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UPS

UPS

$116.81

-1.68 (-1.42%)

, FDX

FedEx

$159.05

2.07 (1.32%)

08:28
12/12/19
12/12
08:28
12/12/19
08:28

Morgan Stanley cuts UPS, FedEx price targets on growing Amazon risk

Morgan Stanley analyst Ravi Shanker estimates Amazon (AMZN) is delivering 46% of U.S. packages bought on its platform through Amazon Logistics, its in-house logistics operation, and he believes "AMZNL" is already shipping at a run rate of over 2.5B packages annually in the U.S. as of August. He also continues to believe that a Third-Party Logistics offering is coming from the e-commerce giant, Shanker tells investors. Contrary to what he views as the general investor perception that Amazon is still in the very early stages of building out its logistics network, Shanker thinks "the already large and quick ramp of AMZNL represent a large opportunity-loss" and competitive risk for the parcel carrying leaders. He lowered his price target on UPS (UPS) to $78 from $85 and keeps an Underweight rating on the shares while trimming his FedEx (FDX) target to $111 from $120 and maintaining an Equal Weight rating on the stock.

UPS

UPS

$116.81

-1.68 (-1.42%)

FDX

FedEx

$159.05

2.07 (1.32%)

AMZN

Amazon.com

$1,749.00

9.85 (0.57%)

  • 17

    Dec

UPS UPS
$116.81

-1.68 (-1.42%)

10/29/19
WELS
10/29/19
INITIATION
Target $138
WELS
Outperform
UPS initiated with an Outperform, $138 price target at Wells Fargo
Wells Fargo analyst Allison Poliniak-Cusic initiated coverage of UPS with an Outperform rating and $138 price target. In a research note to investors, the analyst says she believes that UPS can deliver strong earnings growth despite the tepid environment through its internal initiatives, as reflected in Q3 results. More importantly, she sees the ability for growth initiatives to accelerate, volume to leverage the more efficient network and capital investment moderating, as a means to accelerate earning growth acting as catalysts for the shares.
12/11/19
12/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. UPS (UPS) downgraded to Market Perform from Outperform at BMO Capital with analyst Fadi Chamoun saying the company's path to improving its profitability and free cash flow is challenging. 2. Dentsply Sirona (XRAY) downgraded to Neutral from Overweight at JPMorgan with analyst Tycho Peterson while the company should continue benefiting from new products, restructuring-related cost savings and a generally conservative approach to guidance, comps are set to get tougher in 2020. 3. Walgreens downgraded to Market Perform from Outperform at Wells Fargo with analyst Peter Costa saying Wells Fargo's new rating parameters focus on relative performance compared to the group, while previously it focused on comparison to the market as a whole. 4. Cigna (CI) downgraded to Underperform from Market Perform at Wells Fargo with analyst Peter Costa saying he believes Cigna's "large" debt load could impede its growth and upside earnings surprises. 5. Prosperity Bancshares (PB) downgraded to Underperform from Market Perform at Hovde Group. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/10/19
BMOC
12/10/19
DOWNGRADE
Target $123
BMOC
Market Perform
BMO downgrades UPS to Market Perform on profit improvement concerns
BMO Capital analyst Fadi Chamoun downgraded UPS to Market Perform from Outperform with a price target of $123, down from $125. The analyst believes the company's path to improving its profitability and free cash flow is challenging. Strong volumes and efficiency gains could drive positive operating leverage, excluding the impact of pension, in the near-term for UPS, Chamoun tells investors in a research note. The analyst, however, has growing concerns that the "fast-growing shift" of business-to-consumer will limit its opportunity to improve operating margins in the U.S. Domestic operations over the medium term. Further, capital intensity and free cash flow, other key elements to the valuation of UPS, offer limited opportunity for improvement, adds the analyst.
12/10/19
BMOC
12/10/19
DOWNGRADE
Target $123
BMOC
Market Perform
UPS downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Fadi Chamoun downgraded UPS to Market Perform from Outperform with a $123 price target.
FDX FedEx
$159.05

2.07 (1.32%)

10/29/19
WELS
10/29/19
INITIATION
Target $189
WELS
Outperform
Wells Fargo says FY20 could be trough in earnings for FedEx
Wells Fargo analyst Allison Poliniak-Cusic initiated coverage of FedEx with an Outperform rating and $189 price target. In a research note to investors, the analyst says she believes shares have well priced the issues of lower volumes in Express from international weakness, ongoing issues with the TNT integration and increased expenses from investments into the shares and sees upside potential to shares based on the view that FY20 could prove to be the trough in earnings as the TNT integration moves toward completion, international demand stabilizes or inflects higher when/if a trade agreement materializes, and FedEx grows into its recent investments, acting as catalysts for the shares.
12/12/19
UBSW
12/12/19
UPGRADE
Target $161
UBSW
Neutral
FedEx upgraded to Neutral from Sell at UBS
UBS analyst Thomas Wadewitz upgraded FedEx to Neutral from Sell with a price target of $161, up from $132. The analyst says his Sell thesis has essentially played out as fiscal 2020 earnings expectations have fallen sharply and the stock has also moved down. While he does not anticipate near term improvement in financial results from FedEx, he believes the shares now reflect the "bad news," limiting further downside.
12/09/19
LEHM
12/09/19
NO CHANGE
Target $185
LEHM
Overweight
FedEx earnings could be nearing a bottom, says Barclays
Barclays analyst Brandon Oglenski thinks FedEx could be nearing a bottom in earnings performance, representing a "potential value opportunity" as the market seeks cyclical exposure. The analyst, who admits he's "less bullish" on the company's fundamental outlook, keeps an Overweight rating on the shares with a $185 price target. Soft international trade outcomes will still weigh on FedEx's earnings, but the previous significant reduction to its fiscal 2020 guidance appears to account for current weakness, Oglenski tells investors in a research note.
12/03/19
KEYB
12/03/19
NO CHANGE
KEYB
Sector Weight
FedEx's Q2 not expected to be a positive inflection, says KeyBanc
KeyBanc analyst Todd Fowler lowered his estimates for FedEx ahead of the company's Q2 earnings report to reflect ongoing macro weakness negatively impacting mix, as well as integration and investment costs for Express & Ground. The analyst now sees FY20 EPS of $12.00, down from $12.25, including a Q2 EPS of $2.75, down from $2.94, and FY21 EPS of $13.75, down from $14.25. Fowler tells investors in a research note that he doesn't expect Q2 to be a positive inflection, with cost actions expected to more fully materialize later in FY20 or FY21, but says Express & Ground margins are likely at an interim bottom with valuation limiting more meaningful downside. He keeps a Sector Weight rating on the shares.
AMZN Amazon.com
$1,749.00

