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SPLK

Splunk

$146.92

-2.32 (-1.55%)

, MO

Altria Group

$50.28

0.56 (1.13%)

10:17
12/02/19
12/02
10:17
12/02/19
10:17

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Splunk (SPLK) upgraded to Buy from Neutral at Goldman Sachs with analyst Christopher Merwin saying after a "strong" fiscal Q3 report, the he "several catalysts" for Splunk (SPLK) shares to positively re-rate over the next 12 months. 2. Altria Group (MO) upgraded to Buy from Neutral at Citi with analyst Adam Spielman saying it is becoming hard to argue that "tobacco is being disrupted." 3. Plains All American (PAA) upgraded to Outperform from Neutral at Baird. 4. TreeHouse (THS) upgraded to Outperform from Market Perform at William Blair with analyst Jon Andersen saying private brands puts TreeHouse into a "large industry with ample runway for growth." 5. Spirit Airlines (SAVE) upgraded to Buy from Neutral at Buckingham with analyst Daniel McKenzie saying he downgraded the stock in September, arguing that Spirit's revenue outlook was set to worsen on the return of the 737 MAX (BA), the rollout of JetBlue's (JBLU) Fare Families 2.0 and competitive capacity that doubled, but says revenue worries are dissipating on reduced competitive capacity and revenue initiatives are set to finally gain traction in 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

SPLK

Splunk

$146.92

-2.32 (-1.55%)

MO

Altria Group

$50.28

0.56 (1.13%)

PAA

Plains All American

$17.56

0.08 (0.46%)

THS

TreeHouse

$50.87

1.94 (3.96%)

SAVE

Spirit Airlines

$39.88

0.8 (2.05%)

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    Dec

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    Dec

  • 30

    Jan

  • 04

    Feb

SPLK Splunk
$146.92

-2.32 (-1.55%)

11/26/19
JMPS
11/26/19
NO CHANGE
Target $155
JMPS
Outperform
Splunk price target raised to $155 from $135 at JMP Securities
JMP Securities analyst Erik Suppiger raised his price target on Splunk to $155 and kept his Outperform rating after its Q3 earnings beat and a 28% increase in billings along with its FY20 guidance range. The analyst maintains his view that Splunk is undervalued, currently trading at an enterprise value to expected 2021 revenue multiple of 6.2-times.
12/02/19
GSCO
12/02/19
UPGRADE
Target $180
GSCO
Buy
Splunk upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Christopher Merwin upgraded ReneSola to Buy from Neutral with a price target of $180, up from $147. The shares closed Friday down $1.78 to $149.22. After a "strong" fiscal Q3 report, the analyst sees "several catalysts" for Splunk shares to positively re-rate over the next 12 months. These include a new pricing model that decouples revenue from indexed log volume, newly-reported annual recurring revenue growth, and "de-risked" cash flow expectations through fiscal 2023. For a company that is growing annual recurring revenue over 50%, and should continue to grow at least mid-40% through next year per management guidance, Splunk's current valuation of eight-times 2020 sales is "undemanding," Merwin tells investors in a research note.
11/22/19
DADA
11/22/19
NO CHANGE
Target $160
DADA
Buy
Splunk price target raised to $160 from $150 at DA Davidson
DA Davidson analyst Andrew Nowinski raised his price target on Splunk to $160 and kept his Buy rating after its "strong" Q3 results and "more importantly" a 53% increased in annualized recurring revenue. The analyst sees this metric as important in gauging the health of a SaaS-based company and sees its rate of growth accelerating, reflecting Splunk's market-leading position and the impact of recent acquisitions.
11/22/19
MSCO
11/22/19
NO CHANGE
Target $169
MSCO
Overweight
Splunk providing better visibility with new metrics, says Morgan Stanley
Morgan Stanley analyst Keith Weiss said the bounce back in current RPO bookings at Splunk in Q3 speak to the strength in its core business while the company beginning to provide a total annual recurring revenue, or ARR, metric should give investors a clearer picture of underlying growth. The company's FY23 target of about $1B in operating cash flow should also help investors see through the near-term negative impacts of shortening invoice duration, added Weiss, who keeps an Overweight rating on Splunk shares with a price target of $169.
MO Altria Group
$50.28

0.56 (1.13%)

