2019-12-02 14:39:07BAC  - $33.52
0.21 (0.63%) , C  - $74.92
-0.1 (-0.13%) … 14:3912/02/19 12/0214:39 12/02/1914:39 | Goldman says Fed may let inflation run a little 'hotter' than normal, CNBC saysAccording to CNBC, the U.S. Federal Reserve bank is in the midst of a review of its policies to consider "alternative approaches to targeting inflation." Goldman Sachs believes the Fed will decide "to allow overshoots of its inflation goal next year," added the CNBC story. "If implemented ... this change would decrease the likelihood of further near-term policy tightening and lead to a small and gradual increase in both expected and realized price inflation," says Goldman's equity strategist Ben Snider, according to CNBC's Yun Li. Publicly traded companiestaht may be impacted include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link BAC  - $33.52
0.21 (0.63%) C  - $74.92
-0.1 (-0.13%) JPM  - $131.71
0.05 (0.04%) USB  - $59.92
-0.13 (-0.22%) WFC  - $53.93
-0.47 (-0.86%) GS  - $217.97
-3.16 (-1.43%) MS  - $49.29
-0.19 (-0.38%) | |
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 - $33.52
0.21 (0.63%) - 10/29/19
- SOCG
10/29/19 DOWNGRADESOCG Sell Bank of America downgraded to Sell from Hold at Societe Generale Societe Generale analyst Andrew Lim downgraded Bank of America to Sell from Hold. - 10/28/19
Bank of America upgraded to Buy from Hold at Odeon Capital As previously reported, Odeon Capital analyst Dick Bove upgraded Bank of America to Buy from Hold. Bove called the stock "a good investment," noting Bank of America's growth from a company "struggling to maintain its existence" to a large, stable one, although not the growth vehicle it once was. The analyst sees a revenue growth rate of 3.3% per year from now to 2025, net income that could grow at 4.9%, and earnings per share that could grow at 6.5%. He believes the increased confidence in Bank of America stock is driven by the company's balance sheet strength and its decision to base future growth on "internally generated revenues and earnings." Bove believes as long as it can "maintain reasonable loan quality its future earnings and dividend growth lends itself to a relatively high level of predictability." - 10/28/19
- ODEN
Bank of America upgraded to Buy from Hold at Odeon Capital Odeon Capital analyst Dick Bove upgraded Bank of America to Buy from Hold. - 10/22/19
Fly Intel: Top five analyst upgrades Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Outperform from In-Line at Imperial Capital with analyst David Miller sayign amidst changes in the Media sector, and against "various levels of turmoil" within many of the company's peers, Discovery has emerged "as one of the cleaner stories in the sector." 2. Dropbox (DBX) upgraded to Buy from Neutral at Nomura Instinet with analyst Christopher Eberle saying the company is nearing an inflection in revenue after six quarters of deceleration as a public company and its current valuation is attractive. 3. Workday (WDAY) and Anaplan (PLAN) upgraded to Outperform from In Line at Evercore ISI. 4. Owens Corning (OC) upgraded to Buy from Neutral at Buckingham with analyst Megan McGrath saying the company's installation business should benefit from recent improved volumes in residential U.S. construction and potentially improved price stability. 5. Bank of America (BAC) upgraded to Overweight from Neutral at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.  - $74.92
-0.1 (-0.13%) - 11/07/19
- BOFA
11/07/19 NO CHANGETarget $85 BOFA Buy Citi price target raised to $85 from $78 at BofA/Merrill BofA/Merrill analyst Erika Najarian raised her price target on Citi to $85 and kept her Buy rating, saying the company's "renewed U.S. consumer strategy" may help in its transition to a "story stock" from a "value stock". The analyst cites Citi's recent progress and forward vision of its new Head of Consumer Banking, Anand Selva, in growing its Branded Cards business, boosting her confidence in her FY20 projections. - 10/24/19
Citigroup to hold a conference call Conference call to discuss 3Q19 Fixed Income Investor Review will be held on October 29 at 11 am. Reference Link - 10/16/19
