's the opportunity." While he does not believe a buyer for Lionsgate or Starz will come in the near-term, he does view the company as "a very logical merger partner with other midsize studios," Cahall tells investors.
11/19/19
BRRR
11/19/19
NO CHANGE
Target $12
BRRR
Outperform
Lionsgate price target lowered to $12 from $18 at Barrington
Barrington analyst James Goss lowered his price target for Lionsgate (LGF.A) to $12 from $18 while maintaining an Outperform rating on the shares. The company is facing a couple of meaningful challenges involving near-term carriage renewals plus rollout of Starz in select international markets, Goss tells investors in a research note. However, while acknowledging "some need for caution," the analyst feels much of these concerns are reflected in the stock price.
11/22/19
COWN
11/22/19
NO CHANGE
Target $15
COWN
Outperform
Lionsgate price target lowered to $15 from $23 at Cowen
Cowen analyst Doug Creutz lowered his price target on Lionsgate (LGF.A) shares to $15 from $23 to reflect the potential impact of the Comcast (CMCSA) renewal. He believes investors are taking an overly negative view on the renewal's long-term implications, but he believes one way or another, Starz will be a largely opt-in product with more than 20M+ subscribers in 2020. Creutz maintained his Outperform rating on Lionsgate shares.
11/12/19
JPMS
11/12/19
NO CHANGE
Target $14
JPMS
Overweight
Lionsgate shares offer 'notable upside' potential, says JPMorgan
While there is no question the risk profile of Lionsgate is elevated, the stock offers an opportunity for "notable upside" given its "depressed" valuation and potential resolution of several overhangs, JPMorgan analyst Alexia Quadrani tells investors in a research note. She attributes the recent pressure on the shares to "several negative headlines," most recently on the news of the potential drop of Starz from Comcast's premium cable channel bundle. However, the analyst expects a renewal with Comcast will be a near-term catalyst to Lionsgate shares. She keeps an Overweight rating on the name with a $14 price target.
LGF.B Lionsgate
$8.65

-0.27 (-3.03%)

06/18/19
IMPC
06/18/19
NO CHANGE
Target $13
IMPC
In-Line
Lionsgate price target lowered to $13 from $16 at Imperial Capital
Imperial Capital analyst David Miller lowered his price target for Lionsgate Entertainment (LGF.B) to $13 from $16 and maintains an In-Line rating on the shares.
08/19/19
IMPC
08/19/19
UPGRADE
Target $14
IMPC
Outperform
Lionsgate upgraded to Outperform from In-Line at Imperial Capital
Imperial Capital analyst David Miller upgraded Lionsgate to Outperform from In-Line and raised his price target on the shares to $14 from $13 citing the 27% pullback in the stock since the end of April and his view that the "worst case scenario" for a Starz-level equity raise is priced into the stock.
CSCO Cisco
$45.33

0.1 (0.22%)

