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LYV

Live Nation

$64.24

-5.205 (-7.50%)

, ZBRA

Zebra Technologies

$257.82

-0.32 (-0.12%)

18:29
12/13/19
12/13
18:29
12/13/19
18:29

S&P announces changes to S&P 400, 500, 600 indices

S&P Dow Jones Indices will make the following index adjustments to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 to ensure each index more appropriately represents its market capitalization range. The changes will be effective prior to the open of trading on Monday, December 23 to coincide with the December re-balance. Live Nation Entertainment (LYV), Zebra Technologies (ZBRA), and Steris (STE) will move to the S&P 500, switching places with Affiliated Managers Group (AMG), TripAdvisor (TRIP), and The Macerich Co. (MAC), respectively. All companies moving to the S&P 500 have market capitalizations above $12B, and all companies moving to the S&P MidCap 400 have market capitalizations below $4.5B. Grand Canyon Education (LOPE) and Lear (LEA) will replace Oasis Petroleum (OAS) and Southwestern Energy (SWN) in the S&P MidCap 400 respectively. Oasis Petroleum and Southwestern Energy will replace Unit Corp. (UNT) and Frontier Communications (FTR) in the S&P SmallCap 600. Oasis Petroleum and Southwestern Energy are more representative of the small-cap market space, while Unit and Frontier Communications are no longer representative of the small-cap market space. Arrowhead Pharmaceuticals (ARWR) will switch places with Granite Construction (GVA) in the S&P MidCap 400. Arrowhead Pharmaceuticals has a market capitalization more representative of the mid-cap market space, and Granite Construction has a market capitalization more representative of the small-cap market space.

LYV

Live Nation

$64.24

-5.205 (-7.50%)

ZBRA

Zebra Technologies

$257.82

-0.32 (-0.12%)

STE

Steris

$151.93

-1.745 (-1.14%)

AMG

Affiliated Managers

$85.18

-1.77 (-2.04%)

TRIP

TripAdvisor

$29.24

-0.2 (-0.68%)

MAC

Macerich

$26.04

-0.46 (-1.74%)

LOPE

Grand Canyon

$89.24

-0.86 (-0.95%)

LEA

Lear

$129.43

-0.84 (-0.64%)

OAS

Oasis Petroleum

$2.68

-0.295 (-9.93%)

SWN

Southwestern Energy

$2.00

-0.12 (-5.66%)

UNT

Unit Corp.

$0.83

-0.0626 (-6.98%)

FTR

Frontier Communications

$0.68

0.0315 (4.84%)

ARWR

Arrowhead

$66.47

-0.91 (-1.35%)

GVA

Granite Construction

$26.21

-1.335 (-4.85%)

  • 26

    Feb

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    Mar

LYV Live Nation
$64.24

-5.205 (-7.50%)

11/11/19
EVER
11/11/19
UPGRADE
Target $73
EVER
Outperform
Live Nation upgraded to Outperform from In Line at Evercore ISI
Evercore ISI analyst David Joyce upgraded Live Nation Entertainment to Outperform from In Line with a $73 price target.
11/11/19
11/11/19
UPGRADE
Target $73

Outperform
Live Nation upgraded to Outperform from In Line at Evercore ISI
As previously reported, Evercore ISI analyst David Joyce upgraded Live Nation to Outperform from In Line with a $73 price target. The analyst believes Live Nation shares have "pulled back needlessly" following its Q3 earnings results, and recommended taking advantage of the pullback. Joyce sees 2020 as another year of "strong, double-digit" growth in adjusted operating income, or AOI, seeing 2020 AOI of $1.1B. He added that "concert-going is a recession-resilient business model" and as such, he doesn't see any potential recession impact.
10/25/19
JEFF
10/25/19
NO CHANGE
Target $84
JEFF
Buy
Basement East booking positive for Live Nation shares, says Jefferies
Jefferies analyst Khoa Ngo says data work suggests Live Nation Entertainment serving as the exclusive booking agent of The Basement East venue should be additive over the long-term and positive for shares. While financial details were not disclosed, it is important to quantify the venue's popularity to assess the value capture opportunities, which "should be plenty," Ngo tells investors in a research note titled "Honky Tonk Value Capture." The analyst reiterates a Buy rating on Live Nation shares with an $84 price target.
11/12/19
11/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Argo Group (ARGO) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Christopher Campbell saying he believes the company's "sizable" Q4 International reserve charge will restore balance sheet confidence and that new CEO Kevin Rehnberg's U.S. Operations outperformance can be replicated in its International segment. 2. Live Nation (LYV) upgraded to Outperform from In Line at Evercore ISI with analyst David Joyce saying he believes Live Nation shares have "pulled back needlessly" following its Q3 earnings results, and recommended taking advantage of the pullback. 3. Rent-A-Center (RCII) upgraded to Buy from Hold at Stifel with analyst John Baugh saying the recent pullback in the shares creates an attractive entry point. 4. Crowdstrike (CRWD) upgraded to Neutral from Sell at Goldman Sachs with analyst Heather Bellini she sees a more balanced risk/reward with the stock down 23% since her October 11 downgrade to Sell. 5. Teva (TEVA) upgraded to Neutral from Underweight at JPMorgan with analyst Christopher Schott 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.
ZBRA Zebra Technologies
$257.82

