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Netflix said in its…
Netflix said in its quarterly investor letter: "It's a great time to be a consumer of entertainment. There are a wealth of options ranging from linear TV to video gaming to user generated content on YouTube and TikTok. We continue to work hard to grow our small share of screen time against these major competitors. Discovery recently launched its streaming service. Disney+ is expanding in new countries and with more content. ViacomCBS will be unveiling its plans for Paramount+ in 2021. Combined with the launch of AppleTV+, WarnerMedia's HBO Max, and NBCUniversal's Peacock streaming services, this signifies that these companies all recognize the future is streaming entertainment, a vision we have been working towards since inception. Our strategy is simple: if we can continue to improve Netflix every day to better delight our members, we can be their first choice for streaming entertainment. This past year is a testament to this approach. Disney+ had a massive first year (87 million paid subscribers!) and we recorded the biggest year of paid membership growth in our history."
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01/19/21 ViacomCBS announces Paramount+ to launch in the U.S. on March 4 01/15/21 AMC Networks appoints Christina Spade as CFO 01/14/21 ViacomCBS delivers 1st time broadcast inventory enabled via MVPD set-top box 01/14/21 iQIYI announces 'Deer Squad' to premiere in the U.S. this month 01/13/21 Warner Bros.' upcoming 'Harry Potter' game delayed to 2022 01/12/21 NII Holdings reaches settlement pact with AT&T 01/05/21 AT&T CFO says cash flows, ability to pay 'solid' dividend 'underappreciated' 12/22/20 AT&T, communications union reach pacts on Mobility contract extensions 01/19/21 Netflix says 'very close to being sustainably FCF positive' 01/19/21 Netflix now targets 20% operating margin in FY21 01/19/21 Netflix up 7% after Q4 results, Q1 guidance 01/19/21 Netflix sees Q1 global streaming paid net additions of 6.0M 01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/13/21 Ubisoft confirms collaboration with Lucasfilm on open-world 'Star Wars' game 01/08/21 Epic Games acquires RAD Game Tools, terms not disclosed 01/06/21 Digital video game sales rose 12% y/y to $126.6B in 2020, says SuperData 01/03/21 Fly Intel: Top five weekend stock stories 01/07/21 Comscore announces strategic investment by Charter, Qurate Retail, Cerberus 01/07/21 NBCUniversal, Charter announce multi-year distribution agreement 01/07/21 Tegna, FreeWheel announce new multi-year deal 01/06/21 Comcast announces Sky Group CEO Jeremy Darroch to switch roles 01/17/21 Fly Intel: Top five weekend stock stories 01/15/21 VirnetX says court affirms jury award of $502.8M against Apple 01/15/21 VirnetX jumps after court denies Apple motion for new patent trial 01/14/21 Abbott launches NeuroSphere myPath digital health app 01/19/21 JPMorgan JPMorgan says buy 'FANG' stocks amid 'fatigue and frustration' 01/15/21 Citi Citi cuts Spotify to Sell with no benefit seen on podcast investments 01/15/21 Piper Sandler Netflix search index suggests in-line Q4 subscriber results, says Piper Sandler 01/14/21 Barclays Netflix could add 90M Asia-Pacific subs in five years, says Barclays 01/15/21 MoffettNathanson Disney price target raised to $180 from $160 at MoffettNathanson 01/14/21 Citi Disney price target raised to $205 from $175 at Citi 01/14/21 Citi Netflix price target raised to $580 from $450 at Citi 01/13/21 KeyBanc New 'Star Wars' game 'certainly a boost' for Ubisoft pipeline, says KeyBanc 01/19/21 Fly Intel: Top five analyst downgrades 01/19/21 Credit Suisse Discovery price target raised to $41 from $33 at Credit Suisse 01/19/21 Evercore ISI Discovery added to 'Tactical Outperform list' at Evercore ISI 01/19/21 Barclays Discovery downgraded to Underweight from Equal Weight at Barclays 01/19/21 Barclays ViacomCBS downgraded to Underweight