11/14/19
BARD
11/14/19
NO CHANGE
Target $52
BARD
Outperform
Cisco weakness from China and macro challenges, says Baird
Baird analyst Jonathan Ruykhaver said Cisco posted its second consecutive disappointing quarterly results and its guidance is also below expectations. The analyst said macro challenges continue to weigh on the company's outlook as well as the outlook in China and new weakness in commercial and enterprise segments. He did note that security was a bright spot in the quarter. Ruykhaver maintained his Outperform rating and lowered his price target to $52 from $54 on Cisco shares.
11/14/19
OPCO
11/14/19
NO CHANGE
Target $55
OPCO
Outperform
Cisco price target lowered to $55 from $57 at Oppenheimer
Oppenheimer analyst Ittai Kidron lowered his price target for Cisco to $55 from $57 after the company reported "solid" October-quarter results but offered weak guidance for the January quarter. Kidron tells investors in a research note that the bad news is that the negative revisions reflect ongoing weakness in emerging markets and SPs as well as new softness in the important enterprises and commercial verticals, but says the good news is that estimates have likely been appropriately reset to reflect continued softness, operating margins continue to impress, and product mix continues to improve with more software/subscription. Kidron, who maintains an Outperform rating, says shares are likely to remain under pressure in the near-term, but thinks estimates have been substantially de-risked and with a solid capital program, downside is limited.
11/14/19
COWN
11/14/19
NO CHANGE
Target $59
COWN
Outperform
Cisco growth will return with macro recovery, says Cowen
Cowen analyst Jim Suva reduced his estimates on Cisco following its Q3 results as he believes the breadth of its weak results supports the view that the outlook is macro driven. The analyst said weak environment and margin trajectory suggests that earnings power will meaningfully improve when growth returns with the eventual macro recovery. Suva reiterated his Outperform rating and lowered his price target to $59 from $61 on Cisco shares.
11/14/19
JEFF
11/14/19
NO CHANGE
Target $52
JEFF
Buy
Cisco valuation and dividend should protect downside, says Jefferies
Jefferies analyst George Notter says he's keeping a Buy rating on Cisco Systems despite last night's weaker sales guidance and incremental macro uncertainty. He expects the company will preserve earnings power as margins expand and cost cuts get implemented. Further, "below-market" valuations and the dividend yield should also help protect downside in the stock, says Notter, who lowered his price target for the shares to $52 from $54.
IBM IBM
$134.45

0.72 (0.54%)

10/21/19
10/21/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boeing (BA) downgraded to Neutral from Outperform at Credit Suisse and to Neutral from Buy at UBS. 2. Spirit AeroSystems (SPR) downgraded to Neutral from Buy at UBS with analyst Myles Walton citing Spirit's "outsized exposure" to Boeing's (BA) 737 Max program for the downgrade. 3. Gildan Activewear (GIL) downgraded to Hold from Buy at Edward Jones. 4. IBM (IBM) downgraded to Neutral from Buy at UBS with analyst Munjal Shah saying he believes it will be difficult for the company to achieve sustainable mid-single digit revenue growth. 5. Alcoa (AA) downgraded to Hold from Buy at Gabelli with analyst Justin Bergner saying Acloa's 12% two day post-earnings rally reflected better than expected proceeds from non-core asset sales and a view that estimates have bottomed. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/19
STFL
10/17/19
NO CHANGE
Target $169
STFL
Buy
IBM likely to remain a 'show me' story into next year, says Stifel
Stifel analyst David Grossman notes disappointments from IBM's GTS segment and legacy software portfolio in Q3 as likely contributors to the 5% aftermarket decline in the stock despite Red Hat being a positive and the company maintaining its 2019 guidance. The Q3 results suggest stabilization of GTS, and now legacy Cognitive, will be 2020 events, which he thinks means that IBM will likely remain a "show me" story into next year, Grossman tells investors. He keeps a Buy rating and $169 price target on IBM shares.
10/21/19
UBSW
10/21/19
DOWNGRADE
Target $140
UBSW
Neutral
IBM downgraded to Neutral from Buy at UBS
UBS analyst Munjal Shah downgraded IBM to Neutral from Buy with a price target of $140, down from $170. The stock closed Friday down 17c to $134.09. The analyst believes it will be difficult for the company to achieve sustainable mid-single digit revenue growth. In 2020, pressure in the legacy businesses should somewhat offset the growth from year one of the mainframe cycle and Red Hat acquisition, Shah tells investors in a research note. The following year "should be even more challenging" with greater revenue pressure due to a tough year two mainframe compare and lower incremental Red Hat contribution, adds the analyst. Further, currency remains a headwind and a lack of share buybacks will limit earnings growth outside of deleveraging, says Shah.
10/17/19
WELS
10/17/19
NO CHANGE
Target $140
WELS
Market Perform
IBM price target lowered to $140 from $147 at Wells Fargo
Wells Fargo analyst Ed Caso lowered his price target for IBM to $140 from $147 as Q3 "disappoints" on softer GTS revenue, lighter margin, which was offset by a lower tax rate. The analyst reiterates a Market Perform rating on the shares.
INTC Intel
$58.06