12/02/19
SBSH
12/02/19
UPGRADE
Target $60
SBSH
Buy
Citi 'getting much more bullish' on cigarettes, upgrades Altria to Buy
Citi analyst Adam Spielman upgraded Altria Group to Buy from Neutral with a price target of $60, up from $47. It is becoming hard to argue that "tobacco is being disrupted," Spielman tells investors in a research note. He believes investors will start to care less about "reduced risk products" and points out that traditional tobacco companies have fallen to price-to-earnings multiples last seen when litigation meant bankruptcy was a realistic prospect. As a result, Spielman is "getting much more bullish on the cigarette companies." He upgraded Altria Group while downgrading Philip Morris (PM) to Neutral with an unchanged price target to $90.
11/19/19
STFL
11/19/19
NO CHANGE
STFL
Buy
Altria slide on Juul lawsuit news 'irrational and illogical,' says Stifel
Stifel analyst Christopher Growe said he views Altria's 2% pullback on news that New York's Attorney General is filing a lawsuit against Juul as "both irrational and illogical" given the fact that Altria does not share in this legal liability. Additionally, the value of Juul has already been written down to $8.3B and he believes the actual value embedded in Altria's nearly $90B in equity value is "only a fraction" of that amount. Growe, who thinks today's volatility in the price of Altria shares is "unwarranted" and presents a strong buying opportunity, keeps a Buy rating on the stock.
12/02/19
SBSH
12/02/19
UPGRADE
SBSH
Buy
Altria Group upgraded to Buy from Neutral at Citi
Citi analyst Adam Spielman upgraded Altria Group to Buy from Neutral.
11/22/19
PIPR
11/22/19
NO CHANGE
Target $52
PIPR
Neutral
Altria checks show 'promising' prospects for iQOS, says Piper Jaffray
Piper Jaffray analyst Michael Lavery says that after his channel checks of the Atlanta iQOS test market, he believes prospects for its U.S. launch are "promising." Altria Group has many tools to responsibly market iQOS, making it visible to a broad audience of adult smokers without attracting underage users, Lavery tells investors in a research note. He believes believe iQOS could benefit as a vapor-free, smoke-free option for consumers. The analyst raised his price target for Altria shares to $52 from $49 and keeps a Neutral rating on the name.
PAA Plains All American
$17.56

0.08 (0.46%)

06/14/19
RBCM
06/14/19
NO CHANGE
Target $27
RBCM
Sector Perform
Plains All American price target lowered to $27 from $29 at RBC Capital
RBC Capital analyst Elvira Scotto lowered her price target on Plains All American to $27 and kept her Sector Perform rating. The analyst notes that while the company offers a "greatly improved balance sheet" and stands to benefit from the Permian Basin crude oil production growth, it also faces rising "competitive headwinds" in the near term.
07/17/19
PIPR
07/17/19
INITIATION
Target $31
PIPR
Overweight
Plains All American initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Pearce Hammond started Plains All American with an Overweight rating and $31 price target. The analyst likes the company's "industry leading" Permian leverage and improving balance sheet.
09/03/19
SCOT
09/03/19
INITIATION
Target $28
SCOT
Outperform
Plains All American initiated with an Outperform at Scotiabank
Scotiabank started Plains All American Pipeline with an Outperform rating and $28 price target.
12/02/19
BARD
12/02/19
UPGRADE
Target $21
BARD
Outperform
Plains All American upgraded to Outperform from Neutral at Baird
Baird analyst Ethan Bellamy upgraded Plains All American Pipeline to Outperform from Neutral with a $21 price target.
THS TreeHouse
$50.87

1.94 (3.96%)

