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TSLA

Tesla

$518.26

-19.64 (-3.65%)

, MS

Morgan Stanley

$52.94

0.09 (0.17%)

08:58
01/16/20
01/16
08:58
01/16/20
08:58

Fly Intel: Pre-market Movers

HIGHER: XPO Logistics (XPO), up 19% after announcing plans to explore its strategic alternatives, including the possible sale or spin-off of one or more of XPO's business units... Signet Jewelers (SIG), up 26% after raising its Q4 and FY20 outlook... Luckin Coffee (LK), up 3% after KeyBanc analyst Eric Gonzalez raised his price target for the stock to $56 from $32 based on "strong" core business momentum and the addition of new revenue streams into his valuation methodology. UP AFTER EARNINGS: Morgan Stanley (MS), up 5%... WNS Holdings (WNS), up 3%. DOWN AFTER EARNINGS: BNY Mellon (BK), down 5%... PPG (PPG), down 4%... Alcoa (AA), down 2%. ALSO LOWER: Tesla (TSLA), down 4% after Morgan Stanley analyst Adam Jonas downgraded shares to Underweight from Equal Weight with a price target of $360, up from $250... Qudian (QD), down 19% after withdrawing FY19 guidance and announcing $500M share repurchase plan... Michaels (MIK), down 5% after Goldman Sachs analyst Kate McShane downgraded the stock to Sell from Neutral with a price target of $6.50, down from $7.00.

TSLA

Tesla

$518.26

-19.64 (-3.65%)

MS

Morgan Stanley

$52.94

0.09 (0.17%)

XPO

XPO Logistics

$82.92

1.34 (1.64%)

SIG

Signet Jewelers

$21.48

0.48 (2.29%)

LK

Luckin Coffee

$45.22

-0.5 (-1.09%)

WNS

WNS Holdings

$68.81

1.29 (1.91%)

BK

BNY Mellon

$50.68

-0.32 (-0.63%)

PPG

PPG

$130.72

0.805 (0.62%)

AA

Alcoa

$20.17

-0.19 (-0.93%)

QD

Qudian

$4.39

-0.19 (-4.15%)

MIK

Michaels

$6.99

-0.26 (-3.59%)

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TSLA Tesla
$518.26

-19.64 (-3.65%)

01/14/20
JEFF
01/14/20
NO CHANGE
Target $600
JEFF
Buy
Jefferies boosts Tesla target to $600 from $400, says don't sell on valuation
Jefferies analyst Philippe Houchois raised his price target for Tesla to $600 from $400 and keeps a Buy rating on the shares. The stock closed Monday up $46.71, or 10%, to $524.86. It would be wrong to exit Tesla on valuation, Houchois tells investors in a research note. Tesla is the only car manufacturer engaged in a "positive-sum game" in electric vehicles amid rising market acceptance, and its auto business should turn profitable this year excluding tax credits, contends the analyst. Further, Houchois believes the company's "balance sheet de-risking makes old and new growth opportunities viable, from battery tech to stationary and autonomy." The analyst, who boosted his price target after incorporating the company's non-auto valuation drivers, also thinks consensus estimates for 2020 look "reasonable and conservative."
01/14/20
DBAB
01/14/20
NO CHANGE
Target $455
DBAB
Hold
Deutsche raises Tesla target to $455 from $290 despite sentiment concerns
Deutsche Bank analyst Emmanuel Rosner raised his price target for Tesla to $455 from $290 while keeping a Hold rating on the shares. Tesla "truly seems to be currently firing on all cylinders," with the recent start of China production, a large step-up in regulatory credit revenue from January 2020 thanks to the deal with FCA, start of production of Model Y in the near-term and the building of a factory in Europe, Rosner tells investors in a research note. The analyst raised his earnings trajectory for Tesla through 2025 as a result. However, with the stock hovering around all-time highs, Rosner worries investor sentiment has "gotten bullish too fast, ignoring some of the nearer-term execution risks." This is especially the case in China, where it is difficult to gauge in the near-term due to a recent slump in new energy vehicles sales, contends the analyst.
01/16/20
MSCO
01/16/20
DOWNGRADE
Target $360
MSCO
Underweight
Morgan Stanley downgrades Tesla to Underweight on valuation after 105% rally
Morgan Stanley analyst Adam Jonas downgraded Tesla to Underweight from Equal Weight with a price target of $360, up from $250. The stock closed Wednesday down $19.42 to $518.50. The analyst sees an unfavorable risk/reward at current valuation levels following the stock's recent rally. Further, he believes risks to Tesla's long-term Chinese business may not be fully appreciated by the market. Four factors have driven Tesla's share price up 105% over the last four months, namely stronger than expected global demand for its vehicles, China announcements that show the company's expansion into the world's largest electric vehicle market, supportive incentive developments and positive sentiment around its product expansion, Jonas tells investors in a research note. The analyst, while admitting near-term momentum and sentiment around the stock is very strong, questions the "sustainability of the momentum." Jonas increased his expectations for Tesla's core auto business while decreasing his expectations for the mobility business, resulting in the price target raise to $360.
01/16/20
MSCO
01/16/20
DOWNGRADE
Target $360
MSCO
Underweight
Tesla downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Adam Jonas downgraded Tesla to Underweight from Equal Weight with a price target of $360, up from $250.
MS Morgan Stanley
$52.94