from Overweight at Barclays 01/15/21 MoffettNathanson ViacomCBS price target raised to $50 from $26 at MoffettNathanson 01/12/21 Wells Fargo ViacomCBS price target raised to $43 from $30 at Wells Fargo 01/19/21 Craig-Hallum Lumentum acquisition of Coherent 'a good fit in many ways,' says Craig-Hallum 01/19/21 BMO Capital Facebook upgraded to Outperform from Market Perform at BMO Capital 01/15/21 Goldman Sachs Goldman Sachs raises short-term forecasts for Apple, maintains Sell rating 01/15/21 Loop Capital Apple price target raised to $155 from $131 at Loop Capital 01/04/21 Fly Intel: Top five analyst upgrades 01/04/21 Raymond James AT&T upgraded to Outperform from Market Perform at Raymond James 01/04/21 Raymond James AT&T upgraded to Outperform from Market Perform at Raymond James 12/24/20 Raymond James AT&T estimates lowered ahead of Q4 report at Raymond James 01/19/21 Barclays Comcast price target raised to $53 from $48 at Barclays 01/14/21 Macquarie Comcast price target raised to $58 from $53 at Macquarie 12/16/20 Morgan Stanley Morgan Stanley names Comcast a top pick, raises price target to $62 11/25/20 TD Securities Comcast downgraded to Hold after recent rally at TD Securities 11/06/20 ViacomCBS reports Q3 adj. EPS 91c, consensus 80c 11/05/20 Notable companies reporting before tomorrow's open 08/06/20 ViacomCBS reports Q2 EPS $1.25, consensus 93c 01/05/21 AT&T CFO says HBO Max activations will continue to increase 10/22/20 AT&T reports Q3 adjusted EPS 76c, consensus 76c 10/21/20 Notable companies reporting before tomorrow's open 01/19/21 Netflix sees Q1 EPS $2.97, consensus $2.10 01/19/21 Netflix reports Q4 EPS $1.19, consensus $1.39 01/19/21 Notable companies reporting after market close 10/20/20 Netflix sees Q4 EPS $1.35, consensus 94c 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 11/12/20 Disney sees FY21 results continuing to be affected by COVID-19 11/12/20 Disney reports Q4 EPS ex-items (20c), consensus (71c) 11/12/20 Notable companies reporting after market close 08/04/20 Disney sees FY20 CapEx roughly $700M lower than last year 10/29/20 Comcast reports Q3 adj. EPS 65c, consensus 52c 10/28/20 Notable companies reporting before tomorrow's open 07/30/20 Comcast reports Q2 adjusted EPS 69c, consensus 55c 10/29/20 Apple says Q4 results were ahead of expectations 10/29/20 Apple reports Q4 Services revenue $14.55B vs. $12.51B last year 10/29/20 Apple reports Q4 iPhone revenue $24.44B vs. $33.36B last year 10/29/20 Apple reports Q4 EPS 73c, consensus 70c 01/15/21 Coca-Cola won't run ads during Super Bowl, Variety reports 12/10/20 Disney, NBCUniversal unlikely to follow WarnerMedia's 2021 media plan, CNBC says 11/24/20 Bertelsmann in lead to buy Simon & Schuster from ViacomCBS, FT reports 11/17/20 News Corp. to bid for ViacomCBS publisher Simon & Schuster, FT reports 01/11/21 Verizon suspends contributions to lawmakers opposing certification, Reuters says 12/28/20 'Wonder Woman 1984' collected $16.7M in opening weekend, Variety reports 12/21/20 AT&T unhappy with offers for DirecTV, NY Post reports 01/15/21 Data suggests Netflix North American usage dipped in Q4, Business Insider says 01/06/21 Netflix raising prices for some UK subscription plans, BBC reports 12/15/20 Netflix streaming experiences outage for over 1,000 users, Reuters says 12/07/20 Netflix sued by Activision over allegedly poaching former CFO, WSJ reports 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 01/13/21 Lucasfilm partners with Ubisoft to make open-world 'Star Wars' game, Wired says 01/12/21 Walmart, Disney halt donations to lawmakers against Biden win, Bloomberg says 01/12/21 Disneyland to serve as mass vaccination site in Orange County, CA, Reuters says 01/02/21 Coca-Cola, Disney among value stocks deserving a fresh look, Barron's says 01/13/21 Amazon plans bid for Italy's 'top soccer TV rights,' Bloomberg says 12/19/20 Comcast well positioned for post-COVID world, Barron's says 12/07/20 Comcast's