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Fly News Breaks for May 2, 2019
May 2, 2019 | 10:16 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Clorox (CLX) upgraded to Hold from Sell at Deutsche Bank with analyst Steve Powers saying he views the company's fiscal Q3 results as "disappointing" but believes most of his concerns around competition are now more fairly priced into the shares. 2. Arconic (ARNC) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Korn saying the company is benefiting from "strategic clarity." 3. Qualcomm (QCOM) was upgraded to Strong Buy from Outperform at Raymond James and to Buy from Neutral at BofA/Merrill. 4. Zynga (ZNGA) upgraded to Outperform from Neutral at Baird with analyst Colin Sebastian saying last night's better than expected Q1 results largely confirm the company's successful turnaround and acquisition strategy, improving organic growth outlook, and its reduced dependence on new game launches. 5. WWE (WWE) upgraded to Buy from Hold at Loop Capital with analyst Alan Gould saying he is taking advantage of the recent pullback in the stock price driven by the "temporary" and "unusual" amount of talent injuries. 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 CLX;ARNC;QCOM;ZNGA;WWE From the Last 2 Days
Jun 18, 2019 | 08:06 EDT
Morgan Stanley analyst James Faucette said being a Qualcomm (QCOM) shareholder has "always required a bit more mettle" given its history of political and legal risks, but he thinks that at current levels the stock is "still worth the noise." Faucette reduced his FY19 and FY20 estimates slightly because he no longer assumes Apple (AAPL) will refresh its portfolio to include more Qualcomm-based legacy models in late 2019 and most of FY20 and also to be more conservative in his assumption of Huawei's contribution. However, he is now modeling more impact from an uplift in 5G average selling prices and thinks if Huawei handsets are absorbed by other OEMs that Qualcomm could see a positive impact, Faucette noted. The analyst, who projects Qualcomm's FY21 earnings at about $6.80 per share, keeps an Overweight rating and $95 price target on the stock.