0.09 (0.17%)

01/09/20
DADA
01/09/20
INITIATION
DADA
Buy
Morgan Stanley initiated with a Buy at DA Davidson
DA Davidson analyst David Konrad initiated coverage of Morgan Stanley with a Buy rating. Konrad tells investors in a research note that Morgan Stanley is his top idea given attractive business mix, improving returns and potential to unlock trapped capital. In his view, the key to Morgan's success story has been the improved returns in FICC and the meaningful margin expansion in Wealth Management, and says Wealth Management is a driver to a unique business mix. he expects Wealth Management and Investment Management to combine for 53% of total revenues in 2021.
01/13/20
JMPS
01/13/20
DOWNGRADE
JMPS
Market Perform
Morgan Stanley, KKR, Apollo cut to Market Perform at JMP Securities
JMP Securities analyst Devin Ryan downgraded Morgan Stanley (MS), KKR (KKR), and Apollo Global (APO) to Market Perform from Outperform while upgrading Goldman Sachs (GS) to Outperform from Market Perform with a price target of $290 as part of a broader research note on investment banks and brokers. The analyst states that the investment tone heading into 2020 is "quite a bit better" than entering 2019, but also sees the bar as having been set higher and macro obstacles, including the presidential elections, as more prevalent. Ryan notes that his reset expectations reflect more company-specific changes or for dislocated valuation, since the current market "base scenario" in the sector is a positive one.
01/13/20
JMPS
01/13/20
DOWNGRADE
JMPS
Market Perform
Morgan Stanley downgraded to Market Perform from Outperform at JMP Securities
JMP Securities analyst Devin Ryan downgraded Morgan Stanley to Market Perform from Outperform.
01/09/20
BUCK
01/09/20
NO CHANGE
Target $40
BUCK
Buy
Buckingham says buy brokerage stocks over banks in 2020
Buckingham analyst James Mitchell told investors in a research note that he would emphasize the brokerage stocks over the banks this year, as not only are they less expensive, but that expectations around growth embedded in consensus are quiet modest. The analyst upgraded Goldman Sachs (GS) and downgraded Northern Trust (NTRS), and said Citi (C) remains a top pick for the second year in a row. He also emphasized Morgan Stanley (MS) and Regions Financial (RF) as the cheapest brokers relative to historical multiples in his coverage universe. The analyst raised his price target for Bank of America (BAC) to $40 from $35, for BNY Mellon (BK) to $56 from $50, for Citi to $100 from $86, for JPMorgan (JPM) to $140 from $122, for Morgan Stanley to $65 from $55, for State Street (STT) to $95 from $84, for Regions Financial to $110 from $108 and for Wells Fargo to $55 from $47.
XPO XPO Logistics
$82.92