Sky weighs cutting up to 20% of staff in Italy, Bloomberg says 01/17/21 Apple considering foldable iPhone, minor changes for 2021 models, Bloomberg says 01/17/21 Google might face 4th government suit over business practices, Reuters says 01/15/21 Apple to re-close stores in Texas, North Carolina, Georgia, Bloomberg says 01/15/21 Apple to challenge Spotify with podcast subscription service, Information says 11/25/20 Fly Intel: Wall Street's top stories for Wednesday 11/25/20 Fly Intel: Wall Street's top stories at midday 12/28/20 AMC, Cinemark rise as WW84 scores highest box office opening of pandemic 12/28/20 Fly Intel: Pre-market Movers 12/17/20 Fly Intel: Wall Street's top stories for Thursday 01/19/21 Fly Intel: What to watch in Netflix earnings report 01/15/21 Spotify plunges after downgrade, report of Apple podcast ambitions 01/15/21 Accolade upgrade, Spotify downgrade among today's top calls on Wall Street 12/09/20 Disney rises as Wall Street analysts get more bullish ahead of investor day 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 01/12/21 Game On: Roblox files for direct listing as GameStop adds new directors 12/22/20 FuboTV jumps as analysts up targets on 'strong upside momentum' 12/14/20 Fly Intel: Wall Street's top stories for Monday 12/10/20 Fly Intel: Wall Street's top stories for Thursday 11/25/20 Ford, Gap downgrades among today's top calls on Wall Street 11/03/20 Fly Intel: Wall Street's top stories for Tuesday 01/19/21 Lumentum slides after announcing $5.7B merger deal with Coherent 01/19/21 Facebook upgrade, Roku initiation among today's top calls on Wall Street 01/15/21 Fly Intel: Wall Street's top stories for Friday 12/14/20 ViacomCBS Class B put volume heavy and directionally bearish 12/11/20 ViacomCBS Class B call volume above normal and directionally bullish 11/23/20 ViacomCBS Class B call volume above normal and directionally bullish 11/20/20 ViacomCBS Class B call volume above normal and directionally bullish 01/07/21 Notable open interest changes for January 7th 01/05/21 Notable open interest changes for January 5th 12/30/20 Notable open interest changes for December 30th 12/18/20 Notable open interest changes for December 18th 01/19/21 Netflix options imply 9.5% move in share price post-earnings 12/31/20 Early notable gainers among liquid option names on December 31st 10/26/20 Early notable gainers among liquid option names on October 26th 10/21/20 Notable open interest changes for October 21st 09/17/20 Early notable gainers among liquid option names on September 17th 12/29/20 Unusual call flow in option market yesterday 12/28/20 Disney call volume above normal and directionally bullish 12/14/20 Notable open interest changes for December 14th 12/11/20 Early notable gainers among liquid option names on December 11th 01/11/21 Comcast put volume heavy and directionally bearish 12/24/20 Unusual call flow in option market yesterday 12/23/20 $2M block of Comcast calls tied to hedge possible stock replacement trade 12/22/20 Unusually active option classes on open December 22nd 01/19/21 Notable open interest changes for January 19th 01/15/21 Notable open interest changes for January 15th 01/14/21 Notable open interest changes for January 14th 01/13/21 Notable open interest changes for January 13th
Downgrade
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. ViacomCBS (VIAC) double downgraded to Underweight from Overweight at Barclays with analyst Kannan Venkateshwar saying that even if he assumes "significant acceleration" in growth in the coming five years for ViacomCBS's streaming service and uses Netflix's (NFLX) multiple, there isn't much upside versus present stock levels. 2. Discovery (DISCA) downgraded to Underweight from Equal Weight at Barclays with analyst Kannan Venkateshwar saying he finds the optimism around some of these streaming launches like Discovery+ to be premature. 