-0.47 (-0.80%)

11/19/19
MZHO
11/19/19
NO CHANGE
Target $38
MZHO
Neutral
More Intel price cuts present challenge for AMD, says Mizuho
Mizuho analyst Vijay Rakesh's channel checks indicate that Intel (INTC) is cutting Cascade Lake pricing again, now to parity with Skylake, which he feels presents a challenge to AMD. He believes that with Skylake processor supply tight, Intel has dropped Cascade Lake pricing to parity with Skylake in some instances, which equates to an incremental 25%-30% discount. Intel is offering software support and aggressive pricing, which could position it to aggressively compete with AMD, Rakesh tells investors in a research note. Further, heading into year-end, the analyst expects U.S. hyperscale to slowdown seasonally with some potential weakness at China hyperscale. In addition, Rakesh raised his price target for Neutral-rated AMD (AMD) to $38 from $36 and for Buy-rated Intel (INTC) to $64 from $60 to reflect the recent expansion of semiconductor multiples.
11/21/19
NEED
11/21/19
NO CHANGE
Target $45
NEED
Buy
Vicor Corporation price target raised to $45 from $42 at Needham
Needham analyst N. Quinn Bolton raised his price target on Vicor Corporation (VICR) to $45 and kept his Buy rating, saying the discussion at this week's SC19 Conference has made him "incrementally more positive" on the company's position as a leading supplier of 48V power solutions in the hyperscale data center and HPC markets. The analyst notes that the company appears to have secured design wins on NVIDIA's (NVDA) supercomputer instances as well as Intel's (INTC) Ponte Vecchio 7nm Xe GPU platform. Bolton also states that Vicor's 5-times enterprise value to expected 2021 sales multiple is largely in line with its analog/mixed-signal peer group.
11/06/19
NOMU
11/06/19
NO CHANGE
NOMU
Buy
AMD share gain momentum continues, says Nomura Instinet
AMD (AMD) gained market share in data center, desktop, and notebook processors in the September quarter, Nomura Instinet analyst David Wong tells investors in a research note. Further, a rebound in data center processor demand and "firmness" in PC pricing are supporting a return to overall growth for both Intel (INTC) and AMD, the analyst adds. He also notes that AMD's December quarter sales guidance midpoint implies an expectation of 48% year-over-year growth. Wong reiterates Buy ratings on both AMD and Intel.
11/21/19
NORL
11/21/19
DOWNGRADE
Target $36
NORL
Market Perform
Northland downgrades AMD, says shares ahead of fundamentals after rally
Northland analyst Gus Richard downgraded AMD (AMD) to Market Perform from Outperform with an unchanged price target of $36. The chipmaker closed Wednesday up 86c to $45.86. AMD shares are now ahead of the company's fundamentals, Richard tells investors in a research note titled "Bull and Bears Make Money, Pigs Get Slaughtered." The analyst says that while the shares "are likely to melt up between now and the end of the year," he would not be chasing them. He expects profit taking in the new year and thinks 2020 will represent a "peak growth year" for AMD. Further, as AMD market share increases, incremental share gains "get much more difficult" due to Intel's (INTC) incumbency, contends Richard.
ORCL Oracle
$56.21

-0.4 (-0.71%)

