The U.K. is further restricting border controls to prevent new strains of the novel coronavirus from entering the country, suspending all the "travel corridor" arrangements that had meant arrivals from certain countries were not required to quarantine, Reuters' William James reports. The change will become effective at 4:00 GMT on Monday, and means all passengers must have a recent negative COVID-19 test and move immediately into isolation upon arrival, James notes. Publicly traded companies in the space include Alaska Air (ALK), American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV), Spirit Airlines (SAVE) and United Airlines (UAL). Reference Link
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 3D Systems (DDD) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Spotify (SPOT) downgraded to Sell from Neutral at Citi with analyst Jason Bazinet saying among the four subscription based stocks, Spotify, Roku (ROKU), Netflix (NFLX) and SiriusXM (SIRI), Spotify is the only company where the Street's long-terms forecasts "do not comport to the prevailing valuation." 3. Centene (CNC) downgraded to Hold from Buy at Jefferies with analyst David Windley saying he believes positive catalysts under a Biden-led Democratic administration have been pulled forward and reflected in the stock's recent strong run. 4. Autoliv (ALV) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Victoria Greer saying she can't justify Autoliv, or any of the European auto suppliers, trading at a premium versus their own history. 5. JetBlue (JBLU) downgraded to Hold from Buy at Vertical Research with analyst Darryl Genovesi saying the company's coming "capex ramp" could drive returns lower, making it difficult to argue for multiple expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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.
Vertical Research analyst Darryl Genovesi downgraded JetBlue Airways to Hold from Buy with a $20 24-month price target. The company's coming "capex ramp" could drive returns lower, making it difficult to argue for multiple expansion, Genovesi tells investors in a research note. JetBlue's return on invested capital, which is already below peers, could take "another structural leg down" to accommodate its big re-fleeting project, adds the analyst.
Credit Suisse analyst Brad Zelnick raised the firm's price target on Salesforce to $260 from $245 and keeps an Outperform rating on the shares. Zelnick believes Salesforce will outperform in 2021 driven by its leadership in enabling digital transformations and ability to execute against this secular trend.
JPMorgan analyst Paul Coster upgraded HP Enterprise to Overweight from Neutral with a price target of $16, up from $13. 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 as we return to work, Coster tells investors in a research note. HP Enterprise shares "attractively valued, neglected by the sell-side, and it feels like a good contrarian long trade," says the analyst.
Piper Sandler analyst Jason Bednar raised the firm's price target on Vapotherm to $39 from $36 and keeps an Overweight rating on the shares after meeting with management. The analyst increased near-term estimates for capital sales saying the company's business momentum has persisted into 2021 on the back of elevated COVID cases across the U.S. and Europe. He continues to call Vapotherm his top small cap idea.