3. Peloton (PTON) downgraded to Sell from Neutral at UBS with analyst Eric Sheridan saying the stock is "emblematic of a market that values growth over any semblance of valuation that can be justified" on a multiple year view based on fundamentals. 4. Take-Two (TTWO) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying that while he makes no changes to his operating estimates or multiples, he downgrades the stock to reflect a "more balanced risk/reward" after a 37% run-up in the stock price over the past six months. 5. Total (TOT) downgraded to Market Perform from Outperform at Cowen with analyst Jason Gabelman downgraded saying he sees a multi-year patch of in-line performance while the stock trades at an elevated premium to peers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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01/19/21 ViacomCBS announces Paramount+ to launch in the U.S. on March 4 01/15/21 AMC Networks appoints Christina Spade as CFO 01/14/21 ViacomCBS delivers 1st time broadcast inventory enabled via MVPD set-top box 01/14/21 iQIYI announces 'Deer Squad' to premiere in the U.S. this month 01/15/21 Activision's 'COD: Black Ops: Cold War' best-selling game of 2020, says NPD 01/15/21 December video game spending grew 25% y/y to $7.7B, says NPD 01/13/21 Take-Two announces lapse of offer to acquire Codemasters Group 01/19/21 Total to acquire 20% interest in Adani Green Energy from Adani Group 01/15/21 Total opts not to renew API membership for 2021 01/14/21 Apache announces fourth oil discovery at Keskesi East-1 Well 12/21/20 Clean Energy, Total announce MOU to create 50/50 RNG joint venture 12/21/20 Peloton jumps 5% to $152.49 after agreeing to acquire Precor for $420M 12/21/20 Peloton to acquire Precor for $420M 12/09/20 Peloton grows Plano campus by more than 100,000 square feet 11/16/20 Tiger Global adds Snowflake, GSX and BigCommerce during Q3 01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/19/21 Barclays ViacomCBS downgraded to Underweight from Overweight at Barclays 01/15/21 MoffettNathanson ViacomCBS price target raised to $50 from $26 at MoffettNathanson 01/12/21 Wells Fargo ViacomCBS price target raised to $43 from $30 at Wells Fargo 01/05/21 Gabelli ViacomCBS named a best idea for 2021 at Gabelli 01/19/21 Credit Suisse Discovery price target raised to $41 from $33 at Credit Suisse 01/19/21 Evercore ISI Discovery added to 'Tactical Outperform list' at Evercore ISI 01/19/21 Barclays Discovery downgraded to Underweight from Equal Weight at Barclays 01/15/21 Fly Intel: Top five analyst upgrades 01/19/21 UBS Peloton downgraded to Sell from Neutral at UBS 01/08/21 Fly Intel: Top five analyst initiations 01/08/21 Gordon Haskett Peloton initiated with a Buy at Gordon Haskett 01/05/21 Stifel Stifel adds Vroom to Select List, removes Buy-rated Peloton 01/19/21 UBS Take-Two downgraded to Neutral from Buy at UBS 01/14/21 MKM Partners Take-Two downgraded to Neutral from Buy at MKM Partners 01/14/21 Deutsche Bank Take-Two price target raised to $240 from $200 at Deutsche Bank 01/13/21 Fly Intel: Top five analyst downgrades 01/19/21 Cowen Cowen downgrades Total to Market Perform, In line performance seen 01/19/21 Cowen Total downgraded to Market Perform from Outperform at Cowen 01/15/21 JPMorgan Total price target raised to EUR 46 from EUR 44 at JPMorgan 01/14/21 Societe Generale Societe Generale downgrades three EU oil & gas names after strong performances 11/06/20 ViacomCBS reports Q3 adj. EPS 91c, consensus 80c 11/05/20 Notable companies reporting before tomorrow's open 08/06/20 ViacomCBS reports Q2 EPS $1.25, consensus 93c 11/05/20 Take-Two raises FY21 net bookings view to $3.15B-$3.25B from $2.8B-$2.9B 11/05/20 Take-Two reports Q2 GAAP EPS 86c, consensus $1.48 08/03/20 Take-Two raises FY21 EPS view to $3.04-$3.30 from $2.60-$2.85 11/05/20 Peloton sees Q2 revenue $1B, consensus $939.04M 11/05/20 Peloton reports Q1 EPS 20c, consensus 11c 11/05/20 Notable companies reporting after market close 09/10/20 Peloton sees FY21 