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DBX

Dropbox

$17.93

-0.42 (-2.29%)

, SIX

Six Flags

$36.04

-7.72 (-17.64%)

10:30
01/10/20
01/10
10:30
01/10/20
10:30

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dropbox (DBX) downgraded to Hold from Buy at Jefferies with analyst Brent Thill saying the stock's current multiple already prices in 15%-20% growth and up to 200 basis point of margin expansion. 2. Six Flags (SIX) downgraded to Equal Weight from Overweight at Wells Fargo, to Neutral from Buy at Janney Montgomery Scott, and to Underweight from Equal Weight at Wells Fargo. 3. Dolby (DLB) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying with the shares only 5% away from his price target, the analyst feels both his fiscal 2020 estimates and target multiple are at the higher-end of Dolby's potential ranges over the next 12 months. 4. Foot Locker (FL) downgraded to Neutral from Positive at Susquehanna with analyst Sam Poser saying channel checks indicate that holiday launches from Nike (NKE), Adidas (ADDYY), and others were not enough to overcome last year's difficult comparisons. 5. CME Group (CME) downgraded to Market Perform from Outperform at Bernstein. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

DBX

Dropbox

$17.93

-0.42 (-2.29%)

SIX

Six Flags

$36.04

-7.72 (-17.64%)

DLB

Dolby

$68.06

-1.38 (-1.99%)

FL

Foot Locker

$38.74

0.28 (0.73%)

CME

CME Group

$208.22

-0.26 (-0.12%)

  • 04

    Feb

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    Feb

  • 24

    Feb

  • 28

    Feb

DBX Dropbox
$17.93

-0.42 (-2.29%)

01/09/20
JEFF
01/09/20
DOWNGRADE
Target $19
JEFF
Hold
Dropbox downgraded to Hold on lack of catalysts at Jefferies
Jefferies analyst Brent Thill downgraded Dropbox to Hold from Buy with a price target of $19, down from $29. The stock's current multiple already prices in 15%-20% growth and up to 200 basis point of margin expansion, Thill tells investors in a research note. The analyst cites a lack of catalysts for the downgrade to Hold.
01/09/20
JEFF
01/09/20
DOWNGRADE
Target $19
JEFF
Hold
Dropbox downgraded to Hold from Buy at Jefferies
Jefferies analyst Brent Thill downgraded Dropbox to Hold from Buy with a $19 price target.
01/09/20
BOFA
01/09/20
NO CHANGE
BOFA
Amazaon, Wix.com, & SVB Financial added to US 1 List at BofA
BofA added Amazon.com (AMZN), Wix.com (WIX), and SVB Financial (SIVB) to the US 1 List and removed Synovus (SNV), Dropbox (DBX), and IHS Markit (INFO).
12/19/19
GDHS
12/19/19
NO CHANGE
GDHS
Dropbox up 8%, Gordon Haskett says could draw 'special situation interest'
Don Bilson, who heads Gordon Haskett's event-driven research, noted earlier that Dropbox (DBX) shares have been trading almost $4 below the company's 2018 IPO price recently he thinks "it could draw some special sit interest, much like we have seen at Box and Cloudera." Dropbox is growing faster than those two companies and also sports better margins, but still only trades for around 3.5x forward sales, noted Bilson. "There may be a few other busted tech-y IPOs that can tell similar stories as DBX but this is the one that was making new lows last week and the one that we've taken an interest," Bilson stated earlier in his note to investors. In morning trading, Dropbox shares are up $1.32, or 7.7%, to $18.52.
SIX Six Flags
$36.04

-7.72 (-17.64%)

