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NFLX Netflix $399.49 3.57 (0.90%) , PH Parker-Hannifin $157.79 -3.79 (-2.35%) … 10:14 07/16/18 07/16 10:14 07/16/18 10:14 Initiation	On The Fly: Top five analyst initiations » Catch up on today's…click here. Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Aptinyx (APTX) initiated with an Overweight at JPMorgan and an Outperform at BMO Capital as well as Aptinyx (APTX). 2. Magenta Therapeutics (MGTA) initiated with an Outperform at Wedbush, an Outperform at Cowen and JPMorgan, as well as a Buy at Goldman Sachs. 3. Wyndham Destinations (WYND) and Marriott Vacations (VAC) were initiated with a Buy at Jefferies while Hilton Grand Vacations (HGV) was initiated with a Hold. 4. AvroBio (AVRO) initiated with an Outperform at Wedbush, Cowen, and Wells Fargo, and an Overweight at Morgan Stanley. 5. Keurig Dr Pepper (KDP) resumed with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. NFLX Netflix $399.49 3.57 (0.90%) PH Parker-Hannifin $157.79 -3.79 (-2.35%) ROK Rockwell Automation $168.02 -3.1 (-1.81%) FDX FedEx $231.55 -2.2 (-0.94%) HAS Hasbro $94.14 -2.365 (-2.45%) XON Intrexon $14.90 -0.48 (-3.12%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	16 Jul 23 Jul 25 Jul 17 Sep 20 Sep 21 Sep
NFLX Netflix $399.49 3.57 (0.90%) , PH Parker-Hannifin $157.79 -3.79 (-2.35%) … 10:14 07/16/18 07/16 10:14 07/16/18 10:14 Downgrade	On The Fly: Top five analyst downgrades » Catch up on today's…click here. Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Underperform from Neutral at Buckingham with analyst Matthew Harrigan saying he estimates that the stock's current price implies "optimistic" views of the company reaching 360M global members in 2025 and 505M by 2033 along with a long-term operating profit margin near 35%. 2. Rockwell Automation (ROK) downgraded to Sell from Neutral at Goldman Sachs while Parker-Hannifin (PH) was downgraded to Neutral from Buy. 3. FedEx (FDX) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz saying with a large global Express business representing 55% of revenue and about 13% of revenue linked to Asia, FedEx is exposed to risk from tariffs and potentially slower trade activity. 4. Hasbro (HAS) downgraded to Underperform from Market Perform at BMO Capital with analyst Gerrick Johnson saying the liquidation of Toys R US may be "more impactful than investors realize" after the initial 9% rally in the stock price on "relief that things were not worse," even as retailers are becoming more selective in the "pantry loading" inventory restocking process. 5. Intrexon (XON) downgraded to Underperform from Neutral at BofA/Merrill with analyst Derik de Bruin citing lack of near-term catalysts and lack of contribution from "advanced" programs until 2020s. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. NFLX Netflix $399.49 3.57 (0.90%) PH Parker-Hannifin $157.79 -3.79 (-2.35%) ROK Rockwell Automation $168.02 -3.1 (-1.81%) FDX FedEx $231.55 -2.2 (-0.94%) HAS Hasbro $94.14 -2.365 (-2.45%) XON Intrexon $14.90 -0.48 (-3.12%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	16 Jul 23 Jul 25 Jul 17 Sep 20 Sep 21 Sep
UPS UPS $108.98 0.45 (0.41%) , FDX FedEx $233.75 1.14 (0.49%) 06:27 07/16/18 07/16 06:27 07/16/18 06:27 Upgrade	UPS, FedEx rating change at UBS » UPS upgraded to Buy from… UPS UPS $108.98 0.45 (0.41%) FDX FedEx $233.75 1.14 (0.49%) Story temporarily locked. To read stories as they happen please subscribe, Login above, or return tomorrow Get Free Trial 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	06 Aug 07 Aug 08 Aug 17 Sep 20 Sep 21 Sep
FDX FedEx $233.75 1.14 (0.49%) 06:24 07/16/18 07/16 06:24 07/16/18 06:24 Downgrade	FedEx rating change at UBS » FedEx downgraded to… FedEx downgraded to Neutral from Buy at UBS. UBS analyst Thomas Wadewitz downgraded FedEx to Neutral and lowered his price target for the shares to $256 from $183. With a large global Express business representing 55% of revenue and about 13% of revenue linked to Asia, FedEx is exposed to risk from tariffs and potentially slower trade activity, Wadewitz tells investors in a research note. The analyst sees limited visibility to near term margin expansion as the company is still ramping up integration with TNT in Europe. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	17 Sep 20 Sep 21 Sep

Thursday
FDX FedEx $230.22 -5.48 (-2.33%) 07:27 07/12/18 07/12 07:27 07/12/18 07:27 Recommendations	FedEx analyst commentary at Citi » FedEx pullback brings… FedEx pullback brings 'compelling' entry point, says Citi. Citi analyst Christian Wetherbee believes the recent pullback in shares of FedEx on trade concerns creates a "compelling" entry point. The analyst left meetings with management feeling that recent trade concerns have overly impacted FedEx's multiple, "particularly as business appears to be running at/ahead of plan." He believes the stock is "too cheap" and keeps a Buy rating on the name. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	17 Sep 20 Sep 21 Sep

