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Fly News Breaks for January 2, 2020
PGR, UAL, SSTI, FSLY, DBI, GIII, CPRI
Jan 2, 2020 | 10:13 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Capri Holdings (CPRI), G-III Apparel (GIII), and Designer Brands (DBI) were upgraded to Overweight from Equal Weight at Wells Fargo. 2. Fastly (FSLY) upgraded to Overweight from Neutral at Piper Jaffray with analyst James Fish citing the stock's "compelling valuation" and the headwinds around its GPM and float having played out. 3. ShotSpotter (SSTI) upgraded to Outperform from Market Perform at Northland with analyst Tyler Wood saying he views valuation as attractive following the second half 2019 reset and believes an Outperform rating is warranted given attractive fundamentals combined with conservative guidance and Street expectations. 4. United Airlines (UAL) upgraded to Outperform from In Line at Evercore ISI with analyst Duane Pfennigwerth saying shares trade at a "significant valuation" discount versus peers, combined with a longer-term co-brand credit card economics improvement potential and an Evercore ISI view of improved global GDP growth in 2020. 5. Progressive (PGR) upgraded to Buy from Hold at Deutsche Bank with analyst Joshua Shanker citing the 15% of stock underperformance relative to the S&P500 in Q4 of 2019 and believes that the 70% valuation to the index on a relative price to earnings basis represents a "prospective entry point," which should lead to a "material outperformance" for Progressive shares in the next 12 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.