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Fly News Breaks for March 3, 2020
Z, ZG, RDFN, AMZN, YELP, MELI, EBAY, IAC, LYFT, TWTR, SNAP, FB, MTCH, GOOG, GOOGL, TRIP, EXPE, BKNG
Mar 3, 2020 | 08:03 EDT
Jefferies analyst Brent Thill said "no one is immune" to the coronavirus in terms of the Internet sector he covers. He views travel names as most exposed and identifies Alphabet (GOOGL), Match (MTCH), Facebook (FB), Snap (SNAP), Twitter (TWTR), Lyft (LYFT), IAC (IAC), eBay (EBAY), MercadoLibre (MELI), Yelp (YELP), Amazon (AMZN), Redfin (RDFN) and Zillow Group (ZG) among those he sees with "moderate" exposure. Thill lowered his price target on Booking (BKNG) shares to $1,755 from $1,800, cut his Expedia (EXPE) target to $145 from $155 and trimmed his TripAdvisor (TRIP) price target to $21 from $27, citing the coronavirus impacts.
News For BKNG;EXPE;TRIP;GOOGL;GOOG;MTCH;FB;SNAP;TWTR;LYFT;IAC;EBAY;MELI;YELP;AMZN;RDFN;ZG;Z From the Last 2 Days
FB
Apr 13, 2021 | 16:17 EDT
Wedbush analyst Ygal Arounian downgraded Facebook (FB) to Neutral from Outperform with a price target of $340, down from $375, as the analyst assumed coverage of the stock. While bullish on the social commerce initiatives the Facebook is building into its platform, Arounian is of the view that Facebook is the "most exposed to privacy risks" among the mega-cap tech stocks the analyst covers. Facebook has been the strongest digital ad platform at effectively tracking and targeting users across the web, but that gives it "the most to lose" if Apple's (AAPL) App Tracking Transparency efforts limit its tracking capabilities, Arounian tells investors.
TWTR
Apr 13, 2021 | 16:14 EDT
Wedbush analyst Ygal Arounian assumed coverage of Twitter with a Neutral rating with a price target of $75, up from $56.50.
GOOGL, GOOG
Apr 13, 2021 | 16:12 EDT
Wedbush analyst Ygal Arounian assumed coverage of Alphabet with an Outperform rating and $2,953 price target. The analyst added the shares to the Wedbush "Best Ideas List."
SNAP
Apr 13, 2021 | 16:12 EDT
Wedbush analyst Ygal Arounian upgraded Snap to Outperform from Neutral with a price target of $75, up from $52, as the analyst assumed coverage of the name.
FB
Apr 13, 2021 | 16:09 EDT
Wedbush analyst Ygal Arounian assumed Facebook at Neutral, down from the firm's prior Outperform rating, with a $340 price target, down from $375.
GOOGL, GOOG
Apr 13, 2021 | 13:46 EDT
Last year, Google (GOOG) and ADT (ADT) announced a partnership for smart home security sales and installation with Nest products and now ADT is taking the next steps by selling Google Nest products with installation and consultation services provided by ADT technicians, CNET's Molly Price reports. Existing ADT customers with ADT Command & Control or Blue by ADT smart home security systems will now have the option of controlling their systems with Google Assistant through voice and touch control using a Nest Mini, Nest Hub or Nest Hub Max, the author notes, adding that ADT will install the Nest products if the customer purchases them through ADT or an ADT-authorized dealer. Reference Link
BKNG
Apr 13, 2021 | 10:13 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BUY FEDEX: KeyBanc... To see the rest of the story go to thefly.com. See Story Here
BKNG
Apr 13, 2021 | 09:55 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. FedEx (FDX) upgraded to Overweight from Sector Weight at KeyBanc with analyst Todd Fowler citing the proprietary Online Parcel Index suggesting that B2C parcel volumes remained strong throughout Q1. 2. Mosaic (MOS) upgraded to Buy from Hold at Berenberg with analyst Sebastian Bray seeing an "almost ideal" outlook for the fertilizer sector but believes stocks should be chosen "wisely." 3. iHeartMedia (IHRT) upgraded to Buy from Neutral at BofA with analyst Jessica Ehrlich saying the analyst believes that advertising trends will come roaring back over the next several months as small to medium sized businesses and sectors across the country open up as drive times increase. 4. Booking Holdings (BKNG) upgraded to Buy from Hold at Jefferies with analyst Brent Thillseeing increasing signs of pent-up travel demand and notes that shares have underperformed the broader travel space year-to-date. 5. JetBlue (JBLU) and Spirit Airlines (SAVE) upgraded to Positive from Neutral at Susquehanna with analyst Daniel McKenzie saying with clear signs of recovery in U.S. domestic air travel, he prefers the low cost model as he believes its operational flexibility, and lower direct and indirect costs should support better unit economics and by extension, more resilient margins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AMZN
Apr 13, 2021 | 08:15 EDT
Jefferies analyst Brent Thill said his sum-of-the-parts analysis of Amazon, which is "purely illustrative and does not reflect our official price target," supports a path to 70% upside over three years and a "pathway to $5,700" in share price. While he argues that AWS is Amazon's "most valuable business and is positioned for continued strength," Thill said he would "not be surprised" if the stock remains range-bound until after it first difficult comparison in Q2 and the market gains clarity on the near-term trajectory of its core retail business. Thill keeps a Buy rating and $4,000 price target on Amazon shares.
TRIP
Apr 13, 2021 | 07:10 EDT
Jefferies analyst Brent Thill raised the firm's price target on TripAdvisor to $29 from $24 and keeps an Underperform rating on the shares as he sees increasing signs of pent-up travel demand. Thill thinks the rest of the world will catch up with the U.S. on vaccination levels and global travel will rebound by the second half of 2021, he tells investors.