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Fly News Breaks for February 20, 2020
CTL, WDAY, ALLY, AMD, BE, BUD
Feb 20, 2020 | 10:07 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AB InBev (BUD) downgraded to Underweight from Neutral at JPMorgan with analyst Celine Pannuti saying despite a "more benign" input cost environment, 2020 is shaping up to remain challenging for the company, leading to pressure on both gross margin and EBITDA. 2. Bloom Energy (BE) downgraded to Market Perform from Outperform at Raymond James with analyst Pavel Molchanov citing valuation. 3. AMD (AMD) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Aaron Rakers saying he is positive on AMD's competitive positioning and share gain story. However, at current levels, and based on his new sum-of-the-parts analysis, he believes the shares approaching levels that present a more balanced risk/reward. 4. Workday (WDAY) downgraded to Sell from Hold at Societe Generale. 5. CenturyLink (CTL) downgraded to Underperform from Neutral at BofA with analyst David Barden saying that with the exception of encouraging positive momentum in the company's Enterprise and IGAM segments, its business remains structurally challenged, and he expects the stock to trade range-bound with a downward bias. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For BUD;BE;AMD;ALLY;WDAY;CTL From the Last 2 Days
WDAY
Oct 20, 2020 | 10:04 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ATTRACTIVE VALUATION: Oppenheimer... To see the rest of the story go to thefly.com. See Story Here
WDAY
Oct 20, 2020 | 09:55 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Dave & Buster's (PLAY) upgraded to Outperform from Market Perform at BMO Capital with analyst Andrew Strelzik saying the private senior notes offering bolsters the company's liquidity and extends its covenant relief, removing the primary concern and a key overhang. 2. Fortinet (FTNT) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Essex saying based on recent conversations with industry participants as well as industry trends this quarter, the analyst believes Fortinet's large enterprise headwinds "may be abating sooner than anticipated." 3. Workday (WDAY) upgraded to Overweight from Neutral at Piper Sandler with analyst Brent Bracelin saying "several" catalysts could drive a reacceleration in the company's subscription growth next year after bottoming in the second half of this year in the mid-teens. 4. Rayonier Advanced (RYAM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Paul Quinn saying that "record" lumber prices will help the business generate improved free cash flows and reduce leverage, while more investors could be drawn to the stock as its debt overhang clears up. 5. National Beverage (FIZZ) upgraded to Hold from Underperform at Jefferies with analyst Kevin Grundy saying growth in the sparkling water category has accelerated since the pandemic began given a skew toward at-home consumption and consumers' increased emphasis on health and wellness, noting that La Croix's market share trends have stabilized. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
WDAY
Oct 20, 2020 | 06:05 EDT
Piper Sandler analyst Brent Bracelin upgraded Workday to Overweight from Neutral with a price target of $275, up from $248. "Several" catalysts could drive a reacceleration in the company's subscription growth next year after bottoming in the second half of this year in the mid-teens, Bracelin tells investors in a research note. These include remote work tailwinds within the core human capital management and ack-office automation that could open up an entirely new business-to-business payment revenue opportunity similar to Coupa Pay, says the analyst. He recommends buying Workday "ahead of a promising 2021 recovery."
ALLY
Oct 19, 2020 | 06:52 EDT
BMO Capital analyst James Fotheringham raised the firm's price target on Ally Financial to $36 from $34 and keeps an Outperform rating on the shares. The analyst cites the company's "significant" revenue and credit-driven earnings beat in Q3, noting that the appreciation in used car prices has been the "biggest positive surprise" during COVID-10. Fotheringham adds that Ally Financial surprised with better guidance on net interest margins and auto net charge-offs.