1.34 (1.64%)

01/16/20
SBSH
01/16/20
NO CHANGE
Target $100
SBSH
Buy
XPO potential breakup has value, but process just started, says Citi
Citi analyst Christian Wetherbee sees value in the potential breakup of XPO Logistics, but he notes the process announced last night in a press release has just started. There is "sizeable" potential value from divestitures, particularly assuming control premiums, but the announcement coming before any discussions with potential buyers have been had is surprising, Wetherbee tells investors in a research note. The early stage nature of the announcement likely means a "healthy discount" to the breakup value will persist until incremental information on the process is made available, adds the analyst. However, Wetherbee expects shares to be up materially on the news, saying even a 25%-50% probability of success could provide a 20%-40% boost to shares. He keeps a Buy rating on XPO Logistics with a $100 price target.
01/16/20
JEFF
01/16/20
NO CHANGE
Target $112
JEFF
Buy
XPO strategic review could unlock up to $60 of share value, says Jefferies
XPO Logistics said last night it will explore strategic alternatives, including the possible sale or spin-off of a number of businesses, as the shares continue to trade below their sum-of-the-parts fair value, Jefferies analyst David Kerstens tells investors in a research note. The analyst thinks the businesses under review represent greater than 40% of revenue, including European transport and North American freight brokerage. The strategic review could unlock additional value in the range of $30-$60 per share, according to Kerstens. The analyst increased his price target for XPO Logistics to $112 from $98 and keeps a Buy rating on the shares. The stock in premarket trading is up 19%, or $15.74, to $98.56.
01/10/20
OPCO
01/10/20
NO CHANGE
Target $90
OPCO
Outperform
Oppenheimer constructive on XPO Logistics in 2020 ahead of guidance
Oppenheimer analyst Scott Schneeberger reiterated his Outperform rating and $90 price target on XPO Logistics, stating that he anticipates the company will initiate 2020 adjusted EBITDA guidance that will encompass his estimate of $1.775B-$1.79B. While this view represents year-over-year growth acceleration, he also believes it may ultimately prove conservative should XPO effectively leverage new business wins, Schneeberger added.
01/16/20
MSCO
01/16/20
NO CHANGE
Target $81
MSCO
Equal Weight
Morgan Stanley says strategic logic for XPO break-up hard to understand
Morgan Stanley analyst Ravi Shanker said the mathematical logic for XPO Logistics exploring strategic alternatives "seems clear," but he believes the "strategic logic is a bit harder to understand" given the wide range of outcomes, potential that XPO could be stuck with businesses that the market may view to be "damaged" or unsellable, and a lack of clarity on the dis-synergies of scale that might exist. If XPO manages to divest all its non-core businesses, it could end up being the industry's second-best less-than-truckload shipper with an excellent balance sheet, said Shanker. However, he asks, "is a +30% base case upside enough for a potential outcome that breaks up the company and ends XPO as we know it?" He keeps an Equal Weight rating and $81 price target on XPO shares, which are up $16.00, or 19.3%, to $98.80 in pre-market trading.
SIG Signet Jewelers
$21.48

0.48 (2.29%)

