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SCHW

Charles Schwab

$49.50

-0.35 (-0.70%)

, AMTD

TD Ameritrade

$51.83

-0.34 (-0.65%)

07:58
12/02/19
12/02
07:58
12/02/19
07:58

Charles Schwab upgraded to Neutral from Sell at UBS

UBS analyst Brennan Hawken upgraded Charles Schwab (SCHW) to Neutral from Sell with a price target of $50, up from $35. The analyst says the new price target assumes a 20-times forward earnings multiple vs. 14-times prior, with the benefits of eliminating $1.9B of expenses related to the TD Ameritrade (AMTD) merger offsetting the "environmental pressure and 'cash sorting' that drove his prior caution. Hawken further notes that investors may see an "attractive entry point" in time, but he remains concerned with revenue dis-synergy at TD Ameritrade, where clients may seeks to avoid a risk related to service integration in its active trader platform and which may see E-Trade (ETFC) picking up market share as a result.

SCHW

Charles Schwab

$49.50

-0.35 (-0.70%)

AMTD

TD Ameritrade

$51.83

-0.34 (-0.65%)

ETFC

E-Trade

$44.31

-0.19 (-0.43%)

  • 26

    Feb

SCHW Charles Schwab
$49.50

-0.35 (-0.70%)

11/26/19
WELS
11/26/19
UPGRADE
Target $53
WELS
Market Perform
TD Ameritrade upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo analyst Christopher Harris upgraded TD Ameritrade (AMTD) to Market Perform from Underperform with a price target of $53, up from $34, to reflect the current implied takeout value after the company announced a deal to be acquired by Charles Schwab (SCHW). He maintains a Market Perform rating on Schwab too and raised his price target on its shares to $52 from $42 due to the anticipated deal related EPS accretion and better than expected synergies.
11/27/19
LEHM
11/27/19
UPGRADE
Target $53
LEHM
Equal Weight
TD Ameritrade upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Jeremy Campbell upgraded TD Ameritrade (AMTD) to Equal Weight from Underweight with a $53 price target following the company's merger agreement with Charles Schwab (SCHW).
11/27/19
LEHM
11/27/19
UPGRADE
Target $49
LEHM
Equal Weight
Charles Schwab upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Jeremy Campbell upgraded Charles Schwab to Equal Weight from Underweight with a $49 price target.
11/27/19
LEHM
11/27/19
UPGRADE
Target $49
LEHM
Equal Weight
Charles Schwab upgraded to Equal Weight with $49 price target at Barclays
Barclays analyst Jeremy Campbell upgraded Charles Schwab (SCHW) to Equal Weight from Underweight with a price target of $49, up from $35. The analyst this morning also upgraded TD Ameritrade (AMTD) to Equal Weight from Underweight. Schwab's acquisition of Ameritrade unlocks an expected $1.8B-$2B of cost synergies, Campbell tells investors in a research note. Based on the "relatively in-line valuation to the current price," he upgrades both stocks to Equal Weight.
AMTD TD Ameritrade
$51.83

-0.34 (-0.65%)

11/26/19
SBSH
11/26/19
UPGRADE
Target $53
SBSH
Neutral
TD Ameritrade upgraded to Neutral from Sell at Citi
Citi analyst William Katz upgraded TD Ameritrade (AMTD) to Neutral from Sell with a price target of $53, up from $31, following the company's takeover by Charles Schwab (SCHW). To reflect related merger synergies, the analyst also raised his price target for Neutral-rated Schwab to $49 from $40. The deal offers Schwab favorable earnings growth, but the ~10% move in the shares since just prior to the transaction "seemingly captures much of the upside," Katz tells investors in a research note.
ETFC E-Trade
$44.31

-0.19 (-0.43%)

