DoorDash, Fiverr to advertise in Super Bowl for first time, WSJ says » 15:3801/2201/22/21
DASH, FVRR, SMG, VIAC
DoorDash (DASH) plans to…
DoorDash (DASH) plans to advertise in the Super Bowl for the first time with a minute long commercial that kicks off a larger marketing campaign following a year in which the company experienced strong growth fueled by lockdowns related to the COVID-19 pandemic, reported The Wall Street Journal's Sahil Patel. Other brands that did well in 2020 and are buying Super Bowl ads for the first time in the upcoming game include Fiverr (FVRR) and Scotts Miracle-Gro (SMG), according to Patel's report. ViacomCBS (VIAC), which will broadcast the Super Bowl on Feb. 7, has been seeking $5.5M for 30-second spots, the report noted. Reference Link
Canada Goose initiated with a Hold at Williams Trading » 11:2801/2201/22/21
Williams Trading analyst…
Williams Trading analyst Sam Poser initiated coverage of Canada Goose with a Hold rating and C$40 price target. While management has "done a great job of protecting the sanctity of the Canada Goose brand," according to Poser, his checks indicate that a lack of extensive, new product innovation is resulting in share loss to Moncler on the outdoor fashion side of the market. He argues that Canada Goose "must find a way to broaden its appeal and offer more frequent newness."
VMware initiated with a Neutral at Goldman Sachs » 18:5201/2101/21/21
Goldman Sachs analyst…
Goldman Sachs analyst Kash Rangan initiated coverage of VMware with a Neutral rating and $150 price target. The analyst is confident the company can hit a $20B revenue target, though there are "several" near-term headwinds. Rangan added that VMware is the "most successful" infrastructure software company to have attained scale and profitability.
Raymond James starts Fisker with Market Perform given 'crowded space' » 16:4801/2101/21/21
Raymond James analyst…
Raymond James analyst Pavel Molchanov initiated coverage of Fisker with a Market Perform rating. The analyst notes that the company operates in a "crowded space" and its margin trends are in question, though its valuation is "quite moderate" considering the standards of the "red-hot" electric vehicle market. Molchanov adds that Fisker's balance sheet is cash-rich, and its "capital-light strategy" minimizes the risk of equity dilution.
Fisker initiated with a Market Perform at Raymond James » 16:3301/2101/21/21
Raymond James analyst…
Raymond James analyst Pavel Molchanov initiated coverage of Fisker with a Market Perform rating.
Fly Intel: What to watch in Intel's earnings report » 13:1201/2101/21/21
INTC, VMW, TSM, SSNLF
Intel (INTC) is scheduled…
Gap's Athleta adds extended sizing to 350 styles in its 200 stores, online » 12:5701/2101/21/21
Gap's Athleta unit…
Gap's Athleta unit announced the expansion of extended sizing to 350 styles across its collection. For Spring 2021, 70% of the Athleta collection will be available in sizes 1X-3X. Athleta said its extended sizing expansion brings to life its mission of inclusivity and reinforces its commitment to empower women to lead an active lifestyle with confidence. In its continued commitment to size-inclusivity, Athleta will offer extended sizes across all categories by the end of 2022.
Fisker call volume above normal and directionally bullish » 11:2501/2101/21/21
Bullish option flow…
Bullish option flow detected in Fisker with 17,675 calls trading, 1.4x expected, and implied vol increasing almost 4 points to 74.08%. 1/22 weekly 15.5 calls and 1/22 weekly 15 calls are the most active options, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 0.14.
Fly Intel: Top five analyst downgrades » 09:5401/2101/21/21
MAXR, BUD, DD, CVX, VMW
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Maxar Technologies (MAXR) downgraded to Neutral from Overweight at JPMorgan with analyst Benjamin Arnstein saying Maxar's turnaround path "has now been fully incorporated into market expectations," and it is prudent for investors to take profits, says the analyst. 2. AB InBev (BUD) downgraded to Sell from Hold at Societe Generale with analyst Toby McCullagh saying he is concerned that the recent "COVID-supported market growth" and share momentum in the U.S. will prove short-lived. 3. DuPont (DD) downgraded to Neutral from Buy at BofA with analyst Steve Byrne noting that the company is still set up for a strong earnings performance this year, but with DuPont valuation at 14-times expected EBITDA, he sees valuation as being "close to fair". 4. Chevron (CVX) downgraded to Hold from Buy at Jefferies with analyst Giacomo Romeo saying his downgrade is principally driven by valuation. 5. VMware (VMW) downgraded to Sector Weight from Overweight at KeyBanc with analyst Alex Kurtz saying the firm's CIO Survey and input from channel discussions lead him to see "a more challenging first half" for the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ViacomCBS price target raised to $55 from $36 at Needham » 08:4501/2101/21/21
VIAC, DIS, NFLX, ROKU
Needham analyst Laura…
Needham analyst Laura Martin raised the firm's price target on ViacomCBS (VIAC) to $55 from $36 and keeps a Buy rating on the shares. The analyst believes that similar to Disney (DIS), Viacom will be revalued higher this year with the launch of Paramount+ and its analyst day presentation set for Q1 of this year. Martin adds that when applying comparable enterprise value to expected revenue multiples of Netflix (NFLX) and Roku (ROKU), investors are undervaluing about $5B of ViacomCBS' non-streaming EBITDA and $1.6B of free cash flow in 2021.