10/08/19
10/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Oracle (ORCL), Carbonite (CARB), and Check Point (CHKP) downgraded to Hold from Buy at Jefferies. 2. TerraForm Power (TERP) downgraded to Equal Weight from Overweight at Barclays. 3. Puma Biotechnology (PBYI) downgraded to Sell from Neutral at Goldman Sachs while Nektar Therapeutics (NKTR) was double downgraded to Sell from Buy. 4. Qiagen (QGEN) downgraded to Underweight from Neutral at JPMorgan and to Equal Weight from Overweight at Barclays. 5. Helmerich & Payne (HP) and Patterson-UTI (PTEN) downgraded to Neutral from Buy at BofA/Merrill. Nine Energy Services (NINE) and FTS International (FTSI) downgraded to Underperform from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/07/19
JEFF
10/07/19
DOWNGRADE
JEFF
Hold
Oracle downgraded to Hold from Buy at Jefferies
As previously reported, Jefferies analyst Brent Thill downgraded Oracle to Hold from Buy, and lowered his price target on shares to $60 from $66. The analyst lowered his FY21 estimates on Oracle, and noted that the company has "significantly underperformed" for years. Thill coupled this downgrade with an upgrade of Microsoft to Buy, saying he prefers that name for its double-digit revenue growth.
11/13/19
PIPR
11/13/19
INITIATION
Target $51
PIPR
Neutral
Oracle assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Brent Bracelin assumed coverage of Oracle with a Neutral rating and $51 price target. The analyst sees risk of further free cash flow contraction and moderating buybacks as the company's net debt builds.
10/28/19
COMP
10/28/19
NO CHANGE
COMP
Compass Point says Amazon could challenge Microsoft winning JEDI contract
Compass Point policy analyst Isaac Boltansky said, following the Department of Defense awarding the $10B JEDI contract to Microsoft (MSFT) over Amazon (AMZN), that his channel checks indicated Amazon could challenge the decision. However, he believes that while there will be "a degree of handwringing" about the political issues surrounding the contract, he feels "lawmakers are unlikely to wade too deeply into these waters given the increasing toxicity of the Big Tech conversation in Washington." Boltansky added that the JEDI contract win was a "significant victory for Microsoft," and that it could also yield some benefit for Oracle (ORCL), as it has a cloud interoperability arrangement with Microsoft.
STX Seagate
$59.71

-0.54 (-0.90%)

11/04/19
BNCH
11/04/19
NO CHANGE
Target $65
BNCH
Buy
Seagate price target raised to $65 from $60 at Benchmark
Benchmark analyst Mark Miller raised his price target on Seagate shares to $65 from $60 after the company's September quarter results beat the company's forecast. He also expects results to improve due to improving demand conditions for mass storage and the ramp of 16 TB nearline drives, said Miller, who keeps a Buy rating on Seagate shares.
10/08/19
MSCO
10/08/19
NO CHANGE
Target $60
MSCO
Overweight
Morgan Stanley still a buyer of Ambarella despite entity list news
Morgan Stanley analyst Joseph Moore said he remains a buyer of Ambarella (AMBA) shares despite reports that the list of 28 Chinese companies added to the U.S. entity list includes two customers that each make up low to mid teens percentage of the company's revenue, HIKVision and Dahua. He sees three potential mitigating factors: the fact that Ambarella may still be able to ship to entity list customers; the potential for Chinese customers to lose share to other Ambarella customers outside of China; and this impacts the legacy business and he is most enthused about Ambarella's computer vision ramp. Moore maintains an Overweight rating on Ambarella with an unchanged $60 price target. He also notes that ON Semiconductor (ON) has "modest exposure" to the surveillance market and that hard disk drive makers Seagate (STX) and Western Digital (WDC) also have "small exposure" to the surveillance markets.
11/20/19
MSCO
11/20/19
NO CHANGE
Target $66
MSCO
Overweight
Seagate price target raised to $66 from $61 at Morgan Stanley
Morgan Stanley analyst Katy Huberty raised her price target on Seagate shares to $66 from $61 as he said recent management meetings have increased her conviction about its cloud-led growth and "disruptive" potential of its upcoming products. Seagate believes its product roadmap diverges from competitors at 24TB, which will be launching late in calendar 2021, as competitor roadmaps based on MAMR technology peak out. The company sees the current hard disk drive industry market share structure shifting, which will allow for a path to 60% or greater market share based on its HAMR advantage in the future, Huberty said.
10/01/19
RBCM
10/01/19
NO CHANGE
Target $65
RBCM
Outperform
Western Digital benefiting from better than feared NAND cycle, says RBC Capital
RBC Capital analyst Mitch Steves keeps his Outperform rating and $65 price target on Western Digital (WDC), saying the recent reduction of the operating margin target by Seagate (STX) at its Analyst Day suggest that NAND memory is replacing HDDs in high storage environment. The analyst contends that as costs per terabyte on flash arrays comes down, Western Digital stands to benefit from the NAND pricing trends. Steves is also positive on the company's ability to "accelerate and further improve capital allocation" as well as expand its leadership in enterprise drives.
WDC Western Digital
$50.34