10/18/19
RAJA
10/18/19
NO CHANGE
Target $47
RAJA
Outperform
E-Trade price target raised to $47 from $45 at Raymond James
Raymond James analyst Patrick O'Shaughnessy raised his price target for E-Trade to $47 from $45 and maintained an Outperform rating following the company's Q3 results. In a research note to investors, the analyst says he believes E-Trade's reluctance to pursue a sale in the wake of the most recent round of commission reductions will "frustrate" many investors, but feels that management's commentary leaves the door open for a possible suitor. In the meantime, the analyst says E-Trade is taking aggressive steps to defend EPS such as operating expense reductions and sizable share repurchases.
11/21/19
BOFA
11/21/19
NO CHANGE
BOFA
BofA says Schwab-TD Ameritrade 'not the most likely expected combination'
BofA Merrill Lynch analyst Michael Carrier remarked on the CNBC report that Charles Schwab (SCHW) and TD Ameritrade (AMTD) are in merger discussions, stating that "this is not the most likely expected combination" but he believes such a deal could make strategic sense. The bank relationship with TD (TD) creates some complications, there could be some dis-synergies and a bit of a tougher regulatory approval process, all of which would likely make the deal less accretive for Schwab than other potential deals, Carrier contends. He also said he expects most firms in the sector, including E-Trade (ETFC), to be in merger discussions and sees activity to be active in the sector in the near-term, benefiting the online broker stocks in general.
11/21/19
JEFF
11/21/19
NO CHANGE
JEFF
TD Ameritrade-Schwab deal 'makes sense,' has financial merits, says Jefferies
Following media reports about the potential for a combination of TD Ameritrade (AMTD) with Charles Schwab (SCHW), Jefferies analyst Daniel Fannon said E-Trade (ETFC) "has long been the favorite as a take-out candidate," but that this hypothetical deal also has a strategic rationale and "makes sense" given the financial merits. Assuming 50% cost synergies and a majority equity transaction, he estimates a potential combination to be 12% to 16% accretive for Schwab, Fannon tells investors. The near-term prospects of a merger for E-Trade are "not as logical" if its two most likely buyers pair up, but its scarcity value would increase and the uniqueness of its platform remains a potential benefit, added Fannon. He still views E-Trade as part of the ongoing consolidation trend in the industry, but said timing of any deal is "difficult to predict."
11/22/19
DBAB
11/22/19
NO CHANGE
DBAB
Schwab, Ameritrade tie-up would be modestly accretive, says Deutsche Bank
Following reports that Charles Schwab (SCHW) is in talks to acquire TD Ameritrade (AMTD) for approximately $50 per share, Deutsche Bank analyst Brian Bedell refreshed his deal model. The analyst now sees a combination as "at least modestly accretive" to Schwab earnings over a three-year time horizon "using conservative assumptions." He also thinks E-Trade Financial (ETFC) could benefit from customer attrition at a combined Schwab/Ameritrade.

TODAY'S FREE FLY STORIES

TDOC

Teladoc

$77.06

-0.36 (-0.46%)

05:04
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TTMI

TTM Technologies

$13.79

0.19 (1.40%)

05:01
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FII

Federated Investors

$34.41

0.41 (1.21%)

05:01
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05:01
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Federated Investors rating change  »

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AMK

AssetMark Financial

$27.31

0.42 (1.56%)

05:00
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VCTR

Victory Capital

$21.68

0.235 (1.10%)

05:00
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Victory Capital rating change  »

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EV

Eaton Vance

$47.08

0.395 (0.85%)

05:00
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12/13
05:00
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05:00
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Eaton Vance rating change  »

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PZZA

Papa John's

$60.47

-0.37 (-0.61%)

04:59
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Initiation
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  • 18

    Dec

NGLOY

Anglo American

$0.00

(0.00%)

04:57
12/13/19
12/13
04:57
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04:57
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Anglo American rating change  »

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04:55
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General news
Retail Sales less autos to be reported at 08:30 »

November Retail Sales…

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New York Federal Reserve…

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ACB

Aurora Cannabis

$2.61

0.15 (6.10%)

, CRON

Cronos Group

$7.31

0.49 (7.18%)

04:55
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12/13
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Conference/Events
MJBizDaily to hold a conference »

Marijuana Business…

ACB

Aurora Cannabis

$2.61

0.15 (6.10%)

CRON

Cronos Group

$7.31

0.49 (7.18%)

NFX

Newfield Exploration

$0.00

(0.00%)

CGC

Canopy Growth

$21.14

0.84 (4.14%)

03/08/13
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ASML

ASML

$287.22

3.3 (1.16%)

04:55
12/13/19
12/13
04:55
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04:55
Conference/Events
ASML management to meet with KeyBanc »