revenue $3.5B-$3.65B, consensus $2.72B 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 01/15/21 Coca-Cola won't run ads during Super Bowl, Variety reports 12/10/20 Disney, NBCUniversal unlikely to follow WarnerMedia's 2021 media plan, CNBC says 11/24/20 Bertelsmann in lead to buy Simon & Schuster from ViacomCBS, FT reports 11/17/20 News Corp. to bid for ViacomCBS publisher Simon & Schuster, FT reports 10/12/20 Take-Two's Rockstar purchased Ruffian Games, TheGamer says 10/03/20 Videogame stocks about to get another boost, Barron's says 10/01/20 Roblox working with investment banks for U.S. stock market listing, Reuters says 08/11/20 AT&T may not sell Warner Bros. Interactive after all, PCGamer reports 01/05/21 Saudi Arabia, Russia reach oil compromise, WSJ reports 01/05/21 OPEC+ reaches deal to hold oil output broadly steady, Bloomberg says 12/03/20 OPEC, allies agree to output boost of 500,000 barrels a day,WSJ reports 12/03/20 OPEC+ agrees on modest oil output increase from January, Reuters says 01/17/21 Peloton rapid rise threatened by slow delivery, NY Times says 12/28/20 Goldman Sachs leads $65M financing in Echelon Fitness, Bloomberg says 11/25/20 Peloton shipping delays may benefit Nautilus, WSJ reports 10/05/20 NordicTrack owner valued at over $7B in new funding round, Bloomberg says 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/25/20 Fly Intel: Wall Street's top stories for Wednesday 11/25/20 Fly Intel: Wall Street's top stories at midday 01/12/21 Game On: Roblox files for direct listing as GameStop adds new directors 01/05/21 Game On: Nintendo buys 'Luigi's Mansion 3' developer Next Level Games 12/22/20 Game On: Sony pulls buggy 'Cyberpunk 2077' from PS Store 12/15/20 Game On: NPD reports 35% year-over-year jump in November gaming spending 12/22/20 Fly Intel: Wall Street's top stories for Tuesday 12/22/20 Fly Intel: Wall Street's top stories at midday 12/22/20 Fly Intel: Pre-market Movers 12/21/20 Fly Intel: After-Hours Movers 11/05/20 Fly Intel: Pre-market Movers 12/14/20 ViacomCBS Class B put volume heavy and directionally bearish 12/11/20 ViacomCBS Class B call volume above normal and directionally bullish 11/23/20 ViacomCBS Class B call volume above normal and directionally bullish 11/20/20 ViacomCBS Class B call volume above normal and directionally bullish 10/26/20 TakeTwo Interactive Software call volume above normal and directionally bullish 07/30/20 TakeTwo Interactive Software put volume heavy and directionally bearish 07/24/20 TakeTwo Interactive Software call volume above normal and directionally bullish 09/23/20 Unusual put flow in option market yesterday 09/22/20 Peloton put seller rolls position from Jan to April 09/11/20 Notable open interest changes for September 11th 09/11/20 Unusual call flow in option market yesterday 09/17/20 Early notable gainers among liquid option names on September 17th
Recommendations
Credit Suisse analyst…
Credit Suisse analyst Douglas Mitchelson raised the firm's price target on Discovery to $41 from $33 and keeps an Outperform rating on the shares. The analyst notes that consistent feedback across his Media coverage from managements and ad buyers suggests better-than-expected advertising in Q4, including for on demand platforms like Discovery Go. In addition, while not the 70bp improvement seen in Q3, he expects cord cutting was stable in Q4.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/19/21 Evercore ISI Discovery added to 'Tactical Outperform list' at Evercore ISI 01/19/21 Barclays Discovery downgraded to Underweight from Equal Weight at Barclays 01/15/21 Fly Intel: Top five analyst upgrades 01/15/21 MoffettNathanson Discovery upgraded to Buy with $45 price target at MoffettNathanson 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 09/17/20 Early notable gainers among liquid option names on September 17th
Recommendations
Evercore ISI analyst…