09/06/19
SBSH
09/06/19
NO CHANGE
Target $12
SBSH
Sell
Signet Jewelers price target lowered to $12 from $17 at Citi
Citi analyst Paul Lejuez lowered his price target for Signet Jewelers to $12 from $17 and keeps a Sell rating on the shares. While the company's Q2 was better than expected and it was also able to refinance its debt, pushing out its maturities, Signet still faces a "very challenging" retail environment, Lejuez tells investors in a research note. The analyst says he saw little this quarter to give him confidence that the company has "found the right formula to drive profitable sales." He's we are concerned about how Signet will perform in the "all-important" Q4 and believes the risk is to the downside.
01/02/20
WELS
01/02/20
DOWNGRADE
Target $12
WELS
Underweight
Signet Jewelers downgraded to Underweight from Equal Weight at Wells Fargo
Wells Fargo analyst Ike Boruchow downgraded Signet Jewelers to Underweight from Equal Weight with a price target of $12, down from $16, as part of a broader research note on retailers and specialty softlines. The analyst says the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, adding that Signet's core business continues to struggle, with credit remaining an overhang.
01/02/20
WELS
01/02/20
DOWNGRADE
Target $12
WELS
Underweight
Signet Jewelers downgraded to Underweight from Equal Weight at Wells Fargo
Wells Fargo analyst Ike Boruchow downgraded Signet Jewelers to Underweight from Equal Weight with a $12 price target.
01/02/20
01/02/20
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ford (F) downgraded to Underperform from In Line at Evercore ISI with analyst Chris McNally saying that in 2020, the "weak will likely get weaker" in 2020 and the strong OEMs/suppliers may start to dominate. 2. Upwork (UPWK) downgraded to Neutral from Buy at Citi with analyst Hao Yan citing the stock coming under pressure since the company's Q3 results amid a weaker growth outlook and believes that a Neutral rating with a "high risk" classification is warranted because of the sector re-rating, recent CEO departure, regulatory overhand, and decelerating Gross Services Volume. 3. Signet Jewelers (SIG) downgraded to Underweight from Equal Weight at Wells Fargo with analyst Ike Boruchow saying the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, adding that Signet's core business continues to struggle, with credit remaining an overhang. 4. Intercept (ICPT) downgraded to Neutral from Buy at Citi with analyst Joel Beatty saying the 95% run-up in the stock since September and contends that its NASH launch has been "appropriately priced in." 5. Hanesbrands (HBI) downgraded to Underweight from Equal Weight at Wells Fargo with analyst Ike Boruchow saying the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, and says core weakness is persisting at Hanesbrands, with Champion decelerating. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LK Luckin Coffee
$45.22

-0.5 (-1.09%)

06/12/19
CICC
06/12/19
INITIATION
Target $22.3
CICC
Buy
Luckin Coffee initiated with a Buy at CICC
CICC started Luckin Coffee with a Buy rating and $22.30 price target.
01/16/20
KEYB
01/16/20
NO CHANGE
Target $56
KEYB
Overweight
Luckin Coffee price target raised to $56 from $32 at KeyBanc
KeyBanc analyst Eric Gonzalez raised his price target for Luckin Coffee to $56 from $32 based on "strong" core business momentum and the addition of new revenue streams into his valuation methodology. Despite the stock's upward momentum, the analyst believes the profit potential of these channels implies little to no multiple expansion has occurred since the Unmanned Retail Strategy was first announced and the stock remains inexpensive relative to its growth potential and to category leading global peers. He has an Overweight rating on the shares.
11/22/19
KEYB
11/22/19
NO CHANGE
Target $32
KEYB
Overweight
Luckin Coffee price target raised to $32 from $24 at KeyBanc
KeyBanc analyst Eric Gonzalez raised his price target for Luckin Coffee to $32 from $24 following investor meetings with Luckin Coffee CFO Reinout Schakel. In a research note to investors, Gonzalez says he believes Luckin's execution continues to prove out its business model, targeting high affordability, convenience, and quality and feels ongoing momentum and the stock's relatively low valuation suggest further upside over the next year. He keeps an Overweight rating on the shares.
11/29/19
MSCO
11/29/19
NO CHANGE
Target $27
MSCO
Equal Weight
Luckin Coffee price target raised to $27 from $21 at Morgan Stanley
Morgan Stanley analyst Lillian Lou raised her price target for Luckin Coffee to $27 from $21 while keeping an Equal Weight rating on the shares.
WNS WNS Holdings
$68.81