-0.08 (-0.16%)

10/14/19
LOOP
10/14/19
UPGRADE
Target $75
LOOP
Buy
Western Digital upgraded to Buy from Hold at Loop Capital
Loop Capital analyst Ananda Baruah upgraded Western Digital to Buy from Hold with a price target of $75, up from $50. The analyst cites his findings that flash memory average selling prices are set to increase starting in the September and December quarters while also sustaining those increases in 2020, along with expectations of strong hyperscale HDD demand next year. Baruah is modeling his price target with an assumed 2021 earnings multiple of 10-times, but adds that there is potential for that multiple to rise to 12- to 15- times if Western Digital can grow its revenue by about 15% in 2020.
10/14/19
10/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Neutral from Underperform at BofA/Merrill with analyst Robert Ohmes saying that he expects the "accelerated democratization" of the brand to offset the broader future challenges around "significant" third-party retail store closures and global stagnation in "performance" footwear/apparel. 2. Western Digital (WDC) upgraded to Buy from Hold at Loop Capital with analyst Ananda Baruah citing his findings that flash memory average selling prices are set to increase starting in the September and December quarters while also sustaining those increases in 2020, along with expectations of strong hyperscale HDD demand next year. 3. Varian Medical (VAR) upgraded to Buy from Neutral at BTIG with analyst Sean Lavin saying Varian shares have pulled back in recent weeks and now trade in line with the comp group. 4. Xilinx (XLNX) upgraded to Buy from Neutral at Nomura Instinet with analyst David Wong saying many risks remain for U.S. semiconductor companies, including uncertainties related to U.S./China trade issues and U.S. action against Chinese companies such as Huawei. 5. HP Enterprise (HPE) upgraded to In Line from Underperform at Evercore ISI with analyst Amit Daryanani saying he is incrementally more positive on cash flow resiliency, the Cray acquisition, recent data points that indicate H3C is performing better than other OEMs in China, and valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/31/19
RBCM
10/31/19
NO CHANGE
Target $64
RBCM
Outperform
Western Digital price target lowered to $64 from $70 at RBC Capital
RBC Capital analyst Mitch Steves lowered his price target on Western Digital to $64, saying that while its Q1 earnings were "solid", the Q2 guidance was weaker because of "limited margin flow through." The analyst still keeps his Outperform rating on the stock, citing the management's view that the bottom in NAND memory cycle is now in the past as the company works toward gross margins of over 40%.
10/14/19
LOOP
10/14/19
UPGRADE
LOOP
Buy
Western Digital upgraded to Buy from Hold at Loop Capital
XRX Xerox
$39.22

0.42 (1.08%)