12/02/19
WBLR
12/02/19
UPGRADE
WBLR
Outperform
TreeHouse upgraded to Outperform from Market Perform at William Blair
William Blair analyst Jon Andersen upgraded TreeHouse Foods to Outperform from Market Perform.
07/18/19
BMOC
07/18/19
UPGRADE
Target $65
BMOC
Outperform
TreeHouse upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst Amit Sharma upgraded TreeHouse Foods to Outperform from Market Perform and raised his price target for the shares to $65 from $60. The Snacks business divestiture removes the "final hurdle" in TreeHouse's transition into a smaller but better-managed "operating" company, Sharma tells investors in a research note. He expects improved earnings visibility/predictability, greater control over pricing/margins, and a more efficient manufacturing/operating footprint. Further, the analyst believes the company's transition is not yet reflected in its shares.
08/01/19
STFL
08/01/19
UPGRADE
Target $64
STFL
Buy
TreeHouse upgraded to Buy from Hold at Stifel
Stifel analyst Christopher Growe upgraded TreeHouse to Buy and raised his price target to $64 from $62. The analyst cites the progress made in the company's "transformation program" going back two years which included cost reductions, new CEO appointment, and a sale of its cereal/nut business. Growe contends that TreeHouse has become a company with stronger growth, which should become more evident with its Q4 results.
12/02/19
WBLR
12/02/19
UPGRADE
WBLR
Outperform
William Blair upgrades TreeHouse to Outperform on private brands potential
William Blair analyst Jon Andersen upgraded TreeHouse Foods to Outperform from Market Perform without a price target. Private brands puts TreeHouse into a "large industry with ample runway for growth," Andersen tells investors in a research note. Further, the company has "focused and simplified" its portfolio while making "good strides" with its enterprise strategy, which should bring more consistent financial results in 2020, adds the analyst. As such, he believes the stock's risk/reward looks attractive at current levels.
SAVE Spirit Airlines
$39.88

0.8 (2.05%)

12/02/19
BUCK
12/02/19
UPGRADE
BUCK
Buy
Spirit Airlines upgraded to Buy from Neutral at Buckingham
Buckingham analyst Daniel McKenzie upgraded Spirit Airlines to Buy from Neutral.
12/02/19
BUCK
12/02/19
UPGRADE
Target $50
BUCK
Buy
Spirit Airlines upgraded to Buy at Buckingham, price target raised to $50
Buckingham analyst Daniel McKenzie upgraded Spirit Airlines (SAVE) to Buy from Neutral with a price target of $50, up from $41. In a research note to investors, McKenzie says he downgraded the stock in September, arguing that Spirit's revenue outlook was set to worsen on the return of the 737 MAX (BA), the rollout of JetBlue's (JBLU) Fare Families 2.0 and competitive capacity that doubled, but says revenue worries are dissipating on reduced competitive capacity and revenue initiatives are set to finally gain traction in 2020. The analyst notes that the upgrade could prove "a bit early" until management can demonstrate the events are 21019 are isolated and recoverable.
11/19/19
SUSQ
11/19/19
INITIATION
Target $41
SUSQ
Neutral
Spirit Airlines initiated with a Neutral at Susquehanna
Susquehanna analyst Christopher Stathoulopoulos initiated coverage of Spirit Airlines with a Neutral rating and $41 price target.
10/31/19
SBSH
10/31/19
INITIATION
SBSH
Citi initiates the U.S. airlines sector, says Delta is top pick
Citi analyst Stephen Trent initiated the U.S. airlines sector in a note titled "Initiating coverage: Pick Your Routes Carefully." The analyst initiated Delta (DAL), United Airlines (UAL), and Spirit Airlines (SAVE) with Buy ratings, Southwest (LUV) with a Neutral rating, and American Airlines (AAL) with a Sell rating. Trent said that Delta was his top pick, citing attractive revenue diversity, relatively smooth earnings streams, and solid alliance networks. Trent is Neutral on Southwest as he believes the company's valuation relative to growth, along with 737 MAX risks, put the shares near fair value. The analyst has a Sell on American Airlines due to the company's high leverage, 2020 MAX redeployment, pilot contract negotiations, and valuations concerns.

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FTNW

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$1.37

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TLRD

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$4.96

-0.31 (-5.88%)

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MGI

MoneyGram

$2.29

0.15 (7.01%)

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NFLX

Netflix

$297.59

4.38 (1.49%)

, FOX

Fox Corp.

$35.40

0.47 (1.35%)

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$297.59

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FOX

Fox Corp.

$35.40

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Fox Corp.

$36.27

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DIS

Disney

$147.43

1.31 (0.90%)

NWS

News Corp

$13.61

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NWSA

News Corp.

$13.40

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$314.16

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LULU

Lululemon

$233.70

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XLRN

Acceleron

$49.59

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EVH

Evolent Health

$8.12

-0.87 (-9.68%)

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HZNP

Horizon Pharma

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