|Over a week ago|
Fly Intel: Top five analyst upgrades » 09:5607/0607/06/21
AXP, IR, BFAM, CONE, D
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Express (AXP) upgraded to Buy from Neutral at Goldman Sachs with analyst Ryan Nash saying with the card stocks trading at less than nine-times 2022 estimates, credit likely to "remain benign for several years" and "significant" excess capital, this remains a group investors will want to own. 2. Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman Sachs with analyst Joe Ritchie saying management has made "significant strides" in transforming the company over the past year and it is "well poised to compound value over time." 3. Bright Horizons (BFAM) upgraded to Outperform from Market Perform at BMO Capital with analyst Jeffrey Silber saying he is becoming more confident in the pace of the company's FullService Center recovery. 4. CyrusOne (CONE) upgraded to Outperform from Market Perform at BMO Capital with analyst Ari Klein viewing the selloff in the shares post the investor day as an overreaction and sees a more positive risk/reward at current share levels. 5. Dominion (D) upgraded to Outperform from Sector Perform at Scotiabank with analyst Andrew Weisel liking the stock's 15% "discounted valuation" versus "high-quality" peers and "above-average growth outlook with below-average risks" compared with the industry. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Bright Horizons upgraded to Outperform from Market Perform at BMO Capital » 05:1007/0607/06/21
BMO Capital analyst…
BMO Capital analyst Jeffrey Silber upgraded Bright Horizons to Outperform from Market Perform with a price target of $173, up from $158. The analyst is becoming more confident in the pace of the company's FullService Center recovery. External metrics, including childcare sector employment and office utilization, that correlate well with Bright Horizons' business show intra-quarter improving trends in Q2, Silber tells investors in a research note. Further, many smaller centers have yet to reopen, limiting parental options, says the analyst. He believes Bright Horizons' risk/reward is attractive at current share levels.
|Over a month ago|
Bright Horizons joins the White House to offer free child care for vaccinations » 08:5806/0206/02/21
Bright Horizons has…
Bright Horizons has teamed up with the White House to offer free child care to help Americans get their COVID-19 vaccine. The initiative will help achieve the administration's goal of getting 70% of American adults vaccinated by July 4. Starting immediately, employees at participating organizations can secure back-up child care at a Bright Horizons early education and child care centers while they receive their first dose, second dose, or if they need time to recover from any side effects of the vaccination.
Citi upgrades Bright Horizons to Buy with risks to demand overdone » 06:3505/1005/10/21
Citi analyst Nithin…
Citi analyst Nithin Pejaver upgraded Bright Horizons Family Solutions to Buy from Neutral with a price target of $170, down from $180. Fears over permanent destruction of some child-care demand due to work from home and universal pre-K has lead to the shares falling 21% year-to-date, Pejaver tells investors in a research note. However, the analyst believes the risks are manageable. Demand risks to Bright Horizons' employer-sponsored centers should be limited and funding constraints will limit the scope of universal pre-K, at least initially to low income groups, says the analyst. Pejaver sees a positive risk/reward at current share levels.
Bright Horizons upgraded to Buy from Neutral at Citi » 05:1505/1005/10/21
Citi analyst Nithin…
Citi analyst Nithin Pejaver upgraded Bright Horizons Family Solutions to Buy from Neutral with a $170 price target.
Bright Horizons price target lowered to $158 from $168 at BMO Capital » 07:5705/0705/07/21
BMO Capital analyst…
BMO Capital analyst Jeffrey Silber lowered the firm's price target on Bright Horizons to $158 from $168 and keeps a Market Perform rating on the shares. The company beat on Q1 earnings and its full service center utilization improved again sequentially with expectations for that to continue, the analyst tells investors in a research note. Silber adds however that Bright Horizons did not provide guidance and that it may take until late 2021 before utilization recovers.
Bright Horizons does not expect to provide outlook through fiscal 2021 » 16:3005/0505/05/21
The company said,…
The company said, "As we previously disclosed, the COVID-19 pandemic has substantially disrupted our global operations. We remain focused on the ramping of our centers and the phased re-opening of the limited number of centers that remain temporarily closed, which we expect will continue throughout 2021. We remain confident in our business model, the strength of our client partnerships, the strength of our balance sheet and liquidity position, and our ability to continue to respond to changing market conditions. However, the broad effects of COVID-19, its duration and scope of the ongoing disruption, cannot be predicted and the negative financial impact to our results and future financial performance cannot be reasonably estimated. Therefore, we are not at this time and do not currently expect to provide full earnings guidance for the remainder of fiscal 2021."
Bright Horizons reports Q1 adjusted EPS 23c, consensus 14c » 16:2905/0505/05/21
Reports Q1 revenue $391M,…
Reports Q1 revenue $391M, consensus $389.57M. The company said, "While enrollment in our child care centers had improvements during the quarter as the economy continues to recover, our centers continue to operate below pre-COVID-19 enrollment levels during this re-ramping phase. The decrease in revenue in the full service center-based child care segment was partially offset by contributions from our back-up care and educational advisory services."
|Over a quarter ago|
Fly Intel: Top five analyst downgrades » 09:5604/0704/07/21
FGEN, CASY, ABCB, BFAM, SRE
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FibroGen (FGEN) downgraded to Neutral from Buy at H.C. Wainwright and Mizuho. 2. Casey's General Stores (CASY) downgraded to Market Perform from Outperform at Raymond James with analyst Bobby Griffin saying the downgrade is not a reflection of Casey's recent operating performance or management's capabilities, but a factor of Casey's valuation versus its historical valuation and peers. 3. Ameris Bancorp (ABCB) downgraded to Outperform from Strong Buy at Raymond James with analyst David Feaster saying the downgrade is driven by its strong performance since September 2020. 4. Bright Horizons (BFAM) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Toni Kaplan saying the potential for changing on-site work dynamics and more employer flexibility post-pandemic could result in daycare becoming more local to employee homes and lead to increased competition for Bright Horizons. 5. Sempra Energy (SRE) downgraded to Neutral from Buy at Seaport Global with analyst Angie Storozynski saying the KKR (KKR) deal should make the IEnova stock tender more expensive, noting that market valuations of California utility peers are "sharply discounted." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Morgan Stanley cuts Bright Horizons to Underweight on work flexibility risks » 07:4904/0704/07/21
As previously reported,…
As previously reported, Morgan Stanley analyst Toni Kaplan downgraded Bright Horizons to Underweight from Equal Weight with a price target of $150, down from $153. The potential for changing on-site work dynamics and more employer flexibility post-pandemic could result in daycare becoming more local to employee homes and lead to increased competition for Bright Horizons, argues Kaplan. While childcare "is not going anywhere," the employer based model could change and while Bright Horizons could adapt to a change in employee locations, it would likely face more competition in that case, the analyst explains. She is modeling a slower and more muted recovery in Full Service revenue, which leads her estimates to be 4% below consensus for 2022 revenue and 9% below for 2023, Kaplan noted.