1.29 (1.91%)

07/19/19
BRRR
07/19/19
NO CHANGE
Target $72
BRRR
Outperform
WNS Holdings price target raised to $72 from $68 at Barrington
Barrington analyst Vincent Colicchio raised his price target for WNS Holdings to $72 from $68 saying broad demand drove "solid" growth the company's fiscal Q1 results. WNS's sales pipeline grew "rapidly" year-over-year, was broad based across multiple geographies, verticals and service lines and included several large transformation deals, Colicchio tells investors in a post-earnings research note. He reiterates an Outperform rating on the shares.
09/13/19
BREN
09/13/19
INITIATION
Target $72
BREN
Buy
WNS Holdings initiated with a Buy at Berenberg
Berenberg analyst Sam England initiated WNS Holdings with a Buy and $72 price target.
10/18/19
SBSH
10/18/19
NO CHANGE
Target $74
SBSH
Buy
WNS Holdings price target raised to $74 from $69 at Citi
Citi analyst Ashwin Shirvaikar raised his price target for WNS Holdings to $74 from $69 saying the company posted a "solid" beat-and-raise as it continues to benefit from a strong pipeline and success in its shift to non-linear revenue basis. The largest positive surprise in the quarter came from WNS's underlying margin expansion beyond its already industry-leading margins, Shirvaikar tells investors in a research note. The analyst recommends buying the shares with a Buy rating.
10/18/19
CANT
10/18/19
NO CHANGE
Target $73
CANT
Overweight
WNS Holdings price target raised to $73 from $68 at Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph Foresi raised his price target for WNS Holdings to $73 from $68 following the company's "solid" Q2 results. The analyst sees room for multiple expansion as the company continues to outperform expectations and maintains an Overweight rating on the name.
BK BNY Mellon
$50.68

-0.32 (-0.63%)

11/11/19
UBSW
11/11/19
UPGRADE
Target $55
UBSW
Buy
BNY Mellon upgraded to Buy from Neutral at UBS
UBS analyst Brennan Hawken upgraded BNY Mellon to Buy from Neutral with a price target of $55, up from $46. The analyst sees net interest income stabilization and improved cost control driving better than expected earnings growth in the near-term. BNY largely through its investment cycle, which should contain expense growth and lead to positive surprises, Hawken tells investors in a research note. In addition, the analyst sees less environmental pressure on the company's deposit growth now that the Federal Reserve is adding reserves to the banking system.
12/23/19
STPT
12/23/19
INITIATION
STPT
Accumulate
BNY Mellon initiated with an Accumulate at Standpoint Research
Standpoint Research analyst Ronnie Moas initiated coverage of BNY Mellon with an Accumulate rating.
01/06/20
WOLF
01/06/20
UPGRADE
WOLF
Outperform
BNY Mellon upgraded to Outperform from Peer Perform at Wolfe Research
Wolfe Research upgraded BNY Mellon to Outperform from Peer Perform.
PPG PPG
$130.72

0.805 (0.62%)