01/10/20
WELS
01/10/20
DOWNGRADE
Target $38
WELS
Underweight
Six Flags downgraded for second time today at Wells Fargo
Wells Fargo analyst Timothy Conder downgraded Six Flags Entertainment to Underweight from Equal Weight with a price target of $38, down from $42. The analyst earlier today downgraded the shares to Equal Weight from Overweight. Conder says Six Flags's preannouncement this morning of "disappointing" Q4 pass and membership trends add to his previous China concerns. The analyst, who again reduced his estimates for the company, sees no near-term upside catalyst and believes investors likely will not give Six Flags any near-term credit until clarity on domestic demand emerges. The stock in morning trading is down 18%, or $7.76, to $36.00.
01/10/20
WEDB
01/10/20
NO CHANGE
Target $34
WEDB
Neutral
Six Flags price target lowered to $34 from $44 at Wedbush
Wedbush analyst James Hardiman lowered his price target on Six Flags shares to $34 from $44 after the company announced in an 8K that Riverside, the company's exclusive development partner in the China, defaulted on its payment obligations. What he finds most significant is that Six Flags admitted that outcomes "could range from the continuation of one or more projects to the termination of all the Six Flags-branded projects in China," said Hardiman, who added that he doesn't see how the company's current dividend makes sense if revenues from Chinese developments go to, and stay at, zero. He keeps a Neutral rating on Six Flags shares, which are down $7.56, or 17%, to $36.20 in morning trading.
01/10/20
WELS
01/10/20
DOWNGRADE
WELS
Underweight
Six Flags downgraded to Underweight from Equal Weight at Wells Fargo
Wells Fargo analyst Timothy Conder downgraded Six Flags to Underweight from Equal Weight. This is his second downgrade of the stock this morning, as he had previously cut Six Flags Entertainment to Equal Weight from Overweight.
01/10/20
JANY
01/10/20
DOWNGRADE
Target $38
JANY
Neutral
Janney downgrades Six Flags to Neutral on issues with core, uncertainty in China
Janney Montgomery Scott analyst Tyler Batory downgraded Six Flags to Neutral from Buy as he reads its disappointing Q4 attendance and softer than expected season pass sales as "clear indicators" that trends in the core business keep deteriorating. Additionally, its China partners' default creates uncertainty about whether the parks there will ever open, making it hard to defend the stock, he said, adding that he believes the dividend could be at risk. His revised fair value estimate for Six Flags shares is $38.
DLB Dolby
$68.06

-1.38 (-1.99%)

01/10/20
RILY
01/10/20
DOWNGRADE
Target $73
RILY
Neutral
Dolby downgraded to Neutral from Buy on valuation at B. Riley FBR
B. Riley FBR analyst Eric Wold downgraded Dolby Laboratories (DLB) to Neutral from Buy with an unchanged price target of $73. With the shares only 5% away from his price target, the analyst feels both his fiscal 2020 estimates and target multiple are at the higher-end of Dolby's potential ranges over the next 12 months. Despite the downgrade, Wold remains positive on the company's longer-term licensing penetration opportunity. The analyst recommends adding to positions in Buy-rated Brunswick (BC), InterDigita (IDCC), TiVo (TIVO) and Xperi (XPER).
01/10/20
RILY
01/10/20
DOWNGRADE
Target $73
RILY
Neutral
Dolby downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Eric Wold downgraded Dolby to Neutral from Buy with an unchanged price target of $73.
12/09/19
DOTC
12/09/19
NO CHANGE
DOTC
Buy
Dolby shares not reflecting dominant market position, says Dougherty
Dougherty analyst Steven Frankel says Dolby remains positioned to deliver high-single digit growth, "strong" cash flow and "impressive" operating margins. With high operating margins, little competition and consistent cash flow, Dolby "remains one of the best business models we have ever encountered," Frankel tells investors in a research note. The stock at current levels fails to reflect the company's dominant market position, cash generation capabilities and potential to return to double-digit revenue growth, adds the analyst. Frankel, who believes Dolby's network of device and content partners continue to expand their use of the company's technologies, reiterates a Buy rating on the shares with a $75 price target. Qualcomm's (QCOM) just introduced Snapdragon865 mobile processor becomes the first smartphone platform capable of capturing video in Dolby Vision, notes the analyst.
01/07/20
BRRR
01/07/20
NO CHANGE
BRRR
Adtalem, Tivity, Virtusa among Barrington's Best Ideas for 2020
Barrington announced its Best Ideas List for 2020. The names are Adtalem Global Education (ATGE), Barrett Business Services (BBSI), Carriage Services (CSV), CRA International (CRAI), Columbus McKinnon (CMCO), Dolby (DLB), KAR Auction (KAR), Laureate Education (LAUR), Nexstar Media Group (NXST), SP Plus (SP), Tivity Health (TVTY) and Virtusa (VRTU).
FL Foot Locker
$38.74

0.28 (0.73%)