-0.32 (-0.12%)

10/30/19
NEED
10/30/19
NO CHANGE
Target $255
NEED
Buy
Zebra Technologies price target raised to $255 from $240 at Needham
Needham analyst James Ricchiuti raised his price target on Zebra Technologies to $255 and kept his Buy rating after its "solid" Q3 earnings beat and "strong" margins. The analyst notes that the company is performing well despite the slowing macro-driven demand as revenues in Q3 grew against a "particularly difficult" comp last year. Ricchiuti adds that Zebra Technologies also represents one of the more "compelling" GARP, or Growth at a Reasonable Price, investment stories.
10/31/19
IMPC
10/31/19
NO CHANGE
Target $265
IMPC
Outperform
Zebra Technologies price target raised to $265 from $245 at Imperial Capital
Imperial Capital analyst Jeff Kessler raised his price target for Zebra Technologies to $265 from $245 saying improved efficiency and favorable sales mix drove higher margins and "strong" Q3 results. The analyst maintains an Outperform rating on the shares.
11/20/19
IMPC
11/20/19
NO CHANGE
Target $265
IMPC
Outperform
Zebra Technologies price target raised to $265 from $245 at Imperial Capital
Imperial Capital analyst Jeff Kessler raised his price target for Zebra Technologies to $265 from $245 saying the impact of tariffs on margins should be more than offset by lower operating costs in Q4. The analyst maintains an Outperform rating on the shares.
11/05/19
JPMS
11/05/19
DOWNGRADE
Target $250
JPMS
Neutral
Zebra Technologies downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Paul Coster downgraded Zebra Technologies to Neutral from Overweight with an unchanged price target of $250. The analyst cites valuation for the downgrade with the shares up 55% year-to-date. Coster, however, sees limited downside risk to estimates.
STE Steris
$151.93

-1.745 (-1.14%)

05/15/19
SPHN
05/15/19
NO CHANGE
Target $150
SPHN
Overweight
STERIS price target raised to $150 from $135 at Stephens
Stephens analyst Chris Cooley raised his price target on STERIS shares to $150 from $135 after the company reported Q4 results that topped consensus, noting that all four of the its business segments had better than expected revenue growth and increased operating margins. Cooley, who said he is confident STERIS can either meet or exceed its FY20 guidance, keeps an Overweight rating on the shares, which he continues to view as a "core holding."
07/10/19
KEYB
07/10/19
DOWNGRADE
KEYB
Sector Weight
Steris downgraded to Sector Weight on valuation at KeyBanc
KeyBanc analyst Matthew Mishan last night downgraded Steris to Sector Weight from Overweight with the shares above his previous price target of $138. The stock, after rallying 43% year-to-date, could be reaching its "vertical limit," Mishan tells investors in a research note. With that said, the analyst remains confident in a "sustained runway for organic growth" for Steris.
07/09/19
KEYB
07/09/19
DOWNGRADE
KEYB
Sector Weight
STERIS downgraded to Sector Weight from Overweight at KeyBanc
AMG Affiliated Managers
$85.18

-1.77 (-2.04%)

01/29/19
01/29/19
DOWNGRADE
Target $119

Hold
Affiliated Managers downgraded to Hold on outflow concerns at Jefferies
As previously reported, Jefferies analyst Daniel Fannon downgraded Affiliated Managers Group to Hold from Buy as he believes flow trends are "poised to get worse before they get better" in 2019. Amid persistent performance challenges, Q4 net outflows for AQR, the firm's largest affiliate in terms of AUM, could reach a mid to high teens percentage, Fannon tells investors. He lowered his price target on Affiliated Managers shares to $119 from $132.
07/29/19
BRRR
07/29/19
NO CHANGE
Target $125
BRRR
Outperform
Affiliated Managers price target lowered to $125 from $135 at Barrington
Barrington analyst Alexander Paris lowered his price target for Affiliated Managers Group to $125 from $135 after the company's Q2 net flows came in below expectations. The analyst, however, keeps an Outperform rating on the shares.
01/29/19
JEFF
01/29/19
DOWNGRADE
JEFF
Hold
Affiliated Managers downgraded to Hold from Buy at Jefferies
Jefferies analyst Daniel Fannon downgraded Affiliated Managers Group to Hold from Buy.
07/30/19
BOFA
07/30/19
DOWNGRADE
BOFA
Underperform
Affiliated Managers downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Michael Carrier downgraded Affiliated Managers to Underperform from Buy and lowered his price target to $85 from $97, saying that while its Q2 earnings topped consensus, the quarter was "mixed" with "elevated" outflows. The analyst believes Q3 EBITDA will decrease on "seasonally lower" rates while outflows will remain elevated due to "performance issues" around quant strategies. Carrier adds that at current valuations, the backdrop is more challenging to find accretive deals.
TRIP TripAdvisor
$29.24