11/06/19
BREN
11/06/19
INITIATION
Target $150
BREN
Buy
PPG initiated with a Buy at Berenberg
Berenberg analyst Anthony Manning initiated coverage of PPG Industries with a Buy rating and $150 price target. The analyst believes the paints and coatings industry remains attractive and expects its margin expansion to outpace the wider chemicals industry. PPG is his preferred pick in the sector.
11/01/19
MSCO
11/01/19
INITIATION
Target $130
MSCO
Equal Weight
PPG resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Vincent Andrews resumed coverage of PPG Industries with an Equal Weight rating and $130 price target. With PPG's valuation at the high end of its historical range, the stock's risk/reward is balanced at current levels, Andrews tells investors in a research note.
11/01/19
11/01/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Digi International (DGII) initiated with an Outperform at Baird. 2. Wave Life Sciences (WVE) initiated with a Buy at Guggenheim. 3. PPG (PPG) resumed with an Equal Weight at Morgan Stanley. 4. Homology Medicines (FIXX) initiated with a Perform at Oppenheimer. 5. Sarepta (SRPT) initiated with a Buy at Guggenheim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/18/19
GSCO
11/18/19
DOWNGRADE
GSCO
Buy
PPG downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Robert Koort removed PPG Industries from his firm's Americas Conviction List while maintaining a Buy rating on the shares. The analyst says that while he believes PPG "boasts a degree of cyclical leverage" in the event of an improvement in general macroeconomic trends given its exposures to Europe, Asia, and the auto-cycle, he prefers exposure to companies with more meaningful volume and margin uplift potential. Koort adds, however, that PPG's valuation is "undemanding" on a historical basis and the company has significant balance sheet flexibility to drive in-organic growth or repurchase shares.
AA Alcoa
$20.17

-0.19 (-0.93%)

11/13/19
11/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Skyworks (SWKS) downgraded to Hold from Buy at Canaccord with analyst T. Michael Walkley saying he believes the company is well positioned to grow faster than the broader semi market for the next several years due to smartphone mix among Chinese OEMs requiring integrated Rf solutions, growing IoT opportunities, and the ramping 5G market opportunities. 2. D.R. Horton (DHI) downgraded to Neutral from Buy at Buckingham. 3. Diplomat Pharmacy (DPLO) downgraded to Equal Weight from Overweight at Barclays with analyst Steven Valiquette saying Diplomat's strategic review is ongoing, which could lead to a sale of the entire company, or simultaneous asset sales that could unlock value. 4. Alcoa (AA) downgraded to Underperform from Neutral at BofA/Merrill with analyst Timna Tanners citing limited catalysts and a cautious aluminum view, adding that while the stock price has risen about 16% since reporting Q3, aluminum price was up only about 6% in that time frame. 5. J.M. Smucker (SJM) downgraded to Underperform from Neutral at Credit Suisse with analyst Robert Moskow saying with consensus already below management's FY20 guidance of $8.35-$8.55, it is fair to say that J.M. Smucker is already an out-of-favor stock, but he believes that consensus and the market underestimate the extent to which earnings will need to be revised lower as structural challenges continue to mount. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/17/19
12/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pentair (PNR) downgraded to Hold from Buy at Stifel with analyst Nathan Jones saying Pentair's 2020 prospects look improved over 2019 where discrete headwinds, particularly in the Aquatics business, create easy comparisons in the first half of 2020. 2. Alcoa (AA) downgraded to Market Perform from Outperform at BMO Capital with analyst David Gagliano saying BMO's reduced aluminum price forecasts for the entirety of the aluminum supply chain leave "little incremental upside potential" moving forward in the underlying price forecasts. 3. SciPlay (SCPL) was double downgraded to Sell from Buy at Goldman Sachs while Groupon (GRPN) was downgraded to Sell from Neutral. 4. Lennar (LEN) and Fortune Brands (FBHS) were downgraded to Sector Perform from Outperform at RBC Capital while D.R. Horton (DHI) was downgraded to Underperform from Sector Perform. 5. Alexion (ALXN) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Matthew Harrison saying while he thinks the company can effectively transition Soliris to Ultomiris and maintain its large and emerging neurology franchise, he does not see the "major overhang of concentration risk" as one the company will be able to address in the near-term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/17/19
BMOC
12/17/19
DOWNGRADE
Target $23
BMOC
Market Perform
Alcoa downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst David Gagliano downgraded Alcoa to Market Perform from Outperform with a price target of $23, down from $25. The analyst says BMO's reduced aluminum price forecasts for the entirety of the aluminum supply chain leave "little incremental upside potential" moving forward in the underlying price forecasts. With Alcoa shares highly sensitive to underlying price forecasts, there are limited price-related catalysts to push the stock higher in 2020, Gagliano tells investors in a research note.
12/20/19
RILY
12/20/19
NO CHANGE
Target $25
RILY
Buy
Alcoa price target lowered to $25 from $28 at B. Riley FBR
B. Riley FBR analyst Lucas Pipes lowered his price target for Buy-rated Alcoa (AA) to $25 from $28 and for Buy-rated Century Aluminum (CENX) to $11 from $12. The new price targets reflect tweaks to FBR's commodity price assumptions for aluminum and alumina. However, the analyst notes his firm's long-term price deck for aluminum is still 11% above spot prices, reflecting optimism that lower exchange inventories in China and an improved economic outlook could contribute to a price recovery.
QD Qudian
$4.39

