| Over a week ago | ||||
Check out this morning's… | ||||
As previously reported,… As previously reported, Morgan Stanley analyst Lauren Cassel upgraded WW to Overweight from Equal Weight with a price target of $24, down from $37. Although subscriber growth is likely to be hurt in the short-term, the company is a potential beneficiary post the removal of "shelter in place" orders as she anticipates a heightened focus on health, wellness, and weight loss following "weeks of gym closures, stress eating, and limited physical activity, Cassel tells investors. The stock is also now trading at a 35% discount to the market's multiple, compared to its historic 3% premium, Cassel noted. | ||||
Morgan Stanley analyst… Morgan Stanley analyst Lauren Cassel upgraded WW to Overweight from Equal Weight with a $24 price target. | ||||
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Beyond Meat (BYND) downgraded to Sell from Neutral at Goldman Sachs with analyst Adam Samuelson saying Beyond Meat represents one of the stocks that is most directly impacted by the COVID-19 outbreak, with over half of its sales into the foodservice channel. 2. Huntsman (HUN) downgraded to Sector Perform from Outperform at RBC Capital with analyst Arun Viswanathan saying while the company has transformed into a "higher quality, higher margin portfolio" via downstream acquisitions and sales of commodity businesses, its current exposure to autos, appliances, and other discretionary items may reflect deeper demand weakness amid increasing economic uncertainty. 3. Expedia (EXPE) downgraded to Sell from Neutral at Goldman Sachs with analyst Heath Terry saying with the shares up over 28% off their lows, the risk is high that investors may be overly optimistic about the prospects for a sharp recovery in online travel or Expedia's ability to fully participate given the company's balance sheet and the need to reduce costs and investments. 4. Howard Hughes (HHC) downgraded to Neutral from Overweight at Piper Sandler with analyst Alexander Goldfarb saying the company's "development heavy" business model is under increased pressure amid the COVID-19 outbreak. 5. WW (WW) downgraded to Neutral from Buy at Goldman Sachs with analyst Jason English saying given the company's dependence on communal gatherings to generate a large portion of its revenue, it is prudent to cut subscriber and earnings estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
Goldman Sachs analyst… Goldman Sachs analyst Jason English downgraded WW to Neutral from Buy with a price target of $18, down from $48. Given the company's dependence on communal gatherings to generate a large portion of its revenue, it is prudent to cut subscriber and earnings estimates, English tells investors in a research note. The analyst says that given the "bleak" macro-economic backdrop over the next 12 months, combined with the lack of visibility into WW's new news for the 2021 winter recruitment season, he prefers to take a more cautious stance on subscriber growth in 2021 and 2022 for now. | ||||
B. Riley FBR analyst Kara… B. Riley FBR analyst Kara Anderson lowered the firm's price target on WW to $28 from $46 and keeps a Buy rating on the shares. The analyst expects WW's in-person Studio business to extend its virtual meetings beyond April 4 in many or all markets. A longer extension to a virtual setting will cause disruption to the business, Anderson tells investors in a research note. Despite headwinds from COVID-19, the analyst continues to be positive on WW's digital app, new feature pipeline, and its newly launched myWW program. | |
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Altair (ALTR) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Essex saying he is "incrementally cautious" due to the company's exposure to macro sensitive industries like auto and aerospace verticals, as well as its international revenue and currency. 2. VF Corp. (VFC) downgraded to Neutral from Buy at BofA with analyst Robert Ohmes saying he sees risk to the outlook for The North Face given the challenging Winter 2019 selling season. 3. Shake Shack (SHAK) downgraded to Neutral from Buy at Goldman Sachs with analyst Katherine Fogert citing expectations for lower comps in the near term stemming from a reduction in travel traffic. 4. AMC Entertainment (AMC) and GameStop (GME) downgraded to Neutral from Outperform at Wedbush. 5. WW (WW) downgraded to Underperform from Buy at BofA with analyst Olivia Tong saying she has also factored in supply constraints, demand shocks, and stockpiling versus real increased consumption amid expectations for a broader slowdown. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | |
BofA analyst Olivia Tong… BofA analyst Olivia Tong downgraded WW to Underperform from Buy as she takes a more defensive stance. She has also factored in supply constraints, demand shocks, and stockpiling versus real increased consumption amid expectations for a broader slowdown. | |
Craig-Hallum analyst Alex… Craig-Hallum analyst Alex Fuhrman lowered the firm's price target on WW to $32 from $50 and keeps a Buy rating on the shares. The analyst cited the cost of social distancing, including a three week pause in WW Studio workshops. |
| Over a month ago | ||||
Morgan Stanley to hold a conference »
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Technology, Media &… Technology, Media & Telecom Conference will be held in San Francisco on March 2-5. | ||||