-0.2 (-0.68%)

11/18/19
COWN
11/18/19
UPGRADE
Target $30
COWN
Market Perform
TripAdvisor upgraded to Market Perform from Underperform at Cowen
Cowen analyst Kevin Kopelman upgraded TripAdvisor to Market Perform from Underperform with a $30 price target.
12/02/19
MZHO
12/02/19
NO CHANGE
Target $100
MZHO
Neutral
Expedia price target lowered to $100 from $115 at Mizuho
Mizuho analyst James Lee lowered his price target for Neutral-rated Expedia (EXPE) to $100 from $115 and Neutral-rated TripAdvisor (TRIP) to $35 from $40. Booking Holdings (BKNG) remains the analyst's top online travel agency pick with a Buy rating and $2,150 price target. Google's Core Update has negatively impacted the companies' organic search traffic in March, July and most recently in September, Lee tells investors in a research note. He expects Expedia's search engine optimization traffic decline to accelerate in Q4.
11/14/19
RHCO
11/14/19
NO CHANGE
Target $43
RHCO
Buy
TripAdvisor price target lowered to $43 from $60 at SunTrust
SunTrust analyst Naved Khan lowered his price target on TripAdvisor (TRIP) to $43 after its Q3 earnings miss reported last week. The analyst says he was mistaken in expecting stabilization in the company's Hotels, Media & Platform segment and also underestimated the SEO risk from Google (GOOGL). Khan is keeping his Buy rating on TripAdvisor stock however, stating that its Experiences/Dining business accounts for the "bulk" of its intrinsic value and represents the primary reason to hold the shares.
11/18/19
CEDG
11/18/19
INITIATION
Target $26
CEDG
Underweight
TripAdvisor initiated with an Underweight at Consumer Edge
Consumer Edge analyst Derek Glynn initiated coverage of TripAdvisor with an Underweight rating and $26 price target.
MAC Macerich
$26.04

-0.46 (-1.74%)

09/26/19
BMOC
09/26/19
DOWNGRADE
Target $33
BMOC
Market Perform
Macerich downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Jeremy Metz downgraded Macerich to Market Perform from Outperform and lowered his price target for the shares to $33 from $40. The stock's near-term risk/reward proposition has "skewed lower as potential catalysts dim," Metz tells investors in a research note. The analyst has increasingly lost conviction on the likelihood of a joint venture to raise needed capital and reduce leverage. Further, he sees risk to the ultimate effectiveness at this stage even a venture can be executed given the company's rising capex needs. In addition, there has been "no letup in retailer headwinds," contends Metz.
06/20/19
MSCO
06/20/19
NO CHANGE
Target $30
MSCO
Underweight
Macerich price target lowered to $30 from $45 at Morgan Stanley
Morgan Stanley analyst Richard Hill said he sees cash flow headwinds accelerating at Macerich (MAC) and believes the market underappreciates its deterioration in free cash flow. The analyst, who projects a $150M-$200M cash shortfall every year after payment of the dividend, lowered his price target on Macerich shares to $30 from $45 and keeps an Underweight rating on the stock. He also lowered his price target on Taubman Centers (TCO) to $45 from $50 and cut his price target for Simon Property (SPG) to $170 from $180 to reflect the challenging retail environment. He has Equal Weight ratings on Taubman and Simon shares.
02/08/19
WELS
02/08/19
NO CHANGE
WELS
Wells downgrades Regional Mall REIT sector to Market Weight from Overweight
Wells Fargo analyst Jeffrey Donnelly reduced his rating on the Regional Mall REIT sector to Market Weight from Overweight. The ongoing "revenue disruption" from small-shop and anchor turnover combined with the anchor redevelopment initiatives will be a persistent source of earnings pressure in 2019 and 2020, Donnelly tells investors in a research note. Amid "low and decelerating" core earnings growth relative to other property types, the analyst believes "all but the very best capitalized companies may continue to trade as value ideas." He views Simon Property (SPG) as the dominant global player due to its "strong liquidity, robust balance sheet capacity, high-quality assets, and the depth of personnel capable of undertaking extensive redevelopment programs." Donnelly this morning also downgraded Macerich (MAC) to Market Perform from Outperform and kept an Underperform rating on CBL & Associates (CBL).
09/26/19
09/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HD Supply (HDS) downgraded to Equal Weight from Overweight at Barclays and to Market Perform from Outperform at William Blair. 2. Macerich (MAC) downgraded to Market Perform from Outperform at BMO Capital with analyst Jeremy Metz saying the stock's near-term risk/reward proposition has "skewed lower as potential catalysts dim." 3. Enanta (ENTA) downgraded to Underweight from Neutral at JPMorgan with analyst Eric Joseph saying the EDP-305 results yesterday, while positive and fundamentally de-risking for the compound, fall short of delivering best-in-class status. 4. Timken (TKR) downgraded to Underperform from Neutral at BofA/Merrill with analyst Ross Gilardi saying the company has been "too aggressive" on the M&A front over the past 3-5 years, which poses a risk to its performance in the event of an economic downturn. 5. Northern Trust (NTRS) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken 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.
LOPE Grand Canyon
$89.24