- BMOC
10/16/19 NO CHANGETarget $57 BMOC Market Perform Wells Fargo price target lowered to $57 from $59 at BMO Capital BMO Capital analyst James Fotheringham lowered his price target on Wells Fargo (WFC) to $57 and kept his Market Perform rating after its Q3 results. The analyst cites the bank's lower than expected net interest income along with a miss on fees and a higher than anticipated operating costs. Fotheringham contends that before the new Wells Fargo CEO arrives and administers a strategic review, there are better investment opportunities in large cap banks that include Citi (C), Bank of America (BAC), Capital One (COF) and Morgan Stanley (MS). - 09/24/19
- MSCO
Large-cap banks aren't gaining deposit market share, says Morgan Stanley Morgan Stanley analyst Ken Zerbe said he continues to hear the "false narrative" that large-cap banks must be gaining market share due to their superior technology, but he insists they are not and that small and mid-cap banks have consistently gained deposit market share over the last five years. Individual large-cap banks that have had the biggest deposit share gains include Goldman Sachs (GS), Ally Financial (ALLY) and Synchrony Financial (SYF), while mid-cap banks that have delivered the biggest gains in share of total deposits include First Republic (FRC), KeyCorp (KEY) and Huntington (HBAN), Zerbe tells investors. Large-cap banks that have seen the largest declines in their respective individual shares of total deposits include JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C), while deposit share losers among mid-cap banks include Comerica (CMA), Prosperity Bancshares (PB) and Zions (ZION), said Zerbe.  - $131.71
0.05 (0.04%) - 10/16/19
- BMOC
10/16/19 NO CHANGETarget $126 BMOC Market Perform JPMorgan price target raised to $126 from $120 at BMO Capital BMO Capital analyst James Fotheringham raised his price target on JPMorgan to $126 after its Q3 earnings beat, driven by its higher than expected fees and lower costs. The analyst also raises his FY19 and FY20 EPS views by 21c and 9c to $10.73 and $11.13 respectively but keeps his Marker Perform rating on valuation, noting that its 2-year forward price-to-earnings multiple is just slightly below its long-term historical average. - 10/29/19
- SOCG
10/29/19 DOWNGRADESOCG Sell JPMorgan downgraded to Sell from Hold at Societe Generale Societe Generale analyst Andrew Lim downgraded JPMorgan to Sell from Hold. - 10/16/19
- RBCM
10/16/19 NO CHANGETarget $125 RBCM Outperform JPMorgan price target raised to $125 from $120 at RBC Capital RBC Capital analyst Gerard Cassidy raised his price target on JPMorgan to $125 and kept his Outperform rating after its Q3 earnings beat driven by "strong" fixed income/currency/commodity trading business and mortgage banking results. The analyst expects JPMorgan to continue its "successful" execution, overcoming any drag related to lower interest rate spread income. Cassidy also raises his FY19 and FY20 EPS views by 19c and 36c to $10.30 and $10.85, anticipating 1-2 more interest rate cuts next year followed by the steepening in the yield curve. - 11/01/19
Rice University-Jones Graduate School of Business to hold a summit Rice Energy Finance Summit will be held in Houston on November 1.  - $59.92
-0.13 (-0.22%) - 09/30/19
- BOFA
09/30/19 DOWNGRADEBOFA Underperform U.S. Bancorp downgraded to Underperform from Neutral at BofA/Merrill - 09/30/19
- BOFA
09/30/19 DOWNGRADETarget $53 BOFA Underperform U.S. Bancorp downgraded to Underperform from Neutral at BofA/Merrill BofA/Merrill analyst Erika Najarian downgraded U.S. Bancorp to Underperform and lowered her price target to $53 from $55 after its 2019 Investor Day presentation maintained its long-term efficiency and ROTCE expectations while lowering its revenue and earnings forecasts "only modestly". The analyst contends that the bank is facing "execution risk" against its premium valuation and believes that the 5%-7% revenue and 7%-10% earnings growth will be difficult to achieve, even though the management is making a case for "doing more" with the company's current client base. - 09/30/19
