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MIK

Michaels

$6.99

-0.26 (-3.59%)

05:00
01/16/20
01/16
05:00
01/16/20
05:00

Michaels downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Kate McShane downgraded Michaels to Sell from Neutral with a price target of $6.50, down from $7.00. Following the 30% gain post the announcement of management changes, Michaels' valuation is extended and does not embed possible headwinds in the business ahead, McShane tells investors in a research note. The analyst sees headwinds coming from the company's major competitor A.C. Moore liquidating inventory, creating near-term margin pressure, competitive challenges from specialty retailers in the Arts & Craft space, and integration risk from the acquisition of up to 40 A.C. Moore stores.

MIK Michaels
$6.99

-0.26 (-3.59%)

12/27/19
SPHN
12/27/19
NO CHANGE
SPHN
Stephens prefers waiting on sidelines amid Michaels CEO, CFO changes
Stephens analyst Rick Nelson maintained an Equal Weight rating and $7 price target on Michaels Companies after the company announced the appointment of Walmart (WMT) executive Ashley Buchanan as CEO and the departure of its CFO for another company. While Nelson sees Michaels as an eventual winner due to its "dominant market position, brand awareness, and strong balance sheet," the analyst said he preferred to wait on the sidelines near term, as "store closings, liquidation sales, and new strategies are likely to produce choppy results."
12/27/19
TLSY
12/27/19
NO CHANGE
Target $7
TLSY
Market Perform
Telsey Advisory keeps Market Perform rating on Michaels after CEO change
Telsey Advisory analyst Cristina Fernandez said the announcement of a new CEO at Michaels only two months after Mark Cosby was named permanent CEO is "unexpected," as is the departure of Denise Paulonis as CFO. However, Michaels get someone with merchandising, e-commerce, and operating experience by adding Ashley Buchanan, added Fernandez. The analyst, who thinks Michaels "remains a work-in-progress," maintains a Market Perform rating and $7 price target on the stock.
12/31/19
MSCO
12/31/19
NO CHANGE
Target $5
MSCO
Underweight
Michaels CEO news positive, but fundamental concerns remain, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman said he thinks highly of Michaels' incoming CEO Ashley Buchanan and views the hiring as a positive, but his fundamental concerns that the company is a mature retailer operating with high margins despite struggling to grow sales are unchanged. Michaels has been clarifying its strategy, but has been unable to execute, meaning a deeper investment phase may be necessary to make progress and compete effectively, said Gutman, who maintains an Underweight rating and $5 price target on the shares.
01/07/20
BOFA
01/07/20
NO CHANGE
Target $85
BOFA
Buy
Aaron's, Lowe's positioned for outperformance in 2020, says BofA
In a research note on retailers, BofA analyst Elizabeth Suzuki said she thinks the stocks that are best positioned for outperformance in 2020 are Aaron's (AAN), Advance Auto Parts (AAP), Bed Bath & Beyond (BBBY), Lowe's (LOW) and Tempur Sealy (TPX). Conversely, the analyst thinks several hardline retail stocks are poised to underperform in 2020, including Floor & Decor (FND), GameStop (GME), Michael's (MIK) and Sleep Number (SNBR). The firm's proprietary RENO barometer suggests that renovation spending may sequentially improve through 1H before tapering off in 2H. While she nots that essentially every company in her coverage universe stands to gain from a trade war resolution, the biggest beneficiaries would likely be Michael's, Floor & Decor, Best Buy (BBY), RH (RH) and Williams-Sonoma (WSM). Suzuki raised her price target for Aaron's to $85 from $80.

TODAY'S FREE FLY STORIES

AMRC

Ameresco

$19.78

-0.1 (-0.50%)

04:55
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HRB

H&R Block

$24.48

-0.48 (-1.92%)

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MSM

MSC Industrial

$76.89

-1.58 (-2.01%)

04:55
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FB

Facebook

$222.01

0.23 (0.10%)

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  • 22

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SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

, SPX

S&P 500

$0.00

(0.00%)

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SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SPX

S&P 500

$0.00

(0.00%)

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TSLA

Tesla

$510.34

-3.065 (-0.60%)

16:33
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16:33
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Tesla closer to opening first European factory with property deal, Reuters says »