-0.86 (-0.95%)

08/07/19
BRRR
08/07/19
NO CHANGE
Target $145
BRRR
Outperform
Grand Canyon price target raised to $145 from $135 at Barrington
Barrington analyst Alexander Paris raised his price target for Grand Canyon Education to $145 from $135 after the company's Q4 results topped expectations. The analyst sees continued strong enrollment growth and reiterates an Outperform rating on the shares.
08/01/19
BARD
08/01/19
NO CHANGE
Target $145
BARD
Outperform
Grand Canyon weakness a buying opportunity, says Baird
Baird analyst Jeffrey Meuler said the magnitude of decline in Grand Canyon shares due to the risk of disruption from ED Regulation guidance change, is an overreaction. The analyst believes any disruption would be short lived and believes the regulation and competitive commentary from competitors are unlikely to have a negative impact on the company's fundamentals. Meuler reiterated his Outperform rating and $145 price target on Grand Canyon shares.
07/31/19
BARD
07/31/19
NO CHANGE
Target $145
BARD
Outperform
Grand Canyon's Q3 guidance could be impacted by DOE ruling, says Baird
Baird analyst Jeffrey Meuler maintained an Outperform rating and $145 price target on Grand Canyon Education following recently issued guidance from the U.S. Department of Education that makes California-based students ineligible for Title IV funds at out-of-state public and not-for-profit private universities. In a research note to investors, Meuler says that while the guidance could materially negatively impact Grand Canyon's revenue guidance for the third quarter, he expects the disruption is likely to be short-lived. Meuler is cautious on the stock in the short-term, but his immediate-term view remains positive.
11/07/19
BMOC
11/07/19
NO CHANGE
Target $116
BMOC
Outperform
Grand Canyon price target lowered to $116 from $126 at BMO Capital
BMO Capital analyst Jeffrey Silber lowered his price target on Grand Canyon to $116, saying that while the company had a "solid" beat on Q3 earnings and raised its FY19 guidance, the management stated on the earnings call that it was notified by the Dept. of Education that it still considers GCU to be a proprietary institution. The analyst notes that the development may not be material to operating results, but increases political risk on the stock.
LEA Lear
$129.43

-0.84 (-0.64%)

10/15/19
GUGG
10/15/19
INITIATION
GUGG
Neutral
Lear initiated with a Neutral at Guggenheim
Guggenheim analyst Ali Faghri started Lear with a Neutral rating.
10/25/19
BARD
10/25/19
DOWNGRADE
Target $155
BARD
Neutral
Lear downgraded to Neutral from Outperform at Baird
Baird analyst David Leiker downgraded Lear to Neutral from Outperform as he believes the near-term fundamentals in E-Systems continue to deteriorate in the face of strong secular trends in the space. He said the operational issues have gotten worse and the timing of the turnarounds is challenging. Leiker maintained his $155 price target on Lear shares.
10/16/19
BUCK
10/16/19
NO CHANGE
Target $105
BUCK
Neutral
Lear price target lowered to $105 from $140 at Buckingham
Buckingham analyst Joseph Amaturo maintained a Neutral rating on Lear (LEA) and lowered his price target to $105 from $140. In a research note to investors, Amaturo says he believes shares have limited upside and are likely to decline commensurate with expected further declines in production, notably in North America and Europe. The analyst believes volume declines will adversely impact margin, and feels near-term results will be adversely impacted by the GM (GM) strike.
10/16/19
GUGG
10/16/19
INITIATION
GUGG
Guggenheim initiates Auto Suppliers with cautious sector view
Guggenheim analyst Ali Faghri initiated coverage last night on the Auto Suppliers with a cautious sector view. The automotive sector is facing increasing cyclical pressures globally, says Faghri, who forecasts flat to negative global industry production volumes through 2021. This creates a challenging operating environment for auto suppliers, the analyst tells investors in a research note. Faghri believes Europe represents the most significant risk to the group's outlook, pointing out that his work suggests "macro headwinds and disruptive emissions regulations will significantly impact vehicle demand in the region over the next few years." The analyst initiated coverage of Aptiv (APTV) and Gentex (GNTX) with Buy ratings. For Aptiv, he sees high single-digit organic growth through 2022 driven by active safety and electric vehicle content gains. For Gentex, the analyst sees upside to 2019 consensus due to stronger gross margins and visibility for continued above market growth. Faghri rounded out his coverage with Neutral ratings on BorgWarner (BWA), Delphi Technologies (DLPH), Lear (LEA), Visteon (VC) and Veoneer (VNE).
OAS Oasis Petroleum
$2.68