11/18/19
DBAB
11/18/19
NO CHANGE
DBAB
Hold
HP letter to Xerox indicates openness in combination, says Deutsche Bank
Deutsche Bank analyst Jeriel Ong says that while HP Inc.'s (HPQ) offer rejection reduces the odds of Xerox (XRX) being the acquirer, he believes the letter also communicates the openness HP has in evaluating a combination. It is unclear whether Xerox increasing the offer price would improve the odds of a combination as HPQ is already concerned about debt load at the $22 per share offer, Ong tells investors in a research note. The analyst continues to believe that a combination makes sense with HP as the acquirer rather than the target. He keeps a Hold rating on HP.
11/25/19
JPMS
11/25/19
NO CHANGE
Target $19
JPMS
Neutral
HP Inc. risks skewed to downside near-term, says JPMorgan
JPMorgan analyst Paul Coster says that while HP Inc.'s (HPQ) "likely frosty" response to what could evolve into a hostile bid from Xerox (XRX) is probably the main focus of investors into the fiscal Q4 results, the stock's near-term risks are skewed to the downside. The print itself is unlikely to strengthen HP's case for independence if continued declines in the high-margin printer segment shift sentiment in favor of "urgent cost-cutting of the kind already instituted by Xerox," Coster tells investors in a research note. He believes a "bad print" could reinforce the view that HP's personal and office printer business is in secular decline, whether or not combined with that of Xerox. Coster keeps an Underweight rating on HP Inc. shares with a $19 price target.
11/22/19
DBAB
11/22/19
NO CHANGE
DBAB
Hold
HP, Xerox deal 'continues to be in play,' says Deutsche Bank
While admitting there is a bit of a "he said, she said" dynamic playing out, Deutsche Bank analyst Jeriel Ong sees the interaction between HP Inc. (HPQ) and Xerox (XRX) as a "positive indicator that some kind of a deal continues to be in play." The analyst, who says he has no incremental information to discern whether Xerox's claim that HP has not agreed to mutual diligence as a delay tactic holds merit or not, believes that a combined company makes more sense with HP as the acquirer rather than the target.
11/25/19
LOOP
11/25/19
NO CHANGE
Target $47
LOOP
Buy
Xerox price target raised to $47 from $42 at Loop Capital
Loop Capital analyst Ananda Baruah raised his price target on Xerox (XRX) to $47 and kept his Buy rating, saying that regardless of the outcome of its efforts to acquire HP Inc (HPQ), his recent discussion with its management has made him more bullish on the company's prospects. The analyst sees the new management committed to "creativity, sophistication, and velocity for creating both company and equity value", adding that at 9.3-times enterprise value to expected free cash flow, the stock offers "inherent" free cash flow value.
HPQ HP Inc.
$20.13

0.35 (1.77%)

11/27/19
WELS
11/27/19
NO CHANGE
Target $22
WELS
Market Perform
HP Inc. commercial PC performance stronger than expected, says Wells Fargo
Wells Fargo analyst Aaron Rakers said HP Inc. (HPQ) delivered what he thinks investors will view as net-positive quarterly results on printing supplies revenue that was roughly in line with his forecast along with strength in the commercial PC segment. Of note, HP did not provide comments on Xerox's (XRX) hostile takeover efforts, Rakers pointed out. He maintains a Market Perform rating on HP shares and increased his price target on the stock to $22 from $20 after the company's guidance raise.
HPE HP Enterprise
$15.89

-0.04 (-0.25%)

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.
11/11/19
UBSW
11/11/19
UPGRADE
Target $18
UBSW
Neutral
HP Enterprise upgraded to Neutral from Sell at UBS
UBS analyst Munjal Shah upgraded HP Enterprise to Neutral from Sell with a price target of $18, up from $13. The analyst sees product mix shift and some improvement in the company's end markets.
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).
11/26/19
LEHM
11/26/19
NO CHANGE
Target $15
LEHM
Equal Weight
HP Enterprise reported another revenue miss, says Barclays
Barclays analyst Tim Long keeps an Equal Weight rating on HP Enterprise with a $15 price target saying the company last night reported another revenue miss. While a weaker storage market was largely expected, the 7% miss in Aruba revenue was disappointing given the improvement last quarter and new product launches, Long tells investors in a research note. Near-term demand continues to be challenging, and investments in Intelligent Edge should take longer to drive meaningful growth and margins, adds the analyst.
SKT Tanger Factory
$15.23