-0.19 (-4.15%)

10/10/19
BOCM
10/10/19
INITIATION
Target $6.82
BOCM
Neutral
Qudian initiated with a Neutral rating at BOCOM
BOCOM analyst Hannah Han initiated coverage of Qudian with a Neutral rating and $6.82 price target.
05/14/19
CHRS
05/14/19
INITIATION
Target $8
CHRS
Hold
Qudian assumed with a Hold at China Renaissance
China Renaissance analyst Jiang Zhang assumed coverage of Qudian with a Hold rating and $8 price target, citing the company's uncertain long-term growth outlook.
11/20/19
NOMU
11/20/19
NO CHANGE
Target $6.51
NOMU
Neutral
Qudian price target lowered to $6.51 from $10 at Nomura Instinet
Nomura Instinet analyst Martin Ma lowered his price target for Qudian to $6.51 from $10 saying he remains cautious on the company's asset quality outlook. The analyst reduced his estimates to reflect worse than expected asset quality of Qudian's loan book business. Ma sees rising balance sheet risks and keeps a Neutral rating on Qudian.
11/20/19
MACQ
11/20/19
DOWNGRADE
Target $4
MACQ
Underperform
Qudian downgraded to Underperform from Neutral at Macquarie
Macquarie analyst Dexter Hsu downgraded Qudian to Underperform from Neutral with a price target of $4, down from $7. The analyst sees increasing risks from asset quality and regulation. Qudian's existing loan book has exposed its weakness in risk management, which will affect its open platform business, Hsu tells investors in a research note. He believes the company's strategy to save costs by exploiting its existing user base has translated into higher credit costs.
MIK Michaels
$6.99

-0.26 (-3.59%)

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.
01/16/20
GSCO
01/16/20
DOWNGRADE
Target $6.5
GSCO
Sell
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.
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.
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.

TODAY'S FREE FLY STORIES

EFSC

Enterprise Financial

$48.49

0.16 (0.33%)

16:45
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16:45
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Earnings
Enterprise Financial reports Q4 EPS $1.09, consensus $1.09 »

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  • 21

    Jan

TGP

Teekay LNG

$14.73

-0.26 (-1.73%)

16:33
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Teekay LNG Partners declares distribution of 19c per common unit »

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WES

Western Midstream

$20.60

-0.55 (-2.60%)

16:31
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Hot Stocks
Western Midstream announces Q4 2019 distribution »

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  • 28

    Feb

CPG

Crescent Point Energy

$4.20

-0.08 (-1.87%)

16:29
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Crescent Point closes sale of gas infrastructure assets »

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CHSCP

CHS Inc.

$28.85

0.13 (0.45%)

16:26
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CHS Inc. names Olivia Nelligan as Chief Financial Officer »

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GMAB

Genmab

$22.73

-0.13 (-0.57%)

, JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

16:25
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Genmab announces European Marketing Authorization for DARZALEX »

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GMAB

Genmab

$22.73

-0.13 (-0.57%)

JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

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  • 22

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PRPO

Precipio

$2.09

-0.02 (-0.95%)

16:25
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Conference/Events
Precipio to host shareholder update conference call »

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  • 20

    Jan

TILE

Interface

$17.37

0.23 (1.34%)