-0.295 (-9.93%)

10/15/19
WOLF
10/15/19
DOWNGRADE
Target $3
WOLF
Underperform
Oasis Petroleum downgraded to Underperform from Peer Perform at Wolfe Research
Wolfe Research analyst Josh Silverstein downgraded Oasis Petroleum to Underperform from Peer Perform with a price target of $3, down from $6. The analyst sees limited upside outperformance going forward unless there is a substantial rally in crude oil given the company's $2.5B debt burden and increased capital spend needed to sustain volumes.
08/30/19
LEHM
08/30/19
INITIATION
Target $3.5
LEHM
Equal Weight
Oasis Petroleum initiated with an Equal Weight at Barclays
Barclays analyst William Thompson started Oasis Petroleum with an Equal Weight rating and $3.50 price target. The analyst believes the company is "likely in the penalty box" following the capex raise, infrastructure constraints and well spacing overhang coming out of the Q2 results.
08/26/19
LTCO
08/26/19
DOWNGRADE
Target $5
LTCO
Neutral
Oasis Petroleum downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst Michael Schmitz downgraded Oasis Petroleum to Neutral from Buy and lowered his price target for the shares to $5 from $7. Reduced estimated free cash flow resulting from lower projected commodity prices, combined with uncertainty resulting from the escalation of the trade war, will be additional headwinds for the Exploration and Production group, Schmitz tells investors in a research note.
11/19/19
JRCO
11/19/19
DOWNGRADE
JRCO
Accumulate
Oasis Petroleum downgraded to Accumulate from Buy at Johnson Rice
Johnson Rice downgraded Oasis Petroleum to Accumulate from Buy.
SWN Southwestern Energy
$2.00

-0.12 (-5.66%)

11/01/19
11/01/19
NO CHANGE

Rice University-Jones Graduate School of Business to hold a summit
Rice Energy Finance Summit will be held in Houston on November 1.
09/19/19
WOLF
09/19/19
UPGRADE
WOLF
Peer Perform
Southwestern Energy upgraded to Peer Perform from Underperform at Wolfe Research
Wolfe Research upgraded Southwestern Energy to Peer Perform from Underperform citing potential to achieve a neutral free-cash-flow goal for YE20.
10/11/19
SOCO
10/11/19
UPGRADE
Target $4
SOCO
Equalweight
Southwestern Energy upgraded to Equalweight from Underweight at Capital One
Capital One analyst Brian Velie upgraded Southwestern Energy to Equalweight from Underweight with a $4.00 price target, up from $3.50, after the company's reaffirmation and 1-yr maturity extension for its $2B undrawn credit facility borrowing base along with a doubling of its 2020 natural gas hedge position. The downside protection to natural gas pricing for 2020, coupled with an "uneventful redetermination," improve his outlook, Velie said.
11/19/19
JRCO
11/19/19
DOWNGRADE
JRCO
Hold
Southwestern Energy downgraded to Hold from Accumulate at Johnson Rice
Johnson Rice downgraded Southwestern Energy to Hold from Accumulate.
UNT Unit Corp.
$0.83

-0.0626 (-6.98%)