-0.14 (-0.91%)

12/19/18
JPMS
12/19/18
DOWNGRADE
Target $22
JPMS
Underweight
Tanger Factory downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Anthony Paolone downgraded Tanger Factory to Underweight and lowered his price target for the shares to $22 from $24. The downgrade is primarily driven by an improved outlook/preference for other property types in the REIT space, says the analyst.
03/25/19
BOSC
03/25/19
INITIATION
Target $27
BOSC
Outperform
Tanger Factory initiated with an Outperform at Boenning & Scattergood
Boenning & Scattergood analyst Merrill Ross initiated Tanger Factory with an Outperform and $27 price target.
05/09/19
GSCO
05/09/19
DOWNGRADE
Target $15
GSCO
Sell
Tanger Factory downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Caitlin Burrows downgraded Tanger Factory to Sell from Neutral and lowered her price target for the shares to $15 from $19.80. The analyst does not expect a near-term reacceleration in the company's earnings growth.
SU Suncor
$31.33

-0.17 (-0.54%)

04/16/19
GSCO
04/16/19
UPGRADE
Target $11
GSCO
Neutral
Cenovus Energy upgraded to Neutral with $11 price target at Goldman Sachs
Goldman Sachs analyst Neil Mehta upgraded Cenovus Energy (CVE) to Neutral from Sell and raised his price target for the shares to $11 from $7.50. The analyst cites improvements to the company's leverage outlook and a more constructive commodity price environment, particularly for Canadian heavy crude, for the upgrade. However, he stills see more upside to Buy-rated ConocoPhillips (COP), Canadian Natural Resources (CNQ), Suncor (SU) and Imperial Oil (IMO) among large cap North American oils than Cenovus.
04/03/19
04/03/19
DOWNGRADE

In Line
Suncor downgraded to In Line at Evercore ISI
As previously reported, Evercore ISI downgraded Suncor to In Line from Outperform and trimmed its price target to C$54 from C$58. Analyst Stephen Richardson believes benefits from integration likely peaked in 2018 and sees some negative revisions in first half 2019. Further, the analyst thinks Suncor is at a crossroads in terms of the challenges integration creates for incremental growth opportunities.
04/03/19
EVER
04/03/19
DOWNGRADE
EVER
In Line
Suncor downgraded to In Line from Outperform at Evercore ISI
03/14/19
03/14/19
UPGRADE
Target $52

Outperform
Suncor upgraded to Outperform at Credit Suisse
As previously reported, Credit Suisse analyst Manoj Gupta upgraded Suncor to Outperform from Neutral, with a $52 price target, after the company's 17% annual dividend hike came in well above estimates of 12%-15%. Besides its dividend hike, Suncor reloaded buyback by $2B, he adds.

TODAY'S FREE FLY STORIES

BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

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  • 08

    Dec

PCG

PG&E

$9.65

-0.13 (-1.33%)

08:12
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SYRS

Syros Pharmaceuticals

$4.60

-0.02 (-0.43%)

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ABBV

AbbVie

$86.97

0.3 (0.35%)

08:06
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RHHBY

Roche

$0.00

(0.00%)

08:03
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ORTX

Orchard Therapeutics

$11.85

0.37 (3.22%)

07:59
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SRRA

Sierra Oncology

$0.49

0.1035 (27.13%)

06:55
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12/08
06:55
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06:55
Conference/Events
Sierra Oncology to hold an analyst and investor event »

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03/08/13
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03/06/13
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  • 08

    Dec

RUHN

Ruhnn

$6.19

-0.2 (-3.13%)

04:55
12/08/19
12/08
04:55
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04:55
Conference/Events
Ruhnn management to meet with Mizuho »

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    Dec

  • 09

    Dec

04:55
12/08/19
12/08
04:55
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04:55
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Piper Jaffray biotech analysts to hold a KOL luncheon »