01/10/20
SUSQ
01/10/20
DOWNGRADE
SUSQ
Neutral
Foot Locker downgraded to Neutral from Positive at Susquehanna
Susquehanna analyst Sam Poser downgraded Foot Locker to Neutral from Positive.
01/10/20
SUSQ
01/10/20
DOWNGRADE
Target $41
SUSQ
Neutral
Susquehanna downgrades Foot Locker after holiday checks fall short
Susquehanna analyst Sam Poser downgraded Foot Locker (FL) to Neutral from Positive with a price target of $41, down from $47. Channel checks indicate that holiday launches from Nike (NKE), Adidas (ADDYY), and others were not enough to overcome last year's difficult comparisons, Poser tells investors in a research note. The analyst believes Foot Locker will miss its relatively flat Q4 same-store-sales guidance, but achieve the low end of its low-single-digit fiscal 2019 guidance. Further, any fiscal 2020 guidance in-line or higher than current consensus estimates "will most likely prove too aggressive," contends the analyst. Poser says that despite a "compelling" valuation, less effective engagement and communication is driving lackluster results at Foot Locker. Execution and communication issues may prevent the company from achieving its five-year plan, the analyst contends.
01/03/20
ARGS
01/03/20
NO CHANGE
ARGS
Hold
Near-term sales growth at Foot Locker challenging, says Argus
Argus analyst John Staszak keeps his Hold rating on Foot Locker, stating that while the stock has underperformed the market and the industry over recent periods, its near-term sales growth looks "challenging". The analyst points to the company's Q3 revenue miss reported in November and a cut in the management's comps forecast for FY20 to low-single-digit from mid-single digit growth. Staszak adds that Foot Locker will have to allocate more investment to digital advertising which, combined with higher freight and labor costs, should weigh on margins. The analyst states that he would consider an upgrade if shares fall to the $35 support level.
12/23/19
STPT
12/23/19
UPGRADE
STPT
Buy
Foot Locker upgraded to Buy from Hold at Standpoint Research
Standpoint Research analyst Ronnie Moas upgraded Foot Locker to Buy from Hold.
CME CME Group
$208.22

-0.26 (-0.12%)

12/16/19
FBCO
12/16/19
INITIATION
FBCO
Neutral
CME Group initiated with a Neutral at Credit Suisse
Credit Suisse analyst Ari Ghosh initiated coverage of CME Group with a Neutral rating as part of his broader research note on the U.S. Exchanges sector. In a research note to investors, Ghosh says he believes the exchange industry is positioned for long-term growth driven by secular tailwinds benefiting its transactional, data, and technology businesses. While the group is trading at a 9% premium to its 7-year average relative to S&P 500, Ghosh says he expects accelerating volume growth, solid data demand, operating margin expansion and investor preference for counter-cyclicals to drive stock prices and support valuation levels in 2020.
01/10/20
BERN
01/10/20
DOWNGRADE
BERN
Market Perform
CME Group downgraded to Market Perform from Outperform at Bernstein
Bernstein downgraded CME Group to Market Perform from Outperform.
01/10/20
JEFF
01/10/20
NO CHANGE
JEFF
Buy
Jefferies calls CME, IntercontinentalExchange favorite ideas in Exchanges
Jefferies analyst Daniel Fannon lowered his EPS estimates for the Brokers, Asset Managers and Exchanges group by 2% on average heading into Q4 earnings, stating that volumes were "generally subdued" and this lead to downward revisions for nearly all volume-driven products. Overall fundamentals remain generally positive and year-over-year comparisons improve in the first half, said Fannon, who names CME Group (CME) and IntercontinentalExchange (ICE) as his favorite ideas among the Exchanges. He lowered his price target on CME shares to $236 from $242 and raised his price target on IntercontinentalExchange to $109 from $108 while keeping Buy ratings on both stocks. He also raised his price target on CBOE (CBOE) shares to $115 from $112, raised his target for MarketAxess (MKTX) to $360 from $342 and bumped up his Nasdaq (NDAQ) target to $101 from $100, though he keeps Hold ratings on those three stocks.
12/06/19
JPMS
12/06/19
NO CHANGE
Target $173
JPMS
Underweight
CME Group price target lowered to $173 from $183 at JPMorgan
JPMorgan analyst Kenneth Worthington lowered his price target for CME Group to $173 from $183 and maintains an Underweight rating on the shares. The analyst sees the potential for the stock to continue underperforming in 2020. The core risk is a weaker trading volume outlook, says Worthington, who cites the ongoing decline in futures open interest coupled with a "meaningful deceleration" in options open interest.

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AMRC

Ameresco

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