Tuesday
FDX FedEx $235.89 0.95 (0.40%) , UPS UPS $108.56 -0.01 (-0.01%) … 11:25 07/10/18 07/10 11:25 07/10/18 11:25 Conference/Events	Wolfe Research transportation analyst holds a luncheon » Transportation Analyst… Transportation Analyst Group discusses the latest volume and pricing trends across freight, what now for CSX and the rails, FDX vs UPS and the best ideas for the remainder of 2018 at a group luncheon to be held in New York on July 10 at 12 pm hosted by Wolfe Research. FDX FedEx $235.89 0.95 (0.40%) UPS UPS $108.56 -0.01 (-0.01%) CSX CSX $65.71 -0.78 (-1.17%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	10 Jul 17 Jul 06 Aug 07 Aug 08 Aug 26 Aug 17 Sep 20 Sep 21 Sep
FDX FedEx $234.94 6.67 (2.92%) , UPS UPS $108.57 2.61 (2.46%) … 04:55 07/10/18 07/10 04:55 07/10/18 04:55 Conference/Events	Wolfe Research transportation analyst holds a luncheon » Transportation Analyst… Transportation Analyst Group discusses the latest volume and pricing trends across freight, what now for CSX and the rails, FDX vs UPS and the best ideas for the remainder of 2018 at a group luncheon to be held in New York on July 10 at 12 pm hosted by Wolfe Research. FDX FedEx $234.94 6.67 (2.92%) UPS UPS $108.57 2.61 (2.46%) CSX CSX $66.49 1.48 (2.28%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	10 Jul 17 Jul 06 Aug 07 Aug 08 Aug 26 Aug 17 Sep 20 Sep 21 Sep

Over a week ago
FDX FedEx $228.61 0.81 (0.36%) , UPS UPS $106.24 0.44 (0.42%) … 16:16 07/05/18 07/05 16:16 07/05/18 16:16 Conference/Events	Wolfe Research transportation analyst holds a luncheon » Transportation Analyst… Transportation Analyst Group discusses the latest volume and pricing trends across freight, what now for CSX and the rails, FDX vs UPS and the best ideas for the remainder of 2018 at a group luncheon to be held in New York on July 10 at 12 pm hosted by Wolfe Research. FDX FedEx $228.61 0.81 (0.36%) UPS UPS $106.24 0.44 (0.42%) CSX CSX $64.36 -0.17 (-0.26%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	17 Jul 06 Aug 07 Aug 08 Aug 26 Aug 20 Sep 21 Sep
AMZN Amazon.com $1,701.64 41.64 (2.51%) , UPS UPS $105.88 -2.49 (-2.30%) … 08:28 06/29/18 06/29 08:28 06/29/18 08:28 Recommendations	Amazon.com, UPS, FedEx analyst commentary at Morgan Stanley » Amazon to insource… Amazon to insource growing part of own volume over time, says Morgan Stanley. After Amazon (AMZN) announced yesterday that it is inviting entrepreneurs to form small delivery companies, Morgan Stanley analyst Brian Nowak called it the company's most overt and public move yet in relation to building out its in-house logistics network. Nowak remains cautious on the parcel companies overall and keeps an Underweight rating on UPS (UPS) and an Equal Weight rating on FedEx (FDX), stating that he expects Amazon to insource a growing percentage of its own volumes over time. In the "best case scenario," UPS and FedEx will not grow with Amazon in e-commerce, which could be a significant drag, while in a "worst case scenario" Amazon becomes a full-fledged competitor, Nowak added. AMZN Amazon.com $1,701.64 41.64 (2.51%) UPS UPS $105.88 -2.49 (-2.30%) FDX FedEx $226.68 -3.05 (-1.33%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	06 Aug 07 Aug 08 Aug 20 Sep 21 Sep
AMZN Amazon.com $1,701.64 41.64 (2.51%) , UPS UPS $105.88 -2.49 (-2.30%) … 07:46 06/29/18 06/29 07:46 06/29/18 07:46 Recommendations	Amazon.com, UPS, FedEx analyst commentary at Bernstein » Amazon contractor model… Amazon contractor model 'not a direct threat' to FedEx, UPS, Bernstein says. Amazon yesterday announced plans to launch a program that would help entrepreneurs start local delivery businesses. Bernstein analyst David Vernon tells investors in a research note that the Delivery Service Providers program is closely modeled after FedEx's (FDX) Ground Independent Service Provider model, but says he believes that the evolution of the Amazon contractor model is not a direct threat to the FedEx and UPS (UPS) networks. The biggest threat, he says, is to growth at USPS. Vernon has an Outperform rating on FexEx and UPS, with respective price targets of $296 and $137. AMZN Amazon.com $1,701.64 41.64 (2.51%) UPS UPS $105.88 -2.49 (-2.30%) FDX FedEx $226.68 -3.05 (-1.33%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	06 Aug 07 Aug 08 Aug 20 Sep 21 Sep

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