Check out today's top analyst calls from around Wall Street, compiled by The Fly.
COWEN UPGRADES TARGET TO OUTPERFORM: Cowen analyst Oliver Chen upgraded Target (TGT) to Outperform from Market Perform. The analyst believes its combination of strong price value, convenient digitally-enabled pick up options, private brand innovation, and traffic will drive the stock higher. Chen raised his price target to $100 from $90 on Target shares.
BAIRD CUTS DIPLOMAT PHARMACY TO UNDERPERFORM: Baird analyst Eric Coldwell downgraded Diplomat Pharmacy (DPLO) to Underperform from Neutral, stating that he believes consensus estimates are too high and with risks mounting the shares should trade at much lower levels. He also sees little premium in takeout multiples despite the company making reasonable moves given its current portfolio and market trends. In the PBM segment, management seems to be backing off prior pipeline/bookings commentary and recognizes that new wins will be lower margin and old contracts will reset to lower rates upon renewals, Coldwell added. The analyst lowered his price target to $10 from $22 on Diplomat Pharmacy shares. In late morning trading, Diplomat Pharmacy shares were down almost 30%.
SUSQUEHANNA CUTS ZILLOW TO NEGATIVE: Susquehanna analyst Shyam Patil downgraded Zillow (Z, ZG) to Negative from Neutral following the company's Q3 results. The analyst said the quarter provided the clearest evidence yet that the core Premier Agent business is in trouble as the numbers were missed and the guidance was cut. He believes forward estimates will remain under pressure while growth and margins likely will be in perpetual deterioration mode. Patil lowered his price target to $23 from $42 on Zillow shares. In late morning trading, Zillow shares were down 21.5%.
MORGAN STANLEY UPGRADES ABIOMED TO OVERWEIGHT: Morgan Stanley analyst David Lewis upgraded Abiomed (ABMD) to Overweight from Equal Weight, stating that based on his review of pre-clinical and clinical data and physician conversations he has conviction in a positive readout from the Door to Unloading, or STEMI-DTU, trial next week. Data is to be presented at the American Heart Association Scientific Sessions on Sunday, November 11, the analyst noted. Abiomed's DTU trial challenges the current paradigm and success could result in a shift from the current standard of care, driving an inflection in valuation, Lewis tells investors. The ST-elevated myocardial infarctions, or STEMI, opportunity would expand Abiomed's current addressable market by about 70%, Lewis added. He raised his price target on Abiomed shares to $496 from $396.
JEFFERIES SEES AMD'S COMPETITIVE POSITION IMPROVING: Three "watershed events" over the next six months will materially improve AMD's (AMD) competitive position in datacenter, Jefferies analyst Mark Lipacis believes. The world's first 7nm graphics processing unit will be available in Q4, the world's first 7nm server micro processing unit will be available in Q2 of 2019, and Amazon Web Services (AMZN) is deploying AMD Server MPU instances at a 10% discount to Intel (INTC) now, the analyst said following AMD's Datacenter Day. He believes these three events position AMD to increase its market share to 30% from 3% in the $29B datacenter market over the next three-to-five years. Lipacis reiterated a Buy rating on shares of AMD with a $30 price target.
Target
+0.66 (+0.77%)
Diplomat Pharmacy
-6.05 (-29.79%)
Zillow
-9.69 (-23.58%)
Zillow Group
-9.58 (-23.49%)
Abiomed
+25.89 (+6.64%)
AMD
+1.16 (+5.61%)
Intel
+0.88 (+1.86%)