11/08/19
RAJA
11/08/19
DOWNGRADE
RAJA
Market Perform
Unit Corp. downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Unit Corp. to Market Perform from Outperform.
10/15/19
RAJA
10/15/19
NO CHANGE
Target $37
RAJA
Strong Buy
Raymond James sees 'disappointing' quarter for oil services market
Raymond James analyst Praveen Narra previewed the Oilfield Services space, telling investors in a research note that he expects Q3 to be another disappointing quarter for the oil services market as activity plunged throughout the quarter. The weakness in the quarter was apparent from June, but was exacerbated by September's steep activity decline that was far more pronounced than expected, Narra says, adding that it appears "unlikely" that Q4 will offer a reprieve from pain, and is more likely to accelerate due to E&P budget exhaustion. The analyst expects consensus estimates to decline further through earnings season. He lowered his price target for Cactus, Inc (WHD) to $37 from $40, for Halliburton (HAL) to $32 from $37, for National Oilwell Varco (NOV) to $28 from $34, for Newpark Resources to $10 from $12, for Nine Energy Service (NINE) to $11 from $15, for Patterson-UTI Energy (PTEN) to $12 from $17, for Oil States International (OIS) to $20 from $23, for Unit Corp (UNT) to $8 from $14 and for USA Compression to $20 from $21.
12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Equalweight
Unit Corp. downgraded to Equalweight from Overweight at Capital One
FTR Frontier Communications
$0.68

0.0315 (4.84%)

01/08/19
WELS
01/08/19
DOWNGRADE
Target $1.75
WELS
Underperform
Frontier downgraded to Underperform from Market Perform at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche downgraded Frontier Communications (FTR) to Underperform and lowered her price target for the shares to $1.75 from $5.00. The analyst also downgraded the Rural Local Exchange Carrier sector to Underweight from Market Weight. Frontier has reportedly been working with an advisor on how it might handle upcoming debt maturities, Fritzsche tells investors in a research note. The debt seems to be pricing in a looming restructuring, which "could cause a scar on the RLEC industry," adds the analyst. Fritzsche remains concerned about Frontier's near term balance sheet obligations and believe "this is very much a debt story at this point."
02/19/19
RAJA
02/19/19
DOWNGRADE
RAJA
Market Perform
Frontier Communications downgraded to Market Perform at Raymond James
Raymond James analyst Frank Louthan downgraded Frontier Communications (FTR) to Market Perform from Outperform saying the negative Windstream (WIN) ruling will have a negative impact from a trading perspective. Louthan said rural ILECs tend to trade as a group and are overly correlated with each other regardless of their results.
02/19/19
RAJA
02/19/19
DOWNGRADE
RAJA
Market Perform
Frontier Communications downgraded to Market Perform at Raymond James
06/20/19
SBSH
06/20/19
NO CHANGE
Target $1
SBSH
Sell
Frontier Communications price target lowered to $1.00 from $1.50 at Citi
Citi analyst Michael Rollins lowered his price target for Frontier Communications to $1.00 from $1.50 after incorporating a 25% risk of financial distress into his valuation analysis. While the recent asset sale was a "modest positive," recent press reports regarding informal discussions with bondholders suggests risk of financial distress is rising for Frontier, Rollins tells investors in a research note. Further, the analyst believes the appointment of two new board members who specialize in financial restructurings also increases the risk that Frontier may consider how to proactively restructure its balance sheet. He keeps a Sell rating on the shares.
ARWR Arrowhead
$66.47

-0.91 (-1.35%)

12/08/19
PIPR
12/08/19
NO CHANGE
Target $80
PIPR
Overweight
Arrowhead price target raised to $80 from $72 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff raised his price target for Arrowhead Pharmaceuticals to $80 from $72 and reiterates an Overweight rating on the shares. Arrowhead expects to have three pivotal Phase III trials underway in 2020, and the company has pro forma cash of $554M to advance its wholly-owned TRiM pipeline, Tenthoff tells investors in a research note.
12/11/19
PIPR
12/11/19
NO CHANGE
PIPR
Piper Jaffray reiterates Overweight on Arrowhead after IND filing
Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $80 price target on Arrowhead Pharmaceuticals (ARWR) following the company's submission of an IND for ARO-HIF2, with a Phase Ib dose escalation study in advanced clear cell renal cell carcinoma beginning pending review. The analyst added that Arrowhead also intends to initiate three pivotal Phase III trials in 2020, with the Phase II/III SEQUOIA trial of ARO-AAT to treat alpha-1 antitrypsin deficiency underway, ARO-APOC3 and ARO-ANG3 advancing into two Phase III cardiovascular trials in 2020, and Janssen conducting the Phase IIb REEF-1 combination study with ARO-HBV.
12/12/19
OPCO
12/12/19
INITIATION
OPCO
Perform
Arrowhead initiated with a Perform at Oppenheimer
Oppenheimer analyst Esther Rajavelu initiated coverage of Arrowhead with a Perform rating.
12/12/19
OPCO
12/12/19
INITIATION
OPCO
Perform
Oppenheimer says values Arrowhead shares in $60-$67 range
As reported earlier, Oppenheimer analyst Esther Rajavelu initiated coverage of Arrowhead with a Perform rating, saying she values the shares in a range of $60-$67. Rajavelu said that she believes the company is in the beginning phases of leveraging its platform to diversifty its pipeline and engage in commercial value creation over time. The analyst added that she likes its validated RNAi technology with potential applicability in multiple tissue types, its clinical stage pipeline with optionality to pursue large or orphan indications, and its recently funded balance sheet.
GVA Granite Construction
$26.21

