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Fly News Breaks for December 12, 2019
FDX, GE, KR, HD, SBUX
Dec 12, 2019 | 10:08 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Home Depot (HD) upgraded to Outperform from Neutral at Credit Suisse with analyst Seth Sigman saying he believes Home Depot offers an attractive risk/reward after its recent pullback and Wednesday's guidance reset, with optionality on improving external and internal drivers in FY20. 2. General Electric (GE) upgraded to Buy from Neutral at UBS with analyst Markus Mittermaier saying the shares are at a "positive inflection point" into 2020 given GE's successful de-levering, "strong" estimated earnings growth in 2020 and 2021, and a tripling of free cash flow to $2.3B next year led by Aviation and Healthcare. 3. Starbucks (SBUX) upgraded to Overweight from Neutral at JPMorgan with analyst John Ivankoe saying he sensed a high degree of confidence that Starbucks' "growth at scale" agenda is working in the near and medium term, meeting if not exceeding set sales and margin objectives. 4. Kroger (KR) upgraded to Outperform from In Line at Evercore ISI. 5. EST FedEx (FDX) upgraded to Neutral from Sell at UBS with analyst Thomas Wadewitz saying his Sell thesis has essentially played out as fiscal 2020 earnings expectations have fallen sharply and the stock has also moved down. 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 HD;GE;SBUX;KR;FDX From the Last 2 Days
SBUX
Feb 28, 2020 | 08:04 EST
MKM Partners analyst Brett Levy says he still likes Starbucks stock from a long-term perspective based on its strategy, operations and business model, in spite of its 12% pullback over the last 10 days. The analyst is keeping his Buy rating and $105 price target, citing the reports of about 85% of the company's China store reopening and the number of coronavirus cases slowing in the region. Levy further cites the company's launch of instant product internationally, expanded ready-to-drink offerings, and K-Cups production plans.
GE, SBUX
Feb 27, 2020 | 17:41 EDT
Coronavirus fears continue to grip the market as cases in California, aggressive response measures in countries outside of the U. S... To see the rest of the story go to thefly.com. See Story Here
SBUX
Feb 27, 2020 | 12:19 EDT
Stocks are extending the pullback that has taken the S&P from a record high to a correction in a matter of only ten days as headlines about the coronavirus continue to dominate sentiment. In some the... To see the rest of the story go to thefly.com. See Story Here
SBUX
Feb 27, 2020 | 06:52 EST
Keurig Dr Pepper (KDP) announced that it has entered into a long-term, strategic agreement with Nestle USA (NSRGY) to manufacture and distribute Starbucks branded packaged coffee in K-Cup pods in the U.S. and Canada. The new agreement with Nestle, which acquired the rights in August 2018 to market and distribute Starbucks CPG and Foodservice products globally, outside of Starbucks coffee shops, will replace the existing K-Cup pod agreement between KDP and Starbucks (SBUX) following a transition period. Financial terms of the agreement between KDP and Nestle were not disclosed.