16:22
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Hot Stocks
Interface names Dan Hendrix as President, CEO »

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IBCP

Independent Bank

$22.51

-0.26 (-1.14%)

16:19
01/20/20
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Independent Bank announces 11% increase in quarterly cash dividend »

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JAZZ

Jazz Pharmaceuticals

$151.00

-0.56 (-0.37%)

16:17
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Jazz Pharmaceuticals receives EU Marketing Authorization for Sunosi »

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  • 29

    Jan

AMRN

Amarin

$19.91

-0.15 (-0.75%)

16:13
01/20/20
01/20
16:13
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16:13
Recommendations
Amarin analyst commentary  »

Amarin remains in…

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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%)

16:09
01/20/20
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16:09
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16:09
Periodicals
Macron, Trump declare truce in digital tax dispute, Reuters reports »

French President Emmanuel…

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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XOM

Exxon Mobil

$68.55

-0.26 (-0.38%)

, HES

Hess Corp.

$69.87

-0.45 (-0.64%)

16:07
01/20/20
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16:07
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16:07
Periodicals
Guyana's first oil cargo to be refined by Exxon in the U.S., Reuters reports »

A vessel carrying…

XOM

Exxon Mobil

$68.55

-0.26 (-0.38%)

HES

Hess Corp.

$69.87

-0.45 (-0.64%)

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TSLA

Tesla

$510.34

-3.065 (-0.60%)

16:04
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Periodicals
Tesla rebuffs U.S. safety recall petition, Reuters reports »

Tesla said there was no…

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  • 29

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EADSY

Airbus

$0.00

(0.00%)

16:02
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16:02
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Periodicals
Airbus unit to offer product to help airlines with revenue risk, Reuters says »

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AAPL

Apple

$318.66

3.33 (1.06%)

15:41
01/20/20
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Periodicals
Apple CEO says global corporate tax system must be overhauled, Reuters reports »

Baking changes to global…

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  • 28

    Jan

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

15:27
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15:27
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Periodicals
Alphabet calls for 'proportionate approach' to AI regulation, Reuters reports »

Sundar Pichai, the CEO of…

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

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  • 22

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

15:24
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Periodicals
Alphabet CEO backs temporary ban on facial-recognition, Reuters reports »

The EU's proposal…

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

MSFT

Microsoft

$167.06

0.82 (0.49%)

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BA

Boeing

$324.11

-7.89 (-2.38%)

, AER

AerCap

$62.35

-0.18 (-0.29%)

15:10
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AerCap CEO warns against panic discounts for Boeing 737 MAX, Reuters says »

Owners of Boeing's…

BA

Boeing

$324.11

-7.89 (-2.38%)

AER

AerCap

$62.35

-0.18 (-0.29%)

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  • 29

    Jan

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BA

Boeing

$324.11

-7.89 (-2.38%)

15:05
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Periodicals
Aviation executive says Boeing should ditch 'MAX,' NY Post reports »

Steven Udvar-Hazy is the…

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  • 29

    Jan

BA

Boeing

$324.11

-7.89 (-2.38%)

14:08
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Periodicals
Boeing close to securing $10B loan, Bloomberg reports »

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  • 29

    Jan

CAE

CAE

$29.65

-0.14 (-0.47%)

14:05
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CAE appoints Todd Probert as Group President, Defense & Security »

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  • 07

    Feb

ACC

American Campus

$46.31

-0.085 (-0.18%)

14:03
01/20/20
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American Campus analyst commentary  »

American Campus announces…

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  • 19

    Feb

UPS

UPS

$118.61

0.005 (0.00%)

14:02
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14:02
Hot Stocks
UPS launches e-commerce plug-ins as part of UPS Digital Access Program »

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  • 30

    Jan

WINS

Wins Finance

$12.50

-1.2 (-8.76%)

13:58
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13:58
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Wins Finance announces submission of compliance plan to Nasdaq »

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