-1.335 (-4.85%)

08/07/19
GSCO
08/07/19
DOWNGRADE
Target $31
GSCO
Neutral
Granite Construction downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Jerry Revich downgraded Granite Construction to Neutral from Buy and lowered his price target for the shares to $31 from $50. The analyst says his May upgrade to Buy was wrong as Granite's project losses continued on the problem projects into Q2. Following $144M of charges for these projects in Q2, the analyst does not see a path to prior cycle margins for its Large Construction business. Granite's Large Construction project issues raise concerns about its earnings power, contends Revich.
08/08/19
08/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Inogen (INGN) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at SVB Leerink. 2. QEP Resources (QEP) downgraded to Market Perform from Strong Buy at Raymond James, while Oasis Petroleum (OAS) was downgraded to Outperform from Strong Buy. 3. REV Group (REVG) downgraded to Sell from Neutral at Goldman Sachs, while Caterpillar (CAT) and Granite Construction (GVA) were downgraded to Neutral from Buy. 4. PlayAGS (AGS) double downgraded to Underperform from Buy at BofA/Merrill, to Hold from Buy at Union Gaming and Deutsche Bank. 5. 3D Systems (DDD) downgraded to Underweight from Neutral at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/28/19
10/28/19
DOWNGRADE
Target $30

Neutral
Granite Construction downgraded to Neutral from Buy at DA Davidson
As previously reported, DA Davidson analyst Brent Thielman downgraded Granite Construction to Neutral from Buy with a price target of $30, down from $45. The analyst notes that his prior positive thesis was rooted in expectation of large heavy civil project losses being confined to a few projects, but says the latest quarter showed an expansion in that trend. Thielman adds that while successful claims processes may result in "significant" upside and ease investor concerns, the lack of near-term clarity and the potential for further writedowns give him pause. The analyst states that he is "less optimistic" about near-term share price appreciation for Granite Construction.
10/28/19
DADA
10/28/19
DOWNGRADE
Target $30
DADA
Neutral
Granite Construction downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Brent Thielman downgraded Granite Construction to Neutral from Buy with a price target of $30, down from $45.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
01/17/20
01/17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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NYSE market internals summary »

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DIS

Disney

$144.95

-0.15 (-0.10%)

12:07
01/17/20
01/17
12:07
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12:07
Periodicals
Disney dropping 'Fox' name from 21st Century Fox assets, Variety reports »

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  • 04

    Feb

TWOU

2U

$22.88

1.09 (5.00%)

12:06
01/17/20
01/17
12:06
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12:06
Periodicals
2U mulls potential sale after activist pressure, Bloomberg reports »

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AAPL

Apple

$315.89

0.56 (0.18%)

12:04
01/17/20
01/17
12:04
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Hot Stocks
Apple announces overall deal with Julia Louis-Dreyfus for TV+ »

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  • 28

    Jan

WMT

Walmart

$115.04

-0.85 (-0.73%)

12:00
01/17/20
01/17
12:00
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12:00
Hot Stocks
Walmart U.S. names Scott McCall incoming Chief Merchandising Officer »

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  • 21

    Jan

UGAZ

VelocityShares 3x Long Natural Gas ETN

$56.81

-5.14 (-8.30%)

12:00
01/17/20
01/17
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Hot Stocks
VelocityShares 3x Long Natural Gas ETN falls -8.2% »

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UNFI

United Natural Foods

$8.52

-0.81 (-8.68%)

12:00
01/17/20
01/17
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Hot Stocks
United Natural Foods falls -8.8% »

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ENZ

Enzo Biochem

$2.71

0.005 (0.18%)

12:00
01/17/20
01/17
12:00
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12:00
Hot Stocks
ISS recommends Enzo Biochem investors vote for Harbert nominee »

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  • 31

    Jan

CDE

Coeur Mining

$5.97

-1.06 (-15.08%)

12:00
01/17/20
01/17
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12:00
Hot Stocks
Coeur Mining falls -15.1% »

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  • 20

    Feb

DGAZ

VelocityShares 3x Inv Natural Gas ETN

$227.88

17.73 (8.44%)