Meeting to be held in…

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  • 13

    Dec

UBX

Unity Biotechnology

$8.30

0.61 (7.93%)

04:55
12/13/19
12/13
04:55
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04:55
Recommendations
Unity Biotechnology analyst commentary  »

Unity Biotechnology…

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  • 19

    Dec

COUP

Coupa Software

$136.91

-7.2 (-5.00%)

, CRWD

Crowdstrike

$47.25

-0.49 (-1.03%)

04:55
12/13/19
12/13
04:55
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Conference/Events
FBN to hold a bus tour »

17th Semi-Annual Silicon…

COUP

Coupa Software

$136.91

-7.2 (-5.00%)

CRWD

Crowdstrike

$47.25

-0.49 (-1.03%)

FEYE

FireEye

$16.33

0.095 (0.59%)

FSCT

ForeScout

$34.24

0.73 (2.18%)

FTNT

Fortinet

$104.45

0.29 (0.28%)

NOW

ServiceNow

$265.76

-1.665 (-0.62%)

NTAP

NetApp

$62.73

2.12 (3.50%)

PFPT

Proofpoint

$112.97

-0.03 (-0.03%)

PSTG

Pure Storage

$16.50

0.16 (0.98%)

QLYS

Qualys

$84.80

0.46 (0.55%)

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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  • 13

    Dec

  • 17

    Dec

  • 06

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    Jan

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    Jan

  • 10

    Mar

  • 11

    Mar

  • 09

    Dec

EA

Electronic Arts

$105.08

1.9 (1.84%)

, ATVI

Activision Blizzard

$58.60

2.12 (3.75%)

04:55
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Conference/Events
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Digital Media Analyst…

EA

Electronic Arts

$105.08

1.9 (1.84%)

ATVI

Activision Blizzard

$58.60

2.12 (3.75%)

GME

GameStop

$5.58

0.05 (0.90%)

NTDOY

Nintendo

$0.00

(0.00%)

TTWO

Take-Two

$125.33

2.95 (2.41%)

UBSFY

Ubisoft

$0.00

(0.00%)

03/08/13
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  • 13

    Dec

  • 13

    Dec

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October Business…

TTWO

Take-Two

$125.33

2.95 (2.41%)

04:55
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12/13
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Conference/Events
Take-Two management to meet with MKM Partners »

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  • 13

    Dec

  • 13

    Dec

HY

Hyster-Yale Materials

$64.70

1.14 (1.79%)

04:55
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Conference/Events
Hyster-Yale Materials management to meet with Sidoti »

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  • 13

    Dec

  • 26

    Feb

OGI

Organigram

$2.57

(0.00%)

04:55
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Conference/Events
Organigram management to meet with Cantor Fitzgerald »

Analyst Pablo Zuanic…

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  • 13

    Dec

04:55
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BTIG biotech analysts to hold an analyst/industry conference call »

Biotech Analysts, along…

ABB

ABB

$23.62

0.685 (2.99%)

, MMM

3M

$168.54

-0.19 (-0.11%)

04:55
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European Multi-Industry…

ABB

ABB

$23.62

0.685 (2.99%)

MMM

3M

$168.54

-0.19 (-0.11%)

SCHN

Schnitzer Steel

$22.39

0.22 (0.99%)

UTX

United Technologies

$149.49

2.2 (1.49%)

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  • 29

    Jan

NWSA

News Corp.

$13.79

0.475 (3.57%)

04:55
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  • 13

    Dec

AMD

AMD

$42.61

3.16 (8.01%)

, ANET

Arista Networks

$192.72

1.48 (0.77%)

04:55
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12/13
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Fish & Chips:…

AMD

AMD

$42.61

3.16 (8.01%)

ANET

Arista Networks

$192.72

1.48 (0.77%)

CSCO

Cisco

$45.64

1.37 (3.09%)

JNPR

Juniper

$24.37

0.36 (1.50%)

MCHP

Microchip

$103.11

3.79 (3.82%)

MRVL

Marvell

$25.65

0.87 (3.51%)

NVDA

Nvidia

$224.19

6.86 (3.16%)

NXPI

NXP Semiconductors

$123.98

2.54 (2.09%)

VMW

VMware

$156.15

5.15 (3.41%)

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