Evercore ISI analyst Vijay Jayant raised the firm's price target on Discovery to $35 from $30 and keeps an In Line rating on the shares while also adding the stock to the firm's "Tactical Outperform List." The early read on Discovery+ app download data is consistent with about 750,000 net additions through week one, said Jayant, who sees earnings upside in Q4 from advertising outperformance.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/19/21 Barclays Discovery downgraded to Underweight from Equal Weight at Barclays 01/15/21 Fly Intel: Top five analyst upgrades 01/15/21 MoffettNathanson Discovery upgraded to Buy with $45 price target at MoffettNathanson 01/15/21 MoffettNathanson Discovery upgraded to Buy from Neutral at MoffettNathanson 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 09/17/20 Early notable gainers among liquid option names on September 17th
Downgrade
Barclays analyst Kannan…
Barclays analyst Kannan Venkateshwar downgraded Discovery to Underweight from Equal Weight with a price target of $29, up from $20. The analyst says that even if he assumes "significant acceleration" in growth in the coming five years for Discovery's streaming service and uses Netflix's (NFLX) multiple, there isn't much upside versus present stock levels. As such, Venkateshwar finds the optimism around some of these streaming launches like Discovery+ to be premature.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/15/21 Fly Intel: Top five analyst upgrades 01/15/21 MoffettNathanson Discovery upgraded to Buy with $45 price target at MoffettNathanson 01/15/21 MoffettNathanson Discovery upgraded to Buy from Neutral at MoffettNathanson 01/13/21 RBC Capital Discovery price target raised to $40 from $35 at RBC Capital 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 09/17/20 Early notable gainers among liquid option names on September 17th
Over a week ago
Upgrade
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. HP Enterprise (HPE) upgraded to Overweight from Neutral at JPMorgan with analyst Paul Coster saying the company posted "two encouraging quarters" in the second half of fiscal 2020, executed on a cost-containment program, made a "well-timed" acquisition in the SD-WAN space and is pivoting into a recovery in enterprise IT spending in 2021. 2. Ralph Lauren (RL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Kate Fitzsimons noting that the stock was among the biggest laggards in 2020 with a multiple expansion of 4 turns vs. 13 seen by its peers, but she believes that 2021 will see the company outperform as EPS revisions move higher. 3. Snap (SNAP) upgraded to Buy from Neutral at MoffettNathanson with analyst Michael Nathanson saying he continues to believe Snap results will "surprise on the upside" as he's 15% above consensus on 2024 revenue and 30% above consensus on 2024 non-GAAP operating income. 4. Discovery (DISCA) upgraded to Buy from Neutral at MoffettNathanson with analyst Michael Nathanson saying he is more positive on Discovery's ability to make the "digital pivot necessary" to continue to grow sales and EBITDA in the longer-term after factoring in new Discovery+ projections. 5. Axon (AAXN) upgraded to Overweight on new market penetration at Morgan Stanley with analyst James Faucette saying recent U.S. Federal contract wins signal faster than expected penetration into one of "many new market opportunities" he sees for Axon, said Faucette, who thinks Corrections, International, and broader public safety software can follow. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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12/29/20 Snap rises 10.1% 12/17/20 Snap CFO sells 56.8K shares of common stock 12/17/20 Unity, Snap announce partnership to extend advertising, technology reach 12/14/20 FTC seeking data from Facebook, other social media and streaming services 11/16/20 Ralph Lauren named as Official Outfitter of the Australian Open 11/03/20 Ralph Lauren director Michael George buys over $250K in company shares 10/29/20 Ralph Lauren sees savings realizations primarily beginning in FY22 10/29/20 Ralph Lauren to transition Chaps brand to fully licensed business model 12/08/20 Verizon expands SD WAN portfolio with Silver Peak 12/01/20 HP Enterprise to relocate headquarters to Houston, Texas 11/17/20 Zuora announces Paul Heard as chief information officer 11/12/20 Zscaler appoints Chris Kozup as CMO 01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/15/21 Los Angeles Police Department renews contract with Axon 01/12/21 DEA to negotiate on sole source basis with Axon for body worn cameras 12/16/20 Axon to equip Green Bay police with body and in-car cameras and Taser devices 10/29/20 Justice Department permits officer use of body cameras on federal task forces 01/15/21 JPMorgan JPMorgan upgrades 'good contrarian long trade' HP Enterprise to Overweight 01/15/21 JPMorgan HP Enterprise upgraded to Overweight from Neutral at JPMorgan 12/16/20 Morgan Stanley HP Enterprise price target raised to $13.50 from $13 at Morgan Stanley 12/02/20 Citi HP Enterprise price target raised to $10 from $9 at Citi 01/15/21 RBC Capital Ralph Lauren upgraded to Outperform from Sector Perform at RBC Capital 01/15/21 RBC Capital Ralph Lauren upgraded to Outperform from Sector Perform at RBC Capital 01/11/21 UBS Ralph Lauren upgraded to Buy from Neutral at UBS 01/11/21 UBS Ralph Lauren upgraded to Buy from Neutral at UBS 01/15/21 MoffettNathanson Snap upgraded to Buy with $57 price target at MoffettNathanson 01/15/21 MoffettNathanson Snap upgraded to Buy from Neutral at MoffettNathanson 01/12/21 Cowen Snap price target raised to $62 from $45 at Cowen 01/08/21 BofA Data point to 'solid trends' for Snap in Q4, says BofA 01/15/21 MoffettNathanson Discovery upgraded to Buy with $45 price target at MoffettNathanson 01/15/21 MoffettNathanson Discovery upgraded to Buy from Neutral at MoffettNathanson 01/13/21 RBC Capital Discovery price target raised to $40 from $35 at RBC Capital 01/06/21 Citi Discovery price target raised to $36 from $28 at Citi 01/15/21 Morgan Stanley Axon upgraded to Overweight on new market penetration at Morgan Stanley 01/15/21 Morgan Stanley Axon upgraded to Overweight from Equal Weight at Morgan Stanley 12/16/20 JMP Securities Axon cut to Market Perform at JMP Securities, sees stock as fairly valued 12/16/20 JMP Securities Axon downgraded to Market Perform from Outperform at JMP Securities 10/20/20 Snap says 47%-50% year-over-year revenue growth in Q4 'attainable' 10/20/20 Snap reports Q3 adjusted EPS 1c, consensus (5c) 10/20/20 Notable companies reporting after market close 07/21/20 Snap not providing Q3 revenue, adjusted EBITDA guidance 10/29/20 Ralph Lauren sees Q3 and full year 2021 to be impacted by pandemic 10/29/20 Ralph Lauren reports Q2 EPS $1.44, consensus 90c 10/28/20 Notable companies reporting before tomorrow's open 12/01/20 HP Enterprise sees Q1 revenue down mid-single digits from Q4 12/01/20 HP Enterprise sees FY21 adjusted EPS $1.60-$1.78, consensus $1.54 12/01/20 HP Enterprise sees Q1 adjusted EPS 40c-44c, consensus 35c 12/01/20 HP Enterprise reports Q4 adjusted EPS 37c, consensus 34c 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 11/05/20 Axon raises FY20 revenue to $630M-$640M from $625M-$635M, consensus $611.77M 11/05/20 Axon sees Q4 revenue $175M-$185M, consensus 08/06/20 Axon reports Q2 non-GAAP EPS 1c, consensus 16c
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MoffettNathanson analyst…
MoffettNathanson analyst Michael Nathanson upgraded Discovery to Buy from Neutral with a price target of $45, up from $23. The analyst is more positive on Discovery's ability to make the "digital pivot necessary" to continue to grow sales and EBITDA in the longer-term after factoring in new Discovery+ projections. Nathanson forecasts Discovery+ will reach 17M subscribers by the end of 2021 and continue to grow "strongly" reaching 50M subscribers by 2025.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/15/21 MoffettNathanson Discovery upgraded to Buy from Neutral at MoffettNathanson 01/13/21 RBC Capital Discovery price target raised to $40 from $35 at RBC Capital 01/06/21 Citi Discovery price target raised to $36 from $28 at Citi 12/18/20 BofA Discovery cut to Underperform at BofA on limited visibility for Discovery+ 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 09/17/20 Early notable gainers among liquid option names on September 17th
