Hologic price target lowered to $52 from $62 at Needham » 09:3104/0204/02/20
Needham analyst Mike…
Needham analyst Mike Matson lowered the firm's price target on Hologic to $52 from $62 but keeps a Buy rating on the shares. The analyst cites peer group multiple compression behind his reduced price target, but also expects its Diagnostics and Breast Health businesses to continue to drive mid-single digit revenue growth "given new products, tuck-in acquisitions, and software upgrades".
Bausch Health downgraded to Equal Weight with $17 price target at Morgan Stanley » 09:0904/0204/02/20
As previously reported,…
As previously reported, Morgan Stanley analyst David Risinger downgraded Bausch Health to Equal Weight from Overweight with a price target of $17, down from $32. He previously though Bausch would benefit from accelerating growth and financial deleveraging, but now sees the company's Vision Care and Dermatology exposure to a recession as a risk, the analyst said. He also foresees slower deleveraging and less "transaction optionality" given the macro environment.
Bausch Health downgraded to Equal Weight from Overweight at Morgan Stanley » 06:4004/0204/02/20
Morgan Stanley downgraded…
Morgan Stanley downgraded Bausch Health to Equal Weight from Overweight.
Nielsen, Sinclair Broadcast announce multi-year agreement » 06:0704/0204/02/20
Nielsen (NLSN) and…
Nielsen (NLSN) and Sinclair Broadcast Group (SBGI) announced a multi-year renewal agreement under which Nielsen will provide a comprehensive suite of measurement services for all of Sinclair's 191 local television stations and one regional cable news channel in 89 markets, 22 regional sports network brands, several Digital Television Networks, as well as its cable network Tennis Channel. This agreement includes Nielsen Scarborough, Ad Intel, Arianna and Grabix, as well as Digital in TV ratings measurement in select markets and platforms.
Digital news publishers see advertisers avoid COVID-19 content, WSJ says » 13:1704/0104/01/20
GCI, NYT, MDP, SSP, TPCO, AHC
Patience Haggin and Sahil…
Patience Haggin and Sahil Patel, writing for the Wall Street Journal, said earlier that advertisers in general, are trying to avoid online content written about the COVID-19 pandemic. Recently advertisers are increasingly using technology to avoid certain content and "where their ads can appear online, avoiding certain topics or keywords they don't want to be associated with," like COVID-19 news, added the WSJ story. "Coronavirus' is now the keyword blocked by the most brands, having overtaken 'Trump,'according to brand-safety firm Integral Ad Science," said thw WSJ. The following companies may be impacted: Gannett (GCI), New York Times (NYT), Meredith (MDP), E.W. Scripps (SSP), Tribune Publishing (TPCO) A.H. Belo (AHC). Reference Link
Masonite price target lowered to $57 from $85 at Nomura Instinet » 07:0004/0104/01/20
Nomura Instinet analyst…
Nomura Instinet analyst Michael Wood lowered the firm's price target on Masonite to $57 from $85 and keeps a Buy rating on the shares. The analyst believes the company is well positioned to weather the downturn but reduced Masonite's estimates to reflect updated end market forecasts.
Avaya Cloud launch is significant opportunity for RingCentral, says Jefferies » 21:0603/3103/31/20
Jefferies analyst Samad…
Jefferies analyst Samad Samana keeps a Buy rating on RingCentral (RNG) shares with a price target of $245, saying the launch of Avaya (AVYA) Cloud Office, or ACO, by RingCentral is a "significant opportunity" for the company that will drive strong growth for years to come. The analyst notes that ACO enables voice calls, team messaging, meetings, conferencing, and file sharing, adding that the deal should also accelerate RingCentral's move internationally as well as upmarket. Samana further notes that because of COVID-19 however, it may take until 2021 before ACO makes any material financial impact on RingCentral.
Avaya 'Office' catalyst for RingCentral a go, says Raymond James » 15:1603/3103/31/20
Raymond James analyst…
Raymond James analyst Brian Peterson notes that RingCentral (RNG) and Avaya (AVYA) announced the launch of Avaya Cloud Office, the UCaaS product suite that will be marketed to Avaya's existing installed base, powered by RingCentral. Long-term, Peterson sees no reason that RingCentral can't secure millions of incremental seats from the Avaya installed base, and argues that migration should be judged on a multi-year dynamic, with little near-term benefit from the deal in his 2020 numbers. His checks indicate that enterprises may be holding off on switching systems in a COVID-19 world. Once enterprises catch their breath, the analyst would not be surprised to see accelerated migration off of systems/processes that failed to scale during the COVID-19 scare. This should also benefit RingCentral when the dust settles, and should ultimately win-out over potential near-term headwinds for SMB mortality risk. He has a Strong Buy on RingCentral's shares.
Bausch Health: Phase 2 study of rifaximin met primary endpoint » 07:0403/3103/31/20
Bausch Health announced…
Bausch Health announced topline results from a Phase 2 study evaluating an investigative soluble solid dispersion formulation of immediate release rifaximin in combination therapy with the current standard of care therapy, lactulose, for the treatment of Overt Hepatic Encephalopathy. In the double-blinded, placebo-controlled multi-arm, dose-ranging study, the treatment arm evaluating 40 mg BID of rifaximin SSD IR plus standard of care therapy met its primary endpoint of time to resolution of OHE using the Hepatic Encephalopathy Grading Instrument scale. The 40 mg BID rifaximin SSD IR in combination with standard of care therapy treatment arm was statistically significantly superior to the placebo plus standard of care therapy treatment arm with median time to resolution being 21.1 hours versus 62.7 hours, respectively. The rates of adverse events were comparable across all treatment arms of the study. "The topline results of this study will help inform further research on potential new indications for rifaximin using this formulation," said Joseph Papa, chairman and CEO, Bausch Health.
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Sinclair Broadcast trading resumes 09:5103/3003/30/20