9.85 (0.57%)

12/10/19
JEFF
12/10/19
NO CHANGE
JEFF
Jefferies small business survey points to 'more love' for internet leaders
Jefferies analyst Brent Thill said his survey of 600+ small-to-mid-size businesses indicated that 64% of respondents advertise on Facebook (FB), 50% on Google (GOOGL) and 43% on Instagram. However, usage of advertising on Amazon (AMZN) and Twitter (TWTR) improved in this year's survey compared to last year, noted Thill. When asked where they planned to allocate more ad dollars, 46% and 45% of SMBs pointed to plans to spend more on Facebook and Google, which Thill characterized as "more love for the leaders." Smaller ad businesses, such as Pinterest (PINS) and Snap (SNAP), were not as popular with SMBs, though this highlights a potential opportunity, added the analyst. The survey also showed that Intuit (INTU) leads the SMB market for accounting software, while the most popular web site builders are GoDaddy (GDDY) and Wix (WIX), but Thill believes all three remain underpenetrated. He continues to identify Facebook, Alphabet, Amazon, Wix, Intuit and GoDaddy as top internet picks.
12/05/19
BOFA
12/05/19
DOWNGRADE
Target $140
BOFA
Underperform
F5 Networks downgraded two notches to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Tal Liani double-downgraded F5 Networks (FFIV) to Underperform from Buy with a price target of $140, down from $185. The analyst warns about pressure on the company's revenue growth amid a "secular shift in demand from appliance-based Application Delivery Controllers to software and cloud-based solutions", which has weighed on pricing and also brought in competition from VMware (VMW), Amazon (AMZN), Google (GOOG) along with content delivery network providers like Akamai (AKAM). Liani's new price target assumes a forward earnings multiple of 13-times, down from 16.5-times in his prior model.
12/11/19
MZHO
12/11/19
NO CHANGE
MZHO
Cigna, CVS Health selloff yesterday overdone, says Mizuho
Shares of Cigna (CI) and CVS Health (CVS) were down yesterday on headline risks from the potential for "surprise billing" legislation and, to a lesser extent, Amazon's (AMZN) PillPack becoming an in-network pharmacy provider with Express Scripts client, BCBS of Massachusetts, Mizuho analyst Ann Hynes tells investors in a research note. However, for Cigna, on the positive side, the Wall Street Journal reported that the company is in talks to sell its non-health insurance business for $6B, adds the analyst. She views the selloff in both stocks are overdone. Based on her Washington checks, the analyst believes Majority Leader of the Senate, Senator Mitch McConnell is not supportive of the legislation. As such, Hynes believes the risk of the elimination of spread pricing is low. And while she continues to expect PillPack to pick up pharmacy market share, she expects its market share gains to be slow until Amazon buys a payer.
12/10/19
JEFF
12/10/19
NO CHANGE
Target $2180
JEFF
Buy
Amazon one-day offerings outperformed Target, Walmart in test, says Jefferies
Jefferies analyst Brent Thill said he sampled delivery times during Thanksgiving weekend across popular gifts and grocery products in five key metro areas for Amazon (AMZN), Target (TGT) and Walmart (WMT) and found that Amazon offered one/same-day delivery in meaningfully more markets than either of the brick-and-mortar rivals. Target and Walmart also provided same or next-day shipping on significantly fewer popular gift items, said Thill, who concluded that "one-day delivery isn't created equal." The analyst, who thinks Amazon's superior one-day delivery offering widens its competitive moat, particularly during this year's shortened holiday season, keeps a Buy rating and $2,180 price target on Amazon shares.

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HD

Home Depot

$231.90

3.07 (1.34%)

18:06
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UCFC

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$11.56

-0.02 (-0.17%)

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$31.12

-0.1 (-0.32%)

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FDEF

First Defiance Financial

$31.12

-0.1 (-0.32%)

17:56
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AT&T

$38.36

0.33 (0.87%)

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STIM

Neuronetics

$4.38

-0.01 (-0.23%)

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TCMD

Tactile Systems

$60.76

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EFSC

Enterprise Financial

$48.49

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CPG

Crescent Point Energy

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CHSCP

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IBCP

Independent Bank

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JAZZ

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AMRN

Amarin

$19.91

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$331.98

1.08 (0.33%)

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$0.00

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XOM

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$68.55

-0.26 (-0.38%)

, HES

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$69.87

-0.45 (-0.64%)

16:07
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$69.87

-0.45 (-0.64%)

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