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MoffettNathanson analyst…
MoffettNathanson analyst Michael Nathanson upgraded Discovery to Buy from Neutral with a $45 price target.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/13/21 RBC Capital Discovery price target raised to $40 from $35 at RBC Capital 01/06/21 Citi Discovery price target raised to $36 from $28 at Citi 12/18/20 BofA Discovery cut to Underperform at BofA on limited visibility for Discovery+ 12/18/20 BofA Discovery downgraded to Underperform from Buy at BofA 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 09/17/20 Early notable gainers among liquid option names on September 17th
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RBC Capital analyst…
RBC Capital analyst Kutgun Maral raised the firm's price target on Discovery to $40 from $35 and keeps an Outperform rating on the shares after hosting investor meetings with CFO Gunnar Wiedenfels and EVP of Global Investor Strategy Andrew Slabin. Maral walked away incrementally more bullish on the ability of discovery+ to differentiate itself in an increasingly crowded streaming market and become an additive avenue for IP monetization and says Discovery remains the firm's preferred pick across Media.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 01/06/21 Citi Discovery price target raised to $36 from $28 at Citi 12/18/20 BofA Discovery cut to Underperform at BofA on limited visibility for Discovery+ 12/18/20 BofA Discovery downgraded to Underperform from Buy at BofA 12/11/20 Deutsche Bank Discovery price target raised to $35 from $30 at Deutsche Bank 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 07/13/20 Street Fight: Goldman Sachs says buy ViacomCBS as BofA moves to sidelines 09/17/20 Early notable gainers among liquid option names on September 17th
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Citi analyst Jason…
Citi analyst Jason Bazinet raised the firm's price target on Discovery to $36 from $28 and keeps a Buy rating on the shares. The analyst updated his model to reflect recent developments.
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01/04/21 Discovery CEO says 'not late, just in time' with streaming service launch 01/04/21 Discovery, Vodafone sign new long-term, multi-platform agreement 01/04/21 Discovery launches discovery+ in the U.S. 01/04/21 Discovery, Vodafone announce multi-platform agreement in Europe 12/18/20 BofA Discovery cut to Underperform at BofA on limited visibility for Discovery+ 12/18/20 BofA Discovery downgraded to Underperform from Buy at BofA 12/11/20 Deutsche Bank Discovery price target raised to $35 from $30 at Deutsche Bank 12/08/20 KeyBanc Discovery initiated with a Sector Weight at KeyBanc 11/05/20 Discovery reports Q3 adjusted EPS 81c, consensus 65c 11/04/20 Notable companies reporting before tomorrow's open 08/05/20 Discovery reports Q2 adjusted EPS 77c, consensus 70c 12/23/20 Discovery raises stake in OWN JV with Oprah to 95%, Variety reports 12/02/20 Discovery to launch streaming service in January for $4.99 per month, CNBC says 12/02/20 Discovery partnering with Verizon on Discovery+ launch, CNBC says 08/24/20 Old media 'giants' cashing in on streaming, especially Disney, Bloomberg says 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 11/05/20 Fly Intel: Pre-market Movers 07/13/20 Street Fight: Goldman Sachs says buy ViacomCBS as BofA moves to sidelines 09/17/20 Early notable gainers among liquid option names on September 17th