Biotech Analysts hold a…

SRRA

Sierra Oncology

$0.49

0.1035 (27.13%)

04:55
12/08/19
12/08
04:55
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04:55
Conference/Events
Sierra Oncology to hold an analyst and investor event »

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03/08/13
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  • 08

    Dec

MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

19:31
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12/07
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Magenta reports results from MGTA-145 stem cell mobilization program »

Magenta Therapeutics…

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  • 07

    Dec

  • 07

    Dec

PFE

Pfizer

$38.29

0.26 (0.68%)

, BMY

Bristol-Myers

$59.94

0.435 (0.73%)

19:29
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Bristol-Myers Squibb-Pfizer Alliance reports analysis of Eliquis »

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PFE

Pfizer

$38.29

0.26 (0.68%)

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 07

    Dec

  • 08

    Dec

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  • 11

    Dec

UMRX

Unum Therapeutics

$0.70

0.0177 (2.61%)

19:25
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12/07
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19:25
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Unum Therapeutics announces Phase 1 clinical updates for T-cell therapies »

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  • 07

    Dec

MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

19:25
12/07/19
12/07
19:25
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19:25
Conference/Events
Magenta Therapeutics to hold an investor and analyst event »

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  • 07

    Dec

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    Dec

AUTL

Autolus Therapeutics

$14.60

-0.18 (-1.22%)

19:23
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Autolus presents new data on T cell therapies in leukemia, lymphoma »

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  • 07

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BMY

Bristol-Myers

$59.94

0.435 (0.73%)

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Bristol-Myers says lisocabtagene maraleucel study met both endpoints »

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SGEN

Seattle Genetics

$117.52

0.37 (0.32%)

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GILD

Gilead

$67.09

1.16 (1.76%)

19:12
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  • 07

    Dec

CRTX

Cortexyme

$28.00

-6.15 (-18.01%)

19:10
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MNK

Mallinckrodt

$3.40

0.015 (0.44%)

12:15
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  • 07

    Dec

STOK

Stoke Therapeutics

$28.91

3.99 (16.01%)

12:13
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Stoke Therapeutics presents preclinical data from studies of STK-001 »

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APTO

Aptose Biosciences

$2.55

-0.04 (-1.54%)

12:11
12/07/19
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Aptose reports CG-806 data in patients with chronic lymphocytic leukemia »

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EPZM

Epizyme

$18.22

2.9 (18.93%)

10:09
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PRNB

Principia Biopharma

$37.30

0.86 (2.36%)

10:07
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FB

Facebook

$200.99

1.64 (0.82%)

, GOOGL

Alphabet Class A

$1,339.41

11.6 (0.87%)

09:31
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12/07
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On The Fly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

FB

Facebook

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1.64 (0.82%)

GOOGL

Alphabet Class A

$1,339.41

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GOOG

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$1,341.23

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AAPL

Apple

$270.71

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AMZN

Amazon.com

$1,750.79

10.2 (0.59%)

SQ

Square

$68.00

0.85 (1.27%)

TWTR

Twitter

$30.19

0.16 (0.53%)

CSIQ

Canadian Solar

$18.35

0.39 (2.17%)

FSLR

First Solar

$53.36

1.06 (2.03%)

JASO

JA Solar

$0.00

(0.00%)

SPWR

SunPower

$7.23

0.15 (2.12%)

TSL

Trina Solar

$0.00

(0.00%)

YGE

Yingli Green Energy

$0.00

(0.00%)

AKS

AK Steel

$3.24

0.065 (2.05%)

MT

ArcelorMittal

$17.88

0.43 (2.46%)

NUE

Nucor

$57.60

1.13 (2.00%)

STLD

Steel Dynamics

$35.10

0.67 (1.95%)

TMST

TimkenSteel

$6.90

0.41 (6.32%)

X

U.S. Steel

$13.95

0.615 (4.61%)

AA

Alcoa

$20.60

0.68 (3.41%)

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