Fly Intel: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. UnitedHealth (UNH) and Humana (HUM) downgraded to Market Perform from Outperform at BMO Capital. 2. U.S. Bancorp (USB) downgraded to Underperform from Neutral at BofA/Merrill with analyst Erika Najarian citing its 2019 Investor Day presentation maintained its long-term efficiency and ROTCE expectations while lowering its revenue and earnings forecasts "only modestly." 3. SunCoke Energy (SXC) downgraded to Neutral from Buy at B. Riley FBR with analyst Lucas Pipes saying he sees a number of events that present "significant headline risk" for the stock as well as a lack of near-term positive catalysts. 4. Rockwell Automation (ROK) downgraded to Market Perform from Outperform at Wells Fargo with analyst Deepa Raghavan saying her U.S. distributor and industry channel checks indicated "rapidly deteriorating" demand conditions in the quarter. 5. Mammoth Energy (TUSK) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson saying he made the mistake of viewing Mammoth 's Puerto Rico operations as a business, when it ended up being just a contract. 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
- SBSH
10/08/19 DOWNGRADESBSH Sell U.S. Bancorp downgraded to Sell from Neutral at Citi Citi analyst Keith Horowitz downgraded U.S. Bancorp to Sell from Neutral.  - $53.93
-0.47 (-0.86%) - 12/02/19
- RAJA
12/02/19 DOWNGRADERAJA Underperform Raymond James downgrades Wells Fargo to Underperform on expected earnings cuts Raymond James analyst David Long downgraded Wells Fargo to Underperform from Market Perform without a price target. Negative earnings revisions will provide a headwind for Wells Fargo's shares, Long tells investors in a research note. The analyst, whose estimates are now below consensus, expects the bank's revenue to contract for the fourth straight year in 2020. Further, he believes Wells' profitability metrics will remain below-peer and that any profitability improvement plan initiated by new CEO Charlie Scharf would reduce earnings estimates before becoming accretive. - 10/22/19
- ODEN
10/22/19 DOWNGRADEODEN Hold Wells Fargo downgraded to Hold from Buy at Odeon Capital Odeon Capital analyst Richard Bove downgraded Wells Fargo to Hold from Buy despite his view of the bank as "one of the most powerful companies in the United States" in spite of "all of its problems and all of its challenges." However, Wells' net interest margins will remain under pressure, sending its net interest income lower, while its costs are unlikely to decline any time soon and it faces more legal and regulatory issues, Bove tells investors. - 11/15/19
- ROTH
11/15/19 DOWNGRADETarget $8 ROTH Neutral Mitek Systems downgraded on USAA litigation risk at Roth Capital Roth Capital analyst Darren Aftahi downgraded Mitek Systems (MITK) to Neutral from Buy with a price target of $8, down from $12.50. The potential "trickle-down litigation risk" from USAA against Mitek's mobile deposit customer's acts is "too big of a risk/uncertainty to shares," Aftahi tells investors in a research note. He believes this could drag on for an extended period of time, causing distraction and additional legal costs. While Mitek does not believe it is the target of a lawsuit from USAA, the ruling in favor of USAA against Wells Fargo (WFC) could prove to be too big of a risk to justify buying Mitek shares currently, says Aftahi. - 12/02/19
- RAJA
12/02/19 DOWNGRADERAJA Underperform Wells Fargo downgraded to Underperform from Market Perform at Raymond James Raymond James analyst David Long downgraded Wells Fargo to Underperform from Market Perform.  - $217.97
-3.16 (-1.43%) - 10/14/19
- KBWI