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  • 29

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JPM

JPMorgan

$138.15

0.89 (0.65%)

, BNPQY

BNP Paribas

$0.00

(0.00%)

16:28
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JPMorgan to acquire former BNP building in Paris, Bloomberg reports »

JPMorgan (JPM) is buying…

JPM

JPMorgan

$138.15

0.89 (0.65%)

BNPQY

BNP Paribas

$0.00

(0.00%)

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  • 05

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BAC

Bank of America

$34.70

-0.03 (-0.09%)

16:25
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  • 26

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    Apr

CEL

Cellcom Israel

$3.18

(0.00%)

16:16
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Cellcom Israel announces CTO resignation »

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VRCA

Verrica Pharmaceuticals

$15.94

0.21 (1.34%)

16:12
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  • 13

    Jul

SO

Southern Company

$67.25

1.08 (1.63%)

, XEL

Xcel Energy

$65.38

0.34 (0.52%)

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SO

Southern Company

$67.25

1.08 (1.63%)

XEL

Xcel Energy

$65.38

0.34 (0.52%)

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  • 30

    Jan

LIZI

Lizhi

$11.72

(0.00%)

, DNK

Phoenix Tree

$13.50

(0.00%)

09:10
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Opening Day: China's Lizhi, Phoenix Tree flat in trading debut »

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LIZI

Lizhi

$11.72

(0.00%)

DNK

Phoenix Tree

$13.50

(0.00%)

VEL

Velocity Financial

$13.58

(0.00%)

IMAB

I-MAB

$12.90

(0.00%)

BSBK

Bogota Financial

$11.70

0.195 (1.70%)

CSPR

Casper Sleep

$0.00

(0.00%)

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TLGT

Teligent

$0.40

-0.0025 (-0.62%)

15:53
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Teligent to hold a special shareholder meeting »

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  • 24

    Jan

AYTU

Aytu BioScience

$0.80

0.0014 (0.18%)

15:48
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  • 24

    Jan

DVA

DaVita

$79.45

0.43 (0.54%)

15:32
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  • 23

    Jan

TSM

TSMC

$58.58

-0.18 (-0.31%)

09:16
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KKR

KKR

$31.20

0.7 (2.30%)

, APO

Apollo Global

$50.35

1.26 (2.57%)

09:03
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KKR

KKR

$31.20

0.7 (2.30%)

APO

Apollo Global

$50.35

1.26 (2.57%)

ARES

Ares Management

$37.29

0.47 (1.28%)

BX

Blackstone

$60.79

0.62 (1.03%)

CG

Carlyle Group

$33.30

0.36 (1.09%)

HLNE

Hamilton Lane

$67.25

-0.02 (-0.03%)

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  • 30

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SPCE

Virgin Galactic

$15.65

0.685 (4.58%)

, TWNK

Hostess Brands

$14.03

0.02 (0.14%)

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SPCE

Virgin Galactic

$15.65

0.685 (4.58%)

TWNK

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$14.03

0.02 (0.14%)

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  • 25

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, NFLX

Netflix

$339.56

0.89 (0.26%)

08:47
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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

NFLX

Netflix

$339.56

0.89 (0.26%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

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  • 21

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

, WMT

Walmart

$114.93

-0.96 (-0.83%)

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Casper IPO highlights tech's promise, troubles, Barron' says »

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

WMT

Walmart

$114.93

-0.96 (-0.83%)

CSPR

Casper Sleep

$0.00

(0.00%)

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  • 21

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BA

Boeing

$324.11

-7.89 (-2.38%)

, DDAIF

Daimler AG

$0.00

(0.00%)

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BA

Boeing

$324.11

-7.89 (-2.38%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$13.76

-0.14 (-1.01%)

VWAGY

Volkswagen

$0.00

(0.00%)

FSLR

First Solar

$53.51

-0.42 (-0.78%)

AAPL

Apple

$318.66

3.33 (1.06%)

DQ

Daqo New Energy

$53.61

-0.025 (-0.05%)

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  • 28

    Jan

  • 29

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SPOT

Spotify

$148.20

-3.59 (-2.37%)

18:15
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Spotify in talks to acquire The Ringer, WSJ reports »

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  • 05

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