12:00
01/17/20
01/17
12:00
01/17/20
12:00
Hot Stocks
VelocityShares 3x Inv Natural Gas ETN rises 8.6% »

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LXU

LSB Industries

$4.35

0.365 (9.16%)

12:00
01/17/20
01/17
12:00
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12:00
Hot Stocks
LSB Industries rises 9.3% »

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  • 26

    Mar

EROS

Eros International

$4.71

0.62 (15.16%)

12:00
01/17/20
01/17
12:00
01/17/20
12:00
Hot Stocks
Eros International rises 15.0% »

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WMT

Walmart

$115.01

-0.88 (-0.76%)

11:58
01/17/20
01/17
11:58
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11:58
Hot Stocks
Walmart names Meng Chee as incoming Chief Product Officer »

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  • 21

    Jan

GPS

Gap

$18.36

-0.255 (-1.37%)

, CMCSA

Comcast

$47.42

0.56 (1.20%)

11:52
01/17/20
01/17
11:52
01/17/20
11:52
On The Fly
Fly Intel: Wall Street's top stories at midday »

The major averages remain…

GPS

Gap

$18.36

-0.255 (-1.37%)

CMCSA

Comcast

$47.42

0.56 (1.20%)

PLAY

Dave & Buster's

$46.19

4.14 (9.85%)

TWOU

2U

$23.28

1.49 (6.84%)

BE

Bloom Energy

$9.94

0.67 (7.23%)

MGPI

MGP Ingredients

$40.15

-12.75 (-24.10%)

FAST

Fastenal

$37.24

-0.08 (-0.21%)

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  • 17

    Jan

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  • 27

    Feb

BANF

BancFirst

$63.13

-0.14 (-0.22%)

11:49
01/17/20
01/17
11:49
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11:49
Earnings
BancFirst reports Q4 EPS $1.07, consensus $1.04 »

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BT

BT Group

$0.00

(0.00%)

, GOOG

Alphabet

$1,461.36

9.42 (0.65%)

11:42
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01/17
11:42
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11:42
Hot Stocks
BT partners with Google to include Stadia in broadband bundles »

BT Group (BT) said via…

BT

BT Group

$0.00

(0.00%)

GOOG

Alphabet

$1,461.36

9.42 (0.65%)

GOOGL

Alphabet Class A

$1,459.67

9.84 (0.68%)

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  • 22

    Jan

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  • 10

    Feb

PLAY

Dave & Buster's

$46.14

4.085 (9.71%)

11:39
01/17/20
01/17
11:39
01/17/20
11:39
Recommendations
Dave & Buster's analyst commentary  »

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  • 20

    Jan

FB

Facebook

$220.95

-0.83 (-0.37%)

11:37
01/17/20
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11:37
Periodicals
Facebook cuts Oculus Go price to $149 from $199, UploadVR reports »

Facebook said that it has…

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  • 22

    Jan

  • 29

    Jan

WMT

Walmart

$115.15

-0.74 (-0.64%)

11:36
01/17/20
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11:36
01/17/20
11:36
Hot Stocks
Walmart U.S. names Dacona Smith as incoming COO »

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  • 21

    Jan

GOOGL

Alphabet Class A

$1,461.15

11.32 (0.78%)

, GOOG

Alphabet

$1,462.70

10.76 (0.74%)

11:33
01/17/20
01/17
11:33
01/17/20
11:33
Periodicals
Google working to bring Steam support to Chromebooks, Android Police says »

Kan Liu, director of…

GOOGL

Alphabet Class A

$1,461.15

11.32 (0.78%)

GOOG

Alphabet

$1,462.70

10.76 (0.74%)

03/08/13
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  • 22

    Jan

  • 03

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  • 03

    Feb

  • 10

    Feb

WMT

Walmart

$115.30

-0.59 (-0.51%)

11:28
01/17/20
01/17
11:28
01/17/20
11:28
Periodicals
Walmart chief merchant Steve Bratspies to depart, WSJ reports »

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  • 21

    Jan

NFLX

Netflix

$339.15

0.48 (0.14%)

11:25
01/17/20
01/17
11:25
01/17/20
11:25
Hot Stocks
Netflix opens new Paris office, boosts investment in France »

Netflix announced the…

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  • 21

    Jan

11:25
01/17/20
01/17
11:25
01/17/20
11:25
General news
Philly Fed's Harker said the economy is looking "pretty good," »

Philly Fed's Harker…

AMED

Amedisys

$180.60

-0.59 (-0.33%)

11:25
01/17/20
01/17
11:25
01/17/20
11:25
Conference/Events
Amedisys participates in a conference call with Benchmark »

Healthcare Analyst…

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  • 17

    Jan

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