Hard for Goldman, Morgan Stanley to justify E-Trade deal, says Keefe Bruyette Keefe Bruyette analyst Brian Kleinhanzl looked into whether an acquisition of E-Trade (ETFC) would make sense for Goldman Sachs (GS) or Morgan Stanley (MS) after the electronic brokers reduced their commission rates. The analyst says he could make the strategic rationale for why a broker would buy an e-broker, namely cost savings and customer base expansion. However, ultimately a deal has to make sense financially as well, and it would be hard for Morgan or Goldman to justify on this basis, Kleinhanzl tells investors in a research note. In addition, with both brokers trading near tangible book value, shareholders would prefer buybacks versus an acquisition as a better use of shareholder capital at this point in the cycle, adds the analyst. As such a result, Kleinhanzl sees a deal for E-Trade as unlikely given the financial and capital impacts. He would be surprised if either broker aggressively pursued E-Trade as an acquisition. - 10/02/19
- ODEN
10/02/19 NO CHANGEODEN Hold Goldman Sachs 'quite likely' to beat Q3 earnings consensus, says Odeon Capital Odeon Capital analyst Richard Bove pointed out three reasons that he believes it is "quite likely" that Goldman Sachs will top the Q3 consensus EPS forecast of $5.41. The bank was ranked by Bloomberg as number one in U.S. equity offerings in the quarter, trading activity is likely to be higher on both a sequential and year-over-year basis and Goldman "typically" starts the process of lowering estimated compensation expenses in Q3, said Bove. Bove keeps a Hold rating on Goldman Sachs shares, noting that he thinks Goldman is unlikely to match its Q3 results in Q4. - 10/16/19
- OPCO
10/16/19 NO CHANGETarget $301 OPCO Outperform Goldman Sachs price target lowered to $301 from $316 at Oppenheimer Oppenheimer analyst Chris Kotowski lowered his price target for Goldman Sachs to $301 from $316 following quarterly results. The analyst reiterates an Outperform rating on the shares. - 10/16/19
- BMOC
10/16/19 NO CHANGETarget $278 BMOC Market Perform Goldman Sachs price target raised to $278 from $273 at BMO Capital BMO Capital analyst James Fotheringham raised his price target on Goldman Sachs to $278 after its Q3 earnings beat that was driven by higher than expected Institutional Client Services revenues coming from higher equities trading results and "notably lower" compensation expenses. Despite the 37% total return implied by his price target however, the analyst is keeping his Market Perform rating on the company, saying he prefers to remain on the sidelines until the conclusion of its "front-to-back" business line review expected in January of next year as well as the potential disclosure of its new efficiency and return targets.  - $49.29
-0.19 (-0.38%) - 10/29/19
- ODEN
10/29/19 DOWNGRADEODEN Hold Morgan Stanley downgraded to Hold from Buy at Odeon Capital Odeon Capital analyst Richard Bove downgraded Morgan Stanley to Hold from Buy. While he views CEO James Gorman as among "the best and the brightest" on Wall Street, Bove believes the bank is now in a "very difficult situation" as its Asset and Wealth Management and Trading businesses are facing "price destruction due to technology." Also, the bank has slowed the growth in it common equity "at a time when recurring revenue streams from capital intensive lending are very necessary," Bove tells investors. - 10/10/19
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 Neutral at Longbow with analyst Shawn Harrison saying his contacts, who previously gave him initial conservative forecasts for up to a 10% year-over-year decline in iPhone production in the calendar third quarter, now see flat production in the period of Apple's fiscal fourth quarter. 2. Qorvo (QRVO) and Skyworks (SWKS) upgraded to Outperform from Market Perform at Cowen. 3. Allegheny Technologies (ATI) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Korn saying Allegheny is one of few stocks in the sector with sales growth that does not depend on a commodity price recovery. 4. Bed Bath & Beyond (BBBY) upgraded to Outperform from Market Perform at Telsey Advisory. 5. Morgan Stanley (MS) upgraded to Buy from Hold at Sandler O'Neill with analyst Jeffery Harte citing 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. |